This report should not be construed as providing investment advice. It is for educational purposes only. Before making any investment decision, you should always do your own research or consult a investment professional.
While I try to be accurate, I assume no responsibility for any figure in this spreadsheet. Estimates Estimates Estimates
See my website on stocks or see my blog at the following sites. www.spbrunner.com/stocks.html www.spbrunner.blogspot.com/ Q3 2016
Mullen Group Ltd. TSX: MTL OTC: MLLGF www.mullen-group.com Fiscal Yr: Dec 31
Year 12/31/04 12/31/05 12/31/06 12/31/07 12/31/08 12/31/09 12/31/10 12/31/11 12/31/12 12/31/13 12/31/14 12/31/15 12/31/16 12/31/17 12/31/18 Value Description #Y Item
Accounting Rules C GAAP IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS Accounting Rules
$1,065 <-12 mths -12.30%
Revenue* $470.9 $491.7 $1,003.3 $1,119.5 $1,314.2 $978.0 $1,039.8 $1,387.3 $1,427.6 $1,437.2 $1,427.9 $1,214.4 $1,050 $1,204 $1,356 146.97% <-Total Growth 10 Revenue
Increase 11.72% 4.42% 104.04% 11.58% 17.39% -25.58% 6.31% 33.42% 2.91% 0.67% -0.65% -14.95% -13.54% 14.67% 12.62% 9.46% <-IRR #YR-> 10 Revenue
5 year Running Average $373.4 $407.2 $538.0 $701.4 $879.9 $981.4 $1,091.0 $1,167.8 $1,229.4 $1,254.0 $1,344.0 $1,378.9 $1,311.4 $1,266.7 $1,250.4 3.15% <-IRR #YR-> 5 Revenue
Revenue per Share $10.42 $10.41 $12.31 $13.86 $16.30 $12.13 $13.21 $17.16 $16.28 $15.85 $15.59 $13.25 $10.13 $11.62 $13.08 12.97% <-IRR #YR-> 10 5 yr Running Average
Increase 10.57% -0.16% 18.33% 12.61% 17.60% -25.58% 8.86% 29.92% -5.11% -2.66% -1.68% -15.00% -23.54% 14.67% 12.62% 4.80% <-IRR #YR-> 5 5 yr Running Average
5 year Running Average $8.48 $9.03 $9.88 $11.29 $12.66 $13.00 $13.56 $14.53 $15.02 $14.93 $15.62 $15.63 $14.22 $13.29 $12.73 2.45% <-IRR #YR-> 10 Revenue per Share
P/S (Price/Sales) Med 1.40 2.36 2.19 1.39 1.02 1.03 1.17 1.15 1.29 1.56 1.62 1.36 1.64 1.66 0.00 0.06% <-IRR #YR-> 5 Revenue per Share
P/S (Price/Sales) Close 1.59 3.14 1.52 1.27 0.78 1.35 1.28 0.99 1.28 1.79 1.37 1.06 1.96 1.59 1.41 5.64% <-IRR #YR-> 10 5 yr Running Average
*Revenue in M CDN $ P/S Med 10 yr 1.33 5 yr 1.36 47.46% Diff M/C 2.87% <-IRR #YR-> 5 5 yr Running Average
-$491.7 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $1,214.4
-$1,039.8 $0.0 $0.0 $0.0 $0.0 $1,214.4
-$407.2 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $1,378.9
-$1,091.0 $0.0 $0.0 $0.0 $0.0 $1,378.9
-$10.41 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $13.25
-$13.21 $0.00 $0.00 $0.00 $0.00 $13.25
-$9.03 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $15.63
-$13.56 $0.00 $0.00 $0.00 $0.00 $15.63
$0.57 <-12 mths 280.00%
EPS Basic $1.03 $1.51 $1.86 -$1.45 $1.40 $1.13 $1.00 $1.50 $1.58 $1.60 $1.04 $0.15 -90.07% <-Total Growth 10 Earnings Basic
EPS Diluted $1.02 $1.51 $1.86 -$1.45 $1.40 $1.10 $0.98 $1.43 $1.52 $1.57 $1.02 $0.15 $0.67 $0.85 $1.23 -90.07% <-Total Growth 10 Earnings Diluted
Increase 37.67% 47.56% 23.18% -177.96% 196.55% -21.43% -10.91% 45.92% 6.29% 3.29% -35.03% -85.29% 346.67% 26.87% 44.71% -20.62% <-IRR #YR-> 10 Earnings per Share
Earnings Yield 6.2% 4.6% 10.0% -8.2% 11.0% 6.7% 5.8% 8.4% 7.3% 5.5% 4.8% 1.1% 3.4% 4.6% 6.7% -31.30% <-IRR #YR-> 5 Earnings per Share
5 year Running Average $0.72 $0.88 $1.11 $0.74 $0.87 $0.88 $0.78 $0.69 $1.29 $1.32 $1.30 $1.14 $0.99 $0.85 $0.78 2.64% <-IRR #YR-> 10 5 yr Running Average
10 year Running Average $0.54 $0.66 $0.82 $0.63 $0.73 $0.80 $0.83 $0.90 $1.01 $1.09 $1.09 $0.96 $0.84 $1.07 $1.05 7.90% <-IRR #YR-> 5 5 yr Running Average
* ESP per share (Cdn GAAP) E/P 10 Yrs 6.26% 5Yrs 5.53%
-$1.51 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.15
-$0.98 $0.00 $0.00 $0.00 $0.00 $0.15
-$0.88 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.14
-$0.78 $0.00 $0.00 $0.00 $0.00 $1.14
Special Dividend $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 <-Median-> 10 Special Dividends
Pre-split 2005 $0.50
Dividend* $0.17 $0.68 $1.79 $1.80 $1.80 $0.50 $0.50 $0.88 $1.00 $1.35 $1.20 $1.20 $0.66 $0.36 $0.36 77.78% <-Total Growth 10 Dividends
Increase 25.00% 305.00% 164.44% 0.84% 0.00% -72.22% 0.00% 75.00% 14.29% 35.00% -11.11% 0.00% -45.00% -45.45% 0.00% 0.42% <-Median-> 10 Increase
Dividends 5 Yr Running $0.56 $0.59 $0.84 $1.09 $1.35 $1.31 $1.28 $1.10 $0.94 $0.85 $0.99 $1.13 $1.08 $0.95 $0.76 109.35% <-Median-> 10 Dividends 5 Yr Running
Yield H/L Price 1.14% 2.74% 6.61% 9.36% 10.77% 3.99% 3.24% 4.44% 4.75% 5.44% 4.76% 6.65% 3.98% 5.10% <-Median-> 10 Yield H/L Price
Yield on High Price 1.00% 2.06% 4.91% 7.96% 7.62% 2.97% 2.94% 3.89% 4.27% 4.56% 3.85% 5.27% 3.30% 4.41% <-Median-> 10 Yield on High Price
Yield on Low Price 1.32% 4.09% 10.14% 11.34% 18.37% 6.10% 3.60% 5.18% 5.36% 6.75% 6.21% 9.00% 5.02% 6.48% <-Median-> 10 Yield on Low Price
Yield on Close Price 1.00% 2.06% 9.55% 10.23% 14.11% 3.06% 2.96% 5.16% 4.78% 4.76% 5.63% 8.57% 3.33% 1.95% 1.95% 5.40% <-Median-> 10 Yield on Close Price
Payout Ratio EPS 16.29% 44.70% 95.97% -124.14% 128.57% 45.45% 51.02% 61.19% 65.79% 85.99% 117.65% 800.00% 98.51% 42.35% 29.27% 75.89% <-Median-> 10 DPR EPS
DPR EPS 5 Yr Running 77.71% 67.06% 75.51% 148.10% 154.87% 148.42% 164.14% 158.24% 72.71% 64.02% 75.54% 98.86% 109.74% 111.97% 96.43% 123.48% <-Median-> 8 DPR EPS 5 Yr Running
Payout Ratio CFPS 10.72% 44.19% 63.98% 69.15% 71.10% 18.99% 42.01% 31.57% 29.64% 56.52% 35.79% 35.89% 42.04% 19.67% 19.67% 38.95% <-Median-> 10 DPR CF
DPR CF 5 Yr Running 55.83% 51.31% 55.43% 56.39% 61.12% 54.28% 54.35% 46.68% 37.40% 34.19% 37.66% 36.93% 38.57% 38.21% 31.69% 50.48% <-Median-> 10 DPR CF 5 Yr Running
Payout Ratio CFPS WC 10.73% 30.99% 62.95% 75.80% 58.86% 33.31% 26.45% 24.10% 27.95% 40.07% 32.06% 35.59% 42.04% 19.67% 19.67% 34.45% <-Median-> 10 DPR CF WC
DPR CF WC 5 Yr Running 51.56% 43.95% 49.51% 53.99% 56.05% 54.90% 54.76% 43.96% 34.23% 30.24% 30.38% 31.79% 34.61% 34.36% 30.62% 46.73% <-Median-> 8 DPR CF WC 5 Yr Running To Date
Median Values 5 Yr Med 5 Yr Cl 4.76% 5.16% 5 Yr Med Payout 85.99% 35.79% 32.06% 5.92% <-IRR #YR-> 10 Dividends -6.01%
* Dividends per share 5 Yr Med and Cur. -59.06% -62.26% Last Div Inc ---> $0.10 $0.08 -20.0% 19.14% <-IRR #YR-> 5 Dividends 1.87%
-$0.68 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.20
-$0.50 $0.00 $0.00 $0.00 $0.00 $1.20
Historical Dividends Historical High Div 13.45% Low Div 1.01% Ave Div 7.23% Med Div 4.22% Close Div 3.91% Historical Dividends
High/Ave/Median Values Curr diff Exp. -85.52% 92.88% Exp. -73.06% Exp. -53.84% Exp. -50.13% High/Ave/Median
Future Div Yield Div Yd 3.17% earning in 10.00 Years at IRR of 5.00% Div Inc. 62.89% Future Div Yield
Future Div Yield Div Yd 4.05% earning in 15.00 Years at IRR of 5.00% Div Inc. 107.89% Future Div Yield
I am earning GC Div Gr -45.00% 12/22/14 # yrs -> -114 2014 $20.15 Cap Gain -1.59% I am earning GC
I am earning Div org yield 5.96% 1/31/15 Trading Div G Yrly -99.57% Div start $1.20 -5.96% 3.28% I am earning Div
Cost covered if held 5 years 15.79% 20.56% 29.81% 46.96% 55.13% 44.93% 25.95% 20.28% 24.30% 25.28% 39.34% 36.41% 27.47% 22.67% 15.24% 33.11% <-Median-> 10 Paid Median Price
Cost covered if held 10 years 70.92% 113.72% 119.37% 105.69% 86.23% 95.11% 92.53% 78.66% 48.81% 40.32% 49.09% 47.91% 92.53% <-Median-> 9 Paid Median Price
Cost covered if held 15 years 133.96% 181.77% 197.13% 180.69% 141.97% 144.23% 126.00% 181.23% <-Median-> 4 Paid Median Price
Cost covered if held 20 years 198.27% 242.66% #NUM! <-Median-> 0 Paid Median Price
Yield if held 5 yrs 2.63% 9.00% 18.39% 18.54% 15.94% 3.42% 2.03% 3.24% 5.20% 8.08% 9.58% 7.77% 3.35% 1.71% 1.45% 7.92% <-Median-> 10 Paid Median Price
Yield if held 10 yrs 24.27% 28.99% 7.89% 6.67% 9.02% 10.30% 11.95% 8.22% 4.88% 2.44% 1.87% 2.15% 9.02% <-Median-> 9 Paid Median Price
Yield if held 15 yrs 13.48% 21.74% 18.95% 16.00% 6.80% 3.71% 3.19% 17.47% <-Median-> 4 Paid Median Price
Yield if held 20 yrs 4.85% 5.80% #NUM! <-Median-> 0 Paid Median Price
Graham No. $11.73 $15.35 $27.04 $21.02 $20.80 $18.87 $18.14 $16.69 $17.94 $18.72 $15.02 $5.45 $11.87 $13.37 $16.09 -64.52% <-Total Growth 10 Graham Price
Price/GP Ratio Med 1.24 1.60 1.00 0.92 0.80 0.66 0.85 1.18 1.17 1.33 1.68 3.31 1.40 1.44 1.09 <-Median-> 10 Price/GP Ratio
Price/GP Ratio High 1.42 2.13 1.35 1.08 1.14 0.89 0.94 1.35 1.31 1.58 2.07 4.18 1.69 1.50 1.33 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Low 1.07 1.08 0.65 0.76 0.47 0.43 0.77 1.01 1.04 1.07 1.29 2.45 1.11 1.38 0.89 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Close 1.42 2.13 0.69 0.84 0.61 0.87 0.93 1.02 1.16 1.52 1.42 2.57 1.67 1.38 1.15 0.97 <-Median-> 10 Price/GP Ratio
Prem/Disc Close 41.70% 112.92% -30.89% -16.25% -38.65% -13.37% -6.77% 1.59% 16.48% 51.66% 41.89% 157.16% 67.00% 38.17% 14.86% -2.59% <-Median-> 10 Graham Price
Year 2016
Pre-split 2005
Price Close $16.62 $32.69 $18.69 $17.60 $12.76 $16.35 $16.91 $16.95 $20.90 $28.39 $21.31 $14.01 $19.83 $18.48 $18.48 -57.14% <-Total Growth 10 Stock Price D. per yr 5.83% 6.10%
Increase 26.20% 96.69% -42.83% -5.83% -27.50% 28.13% 3.43% 0.24% 23.30% 35.84% -24.94% -34.26% 41.54% -6.81% 0.00% -8.12% <-IRR #YR-> 10 Stock Price 0.59%
P/E 16.24 21.65 10.05 -12.14 9.11 14.86 17.26 11.85 13.75 18.08 20.89 93.40 29.60 21.74 15.02 -3.69% <-IRR #YR-> 5 Stock Price 3.19%
Trailing P/E 22.36 31.94 12.38 9.46 -8.80 11.68 15.37 17.30 14.62 18.68 13.57 13.74 132.20 27.58 21.74 -2.85% <-IRR #YR-> 10 Price & Dividend 6.43%
Median 10, 5 Yrs D. per yr 5.27% 7.11% % Tot Ret 0.00% 208.13% Price Inc $0.03 P/E: $14.31 16.09 3.42% <-IRR #YR-> 5 Price & Dividend 9.29%
-$32.69 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $14.01
-$16.91 $0.00 $0.00 $0.00 $0.00 $14.01
-$32.69 $1.79 $1.80 $1.80 $0.50 $0.50 $0.88 $1.00 $1.35 $1.20 $15.21
-$16.91 $0.88 $1.00 $1.35 $1.20 $15.21
Price H/L Median $14.60 $24.61 $27.00 $19.24 $16.71 $12.52 $15.45 $19.70 $21.05 $24.81 $25.22 $18.06 $16.59 $19.27 -26.62% <-Total Growth 10 Stock Price D. per yr 4.97% 5.89%
Increase 29.26% 68.53% 9.71% -28.73% -13.15% -25.07% 23.40% 27.48% 6.85% 17.87% 1.67% -28.41% -8.14% 16.16% -3.05% <-IRR #YR-> 10 Stock Price -4.75%
P/E 14.27 16.29 14.51 -13.27 11.94 11.38 15.77 13.77 13.85 15.80 24.73 120.37 24.75 22.66 3.17% <-IRR #YR-> 5 Stock Price -3.38%
Trailing P/E 19.64 24.04 17.88 10.34 -11.52 8.94 14.05 20.10 14.72 16.32 16.06 17.70 110.57 28.75 2.57% <-IRR #YR-> 10 Price & Dividend 0.22%
P/E on Running 5 yr Average 20.26 28.05 24.31 26.09 19.24 14.16 19.86 28.46 16.36 18.79 19.34 15.87 16.82 22.61 9.94% <-IRR #YR-> 5 Price & Dividend 2.51%
P/E on Running 10 yr Average 27.19 37.07 32.87 30.49 22.91 15.60 18.67 21.85 20.80 22.67 23.05 18.85 19.77 18.02 14.90 P/E Ratio Historical Median
Median 10, 5 Yrs D. per yr 5.61% 6.77% % Tot Ret 218.80% 68.15% Price Inc 6.85% P/E: 14.18 15.80 Count 19 Years of data
-$24.61 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $18.06
-$15.45 $0.00 $0.00 $0.00 $0.00 $18.06
-$24.61 $1.79 $1.80 $1.80 $0.50 $0.50 $0.88 $1.00 $1.35 $1.20 $19.26
-$15.45 $0.88 $1.00 $1.35 $1.20 $19.26
High Months Dec Dec Jun Jun Jun Dec Jan Jul Oct Nov Jul Apr Dec Jan
Pre-split 2005
Price High $16.62 $32.70 $36.39 $22.61 $23.62 $16.84 $17.00 $22.49 $23.44 $29.60 $31.13 $22.78 $20.02 $20.05 -30.34% <-Total Growth 10 Stock Price
Increase 26.20% 96.75% 11.28% -37.87% 4.47% -28.70% 0.95% 32.29% 4.22% 26.28% 5.17% -26.82% -12.12% 0.15% -3.55% <-IRR #YR-> 10 Stock Price
P/E 16.24 21.66 19.56 -15.59 16.87 15.31 17.35 15.73 15.42 18.85 30.52 151.87 29.88 23.59 6.03% <-IRR #YR-> 5 Stock Price
Trailing P/E 22.36 31.95 24.10 12.16 -16.29 12.03 15.45 22.95 16.39 19.47 19.83 22.33 133.47 29.93 17.72 P/E Ratio Historical Median
Median 10, 5 Yrs Price Inc 5.17% P/E: 17.11 18.85 22.79 P/E Ratio Historical High
-$32.70 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $22.78
-$17.00 $0.00 $0.00 $0.00 $0.00 $22.78
Low Months Jan Jan Nov Nov Dec Feb Aug Jan Jan Apr Dec Dec Feb Feb
Price Low $12.58 $16.51 $17.60 $15.87 $9.80 $8.20 $13.90 $16.90 $18.65 $20.01 $19.31 $13.33 $13.15 $18.48 -19.26% <-Total Growth 10 Stock Price
Increase 33.55% 31.24% 6.60% -9.83% -38.25% -16.33% 69.51% 21.58% 10.36% 7.29% -3.50% -30.97% -1.35% 40.53% -2.12% <-IRR #YR-> 10 Stock Price
P/E 12.29 10.93 9.46 -10.94 7.00 7.45 14.18 11.82 12.27 12.75 18.93 88.87 19.63 21.74 -0.83% <-IRR #YR-> 5 Stock Price
Trailing P/E 16.92 16.13 11.66 8.53 -6.76 5.86 12.64 17.24 13.04 13.16 12.30 13.07 87.67 27.58 11.82 P/E Ratio Historical Median
Median 10, 5 Yrs Price Inc 7.29% P/E: 12.04 12.75 7.45 P/E Ratio Historical Low
-$16.51 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $13.33
Long Term Debt $692.91 $696.86 $540.93 Debt
Debt/Market Cap Ratio 0.35 0.54 0.26 0.45 <-Median-> 2 Debt/Market Cap Ratio
Goodwill $131.3 $1,041.8 $794.4 $844.4 $846.4 $851.5 $241.5 $239.6 $244.4 $257.8 $344.2 Goodwill
Goodwill/Market Cap Ratio 0.09 0.68 0.56 0.82 0.64 0.64 0.18 0.13 0.09 0.13 0.27 0.41 <-Median-> 10 Goodwill/Market Cap Ratio
Intangibles $0.0 $116.3 $82.7 $89.1 $72.4 $53.0 $41.7 $31.4 $30.1 Intangibles
Intangible/Market Cap Ratio 0.00 0.08 0.06 0.09 0.05 0.03 0.02 0.02 0.02 0.04 <-Median-> 8 Intangible/Market Cap Ratio
GW Intangible/Market Cap Ratio 0.09 0.76 0.62 0.91 0.70 0.64 0.18 0.16 0.11 0.15 0.29 0.45 <-Median-> 10 GW Intangible/Market Cap Ratio
Market Cap $751 $1,545 $1,523 $1,421 $1,029 $1,318 $1,331 $1,370 $1,832 $2,574 $1,952 $1,284 $2,055 $1,916 $1,916 -16.87% <-Total Growth 10 Market Cap
Diluted # of Sh in Million 88.42 91.05 90.26 91.79 92.50 93.03 91.69 $97.7 $97.7 3.69% <-Total Growth 6 Diluted
Change 2.97% -0.87% 1.69% 0.78% 0.57% -1.44% 6.51% 0.00% 0.67% <-Median-> 6 Change
Average # of Sh in M 45.02 46.26 68.89 81.60 80.49 80.61 79.41 79.88 82.96 89.76 91.38 91.65 $97.7 $97.7 $97.7 98.12% <-Total Growth 10 Average
Increase 1.04% 2.75% 48.91% 18.46% -1.36% 0.14% -1.48% 0.60% 3.85% 8.20% 1.80% 0.30% 6.55% 0.00% 1.20% <-Median-> 10 Change
Difference 0.36% 2.15% 18.30% -1.05% 0.14% 0.00% -0.87% 1.19% 5.67% 1.00% 0.26% 0.01% 6.14% 6.14% 0.20% <-Median-> 10 Difference
$287 <-12 mths -6.17%
# of Share in M 45.186 47.256 81.490 80.744 80.605 80.605 78.718 80.838 87.668 90.662 91.611 91.661 103.654 103.654 103.654 6.85% <-IRR #YR-> 10 Shares
Increase 1.04% 4.58% 72.44% -0.92% -0.17% 0.00% -2.34% 2.69% 8.45% 3.42% 1.05% 0.05% 13.08% 0.00% 0.00% 3.09% <-IRR #YR-> 5 Shares
CF fr Op $M $70.0 $70.7 $192.2 $212.4 $203.8 $212.2 $94.5 $221.4 $279.9 $214.4 $306.4 $306.4 $153.3 $178.7 $178.7 333.58% <-Total Growth 10 Cash Flow
Increase 30.11% 0.96% 171.94% 10.52% -4.06% 4.14% -55.46% 134.27% 26.40% -23.39% 42.91% 0.00% -49.96% 16.56% 0.00% S. Issue SO, Buy Backs to 2014
5 year Running Average $43.9 $51.4 $81.6 $119.8 $149.8 $178.2 $183.0 $188.9 $202.3 $204.5 $223.3 $265.7 $252.1 $231.9 $224.7 417.08% <-Total Growth 10 CF 5 Yr Running
CFPS $1.55 $1.53 $2.79 $2.60 $2.53 $2.63 $1.19 $2.77 $3.37 $2.39 $3.35 $3.34 $1.57 $1.83 $1.83 118.84% <-Total Growth 10 Cash Flow per Share
Increase 28.77% -1.74% 82.62% -6.70% -2.74% 3.99% -54.79% 132.88% 21.71% -29.19% 40.39% -0.30% -53.04% 16.56% 0.00% 15.80% <-IRR #YR-> 10 Cash Flow
5 year Running Average $1.00 $1.15 $1.51 $1.94 $2.20 $2.42 $2.35 $2.35 $2.50 $2.47 $2.62 $3.05 $2.81 $2.50 $2.39 26.52% <-IRR #YR-> 5 Cash Flow
P/CF on Med Price 9.39 16.11 9.68 7.39 6.60 4.76 12.98 7.11 6.24 10.39 7.52 5.40 10.56 10.53 0.00 8.15% <-IRR #YR-> 10 Cash Flow per Share
P/CF on Closing Price 10.69 21.40 6.70 6.76 5.04 6.21 14.21 6.12 6.20 11.89 6.36 4.19 12.63 10.10 10.10 22.94% <-IRR #YR-> 5 Cash Flow per Share
101.03% Diff M/C 10.26% <-IRR #YR-> 10 CFPS 5 yr Running
Excl.Working Capital CF $0.0 $30.1 $3.2 -$18.6 $42.4 -$91.2 $55.6 $68.7 $17.0 $88.0 $35.6 $2.6 $0.0 $0.0 $0.0 5.33% <-IRR #YR-> 5 CFPS 5 yr Running
CF fr Op $M WC $70.0 $100.8 $195.3 $193.8 $246.1 $121.0 $150.1 $290.1 $296.9 $302.4 $342.1 $309.0 $153.3 $178.7 $178.7 206.64% <-Total Growth 10 Cash Flow less WC
Increase 34.25% 44.03% 93.85% -0.80% 27.02% -50.85% 24.08% 93.23% 2.34% 1.87% 13.11% -9.66% -50.38% 16.56% 0.00% 11.86% <-IRR #YR-> 10 Cash Flow less WC
5 year Running Average $47.5 $60.1 $90.1 $122.4 $161.2 $171.4 $181.3 $200.2 $220.8 $232.1 $276.3 $308.1 $280.7 $257.1 $232.4 15.53% <-IRR #YR-> 5 Cash Flow less WC
CFPS Excl. WC $1.55 $2.18 $2.84 $2.37 $3.06 $1.50 $1.89 $3.63 $3.58 $3.37 $3.74 $3.37 $1.57 $1.83 $1.83 17.76% <-IRR #YR-> 10 CF less WC 5 Yr Run
Increase 32.87% 40.18% 30.18% -16.26% 28.77% -50.92% 25.95% 92.08% -1.46% -5.85% 11.12% -9.93% -53.43% 16.56% 0.00% 11.19% <-IRR #YR-> 5 CF less WC 5 Yr Run
5 year Running Average $1.09 $1.34 $1.69 $2.02 $2.40 $2.39 $2.33 $2.49 $2.73 $2.79 $3.24 $3.54 $3.13 $2.78 $2.47 4.46% <-IRR #YR-> 10 CFPS - Less WC
P/CF on Med Price 9.40 11.30 9.52 8.10 5.46 8.34 8.17 5.42 5.88 7.36 6.74 5.36 12.27% <-IRR #YR-> 5 CFPS - Less WC
P/CF on Closing Price 10.70 15.01 6.59 7.41 4.17 10.89 8.95 4.67 5.84 8.43 5.69 4.16 12.63 10.10 10.10 10.21% <-IRR #YR-> 10 CFPS 5 yr Running
*Operational Cash Flow per share CF/-WC P/CF Med 10 yr 6.28 5 yr 6.20 P/CF Med 10 yr 7.05 5 yr 5.88 79.15% Diff M/C 8.70% <-IRR #YR-> 5 CFPS 5 yr Running
-$1.53 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.34 Cash Flow per Share
-$1.19 $0.00 $0.00 $0.00 $0.00 $3.34 Cash Flow per Share
-$1.15 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.05 CFPS 5 yr Running
-$2.35 $0.00 $0.00 $0.00 $0.00 $3.05 CFPS 5 yr Running
-$100.8 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $309.0 Cash Flow less WC
-$150.1 $0.0 $0.0 $0.0 $0.0 $309.0 Cash Flow less WC
-$60.1 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $308.1 CF less WC 5 Yr Run
-$181.3 $0.0 $0.0 $0.0 $0.0 $308.1 CF less WC 5 Yr Run
-$2.18 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.37 CFPS - Less WC
-$1.89 $0.00 $0.00 $0.00 $0.00 $3.37 CFPS - Less WC
OPM 14.87% 14.37% 19.15% 18.97% 15.50% 21.70% 9.09% 15.96% 19.60% 14.92% 21.46% 25.23% 75.56% <-Total Growth 10 OPM
Increase 16.46% -3.31% 33.27% -0.95% -18.28% 39.94% -58.11% 75.59% 22.82% -23.90% 43.85% 17.58% Should increase or be stable.
Diff from Ave -22.0% -24.6% 0.5% -0.5% -18.7% 13.8% -52.3% -16.3% 2.8% -21.7% 12.6% 32.4% 0.00 <-Median-> 10 OPM
*Operational Profit Margin (CF/Revenue) Ratio OPM 10 Yrs 19.06% 5 Yrs 19.60% should be zero, it is a check on calculations
Current Assets $89.84 $128.79 $293.45 $293.83 $282.91 $392.48 $389.78 $378.76 $387.04 $344.13 $589.19 $353.12 $474.90 174.19% <-Total Growth 10 Quick Ratio
Current Liabilities $56.07 $83.26 $141.45 $116.41 $127.11 $117.24 $147.08 $162.91 $149.10 $123.30 $128.70 $166.06 $236.09 2.56 <-Median-> 10 Ratio
Liquidity 1.60 1.55 2.07 2.52 2.23 3.35 2.65 2.32 2.60 2.79 4.58 2.13 2.01 2.60 <-Median-> 5 Ratio
Liq. with CF aft div 2.72 2.02 2.56 3.09 2.69 4.81 3.02 3.26 3.92 3.55 6.11 3.31 2.39 3.55 <-Median-> 5 Ratio
Liq. CF re Inv+Div 1.72 1.07 0.89 1.72 1.04 4.14 1.77 1.73 2.27 1.69 3.47 1.30 2.39 1.73 <-Median-> 5 Ratio
CF/Debt Ratio 1.25 0.85 1.36 1.82 1.60 1.81 0.64 1.36 1.88 1.74 2.38 1.85 0.65 Liquidity ratio of 1.5 and up, best
Assets $400.71 $508.62 $2,021 $1,770 $1,882 $1,927 $1,941 $1,527.1 $1,555.9 $1,587.6 $1,862.1 $1,817.0 $1,886.5 257.25% <-Total Growth 10 Assets
Liabilities $130.73 $180.75 $597 $638 $775 $760 $759 $822.8 $728.8 $687.5 $961.2 $1,010.4 $916.4 2.37 <-Median-> 10 Ratio
Debt Ratio 3.07 2.81 3.39 2.77 2.43 2.54 2.56 1.86 2.13 2.31 1.94 1.80 2.06 1.94 <-Median-> 5 Ratio
Debt Ratio of 1.5 and up, best
Total Equity $270 $328 $1,424 $1,132 $1,107 $1,167 $1,182 $704.3 $827.1 $900.1 $900.9 $806.6 $970.1
Eq Conv. Debentures $7.20 $7.19 $4.83 $1.84 $0.74 $0.55 $0.55 $0.55
Book Value $270 $328 $1,424 $1,132 $1,107 $1,160 $1,175 $699.5 $825.3 $899.4 $900.4 $806.1 $969.5 $969.5 $969.5 145.86% <-Total Growth 10 Book Value
Book Value per Share $5.97 $6.94 $17.48 $14.02 $13.73 $14.39 $14.92 $8.65 $9.41 $9.92 $9.83 $8.79 $9.35 $9.35 $9.35 26.75% <-Total Growth 10 Book Value per Share
Change 19.11% 16.13% 151.87% -19.77% -2.06% 4.80% 3.68% -42.01% 8.79% 5.38% -0.92% -10.52% 6.36% 0.00% 0.00% 17.85% P/B Ratio Current/10 Year Median
P/B Ratio (Median) 2.44 3.55 1.54 1.37 1.22 0.87 1.04 2.28 2.24 2.50 2.57 2.05 1.77 2.13 P/B Ratio Historical Median
P/B Ratio (Close) 2.78 4.71 1.07 1.26 0.93 1.14 1.13 1.96 2.22 2.86 2.17 1.59 2.12 1.98 1.98 2.40% <-IRR #YR-> 10 Book Value per Share
Change 5.95% 69.38% -77.30% 17.37% -25.98% 22.27% -0.24% 72.85% 13.34% 28.90% -24.24% -26.52% 33.08% -6.81% 0.00% -10.03% <-IRR #YR-> 5 Book Value per Share
Leverage (A/BK) 1.48 1.55 1.42 1.56 1.70 1.65 1.64 2.17 1.88 1.76 2.07 2.25 1.94 1.73 <-Median-> 10 A/BV
Debt/Equity Ratio 0.48 0.55 0.42 0.56 0.70 0.65 0.64 1.17 0.88 0.76 1.07 1.25 0.94 0.73 <-Median-> 10 Debt/Eq Ratio
Sharerholders Equity (Assets less liabilities) P/BV 10 yr Med 1.80 5 yr Med 2.28 9.83% Diff M/C Affected by new accting rules.
-$6.94 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $8.79
-$14.92 $0.00 $0.00 $0.00 $0.00 $8.79
$55 <-12 mths 311.63%
Comprehensive Inc $128.1 -$118.7 $113.0 $90.8 $79.1 $119.4 $130.9 $143.3 $94.6 $13.4 -89.57% <-Total Growth 9 Comprehensive Income
Increase -192.64% 195.20% -19.64% -12.90% 50.99% 9.61% 9.46% -33.96% -85.88% 9.46% <-Median-> 5 Comprehensive Income
ROE 9.0% -10.5% 10.2% 7.8% 6.7% 17.0% 15.8% 15.9% 10.5% 1.7% 15.83% <-Median-> 5 Comprehensive Income
5Yr Median 7.8% 7.8% 10.2% 15.8% 15.8% 15.8% -22.21% <-IRR #YR-> 9 Comprehensive Income
% Difference from NI 0.00% 0.00% 0.00% -0.62% -0.61% -0.69% -0.22% -0.08% -0.06% -0.07% -29.92% <-IRR #YR-> 5 Comprehensive Income
Median Values Diff 5, 10 yr -0.1% -0.1%
-$128.1 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $13.4
-$79.1 $0.0 $0.0 $0.0 $0.0 $13.4
Return on Assets 11.6% 13.8% 6.3% -6.7% 6.0% 4.7% 4.1% 7.8% 8.4% 9.0% 5.1% 0.7% Net Income/Assets ROA
5Yr Median 11.6% 11.6% 8.5% 8.5% 6.3% 6.0% 4.7% 4.7% 6.0% 7.8% 7.8% 7.8% 7.8% <-Median-> 5 ROA
ROE 17.2% 21.3% 9.0% -10.5% 10.2% 7.8% 6.7% 17.1% 15.9% 15.9% 10.5% 1.7% Net Inc/ Shareholders' equity ROE
5Yr Median 17.2% 17.2% 14.5% 14.5% 10.2% 9.0% 7.8% 7.8% 10.2% 15.9% 15.9% 15.9% 15.9% <-Median-> 5 ROE
$55 <-12 mths 311.63%
Net Income $46.5 $70.0 $128.1 -$118.7 $113.0 $90.8 $79.1 $119.4 $130.9 $143.3 $94.6 $13.4 $69.5 $85.8 $127 -80.90% <-Total Growth 10 Net Income
Increase 43.36% 50.53% 83.14% -192.63% 195.20% -19.64% -12.90% 50.99% 9.61% 9.46% -33.96% -85.88% 419.98% 23.45% 48.02% EPS/CF Ratio should not be higher than 1.00
5 Yr Running Average $31.6 $39.4 $58.9 $31.7 $47.8 $56.6 $58.5 $56.7 $106.7 $112.7 $113.5 $100.3 $90.3 $81.3 $78.1 -15.26% <-IRR #YR-> 10 Net Income
Operating Cash Flow $70.0 $70.7 $192.2 $212.4 $203.8 $212.2 $94.5 $221.4 $279.9 $214.4 $306.4 $306.4 -29.92% <-IRR #YR-> 5 Net Income
Investment Cash Flow -$32.7 -$74.2 -$265.4 -$92.5 -$201.6 -$19.0 -$104.4 -$143.3 -$107.9 -$136.2 -$98.1 -$257.9 9.79% <-IRR #YR-> 10 5 Yr Running Average
Total Accruals $9.1 $73.5 $201.3 -$238.6 $110.8 -$102.4 $89.0 $41.3 -$41.1 $65.1 -$113.7 -$35.1 11.40% <-IRR #YR-> 5 5 Yr Running Average
Total Assets $400.7 $508.6 $2,021.0 $1,770.5 $1,882.1 $1,926.9 $1,941.0 $1,527.1 $1,555.9 $1,587.6 $1,862.1 $1,817.0 Balance Sheet Assets
Accruals Ratio 2.28% 14.45% 9.96% -13.48% 5.89% -5.31% 4.58% 2.70% -2.64% 4.10% -6.11% -1.93% -1.93% <-Median-> 5 Ratio
EPS/CF Ratio 0.66 0.69 0.66 -0.61 0.46 0.73 0.52 0.39 0.42 0.47 0.27 0.04 0.44 <-Median-> 10 EPS/CF Ratio
-$70.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $13.4
-$79.1 $0.0 $0.0 $0.0 $0.0 $13.4
-$39.4 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $100.3
-$58.5 $0.0 $0.0 $0.0 $0.0 $100.3
Change in Close 26.20% 96.69% -42.83% -5.83% -27.50% 28.13% 3.43% 0.24% 23.30% 35.84% -24.94% -34.26% 41.54% -6.81% 0.00% count 21 Change in Close
up/down down down down up down up up count 10
Meet Prediction? yes yes yes % right count 4 40.00%
Financial Cash Flow -$37.4 $3.6 $122.6 -$90.1 -$81.0 $11.4 -$81.7 -$125.9 -$114.9 -$143.6 $114.0 -$148.5 C F Statement Financial CF
Total Accruals $46.5 $70.0 $78.7 -$148.5 $191.9 -$113.8 $170.7 $167.2 $73.8 $208.7 -$227.7 $113.4 Accruals
Accruals Ratio 11.60% 13.75% 3.90% -8.38% 10.19% -5.91% 8.79% 10.95% 4.74% 13.14% -12.23% 6.24% 6.24% <-Median-> 5 Ratio
Cash $0.00 $0.00 $49.40 $79.16 $0.29 $204.90 $113.31 $65.93 $122.77 $58.24 $325.37 $147.24 $261.26 Cash
Cash Flow per Share $0.00 $0.00 $0.61 $0.98 $0.00 $2.54 $1.44 $0.82 $1.40 $0.64 $3.55 $1.61 $2.52 $1.40 <-Median-> 5 Cash per Share
Percentage of Stock Price 0.00% 0.00% 3.24% 5.57% 0.03% 15.55% 8.51% 4.81% 6.70% 2.26% 16.67% 11.47% 12.71% 6.70% <-Median-> 5 % of Stock Price
February 1, 2017. Last estimates were for 2016 and 2017 of $1143M and $1262M for Revenue, $0.59 and $0.97 for EPS, $1.70 and $1.95 for CFPS and $59.6M and $89.5M for Net Income.
February 21, 2016. Last estimates were for 2015, 2016 and 2017 of 1384M, $1527M and $1562M for revenue, $0.95 and $1.18 for EPS for 2015 and 2016, $2.14 and $2.70 for CFPS for 2015 and 2016, $85M and $107M for 2015 and 2016 for Net Income.
February 25, 2015, last estimates were for 2014, 2015 and 2016 of $1454M, $1641M and $1677M for Revenue, $1.20, $1.37 and $1.48 for EPS,
$2.55 and $2.75 for 2014 and 2015 for CFPS and $105M, $130M and $148M for Net Income.
December 14. 2014, last estimates were for 2013, 2014 and 2015 of $1441M, $1547M and $1597M for Revenue, $1.69, $1.85 and $2.02 for EPS,
$2.84, $3.29 and $3.45 for CFPS and $162M, $167M and $182M for Net Income.
December 18, 2013. Last estimates were for 2012 and 2013 of $1441M and $1499M Revenue, $1.64 and $1.66 EPS and $3.14 and $3.65 CFPS.
December 16, 2012. Last estimates were for 2011 and 2012 of $1344M and $1479M for revenue and $1.41 and $1.67 for EPS and $2.69 and $3.07 for CFPS.
November 19, 2011. Last estimates were for 2010 and 2011 at $.93 and $.14 for EPS and $1.65 and 2.08 for CF
Mullen Group recognized $545.5M good will impairment against retained earnings. Resulted in decrease in Book Value of shares.
May 30, 2010. Price is just below book value. 2009 was a bad year for this company. It is expected to start to recover in 2010 and 2011.
Mullen Group (TSX-MTL) was formerly Mullen Group Income Fund (TSX-MTL.UN). Conversion was 1 May 2009.
In 2007, there was a good will and intangible asset impairment charge. Without this charge the company would have made about $1.92 in earnings. In same calculations, I am using this figure.
Started to follow this stock because it was recommendated as a good small cap stock to invest in in 2010.
The stock was Mullen Transportation Inc. in 2004. In 2005 it changed to Mullen Group Income Fund (TSX-MTL.UN).
On May 1, 2009, the company converted to a corporation and became Mullen Group (TSX-MTL).
Dividends
Dividends are currently being paid monthly. The dividends went from quarterly to monthly in 2013 with one quarterly payment in 2013. Dividends declared for shareholders on one month are paid in the following month.
For example, the dividend for shareholders of record for March 31, 2013 was payable on April 15, 2013.
Dividends went from monthly to quarter in 2009 in cycle 1. The dividends were against changed to monthly in 2013. Since dividends are declared in one month for the next month, there was one quarterly dividend payment in 2013.
Special dividend in 2001 was because of split-off of Moveitonline
Why am I following this stock.
I like to look at recommended small cap dividend paying stock to see if they would be a possible good investment now or in the future. The other thing to mention about this stock is that
it recently converted from an income trust and has decreased it dividends. The reduction in dividend brought the Dividend Payout Ratios down to a place that would allow for the company to begin growing again.
How they make their money.
Mullen Group Ltd. is a corporation that owns a network of independently operated businesses. Mullen is recognized as the largest provider of specialized transportation and related services to the oil and natural gas industry in
Western Canada and is one of the leading suppliers of trucking and logistics services in Canada - two sectors of the economy in which Mullen has strong business relationships and industry leadership.
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.
Also, for the Operational Profit Margin, a higher percentage is better. With the OPM, you should only compare companies in similar industries.
Shares; '%, Value $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M
Date Dec 17 2012 Dec 19 2013 Dec 14 2014 Feb 15 2015 Feb 21 2016
Mullen, Murray Kenneth 2.495 2.85% 2.745 3.03% 2.911 3.18% 2.911 3.18% 2.911 2.81%
Chairman of Board & CEO $52.151 $77.938 $62.039 $40.787 $57.731
Options - percentage 0.250 0.29% 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00%
Options - amount $5.225 $0.000 $0.000 $0.000 $0.000
Clark, Peter W. Stephen 0.019 0.02% 0.037 0.04% 0.037 0.04% 0.037 0.04% 0.037 0.04%
CFO - Shares - Amount $0.394 $1.039 $0.780 $0.513 $0.726
Options - percentage 0.115 0.13% 0.090 0.10% 0.090 0.10% 0.090 0.10% 0.140 0.14%
Options - amount $2.404 $2.555 $1.918 $1.261 $2.776
Maloney, Richard James 0.014 0.01%
Officer $0.274
Options - percentage 0.160 0.15%
Options - amount $3.173
Lockwood, Stephen H. 0.420 0.48% 0.480 0.53% 0.480 0.52% 0.480 0.52% 0.000 0.00% was co-ceo until 2016
Director - Shares - Amount $8.779 $13.614 $10.219 $6.718 $0.000
Options - percentage 0.050 0.06% 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00%
Options - amount $1.045 $0.000 $0.000 $0.000 $0.000
Archibald, Alan Douglas 0.023 0.03% 0.023 0.02% 0.023 0.02% 0.027 0.03%
Director - Shares - Amount $0.650 $0.488 $0.321 $0.533
Options - percentage 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00%
Options - amount $0.000 $0.000 $0.000 $0.000
Bay, Greg 0.047 0.05% 0.047 0.05% 0.047 0.05% 0.047 0.05%
Director - Shares - Amount $0.982 $1.001 $0.658 $0.932
Options - percentage 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00%
Options - amount $0.000 $0.000 $0.000 $0.000
Powell, Patrick Garth 1.895 2.34%
Director - resigned 2011 $32.126
Increase in O/S Shares 0.413 0.46% 0.627 0.69% 0.547 0.60% 0.050 0.05%
due to SO $11.714 $17.812 $11.658 $0.706
Book Value $0.000 $13.793 $12.573 $0.850
Insider Buying -$0.155 -$0.333 -$0.199
Insider Selling $0.000 $1.035
Net Insider Selling -$0.333 $0.836
% of Market Cap -0.01% -0.03% 0.04%
Directors 7 8 8 8
Women 0 0% 0 0% 0 0% 0 0%
Minorities 0 0% 0 0% 0 0% 0 0%
Institutions/Holdings 74 30.84% 71 40.44% 93 41.98% 77 40.17% 80 67.41%
Total Shares Held 26.934 30.72% 36.620 40.39% 38.456 41.98% 36.800 40.15% 61.787 59.61%
Increase/Decrease -0.289 -1.06% 0.912 2.55% 0.755 2.00% 1.002 2.80% 10.018 19.35%
Starting No. of Shares 27.223 35.708 37.701 35.798 51.770
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