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. 9/30/11
See my website on stocks or see my blog at the following sites.  www.spbrunner.com/stocks.html www.spbrunner.blogspot.com/
Power Corp of Canada www.powercorporation.com TSX: POW Fiscal Yr: Dec 31
Year 12/31/99 12/31/00 12/31/01 12/31/02 12/31/03 12/31/04 12/31/05 12/31/06 12/31/07 12/31/08 12/31/09 12/31/10 12/31/11 12/30/12 12/30/13
split 2 C GAAP IFRS
Revenue* $14,751 $16,906 $18,349 $19,017 $15,747 $24,323 $26,561 $30,304 $29,408 $37,099 $33,152 $32,896 $41,005 $32,618 94.58% <-Total Growth 10 Revenue
Increase -2.02% 14.61% 8.54% 3.64% -17.20% 54.46% 9.20% 14.09% -2.96% 26.15% -10.64% -0.77% 24.65% -20.45% 6.88% <-IRR #YR-> 10 Revenue
Rev per Share $33.38 $38.42 $41.46 $42.81 $35.57 $54.67 $59.14 $67.12 $64.79 $81.30 $72.50 $71.73 $89.16 $70.92 4.37% <-IRR #YR-> 5 Revenue
P/S (Price/Sales) 0.37 0.48 0.47 0.42 0.68 0.57 0.54 0.53 0.62 0.28 0.40 0.39 0.27 0.35 6.44% <-IRR #YR-> 10 Rev Per Share
*Revenue in M CDN $  P/S 10 yr  0.50 5 yr  0.40 3.93% <-IRR #YR-> 5 Rev Per Share
-$16,906 $0 $0 $0 $0 $0 $0 $0 $0 $0 $32,896
-$26,561 $0 $0 $0 $0 $32,896
-$38.42 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $71.73
-$59.14 $0.00 $0.00 $0.00 $0.00 $71.73
EPS* $1.18 $1.47 $1.35 $1.38 $2.74 $2.03 $2.25 $2.97 $3.10 $1.80 $1.40 $1.89 $2.53 $2.47 $2.69 29.01% <-Total Growth 10 Earnings
Increase 25.53% 24.15% -8.19% 2.60% 98.55% -25.91% 10.84% 32.00% 4.38% -41.94% -22.22% 35.00% 33.86% -2.37% 8.91% 2.58% <-IRR #YR-> 10 Earnings
Earnings Yield 9.5% 7.9% 6.9% 7.7% 11.3% 6.5% 7.1% 8.4% 7.7% 8.0% 4.8% 6.8% 10.6% 9.9% 10.8% -3.43% <-IRR #YR-> 5 Earnings
* ESP per share (Cdn GAAP) E/P 10 Yrs 7.39% 5Yrs 7.72%
-$1.47 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.89
-$2.25 $0.00 $0.00 $0.00 $0.00 $1.89
pre-split '98
pre-split '04 $0.49 $0.58
Div* $0.25 $0.29 $0.34 $0.40 $0.47 $0.55 $0.65 $0.76 $0.92 $1.11 $1.16 $1.16 $1.16 $1.16 $1.16 303.48% 303.48% <-Total Growth 10 Dividends
Increase 11.36% 17.35% 17.39% 17.60% 18.12% 17.98% 17.52% 17.12% 20.85% 20.79% 4.39% 0.00% 0.00% 0.00% 0.00% 17.56% 17.56% <-Median-> 10 Dividends
Yield H/L Pr. 1.72% 2.03% 1.96% 2.09% 2.24% 2.04% 2.10% 2.35% 2.43% 3.76% 5.06% 4.14% 4.61% 2.30% 2.30% <-Median-> 10 Dividends
Yield on High  Pr. 1.38% 1.53% 1.72% 1.79% 1.92% 1.78% 1.92% 2.09% 2.21% 2.82% 3.75% 3.74% 3.95% 2.00% 2.00% <-Median-> 10 Dividends
Yield on Low Pr. 2.26% 3.01% 2.29% 2.52% 2.69% 2.38% 2.30% 2.69% 2.70% 5.64% 7.74% 4.64% 5.52% 2.69% 2.69% <-Median-> 10 Dividends
Yield on Cl Pr. 1.98% 1.55% 1.73% 2.21% 1.94% 1.78% 2.05% 2.16% 2.29% 4.96% 3.97% 4.19% 4.87% 4.64% 4.64% 2.18% 2.18% <-Median-> 10 Dividends
Payout Ratio 20.8% 19.6% 25.1% 28.8% 17.1% 27.2% 28.9% 25.6% 29.7% 61.7% 82.9% 61.4% 45.8% 47.0% 43.1% 28.82% 28.82% <-Median-> 10 DPR EPS
Payout Ratio CF 29.9% 25.3% 6.3% 9.9% 7.9% 7.3% 6.4% 7.6% 9.1% 11.8% 11.9% 8.1% 9.1% 8.01% 8.01% <-Median-> 10 DPR CF
Payout Ratio CF NC 29.9% 25.3% 9.8% 9.5% 12.1% 6.3% 5.4% 7.3% 7.7% 13.5% 8.7% 8.2% 9.4% 8.46% 8.46% <-Median-> 10 DPR CF NC
Average 5 Yrs Div Yd 5.37% 5 6.23% 10 Yield  4.14% 4.19% Payout 61.38% 9.15% 16.59% 16.59% <-IRR #YR-> 10 Dividends
* Dividends per share  3.0% Years 3.0% Years Curr diff 11.95% Last Div Inc ---> $0.29 $0.29 0.0% 12.28% 12.28% <-IRR #YR-> 5 Dividends
-$0.25 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.16
-$0.76 $0.00 $0.00 $0.00 $0.00 $1.16
H/LYield held 5 yrs 4.73% 5.73% 5.61% 4.03% 3.16% 3.87% 4.59% 4.42% 4.85% 5.31% 4.27% 3.74% 3.58% 3.06% 3.93% 4.35% 4.15% <-Median-> 10 Dividends
H/LYield held 10 yrs 10.69% 12.95% 12.65% 9.34% 7.50% 8.13% 8.20% 6.74% 6.11% 5.54% 9.34% 8.77% <-Median-> 8 Dividends
H/LYield held 15 yrs 23.94% 22.42% 23.12% 19.28% 11.78% 7.83% 23.12% 22.77% <-Median-> 4 Dividends
H/LYield held 20 yrs 24.99% #NUM! #NUM! <-Median-> 0 Dividends
Graham Price $14.40 $17.18 $17.91 $19.40 $29.01 $26.03 $28.60 $35.68 $39.27 $29.43 $26.02 $25.94 $34.53 $34.11 $35.60 51.05% 92.76% <-Total Growth 10 Graham Price
Prem /Disc.Med H/L -0.85% -17.61% -3.92% -2.24% -27.81% 4.35% 8.44% -9.28% -3.55% 0.37% -11.84% 7.97% -27.07% -2.89% -2.89% <-Median-> 10 Graham Price
Prem /Disc. High 22.9% 9.2% 9.8% 14.3% -15.6% 19.3% 18.2% 2.3% 6.2% 33.8% 18.7% 19.6% -15.0% 16.27% 16.27% <-Median-> 10 Graham Price
Prem /Disc. Low -24.6% -44.4% -17.7% -18.8% -40.0% -10.6% -1.3% -20.8% -13.3% -33.1% -42.4% -3.6% -39.2% -18.21% -19.80% <-Median-> 10 Graham Price
Prem /Disc. Cl -14.0% 7.7% 8.8% -7.2% -16.6% 19.1% 10.7% -1.1% 2.2% -23.8% 12.3% 6.7% -31.0% -26.7% -29.7% 4.42% 0.54% <-Median-> 10 Graham Price
pre-split '98
pre-split '04 $24.75
Price Cl $12.38 $18.50 $19.48 $18.00 $24.20 $31.00 $31.66 $35.29 $40.13 $22.42 $29.21 $27.67 $23.82 $25.02 $25.02 49.57% 22.28% <-Total Growth 10 Stock Price
Increase -25.45% 49.49% 5.30% -7.60% 34.44% 28.10% 2.13% 11.47% 13.71% -44.13% 30.29% -5.27% -13.91% 5.04% 0.00% 4.11% 2.03% <-IRR #YR-> 10 Stock Price
P/E 10.49 12.63 14.48 13.04 8.83 15.27 14.07 11.88 12.95 12.46 20.86 14.64 9.42 10.13 9.30 -2.66% -7.56% <-IRR #YR-> 5 Stock Price
Trailing P/E 13.16 15.68 13.30 13.38 17.54 11.31 15.60 15.68 13.51 7.23 16.23 19.76 12.60 9.89 10.13 7.28% 5.76% <-IRR #YR-> 10 Price & Div
Median 10, 5 Yrs D.  per yr 3.73% 3.67% % Tot Ret 64.71% -94.29% Price Inc -5.27% P/E:  12.99 12.95 0.74% -3.89% <-IRR #YR-> 5 Price & Div
-$19.48 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $23.82
-$35.29 $0.00 $0.00 $0.00 $0.00 $23.82
-$19.48 $0.40 $0.47 $0.55 $0.65 $0.76 $0.92 $1.11 $1.16 $1.16 $24.98
-$35.29 $0.92 $1.11 $1.16 $1.16 $24.98
Price H/L Median $14.28 $14.15 $17.21 $18.97 $20.94 $27.17 $31.02 $32.37 $37.88 $29.54 $22.94 $28.01 $25.18 97.95% 46.31% <-Total Growth 10 Stock Price
Increase -3.63% -0.88% 21.63% 10.23% 10.38% 29.73% 14.19% 4.35% 17.02% -22.03% -22.33% 22.10% -10.10% 7.07% 3.88% <-IRR #YR-> 10 Stock Price
P/E 12.10 9.66 12.80 13.75 7.64 13.38 13.79 10.90 12.22 16.41 16.39 14.82 9.95 -2.02% -4.90% <-IRR #YR-> 5 Stock Price
Trailing P/E 15.19 11.99 11.75 14.10 15.17 9.91 15.28 14.39 12.75 9.53 12.74 20.01 13.32 10.67% 7.73% <-IRR #YR-> 10 Price & Div
Median 10, 5 Yrs D.  per yr 3.85% 3.76% % Tot Ret 49.83% -331.47% Price Inc -10.10% P/E:  13.56 14.82 1.40% -1.14% <-IRR #YR-> 5 Price & Div
-$17.21 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $25.18
-$32.37 $0.00 $0.00 $0.00 $0.00 $25.18
-$17.21 $0.40 $0.47 $0.55 $0.65 $0.76 $0.92 $1.11 $1.16 $1.16 $26.34
-$32.37 $0.92 $1.11 $1.16 $1.16 $26.34
Hi Mths Jul Jan Aug Jan Feb
pre-split '98
pre-split '04 $35.40
Price Hi $17.70 $18.75 $19.67 $22.18 $24.48 $31.05 $33.82 $36.49 $41.71 $39.37 $30.90 $31.02 $29.36 65.44% 49.26% <-Total Growth 10 Stock Price
Increase -5.60% 5.93% 4.91% 12.76% 10.37% 26.84% 8.92% 7.89% 14.31% -5.61% -21.51% 0.39% -5.35% 5.16% 4.09% <-IRR #YR-> 10 Stock Price
P/E 15.00 12.80 14.62 16.07 8.93 15.30 15.03 12.29 13.45 21.87 22.07 16.41 11.60 -1.71% -4.25% <-IRR #YR-> 5 Stock Price
Trailing P/E 18.83 15.89 13.43 16.49 17.74 11.33 16.66 16.22 14.04 12.70 17.17 22.16 15.53
Median 10, 5 Yrs Price Inc -5.35% P/E:  15.16 16.41
-$19.67 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $29.36
-$36.49 $0.00 $0.00 $0.00 $0.00 $29.36
Low Mths Jan Dec Mar Jul Sep
Price Low $10.85 $9.55 $14.75 $15.76 $17.40 $23.28 $28.22 $28.25 $34.05 $19.70 $14.98 $25.00 $21.00 161.78% 42.37% <-Total Growth 10 Stock Price
Increase -0.23% -11.98% 54.45% 6.85% 10.41% 33.79% 21.22% 0.11% 20.53% -42.14% -23.96% 66.89% -16.00% 10.10% 3.60% <-IRR #YR-> 10 Stock Price
P/E 9.19 6.52 10.97 11.42 6.35 11.47 12.54 9.51 10.98 10.94 10.70 13.23 8.30 -2.39% -5.76% <-IRR #YR-> 5 Stock Price
Trailing P/E 11.54 8.09 10.07 11.72 12.61 8.50 13.90 12.56 11.46 6.35 8.32 17.86 11.11
Median 10, 5 Yrs Price Inc -16.00% P/E:  10.96 10.94
-$14.75 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $21.00
Market Cap $M $5,468 $8,141 $8,621 $7,997 $10,714 $13,793 $14,219 $15,932 $18,215 $10,231 $13,357 $12,690 $10,955 $11,507 $11,507 Large Cap for Canada
# of Sh in M 441.89 440.05 442.58 444.26 442.71 444.95 449.12 451.46 453.89 456.32 457.26 458.63 459.90 459.90 459.90 Stated Capital Shares
Increase -0.62% -0.42% 0.58% 0.38% -0.35% 0.50% 0.94% 0.52% 0.54% 0.54% 0.21% 0.30% 0.28% 0.00% 0.00% 0.51% <-Median-> 10 Shares
CF fr Op $M $362 $501 $2,373 $1,786 $2,624 $3,388 $4,584 $4,506 $4,564 $4,293 $4,465 $6,563 $5,866 <-12mths 1209.98% <-Total Growth 10 Cash Flow
OPS $0.82 $1.14 $5.36 $4.02 $5.93 $7.61 $10.21 $9.98 $10.06 $9.41 $9.76 $14.31 $12.76 <-12mths 1156.89% <-Total Growth 10 Cash Flow
Increase -60.53% 38.98% 370.94% -25.02% 47.43% 28.47% 34.04% -2.21% 0.75% -6.44% 3.79% 46.55% -10.87% <-12mths 28.80% <-IRR #YR-> 10 Cash Flow
Less Non-Cash CF $0 $0 -$847 $64 -$908 $501 $839 $203 $859 -$535 $1,636 -$90 -$168 <-12mths 6.99% <-IRR #YR-> 5 Cash Flow
OPS non-cash $0.82 $1.14 $3.45 $4.16 $3.88 $8.74 $12.07 $10.43 $11.95 $8.24 $13.34 $14.11 $12.39 <-12mths 28.63% <-IRR #YR-> 10 Cash Flow
P/CF 15.11 16.25 5.65 4.32 6.24 3.55 2.62 3.38 3.36 2.72 2.19 1.96 1.92 <-12mths 3.17% <-IRR #YR-> 5 Cash Flow
*Operational Cash Flow per share P/CF 10 yr 3.37 5 yr  2.72
-$1.14 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $14.31
-$10.21 $0.00 $0.00 $0.00 $0.00 $14.31
OPM 2.5% 3.0% 12.9% 9.4% 16.7% 13.9% 17.3% 14.9% 15.5% 11.6% 13.5% 20.0% should be zero, it is a check on calculations
Diff from Ave -83.0% -79.4% -10.2% -34.8% 15.7% -3.3% 19.9% 3.3% 7.8% -19.6% -6.5% 38.6% 0.00 <-Median-> 10 OPM
*Operational Profit Margin (CF/Revenue) Ratio OPM 10 Yrs 14.40% 5 Yrs 14.87%
Curr Assets $2,952 $3,199 $4,226 $4,373 $6,408 $6,302 $7,783 $8,062 $9,427 $8,138 $8,074 $6,704 Liq ratio of 1.5 and up, best Assets
Curr Liab. $3,007 $3,078 $4,058 $3,300 $5,637 $5,449 $4,957 $4,091 $5,285 $4,642 $4,549 $4,718 1.66 <-Median-> 8 Liabilities
Liquidity 0.98 1.04 1.04 1.33 1.14 1.16 1.57 1.97 1.78 1.75 1.77 1.42 1.75 <-Median-> 3 Ratio
From G&M
Assets $57,908 $60,564 $68,730 $70,136 $107,199 $105,940 $112,999 $132,687 $133,145 $143,671 $143,007 $112,999 $253,993 A/L ratio of 1.5 and up, best Assets
Liab. $49,037 $51,149 $57,161 $57,188 $90,868 $87,829 $95,500 $112,103 $110,327 $119,934 $118,857 $95,500 $229,380 1.20 <-Median-> 10 Liabilities
Liquidity 1.18 1.18 1.20 1.23 1.18 1.21 1.18 1.18 1.21 1.20 1.20 1.18 1.11 1.20 <-Median-> 5 Ratio
Non-Control Int. $0 $0 $0 $0 $0 $0 $0 $0 $0 $13,980 $14,321 $10,240 $14,982
Book Value $3,450 $3,938 $4,692 $5,387 $6,042 $6,602 $7,259 $8,601 $10,037 $9,757 $9,829 $7,259 $9,631 $9,631 $9,631 84.33% <-Total Growth 10 Book Value
BV per share $7.81 $8.95 $10.60 $12.13 $13.65 $14.84 $16.16 $19.05 $22.11 $21.38 $21.50 $15.83 $20.94 $20.94 $20.94 76.86% <-Total Growth 10 Book Value
Change 10.38% 14.62% 18.47% 14.38% 12.55% 8.72% 8.93% 17.87% 16.07% -3.31% 0.53% -26.37% 32.31% 0.00% 0.00% 0.6660 Current/Historical Book Value
P/BV (CL) 1.59 2.07 1.84 1.48 1.77 2.09 1.96 1.85 1.81 1.05 1.36 1.75 1.14 1.19 1.19 5.87% <-IRR #YR-> 10 Book Value
Change -32.46% 30.42% -11.12% -19.21% 19.45% 17.82% -6.24% -5.44% -2.03% -42.22% 29.60% 28.65% -34.94% 5.04% 0.00% -0.42% <-IRR #YR-> 5 Book Value
Leverage (A/BK) 16.78 15.38 14.65 13.02 17.74 16.05 15.57 15.43 13.27 14.72 14.55 15.57 26.37 0.00 0.00 15.08 <-Median-> 10 A/BV
Debt/Equity Ratio 14.21 12.99 12.18 10.62 15.04 13.30 13.16 13.03 10.99 12.29 12.09 13.16 23.82 12.66 <-Median-> 10 Debt/Eq Ratio
Sharerholders Equity (Assets less liabilities) P/BV 10 yr Med 1.79 5 yr Med 1.75
-$8.95 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $15.83
-$16.16 $0.00 $0.00 $0.00 $0.00 $15.83
ROE 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.00% <-Median-> 5 Compreh. Inc
Comprehensive Inc $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 Cannot find in report
ROE 15.4% 16.7% 13.2% 12.0% 21.0% 14.4% 14.5% 16.2% 14.6% 7.0% 6.9% 14.5% 10.7% <-12mths Net Income/Shareholders' equity ROE
5Yr Median 12.5% 13.4% 13.4% 13.4% 15.4% 14.4% 14.4% 14.5% 14.6% 14.5% 14.5% 14.5% 10.7% <-12mths ROE
Net Income $533 $657 $618 $645 $1,268 $949 $1,053 $1,393 $1,463 $686 $682 $1,053 $1,032 <-12mths 60.27% <-Total Growth 10 Net Income
Oper C. F. $362 $501 $2,373 $1,786 $2,624 $3,388 $4,584 $4,506 $4,564 $4,293 $4,465 $6,563 C F Statement  Oper C. F.
Invest. C. F -$67 -$132 -$3,656 -$603 -$2,202 -$1,945 -$2,731 -$3,741 -$5,928 -$3,675 -$3,286 -$2,731 C F Statement  Invest. C. F
Total Accruals $238 $288 $1,901 -$538 $846 -$494 -$800 $628 $2,827 $68 -$497 -$2,779 Accruals
Total Assets $57,908 $60,564 $68,730 $70,136 $107,199 $105,940 $112,999 $132,687 $133,145 $143,671 $143,007 $112,999 Balance Sheet Assets
Accruals Ratio 0.41% 0.48% 2.77% -0.77% 0.79% -0.47% -0.71% 0.47% 2.12% 0.05% -0.35% -2.46% Ratio
up/down/neutral
Chge in Close -25.45% 49.49% 5.30% -7.60% 34.44% 28.10% 2.13% 11.47% 13.71% -44.13% 30.29% -5.27%
Any Predictions?
Fin C. F.  -$368 -$250 $1,849 -$722 $736 -$1,413 -$377 -$592 $2,284 -$1,798 -$825 -$377 C F Statement  Fin. C. F
Total Accruals  $606 $538 $52 $184 $110 $919 -$423 $1,220 $543 $1,866 $328 -$2,402 Accruals
Accruals Ratio 1.05% 0.89% 0.08% 0.26% 0.10% 0.87% -0.37% 0.92% 0.41% 1.30% 0.23% -2.13% Ratio
This stock is under the TSX Financial Index.
Jan 29, 2012.  Last Estimates I got were for 2010 and 2011 of $2.42 and $2.85 for EPS.
May 25, 2010.  When I last looked at this stock, I got estimates for 2009 and 2010 of $2.70 and $3.10.
May 20, 2009.  I last looked at this stock in Feb 2009.
May 09, 2009 AR 2008.  The last time I looked the earnings for Power was $2.80 for 2008 and $3.00 for 2009. Earnings came in at $1.80 for 2008.  2009 earning estimates are down since the 2008 annual report.
How they make their money
Power Corporation of Canada is a diversified international management and holding company with interests in companies in the financial services, communications and other business sectors in North America, Europe and Asia.
Some of it subsidiary companies include Power Financial, the Pargesa group and Gesca and Square Victoria Digital Properties.
Controlling shareholder of Power Corp of Canada is Paul Desmarais.  They have 30.1%, but have 64.6% voting control.
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.
Copyright © 2008 Website of SPBrunner. All rights reserved.
The Desmarais family is owner.
Institutions: 113.038
0.334 0.3%
112.704