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/ Q2 2016
Wajax Corp TSX: WJX OTC: WJXFF www.wajax.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
Split Date
Split  
$1,237.0 <-12 mths -2.86%
Revenue* $928.2 $1,049.4 $1,206.5 $1,192.3 $1,213.5 $973.1 $1,111.9 $1,377.1 $1,466.0 $1,428.5 $1,451.3 $1,273.3 $1,246 $1,262 $1,325 21.33% <-Total Growth 10 Revenue
Increase 5.00% 13.06% 14.97% -1.18% 1.78% -19.81% 14.26% 23.85% 6.46% -2.56% 1.60% -12.27% -2.14% 1.28% 4.99% 1.95% <-IRR #YR-> 10 Revenue
5 year Running Average $983.2 $963.6 $995.4 $1,052.1 $1,118.0 $1,127.0 $1,139.5 $1,173.6 $1,228.3 $1,271.3 $1,367.0 $1,399.2 $1,373.0 $1,332.2 $1,311.5 2.75% <-IRR #YR-> 5 Revenue
Revenue per Share $58.97 $63.28 $72.75 $71.89 $73.17 $58.61 $66.86 $82.81 $87.59 $85.32 $86.50 $63.71 $62.71 $63.51 $66.68 3.80% <-IRR #YR-> 10 5 yr Running Average
Increase 4.72% 7.31% 14.95% -1.18% 1.78% -19.89% 14.08% 23.85% 5.78% -2.60% 1.39% -26.35% -1.57% 1.28% 4.99% 4.19% <-IRR #YR-> 5 5 yr Running Average
5 year Running Average $62.60 $60.64 $61.84 $64.64 $68.01 $67.94 $68.65 $70.67 $73.81 $76.24 $81.82 $81.19 $77.16 $72.35 $68.62 0.07% <-IRR #YR-> 10 Revenue per Share
P/S (Price/Sales) Med 0.19 0.35 0.49 0.43 0.34 0.28 0.45 0.44 0.52 0.45 0.40 0.37 0.26 -0.96% <-IRR #YR-> 5 Revenue per Share
P/S (Price/Sales) Close 0.24 0.49 0.47 0.45 0.29 0.37 0.55 0.47 0.47 0.43 0.36 0.26 0.23 0.23 0.24 2.96% <-IRR #YR-> 10 5 yr Running Average
*Revenue in M CDN $  P/S 10 yr  0.44 5 yr  0.43 -46.62% Diff M/C 3.41% <-IRR #YR-> 5 5 yr Running Average
-$1,049.4 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $1,273.3
-$1,111.9 $0.0 $0.0 $0.0 $0.0 $1,273.3
-$963.6 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $1,399.2
-$1,139.5 $0.0 $0.0 $0.0 $0.0 $1,399.2
-$63.28 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $63.71
-$66.86 $0.00 $0.00 $0.00 $0.00 $63.71
-$60.64 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $81.19
-$68.65 $0.00 $0.00 $0.00 $0.00 $81.19
-$0.95 <-12 mths 60.17%
EPS Basic $1.17 $2.04 $4.39 $4.34 $4.57 $2.06 $3.31 $3.84 $3.95 $2.85 $2.46 -$0.59 -128.92% <-Total Growth 10 EPS Basic
EPS Diluted* $1.14 $2.03 $4.36 $4.31 $4.53 $2.04 $3.26 $3.77 $3.89 $2.81 $2.42 -$0.59 $0.74 $1.31 $1.55 -129.06% <-Total Growth 10 EPS Diluted
Increase 86.89% 78.07% 114.78% -1.15% 5.10% -54.97% 59.80% 15.64% 3.18% -27.76% -13.88% -124.38% 225.42% 77.03% 18.32% #NUM! <-IRR #YR-> 10 Earnings per Share -129.06%
Earnings Yield 8.0% 6.6% 12.7% 13.4% 21.5% 9.3% 8.8% 9.8% 9.5% 7.7% 7.9% -3.5% 5.1% 9.0% 9.7% #NUM! <-IRR #YR-> 5 Earnings per Share -118.10%
5 year Running Average $0.01 $0.54 $1.30 $2.49 $3.27 $3.45 $3.70 $3.58 $3.50 $3.15 $3.23 $2.46 $1.85 $1.34 $1.09 16.42% <-IRR #YR-> 10 5 yr Running Average 357.25%
10 year Running Average $0.45 $0.55 $0.87 $1.16 $1.55 $1.73 $2.12 $2.44 $2.99 $3.21 $3.34 $3.08 $2.72 $2.42 $2.12 -7.84% <-IRR #YR-> 5 5 yr Running Average -33.51%
* Diluted ESP per share  E/P 10 Yrs 9.45% 5Yrs 7.86%
-$2.03 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 -$0.59
-$3.26 $0.00 $0.00 $0.00 $0.00 -$0.59
-$0.54 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.46
-$3.70 $0.00 $0.00 $0.00 $0.00 $2.46
Special Dividends $0.00 $0.65 $0.00 $1.12 $0.47 0.00% $1.00 $0.60 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 <-Median-> 10 Special Dividends
Dividend* $0.16 $1.24 $2.99 $3.88 $4.10 $2.68 $1.80 $2.09 $3.03 $2.75 $2.40 $1.18 $1.00 $1.00 $1.00 -4.95% <-Total Growth 10 Dividends
Increase #DIV/0! 678.06% 140.18% 29.77% 5.67% -34.63% -32.84% 16.11% 44.98% -9.24% -12.73% -50.70% -15.49% 0.00% 0.00% Count 30 Years of data
Dividends 5 Yr Running $0.03 $0.41 $1.01 $2.01 $2.92 $3.43 $3.61 $3.55 $3.15 $2.79 $2.73 $2.41 $2.07 $1.67 $1.32 486.56% <-Total Growth 10 Dividends 5 Yr Running
Yield H/L Price 1.42% 5.57% 8.37% 12.45% 16.55% 16.13% 5.97% 5.77% 6.62% 7.21% 6.97% 4.99% 6.09% 7.09% <-Median-> 10 Yield H/L Price
Yield on High  Price 1.09% 3.93% 6.46% 10.42% 11.69% 12.06% 4.70% 4.75% 5.76% 5.96% 6.11% 3.85% 5.14% 6.03% <-Median-> 10 Yield on High  Price
Yield on Low Price 2.05% 9.58% 11.87% 15.46% 28.31% 24.36% 8.19% 7.35% 7.79% 9.14% 8.11% 7.09% 7.46% 8.66% <-Median-> 10 Yield on Low Price
Yield on Close Price 1.13% 4.05% 8.73% 12.10% 19.43% 12.28% 4.89% 5.42% 7.44% 7.54% 7.80% 7.05% 6.84% 6.84% 6.25% 7.67% <-Median-> 10 Yield on Close Price
Payout Ratio EPS 14.04% 93.34% 68.58% 116.01% 100.88% 131.37% 85.89% 71.35% 77.89% 97.86% 99.17% -200.56% 135.14% 76.34% 64.52% 91.88% <-Median-> 10 DPR EPS
DPR EPS 5 Yr Running 400.00% 76.39% 77.61% 80.68% 89.28% 99.22% 97.51% 99.05% 90.17% 88.46% 84.64% 97.99% 111.79% 124.56% 121.24% 89.72% <-Median-> 10 DPR EPS 5 Yr Running
Payout Ratio CFPS 10.81% 232.86% 88.25% 85.23% 129.18% 43.47% 52.07% 52.04% -129.67% 191.10% 76.11% 247.02% 53.76% 38.46% #DIV/0! 80.67% <-Median-> 10 DPR CF
DPR CF 5 Yr Running 0.89% 13.75% 33.51% 61.00% 96.88% 86.66% 74.13% 67.93% 88.04% 88.22% 106.78% 152.51% 225.55% 87.43% #DIV/0! 87.35% <-Median-> 10 DPR CF 5 Yr Running
Payout Ratio CFPS WC 8.10% 68.26% 181.77% 97.49% 86.66% 98.75% 70.52% 42.12% 45.98% 48.10% 43.92% 31.82% 54.13% 38.46% #DIV/0! 59.31% <-Median-> 10 DPR CF WC
DPR CF WC 5 Yr Running 2.05% 23.05% 56.73% 74.88% 87.00% 97.71% 96.31% 75.58% 63.25% 54.97% 48.60% 43.24% 44.38% 43.04% #DIV/0! 69.07% <-Median-> 10 DPR CF WC 5 Yr Running
Median Values 5 Yr Med 5 Yr Cl 6.62% 7.44% 5 Yr Med Payout 77.89% 76.11% 43.92% -0.51% <-IRR #YR-> 10 Dividends
* Dividends per share  5 Yr Med and Cur. 3.29% -8.03% Last Div Inc ---> $0.60 $0.25 -58.3% -8.05% <-IRR #YR-> 5 Dividends
-$1.24 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.18
-$1.80 $0.00 $0.00 $0.00 $0.00 $1.18
Historical Dividends Historical High Div 15.10% Low Div 0.00% Ave Div 7.55% Med Div 4.01% Close Div 4.06% Historical Dividends
High/Ave/Median Values Curr diff Exp. -54.70% #DIV/0! #DIV/0! Exp. -9.40% Cheap 70.57% Cheap 68.40% High/Ave/Median 
Future Dividend Yield Div Yd 7.93% earning in 5 Years at IRR of 3.00% Div Inc. 15.93% Future Dividend Yield
Future Dividend Yield Div Yd 9.19% earning in 10 Years at IRR of 3.00% Div Inc. 34.39% Future Dividend Yield
Future Dividend Yield Div Yd 10.66% earning in 15 Years at IRR of 3.00% Div Inc. 55.80% Future Dividend Yield
Cost covered if held 5 years 2.35% 46.18% 103.49% 182.47% 254.17% 152.38% 80.72% 49.66% 50.59% 56.30% 82.30% 39.99% 28.62% 18.21% 17.27% 81.51% <-Median-> 10 Paid Median Price
Cost covered if held 10 years 1.82% 21.54% 39.37% 59.53% 100.27% 254.15% 451.57% 467.38% 468.94% 496.78% 273.94% 134.65% 78.67% 77.32% 82.86% 264.05% <-Median-> 10 Paid Median Price
Cost covered if held 15 years 7.15% 26.31% 68.41% 151.62% 191.67% 196.20% 210.64% 177.80% 152.98% 195.99% 455.03% 722.43% 679.96% 620.31% 611.27% 193.83% <-Median-> 10 Paid Median Price
Cost covered if held 20 years 43.14% 90.07% 129.48% 138.96% 229.58% 308.95% 389.66% 374.62% 351.28% 336.98% 258.67% 202.36% 241.15% 269.26% <-Median-> 10 Paid Median Price
Cost covered if held 25 years 145.24% 209.09% 242.75% 244.11% 365.39% 449.47% 515.44% 460.96% 242.75% <-Median-> 5 Paid Median Price
Cost covered if held 30 years 204.88% 271.99% 296.21% #NUM! <-Median-> 0 Paid Median Price
Yield if held 5 yrs 2.35% 27.98% 61.33% 70.48% 71.30% 23.83% 8.05% 5.85% 9.72% 11.10% 14.45% 3.93% 2.76% 2.19% 2.62% 12.77% <-Median-> 10 Paid Median Price
Yield if held 10 yrs 1.82% 13.05% 23.33% 22.99% 28.13% 39.38% 40.45% 42.87% 55.04% 47.83% 21.34% 5.29% 2.80% 3.21% 4.04% 33.76% <-Median-> 10 Paid Median Price
Yield if held 15 yrs 1.23% 14.03% 40.54% 58.57% 53.77% 30.40% 18.87% 16.31% 17.96% 18.87% 35.27% 26.59% 20.51% 18.17% 17.39% 28.50% <-Median-> 10 Paid Median Price
Yield if held 20 yrs 17.21% 29.28% 33.29% 20.62% 20.28% 28.34% 45.74% 36.07% 27.23% 12.40% 7.80% 5.93% 6.86% 27.78% <-Median-> 10 Paid Median Price
Yield if held 25 yrs 12.03% 22.87% 22.33% 18.46% 13.33% 13.56% 15.09% 13.11% 18.46% <-Median-> 5 Paid Median Price
Yield if held 30 yrs 5.76% 7.55% 8.12% #NUM! <-Median-> 0 Paid Median Price
Earnings less Dividends $3.05 $3.36 $3.79 $3.42 $4.08 $0.85 Dollar Test
Change in MV per Share $5.01 $3.83 $8.39 $15.04 $8.74 -$18.52 Dollar Test
Ratio 1.64 1.14 2.21 4.40 2.14 -21.87 Dollar Test
Graham No. $17.83 $23.30 $34.15 $34.03 $35.55 $23.53 $29.75 $34.07 $35.57 $30.55 $28.40 $15.50 $15.05 $20.02 $21.78 -33.46% <-Total Growth 10 Graham Price
Price/GP Ratio Med 0.63 0.96 1.05 0.92 0.70 0.71 1.01 1.06 1.29 1.25 1.21 1.53 1.09 1.05 <-Median-> 10 Price/GP Ratio
Price/GP Ratio High 0.82 1.36 1.35 1.09 0.99 0.94 1.29 1.29 1.48 1.51 1.38 1.98 1.29 1.32 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Low 0.44 0.56 0.74 0.74 0.41 0.47 0.74 0.83 1.09 0.99 1.04 1.08 0.89 0.79 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Close 0.80 1.32 1.00 0.94 0.59 0.93 1.24 1.13 1.15 1.19 1.08 1.08 0.97 0.73 0.73 1.08 <-Median-> 10 Price/GP Ratio
Prem/Disc Close -20.34% 31.82% 0.29% -5.80% -40.65% -7.24% 23.82% 13.17% 14.55% 19.40% 8.35% 8.30% -2.84% -26.98% -26.53% 8.33% <-Median-> 10 Graham Price
Price Close $14.20 $30.71 $34.25 $32.06 $21.10 $21.83 $36.84 $38.56 $40.74 $36.48 $30.77 $16.79 $14.62 $14.62 $16.00 -45.33% <-Total Growth 10 Stock Price
Increase 77.50% 116.27% 11.53% -6.39% -34.19% 3.46% 68.76% 4.67% 5.65% -10.46% -15.65% -45.43% -12.92% 0.00% 9.44% -5.86% <-IRR #YR-> 10 Stock Price
P/E 12.46 15.13 7.86 7.44 4.66 10.70 11.30 10.23 10.47 12.98 12.71 -28.46 19.76 11.16 10.32 -14.54% <-IRR #YR-> 5 Stock Price
Trailing P/E 23.28 26.94 16.87 7.35 4.90 4.82 18.06 11.83 10.81 9.38 10.95 6.94 -24.78 19.76 12.21 6.97% <-IRR #YR-> 10 Price & Dividend
Median 10, 5 Yrs D.  per yr 12.83% 8.74% % Tot Ret 184.10% -150.72% Price Inc -10.46% P/E:  10.35 10.47 -5.80% <-IRR #YR-> 5 Price & Dividend
-$30.71 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $16.79
-$36.84 $0.00 $0.00 $0.00 $0.00 $16.79
-$30.71 $2.99 $5.00 $4.57 $2.68 $2.80 $2.69 $3.03 $2.75 $2.40 $17.97
-$36.84 $2.69 $3.03 $2.75 $2.40 $17.97
Price H/L Median $11.25 $22.35 $35.73 $31.18 $24.78 $16.61 $30.14 $36.22 $45.76 $38.13 $34.43 $23.70 $16.43 9.44% 6.04% <-Total Growth 10 Stock Price
Increase 95.57% 98.76% 59.84% -12.74% -20.51% -32.97% 81.46% 20.16% 26.34% -16.68% -9.69% -31.16% -30.70% 6.84% 0.59% <-IRR #YR-> 10 Stock Price
P/E 9.86 11.01 8.19 7.23 5.47 8.14 9.25 9.61 11.76 13.57 14.23 -40.17 22.20 16.28% -4.69% <-IRR #YR-> 5 Stock Price
Trailing P/E 18.43 19.61 17.60 7.15 5.75 3.67 14.77 11.11 12.14 9.80 12.25 9.79 -27.84 14.99% <-IRR #YR-> 10 Price & Dividend
P/E on Run. 5 yr Ave 1405.63 41.54 27.48 12.52 7.57 4.81 8.15 10.11 13.08 12.09 10.66 9.63 8.86 4.16% <-IRR #YR-> 5 Price & Dividend
P/E on Run. 10 yr Ave 24.88 40.42 41.21 26.90 15.97 9.60 14.22 14.84 15.28 11.86 10.30 7.69 6.04 10.76 P/E Ratio Historical Median
Median 10, 5 Yrs D.  per yr 14.41% 8.86% % Tot Ret 96.08% 212.75% Price Inc -9.69% P/E:  8.72 11.76 Count 30 Years of data
-$22.35 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $23.70
-$30.14 $0.00 $0.00 $0.00 $0.00 $23.70
-$22.35 $2.99 $5.00 $4.57 $2.68 $2.80 $2.69 $3.03 $2.75 $2.40 $24.88
-$30.14 $2.69 $3.03 $2.75 $2.40 $24.88
High Months Dec Dec May/Jun Jul Aug Dec Dec May May Feb Mar Jan Mar High Months
Price High $14.69 $31.70 $46.25 $37.25 $35.08 $22.22 $38.29 $44.00 $52.61 $46.15 $39.28 $30.72 $19.45 -3.09% <-Total Growth 10 Stock Price
Increase 78.06% 115.79% 45.90% -19.46% -5.83% -36.66% 72.32% 14.91% 19.57% -12.28% -14.89% -21.79% -36.69% -0.31% <-IRR #YR-> 10 Stock Price
P/E 12.89 15.62 10.61 8.64 7.74 10.89 11.75 11.67 13.52 16.42 16.23 -52.07 26.28 -4.31% <-IRR #YR-> 5 Stock Price
Trailing P/E 24.08 27.81 22.78 8.54 8.14 4.91 18.77 13.50 13.95 11.86 13.98 12.69 -32.97 13.52 P/E Ratio Historical Median
Median 10, 5 Yrs Price Inc -12.28% P/E:  11.28 13.52 35.97 P/E Ratio Historical High
-$31.70 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $30.72
-$38.29 $0.00 $0.00 $0.00 $0.00 $30.72
Low Months Feb Jan Nov Dec Dec Mar Jan Oct Nov Jun Dec Dec Aug Low Months
Price Low $7.80 $13.00 $25.20 $25.10 $14.48 $11.00 $21.99 $28.43 $38.90 $30.10 $29.58 $16.68 $13.40 28.31% <-Total Growth 10 Stock Price
Increase 140.00% 66.67% 93.85% -0.40% -42.31% -24.03% 99.91% 29.29% 36.83% -22.62% -1.73% -43.61% -19.66% 2.52% <-IRR #YR-> 10 Stock Price
P/E 6.84 6.40 5.78 5.82 3.20 5.39 6.75 7.54 10.00 10.71 12.22 -28.27 18.11 -5.38% <-IRR #YR-> 5 Stock Price
Trailing P/E 12.79 11.40 12.41 5.76 3.36 2.43 10.78 8.72 10.32 7.74 10.53 6.89 -22.71 8.22 P/E Ratio Historical Median
Median 10, 5 Yrs Price Inc -1.73% P/E:  6.28 10.00 5.34 P/E Ratio Historical Low
-$13.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $16.68
Long Term Debt $180.90 $151.58 $151.94 Debt
Ratio to Market Cap 0.35 0.45 0.52 0.40 <-Median-> 2 % of Market C.
Goodwill & Intangibles $84.49 $87.67 $85.94 $84.31 $41.77 $41.34 Intangibles Goodwill
Ratio to Market Cap 0.13 0.13 0.14 0.16 0.12 0.14 0.13 <-Median-> 5 % of Market C.
Market Cap per Share $13.91 $31.29 $34.06 $31.83 $20.90 $21.57 $36.30 $37.89 $40.22 $35.93 $30.30 $17.79 $15.40
Market Cap $224 $509 $568 $532 $350 $362 $613 $641 $682 $611 $516 $336 $291 $291 $318 -34.11% <-Total Growth 10 Market Cap
Diluted 16.069 16.275 16.680 16.706 16.745 16.806 16.875 16.924 16.954 16.997 17.037 18.863 18.863 15.91% <-Total Growth 10 Diluted
Change 1.67% 1.28% 2.49% 0.15% 0.24% 0.36% 0.41% 0.29% 0.18% 0.26% 0.23% 10.72% 0.00% 0.27% <-Median-> 10 Change
Average # of Sh in M 15.713 16.228 16.58 16.59 16.59 16.60 16.614 16.629 16.700 16.737 16.773 18.560 18.560 14.37% <-Total Growth 10 Average
Change 0.10% 3.28% 2.20% 0.00% 0.00% 0.07% 0.10% 0.09% 0.42% 0.22% 0.21% 10.65% 0.00% 0.16% <-Median-> 10 Change
Difference 0.2% 2.2% 0.0% 0.0% 0.0% 0.0% 0.1% 0.0% 0.2% 0.0% 0.0% 7.7% 7.1% 0.04% <-Median-> 10 Difference
$44.56 <-12 mths 365.40% 24.90% Diff M/C Cash Flow less WC
$36.71 <-12 mths -43.32% $1.85 7.91 Cash Flow less WC
# of Shares in Millions 15.739 16.583 16.585 16.585 16.585 16.603 16.629 16.629 16.736 16.744 16.779 19.986 19.870 19.870 19.870 1.88% <-IRR #YR-> 10 Shares
Change 0.27% 5.36% 0.02% 0.00% 0.00% 0.11% 0.16% 0.00% 0.64% 0.04% 0.21% 19.12% -0.58% 0.00% 0.00% 3.75% <-IRR #YR-> 5 Shares
CF fr Op $M $23.3 $13.5 $56.2 $97.3 $58.7 $102.4 $89.4 $86.0 -$39.1 $24.1 $52.9 $9.6 $37.0 $51.7 -29.05% <-Total Growth 10 Cash Flow
Increase -69.84% -42.05% 316.42% 73.15% -39.70% 74.47% -12.65% -3.88% -145.50% 161.61% 119.59% -81.90% 286.03% 39.78% SO
5 year Running Average $56.3 $47.1 $48.0 $53.5 $49.8 $65.6 $80.8 $86.7 $59.5 $52.5 $42.7 $26.7 $16.9 $35.0 -43.31% <-Total Growth 10 CF 5 Yr Running
CFPS $1.48 $0.81 $3.39 $5.87 $3.54 $6.17 $5.38 $5.17 -$2.34 $1.44 $3.15 $0.48 $1.86 $2.60 -41.13% <-Total Growth 10 Cash Flow per Share
Increase -69.92% -45.00% 316.35% 73.15% -39.70% 74.27% -12.78% -3.88% -145.21% 161.58% 119.13% -84.81% 288.29% 39.78% -3.37% <-IRR #YR-> 10 Cash Flow -29.05%
5 year Running Average $3.58 $2.99 $3.01 $3.29 $3.02 $3.95 $4.87 $5.22 $3.58 $3.16 $2.56 $1.58 $0.92 $1.91 -36.04% <-IRR #YR-> 5 Cash Flow -89.29%
P/CF on Med Price 7.60 27.47 10.54 5.31 7.00 2.69 5.61 7.01 -19.58 26.49 10.92 49.48 8.83 0.04 -5.16% <-IRR #YR-> 10 Cash Flow per Share -41.13%
P/CF on Closing Price 9.60 37.74 10.11 5.46 5.96 3.54 6.85 7.46 -17.43 25.35 9.76 35.05 7.86 5.62 -38.35% <-IRR #YR-> 5 Cash Flow per Share -91.09%
12.20% Diff M/C -6.17% <-IRR #YR-> 10 CFPS 5 yr Running -47.12%
Excl.Working Capital CF $7.8 $32.5 -$28.9 -$12.2 $28.8 -$57.3 -$23.4 $20.3 $149.4 $71.6 $38.8 $64.8 $0.0 $0.0 -20.14% <-IRR #YR-> 5 CFPS 5 yr Running -67.52%
CF fr Op $M WC $31.1 $46.0 $27.3 $85.1 $87.5 $45.1 $66.0 $106.2 $110.3 $95.7 $91.7 $74.3 $37.0 $51.7 61.48% <-Total Growth 10 Cash Flow less WC
Increase 4.82% 48.10% -40.74% 211.80% 2.82% -48.48% 46.53% 60.85% 3.84% -13.19% -4.23% -18.92% -50.28% 39.78% 4.91% <-IRR #YR-> 10 Cash Flow less WC 61.48%
5 year Running Average $24.5 $28.5 $28.7 $43.8 $55.4 $58.2 $62.2 $78.0 $83.0 $84.7 $94.0 $95.6 $81.8 $70.1 2.40% <-IRR #YR-> 5 Cash Flow less WC 12.58%
CFPS Excl. WC $1.97 $2.78 $1.64 $5.13 $5.27 $2.71 $3.97 $6.39 $6.59 $5.72 $5.46 $3.72 $1.86 $2.60 12.87% <-IRR #YR-> 10 CF less WC 5 Yr Run 235.59%
Increase 4.53% 40.57% -40.75% 211.80% 2.82% -48.54% 46.30% 60.85% 3.18% -13.23% -4.43% -31.94% -49.99% 39.78% 9.00% <-IRR #YR-> 5 CF less WC 5 Yr Run 53.83%
5 year Running Average $1.56 $1.78 $1.78 $2.68 $3.36 $3.51 $3.75 $4.69 $4.99 $5.08 $5.63 $5.58 $4.67 $3.87 2.97% <-IRR #YR-> 10 CFPS - Less WC 33.98%
P/CF on Med Price 5.69 8.05 21.72 6.08 4.70 6.12 7.59 5.67 6.94 6.67 6.30 6.37 8.83 0.04 -1.30% <-IRR #YR-> 5 CFPS - Less WC -6.33%
P/CF on Closing Price 7.19 11.06 20.82 6.25 4.00 8.04 9.28 6.04 6.18 6.38 5.63 4.51 7.86 5.62 12.07% <-IRR #YR-> 10 CFPS 5 yr Running 212.64%
*Operational Cash Flow per share CF/-WC P/CF Med 10 yr 7.01 5 yr  10.92 P/CF Med 10 yr 6.34 5 yr  6.37 24.05% Diff M/C 8.28% <-IRR #YR-> 5 CFPS 5 yr Running 48.83%
-$0.81 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.48 Cash Flow per Share
-$5.38 $0.00 $0.00 $0.00 $0.00 $0.48 Cash Flow per Share
-$2.99 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.58 CFPS 5 yr Running
-$4.87 $0.00 $0.00 $0.00 $0.00 $1.58 CFPS 5 yr Running
-$46.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $74.3 Cash Flow less WC
-$66.0 $0.0 $0.0 $0.0 $0.0 $74.3 Cash Flow less WC
-$28.5 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $95.6 CF less WC 5 Yr Run
-$62.2 $0.0 $0.0 $0.0 $0.0 $95.6 CF less WC 5 Yr Run
-$2.78 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.72 CFPS - Less WC
-$3.97 $0.00 $0.00 $0.00 $0.00 $3.72 CFPS - Less WC
-$1.78 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $5.58 CFPS 5 yr Running
-$3.75 $0.00 $0.00 $0.00 $0.00 $5.58 CFPS 5 yr Running
Changes in non-cash operating working capital (note 24) -$20.3 -$114.3 $17.66 $7.45 -$19.75
   rev. Provisions Item 24 $0.3 $0.52 $1.25 $0.51
Rental equipment additions (note 8) -$25.1 -$20.01 -$23.10 -$22.95
Other non-current liabilities -$3.8 -$2.61 $1.37 -$0.85
Finance costs paid -$4.1 -$6.87 -$12.31 -$11.43
Income taxes paid -$2.4 -$60.33 -$13.43 -$10.29
       
Sum -$149.40 -$71.64 -$38.78 -$64.76
Google -$148.89 -$71.64 -$38.81 -$64.76
Difference -$0.51 $0.00 $0.03 $0.00
OPM 3.35% 4.39% 2.26% 7.13% 7.21% 4.63% 5.94% 7.71% 7.52% 6.70% 6.32% 5.84% 33.08% <-Total Growth 10 OPM
Increase -0.18% 30.99% -48.45% 215.52% 1.02% -35.75% 28.25% 29.87% -2.46% -10.91% -5.74% -7.59% Should increase  or be stable.
Diff from Median -48.6% -32.6% -65.3% 9.6% 10.7% -28.9% -8.8% 18.5% 15.6% 3.0% -3.0% -10.3% 0.00 <-Median-> 10 OPM
*Operational Profit Margin (CF excl. WC/Revenue) Ratio OPM 10 Yrs 6.51% 5 Yrs 6.70% should be  zero, it is a   check on calculations
Current Assets $335.76 $334.30 $389.10 $356.74 $397.28 $320.16 $386.93 $429.45 $486.84 $487.93 $525.87 $522.15 $507.89 Liquidity ratio of 1.5 and up, best
Current Liabilities $168.35 $203.57 $241.69 $210.54 $198.43 $160.02 $304.20 $262.44 $256.75 $215.54 $267.72 $219.44 $221.69 1.93 <-Median-> 10 Ratio
Liquidity 1.99 1.64 1.61 1.69 2.00 2.00 1.27 1.64 1.90 2.26 1.96 2.38 2.29 1.96 <-Median-> 5 Ratio
Liq. with CF aft div 2.12 1.55 1.64 1.76 1.92 2.36 1.41 1.79 1.58 2.16 2.01 2.32 2.37 2.01 <-Median-> 5 Ratio
Liq. CF re  Inv+Div  2.00 1.43 1.49 1.70 1.58 2.26 1.37 1.61 1.50 2.12 1.97 2.27 2.37 1.97 <-Median-> 5 Ratio
Assets $439.84 $440.69 $501.78 $467.31 $528.73 $448.21 $515.34 $589.93 $671.86 $676.95 $718.24 $677.47 $661.86 Debt Ratio of 1.5 and up, best
Liabilities $244.86 $243.63 $304.59 $269.21 $323.04 $247.85 $314.65 $362.34 $429.98 $429.76 $469.73 $388.96 $391.64 1.64 <-Median-> 10 Ratio
Debt Ratio 1.80 1.81 1.65 1.74 1.64 1.81 1.64 1.63 1.56 1.58 1.53 1.74 1.69 1.58 <-Median-> 5 Ratio
Book Value $194.99 $197.06 $197.20 $198.10 $205.69 $200.36 $200.69 $227.59 $241.89 $247.19 $248.52 $288.50 $270.22 $270.22 $270.22 46.40% <-Total Growth 10 Book Value
Book Value per share $12.39 $11.88 $11.89 $11.94 $12.40 $12.07 $12.07 $13.69 $14.45 $14.76 $14.81 $14.44 $13.60 $13.60 $13.60 21.47% <-Total Growth 10 Book Value per Share
Change 8.27% -4.07% 0.05% 0.46% 3.83% -2.70% 0.01% 13.40% 5.60% 2.15% 0.32% -2.54% -5.79% 0.00% 0.00% -57.67% P/B Ratio Current/10 Year Median
P/B Ratio (Median) 0.91 1.88 3.00 2.61 2.00 1.38 2.50 2.65 3.17 2.58 2.32 1.64 1.21 1.38 P/B Ratio Historical Median
P/B Ratio (Close) 1.15 2.58 2.88 2.68 1.70 1.81 3.05 2.82 2.82 2.47 2.08 1.16 1.08 1.08 1.18 1.96% <-IRR #YR-> 10 Book Value
Change 63.94% 125.45% 11.47% -6.82% -36.61% 6.33% 68.75% -7.70% 0.05% -12.34% -15.92% -44.01% -7.57% 0.00% 9.44% 3.65% <-IRR #YR-> 5 Book Value
Leverage (A/BK) 2.26 2.24 2.54 2.36 2.57 2.24 2.57 2.59 2.78 2.74 2.89 2.35 2.45 2.57 <-Median-> 10 A/BV
Debt/Equity Ratio 1.26 1.24 1.54 1.36 1.57 1.24 1.57 1.59 1.78 1.74 1.89 1.35 1.45 1.57 <-Median-> 10 Debt/Eq Ratio
Sharerholders Equity (Assets less liabilities) P/BV 10 yr Med 2.54 5 yr Med 2.58 -57.67% Diff M/C 2.58 Historical A/BV
-$11.88 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $14.44
-$12.07 $0.00 $0.00 $0.00 $0.00 $14.44
-$31.66 <-12 mths -215.13%
Comprehensive Income $72.75 $71.31 $73.68 $34.25 $55.48 $62.89 $65.35 $49.40 $40.71 -$10.05 -113.81% <-Total Growth 9 Comprehensive Income
Increase -1.98% 3.32% -53.52% 61.98% 13.36% 3.92% -24.41% -17.59% -124.67% -17.59% <-Median-> 5 Comprehensive Income
ROE 36.9% 36.0% 35.8% 17.1% 27.6% 27.6% 27.0% 20.0% 16.4% -3.5% 20.0% <-Median-> 5 Comprehensive Income
5Yr Median 35.8% 27.6% 27.6% 27.0% 27.0% 20.0% #NUM! <-IRR #YR-> 9 Comprehensive Income -113.81%
% Difference from NI 0.0% -0.9% -2.8% 0.1% 0.8% -1.4% -0.9% 3.2% -1.3% -8.8% #NUM! <-IRR #YR-> 5 Comprehensive Income -118.11%
Median Values Diff 5, 10 yr -0.9% -1.3%
-$72.8 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 -$10.0
-$55.5 $0.0 $0.0 $0.0 $0.0 -$10.0
Current Liability Coverage Ratio 0.18 0.23 0.11 0.40 0.44 0.28 0.22 0.40 0.43 0.44 0.34 0.34   CFO / Current Liabilities
5 year Median 0.16 0.18 0.18 0.20 0.23 0.28 0.28 0.40 0.40 0.40 0.40 0.40 0.40 <-Median-> 5 Current Liability Cov Ratio
Asset Efficiency Ratio 7.07% 10.45% 5.44% 18.20% 16.54% 10.05% 12.81% 18.00% 16.42% 14.14% 12.77% 10.97% CFO / Total Assets
5 year Median 4.72% 7.07% 7.07% 7.27% 10.45% 10.45% 12.81% 16.54% 16.42% 14.14% 14.14% 14.14% 14.1% <-Median-> 5 Return on Assets 
Return on Assets 4.2% 7.5% 14.5% 15.4% 14.3% 7.6% 10.7% 10.8% 9.8% 7.1% 5.7% -1.6% Net  Income/Assets Return on Assets
5Yr Median 1.6% 2.3% 4.2% 7.5% 14.3% 14.3% 14.3% 10.8% 10.7% 9.8% 9.8% 7.1% 7.1% <-Median-> 5 Asset Efficiency Ratio
ROE 9.4% 16.8% 36.9% 36.3% 36.9% 17.1% 27.4% 28.0% 27.3% 19.4% 16.6% -3.8% Net Inc/ Shareholders' equity Return on Equity
5Yr Median 4.2% 5.3% 9.4% 16.8% 36.3% 36.3% 36.3% 28.0% 27.4% 27.3% 27.3% 19.4% 19.4% <-Median-> 5 Return on Equity
-$31.18 <-12 mths -183.09%
Net Income $18.34 $33.10 $72.75 $71.97 $75.82 $34.23 $55.02 $63.80 $65.94 $47.87 $41.23 -$11.02 $12.20 $29.90 -133.27% <-Total Growth 10 Net Income
Increase 91.56% 80.52% 119.76% -1.07% 5.35% -54.86% 60.74% 15.97% 3.35% -27.41% -13.86% -126.71% -210.76% 145.08% EPS/CF Ratio should not be higher than 1.00
5 Yr Running Average $0.2 $8.8 $21.6 $41.1 $54.4 $57.6 $62.0 $60.2 $59.0 $53.4 $54.8 $41.6 $31.2 $24.0 #NUM! <-IRR #YR-> 10 Net Income -133.27%
Operating Cash Flow $23.29 $13.49 $56.19 $97.30 $58.67 $102.37 $89.42 $85.95 -$39.11 $24.09 $52.91 $9.57 #NUM! <-IRR #YR-> 5 Net Income -120.02%
Investment Cash Flow -$10.11 -$17.18 -$24.42 -$7.26 -$42.30 -$7.36 -$9.05 -$29.22 -$16.03 -$4.00 -$5.43 -$4.27 16.82% <-IRR #YR-> 10 5 Yr Running Ave. 373.16%
Total Accruals $5.16 $36.79 $40.98 -$18.07 $59.45 -$60.77 -$25.35 $7.07 $121.07 $27.77 -$6.25 -$16.32 -7.67% <-IRR #YR-> 5 5 Yr Running Ave. -32.91%
Total Assets $439.84 $440.69 $501.78 $467.31 $528.73 $448.21 $515.34 $589.93 $671.86 $676.95 $718.24 $677.47 Balance Sheet Assets
Accruals Ratio 1.17% 8.35% 8.17% -3.87% 11.24% -13.56% -4.92% 1.20% 18.02% 4.10% -0.87% -2.41% 1.20% <-Median-> 5 Ratio
EPS/CF Ratio 0.58 0.73 2.65 0.84 0.86 0.75 0.82 0.59 0.59 0.49 0.44 -0.16 0.67 <-Median-> 10 EPS/CF Ratio
-$33.1 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 -$11.0
-$55.0 $0.0 $0.0 $0.0 $0.0 -$11.0
-$8.8 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $41.6
-$62.0 $0.0 $0.0 $0.0 $0.0 $41.6
Change in Close 77.50% 116.27% 11.53% -6.39% -34.19% 3.46% 68.76% 4.67% 5.65% -10.46% -15.65% -45.43% -12.92% 0.00% 9.44% Count 0 Years of data
up/down up down down down up down Count 12
Meet Prediction? yes yes yes yes % right Count 7 58.33%
Financial Cash Flow -$9.01 -$59.93 -$42.20 -$91.13 -$13.86 -$81.48 -$46.63 -$69.28 $39.28 -$5.75 -$59.35 $16.03 C F Statement  Financial CF
Total Accruals $14.17 $96.72 $83.17 $73.06 $73.31 $20.70 $21.27 $76.35 $81.79 $33.52 $53.10 -$32.34 Accruals
Accruals Ratio 3.22% 21.95% 16.58% 15.63% 13.87% 4.62% 4.13% 12.94% 12.17% 4.95% 7.39% -4.77% 7.39% <-Median-> 5 Ratio
Cash $9.21 $42.95 $5.66 -$10.20 $4.15 -$7.71 $13.61 $3.59 Cash
Cash per Share $0.55 $2.58 $0.34 -$0.61 $0.25 -$0.46 $0.68 $0.18 $0.25 <-Median-> 5 Cash per Share
Percentage of Stock Price 2.54% 7.01% 0.88% -1.50% 0.68% -1.49% 4.06% 1.24% 0.68% <-Median-> 5 % of Stock Price
September 19, 2016.  Last estimates were for 2015, 2016 and 2017 of $1351M, $1391M and $1514M for Revenue, $1.42, $1.00 and $1.00 for EPS, $1.36 and $2.50 for CFPS for 2015 and 2016 and $36.9M, $45.0M for Net Income for 2015 and 2016.
September 26, 2015.  Last estimates wee for 2014, 2015 and 2016 of $1462M, $1521M, and $1568M for Revenue, $2.59, $3.21 for 2014 and 2015 for EPS, $3.28 and $3.56 for CFPS for 2014 and 2015 and $43.2M and $55.4M for Net Income for 2014 and 2015.
Sep 16, 2014.  Last estimates were for 2013 and 2014 of $1407M and $1455M for Revenue, 2013-2015 for EPS of $2.75, 2.40 and $2.40, $4.18 and $4.23 for CFPS.
July 27, 2013.  Last estimates I got were for 2010 and 2011 of $1348M and $1432M for Revenue, $3.70 and $3.72 for EPS and $3.22 and $2.93 for Cash Flow.
January 1, 2011 company was converted to a corporation.  The company was Wajax Income Fund of WJX.UN
2008.  TD said there was a 1:1.0211 split in 2008, but I find nothing to support this.
2005.  Was changed for a income fund in 2005, called Wajax Income Fund.
I got financials 2001 to 2010 from Wajax web site.  I got Financials for 2000 to 1999 from G&M.
Dividends, end of year with record date of December 30 and payment on January 20 of following year.  I included in Jan 20 dividend payments as first of a year.
Dividends were started in 2004 and the company then switched to an Income trust called Wajax Income Fund (TSX-WJX.UN) with a large increase in dividends.  In 2009 they started to reduce 
dividends, but did not complete the conversion to a corporation until January 1, 2011.
In June 2005, company was changed into an Income Trust.
Was Wajax Limited in 2004
Would I buy this company and Why.
This is a company I would consider if I was looking for an Indusial stock.  This sector has its ups and downs.  They have paid good dividends when they could.  I am sure dividends will grow as they can.  
However, industrial company can seldom raise their dividends consistently.  The company has good debt ratios and this is a plus for companies in volatile sectors.
Dividends
Dividends are paid quarterly starting in 2015.  They will be in cycle 1, that is January, April, July and October.  
Dividends were paid monthly as this company used to be an Income Trust.  They are declared for shareholders of record in one month and paid in the following month.
For example, the dividend declared for shareholders of record on September 15, 2015 was paid on October 2, 2015.
Why am I following this stock. 
TD Waterhouse put out a report on good dividend paying stocks to own in November 2011.  This was a stock they named.  I had not heard of it before, so I decided to investigate it. 
How they make their money.
Wajax is a leading Canadian distributor and service support provider of mobile equipment, industrial components and power systems. Reflecting a diversified exposure to the Canadian economy, 
Wajax has three distinct business divisions.  The organization’s customer base covers core sectors of the Canadian economy – 
mining, oil and gas, forestry, construction, manufacturing, industrial processing, transportation and utilities.
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.
following is technical analysis dated Oct 20, 2011.
http://www.theglobeandmail.com/globe-investor/investment-ideas/features/schizas-mailbag/wajax-wait-for-a-better-entry-point/article2207581/
http://www.tdwaterhouse.ca/webbroker/pdf/dividend_investing.pdf 
WAJAX WJX-T This and following from TD Report on dividend investing
INTACT FINANCIAL IFC-T
Shares; '%, Value $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M
Date Jan 2012 Jul 27 2013 Sep 16 2014 Sep 26 2015 Sep 19 2015
Foote, Alan Mark 0.040 0.24% 0.052 0.31% 0.062 0.31% 0.062 0.31%
CEO - Shares - Amount $1.459 $1.600 $1.041 $1.041
Options - percentage 0.016 0.09% 0.017 0.10% 0.018 0.09% 0.131 0.66%
Options - amount $0.568 $0.514 $0.299 $2.199
Reuters Options Value 0.000 $0
Hamilton, John Joseph 0.023 0.14% 0.023 0.14% 0.023 0.12% 0.023 0.12%
CFO - Shares - Amount $0.844 $0.712 $0.388 $0.388
Options - percentage 0.003 0.02% 0.025 0.15% 0.026 0.13% 0.060 0.30%
Options - amount $0.104 $0.756 $0.439 $1.005
Auld, Stuart Harrison 0.000 0.00%
Officer - Shares - Amount $0.000
Options - percentage 0.021 0.11%
Options - amount $0.355
Dyck, Brian 0.008 0.05% 0.008 0.05% 0.008 0.04%
Officer - Shares - Amount $0.285 $0.240 $0.131
Options - percentage 0.005 0.03% 0.009 0.05% 0.009 0.05%
Options - amount $0.187 $0.271 $0.157
Barrett, Edward Malcolm 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00%
Director - Shares - Amount $0.005 $0.004 $0.002 $0.002
Options - percentage 0.022 0.13% 0.025 0.15% 0.028 0.14% 0.032 0.16%
Options - amount $0.816 $0.770 $0.472 $0.540
Gagne, Paul Ernest 0.008 0.05% 0.007 0.04% 0.007 0.04%
Chairman - Shares - Amt $0.234 $0.123 $0.123
Options - percentage 0.038 0.22% 0.044 0.22% 0.054 0.27%
Options - amount $1.157 $0.743 $0.899
Increase in O/S Shares 0.107 0.64% 0.007 0.04% 0.035 0.21% 0.010 0.05%
due to SO  $4.359 $0.258 $1.088 $0.174
Book Value $1.280 $0.053 $0.750 $0.097
Insider Buying -$1.327 -$0.396
Insider Selling $0.000 $0.000
Net Insider Selling -$0.426 -$1.327 -$0.396
% of Market Cap -0.08% -0.40% -0.12%
Directors 9 9 10 10
Women 0 0% 0 0% 1 10% 1 10%
Minorities 0 0% 0 0% 0 0% 0 0%
Institutions/Holdings 43 26.99% 43 23.47% 35 40.97% 0 0.00%
Total Shares Held 3.605 4.517 26.98% 3.938 23.47% 8.186 40.96% 0.000 0.00%
Increase/Decrease 3 Mths 0.012 0.34% -0.050 -1.10% 0.089 2.31% 0.339 4.32% 0.000 #DIV/0!
Starting No. of Shares 3.593 4.567 3.849 7.847 0.000
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