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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/ Q2 2016
Telus Corp TSX: T NYSE: TU www.telus.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
$12,628 <-12 mths 1.01%
Revenue* $7,581 $8,143 $8,681 $9,074 $9,653 $9,606 $9,779 $10,397 $10,921 $11,404 $12,002 $12,502 $13,007 $13,373 53.54% <-Total Growth 10 Revenue
Increase 6.09% 7.41% 6.61% 4.53% 6.38% -0.49% 1.80% 6.32% 5.04% 4.42% 5.24% 4.17% 4.04% 2.81% 4.38% <-IRR #YR-> 10 Revenue
5 year Running Average $6,962 $7,391 $7,712 $8,125 $8,626 $9,031 $9,359 $9,702 $10,071 $10,421 $10,901 $11,445 $11,967 $12,458 5.04% <-IRR #YR-> 5 Revenue
Revenue per Share $10.57 $11.63 $12.85 $13.57 $15.19 $15.12 $15.17 $16.00 $16.75 $18.29 $19.71 $21.04 $21.89 $22.50 4.47% <-IRR #YR-> 10 5 yr Running Average
Increase 4.09% 10.00% 10.45% 5.65% 11.97% -0.50% 0.33% 5.51% 4.68% 9.20% 7.73% 6.75% 4.04% 2.81% 4.11% <-IRR #YR-> 5 5 yr Running Average
5 year Running Average $10.60 $10.84 $11.07 $11.75 $12.76 $13.67 $14.38 $15.01 $15.65 $16.27 $17.18 $18.36 $19.53 $20.68 6.11% <-IRR #YR-> 10 Revenue per Share
P/S (Price/Sales) Med 1.38 1.83 2.10 2.17 1.34 1.07 1.32 1.61 1.82 1.84 2.03 2.04 6.76% <-IRR #YR-> 5 Revenue per Share
P/S (Price/Sales) Close 1.71 2.06 2.08 1.82 1.22 1.13 1.50 1.80 1.94 2.00 2.13 1.82 1.92 1.87 5.41% <-IRR #YR-> 10 5 yr Running Average
*Revenue in M CDN $ P/S Med 10 yr 1.83 5 yr 1.84 4.93% Diff M/C 5.01% <-IRR #YR-> 5 5 yr Running Average
-$8,143 $0 $0 $0 $0 $0 $0 $0 $0 $0 $12,502
-$9,779 $0 $0 $0 $0 $12,502
-$7,391 $0 $0 $0 $0 $0 $0 $0 $0 $0 $11,445
-$9,359 $0 $0 $0 $0 $11,445
-$11.63 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $21.04
-$15.17 $0.00 $0.00 $0.00 $0.00 $21.04
-$10.84 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $18.36
-$14.38 $0.00 $0.00 $0.00 $0.00 $18.36
$2.39 <-12 mths 4.37%
Pre-split 2013 $3.27 $3.23 $4.06
EPS Basic $0.79 $0.97 $1.64 $1.88 $1.76 $1.57 $1.62 $1.88 $2.03 $2.02 $2.31 $2.29 136.08% <-Total Growth 10 EPS Basic
EPS* $0.78 $0.97 $1.62 $1.88 $1.76 $1.57 $1.61 $1.87 $2.02 $2.01 $2.31 $2.29 $2.78 $2.94 136.08% <-Total Growth 10 EPS Diluted
Increase 71.43% 24.36% 66.49% 16.41% -6.65% -10.54% 2.55% 16.15% 7.75% -0.25% 14.93% -0.87% 21.40% 5.76% 8.97% <-IRR #YR-> 10 Earnings per Share
Earnings Yield 4.3% 4.1% 6.0% 7.6% 9.4% 9.2% 7.1% 6.5% 6.2% 5.5% 5.5% 6.0% 6.6% 7.0% 7.30% <-IRR #YR-> 5 Earnings per Share
5 year Running Average $0.51 $0.52 $0.69 $1.14 $1.40 $1.56 $1.69 $1.74 $1.76 $1.82 $1.96 $2.10 $2.28 $2.47 15.04% <-IRR #YR-> 10 5 yr Running Average
10 year Running Average $0.60 $0.60 $0.66 $0.79 $0.95 $1.03 $1.10 $1.21 $1.45 $1.61 $1.76 $1.89 $2.01 $2.12 4.48% <-IRR #YR-> 5 5 yr Running Average
* ESP per share (Cdn GAAP) E/P 10 Yrs 6.34% 5Yrs 5.99%
-$0.97 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.29
-$1.61 $0.00 $0.00 $0.00 $0.00 $2.29
-$0.52 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.10
-$1.69 $0.00 $0.00 $0.00 $0.00 $2.10
Special Dividends $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 2013 $0.60 $0.80 $1.10 $1.50 $1.80 $1.90 $1.95 $2.21
Dividend* $0.30 $0.40 $0.55 $0.75 $0.90 $0.95 $0.98 $1.08 $1.19 $1.32 $1.48 $1.64 $1.80 $1.84 $1.84 310.00% <-Total Growth 10 Dividends
Increase 0.00% 33.33% 37.50% 36.36% 20.00% 5.56% 2.63% 10.26% 10.70% 10.92% 12.12% 10.81% 9.76% 2.22% 0.00% Count 22 Years of data
Dividends 5 Yr Running $0.44 $0.38 $0.37 $0.46 $0.58 $0.71 $0.83 $0.93 $1.02 $1.10 $1.21 $1.34 $1.49 $1.62 $1.72 252.89% <-Total Growth 10 Dividends 5 Yr Running
Yield H/L Price 2.06% 1.88% 2.04% 2.55% 4.42% 5.85% 4.86% 4.17% 3.91% 3.92% 3.70% 3.83% 4.48% 3.91% <-Median-> 10 Yield H/L Price
Yield on High Price 1.60% 1.60% 1.71% 2.28% 3.72% 5.30% 4.09% 3.73% 3.61% 3.51% 3.38% 3.65% 4.09% 3.63% <-Median-> 10 Yield on High Price
Yield on Low Price 2.88% 2.26% 2.51% 2.90% 5.45% 6.52% 5.99% 4.73% 4.26% 4.43% 4.08% 4.02% 4.95% 4.34% <-Median-> 10 Yield on Low Price
Yield on Close Price 1.66% 1.67% 2.06% 3.03% 4.84% 5.57% 4.29% 3.73% 3.66% 3.61% 3.53% 4.29% 4.28% 4.38% 4.16% 3.69% <-Median-> 10 Yield on Close Price
Payout Ratio EPS 38.46% 41.24% 34.06% 39.89% 51.28% 60.51% 60.56% 57.49% 59.06% 65.67% 64.07% 71.62% 64.75% 62.59% #DIV/0! 59.78% <-Median-> 10 DPR EPS
DPR EPS 5 Yr Running 86.61% 73.50% 53.70% 40.35% 41.43% 45.57% 48.93% 53.54% 57.71% 60.72% 61.54% 63.89% 65.15% 65.53% #DIV/0! 53.62% <-Median-> 10 DPR EPS 5 Yr Running
Payout Ratio CFPS 8.48% 9.61% 13.26% 15.81% 20.28% 20.79% 24.69% 27.39% 24.10% 25.35% 26.46% 27.52% 32.79% 30.11% #DIV/0! 24.40% <-Median-> 10 DPR CF
DPR CF 5 Yr Running 15.42% 12.19% 10.63% 11.72% 13.79% 16.09% 18.88% 21.50% 23.33% 24.39% 25.58% 26.17% 27.33% 28.49% #DIV/0! 20.19% <-Median-> 10 DPR CF 5 Yr Running
Payout Ratio CFPS WC 8.47% 10.81% 12.04% 16.04% 18.61% 23.28% 24.50% 24.78% 23.62% 26.96% 27.26% 27.61% 31.97% 32.68% #DIV/0! 24.06% <-Median-> 10 DPR CF WC
DPR CF WC 5 Yr Running 14.78% 12.31% 10.49% 11.80% 13.60% 16.24% 18.63% 21.22% 22.85% 24.67% 25.51% 26.15% 27.59% 29.36% #DIV/0! 19.93% <-Median-> 10 DPR CF WC 5 Yr Running
Median Values 5 Yr Med 5 Yr Cl 3.91% 3.66% 5 Yr Med Payout 64.07% 26.46% 26.96% 25.95% <-IRR #YR-> 10 Dividends
* Dividends per share 5 Yr Med and Cur. 12.06% 19.75% Last Div Inc ---> $0.44 $0.46 4.5% 10.96% <-IRR #YR-> 5 Dividends
-$0.40 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.19 $0.00 $0.00 $1.64
-$0.98 $0.00 $0.00 $0.00 $0.00 $1.64
Historical Dividends Historical High Div 6.75% Low Div 1.62% Ave Div 4.19% Med Div 3.87% Close Div 3.57% Historical Dividends
High/Ave/Median Values Curr diff Exp. -35.14% 170.24% Cheap 4.61% Cheap 13.12% Cheap 22.57% High/Ave/Median
Future Dividend Yield Div Yd 7.05% earning in 5 Years at IRR of 10.00% Div Inc. 61.05% Future Dividend Yield
Future Dividend Yield Div Yd 11.35% earning in 10 Years at IRR of 10.00% Div Inc. 159.37% Future Dividend Yield
Future Dividend Yield Div Yd 18.29% earning in 15 Years at IRR of 10.00% Div Inc. 317.72% Future Dividend Yield
Cost covered if held 5 years 12.38% 9.48% 12.16% 30.39% 27.55% 24.39% 19.35% 17.23% 17.31% 27.07% 37.19% 33.43% 28.82% 26.53% 25.52% 25.73% <-Median-> 10 Paid Median Price
Cost covered if held 10 years 36.62% 28.49% 24.28% 32.35% 30.07% 42.73% 97.65% 79.90% 65.90% 50.80% 44.76% 44.80% 69.31% 39.68% <-Median-> 10 Paid Median Price
Cost covered if held 15 years 69.82% 56.13% 48.61% 66.33% 63.53% 91.57% 204.43% 161.62% 63.53% <-Median-> 5 Paid Median Price
Cost covered if held 20 years 122.86% 100.01% 86.58% #NUM! <-Median-> 0 Paid Median Price
Yield if held 5 yrs 1.69% 2.00% 3.62% 9.91% 8.55% 6.53% 4.57% 3.98% 4.05% 6.48% 9.11% 8.18% 6.98% 6.04% 5.46% 6.75% <-Median-> 10 Paid Median Price
Yield if held 10 yrs 3.93% 4.07% 3.97% 5.34% 4.87% 7.07% 15.73% 12.54% 10.17% 7.69% 6.67% 6.26% 9.04% 6.87% <-Median-> 10 Paid Median Price
Yield if held 15 yrs 7.67% 6.46% 5.83% 8.33% 8.18% 11.83% 24.31% 17.48% 7.93% <-Median-> 6 Paid Median Price
Yield if held 20 yrs 12.85% 9.99% 8.12% 12.85% <-Median-> 1 Paid Median Price
Graham No. $13.11 $14.63 $19.38 $20.93 $21.13 $20.49 $21.44 $22.06 $23.12 $24.11 $25.22 $25.79 $29.15 $29.98 $0.00 76.24% <-Total Growth 10 Graham Price
Price/GP Ratio Med 1.11 1.46 1.39 1.40 0.96 0.79 0.94 1.17 1.32 1.40 1.59 1.66 1.38 1.36 <-Median-> 10 Price/GP Ratio
Price/GP Ratio High 1.43 1.70 1.66 1.57 1.15 0.87 1.11 1.31 1.43 1.56 1.74 1.74 1.51 1.49 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Low 0.79 1.21 1.13 1.24 0.78 0.71 0.76 1.03 1.21 1.24 1.44 1.58 1.25 1.17 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Close 1.38 1.63 1.38 1.18 0.88 0.83 1.06 1.31 1.41 1.52 1.66 1.48 1.44 1.40 #DIV/0! 1.34 <-Median-> 10 Price/GP Ratio
Prem/Disc Close 38.11% 63.49% 38.11% 18.10% -12.04% -16.78% 6.08% 30.66% 40.79% 51.62% 66.09% 48.35% 44.19% 40.21% #DIV/0! 34.38% <-Median-> 10 Graham Price
Pre-split 2013 $36.22 $47.85 $53.52 $49.44 $37.17 $34.11 $45.48 $57.64
Price Close $18.11 $23.93 $26.76 $24.72 $18.59 $17.06 $22.74 $28.82 $32.55 $36.56 $41.89 $38.26 $42.03 $42.03 $42.03 59.92% <-Total Growth 10 Stock Price
Increase 39.58% 32.11% 11.85% -7.62% -24.82% -8.23% 33.33% 26.74% 12.94% 12.32% 14.58% -8.67% 9.85% 0.00% 5.16% 4.81% <-IRR #YR-> 10 Stock Price
P/E 23.22 24.66 16.57 13.15 10.59 10.86 14.12 15.41 16.15 18.19 18.13 16.71 15.12 14.30 #DIV/0! 10.97% <-IRR #YR-> 5 Stock Price
Trailing P/E 39.80 30.67 27.59 15.31 9.89 9.72 14.48 17.90 17.41 18.14 20.84 16.56 18.35 15.12 15.03 8.31% <-IRR #YR-> 10 Price & Dividend
Median 10, 5 Yrs D. per yr 3.50% 4.73% % Tot Ret 42.15% 30.15% Price Inc 12.94% P/E: 15.78 16.71 15.70% <-IRR #YR-> 5 Price & Dividend
-$23.93 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $38.26
-$22.74 $0.00 $0.00 $0.00 $0.00 $38.26
-$23.93 $0.55 $0.75 $0.90 $0.95 $0.98 $1.08 $1.19 $1.32 $1.48 $39.90
-$22.74 $1.08 $1.19 $1.32 $1.48 $39.90
Price H/L Median $14.55 $21.32 $26.99 $29.40 $20.36 $16.24 $20.06 $25.79 $30.46 $33.70 $40.03 $42.87 $40.18 101.10% <-Total Growth 10 Stock Price
Increase 38.27% 46.49% 26.60% 8.94% -30.76% -20.21% 23.47% 28.57% 18.13% 10.62% 18.80% 7.09% -6.27% 7.24% <-IRR #YR-> 10 Stock Price
P/E 18.66 21.98 16.71 15.64 11.60 10.35 12.46 13.79 15.12 16.76 17.33 18.72 14.45 16.41% <-IRR #YR-> 5 Stock Price
Trailing P/E 31.98 27.33 27.82 18.20 10.83 9.25 12.77 16.02 16.29 16.72 19.92 18.56 17.55 10.77% <-IRR #YR-> 10 Price & Dividend
P/E on Run. 5 yr Ave 28.65 41.23 39.17 25.79 14.54 10.43 11.90 14.84 17.27 18.56 20.39 20.42 17.62 21.32% <-IRR #YR-> 5 Price & Dividend
P/E on Run. 10 yr Ave 24.44 35.62 41.01 37.36 21.45 15.72 18.21 21.26 20.98 20.96 22.74 22.65 20.00 17.05 P/E Ratio Historical Median
Median 10, 5 Yrs D. per yr 3.54% 4.91% % Tot Ret 32.84% 23.02% Price Inc 18.13% P/E: 15.38 16.76 Count 20 Years of data
-$21.32 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $42.87
-$20.06 $0.00 $0.00 $0.00 $0.00 $42.87
-$21.32 $0.55 $0.75 $0.90 $0.95 $0.98 $1.08 $1.19 $1.32 $1.48 $44.51
-$20.06 $1.08 $1.19 $1.32 $1.48 $44.51
High Months Sep Sep Jun May Sep Dec Dec Dec May Nov Jul Jul
Pre-split 2013 $37.40 $49.87 $64.15 $65.86 $48.43 $35.82 $47.69 $57.64
Price High $18.70 $24.94 $32.08 $32.93 $24.22 $17.91 $23.85 $28.82 $32.97 $37.57 $43.78 $44.97 $44.01 80.35% <-Total Growth 10 Stock Price
Increase 39.29% 33.34% 28.63% 2.67% -26.47% -26.04% 33.14% 20.86% 14.40% 13.95% 16.53% 2.72% -2.13% 6.07% <-IRR #YR-> 10 Stock Price
P/E 23.97 25.71 19.86 17.52 13.80 11.41 14.81 15.41 16.36 18.69 18.95 19.64 15.83 13.53% <-IRR #YR-> 5 Stock Price
Trailing P/E 41.10 31.97 33.07 20.39 12.88 10.21 15.19 17.90 17.63 18.65 21.78 19.47 19.22 19.64 P/E Ratio Historical Median
Median 10, 5 Yrs Price Inc 14.40% P/E: 16.94 18.69 29.45 P/E Ratio Historical High
-$24.94 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $44.97
-$23.85 $0.00 $0.00 $0.00 $0.00 $44.97
Low Months Jan Feb Aug Dec Apr Feb Jan Feb Jun Jan Jun Jan
Pre-split 2013 $20.81 $35.40 $43.80 $51.74 $33.00 $29.15 $32.53 $45.50
Price Low $10.41 $17.70 $21.90 $25.87 $16.50 $14.58 $16.27 $22.75 $27.95 $29.82 $36.28 $40.77 $36.35 130.34% <-Total Growth 10 Stock Price
Increase 36.46% 70.11% 23.73% 18.13% -36.22% -11.67% 11.60% 39.87% 22.86% 6.69% 21.66% 12.38% -10.84% 8.70% <-IRR #YR-> 10 Stock Price
P/E 13.34 18.25 13.56 13.76 9.40 9.28 10.10 12.17 13.87 14.84 15.71 17.80 13.08 20.18% <-IRR #YR-> 5 Stock Price
Trailing P/E 22.87 22.69 22.58 16.02 8.78 8.30 10.36 14.13 14.95 14.80 18.05 17.65 15.87 13.87 P/E Ratio Historical Median
Median 10, 5 Yrs Price Inc 21.66% P/E: 13.66 14.84 11.72 P/E Ratio Historical Low
-$17.70 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $40.77
-$16.27 $0.00 $0.00 $0.00 $0.00 $40.77
Long Term Debt $9,321 $12,038 Debt
Ratio to Market Cap 0.37 0.53 0.45 <-Median-> 2 % of Market C.
Goodwill & Intangibles $9,883 $10,268 $11,554 $11,554 Intangibles Goodwill
Ratio to Market Cap 0.47 0.45 0.45 0.51 0.46 <-Median-> 4 % of Market C.
Market Cap $12,987 $16,752 $18,085 $16,530 $11,807 $10,837 $14,661 $18,724 $21,220 $22,793 $25,512 $22,738 $24,978 $24,978 $26,268 35.74% <-Total Growth 10 Market Cap
Pre-split 2013 361.0 347.4 318 321 326 327
Diluted 722.0 694.8 334 322 636 642 652 654 643 618 604 -16.34% <-Total Growth 10 Diluted
Change -3.77% -51.93% -3.59% 97.52% 0.94% 1.56% 0.31% -1.68% -3.89% -2.27% -1.97% <-Median-> 10 Change
Pre-split 2013 357.1 343.8 318 320 324 326
Average # of Sh in M 710.6 714.2 687.6 664 640 636 640 648 652 640 616 603 -15.57% <-Total Growth 10 Average
Change 1.72% 0.51% -3.72% -3.43% -3.61% -0.63% 0.63% 1.25% 0.62% -1.84% -3.75% -2.11% -1.98% <-Median-> 10 Change
Difference 0.9% -2.0% -1.7% 0.7% -0.7% -0.1% 0.7% 0.3% 0.0% -2.6% -1.1% -1.4% -0.42% <-Median-> 10 Difference
$3,336 <-12 mths -5.82%
BC Tel 1-1
Telus 1-.7773
# of Share in Millions 717.10 700.17 675.82 668.69 635.30 635.39 644.73 649.70 651.93 623.43 609.02 594.30 594.30 594.30 594.30 -1.63% <-IRR #YR-> 10 Shares
Change 1.92% -2.36% -3.48% -1.05% -4.99% 0.01% 1.47% 0.77% 0.34% -4.37% -2.31% -2.42% 0.00% 0.00% 0.00% -1.62% <-IRR #YR-> 5 Shares
CF fr Op $M $2,538.1 $2,914.6 $2,803.7 $3,171.7 $2,819.0 $2,904.0 $2,546.0 $2,550.0 $3,219 $3,246 $3,407 $3,542 $3,263 $3,631 21.53% <-Total Growth 10 Cash Flow
Increase 18.95% 14.83% -3.80% 13.13% -11.12% 3.02% -12.33% 0.16% 26.24% 0.84% 4.96% 3.96% -7.89% 11.29% SO, Buy Backs
5 year Running Average $1,891 $2,147 $2,426 $2,712 $2,849 $2,923 $2,849 $2,798 $2,808 $2,893 $2,994 $3,193 $3,335 $3,418 48.69% <-Total Growth 10 CF 5 Yr Running
CFPS $3.54 $4.16 $4.15 $4.74 $4.44 $4.57 $3.95 $3.92 $4.94 $5.21 $5.59 $5.96 $5.49 $6.11 43.18% <-Total Growth 10 Cash Flow per Share
Increase 16.71% 17.61% -0.34% 14.33% -6.45% 3.00% -13.60% -0.61% 25.80% 5.45% 7.44% 6.54% -7.89% 11.29% 1.97% <-IRR #YR-> 10 Cash Flow
5 year Running Average $2.85 $3.12 $3.48 $3.93 $4.21 $4.41 $4.37 $4.32 $4.36 $4.52 $4.72 $5.12 $5.44 $5.67 6.83% <-IRR #YR-> 5 Cash Flow
P/CF on Med Price 4.11 5.12 6.51 6.20 4.59 3.55 5.08 6.57 6.17 6.47 7.16 7.19 7.32 3.65% <-IRR #YR-> 10 Cash Flow per Share
P/CF on Closing Price 5.12 5.75 6.45 5.21 4.19 3.73 5.76 7.34 6.59 7.02 7.49 6.42 7.66 8.58% <-IRR #YR-> 5 Cash Flow per Share
20.85% Diff M/C 5.10% <-IRR #YR-> 10 CFPS 5 yr Running
Excl.Working Capital CF $2.90 -$324.90 $283.50 -$44.40 $254.00 -$311.00 $20.00 $268.00 $66.00 -$194.00 -$101.00 -$12.00 $0 $0 3.24% <-IRR #YR-> 5 CFPS 5 yr Running
CF fr Op $M WC $2,541.0 $2,589.7 $3,087.2 $3,127.3 $3,073.0 $2,593.0 $2,566.0 $2,818.0 $3,285 $3,052 $3,306 $3,530 $3,263 $3,631 36.31% <-Total Growth 10 Cash Flow less WC
Increase 20.40% 1.92% 19.21% 1.30% -1.74% -15.62% -1.04% 9.82% 16.57% -7.09% 8.32% 6.78% -7.57% 11.29% 3.15% <-IRR #YR-> 10 Cash Flow less WC
5 year Running Average $1,968 $2,125 $2,457 $2,691 $2,884 $2,894 $2,889 $2,835 $2,867 $2,863 $3,005 $3,198 $3,287 $3,356 6.59% <-IRR #YR-> 5 Cash Flow less WC
CFPS Excl. WC $3.54 $3.70 $4.57 $4.68 $4.84 $4.08 $3.98 $4.34 $5.04 $4.90 $5.43 $5.94 $5.63 $5.63 4.17% <-IRR #YR-> 10 CF less WC 5 Yr Run
Increase 18.13% 4.38% 23.51% 2.38% 3.43% -15.63% -2.47% 8.98% 16.17% -2.85% 10.89% 9.42% -5.22% 0.00% 2.05% <-IRR #YR-> 5 CF less WC 5 Yr Run
5 year Running Average $2.98 $3.09 $3.53 $3.90 $4.26 $4.37 $4.43 $4.38 $4.45 $4.47 $4.74 $5.13 $5.39 $5.50 4.85% <-IRR #YR-> 10 CFPS - Less WC
P/CF on Med Price 4.11 5.12 6.51 6.20 4.59 3.55 5.08 6.57 6.17 6.47 7.37 7.22 8.34% <-IRR #YR-> 5 CFPS - Less WC
P/CF on Closing Price 6.55 5.75 6.45 5.21 4.19 3.73 5.76 7.34 6.59 7.02 7.72 6.44 7.66 6.88 5.21% <-IRR #YR-> 10 CFPS 5 yr Running
*Operational Cash Flow per share CF/-WC P/CF Med 10 yr 6.33 5 yr 6.57 P/CF Med 10 yr 6.33 5 yr 6.57 20.85% Diff M/C 2.98% <-IRR #YR-> 5 CFPS 5 yr Running
-$3.95 $0.00 $0.00 $0.00 $0.00 $5.96 Cash Flow per Share
-$3.12 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $5.12 CFPS 5 yr Running
-$4.37 $0.00 $0.00 $0.00 $0.00 $5.12 CFPS 5 yr Running
-$2,589.7 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $3,530.0 Cash Flow less WC
-$2,566.0 $0.0 $0.0 $0.0 $0.0 $3,530.0 Cash Flow less WC
-$2,125.4 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $3,198.2 CF less WC 5 Yr Run
-$2,889.3 $0.0 $0.0 $0.0 $0.0 $3,198.2 CF less WC 5 Yr Run
-$3.70 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $5.94 CFPS - Less WC
-$3.98 $0.00 $0.00 $0.00 $0.00 $5.94 CFPS - Less WC
-$3.09 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $5.13 CFPS 5 yr Running
-$4.43 $0.00 $0.00 $0.00 $0.00 $5.13 CFPS 5 yr Running
Net change in non-cash operating working capital $52.00 $353.70 -$247.70 $25.10 -$1.00 $339.00 -$236.00 -$255.0 $52.0 $187.0 -$64.0 $214.0
Income and other taxes receivable -$54.90 -$28.80 -$35.80 $19.30 -$253.00 -$28.00 $216.00 -$13.0 -$118.0 $7.0 $165.0 -$202.0
and payable, net
                       
Net. -$2.90 $324.90 -$283.50 $44.40 -$254.00 $311.00 -$20.0 -$268.0 -$66.0 $194.0 $101.0 $12.0
Google     -$66.0 $194.0 $101.0 $12.0
Difference $0.0 $0.0 $0.0 $0.0
OPM 33.48% 35.79% 32.30% 34.95% 29.20% 30.23% 26.04% 24.53% 29.48% 28.46% 28.39% 28.33% -20.85% <-Total Growth 10 OPM
Increase 12.12% 6.92% -9.77% 8.22% -16.45% 3.52% -13.88% -5.80% 20.18% -3.43% -0.27% -0.20% Should increase or be stable.
Diff from Ave 16.11% 24.14% 12.01% 21.22% 1.28% 4.85% -9.70% -14.94% 2.23% -1.28% -1.55% -1.74% 0.00 <-Median-> 10 OPM
*Operational Profit Margin (CF/Revenue) Ratio OPM 10 Yrs 28.83% 5 Yrs 28.39% should be zero, it is a check on calculations
Current Assets $2,647.6 $1,242.5 $1,344.9 $1,340.7 $1,558 $1,127 $1,390 $2,051 $2,210 $2,329 $2,186 $2,331 $2,528 Liquidity ratio of 1.5 and up, best
Current Liabilities $1,969.1 $2,027.6 $3,738.2 $2,686.0 $3,057 $2,964 $3,949 $3,845 $3,520 $3,299 $3,499 $4,276 $5,015 0.52 <-Median-> 10 Ratio
Liquidity 1.34 0.61 0.36 0.50 0.51 0.38 0.35 0.53 0.63 0.71 0.62 0.55 0.50 0.62 <-Median-> 5 Ratio
Liq. with CF aft div 2.52 1.91 1.01 1.49 1.24 1.16 0.84 1.01 1.32 1.44 1.34 1.15 0.94 1.32 <-Median-> 5 Ratio
Liq. CF re Inv+Div 1.52 1.15 0.70 0.90 0.59 0.67 0.58 0.67 0.83 0.84 0.65 0.56 0.94 0.67 <-Median-> 5 Ratio
Curr Long Term Db $1,066 $545 $21 $255 $255 $255
Liquidity Less CLTD 0.74 0.74 0.71 0.67 0.58 0.53 0.71 <-Median-> 5 Ratio
Liq. with CF aft div 1.40 1.56 1.45 1.45 1.22 0.99 1.45 <-Median-> 5 Ratio
Assets $17,838 $16,222 $16,508 $16,988 $19,160 $19,219 $19,599 $19,931 $20,445 $21,566 $23,217 $26,406 $27,212 Debt Ratio of 1.5 and up, best
Liabilities $10,799 $9,327 $9,503 $10,036 $11,955 $11,644 $11,398 $12,418 $12,759 $13,551 $15,763 $18,734 $19,131 1.60 <-Median-> 10 Ratio
Debt Ratio 1.65 1.74 1.74 1.69 1.60 1.65 1.72 1.61 1.60 1.59 1.47 1.41 1.42 1.59 <-Median-> 5 Ratio
Total Book Value $7,039 $6,896 $7,006 $6,952 $7,205 $7,575 $8,201 $7,513 $7,686 $8,015 $7,454 $7,672 $8,081 $8,081 $8,081 11.26% <-Total Growth 10 Book Value
NCI $13 $26 $24 $26 $23 $21 $22 $0 $0 $0 $0 $0 $8 $8 $8
Book Value $7,026 $6,870 $6,982 $6,926 $7,182 $7,554 $8,179 $7,513 $7,686 $8,015 $7,454 $7,672 $8,073 $8,073 $8,073 11.67% <-Total Growth 10 Book Value
Book Value per Share $9.80 $9.81 $10.33 $10.36 $11.30 $11.89 $12.69 $11.56 $11.79 $12.86 $12.24 $12.91 $13.58 $13.58 $13.58 31.57% <-Total Growth 10 Book Value per Share
Change 5.71% 0.15% 5.29% 0.26% 9.14% 5.16% 6.71% -8.85% 1.95% 9.05% -4.80% 5.47% 5.23% 0.00% 0.00% 19.10% P/B Ratio Current/10 Year Median
P/B Ratio (Median) 1.49 2.17 2.61 2.84 1.80 1.37 1.58 2.23 2.58 2.62 3.27 3.32 2.96 2.06 P/B Ratio Historical Median
P/B Ratio (Close) 1.85 2.44 2.59 2.39 1.64 1.43 1.79 2.49 2.76 2.84 3.42 2.96 3.09 3.09 3.25 2.78% <-IRR #YR-> 10 Book Value per Share
Change 32.04% 31.91% 6.23% -7.86% -31.12% -12.74% 24.95% 39.04% 10.78% 3.00% 20.35% -13.41% 4.40% 0.00% 5.16% 0.35% <-IRR #YR-> 5 Book Value per Share
Leverage (A/BK) 2.53 2.35 2.36 2.44 2.66 2.54 2.39 2.65 2.66 2.69 3.11 3.44 3.37 2.66 <-Median-> 10 A/BV
Debt/Equity Ratio 1.53 1.35 1.36 1.44 1.66 1.54 1.39 1.65 1.66 1.69 2.11 2.44 2.37 1.66 <-Median-> 10 Debt/Eq Ratio
Sharerholders Equity (Assets less liabilities) P/BV 10 yr Med 2.60 5 yr Med 2.62 19.10% Diff M/C 2.60 Historical A/BV
-$9.81 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $12.91
-$12.69 $0.00 $0.00 $0.00 $0.00 $12.91
$1,772 <-12 mths -4.01%
Comprehensive Income $1,151 $1,332 $1,102 $1,060 $1,092 $374 $947 $2,283 $987 $1,846 60.41% <-Total Growth 9 Comprehensive Income
Increase 15.75% -17.27% -3.81% 3.02% -65.75% 153.21% 141.08% -56.77% 87.03% 87.03% <-Median-> 5 Comprehensive Income
ROE 16.5% 19.2% 15.3% 14.0% 13.4% 5.0% 12.3% 28.5% 13.2% 24.1% 13.2% <-Median-> 5 Comprehensive Income
5Yr Median 15.3% 14.0% 13.4% 13.4% 13.2% 13.2% 5.39% <-IRR #YR-> 9 Comprehensive Income
% Difference from NI 2.5% 5.9% -2.3% 6.2% 5.2% -69.2% -28.1% 76.4% -30.7% 33.6% 11.07% <-IRR #YR-> 5 Comprehensive Income
Median Values Diff 5, 10 yr 3.9% -28.1%
-$1,150.8 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $1,846.0
-$1,092.0 $0.0 $0.0 $0.0 $0.0 $1,846.0
Current Liability Coverage Ratio 1.29 1.28 0.83 1.16 1.01 0.87 0.65 0.73 0.93 0.93 0.94 0.83 CFO / Current Liabilities
5 year Median 0.90 0.98 0.98 1.16 1.16 1.01 0.87 0.87 0.87 0.87 0.93 0.93 0.93 <-Median-> 5 Current Liability Cov Ratio
Asset Efficiency Ratio 14.24% 15.96% 18.70% 18.41% 16.04% 13.49% 13.09% 14.14% 16.07% 14.15% 14.24% 13.37% CFO / Total Assets
5 year Median 10.99% 12.08% 14.24% 15.96% 16.04% 16.04% 16.04% 14.14% 14.14% 14.14% 14.15% 14.15% 14.2% <-Median-> 5 Return on Assets
Return on Assets 3.2% 4.3% 6.8% 7.4% 5.9% 5.2% 5.3% 6.1% 6.4% 6.0% 6.1% 5.2% Net Income/Assets ROA
5Yr Median 2.4% 2.4% 3.2% 4.3% 5.9% 5.9% 5.9% 5.9% 5.9% 6.0% 6.1% 6.1% 6.1% <-Median-> 5 ROA
ROE 8.1% 10.2% 16.1% 18.2% 15.7% 13.2% 12.7% 16.2% 17.1% 16.1% 19.1% 18.0% Net Inc/ Shareholders' equity ROE
5Yr Median 6.5% 6.5% 8.1% 10.2% 15.7% 15.7% 15.7% 15.7% 15.7% 16.1% 16.2% 17.1% 17.1% <-Median-> 5 ROE
$1,420 <-12 mths 2.75%
Net Income $565.8 $700.3 $1,122.5 $1,257.9 $1,128 $998 $1,038 $1,215 $1,318 $1,294 $1,425 $1,382 $1,708 $1,843 97.34% <-Total Growth 10 Net Income
Increase 74.41% 23.77% 60.29% 12.06% -10.33% -11.52% 4.01% 17.05% 8.48% -1.82% 10.12% -3.02% 23.59% 7.90% EPS/CF Ratio should not be higher than 1.00
5 Yr Running Average $315 $363 $497 $794 $955 $1,041 $1,109 $1,127 $1,139 $1,173 $1,258 $1,327 $1,425 $1,530 7.03% <-IRR #YR-> 10 Net Income
Operating Cash Flow $2,538.1 $2,914.6 $2,803.7 $3,171.7 $2,819 $2,904 $2,546 $2,550 $3,219 $3,246 $3,407 $3,542 5.89% <-IRR #YR-> 5 Net Income
Investment Cash Flow -$1,299.5 -$1,355.2 -$1,675.2 -$1,771.6 -$3,433 -$2,128 -$1,707 -$1,968 -$2,058 -$2,389 -$3,668 -$4,477 13.84% <-IRR #YR-> 10 5 Yr Running Ave.
Total Accruals -$672.80 -$859.10 -$6.00 -$142.20 $1,742.00 $222.00 $199.00 $633.00 $157.00 $437.00 $1,686.00 $2,317.00 3.65% <-IRR #YR-> 5 5 Yr Running Ave.
Total Assets $17,838.0 $16,222.3 $16,508.2 $16,987.6 $19,160 $19,219 $19,599 $19,931 $20,445 $21,566 $23,217 $26,406 Balance Sheet Assets
Accruals Ratio -3.77% -5.30% -0.04% -0.84% 9.09% 1.16% 1.02% 3.18% 0.77% 2.03% 7.26% 8.77% 3.18% <-Median-> 5 Ratio
EPS/CF Ratio 0.22 0.26 0.35 0.40 0.36 0.38 0.40 0.43 0.40 0.41 0.43 0.39 0.49 0.40 <-Median-> 10 EPS/CF Ratio
-$700 $0 $0 $0 $0 $0 $0 $0 $0 $0 $1,382
-$1,038 $0 $0 $0 $0 $1,382
-$363 $0 $0 $0 $0 $0 $0 $0 $0 $0 $1,327
-$1,109 $0 $0 $0 $0 $1,327
Change in Close 39.58% 32.11% 11.85% -7.62% -24.82% -8.23% 33.33% 26.74% 12.94% 12.32% 14.58% -8.67% 9.85% 0.00% 5.16% Count 20 Change in Close
up/down down down down Count 5
Meet Prediction? Yes Yes % right Count 3 60.00%
Financial Cash Flow -$348 -$2,247 -$1,149 -$1,369 $598 -$739 -$863 -$553 -$1,100 -$628 -$15 $1,098 C F Statement Financial Cash Flow
Total Accruals -$325 $1,388 $1,143 $1,227 $1,144 $961 $1,062 $1,186 $1,257 $1,065 $1,701 $1,219 Accruals
Accruals Ratio -1.82% 8.56% 6.92% 7.22% 5.97% 5.00% 5.42% 5.95% 6.15% 4.94% 7.33% 4.62% 5.95% <-Median-> 5 Ratio
Cash $41 $17 $46 $107 $336 $60 $223 Cash
Cash per Share $0.06 $0.03 $0.07 $0.16 $0.54 $0.10 $0.38 $0.16 <-Median-> 5 Cash per Share
Percentage of Stock Price 0.38% 0.12% 0.25% 0.50% 1.47% 0.24% 0.98% 0.50% <-Median-> 5 % of Stock Price
September 18, 2016. Last estimates were for 2015, 2016 and 2017 of $12524M, $13007M and $13373M for Revenue, $2.52, $2.78 and $2.94 for EPS, $5.49, $5.89 and $6.11 for CFPS and $1519M, $1708M and $1843M for Net Income.
September 23, 2015. Last estimates were for 2014, 2015 and 2016 of $11901M, $12357M and $13669M for Revenue, $2.35, $2.60 and $2.79 for EPS, $4.90, $5.36 and $6.00 for CFPS and $1472M, $1602M and $1677M for Net Income.
September 15, 2014. Last estimates were for 2013, 2014 and 2015 of $11421M, $11852M and $12224M for Revenue, $2.09, $2.30 and $2.62 for EPS, $4.86, $4.86, $4.86
In 2013 they got rid of non-voting shares and now only have common shares.
August 18, 2013. Last estimates were for 2012 and 2013 of $10.383 (2012 only) Revenue, $4.05 and $4.44 EPS and $9.09 (2012 only) for CFPS.
In 2013, all the non-voting shares were changed into common shares, so now there is only one type of shares.
February 4 2013. Non-voting shares of Telus, with the ticker symbol T.A were converted one-for-one into voting shares, with the ticker symbol T. On February 11 all the shares began trading under the one ticker symbol.
Feb 6, 2012. Last estimates I got were for 2010 and 2011 of $3.25 and $3.65 for EPS and $7.65 and $8.80 for CF
Telus non-voting shares are TSX-T.A and US shares on NYSE of TU. I am following TSX-T, which are the voting shares. Both shares get the same dividend amount per share.
BC Telecom and Telus joined 31 Jan1999
If federal foreign ownership restrictions were removed, non-voting shares may convert on a one-for-one basis to common shares.
Would I buy this company and Why.
If I was looking for a telecom stock, I would consider this one. It is a dividend growth stock.
Dividends
Dividends are paid in Cycle 1, that is January, April, July and October. Dividends are declared for shareholders of record of one month and paid in the following month.
For example, the dividend declared for the shareholders of record of September 10, 2013 was paid on October 1, 2013.
Why am I following this stock.
I started to follow this stock because of a list of stock John Sartz talked about in 2008.
At the Toronto Money Shows in 2009 and 2010 Aaron Dunn from KeyStone Financial Publishing Corp talked about having recommended this stock.
Aaron Dunn says he likes companies with resilient business models, which are profitable and are growing their earnings. He also like companies with strong management teams, health balance sheets and compelling valuations.
They look at the P/E and the Price/Cash Flow ratios. Telus Corp (TSX-T) was one of three stocks he recommended in 2009.
How they make their money.
Telus is a national telecommunications company in Canada. Telus provides a wide range of communications products and services including data, Internet protocol (IP), voice, entertainment and video.
http://www.cantechletter.com/2014/01/europacific-canadas-rob-goff-reveals-top-tech-picks-2014/
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 %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M
On Sep 16 2014 Feb 6 2012 Aug 8 2013 Sep 16 2014 Sep 24 2015 Sep 18 2016
Entwistle, Darren 2.683 0.43% 0.140 0.02% 0.245 0.04%
CEO - Shares - Amount $98.091 $5.371 $10.303
Options - percentage 1.436 0.23% 0.534 0.09% -0.566 -0.10%
Options - amount $52.483 $20.447 -$23.792
Natale, Joe 0.170 0.03%
CEO - Shares - Amount $7.114
Options - percentage 0.341 0.06%
Options - amount $14.303
French, Douglas 0.002 0.00%
CFO - Shares - Amount $0.100
Options - percentage 0.041 0.01%
Options - amount $1.717
Gossling, John Richard 0.001 0.00% 0.002 0.00% 0.004 0.00%
CFO - Shares - Amount $0.042 $0.066 $0.135
Options - percentage 0.089 0.01% 0.082 0.01% 0.111 0.02%
Options - amount $3.247 $3.449 $4.264
Arora, Navin 0.012 0.00% 0.012 0.00%
Officer - Shares - Amount $0.497 $0.478
Options - percentage 0.055 0.01% 0.049 0.01%
Options - amount $2.284 $1.862
Blair, Joshua Andrew 0.124 0.02% 0.147 0.02% 0.161 0.03%
Officer - Shares - Amount $4.547 $5.611 $6.767
Options - percentage 0.172 0.03% 0.170 0.03% 0.170 0.03%
Options - amount $6.296 $6.517 $7.156
Bouchard, Micheline 0.011 0.00% 0.011 0.00%
Director - Shares - Amount $0.413 $0.472
Options - percentage 0.077 0.01% 0.083 0.01%
Options - amount $2.929 $3.489
Baillie, A. Charles 0.274 0.05%
Director - Shares - Amount $11.495
Options - percentage 0.117 0.02%
Options - amount $4.886
Auchinleck, Richard H. (Dick) 0.037 0.01% 0.037 0.01% 0.037 0.01% 0.037 0.01%
Chairman. - Shares - Amt $1.343 $1.539 $1.406 $1.544
Options - percentage 0.109 0.02% 0.121 0.02% 0.133 0.02% 0.153 0.03%
Options - amount $4.000 $5.070 $5.080 $6.432
Increase in O/S Shares 2.687 0.43% 1.447 0.24% 0.886 0.15%
due to SO $98.228 $60.624 $33.890
Book Value $20.000 $11.000 $7.000
Insider Buying -$0.037 -$4.298
Insider Selling $0.972 $9.091
Net Insider Selling $1.924 $0.934 $4.793
% of Market Cap 0.01% 0.00% 0.02%
Directors 2013 13 14 14 12
Women 1 8% 2 14% 3 21% 3 25%
Minorities 1 8% 1 7% 1 7% 1 8%
Institutions/Holdings 368 65.05% 412 455 57.93%
Total Shares Held 51.884 7.96% 420.012 67.37% 404.271 343.723 57.84%
Increase/Decrease 3 Mths 1.850 3.44% 0.046 0.01% -4.926 -4.213 -1.21%
Starting No. of Shares 53.734 419.965 409.197 347.937 Reuters
Institutions/Holdings 65.68% 605 56.71% 592 53.59%
Total Shares Held 66.38% 343.089 57.73% 317.104 53.36%
Increase/Decrease 3 Mths -1.20% -1.704 -0.49% -1.890 -0.59%
Starting No. of Shares 344.793 Nasdaq 318.994 Nasdaq
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