This report should not be construed as providing investment advice. It is for educational purposes only.  Before making any investment decision, you should always do your own research or consult a investment professional.
While I try to be accurate, I assume no responsibility for any figure in this spreadsheet. Estimates Estimates Estimates
See my website on stocks or see my blog at the following sites.  www.spbrunner.com/stocks.html www.spbrunner.blogspot.com/ Q1 2017
TFI International Inc. TSX: TFII OTC: TFIFF http://tfiintl.com/en/home/ Fiscal Yr: Dec 31
Year 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 12/31/19 Value Description #Y Item
Accounting Rules IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS
Chge in Reporting date
$3,942.2 <-12 mths 6.42%
Revenue* $1,516.1 $1,794.8 $1,940.1 $2,261.9 $1,846.5 $2,002.1 $2,690.5 $3,140.3 $3,109.6 $3,714.7 $4,029.9 $3,704.5 $4,723 $4,814 $5,027 106.40% <-Total Growth 10 Revenue
Increase 35.34% 18.39% 8.10% 16.59% -18.36% 8.43% 34.38% 16.72% -0.97% 19.46% 8.49% -8.07% 27.49% 1.93% 4.42% 7.52% <-IRR #YR-> 10 Revenue 106.40%
5 year Running Average $857.1 $1,126.1 $1,425.0 $1,726.7 $1,871.9 $1,969.1 $2,148.3 $2,388.3 $2,557.8 $2,931.4 $3,337.0 $3,539.8 $3,856 $4,197 $4,460 6.61% <-IRR #YR-> 5 Revenue 37.69%
Revenue per Share $19.84 $20.68 $22.35 $26.06 $19.39 $21.00 $28.15 $33.85 $33.29 $36.30 $41.28 $40.45 $51.58 $52.57 $54.89 12.14% <-IRR #YR-> 10 5 yr Running Average 214.35%
Increase 25.66% 4.25% 8.10% 16.59% -25.62% 8.34% 34.06% 20.23% -1.65% 9.04% 13.70% -1.99% 27.49% 1.93% 4.42% 10.50% <-IRR #YR-> 5 5 yr Running Average 64.78%
5 year Running Average $13.74 $15.40 $18.09 $20.94 $21.66 $21.90 $23.39 $25.69 $27.14 $30.52 $34.58 $37.03 $40.58 $44.44 $48.15 6.94% <-IRR #YR-> 10 Revenue per Share 95.61%
P/S (Price/Sales) Med 0.80 0.77 0.54 0.24 0.29 0.50 0.46 0.49 0.68 0.73 0.64 0.68 7.52% <-IRR #YR-> 5 Revenue per Share 43.68%
P/S (Price/Sales) Close 0.86 0.65 0.41 0.16 0.43 0.60 0.46 0.59 0.76 0.82 0.57 0.86 0.55 0.53 0.62 9.17% <-IRR #YR-> 10 5 yr Running Average 140.46%
*Revenue in M CDN $ (including Fuel Surcharge) P/S Med 10 yr  0.52 5 yr  0.68 4.56% Diff M/C 9.62% <-IRR #YR-> 5 5 yr Running Average 58.32%
-$1,794.8 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $3,704.5
-$2,690.5 $0.0 $0.0 $0.0 $0.0 $3,704.5
-$1,126.1 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $3,539.8
-$2,148.3 $0.0 $0.0 $0.0 $0.0 $3,539.8
-$20.68 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $40.45
-$28.15 $0.00 $0.00 $0.00 $0.00 $40.45
$1.64 <-12 mths 0.00%
Adjusted Earnings Basic $2.06 $1.78 $0.52 $0.92 $0.62 $1.08 $1.07 $1.63 $1.10 $1.54 $1.45 $1.68 52.73% <-Total Growth 10 Adj Earnings Basic Continuing  Operations
Increase -13.59% -70.79% 76.92% -32.61% 74.19% -0.93% 52.34% -32.52% 40.00% -5.84% 15.86% in 2015
Adjusted Earnings Diluted $2.00 $1.78 $0.52 $0.92 $0.65 $1.07 $1.06 $1.55 $1.08 $1.51 $1.43 $1.64 $2.05 $2.20 $2.93 51.85% <-Total Growth 10 Adj Earnings Diluted
Increase -11.00% -70.79% 76.92% -29.35% 64.62% -0.93% 46.23% -30.32% 39.81% -5.30% 14.69% 25.00% 7.32% 33.18% -0.82% <-IRR #YR-> 10 Earnings per Share -7.87%
Earnings Yield 11.7% 13.2% 5.6% 22.2% 7.7% 8.5% 8.2% 7.8% 4.3% 5.1% 6.1% 4.7% 7.3% 7.8% 8.6% 9.12% <-IRR #YR-> 5 Earnings per Share 54.72%
5 year Running Average $1.17 $0.99 $0.84 $1.05 $1.08 $1.25 $1.33 $1.44 $1.54 $1.77 $2.05 6.50% <-IRR #YR-> 6 5 yr Running Average #DIV/0!
Payout Ratio 63.94% 83.99% 302.88% 88.32% 61.54% 37.38% 40.57% 31.61% 48.15% 38.41% 47.55% 41.46% 37.07% -11.47% <-IRR #YR-> 5 5 yr Running Average 70.85%
5 year Running Average 112.35% 103.27% 87.29% 49.50% 41.40% 38.60% 40.72% 40.92% 41.76% 45.45% <-Median-> 8 Payout 5 yr Running Average
Price/AEPS Median 7.91 8.98 23.20 6.79 8.71 9.87 12.18 10.79 20.81 17.47 18.45 16.77 10.63 14.48 <-Median-> 10 Price/AEPS Median
Price/AEPS High 9.10 10.89 29.08 9.78 13.08 12.12 14.84 12.75 23.56 19.91 21.71 21.58 17.45 17.37 <-Median-> 10 Price/AEPS High
Price/AEPS Low 6.73 7.07 17.33 3.79 4.34 7.62 9.53 8.84 18.07 15.04 15.20 11.96 13.71 10.74 <-Median-> 10 Price/AEPS Low
Price/AEPS Close 8.53 7.58 17.77 4.51 12.92 11.74 12.22 12.81 23.39 19.60 16.51 21.33 13.71 14.72 <-Median-> 10 Price/AEPS Close
Trailing P/AEPS Close #DIV/0! 6.75 5.19 7.98 9.13 19.32 12.10 18.74 16.30 27.40 15.64 24.46 17.14 15.97 <-Median-> 10 Trailing P/AEPS Close
* from 2009 Adjusted ESP Before Impairment, Fr 2015 continuing operations. DPR 10 Yrs 44.51% 5 Yrs   41.46% P/CF 5 Yrs   in order 17.47 21.58 15.04 19.60 -21.53% Diff M/C -5.28% Diff M/C 10
$1.63 <-12 mths -75.75%
EPS Basic $2.06 $1.78 $0.52 $0.92 $0.12 $1.10 $1.07 $1.63 $0.67 $1.29 $1.63 $6.83 283.71% <-Total Growth 10 EPS Basic
EPS Diluted* $2.00 $1.78 $0.52 $0.92 $0.12 $1.09 $1.06 $1.55 $0.66 $1.26 $1.60 $6.70 $2.05 $2.20 $2.93 276.40% <-Total Growth 10 EPS Diluted
Increase 72.41% -11.00% -70.79% 76.92% -86.96% 808.33% -2.75% 46.23% -57.42% 90.91% 26.98% 318.75% -69.40% 7.32% 33.18% 14.17% <-IRR #YR-> 10 Earnings per Share 276.40%
Earnings Yield 11.7% 13.2% 5.6% 22.2% 1.4% 8.7% 8.2% 7.8% 2.6% 4.3% 6.8% 19.2% 7.3% 7.8% 8.6% 44.60% <-IRR #YR-> 5 Earnings per Share 532.08%
5 year Running Average $0.92 $1.21 $1.24 $1.28 $1.07 $0.89 $0.74 $0.95 $0.90 $1.12 $1.23 $2.35 $2.45 $2.76 $3.10 6.85% <-IRR #YR-> 10 5 yr Running Average 93.90%
10 year Running Average $0.74 $0.83 $0.82 $0.90 $0.98 $1.09 $1.09 $1.10 $1.06 $1.55 $1.70 $1.83 $2.11 25.97% <-IRR #YR-> 5 5 yr Running Average 217.25%
* Diluted ESP per share  E/P 10 Yrs 7.29% 5Yrs 6.78%
-$1.78 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $6.70
-$1.06 $0.00 $0.00 $0.00 $0.00 $6.70
-$1.21 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.35
-$0.74 $0.00 $0.00 $0.00 $0.00 $2.35
Estimates $0.75 $0.85 $1.24 Estimates
Estimates 10.29% 13.33% 45.88% Estimates
Comments Comments
Special Dividends $0.62 $0.35 $0.00 $0.07 $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
Dividend* $1.28 $1.50 $1.58 $0.81 $0.40 $0.40 $0.43 $0.49 $0.52 $0.58 $0.68 $0.68 $0.76 $0.76 $0.76 -54.52% <-Total Growth 10 Dividends
Increase 10.00% 16.91% 5.35% -48.41% -50.77% 0.00% 7.50% 13.95% 6.12% 11.54% 17.24% 0.00% 11.76% 0.00% 0.00% Count 15 Years of data
Dividends 5 Yr Running $1.44 $1.52 $1.47 $1.32 $1.02 $0.74 $0.52 $0.45 $0.48 $0.54 $0.59 $0.64 $0.69 $0.73 -61.28% <-Total Growth 10 Dividends 5 Yr Running
Yield H/L Price 8.08% 9.35% 13.05% 13.01% 7.07% 3.79% 3.33% 2.93% 2.31% 2.20% 2.58% 2.47% 3.49% 3.13% <-Median-> 10 Yield H/L Price
Yield on High  Price 7.03% 7.71% 10.42% 9.03% 4.71% 3.08% 2.73% 2.48% 2.04% 1.93% 2.19% 1.92% 2.12% 2.61% <-Median-> 10 Yield on High  Price
Yield on Low Price 9.51% 11.88% 17.48% 23.28% 14.18% 4.91% 4.26% 3.58% 2.66% 2.55% 3.13% 3.47% 2.70% 3.92% <-Median-> 10 Yield on Low Price
Yield on Close Price 7.50% 11.08% 17.05% 19.58% 4.76% 3.18% 3.32% 2.47% 2.06% 1.96% 2.88% 1.94% 2.70% 2.70% 2.24% 3.03% <-Median-> 10 Yield on Close Price
Payout Ratio EPS 94.69% 103.80% 302.88% 95.52% 333.33% 36.70% 40.57% 31.61% 78.79% 46.03% 42.50% 10.15% 37.07% 34.55% 25.94% 44.27% <-Median-> 10 DPR EPS
DPR EPS 5 Yr Running 118.35% 123.28% 115.32% 123.51% 115.16% 99.29% 54.83% 50.00% 43.06% 44.05% 25.06% 26.24% 25.05% 23.51% 77.06% <-Median-> 10 DPR EPS 5 Yr Running
Payout Ratio CFPS 87.68% 80.61% 64.97% 36.74% 18.16% 19.03% 17.40% 14.68% 20.60% 19.46% 15.62% 18.52% 20.65% #DIV/0! #DIV/0! 18.77% <-Median-> 10 DPR CF
DPR CF 5 Yr Running 88.40% 76.98% 65.85% 57.50% 44.70% 31.78% 20.78% 17.72% 18.04% 17.23% 17.49% 18.71% #DIV/0! #DIV/0! 26.28% <-Median-> 10 DPR CF 5 Yr Running
Payout Ratio CFPS WC 83.09% 77.03% 68.62% 34.87% 19.92% 14.33% 13.03% 11.67% 14.69% 14.63% 13.39% 14.10% 20.65% #DIV/0! #DIV/0! 14.48% <-Median-> 10 DPR CF WC
DPR CF WC 5 Yr Running 84.77% 76.69% 65.34% 57.35% 42.46% 28.53% 17.54% 14.14% 13.60% 13.44% 13.65% 15.27% #DIV/0! #DIV/0! 23.03% <-Median-> 10 DPR CF WC 5 Yr Running
Median Values 5 Yr Med 5 Yr Cl 2.47% 2.06% 5 Yr Med Payout 42.50% 18.52% 14.10% -7.58% <-IRR #YR-> 10 Dividends -54.52%
* Dividends per share  5 Yr Med and Cur. 9.34% 31.34% Last Div Inc ---> $0.145 $0.170 17.2% 9.60% <-IRR #YR-> 5 Dividends 58.14%
-$1.50 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.68
-$0.43 $0.00 $0.00 $0.00 $0.00 $0.68
Historical Dividends Historical High Div 20.38% Low Div 1.93% Ave Div 11.16% Med Div 5.43% Close Div 4.04% Historical Dividends
High/Ave/Median Values Curr diff Exp. -86.73%     40.09% Exp. -75.76% Exp. -50.21% Exp. -33.10% High/Ave/Median 
Historical Dividends Historical High Div 5.10% Low Div 0.48% Ave Div 2.79% Med Div 1.36% Close Div 1.01% reduced by 75% Historical Dividends
High/Ave/Median Values Curr diff Exp. -46.93%     460.34% #DIV/0! -3.05% #DIV/0! 99.16% #DIV/0! 167.61% High/Ave/Median 
Future Dividend Yield Div Yd 4.16% earning in 5 Years at IRR of 9.00% Div Inc. 53.86% Future Dividend Yield
Future Dividend Yield Div Yd 6.40% earning in 10 Years at IRR of 9.00% Div Inc. 136.74% Future Dividend Yield
Future Dividend Yield Div Yd 9.85% earning in 15 Years at IRR of 9.00% Div Inc. 264.25% Future Dividend Yield
H/LYield held 5 yrs 59.62% 66.00% 28.58% 9.68% 3.21% 2.53% 2.69% 4.06% 8.33% 10.25% 6.44% 5.27% 4.54% 3.38% 2.88% 5.85% <-Median-> 10 Paid Median Price
H/LYield held 10 yrs 131.09% 241.13% 177.46% 36.52% 15.97% 18.65% 18.98% 8.89% 6.19% 4.65% 4.30% 4.25% 6.30% 12.17% 13.43% 12.43% <-Median-> 10 Paid Median Price
H/LYield held 15 yrs 98.75% 104.18% 108.25% 72.42% 38.97% 41.00% 69.35% 55.21% 23.37% 23.15% 31.70% 30.02% 13.79% 9.05% 6.10% 39.99% <-Median-> 10 Paid Median Price
H/LYield held 20 yrs 30.89% 29.97% 33.68% 46.35% 56.50% 69.71% 109.68% 85.63% 34.16% 30.34% 46.35% <-Median-> 7 Paid Median Price
H/LYield held 25 yrs 52.51% 47.39% 52.23% 67.74% 74.04% 49.95% <-Median-> 2 Paid Median Price
Cost covered if held 5 years 248.78% 317.17% 138.27% 87.64% 52.91% 32.24% 23.05% 21.54% 35.87% 42.76% 25.57% 22.84% 19.25% 15.39% 13.80% 34.05% <-Median-> 10 Paid Median Price
Cost covered if held 10 years 547.03% 1159% 986.92% 433.16% 400.71% 486.61% 479.81% 185.44% 114.33% 72.32% 49.30% 41.50% 48.23% 91.27% 107.07% 293.07% <-Median-> 10 Paid Median Price
Cost covered if held 15 years 412.07% 500.62% 601.99% 858.98% 977.86% 1069.98% 1753% 1279.74% 533.83% 497.31% 612.48% 610.05% 243.88% 155.54% 101.53% 735.73% <-Median-> 10 Paid Median Price
Cost covered if held 20 years 806.00% 757.33% 780.60% 1058.62% 1213.61% 1346.77% 2228.66% 1642.56% 689.33% 642.62% 1058.62% <-Median-> 7 Paid Median Price
Cost covered if held 25 years 1014.49% 962.91% 1001.90% 1367.00% 1568.21% 988.70% <-Median-> 2 Paid Median Price
Graham No. $15.27 $16.35 $8.15 $11.03 $3.89 $12.54 $13.07 $16.54 $11.21 $16.89 $19.46 $49.00 $27.11 $28.08 $32.40 199.72% <-Total Growth 10 Graham Price
Price/GP Ratio Med 1.04 0.98 1.48 0.57 1.46 0.84 0.99 1.01 2.00 1.56 1.36 0.56 0.80 1.18 <-Median-> 10 Price/GP Ratio
Price/GP Ratio High 1.19 1.19 1.86 0.82 2.19 1.03 1.20 1.19 2.27 1.78 1.60 0.72 1.32 1.40 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Low 0.88 0.77 1.11 0.32 0.73 0.65 0.77 0.83 1.74 1.34 1.12 0.40 1.04 0.80 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Close 1.12 0.83 1.13 0.38 2.16 1.00 0.99 1.20 2.25 1.75 1.21 0.71 1.04 1.00 1.05 1.17 <-Median-> 10 Price/GP Ratio
Prem/Disc Close 11.73% -17.49% 13.40% -62.37% 116.03% 0.14% -0.93% 20.10% 125.28% 75.21% 21.30% -28.62% 3.71% 0.11% 4.92% 16.75% <-Median-> 10 Graham Price
Month, Year Dec-05 Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19
Price Close $17.06 $13.49 $9.24 $4.15 $8.40 $12.56 $12.95 $19.86 $25.26 $29.59 $23.61 $34.98 $28.11 $28.11 $34.00 159.30% <-Total Growth 10 Stock Price
Increase 12.02% -20.93% -31.50% -55.09% 102.41% 49.52% 3.11% 53.36% 27.19% 17.14% -20.21% 48.16% -19.64% 0.00% 20.95% 10.00% <-IRR #YR-> 10 Stock Price 159.30%
P/E 8.53 7.58 17.77 4.51 70.00 11.52 12.22 12.81 38.27 23.48 14.76 5.22 13.71 12.78 11.60 21.99% <-IRR #YR-> 5 Stock Price 170.12%
Trailing P/E 14.71 6.75 5.19 7.98 9.13 104.67 11.88 18.74 16.30 44.83 18.74 21.86 4.20 13.71 15.45 13.75% <-IRR #YR-> 10 Price & Dividend
Median 10, 5 Yrs D.  per yr 3.75% 3.09% % Tot Ret 27.30% 12.31% T P/E 18.74 P/E:  13.78 14.76 25.07% <-IRR #YR-> 5 Price & Dividend
Count 27 Years of data
-$13.49 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $34.98
-$12.95 $0.00 $0.00 $0.00 $0.00 $34.98
-$13.49 $1.58 $0.88 $0.40 $0.40 $0.43 $0.49 $0.52 $0.58 $0.68 $35.66
-$12.95 $0.49 $0.52 $0.58 $0.68 $35.66
Price H/L Median $15.83 $15.99 $12.07 $6.25 $5.66 $10.56 $12.92 $16.73 $22.48 $26.39 $26.39 $27.50 $21.79 20.95% 72.04% <-Total Growth 10 Stock Price
Increase 26.96% 1.01% -24.52% -48.24% -9.37% 86.57% 22.30% 29.54% 34.37% 17.37% 0.02% 4.21% -20.76% 2.70% 5.58% <-IRR #YR-> 10 Stock Price 72.04%
P/E 7.91 8.98 23.20 6.79 47.17 9.69 12.18 10.79 34.06 20.94 16.49 4.10 10.63 23.66% 16.32% <-IRR #YR-> 5 Stock Price 112.93%
Trailing P/E 13.64 7.99 6.78 12.01 6.15 88.00 11.85 15.78 14.50 39.98 20.94 17.19 3.25 9.08% <-IRR #YR-> 10 Price & Dividend
P/E on Run. 5 yr Ave 17.20 13.17 9.76 4.89 5.30 11.92 17.41 17.65 25.09 23.47 21.53 11.68 8.88 19.69% <-IRR #YR-> 5 Price & Dividend
P/E on Run. 10 yr Ave 16.22 7.54 6.89 11.69 13.21 15.32 20.70 24.07 24.99 17.76 12.81 10.79 P/E Ratio Historical Median
Median 10, 5 Yrs D.  per yr 3.51% 3.37% % Tot Ret 38.61% 17.12% T P/E 17.19 P/E:  14.34 16.49 Count 27 Years of data
-$15.99 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $27.50
-$12.92 $0.00 $0.00 $0.00 $0.00 $27.50
-$15.99 $1.58 $0.81 $0.40 $0.40 $0.43 $0.49 $0.52 $0.58 $0.68 $28.18
-$12.92 $0.49 $0.52 $0.58 $0.68 $28.18
High Months Feb Feb May Aug Dec Dec Jun Dec Dec Nov Mar Dec Jan
Price High $18.20 $19.39 $15.12 $9.00 $8.50 $12.97 $15.73 $19.76 $25.44 $30.06 $31.05 $35.39 $35.78 82.52% <-Total Growth 10 Stock Price
Increase 16.82% 6.54% -22.02% -40.48% -5.56% 52.59% 21.28% 25.62% 28.74% 18.16% 3.29% 13.98% 1.10% 6.20% <-IRR #YR-> 10 Stock Price 82.52%
P/E 9.10 10.89 29.08 9.78 70.83 11.90 14.84 12.75 38.55 23.86 19.41 5.28 17.45 17.61% <-IRR #YR-> 5 Stock Price 124.98%
Trailing P/E 15.69 9.70 8.49 17.31 9.24 108.08 14.43 18.64 16.41 45.55 24.64 22.12 5.34 13.43 P/E Ratio Historical Median
Median 10, 5 Yrs T P/E 22.12 P/E:  17.12 19.41 26.99 P/E Ratio Historical High
-$19.39 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $35.39
-$15.73 $0.00 $0.00 $0.00 $0.00 $35.39
Low Months Oct Dec Dec Dec Mar Feb Oct Jan May Mar Aug Feb May
Price Low $13.45 $12.58 $9.01 $3.49 $2.82 $8.15 $10.10 $13.70 $19.52 $22.71 $21.73 $19.61 $28.11 55.88% <-Total Growth 10 Stock Price
Increase 43.85% -6.47% -28.38% -61.27% -19.20% 189.01% 23.93% 35.64% 42.48% 16.34% -4.32% -9.76% 43.35% 4.54% <-IRR #YR-> 10 Stock Price 55.88%
P/E 6.73 7.07 17.33 3.79 23.50 7.48 9.53 8.84 29.58 18.02 13.58 2.93 13.71 14.19% <-IRR #YR-> 5 Stock Price 94.16%
Trailing P/E 11.59 6.29 5.06 6.71 3.07 67.92 9.27 12.92 12.59 34.41 17.25 12.26 4.20 8.06 P/E Ratio Historical Median
Median 10, 5 Yrs T P/E 12.92 P/E:  11.55 13.58 4.55 P/E Ratio Historical Low
-$12.58 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $19.61
Long Term Debt $1,617.74 $1,615.10 $1,584.82 Debt
Change -0.16% -1.88% Change
Debt/Market Cap Ratio 0.53 0.70 0.49 0.53 <-Median-> 3 Debt/Market Cap Ratio
Goodwill & Intangibles $181.18 $373.36 $468.45 $564.52 $565.90 $605.39 $856.17 $865.80 $850.71 $1,597.70 $1,562.50 $1,989.65 Intangibles Goodwill
Change 49.11% 106.07% 25.47% 20.51% 0.24% 6.98% 41.42% 1.12% -1.74% 87.81% -2.20% 27.34% Change
Intangible/Market Cap Ratio 0.14 0.32 0.58 1.57 0.71 0.51 0.69 0.47 0.36 0.53 0.68 0.62 0.60 <-Median-> 10 Intangible/Market Cap Ratio
Market Cap $1,304 $1,171 $802 $360 $800 $1,197 $1,238 $1,842 $2,359 $3,028 $2,305 $3,203 $2,574 $2,574 $3,114 173.60% <-Total Growth 10 Market Cap 173.60%
Diluted 75.260 84.744 85.853 86.790 90.037 95.875 105.225 107.546 94.209 101.366 101.994 95.520 95.520 12.72% <-Total Growth 10 Diluted
Change 12.63% 12.60% 1.31% 1.09% 3.74% 6.48% 9.75% 2.21% -12.40% 7.60% 0.62% -6.35% 0.00% 1.76% <-Median-> 10 Change
Average # of Sh in Million 71.505 84.726 85.853 86.790 90.037 95.277 95.420 94.757 92.589 99.437 100.206 93.709 10.60% <-Total Growth 10 Average
Change 7.04% 18.49% 1.33% 1.09% 3.74% 5.82% 0.15% -0.70% -2.29% 7.40% 0.77% -6.48% 0.93% <-Median-> 10 Change
Difference 6.9% 2.4% 1.1% 0.0% 5.8% 0.1% 0.1% -2.1% 0.9% 2.9% -2.6% -2.3% 0.10% <-Median-> 10 Difference
$346.29 <-12 mths 2.98%
# of Share in Millions 76.426 86.790 86.790 86.790 95.254 95.328 95.562 92.767 93.405 102.324 97.633 91.575 91.575 91.575 91.575 0.54% <-IRR #YR-> 10 Shares 5.51%
Change 7.70% 13.56% 0.00% 0.00% 9.75% 0.08% 0.24% -2.92% 0.69% 9.55% -4.58% -6.20% 0.00% 0.00% 0.00% -0.85% <-IRR #YR-> 5 Shares -4.17%
CF fr Op $M $165.1 $198.9 $210.4 $207.6 $209.8 $200.4 $236.2 $309.6 $235.8 $305.0 $424.9 $336.3 $337.0 69.05% <-Total Growth 10 Cash Flow
Increase 22.11% 20.51% 5.77% -1.35% 1.08% -4.49% 17.86% 31.10% -23.85% 29.35% 39.32% -20.86% 0.21% S Issued Buy Backs, SO
5 year Running Average $91.0 $120.6 $156.2 $183.4 $198.4 $205.4 $212.9 $232.7 $238.4 $257.4 $302.3 $322.3 $327.8 167.17% <-Total Growth 10 CF 5 Yr Running
CFPS $2.16 $2.29 $2.42 $2.39 $2.20 $2.10 $2.47 $3.34 $2.52 $2.98 $4.35 $3.67 $3.68 60.21% <-Total Growth 10 Cash Flow per Share
Increase 13.38% 6.12% 5.77% -1.35% -7.90% -4.56% 17.57% 35.05% -24.37% 18.08% 46.02% -15.63% 0.21% 5.39% <-IRR #YR-> 10 Cash Flow 69.05%
5 year Running Average $1.44 $1.63 $1.98 $2.23 $2.29 $2.28 $2.32 $2.50 $2.53 $2.68 $3.13 $3.37 $3.44 7.32% <-IRR #YR-> 5 Cash Flow 42.39%
P/CF on Med Price 7.33 6.97 4.98 2.61 2.57 5.02 5.23 5.01 8.91 8.85 6.06 7.49 4.83% <-IRR #YR-> 10 Cash Flow per Share 60.21%
P/CF on Closing Price 7.90 5.89 3.81 1.74 3.81 5.97 5.24 5.95 10.01 9.93 5.42 9.53 7.64 8.24% <-IRR #YR-> 5 Cash Flow per Share 48.58%
49.06% Diff M/C 7.58% <-IRR #YR-> 10 CFPS 5 yr Running 107.55%
Excl.Working Capital CF $9.1 $9.3 -$11.2 $11.1 -$18.6 $65.8 $79.1 $80.0 $94.7 $100.8 $70.9 $105.3 $0.0 7.79% <-IRR #YR-> 5 CFPS 5 yr Running 45.50%
CF fr Op $M WC $174.2 $208.2 $199.2 $218.7 $191.2 $266.2 $315.3 $389.6 $330.5 $405.8 $495.8 $441.6 $337.0 112.12% <-Total Growth 10 Cash Flow less WC
Increase 38.86% 19.52% -4.31% 9.80% -12.56% 39.18% 18.45% 23.58% -15.16% 22.77% 22.19% -10.94% -23.68% 7.81% <-IRR #YR-> 10 Cash Flow less WC 112.12%
5 year Running Average $91.4 $125.2 $156.7 $185.1 $198.3 $216.7 $238.1 $276.2 $298.6 $341.5 $387.4 $412.7 $402.1 6.97% <-IRR #YR-> 5 Cash Flow less WC 40.06%
CFPS Excl. WC $2.28 $2.40 $2.30 $2.52 $2.01 $2.79 $3.30 $4.20 $3.54 $3.97 $5.08 $4.82 $3.68 12.67% <-IRR #YR-> 10 CF less WC 5 Yr Run 229.67%
Increase 28.92% 5.24% -4.31% 9.80% -20.33% 39.07% 18.16% 27.30% -15.74% 12.07% 28.06% -5.05% -23.68% 11.63% <-IRR #YR-> 5 CF less WC 5 Yr Run 73.31%
5 year Running Average $1.43 $1.69 $1.99 $2.25 $2.30 $2.40 $2.58 $2.96 $3.17 $3.56 $4.02 $4.32 $4.22 7.23% <-IRR #YR-> 10 CFPS - Less WC 101.03%
P/CF on Med Price 6.94 6.66 5.26 2.48 2.82 3.78 3.91 3.98 6.35 6.65 5.20 5.70 7.89% <-IRR #YR-> 5 CFPS - Less WC 46.16%
P/CF on Close 7.49 5.62 4.03 1.65 4.18 4.50 3.93 4.73 7.14 7.46 4.65 7.25 7.64 9.81% <-IRR #YR-> 10 CFPS 5 yr Running 154.93%
*Operational Cash Flow per share CF/-WC P/CF Med 10 yr 5.12 5 yr  7.49 P/CF Med 10 yr 4.59 5 yr  5.70 66.42% Diff M/C 10.84% <-IRR #YR-> 5 CFPS 5 yr Running 67.30%
-$2.29 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.67 Cash Flow per Share
-$2.47 $0.00 $0.00 $0.00 $0.00 $3.67 Cash Flow per Share
-$1.63 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.37 CFPS 5 yr Running
-$2.32 $0.00 $0.00 $0.00 $0.00 $3.37 CFPS 5 yr Running
-$208.2 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $441.6 Cash Flow less WC
-$315.3 $0.0 $0.0 $0.0 $0.0 $441.6 Cash Flow less WC
-$125.2 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $412.7 CF less WC 5 Yr Run
-$238.1 $0.0 $0.0 $0.0 $0.0 $412.7 CF less WC 5 Yr Run
-$2.40 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $4.82 CFPS - Less WC
-$3.30 $0.00 $0.00 $0.00 $0.00 $4.82 CFPS - Less WC
OPM 10.89% 11.08% 10.85% 9.18% 11.36% 10.01% 8.78% 9.86% 7.58% 8.21% 10.54% 9.08% -18.10% <-Total Growth 10 OPM
Increase -9.77% 1.80% -2.15% -15.38% 23.81% -11.91% -12.30% 12.32% -23.10% 8.28% 28.42% -13.91% Should increase  or be stable.
Diff from Median 14.4% 16.4% 13.9% -3.6% 19.4% 5.2% -7.8% 3.6% -20.3% -13.7% 10.8% -4.6% 0.00 <-Median-> 10 OPM
*Operational Profit Margin (CF/Revenue) Ratio OPM 10 Yrs 9.52% 5 Yrs 9.08% should be  zero, it is a   check on calculations
Current Assets $271.09 $295.30 $309.97 $330.57 $281.57 $310.82 $438.81 $442.94 $472.32 $635.95 $818.41 $634.06 Liquidity ratio of 1.5 and up, best
Current Liabilities $354.70 $250.04 $266.58 $309.56 $608.05 $247.61 $341.55 $367.98 $339.58 $763.11 $1,068.33 $577.14 1.13 <-Median-> 10 Ratio
Liquidity Ratio 0.76 1.18 1.16 1.07 0.46 1.26 1.28 1.20 1.39 0.83 0.77 1.10 1.10 <-Median-> 5 Ratio
Liq. with CF aft div 0.82 1.34 1.44 1.49 0.75 1.91 1.86 1.92 1.94 1.16 1.10 1.57 1.57 <-Median-> 5 Ratio
Liq. CF re  Inv+Div  0.63 0.62 0.70 0.96 0.64 1.34 0.84 1.38 1.55 0.56 1.01 1.41 1.38 <-Median-> 5 Ratio
Curr Long Term Db $97.981 $35.758 $35.003 $69.028 $403.763 $12.244 $0.000 $20.509 $20.849 $294.887 $559.135 $40.498 1.35 <-Median-> 10 Ratio
Liquidity Less CLTD 1.06 1.38 1.34 1.37 1.38 1.32 1.28 1.27 1.48 1.36 1.61 1.18 1.36 <-Median-> 5 Ratio
Liq. with CF aft div 1.14 1.56 1.66 1.92 2.22 2.01 1.86 2.03 2.07 1.88 2.31 1.69 2.03 <-Median-> 5 Ratio
Assets $916.9 $1,215.7 $1,442.5 $1,621.9 $1,525.7 $1,623.6 $2,100.4 $2,114.1 $2,064.6 $3,438.6 $3,377.9 $4,071.3 Debt Ratio of 1.5 and up, best
Liabilities $519.4 $634.4 $947.5 $1,112.1 $992.2 $1,012.1 $1,415.8 $1,386.8 $1,273.8 $2,409.2 $2,350.5 $2,612.6 1.52 <-Median-> 10 Ratio
Debt Ratio 1.77 1.92 1.52 1.46 1.54 1.60 1.48 1.52 1.62 1.43 1.44 1.56 1.52 <-Median-> 5 Ratio
Check Book Value $397.5 $581.3 $495.1 $509.9 $533.4 $611.5
Book Value $397.5 $581.3 $495.1 $509.9 $533.4 $611.5 $684.6 $727.4 $790.8 $1,029.4 $1,027.4 $1,458.7 $1,458.7 $1,458.7 $1,458.7 150.94% <-Total Growth 10 Book Value
NCI & Deb $1.5 $2.0 $2.6 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0
Book Value $396.0 $579.3 $492.5 $509.9 $533.4 $611.5 $684.6 $727.4 $790.8 $1,029.4 $1,027.4 $1,458.7 $1,458.7 $1,458.7 $1,458.7 151.82% <-Total Growth 10 Book Value
Book Value per Share $5.18 $6.67 $5.67 $5.87 $5.60 $6.42 $7.16 $7.84 $8.47 $10.06 $10.52 $15.93 $15.93 $15.93 $15.93 138.66% <-Total Growth 10 Book Value per Share
Change 26.94% 28.81% -14.98% 3.52% -4.67% 14.56% 11.67% 9.45% 7.98% 18.82% 4.60% 51.37% 0.00% 0.00% 0.00% -10.16% P/B Ratio Current/10 Year Median
P/B Ratio (Median) 3.05 2.40 2.13 1.06 1.01 1.65 1.80 2.13 2.66 2.62 2.51 1.73 2.13 P/B Ratio Historical Median
P/B Ratio (Close) 3.29 2.02 1.63 0.71 1.50 1.96 1.81 2.53 2.98 2.94 2.24 2.20 1.76 1.76 2.13 9.09% <-IRR #YR-> 10 Book Value 138.66%
Change -11.75% -38.61% -19.44% -56.61% 112.33% 30.53% -7.67% 40.12% 17.79% -1.42% -23.72% -2.12% -19.64% 0.00% 20.95% 17.33% <-IRR #YR-> 5 Book Value 122.34%
Leverage (A/BK) 2.31 2.09 2.91 3.18 2.86 2.65 3.07 2.91 2.61 3.34 3.29 2.79 2.91 <-Median-> 10 A/BV
Debt/Equity Ratio 1.31 1.09 1.91 2.18 1.86 1.65 2.07 1.91 1.61 2.34 2.29 1.79 1.91 <-Median-> 10 Debt/Eq Ratio
Sharerholders Equity (Assets less liabilities) P/BV 10 yr Med 1.96 5 yr Med 2.51 -10.16% Diff M/C 2.91 Historical Leverage (A/BK)
-$6.67 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $15.93
-$7.16 $0.00 $0.00 $0.00 $0.00 $15.93
$160.51 <-12 mths -75.12%
Comprehensive Income $44.81 $79.68 $10.93 $104.59 $100.82 $144.18 $96.86 $129.05 $180.99 $645.16 1339.77% <-Total Growth 9 Comprehensive Income
Increase 77.81% -86.28% 857.01% -3.61% 43.02% -32.82% 33.24% 40.25% 256.46% 40.25% <-Median-> 5 Comprehensive Income
5 Yr Running Average $68 $88 $91 $115 $130 $239 34.49% <-IRR #YR-> 9 Comprehensive Income #DIV/0!
ROE 9.1% 15.6% 2.0% 17.1% 14.7% 19.8% 12.2% 12.5% 17.6% 44.2% 44.95% <-IRR #YR-> 5 Comprehensive Income 539.95%
5Yr Median 14.7% 15.6% 14.7% 14.7% 14.7% 17.6% 28.55% <-IRR #YR-> 5 5 Yr Running Average #DIV/0!
% Difference from NI 0.0% 0.0% 0.0% 0.0% -1.4% -6.5% 55.3% 0.9% 10.7% 0.9% 28.55% <-IRR #YR-> 5 5 Yr Running Average 250.98%
Median Values Diff 5, 10 yr 0.0% 0.9% 17.6% <-Median-> 5 Return on Equity
-$44.8 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $645.2
-$100.8 $0.0 $0.0 $0.0 $0.0 $645.2
-$68.2 $0.0 $0.0 $0.0 $0.0 $239.2
-$68.2 $0.0 $0.0 $0.0 $0.0 $239.2
Current Liability Coverage Ratio 0.49 0.83 0.75 0.71 0.31 1.07 0.92 1.06 0.97 0.53 0.46 0.77   CFO / Current Liabilities
5 year Median 0.49 0.55 0.67 0.71 0.71 0.75 0.75 0.92 0.97 0.97 0.92 0.77 0.77 <-Median-> 5 Current Liability Cov Ratio
Asset Efficiency Ratio 19.00% 17.12% 13.81% 13.48% 12.53% 16.39% 15.01% 18.43% 16.01% 11.80% 14.68% 10.85% CFO / Total Assets
5 year Median 18.11% 18.11% 18.11% 17.12% 13.81% 13.81% 13.81% 15.01% 16.01% 16.01% 15.01% 14.68% 14.7% <-Median-> 5 Return on Assets 
Return on Assets ROA 16.1% 12.4% 3.1% 4.9% 0.7% 6.4% 4.9% 7.3% 3.0% 3.7% 4.8% 15.7% Net  Income/Assets Return on Assets
5Yr Median 10.3% 10.9% 10.9% 10.3% 4.9% 4.9% 4.9% 4.9% 4.9% 4.9% 4.8% 4.8% 4.8% <-Median-> 5 Asset Efficiency Ratio
Return on Equity ROE 37.1% 26.0% 9.1% 15.6% 2.0% 17.1% 14.9% 21.2% 7.9% 12.4% 15.9% 43.8% Net Inc/ Shareholders' equity Return on Equity
5Yr Median 22.3% 22.3% 22.3% 22.3% 15.6% 15.6% 14.9% 15.6% 14.9% 14.9% 14.9% 15.9% 15.9% <-Median-> 5 Return on Equity
$150.01 <-12 mths -76.55%
Adjusted Net Income $151.0 $44.8 $79.7 $10.9 $102.7 $102.2 $154.2 $101.7 $153.7 $145.7 $157.1 $188.0 $218.0 $275.0 4.01% <-Total Growth 10 Net Income
Net Income $147.3 $151.0 $44.8 $79.7 $10.9 $104.6 $102.2 $154.2 $62.4 $127.9 $163.4 $639.6 $188.0 $218.0 $275.0 323.53% <-Total Growth 10 Net Income
Increase 128.18% 2.52% -70.33% 77.81% -86.28% 857.01% -2.27% 50.83% -59.55% 105.14% 27.77% 291.33% -70.61% 15.96% 26.15% EPS/CF Ratio should not be higher than 1.00
5 Yr Running Average $57.6 $85.3 $90.7 $97.5 $86.7 $78.2 $68.4 $90.3 $86.9 $110.3 $122.0 $229.5 $236.3 $267.4 $296.8 15.53% <-IRR #YR-> 10 Net Income 323.53%
Operating Cash Flow $165.1 $198.9 $210.4 $207.6 $209.8 $200.4 $236.2 $309.6 $235.8 $305.0 $424.9 $336.3 44.30% <-IRR #YR-> 5 Net Income 525.69%
Investment Cash Flow -$110.8 -$285.7 -$281.8 -$172.2 -$104.4 -$104.7 -$410.7 -$145.1 -$85.2 -$804.9 -$98.2 -$64.6 10.41% <-IRR #YR-> 10 5 Yr Running Average 169.09%
Total Accruals $93.0 $237.8 $116.2 $44.3 -$94.5 $8.9 $276.8 -$10.4 -$88.3 $627.8 -$163.3 $367.9 27.38% <-IRR #YR-> 5 5 Yr Running Average 235.29%
Total Assets $916.9 $1,215.7 $1,442.5 $1,621.9 $1,525.7 $1,623.6 $2,100.4 $2,114.1 $2,064.6 $3,438.6 $3,377.9 $4,071.3 Balance Sheet Assets
Accruals Ratio 10.15% 19.56% 8.05% 2.73% -6.19% 0.55% 13.18% -0.49% -4.28% 18.26% -4.84% 9.04% -0.49% <-Median-> 5 Ratio
EPS/CF Ratio 0.88 0.74 0.23 0.37 0.06 0.39 0.32 0.37 0.19 0.32 0.32 1.39 0.32 <-Median-> 10 EPS/CF Ratio
-$151.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $639.6
-$102.2 $0.0 $0.0 $0.0 $0.0 $639.6
-$85.3 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $229.5
-$68.4 $0.0 $0.0 $0.0 $0.0 $229.5
Chge in Close 12.02% -20.93% -31.50% -55.09% 102.41% 49.52% 3.11% 53.36% 27.19% 17.14% -20.21% 48.16% -19.64% 0.00% 20.95% Count 22 Years of data
up/down down down down down up down down up down Count 14 63.64%
Meet Prediction? Yes Yes Yes Yes yes % right Count 9 64.29%
Financial Cash Flow -$78.45 $86.79 $71.36 -$35.41 -$105.40 -$95.67 $174.56 -$164.55 -$150.63 $499.93 -$326.77 -$237.98 C F Statement  Financial Cash Flow
Total Accruals $171.48 $151.01 $44.81 $79.68 $10.93 $104.59 $102.22 $154.18 $62.36 $127.92 $163.44 $605.93 Accruals
Accruals Ratio 18.70% 12.42% 3.11% 4.91% 0.72% 6.44% 4.87% 7.29% 3.02% 3.72% 4.84% 14.88% 4.84% <-Median-> 5 Ratio
Cash $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $3.7 Yes, 0 Cash
Cash per Share $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.00 <-Median-> 5 Cash per Share
Percentage of Stock Price 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.11% 0.00% <-Median-> 5 % of Stock Price
Barry Schwartz 17 April 2017
A number of analysts downgraded it for the first quarter.  We saw preannounced lousy results from US truckers recently.  
He thinks that at the end of the day, since they are very good capital allocators, that this will be a gift from the gods.
TransForce owns a portfolio of trucking, package delivery, logistics, waste management, and energy services companies. The courier division—whose operating companies include Loomis, ICS, and 
Canpar—is TransForce’s fastest-growing business and is benefiting from e-commerce growth. “When you buy something online, you have to get it delivered.”
With a forward price-to-earnings multiple of less than 10, the stock recently pulled back and is “starting to create a nice buying opportunity.”
http://www.moneyshow.com/investing/article/1/GI_InvClinic-31196/6-Canadian-Dividend-Stocks-That-Fly-Under-the-Radar/
TransForce owns a portfolio of trucking, package delivery, logistics, waste management, and energy services companies. The courier division—whose operating companies include Loomis, ICS, and Canpar—
is TransForce’s fastest-growing business and is benefiting from e-commerce growth. “When you buy something online, you have to get it delivered.”
With a forward price-to-earnings multiple of less than 10, the stock recently pulled back and is “starting to create a nice buying opportunity.”
Notes: 
May 4, 2017. Last estimates were for 2016, 2017 and 2018 of 4021M, $4628M and $4713M for Revenue, $5.09, $2.41 and $2.63 Adjusted and EPS, $3.37 for CFPS for 2016 and $411M $227M and $245M for Net Income.
TransForce Inc. changed its name and symbol from TransForce Inc. to TFI International and TSX-TFI to TSX-TFII.
November 5, 2016.  Last estimates were for 2015, 2016 and 2017 of $4282M, $4300M and $4446M for Revenue, $1.74 and $1.97 for Adj EPS, $1.73 and $2.05 for EPS, $3.62, $6.62 and $3.16 for CFPS, $1.78. $211 and $2.16 for Net Income.
November 7, 2015.  Last estimates were for 2014,  2015 and 2016 of $3692M, $4354M and $4244M for Revenue, $1.49, $2.31 and $2.58 for EPS, $2.63 and $3.83 for CFPS for 2014 and 2015 and $143M, $224M and $256M for Net Income.
October 26, 2014.  Last estimates were for 2013 and 2014 of $3152.5M, 3291.4M for Revenue, $1.48 and $1.82 for EPS, $2.46 and $3.27 for CFPS.
Company was an income trust from 2002 to 2008.  When it changed to a corporation it dropped monthly distributions for quarterly distributions. Dividends dropped almost 75%.
Sector:
Services, Industrial
What should this stock accomplish?
You buy this stock for diversification.
Expect some volitiality in growth and in dividends.  Overall dividends would be moderate (2-3% range) with moderate increases (8 to 17%).
Would I buy this company and Why.
If I was looking for an industrial stock, I would consider this stock.  
It is a dividend growth stock.
Adjusted net income and adjusted earnings per share
Net income and earnings per share excluding the after-tax effect of changes in the fair value of derivatives, net foreign exchange gain or loss, and of items that are not in the
Company’s normal business.
Dividends
Dividends are paid in Cycle 1, that is January, April, July and October.  Dividends are declared at the end of the month to be paid in the middle of the following month.
For example, the dividend payable for shareholders of record of December 31, 2013 was paid on January 15, 2014.
 
Why am I following this stock. 
I read a report called "6 Canadian Dividend Stocks That Fly Under the Radar" by John Heinzl in April of 2013.  This is one of the stocks mentioned.
There was also a good review of this stock by Advice Hotline by MPL Communications.
Why I bought this stock.
I bought this stock to replace DH Corp stock.  It is a stock recommended my MPL Communications.  I rechecked by spreadsheet and liked the idea of buying this company.
How they make their money.
TransForce Inc. is a North American leader in the transportation and logistics industry operating across Canada and the United States through its subsidiaries.
TransForce companies service the following segments: Package and Courier; Less-Than-Truckload; Truckload, which includes specialized truckload and dedicated services;
 Specialized Services, which includes services to the energy sector, waste management, logistics and ancillary transportation services.
For most ratios, lower is better when looking for a good stock price.  However, there are exceptions such as for yield (dividends and erarnings) and asset/liability ratios and here you want a higher ratios to indicate a good stock price.  
Also, for the Operational Profit Margin, a higher percentage is better.  With the OPM, you should only compare companies in similar industries.
Shares; '%, Value $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M
Date Oct 24 2013 Oct 26 2014 Nov 7 2015 Nov 5 2016 May 4 2017
Bédard, Alain 4.486 4.80% 4.391 4.29% 4.217 4.32% 4.279 4.67% 4.204 4.59% Seems to be selling options
Chair & CEO - Shares - Amount $113.313 $129.918 $99.566 $149.669 $118.167
Options - percentage 2.288 2.45% 2.496 2.44% 2.885 2.95% 3.299 3.60% 3.402 3.72%
Options - amount $57.806 $73.849 $68.104 $115.399 $95.632
Rumble, Gregory William 0.023 0.02% 0.131 0.14% 0.023 0.02% Corp Team
CFO - Shares - Amount $0.531 $4.590 $0.632
Options - percentage 0.000 0.00% 0.016 0.02% 0.153 0.17%
Options - amount $0.000 $0.546 $4.287
Quesnel, Martin only CEO, CFO, Directors
VP of Finance - Shares - Amount on INK
Options - percentage
Options - amount
Auger, Daniel 0.000 0.00% only CEO, CFO, Directors
Officer - Shares - Amount $0.000 on INK
Options - percentage 0.000 0.00%
Options - amount $0.000
Guay, Richard 0.007 0.01% 0.016 0.02% 0.018 0.02% 0.018 0.02% 0.018 0.02% seems to be director now, 
Officer - Shares - Amount $0.168 $0.478 $0.424 $0.628 $0.505 not officer
Options - percentage 0.028 0.03% 0.031 0.03% 0.034 0.04% 0.038 0.04% 0.040 0.04%
Options - amount $0.712 $0.919 $0.809 $1.337 $1.119
Bérard, André 0.002 0.00% 0.053 0.05% 0.053 0.05% 0.053 0.06% 0.053 0.06%
Lead Director - Shares - Amount $0.062 $1.574 $1.256 $1.861 $1.495
Options - percentage 0.058 0.06% 0.065 0.06% 0.072 0.07% 0.082 0.09% 0.086 0.09%
Options - amount $1.457 $1.914 $1.712 $2.874 $2.420
Increase in O/S Shares 0.598 0.64% 0.463 0.50% 0.376 0.37% 0.131 0.13% 0.386 0.42%
due to SO $15.113 $11.701 $11.128 $3.081 $13.485
Book Value $5.329 $5.519 $5.624 $2.767 $9.525
Insider Buying -$0.094 -$1.285 $0.000
Insider Selling $5.143 $0.000 $3.463
Net Insider Selling $2.414 $5.049 -$1.285 $3.463
% of Market Cap 0.08% 0.22% -0.06% 0.15%
Directors 8 9 9 8 7
Women 0 0% 1 11% 1 11% 1 13% 0 0%
Minorities 0 0% 1 11% 1 11% 1 13% 0 0%
Institutions/Holdings 69 36.06% 73 42.87% 90 46.19% 89 43.35%
Total Shares Held 33.227 35.57% 42.663 41.69% 45.226 46.32% 39.583 43.22%
Increase/Decrease 0.184 0.56% 0.642 1.53% -1.334 -2.86% -0.695 -1.73%
Starting No. of Shares 33.042 42.021 46.560 40.278
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TransForce (Toronto: TFI)
Yield: 2.5%
Three-year dividend growth: 9.1%
My Stock