| This report is for educational purposes only, and not to provide
investment advice. Before making any
investment decision, you should always do your own research or consult a
investment professional. |
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| While I try to
be accurate, I assume no responsibility for any figure in this spreadsheet. |
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| See my
website on stocks or see my blog at the following sites. |
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www.spbrunner.com/stocks.html |
www.spbrunner.blogspot.com/ |
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| Metro Inc |
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TSX: |
MRU.A |
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www.metro.ca |
Fiscal Yr: |
Sept |
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| Year |
9/30/99 |
9/30/00 |
9/30/01 |
9/30/02 |
9/30/03 |
9/30/04 |
9/30/05 |
9/30/06 |
9/29/07 |
9/27/08 |
9/26/09 |
9/25/10 |
9/25/11 |
9/25/12 |
9/26/13 |
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#Y |
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| Accting Rules |
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C GAAP |
IFRS |
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| Split |
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2:1 |
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| Split |
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2 |
restated |
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| Revenue* |
$3,996 |
$4,658 |
$4,869 |
$5,147 |
$5,766 |
$5,999 |
$6,696 |
$10,944 |
$10,645 |
$10,725 |
$11,196 |
$11,349 |
$11,431 |
$11,871 |
$12,074 |
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134.77% |
<-Total Growth |
10 |
Revenue |
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| Increase |
9.38% |
16.57% |
4.54% |
5.71% |
12.04% |
4.03% |
11.62% |
63.44% |
-2.74% |
0.76% |
4.39% |
1.37% |
0.72% |
3.85% |
1.71% |
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8.91% |
<-IRR #YR-> |
10 |
Revenue |
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| Rev per Share |
$39.67 |
$46.38 |
$48.61 |
$51.73 |
$58.95 |
$62.10 |
$58.52 |
$95.39 |
$92.98 |
$97.01 |
$103.14 |
$108.01 |
$113.08 |
$117.44 |
$119.45 |
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0.87% |
<-IRR #YR-> |
5 |
Revenue |
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| Increase |
10.3% |
16.9% |
4.8% |
6.4% |
14.0% |
5.3% |
-5.8% |
63.0% |
-2.5% |
4.3% |
6.3% |
4.7% |
4.7% |
3.9% |
1.7% |
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8.81% |
<-IRR #YR-> |
10 |
Rev per Share |
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| P/S (Price/Sales) |
0.23 |
0.21 |
0.19 |
0.35 |
0.32 |
0.30 |
0.58 |
0.35 |
0.38 |
0.33 |
0.34 |
0.42 |
0.40 |
0.45 |
0.44 |
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3.46% |
<-IRR #YR-> |
5 |
Rev per Share |
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| *Sales in M CDN $ |
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P/S |
10 yr |
0.35 |
5 yr |
0.38 |
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-$4,869 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$11,431 |
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-$10,944 |
$0 |
$0 |
$0 |
$0 |
$11,431 |
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-$48.61 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$113.08 |
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-$95.39 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$113.08 |
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| Pre-split 02 |
$1.51 |
$1.86 |
$2.36 |
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| EPS* |
$0.76 |
$0.93 |
$1.21 |
$1.41 |
$1.67 |
$1.72 |
$1.92 |
$2.18 |
$2.37 |
$2.58 |
$3.19 |
$3.67 |
$3.73 |
$4.27 |
$4.65 |
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208.26% |
<-Total Growth |
10 |
Earnings |
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| Increase |
17.97% |
23.18% |
30.11% |
16.53% |
18.44% |
2.99% |
11.63% |
13.54% |
8.72% |
8.86% |
23.64% |
15.05% |
1.63% |
14.48% |
8.90% |
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11.92% |
<-IRR #YR-> |
10 |
Earnings |
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| Earnings Yield |
8.3% |
9.6% |
13.0% |
7.9% |
8.8% |
9.2% |
5.7% |
6.5% |
6.8% |
8.1% |
9.2% |
8.1% |
8.3% |
8.1% |
8.9% |
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11.34% |
<-IRR #YR-> |
5 |
Earnings |
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| * ESP per
share (Cdn GAAP) |
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E/P |
10 Yrs |
8.12% |
5Yrs |
8.13% |
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-$1.21 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$3.73 |
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-$2.18 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$3.73 |
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| Special Dividend |
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$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
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| Pre-split 02 |
$0.25 |
$0.29 |
$0.35 |
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| Div* |
$0.13 |
$0.15 |
$0.17 |
$0.21 |
$0.27 |
$0.33 |
$0.39 |
$0.42 |
$0.45 |
$0.49 |
$0.54 |
$0.65 |
$0.73 |
$0.77 |
$0.77 |
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320.29% |
<-Total Growth |
10 |
Dividends |
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| Increase |
21.95% |
16.00% |
18.97% |
21.74% |
26.19% |
22.64% |
18.46% |
7.79% |
8.43% |
8.89% |
9.69% |
20.54% |
11.90% |
6.21% |
0.00% |
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15.18% |
<-Median-> |
10 |
Dividends |
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| Yield H/L Pr. |
1.24% |
1.64% |
1.24% |
1.07% |
1.47% |
1.63% |
1.43% |
1.31% |
1.21% |
1.73% |
1.60% |
1.61% |
1.58% |
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1.53% |
<-Median-> |
10 |
Dividends |
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| Yield on High Pr. |
1.07% |
1.40% |
0.91% |
0.94% |
1.31% |
1.43% |
1.10% |
1.19% |
1.12% |
1.38% |
1.36% |
1.38% |
1.48% |
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1.33% |
<-Median-> |
10 |
Dividends |
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| Yield on Low Pr. |
1.47% |
1.96% |
1.92% |
1.24% |
1.68% |
1.89% |
2.03% |
1.45% |
1.32% |
2.32% |
1.94% |
1.94% |
1.71% |
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1.80% |
<-Median-> |
10 |
Dividends |
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| Yield on Cl Pr. |
1.37% |
1.50% |
1.86% |
1.17% |
1.39% |
1.74% |
1.13% |
1.24% |
1.29% |
1.54% |
1.55% |
1.43% |
1.62% |
1.47% |
1.47% |
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1.41% |
<-Median-> |
10 |
Dividends |
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| Payout Ratio |
16.6% |
15.6% |
14.3% |
14.9% |
15.9% |
18.9% |
20.1% |
19.0% |
19.0% |
19.0% |
16.8% |
17.7% |
19.4% |
18.0% |
16.6% |
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18.94% |
<-Median-> |
10 |
DPR EPS |
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| Payout Ratio CF |
6.5% |
9.5% |
11.8% |
9.2% |
12.6% |
10.1% |
15.6% |
12.1% |
14.2% |
12.0% |
11.2% |
12.4% |
13.5% |
12.8% |
11.9% |
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12.29% |
<-Median-> |
10 |
DPR CF |
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| Payout Ratio CF NC |
10.4% |
9.2% |
8.3% |
9.9% |
10.6% |
15.0% |
16.2% |
11.8% |
11.8% |
12.5% |
11.2% |
11.7% |
12.9% |
1.0% |
0.0% |
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11.83% |
<-Median-> |
10 |
DPR CF NC |
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| Median Values |
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Div Yd |
4.13% |
10 |
6.94% |
15 |
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Yield |
1.60% |
1.54% |
Payout |
18.99% |
11.83% |
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15.44% |
<-IRR #YR-> |
10 |
Dividends |
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| * Dividends per
share |
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10.90% |
Years |
10.90% |
Years |
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Curr diff |
-7.99% |
Last Div Inc ---> |
$0.17 |
$0.19 |
13.2% |
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11.80% |
<-IRR #YR-> |
5 |
Dividends |
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-$0.17 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.73 |
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-$0.42 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.73 |
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| I am earning GC |
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# yrs are----> |
8 |
Trading |
$17.68 |
2004 |
196.45% |
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| I am earning |
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# yrs --> |
8 |
Trading |
$17.68 |
2004 |
4.36% |
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| Yield if held 5 yrs |
4.44% |
3.91% |
3.75% |
3.19% |
2.86% |
3.21% |
4.35% |
2.98% |
2.29% |
2.73% |
2.69% |
2.40% |
2.28% |
2.07% |
2.72% |
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2.80% |
<-Median-> |
10 |
Dividends |
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| Yield if held 10 yrs |
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11.55% |
10.39% |
9.02% |
6.84% |
5.30% |
5.31% |
7.32% |
5.20% |
3.92% |
4.28% |
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7.08% |
<-Median-> |
8 |
Dividends |
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| H/LYield held 15 yrs |
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19.09% |
17.49% |
15.76% |
11.71% |
8.32% |
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17.49% |
<-Median-> |
3 |
Dividends |
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| H/LYield held 20 yrs |
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#DIV/0! |
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#NUM! |
<-Median-> |
0 |
Dividends |
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| Graham Price |
$8.13 |
$9.81 |
$12.32 |
$14.33 |
$17.00 |
$18.48 |
$23.90 |
$27.15 |
$30.00 |
$32.90 |
$38.69 |
$43.82 |
$46.17 |
$49.40 |
$51.56 |
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274.94% |
<-Total Growth |
10 |
Graham Price |
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| Prem/Disc Low |
4.5% |
-24.8% |
-26.9% |
17.9% |
-7.3% |
-6.8% |
-20.5% |
5.7% |
13.2% |
-35.8% |
-28.5% |
-23.9% |
-8.0% |
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-7.65% |
<-Median-> |
10 |
Graham Price |
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| Prem/Disc High |
44.2% |
5.3% |
53.2% |
56.1% |
18.9% |
23.1% |
46.4% |
28.4% |
34.2% |
8.0% |
2.5% |
7.1% |
6.4% |
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20.99% |
<-Median-> |
10 |
Graham Price |
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| Prem/Disc Ave |
24.3% |
-9.7% |
13.2% |
37.0% |
5.8% |
8.2% |
13.0% |
17.1% |
23.7% |
-13.9% |
-13.0% |
-8.4% |
-0.8% |
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6.98% |
<-Median-> |
10 |
Graham Price |
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| Prem/Disc Cl |
11.9% |
-1.6% |
-24.7% |
25.2% |
11.8% |
1.0% |
42.0% |
23.8% |
16.7% |
-3.4% |
-10.2% |
3.0% |
-3.2% |
6.1% |
1.7% |
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7.42% |
<-Median-> |
10 |
Graham Price |
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| Pre-split 02 |
$19.00 |
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| Price Cl |
$9.10 |
$9.65 |
$9.28 |
$17.95 |
$19.00 |
$18.66 |
$33.94 |
$33.60 |
$35.00 |
$31.77 |
$34.73 |
$45.15 |
$44.69 |
$52.41 |
$52.41 |
|
381.83% |
<-Total Growth |
10 |
Stock Price |
|
|
|
|
|
|
|
|
|
|
| Increase |
-1.62% |
6.04% |
-3.89% |
93.53% |
5.85% |
-1.79% |
81.89% |
-1.00% |
4.17% |
-9.23% |
9.32% |
30.00% |
-1.02% |
17.27% |
0.00% |
|
17.03% |
<-IRR #YR-> |
10 |
Stock Price |
|
|
|
|
|
|
|
|
|
|
| P/E |
12.05 |
10.38 |
7.67 |
12.73 |
11.38 |
10.85 |
17.68 |
15.41 |
14.77 |
12.31 |
10.89 |
12.30 |
11.98 |
12.27 |
11.27 |
|
5.87% |
<-IRR #YR-> |
5 |
Stock Price |
|
|
|
|
|
|
|
|
|
|
| Trailer P/E |
14.22 |
12.78 |
9.97 |
14.83 |
13.48 |
11.17 |
19.73 |
17.50 |
16.06 |
13.41 |
13.46 |
14.15 |
12.18 |
14.05 |
12.27 |
|
19.27% |
<-IRR #YR-> |
10 |
Price & Div |
|
|
|
|
|
|
|
|
|
|
| Median 10, 5 Yrs |
|
D. per yr |
2.24% |
1.49% |
% Tot Ret |
11.64% |
20.29% |
|
Price Inc |
4.17% |
P/E: |
12.31 |
12.30 |
|
|
|
7.36% |
<-IRR #YR-> |
5 |
Price & Div |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-$9.28 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$44.69 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-$33.60 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$44.69 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-$9.28 |
$0.21 |
$0.27 |
$0.33 |
$0.39 |
$0.42 |
$0.45 |
$0.49 |
$0.54 |
$0.65 |
$45.42 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-$33.60 |
$0.45 |
$0.49 |
$0.54 |
$0.65 |
$45.42 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Price Ave H/L |
$10.12 |
$8.86 |
$13.94 |
$19.64 |
$17.98 |
$19.99 |
$27.00 |
$31.78 |
$37.11 |
$28.33 |
$33.66 |
$40.13 |
$45.81 |
|
|
|
228.74% |
<-Total Growth |
10 |
Stock Price |
|
|
|
|
|
|
|
|
|
|
| Increase |
9.35% |
-12.46% |
57.37% |
40.90% |
-8.43% |
11.15% |
35.10% |
17.70% |
16.77% |
-23.66% |
18.81% |
19.21% |
14.17% |
|
|
|
12.64% |
<-IRR #YR-> |
10 |
Stock Price |
|
|
|
|
|
|
|
|
|
|
| P/E |
13.40 |
9.52 |
11.52 |
13.93 |
10.77 |
11.62 |
14.06 |
14.58 |
15.66 |
10.98 |
10.55 |
10.93 |
12.28 |
|
|
|
7.59% |
<-IRR #YR-> |
5 |
Stock Price |
|
|
|
|
|
|
|
|
|
|
| Trailer P/E |
15.80 |
11.73 |
14.98 |
16.23 |
12.75 |
11.97 |
15.70 |
16.55 |
17.02 |
11.95 |
13.05 |
12.58 |
12.48 |
|
|
|
14.39% |
<-IRR #YR-> |
10 |
Price & Div |
|
|
|
|
|
|
|
|
|
|
| Median 10, 5 Yrs |
|
D. per yr |
1.76% |
1.53% |
% Tot Ret |
12.20% |
16.76% |
|
Price Inc |
16.77% |
P/E: |
11.95 |
10.98 |
|
|
|
9.12% |
<-IRR #YR-> |
5 |
Price & Div |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-$13.94 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$45.81 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-$31.78 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$45.81 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-$13.94 |
$0.21 |
$0.27 |
$0.33 |
$0.39 |
$0.42 |
$0.45 |
$0.49 |
$0.54 |
$0.65 |
$46.54 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-$31.78 |
$0.45 |
$0.49 |
$0.54 |
$0.65 |
$46.54 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| High Month |
|
|
|
|
|
|
|
Oct 05 |
Feb 07 |
Sep 07 |
Feb 09 |
Sep 10 |
Jul 11 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Pre-split 02 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Price Hi |
$11.73 |
$10.33 |
$18.87 |
$22.37 |
$20.20 |
$22.75 |
$35.00 |
$34.86 |
$40.25 |
$35.53 |
$39.65 |
$46.92 |
$49.15 |
|
|
|
160.47% |
<-Total Growth |
10 |
Stock Price |
|
|
|
|
|
|
|
|
|
|
| Increase |
4.27% |
-11.94% |
82.67% |
18.55% |
-9.70% |
12.62% |
53.85% |
-0.40% |
15.46% |
-11.73% |
11.60% |
18.34% |
4.75% |
|
|
|
10.05% |
<-IRR #YR-> |
10 |
Stock Price |
|
|
|
|
|
|
|
|
|
|
| P/E |
15.54 |
11.11 |
15.60 |
15.87 |
12.10 |
13.23 |
18.23 |
15.99 |
16.98 |
13.77 |
12.43 |
12.78 |
13.18 |
|
|
|
7.11% |
<-IRR #YR-> |
5 |
Stock Price |
|
|
|
|
|
|
|
|
|
|
| Trailing P/E |
18.33 |
13.68 |
20.29 |
18.49 |
14.33 |
13.62 |
20.35 |
18.16 |
18.46 |
14.99 |
15.37 |
14.71 |
13.39 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Median 10, 5 Yrs |
|
|
|
|
|
|
|
|
Price Inc |
11.60% |
P/E: |
13.50 |
13.18 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-$18.87 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$49.15 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-$34.86 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$49.15 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Low Month |
|
|
|
|
|
|
|
Feb 06 |
Aug 07 |
Feb 08 |
Oct 08 |
Nov 09 |
Feb 11 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Pre-split 02 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Price Low |
$8.50 |
$7.38 |
$9.00 |
$16.90 |
$15.76 |
$17.22 |
$19.00 |
$28.70 |
$33.97 |
$21.13 |
$27.67 |
$33.33 |
$42.47 |
|
|
|
371.89% |
<-Total Growth |
10 |
Stock Price |
|
|
|
|
|
|
|
|
|
|
| Increase |
17.24% |
-13.18% |
21.95% |
87.78% |
-6.75% |
9.26% |
10.34% |
51.05% |
18.36% |
-37.80% |
30.95% |
20.46% |
27.42% |
|
|
|
16.78% |
<-IRR #YR-> |
10 |
Stock Price |
|
|
|
|
|
|
|
|
|
|
| P/E |
11.26 |
7.94 |
7.44 |
11.99 |
9.44 |
10.01 |
9.90 |
13.17 |
14.33 |
8.19 |
8.67 |
9.08 |
11.39 |
|
|
|
8.15% |
<-IRR #YR-> |
5 |
Stock Price |
|
|
|
|
|
|
|
|
|
|
| Trailing P/E |
13.28 |
9.77 |
9.68 |
13.97 |
11.18 |
10.31 |
11.05 |
14.95 |
15.58 |
8.92 |
10.72 |
10.45 |
11.57 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Median 10, 5 Yrs |
|
|
|
|
|
|
|
|
Price Inc |
20.46% |
P/E: |
9.95 |
9.08 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-$9.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$42.47 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-$28.70 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$42.47 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Market Cap $M |
$916 |
$969 |
$929 |
$1,786 |
$1,858 |
$1,803 |
$3,884 |
$3,855 |
$4,007 |
$3,512 |
$3,770 |
$4,744 |
$4,517 |
$5,298 |
$5,298 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Pre-split 02 |
50.4 |
50.2 |
|
|
restated |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| # of Shares |
100.7 |
100.4 |
100.2 |
99.5 |
97.8 |
96.6 |
114.4 |
114.7 |
114.5 |
110.6 |
108.5 |
105.1 |
101.1 |
101.1 |
101.1 |
|
0.92% |
<-Total Growth |
10 |
Shares |
|
|
|
|
|
|
|
|
|
|
| Increase |
-0.83% |
-0.29% |
-0.25% |
-0.68% |
-1.68% |
-1.24% |
18.46% |
0.27% |
-0.21% |
-3.43% |
-1.82% |
-3.21% |
-3.79% |
0.00% |
0.00% |
|
0.27% |
<-Median-> |
10 |
Shares |
|
|
|
|
|
|
|
|
|
|
| OCF |
$193.9 |
$153.0 |
$146.2 |
$226.0 |
$205.7 |
$309.4 |
$281.9 |
$392.0 |
$363.3 |
$450.2 |
$520.1 |
$547.8 |
$543.2 |
$608.5 |
$656.0 |
|
271.55% |
<-Total Growth |
10 |
Cash Flow |
|
|
|
|
|
|
|
|
|
|
| OPS |
$1.93 |
$1.52 |
$1.46 |
$2.27 |
$2.10 |
$3.20 |
$2.46 |
$3.42 |
$3.17 |
$4.07 |
$4.79 |
$5.21 |
$5.37 |
$6.02 |
$6.49 |
|
268.17% |
<-Total Growth |
10 |
Cash Flow |
|
|
|
|
|
|
|
|
|
|
| Increase |
63.62% |
-20.89% |
-4.18% |
55.64% |
-7.42% |
52.30% |
-23.08% |
38.69% |
-7.12% |
28.33% |
17.66% |
8.81% |
3.07% |
12.03% |
7.81% |
|
13.24% |
<-Average |
10 |
Cash Flow |
|
|
|
|
|
|
|
|
|
|
| Non-Cash CF |
-$72.70 |
$5.89 |
$61.00 |
-$15.00 |
$39.10 |
-$99.70 |
-$9.30 |
$10.60 |
$72.20 |
-$16.30 |
$1.20 |
$32.90 |
$24.40 |
$0.00 |
$0.00 |
|
13.92% |
<-IRR #YR-> |
10 |
Cash Flow |
|
|
|
|
|
|
|
|
|
|
| OPS non-cash |
$1.20 |
$1.58 |
$2.07 |
$2.12 |
$2.50 |
$2.17 |
$2.38 |
$3.51 |
$3.80 |
$3.92 |
$4.80 |
$5.53 |
$5.62 |
$6.02 |
$6.49 |
|
9.48% |
<-IRR #YR-> |
5 |
Cash Flow |
|
|
|
|
|
|
|
|
|
|
| Increase |
5.36% |
31.44% |
30.76% |
2.53% |
18.00% |
-13.26% |
9.74% |
47.30% |
8.40% |
3.18% |
22.37% |
15.08% |
1.60% |
7.21% |
7.81% |
|
10.50% |
<-IRR #YR-> |
10 |
CF - non cash |
|
|
|
|
|
|
|
|
|
| P/OCF on Cl |
7.56 |
6.10 |
4.48 |
8.46 |
7.59 |
8.60 |
14.25 |
9.58 |
9.20 |
8.09 |
7.23 |
8.17 |
7.96 |
8.71 |
8.08 |
|
9.86% |
<-IRR #YR-> |
5 |
CF - non cash |
|
|
|
|
|
|
|
|
|
| *Operational
Cash Flow per share Shares A & B) |
|
|
|
|
|
P/CF |
10 yr |
8.32 |
5 yr |
8.09 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-$1.46 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$5.37 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-$3.42 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$5.37 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-$2.07 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$5.62 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-$3.51 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$5.62 |
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
| OPM |
4.9% |
3.3% |
3.0% |
4.4% |
3.6% |
5.2% |
4.2% |
3.6% |
3.4% |
4.2% |
4.6% |
4.8% |
4.8% |
|
|
|
should be zero, it is a check
on calculations |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Diff from Ave |
12.8% |
-23.6% |
-30.2% |
2.1% |
-17.1% |
19.9% |
-2.1% |
-16.7% |
-20.6% |
-2.4% |
8.0% |
12.2% |
10.5% |
|
|
|
0.00 |
<-Median-> |
10 |
OPM |
|
|
|
|
|
|
|
|
|
|
| *Operational Profit Margin (CF/Revenue) Ratio |
|
|
|
|
|
|
|
|
OPM |
10 Yrs |
4.30% |
5 Yrs |
4.65% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
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|
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|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Curr Assets |
$382.8 |
$421.8 |
$504.5 |
$555.6 |
$604.1 |
$607.3 |
$960.9 |
$1,061.3 |
$1,054.7 |
$1,148.0 |
$1,283.2 |
$1,249.0 |
$1,323.8 |
|
|
|
Liq ratio of 1.5 and up, best |
|
Assets |
|
|
|
|
|
|
|
|
|
|
| Curr Liab. |
$425.0 |
$447.6 |
$492.1 |
$571.1 |
$691.4 |
$623.9 |
$1,054.0 |
$1,093.9 |
$1,069.1 |
$1,126.8 |
$1,152.4 |
$1,142.6 |
$1,144.9 |
|
|
|
0.98 |
<-Median-> |
10 |
Liabilities |
|
|
|
|
|
|
|
|
|
|
| Liquidity |
0.90 |
0.94 |
1.03 |
0.97 |
0.87 |
0.97 |
0.91 |
0.97 |
0.99 |
1.02 |
1.11 |
1.09 |
1.16 |
|
|
|
1.09 |
<-Median-> |
5 |
Ratio |
|
|
|
|
|
|
|
|
|
|
| Liq. with CF aft div |
|
|
|
|
|
|
|
|
|
|
|
|
1.57 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Liq. CF re Inv+Div |
|
|
|
|
|
|
|
|
|
|
|
|
1.31 |
|
|
|
|
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|
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|
|
|
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|
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|
|
|
|
|
|
|
| Total Assets |
$996.2 |
$1,059.7 |
$1,186.0 |
$1,332.1 |
$1,507.1 |
$1,563.8 |
$3,927.3 |
$4,163.9 |
$4,273.9 |
$4,411.1 |
$4,666.2 |
$4,821.6 |
$4,958.8 |
|
|
|
A/L ratio of 1.5 and up, best |
|
Assets |
|
|
|
|
|
|
|
|
|
|
| Total Liab. |
$603.9 |
$598.0 |
$628.0 |
$687.9 |
$755.2 |
$711.7 |
$2,414.0 |
$2,440.1 |
$2,341.6 |
$2,350.0 |
$2,402.1 |
$2,378.8 |
$2,390.8 |
|
|
|
1.94 |
<-Median-> |
10 |
Liabilities |
|
|
|
|
|
|
|
|
|
|
| Liquidity |
1.65 |
1.77 |
1.89 |
1.94 |
2.00 |
2.20 |
1.63 |
1.71 |
1.83 |
1.88 |
1.94 |
2.03 |
2.07 |
|
|
|
1.94 |
<-Median-> |
5 |
Ratio |
|
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|
|
|
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|
|
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|
|
|
|
|
| Book Value |
$392 |
$462 |
$558 |
$644 |
$752 |
$852 |
$1,513 |
$1,724 |
$1,932 |
$2,061 |
$2,264 |
$2,443 |
$2,568 |
$2,568 |
|
|
360.22% |
<-Total Growth |
10 |
Book Value |
|
|
|
|
|
|
|
|
|
|
| BV per share |
$3.90 |
$4.60 |
$5.57 |
$6.48 |
$7.69 |
$8.82 |
$13.23 |
$15.02 |
$16.88 |
$18.64 |
$20.86 |
$23.25 |
$25.40 |
$25.40 |
$25.40 |
|
356.03% |
<-Total Growth |
10 |
Book Value |
|
|
|
|
|
|
|
|
|
|
| Change |
15.47% |
18.03% |
21.16% |
16.24% |
18.72% |
14.75% |
49.93% |
13.61% |
12.34% |
10.46% |
11.88% |
11.47% |
9.27% |
0.00% |
|
|
0.9683 |
Current/Historical |
|
Book Value |
|
|
|
|
|
|
|
|
|
|
| P/BV (CL) |
2.34 |
2.10 |
1.66 |
2.77 |
2.47 |
2.12 |
2.57 |
2.24 |
2.07 |
1.70 |
1.67 |
1.94 |
1.76 |
2.06 |
|
|
16.39% |
<-IRR #YR-> |
10 |
Book Value |
|
|
|
|
|
|
|
|
|
|
| Change |
-14.80% |
-10.16% |
-20.67% |
66.50% |
-10.84% |
-14.41% |
21.32% |
-12.86% |
-7.27% |
-17.82% |
-2.29% |
16.63% |
-9.42% |
17.27% |
|
|
11.08% |
<-IRR #YR-> |
5 |
Book Value |
|
|
|
|
|
|
|
|
|
|
| Leverage (A/BK) |
2.54 |
2.30 |
2.13 |
2.07 |
2.00 |
1.84 |
2.60 |
2.42 |
2.21 |
2.14 |
2.06 |
1.97 |
1.93 |
0.00 |
|
|
2.06 |
<-Median-> |
10 |
A/BV |
|
|
|
|
|
|
|
|
|
|
| Debt/Equity Ratio |
1.54 |
1.30 |
1.13 |
1.07 |
1.00 |
0.84 |
1.60 |
1.42 |
1.21 |
1.14 |
1.06 |
0.97 |
0.93 |
|
|
|
1.06 |
<-Median-> |
10 |
Debt/Eq Ratio |
|
|
|
|
|
|
|
|
|
| Averages |
|
|
|
|
|
|
|
|
P/BV |
10 Yrs |
2.13 |
5 Yrs |
1.83 |
|
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|
|
|
-$5.57 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$25.40 |
|
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|
|
|
-$15.02 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$25.40 |
|
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| ROE |
|
|
|
|
|
|
|
|
14.4% |
14.1% |
15.6% |
16.1% |
15.1% |
|
|
|
15.05% |
<-Median-> |
5 |
Compreh. Inc |
|
|
|
|
|
|
|
|
|
| Comprehensive Inc |
|
|
|
|
|
|
|
|
$277.4 |
$290.0 |
$353.4 |
$393.5 |
$386.6 |
|
|
|
|
|
|
Compreh. Inc |
|
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|
|
|
|
| ROE |
19.5% |
21.1% |
22.0% |
22.3% |
22.2% |
19.8% |
12.6% |
14.7% |
14.3% |
14.2% |
15.7% |
16.0% |
15.0% |
|
|
|
Net Income/Shareholders' equity |
|
|
|
|
|
|
|
|
|
|
|
|
| 5Yr Median |
20.2% |
21.1% |
21.1% |
21.1% |
22.0% |
22.0% |
22.0% |
19.8% |
14.7% |
14.3% |
14.3% |
14.7% |
15.0% |
|
|
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|
|
|
|
| Net Income |
$76.4 |
$97.3 |
$122.8 |
$143.7 |
$166.8 |
$168.8 |
$190.4 |
$253.0 |
$276.6 |
$292.7 |
$354.4 |
$391.8 |
$386.3 |
|
|
|
214.58% |
<-Total Growth |
10 |
Net Income |
|
|
|
|
|
|
|
|
|
|
| Oper C. F. |
$193.9 |
$153.0 |
$146.2 |
$226.0 |
$205.7 |
$309.4 |
$281.9 |
$392.0 |
$363.3 |
$450.2 |
$520.1 |
$547.8 |
$543.2 |
|
|
|
|
C F Statement |
|
Oper C. F. |
|
|
|
|
|
|
|
|
|
|
| Invest. C. F |
-$237.0 |
-$63.6 |
-$109.1 |
-$155.4 |
-$149.1 |
-$135.6 |
-$1,319.6 |
-$181.9 |
-$169.6 |
-$188.6 |
-$258.8 |
-$339.8 |
-$227.0 |
|
|
|
|
C F Statement |
|
Invest. C. F |
|
|
|
|
|
|
|
|
|
|
| Total Accruals |
$119.5 |
$7.9 |
$85.7 |
$73.1 |
$110.2 |
-$5.0 |
$1,228.1 |
$42.9 |
$82.9 |
$31.1 |
$93.1 |
$183.8 |
$70.1 |
|
|
|
|
|
|
Accruals |
|
|
|
|
|
|
|
|
|
|
| Total Assets |
$996.2 |
$1,059.7 |
$1,186.0 |
$1,332.1 |
$1,501.9 |
$1,563.8 |
$3,927.3 |
$4,163.9 |
$4,273.9 |
$4,411.1 |
$4,666.2 |
$4,821.6 |
$4,958.8 |
|
|
|
|
Balance Sheet |
|
Assets |
|
|
|
|
|
|
|
|
|
|
| Accruals Ratio |
12.00% |
0.75% |
7.23% |
5.49% |
7.34% |
-0.32% |
31.27% |
1.03% |
1.94% |
0.71% |
2.00% |
3.81% |
1.41% |
|
|
|
|
|
|
Ratio |
|
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|
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|
|
|
| chge in Cl |
-1.6% |
6.0% |
-3.9% |
93.5% |
5.8% |
-1.8% |
81.9% |
-1.0% |
4.2% |
-9.2% |
9.3% |
30.0% |
-1.0% |
|
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|
|
| Expected? |
|
down |
|
down |
down |
down |
up |
down |
neutral |
neutral |
neutral |
neutral |
neutral |
|
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|
|
| Happened? |
|
up |
|
up |
up |
down |
up |
down |
down |
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|
|
| Predictive? |
|
|
|
|
|
yes |
yes |
yes |
no |
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| Fin. C. F |
|
|
|
|
-$50.3 |
-$153.3 |
$1,088.5 |
-$138.2 |
-$169.6 |
-$210.4 |
-$171.6 |
-$234.7 |
-$275.4 |
|
|
|
|
C F Statement |
|
Fin. C. F |
|
|
|
|
|
|
|
|
|
|
| Total Accruals |
|
|
|
|
$160.5 |
$148.3 |
$139.6 |
$181.1 |
$252.5 |
$241.5 |
$264.7 |
$418.5 |
$345.5 |
|
|
|
|
|
|
Accruals |
|
|
|
|
|
|
|
|
|
|
| Accruals Ratio |
|
|
|
|
10.69% |
9.48% |
3.55% |
4.35% |
5.91% |
5.47% |
5.67% |
8.68% |
6.97% |
|
|
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|
|
|
Ratio |
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|
| Dec 31,
2011. Last I checked I got estimates
for 2011 and 2012 of $3.88 and $4.19 for EPS and $6.11 and $6.50 for CF. |
|
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|
|
| Dec 31,
2010. The last time I reviewed this
stock, I got estimates for 2010 and 2011 for earnings of 3.40 and $3.70 and
CF of $5.10 and $5.55. |
|
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|
|
| Jan 08,
2010. When I last looked at this stock
in Mar 2009, I got 2009 earnings of $2.57 |
|
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|
|
| 2008. This stock is doing very well. One concern
is lack of Revenue growth for 2007 and 2008. |
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| 2007. I was doing well up to Sept 2007. |
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|
|
| 2006. Dividend rate is low, but increasing
rapidly. Sales are not increasing more
than earnings. Accural Ratio is much
better. |
|
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|
|
|
| 2005: I
am still happy with this stock. It seems to be leaverage, which is not
good, but sales and Dividends and Earnings per share are increasing.
Negatatives are: Accrual Ratio is high, debt is high and earnings |
|
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|
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| per share are
increasing faster than sales. |
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|
|
| 2004: This
stock is doing what I bought it for. I
am still happy with it. However, I
note current liability and current assets are close. 2004 |
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|
|
| 2003: This
stock is doing exactly what I bought it to do. Good Dividend Growth and reasonable stock
price growth. I am still happy with it. |
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|
| Class B
shares have 16 votes each. They are
mostly owned by independent store owners.
Class B shares have about 8.9% of the vote. |
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|
|
| Serge Ferland
is the only director with Class B shares and he has just over 10,000 of the
630,000 outstanding |
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| How they make
their money |
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| Metro is a
leader in the food and pharmaceutical sectors. It operates a network of close
to 600 food stores under the banners Metro, |
|
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|
|
| Metro Plus,
Super C, A & P, Dominion, Loeb and Food Basics. It has 250 pharmacies
under the banners Brunet, Clini Plus, The Pharmacy and Drug Basics. |
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| Metro's
operations are concentrated in Quebec and Ontario. |
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| Under TSX
Consumer Staples index |
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| For most
ratios, lower is better when looking for a good stock price. However, there are exceptions such as for
yield and asset/liability ratios and here you want a higher ratios to
indicate a good stock price. |
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| Also, for
the Operational Profit Margin, a higher percentage is better. With the OPM, you should only compare
companies in similar industries. |
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| Copyright ©
2008 Website of SPBrunner. All rights reserved. |
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| My capital gain |
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|
10/08/04 |
-$17,679 |
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16/11/11 |
$54,950 |
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16.88% |
XIRR |
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18.23% |
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1.35% |
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