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.
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.  https://spbrunner.com/stocks.html https://spbrunner.blogspot.com/ Q3 2023
Stantec Inc TSX: STN NYSE STN https://www.stantec.com/en Fiscal Yr: Dec 31 9/30/23
Year 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 12/31/19 12/31/20 12/31/21 12/31/22 12/31/23 12/30/24 12/30/25 Value Description #Y Item Total G
Accounting Rules C GAAP IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS Accounting Rules
Split Date 11/17/14 Split Date
Split 2 Split
Direct Costs $304.9 $326.5 $404.0 $454.6 $503.6 $1,201.8 $854.9 $928.6 $1,116.0 $1,045.6 $940.7 $1,220.0 $1,429.7 <-12 mths 273.65% <-Total Growth 10 Direct Costs
Change #DIV/0! 7.10% 23.74% 12.52% 10.77% 138.65% -28.86% 8.62% 20.18% -6.31% -10.03% 29.69% 17.19% <-12 mths 11.64% <-Median-> 10 Change
Ratio 0.18 0.17 0.18 0.18 0.18 0.28 0.17 0.22 0.23 0.22 0.21 0.21 0.22 <-12 mths 0.21 <-Median-> 10 Ratio
Payroll & Admin & Marketing $1,180.3 $1,334.0 $1,576.1 $1,783.1 $2,069.7 $2,757.2 $2,819.6 $2,978.2 $3,136.5 $3,106.9 $3,096.4 $3,782.4 $4,160.9 <-12 mths 183.53% <-Total Growth 10 Payrool & Admin & Marketing
Change #DIV/0! 13.02% 18.14% 13.13% 16.07% 33.22% 2.26% 5.62% 5.32% -0.94% -0.34% 22.15% 10.01% <-12 mths 9.38% <-Median-> 10 Change
Ratio 0.70 0.71 0.70 0.70 0.72 0.64 0.55 0.70 0.65 0.66 0.68 0.67 0.65 <-12 mths 0.67 <-Median-> 10 Ratio
Total $1,485.2 $1,660.5 $1,980.1 $2,237.7 $2,573.2 $3,958.9 $3,674.5 $3,906.8 $4,252.5 $4,152.5 $4,037.1 $5,002.4 $5,590.6 <-12 mths 201.25% <-Total Growth 10 Total
Change #DIV/0! 11.81% 19.24% 13.01% 15.00% 53.85% -7.18% 6.32% 8.85% -2.35% -2.78% 23.91% 11.76% <-12 mths 10.93% <-Median-> 10 Change
Ratio 0.88 0.88 0.89 0.88 0.89 0.92 0.71 0.91 0.88 0.88 0.88 0.88 0.88 <-12 mths 0.88 <-Median-> 10 Ratio
$4,954 <-12 mths 11.15%
Net Revenue $1,226.0 $1,378.5 $1,556.4 $1,832.4 $2,075.3 $2,373.7 $3,098.4 $3,417.3 $3,355.2 $3,711.3 $3,684.5 $3,636.1 $4,457.2 $5,050 $5,469 $5,743 186.38% <-Total Growth 10 Net Revenue
Increase -1.36% 12.44% 12.90% 17.73% 13.26% 14.38% 30.53% 10.29% -1.82% 10.61% -0.72% -1.31% 22.58% 13.30% 8.30% 5.01% 11.09% <-IRR #YR-> 10 Net Revenue 186.38%
5 year Running Average $1,027.6 $1,161.7 $1,306.8 $1,447.3 $1,613.7 $1,843.3 $2,187.2 $2,559.4 $2,864.0 $3,191.2 $3,453.3 $3,560.9 $3,768.9 $4,107.8 $4,459.4 $4,871.1 5.46% <-IRR #YR-> 5 Net Revenue 30.43%
Revenue per Share $13.39 $15.14 $17.01 $19.67 $22.12 $25.14 $27.16 $29.98 $29.99 $33.37 $33.19 $32.66 $40.22 $45.51 $49.29 $51.76 11.17% <-IRR #YR-> 10 5 yr Running Average 188.40%
Increase -1.47% 13.04% 12.34% 15.65% 12.43% 13.65% 8.05% 10.38% 0.05% 11.26% -0.54% -1.60% 23.16% 13.15% 8.30% 5.01% 8.05% <-IRR #YR-> 5 5 yr Running Average 47.26%
5 year Running Average $11.27 $12.73 $14.31 $15.76 $17.47 $19.81 $22.22 $24.81 $26.88 $29.13 $30.74 $31.84 $33.89 $36.99 $40.18 $43.89 8.99% <-IRR #YR-> 10 Net Revenue per Share 136.49%
P/S (Price/Sales) Med 0.99 0.86 0.99 1.41 1.30 1.33 1.19 1.12 1.10 0.97 1.14 1.74 1.53 1.78 0.00 0.00 6.06% <-IRR #YR-> 5 Net Revenue per Share 34.18%
P/S (Price/Sales) Close 1.04 0.91 1.17 1.67 1.44 1.37 1.25 1.17 1.00 1.10 1.24 2.18 1.61 2.23 2.06 1.96 9.00% <-IRR #YR-> 10 5 yr Running Average 136.75%
*Net Revenue in M CDN $  P/S Med 20 yr  1.13 15 yr  1.12 10 yr  1.24 5 yr  1.14 79.21% Diff M/C 6.43% <-IRR #YR-> 5 5 yr Running Average 36.58%
$6,384 <-12 mths 12.45%
Revenue* $1,513.1 $1,683.4 $1,882.9 $2,236.4 $2,529.9 $2,877.2 $4,300.1 $5,140.1 $4,283.8 $4,827.3 $4,730.1 $4,576.8 $5,677.2 201.51% <-Total Growth 10 Revenue
Increase -0.45% 11.26% 11.85% 18.77% 13.12% 13.73% 49.45% 19.53% -16.66% 12.69% -2.01% -3.24% 24.04% 11.67% <-IRR #YR-> 10 Revenue 201.51%
5 year Running Average $1,231.1 $1,404.6 $1,590.2 $1,767.1 $1,969.1 $2,242.0 $2,765.3 $3,416.8 $3,826.2 $4,285.7 $4,656.3 $4,711.6 $4,819.0 2.01% <-IRR #YR-> 5 Revenue 10.45%
Revenue per Share $16.53 $18.49 $20.58 $24.01 $26.96 $30.47 $37.69 $45.09 $38.30 $43.41 $42.61 $41.11 $51.23 11.72% <-IRR #YR-> 10 5 yr Running Average 203.04%
Increase -0.56% 11.86% 11.29% 16.67% 12.30% 13.01% 23.72% 19.63% -15.07% 13.34% -1.83% -3.53% 24.63% 7.12% <-IRR #YR-> 5 5 yr Running Average 41.04%
5 year Running Average $13.50 $15.39 $17.42 $19.25 $21.31 $24.10 $27.94 $32.84 $35.70 $38.99 $41.42 $42.10 $43.33 9.55% <-IRR #YR-> 10 Revenue per Share 148.98%
P/S (Price/Sales) Med 0.80 0.70 0.82 1.16 1.07 1.10 0.85 0.74 0.86 0.75 0.89 1.38 1.20 2.59% <-IRR #YR-> 5 Revenue per Share 13.62%
P/S (Price/Sales) Close 0.84 0.75 0.97 1.37 1.18 1.13 0.90 0.78 0.78 0.85 0.97 1.73 1.27 9.54% <-IRR #YR-> 10 5 yr Running Average 148.77%
*Revenue in M CDN $  P/S Med 20 yr  0.91 15 yr  0.86 10 yr  0.98 5 yr  0.89 -100.00% Diff M/C 5.70% <-IRR #YR-> 5 5 yr Running Average 31.93%
-$1,883 $0 $0 $0 $0 $0 $0 $0 $0 $0 $5,677
-$5,140 $0 $0 $0 $0 $5,677
-$1,590 $0 $0 $0 $0 $0 $0 $0 $0 $0 $4,819
-$3,417 $0 $0 $0 $0 $4,819
-$20.58 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $51.23
-$45.09 $0.00 $0.00 $0.00 $0.00 $51.23
$408.1 <-12 mths 17.57%
$3.69 <-12 mths 17.89%
Adjusted Net Income CDN$ $93.6 $12.7 $120.9 $146.2 $174.8 $173.9 $159.5 $196.7 $206.6 $225.0 $248.9 $269.9 $347.1 187.09% <-Total Growth 10 Adjusted Net Income 
Basic Calc. $1.03 $0.14 $1.32 $1.32 $1.87 $1.85 $1.49 $1.73 $1.82 $2.02 $2.23 $2.43 $3.13 137.03% <-Total Growth 10 AEPS
AEPS* Dilued $1.02 $0.14 $1.32 $1.57 $1.85 $1.84 $1.49 $1.72 $1.82 $2.02 $2.22 $2.42 $3.13 $3.72 $4.28 $4.85 137.12% <-Total Growth 10 AEPS
Increase 67.21% -86.27% 842.86% 18.94% 17.83% -0.54% -19.02% 15.44% 5.81% 10.99% 9.90% 9.01% 29.34% 18.85% 15.05% 13.32% 10 0 10 Years of Data, EPS P or N 100.00%
5 year Running Average $0.67 $0.57 $0.68 $0.93 $1.18 $1.34 $1.61 $1.69 $1.74 $1.78 $1.85 $2.04 $2.32 $2.70 $3.15 $3.68 9.02% <-IRR #YR-> 10 AEPS 137.12%
AEPS Yield 7.36% 1.02% 6.64% 4.77% 5.79% 5.36% 4.39% 4.89% 6.08% 5.50% 5.38% 3.41% 4.82% 3.67% 4.22% 4.79% 12.72% <-IRR #YR-> 5 AEPS 81.98%
Payout Ratio 0.00% 0.00% 22.73% 20.54% 19.46% 22.15% 29.70% 28.34% 28.85% 28.34% 27.48% 26.86% 22.52% 20.56% 18.22% 16.08% 13.05% <-IRR #YR-> 10 5 yr Running Average 240.97%
5 year Running Average 4.55% 8.65% 12.55% 16.97% 22.91% 24.04% 25.70% 27.48% 28.54% 27.97% 26.81% 25.15% 23.13% 20.85% 6.51% <-IRR #YR-> 5 5 yr Running Average 37.07%
Price/AEPS Median 12.94 92.71 12.78 17.66 15.52 18.18 21.62 19.52 18.16 16.07 16.99 23.44 19.67 21.76 0.00 0.00 18.17 <-Median-> 10 Price/AEPS Median
Price/AEPS High 14.69 107.93 15.52 22.95 20.55 20.52 24.30 21.59 20.14 18.38 19.85 29.92 22.26 26.05 0.00 0.00 21.07 <-Median-> 10 Price/AEPS High
Price/AEPS Low 11.20 77.50 10.04 12.38 10.50 15.84 18.94 17.45 16.18 13.77 14.14 16.95 17.09 17.48 0.00 0.00 16.01 <-Median-> 10 Price/AEPS Low
Price/AEPS Close 13.59 98.46 15.06 20.97 17.26 18.65 22.77 20.45 16.43 18.17 18.60 29.37 20.73 27.24 23.68 20.89 19.55 <-Median-> 10 Price/AEPS Close
Trailing P/AEPS Close 22.73 13.51 141.96 24.95 20.34 18.55 18.43 23.61 17.39 20.16 20.44 32.01 26.81 32.37 27.24 23.68 20.39 <-Median-> 10 Trailing P/AEPS Close
Median Values DPR 10 Yrs 27.17% 5 Yrs   27.48% P/CF 5 Yrs   in order 18.16 20.14 16.18 18.60 50.00% Diff M/C DPR 75% to 95% best
$2.97 <-12 mths 33.78%
EPS Basic $1.03 $0.14 $1.32 $1.32 $1.76 $1.66 $1.22 $0.85 $0.42 $1.74 $1.53 $1.80 $2.23 68.94% <-Total Growth 10 EPS Basic
EPS Diluted $1.02 $0.14 $1.32 $1.57 $1.74 $1.65 $1.22 $0.85 $0.42 $1.74 $1.53 $1.80 $2.22 $3.15 $4.14 $4.68 68.18% <-Total Growth 10 EPS Diluted
Increase 67.21% -86.27% 842.86% 18.94% 10.83% -5.17% -26.06% -30.33% -50.59% 314.29% -12.07% 17.65% 23.33% 41.89% 31.43% 13.04% 10 0 10 Years of Data, EPS P or N 100.00%
Earnings Yield 7.4% 1.0% 6.6% 4.8% 5.4% 4.8% 3.6% 2.4% 1.4% 4.7% 3.7% 2.5% 3.4% 3.1% 4.1% 4.6% 5.34% <-IRR #YR-> 10 Earnings per Share 68.18%
5 year Running Average $0.67 $0.57 $0.68 $0.93 $1.16 $1.28 $1.50 $1.41 $1.18 $1.18 $1.15 $1.27 $1.54 $2.09 $2.57 $3.20 21.17% <-IRR #YR-> 5 Earnings per Share 161.18%
10 year Running Average $0.51 $0.50 $0.60 $0.73 $0.86 $0.98 $1.03 $1.04 $1.05 $1.17 $1.22 $1.38 $1.47 $1.63 $1.87 $2.18 8.52% <-IRR #YR-> 10 5 yr Running Average 126.43%
* ESP per share (Cdn GAAP) E/P 10 Yrs 3.65% 5Yrs 3.42% 1.86% <-IRR #YR-> 5 5 yr Running Average 9.67%
-$1.32 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.22
-$0.85 $0.00 $0.00 $0.00 $0.00 $2.22
-$0.68 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.54
-$1.41 $0.00 $0.00 $0.00 $0.00 $1.54
Dividend* $0.77 $0.84 $0.88 Estimates Dividend*
Increase 9.22% 9.09% 4.76% Estimates Increase
Payout Ratio EPS 24.44% 20.29% 18.80% Estimates Payout Ratio EPS
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 <-Median-> 10 Special Dividends
Comments Div--> $0.45 Comments
pre split '14 $0.60 $0.65
Dividend* $0.30 $0.32 $0.36 $0.41 $0.44 $0.49 $0.53 $0.57 $0.61 $0.65 $0.71 $0.77 $0.78 $0.78 135.00% <-Total Growth 10 Dividends
Increase 7.50% 11.63% 13.19% 8.59% 10.17% 7.69% 9.05% 6.55% 6.56% 8.46% 8.51% 1.96% 0.00% 10 0 10 Years of data, Count P, N 100.00%
Average Increases 5 Year Running 10.22% 10.25% 9.74% 8.41% 8.00% 7.66% 7.83% 6.41% 5.10% 9.07% <-Median-> 6 Average Incr 5 Year Running
Dividends 5 Yr Running $0.62 $0.53 $0.44 $0.49 $0.53 $0.57 $0.61 $0.66 $0.70 $0.74 14.92% <-Total Growth 6 Dividends 5 Yr Running
Yield H/L Price 1.78% 1.16% 1.25% 1.22% 1.37% 1.45% 1.59% 1.76% 1.62% 1.15% 1.14% 0.94% 1.31% <-Median-> 10 Yield H/L Price Item
Yield on High  Price 1.46% 0.90% 0.95% 1.08% 1.22% 1.31% 1.43% 1.54% 1.38% 0.90% 1.01% 0.79% 1.15% <-Median-> 10 Yield on High  Price EPS
Yield on Low Price 2.26% 1.66% 1.85% 1.40% 1.57% 1.62% 1.78% 2.06% 1.94% 1.58% 1.32% 1.18% 1.64% <-Median-> 10 Yield on Low Price AEPS
Yield on Close Price 1.51% 0.98% 1.13% 1.19% 1.30% 1.39% 1.76% 1.56% 1.48% 0.91% 1.09% 0.75% 0.77% 0.77% 1.25% <-Median-> 10 Yield on Close Price CFPS
Payout Ratio EPS 22.73% 20.54% 20.69% 24.70% 36.27% 57.35% 125.00% 32.90% 39.87% 36.11% 31.76% 24.29% 18.84% 16.67% 34.51% <-Median-> 10 DPR EPS FCF 
DPR EPS 5 Yr Running 41.03% 37.91% 37.80% 41.41% 45.79% 44.87% 39.72% 31.63% 27.34% 23.01% 41.03% <-Median-> 7 DPR EPS 5 Yr Running
Payout Ratio CFPS 15.21% 11.04% 16.30% 18.72% 17.67% 21.07% 34.02% 14.07% 11.21% 18.23% 25.70% 12.36% 12.54% #DIV/0! 17.95% <-Median-> 10 DPR CF
DPR CF 5 Yr Running 26.12% 21.98% 20.68% 19.32% 16.62% 16.80% 17.64% 15.01% 14.53% #DIV/0! 19.32% <-Median-> 7 DPR CF 5 Yr Running
Payout Ratio CFPS WC 2.22% 2.00% 2.06% 2.06% 2.04% 2.02% 2.28% 2.05% 12.99% 13.83% 14.00% 12.36% 12.54% #DIV/0! 2.06% <-Median-> 10 DPR CF WC
DPR CF WC 5 Yr Running 3.47% 2.69% 2.09% 2.09% 2.60% 3.37% 4.68% 6.80% 13.08% #DIV/0! 2.69% <-Median-> 7 DPR CF WC 5 Yr Running
Median Values 10 Yr Med 10 Yr Cl 1.31% 1.25% 5 Yr Med 5 Yr Cl 1.59% 1.48% 5 Yr Med Payout 36.11% 18.23% 12.99% 7.66% <-IRR #YR-> 5 Dividends 44.62%
* Dividends per share  10 Yr Med and Cur. -41.40% -38.22% 5 Yr Med and Cur. -51.54% -47.90% Last Div Inc ---> $0.1800 $0.1950 8.33% 8.92% <-IRR #YR-> 10 Dividends 135.00%
Dividends Growth 5 -$0.44 -$0.49 $0.00 $0.00 $0.00 $0.00 $0.71 Dividends Growth 5
Dividends Growth 10 -$0.30 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.71 Dividends Growth 10
Historical Dividends Historical High Div 2.22% Low Div 0.90% 10 Yr High 2.05% 10 Yr Low 0.90% Med Div 1.37% Close Div 1.30% Historical Dividends
High/Ave/Median Values Curr diff Exp. -65.33% Exp -14.47% Exp. -62.45% -14.47% Exp. -43.81% Exp. -40.99% High/Ave/Median 
Future Dividend Yield Div Yield 1.11% earning in 5 Years at IRR of 7.66% Div Inc. 44.62% Future Dividend Yield
Future Dividend Yield Div Yield 1.61% earning in 10 Years at IRR of 7.66% Div Inc. 109.14% Future Dividend Yield
Future Dividend Yield Div Yield 2.33% earning in 15 Years at IRR of 7.66% Div Inc. 202.44% Future Dividend Yield
Future Dividend Yield Div Yield 3.37% earning in 20 Years at IRR of 7.66% Div Inc. 337.38% Future Dividend Yield
Future Dividend Yield Div Yield 4.87% earning in 25 Years at IRR of 7.66% Div Inc. 532.52% Future Dividend Yield
Future Dividend Paid Div Paid $1.13 earning in 5 Years at IRR of 7.66% Div Inc. 44.62% Future Dividend Paid
Future Dividend Paid Div Paid $1.63 earning in 10 Years at IRR of 7.66% Div Inc. 109.14% Future Dividend Paid
Future Dividend Paid Div Paid $2.36 earning in 15 Years at IRR of 7.66% Div Inc. 202.44% Future Dividend Paid
Dividend Covering Cost Total Div $4.54 over 5 Years at IRR of 7.66% Div Cov. 4.49% Dividend Covering Cost
Dividend Covering Cost Total Div $9.99 over 10 Years at IRR of 7.66% Div Cov. 9.86% Dividend Covering Cost
Dividend Covering Cost Total Div $17.86 over 15 Years at IRR of 7.66% Div Cov. 17.63% Dividend Covering Cost
Yield if held 5 years 1.91% 2.31% 2.89% 3.09% 3.41% 2.89% 1.89% 1.99% 1.82% 2.02% 2.10% 2.31% 2.40% 2.07% 2.21% <-Median-> 10 Paid Median Price Years 
Yield if held 10 years 7.19% 6.79% 5.45% 5.02% 4.03% 3.10% 3.77% 4.60% 4.62% 5.01% 4.18% 2.76% 2.72% 2.33% 4.61% <-Median-> 10 Paid Median Price 5
Yield if held 15 years 25.88% 21.28% 27.17% 24.60% 16.47% 11.68% 11.06% 8.67% 7.52% 5.93% 4.48% 5.49% 6.27% 5.91% 11.37% <-Median-> 10 Paid Median Price 10
Yield if held 20 years 33.88% 52.37% 60.00% 42.05% 34.64% 43.21% 36.83% 24.19% 16.90% 16.11% 11.81% 9.62% 36.83% <-Median-> 9 Paid Median Price 15
Yield if held 25 years 53.88% 78.39% 88.14% 60.81% 50.47% 58.87% 47.09% 69.60% <-Median-> 4 Paid Median Price 20
25
Cost covered if held 5 years 1.91% 4.47% 7.89% 10.53% 14.12% 11.98% 8.01% 8.48% 7.88% 8.83% 9.12% 9.99% 10.81% 9.76% 8.65% <-Median-> 10 Paid Median Price
Cost covered if held 10 years 7.19% 13.11% 14.88% 17.14% 16.70% 14.73% 20.41% 27.46% 30.51% 36.04% 30.13% 19.92% 20.70% 18.89% 18.78% <-Median-> 10 Paid Median Price
Cost covered if held 15 years 25.88% 41.07% 74.15% 83.92% 68.19% 55.60% 59.93% 51.74% 49.66% 42.64% 34.18% 44.11% 55.66% 58.38% 53.67% <-Median-> 10 Paid Median Price
Cost covered if held 20 years 92.47% 178.63% 248.47% 200.11% 187.71% 257.92% 243.17% 174.05% 129.00% 129.49% 104.88% 95.04% 187.71% <-Median-> 9 Paid Median Price
Cost covered if held 25 years 321.65% 517.59% 634.24% 464.26% 405.61% 522.83% 465.36% 490.92% <-Median-> 4 Paid Median Price
Yr  Item Tot. Growth
Revenue Growth  $3,417.3 $3,355.2 $3,711.3 $3,684.5 $3,636.1 $4,457.2 $6,384.1 <-12 mths 43.23% 30.43% <-Total Growth 5 Revenue Growth  30.43%
EPS Growth $0.85 $0.42 $1.74 $1.53 $1.80 $2.22 $2.97 <-12 mths 33.78% 161.18% <-Total Growth 5 EPS Growth 161.18%
Net Income Growth $97.00 $47.40 $194.40 $171.10 $200.70 $247.00 $330.3 <-12 mths 33.72% 154.64% <-Total Growth 5 Net Income Growth 154.64%
Cash Flow Growth $263.7 $172.6 $452.5 $603.8 $397.0 $304.0 $490.4 <-12 mths 61.32% 15.28% <-Total Growth 5 Cash Flow Growth 15.28%
Dividend Growth $0.49 $0.53 $0.57 $0.61 $0.65 $0.71 $0.77 <-12 mths 8.51% 44.62% <-Total Growth 5 Dividend Growth 44.62%
Stock Price Growth $35.18 $29.91 $36.70 $41.29 $71.07 $64.88 $101.33 <-12 mths 56.18% 84.42% <-Total Growth 5 Stock Price Growth 84.42%
Revenue Growth  $1,556.4 $1,832.4 $2,075.3 $2,373.7 $3,098.4 $3,417.3 $3,355.2 $3,711.3 $3,684.5 $3,636.1 $4,457.2 $6,384.1 <-12 mths 43.23% 186.38% <-Total Growth 10 Revenue Growth  186.38%
EPS Growth $1.32 $1.57 $1.74 $1.65 $1.22 $0.85 $0.42 $1.74 $1.53 $1.80 $2.22 $2.97 <-12 mths 33.78% 68.18% <-Total Growth 10 EPS Growth 68.18%
Net Income Growth $120.90 $146.20 $164.50 $156.38 $130.55 $97.00 $47.40 $194.40 $171.10 $200.70 $247.00 $330.3 <-12 mths 33.72% 104.30% <-Total Growth 10 Net Income Growth 104.30%
Cash Flow Growth $180.54 $272.13 $207.22 $205.52 $285.69 $263.70 $172.60 $452.50 $603.80 $397.00 $304.00 $490.4 <-12 mths 61.32% 68.39% <-Total Growth 10 Cash Flow Growth 68.39%
Dividend Growth $0.30 $0.32 $0.36 $0.41 $0.44 $0.49 $0.53 $0.57 $0.61 $0.65 $0.71 $0.8 <-12 mths 8.51% 135.00% <-Total Growth 10 Dividend Growth 135.00%
Stock Price Growth $19.88 $32.93 $31.93 $34.32 $33.92 $35.18 $29.91 $36.70 $41.29 $71.07 $64.88 $101.33 <-12 mths 56.18% 226.44% <-Total Growth 10 Stock Price Growth 226.44%
Dividends on Shares $16.45 $18.36 $20.78 $22.57 $24.86 $26.78 $29.20 $31.11 $33.15 $35.96 $39.02 $39.78 $39.78 $259.21 No of Years 10 Total Dividends 12/31/12
Paid  $1,013.63 $1,679.43 $1,628.43 $1,750.32 $1,729.92 $1,794.18 $1,525.41 $1,871.70 $2,105.79 $3,624.57 $3,308.88 $5,167.83 $5,167.83 $5,167.83 $3,308.88 No of Years 10 Worth $19.88
Total $3,568.09
Graham No. AEPS $12.52 $4.66 $15.36 $18.40 $21.95 $24.09 $24.10 $25.37 $26.42 $27.69 $29.46 $31.29 $38.12 $43.11 $46.24 $49.22 148.13% <-Total Growth 10 Graham Price AEPS
Price/GP Ratio Med 1.05 2.79 1.10 1.51 1.31 1.39 1.34 1.32 1.25 1.17 1.28 1.81 1.62 1.88 1.33 <-Median-> 10 Price/GP Ratio
Price/GP Ratio High 1.20 3.24 1.33 1.96 1.73 1.57 1.50 1.46 1.39 1.34 1.50 2.31 1.83 2.25 1.54 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Low 0.91 2.33 0.86 1.06 0.89 1.21 1.17 1.18 1.11 1.00 1.07 1.31 1.40 1.51 1.14 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Close 1.11 2.96 1.29 1.79 1.45 1.42 1.41 1.39 1.13 1.33 1.40 2.27 1.70 2.35 2.19 2.06 1.42 <-Median-> 10 Price/GP Ratio
Prem/Disc Close 10.72% 195.96% 29.38% 78.98% 45.46% 42.49% 40.77% 38.65% 13.20% 32.56% 40.16% 127.14% 70.21% 135.07% 119.16% 105.88% 41.63% <-Median-> 10 Graham Price
Graham No. EPS $12.52 $4.66 $15.36 $18.40 $21.29 $22.81 $21.80 $17.84 $12.69 $25.69 $24.46 $26.98 $32.10 $39.67 $45.47 $48.35 108.97% <-Total Growth 10 Graham Price EPS
Price/GP Ratio Med 1.05 2.79 1.10 1.51 1.35 1.47 1.48 1.88 2.60 1.26 1.54 2.10 1.92 2.04 1.52 <-Median-> 10 Price/GP Ratio
Price/GP Ratio High 1.20 3.24 1.33 1.96 1.79 1.66 1.66 2.08 2.89 1.44 1.80 2.68 2.17 2.44 1.88 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Low 0.91 2.33 0.86 1.06 0.91 1.28 1.29 1.68 2.32 1.08 1.28 1.52 1.67 1.64 1.29 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Close 1.11 2.96 1.29 1.79 1.50 1.50 1.56 1.97 2.36 1.43 1.69 2.63 2.02 2.55 2.23 2.10 1.74 <-Median-> 10 Price/GP Ratio
Prem/Disc Close 10.72% 195.96% 29.38% 78.98% 49.99% 50.47% 55.57% 97.23% 135.65% 42.83% 68.84% 163.37% 102.11% 155.46% 122.83% 109.58% 73.91% <-Median-> 10 Graham Price
pre split '02
pre split '06
pre split '14 $27.73 $27.57 $39.75
Price Close $13.87 $13.79 $19.88 $32.93 $31.93 $34.32 $33.92 $35.18 $29.91 $36.70 $41.29 $71.07 $64.88 $101.33 $101.33 $101.33 226.44% <-Total Growth 10 Stock Price
Increase -8.78% -0.58% 44.18% 65.69% -3.04% 7.49% -1.17% 3.71% -14.98% 22.70% 12.51% 72.12% -8.71% 56.18% 0.00% 0.00% 23.89 <-Median-> 10 CAPE (10 Yr P/E)
P/E Ratio 13.59 98.46 15.06 20.97 18.35 20.80 27.80 41.39 71.21 21.09 26.99 39.48 29.23 32.17 24.48 21.65 13.02% <-IRR #YR-> 5 Stock Price 84.42%
Trailing P/E Ratio 22.73 13.51 141.96 24.95 20.34 19.72 20.56 28.84 35.19 87.38 23.73 46.45 36.04 45.64 32.17 24.48 12.56% <-IRR #YR-> 10 Stock Price 226.44%
CAPE (10 Yr P/E) 20.79 23.25 21.85 21.89 21.41 21.38 22.29 23.58 24.75 24.20 25.44 26.53 27.96 29.44 29.38 28.37 14.38% <-IRR #YR-> 5 Price & Dividend 94.51%
Median 10, 5 Yrs D.  per yr 1.47% 1.36% % Tot Ret 10.48% 9.46% T P/E 26.89 36.04 P/E:  27.40 29.23 14.03% <-IRR #YR-> 10 Price & Dividend 253.52%
Price 15 D.  per yr 0.85% % Tot Ret 9.22% CAPE Diff 34.65% 8.36% <-IRR #YR-> 15 Stock Price 233.66%
Price  20 D.  per yr 0.90% % Tot Ret 5.72% 14.86% <-IRR #YR-> 20 Stock Price 1497.05%
Price  25 D.  per yr 0.79% % Tot Ret 4.53% 16.56% <-IRR #YR-> 25 Stock Price 4513.69%
Price  30 D.  per yr 0.56% % Tot Ret 4.67% 11.34% <-IRR #YR-> 28 Stock Price
Price & Dividend 15 9.21% <-IRR #YR-> 15 Price & Dividend 261.34%
Price & Dividend 20 15.76% <-IRR #YR-> 20 Price & Dividend 1629.54%
Price & Dividend 25 17.35% <-IRR #YR-> 25 Price & Dividend 48.96444
Price & Dividend 30 11.90% <-IRR #YR-> 28 Price & Dividend
Price  5 -$35.18 $0.00 $0.00 $0.00 $0.00 $64.88 Price  5
Price 10 -$19.88 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $64.88 Price 10
Price & Dividend 5 -$35.18 $0.53 $0.57 $0.61 $0.65 $65.59 Price & Dividend 5
Price & Dividend 10 -$19.88 $0.32 $0.36 $0.41 $0.44 $0.49 $0.53 $0.57 $0.61 $0.65 $65.59 Price & Dividend 10
Price 15 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $64.88 Price 15
Price  20 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $64.88 Price  20
Price  25 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $64.88 Price  25
Price  30 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $64.88 Price  30
Price & Dividend 15 $0.00 $0.00 $0.30 $0.32 $0.36 $0.41 $0.44 $0.49 $0.53 $0.57 $0.61 $0.65 $65.59 Price & Dividend 15
Price & Dividend 20 $0.00 $0.00 $0.30 $0.32 $0.36 $0.41 $0.44 $0.49 $0.53 $0.57 $0.61 $0.65 $65.59 Price & Dividend 20
Price & Dividend 25 $0.00 $0.00 $0.30 $0.32 $0.36 $0.41 $0.44 $0.49 $0.53 $0.57 $0.61 $0.65 $65.59 Price & Dividend 25
Price & Dividend 30 $0.00 $0.00 $0.30 $0.32 $0.36 $0.41 $0.44 $0.49 $0.53 $0.57 $0.61 $0.65 $65.59 Price & Dividend 30
Price H/L Median $13.20 $12.98 $16.87 $27.73 $28.72 $33.45 $32.22 $33.57 $33.05 $32.47 $37.72 $56.72 $61.58 $80.96 265.08% <-Total Growth 10 Stock Price
Increase 6.09% -1.69% 29.95% 64.40% 3.57% 16.47% -3.69% 4.21% -1.55% -1.77% 16.19% 50.36% 8.58% 31.47% 13.83% <-IRR #YR-> 10 Stock Price 265.08%
P/E Ratio 12.94 92.71 12.78 17.66 16.51 20.27 26.41 39.49 78.69 18.66 24.65 31.51 27.74 25.70 12.90% <-IRR #YR-> 5 Stock Price 83.44%
Trailing P/E Ratio 21.64 12.73 120.48 21.01 18.29 19.22 19.52 27.52 38.88 77.30 21.68 37.07 34.21 36.47 15.48% <-IRR #YR-> 10 Price & Dividend 296.99%
P/E on Run. 5 yr Ave 19.71 22.89 24.77 29.75 24.80 26.05 21.48 23.88 28.10 27.61 32.74 44.73 39.94 38.77 14.33% <-IRR #YR-> 5 Price & Dividend 94.01%
P/E on Run. 10 yr Ave 26.04 26.03 27.97 38.13 33.34 34.24 31.17 32.17 31.36 27.82 30.97 40.98 41.78 49.61 16.62 P/E Ratio Historical Median
Median 10, 5 Yrs D.  per yr 1.66% 1.43% % Tot Ret 10.70% 9.97% T P/E 24.60 37.07 P/E:  25.53 27.74 Count 28 Years of data
-$16.87 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $61.58
-$33.57 $0.00 $0.00 $0.00 $0.00 $61.58
-$16.87 $0.32 $0.36 $0.41 $0.44 $0.49 $0.53 $0.57 $0.61 $0.65 $62.29
-$33.57 $0.53 $0.57 $0.61 $0.65 $62.29
High Months Jan Apr Dec Dec Sep Jul Dec Oct Feb Dec Aug Dec Feb Nov
pre split '02
pre split '06
pre split '14 $29.96 $30.22 $40.97
Price High $14.98 $15.11 $20.49 $36.03 $38.01 $37.76 $36.21 $37.13 $36.65 $37.12 $44.06 $72.41 $69.67 $96.91 240.10% <-Total Growth 10 Stock Price
Increase -2.88% 0.87% 35.57% 75.88% 5.50% -0.66% -4.10% 2.54% -1.29% 1.28% 18.70% 64.34% -3.78% 39.10% 13.02% <-IRR #YR-> 10 Stock Price 240.10%
P/E Ratio 14.69 107.93 15.52 22.95 21.84 22.88 29.68 43.68 87.26 21.33 28.80 40.23 31.38 30.77 13.41% <-IRR #YR-> 5 Stock Price 87.64%
Trailing P/E Ratio 24.56 14.81 146.32 27.30 24.21 21.70 21.95 30.43 43.12 88.38 25.32 47.33 38.71 43.65 22.95 P/E Ratio Historical Median
Median 10, 5 Yrs T P/E 28.86 43.12 P/E:  29.24 31.38 31.38 P/E Ratio Historical High
-$20.49 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $69.67
-$37.13 $0.00 $0.00 $0.00 $0.00 $69.67
Low Months Jun Sep July Feb Feb Jan Jan May Dec Oct Mar Jan May Jan
pre split '02
pre split '06
pre split '14 $22.85 $21.70 $26.50
Price Low $11.43 $10.85 $13.25 $19.43 $19.43 $29.14 $28.22 $30.01 $29.45 $27.81 $31.38 $41.02 $53.49 $65.01 303.70% <-Total Growth 10 Stock Price
Increase 20.71% -5.03% 22.12% 46.64% 0.00% 49.97% -3.16% 6.34% -1.87% -5.57% 12.84% 30.72% 30.40% 21.54% 14.98% <-IRR #YR-> 10 Stock Price 303.70%
P/E Ratio 11.20 77.50 10.04 12.38 11.17 17.66 23.13 35.31 70.12 15.98 20.51 22.79 24.09 20.64 12.25% <-IRR #YR-> 5 Stock Price 78.24%
Trailing P/E Ratio 18.73 10.64 94.64 14.72 12.38 16.75 17.10 24.60 34.65 66.21 18.03 26.81 29.72 29.28 15.98 P/E Ratio Historical Median
Median 10, 5 Yrs T P/E 21.32 29.72 P/E:  21.65 22.79 8.25 P/E Ratio Historical Low
-$13.25 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $53.49
-$30.01 $0.00 $0.00 $0.00 $0.00 $53.49
$525 <-12 mths 75.59%
Free Cash Flow MS $83 $89 $149 $215 $161 $164 $220 $200 $38 $392 $570 $345 $299 $271 $422 $553 100.67% <-Total Growth 10 Free Cash Flow
Change 7.23% 67.42% 44.30% -25.12% 1.86% 34.15% -9.09% -81.00% 931.58% 45.41% -39.47% -13.33% -9.36% 55.72% 31.04% 8.37% <-IRR #YR-> 5 Free Cash Flow MS 49.50%
FCF/CF from Op Ratio 0.72 0.78 0.83 0.79 0.78 0.80 0.77 0.76 0.22 0.87 0.94 0.87 0.98 0.39 0.61 #DIV/0! 7.21% <-IRR #YR-> 10 Free Cash Flow MS 100.67%
Dividends paid $20.60 $29.78 $33.64 $38.33 $46.11 $55.50 $61.30 $64.0 $68.0 $72.3 $78.2 $84.88 $86.55 $86.55 279.59% <-Total Growth 10 Dividends paid
Percentage paid 23.37% 20.96% 27.75% 161.32% 16.33% 11.93% 20.96% 26.15% 31.32% 20.51% 15.65% $0.22 <-Median-> 8 Percentage paid
5 Year Covrage 26.16% 20.77% 20.78% 20.91% 19.57% 20.45% 21.61% 5 Year Covrage
Dividend Coverage Ratio 4.28 4.77 3.60 0.62 6.13 8.38 4.77 3.82 3.19 4.88 6.39 4.52 <-Median-> 8 Dividend Coverage Ratio
5 Year of Coverage 3.82 4.81 4.81 4.78 5.11 4.89 4.63 5 Year of Coverage
-$200 $0 $0 $0 $0 $299
-$149 $0 $0 $0 $0 $0 $0 $0 $0 $0 $299
$105 <-12 mths -53.08%
Free Cash Flow WSJ,  $166.99 $170.37 $228.22 $204.80 $47.80 $396 $573 $351 $236 $271 $422 $553 41.21% <-Total Growth 8 Free Cash Flow WSJ
Change 2.02% 33.96% -10.26% -76.66% 728.03% 44.67% -38.67% -32.86% 14.93% 55.72% 31.04% 2.86% <-IRR #YR-> 5 Free Cash Flow MS 15.14%
FCF/CF from Op Ratio 0.81 0.83 0.80 0.78 0.28 0.87 0.95 0.88 0.78 0.39 0.61 #DIV/0! 4.41% <-IRR #YR-> 8 Free Cash Flow MS #DIV/0!
Dividends paid $33.64 $38.33 $46.11 $55.50 $61.30 $64.0 $68.0 $72.3 $78.2 $84.88 $86.55 $86.55 132.45% <-Total Growth 8 Dividends paid
Percentage paid 20.15% 22.50% 20.21% 27.10% 128.24% 16.17% 11.88% 20.59% 33.16% 31.32% 20.51% 15.65% $0.21 <-Median-> 9 Percentage paid
5 Year Coverage 28.71% 25.33% 20.35% 20.42% 21.44% 20.12% 21.05% 22.28% 5 Year Coverage
Dividend Coverage Ratio 4.44 4.95 3.69 0.78 6.18 8.42 4.86 3.02 3.19 4.88 6.39
5 Year of Coverage 3.95 4.91 4.90 4.66 4.97 4.75 4.49
Market Cap $M $1,269 $1,255 $1,819 $3,068 $2,996 $3,241 $3,870 $4,010 $3,346 $4,082 $4,583 $7,912 $7,189 $11,243 $11,243 $11,243 295.31% <-Total Growth 10 Market Cap
Diluted # of Shares in Million 91.782 91.350 91.594 93.166 94.328 94.594 107.326 114.353 113.822 111.550 111.949 111.617 111.070 111.151 21.26% <-Total Growth 10 Diluted
Change 0.15% -0.47% 0.27% 1.72% 1.25% 0.28% 13.46% 6.55% -0.46% -2.00% 0.36% -0.30% -0.49% 0.07% 0.32% <-Median-> 10 Change
Difference Diluted/Basic -0.4% -0.1% -0.1% -0.7% -0.8% -0.5% -0.3% -0.3% -0.1% 0.0% -0.4% -0.3% -0.1% -0.1% -0.33% <-Median-> 10 Difference Diluted/Basic
Basic # of Shares in Millions 91.381 91.277 91.504 92.510 93.540 94.143 107.006 113.992 113.733 111.550 111.554 111.243 110.936 110.991 21.24% <-Total Growth 10 Basic
Change 0.32% -0.11% 0.25% 1.10% 1.11% 0.64% 13.66% 6.53% -0.23% -1.92% 0.00% -0.28% -0.28% 0.05% 0.32% <-Median-> 10 Change
Difference Basic/Outstanding 0.2% -0.3% 0.0% 0.7% 0.3% 0.3% 6.6% 0.0% -1.6% -0.3% -0.5% 0.1% -0.1% 0.0% 0.04% <-Median-> 10 Difference Basic/Outstanding
$490.4 <-12 mths 61.32%
# of Share in Millions 91.537 91.047 91.504 93.152 93.836 94.436 114.081 113.992 111.860 111.213 111.005 111.333 110.809 110.959 110.959 110.959 1.93% <-IRR #YR-> 10 Shares 21.10%
Change 0.11% -0.53% 0.50% 1.80% 0.73% 0.64% 20.80% -0.08% -1.87% -0.58% -0.19% 0.30% -0.47% 0.13% 0.00% -0.56% <-IRR #YR-> 5 Shares -2.79%
CF fr Op $M $114.8 $114.6 $180.5 $272.1 $207.2 $205.5 $285.7 $263.7 $172.6 $452.5 $603.8 $397.0 $304.0 $686.8 $690.2 68.39% <-Total Growth 10 Cash Flow
Increase 14.81% -0.17% 57.56% 50.73% -23.85% -0.82% 39.01% -7.70% -34.55% 162.17% 33.44% -34.25% -23.43% 125.93% 0.48% S. Issue SO, Buy Backs
5 year Running Average $111.1 $115.4 $134.0 $156.4 $177.9 $196.0 $230.2 $246.9 $226.9 $276.0 $355.7 $377.9 $386.0 $488.8 $536.4 188.08% <-Total Growth 10 CF 5 Yr Running
CFPS $1.25 $1.26 $1.97 $2.92 $2.21 $2.18 $2.50 $2.31 $1.54 $4.07 $5.44 $3.57 $2.74 $6.19 $6.22 39.05% <-Total Growth 10 Cash Flow per Share
Increase 14.68% 0.36% 56.77% 48.06% -24.41% -1.45% 15.07% -7.62% -33.30% 163.69% 33.69% -34.44% -23.06% 125.63% 0.48% 5.35% <-IRR #YR-> 10 Cash Flow 68.39%
5 year Running Average $1.22 $1.26 $1.47 $1.70 $1.92 $2.11 $2.36 $2.42 $2.15 $2.52 $3.17 $3.39 $3.47 $4.40 $4.83 2.89% <-IRR #YR-> 5 Cash Flow 15.28%
P/CF on Med Price 10.53 10.31 8.55 9.49 13.01 15.37 12.86 14.51 21.42 7.98 6.93 15.90 22.45 13.08 0.00 3.35% <-IRR #YR-> 10 Cash Flow per Share 39.05%
P/CF on Closing Price 11.06 10.95 10.07 11.27 14.46 15.77 13.54 15.21 19.38 9.02 7.59 19.93 23.65 16.37 16.29 3.47% <-IRR #YR-> 5 Cash Flow per Share 18.59%
18.98% Diff M/C 8.99% <-IRR #YR-> 10 CFPS 5 yr Running 136.53%
$643.1 <-12 mths 15.25%
Excl.Working Capital CF $808.7 $931.7 $1,054.1 $1,233.6 $1,433.3 $1,662.2 $2,190.2 $2,482.0 $2,405.8 $2,652.1 -$82.5 $126.4 $254.0 $0.0 $0.0 7.45% <-IRR #YR-> 5 CFPS 5 yr Running 43.20%
CF fr Op $M WC $923.5 $1,046.3 $1,234.6 $1,505.7 $1,640.5 $1,867.7 $2,475.9 $2,745.7 $2,578.4 $3,104.6 $521.3 $523.4 $558.0 $686.8 $690.2 -54.80% <-Total Growth 10 Cash Flow less WC
Increase -1.95% 13.29% 18.00% 21.95% 8.95% 13.85% 32.56% 10.90% -6.09% 20.41% -83.21% 0.40% 6.61% 23.09% 0.48% -7.63% <-IRR #YR-> 10 Cash Flow less WC -54.80%
5 year Running Average $789.7 $888.8 $1,007.1 $1,130.4 $1,270.1 $1,459.0 $1,744.9 $2,047.1 $2,261.6 $2,554.5 $2,285.2 $1,894.7 $1,457.1 $1,078.8 $595.9 -27.29% <-IRR #YR-> 5 Cash Flow less WC -79.68%
CFPS Excl. WC $10.09 $11.49 $13.49 $16.16 $17.48 $19.78 $21.70 $24.09 $23.05 $27.92 $4.70 $4.70 $5.04 $6.19 $6.22 3.76% <-IRR #YR-> 10 CF less WC 5 Yr Run 44.68%
Increase -2.06% 13.90% 17.42% 19.80% 8.16% 13.13% 9.73% 10.99% -4.30% 21.11% -83.18% 0.11% 7.12% 22.92% 0.48% -6.57% <-IRR #YR-> 5 CF less WC 5 Yr Run -28.82%
5 year Running Average $8.66 $9.74 $11.03 $12.31 $13.74 $15.68 $17.72 $19.84 $21.22 $23.31 $20.29 $16.89 $13.08 $9.71 $5.37 -9.39% <-IRR #YR-> 10 CFPS - Less WC -62.68%
P/CF on Med Price 1.31 1.13 1.25 1.72 1.64 1.69 1.48 1.39 1.43 1.16 8.03 12.06 12.23 13.08 0.00 -26.88% <-IRR #YR-> 5 CFPS - Less WC -79.09%
P/CF on Closing Price 1.37 1.20 1.47 2.04 1.83 1.74 1.56 1.46 1.30 1.31 8.79 15.12 12.88 16.37 16.29 1.72% <-IRR #YR-> 10 CFPS 5 yr Running 18.57%
*Operational Cash Flow CF/CF-WC P/CF Med 10 yr 13.76 5 yr  15.90 P/CF Med 10 yr 1.67 5 yr  8.03 881.98% Diff M/C -8.00% <-IRR #YR-> 5 CFPS 5 yr Running -34.08%
-$2.31 $0.00 $0.00 $0.00 $0.00 $2.74 Cash Flow per Share
-$1.47 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.47 CFPS 5 yr Running
-$2.42 $0.00 $0.00 $0.00 $0.00 $3.47 CFPS 5 yr Running
-$1,234.6 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $558.0 Cash Flow less WC
-$2,745.7 $0.0 $0.0 $0.0 $0.0 $558.0 Cash Flow less WC
-$1,007.1 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $1,457.1 CF less WC 5 Yr Run
-$2,047.1 $0.0 $0.0 $0.0 $0.0 $1,457.1 CF less WC 5 Yr Run
-$13.49 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $5.04 CFPS - Less WC
-$24.09 $0.00 $0.00 $0.00 $0.00 $5.04 CFPS - Less WC
-$11.03 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $13.08 CFPS 5 yr Running
-$19.84 $0.00 $0.00 $0.00 $0.00 $13.08 CFPS 5 yr Running
Interest received $3.1 $2.0 $1.9 $1.8 $2.42 $2.38 $4.72 $3.20 $3.9
Interest paid -$30.50 -$51.9
Finance Costs paid -$5.7 -$4.9
Income Taxes Paid
Income taxes recovered $9.5 $9.8 $7.2 $12.4 $12.2 -$77.9
Cash Rceived from clients
Cash paid to Suppliers
Cash paid to employees -$821.4 -$943.4 -$1,063.3 -$1,247.7 -$1,438.42 -$1,664.56 -$2,194.88 -$2,485.20 -$2,375.30 -$2,658.6 -$2,715.7
Trade and other Rec $103.3 -$8.4 -$211.7
Unbilled Rec $32.4 -$46.4 -$134.9
Contract Assets $0.8 -$3.5 -$13.7
Prepaid expenses $4.3 $1.9 -$2.8
Income Taxes -$16.9 -$39.1 $21.1
Trade and other Payables -$42.5 -$65.8 $22.8
Deferred Revenue $1.1 $34.9 $65.2
                         
Sum -$808.727 -$931.686 -$1,054.107 -$1,233.562 -$1,435.995 -$1,662.19 -$2,190.17 -$2,482.00 -$2,405.80 -$2,652.10 $82.50 -$126.40 -$254.00
Google -->Morningstar-->TD -$931.69 -$1,052.91 -$1,233.56 -$1,435.99 -$1,662.19 -$2,190.17 -$2,482 -$2,405 -$2,652 -$2,847 -$126 -$254
Difference $0.00 -$1.20 $0.00 $0.00 $0.00 $0.00 $0 -$1 $0 $2,929 $0 $0
-$1,246 -$1,436 -$1,662 -$2,190 $264 $205 $450 $603
$12 $0 $0 $0 -$2,746 -$2,611 -$3,102 -$521 -$126
2022 2022 2022 2022 2022
OPM 9.36% 8.31% 11.60% 14.85% 9.99% 8.66% 9.22% 7.72% 5.14% 12.19% 16.39% 10.92% 6.82% 13.60% -41.20% <-Total Growth 10 OPM
Increase 16.39% -11.22% 39.55% 28.03% -32.77% -13.29% 6.50% -16.31% -33.34% 137.01% 34.41% -33.37% -37.53% 99.41% Should increase  or be stable.
Difference -2.5% -13.4% 20.8% 54.7% 4.0% -9.8% -4.0% -19.6% -46.4% 27.0% 70.7% 13.7% -29.0% 41.6% 0.00 <-Median-> 10 OPM
*Operational Profit Margin (CF/Revenue) Ratio OPM 10 Yrs 9.60% 5 Yrs 10.92% should be  zero, it is a   check on calculations
$828 <-12 mths 14.39%
Adjusted EBITDA $225.0 $250.0 $295.6 $305.1 $352.3 $353.3 $392.5 $574.4 $578.9 $573.8 $723.9 $843 $937 $1,002 221.73% <-Total Growth 10 Adjusted EBITDA
Change 11.11% 18.24% 3.21% 15.47% 0.28% 11.10% 46.34% 0.78% -0.88% 26.16% 16.45% 11.15% 6.94% 11.10% <-Median-> 10 Change
Margin 16.32% 16.06% 16.13% 14.70% 14.84% 11.40% 11.49% 17.12% 15.60% 15.57% 19.91% 18.91% 18.55% 18.32% 15.59% <-Median-> 10 Margin
Long Term Debt $236.6 $256.4 $200.9 $256.1 $232.3 $928.6 $514.4 $885.2 $814.0 $634.2 $1,194.1 $1,183.6 $1,257.9 361.61% <-Total Growth 10 Debt Type
Change 8.37% -21.63% 27.45% -9.29% 299.72% -44.60% 72.08% -8.04% -22.09% 88.28% -0.88% 6.28% -4.46% <-Median-> 10 Change Lg Term R
Debt/Market Cap Ratio 0.19 0.14 0.07 0.09 0.07 0.24 0.13 0.26 0.20 0.14 0.15 0.16 0.11 0.14 <-Median-> 10 Debt/Market Cap Ratio Intang/GW
Assets/Current Liabilities Ratio 4.05 4.25 4.10 4.23 3.71 3.99 3.37 4.67 4.53 4.45 4.43 4.01 3.75 4.17 <-Median-> 10 Assets/Current Liab Ratio Liquidity
Current Liabilities/Asset Ratio 0.25 0.24 0.24 0.24 0.27 0.25 0.30 0.21 0.22 0.22 0.23 0.25 0.27 0.24 <-Median-> 10 Current Liab/Asset Ratio Liq. + CF
Debt to Cash Flow (Years) 2.06 1.42 0.74 1.24 1.13 3.25 1.95 5.13 1.80 1.05 3.01 3.89 1.83 1.87 <-Median-> 10 Debt to Cash Flow (Years) Debt Ratio
Leverage
Intangibles $72.0 $85.7 $78.9 $97.2 $138.1 $449.5 $262.4 $247.7 $219.6 $182.0 $373.3 $320.4 $291.2 273.65% <-Total Growth 10 Intangibles D/E Ratio
Goodwill $509.0 $566.8 $594.8 $760.6 $966.5 $1,828.1 $1,556.6 $1,621.2 $1,651.8 $1,673.8 $2,184.3 $2,346.4 $2,409.0 313.98% <-Total Growth 10 Goodwill
Total $581.1 $652.5 $673.7 $857.9 $1,104.6 $2,277.6 $1,819.0 $1,868.9 $1,871.4 $1,855.8 $2,557.6 $2,666.8 $2,700.2 308.68% <-Total Growth 10 Total
Change 12.30% 3.24% 27.34% 28.76% 106.20% -20.13% 2.74% 0.13% -0.83% 37.82% 4.27% 1.25% 3.76% <-Median-> 10 Change
Intangible/Market Cap Ratio 0.46 0.36 0.22 0.29 0.34 0.59 0.45 0.56 0.46 0.40 0.32 0.37 0.24 0.39 <-Median-> 10 Intangible/Market Cap Ratio
Current Assets $504.51 $529.15 $589.19 $726.23 $844.42 $951.39 $1,582.52 $1,608.2 $1,635.5 $1,580.1 $1,565.1 $1,664.4 $1,937.8 $2,251.2 Liquidity ratio of 1.5 and up, best
Current Liabilities $331.34 $327.52 $345.16 $406.98 $475.07 $632.05 $1,072.82 $1,153.3 $858.6 $1,006.3 $987.2 $1,179.4 $1,410.0 $1,622.3 1.54 <-Median-> 10 Ratio
Liquidity 1.52 1.62 1.71 1.78 1.78 1.51 1.48 1.39 1.90 1.57 1.59 1.41 1.37 1.39 1.57 <-Median-> 5 Ratio
Liq. with CF aft div 1.87 1.97 2.15 2.38 2.14 1.77 1.69 1.57 2.04 1.96 2.13 1.69 1.53 1.76 1.96 <-Median-> 5 Ratio
Liq. CF re  Inv+Div  1.46 1.51 1.52 1.85 1.57 1.26 0.82 1.57 1.56 1.72 1.93 1.02 1.46 1.76 1.56 <-Median-> 5 Ratio
Assets $1,323.5 $1,327.4 $1,468.6 $1,668.2 $2,010.5 $2,341.9 $4,284.7 $3,880.9 $4,009.9 $4,561.5 $4,388.9 $5,226.4 $5,652.9 $6,087.7 Debt Ratio of 1.5 and up, best
Liabilities $697.9 $700.2 $741.5 $775.5 $924.2 $1,018.6 $2,308.2 $1,981.6 $2,101.2 $2,684.4 $2,459.6 $3,224.2 $3,366.5 $3,624.5 1.88 <-Median-> 10 Ratio
Debt Ratio 1.90 1.90 1.98 2.15 2.18 2.30 1.86 1.96 1.91 1.70 1.78 1.62 1.68 1.68 1.70 <-Median-> 5 Ratio
Total Book Value $625.58 $627.15 $727.16 $892.63 $1,086.2 $1,323.3 $1,976.5 $1,899.3 $1,908.7 $1,877.1 $1,929.3 $2,002.2 $2,286.4 $2,463.2 214.43% <-Total Growth 10 Book Value
Non-Cont Int. $0.10 $0.10 $0.10 $0.00 $0.00 $0.00 $0.77 $3.00 $1.80 $1.60 $0.80 $0.50 $0.40 $0.00 63.60% <-Median-> 10 Ratio
Book Value $625.48 $627.05 $727.05 $892.63 $1,086.2 $1,323.3 $1,975.7 $1,896.3 $1,906.9 $1,875.5 $1,928.5 $2,001.7 $2,286.0 $2,463.2 $2,463.20 $2,463.20 214.42% <-Total Growth 10 Book Value
Book Value per Share $6.83 $6.89 $7.95 $9.58 $11.58 $14.01 $17.32 $16.64 $17.05 $16.86 $17.37 $17.98 $20.63 $22.20 $22.20 $22.20 159.64% <-Total Growth 10 Book Value per Share
Change 14.14% 0.79% 15.37% 20.60% 20.80% 21.05% 23.60% -3.94% 2.48% -1.07% 3.02% 3.49% 14.74% 7.61% 0.00% 0.00% 126.36% P/B Ratio Current/Historical Median
P/B Ratio (Median) 1.93 1.88 2.12 2.89 2.48 2.39 1.86 2.02 1.94 1.93 2.17 3.15 2.98 3.65 2.02 P/B Ratio Historical Median
P/B Ratio (Close) 2.03 2.00 2.50 3.44 2.76 2.45 1.96 2.11 1.75 2.18 2.38 3.95 3.14 4.56 4.56 4.56 10.01% <-IRR #YR-> 10 Book Value per Share 159.64%
Change -20.08% -1.36% 24.97% 37.38% -19.73% -11.20% -20.03% 7.97% -17.03% 24.03% 9.21% 66.32% -20.44% 45.14% 0.00% 0.00% 4.40% <-IRR #YR-> 5 Book Value per Share 24.01%
Leverage (A/BK) 2.12 2.12 2.02 1.87 1.85 1.77 2.17 2.04 2.10 2.43 2.27 2.61 2.47 2.47 2.13 <-Median-> 10 A/BV
Debt/Equity Ratio 1.12 1.12 1.02 0.87 0.85 0.77 1.17 1.04 1.10 1.43 1.27 1.61 1.47 1.47 1.13 <-Median-> 10 Debt/Equity Ratio
Sharerholders Equity (Assets less liabilities) P/BV 10 yr Med 2.28 5 yr Med 2.17 100.27% Diff M/C 2.03 Historical Leverage (A/BK)
-$7.95 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $20.63
-$16.64 $0.00 $0.00 $0.00 $0.00 $20.63
$349.90 <-12 mths -15.13%
Shareholders - Comprehensive Inc $78.04 $16.97 $114.49 $176.70 $213.00 $261.87 $132.21 $20.80 $161.90 $85.40 $141.80 $151.20 $412.30 260.11% <-Total Growth 10 Comprehensive Income
Increase 2462.73% -78.25% 574.67% 54.33% 20.55% 22.94% -49.51% -84.27% 678.37% -47.25% 66.04% 6.63% 172.69% 66.04% <-Median-> 5 Comprehensive Income
5 Yr Running Average $53.56 $44.77 $62.34 $77.85 $119.84 $156.61 $179.65 $160.92 $157.96 $132.43 $108.42 $112.22 $190.52 13.67% <-IRR #YR-> 10 Comprehensive Income 260.11%
ROE 12.5% 2.7% 15.7% 19.8% 19.6% 19.8% 6.7% 1.1% 8.5% 4.5% 7.3% 7.6% 18.0% 81.73% <-IRR #YR-> 5 Comprehensive Income 1882.21%
5Yr Median 12.5% 6.0% 12.5% 12.5% 15.7% 19.6% 19.6% 19.6% 8.5% 6.7% 6.7% 7.3% 7.6% 11.82% <-IRR #YR-> 10 5 Yr Running Average 18.40%
% Difference from NI -16.6% 34.0% -5.3% 20.9% 29.5% 67.5% 1.3% -78.6% 241.6% -56.1% -17.1% -24.7% 66.9% 3.44% <-IRR #YR-> 5 5 Yr Running Average 18.40%
Median Values Diff 5, 10 yr 11.1% -17.1% 7.6% <-Median-> 5 Return on Equity
-$114.5 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $412.3
-$20.8 $0.0 $0.0 $0.0 $0.0 $412.3
-$62.3 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $190.5
-$160.9 $0.0 $0.0 $0.0 $0.0 $190.5
Current Liability Coverage Ratio 2.79 3.19 3.58 3.70 3.45 2.95 2.31 2.38 3.00 3.09 0.53 0.44 0.40 0.42   CFO / Current Liabilities
5 year Median 2.96 2.96 3.19 3.32 3.45 3.45 3.45 2.95 2.95 2.95 2.38 2.38 0.53 0.44 0.53 <-Median-> 5 Current Liability Cov Ratio
Asset Efficiency Ratio 69.78% 78.82% 84.07% 90.26% 81.60% 79.75% 57.78% 70.75% 64.30% 68.06% 11.88% 10.01% 9.87% 11.28% CFO / Total Assets
5 year Median 79.05% 78.82% 78.82% 83.83% 81.60% 81.60% 81.60% 79.75% 70.75% 68.06% 64.30% 64.30% 11.88% 11.28% 11.9% <-Median-> 5 Return on Assets 
Return on Assets ROA 7.1% 1.0% 8.2% 8.8% 8.2% 6.7% 3.0% 2.5% 1.2% 4.3% 3.9% 3.8% 4.4% 6.1% Net  Income/Assets Return on Assets ROA
5Yr Median 7.1% 5.0% 5.0% 7.1% 8.2% 8.2% 8.2% 6.7% 3.0% 3.0% 3.0% 3.8% 3.9% 4.3% 3.9% <-Median-> 5 Asset Efficiency Ratio ROA
Return on Equity ROE 15.0% 2.0% 16.6% 16.4% 15.1% 11.8% 6.6% 5.1% 2.5% 10.4% 8.9% 10.0% 10.8% 15.1% Net Inc/ Shareholders' equity Return on Equity ROE
5Yr Median 14.6% 10.2% 10.2% 15.0% 15.1% 15.1% 15.1% 11.8% 6.6% 6.6% 6.6% 8.9% 10.0% 10.4% 10.0% <-Median-> 5 Return on Equity ROE
$330.3 <-12 mths 33.72%
Net Income $93.60 $12.66 $120.90 $146.20 $164.50 $156.38 $130.55 $97.0 $47.4 $194.4 $171.1 $200.7 $247.0 $373 $459 $519 104.30% <-Total Growth 10 Net Income
Increase 67.31% -86.47% 854.84% 20.93% 12.51% -4.94% -16.52% -25.70% -51.13% 310.13% -11.99% 17.30% 23.07% 51.01% 23.06% 13.07% EPS/CF Ratio should not be higher than 1.00
5 Yr Running Average $61.6 $52.1 $62.4 $85.9 $107.6 $120.1 $143.7 $138.9 $119.2 $125.1 $128.1 $142.1 $172.1 $237.2 $290.2 $359.7 7.41% <-IRR #YR-> 10 Net Income 104.30%
Operating Cash Flow $114.78 $114.59 $180.54 $272.13 $207.22 $205.52 $285.69 $263.70 $172.60 $452.50 $603.80 $397.00 $304.00 20.55% <-IRR #YR-> 5 Net Income 154.64%
Investment Cash Flow -$91.60 -$99.38 -$143.34 -$117.43 -$174.32 -$252.39 -$1,136.58 $60.30 -$266.10 -$135.20 -$102.0 -$764.8 -$73.8 10.67% <-IRR #YR-> 10 5 Yr Running Ave. 175.73%
Total Accruals $70.41 -$2.54 $83.71 -$8.50 $131.60 $203.25 $981.44 -$227.00 $140.90 -$122.90 -$330.70 $568.50 $16.80 4.38% <-IRR #YR-> 5 5 Yr Running Ave. 23.89%
Total Assets $1,323.5 $1,327.4 $1,468.6 $1,668.2 $2,010.5 $2,341.9 $4,284.7 $3,880.9 $4,009.9 $4,561.5 $4,388.9 $5,226.4 $5,652.9 Balance Sheet Assets
Accruals Ratio 5.32% -0.19% 5.70% -0.51% 6.55% 8.68% 22.91% -5.85% 3.51% -2.69% -7.53% 10.88% 0.30% 0.30% <-Median-> 5 Ratio
EPS/CF Ratio 0.10 0.01 0.10 0.10 0.10 0.08 0.06 0.04 0.02 0.06 0.33 0.38 0.44 0.09 <-Median-> 10 EPS/CF Ratio
-$120.9 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $247.0
-$97.0 $0.0 $0.0 $0.0 $0.0 $247.0
-$62.4 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $172.1
-$138.9 $0.0 $0.0 $0.0 $0.0 $172.1
Change in Close -8.78% -0.58% 44.18% 65.69% -3.04% 7.49% -1.17% 3.71% -14.98% 22.70% 12.51% 72.12% -8.71% 56.18% 0.00% 0.00% count 29 Change in Close
up/down down down down down down down up up down count 10
Meet Prediction? yes yes Yes Yes Yes % right count 6 60.00%
Financial Cash Flow $26.448 -$41.873 -$31.274 -$54.154 -$24.731 -$44.296 $995.136 -$281.1 $18.0 -$286.0 -$412.6 $276.5 -$296.7 C F Statement  Financial Cash Flow
Total Accruals $43.965 $39.333 $114.979 $45.659 $156.326 $247.549 -$13.693 $54.100 $122.900 $163.100 $81.900 $292.000 $313.500 Accruals
Accruals Ratio 3.32% 2.96% 7.83% 2.74% 7.78% 10.57% -0.32% 1.39% 3.06% 3.58% 1.87% 5.59% 5.55% 3.58% <-Median-> 5 Ratio
Cash $62.731 $36.11 $41.75 $143.03 $153.70 $67.34 $210.90 $239.5 $185.2 $207.0 $284.8 $186.7 $148.3 $172.0 Cash
Cash per shares $0.69 $0.40 $0.46 $1.54 $1.64 $0.71 $1.85 $2.10 $1.66 $1.86 $2.57 $1.68 $1.34 $1.55 $1.68 <-Median-> 5 Cash per Share
Percentage of Stock Price 4.94% 2.88% 2.30% 4.66% 5.13% 2.08% 5.45% 5.97% 5.54% 5.07% 6.21% 2.36% 2.06% 1.53% 5.07% <-Median-> 5 % of Stock Price
Notes:
November 25, 2023.  Last estimates were for 2022, 2023 and 2024 iof $4434M, $4756M and $4945M for Net Revenue, $3.01, $3.42 and $3.78 for AEPS, $2.11, $3.01 and $3.40 for EPS, 
$0.71, $0.76 and $0.79 for Dividends, $157M, $362M and $418M for FCF, $3.41, $6.19 and $6.22 for CFPS and $249M, $336M and $373M for Net Income.
November 26, 2022.  Last estimates were for 2021, 2022 and 2023 of $3646M, $4306M and $4481M for Net Revenue, $2.17, $2.67 and $3.08 for EPS, 
$0.66, $0.69 and $0.73 for Dividends, $209M, $321M and $360M for FCF, 3.37m $4.83 and $5.40 for CFPS, $245M, $293M and $340M for Net Income.
December 4, 2021.  Last estimates were for 2020, 2021 and 2022 of $3702M, $3786M and $3880M for Revenue, $1.67, $2.03 and $2.41 For EPS, 
$0.62, $0.63 and $0.62 for Dividends, $285M, $243M and $300M for FCF, $188M, $225M and $270M for Net Income.
December 12, 2020.  Last estimates were for 2019, 2020 and 2021 of $3701M, $3889M and $3924M for Revenue, $0.58 $0.60 and  $62 for Dividends, 
$1.75, $2.14 and 2.39 for EPS, $3.02, $3.48 and $3.72 for CFPS and $196M, $239M and $267M for Net Income.
December 13, 2019.  Last estimates were for $3533M, $3633M and $3735M for Net Revenue, $1.14, $1.92 and $2.19 for EPS, $0.55, $0.57 and $0.62 for Dividends, 
$1.86, $2.96 and $3.50 for CFPS and $130M, $224M and $250M for Net Income.
December 16, 2018.  Last estimates were for 2017, 2018 and 2019 of $3484M, $3740M and $3749M for Net Revenue, $1.16, $1.98 and $2.28 for EPS, 
$2.31 and $3.01 for CFPS fo 2017 and 2018 and $139M, $235M and $260M for Net Income.
December 17, 2017.  Last estimtes were for 2016, 2017 and 2018 of $3124M, $3738M and $3912M for Net Revenue, %1.36, $1.87 and $2.23 for EPS, 
$1.77. $3.01 and $3.37 for CFPS and $147M, $219M and $255M for Net Income.
December 23, 2016.  Last estimates were for 2015, 2016 and 2017 of $2398M, $2618M and $3009M for Revenue, $1.84, $2.14 and 2.46 for EPS, 
$2.14, $2.50 and $2.75 for CFPS and $175M, $202M and $232M for Net Income.
December 23, 2015.  Last estimates were for 2092M, $2393M and $2627M for Revenue, $1.79, $2.08 and $2.35 for EPS, 
$2.44, $2.53 and $2.99 for CFPS, $169M, $198M and $225M for Net Income.
December 19, 2014.  Last estimates were for 2013, 2014 and 2015 of $1841.8M, $2030.2M and $2259M for revenue, $3.14, $3.53 and $3.98 for EPS, 
$3.08, $3.53 and $4.03 CFPS and $146, $166 and $188 for net income.
December 15, 2013.  Last estimates were for 2012 and 2013 of $1558M and f$1660M for Revenue, $2.50 and $2.77 for EPS.
October 14, 2011.  Last estimates wee for 2011 and 2012 at $1,408M and $1,542M Revenue, $2.26 and $2.54 EPS and $3.20 and $3.41 CFPS.
They did a big write off of good will.  This depressed their EPS from $2.24 to $.028
August 7, 2011.  When I looked, I got estimates for 2010 and 2012 of $2.00 and $2.31 for Earning and $2.75 and $3.45 for CF.
April 2011.  In 2010, Stantec earned $95.3 million, or $2.08 a share, excluding one-time items (exclusions we agree with).
Stantec Inc. (TSX-STN) wrote, "Stantec announced today strong results for the full year of 2010." We disagree. 
However, Stantec remains a buy for long-term share price gains, provided you need no dividends.
Jun 18, 2010.  Last estimates were for 2010 and 2011 at $210 and $2.45 for earnings and $3.00 and $2.64 for CF.
Apr 26, 2010.  When I last looked at this stock I got estimates for 2009 and 2010 of $2.03 amd $2.30 for EPS and $3.10 and $3.30 for Cash Flow.
They had a good year, however, the earnings of $1.22 where way off the estimate of $2.03.  Cash Flow was way off too.
April 2009 AR 2008.  When I last looked at this stock in November 2008, I got earning estimates for 2008 and 2009 of $.60 and $1.20. Earnings came in at $.64, diluted $.63.
The 2009 estimates have gone up to $2.03.
June 2008.  I had a look at the stock today.  There has been a lot of sales by directors, but when I looked closely, it was just one director selling.  It is hard to say why he would sell, perhaps he needed money. 
Insider buying is more conclusive than insider selling.  People often sell for personal reasons, which have nothing to do with the stock. Stantec started rebuying their shares the first of May 2008 
as they believe they are undervalued.
Sector:
Construction, Industrial
What should this stock accomplish?
You would buy this stock for diversification reasons.  There may be volatility in this stock, especially concerning Earnings and Cash Flow. 
You should buy it for both rising dividends and capital gain appreciation.  Expect low dividend yield and moderate dividend growth.  
Over the longer term this sort of stock should have total returns of around 10% per year with 1 to 2% from dividends and the rest from capital gains.  
Would I buy this company and Why.
I still like this company and would consider it if I was looking for stock in connection with the construction industry.  It has a solid balance sheet and starting dividends is a very positive sign. 
Why am I following this stock. 
I bought this stock in April of 2008 to make some capital gains.  It was a non-dividend paying stock at that point.  A lot of people were recommending it as a great stock.
The reason it was recommend is that it is in the infrastructure business.  There are many that think this company will profit from government money promised for infrastructure building.  
I did not profit from this but sold in 2011 because it was non-core stock with no dividends.
I bought and sold this stock between 2008 and 2011 and did not make any money.  It was a non-core holding. With their new policy of dividends, this stock has become more interesting.
Why I bought and sold this stock.
I bought this stock for capital gains in April 2008.  I sold in September 2011.  I wanted to get rid of non-core stocks and this stock had not produced capital gains.
I had a capital loss of 22.6%.
Dividends
Dividends are payable in cycle 1, which is January, April, July and October.
Stantec declared first dividend payable on April 17,2012 to shareholders of record of March 30, 2012.  only 3 dividends were paid in the first year.
How they make their money
Stantec Inc is a sustainable engineering, architecture, and environmental consulting company. The company is geographically diversified in three 
regional operating units namely Canada, the United States and Global, offering similar services across all regions.
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 %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Change
Date 2015 Dec 24 2016 Dec 17 2017 Dec 16 2018 Dec 13 2019 Dec 12 2019 Dec 4 2021 Nov 26 2022 Nov 25 2023
Johnston, Gordon Allan 0.037 0.03% 0.038 0.03% 0.041 0.04% 0.069 0.06% 0.096 0.09% 0.091 0.08% 0.093 0.08% Will be CEO Jan 1, 2018 2.08%
CEO - Shares - Amount $1.299 $1.146 $1.503 $2.861 $6.799 $5.920 $9.437
Options - percentage 0.038 0.03% 0.050 0.04% 0.169 0.15% 0.152 0.14% 0.154 0.14% 0.200 0.18% 0.184 0.17% -7.98%
Options - amount $1.341 $1.491 $6.214 $6.280 $10.944 $12.992 $18.672
Gomes, Robert 0.19% 0.192 0.17% 0.194 0.17%
CEO - Shares - Amount $6.231 $6.522 $6.838
Options - percentage 0.39% 0.478 0.42% 0.481 0.42%
Options - amount $12.626 $16.229 $16.911
Jang, Theresa 0.009 0.01% 0.014 0.01% 0.016 0.01% 0.017 0.02% 0.017 0.02% 2.60%
CFO - Shares - Amount $0.337 $0.577 $1.153 $1.082 $1.733
Options - percentage 0.000 0.00% 0.012 0.01% 0.033 0.03% 0.058 0.05% 0.052 0.05% -11.45%
Options - amount $0.000 $0.497 $2.344 $3.785 $5.234
Lerner, Stuart 0.018 0.02% 0.025 0.02% 39.42%
Officer - Shares - Amount $1.159 $2.524
Options - percentage 0.050 0.04% 0.050 0.05% 0.93%
Options - amount $3.231 $5.093
Fleck, Steve Marvin 0.017 0.01% 0.017 0.02% 0.018 0.02% 4.10%
Officer - Shares - Amount $1.174 $1.116 $1.815
Options - percentage 0.033 0.03% 0.026 0.02% 0.032 0.03% 23.96%
Options - amount $2.344 $1.668 $3.229
Castro, Leonard de Oliveria 0.021 0.02% 0.022 0.02% 0.024 0.02%
Officer - Shares - Amount $0.639 $0.825 0 $0.983
Options - percentage 0.043 0.04% 0.054 0.05% 0.015 0.01%
Options - amount $1.273 $1.994 $0.616
Davert, Marshall 0.002 0.00% 0.006 0.01% 0.009 0.01% 0.010 0.01% 0.011 0.01% Last report May 2023 12.82%
Officer - Shares - Amount $0.076 $0.256 $0.669 $0.640 $1.127
Options - percentage 0.048 0.04% 0.038 0.03% 0.013 0.01% 0.015 0.01% 0.017 0.02% 17.22%
Options - amount $1.769 $1.557 $0.925 $0.943 $1.726
Alpern, Paul Jeremy David 0.027 0.02% 0.020 0.02% 0.021 0.02% 0.021 0.02% 0.022 0.02% 0.023 0.02% 0.023 0.02% Last report May 2023 3.02%
Officer - Shares - Amount $0.930 $0.585 $0.767 $0.879 $1.545 $1.463 $2.354
Options - percentage 0.043 0.04% 0.032 0.03% 0.040 0.04% 0.023 0.02% 0.010 0.01% 0.009 0.01% 0.012 0.01% 31.25%
Options - amount $1.458 $0.963 $1.466 $0.947 $0.729 $0.569 $1.167
Bradeen, Richard C. 0.001 0.00% 0.001 0.00% 0.001 0.00% 0.001 0.00% 0.001 0.00%
Director - Shares - Amount $0.030 $0.037 $0.041 $0.071 $0.065
Options - percentage 0.001 0.00% 0.005 0.00% 0.001 0.00% 0.016 0.01% 0.024 0.02%
Options - amount $0.038 $0.196 $0.045 $1.149 $1.542
Brown, Shelley Ann Marie 0.005 0.00% 0.006 0.01% 22.90%
Director - Shares - Amount $0.322 $0.618
Options - percentage 0.013 0.01% 0.015 0.01% 13.99%
Options - amount $0.859 $1.529
a Porta, Martin Anton 0.010 0.01% 0.010 0.01% 0.00%
Director $0.675 $1.054
Options - percentage 0.009 0.01% 0.012 0.01% 40.05%
Options - amount $0.568 $1.241
Ammerman, Douglas Keith 0.02% 0.027 0.02% 0.028 0.02% 0.029 0.03% 0.031 0.03% 0.033 0.03% 0.033 0.03% 0.033 0.03% 0.033 0.03% Used to be director 0.00%
Chair - Shares - Amount $0.549 $0.902 $0.978 $0.878 $1.143 $1.349 $2.321 $2.119 $3.309
Options - percentage 0.02% 0.029 0.03% 0.033 0.03% 0.037 0.03% 0.041 0.04% 0.045 0.04% 0.049 0.04% 0.061 0.06% 0.068 0.06% 10.88%
Options - amount $0.759 $0.979 $1.172 $1.108 $1.502 $1.854 $3.457 $3.965 $6.866
Keith, Aram H. 0.64% 0.519 0.46% 0.499 0.44% 0.328 0.29% Ceased insider May 2019
Chairman - Shares - Amt $20.614 $17.615 $17.566 $9.820
Options - percentage 0.05% 0.053 0.05% 0.060 0.05% 0.066 0.06%
Options - amount $1.561 $1.782 $2.095 $1.966
Increase in O/S Shares 0.73% 0.600 0.63% 0.254 0.22% 0.376 0.33% 0.339 0.30% 0.754 0.68% 1.840 1.66% 1.268 1.14% 0.561 0.51%
due to SO $21.840 $20.580 $8.621 $13.233 $10.139 $27.656 $75.987 $90.089 $36.412
Book Value $10.587 $17.658 $5.022 $7.900 $6.900 $18.900 $58.500 $41.200 $18.000
Insider Buying -$0.336 -$0.259 -$0.593 -$0.693 -$0.474 -$1.383 -$1.266 -$0.767 -$0.272
Insider Selling $0.349 $0.292 $0.051 $0.948 $3.091 $12.752 $15.459 $11.231 $1.947
Net Insider Selling $0.013 $0.033 -$0.542 $0.255 $2.616 $11.369 $14.193 $10.464 $1.675
% of Market Cap 0.00% 0.00% -0.01% 0.01% 0.06% 0.25% 0.18% 0.15% 0.01%
Directors 9 8 10 9 8 9 9 10
Women 22% 3 33% 3 38% 4 40% 4 44% 3 38% 3 33% 3 33% 4 40%
Minorities 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 0 0% 2 20%
Institutions/Holdings 70.20% 187 71.28% 193 73.10% 170 80.22% 20 78.62% 20 60.96% 20 62.24% 20 77.03% 20 52.77%
Total Shares Held 70.68% 81.216 71.19% 83.296 73.07% 91.335 81.65% 87.817 78.51% 68.334 61.09% 69.116 62.08% 85.309 76.99% 58.558 52.85%
Increase/Decrease -4.77% 1.019 1.27% -3.836 -4.40% 2.158 2.42% 2.447 2.87% -3.362 -4.69% -2.132 -2.99% 3.788 4.65% -1.826 -3.02%
Starting No. of Shares 80.196 87.132 89.177 85.370 Top 20 71.696 Top 20 71.249 Top 20 81.521 Top 20 60.383 Top 20
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