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. Estimates Estimates Estimates Power calculations see Aden
While I try to be accurate, I assume no responsibility for any figure in this spreadsheet. Q1 2026
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Cogeco Communications Inc TSX CCA OTC CGEAF https://www.cogeco.ca/en/ Fiscal Yr: Dec 31
Year 8/31/13 8/31/14 8/31/15 8/31/16 8/31/17 8/31/18 8/31/19 8/31/20 8/31/21 8/31/22 8/31/23 8/31/24 8/31/25 8/31/26 8/31/27 8/31/28 Value Description #Y Item Total G
Accounting Rules IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS Accounting Rules
$2,879 <-12 mths -1.08%
Revenue* $1,692.5 $1,947.6 $2,043.3 $2,176.1 $2,226.9 $2,423.5 $2,331.8 $2,384.3 $2,510.5 $2,900.7 $2,984.1 $2,976.5 $2,910.5 $2,822 $2,772 $2,752 42.44% <-Total Growth 10 Revenue
Increase 32.46% 15.07% 4.92% 6.50% 2.33% 8.83% -3.78% 2.25% 5.29% 15.54% 2.88% -0.25% -2.22% -3.04% -1.77% -0.72% 3.60% <-IRR #YR-> 10 Revenue 42.44%
5 year Running Average $1,330.8 $1,476.8 $1,629.2 $1,827.4 $2,017.3 $2,163.5 $2,240.3 $2,308.5 $2,375.4 $2,510 $2,622.3 $2,751.2 $2,856.5 $2,918.8 $2,893.0 $2,846.6 4.07% <-IRR #YR-> 5 Revenue 22.07%
Revenue per Share $34.61 $39.68 $41.51 $44.08 $44.98 $48.90 $47.19 $49.75 $53.59 $63.37 $67.08 $70.49 $68.84 $67.21 $66.02 $65.54 5.78% <-IRR #YR-> 10 5 yr Running Average 75.33%
Increase 32.22% 14.63% 4.62% 6.20% 2.04% 8.70% -3.48% 5.42% 7.71% 18.25% 5.86% 5.08% -2.34% -2.37% -1.77% -0.72% 4.35% <-IRR #YR-> 5 5 yr Running Average 23.73%
5 year Running Average $27.39 $30.30 $33.33 $37.21 $40.97 $43.83 $45.33 $46.98 $48.88 $52.56 $56.20 $60.86 $64.68 $67.40 $67.93 $67.62 5.19% <-IRR #YR-> 10 Revenue per Share 65.84%
P/S (Price/Sales) Med 1.27 1.62 1.59 1.48 1.72 1.62 1.78 2.10 1.99 1.58 1.06 0.83 0.98 6.71% <-IRR #YR-> 5 Revenue per Share 38.37%
P/S (Price/Sales) Close 1.39 1.81 1.49 1.50 1.92 1.35 2.40 1.98 1.87 1.21 0.88 0.96 0.97 0.98 1.00 1.01 6.85% <-IRR #YR-> 10 5 yr Running Average 94.02%
P/S 10 Year Median  1.71 1.69 1.65 1.61 1.61 1.60 1.62 1.65 1.67 1.62 1.62 1.60 1.60 1.60 1.60 1.58 6.60% <-IRR #YR-> 5 5 yr Running Average 37.66%
*Revenue in M CDN $  P/S Med 20 yr  1.62 15 yr  1.62 10 yr  1.60 5 yr  1.06 -38.65% Diff M/C
Operating Costs to Rev SAP
-$2,043.3 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $2,910.5
-$2,384.3 $0.0 $0.0 $0.0 $0.0 $2,910.5
-$1,629.2 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $2,856.5
-$2,308.5 $0.0 $0.0 $0.0 $0.0 $2,856.5
-$41.51 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $68.84
-$49.75 $0.00 $0.00 $0.00 $0.00 $68.84
$336.0 <-12 mths -0.34%
$7.72 <-12 mths -2.77%
Adjusted Profit CDN$ $185.1 $209.4 $257.8 -$189.6 $299.2 $362.1 $333.7 $382.8 $407.3 $445.2 $418.0 $400.4 $337.1 30.80% <-Total Growth 10 Adjusted Profit CDN$
Return on Equity ROE 13.77% 13.89% 14.65% -12.67% 18.71% 18.40% 15.17% 16.88% 16.86% 16.18% 14.13% 13.44% 10.67% 15.68% <-Median-> 10 Return on Equity ROE
5Yr Median 12.51% 13.77% 13.89% 13.77% 13.89% 14.65% 15.17% 16.88% 16.88% 16.86% 16.18% 16.18% 14.13% 15.68% <-Median-> 10 5Yr Median
Basic $3.80 $3.80 $4.30 $5.27 -$3.87 $7.61 $6.89 $7.74 $8.59 $9.63 $9.36 $9.39 $8.01 86.28% <-Total Growth 10 AEPS
AEPS* Dilued $3.78 $3.78 $4.26 $5.22 -$3.87 $7.55 $6.83 $7.67 $8.52 $9.56 $9.32 $9.35 $7.94 $8.70 $8.94 $8.41 86.38% <-Total Growth 10 AEPS
Increase 9.25% 0.00% 12.70% 22.54% -174.14% 295.09% -9.54% 12.30% 11.08% 12.21% -2.51% 0.32% -15.08% 9.57% 2.76% -5.93% 9 1 10 Years of Data, EPS P or N 90.00%
5 year Running Average $3.15 $3.48 $3.81 $4.10 $2.63 $3.39 $4.00 $4.68 $5.34 $8.03 $8.38 $8.88 $8.94 $8.97 $8.85 $8.67 6.42% <-IRR #YR-> 10 AEPS 86.38%
AEPS Yield 7.88% 5.28% 6.90% 7.88% -4.48% 11.48% 6.03% 7.78% 8.48% 12.45% 15.70% 13.88% 11.95% 13.20% 13.57% 12.76% 0.69% <-IRR #YR-> 5 AEPS 3.52%
Payout Ratio 27.51% 31.75% 32.86% 29.89% 0.00% 25.17% 30.75% 30.25% 30.05% 29.50% 33.30% 36.53% 46.45% 45.38% 44.16% 46.94% 8.91% <-IRR #YR-> 10 5 yr Running Average 134.84%
5 year Running Average 23.00% 24.96% 27.22% 30.24% 52.54% 45.93% 43.42% 41.03% 39.70% 29.16% 30.80% 32.01% 34.88% 37.83% 40.91% 43.72% 13.81% <-IRR #YR-> 5 5 yr Running Average 90.98%
Price/AEPS Median 11.66 17.05 15.53 12.48 -20.00 10.47 12.30 13.61 12.54 10.47 7.65 6.24 8.48 7.73 0.00 0.00 10.47 <-Median-> 10 Price/AEPS Median
Price/AEPS High 13.71 16.92 17.96 13.65 -24.15 12.46 15.49 15.56 14.34 12.35 8.76 7.03 9.40 8.41 0.00 0.00 12.41 <-Median-> 10 Price/AEPS High
Price/AEPS Low 9.62 17.17 13.10 11.31 -15.85 8.48 9.11 11.65 10.74 8.60 6.55 5.44 7.57 7.05 0.00 0.00 8.54 <-Median-> 10 Price/AEPS Low
Price/AEPS Close 12.69 18.95 14.50 12.69 -22.35 8.71 16.57 12.85 11.79 8.03 6.37 7.20 8.37 7.57 7.37 7.84 8.54 <-Median-> 10 Price/AEPS Close
Trailing P/AEPS Close 13.87 18.95 16.34 15.55 16.57 -17.00 14.99 14.43 13.09 9.01 6.21 7.23 7.11 8.30 7.57 7.37 11.05 <-Median-> 10 Trailing P/AEPS Close
Median Values Historical   in order 12.39 14.02 9.87 12.69 P/AEPS 5 Yrs   in order 8.48 9.40 7.57 8.03 -10.71% Diff M/C DPR 75% to 95% best
$7.31 <-12 mths -3.82%
Difference Basic and Diluted 0.53% 0.93% 0.95% 0.00% 0.82% 0.85% 0.71% 0.90% 0.83% 0.76% 0.34% 0.51% 0.78% 0.01 <-Median-> 10 Difference Basic and Diluted
EPS Basic $3.80 $4.30 $5.27 -$3.87 $6.08 $7.04 $8.41 $7.74 $8.47 $9.16 $8.78 $7.87 $7.66 45.35% <-Total Growth 10 EPS Basic
EPS Diluted* $3.78 $4.26 $5.22 -$3.87 $6.03 $6.98 $8.35 $7.67 $8.40 $9.09 $8.75 $7.83 $7.60 $8.69 $9.27 $8.41 45.59% <-Total Growth 10 EPS Diluted
Increase -17.83% 12.70% 22.54% -3.87% 255.81% 15.75% 19.63% -8.14% 9.52% 8.21% -3.74% -10.51% -2.94% 14.37% 6.59% -9.23% 9 1 10 Years of Data, EPS P or N 90.00%
Earnings Yield 7.88% 5.95% 8.45% -5.84% 6.97% 10.61% 7.38% 7.78% 8.36% 11.84% 14.74% 11.63% 11.43% 13.19% 14.06% 12.76% 3.83% <-IRR #YR-> 10 Earnings per Share 45.59%
5 year Running Average $1.07 $2.98 $3.38 $2.80 $3.08 $3.72 $4.54 $5.03 $7.49 $8.10 $8.45 $8.35 $8.33 $8.39 $8.43 $8.36 -0.18% <-IRR #YR-> 5 Earnings per Share -0.92%
10 year Running Average $1.24 $1.67 $2.12 $1.57 $1.97 $2.40 $3.76 $4.21 $5.14 $5.59 $6.09 $6.45 $6.68 $7.94 $8.26 $8.41 9.44% <-IRR #YR-> 10 5 yr Running Average 146.42%
* Diluted ESP per share  E/P 10 Yrs 9.49% 5Yrs 11.63% 10.62% <-IRR #YR-> 5 5 yr Running Average 65.62%
-$5.22 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $7.60
-$7.67 $0.00 $0.00 $0.00 $0.00 $7.60
-$3.38 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $8.33
-$5.03 $0.00 $0.00 $0.00 $0.00 $8.33
Dividend* $3.95 $4.25 $4.56 Estimates Dividend*
Increase 7.10% 7.62% 7.27% Estimates Increase
Payout Ratio EPS 45.44% 45.88% 54.22% 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
Dividend* (Both Shares Types) $1.04 $1.20 $1.40 $1.56 $1.72 $1.90 $2.10 $2.32 $2.56 $2.82 $3.10 $3.416 $3.688 $3.948 $3.948 $3.948 163.43% <-Total Growth 10 Dividends
Increase 4.00% 15.38% 16.67% 11.43% 10.26% 10.47% 10.53% 10.48% 10.34% 10.16% 10.07% 10.05% 7.96% 7.05% 0.00% 0.00% 19 4 28 Years of data, Count P, N
Average Increases 5 Year Running 23.33% 22.86% 31.85% 11.20% 13.08% 11.67% 10.00% 9.74% 9.77% 9.68% 9.56% 9.45% 8.81% 8.00% 5.44% 3.11% 9.76% <-Median-> 10 5 year Increases
Dividends 5 Yr Running $0.72 $0.87 $1.04 $1.24 $1.38 $1.56 $1.74 $1.92 $2.12 $2.34 $2.58 $2.84 $3.12 $3.40 $3.62 $3.79 200.93% <-Total Growth 10 Dividends 5 Yr Running
Yield H/L Price 2.36% 1.86% 2.12% 2.39% 2.22% 2.40% 2.50% 2.22% 2.40% 2.82% 4.35% 5.86% 5.48% 5.87% 2.45% <-Median-> 10 Yield H/L Price Item
Yield on High  Price 2.01% 1.88% 1.83% 2.19% 1.84% 2.02% 1.99% 1.94% 2.10% 2.39% 3.80% 5.20% 4.94% 5.40% 2.14% <-Median-> 10 Yield on High  Price EPS
Yield on Low Price 2.86% 1.85% 2.51% 2.64% 2.80% 2.97% 3.38% 2.60% 2.80% 3.43% 5.09% 6.71% 6.14% 6.44% 3.17% <-Median-> 10 Yield on Low Price AEPS
Yield on Close Price 2.17% 1.68% 2.27% 2.36% 1.99% 2.89% 1.86% 2.35% 2.55% 3.67% 5.23% 5.07% 5.55% 5.99% 5.99% 5.99% 2.72% <-Median-> 10 Yield on Close Price CFPS
Payout Ratio EPS 27.51% 28.17% 26.82% 0.00% 28.52% 27.22% 25.15% 30.25% 30.48% 31.02% 35.47% 43.63% 48.53% 45.42% 42.61% 46.94% $0.27 <-Median-> 18 DPR EPS FCF 
DPR EPS 5 Yr Running 67.41% 29.09% 30.63% 44.32% 44.88% 41.78% 38.22% 38.16% 28.32% 28.90% 30.53% 34.07% 37.41% 40.46% 42.96% 45.33% $0.34 <-Median-> 21 DPR EPS 5 Yr Running
Payout Ratio CFPS 9.33% 7.77% 10.00% 10.33% 8.90% 13.57% 11.94% 12.11% 11.77% 10.41% 14.34% 12.27% 13.70% 15.34% 15.54% 0.00% $0.10 <-Median-> 21 DPR CF
DPR CF 5 Yr Running 7.45% 7.87% 8.55% 9.55% 9.23% 9.99% 10.85% 11.27% 11.54% 11.75% 12.03% 12.10% 12.45% 13.14% 14.20% 0.00% $0.09 <-Median-> 21 DPR CF 5 Yr Running
Payout Ratio CFPS WC 6.69% 6.58% 7.25% 7.94% 8.43% 8.78% 9.36% 9.69% 9.96% 9.47% 9.92% 10.36% 11.08% 15.34% 15.54% 0.00% $0.08 <-Median-> 21 DPR CF WC
DPR CF WC 5 Yr Running 6.66% 6.66% 6.97% 7.31% 7.43% 7.84% 8.39% 8.88% 9.29% 9.47% 9.69% 9.90% 10.19% 11.09% 12.18% 0.00% $0.07 <-Median-> 21 DPR CF WC 5 Yr Running
Median Values 10 Yr Med 10 Yr Cl 2.45% 2.72% 5 Yr Med 5 Yr Cl 4.35% 5.07% 5 Yr Med Payout 35.47% 12.27% 9.96% 9.71% <-IRR #YR-> 5 Dividends 58.97%
* Dividends per share  10 Yr Med and Cur. 144.33% 120.35% 5 Yr Med and Cur. 37.69% 18.12% Last Div Inc ---> $0.922 $0.987 7.05% 10.17% <-IRR #YR-> 10 Dividends 163.43%
Dividends Growth 15 13.39% <-IRR #YR-> 15 Dividends 558.57%
Dividends Growth 20 21.50% <-IRR #YR-> 20 Dividends 4817.33%
Dividends Growth 25 11.55% <-IRR #YR-> 25 Dividends 1436.67%
Dividends Growth 30 10.25% <-IRR #YR-> 28 Dividends
Dividends Growth 5 -$2.32 $0.00 $0.00 $0.00 $0.00 $3.69 Dividends Growth 5
Dividends Growth 10 -$1.40 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.69 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 $3.69 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 $3.69 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 $3.69 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 $3.69
Historical Dividends Historical High Div 5.09% Low Div 0.06% 10 Yr High 6.66% 10 Yr Low 1.85% Med Div 1.86% Close Div 1.68% Historical Dividends
High/Ave/Median Values Curr diff Cheap 17.70% 99.00% Exp. -10.05% 223.83% Cheap 222.09% Cheap 257.66% High/Ave/Median 
Future Dividend Yield Div Yield $0.10 earning in 5 Years at IRR of 9.71% Div Inc. 58.97% Future Dividend Yield
Future Dividend Yield Div Yield 15.14% earning in 10 Years at IRR of 9.71% Div Inc. 152.70% Future Dividend Yield
Future Dividend Yield Div Yield 24.07% earning in 15 Years at IRR of 9.71% Div Inc. 301.71% Future Dividend Yield
Future Dividend Paid Div Paid $6.28 earning in 5 Years at IRR of 9.71% Div Inc. 58.97% Future Dividend Paid Div Pd
Future Dividend Paid Div Paid $9.98 earning in 10 Years at IRR of 9.71% Div Inc. 152.70% Future Dividend Paid $6.28
Future Dividend Paid Div Paid $15.86 earning in 15 Years at IRR of 9.71% Div Inc. 301.71% Future Dividend Paid $9.98
$15.86
Dividend Covering Cost Total Div $23.97 over 5 Years at IRR of 9.71% Div Cov. 36.37% Dividend Covering Cost
Dividend Covering Cost Total Div $55.79 over 10 Years at IRR of 9.71% Div Cov. 84.65% Dividend Covering Cost
Dividend Covering Cost Total Div $106.37 over 15 Years at IRR of 9.71% Div Cov. 161.42% Dividend Covering Cost
Yield if held 5 years 2.51% 3.40% 3.98% 3.76% 3.83% 4.31% 3.26% 3.51% 3.93% 3.64% 3.93% 4.07% 3.53% 3.70% 3.94% 5.53% 3.79% <-Median-> 10 Paid Median Price
Yield if held 10 years 7.57% 6.29% 5.28% 5.89% 4.49% 4.58% 5.95% 6.60% 6.17% 6.28% 7.04% 5.30% 5.58% 6.06% 5.10% 4.99% 5.92% <-Median-> 10 Paid Median Price
Yield if held 15 years 7.31% 5.46% 4.11% 4.47% 9.54% 13.84% 11.00% 8.74% 9.67% 7.36% 7.48% 9.68% 10.49% 9.51% 8.79% 8.96% 9.60% <-Median-> 10 Paid Median Price
Yield if held 20 years 9.62% 10.43% 15.24% 19.05% 16.70% 13.36% 9.56% 6.82% 7.33% 15.64% 22.61% 17.90% 13.90% 14.91% 10.31% 9.52% 14.77% <-Median-> 10 Paid Median Price
Yield if held 25 years 17.57% 18.25% 25.25% 31.27% 27.38% 21.82% 15.54% 10.84% 11.30% 21.90% 28.75% 20.04% <-Median-> 8 Paid Median Price
Yield if held 30 years 28.70% 29.69% 40.14% 48.22% 38.33% 27.75% 29.69% <-Median-> 3 Paid Median Price
Yield if held 35 years 36.50% #NUM! <-Median-> 0 Paid Median Price
Cost covered if held 5 years 8.73% 12.30% 14.73% 14.93% 15.41% 17.65% 13.47% 14.51% 16.27% 15.12% 16.33% 16.93% 14.94% 15.89% 18.08% 26.56% 15.26% <-Median-> 10 Paid Median Price Div Yd
Cost covered if held 10 years 30.04% 27.90% 25.07% 30.41% 24.89% 27.48% 36.91% 42.04% 40.47% 41.46% 46.92% 35.54% 38.08% 42.32% 38.51% 40.30% 37.49% <-Median-> 10 Paid Median Price 3.70%
Cost covered if held 15 years 33.49% 26.05% 20.23% 23.98% 55.49% 86.71% 73.38% 61.25% 70.44% 55.45% 58.59% 77.22% 86.37% 81.36% 81.76% 89.91% 65.85% <-Median-> 10 Paid Median Price 6.06%
Cost covered if held 20 years 48.49% 56.01% 85.38% 114.86% 105.67% 88.18% 65.55% 48.45% 54.33% 120.38% 180.69% 147.89% 120.01% 134.56% 102.73% 104.27% 110.26% <-Median-> 10 Paid Median Price 9.51%
Cost covered if held 25 years 120.43% 131.46% 189.87% 244.32% 219.26% 178.90% 130.26% 94.26% 102.94% 220.79% 318.70% 155.18% <-Median-> 8 Paid Median Price
Cost covered if held 30 years 239.74% 255.05% 359.53% 451.66% 395.03% 312.10% 255.05% <-Median-> 3 Paid Median Price
Cost covered if held 35 years 414.94% #NUM! <-Median-> 0 Paid Median Price
Yr  Item Tot. Growth
Revenue Growth  $2,384.3 $2,510.5 $2,900.7 $2,984.1 $2,976.5 $2,910.5 $2,879.0 <-12 mths -1.08% 22.07% <-Total Growth 5 Revenue Growth  22.07%
AEPS Growth $7.67 $8.52 $9.56 $9.32 $9.35 $7.94 $7.72 <-12 mths -2.77% 3.52% <-Total Growth 5 AEPS Growth 3.52%
Net Income Growth $375.2 $401.5 $423.3 $392.3 $335.5 $323.2 $311.3 <-12 mths -3.69% -13.86% <-Total Growth 5 Net Income Growth -13.86%
Cash Flow Growth $917.8 $1,019.1 $1,240.3 $962.9 $1,175.2 $1,138.0 $1,095.5 <-12 mths -3.74% 23.99% <-Total Growth 5 Cash Flow Growth 23.99%
Dividend Growth $2.32 $2.56 $2.82 $3.10 $3.42 $3.69 $3.95 <-12 mths 7.05% 58.97% <-Total Growth 5 Dividend Growth 58.97%
Stock Price Growth $97.78 $116.01 $81.14 $65.35 $64.57 $64.28 $65.90 <-12 mths 2.52% -34.26% <-Total Growth 5 Stock Price Growth -34.26%
Revenue Growth  $2,043.3 $2,176.1 $2,226.9 $2,423.5 $2,331.8 $2,384.3 $2,510.5 $2,900.7 $2,984.1 $2,976.5 $2,910.5 $2,822.0 <-this year -3.04% 42.44% <-Total Growth 10 Revenue Growth  42.44%
AEPS Growth $4.26 $5.22 -$3.87 $7.55 $6.83 $7.67 $8.52 $9.56 $9.32 $9.35 $7.94 $8.70 <-this year 9.57% 86.38% <-Total Growth 10 AEPS Growth 86.38%
Net Income Growth $257.8 -$189.6 $299.2 $347.2 $415.3 $375.2 $401.5 $423.3 $392.3 $335.5 $323.2 $365.3 <-this year 13.03% 25.39% <-Total Growth 10 Net Income Growth 25.39%
Cash Flow Growth $688.9 $745.2 $956.7 $694.1 $868.7 $917.8 $1,019.1 $1,240.3 $962.9 $1,175.2 $1,138.0 $1,095.5 <-this year -3.74% 65.19% <-Total Growth 10 Cash Flow Growth 65.19%
Dividend Growth $1.40 $1.56 $1.72 $1.90 $2.10 $2.32 $2.56 $2.82 $3.10 $3.42 $3.69 $3.95 <-this year 7.10% 163.43% <-Total Growth 10 Dividend Growth 163.43%
Stock Price Growth $66.41 $63.45 $93.45 $64.77 $104.64 $97.78 $116.01 $81.14 $65.35 $64.57 $64.28 $78.95 <-this year 22.82% -3.21% <-Total Growth 10 Stock Price Growth -3.21%
Dividends on Shares $119.60 $138.00 $161.00 $179.40 $197.80 $218.50 $241.50 $266.80 $294.40 $324.30 $356.96 $392.84 $424.12 $454.02 $454.02 $454.02 $3,798.68 No of Years 30 Total Dividends 8/31/95
Share Value $5,517.70 $8,238.60 $7,103.55 $7,617.60 $9,945.20 $7,564.70 $13,018.00 $11,337.85 $11,548.30 $8,830.85 $6,825.25 $7,745.25 $7,644.05 $7,578.50 $7,578.50 $7,578.50 $7,644.05 No of Years 30 Share Value $8.75
Total $11,442.73 Total Return 115.00
Dividends on Shares $26.52 $29.24 $32.30 $35.70 $39.44 $43.52 $47.94 $52.77 $58.07 $62.70 $67.12 $67.12 $67.12 $428.20 No of Years 10 Total Dividends 8/31/14
Share Value $1,050.09 $1,126.08 $1,470.16 $1,118.26 $1,924.40 $1,676.03 $1,707.14 $1,305.43 $1,008.95 $1,144.95 $1,129.99 $1,120.30 $1,120.30 $1,120.30 $1,129.99 No of Years 10 Share Value $61.77
Total $1,558.19 Total Return #VALUE!
Graham Number AEPS $48.35 $51.12 $58.52 $59.66 $61.60 $82.11 $82.72 $90.38 $99.41 $113.70 $118.08 $121.84 $115.56 $122.64 $134.26 $130.22 97.46% <-Total Growth 10 Graham Number AEPS
Increase 11.06% 5.73% 14.48% 1.95% 3.24% 33.31% 0.73% 9.26% 10.00% 14.37% 3.85% 3.18% -5.15% 6.12% 9.48% -3.01% 3.55% <-Median-> 10 Increase
Price/GP Ratio Med 0.91 1.26 1.13 1.09 1.26 0.96 1.02 1.15 1.07 0.88 0.60 0.48 0.58 0.55 0.99 <-Median-> 10 Price/GP Ratio Med
Price/GP Ratio High 1.07 1.25 1.31 1.19 1.52 1.15 1.28 1.32 1.23 1.04 0.69 0.54 0.65 0.60 1.17 <-Median-> 10 Price/GP Ratio High
Price/GP Ratio Low 0.75 1.27 0.95 0.99 1.00 0.78 0.75 0.99 0.92 0.72 0.52 0.42 0.52 0.50 0.77 <-Median-> 10 Price/GP Ratio Low
Price/GP Ratio Close 0.99 1.40 1.06 1.11 1.40 0.80 1.37 1.09 1.01 0.68 0.50 0.55 0.58 0.54 0.49 0.51 0.91 <-Median-> 10 Price/GP Ratio Close
Prem/Disc Close -0.77% 40.14% 5.55% 11.02% 40.40% -19.89% 36.85% 9.09% 1.01% -32.46% -49.74% -44.72% -42.48% -46.27% -50.92% -49.39% -9.44% <-Median-> 10 Graham Price
Graham Number EPS $48.35 $54.27 $64.78 $59.66 $66.20 $78.95 $91.46 $90.38 $98.71 $110.87 $114.41 $111.50 $113.06 $122.58 $136.68 $130.22 74.52% <-Total Growth 10 Graham Number EPS
Increase -3.68% 12.24% 19.37% -7.90% 10.96% 19.26% 15.84% -1.18% 9.22% 12.32% 3.19% -2.55% 1.40% 8.42% 11.50% -4.73% 6.21% <-Median-> 10 Increase
Price/GP Ratio Med 0.91 1.19 1.02 1.09 1.17 1.00 0.92 1.15 1.08 0.90 0.62 0.52 0.60 0.55 0.96 <-Median-> 10 Price/GP Ratio Med
Price/GP Ratio High 1.07 1.18 1.18 1.19 1.41 1.19 1.16 1.32 1.24 1.07 0.71 0.59 0.66 0.60 1.17 <-Median-> 10 Price/GP Ratio High
Price/GP Ratio Low 0.75 1.20 0.86 0.99 0.93 0.81 0.68 0.99 0.93 0.74 0.53 0.46 0.53 0.50 0.78 <-Median-> 10 Price/GP Ratio Low
Price/GP Ratio Close 0.99 1.32 0.95 1.11 1.31 0.83 1.24 1.09 1.02 0.69 0.52 0.60 0.59 0.54 0.48 0.51 0.93 <-Median-> 10 Price/GP Ratio Close
Prem/Disc Close -0.77% 32.01% -4.65% 11.02% 30.63% -16.68% 23.77% 9.09% 1.73% -30.74% -48.13% -39.60% -41.21% -46.24% -51.79% -49.39% -7.48% <-Median-> 10 Graham Price
Based on EPS 3 Yrs EPS $37.66 $41.38 $58.20 $54.90 $36.87 $46.87 $55.24 $87.08 $94.30 $104.92 $112.01 $117.84 $119.97 $118.04 $127.33 $131.06 106.12% <-Total Growth 10 Based on EPS 3 Yrs EPS
Increase 84.57% 9.87% 40.66% -5.67% -32.85% 27.13% 17.86% 57.62% 8.30% 11.26% 6.76% 5.21% 1.80% -1.60% 7.87% 2.93% 7.53% <-Median-> 10 Increase
Price/GP Ratio Med 1.17 1.56 1.14 1.19 2.10 1.69 1.52 1.20 1.13 0.95 0.64 0.49 0.56 0.57 115.99% <-Median-> 10 Price/GP Ratio Med
Price/GP Ratio High 1.38 1.55 1.31 1.30 2.53 2.01 1.91 1.37 1.30 1.13 0.73 0.56 0.62 0.62 1.30 <-Median-> 10 Price/GP Ratio High
Price/GP Ratio Low 0.97 1.57 0.96 1.08 1.66 1.37 1.13 1.03 0.97 0.78 0.54 0.43 0.50 0.52 1.00 <-Median-> 10 Price/GP Ratio Low
Price/GP Ratio Close 1.27 1.73 1.06 1.21 2.35 1.40 2.05 1.13 1.06 0.73 0.53 0.57 0.55 0.56 0.52 0.50 1.10 <-Median-> 10 Price/GP Ratio Close
Prem/Disc Close 27.40% 73.13% 6.13% 20.65% 134.57% 40.34% 104.91% 13.22% 6.49% -26.81% -47.01% -42.85% -44.59% -44.17% -48.24% -49.72% 0.10 <-Median-> 10 Graham Price
Month, Year 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 Dec-27 Dec-28 35.00 <Count Years> 35 Month, Year
Price Close $47.98 $71.64 $61.77 $66.24 $86.48 $65.78 $113.20 $98.59 $100.42 $76.79 $59.35 $67.35 $66.47 $65.90 $65.90 $65.90 7.61% <-Total Growth 10 Stock Price
Increase 26.10% 49.31% -13.78% 7.24% 30.56% -23.94% 72.09% -12.91% 1.86% -23.53% -22.71% 13.48% -1.31% -0.86% 0.00% 0.00% 15.63 <-Median-> 10 CAPE (10 Yr P/E)
P/E Ratio 12.69 16.82 11.83 -17.12 14.34 9.42 13.56 12.85 11.95 8.45 6.78 8.60 8.75 7.58 7.11 7.84 -7.58% <-IRR #YR-> 5 Stock Price -32.58%
Trailing P/E Ratio 10.43 18.95 14.50 12.69 -22.35 10.91 16.22 11.81 13.09 9.14 6.53 7.70 8.49 8.67 7.58 7.11 0.74% <-IRR #YR-> 10 Stock Price 7.61%
CAPE (10 Yr P/E) 30.46 25.44 21.80 31.61 27.05 23.56 17.10 16.66 14.59 14.11 13.14 12.35 11.98 10.08 9.44 9.28 -3.85% <-IRR #YR-> 5 Price & Dividend -16.77%
Median 10, 5 Yrs D.  per yr 3.82% 3.73% % Tot Ret 83.84% 0.00% T P/E 10.03 8.49 P/E:  9.09 8.60 -16.55% Diff M/C 4.55% <-IRR #YR-> 10 Price & Dividend 48.39%
Price 15 D.  per yr 3.56% % Tot Ret 52.09% CAPE Diff -51.48% 3.27% <-IRR #YR-> 15 Stock Price 62.04%
Price  20 D.  per yr 3.13% % Tot Ret 37.99% 5.12% <-IRR #YR-> 20 Stock Price 171.31%
Price  25 D.  per yr 2.07% % Tot Ret 43.42% 2.69% <-IRR #YR-> 25 Stock Price 94.36%
Price  30 D.  per yr 2.63% % Tot Ret 27.35% 6.99% <-IRR #YR-> 30 Stock Price
Price  35 5.71% <-IRR #YR-> 32 Stock Price
Price & Dividend 15 6.83% <-IRR #YR-> 15 Price & Dividend 136.08%
Price & Dividend 20 8.25% <-IRR #YR-> 20 Price & Dividend 301.26%
Price & Dividend 25 4.76% <-IRR #YR-> 25 Price & Dividend 188.13%
Price & Dividend 30 9.63% <-IRR #YR-> 30 Price & Dividend
Price & Dividend 35 7.86% <-IRR #YR-> 32 Price & Dividend
Price  5 -$98.59 $0.00 $0.00 $0.00 $0.00 $66.47 Price  5 TD bank
Price 10 -$61.77 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $66.47 Price 10 POW 30
Price & Dividend 5 -$98.59 $2.56 $2.82 $3.10 $3.42 $70.16 Price & Dividend 5
Price & Dividend 10 -$61.77 $1.56 $1.72 $1.90 $2.10 $2.32 $2.56 $2.82 $3.10 $3.42 $70.16 Price & Dividend 10 to year 35
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 $66.47 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 $66.47 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 $66.47 Price  25 Price  30
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 $66.47 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 $66.47 Price  35
Price & Dividend 15 $1.04 $1.20 $1.40 $1.56 $1.72 $1.90 $2.10 $2.32 $2.56 $2.82 $3.10 $3.42 $70.16 Price & Dividend 15 Price  35
Price & Dividend 20 $1.04 $1.20 $1.40 $1.56 $1.72 $1.90 $2.10 $2.32 $2.56 $2.82 $3.10 $3.42 $70.16 Price & Dividend 20 Price  40
Price & Dividend 25 $1.04 $1.20 $1.40 $1.56 $1.72 $1.90 $2.10 $2.32 $2.56 $2.82 $3.10 $3.42 $70.16 Price & Dividend 25
Price & Dividend 30 $1.04 $1.20 $1.40 $1.56 $1.72 $1.90 $2.10 $2.32 $2.56 $2.82 $3.10 $3.42 $70.16 Price & Dividend 30
Price & Dividend 35 $1.04 $1.20 $1.40 $1.56 $1.72 $1.90 $2.10 $2.32 $2.56 $2.82 $3.10 $3.42 $70.16 Price & Dividend 35
Month, Year Aug-13 Aug-14 Aug-15 Aug-16 Aug-17 Aug-18 Aug-19 Aug-20 Aug-21 Aug-22 Aug-23 Aug-24 Aug-25 Aug-26 Aug-27 Aug-28 35.00 <Count Years> 35 Month, Year
Price Close $48.36 $62.70 $66.41 $63.45 $93.45 $64.77 $104.64 $97.78 $116.01 $81.14 $65.35 $64.57 $64.28 $65.90 $65.90 $75.66 -3.31% <-Total Growth 10 Stock Price
Increase 32.97% 29.65% 5.92% -4.46% 47.28% -30.69% 61.56% -6.56% 18.64% -30.06% -19.46% -1.19% -0.45% 2.52% 0.00% 14.81% 15.46 <-Median-> 10 CAPE (10 Yr P/E)
P/E Ratio 12.79 14.72 12.72 -16.40 15.50 9.28 12.53 12.75 13.81 8.93 7.47 8.25 8.46 7.58 7.11 9.00 -8.05% <-IRR #YR-> 5 Stock Price -34.26%
Trailing P/E Ratio 10.51 16.59 15.59 12.16 -24.15 10.74 14.99 11.71 15.13 9.66 7.19 7.38 8.21 8.67 7.58 8.17 -0.33% <-IRR #YR-> 10 Stock Price -3.21%
CAPE (10 Yr P/E) 29.14 24.23 20.69 30.40 26.54 22.71 16.54 16.26 14.66 14.29 13.40 12.69 12.20 10.30 9.57 9.53 -4.25% <-IRR #YR-> 5 Price & Dividend -34.21%
Median 10, 5 Yrs D.  per yr 3.74% 3.80% % Tot Ret 109.52% 0.00% T P/E $10.20 $8.21 P/E:  $9.10 $8.46 -16.71% Diff M/C 3.42% <-IRR #YR-> 10 Price & Dividend -3.03%
Price 15 D.  per yr 3.52% % Tot Ret 46.98% CAPE Diff -50.97% 3.98% <-IRR #YR-> 15 Stock Price 79.45%
Price  20 D.  per yr 2.87% % Tot Ret 45.21% 3.48% <-IRR #YR-> 20 Stock Price 98.09%
Price  25 D.  per yr 1.99% % Tot Ret 54.33% 1.67% <-IRR #YR-> 25 Stock Price 51.25%
Price  30 D.  per yr 2.74% % Tot Ret 27.87% 7.08% <-IRR #YR-> 30 Stock Price
Price  35 D.  per yr 2.22% % Tot Ret 27.89% 5.75% <-IRR #YR-> 32 Stock Price
Price & Dividend 15 7.50% <-IRR #YR-> 15 Price & Dividend 79.93%
Price & Dividend 20 6.35% <-IRR #YR-> 20 Price & Dividend 98.62%
Price & Dividend 25 3.65% <-IRR #YR-> 25 Price & Dividend 51.65%
Price & Dividend 30 9.82% <-IRR #YR-> 30 Price & Dividend
Price & Dividend 35 7.97% <-IRR #YR-> 32 Price & Dividend
Price  5 -$97.78 $0.00 $0.00 $0.00 $0.00 $64.28 Price  5 TD bank
Price 10 -$66.41 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $64.28 Price 10 POW 30
Price & Dividend 5 -$97.78 $2.56 $2.82 $3.10 $3.42 $67.97 Price & Dividend 5
Price & Dividend 10 -$66.41 $1.56 $1.72 $1.90 $2.10 $2.32 $2.56 $2.82 $3.10 $3.42 $67.97 Price & Dividend 10 to year 35
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 $64.28 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 $64.28 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 $64.28 Price  25 Price  30
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 $64.28 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 $64.28 Price  35
Price & Dividend 15 $1.04 $1.20 $1.40 $1.56 $1.72 $1.90 $2.10 $2.32 $2.56 $2.82 $3.10 $3.42 $67.97 Price & Dividend 15 Price  35
Price & Dividend 20 $1.04 $1.20 $1.40 $1.56 $1.72 $1.90 $2.10 $2.32 $2.56 $2.82 $3.10 $3.42 $67.97 Price & Dividend 20 Price  40
Price & Dividend 25 $1.04 $1.20 $1.40 $1.56 $1.72 $1.90 $2.10 $2.32 $2.56 $2.82 $3.10 $3.42 $67.97 Price & Dividend 25
Price & Dividend 30 $1.04 $1.20 $1.40 $1.56 $1.72 $1.90 $2.10 $2.32 $2.56 $2.82 $3.10 $3.42 $67.97 Price & Dividend 30
Price & Dividend 35 $1.04 $1.20 $1.40 $1.56 $1.72 $1.90 $2.10 $2.32 $2.56 $2.82 $3.10 $3.42 $67.97 Price & Dividend 35
Price H/L Median $44.08 $64.44 $66.15 $65.17 $77.40 $79.04 $84.00 $104.37 $106.83 $100.13 $71.34 $58.31 $67.36 $67.25 1.84% <-Total Growth 10 Stock Price
Increase -1.86% 46.18% 2.65% -1.48% 18.78% 2.12% 6.28% 24.24% 2.36% -6.27% -28.75% -18.27% 15.53% -0.16% -8.38% <-IRR #YR-> 5 Stock Price -54.94%
P/E Ratio 11.66 15.13 12.67 -16.84 12.84 11.32 10.06 13.61 12.72 11.02 8.15 7.45 8.86 7.74 0.18% <-IRR #YR-> 10 Stock Price 1.84%
Trailing P/E Ratio 9.58 17.05 15.53 12.48 -20.00 13.11 12.03 12.50 13.93 11.92 7.85 6.66 8.60 8.85 -4.79% <-IRR #YR-> 5 Price & Dividend -54.94%
P/E on Running 5 yr Average 41.04 21.59 19.56 23.29 25.10 21.22 18.49 20.74 14.27 12.36 8.44 6.98 8.08 8.01 3.85% <-IRR #YR-> 10 Price & Dividend 39.92%
P/E on Running 10 yr Average 35.49 38.63 31.23 41.59 39.21 32.95 22.32 24.81 20.78 17.91 11.72 9.05 10.08 8.47 11.32 P/E Ratio Historical Median -20.52%
Median 10, 5 Yrs D.  per yr 3.59% 3.67% % Tot Ret -75.03% 95.27% T P/E 11.98 8.60 P/E:  10.54 8.86 Count 32 Years of data
-$104.37 $0.00 $0.00 $0.00 $0.00 $67.36
-$66.15 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $67.36
-$104.37 $2.56 $2.82 $3.10 $3.42 $71.05
-$66.15 $1.56 $1.72 $1.90 $2.10 $2.32 $2.56 $2.82 $3.10 $3.42 $71.05
High Months Jul 13 Jun 14 Feb 15 Mar 16 Aug 17 Nov 17 Jul 19 Nov 19 Jul 21 Sep 21 Jan 23 Aug 24 Dec 24 Jan 26
Price High $51.81 $63.96 $76.49 $71.27 $93.45 $94.06 $105.78 $119.37 $122.17 $118.09 $81.64 $65.73 $74.65 $73.17 -2.46% <-Total Growth 10 Stock Price
Increase -4.48% 23.45% 19.59% -6.82% 31.12% 0.65% 12.46% 12.85% 2.35% -3.34% -30.87% -19.49% 13.57% -1.98% -8.96% <-IRR #YR-> 5 Stock Price -59.91%
P/E Ratio 13.71 15.01 14.65 -18.42 15.50 13.48 12.67 15.56 14.54 12.99 9.33 8.39 9.82 8.42 -0.24% <-IRR #YR-> 10 Stock Price -2.46%
Trailing P/E Ratio 11.26 16.92 17.96 13.65 -24.15 15.60 15.15 14.30 15.93 14.06 8.98 7.51 9.53 9.63 13.56 P/E Ratio Historical Median
Median 10, 5 Yrs T P/E 13.86 9.53 P/E:  12.83 9.82 25.19 P/E Ratio Historical High
-$119.37 $0.00 $0.00 $0.00 $0.00 $74.65
-$76.49 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $74.65
Low Months Sep 12 Dec 13 Oct 14 Jan 16 Nov 16 Jul 18 Nov 18 Mar 20 Nov 20 Jul 22 Mar 23 Nov 23 Feb 25 Oct 25
Price Low $36.35 $64.91 $55.80 $59.06 $61.35 $64.02 $62.22 $89.36 $91.49 $82.17 $61.04 $50.88 $60.07 $61.33 7.65% <-Total Growth 10 Stock Price
Increase 2.14% 78.57% -14.03% 5.84% 3.88% 4.35% -2.81% 43.62% 2.38% -10.19% -25.71% -16.64% 18.06% 2.10% -7.64% <-IRR #YR-> 5 Stock Price -48.76%
P/E Ratio 9.62 15.24 10.69 -15.26 10.17 9.17 7.45 11.65 10.89 9.04 6.98 6.50 7.90 7.06 0.74% <-IRR #YR-> 10 Stock Price 7.65%
Trailing P/E Ratio 7.90 17.17 13.10 11.31 -15.85 10.62 8.91 10.70 11.93 9.78 6.72 5.81 7.67 8.07 9.17 P/E Ratio Historical Median
Median 10, 5 Yrs T P/E 9.35 7.67 P/E:  8.47 7.90 -13.22 P/E Ratio Historical Low
-$55.80 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $60.07
Free Cash Flow Mkt Sc $485.9 $424.4 $415.4 $476.0 $517.2 $514.4 $585.0 $581.0 <-Total Growth 4 Free Cash Flow Mkt Sc
Change -12.66% -2.12% 14.59% 8.66% -0.54% 13.72% -0.68% 3.27% <-Median-> 4 Change
$627 <-12 mths 15.65%
Free Cash Flow WSJ $486 $496 $160 $516 $542 <-Total Growth 4 Free Cash Flow WSJ
Change 2.06% -67.74% 222.50% 5.04% 3.55% <-Median-> 4 Change
Free Cash Flow MS $286.0 $250 $460 $170 $460 $490 $390 $180 $200 $260 $500 74.85% <-Total Growth 10 Free Cash Flow MS
Change -12.58% 84.00% -63.04% 170.59% 6.52% -20.41% -53.85% 11.11% 30.00% 92.31% 8.82% <-Median-> 10 Change
$494 <-12 mths -4.51%
Free Cash Flow Company $149.84 $274.7 $286.0 $281.0 $373.7 $326.5 $454.1 $455.4 $486.9 $424.4 $415.4 $476.0 $517.2 $514.4 $585.0 $581.0 80.86% <-Total Growth 10 Free Cash Flow
Change 125.93% 83.32% 4.11% -1.74% 33.00% -12.65% 39.09% 0.30% 6.90% -12.84% -2.11% 14.59% 8.65% -0.54% 13.72% -0.68% 2.58% <-IRR #YR-> 5 Free Cash Flow MS 13.56%
FCF/CF from Op Ratio 0.27 0.36 0.42 0.38 0.39 0.47 0.52 0.50 0.48 0.34 0.43 0.41 0.45 0.48 0.55 #DIV/0! 6.10% <-IRR #YR-> 10 Free Cash Flow MS 80.86%
Free Cash Flow Yield 0.06 0.08 0.09 0.09 0.09 0.10 0.08 0.10 0.10 0.12 0.16 0.17 0.18 0.19 0.21 0.21 10.18% <-Median-> 10 Free Cash Flow Yield
Dividends paid $76.50 $76.50 $76.50 $76.50 $84.66 $93.70 $103.71 $112.28 $121.05 $129.94 $137.97 $145.15 $154.72 $165.77 $165.77 $165.77 102.25% <-Total Growth 10 Dividends paid
Percentage paid 51.05% 27.85% 26.75% 27.22% 22.65% 28.70% 22.84% 24.65% 24.86% 30.62% 33.21% 30.49% 29.92% 32.23% 28.34% 28.53% $0.28 <-Median-> 10 Percentage paid
5 Year Coverage 36.16% 28.61% 26.45% 25.28% 24.90% 24.58% 26.11% 27.05% 28.62% 29.69% 31.25% 30.68% 29.82% 5 Year Coverage
Dividend Coverage Ratio 1.96 3.59 3.74 3.67 4.41 3.48 4.38 4.06 4.02 3.27 3.01 3.28 3.34 3.10 3.53 3.50 3.58 <-Median-> 10 Dividend Coverage Ratio
5 Year of Coverage 0.00 3.49 3.78 3.96 4.02 4.07 3.83 3.70 3.49 3.37 3.20 3.26 3.35 5 Year of Coverage
Market Cap in $M $2,346.1 $3,516.5 $3,040.6 $3,269.9 $4,281.2 $3,260.4 $5,593.1 $4,724.7 $4,704.3 $3,514.9 $2,640.2 $2,843.9 $2,810.3 $2,767.0 $2,767.0 $2,767.0 -8.20% <-Total Growth 10 Market Cap -7.58%
Diluted # of Shares in Millions 48.97 49.19 49.42 49.03 49.60 49.70 49.77 48.92 47.80 46.57 44.86 42.85 42.45 42.45 42.45 -16.41% <-Total Growth 10 Diluted # of Shares in Million
Change 0.03% 0.44% 0.46% -0.78% 1.15% 0.21% 0.14% -1.71% -2.29% -2.58% -3.68% -4.48% -0.92% 0.00% 0.00% -1.51% <-IRR #YR-> 10 Change
Difference Diluted/Basic -0.7% 1.4% -1.1% 0.0% -0.8% -0.8% -0.8% -0.9% -0.9% -0.7% -0.4% -0.4% -0.8% -0.8% -0.8% -2.80% <-IRR #YR-> 5 Difference Diluted/Basic
Basic # of Shares in Millions 48.65 49.89 48.89 49.03 49.20 49.30 49.36 48.50 47.39 46.23 44.66 42.66 42.09 42.09 42.09 -16.15% <-Total Growth 10 Basic
Change -0.02% 2.55% -2.00% 0.30% 0.35% 0.19% 0.13% -1.75% -2.28% -2.45% -3.40% -4.47% -1.33% 0.00% 0.00% -1.54% <-Median-> 10 Change
Difference Basic/Outstanding 0.51% -1.61% 0.69% 0.68% 0.61% 0.54% 0.10% -1.18% -1.15% -0.99% -0.38% -1.02% 0.45% -0.25% -0.25% -0.14% <-Median-> 10 Difference Basic/Outstanding
$1,095 <-12 mths -3.74%
Multiple Voting Shares 15.691 15.691 15.691 15.691 15.691 15.691 15.691 15.691 15.691 15.691 15.691 12.001 12.001 12.001 12.001 12.001
Subordinate Voting Share 33.206 33.395 33.533 33.674 33.814 33.874 33.718 32.231 31.155 30.081 28.793 30.225 30.278 29.987 29.987 29.987
# of Share in Millions 48.897 49.086 49.224 49.365 49.505 49.565 49.409 47.923 46.846 45.773 44.484 42.226 42.279 41.987 41.987 41.987 -1.51% <-IRR #YR-> 10 Shares -14.11%
Change 0.18% 0.39% 0.28% 0.28% 0.28% 0.12% -0.32% -3.01% -2.25% -2.29% -2.81% -5.08% 0.13% -0.69% 0.00% 0.00% -2.47% <-IRR #YR-> 5 Shares -11.78%
Cash Flow from Operations $M $545.0 $758.4 $688.9 $745.2 $956.7 $694.1 $868.7 $917.8 $1,019.1 $1,240.3 $962.9 $1,175.2 $1,138.0 $1,080.3 $1,066.5 65.19% <-Total Growth 10 Cash Flow
Increase 21.01% 39.15% -9.16% 8.16% 28.38% -27.45% 25.16% 5.65% 11.03% 21.71% -22.36% 22.05% -3.17% -5.07% -1.28% Stock Options Buying, Selling Sh decrease
5 year Running Average $471.9 $537.3 $591.6 $637.6 $738.8 $768.6 $790.7 $836.5 $891.3 $948.0 $1,001.8 $1,063.1 $1,107.1 $1,119.4 $1,084.6 87.14% <-Total Growth 10 CF 5 Yr Running
CFPS $11.15 $15.45 $14.00 $15.10 $19.32 $14.00 $17.58 $19.15 $21.75 $27.10 $21.65 $27.83 $26.92 $25.73 $25.40 92.32% <-Total Growth 10 Cash Flow per Share
Increase 20.79% 38.61% -9.41% 7.86% 28.02% -27.53% 25.55% 8.93% 13.58% 24.56% -20.12% 28.58% -3.29% -4.41% -1.28% 5.15% <-IRR #YR-> 10 Cash Flow 65.19%
5 year Running Average $9.72 $11.03 $12.11 $12.98 $15.00 $15.57 $16.00 $17.03 $18.36 $19.92 $21.45 $23.50 $25.05 $25.84 $25.50 4.39% <-IRR #YR-> 5 Cash Flow 23.99%
P/CF on Med Price 3.95 4.17 4.73 4.32 4.01 5.64 4.78 5.45 4.91 3.70 3.30 2.09 2.50 2.61 0.00 6.76% <-IRR #YR-> 10 Cash Flow per Share 92.32%
P/CF on Closing Price 4.30 4.64 4.41 4.39 4.48 4.70 6.44 5.15 4.62 2.83 2.74 2.42 2.47 2.56 2.59 7.04% <-IRR #YR-> 5 Cash Flow per Share 40.54%
-38.45% Diff M/C 7.54% <-IRR #YR-> 10 CFPS 5 yr Running 106.80%
$1,401.4 <-12 mths -0.45%
Excl.Working Capital CF $214.8 $137.2 $261.2 $224.6 $53.9 $379.1 $239.3 $229.1 $184.9 $123.4 $429.1 $216.5 $269.7 $0.0 $0.0 8.02% <-IRR #YR-> 5 CFPS 5 yr Running 47.07%
Cash Flow from Operations $M WC $759.8 $895.6 $950.1 $969.8 $1,010.6 $1,073.2 $1,108.0 $1,147.0 $1,204.0 $1,363.7 $1,392.0 $1,391.7 $1,407.7 $1,080.3 $1,066.5 48.17% <-Total Growth 10 Cash Flow less WC
Increase 29.20% 17.87% 6.09% 2.07% 4.21% 6.20% 3.24% 3.52% 4.97% 13.27% 2.08% -0.02% 1.15% -23.26% -1.28% 4.01% <-IRR #YR-> 10 Cash Flow less WC 48.17%
5 year Running Average $528.7 $635.7 $726.8 $832.7 $917.2 $979.8 $1,022.3 $1,061.7 $1,108.5 $1,179.2 $1,242.9 $1,299.7 $1,351.8 $1,327.1 $1,267.6 4.18% <-IRR #YR-> 5 Cash Flow less WC 22.74%
CFPS Excl. WC $15.54 $18.24 $19.30 $19.65 $20.41 $21.65 $22.43 $23.93 $25.70 $29.79 $31.29 $32.96 $33.30 $25.73 $25.40 6.40% <-IRR #YR-> 10 CF less WC 5 Yr Run 86.00%
Increase 28.96% 17.41% 5.79% 1.78% 3.91% 6.07% 3.57% 6.73% 7.38% 15.92% 5.03% 5.33% 1.03% -22.72% -1.28% 4.95% <-IRR #YR-> 5 CF less WC 5 Yr Run 27.32%
5 year Running Average $10.87 $13.04 $14.86 $16.96 $18.63 $19.85 $20.69 $21.61 $22.83 $24.70 $26.63 $28.74 $30.61 $30.61 $29.74 5.60% <-IRR #YR-> 10 CFPS - Less WC 72.51%
P/CF on Median Price 2.84 3.53 3.43 3.32 3.79 3.65 3.75 4.36 4.16 3.36 2.28 1.77 2.02 6.83% <-IRR #YR-> 5 CFPS - Less WC 39.12%
P/CF on Closing Price 3.09 3.93 3.20 3.37 4.24 3.04 5.05 4.12 3.91 2.58 1.90 2.04 2.00 2.56 2.59 7.49% <-IRR #YR-> 10 CFPS 5 yr Running 105.94%
*Operational Cash Flow. CF/-WC P/CF Med 10 yr 4.16 5 yr  3.30 P/CF Med 10 yr 3.51 5 yr  2.28 -26.94% Diff M/C 7.21% <-IRR #YR-> 5 CFPS 5 yr Running 41.61%
-$14.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $26.92 Cash Flow per Share
-$19.15 $0.00 $0.00 $0.00 $0.00 $26.92 Cash Flow per Share
-$12.11 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $25.05 CFPS 5 yr Running
-$17.03 $0.00 $0.00 $0.00 $0.00 $25.05 CFPS 5 yr Running
-$950.1 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $1,407.7 Cash Flow less WC
-$1,147.0 $0.0 $0.0 $0.0 $0.0 $1,407.7 Cash Flow less WC
-$726.8 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $1,351.8 CF less WC 5 Yr Run
-$1,061.7 $0.0 $0.0 $0.0 $0.0 $1,351.8 CF less WC 5 Yr Run
-$19.30 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $33.30 CFPS - Less WC
-$23.93 $0.00 $0.00 $0.00 $0.00 $33.30 CFPS - Less WC
OPM Ratio 32.20% 38.94% 33.72% 34.24% 42.96% 28.64% 37.25% 38.49% 40.59% 42.76% 32.27% 39.48% 39.10% 38.28% 15.97% <-Total Growth 10 OPM
Increase -8.65% 20.92% -13.41% 1.56% 25.46% -33.33% 30.08% 3.33% 5.45% 5.34% -24.54% 22.36% -0.97% -2.09% Should increase  or be stable.
Diff from Median -17% 0% -13% -12% 11% -26% -4% -1% 5% 10% -17% 2% 1% -1% 0.00 <-Median-> 10 OPM
*Operational Profit Margin (CF/Revenue) Ratio OPM 10 Yrs 38.80% 5 Yrs 39.48% should be  zero, it is a   check on calculations
$1,431 <-12 mths -0.79%
Adjusted EBITDA $780.7 $893.4 $930.5 $983.4 $1,005.0 $1,086.0 $1,107.9 $1,148.7 $1,205.7 $1,393.1 $1,421.1 $1,442.3 $1,442.6 $1,412.0 $1,397.0 $1,387.0 55.04% <-Total Growth 10 Adjusted EBITDA
Change 32.54% 14.43% 4.16% 5.69% 2.19% 8.06% 2.02% 3.68% 4.96% 15.54% 2.01% 1.50% 0.02% -2.12% -1.06% -0.72% 2.93% <-Median-> 10 Change
EBITDA Margin 46.13% 45.87% 45.54% 45.19% 45.13% 44.81% 47.51% 48.18% 48.03% 48.03% 47.62% 48.46% 49.57% 50.04% 50.40% 50.40% 47.82% <-Median-> 10 EBITDA Margin
$720 <-12 mths -1.04%
EBIT $695.3 $772.0 $800.6 $821.8 $728.0 $744.3 $738.5 $720.6 <-Total Growth 4 EBIT
Change 11.03% 3.70% 2.65% -11.41% 2.24% -0.78% -2.42% 3.18% <-Median-> 4 Change
EBITDA Margin 27.70% 26.61% 26.83% 27.61% 25.01% 26.37% 26.64% 26.18% 26.83% <-Median-> 5 EBITDA Margin
Long Term Debt $2,877.1 $2,686.2 $2,982.4 $2,838.1 $2,444.5 $3,781.0 $3,382.3 $3,087.0 $3,046.9 $4,334.4 $4,979.2 $4,448.3 $4,510.8 $4,384.0 51.25% <-Total Growth 10 Debt Type
Change 177.66% -6.63% 11.03% -4.84% -13.87% 54.67% -10.55% -8.73% -1.30% 42.26% 14.88% -10.66% 1.41% -2.81% -3.07% <-Median-> 10 Change Lg Term R
Debt/Market Cap Ratio 1.23 0.76 0.98 0.87 0.57 1.16 0.60 0.65 0.65 1.23 1.89 1.56 1.61 1.58 1.01 <-Median-> 10 Debt/Market Cap Ratio Intang/GW
Assets/Current Liabilities Ratio 13.79 11.13 8.30 11.24 8.05 14.46 18.09 18.24 9.78 9.40 19.16 11.21 11.23 14.19 11.23 <-Median-> 10 Assets/Current Liab Ratio Liquidity
Current Liabilities/Asset Ratio 0.07 0.09 0.12 0.09 0.12 0.07 0.06 0.05 0.10 0.11 0.05 0.09 0.09 0.07 0.09 <-Median-> 10 Current Liab/Asset Ratio Liq. + CF
Debt to Cash Flow (Years) 5.28 3.54 4.33 3.81 2.56 5.45 3.89 3.36 2.99 3.49 5.17 3.79 3.96 4.06 3.80 <-Median-> 10 Debt to Cash Flow (Years) Debt Ratio
Leverage
Intangibles $1,911.0 $1,894.8 $2,124.9 $2,059.5 $1,978.3 $2,971.1 $2,850.8 $2,800.4 $2,739.9 $3,571.2 $3,661.9 $3,812.2 $3,808.8 $3,835.3 79.25% <-Total Growth 10 Intangibles D/E Ratio
Goodwill $1,192.0 $1,220.5 $1,504.4 $1,060.8 $1,023.4 $1,608.4 $1,373.4 $1,381.0 $1,476.2 $1,892.5 $2,117.8 $2,132.7 $2,166.7 $2,199.8 44.02% <-Total Growth 10 Goodwill
Total $3,103.0 $3,115.4 $3,629.3 $3,120.3 $3,001.7 $4,579.5 $4,224.3 $4,181.4 $4,216.1 $5,463.7 $5,779.7 $5,944.9 $5,975.5 $6,035.0 64.65% <-Total Growth 10 Total
Change 148.16% 0.40% 16.50% -14.02% -3.80% 52.56% -7.76% -1.01% 0.83% 29.59% 5.78% 2.86% 0.51% 1.00% 0.67% <-Median-> 10 Change
Intangible/Market Cap Ratio 1.32 0.89 1.19 0.95 0.70 1.40 0.76 0.89 0.90 1.55 2.19 2.09 2.13 2.18 1.18 <-Median-> 10 Intangible/Market Cap Ratio
Current Assets $156.8 $197.2 $364.0 $270.7 $380.6 $237.8 $672.6 $482.1 $654.1 $528.0 $556.4 $245.6 $557.2 $278.2 53.06% <-Total Growth 10 Current Assets
Current Liabilities $381.0 $464.7 $724.9 $475.0 $664.5 $495.7 $384.2 $373.0 $751.7 $987.1 $509.9 $863.0 $863.0 $690.4 19.05% <-Total Growth 10 Current Liabilities
Liquidity Ratio 0.41 0.42 0.50 0.57 0.57 0.48 1.75 1.29 0.87 0.53 1.09 0.28 0.65 0.40 0.61 <-Median-> 10 Ratio
Liq. with CF aft div 1.71 1.93 1.36 1.98 1.88 1.69 3.74 3.46 2.07 1.66 2.71 1.48 1.78 1.73 1.78 <-Median-> 5 Liq. with CF aft div
Liq. with CF aft div (WC) 2.12 2.08 1.66 2.25 1.86 2.22 3.65 3.36 2.13 1.69 3.00 1.62 1.93 1.59 Liq. with CF aft div (WC)
Liq. CF re  Inv+Div  0.20 0.84 0.61 1.08 0.94 0.27 1.55 1.21 0.78 0.41 0.80 0.51 0.79 1.26 0.78 <-Median-> 5 Liq. CF re  Inv+Div 
Curr Long Term Debt $15.190 $32.323 $297.629 $22.516 $131.915 $77.186 $22.601 $29.569 $225.344 $339.096 $41.765 $361.808 $43.632 $253.715 $225.3 <-Median-> 5 Curr Long Term Debt
Liquidity Less CLTD 0.43 0.46 0.85 0.60 0.71 0.57 1.86 1.40 1.24 0.81 1.19 0.49 0.68 0.64 0.81 <-Median-> 5 Liquidity Less CLTD
Liq. with CF aft div 1.78 2.07 2.30 2.07 2.35 2.00 3.98 3.75 2.95 2.53 2.95 2.55 1.88 2.73 2.55 <-Median-> 5 Liq. with CF aft div
Assets $5,253.1 $5,173.7 $6,014.0 $5,337.3 $5,348.4 $7,167.4 $6,951.1 $6,804.2 $7,351.7 $9,278.5 $9,768.4 $9,675.0 $9,692.4 $9,798.0 61.16% <-Total Growth 10 Assets
Liabilities $3,909.0 $3,665.5 $4,255.1 $3,841.2 $3,749.1 $4,863.9 $4,391.6 $4,162.4 $4,545.4 $6,089.4 $6,332.6 $6,200.3 $6,008.7 $6,035.3 41.21% <-Total Growth 10 Liabilities
Debt Ratio 1.34 1.41 1.41 1.39 1.43 1.47 1.58 1.63 1.62 1.52 1.54 1.56 1.61 1.62 1.55 <-Median-> 10 Ratio
Estimates BVPS $93.16 $97.87 $102.10 Estimates Estimates BVPS
Estimate Book Value $3,911.6 $4,109.3 $4,286.9 Estimates Estimate Book Value
P/B Ratio (Close) 0.71 0.67 0.65 Estimates P/B Ratio (Close)
Difference from 10 year median -63.52% Diff M/C Estimates Difference from 10 yr med.
Book Value $1,344.1 $1,508.3 $1,759.0 $1,496.1 $1,599.3 $2,303.5 $2,559.5 $2,641.8 $2,806.3 $3,189.1 $3,435.8 $3,474.7 $3,683.7 $3,762.8 $3,762.8 $3,762.8
NCI $0.0 $0.0 $0.0 $0.0 $0.0 $336.2 $359.7 $373.5 $391.2 $438.1 $478.0 $495.0 $523.1 536.63 0.00 0.00
Net Book Value $1,344.1 $1,508.3 $1,759.0 $1,496.1 $1,599.3 $1,967.3 $2,199.8 $2,268.2 $2,415.1 $2,751.1 $2,957.8 $2,979.7 $3,160.5 $3,226.1 $3,762.8 $3,762.8 79.68% <-Total Growth 10 Book Value
Book Value per share $27.49 $30.73 $35.73 $30.31 $32.31 $39.69 $44.52 $47.33 $51.56 $60.10 $66.49 $70.57 $74.75 $76.84 $89.62 $89.62 109.20% <-Total Growth 10 Book Value per Share
Increase 12.89% 11.78% 16.29% -15.18% 6.59% 22.87% 12.17% 6.31% 8.92% 16.58% 10.63% 6.13% 5.94% 2.78% 16.63% 0.00% -53.67% P/B Ratio Current/Historical Median
P/B Ratio (Median) 1.60 2.10 1.85 2.15 2.40 1.99 1.89 2.20 2.07 1.67 1.07 0.83 0.90 0.88 0.00 0.00 1.85 P/B Ratio Historical Median
P/B Ratio (Close) 1.75 2.33 1.73 2.19 2.68 1.66 2.54 2.08 1.95 1.28 0.89 0.95 0.89 0.86 0.74 0.74 7.66% <-IRR #YR-> 10 Book Value per Share 109.20%
Change 11.70% 33.57% -25.86% 26.43% 22.48% -38.09% 53.42% -18.08% -6.49% -34.41% -30.14% 6.93% -6.84% -3.54% -14.26% 0.00% 9.57% <-IRR #YR-> 5 Book Value per Share 57.94%
Median 10 year P/B Ratio 1.70 1.77 1.84 1.85 1.85 1.86 1.88 1.94 2.03 2.03 2.03 1.94 1.94 1.78 1.37 0.99 2.03 <-Median-> 5 Median 10 year P/B Ratio
Leverage (A/BK) 3.91 3.43 3.42 3.57 3.34 3.64 3.16 3.00 3.04 3.37 3.30 3.25 3.07 3.04 3.25 <-Median-> 5 A/BV
Debt/Equity Ratio 2.91 2.43 2.42 2.57 2.34 2.47 2.00 1.84 1.88 2.21 2.14 2.08 1.90 1.87 2.08 <-Median-> 5 Debt/Eq Ratio
Shareholders' Equity (Assets less Liabilities) P/B Ratios 10 yr Med 1.94 5 yr Med 1.07 -55.77% Diff M/C 3.25 Historical Leverage (A/BK)
-$35.73 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $74.75
-$47.33 $0.00 $0.00 $0.00 $0.00 $74.75
$297.40 <-12 mths -12.45%
Total Comprehensive Income $204.60 $218.89 $313.38 -$193.22 $295.26 $407.48 $348.77 $351.89 $411.58 $619.45 $480.99 $301.19 $356.70
NCI $0.00 $0.00 $0.00 $0.00 $0.00 $22.27 $23.25 $13.82 $17.68 $46.87 $39.93 $16.99 $16.99
Shareholders $204.60 $218.89 $313.38 -$193.22 $295.26 $385.21 $325.52 $338.08 $393.90 $572.58 $441.06 $284.20 $339.71 8.40% <-Total Growth 10 Comprehensive Income
Increase 1.06% 6.98% 43.17% -161.66% 252.81% 30.46% -15.50% 3.86% 16.51% 45.36% -22.97% -35.56% 19.53% 16.51% <-Median-> 5 Comprehensive Income
5 Yr Running Average $149 $168 $204 $225 $230 $348 $403 $414 $406 $406 0.81% <-IRR #YR-> 10 Comprehensive Income 8.40%
ROE 15.2% 14.5% 17.8% 0.0% 18.5% 19.6% 14.8% 14.9% 16.3% 20.8% 14.9% 9.5% 10.7% 0.10% <-IRR #YR-> 5 Comprehensive Income 0.48%
5Yr Median 15.2% 15.2% 17.8% 17.8% 14.9% 16.3% 16.3% 14.9% 14.9% 14.9% 11.77% <-IRR #YR-> 9 5 Yr Running Average #DIV/0!
% Difference from Net Income 10.5% 4.5% 21.6% 0.0% -1.3% 11.0% -21.6% -9.9% -1.9% 35.3% 12.4% -15.3% 5.1% 12.04% <-IRR #YR-> 5 5 Yr Running Average 76.52%
Median Values Diff 5, 10 yr -0.7% 5.1% 14.9% <-Median-> 5 Return on Equity
-$313.4 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $339.7
-$338.1 $0.0 $0.0 $0.0 $0.0 $339.7
-$149.2 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $406.3
-$230.2 $0.0 $0.0 $0.0 $0.0 $406.3
Current Liability Coverage Ratio 1.99 1.93 1.31 2.04 1.52 2.17 2.88 3.08 1.60 1.38 2.73 1.61 1.63 1.56   CFO / Current Liabilities
5 year Median 1.93 1.93 1.93 2.04 2.17 2.17 2.17 2.73 1.61 1.61 1.61 1.84 <-Median-> 10 Current Liability Cov Ratio
Asset Efficiency Ratio 14.46% 17.31% 15.80% 18.17% 18.89% 14.97% 15.94% 16.86% 16.38% 14.70% 14.25% 14.38% 14.52% 11.03% CFO / Total Assets
5 year Median 16.10% 17.31% 16.10% 17.31% 17.31% 17.31% 15.94% 16.86% 16.38% 15.94% 15.94% 14.70% 14.52% 14.38% 15.5% <-Median-> 10 Return on Assets 
Return on Assets ROA 3.52% 4.05% 4.29% -3.55% 5.59% 4.84% 5.98% 5.51% 5.46% 4.56% 4.02% 3.47% 3.33% 3.73% Net  Income/Assets Return on Assets
5Yr Median 2.65% 3.52% 3.52% 3.52% 4.05% 4.29% 4.84% 5.51% 5.51% 5.46% 5.46% 4.56% 4.02% 3.73% 4.7% <-Median-> 10 Asset Efficiency Ratio
Return on Equity ROE 13.77% 13.89% 14.65% 0.00% 18.71% 17.65% 18.88% 16.54% 16.62% 15.39% 13.26% 11.26% 10.23% 11.32% Net Inc/ Shareholders' equity Return on Equity
5Yr Median 6.48% 13.77% 13.77% 13.77% 13.89% 14.65% 17.65% 17.65% 17.65% 16.62% 16.54% 15.39% 13.26% 11.32% 16.0% <-Median-> 10 Return on Equity
$311 <-12 mths -3.69%
Net Income $185.08 $209.44 $257.75 -$189.63 $299.23 $356.34 $432.27 $396.59 $431.65 $453.76 $417.97 $354.13 $341.79
NCI $0.00 $0.00 $0.00 $0.00 $0.00 $9.19 $16.94 $21.42 $30.13 $30.46 $25.70 $18.60 $18.60
Shareholders $185.08 $209.44 $257.75 -$189.63 $299.23 $347.15 $415.33 $375.17 $401.52 $423.30 $392.27 $335.53 $323.19 $365.3 $371.9 $352.6 25.39% <-Total Growth 10 Net Income
Increase 140.21% 13.16% 23.07% -173.57% 257.80% 16.02% 19.64% -9.67% 7.02% 5.42% -7.33% -14.46% -3.68% 13.03% 1.81% -5.19% EPS/CF Ratio should not be higher than 1.00
5 Yr Running Average $29.4 $122.6 $142.7 $107.9 $152.4 $184.8 $226.0 $249.5 $367.7 $392 $402 $386 $375 $367.9 $357.6 $349.7 2.29% <-IRR #YR-> 10 Net Income 25.39%
Operating Cash Flow $545.0 $758.4 $688.9 $745.2 $956.7 $694.1 $868.7 $917.8 $1,019.1 $1,240.3 $962.9 $1,175.2 $1,138.0 -2.94% <-IRR #YR-> 5 Net Income -13.86%
Investment Cash Flow -$2,409.8 -$413.7 -$701.2 -$464.7 -$473.2 -$2,248.8 -$471.1 -$557.3 -$984.8 -$2,407.5 -$954.5 -$916.6 -$583.4 10.15% <-IRR #YR-> 10 5 Yr Running Average 162.95%
Total Accruals $2,049.9 -$135.2 $270.0 -$470.1 -$184.2 $1,901.8 $17.7 $14.6 $367.3 $1,590.5 $383.8 $76.9 -$231.5 8.50% <-IRR #YR-> 5 5 Yr Running Average 50.40%
Total Assets $5,253.1 $5,173.7 $6,014.0 $5,337.3 $5,348.4 $7,167.4 $6,951.1 $6,804.2 $7,351.7 $9,278.5 $9,768.4 $9,675.0 $9,692.4 Balance Sheet Assets
Accruals Ratio 39.02% -2.61% 4.49% -8.81% -3.44% 26.53% 0.25% 0.22% 5.00% 17.14% 3.93% 0.80% -2.39% 3.93% <-Median-> 5 Ratio
EPS/CF Ratio (WC) 0.24 0.23 0.27 0.00 0.30 0.32 0.37 0.32 0.33 0.31 0.28 0.24 0.23 0.30 <-Median-> 10 EPS/CF Ratio
-$257.8 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $323.2
-$375.2 $0.0 $0.0 $0.0 $0.0 $323.2
-$142.7 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $375.2
-$249.5 $0.0 $0.0 $0.0 $0.0 $375.2
Change in Close 26.10% 49.31% -13.78% 7.24% 30.56% -23.94% 72.09% -12.91% 1.86% -23.53% -22.71% 13.48% -1.31% -0.86% 0.00% 0.00% Count 28 Years of data
up/down up down up up up Count 7 25.00%
Meet Prediction? Yes Yes % right Count 3 42.86%
Financial Cash Flow $1,685.9 -$321.9 $106.3 -$381.3 -$333.0 $1,426.1 -$359.2 -$547.1 -$27.4 $891.9 -$23.8 -$542.4 -$552.6 C F Statement  Financial Cash Flow
Total Accruals $364.0 $186.7 $163.8 -$88.8 $148.8 $475.7 $376.9 $561.7 $394.7 $698.6 $407.6 $619.3 $321.1 Accruals
Accruals Ratio 6.93% 3.61% 2.72% -1.66% 2.78% 6.64% 5.42% 8.26% 5.37% 7.53% 4.17% 6.40% 3.31% 5.37% <-Median-> 5 Ratio
Cash $39.6 $63.8 $163.2 $62.3 $211.2 $84.7 $556.5 $366.5 $365.5 $549.1 $362.9 $76.3 $75.2 $65.1 Cash
Cash per Share $0.81 $1.30 $3.31 $1.26 $4.27 $1.71 $11.26 $7.65 $7.80 $12.00 $8.16 $1.81 $1.78 $1.55 $7.80 <-Median-> 5 Cash per Share
Percentage of Stock Price 1.69% 1.82% 5.37% 1.90% 4.93% 2.60% 9.95% 7.76% 7.77% 15.62% 13.75% 2.68% 2.67% 2.35% 7.77% <-Median-> 5 % of Stock Price
Notes:
January 23, 2026.  Last estimates were for 2025, 2026, 2027 of $2959M, $2955M, $2961M Revenue, $8.11, $8.07, $8.71 AEPS, $8.00, $8.17, $9.03 EPS, $3.69, $3.98, $4.30 Dividends, 
$449.1M, $471.8M, $555.2M FCF, $28.45, $28.07 2025/6 CFPS, $1444M, $1448M, $1467M for EBITDA, $89.42, $93.55, $97.16 BVPS, $341.9M, $344.2M, $341.4M Net Income.
January 26, 2025.  Last estimates were for 2024, 2025, 2026 of $2973, $1981, $2920 Revenue, $8.13, $8.32, 2024/5 AEPS, $8.28, $8.17, $7.69 EPS, $3.42, $3.76, $4.13 Dividends, 
$374.1M, $414.8M, $520M for FCF, $23.70, $23.20 2024/5CFPS, $84.20, $89.00, $93.00 BVPS, $352.8, $348.5M $318M for Net Income.
February 2024.  First report on this stock.
The Corporation is a subsidiary of Cogeco Inc. ("Cogeco"), which as of August 31, 2023 held 35.3% of the Corporation's equity
shares, representing 84.5% of the votes attached to the Corporation's voting shares. Cogeco Communications is a Canadian
public corporation whose subordinate voting shares are listed on the Toronto Stock Exchange ("TSX") under the trading
symbol "CCA".
Multiple Voting Shares have 10 votes per share
Subordinate Voting Shares have 1 vote per share
This company is a subsidiary of Cogeco Inc SV (TSX-CGO)
Sector:
Telecom
What should this stock accomplish?
Would I buy this company and Why.
Why am I following this stock. 
This stock was on the Money Sense list when I was looking for a new stock to follow. 
Why I bought this stock.
Note:
Income Trust law changed in October 2006.  It was to take effect for current income trust on January 1, 2011.
Dividends
Dividends are paid quarterly in Cycle 2 of November, February, May and August  Dividends are declared in one month for shareholders of record of that month and paid in the next month.
For example, the dividends declared on July 13, 2023 was for shareholders of record of Junely 27, 2023 and paid on August 10, 2023
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.
For customers 
For employees 
For community 
For investors 
How they make their money.
Cogeco Communications is a telecom service provider in Canada and the US, specifically in rural and suburban geographies. It offers 
wireline services such as broadband internet, TV, and landline phone services.  It operates in Canada and in US throughout the East Coast, Pennsylvania, and Ohio. 
Shares; '%, Value $M From Years Div. Gth Tot Ret Cap Gain Div. check Shares %, Val $M Shares %, Val $M Shares %, Val $M Shares %, Val $M Update this each year?? Change
Date 2018 5 10.31% 2.03% -2.04% 4.07% 2.03% 2023 Feb 2024 Jan 26 2025 Jan 23 2026
Perron, Frederic 2013 10 11.55% 5.91% 2.15% 3.77% 5.91% 0.000 0.00% 0.005 0.01% 0.008 0.02% 0.012 0.03% Was officer, CEO 2025 55.72%
CEO - Shares - Amount 2008 15 36.24% 6.92% 3.68% 3.24% 6.92% $0.026 $0.308 $0.533 $0.824
Options - percentage 2003 20 0.00% 9.44% 6.53% 2.91% 9.44% 0.055 0.12% 0.080 0.19% 0.196 0.46% 0.352 0.84% 79.92%
Options - amount 1998 25 10.78% 5.88% 3.86% 2.01% 5.88% $3.238 $5.416 $12.995 $23.179
1993 30 10.35% 7.70% 5.70% 2.00% 7.70%
Jetter, Philippe 0.013 0.03% 0.016 0.04% Ceased insider Mar 2024
CEO - Shares - Amount From Years Div. Gth Tot Ret Cap Gain Div. check $0.797 $1.071
Options - percentage 2019 5 10.22% -5.86% -9.20% 3.34% -5.86% 0.235 0.53% 0.337 0.80%
Options - amount 2014 10 11.03% 3.80% 0.29% 3.50% 3.80% $13.929 $22.714
2009 15 13.98% 9.55% 5.95% 3.60% 9.55%
Ouimet, Patrice 2004 20 0.00% 8.92% 5.93% 2.99% 8.92% 0.006 0.01% 0.007 0.02% 0.009 0.02% 0.009 0.02% Cannot find in 2026 0.00%
CFO - Shares - Amount 1999 25 11.21% 6.28% 4.16% 2.12% 6.28% $0.359 $0.498 $0.620 $0.615
Options - percentage 1994 30 0.00% 8.35% 6.16% 2.20% 8.35% 0.102 0.23% 0.127 0.30% 0.166 0.39% 0.120 0.29% -27.40%
Options - amount 1993 31 8.03% 5.95% 2.07% 8.03% $6.079 $8.520 $11.028 $7.938
Gillespie, Linda Carol From Years Div. Gth Tot Ret Cap Gain Div. check 0.000 0.00% 0.001 0.00% 0.002 0.00% 150.78%
Officer - Shares - Amount 2020 5 9.71% -3.85% -7.58% 3.80% -3.78% $0.019 $0.055 $0.137
Options - percentage 2015 10 10.17% 4.55% 0.74% 3.74% 4.48% 0.019 0.04% 0.042 0.10% 0.054 0.13% 28.33%
Options - amount 2010 15 13.39% 6.83% 3.27% 3.52% 6.79% $1.275 $2.775 $3.530
2005 20 21.50% 8.25% 5.12% 2.87% 7.99%
Lepage, Marie Ginette 2000 25 11.55% 4.76% 2.69% 1.99% 4.68% 0.001 0.00% 0.002 0.01% Ceased Insider Sep 2025 -100.00%
Officer - Shares - Amount 1995 30 10.25% 9.63% 6.99% 2.74% 9.73% $0.095 $0.151
Options - percentage 1993 32 7.86% 5.71% 2.22% 7.93% 0.018 0.04% 0.034 0.08% -100.00%
Options - amount $1.211 $2.264
Brushett, Sean 0.003 0.01% 0.004 0.01% 20.69%
Officer - Shares - Amount $0.231 $0.277
Options - percentage 0.036 0.08% 0.055 0.13% 53.76%
Options - amount $2.378 $3.625
Bell, Mary-Ann 0.001 0.00% 0.001 0.00% 0.001 0.00% Ceased insider Jan 2026
Director - Shares - Amount $0.053 $0.061 $0.060
Options - percentage 0.002 0.00% 0.003 0.01% 0.003 0.01%
Options - amount $0.101 $0.186 $0.183
Abdoulah, Colleen 0.000 0.00% 0.003 0.01% 0.003 0.01% 0.003 0.01% 0.00%
Director - Shares - Amount $0.000 $0.189 $0.186 $0.185
Options - percentage 0.006 0.01% 0.009 0.02% 0.009 0.02% 0.014 0.03% 60.27%
Options - amount $0.368 $0.579 $0.571 $0.907
Cherry, James Charles 0.001 0.00% 0.001 0.00% 0.001 0.00% 0.00%
Director - Shares - Amount $0.067 $0.066 $0.066
Options - percentage 0.007 0.02% 0.007 0.02% 0.010 0.02% 39.32%
Options - amount $0.483 $0.476 $0.658
Audet, Louis 0.107 0.24% 0.111 0.26% 0.113 0.27% 0.114 0.27% 1.41%
Chairman - Shares - Amt $6.343 $7.509 $7.500 $7.541
Options - percentage 0.255 0.57% 0.212 0.50% 0.212 0.50% 0.210 0.50% -0.77%
Options - amount $15.108 $14.283 $14.097 $13.868
Increase in O/S Shares 0.076 0.17% 0.069 0.15% 0.077 0.18% 0.053 0.13%
Due to Stock Options $5.820 $4.112 $5.206 $3.516
Book Value $4.412 $3.657 $6.218 $3.302
Insider Buying $0.000 -$0.175 $0.000 $0.000
Insider Selling $0.000 $2.687 $0.000 $0.085
Net Insider Selling $0.000 $2.512 $0.000 $0.085 0 in 2025
Net Selling % of Market Cap 0.00% 0.09% 0.00% 0.00%
Directors 10 10 10
Women 4 40% 4 40% 4 40%
Minorities 0 0% 0 0% 0 0%
Institutions/Holdings 20 12.56% 20 16.19%
Total Shares Held 5.290 12.51% 6.796 16.19%
Increase/Decrease 3 Mths 0.000 0.00% -0.274 -3.88%
Starting No. of Shares 5.290 7.070
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