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.  https://spbrunner.com/stocks.html https://spbrunner.blogspot.com/ Q1 2024 <-estimates
Bank of Nova Scotia TSX: BNS NYSE: BNS https://www.scotiabank.com/ Fiscal Yr: Oct 31
Year 10/31/11 10/31/12 10/31/13 10/31/14 10/31/15 10/31/16 10/31/17 10/31/18 10/31/19 10/31/20 10/31/21 10/31/22 10/31/23 10/31/24 10/31/25 10/31/26 Value Description #Y Item Total G
Accounting Rules C GAAP IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS Accounting Rules
Split Date Split Date
Split Split
Adjusted Revenue $21,343 $23,604 $24,049 $26,350 $27,155 $28,775 $31,161 $31,139 $31,252 $31,777 $31,940 $33,585 $35,032 $37,093 49.65% <-Total Growth 10 Adjusted Revenue Non-GAAP Meausres
Change 10.59% 1.89% 9.57% 3.06% 5.97% 8.29% -0.07% 0.36% 1.68% 0.51% 5.15% 4.31% 5.88% 2.47% <-Median-> 10 Change
Interest Income $18,712 $17,154 $18,822 $19,540 $20,287 $22,208 $23,927 $28,067 $32,784 $29,712 $24,986 $33,558 $56,824 201.90% <-Total Growth 10 Interest Income
Other Income $8,018 $9,960 $10,275 $11,639 $10,957 $12,058 $12,120 $12,584 $13,584 $14,016 $14,291 $13,301 $14,020 36.45% <-Total Growth 10 Other Income
Total $26,730 $27,114 $29,097 $31,179 $31,244 $34,266 $36,047 $40,651 $46,368 $43,728 $39,277 $46,859 $70,844 143.48% <-Total Growth 10 Total
$32,535 <-12 mths 0.71%
Revenue* $16,242 $19,701 $21,343 $23,604 $24,049 $26,350 $27,155 $28,775 $31,034 $31,336 $31,252 $31,416 $32,307 $33,585 $35,032 $37,093 51.37% <-Total Growth 10 Revenue
Increase 13.85% 21.30% 8.33% 10.59% 1.89% 9.57% 3.06% 5.97% 7.85% 0.97% -0.27% 0.52% 2.84% 3.96% 4.31% 5.88% 4.23% <-IRR #YR-> 10 Revenue 51.37%
5 year Running Average $13,337 $14,834 $16,853 $19,031 $16,178 $23,009 $24,500 $25,987 $27,473 $23,660 $29,910 $30,763 $31,469 $31,979 $32,718 $33,887 2.34% <-IRR #YR-> 5 Revenue 12.27%
Revenue per Share $14.91 $16.63 $17.66 $19.40 $19.99 $21.81 $22.64 $23.45 $25.52 $25.87 $25.71 $26.37 $26.61 $27.66 $28.86 $30.55 6.44% <-IRR #YR-> 10 5 yr Running Average 86.73%
Increase 9.04% 11.53% 6.16% 9.87% 3.04% 9.12% 3.80% 3.57% 8.82% 1.36% -0.58% 2.55% 0.92% 3.96% 4.31% 5.88% 3.90% <-IRR #YR-> 5 5 yr Running Average 21.10%
5 year Running Average $12.95 $13.79 $15.06 $16.46 $17.72 $19.10 $20.30 $21.46 $22.68 $23.86 $24.64 $25.38 $26.02 $26.44 $27.04 $28.01 4.19% <-IRR #YR-> 10 Revenue per Share 50.69%
P/S (Price/Sales) Med 3.69 3.15 3.30 3.46 3.30 2.85 3.00 3.28 2.80 2.38 2.67 3.00 2.43 2.19 0.00 0.00 2.56% <-IRR #YR-> 5 Revenue per Share 13.48%
P/S (Price/Sales) Close 3.52 3.26 3.59 3.56 3.08 3.30 3.68 3.01 2.96 2.14 3.16 2.50 2.11 2.28 2.18 2.11 5.62% <-IRR #YR-> 10 5 yr Running Average 72.77%
*Total Revenue M CDN $  P/S Med 20 yr  3.29 15 yr  3.00 10 yr  2.93 5 yr  2.67 -22.20% Diff M/C 3.92% <-IRR #YR-> 5 5 yr Running Average 21.23%
-$21,343 $0 $0 $0 $0 $0 $0 $0 $0 $0 $32,307
-$28,775 $0 $0 $0 $0 $32,307
-$16,853 $0 $0 $0 $0 $0 $0 $0 $0 $0 $31,469
-$25,987 $0 $0 $0 $0 $31,469
-$17.66 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $26.61
-$23.45 $0.00 $0.00 $0.00 $0.00 $26.61
-$15.06 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $26.02
-$21.46 $0.00 $0.00 $0.00 $0.00 $26.02
$6.32 <-12 mths -3.36%
Adjusted Net Income CDN$ $4,962 $6,183 $6,685 $7,360 $7,048 $7,424 $7,936 $8,659 $9,409 $6,961 $9,595 $10,230 $7,901 18.19% <-Total Growth 10 Adjusted Net Income
Return on Equity ROE 17.49% 17.54% 16.48% 16.37% 14.36% 14.10% 13.92% 13.83% 14.43% 11.08% 14.82% 15.70% 11.48% 14.23% <-Median-> 10 Return on Equity ROE
5Yr Median 17.07% 17.07% 17.07% 17.07% 16.48% 16.37% 14.36% 14.10% 14.10% 13.92% 13.92% 14.43% 14.43% 14.40% <-Median-> 10 5Yr Median
Basic $4.63 $5.46 $5.22 $5.73 $5.82 $6.17 $6.60 $7.14 $7.70 $5.74 $7.90 $8.53 $6.60 26.45% <-Total Growth 10 AEPS
AEPS* Dilued $4.62 $5.33 $5.17 $5.72 $6.05 $5.72 $6.54 $7.11 $7.14 $5.36 $7.87 $8.50 $6.54 $6.48 $6.95 $7.28 26.50% <-Total Growth 10 AEPS
Increase 18.16% 15.37% -3.00% 10.64% 5.77% -5.45% 14.34% 8.72% 0.42% -24.93% 46.83% 8.01% -23.06% -0.92% 7.25% 4.75% 10 0 10 Years of Data, EPS P or N 100.00%
5 year Running Average $3.78 $4.04 $4.47 $4.95 $5.38 $5.60 $5.84 $6.23 $6.51 $6.37 $6.80 $7.20 $7.08 $6.95 $7.27 $7.15 2.38% <-IRR #YR-> 10 AEPS 26.50%
AEPS Yield 8.79% 9.82% 8.16% 8.29% 9.84% 7.94% 7.85% 10.06% 9.45% 9.68% 9.70% 12.91% 11.65% 10.29% 11.04% 11.28% -1.66% <-IRR #YR-> 5 AEPS -8.02%
Payout Ratio 44.37% 41.09% 46.23% 44.76% 44.96% 50.35% 46.64% 46.13% 48.88% 67.16% 45.74% 47.76% 63.91% 65.43% 61.01% 58.24% 4.71% <-IRR #YR-> 10 5 yr Running Average 58.50%
5 year Running Average 52.01% 51.55% 48.21% 45.31% 44.28% 45.48% 46.59% 46.57% 47.39% 51.83% 50.91% 51.14% 54.69% 58.00% 56.77% 59.27% 2.60% <-IRR #YR-> 5 5 yr Running Average 13.71%
Price/AEPS Median 11.93 9.84 11.27 11.75 10.90 10.86 10.39 10.83 10.02 11.49 8.74 9.32 9.91 9.34 0.00 0.00 10.61 <-Median-> 10 Price/AEPS Median
Price/AEPS High 13.20 10.70 12.29 12.97 11.71 12.63 12.73 11.94 10.68 14.27 10.41 11.12 11.34 9.95 0.00 0.00 11.82 <-Median-> 10 Price/AEPS High
Price/AEPS Low 10.66 8.98 10.25 10.53 10.09 9.10 8.05 9.73 9.36 8.72 7.06 7.52 8.47 8.72 0.00 0.00 8.91 <-Median-> 10 Price/AEPS Low
Price/AEPS Close 11.37 10.18 12.26 12.07 10.16 12.60 12.73 9.94 10.58 10.33 10.31 7.75 8.59 9.72 9.06 8.87 10.32 <-Median-> 10 Price/AEPS Close
Trailing P/AEPS Close 13.43 11.74 11.89 13.35 10.75 11.91 14.56 10.80 10.62 7.75 15.14 8.37 6.61 9.63 9.72 9.29 10.78 <-Median-> 10 Trailing P/AEPS Close
Median Values DPR 10 Yrs 47.20% 5 Yrs   48.88% P/CF 5 Yrs   in order 9.91 11.12 8.47 10.31 -1.92% Diff M/C DPR 75% to 95% best
* Adjusted Earnings per Share
-$5.17 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $6.54
-$7.11 $0.00 $0.00 $0.00 $0.00 $6.54
-$4.47 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $7.08
-$6.23 $0.00 $0.00 $0.00 $0.00 $7.08
$5.99 <-12 mths 3.63%
Difference Basic and Diluted 0.00% 1.69% 0.77% 0.53% 0.53% 0.52% 0.92% 1.16% 0.60% 2.39% 0.52% 0.37% 1.03% 0.56% <-Median-> 10 Difference Basic and Diluted
EPS Basic $4.62 $5.31 $5.19 $5.69 $5.70 $5.80 $6.55 $6.90 $6.72 $5.43 $7.74 $8.05 $5.84 12.52% <-Total Growth 10 EPS Basic
pre '98 Split
pre '04 Split
EPS* $4.62 $5.22 $5.15 $5.66 $5.67 $5.77 $6.49 $6.82 $6.68 $5.30 $7.70 $8.02 $5.78 $6.48 $7.06 $7.36 12.23% <-Total Growth 10 EPS Diluted
Increase 18.16% 12.99% -1.34% 9.90% 0.18% 1.76% 12.48% 5.08% -2.05% -20.66% 45.28% 4.16% -27.93% 12.11% 8.95% 4.25% 10 0 10 Years of Data, EPS P or N 100.00%
Earnings Yield 8.8% 9.6% 8.1% 8.2% 9.2% 8.0% 7.8% 9.7% 8.8% 9.6% 9.5% 12.2% 10.3% 10.3% 11.2% 11.4% 1.16% <-IRR #YR-> 10 Earnings per Share 12.23%
5 year Running Average $3.78 $4.02 $4.44 $4.91 $5.26 $5.49 $5.75 $6.08 $6.29 $6.21 $6.60 $6.90 $6.70 $6.66 $7.01 $6.94 -3.25% <-IRR #YR-> 5 Earnings per Share -15.25%
10 year Running Average $3.24 $3.60 $3.88 $4.16 $4.42 $4.64 $4.89 $5.26 $5.60 $5.74 $6.05 $6.33 $6.39 $6.47 $6.61 $6.77 4.19% <-IRR #YR-> 10 5 yr Running Average 50.74%
* ESP per share (Cdn GAAP) E/P 10 Yrs 9.36% 5Yrs 9.58% 1.94% <-IRR #YR-> 5 5 yr Running Average 10.10%
-$5.15 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $5.78
-$6.82 $0.00 $0.00 $0.00 $0.00 $5.78
-$4.44 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $6.70
-$6.08 $0.00 $0.00 $0.00 $0.00 $6.70
Dividend* $4.27 $4.38 $4.37 Estimates Dividend*
Increase 2.15% 2.58% -0.23% Estimates Increase
Payout Ratio EPS 65.90% 62.04% 59.38% Estimates Payout Ratio EPS
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 $0.00 <-Median-> 10 Special Dividends
pre '98 Split
pre '04 Split
Dividend* $2.05 $2.19 $2.39 $2.56 $2.72 $2.88 $3.05 $3.28 $3.49 $3.60 $3.60 $4.06 $4.18 $4.24 $4.24 $4.24 74.90% <-Total Growth 10 Dividends
Increase 4.59% 6.83% 9.13% 7.11% 6.25% 5.88% 5.90% 7.54% 6.40% 3.15% 0.00% 12.78% 2.96% 1.44% 0.00% 0.00% 35 0 38 Years of data, Count P, N 92.11%
Average Increases 5 Year Running 6.60% 4.77% 4.53% 5.53% 6.78% 7.04% 6.86% 6.54% 6.40% 5.78% 4.60% 5.97% 5.06% 4.06% 3.43% 3.43% 6.19% <-Median-> 10 Average Incr 5 Year Running
Dividends 5 Yr Running $1.93 $2.02 $2.11 $2.23 $2.38 $2.55 $2.72 $2.90 $3.08 $3.26 $3.40 $3.61 $3.79 $3.94 $4.06 $4.19 79.43% <-Total Growth 10 Dividends 5 Yr Running
Yield H/L Price 3.72% 4.17% 4.10% 3.81% 4.12% 4.63% 4.49% 4.26% 4.88% 5.84% 5.23% 5.12% 6.45% 7.01% 4.76% <-Median-> 10 Dividends Item
Yield on High  Price 3.36% 3.84% 3.76% 3.45% 3.84% 3.99% 3.66% 3.86% 4.58% 4.71% 4.39% 4.30% 5.64% 6.57% 4.14% <-Median-> 10 Dividends EPS
Yield on Low Price 4.16% 4.57% 4.51% 4.25% 4.45% 5.53% 5.79% 4.74% 5.22% 7.71% 6.48% 6.35% 7.54% 7.50% 5.66% <-Median-> 10 Dividends AEPS
Yield on Close Price 3.90% 4.04% 3.77% 3.71% 4.42% 4.00% 3.66% 4.64% 4.62% 6.50% 4.44% 6.17% 7.44% 6.73% 6.73% 6.57% 4.53% <-Median-> 10 Dividends CFPS
Payout Ratio EPS 44.37% 41.95% 46.41% 45.23% 47.97% 49.91% 47.00% 48.09% 52.25% 67.92% 46.75% 50.62% 72.32% 65.43% 60.06% 57.61% 50.27% <-Median-> 10 DPR EPS FCF 
DPR EPS 5 Yr Running 50.95% 50.12% 47.50% 45.40% 45.25% 46.38% 47.32% 47.65% 49.06% 52.48% 51.59% 52.23% 56.54% 59.13% 57.99% 60.40% 50.33% <-Median-> 10 DPR EPS 5 Yr Running
Payout Ratio CFPS 210.01% 32.14% 29.64% 62.99% 23.63% 84.87% 22.06% 22.60% 0.00% 7.70% 0.00% 28.55% 16.00% 16.23% #VALUE! #DIV/0! 22.33% <-Median-> 10 DPR CF
DPR CF 5 Yr Running 99.99% 70.00% 469.03% 65.24% 37.90% 37.64% 33.28% 30.63% 46.22% 23.75% 31.12% 32.73% 28.38% 19.16% #VALUE! #DIV/0! 33.01% <-Median-> 10 DPR CF 5 Yr Running
Payout Ratio CFPS WC 39.91% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 16.23% #VALUE! #DIV/0! 0.00% <-Median-> 10 DPR CF WC
DPR CF WC 5 Yr Running 45.08% 66.99% 112.19% 380.86% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 237.49% #VALUE! #DIV/0! 0.00% <-Median-> 10 DPR CF WC 5 Yr Running
Median Values 10 Yr Med 10 Yr Cl 4.76% 4.53% 5 Yr Med 5 Yr Cl 5.23% 6.17% 5 Yr Med Payout 52.25% 7.70% 0.00% 4.97% <-IRR #YR-> 5 Dividends 27.44%
* Dividends per share  10 Yr Med and Cur. 41.59% 48.71% 5 Yr Med and Cur. 28.65% 9.23% Last Div Inc ---> $1.03 $1.06 2.91% 5.75% <-IRR #YR-> 10 Dividends 74.90%
Dividends Growth 15 5.32% <-IRR #YR-> 15 Dividends 117.71%
Dividends Growth 20 8.35% <-IRR #YR-> 20 Dividends 397.62%
Dividends Growth 25 9.84% <-IRR #YR-> 25 Dividends 945.00%
Dividends Growth 30 9.43% <-IRR #YR-> 30 Dividends
Dividends Growth 35 9.23% <-IRR #YR-> 35 Dividends
Dividends Growth 40 8.79% <-IRR #YR-> 38 Dividends
Dividends Growth 5 -$3.28 $0.00 $0.00 $0.00 $0.00 $4.18 Dividends Growth 5
Dividends Growth 10 -$2.39 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $4.18 Dividends Growth 10
Dividends Growth 15 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $4.18 Dividends Growth 15
Dividends Growth 20 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $4.18 Dividends Growth 20
Dividends Growth 25 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $4.18 Dividends Growth 25
Dividends Growth 30 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $4.18 Dividends Growth 30
Dividends Growth 35 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $4.18 Dividends Growth 35
Dividends Growth 40 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $4.18 Dividends Growth 40
Historical Dividends Historical High Div 7.71% Low Div 2.36% 10 Yr High 7.69% 10 Yr Low 3.51% Med Div 4.22% Close Div 4.04% Historical Dividends
High/Ave/Median Values Curr diff Exp. -12.65%     185.36% Exp. -12.43% 91.86% Cheap 59.58% Cheap 66.82% High/Ave/Median 
Historical Dividends 1988 Historical High Div 7.82% Low Div 2.31% 10 Yr High 7.69% 10 Yr Low 3.51% Med Div 4.15% Close Div 3.95% Historical Dividends
Future Dividend Yield Div Yd 8.58% earning in 5 Years at IRR of 4.97% Div Inc. 27.44% Future Dividend Yield
Future Dividend Yield Div Yd 10.94% earning in 10 Years at IRR of 4.97% Div Inc. 62.41% Future Dividend Yield
Future Dividend Yield Div Yd 13.94% earning in 15 Years at IRR of 4.97% Div Inc. 106.97% Future Dividend Yield
Future Dividend Paid Div Paid $5.40 earning in 5 Years at IRR of 4.97% Div Inc. 32.96% Future Dividend Paid
Future Dividend Paid Div Paid $6.89 earning in 10 Years at IRR of 4.97% Div Inc. 69.44% Future Dividend Paid
Future Dividend Paid Div Paid $8.78 earning in 15 Years at IRR of 4.97% Div Inc. 115.93% Future Dividend Paid
Dividend Covering Cost Total Div $25.05 over 5 Years at IRR of 8.35% Div Cov. 39.79% Dividend Covering Cost
Dividend Covering Cost Total Div $53.90 over 10 Years at IRR of 8.35% Div Cov. 85.62% Dividend Covering Cost
Dividend Covering Cost Total Div $97.00 over 15 Years at IRR of 8.35% Div Cov. 154.06% Dividend Covering Cost
Yield if held 5 years 4.50% 4.30% 5.34% 7.03% 5.43% 5.23% 5.81% 5.63% 5.19% 5.46% 5.79% 5.97% 5.43% 5.93% 6.88% 6.17% 5.54% <-Median-> 10 Paid Median Price
Yield if held 10 years 9.34% 8.92% 8.54% 7.20% 6.75% 6.32% 5.98% 7.33% 9.59% 7.19% 6.53% 7.74% 7.17% 6.31% 6.43% 6.82% 6.96% <-Median-> 10 Paid Median Price
Yield if held 15 years 23.17% 16.03% 14.16% 15.63% 15.17% 13.12% 12.42% 11.72% 9.82% 8.93% 7.91% 7.97% 9.34% 11.65% 8.47% 7.69% 10.73% <-Median-> 10 Paid Median Price
Yield if held 20 years 53.77% 40.05% 37.21% 36.32% 39.93% 32.55% 22.32% 19.44% 21.31% 20.08% 16.40% 16.54% 14.94% 11.93% 10.52% 9.31% 19.76% <-Median-> 10 Paid Median Price
Yield if held 25 years 57.04% 51.34% 69.53% 62.29% 74.70% 75.54% 55.77% 51.07% 49.52% 52.84% 40.69% 29.72% 24.77% 25.89% 23.65% 19.32% 50.30% <-Median-> 10 Paid Median Price
Yield if held 30 years 81.73% 80.14% 71.50% 95.42% 84.91% 98.87% 94.43% 74.24% 65.08% 60.16% 62.24% 47.92% 80.93% <-Median-> 10 Paid Median Price
108.17% 100.17% 95.18% 121.60% 103.16% 116.44% 111.21% 103.16% <-Median-> 5 Paid Median Price
Cost covered if held 5 years 21.15% 19.78% 23.58% 30.63% 23.79% 23.12% 25.92% 24.86% 22.94% 24.71% 27.39% 26.53% 24.58% 27.51% 32.98% 30.48% 24.79% <-Median-> 10 Paid Median Price
Cost covered if held 10 years 68.86% 67.53% 64.78% 55.12% 52.06% 49.13% 46.46% 55.96% 72.99% 56.35% 54.00% 60.28% 57.35% 52.22% 55.52% 61.12% 54.98% <-Median-> 10 Paid Median Price
Cost covered if held 15 years 197.12% 140.97% 125.93% 142.75% 142.79% 126.90% 122.92% 116.56% 98.51% 92.50% 86.50% 81.84% 98.27% 127.06% 96.94% 92.03% 107.54% <-Median-> 10 Paid Median Price
Cost covered if held 20 years 495.93% 381.03% 357.30% 357.82% 405.50% 341.11% 240.51% 211.79% 236.92% 233.72% 204.44% 196.35% 184.21% 153.88% 142.90% 132.54% 222.76% <-Median-> 10 Paid Median Price
Cost covered if held 25 years 556.45% 515.93% 704.22% 645.92% 796.91% 830.10% 629.71% 582.91% 576.62% 644.77% 533.48% 372.48% 323.97% 357.10% 347.09% 299.93% 579.77% <-Median-> 10 Paid Median Price
Cost covered if held 30 years 902.31% 910.96% 834.75% 1125.75% 1021.11% 1244.56% 1276.52% 959.41% 877.66% 855.87% 943.05% 770.39% 935.18% <-Median-> 10 Paid Median Price
1392.08% 1384.56% 1257.44% 1676.44% 1499.94% 1802.61% 1826.30% 1392.08% <-Median-> 5 Paid Median Price
Yr  Item Tot. Growth
Revenue Growth  $28,775 $31,034 $31,336 $31,252 $31,416 $32,307 $32,535 <-12 mths 0.71% 12.27% <-Total Growth 5 Revenue Growth  12.27%
AEPS Growth $7.11 $7.14 $5.36 $7.87 $8.50 $6.54 $6.32 <-12 mths -3.36% -8.02% <-Total Growth 5 AEPS Growth -8.02%
Net Income Growth $8,361 $8,208 $6,582 $9,391 $9,656 $6,991 $7,260 <-12 mths 3.85% -16.39% <-Total Growth 5 Net Income Growth -16.39%
Cash Flow Growth $17,811 -$12,025 $56,664 -$12,807 $16,943 $31,724 $0 <-12 mths -100.00% 78.11% <-Total Growth 5 Cash Flow Growth 78.11%
Dividend Growth $3.28 $3.49 $3.60 $3.60 $4.06 $4.18 $4.24 <-12 mths 1.44% 27.44% <-Total Growth 5 Dividend Growth 27.44%
Stock Price Growth $70.65 $75.54 $55.35 $81.14 $65.85 $56.15 $62.96 <-12 mths 12.13% -20.52% <-Total Growth 5 Stock Price Growth -20.52%
Revenue Growth  $21,343 $23,604 $24,049 $26,350 $27,155 $28,775 $31,034 $31,336 $31,252 $31,416 $32,307 $33,585 <-this year 3.96% 51.37% <-Total Growth 10 Revenue Growth  51.37%
AEPS Growth $5.17 $5.72 $6.05 $5.72 $6.54 $7.11 $7.14 $5.36 $7.87 $8.50 $6.54 $6.48 <-this year -0.92% 26.50% <-Total Growth 10 AEPS Growth 26.50%
Net Income Growth $6,205 $6,916 $6,897 $6,987 $7,876 $8,361 $8,208 $6,582 $9,391 $9,656 $6,991 $6,901 <-this year -1.29% 12.67% <-Total Growth 10 Net Income Growth 12.67%
Cash Flow Growth $9,744 $4,944 $13,847 $4,099 $16,584 $17,811 -$12,025 $56,664 -$12,807 $16,943 $31,724 $31,724 <-this year 0.00% 225.57% <-Total Growth 10 Cash Flow Growth 225.57%
Dividend Growth $2.39 $2.56 $2.72 $2.88 $3.05 $3.28 $3.49 $3.60 $3.60 $4.06 $4.18 $4.27 <-this year 2.15% 74.90% <-Total Growth 10 Dividend Growth 74.90%
Stock Price Growth $63.39 $69.02 $61.49 $72.08 $83.28 $70.65 $75.54 $55.35 $81.14 $65.85 $56.15 $64.55 <-this year 14.96% -11.42% <-Total Growth 10 Stock Price Growth -11.42%
Dividends on Shares $123.00 $131.40 $143.40 $153.60 $163.20 $172.80 $183.00 $196.80 $209.40 $216.00 $216.00 $243.60 $250.80 $254.40 $254.40 $254.40 $3,280.20 No of Years 25 Total Dividends 12/31/98
Paid  $3,049.80 $3,447.60 $3,985.80 $3,978.60 $3,358.20 $4,485.60 $4,867.20 $4,081.80 $4,401.00 $4,128.00 $5,373.00 $3,980.40 $3,870.00 $3,777.60 $3,777.60 $3,777.60 $3,870.00 No of Years 25 Worth $16.88
Total $7,150.20
Dividends on Shares $268.55 $286.89 $313.09 $335.36 $356.32 $377.28 $399.55 $429.68 $457.19 $471.60 $471.60 $531.86 $547.58 $555.44 $555.44 $555.44 $7,384.14 Divs Piad 30 Total Dividends 12/31/93
Paid  $6,658.73 $7,527.26 $8,702.33 $8,686.61 $7,332.07 $9,793.56 $10,626.72 $8,911.93 $9,608.85 $9,012.80 $11,731.05 $8,690.54 $8,449.50 $8,247.76 $8,247.76 $8,247.76 $8,449.50 Current Value 30 Worth $7.66
Total $15,833.64
Dividends on Shares $40.96 $43.52 $46.08 $48.80 $52.48 $55.84 $57.60 $57.60 $64.96 $66.88 $67.84 $67.84 $67.84 $534.72 No of Years 10 Total Dividends 12/31/13
Paid  $1,062.88 $1,060.96 $895.52 $1,196.16 $1,297.92 $1,088.48 $1,173.60 $1,100.80 $1,432.80 $1,061.44 $1,032.00 $1,007.36 $1,007.36 $1,007.36 $1,032.00 No of Years 10 Worth $66.43
Total $1,566.72
Graham No. AEPS $52.05 $59.75 $62.49 $68.97 $74.53 $74.90 $83.64 $90.34 $92.80 $79.08 $97.13 $102.27 $91.35 $90.93 $94.17 $96.38 46.19% <-Total Growth 10 Graham Price AEPS
Price/GP Ratio Med 1.06 0.88 0.93 0.97 0.88 0.83 0.81 0.85 0.77 0.78 0.71 0.77 0.71 0.67 0.80 <-Median-> 10 Price/GP Ratio
Price/GP Ratio High 1.17 0.95 1.02 1.08 0.95 0.96 1.00 0.94 0.82 0.97 0.84 0.92 0.81 0.71 0.95 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Low 0.95 0.80 0.85 0.87 0.82 0.70 0.63 0.77 0.72 0.59 0.57 0.63 0.61 0.62 0.66 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Close 1.01 0.91 1.01 1.00 0.83 0.96 1.00 0.78 0.81 0.70 0.84 0.64 0.61 0.69 0.67 0.67 0.82 <-Median-> 10 Price/GP Ratio
Prem/Disc Close 0.93% -9.20% 1.44% 0.07% -17.49% -3.77% -0.43% -21.80% -18.60% -30.01% -16.46% -35.61% -38.54% -30.76% -33.14% -33.03% -18.05% <-Median-> 10 Graham Price
Graham No. EPS $52.05 $59.13 $62.37 $68.61 $72.15 $75.23 $83.32 $88.48 $89.76 $78.64 $96.07 $99.34 $85.88 $90.93 $94.92 $96.91 37.70% <-Total Growth 10 Graham Price EPS
Price/GP Ratio Med 1.06 0.89 0.93 0.98 0.91 0.83 0.82 0.87 0.80 0.78 0.72 0.80 0.75 0.67 0.81 <-Median-> 10 Price/GP Ratio
Price/GP Ratio High 1.17 0.96 1.02 1.08 0.98 0.96 1.00 0.96 0.85 0.97 0.85 0.95 0.86 0.71 0.96 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Low 0.95 0.81 0.85 0.88 0.85 0.69 0.63 0.78 0.74 0.59 0.58 0.64 0.65 0.62 0.67 <-Median-> 10 Price/GP Ratio
Price/GP Ratio Close 1.01 0.92 1.02 1.01 0.85 0.96 1.00 0.80 0.84 0.70 0.84 0.66 0.65 0.69 0.66 0.67 0.84 <-Median-> 10 Price/GP Ratio
Prem/Disc Close 0.93% -8.25% 1.64% 0.60% -14.77% -4.19% -0.05% -20.15% -15.85% -29.61% -15.54% -33.71% -34.62% -30.76% -33.67% -33.39% -15.70% <-Median-> 10 Graham Price
Month, Year Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20 Dec-21 Dec-22 Dec-23 Dec-24 Dec-25 Dec-26 38.00 <Count Years> Month, Year
pre '98 Split
pre '04 Split
Price Close $50.83 $57.46 $66.43 $66.31 $55.97 $74.76 $81.12 $68.03 $73.35 $68.80 $89.55 $66.34 $64.50 $62.96 $62.96 $62.96 -2.91% <-Total Growth 10 Stock Price
Increase -10.98% 13.04% 15.61% -0.18% -15.59% 33.57% 8.51% -16.14% 7.82% -6.20% 30.16% -25.92% -2.77% -2.39% 0.00% 0.00% 11.78 <-Median-> 10 CAPE (10 Yr P/E)
P/E 11.00 11.01 12.90 11.72 9.87 12.96 12.50 9.98 10.98 12.98 11.63 8.27 11.16 9.72 8.92 8.55 -1.06% <-IRR #YR-> 5 Stock Price -5.19%
Trailing P/E 13.00 12.44 12.73 12.88 9.89 13.19 14.06 10.48 10.76 10.30 16.90 8.62 8.04 10.89 9.72 8.92 -0.29% <-IRR #YR-> 10 Stock Price -2.91%
CAPE (10 Yr P/E) 13.54 13.06 12.98 12.71 12.21 12.11 12.13 11.92 11.63 11.56 11.61 11.23 11.09 10.90 10.78 10.35 4.59% <-IRR #YR-> 5 Price & Dividend 22.64%
Median 10, 5 Yrs D.  per yr 4.99% 5.65% % Tot Ret 106.27% 123.07% T P/E 10.62 10.30 P/E:  11.39 11.16 4.70% <-IRR #YR-> 10 Price & Dividend 51.00%
Price 15 D.  per yr 6.19% % Tot Ret 57.87% CAPE Diff -17.50% 4.50% <-IRR #YR-> 15 Stock Price 93.64%
Price  20 D.  per yr 5.17% % Tot Ret 60.17% 3.42% <-IRR #YR-> 20 Stock Price 96.05%
Price  25 D.  per yr 5.48% % Tot Ret 49.87% 5.51% <-IRR #YR-> 25 Stock Price 282.11%
Price  30 D.  per yr 6.05% % Tot Ret 45.11% 7.36% <-IRR #YR-> 30 Stock Price 742.04%
Price  35 D.  per yr 6.85% % Tot Ret 44.49% 8.55% <-IRR #YR-> 35 Stock Price 1664.10%
Price  40 D.  per yr 5.90% % Tot Ret 42.68% 7.92% <-IRR #YR-> 38 Stock Price
Price & Dividend 15 10.69% <-IRR #YR-> 15 Price & Dividend 201.14%
Price & Dividend 20 8.60% <-IRR #YR-> 20 Price & Dividend 255.29%
Price & Dividend 25 10.99% <-IRR #YR-> 25 Price & Dividend 608.35%
Price & Dividend 30 13.41% <-IRR #YR-> 30 Price & Dividend 1481.56%
Price & Dividend 35 15.39% <-IRR #YR-> 35 Price & Dividend 3245.44%
Price & Dividend 40 13.82% <-IRR #YR-> 38 Price & Dividend
Price  5 -$68.03 $0.00 $0.00 $0.00 $0.00 $64.50 Price  5
Price 10 -$66.43 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $64.50 Price 10
Price & Dividend 5 -$68.03 $3.49 $3.60 $3.60 $4.06 $68.68 Price & Dividend 5
Price & Dividend 10 -$66.43 $2.56 $2.72 $2.88 $3.05 $3.28 $3.49 $3.60 $3.60 $4.06 $68.68 Price & Dividend 10
Price  15 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $64.50 Price  15
Price  20 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $64.50 Price  20
Price  25 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $64.50 Price  25
Price  30 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $64.50 Price  30
Price  35 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $64.50 Price  35
Price  40 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $64.50 Price  40
Price & Dividend 15 $2.05 $2.19 $2.39 $2.56 $2.72 $2.88 $3.05 $3.28 $3.49 $3.60 $3.60 $4.06 $68.68 Price & Dividend 15
Price & Dividend 20 $2.05 $2.19 $2.39 $2.56 $2.72 $2.88 $3.05 $3.28 $3.49 $3.60 $3.60 $4.06 $68.68 Price & Dividend 20
Price & Dividend 25 $2.05 $2.19 $2.39 $2.56 $2.72 $2.88 $3.05 $3.28 $3.49 $3.60 $3.60 $4.06 $68.68 Price & Dividend 25
Price & Dividend 30 $2.05 $2.19 $2.39 $2.56 $2.72 $2.88 $3.05 $3.28 $3.49 $3.60 $3.60 $4.06 $68.68 Price & Dividend 30
Price & Dividend 35 $2.05 $2.19 $2.39 $2.56 $2.72 $2.88 $3.05 $3.28 $3.49 $3.60 $3.60 $4.06 $68.68 Price & Dividend 35
Price & Dividend 40 $2.05 $2.19 $2.39 $2.56 $2.72 $2.88 $3.05 $3.28 $3.49 $3.60 $3.60 $4.06 $68.68 Price & Dividend 40
Month, Year Oct-11 Oct-12 Oct-13 Oct-14 Oct-15 Oct-16 Oct-17 Oct-18 Oct-19 Oct-20 Oct-21 Oct-22 Oct-23 Oct-24 Oct-25 Oct-26 38.00 <Count Years> Month, Year
pre '98 Split
pre '04 Split
Price Close $52.53 $54.25 $63.39 $69.02 $61.49 $72.08 $83.28 $70.65 $75.54 $55.35 $81.14 $65.85 $56.15 $62.96 $62.96 $64.55 -11.42% <-Total Growth 10 Stock Price
Increase -3.91% 3.27% 16.85% 8.88% -10.91% 17.22% 15.54% -15.17% 6.92% -26.73% 46.59% -18.84% -14.73% 12.13% 0.00% 2.53% -1.21% <-IRR #YR-> 10 Stock Price -11.42%
P/E 11.37 10.39 12.31 12.19 10.84 12.49 12.83 10.36 11.31 10.44 10.54 8.21 9.71 9.72 8.92 8.77 -4.49% <-IRR #YR-> 5 Stock Price -20.52%
Trailing P/E 13.43 11.74 12.14 13.40 10.86 12.71 14.43 10.89 11.08 8.29 15.31 8.55 7.00 10.89 9.72 9.14 4.24% <-IRR #YR-> 10 Price & Dividend 45.07%
Median 10, 5 Yrs D.  per yr 5.44% 5.85% % Tot Ret 128.46% 430.91% T P/E 10.98 8.55 P/E:  10.69 10.44 1.36% <-IRR #YR-> 5 Price & Dividend 10.91%
-$63.39 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $56.15
-$70.65 $0.00 $0.00 $0.00 $0.00 $56.15
-$63.39 $2.56 $2.72 $2.88 $3.05 $3.28 $3.49 $3.60 $3.60 $4.06 $60.33
-$70.65 $3.49 $3.60 $3.60 $4.06 $60.33
Price H/L Median $55.11 $52.47 $58.28 $67.22 $65.96 $62.15 $67.97 $77.01 $71.55 $61.61 $68.77 $79.22 $64.79 $60.50 2.53% 11.17% <-Total Growth 10 Stock Price
Increase 10.09% -4.79% 11.06% 15.34% -1.87% -5.78% 9.37% 13.30% -7.10% -13.89% 11.62% 15.20% -18.22% -6.61% 6.73% 1.06% <-IRR #YR-> 10 Stock Price 11.17%
P/E 11.93 10.05 11.32 11.88 11.63 10.77 10.47 11.29 10.71 11.62 8.93 9.88 11.21 9.34 9.26% -3.40% <-IRR #YR-> 5 Stock Price -15.87%
Trailing P/E 14.09 11.36 11.16 13.05 11.65 10.96 11.78 11.87 10.49 9.22 12.98 10.29 8.08 10.47 6.41% <-IRR #YR-> 10 Price & Dividend 72.62%
P/E on Run. 5 yr Ave 14.58 13.05 13.12 13.68 12.53 11.31 11.82 12.66 11.38 9.92 10.42 11.47 9.68 9.09 1.85% <-IRR #YR-> 5 Price & Dividend 12.97%
P/E on Run. 10 yr Ave 17.00 14.58 15.02 16.15 14.94 13.40 13.91 14.64 12.78 10.74 11.37 12.52 10.14 9.35 11.19 P/E Ratio Historical Median
Median 10, 5 Yrs D.  per yr 5.35% 5.25% % Tot Ret 83.39% 283.90% T P/E 11.31 10.29 P/E:  10.99 10.71 Count 38 Years of data
-$58.28 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $64.79
-$77.01 $0.00 $0.00 $0.00 $0.00 $64.79
-$58.28 $2.56 $2.72 $2.88 $3.05 $3.28 $3.49 $3.60 $3.60 $4.06 $68.97
-$77.01 $3.49 $3.60 $3.60 $4.06 $68.97
High Months Feb 11 Mar 12 Oct 13 Aug 14 Nov 14 Oct 16 Oct 17 Nov 17 Sep 19 Nov  19 Jun 21 Feb 22 Feb 23 Dec 23
pre '98 Split
pre '04 Split
Price High $60.99 $57.05 $63.54 $74.19 $70.85 $72.23 $83.28 $84.87 $76.25 $76.50 $81.95 $94.49 $74.16 $64.50 16.71% <-Total Growth 10 Stock Price
Increase 9.85% -6.46% 11.38% 16.76% -4.50% 1.95% 15.30% 1.91% -10.16% 0.33% 7.12% 15.30% -21.52% -13.03% 1.56% <-IRR #YR-> 10 Stock Price 16.71%
P/E 13.20 10.93 12.34 13.11 12.50 12.52 12.83 12.44 11.41 14.43 10.64 11.78 12.83 9.95 -2.66% <-IRR #YR-> 5 Stock Price -12.62%
Trailing P/E 15.60 12.35 12.17 14.41 12.52 12.74 14.43 13.08 11.18 11.45 15.46 12.27 9.25 11.16 13.11 P/E Ratio Historical Median
Median 10, 5 Yrs T P/E 12.63 11.45 P/E:  12.51 11.78 14.42 P/E Ratio Historical High
-$63.54 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $74.16
-$84.87 $0.00 $0.00 $0.00 $0.00 $74.16
Low Months Aug 11 Dec 11 Nov 12 Feb 14 Jan 15 Feb 16 Feb 17 Oct 18 Dec 19 Mar 20 Nov 20 Oct 22 Oct 23 Nov 23
Price Low $49.23 $47.89 $53.01 $60.24 $61.06 $52.06 $52.66 $69.15 $66.84 $46.72 $55.59 $63.95 $55.41 $56.50 4.53% <-Total Growth 10 Stock Price
Increase 10.38% -2.72% 10.69% 13.64% 1.36% -14.74% 1.15% 31.31% -3.34% -30.10% 18.99% 15.04% -13.35% 1.97% 0.44% <-IRR #YR-> 10 Stock Price 4.53%
P/E 10.66 9.17 10.29 10.64 10.77 9.02 8.11 10.14 10.01 8.82 7.22 7.97 9.59 8.72 -4.33% <-IRR #YR-> 5 Stock Price -19.87%
Trailing P/E 12.59 10.37 10.16 11.70 10.79 9.18 9.13 10.65 9.80 6.99 10.49 8.31 6.91 9.78 10.14 P/E Ratio Historical Median
Median 10, 5 Yrs T P/E 9.49 8.31 P/E:  9.30 8.82 7.18 P/E Ratio Historical Low
-$53.01 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $55.41
-$69.15 $0.00 $0.00 $0.00 $0.00 $55.41
Free Cash Flow $11,000 $6,000 $9,000 $5,000 $16,000 $3,751 $10,584 $17,395 -$12,211 $55,893 -$13,270 $16,370 $31,280 $31,280 247.56% <-Total Growth 10 Free Cash Flow
Change -45.45% 50.00% -44.44% 220.00% -76.56% 182.16% 64.35% -170.20% 557.73% -123.74% 223.36% 91.08% 0.00% 12.45% <-IRR #YR-> 5 Free Cash Flow MS 79.82%
FCF/CF from Op Ratio 10.35 0.74 0.92 1.01 1.16 0.92 0.64 0.98 1.02 0.99 1.04 0.97 0.99 0.99 13.27% <-IRR #YR-> 10 Free Cash Flow MS 247.56%
Dividends paid $2,200 $2,493 $3,075 $3,265 $3,406 $3,598 $3,668 $3,985 $4,260 $4,559 $4,604 $5,118 $5,422 $5,148 76.33% <-Total Growth 10 Dividends paid
Percentage paid 95.92% 34.66% 22.91% -34.89% 8.16% -34.69% 31.26% 17.33% 16.46% $0.20 <-Median-> 8 Percentage paid
5 Year Coverage 26.61% 36.09% 35.10% 30.70% 20.44% 5 Year Coverage
Dividend Coverage Ratio 1.04 2.89 4.37 -2.87 12.26 -2.88 3.20 5.77 6.08 3.04 <-Median-> 8 Dividend Coverage Ratio
5 Year of Covereage 3.76 2.77 2.85 3.26 4.89 5 Year of Coverage
-$17,395 $0 $0 $0 $0 $31,280
-$9,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $31,280
Free Cash Flow WSJ $7,281 $11,946 $8,159 $12,128 $1,479 $20,898 $17,693 $10,612 $11,028 $11,028 51.46% <-Total Growth 8 Free Cash Flow
Change 64.07% -31.70% 48.65% -87.81% 1312.98% -15.34% -40.02% 3.92% 0.00% -1.88% <-IRR #YR-> 5 Free Cash Flow WSJ -9.07%
FCF/CF from Op Ratio 0.53 2.91 0.49 0.68 -0.12 0.37 -1.38 0.63 0.35 0.35 5.33% <-IRR #YR-> 8 Free Cash Flow WSJ #DIV/0!
Dividends paid $3,406 $3,598 $3,668 $3,985 $4,260 $4,559 $4,604 $5,118 $5,422 $5,148 59.19% <-Total Growth 8 Dividends paid
Percentage paid 46.78% 30.12% 44.96% 32.86% 288.03% 21.82% 26.02% 48.23% 49.17% 46.68% $0.45 <-Median-> 9 Percentage paid
5 Year Coverage 46.15% 36.75% 34.92% 35.86% 38.83% 34.87% 5 Year Coverage
Dividend Coverage Ratio 2.14 3.32 2.22 3.04 0.35 4.58 3.84 2.07 2.03 2.14 2.22 <-Median-> 9 Dividend Coverage Ratio
5 Year of Coverage 2.17 2.72 2.86 2.79 2.58 2.87 5 Year of Coverage
-$12,128 $0 $0 $0 $0 $11,028
-$7,281 $0 $0 $0 $0 $0 $0 $0 $11,028
Market Cap $M $57,204 $64,252 $76,612 $83,969 $73,969 $87,065 $99,872 $86,690 $91,867 $67,055 $98,612 $78,452 $68,169 $76,436 $76,436 $78,367 -11.02% <-Total Growth 10 Market Cap
Diluted # of Shares in Million 1,074 1,160 1,209 1,222 1,232 1,226 1,223 1,229 1,251 1,243 1,225 1,208 1,204 1,204 -0.41% <-Total Growth 10 Diluted
Change 3.87% 8.01% 4.22% 1.08% 0.82% -0.49% -0.24% 0.49% 1.79% -0.64% -1.45% -1.39% -0.33% 0.00% -0.29% <-Median-> 10 Change
Difference Diluted/Basic -0.2% -2.3% -1.2% -0.7% -1.8% -1.8% -1.6% -1.3% -2.3% -2.5% -0.9% -0.7% -0.6% -0.6% Difference Diluted/Basic
Average # of Shares in Million 1,072 1,133 1,195 1,214 1,210 1,204 1,203 1,213 1,222 1,212 1,214 1,199 1,197 1,197 0.17% <-Total Growth 10 Average
Change 3.88% 5.69% 5.47% 1.59% -0.33% -0.50% -0.08% 0.83% 0.74% -0.82% 0.17% -1.24% -0.17% 0.00% -0.12% <-Median-> 10 Change
Difference Basic/Outstanding 1.6% 4.5% 1.1% 0.2% -0.6% 0.3% -0.3% 1.2% -0.5% 0.0% 0.1% -0.6% 1.4% 1.4% 0.03% <-Median-> 10 Difference Basic/Outstanding
pre '98 Split
pre '04 Split
# of Share in Millions 1,089.0 1,184.4 1,208.6 1,216.6 1,202.9 1,207.9 1,199.2 1,227.0 1,216.1 1,211.5 1,215.3 1,191.4 1,214.0 1,214.0 1,214.0 1,214.0 0.05% <-IRR #YR-> 10 Shares 0.45%
Change 4.42% 8.76% 2.05% 0.66% -1.12% 0.41% -0.72% 2.32% -0.89% -0.38% 0.32% -1.97% 1.90% 0.00% 0.00% 0.00% -0.21% <-IRR #YR-> 5 Shares -1.06%
Cash Flow from Operations $M $1,063 $8,069 $9,744 $4,944 $13,847 $4,099 $16,584 $17,811 -$12,025 $56,664 -$12,807 $16,943 $31,724 $31,724 <-12 mths 225.57% <-Total Growth 10 Cash Flow
Increase 136.10% 659.08% 20.76% -49.26% 180.08% -70.40% 304.59% 7.40% -167.51% 571.22% -122.60% 232.29% 87.24% 0.00% <-12 mths DRIP, SO S. Issues Buy Backs
5 year Running Average $1,826 $3,038 $977 $4,175 $7,533 $8,141 $9,844 $11,457 $8,063 $16,627 $13,245 $13,317 $16,100 $24,850 <-12 mths 1548.22% <-Total Growth 10 CF 5 Yr Running 10 yr
CFPS $0.98 $6.81 $8.06 $4.06 $11.51 $3.39 $13.83 $14.52 -$9.89 $46.77 -$10.54 $14.22 $26.13 $26.13 <-12 mths 224.11% <-Total Growth 10 Cash Flow per Share Total Gr.
Increase 134.57% 597.94% 18.34% -49.59% 183.25% -70.52% 307.51% 4.97% -168.12% 573.03% -122.53% 234.96% 83.74% 0.00% <-12 mths 12.53% <-IRR #YR-> 10 Cash Flow 225.57%
CFPS 5 yrs running $1.93 $2.88 $0.45 $3.42 $6.29 $6.77 $8.17 $9.46 $6.67 $13.72 $10.94 $11.02 $13.34 $20.54 <-12 mths 12.24% <-IRR #YR-> 5 Cash Flow 78.11%
P/CF on Med Price 56.46 7.70 7.23 16.54 5.73 18.31 4.92 5.31 -7.24 1.32 -6.53 5.57 2.48 2.32 <-12 mths 12.48% <-IRR #YR-> 9 Cash Flow per Share 224.11%
P/CF on Closing Price 53.81 7.96 7.86 16.98 5.34 21.24 6.02 4.87 -7.64 1.18 -7.70 4.63 2.15 2.41 <-12 mths 12.48% <-IRR #YR-> 5 Cash Flow per Share 80.02%
-52.85% Diff M/C 40.35% <-IRR #YR-> 10 CFPS 5 yr Running 2865.28%
Excl.Working Capital CF $4,531 -$10,484 -$12,831 -$8,028 -$17,680 -$8,454 -$21,043 -$22,601 $6,653 -$64,586 $9,860 -$20,620 -$38,758 $0 <-12 mths 7.11% <-IRR #YR-> 5 CFPS 5 yr Running 40.97%
CF fr Op $M WC $5,594 -$2,415 -$3,087 -$3,084 -$3,833 -$4,355 -$4,459 -$4,790 -$5,372 -$7,922 -$2,947 -$3,677 -$7,034 $31,724 <-12 mths -127.86% <-Total Growth 10 Cash Flow less WC
Increase 9.04% -143.17% -27.83% 0.10% -24.29% -13.62% -2.39% -7.42% -12.15% -47.47% 62.80% -24.77% -91.30% 551.01% <-12 mths 8.58% <-IRR #YR-> 10 Cash Flow less WC -127.86%
5 year Running Average $4,407 $3,082 $1,852 $428 -$1,365 -$3,355 -$3,764 -$4,104 -$4,562 -$5,380 -$5,098 -$4,942 -$5,390 $2,029 <-12 mths 7.99% <-IRR #YR-> 5 Cash Flow less WC -46.85%
CFPS Excl. WC $5.14 -$2.04 -$2.55 -$2.53 -$3.19 -$3.61 -$3.72 -$3.90 -$4.42 -$6.54 -$2.42 -$3.09 -$5.79 $26.13 <-12 mths #NUM! <-IRR #YR-> 10 CF less WC 5 Yr Run -391.03%
Increase 4.43% -139.69% -25.26% 0.75% -25.70% -13.15% -3.13% -4.99% -13.16% -48.03% 62.92% -27.28% -87.73% 551.01% <-12 mths 5.60% <-IRR #YR-> 5 CF less WC 5 Yr Run -31.34%
5 year Running Average $4.27 $3.01 $1.88 $0.59 -$1.04 -$2.78 -$3.12 -$3.39 -$3.77 -$4.44 -$4.20 -$4.07 -$4.45 $1.66 <-12 mths 6.16% <-IRR #YR-> 10 CFPS - Less WC -126.83%
P/CF on Med Price 10.73 -25.73 -22.82 -26.52 -20.70 -17.24 -18.28 -19.73 -16.20 -9.42 -28.36 -25.67 -11.18 2.32 <-12 mths 8.22% <-IRR #YR-> 5 CFPS - Less WC -48.42%
P/CF on Closing Price 10.23 -26.61 -24.82 -27.23 -19.30 -19.99 -22.40 -18.10 -17.10 -8.46 -33.46 -21.34 -9.69 2.41 <-12 mths #NUM! <-IRR #YR-> 10 5 yr Running -336.74%
*Operational Cash Flow per share  CF/CF-WC P/CF Med 10 yr 5.11 5 yr  1.32 P/CF Med 10 yr -19.00 5 yr  -16.20 -112.68% Diff M/C 5.60% <-IRR #YR-> 5 5 yr Running -31.35%
-$1,209 $0 $0 $0 $0 $0 $0 $0 $0 $0 $1,214 Shares
-$1,227 $0 $0 $0 $0 $1,214 Shares
-$9,744 $0 $0 $0 $0 $0 $0 $0 $0 $0 $31,724 Cash Flow
-$17,811 $0 $0 $0 $0 $31,724 Cash Flow
-$8.06 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $26.13 Cash Flow per Share
-$14.52 $0.00 $0.00 $0.00 $0.00 $26.13 Cash Flow per Share
-$0.45 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $13.34 CFPS 5 yr Running
-$9.46 $0.00 $0.00 $0.00 $0.00 $13.34 CFPS 5 yr Running
$3,087 $0 $0 $0 $0 $0 $0 $0 $0 $0 -$7,034 Cash Flow less WC
$4,790 $0 $0 $0 $0 -$7,034 Cash Flow less WC
-$1,852 $0 $0 $0 $0 $0 $0 $0 $0 $0 -$5,390 CF less WC 5 Yr Run
$4,104 $0 $0 $0 $0 -$5,390 CF less WC 5 Yr Run
$3.19 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 -$5.79 CFPS - Less WC
$3.90 $0.00 $0.00 $0.00 $0.00 -$5.79 CFPS - Less WC
-$1.88 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 -$4.45 CFPS 5 yr Running
$3.39 $0.00 $0.00 $0.00 $0.00 -$4.45 CFPS 5 yr Running
Changes in operating assets and liabilities:
Trading assets -$11,976 -$6,793 -$13,848 $20,302 -$10,044 $8,377 $111 -$27,514 $9,945 -$33,995 $37,501 -$2,689
Securities purchased under resale agreements and securities borrowed -$13,322 -$9,866 -$7,526 $13,991 -$5,363 -$4,631 -$7,721 -$27,235 $12,781 -$14,202 -$41,438 -$18,966
Loans -$33,351 -$16,040 -$16,785 -$22,942 -$20,355 -$32,589 -$31,848 -$44,337 -$25,486 -$55,748 -$97,161 $4,414
Deposits $36,878 $6,778 $20,224 $13,915 $6,702 $27,516 $40,338 $60,705 $27,982 $78,569 $95,905 $19,478
Obligations related to securities sold short $1,118 $3,560 $5,458 $1,506 -$8,101 $4,007 $7,533 $239 -$1,694 $1,195 $10,078 -$1,292 -$4,616
Obligations related to assets sold under repurchase agreements and securities lent $18,936 $17,455 $7,306 -$18,982 $20,865 $849 $4,387 $22,727 $11,722 -$7,709 $10,838 $15,937
Net derivative financial instruments -$10,772 $2,206 $296 -$1,147 $2,442 -$3,806 -$391 $440 $1,964 -$1,949 $2,123 $115 $2,080
$9,509
Other, net -$5,017 -$2,070 $4,605 $7,214 $4,707 $1,856 -$1,997 -$188 -$8,881 $7,527 -$5,300 -$1,404 -$219
Dividends received $1,026 $1,139 $1,063 $1,147 $873 $1,600 $332 $520 $824 $969 $1,156 $1,299
Interest received -$176 $16,224 $18,005 $18,438 $19,145 $21,099 $23,649 $27,384 $32,696 $29,572 $25,425 $31,931 $55,617
Interest paid -$7,293 -$7,607 -$7,509 -$7,262 -$7,787 -$8,730 -$11,400 -$15,322 -$13,042 -$8,766 -$13,336 -$34,731
Income tax paid -$1,401 -$1,520 -$1,401 -$1,985 -$1,471 -$2,012 -$1,938 -$2,958 -$1,962 -$2,693 -$3,503 -$2,139
Net cash from/(used in) operating activities
Provisions for credit losses $1,252 $1,296 $1,703 $1,942 $2,412 $2,249 $2,611 $3,027 $6,084 $1,808 $1,382 $3,422
Net gain on sale of investment securities $1,046 -$185 -$375 -$741 -$639 -$534 -$380 -$146 -$351 -$607 -$419 -$74 -$129
Realized gain on sale of an investment in an associate -$239 -$469
                         
Sum -$4,531 $10,484 $12,831 $8,028 $17,680 $8,454 $21,043 $22,601 -$6,653 $64,586 -$9,860 $20,620 $38,758
Google --> TD Bank $9,133 $12,136 $8,028 $17,680 $8,454 $21,043 $22,601 -$6,653 $64,586 -$9,860 $20,620 $38,758
Difference $1,351 $695 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
TD Bank $8,028 $20,259 $8,891 $21,043
Difference $0 -$2,579 -$437 $0
For banks, use Net Income, not CF
OPM 30.53% 30.57% 29.07% 29.30% 28.68% 26.52% 29.00% 29.06% 26.45% 21.00% 30.05% 30.74% 21.64% 20.55% -26.15% <-Total Growth 10 OPM
Increase 7.87% 0.13% -4.90% 0.78% -2.12% -7.54% 9.38% 0.18% -8.98% -20.58% 43.06% 2.29% -29.60% -5.04% should be zero, it is a check on calculations
Diff from Ave 9.1% 9.2% 3.9% 4.7% 2.5% -5.3% 3.6% 3.8% -5.5% -24.9% 7.4% 9.8% -22.7% -26.6% 0.03 <-Median-> 10 OPM
*Operational Profit Margin (Net income/Revenue) Ratio OPM 10 Yrs 27.99% 5 Yrs 27.46% Should increase or be stable.
Covering Assets $460,532 $522,522 $564,195 $605,214 $646,442 $648,137 $672,540 $734,621 $937,540 $1,074,944 $1,115,616 $1,265,599 $1,245,111 $1,245,111 105.73% <-Total Growth 10 Covering Assets Type
Change 6.90% 13.46% 7.98% 7.27% 6.81% 0.26% 3.77% 9.23% 27.62% 14.66% 3.78% 13.44% -1.62% 0.00% 7.04% <-Median-> 10 Change Lg Term R A
Debt/Assets Coverage Ratio 0.91 0.89 0.92 0.92 0.93 0.94 0.93 0.92 0.78 0.70 0.67 0.72 0.76 0.76 0.85 <-Median-> 10 Debt/Assets Coverage Ratio Lg Term R
Debt/Total Assets Ratio 0.73 0.69 0.70 0.69 0.70 0.68 0.68 0.68 0.68 0.66 0.63 0.68 0.68 0.68 0.68 <-Median-> 10 Debt/Total Assets Ratio Intang/GW
Long Term Debt $421,335 $463,609 $518,061 $554,017 $600,919 $611,877 $625,367 $676,534 $733,390 $750,838 $750,838 $916,181 $952,333 $952,333 71.90% <-Total Growth 10 Debt Liquidity
Change 9.63% 10.03% 11.75% 6.94% 8.47% 1.82% 2.20% 8.18% 8.40% 2.38% 0.00% 22.02% 3.95% 0.00% 5.44% <-Median-> 10 Change Liq. + CF
Debt/Market Cap Ratio 7.37 7.22 6.76 6.60 8.12 7.03 6.26 7.80 7.98 11.20 7.61 11.68 13.97 12.46 7.89 <-Median-> 10 Debt/Market Cap Ratio Debt Ratio
Assets/Current Liabilities Ratio 19.85 21.04 23.32 23.16 25.87 27.43 25.65 21.19 25.87 22.44 23.74 25.14 23.55 23.55 24.44 <-Median-> 10 Assets/Current Liab Ratio Leverage
Current Liabilities/Asset Ratio 0.05 0.05 0.04 0.04 0.04 0.04 0.04 0.05 0.04 0.04 0.04 0.04 0.04 0.04 0.04 <-Median-> 10 Current Liab/Asset Ratio D/E Ratio
Debt to Cash Flow (Years) 396.36 57.46 53.17 112.06 43.40 149.27 37.71 37.98 0.00 13.25 0.00 54.07 30.02 30.02 37.85 <-Median-> 10 Debt to Cash Flow (Years)
Intangibles starts in 2018 $7,712 $7,834 $7,736 $7,756 $7,959 $8,012 $8,012 3.89% <-Total Growth 5 Intangibles
Goodwill & Intangibles $7,639 $8,692 $10,704 $10,884 $11,449 $12,141 $12,106 $10,007 $9,631 $9,279 $8,848 $8,874 $9,181 $9,181 -15.65% <-Total Growth 10 Goodwill & Intangibles
Total $7,639 $8,692 $10,704 $10,884 $11,449 $12,141 $12,106 $17,719 $17,465 $17,015 $16,604 $16,833 $17,193 $17,193 57.97% <-Total Growth 10 Total
Change 108.66% 13.78% 23.15% 1.68% 5.19% 6.04% -0.29% 46.37% -1.43% -2.58% -2.42% 1.38% 2.14% 0.00% 1.53% <-Median-> 10 Change
Intangible/Market Cap Ratio 0.13 0.14 0.14 0.13 0.15 0.14 0.12 0.20 0.19 0.25 0.17 0.21 0.25 0.22 0.18 <-Median-> 10 Intangible/Market Cap Ratio
Current Assets $45,222 $54,804 $53,338 $56,730 $73,927 $46,344 $59,663 $62,269 $46,720 $76,460 $86,323 $65,895 $90,312 $90,312 Liquidity ratio of 1.5 and up, best
Current Liabilities $28,984 $31,753 $31,896 $34,785 $33,104 $32,673 $35,687 $47,132 $41,989 $50,634 $49,918 $53,680 $59,906 $59,906 1.51 <-Median-> 10 Ratio
Liquidity Ratio 1.56 1.73 1.67 1.63 2.23 1.42 1.67 1.32 1.11 1.51 1.73 1.23 1.51 1.51 1.51 <-Median-> 5 Ratio
Liq. with CF aft div 1.52 1.90 1.89 1.68 2.55 1.44 2.03 1.61 1.01 2.54 1.59 1.45 1.95 1.95 1.59 <-Median-> 5 Ratio
Liq. CF re  Inv+Div  0.70 1.40 1.71 1.54 1.81 1.33 1.51 1.25 1.01 1.20 1.59 1.20 1.30 1.95 1.20 <-Median-> 5 Ratio
Banks are usually 1.04 or 1.05
Assets $575,256 $668,044 $743,788 $805,666 $856,497 $896,266 $915,273 $998,493 $1,086,161 $1,136,466 $1,184,844 $1,349,418 $1,410,789 $1,410,789 Debt Ratio of 1.5 and up, best
Liabilities $541,856 $626,665 $697,237 $756,455 $803,018 $838,445 $853,648 $930,813 $1,015,969 $1,065,963 $1,111,952 $1,274,669 $1,332,122 $1,332,122 1.07 <-Median-> 10 Ratio
Debt Ratio 1.06 1.07 1.07 1.07 1.07 1.07 1.07 1.07 1.07 1.07 1.07 1.06 1.06 1.06 1.07 <-Median-> 5 Ratio
Estimates BVPS $59.20 $62.30 $65.70 Estimates Estimates BVPS
Estimate Book Value $71,871.4 $75,635.0 $79,762.7 Estimates Estimate Book Value
P/B Ratio (Close) 1.06 1.01 0.98 Estimates P/B Ratio (Close)
Difference from 10 year median -27.06% Diff M/C Estimates Difference from 10 yr med.
Total Book Value $33,400 $41,379 $46,551 $49,211 $53,479 $57,821 $61,625 $67,680 $70,192 $70,503 $72,892 $74,749 $78,667 $78,667 68.99% <-Total Growth 10 Book Value
Non-Cont. Int. $640 $1,743 $1,898 $1,312 $1,460 $1,570 $1,592 $2,452 $2,670 $2,376 $2,090 $1,524 $1,739 $1,739 -8.38% <-Total Growth 10 NCI
Pref Shares $4,384 $4,384 $4,084 $2,934 $2,934 $3,594 $3,019 $2,624 $2,324 $5,308 $6,052 $8,075 $8,075 $8,075 97.72% <-Total Growth 10 Pref Shares
Book Value $28,376 $35,252 $40,569 $44,965 $49,085 $52,657 $57,014 $62,604 $65,198 $62,819 $64,750 $65,150 $68,853 $68,853 $68,853 $68,853 69.72% <-Total Growth 10 Book Value per Share
Book Value per Share $26.06 $29.76 $33.57 $36.96 $40.80 $43.59 $47.54 $51.02 $53.61 $51.85 $53.28 $54.68 $56.71 $56.71 $56.71 $56.71 68.96% <-Total Growth 10 Book Value per Share
Change 14.88% 14.23% 12.78% 10.11% 10.40% 6.84% 9.06% 7.32% 5.08% -3.28% 2.75% 2.64% 3.71% 0.00% 0.00% 0.00% -23.86% P/B Ratio Current/10 Year Median
P/B Ratio (Median) 2.11 1.76 1.74 1.82 1.62 1.43 1.43 1.51 1.33 1.19 1.29 1.45 1.14 1.07 0.00 0.00 1.71 P/B Ratio Historical Median
P/B Ratio (Close) 2.02 1.82 1.89 1.87 1.51 1.65 1.75 1.38 1.41 1.07 1.52 1.20 0.99 1.11 1.11 1.14 5.38% <-IRR #YR-> 10 Book Value 68.96%
Change -16.36% -9.59% 3.61% -1.11% -19.30% 9.72% 5.94% -20.95% 1.76% -24.24% 42.68% -20.93% -17.78% 12.13% 0.00% 2.53% 2.14% <-IRR #YR-> 5 Book Value 11.16%
Leverage (A/BK) 17.22 16.14 15.98 16.37 16.02 15.50 14.85 14.75 15.47 16.12 16.25 18.05 17.93 17.93 16.07 <-Median-> 10 Leverage (A/BK)
Debt/Equity Ratio 16.22 15.14 14.98 15.37 15.02 14.50 13.85 13.75 14.47 15.12 15.25 17.05 16.93 16.93 15.07 <-Median-> 10 Debt/Eq Ratio
Sharerholders Equity (Assets less liabilities) P/BV 10 yr Med 1.46 5 yr Med 1.20 -23.86% Diff M/C 19.16 Historical Leverage (A/BK)
-$33.57 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $56.71
-$51.02 $0.00 $0.00 $0.00 $0.00 $56.71
Comprehensive Income $4,601 $6,907 $7,266 $7,881 $8,649 $7,139 $7,534 $7,920 $8,173 $4,017 $6,615 $8,585 $8,028 10.49% <-Total Growth 10 Comprehensive Income
NCI $93 $173 $234 $249 $124 $237 $192 $65 $205 -$93 $125 $233 $327 39.74% <-Total Growth 10 NCI
Capital Inst Equity Holders $25 $31 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Capital Inst Equity Holders
Preferred $216 $220 $217 $155 $117 $130 $129 $187 $182 $196 $233 $260 $419 Preferred
Shareholders $4,292 $6,489 $6,784 $7,477 $8,408 $6,772 $7,213 $7,668 $7,786 $3,914 $6,257 $8,092 $7,282 7.34% <-Total Growth 10 Shareholders
Increase 13.34% 51.19% 4.55% 10.22% 12.45% -19.46% 6.51% 6.31% 1.54% -49.73% 59.86% 29.33% -10.01% 1.5% <-Median-> 5 Comprehensive Income
5 Yr Running Average $3,174 $4,106 $4,783 $5,766 $6,690 $7,186 $7,331 $7,508 $7,569 $6,671 $6,568 $6,743 $6,666 0.71% <-IRR #YR-> 10 Comprehensive Income 7.34%
ROE 12.9% 15.7% 14.6% 15.2% 15.7% 11.7% 11.7% 11.3% 11.1% 5.6% 8.6% 10.8% 9.3% -1.03% <-IRR #YR-> 5 Comprehensive Income -5.03%
5Yr Median 12.9% 13.4% 13.4% 14.6% 15.2% 15.2% 14.6% 11.7% 11.7% 11.3% 11.1% 10.8% 9.3% 3.38% <-IRR #YR-> 10 5 Yr Running Average 39.38%
% Difference from NI -4.6% -1.4% -0.7% -0.2% 1.7% -1.6% -2.1% -2.0% -1.5% -4.9% -5.9% -4.0% -0.9% -2.35% <-IRR #YR-> 5 5 Yr Running Average -11.21%
Median Values Diff 5, 10 yr -1.8% -4.0% 9.3% <-Median-> 5 Return on Equity
-$6,784 $0 $0 $0 $0 $0 $0 $0 $0 $0 $7,282
-$7,668 $0 $0 $0 $0 $7,282
-$4,783 $0 $0 $0 $0 $0 $0 $0 $0 $0 $6,666
-$7,508 $0 $0 $0 $0 $6,666
Current Liability Coverage Ratio 0.19 -0.08 -0.10 -0.09 -0.12 -0.13 -0.12 -0.10 -0.13 -0.16 -0.06 -0.07 -0.12 0.53   CFO / Current Liabilities
5 year Median -0.09 -0.10 -0.12 -0.12 -0.12 -0.13 -0.12 -0.10 -0.12 -0.07 -0.12 <-Median-> 5 Current Liability Cov Ratio
Asset Efficiency Ratio 0.97% -0.36% -0.42% -0.38% -0.45% -0.49% -0.49% -0.48% -0.49% -0.70% -0.25% -0.27% -0.50% 2.25% CFO / Total Assets
5 year Median 0.97% 0.81% 0.81% -0.36% -0.38% -0.42% -0.45% -0.48% -0.49% -0.49% -0.49% -0.48% -0.49% -0.27% -0.5% <-Median-> 5 Return on Assets 
Return on Assets ROA 0.86% 0.90% 0.83% 0.86% 0.81% 0.78% 0.86% 0.84% 0.76% 0.58% 0.79% 0.72% 0.50% 0.49% Net  Income/Assets Return on Assets
5Yr Median 0.77% 0.77% 0.83% 0.86% 0.86% 0.83% 0.83% 0.84% 0.81% 0.78% 0.79% 0.76% 0.72% 0.58% 0.7% <-Median-> 5 Asset Efficiency Ratio
Return on Equity ROE 17.48% 17.09% 15.29% 15.38% 14.05% 13.27% 13.81% 13.36% 12.59% 10.48% 14.50% 14.82% 10.15% 10.02% Net Inc/ Shareholders' equity Return on Equity
5Yr Median 17.07% 17.07% 17.07% 17.07% 15.38% 15.29% 14.05% 13.81% 13.36% 13.27% 13.36% 13.36% 12.59% 10.48% 12.6% <-Median-> 5 Return on Equity
$7,260 <-12 mths 3.85%
Net Income $5,268 $6,466 $6,697 $7,298 $7,213 $7,368 $8,243 $8,724 $8,798 $6,853 $9,955 $10,174 $7,528 Net Income
NCI $93 $198 $244 $227 $199 $251 $238 $176 $408 $75 $331 $258 $118 NCI
Capital Inst Equity Holders $0 $25 $31 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Preferred $216 $220 $217 $155 $117 $130 $129 $187 $182 $196 $233 $260 $419
Shareholders $4,959 $6,023 $6,205 $6,916 $6,897 $6,987 $7,876 $8,361 $8,208 $6,582 $9,391 $9,656 $6,991 $6,901 $7,648 $8,979 12.67% <-Total Growth 10 Shareholders
Increase 22.81% 21.46% 3.02% 11.46% -0.27% 1.30% 12.72% 6.16% -1.83% -19.81% 42.68% 2.82% -27.60% -1.29% 10.82% 17.40% EPS/CF Ratio should not be higher than 1.00
5 Yr Running Average $3,877 $4,283 $4,917 $5,628 $6,200 $6,606 $6,976 $7,407 $7,666 $7,603 $8,084 $8,440 $8,166 $7,904 $8,117 $8,035 1.20% <-IRR #YR-> 10 Net Income 12.67%
Operating Cash Flow $1,063 $8,069 $9,744 $4,944 $13,847 $4,099 $16,584 $17,811 -$12,025 $56,664 -$12,807 $16,943 $31,724 -3.52% <-IRR #YR-> 5 Net Income -16.39%
Investment Cash Flow -$33,778 -$11,334 -$3,228 -$3,228 -$13,509 -$2,754 -$12,540 -$13,725 $15,218 -$56,459 $14,697 -$11,293 -$30,040 5.20% <-IRR #YR-> 10 5 Yr Running Aveage 66.06%
Total Accruals $37,674 $9,288 -$311 $5,200 $6,559 $5,642 $3,832 $4,275 $5,015 $6,377 $7,501 $4,006 $5,307 1.97% <-IRR #YR-> 5 5 Yr Running Aveage 10.24%
Total Assets $575,256 $668,044 $743,788 $805,666 $856,497 $896,266 $915,273 $998,493 $1,086,161 $1,136,466 $1,184,844 $1,349,418 $1,410,789 Balance Sheet Assets
Accruals Ratio 6.55% 1.39% -0.04% 0.65% 0.77% 0.63% 0.42% 0.43% 0.46% 0.56% 0.63% 0.30% 0.38% 0.46% <-Median-> 5 Ratio
EPS/CF Ratio 0.90 -2.56 -2.02 -2.23 -1.78 -1.60 -1.75 -1.75 -1.51 -0.81 -3.18 -2.60 -1.00 -1.75 <-Median-> 10 EPS/CF Ratio
-$6,205 $0 $0 $0 $0 $0 $0 $0 $0 $0 $6,991
-$8,361 $0 $0 $0 $0 $6,991
-$4,917 $0 $0 $0 $0 $0 $0 $0 $0 $0 $8,166
-$7,407 $0 $0 $0 $0 $8,166
Change in Close -3.91% 3.27% 16.85% 8.88% -10.91% 17.22% 15.54% -15.17% 6.92% -26.73% 46.59% -18.84% -14.73% 12.13% 0.00% 2.53% Count 29 Years of data
up/down down down Count 10 34.48%
Meet Prediction? Yes % right Count 2 20.00%
Financial Cash Flow $33,338 $4,095 -$7,205 -$4,186 $263 -$1,196 -$2,932 -$2,870 -$1,288 $143 -$2,777 -$4,579 -$2,766 C F Statement  Financial Cash Flow
Total Accruals $4,336 $5,193 $6,894 $9,386 $6,296 $6,838 $6,764 $7,145 $6,303 $6,234 $10,278 $8,585 $8,073 Accruals
Accruals Ratio 0.75% 0.78% 0.93% 1.16% 0.74% 0.76% 0.74% 0.72% 0.58% 0.55% 0.87% 0.64% 0.57% Ratio
Cash Flow 623.00 830.00 -689.00 -2,470.00 601.00 149.00 1,112.00 1,216.00 1,905.00 348.00 -887.00 1,071.00 -1,082.00 Cash Flow
Exch Rate Changes -59.00 -88.00 102.00 207.00 305.00 -18.00 -142.00 -44.00 2.00 -129.00 -543.00 301.00 190.00 Exch Rate Changes
Net Cash Flow 564.00 742.00 -587.00 -2,263.00 906.00 131.00 970.00 1,172.00 1,907.00 219.00 -1,430.00 1,372.00 -892.00 Net Cash Flow
Per share $0.57 $0.70 -$0.57 -$2.03 $0.50 $0.12 $0.93 $0.99 $1.57 $0.29 -$0.73 $0.90 -$0.89 Per share
5 Yr Running Aveage $0.44 $0.56 $0.43 -$0.17 -$0.17 -$0.26 -$0.21 $0.10 $0.82 $0.78 $0.61 $0.60 $0.23 5 Yr Running Aveage
Cash $4,294 $5,036 $5,449 $5,828 $6,724 $6,855 $7,825 $8,997 $10,904 $11,123 $9,693 $11,065 $10,173 $10,173 Cash
Cash per Share $3.94 $4.25 $4.51 $4.79 $5.59 $5.68 $6.53 $7.33 $8.97 $9.18 $7.98 $9.29 $8.38 $8.38 $8.97 <-Median-> 5 Cash per Share
Percentage of Stock Price 7.51% 7.84% 7.11% 6.94% 9.09% 7.87% 7.84% 10.38% 11.87% 16.59% 9.83% 14.10% 14.92% 13.31% 14.10% <-Median-> 5 % of Stock Price
Notes:
January 7, 2024.  Last estimates were for 2023 and 2024 of $33958M, $35878M for Revenue, $8.32 and $8.60 for AEPS, 
$8.20, $8.52 and $8.53 2023/5 for EPS, $59.60 and $62.90 for BVPS, and $9753M, $9585M and $10306M 2023/5 for Net Income.
January 7, 2023.  Last estimates were for 2022, 2023 and 2024 of $32307M and $34484M for Revenue 2022/3, $8.27, $8.77 and $8.68 for EPS, 
$3.96, $4.19 and 3.70 for Dividends and $9934M, $10338M and $10629M for Net Income.
January 9, 2022. Last estimates were for 2021 and 2022 pf $30269M, $31817M for Revenue, $6.03 and $6.78 for EPS, $3.60, $3.62 and $3.60 for Divdiendsm and $7350M, $8237M for Net Income.
January 10, 2021.  Last estimates were for 2020 and 2021 of of $32436M and $33694M for Revenue, $7.44, 7.62 and $8.46 for EPS for 2020 to 2022, 
$3.68, $3.84 and $4.12 for Dividends for 2020 to 2022, $7.75 for CFPS for 2020 and $8880M and $9556M for Net Income.
January 11, 2020.  Last estimates were for 2019, 200 and 2021 of $31151M, $33093M and $34406M for Revenue, $7.27, $7.73 and $7.74 for EPS, 
$7.84 and $7.75 for CFPS for 2019 and 2020 and $9025M, $9649M and $11046M for Net Income.
January 13, 2019.  Last estimates were for 2018, 2019 and 2020 of $28775M, $30850M nd $32397M for Revenue, $6.39, $7.30 and $7.95 for EPS, $7.84, $8.33 and $7.75 for CFPS and $8279M, $8980M for Net Income for 2018 and 2019.
January 12, 2018.  Last estimates were for 2017, 2018 and 2019 of $27652M, $29142M and $29964M for Revenue, $6.31, $6.75 and $7.42 for EPS,
 $7.04 and $7.76 for CFPS for 2017 and 2018, $7.728M and $8.274M for Net Income for 2017 and 2018.
January 15, 2017.  Last estimates were for 2016, 2017 and 2018 of $25660M, $27231M and $28202M for Revenue, $5.91, $6.28 and $7.04 for EPS, 
$7.04, $7.56 and $7.76 for CFPS and $7134M and $7584M for 2016 and 2017 for Net Income.
January 15, 2016.  Last estimates were for 2015, 2016 and 2017 of $24230M, $25720M and $26839M for Revenue, $5.74, $6.19 and $6.85 for EPS, 
$7.04, $7.64 and $7.55 for CFPS and $7041M, $4560M and $8128M for Net Income.
January 11, 2015.  Last estimates were for 2014, 2015 and 2016 of $23054M, $24409M and $26263M for Revenue, $5.56, $5.91 and $6.27 for EPS, 
$7.13 and $7.69 (2014 and 2015) for CFPS, and $6722M, $7186M and $7880M for Net Income.
January 11, 2014.  Last estimates were for 2013 and 2014 of $20727M and $223037M for Revenue, $5.12 and $5.54 for EPS.
January 13, 2013.  Last Estimates were for 2012 and 2013 of $18248M and $19557M for Revenue, $4.73 and $5.18 for EPS and $7.64 and $8.28 for CFPS.
Dec 17, 2011.  Last Estimates for 2011 and 2012 were $4.47 and $5.00 for EPS and $7.86 and $8.36 for CF.
Dec 05, 2010.  that last time I looked I got 2010 and 2011 estimates of $3.58 and $4.38 for earnings and $7.16 and 7.86 for cash flow.
Dec 17, 2009.  The last time I looked at this stock in Dec 2008, I got earnings for 2009 at $3.70 and cash flow of $6.60.
This bank has been paying dividends since 1833.
January 2018.  Banks says first dividend 3% rate per annum on July 1, 1833.  Payments continuous since then. 185 years.
January 2014. Banks has had increases in 42 of the last 45 years.
April 2013.  They have paid dividends each year since founding in 1932.  In 42 of the last 45 years they have increased their dividends.  This is over a 90% hit rate.
Sector:
Banks, Financial Services
What should this stock accomplish?
I would expect dividends to be moderate to good with moderate dividend growth over the longer term.
Would I buy this company and Why.
If I was looking for another bank, I would certainly consider this one.  The only reason I do not own it is that I have enough bank stock with the 3 banks I own.
Why am I following this stock. 
This is one of the big banks of Canada.  All our big banks are dividend growth companies.
Besides, my son owns shares in this bank.
Dividends
Cycle 1 dividends payable in January, April, July and October.  Dividends are declared for shareholders of a month for payment in that month.
For example, the dividend payable on January 29, 2014 is payable for shareholders of record of January 7, 2014.
Misson Statement or closes thing I can find.
What I am looking for is a statement that the company wants to do well by their customers, employees, and community and and thereby earn shareholders a reasonable return.
Scotia Bank says that Corporate Social Responsibility has always been at the heart of how we do business at Scotiabank. Since 1832, we have taken pride in creating value for our shareholders, 
fulfilling our customers' unique financial needs, providing employees with rewarding careers, and supporting the well-being of our communities.
How they make their money.
Bank of Nova Scotia is a global financial services provider. The bank has five business segments: Canadian banking, international banking, global wealth 
management, global banking, and markets, and other. The bank's international operations span numerous countries and are more concentrated in Central and South America.   
For most ratios, lower is better when looking for a good stock price.  However, there are exceptions such as for yield and asset/liability ratios and here you want a higher ratios to indicate a good stock price.  
Also, for the Operational Profit Margin, a higher percentage is better.  With the OPM, you should only compare companies in similar industries.
Shares; '%, Value $M %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Change
Date 2016 Jan 15 2017 Jan 12 2018 Jan 13 2019 Jan 11 2020 Jan 10 2021 Jan 10 2022 Jan 7 2023 Jan 7 2024
Thomsom, Scott 0.039 0.00% 0.054 0.00% New in 2024 38.10%
CEO - Shares - Amount $2.177 $3.371
Options - percentage 0.028 0.00% 0.269 0.02% 871.51%
Options - amount $1.557 $16.964
Porter, Brian J. 0.01% 0.104 0.01% 0.117 0.01% 0.123 0.01% 0.136 0.01% 0.136 0.01% 0.137 0.01% 0.144 0.01% -100.00%
CEO - Shares - Amount $6.972 $8.650 $8.300 $9.268 $7.501 $11.030 $9.020 $8.075 Ceased insider Apr 2023
Options - percentage 0.09% 0.957 0.08% 0.988 0.08% 1.138 0.09% 1.285 0.11% 1.467 0.12% 1.152 0.10% 1.395 0.11% -100.00%
Options - amount $77.298 $79.658 $69.788 $85.992 $71.132 $119.045 $75.831 $78.355
Viswanathan, Rajagopal 0.014 0.00% 0.014 0.00% 0.025 0.00% 0.023 0.00% 0.030 0.00% 0.030 0.00% 0.68%
CFO - Shares - Amount $1.073 $0.792 $2.028 $1.499 $1.683 $1.900
Options - percentage 0.070 0.01% 0.102 0.01% 0.160 0.01% 0.219 0.02% 0.284 0.02% 0.350 0.03% 23.37%
Options - amount $5.321 $5.627 $13.016 $14.422 $15.932 $22.039
McGuckin, Sean 0.00% 0.043 0.00% 0.044 0.00%
CFO - Shares - Amount $3.115 $3.619 $3.093
Options - percentage 0.03% 0.381 0.03% 0.395 0.03%
Options - amount $26.146 $31.730 $27.931
Arellano, Ian 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.000 0.00% 0.001 0.00% #DIV/0!
Officer - Shares - Amount $0.000 $0.000 $0.000 $0.000 $0.000 $0.000 $0.049
Options - percentage 0.056 0.00% 0.100 0.01% 0.061 0.01% 0.162 0.01% 0.191 0.02% 0.231 0.02% 0.271 0.02% 17.29%
Options - amount $3.927 $7.553 $3.353 $13.119 $12.608 $12.956 $17.039
Frew, Nicole 0.001 0.00% 0.001 0.00% 4.57%
Officer - Shares - Amount $0.059 $0.069
Options - percentage 0.118 0.01% 0.156 0.01% 31.54%
Options - amount $6.646 $9.803
Gowland, Glen Bruce 0.002 0.00% 0.003 0.00% 22.87%
Officer - Shares - Amount $0.115 $0.158
Options - percentage 0.451 0.04% 0.555 0.05% 23.02%
Options - amount $25.344 $34.959
Babatz, Guillermo 0.001 0.00% 0.002 0.00% 0.002 0.00% 0.003 0.00% 0.003 0.00% 0.003 0.00% 0.003 0.00% 0.00%
Director - Shares - Amount $0.072 $0.136 $0.100 $0.203 $0.165 $0.140 $0.157
Options - percentage 0.007 0.00% 0.010 0.00% 0.012 0.00% 0.015 0.00% 0.019 0.00% 0.023 0.00% 0.029 0.00% 24.47%
Options - amount $0.522 $0.728 $0.671 $1.250 $1.247 $1.312 $1.830
Aufreiter, Nora Anne 0.001 0.00% 0.003 0.00% 0.003 0.00% 0.003 0.00% 0.003 0.00% 0.003 0.00% 0.006 0.00% 100.00%
Director - Shares - Amount $0.071 $0.189 $0.138 $0.260 $0.211 $0.180 $0.403
Options - percentage 0.006 0.00% 0.009 0.00% 0.012 0.00% 0.018 0.00% 0.022 0.00% 0.027 0.00% 0.034 0.00% 25.64%
Options - amount $0.447 $0.645 $0.683 $1.432 $1.446 $1.538 $2.167
Brenneman, Ron A. 0.01% 0.090 0.01% Ceased insider Apr 2017
Director - Shares - Amount $6.498 $7.508
Options - percentage 0.00% 0.061 0.01%
Options - amount $4.057 $5.061
Regent, Aaron William 0.053 0.00% 0.063 0.01% 0.063 0.01% 0.092 0.01% 0.092 0.01% 0.00%
Chairman - Shares - Amt $2.943 $5.073 $4.117 $5.189 $5.819
Options - percentage 0.027 0.00% 0.037 0.00% 0.045 0.00% 0.054 0.00% 0.065 0.01% 21.57%
Options - amount $1.516 $2.998 $2.944 $3.013 $4.107
O'Neill, Thomas Charles 0.00% 0.011 0.00% 0.011 0.00% 0.011 0.00% Ceased insider April 2019
Chairman - Shares - Amt $0.815 $0.941 $0.798 $0.854
Options - percentage 0.00% 0.041 0.00% 0.048 0.00% 0.056 0.00%
Options - amount $2.361 $3.383 $3.390 $4.236
Mayberry, John T.
Chairman - Shares - Amt
Options - percentage
Options - amount
Increase in O/S Shares 0.15% 4.228 0.35% 5.338 0.45% 2.238 0.18% 4.111 0.34% 0.942 0.08% 3.016 0.25% 1.951 0.16% 0.415 0.03%
due to SO 2013 $112.387 $304.763 $444.558 $158.148 $310.581 $52.131 $244.724 $128.498 $23.316
Book Value $102.000 $236.000 $313.000 $135.000 $253.000 $59.000 $200.000 $136.000 $28.000
Insider Buying -$1.026 -$0.740 -$1.119 -$4.592 -$1.148 -$0.745 -$1.039 -$4.681 -$1.317
Insider Selling $18.766 $59.940 $12.462 $1.524 $9.378 $2.864 $48.617 $5.937 $0.000
Net Insider Selling $17.741 $59.200 $11.344 -$3.068 $8.230 $2.119 $47.577 $1.256 -$1.317
% of Market Cap 0.02% 0.06% 0.01% 0.00% 0.01% 0.00% 0.06% 0.00% 0.00%
Directors 17 15 17 13 14 13 14 14
Women 33% 5 29% 5 33% 6 35% 5 38% 6 43% 5 38% 5 36% 5 36%
Minorities 13% 2 12% 2 13% 3 18% 1 8% 1 7% 0 0% 1 7% 1 7%
Institutions/Holdings 46.82% 328 49.59% 369 47.29% 405 46.65% 20 44.24% 20 43.67% 20 43.56% 20 46.12% 20 40.40%
Total Shares Held 46.64% 599.261 49.97% 567.172 46.22% 572.379 47.07% 534.586 44.13% 529.173 43.54% 529.524 44.45% 549.486 45.26% 490.460 40.40%
Increase/Decrease -7.88% 4.441 0.75% 24.877 4.59% 1.560 0.27% -15.806 -2.87% 5.083 0.97% 13.767 2.67% 15.483 2.90% -4.320 -0.87%
Starting No. of Shares NASDAQ 594.820 NASDAQ 542.295 NASDAQ 570.819 NASDAQ 550.392 Top 20 MS 524.090 Top 20 MS 515.756 Top 20 MS 534.003 Top 20 MS 494.780 Top 20 MS
Institutions/Holdings 18.00% 600 57.33% 684 53.29% 682 53.29%
Total Shares Held 0.21% 692.777 57.77% 639.289 52.10% 659.126 54.20%
Increase/Decrease 0.46% -0.844 -0.12% -0.793 -0.12% 2.165 0.33%
Starting No. of Shares Reuters 693.621 Reuters 640.081 Reuters 656.961 Reuters
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