This report is for educational purposes only, and not to provide investment advice.  Before making any investment decision, you should always do your own research or consult a investment professional. Estimates Estimates Estimates
While I try to be accurate, I assume no responsibility for any figure in this spreadsheet. Q2 2026
See my website on stocks or see my blog at the following sites.  https://spbrunner.com/stocks.html https://spbrunner.blogspot.com/ 6/30/26
Cenovus Energy Inc TSX: CVE NYSE: CVE https://www.cenovus.com/ Fiscal Yr: Dec 31
Year 12/31/13 12/31/14 12/31/15 12/31/16 12/31/17 12/31/18 12/31/19 12/31/20 12/31/21 12/31/22 12/31/23 12/31/24 12/31/25 12/31/26 12/31/27 12/30/28 Value Description #Y Item Total G Curr
Accounting Rules IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS IFRS Accounting Rules
Currency Exchange Rate 1.0636 1.1601 1.3847 1.3427 1.2545 1.3642 1.2988 1.2732 1.2678 1.3544 1.3226 1.4389 1.3706 1.4154 1.4154 1.4154
Reporting Currency CDN$ CDN$ CDN$ CDN$ CDN$ CDN$ CDN$ CDN$ CDN$ CDN$ CDN$ CDN$ CDN$ CDN$ CDN$ CDN$
split
AEC to ECA
$38,054 <-12 mths 4.95%
Revenue before Royalties US$ $17,857 $17,332 $9,538 $9,147 $13,802 $15,679 $16,441 $10,675 $38,501 $52,987 $41,943 $46,352 $45,011 371.94% <-Total Growth 10 Revenue before Royalties US$
Rev US$ pre 09
Revenue  US$ $17,541 $16,931 $9,434 $9,037 $13,585 $15,279 $15,538 $10,389 $36,565 $49,392 $39,471 $37,721 $36,259 $44,868 $41,477 $38,592 284.33% <-Total Growth 10 Revenue US$
Increase 3.82% -3.48% -44.28% -4.21% 50.33% 12.47% 1.69% -33.14% 251.97% 35.08% -20.09% -4.43% -3.88% 23.74% -7.56% -6.95% 14.41% <-IRR #YR-> 10 Revenue 284.33% US$
5 year Running Average $14,690 $15,883 $15,234 $13,968 $13,306 $12,853 $12,575 $12,766 $18,271 $25,433 $30,271 $34,708 $39,882 $41,542 $39,959 $39,783 28.40% <-IRR #YR-> 5 Revenue 249.02% US$
Revenue per Share $23.20 $22.36 $11.32 $10.84 $11.06 $12.43 $12.64 $8.45 $18.27 $25.87 $21.09 $20.67 $19.25 $24.26 $22.43 $20.87 10.10% <-IRR #YR-> 10 5 yr Running Average 161.79% US$
Increase 3.79% -3.61% -49.37% -4.21% 1.95% 12.47% 1.69% -33.14% 116.13% 41.59% -18.49% -1.98% -6.86% 26.0% -7.6% -7.0% 25.59% <-IRR #YR-> 5 5 yr Running Average 212.41% US$
5 year Running Average $19.48 $21.04 $19.93 $18.02 $15.76 $13.60 $11.66 $11.09 $12.57 $15.54 $17.27 $18.87 $21.03 $22.23 $21.54 $21.49 5.45% <-IRR #YR-> 10 Revenue per Share 70.04% US$
P/S (Price/Sales) Med 1.34 1.10 1.44 1.20 1.00 0.73 0.71 0.72 0.53 0.72 0.86 0.89 0.76 1.03 0.00 0.00 17.89% <-IRR #YR-> 5 Revenue per Share 127.72% US$
P/S (Price/Sales) Close 1.23 0.92 1.09 1.40 0.83 0.57 0.80 0.71 0.67 0.75 0.79 0.73 0.88 1.36 1.47 1.58 0.54% <-IRR #YR-> 10 5 yr Running Average 5.51% US$
Revenue Net of Royalities in $M US$ P/S Med 20 yr  0.94 15 yr  0.89 10 yr  0.74 5 yr  0.76 82.95% Diff M/C 13.66% <-IRR #YR-> 5 5 yr Running Average 89.68% US$
-$9,434 $0 $0 $0 $0 $0 $0 $0 $0 $0 $36,259
-$10,389 $0 $0 $0 $0 $36,259
-$15,234 $0 $0 $0 $0 $0 $0 $0 $0 $0 $39,882
-$12,766 $0 $0 $0 $0 $39,882
-$11.32 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $19.25
-$8.45 $0.00 $0.00 $0.00 $0.00 $19.25
-$19.93 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $21.03
-$11.09 $0.00 $0.00 $0.00 $0.00 $21.03
$53,861 <-12 mths 8.38%
Intersegment Sales $8,234 $8,970 First in 2024
8.94%
Revenue before Royalties CDN$ $18,993 $20,107 $13,207 $12,282 $17,314 $21,389 $21,353 $13,591 $48,811 $71,765 $55,474 $66,696 $61,692 367.12% <-Total Growth 10 Revenue before Royalties CDN$
Change 10.24% 5.87% -34.32% -7.00% 40.97% 23.54% -0.17% -36.35% 259.14% 47.03% -22.70% 20.23% -7.50% 10.0% <-Median-> 10
Rev* CDN Pre 09 CDN$
Revenue less Royalities* CDN$ $18,657 $19,642 $13,064 $12,134 $17,043 $20,844 $20,181 $13,227 $46,357 $66,897 $52,204 $54,277 $49,696 $63,506 $58,706 $54,623 280.40% <-Total Growth 10 Revenue CDN$
Change 10.78% 5.28% -33.49% -7.12% 40.46% 22.30% -3.18% -34.46% 250.47% 44.31% -21.96% 3.97% -8.44% 27.8% -7.6% -7.0% 14.29% <-IRR #YR-> 10 Revenue 280.40% CDN$
5 year Running Average $15,071 $16,696 $16,780 $16,068 $16,108 $16,545 $16,653 $16,686 $23,530 $33,501 $39,773 $46,592 $53,886 $57,316 $55,678 $56,162 30.31% <-IRR #YR-> 5 Revenue 275.72% CDN$
Revenue per Share $24.68 $25.94 $15.68 $14.56 $13.87 $16.96 $16.42 $10.76 $23.16 $35.04 $27.89 $29.74 $26.39 $34.34 $31.74 $29.53 12.37% <-IRR #YR-> 10 5 yr Running Average 221.13% CDN$
Increase 10.75% 5.13% -39.57% -7.12% -4.75% 22.30% -3.18% -34.46% 115.21% 51.26% -20.41% 6.64% -11.28% 30.13% -7.56% -6.95% 26.42% <-IRR #YR-> 5 5 yr Running Average 222.95% CDN$
5 year Running Average $19.99 $22.11 $21.89 $20.63 $18.95 $17.40 $15.50 $14.52 $16.24 $20.47 $22.66 $25.32 $28.44 $30.68 $30.02 $30.35 5.34% <-IRR #YR-> 10 Revenue per Share 68.31% CDN$
P/S (Price/Sales) Med 1.27 1.04 1.32 1.28 1.06 0.69 0.73 0.74 0.51 0.67 0.89 0.84 0.78 1.01 0.00 0.00 19.64% <-IRR #YR-> 5 Revenue per Share 145.15% CDN$
P/S (Price/Sales) Close 1.23 0.92 1.12 1.39 0.83 0.57 0.80 0.72 0.67 0.75 0.96 0.73 0.88 1.36 1.47 1.58 2.66% <-IRR #YR-> 10 5 yr Running Average 29.96% CDN$
*Revenue Net of Royalities CDN $M (ACE to end 2001) P/S Med 20 yr  1.16 15 yr  0.89 10 yr  0.76 5 yr  0.78 79.58% Diff M/C 14.40% <-IRR #YR-> 5 5 yr Running Average 95.95% CDN$
-$13,064 $0 $0 $0 $0 $0 $0 $0 $0 $0 $49,696
-$13,227 $0 $0 $0 $0 $49,696
-$16,780 $0 $0 $0 $0 $0 $0 $0 $0 $0 $53,886
-$16,686 $0 $0 $0 $0 $53,886
-$15.68 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $26.39
-$10.76 $0.00 $0.00 $0.00 $0.00 $26.39
-$21.89 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $28.44
-$14.52 $0.00 $0.00 $0.00 $0.00 $28.44
$13,503 <-12 mths 52.22%
$7.30 <-12 mths 49.90%
AFFO Amount* CDN$ $4,484 $3,479 $1,691 $1,423 $2,914 $1,674 $3,702 $147 $7,248 $10,978 $8,803 $8,164 $8,871 $8,551 -100.00% <-Total Growth 10 AFFO Amount* CDN$
AFFO per Share Basic* $5.93 $4.60 $2.07 $1.71 $2.64 $1.36 $3.01 $0.12 $0.59 $5.63 $4.64 $4.41 $4.90 AFFO per Share Basic*
AFFO per Share Diluted* $4.76 $4.59 $2.07 $1.71 $2.64 $1.36 $3.01 $0.12 $3.54 $5.47 $4.57 $4.38 $4.87 $4.96 135.27% <-Total Growth 10 AFFO per Share Diluted* 13.53% CDN$
Increase -0.83% -3.57% -54.90% -17.39% 54.39% -48.48% 121.32% -96.01% 2850.00% 54.52% -16.45% -4.16% 11.19% 1.85% 10 0 10 Years of Data, AFFP, P or N 100.00% CDN$
5 year Running Average $4.33 $4.11 $3.59 $3.15 $2.47 $2.16 $1.77 $2.13 $2.70 $3.34 $3.62 $4.57 $4.85 8.93% <-IRR #YR-> 10 AFFO -100.00% CDN$
AFFO Yield 15.66% 19.15% 11.83% 8.42% 23.00% 14.17% 22.80% 1.55% 22.82% 20.82% 17.05% 20.10% 20.97% 10.63% 109.73% <-IRR #YR-> 5 AFFO -100.00% CDN$
Payout Ratio 20.34% 23.20% 41.18% 11.70% 7.58% 14.71% 7.06% 52.08% 2.47% 6.40% 11.49% 15.53% 16.02% 17.34% -44.75% <-IRR #YR-> 10 5 yr Running Average 77.31% CDN$
5 year Running Average 21.45% 24.68% 22.95% 20.80% 19.67% 16.44% 18.62% 16.78% 16.54% 15.90% 17.59% 10.38% 13.35% -34.71% <-IRR #YR-> 5 5 yr Running Average 1254.53% CDN$
P/AFFO Med 6.56 5.88 10.03 10.87 5.58 8.60 4.00 66.04 3.37 4.32 5.43 5.70 4.21 6.97 5.51 <-Median-> 10 P/AFFO Med CDN$
P/AFFO High 7.10 7.56 12.36 12.43 7.75 10.76 4.65 113.17 4.67 5.66 6.35 6.81 5.32 9.52 6.58 <-Median-> 10 P/AFFO High CDN$
P/AFFO Low 6.03 4.20 7.69 9.31 3.41 6.43 3.34 18.92 2.07 2.98 4.52 4.59 3.11 4.43 3.96 <-Median-> 10 P/AFFO Low CDN$
P/AFFO Close 6.39 5.22 8.45 11.87 4.35 7.06 4.39 64.58 4.38 4.80 5.86 4.97 4.77 9.41 4.89 <-Median-> 10 P/AFFO Close CDN$
Trailing P/AFFO Close 5.04 3.81 9.81 6.71 3.64 9.71 2.57 129.25 7.42 4.90 4.77 5.30 9.58 6.01 <-Median-> 10 Trailing P/AFFO Close CDN$
Median Values Historical   in order 6.22 7.65 5.31 6.13 P/AFFP 5 Yrs   in order 4.32 5.66 3.11 4.80 117.95% Diff M/C DPR 75% to 95% best CDN$
* Adjusted Funds Flow
-$2.07 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $4.87
-$0.12 $0.00 $0.00 $0.00 $0.00 $4.87
-$4.11 $0.00 $0.00 $0.00 $0.00 $0.00 -$2.13 $0.00 $0.00 $0.00 $0.21
-$1.77 $0.00 $0.00 $0.00 $0.00 $0.21
$8,619 <-12 mths 117.43%
$4.69 <-12 mths 115.51%
FFO Amount* CDN$ $4,484 $3,479 $1,691 $1,423 $2,914 $1,674 $2,494 -$724 $4,685 $7,270 $4,505 $3,149 $3,964 134.42% <-Total Growth 10 FFO Amount* CDN$
FFO per Share* $4.76 $4.59 $2.07 $1.64 $2.64 $1.36 $2.03 -$0.59 $2.32 $3.62 $2.34 $1.69 $2.18 $3.14 5.23% <-Total Growth 10 FFO per Share* 0.52% CDN$
Increase -0.83% -3.57% -54.90% -20.65% 60.91% -48.47% 48.96% -129.04% 494.42% 55.96% -35.44% -27.77% 28.88% 44.16% 9 1 10 Years of Data, AFFP, P or N 90.00% CDN$
5 year Running Average $4.33 $4.11 $3.57 $3.14 $2.46 $1.95 $1.42 $1.55 $1.75 $1.95 $1.88 $2.43 $2.59 0.51% <-IRR #YR-> 10 FFO 134.42% CDN$
FFO Yield 15.66% 19.15% 11.83% 8.09% 23.02% 14.19% 15.37% -7.60% 14.98% 13.80% 8.73% 7.76% 9.38% 6.73% #NUM! <-IRR #YR-> 5 FFO 647.51% CDN$
Payout Ratio 20.34% 23.20% 41.18% 12.18% 7.57% 14.69% 10.48% -10.61% 3.77% 9.66% 22.44% 40.23% 35.81% 27.39% -51.75% <-IRR #YR-> 10 5 yr Running Average -20.69% CDN$
5 year Running Average 16.81% 21.45% 24.68% 23.04% 20.89% 19.76% 17.22% 6.86% 5.18% 5.60% 7.15% 13.10% 22.38% 27.11% -41.90% <-IRR #YR-> 5 5 yr Running Average 223.40% CDN$
Price/FFO Median 6.56 5.88 10.03 11.32 5.57 8.58 5.93 -13.45 5.13 6.52 10.61 14.77 9.42 11.02 7.55 <-Median-> 10 Price/FFO Median CDN$
Price/FFO High 7.10 7.56 12.36 12.94 7.74 10.75 6.91 -23.05 7.11 8.54 12.41 17.64 11.89 15.04 9.65 <-Median-> 10 Price/FFO High CDN$
Price/FFO Low 6.03 4.20 7.69 9.69 3.41 6.42 4.95 -3.85 3.15 4.49 8.82 11.90 6.95 6.99 5.68 <-Median-> 10 Price/FFO Low CDN$
Price/FFO Close 6.39 5.22 8.45 12.36 4.34 7.05 6.51 -13.15 6.67 7.25 11.45 12.89 10.66 14.86 7.15 <-Median-> 10 Price/FFO Close CDN$
Trailing P/FFO Close 6.33 5.04 3.81 9.81 6.99 3.63 9.69 3.82 -26.33 11.31 7.40 9.31 13.74 21.43 8.35 <-Median-> 10 Trailing P/FFO Close CDN$
Median Values Historical   in order 7.63 8.92 6.39 7.15 P/FFO 5 Yrs   in order 9.42 11.89 6.95 10.66 57.81% Diff M/C DPR 75% to 95% best CDN$
* Free Funds Flow
-$2.07 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.18
$0.59 $0.00 $0.00 $0.00 $0.00 $2.18
-$4.11 -$3.57 -$3.14 -$2.46 -$1.95 -$1.42 $0.00 $0.00 $0.00 $0.00 $0.09
-$1.42 $0.00 $0.00 $0.00 $0.00 $0.09
$2.54 <-12 mths 623.43%
pre split 2005
EPS* US$ pre 09
EPS Basic US$ $0.83 $0.84 $0.54 -$0.48 $2.43 -$1.59 $1.37 -$1.52 $0.21 $2.43 $1.63 $1.17 $1.58 190.97% <-Total Growth 10 EPS Basic US$
pre split 2005
EPS* US$ pre 09
EPS Diluted* US$ $0.82 $0.84 $0.54 -$0.48 $2.43 -$1.59 $1.37 -$1.52 $0.21 $2.36 $1.60 $1.16 $1.57 $4.01 $3.63 $3.15 189.62% <-Total Growth 10 EPS Diluted US$
Increase -37.76% 3.27% -35.88% -189.38% 602.22% -165.43% 186.16% -211.18% 113.98% 1009.40% -32.16% -27.59% 35.16% 155.37% -9.49% -13.21% 7 3 10 Years of Data, EPS P or N US$
Earnings Yield 2.9% 4.1% 4.4% -3.2% 26.6% -22.6% 13.5% -25.2% 1.7% 12.2% 9.6% 7.7% 9.3% 12.2% 11.0% 9.6% 11.22% <-IRR #YR-> 10 Earnings per Share 189.62% US$
5 year Running Average $1.28 $1.24 $1.09 $0.61 $0.83 $0.35 $0.45 $0.04 $0.18 $0.17 $0.81 $0.76 $1.38 $2.14 $2.39 $2.70 #NUM! <-IRR #YR-> 5 Earnings per Share 202.95% US$
10 year Running Average $1.91 $1.88 $1.74 $1.37 $1.36 $0.81 $0.85 $0.56 $0.39 $0.50 $0.58 $0.61 $0.71 $1.16 $1.28 $1.75 2.44% <-IRR #YR-> 10 5 yr Running Average -59.19% US$
*Fully diluted EPS E/P 10 Yrs 8.47% 5Yrs 9.27% 102.42% <-IRR #YR-> 5 5 yr Running Average 26.28% US$
-$0.54 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.57
$1.52 $0.00 $0.00 $0.00 $0.00 $1.57
-$1.09 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.38
-$0.04 $0.00 $0.00 $0.00 $0.00 $1.38
$3.60 <-12 mths 67.44%
pre split 2005
EPS* CDN$ pre 09
EPS Basic CND$ $0.88 $0.98 $0.75 -$0.65 $3.05 -$2.17 $1.78 -$1.94 $0.27 $3.29 $2.15 $1.68 $2.16 188.00% <-Total Growth 10 EPS Basic CDN$
pre stock exch 02
pre split 2005
EPS* CDN$ pre 09
EPS Diluted* CDN$ $0.87 $0.98 $0.75 -$0.65 $3.05 -$2.17 $1.78 -$1.94 $0.27 $3.20 $2.12 $1.67 $2.15 $5.67 $5.13 $4.45 186.67% <-Total Growth 10 EPS Diluted CDN$
Increase -33.59% 12.64% -23.47% -186.67% 569.23% -171.15% 182.03% -208.99% 113.92% 1085.19% -33.75% -21.23% 28.74% 163.72% -9.49% -13.21% 7 3 10 Years of Data, EPS P or N CDN$
Earnings Yield 2.9% 4.1% 4.3% -3.2% 26.6% -22.6% 13.5% -25.0% 1.7% 12.2% 7.9% 7.7% 9.3% 12.1% 11.0% 9.5% 11.11% <-IRR #YR-> 10 Earnings per Share 186.67% CDN$
5 year Running Average $1.31 $1.29 $1.17 $0.65 $1.00 $0.39 $0.55 $0.01 $0.20 $0.23 $1.09 $1.06 $1.88 $2.96 $3.35 $3.82 #NUM! <-IRR #YR-> 5 Earnings per Share 210.82% CDN$
10 year Running Average $2.12 $2.07 $1.93 $1.48 $1.54 $0.85 $0.92 $0.59 $0.43 $0.61 $0.74 $0.81 $0.95 $1.58 $1.79 $2.45 4.85% <-IRR #YR-> 10 5 yr Running Average 60.58% CDN$
*Fully diluted EPS E/P 10 Yrs 7.79% 5Yrs 7.91% 166.50% <-IRR #YR-> 5 5 yr Running Average 13342.86% CDN$
-$0.75 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.15
$1.94 $0.00 $0.00 $0.00 $0.00 $2.15
-$1.17 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.88
-$0.01 $0.00 $0.00 $0.00 $0.00 $1.88
Dividend US$ $0.62 $0.65 $0.69 Estimates Dividend US$
Increase 8.26% 6.26% 5.50% Estimates Increase
Payout Ratio EPS 15.38% 18.06% 21.95% Estimates Payout Ratio EPS
Actual Special Dividend US$ $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.09 $0.00 $0.10 $0.00
Actual US$ $0.94 $0.95 $0.71 $0.15 $0.15 $0.15 $0.16 $0.06 $0.31 $0.26 $0.39 $0.49 $0.00 -100.00% <-Total Growth 10 Actual From CVE  Site
Special Dividends US$ $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.08 $0.00 $0.09 $0.00 $0.00 $0.00 $0.00 $0.00 <-Median-> 10 Special Dividends
pre split 2005
Div US$ pre 09 US$
Dividend US$ $0.91 $0.92 $0.62 $0.15 $0.16 $0.15 $0.16 $0.05 $0.07 $0.26 $0.40 $0.47 $0.57 $0.61 $0.62 $0.62 -7.55% <-Total Growth 10 Dividends US$
Increase 3.09% 0.85% -32.93% -75.80% 7.03% -8.04% 11.60% -70.00% 40.60% 274.42% 53.61% 19.05% 20.42% 6.77% 2.33% 0.00% 23 8 33 Years of data Count P, N US$
Average Increases 5 Year Running 3.27% 3.82% -3.83% -20.47% -19.55% -21.78% -19.63% -27.04% -3.76% 49.72% 62.05% 63.54% 81.62% 74.85% 20.44% 9.71% -11.66% <-Median-> 10 Average Incr 5 Year Running US$
Dividends 5 Yr Running $0.84 $0.87 $0.84 $0.70 $0.55 $0.40 $0.25 $0.13 $0.12 $0.15 $0.20 $0.28 $0.39 $0.50 $0.55 $0.60 -53.58% <-Total Growth 10 Dividends 5 Yr Running US$
Yield H/L Price 2.94% 3.74% 3.77% 1.14% 1.44% 1.62% 1.83% 0.81% 0.71% 1.38% 2.18% 2.58% 3.91% 2.44% 1.53% <-Median-> 10 Yield H/L Price US$
Yield on High  Price 2.66% 2.82% 2.98% 0.91% 1.04% 1.31% 1.57% 0.47% 0.51% 1.05% 1.87% 2.17% 3.07% 1.79% 1.18% <-Median-> 10 Yield on High  Price US$
Yield on Low Price 3.28% 5.55% 5.13% 1.53% 2.34% 2.12% 2.18% 2.99% 1.20% 2.05% 2.62% 3.17% 5.38% 3.83% 2.26% <-Median-> 10 Yield on Low Price US$
Yield on Close Price 3.18% 4.45% 4.99% 0.98% 1.75% 2.09% 1.61% 0.81% 0.56% 1.33% 2.38% 3.12% 3.36% 1.84% 1.89% 1.89% 1.68% <-Median-> 10 Yield on Close Price US$
Payout Ratio EPS 111.26% 108.65% 113.65% 0.00% 6.56% 0.00% 11.94% 0.00% 32.41% 14.50% 24.76% 48.80% 36.28% 15.17% 17.15% 19.76% 13.22% <-Median-> 10 DPR EPS US$
DPR EPS 5 Yr Running 65.88% 70.45% 77.16% 114.53% 66.29% 114.09% 54.40% 328.51% 65.28% 92.69% 25.37% 37.32% 28.14% 23.20% 23.08% 22.11% 65.79% <-Median-> 10 DPR EPS 5 Yr Running US$
Payout Ratio CFPS 20.68% 22.86% 48.19% 19.36% 8.03% 11.41% 7.95% 28.13% 2.96% 5.86% 13.30% 13.44% 17.85% 9.26% 9.69% 9.82% 12.36% <-Median-> 10 DPR CF US$
DPR CF 5 Yr Running 20.57% 21.17% 22.65% 23.17% 22.11% 21.31% 16.74% 10.65% 7.50% 7.51% 8.54% 10.61% 11.83% 12.02% 12.19% 11.48% 11.24% <-Median-> 10 DPR CF 5 Yr Running US$
Payout Ratio CFPS WC 20.28% 23.17% 42.00% 11.71% 8.43% 14.68% 7.01% 52.25% 2.46% 6.12% 11.36% 15.53% 16.82% 9.26% 9.69% 9.82% 11.53% <-Median-> 10 DPR CF WC US$
DPR CF WC 5 Yr Running 20.67% 21.07% 22.03% 21.69% 21.04% 20.74% 15.51% 10.13% 7.24% 7.38% 7.89% 10.43% 11.47% 11.99% 12.06% 11.61% 10.95% <-Median-> 10 DPR CF WC 5 Yr Running US$
Median Values 10 Yr Med 10 Yr Cl 1.53% 1.68% 5 Yr Med 5 Yr Cl 2.18% 2.38% 5 Yr Med Payout 32.41% 13.30% 11.36% 63.25% <-IRR #YR-> 5 Dividends 1059.31% US$
* Dividends per share  10 Yr Med and Cur. 23.33% 12.41% 5 Yr Med and Cur. -13.55% -20.83% Last Div Inc ---> $0.1600 $0.0500 -68.8% -0.78% <-IRR #YR-> 10 Dividends -7.55% US$
Dividends Growth 15 -2.26% <-IRR #YR-> 15 Dividends -29.08% US$
Dividends Growth 20 7.05% <-IRR #YR-> 20 Dividends 290.78% US$
Dividends Growth 25 10.85% <-IRR #YR-> 25 Dividends US$
Dividends Growth 30 8.58% <-IRR #YR-> 30 Dividends
Dividends Growth 35 8.96% <-IRR #YR-> 33 Dividends
Dividends Growth 5 -$0.05 $0.00 $0.00 $0.00 $0.00 $0.57 Dividends Growth 5
Dividends Growth 10 -$0.62 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.57 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 $0.57 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 $0.57 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 $0.57 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 $0.57 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 $0.57 Dividends Growth 35
Historical Dividends Historical High Div 5.43% Low Div 0.50% 10 Yr High 5.16% 10 Yr Low 0.47% Med Div 2.34% Close Div 2.38% Historical Dividends CDN$
High/Ave/Median Values Curr diff Exp. -65.24%     277.49% Exp. -63.42% 301.59% Exp. -19.34% Exp. -20.83% High/Ave/Median  CDN$
Dividends* CDN$ $0.87 $0.93 $0.98 Estimates Dividends* CDN$
Increase 11.79% 6.26% 5.50% Estimates Increase
Payout Ratio EPS 15.38% 18.06% 21.95% Estimates Payout Ratio EPS
Special Dividends CDN$ $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.11 $0.00 $0.14 $0.00 $0.00 $0.00 $0.00 <-Median-> 10 Special Dividends CDN$
AEC Div
pre split 2005
Dividends CDN$* $0.97 $1.06 $0.85 $0.20 $0.20 $0.20 $0.21 $0.06 $0.09 $0.35 $0.53 $0.68 $0.78 $0.86 $0.88 $0.88 -8.49% <-Total Growth 10 Dividends CDN$
Increase 10.00% 10.00% -19.95% -76.54% 0.00% 0.00% 6.25% -70.59% 40.00% 300.00% 50.00% 29.52% 14.71% 10.26% 2.33% 0.00% 16 6 33 Years of data Count P, N CDN$
Average Increases 5 Year Running 0.83% 6.00% 2.01% -15.30% -15.30% -17.30% -18.05% -28.18% -4.87% 55.13% 65.13% 69.79% 86.85% 80.90% 21.36% 11.36% -10.08% <-Median-> 10 Average Incr 5 Year Running CDN$
Dividends 5 Yr Running $0.87 $0.92 $0.93 $0.79 $0.66 $0.50 $0.33 $0.18 $0.15 $0.21 $0.27 $0.39 $0.53 $0.69 $0.77 $0.84 -42.49% <-Total Growth 10 Dividends 5 Yr Running CDN$
Yield H/L Price 3.10% 3.95% 4.11% 1.08% 1.36% 1.71% 1.77% 0.79% 0.73% 1.48% 2.11% 2.72% 3.80% 2.49% 1.60% <-Median-> 10 Yield H/L Price CDN$
Yield on High  Price 2.87% 3.07% 3.33% 0.94% 0.98% 1.37% 1.52% 0.46% 0.53% 1.13% 1.81% 2.28% 3.01% 1.82% 1.25% <-Median-> 10 Yield on High  Price CDN$
Yield on Low Price 3.37% 5.52% 5.35% 1.26% 2.22% 2.29% 2.12% 2.75% 1.20% 2.15% 2.54% 3.38% 5.15% 3.92% 2.26% <-Median-> 10 Yield on Low Price CDN$
Yield on Close Price 3.18% 4.44% 4.87% 0.99% 1.74% 2.08% 1.61% 0.81% 0.56% 1.33% 1.96% 3.12% 3.36% 1.84% 1.89% 1.89% 1.68% <-Median-> 10 Yield on Close Price CDN$
Payout Ratio EPS 111.26% 108.65% 113.65% 0.00% 6.56% 0.00% 11.94% 0.00% 32.41% 14.50% 24.76% 48.80% 36.28% 15.17% 17.15% 19.76% 13.22% <-Median-> 10 DPR EPS CDN$
DPR EPS 5 Yr Running 66.18% 71.43% 79.27% 121.63% 65.70% 128.43% 60.32% 1250.00% 77.02% 90.04% 24.89% 36.73% 28.39% 23.25% 23.06% 22.10% 71.36% <-Median-> 10 DPR EPS 5 Yr Running CDN$
Payout Ratio CFPS 20.68% 22.86% 48.19% 19.36% 8.03% 11.41% 7.95% 28.13% 2.96% 5.86% 13.30% 13.44% 17.85% 9.26% 9.7% 9.8% 12.36% <-Median-> 10 DPR CF CDN$
DPR CF 5 Yr Running 20.56% 21.21% 23.25% 23.79% 22.46% 21.51% 17.13% 10.71% 7.55% 7.56% 8.57% 10.76% 11.98% 12.03% 12.16% 11.47% 11.37% <-Median-> 10 DPR CF 5 Yr Running CDN$
Payout Ratio CFPS WC 20.28% 23.17% 42.00% 11.71% 8.43% 14.68% 7.01% 52.25% 2.46% 6.12% 11.36% 15.53% 16.82% 9.26% 9.69% 9.82% 11.53% <-Median-> 10 DPR CF WC CDN$
DPR CF WC 5 Yr Running 20.67% 21.12% 22.58% 22.12% 21.23% 20.86% 15.85% 10.18% 7.31% 7.45% 7.93% 10.62% 11.66% 12.02% 12.06% 11.60% 11.14% <-Median-> 10 DPR CF WC 5 Yr Running CDN$
Median Values 10 Yr Med 10 Yr Cl 1.60% 1.68% 5 Yr Med 5 Yr Cl 2.11% 1.96% 5 Yr Med Payout 32.41% 13.30% 11.36% 65.67% <-IRR #YR-> 5 Dividends 1148.00% CDN$
* Dividends per share  10 Yr Med and Cur. 18.11% 12.50% 5 Yr Med and Cur. -10.80% -3.75% Last Div Inc ---> $0.2000 $0.2200 10.00% -0.88% <-IRR #YR-> 10 Dividends -8.49% CDN$
Dividends Growth 15 -0.17% <-IRR #YR-> 15 Dividends -2.50% CDN$
Dividends Growth 20 7.94% <-IRR #YR-> 20 Dividends 360.53% CDN$
Dividends Growth 25 10.39% <-IRR #YR-> 25 Dividends 1082.60% CDN$
Dividends Growth 30 8.58% <-IRR #YR-> 30 Dividends CDN$
Dividends Growth 35 8.21% <-IRR #YR-> 33 Dividends
Historical Dividends Historical High Div 4.83% Low Div 0.54% 10 Yr High 4.97% 10 Yr Low 0.47% Med Div 1.60% Close Div 1.68% 10.00% Historical Dividends CDN$
High/Ave/Median Values Curr diff Exp. -60.96%     249.18% Exp. -62.06% 301.19% Cheap 17.85% Cheap 12.50% High/Ave/Median  CDN$
Future Dividend Yield Div Yd $0.03 earning in 5 Years at IRR of 10.00% Div Inc. 61.05% Future Dividend Yield CDN$
Future Dividend Yield Div Yd 4.89% earning in 10 Years at IRR of 10.00% Div Inc. 159.37% Future Dividend Yield CDN$
Future Dividend Yield Div Yd 7.88% earning in 15 Years at IRR of 10.00% Div Inc. 317.72% Future Dividend Yield CDN$
Future Dividend Paid Div Paid $1.42 earning in 5 Years at IRR of 10.00% Div Inc. 61.05% Future Dividend Paid CDN$
Future Dividend Paid Div Paid $2.28 earning in 10 Years at IRR of 10.00% Div Inc. 159.37% Future Dividend Paid CDN$
Future Dividend Paid Div Paid $3.68 earning in 15 Years at IRR of 10.00% Div Inc. 317.72% Future Dividend Paid CDN$
Dividend Covering Cost Total Div $5.37 over 5 Years at IRR of 10.00% Div Cov. 11.51% Dividend Covering Cost CDN$
Dividend Covering Cost Total Div $12.61 over 10 Years at IRR of 10.00% Div Cov. 27.01% Dividend Covering Cost CDN$
Dividend Covering Cost Total Div $24.26 over 15 Years at IRR of 10.00% Div Cov. 51.98% Dividend Covering Cost CDN$
Yield if held 5 years 2.86% 3.98% 2.94% 0.58% 0.57% 0.64% 0.79% 0.30% 0.47% 2.38% 4.49% 5.65% 9.84% 7.21% 3.73% 3.54% 0.71% <-Median-> 10 Paid Median Price CDN$
Yield if held 10 years 8.17% 7.18% 3.44% 0.76% 0.67% 0.59% 0.79% 0.22% 0.25% 1.00% 1.68% 2.52% 3.76% 4.63% 5.97% 7.53% 0.78% <-Median-> 10 Paid Median Price CDN$
Yield if held 15 years 18.13% 16.22% 9.42% 1.90% 1.89% 1.69% 1.43% 0.25% 0.33% 1.17% 1.55% 2.54% 2.69% 2.49% 2.52% 2.82% 1.62% <-Median-> 10 Paid Median Price CDN$
Yield if held 20 years 30.01% 32.09% 26.17% 4.41% 3.94% 3.75% 3.24% 0.69% 0.83% 3.31% 4.43% 4.59% 3.15% 3.29% 2.95% 2.60% 3.53% <-Median-> 10 Paid Median Price CDN$
Yield if held 25 years 9.07% 6.20% 6.40% 1.92% 1.93% 6.90% 9.83% 10.36% 8.62% 8.16% 8.33% 7.43% 6.90% <-Median-> 9 Paid Median Price CDN$
Yield if held 30 years 15.87% 16.27% 20.49% 23.95% 18.97% 17.36% 16.48% 18.38% <-Median-> 4 Paid Median Price CDN$
Yield if held 35 years 39.90% 27.28% #NUM! <-Median-> 0 Paid Median Price CDN$
Cost covered if held 5 years 12.79% 17.17% 16.03% 11.49% 9.41% 8.06% 6.17% 4.22% 4.10% 6.97% 11.56% 16.25% 33.71% 28.89% 16.35% 16.97% 8.73% <-Median-> 10 Paid Median Price CDN$
Cost covered if held 10 years 52.13% 48.03% 31.50% 29.75% 25.46% 20.22% 23.40% 19.05% 13.71% 12.35% 12.38% 13.41% 17.09% 22.63% 33.16% 47.62% 18.07% <-Median-> 10 Paid Median Price CDN$
Cost covered if held 15 years 125.22% 117.01% 93.65% 81.31% 81.57% 73.38% 59.26% 35.04% 32.67% 28.90% 24.22% 30.70% 28.26% 23.69% 23.41% 25.88% 33.85% <-Median-> 10 Paid Median Price CDN$
Cost covered if held 20 years 217.43% 241.48% 270.15% 197.02% 178.84% 172.37% 142.36% 103.33% 88.55% 91.29% 84.80% 72.43% 45.82% 45.84% 41.83% 36.67% 97.31% <-Median-> 10 Paid Median Price CDN$
Cost covered if held 25 years 425.74% 295.46% 291.65% 297.01% 213.83% 199.08% 197.69% 172.12% 132.86% 121.22% 127.83% 120.38% 213.83% <-Median-> 9 Paid Median Price CDN$
Cost covered if held 30 years 472.29% 337.35% 350.53% 379.02% 289.79% 275.21% 276.65% 364.78% <-Median-> 4 Paid Median Price CDN$
Cost covered if held 35 years 649.93% 469.79% #NUM! <-Median-> 0 Paid Median Price CDN$
Yr  Item Tot. Growth Per Year
Revenue Growth CDN$ $13,227 $46,357 $66,897 $52,204 $54,277 $49,696 $63,506 <-12 mths 27.79% 275.72% <-Total Growth 5 Revenue Growth  275.72% 30.31%
FFO Growth -$0.59 $2.32 $3.62 $2.34 $1.69 $2.18 $4.69 <-12 mths 115.51% 469.72% <-Total Growth 5 FFO Growth 469.72% 41.62%
Net Income Growth -$2,379 $587 $6,450 $4,109 $3,142 $3,930 $6,660 <-12 mths 69.47% 265.20% <-Total Growth 5 Net Income Growth 265.20% 29.57%
Cash Flow Growth $273 $5,919 $11,403 $7,388 $9,235 $8,228 $12,356 <-12 mths 50.17% 2913.92% <-Total Growth 5 Cash Flow Growth 2913.92% 97.62%
Dividend Growth $0.06 $0.09 $0.35 $0.53 $0.68 $0.78 $0.86 <-12 mths 10.26% 1148.00% <-Total Growth 5 Dividend Growth 1148.00% 65.67%
Stock Price Growth $7.75 $15.51 $26.27 $26.80 $21.79 $23.22 $46.67 <-12 mths 100.99% 199.61% <-Total Growth 5 Stock Price Growth 199.61% 24.54%
Revenue Growth CDN$ $13,064 $12,134 $17,043 $20,844 $20,181 $13,227 $46,357 $66,897 $52,204 $54,277 $49,696 $63,506 <-this year 27.79% 280.40% <-Total Growth 10 Revenue Growth  280.40% 14.29%
FFO Growth $2.07 $1.64 $2.64 $1.36 $2.03 -$0.59 $2.32 $3.62 $2.34 $1.69 $2.18 $4.69 <-this year 115.51% 5.23% <-Total Growth 10 FFO Growth 5.23% 0.51%
Net Income Growth $618 -$545 $3,366 -$2,669 $2,194 -$2,379 $587 $6,450 $4,109 $3,142 $3,930 $6,660 <-this year 69.47% 535.92% <-Total Growth 10 Net Income Growth 535.92% 20.32%
Cash Flow Growth $1,474 $861 $3,059 $2,154 $3,285 $273 $5,919 $11,403 $7,388 $9,235 $8,228 $12,356 <-this year 50.17% 458.21% <-Total Growth 10 Cash Flow Growth 458.21% 18.76%
Dividend Growth $0.85 $0.20 $0.20 $0.20 $0.21 $0.06 $0.09 $0.35 $0.53 $0.68 $0.78 $0.9 <-this year 10.26% -8.49% <-Total Growth 10 Dividend Growth -8.49% -0.88%
Stock Price Growth $17.50 $20.30 $11.48 $9.60 $13.20 $7.75 $15.51 $26.27 $26.80 $21.79 $23.22 $52.60 <-this year 126.53% 32.69% <-Total Growth 10 Stock Price Growth 32.69% 2.87%
Dividends on Shares $11.60 $11.60 $11.60 $12.33 $3.63 $5.08 $26.91 $30.45 $47.27 $45.24 $49.88 $51.04 $51.04 $205.70 No of Years 10 Total Divs 12/31/15
Paid  $1,015.00 $1,177.40 $665.84 $556.80 $765.60 $449.50 $899.58 $1,523.66 $1,554.40 $1,263.82 $1,346.76 $2,706.86 $2,706.86 $2,706.86 $1,346.76 No of Years 10 Worth $17.50 57.14
Total $1,552.46
Graham No. AFFO $37.54 $37.28 $26.32 $22.67 $31.10 $20.87 $26.71 $24.91 $24.83 $34.32 $28.41 $24.90 $28.69 $36.14 $0.00 $0.00 9.00% <-Total Growth 10 Graham Price AFFO CDN$
Price/GP Ratio Med 0.83 0.72 0.79 0.82 0.47 0.56 0.45 0.32 0.48 0.69 0.87 1.00 0.72 0.96 0.62 <-Median-> 10 Price/GP Ratio CDN$
Price/GP Ratio High 0.90 0.93 0.97 0.94 0.66 0.70 0.52 0.55 0.67 0.90 1.02 1.20 0.90 1.31 0.80 <-Median-> 10 Price/GP Ratio CDN$
Price/GP Ratio Low 0.76 0.52 0.60 0.70 0.29 0.42 0.38 0.09 0.29 0.47 0.73 0.81 0.53 0.61 0.45 <-Median-> 10 Price/GP Ratio CDN$
Price/GP Ratio Close 0.81 0.64 0.66 0.90 0.37 0.46 0.49 0.31 0.62 0.77 0.94 0.88 0.81 1.29 #DIV/0! #DIV/0! 0.70 <-Median-> 10 Price/GP Ratio CDN$
Prem/Disc Close -19.01% -35.69% -33.50% -10.46% -63.08% -54.00% -50.57% -68.89% -37.53% -23.45% -5.66% -12.49% -19.05% 29.12% #DIV/0! #DIV/0! -30.49% <-Median-> 10 Graham Price CDN$
Graham No. last 3 EPS $21.26 $20.41 $18.77 $16.47 $11.48 $18.33 $5.19 $16.47 $12.55 $3.45 $13.26 $26.14 $29.67 $28.70 $36.28 $42.38 58.04% <-Total Growth 10 Graham Price Last 3 EPS CDN$
Price/GP Ratio Med 1.47 1.32 1.11 1.13 1.28 0.64 2.32 0.48 0.95 6.84 1.87 0.95 0.69 1.21 0.00 0.00 1.04 <-Median-> 10 Price/GP Ratio CDN$
Price/GP Ratio High 1.59 1.70 1.36 1.29 1.78 0.80 2.70 0.82 1.32 8.97 2.19 1.14 0.87 1.65 0.00 0.00 1.30 <-Median-> 10 Price/GP Ratio CDN$
Price/GP Ratio Low 1.35 0.94 0.85 0.97 0.78 0.48 1.93 0.14 0.58 4.72 1.56 0.77 0.51 0.76 0.00 0.00 0.78 <-Median-> 10 Price/GP Ratio CDN$
Price/GP Ratio Close 1.43 1.17 0.93 1.23 1.00 0.52 2.54 0.47 1.24 7.61 2.02 0.83 0.78 1.63 1.29 1.10 1.12 <-Median-> 10 Price/GP Ratio CDN$
Prem/Disc Close 56.97% 20.65% -8.04% 12.40% 0.01% -36.57% 32.01% -95.94% 35.02% 70.76% 50.06% -17.59% -22.63% 37.00% 22.49% 9.96% 6.21% <-Median-> 10 Graham Price CDN$
Graham No. EPS $16.05 $17.22 $15.84 $30.89 $33.40 $23.86 $25.02 $9.09 $8.46 $32.25 $27.04 $24.75 $28.50 $48.57 $46.21 $43.05 79.91% <-Total Growth 10 Graham Price EPS CDN$
Price/GP Ratio Med 1.95 1.57 1.31 0.60 0.44 0.49 0.48 0.87 1.41 0.73 0.92 1.01 0.72 0.71 0.73 <-Median-> 10 Price/GP Ratio CDN$
Price/GP Ratio High 2.11 2.01 1.62 0.69 0.61 0.61 0.56 1.49 1.95 0.96 1.07 1.20 0.91 0.97 0.93 <-Median-> 10 Price/GP Ratio CDN$
Price/GP Ratio Low 1.79 1.12 1.01 0.52 0.27 0.37 0.40 0.25 0.86 0.50 0.76 0.81 0.53 0.45 0.51 <-Median-> 10 Price/GP Ratio CDN$
Price/GP Ratio Close 1.89 1.39 1.10 0.66 0.34 0.40 0.53 0.85 1.83 0.81 0.99 0.88 0.81 0.96 1.01 1.08 0.81 <-Median-> 10 Price/GP Ratio CDN$
Prem/Disc Close 89.44% 39.17% 10.47% -34.29% -65.63% -59.77% -47.23% -14.72% 83.26% -18.54% -0.90% -11.96% -18.52% -3.91% 1.00% 8.42% -18.53% <-Median-> 10 Graham Price CDN$
AEC to 2001
pre split 2005
Price Close CDN$ $30.40 $23.97 $17.50 $20.30 $11.48 $9.60 $13.20 $7.75 $15.51 $26.27 $26.80 $21.79 $23.22 $46.67 $46.67 $46.67 32.69% <-Total Growth 10 Stock Price CDN$
Increase -8.68% -21.15% -26.99% 16.00% -43.45% -16.38% 37.50% -41.29% 100.13% 69.37% 2.02% -18.69% 6.56% 100.99% 0.00% 0.00% 25.79 <-Median-> 10 CAPE (10 Yr P/E) CDN$
P/E 34.94 24.46 23.33 -31.23 3.76 -4.42 7.42 -3.99 57.44 8.21 12.64 13.05 10.80 8.23 9.09 10.48 24.54% <-IRR #YR-> 5 Stock Price 199.61% CDN$
Trailing P/E 23.21 27.55 17.86 27.07 -17.66 3.15 -6.08 4.35 -7.99 97.30 8.38 10.28 13.90 21.71 8.23 9.09 2.87% <-IRR #YR-> 10 Stock Price 32.69% CDN$
CAPE (10 Yr P/E) 13.41 14.07 14.70 18.75 16.67 28.03 24.62 13.07 36.49 42.79 36.27 26.97 24.49 29.54 26.10 19.04 28.48% <-IRR #YR-> 5 Price & Dividend 321.09% CDN$
Median 10, 5 Yrs D.  per yr 1.67% 3.94% % Tot Ret 36.77% 13.84% T P/E 6.36 10.28 P/E:  7.81 12.64 4.54% <-IRR #YR-> 10 Price & Dividend 52.95% CDN$
Price 15 D.  per yr 1.93% % Tot Ret -432.76% CAPE Diff -68.09% -2.37% <-IRR #YR-> 15 Stock Price -30.23% CDN$
Price  20 D.  per yr 2.36% % Tot Ret 124.92% -0.47% <-IRR #YR-> 20 Stock Price -8.99% CDN$
Price  25 D.  per yr 2.88% % Tot Ret 51.34% 2.73% <-IRR #YR-> 25 Stock Price 96.13% CDN$
Price  30 D.  per yr 3.45% % Tot Ret 40.08% 5.16% <-IRR #YR-> 29 Stock Price CDN$
Price  35 D.  per yr 3.95% % Tot Ret 36.85% 6.76% <-IRR #YR-> 33 Stock Price CDN$
Price & Dividend 15 -0.45% <-IRR #YR-> 15 Price & Dividend -5.61% CDN$
Price & Dividend 20 1.89% <-IRR #YR-> 20 Price & Dividend 35.50% CDN$
Price & Dividend 25 5.61% <-IRR #YR-> 25 Price & Dividend 197.63% CDN$
Price & Dividend 30 8.62% <-IRR #YR-> 29 Price & Dividend CDN$
Price & Dividend 35 10.71% <-IRR #YR-> 33 Price & Dividend CDN$
Price H/L Median CDN $31.24 $26.99 $20.76 $18.59 $14.74 $11.69 $12.03 $7.93 $11.92 $23.62 $24.84 $24.96 $20.52 $34.59 -1.16% <-Total Growth 10 Stock Price CDN$
Increase -10.5% -13.6% -23.1% -10.4% -20.7% -20.7% 2.9% -34.1% 50.4% 98.1% 5.2% 0.5% -17.8% 68.6% -0.12% <-IRR #YR-> 10 Stock Price -1.16% CDN$
P/E 35.91 27.54 27.67 -28.60 4.83 -5.39 6.76 -4.09 44.15 7.38 11.71 14.95 9.54 6.10 20.95% <-IRR #YR-> 5 Stock Price 158.86% CDN$
Trailing P/E 23.85 31.02 21.18 24.79 -22.67 3.83 -5.54 4.45 -6.14 87.46 7.76 11.77 12.28 16.09 1.56% <-IRR #YR-> 10 Price & Dividend CDN$
P/E on Run. 5 yr Ave 23.88 20.98 17.71 28.51 14.74 29.82 21.78 566.07 60.20 103.57 22.87 23.46 10.90 11.68 25.07% <-IRR #YR-> 5 Price & Dividend CDN$
P/E on Run. 10 yr Ave 14.75 13.04 10.77 12.56 9.59 13.75 13.08 13.36 28.05 38.46 33.61 30.89 21.64 21.89 14.33 P/E Ratio Historical Median CDN$
Median 10, 5 Yrs D.  per yr 1.67% 4.12% % Tot Ret 107.47% 16.44% T P/E 6.11 11.77 P/E:  7.07 11.71 Count 34 Years of data
High Months Jan Aug Feb Dec Jan Jul  Apr Jan Nov Jun Oct Apr Nov Sep
AEC
pre split 2005
Price High CDN$ $33.78 $34.68 $25.59 $21.26 $20.47 $14.64 $14.01 $13.58 $16.52 $30.95 $29.03 $29.81 $25.89 $47.23 1.17% <-Total Growth 10 Stock Price CDN$
Increase -14.07% 2.66% -26.21% -16.92% -3.72% -28.48% -4.30% -3.07% 21.65% 87.35% -6.20% 2.69% -13.15% 82.43% 0.12% <-IRR #YR-> 10 Stock Price 1.17% CDN$
P/E 38.8 35.4 34.1 -32.7 6.7 -6.7 7.9 -7.0 61.2 9.7 13.7 17.9 12.0 8.3 13.77% <-IRR #YR-> 5 Stock Price 90.65% CDN$
Trailing P/E 25.8 39.9 26.1 28.3 -31.5 4.8 -6.5 7.6 -8.5 114.6 9.1 14.1 15.5 22.0 16.52 P/E Ratio Historical Median CDN$
Median 10, 5 Yrs T P/E 8.35 14.06 P/E:  8.77 13.69 34.12 P/E Ratio Historical High CDN$
-$25.59 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $25.89
-$13.58 $0.00 $0.00 $0.00 $0.00 $25.89
Low Months Apr Dec Aug Aug Jun Dec Feb Mar Jan Jan May Jan Apr Jan
AEC
pre split 2005
Price Low pre 09
Price Low CDN$ $28.70 $19.29 $15.92 $15.92 $9.00 $8.74 $10.04 $2.27 $7.32 $16.28 $20.64 $20.11 $15.14 $21.95 -4.90% <-Total Growth 10 Stock Price CDN$
Increase -5.93% -32.79% -17.47% 0.00% -43.47% -2.89% 14.87% -77.39% 222.47% 122.40% 26.78% -2.57% -24.71% 44.98% -0.50% <-IRR #YR-> 10 Stock Price -4.90% CDN$
P/E 33.0 19.7 21.2 -24.5 3.0 -4.0 5.6 -1.2 27.1 5.1 9.7 12.0 7.0 3.9 46.16% <-IRR #YR-> 5 Stock Price 566.96% CDN$
Trailing P/E 21.9 22.2 16.2 21.2 -13.8 2.9 -4.6 1.3 -3.8 60.3 6.5 9.5 9.1 10.2 11.71 P/E Ratio Historical Median CDN$
Median 10, 5 Yrs T P/E 4.66 9.07 P/E:  5.36 9.74 5.09 P/E Ratio Historical Low CDN$
-$15.92 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $15.14
-$2.27 $0.00 $0.00 $0.00 $0.00 $15.14
US$ from CDN$ stock price $28.58 $20.66 $12.64 $15.12 $9.15 $7.04 $10.16 $6.09 $12.23 $19.40 $20.26 $15.14 $16.94 $32.97 $32.97 $32.97
Price Close US$ $28.65 $20.62 $12.34 $15.13 $9.13 $7.03 $10.15 $6.04 $12.28 $19.41 $16.65 $15.15 $16.92 $32.94 $32.94 $32.94 37.12% <-Total Growth 10 Stock Price US$
Increase -14.6% -28.0% -40.2% 22.6% -39.7% -23.0% 44.4% -40.5% 103.3% 58.1% -14.2% -9.0% 11.7% 94.7% 0.0% 0.0% 17.88 <-Median-> 10 CAPE (10 Yr P/E) US$
P/E 35.03 24.41 22.78 -31.25 3.76 -4.42 7.41 -3.96 57.66 8.22 10.39 13.05 10.79 8.22 9.08 10.47 22.88% <-IRR #YR-> 5 Stock Price 180.13% US$
Trailing P/E 21.80 25.21 14.61 27.93 -18.86 2.89 -6.38 4.41 -8.06 91.14 7.05 9.45 14.58 21.00 8.22 9.08 3.21% <-IRR #YR-> 10 Stock Price 37.12% US$
CAPE (10 Yr P/E) 14.99 11.00 7.08 11.08 6.72 8.63 11.97 10.73 31.21 38.95 28.87 24.90 23.79 28.39 25.74 18.79 26.70% <-IRR #YR-> 5 Price & Dividend 212.32% US$
Median 10, 5 Yrs D.  per yr 1.71% 3.82% % Tot Ret 34.83% 14.31% T P/E 5.73 9.45 P/E:  7.81 10.79 4.92% <-IRR #YR-> 10 Price & Dividend 58.28% US$
Price 15 D.  per yr 1.80% % Tot Ret -69.39% CAPE Diff -54.02% -4.40% <-IRR #YR-> 15 Stock Price -49.10% US$
Price  20 D.  per yr 2.64% % Tot Ret 195.74% -1.29% <-IRR #YR-> 20 Stock Price
Price & Dividend 15 -2.60% <-IRR #YR-> 15 Price & Dividend  2067.86% US$
Price & Dividend 20 1.35% <-IRR #YR-> 20 Price & Dividend 
Price H/L Median US$ $30.99 $24.52 $16.34 $13.02 $11.05 $9.06 $8.97 $6.06 $9.68 $18.67 $18.18 $18.35 $14.55 $24.89 -10.93% <-Total Growth 10 Stock Price US$
Increase -10.1% -20.9% -33.4% -20.3% -15.1% -18.0% -1.0% -32.5% 59.9% 92.9% -2.6% 0.9% -20.7% 71.0% -1.15% <-IRR #YR-> 10 Stock Price -10.93% US$
P/E 3732.84 408.67 812.48 -85.12 -72.24 -52.38 -49.68 -21.49 -198.86 33.86 27.91 26.29 16.75 30.76 19.17% <-IRR #YR-> 5 Stock Price 140.30% US$
Trailing P/E 109.18 2953.98 272.25 647.59 -72.24 -59.23 -51.83 -33.55 -34.36 -383.55 32.98 28.17 20.85 28.65 1.98% <-IRR #YR-> 10 Price & Dividend US$
P/E on Run. 5 yr Ave 1081.27 798.60 490.39 1384.03 1130.97 663.19 591.06 1315.63 1827.58 1650.96 1005.27 804.43 482.95 1366.65 22.71% <-IRR #YR-> 5 Price & Dividend US$
P/E on Run. 10 yr Ave 918.67 444.21 305.08 1036.39 497.25 395.92 423.57 219.92 809.80 868.42 714.73 542.67 282.42 635.15 27.10 P/E Ratio Historical Median US$
Median 10, 5 Yrs D.  per yr 3.13% 3.55% % Tot Ret 158.05% 15.62% T P/E -33.95 20.85 P/E:  -35.58 26.29 Count 16 Years of data
High Months Jan Jul Feb Jun Jan May Apr Jan Nov Jun Oct Apr Nov Sep
Price High US$ $34.23 $32.50 $20.66 $16.32 $15.30 $11.19 $10.44 $10.47 $13.61 $24.71 $21.21 $21.80 $18.52 $33.92 -10.36% <-Total Growth 10 Stock Price US$
Increase -13.45% -5.05% -36.43% -21.01% -6.25% -26.86% -6.70% 0.29% 29.99% 81.56% -14.16% 2.78% -15.05% 83.15% -1.09% <-IRR #YR-> 10 Stock Price -10.36% US$
P/E 39.3 33.2 27.5 -25.1 5.0 -5.2 5.9 -5.4 50.4 7.7 10.0 13.1 8.6 6.0 12.08% <-IRR #YR-> 5 Stock Price 76.89% US$
Trailing P/E 120.6 3915.4 344.3 811.7 -100.0 -73.2 -60.4 -58.0 -48.3 -507.6 38.5 33.5 26.5 39.1 11.53 P/E Ratio Historical Median US$
Median 10, 5 Yrs T P/E -53.16 26.54 P/E:  6.79 10.00 31.97 P/E Ratio Historical High US$
-$20.66 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $18.52
-$10.47 $0.00 $0.00 $0.00 $0.00 $18.52
Low Months Jun Dec Aug Feb Jun Dec Feb Mar Jan Jan May Jan Apr Jan
Price Low US$ $27.74 $16.54 $12.01 $9.72 $6.80 $6.93 $7.49 $1.64 $5.75 $12.63 $15.15 $14.90 $10.58 $15.85 -11.91% <-Total Growth 10 Stock Price US$
Increase -5.49% -40.37% -27.39% -19.07% -30.04% 1.91% 8.08% -78.10% 250.61% 119.65% 19.95% -1.65% -28.99% 49.81% -1.26% <-IRR #YR-> 10 Stock Price -11.91% US$
P/E 3341.9 275.7 597.4 -63.5 -44.5 -40.1 -41.5 -5.8 -118.1 22.9 23.3 21.4 12.2 19.6 45.19% <-IRR #YR-> 5 Stock Price 545.12% US$
Trailing P/E 97.7 1992.6 200.2 483.5 -44.5 -45.3 -43.3 -9.1 -20.4 -259.5 27.5 22.9 15.2 18.3 22.13 P/E Ratio Historical Median US$
Median 10, 5 Yrs T P/E -14.75 15.16 P/E:  -22.94 21.35 -43.27 P/E Ratio Historical Low US$
-$12.01 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $10.58
-$1.64 $0.00 $0.00 $0.00 $0.00 $10.58
Free Cash Flow Mkt Sc -$712 $3,356 $7,695 $3,090 $4,220 $3,964 $9,871 $9,881 $8,778 <-Total Growth 5 Free Cash Flow Mkt Sc CDN$
Change 571.35% 129.29% -59.84% 36.57% -6.07% 149.02% 0.10% -11.16% 36.57% <-Median-> 5 Change CDN$
$10,205 <-12 mths 177.01%
Free Cash Flow MS old 2024 $468 -$240 -$173 $1,389 $777 $2,102 -$586 $3,356 $7,645
Free Cash Flow MS $270 $420 -$20 $390 $1,240 $300 $2,540 -$710 $4,580 $7,070 $4,283 $2,915 $3,684 $9,871 18520.00% <-Total Growth 10 Free Cash Flow MS, Mkt S CDN$
Change 1031.03% 55.56% -104.76% 2050.00% 217.95% -75.81% 746.67% -127.95% 745.07% 54.37% -39.42% -31.94% 26.38% 167.94% #NUM! <-IRR #YR-> 5 Free Cash Flow MS 618.87% CDN$
FCF/CF from Op Ratio 0.08 0.14 -0.02 0.61 0.51 0.19 1.00 -3.31 0.98 0.84 0.77 0.45 0.61 0.81 #NUM! <-IRR #YR-> 10 Free Cash Flow MS 18520.00% CDN$
Dividends paid $732 $805 $528 $166 $225 $245 $260 $77 $176 $901 $1,026 $1,551 $1,437 $1,591 172.16% <-Total Growth 10 Dividends paid CDN$
Percentage paid -2640.00% 42.56% 18.15% 81.67% 10.24% -10.85% 3.84% 12.74% 23.96% 53.21% 39.01% 16.11% $0.21 <-Median-> 10 Percentage paid CDN$
5 Year Coverage 297.06% 280.89% 106.78% 84.51% 32.00% 25.88% 12.36% 12.04% 13.74% 20.57% 22.59% 23.38% 5 Year Coverage CDN$
Dividend Coverage Ratio -0.04 2.35 5.51 1.22 9.77 -9.22 26.02 7.85 4.17 1.88 2.56 6.21 3.37 <-Median-> 10 Dividend Coverage Ratio CDN$
5 Year of Coverage 3.13 3.86 8.09 8.31 7.28 4.86 4.43 4.28 5 Year of Coverage CDN$
$6,069 <-12 mths 91.21%
Free Cash Flow WSJ $747 -$102 -$106 $1,536 $832 $2,175 -$586 $3,411 $7,732 $3,174 $4,285 $3,408 $9,871 3441.18% <-Total Growth 10 Free Cash Flow WSJ CDN$
Change -113.65% -3.92% 1549.06% -45.83% 161.42% -126.94% 682.08% 126.68% -58.95% 35.00% -20.47% 189.64% #NUM! <-IRR #YR-> 5 Free Cash Flow MS 83.88% CDN$
FCF/CF from Op Ratio 0.25 -0.10 -0.17 0.63 0.53 0.86 -2.73 0.73 0.92 0.57 0.67 0.57 0.81 #NUM! <-IRR #YR-> 10 Free Cash Flow MS 81.99% CDN$
Dividends paid $805 $528 $166 $225 $245 $260 $77 $176 $901 $1,026 $1,551 $1,437 $1,591 172.16% <-Total Growth 10 Dividends paid
Percentage paid 107.76% -517.65% -156.60% 14.65% 29.45% 11.95% -13.14% 5.16% 11.65% 32.33% 36.20% 42.17% 16.11% 13.30% <-Median-> 10 Percentage paid CDN$
5 Year Coverage 67.73% 32.85% 25.27% 13.34% 12.23% 15.34% 20.71% 23.13% 22.85% 5 Year Coverage CDN$
Dividend Coverage Ratio 0.93 -0.19 -0.64 6.83 3.40 8.37 -7.61 19.38 8.58 3.09 2.76 2.37 6.21 4.58 <-Median-> 8 Dividend Coverage Ratio CDN$
5 Year of Coverage 1.48 3.04 3.96 7.50 8.18 6.52 4.83 4.32 4.38 5 Year of Coverage CDN$
Market Cap US$ $21,661 $15,611 $10,283 $12,608 $11,219 $8,638 $12,473 $7,422 $24,575 $37,057 $31,167 $27,649 $31,867 $60,923 $60,923 $60,923 209.91% <-Total Growth 10 Market Cap  US$
Market Cap Pre 09 Full company
Market Cap CDN$ $22,984 $18,148 $14,583 $16,916 $14,107 $11,796 $16,221 $9,524 $31,039 $50,154 $50,166 $39,768 $43,733 $86,317 $86,317 $86,317 199.90% <-Total Growth 10 Market Cap CDN$
Diluted # of Shares in Million 757.5 757.6 818.7 866.3 1,102.5 1,229.2 1,229.4 1,228.9 2,016.2 2,006.1 1,925.4 1,863.2 1,819.9 1,871.7 122.29% <-Total Growth 10 Diluted
Change -0.13% 0.01% 8.06% 5.81% 27.27% 11.49% 0.02% -0.04% 64.07% -0.50% -4.02% -3.23% -2.33% 2.85% -0.01% <-Median-> 10 Change
Difference Diluted/Basic -0.2% -0.1% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 1.4% -2.7% -1.6% -0.7% -0.5% -0.2% -0.04% <-Median-> 10 Difference Diluted/Basic
Basic # of Shares in Millions 755.9 756.9 818.7 866.3 1,102.5 1,228.8 1,228.8 1,228.9 2,045.1 1,951.3 1,895.5 1,850.2 1,809.9 1,867.5 1,867.5 1,867.5 121.07% <-Total Growth 10 Average
Change 0.04% 0.13% 8.16% 5.81% 27.27% 11.46% 0.00% 0.01% 66.42% -4.59% -2.86% -2.39% -2.18% 3.18% 0.00% 0.00% 0.00% <-Median-> 10 Change
Difference Basic/Outstanding 0.0% 0.0% 1.8% -3.8% 11.5% 0.0% 0.0% 0.0% -2.1% -2.2% -1.2% -1.4% 4.1% -1.0% -1.0% -1.0% -0.62% <-Median-> 10 Difference Basic/Outstanding
$0 <-12 mths -100.00%
Reason Aq. Husky
pre-split 2005
# of Share in Millions 756.0 757.1 833.3 833.3 1,228.8 1,228.8 1,228.8 1,228.9 2,001.2 1,909.2 1,871.9 1,825.0 1,883.4 1,849.5 1,849.5 1,849.5 8.50% <-IRR #YR-> 10 Shares 126.02%
Change 0.03% 0.14% 10.06% 0.00% 47.46% 0.00% 0.00% 0.00% 62.85% -4.60% -1.95% -2.50% 3.20% -1.80% 0.00% 0.00% 8.91% <-IRR #YR-> 5 Shares 53.26%
CF fr Op $M US$ pre 09 US$
CF fr Op $M US$ $3,327 $3,039 $1,064 $641 $2,438 $1,579 $2,529 $214 $4,669 $8,419 $5,586 $6,418 $6,003 $12,131 $11,866 $11,704 463.97% <-Total Growth 10 Cash Flow US$
Increase -3.02% -8.66% -64.98% -39.76% 280.26% -35.25% 60.19% -91.52% 2077.37% 80.33% -33.65% 14.90% -6.46% 102.08% -2.19% -1.37% SO, S. Issue Buy Back Acquisition US$
5 year Running Average $3,092 $3,121 $2,813 $2,301 $2,102 $1,752 $1,650 $1,480 $2,286 $3,482 $4,284 $5,061 $6,219 $7,712 $8,401 $9,625 121.05% <-Total Growth 10 CF 5 Yr Running US$
CFPS $4.40 $4.01 $1.28 $0.77 $1.98 $1.28 $2.06 $0.17 $2.33 $4.41 $2.98 $3.52 $3.19 $6.56 $6.42 $6.33 149.52% <-Total Growth 10 Cash Flow per Share US$
Increase -3.04% -8.78% -68.18% -39.76% 157.87% -35.25% 60.18% -91.52% 1237.04% 89.02% -32.33% 17.85% -9.36% 105.79% -2.19% -1.37% 18.88% <-IRR #YR-> 10 Cash Flow 121.05% US$
5 year Running Average $4.10 $4.13 $3.70 $3.00 $2.49 $1.87 $1.47 $1.25 $1.57 $2.05 $2.39 $2.68 $3.29 $4.13 $4.53 $5.20 94.73% <-IRR #YR-> 5 Cash Flow 320.08% US$
P/CF on Med Price 7.04 6.11 12.79 16.92 5.57 7.05 4.36 34.70 4.15 4.23 6.09 5.22 4.56 3.79 0.00 0.00 9.57% <-IRR #YR-> 10 Cash Flow per Share -11.13% US$
P/CF on Closing Price 6.51 5.14 9.66 19.66 4.60 5.47 4.93 34.62 5.26 4.40 5.58 4.31 5.31 5.02 5.13 5.21 78.79% <-IRR #YR-> 2 Cash Flow per Share 161.99% US$
-6.88% Diff M/C -1.17% <-IRR #YR-> 10 CFPS 5 yr Running -45.05% US$
$3,644 <-12 mths -42.83%
Non-Cash pre 09 US$
Excl.Working Capital CF $65.8 -$40.5 $156.7 $418.6 -$115.6 -$351.9 $338.0 -$99.0 $940.2 -$361.8 $957.2 -$863.9 $370.6 $0.0 $0.0 $0.0 21.24% <-IRR #YR-> 5 CFPS 5 yr Running -84.67% US$
CF fr Op $M WC $3,393.2 $2,998.9 $1,221.2 $1,059.8 $2,322.8 $1,227.1 $2,867.3 $115.5 $5,608.9 $8,057.4 $6,543.2 $5,554.2 $6,373.9 $12,131.4 $11,866.2 $11,704.2 122.02% <-Total Growth 10 Cash Flow less WC US$
Increase -7.15% -11.62% -59.28% -13.21% 119.18% -47.17% 133.66% -95.97% 4758.02% 43.65% -18.79% -15.11% 14.76% 90.33% -2.19% -1.37% 17.97% <-IRR #YR-> 10 Cash Flow less WC 122.02% US$
5 year Running Average $3,077 $3,135 $2,895 $2,466 $2,199 $1,766 $1,740 $1,518 $2,428 $3,575 $4,638 $5,176 $6,428 $7,732 $8,494 $9,526 123.05% <-IRR #YR-> 5 Cash Flow less WC 323.28% US$
CFPS Excl. WC US$ $4.49 $3.96 $1.47 $1.27 $1.89 $1.00 $2.33 $0.09 $2.80 $4.22 $3.50 $3.04 $3.38 $6.56 $6.42 $6.33 8.30% <-IRR #YR-> 10 CF less WC 5 Yr Run 117.78% US$
Increase -7.18% -11.74% -63.00% -13.21% 48.63% -47.17% 133.66% -95.97% 2883.13% 50.58% -17.17% -12.94% 11.20% 93.82% -2.19% -1.37% 33.45% <-IRR #YR-> 5 CF less WC 5 Yr Run 111.67% US$
5 year Running Average $4.08 $4.15 $3.80 $3.20 $2.62 $1.92 $1.59 $1.32 $1.62 $2.09 $2.59 $2.73 $3.39 $4.14 $4.58 $5.15 8.73% <-IRR #YR-> 10 CFPS - Less WC -10.86% US$
P/CF on Med Price 6.90 6.19 11.15 10.24 5.85 9.07 3.84 64.45 3.45 4.42 5.20 6.03 4.30 3.79 0.00 0.00 104.79% <-IRR #YR-> 5 CFPS - Less WC 157.23% US$
P/CF on Closing Price 6.38 5.21 8.42 11.90 3.49 3.67 4.35 64.29 4.38 4.60 4.76 4.98 5.00 5.02 5.13 5.21 -1.14% <-IRR #YR-> 10 CFPS 5 yr Running -40.62% US$
CF/-WC P/CF Med 10 yr 5.39 5 yr  4.56 P/CF Med 10 yr 5.52 5 yr  4.42 -9.08% Diff M/C 20.80% <-IRR #YR-> 5 CFPS 5 yr Running -92.22% US$
$12,356 <-12 mths 50.17%
CF fr Op $M CDN$ pre 09
CF fr Op $M CDN$ $3,539 $3,526 $1,474 $861 $3,059 $2,154 $3,285 $273 $5,919 $11,403 $7,388 $9,235 $8,228 $17,171 $16,795 $16,566 458.21% <-Total Growth 10 Cash Flow CDN$
Increase 3.48% -0.37% -58.20% -41.59% 255.28% -29.58% 52.51% -91.69% 2068.13% 92.65% -35.21% 25.00% -10.90% 108.69% -2.19% -1.37% SO, S. Issue Buy Back CDN$
5 year Running Average $3,173 $3,270 $3,046 $2,564 $2,492 $2,215 $2,167 $1,926 $2,938 $4,607 $5,654 $6,844 $8,435 $10,685 $11,763 $13,599 176.87% <-Total Growth 10 CF 5 Yr Running CDN$
CFPS $4.68 $4.66 $1.77 $1.03 $2.49 $1.75 $2.67 $0.22 $2.96 $5.97 $3.95 $5.06 $4.37 $9.28 $9.08 $8.96 146.97% <-Total Growth 10 Cash Flow per Share CDN$
Increase 3.45% -0.51% -62.02% -41.59% 140.93% -29.58% 52.50% -91.69% 1231.37% 101.94% -33.92% 28.21% -13.67% 112.51% -2.19% -1.37% 18.76% <-IRR #YR-> 10 Cash Flow 458.21% CDN$
5 year Running Average $4.21 $4.33 $4.00 $3.33 $2.93 $2.34 $1.94 $1.63 $2.02 $2.72 $3.15 $3.63 $4.46 $5.73 $6.35 $7.35 97.62% <-IRR #YR-> 5 Cash Flow 2913.92% CDN$
P/CF on Med Price 6.67 5.79 11.73 17.99 5.92 6.67 4.50 35.67 4.03 3.95 6.29 4.93 4.70 3.73 0.00 0.00 9.46% <-IRR #YR-> 10 Cash Flow per Share 146.97% CDN$
P/CF on Closing Price 6.49 5.15 9.89 19.65 4.61 5.48 4.94 34.89 5.24 4.40 6.79 4.31 5.32 5.03 5.14 5.21 81.44% <-IRR #YR-> 5 Cash Flow per Share 1866.50% CDN$
-7.35% Diff M/C 1.11% <-IRR #YR-> 5 CFPS 5 yr Running 11.64% CDN$
$5,158 <-12 mths 915.35%
Excl.Working Capital CF pre 09
Excl.Working Capital CF $70.0 -$47.0 $217.0 $562.0 -$145.0 -$480.0 $439.0 -$126.0 $1,192.0 -$490.0 $1,266.0 -$1,243.0 $508.0 $0.0 $0.0 $0.0 22.24% <-IRR #YR-> 5 CFPS 5 yr Running 172.99% CDN$
CF fr Op $M WC $3,609 $3,479 $1,691 $1,423 $2,914 $1,674 $3,724 $147 $7,111 $10,913 $8,654 $7,992 $8,736 $17,171 $16,795 $16,566 416.62% <-Total Growth 10 Cash Flow less WC CDN$
Increase -0.93% -3.60% -51.39% -15.85% 104.78% -42.55% 122.46% -96.05% 4737.41% 53.47% -20.70% -7.65% 9.31% 96.55% -2.19% -1.37% 17.85% <-IRR #YR-> 10 Cash Flow less WC 134.10% CDN$
5 year Running Average $3,158 $3,284 $3,140 $2,769 $2,623 $2,236 $2,285 $1,976 $3,114 $4,714 $6,110 $6,963 $8,681 $10,693 $11,870 $13,452 126.36% <-IRR #YR-> 5 Cash Flow less WC 503.17% CDN$
CFPS Excl. WC $4.77 $4.60 $2.03 $1.71 $2.37 $1.36 $3.03 $0.12 $3.55 $5.72 $4.62 $4.38 $4.64 $9.28 $9.08 $8.96 10.71% <-IRR #YR-> 10 CF less WC 5 Yr Run 176.51% CDN$
Increase -0.96% -3.74% -55.84% -15.85% 38.87% -42.55% 122.45% -96.05% 2870.48% 60.86% -19.12% -5.28% 5.92% 100.15% -2.19% -1.37% 34.44% <-IRR #YR-> 5 CF less WC 5 Yr Run 339.24% CDN$
5 year Running Average $4.19 $4.35 $4.11 $3.59 $3.10 $2.41 $2.10 $1.72 $2.09 $2.76 $3.41 $3.68 $4.58 $5.73 $6.40 $7.27 8.62% <-IRR #YR-> 10 CFPS - Less WC 128.57% CDN$
P/CF on Med Price 6.54 5.87 10.23 10.89 6.21 8.58 3.97 66.25 3.35 4.13 5.37 5.70 4.42 3.73 0.00 0.00 107.83% <-IRR #YR-> 5 CFPS - Less WC 3777.56% CDN$
P/CF on Closing Price 6.37 5.22 8.62 11.89 4.84 7.05 4.36 64.79 4.36 4.60 5.80 4.98 5.01 5.03 5.14 5.21 1.08% <-IRR #YR-> 10 CFPS 5 yr Running 11.37% CDN$
*Operational Cash Flow per share CF/-WC P/CF Med 10 yr 5.43 5 yr  4.70 P/CF Med 10 yr 5.54 5 yr  4.42 -9.19% Diff M/C 21.67% <-IRR #YR-> 5 CFPS 5 yr Running 166.66% CDN$
-833.3 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 1,883.4 Shares
-1,228.9 0.0 0.0 0.0 0.0 1,883.4 Shares
-$1,064 $0 $0 $0 $0 $0 $0 $0 $0 $0 $6,003 Cash Flow US$
-$214 $0 $0 $0 $0 $6,003 Cash Flow US$
-$1.28 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.19 Cash Flow per Share US$
-$0.17 $0.00 $0.00 $0.00 $0.00 $3.19 Cash Flow per Share US$
-$3.70 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.29 CFPS 5 yr Running US$
-$1.25 $0.00 $0.00 $0.00 $0.00 $3.29 CFPS 5 yr Running US$
-$1,221 $0 $0 $0 $0 $0 $0 $0 $0 $0 $6,374 Cash Flow less WC US$
-$115 $0 $0 $0 $0 $6,374 Cash Flow less WC US$
-$2,895 $0 $0 $0 $0 $0 $0 $0 $0 $0 $6,428 CF less WC 5 Yr Run US$
-$1,518 $0 $0 $0 $0 $6,428 CF less WC 5 Yr Run US$
-$1.47 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.38 CFPS - Less WC US$
-$0.09 $0.00 $0.00 $0.00 $0.00 $3.38 CFPS - Less WC US$
-$3.80 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $3.39 CFPS 5 yr Running US$
-$1.32 $0.00 $0.00 $0.00 $0.00 $3.39 CFPS 5 yr Running US$
-$8.42 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $5.00 CFPS 5 yr Running US$
-$64.29 $0.00 $0.00 $0.00 $0.00 $5.00 CFPS 5 yr Running US$
-$1,474 $0 $0 $0 $0 $0 $0 $0 $0 $0 $8,228 Cash Flow CDN$
-$273 $0 $0 $0 $0 $8,228 Cash Flow CDN$
-$1.77 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $4.37 Cash Flow per Share CDN$
OPM 18.97% 17.95% 11.28% 7.10% 17.95% 10.33% 16.28% 2.06% 12.77% 17.05% 14.15% 17.01% 16.56% 27.04% 46.74% <-Total Growth 10 OPM CDN$
Increase -6.59% -5.36% -37.15% -37.11% 152.95% -42.43% 57.52% -87.32% 518.63% 33.50% -16.97% 20.23% -2.69% 63.31% Should increase  or be stable. CDN$
Diff from Median 24.7% 18.0% -25.8% -53.4% 18.0% -32.1% 7.0% -86.4% -16.1% 12.0% -7.0% 11.8% 8.8% 77.7% 0.00 <-Median-> 10 OPM CDN$
*Operational Profit Margin (CF/Revenue) Ratio OPM 10 Yrs 15.21% 5 Yrs 16.56% should be  zero, it is a   check on calculations CDN$
$8,613 <-12 mths -11.72%
Adjusted EBITDA CDN$ $4,036 $3,971 $2,804 $1,409 $3,236 $1,411 $4,143 $606 $8,086 $13,227 $10,201 $9,757 $9,632 $20,392 $18,062 $15,759 243.51% <-Total Growth 10 Adjusted EBITDA CDN$
Change -1.27% -1.61% -29.39% -49.75% 129.67% -56.40% 193.62% -85.37% 1234.32% 63.58% -22.88% -4.35% -1.28% 111.71% -11.43% -12.75% -2.82% <-Median-> 10 Change CDN$
Margin 23.96% 21.28% 14.28% 10.79% 26.67% 8.28% 19.88% 3.00% 61.13% 28.53% 15.25% 18.69% 17.75% 41.03% 28.44% 26.84% 18.22% <-Median-> 10 Margin CDN$
Per Share Basic $5.34 $5.25 $3.42 $1.63 $2.94 $1.15 $3.37 $0.49 $3.95 $6.78 $5.38 $5.27 $5.32 $10.92 $9.67 $8.44 55.38% <-Total Growth 10 Per Share Basic
Leverage with EBITDA (D/EBITDA) 3.79 3.65 4.78 9.70 6.47 12.55 3.99 26.51 3.77 2.14 2.47 2.74 3.30 1.52 0.00 0.00 3.88 <-Median-> 10 Leverage with EBITDA
$3,713 <-12 mths -24.56%
EBIT -$2,113 $3,524 $10,352 $5,622 $4,922 $4,586 $14,504 $11,948 $9,268 <-Total Growth 5 EBIT
Change 266.78% 193.76% -45.69% -12.45% -6.83% 216.27% -17.62% -22.43% -6.83% <-Median-> 5 Change
Margin -10.47% 26.64% 22.33% 8.40% 9.43% 8.45% 29.19% 18.81% 15.79% 8.94% <-Median-> 6 Margin
Long Term Debt CDN$ $5,458 $6,525 $6,332 $9,513 $8,482 $6,699 $7,441 $12,385 $8,691 $6,210 $7,342 $11,032 $8,558 Debt CDN$
Change 19.55% -2.96% 50.24% -10.84% -21.02% 11.08% 66.44% -29.83% -28.55% 18.23% 50.26% -22.43% 4.06% <-Median-> 10 Change CDN$
Ratio to Market Cap 0.30 0.45 0.37 0.67 0.72 0.41 0.78 0.40 0.17 0.12 0.18 0.25 0.10 0.39 <-Median-> 10 % of Market C. CDN$
Assets/Current Liabilities Ratio 8.35 13.88 9.46 9.23 13.53 14.17 13.89 7.41 6.97 8.68 7.68 10.04 8.85 9.34 <-Median-> 10 Assets/Current Liab Ratio CDN$
Debt to Cash Flow (Years) 1.55 4.43 7.35 3.11 3.94 2.04 27.26 2.09 0.76 0.84 0.80 1.34 0.50 2.07 <-Median-> 10 Debt to Cash Flow (Years) CDN$
Intangibles CDN$ $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 #DIV/0! <-Total Growth 10 Intangibles CDN$
Goodwill $739 $242 $242 $242 $2,272 $2,272 $2,272 $2,272 $3,473 $2,923 $2,923 $2,923 $2,912 $2,923 1103.31% <-Total Growth 10 Goodwill CDN$
Total $739 $242 $242 $242 $2,272 $2,272 $2,272 $2,272 $3,473 $2,923 $2,923 $2,923 $2,912 $2,984 1103.31% <-Total Growth 10 Total CDN$
Change 0.00% -67.25% 0.00% 0.00% 838.84% 0.00% 0.00% 0.00% 52.86% -15.84% 0.00% 0.00% -0.38% 2.47% 0.00% <-Median-> 10 Change CDN$
Ratio to Market Cap 0.03 0.01 0.02 0.01 0.16 0.19 0.14 0.24 0.11 0.06 0.06 0.07 0.07 0.03 0.09 <-Median-> 10 % of Market C. CDN$
Current Assets US$ $5,275 $3,616 $4,675 $5,081 $3,992 $2,342 $2,528 $2,337 $9,456 $9,177 $7,340 $7,251 $7,216 $8,461 54.37% <-Total Growth 10 Current Assets US$
Current Liabilities US$ $3,553 $2,549 $1,342 $1,989 $3,536 $1,906 $1,941 $1,853 $5,762 $5,922 $4,695 $5,116 $4,607 $5,196 243.33% <-Total Growth 10 Current Liabilities US$
Liquidity 1.48 1.42 3.48 2.55 1.13 1.23 1.30 1.26 1.64 1.55 1.56 1.42 1.57 1.63 1.48 <-Median-> 10 Ratio US$
Assets US$ $23,716 $21,287 $18,625 $18,811 $32,629 $25,784 $27,497 $25,738 $42,676 $41,250 $40,764 $39,293 $46,275 $46,007 148.45% <-Total Growth 10 Assets US$
Liabilities US$ $14,364 $12,507 $9,677 $10,179 $16,701 $12,979 $12,713 $12,616 $24,054 $20,880 $19,056 $18,604 $23,191 $21,834 139.66% <-Total Growth 10 Liabilities US$
Liquidity 1.65 1.70 1.92 1.85 1.95 1.99 2.16 2.04 1.77 1.98 2.14 2.11 2.00 2.11 1.99 <-Median-> 10 Ratio US$
Book Value US$ $9,351 $8,780 $8,948 $8,632 $15,927 $12,805 $14,784 $13,122 $18,621 $20,370 $21,709 $20,689 $23,083 $24,173
NCI $0 $0 $0 $0 $0 $0 $0 $0 $9 $10 $11 $10 $12 11.30
Book Value US$ $9,351 $8,780 $8,948 $8,632 $15,927 $12,805 $14,784 $13,122 $18,612 $20,360 $21,698 $20,678 $23,072 $24,161
Book Value US$ check. $9,351 $8,780 $8,948 $8,632 $15,927 $12,805 $14,784 $13,122 $18,612 $20,360 $21,698 $20,678 $23,072 $24,161 US$
Current Assets CDN$ $5,610 $4,195 $6,473 $6,822 $5,008 $3,195 $3,284 $2,976 $11,988 $12,430 $9,708 $10,434 $9,890 $11,976 52.79% <-Total Growth 10 Current Assets CDN$
Current Liabilities CDN$ $3,779 $2,957 $1,858 $2,671 $4,436 $2,600 $2,521 $2,359 $7,305 $8,021 $6,210 $7,362 $6,314 $7,354 239.83% <-Total Growth 10 Current Liabilities CDN$
Liquidity 1.48 1.42 3.48 2.55 1.13 1.23 1.30 1.26 1.64 1.55 1.56 1.42 1.57 1.63 1.48 <-Median-> 10 Ratio CDN$
Liq. with CF aft div 2.23 2.34 3.89 2.81 1.76 1.96 2.50 1.34 2.43 2.89 2.59 2.50 2.64 3.75 2.59 <-Median-> 5 Ratio CDN$
Liq. CF re  Inv+Div  1.59 1.54 3.89 2.00 0.45 1.59 1.60 0.98 2.15 2.24 1.40 1.48 1.19 3.75 1.48 <-Median-> 5 Ratio CDN$
Assets CDN$ $25,224 $24,695 $25,791 $25,258 $40,933 $35,174 $35,713 $32,770 $54,104 $55,869 $53,915 $56,539 $63,424 $65,118 145.92% <-Total Growth 10 Assets
Liabilities CDN$ $15,278 $14,509 $13,400 $13,668 $20,952 $17,706 $16,512 $16,063 $30,496 $28,280 $25,203 $26,770 $31,786 $30,904 137.21% <-Total Growth 10 Liabilities CDN$
Asset/Liability 1.65 1.70 1.92 1.85 1.95 1.99 2.16 2.04 1.77 1.98 2.14 2.11 2.00 2.11 1.99 <-Median-> 10 Ratio CDN$
Estimates BVPS $20.76 $23.12 $24.77 Estimates Estimates BVPS
Estimate Book Value $38,395.8 $42,760.7 $45,812.4 Estimates Estimate Book Value
P/B Ratio (Close) 2.25 2.02 1.88 Estimates P/B Ratio (Close)
Difference from 10 year median 101.37% Diff M/C Estimates Difference from 10 yr med.
Book Value CDN$ $9,946 $10,186 $12,391 $11,590 $19,981 $17,468 $19,201 $16,707 $23,608 $27,589 $28,712 $29,769 $31,638 $34,214 155.33% <-Total Growth 10 Book Value CDN$
NCI $0 $0 $0 $0 $0 $0 $0 $0 $12 $13 $14 $15 $16 $16 NCI
Book Value CDN$ $9,946 $10,186 $12,391 $11,590 $19,981 $17,468 $19,201 $16,707 $23,596 $27,576 $28,698 $29,754 $31,622 $34,198 $34,198 $34,198 155.20% <-Total Growth 10 Book Value CDN$
BV per share $13.16 $13.45 $14.87 $13.91 $16.26 $14.22 $15.63 $13.60 $11.79 $14.44 $15.33 $16.30 $16.79 $18.49 $18.49 $18.49 12.91% <-Total Growth 10 Book Value per Share CDN$
Change 1.40% 2.27% 10.53% -6.46% 16.91% -12.58% 9.92% -12.99% -13.27% 22.50% 6.14% 6.34% 2.98% 10.13% 0.00% 0.00% 126.08% P/B Ratio Current/10 Year Median CDN$
P/B Ratio (Median) 2.37 2.01 1.40 1.34 0.91 0.82 0.77 0.58 1.01 1.63 1.62 1.53 1.22 1.87 0.00 0.00 1.54 P/B Ratio Historical Median CDN$
P/B Ratio (Close) 2.31 1.78 1.18 1.46 0.71 0.68 0.84 0.57 1.32 1.82 1.75 1.34 1.38 2.52 2.52 2.52 1.22% <-IRR #YR-> 10 Book Value per Share CDN$
Change -9.94% -22.90% -33.94% 24.02% -51.63% -4.35% 25.09% -32.52% 130.76% 38.26% -3.89% -23.54% 3.47% 82.51% 0.00% 0.00% 4.31% <-IRR #YR-> 5 Book Value per Share CDN$
Leverage (A/BK) 2.54 2.42 2.08 2.18 2.05 2.01 1.86 1.96 2.29 2.03 1.88 1.90 2.01 1.90 0.00 0.00 2.01 <-Median-> 10 A/BV CDN$
Debt/Equity Ratio 1.54 1.42 1.08 1.18 1.05 1.01 0.86 0.96 1.29 1.03 0.88 0.90 1.01 0.90 0.00 0.00 1.01 <-Median-> 10 Debt/Eq Ratio CDN$
Sharerholders Equity (Assets less liabilities) P/BV 10 yr Med 1.12 5 yr Med 1.53 126.08% Diff M/C 2.14 Historical Leverage (A/BK) CDN$
$5,937 <-12 mths 194.20%
Comprehensive Income CDN$ $803 $941 $1,231 -$655 $3,099 -$2,274 $1,983 -$2,431 $496 $7,236 $3,847 $4,247 $2,018 63.93% <-Total Growth 10 Comprehensive Income CDN$
Increase -17.13% 17.19% 30.82% -153.21% 573.13% -173.38% 187.20% -222.59% 120.40% 1358.87% -46.84% 10.40% -52.48% 10.40% <-Median-> 5 Comprehensive Income CDN$
5 Yr Running Average $972 $1,044 $1,094 $658 $1,084 $468 $677 -$56 $175 $1,002 $2,226 $2,679 $3,569 5.07% <-IRR #YR-> 10 Comprehensive Income 63.93% CDN$
ROE 8.1% 9.2% 9.9% -5.7% 15.5% -13.0% 10.3% -14.6% 2.1% 26.2% 13.4% 14.3% 6.4% #NUM! <-IRR #YR-> 5 Comprehensive Income 183.01% CDN$
5Yr Median 9.8% 9.8% 9.9% 9.2% 9.2% 9.2% 9.9% -5.7% 2.1% 2.1% 10.3% 13.4% 13.4% 12.55% <-IRR #YR-> 10 5 Yr Running Average 1943.99% CDN$
% Difference from NI 21.3% 26.5% 99.2% 20.2% -7.9% -14.8% -9.6% 2.2% -15.5% 12.2% -6.4% 35.2% -48.7% #NUM! <-IRR #YR-> 5 5 Yr Running Average 1943.99% CDN$
Median Values Diff 5, 10 yr -7.2% -6.4% 13.4% <-Median-> 5 Return on Equity CDN$
Current Liability Coverage Ratio 0.96 1.18 0.91 0.53 0.66 0.64 1.48 0.06 0.97 1.36 1.39 1.09 1.38 2.33   CFO / Current Liabilities CDN$
5 year Median 0.97 0.97 0.97 0.96 0.91 0.66 0.66 0.64 0.66 0.97 1.36 1.09 1.36 1.38 1.36 <-Median-> 5 Current Liability Cov Ratio CDN$
Asset Efficiency Ratio 14.31% 14.09% 6.56% 5.63% 7.12% 4.76% 10.43% 0.45% 13.14% 19.53% 16.05% 14.14% 13.77% 26.37% CFO / Total Assets CDN$
5 year Median 14.31% 14.31% 14.31% 14.09% 7.12% 6.56% 6.56% 5.63% 7.12% 10.43% 13.14% 14.14% 14.14% 16.05% 14.1% <-Median-> 5 Return on Assets  CDN$
Return on Assets ROA 2.47% 2.60% 1.73% -1.61% 6.55% -5.56% 4.73% -5.70% 0.86% 8.52% 5.76% 3.86% 4.52% 10.83% Net  Income/Assets Return on Assets CDN$
5Yr Median 4.11% 4.11% 2.60% 2.47% 2.47% 1.73% 1.73% -1.61% 0.86% 0.86% 4.73% 3.86% 4.52% 5.76% 4.5% <-Median-> 5 Asset Efficiency Ratio CDN$
Return on Equity ROE 6.66% 7.30% 4.99% -4.70% 16.85% -15.28% 11.43% -14.24% 2.49% 23.39% 14.32% 10.56% 12.43% 29.18% Net Inc/ Shareholders' equity Return on Equity CDN$
5Yr Median 9.91% 9.91% 7.30% 6.66% 6.66% 4.99% 4.99% -4.70% 2.49% 2.49% 11.43% 10.56% 12.43% 14.32% 12.4% <-Median-> 5 Return on Equity CDN$
$6,660 <-12 mths 69.47%
Net Income CDN$ $662 $744 $618 -$545 $3,366 -$2,669 $2,194 -$2,379 $587 $6,450 $4,109 $3,142 $3,930 $9,978 $8,720 $6,834 535.92% <-Total Growth 10 Net Income CDN$
Increase -33.33% 12.39% -16.94% -188.19% 717.61% -179.29% 182.20% -208.43% 124.67% 998.81% -36.29% -23.53% 25.08% 153.89% -12.61% -21.63% EPS/CF Ratio should not be higher than 1.00 CDN$
5 Yr Running Average $989 $974 $899 $494 $969 $303 $593 -$7 $220 $837 $2,192 $2,382 $3,644 $5,522 $5,976 $6,521 20.32% <-IRR #YR-> 10 Net Income 535.92% CDN$
Operating Cash Flow $3,539 $3,526 $1,474 $861 $3,059 $2,154 $3,285 $273 $5,919 $11,403 $7,388 $9,235 $8,228 #NUM! <-IRR #YR-> 5 Net Income 265.20% CDN$
Investment Cash Flow -1,519 -1,519 888 -1,079 -12,866 -613 -1,432 -863 -942 -2,314 -5,295 -5,126 -7,677 15.02% <-IRR #YR-> 10 5 Yr Running Average 305.29% CDN$
Total Accruals -$1,358 -$1,263 -$1,744 -$327 $13,173 -$4,210 $341 -$1,789 -$4,390 -$2,639 $2,016 -$967 $3,379 #NUM! <-IRR #YR-> 5 5 Yr Running Average 55306.06% CDN$
Total Assets $25,224 $24,695 $25,791 $25,258 $40,933 $35,174 $35,713 $32,770 $54,104 $55,869 $53,915 $56,539 $63,424 Balance Sheet Assets CDN$
Accruals Ratio -5.38% -5.11% -6.76% -1.29% 32.18% -11.97% 0.95% -5.46% -8.11% -4.72% 3.74% -1.71% 5.33% -1.71% <-Median-> 5 Ratio CDN$
EPS/CF Ratio 0.18 0.21 0.37 -0.38 1.29 -1.59 0.59 -16.22 0.08 0.56 0.46 0.38 0.46 0.42 <-Median-> 10 EPS/CF Ratio CDN$
Chge In Close CDN$ -8.68% -21.15% -26.99% 16.00% -43.45% -16.38% 37.50% -41.29% 100.13% 69.37% 2.02% -18.69% 6.56% 100.99% 0.00% 0.00% Count 31 Years of data CDN$
Accruals Ratio Is? up up up down up up up down Count 18 58.06% CDN$
Predictive? Yes Yes Yes Yes Yes % right Count 7 38.89% CDN$
Financial Cash Flow CDN$ -$726 -$797 $894 -$218 $6,515 -$1,410 -$2,413 -$590 -$2,507 -$7,676 -$4,313 -$3,505 -$749 C F Statement  Financial Cash Flow CDN$
Total Accruals -$632 -$466 -$2,638 -$109 $6,658 -$2,800 $2,754 -$1,199 -$1,883 $5,037 $6,329 $2,538 $4,128 Accruals CDN$
Accruals Ratio -2.51% -1.89% -10.23% -0.43% 16.27% -7.96% 7.71% -3.66% -3.48% 9.02% 11.74% 4.49% 6.51% Ratio CDN$
Count 31 Years of data
Accruals Ratio Is? up down up down Count 11 35.48% CDN$
Predictive? Yes Yes Yes % right Count 5 45.45% CDN$
$4,705 <-12 mths 64.10%
Net Income US$ $622 $641 $446 -$406 $2,683 -$1,956 $1,689 -$1,869 $463 $4,762 $3,107 $2,184 $2,867 $7,050 $6,161 $4,828 542.48% <-Total Growth 10 Net Income US$
Increase -37.52% 3.04% -30.41% -190.95% 761.04% -172.92% 186.34% -210.61% 124.78% 928.55% -34.76% -29.71% 31.31% 145.86% -12.61% -21.63% EPS/CF Ratio should not be higher than 1.00 US$
5 Yr Running Average $968 $941 $831 $460 $797 $282 $491 $28 $202 $618 $1,631 $1,729 $2,677 $3,994 $4,274 $4,618 20.44% <-IRR #YR-> 10 Net Income 542.48% US$
Operating Cash Flow $3,327 $3,039 $1,064 $641 $2,438 $1,579 $2,529 $214 $4,669 $8,419 $5,586 $6,418 $6,003 #NUM! <-IRR #YR-> 5 Net Income 253.46% US$
Investment Cash Flow -$1,428 -$1,309 $641 -$804 -$10,256 -$449 -$1,103 -$678 -$743 -$1,709 -$4,003 -$3,562 -$5,601 12.41% <-IRR #YR-> 10 5 Yr Running Average 222.22% US$
Total Accruals -$1,277 -$1,089 -$1,259 -$244 $10,501 -$3,086 $263 -$1,405 -$3,463 -$1,948 $1,524 -$672 $2,465 148.40% <-IRR #YR-> 5 5 Yr Running Average 9356.91% US$
Total Assets $23,716 $21,287 $18,625 $18,811 $32,629 $25,784 $27,497 $25,738 $42,676 $41,250 $40,764 $39,293 $46,275 Balance Sheet Assets US$
Accruals Ratio -5.38% -5.11% -6.76% -1.29% 32.18% -11.97% 0.95% -5.46% -8.11% -4.72% 3.74% -1.71% 5.33% -1.71% <-Median-> 5 Ratio US$
Financial Cash. Flow. US$ -$683 -$687 $646 -$162 $5,193 -$1,034 -$1,858 -$463 -$1,977 -$5,667 -$3,261 -$2,436 -$546 C F Statement  Financial Cash Flow US$
Total Accruals -$594 -$402 -$1,905 -$81 $5,307 -$2,052 $2,120 -$942 -$1,485 $3,719 $4,785 $1,764 $3,012 Accruals US$
Accruals Ratio -2.51% -1.89% -10.23% -0.43% 16.27% -7.96% 7.71% -3.66% -3.48% 9.02% 11.74% 4.49% 6.51% Ratio US$
Cash CDN$ $2,452 $883 $4,105 $3,720 $610 $781 $186 $378 $2,873 $4,524 $2,227 $3,093 $2,740 $3,170 Cash CDN$
Cash Per Share $3.24 $1.17 $4.93 $4.46 $0.50 $0.64 $0.15 $0.31 $1.44 $2.37 $1.19 $1.69 $1.45 $1.71 $1.45 <-Median-> 5 Cash per Share CDN$
Percentage of Stock Price 10.67% 4.87% 28.15% 21.99% 4.32% 6.62% 1.15% 3.97% 9.26% 9.02% 4.44% 7.78% 6.27% 3.67% 7.78% <-Median-> 5 % of Stock Price CDN$
Notes
October 18, 2026.  Last estimates were for 2025, 2026, 2027 in CDN$ of $53318M, $49417M, $65571M Revenue, $4.73, $4.96 2025/6 AFFO, $3.14 2025 FFO, $1.91, $1.68, $2.22 EPS, 
$0.79, $0.84, $0.89 Dividends, $4.29, $4.52, $5.54 CFPS, $11371M, $11704M 2025/6 EBITDA, $4370, $4673M, $5156M EBIT, $17.05, $17.17, $17.68 BVPS, $3209M, $3200M, $3602M Net Income.
October 25, 2025.  Last estimates were for 2024, 2025 and 2026 in CDN$ of $58050M, $55828M, $54744MM  Revenue, $4.91, $5.57 2024/5 AFFO, $2.35, $3.14 2024/5 FFO, 
$2.22, $2.35, $2.85 EPS, $0..76, $0.76, $0.83 Dividends, $4449M, $4258M, $5430M FCF, $3.49, $3.80, $4.05 CFPS, $10905M, $11371M, $11704M EBITDA, $16.44, $16.94, $17.52 BVPS, $4213M, $4185M, $4342M Net Income.
October 24, 2024.  Last estimates were for 2023, 2024, 2025 of $56371M, $62025M, $55348M for Revenue, $4.45, $5.65 2023/4 AFFO, $2.43, $3.07, $2.89 EPS, 
$0.54, $0.60, $0.73 for Div, $9348M, $6,835M, $6835M FCF, $4.90, $6.06, $6.21 CFPS, $11180M, $12465M, $12489M, Adj EBITDA, $15.40, $16.90, $18.10 BVPS, $4677M, $5714M, $5072M Net Income.
October 27, 2023.  Last estimates were for 68538M, $70604M and $57638M for Revenue, $4.10, $4.34 and $3.54 for EPS, $0.35, $0.49 and $0.53 for Dividends, 
$9477M, $9348M and $6835M for FCFm $6.26, $6.96 and $6.61 for CFPS, $7919M, $7164M and $5775M for Net Income.
October 28, 2022.  Last estimates were for in CDN$ for 2021, 2022 and 2023 for $41316M, $15374M and $15374M for Revenue, $1.13, $2.00 and $2.19 for EPS,
 $0.07, $0.08 and $0.11 for Dividends, $4735<, $5567M and $5095M for FCF, $3.72, $480 and $5.13 for CFPS, and $2227M, $3388M and $2625M for Net Income.
October 24, 2021.  Last estimates were for $13987M, $15457Mand $15374M CDN$ for Revenue, -$2.07, -$0.73, and -$0.66 CDN$ for EPS, 
$0.07, $0.1 and $0 CDN$ for Dividends, -$639M, $450M and $1964M CDN$ for FCF, $0.15, $1.24 and $2.10 CDN$ for CFPS, -$2107M, -$1008M and-$619M CDN$ for Net Income.
November 6, 2020.  Last estimates were for 2019, 2020 and 2021 $20596M, $18140M and $15974M CDN$ for Revenue, $2.04, $0.05 and $0.51 CDN$ for EPS, 
$0.16, $0.19 and $0.20 CDN$ for Dividends, $3.14, $2.80 and $2.67 CDN$ for CFPS and $2301M, $749M and $683M CDN$ for Net Income
November 9, 2019.  Last estimates were for 22124M, $22373M and $22730M CDN$ for Revenue, -$0.86, $0.99 and $1.17 CDN$ for EPS, 
$1.79, $2.88 and $3.23 CDN$ for CFPS and -$1334M, $1226M and $1308M CDN$ for Net Income.
November 10, 2018.  Last estimates were for $17506M, $17951M and $19717M CDN$ Revenue, $2.70, $0.24 and 0.62 CDN$ EPS, 
$2.60, $2.14 and $2.59 for CFPS CDN$, $35 and $512 Net Income CDN$ for 2017 and 2018.
November 16, 2017.  Last estimates were for 2016, 2017 and 2018 of $11958M, $14323M and $14.396M for Revenue, -$0.72, $0.04 and $0.59 for EPS, 
$1.51, $2.14 and $2.72 for CFPS, -$574M, $35M and $512M for Net Income.
November 13, 2016.  Last estimates were for 2015, 2016 and 2017 of $13219M, $13972M and $14999M for Revenue, $1.07, -$0.13 and $0.48 for EPS, 
$2.23, $2.21 and $2.94 for CFPS and $927M, -$37M and $415M for Net Income.
November 18, 2015.  Last estimates were for 2014, 2015 and 2016 of $20261M, $19639M and $19850M for Revenue, $1.93, $1.70 and $1.65 for EPS, 
$5.00, $4.61 and 4.91 for CFPS and $1482M, $1373M and $1352M for Net Income. 
November 8, 2014.  Last estimates were for 2013, 2014 and 2015 of $17917M, $16900M and $17290M CDN$, $1.70, $1.90 and $2.04 for EPS, $4.21, $4.32 and $4.64 for CFPS.
November 17, 2013.  Last estamtes were for 2012 and 2013 of $16961 and 16183M for Revewnue $$2.02 and $2.20 for EPS.
Nov 12, 2012.  The last estimates were for 2011 and 2012 of $14.290M and $14.948M CDN$. $1.80 and $2.25 EPS CDN$ amd $4.15 and $4.42 CDN$ CF.
Oct 2011.  Last I looked I got esitamtes for 2010 and 2011 of $1.35 and $1.65 for Earnings and $3.20 and $4.13 for Cash Flow.
Oct 2010 NOTE:  for changes in 2009, I did not adjust ROE lines to the end of the spreadsheet.  ROE is simply net income over book value so it is a relative value.  I was not looking for increase in net income
 over a period of time.  Also, note that Cenovus Engergy is reporting in CDNS and I used these reports.  I put the original ECA spreadsheet into Old_Research_portfolio file.
I was reading the split and the company looked at it as a 50/50 split, but the market not quite so simple.  However, I am dealing with the split as 50/50.
On November 30, 2009 stock worth $56.57.  On Dec 2nd, shares worth $56.43.  On Dec 3rd, worth 28.81.  Stock did not fall until Dec 3rd.
This company split into two companies in the later part of 2009. A a special resolution was approved on the Arrangement to divide the Corporation into two 
highly focused and independent, publicly traded companies - Encana Corporation and Cenovus Energy Inc.
Oct 10, 2010.  When I last looked at this company, I got 2009 and 2010 estimates of $3.80 and $3.00 for earnings and $10 and $9 for CF in US$.
May 13, 2008, since I last looked at this stock, the CDN US currency gap as narrowed.  This shows up in the dividend being lower in CDN$.
Apr 11 2009 AR 2008
AP 2007.  It has of course done very well as it is in Oil.  I have done well and will do so while oil is high.
AP 2006.  TD still rates this a buy.  I have done well with this stock, but lets face it, I only have 100 shares so it is not going to affect much.
AP 2005. TD Newcrest is still rating this a buy.  I have very little into resources.  Good to hold for now.
I think I can make money on this stock.  They can make a profit.
Called Alberta Energy Co. - to 2001
I do not know where I got 2001 figures from, all reports seem different from mine.
Split 2009 value of shares
bacically halfed all values and kept shares same value. This should make spreadsheet correct for past values.
Sector
Energy, Resources
What should this stock accomplish?
Personally, I buy resource stocks when they are low and sell when they are high.  Rsecource stocks always are boom and bust and it is always best to buy at bust times.
Would I buy this company and Why.
If I wanted to buy a resource stock, I would consider this one.  
Why I bought & sold this stock.
I do not own this stock of Cenovus Energy but I used to. I had held this stock previously as Alberta Energy Company from April 2000 until August 2002 and made some 18% total returns per year.    
Why am I following this stock. 
I had held this stock previously as Alberta Energy Company from April 2000 until August 2002.     
Why am I following this stock. 
This is another stock that was talked about at the 2010 Money Show in Toronto.  There were those who liked oil companies and they mentioned both Suncor Energy Inc. (TSX-SU) and Cenovus 
Energy Inc. (TSX-CVE).  This company was split off from EnCana (TSX-ECA) in 2009.   My spreadsheet reflects this split.  I was also following Alberta Energy Co. (TSX-AEC) into EnCana. 
Dividends
Third cycle dividends.  Dividends are paid near the end of the months of March, June, September and December. Dividends are declared for shareholders of record in one month and paid in that month.
For example dividends declared for shareholders of record of March 15, 2013 were paid on March 28, 2013.
How they make their money
Cenovus Energy Inc is a Canadian integrated energy group. he group's reportable segments are: Oil Sands, Conventional, Offshore, Canadian Refining, U.S Refining, 
and Corporate and Eliminations. Maximum revenue is generated from its Oil Sands segment. Geographically, the group derives maximum revenue from the U.S., 
followed by Canada and China.   
Alberta Energy Company Ltd. (AEC) and PanCanadian Energy Corporation (PanCanadian) companies merged to form EnCana in April 2002. EnCana split into EnCana and Cenovus (Nov 2009).
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.
On Nov 22 2013
Selling last 30 days
Officers - sale price
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 2018 Nov 11 2019 Nov 06 2020 Oct 24 2021 Oct 28 2022 Oct 28 2023 Oct 24 2024 Oct 25 2025 Oct 18 2026 Was CFO, in 2021 COO
McKenzie, Jonathan 0.00% 0.102 0.01% 0.129 0.01% 0.255 0.01% 0.433 0.02% 0.585 0.03% 0.937 0.05% 1.140 0.06% 0.000 0.00% CEO 2023 17.88%
CEO - Shares - Amount $0.000 $1.343 $1.003 $3.950 $11.371 $15.672 $20.418 $26.469 $0.000
Options - percentage 0.05% 1.139 0.09% 1.803 0.15% 2.550 0.13% 0.865 0.05% 1.184 0.06% 1.652 0.09% 2.732 0.15% 0.200 0.01% 60.26%
Options - amount $5.784 $15.031 $13.972 $39.546 $22.722 $31.728 $35.995 $63.437 $9.334
Sandhar, Karamjit Singh 0.079 0.00% 0.101 0.01% 0.138 0.01% 0.200 0.01% 0.000 0.00% 39.80%
CFO - Shares - Amount $2.082 $2.700 $3.014 $4.634 $0.000
Options - percentage 0.445 0.02% 0.423 0.02% 0.576 0.03% 0.927 0.05% 0.000 0.00% 55.80%
Options - amount $11.678 $11.329 $12.561 $21.521 $0.000
Lawson, Jeff 0.141 0.01% 0.172 0.01% 0.000 0.00% 18.22%
Officer- Shares - Amount $3.064 $3.983 $0.000
Options - percentage 0.170 0.01% 0.395 0.02% 0.000 0.00% 125.15%
Options - amount $3.701 $9.164 $0.000
Anderson-Olney, Susan Mary 0.010 0.00% 0.010 0.00% 0.011 0.00% 0.020 0.00% 0.000 0.00% 74.88%
Officer - Shares - Amount $0.256 $0.275 $0.246 $0.474 $0.000
Options - percentage 0.162 0.01% 0.175 0.01% 0.189 0.01% 0.342 0.02% 0.000 0.00% 75.90%
Options - amount $4.246 $4.699 $4.108 $7.947 $0.000
Ruste, Ivor Melvin ceased insider Apr 2018
CFO - Shares - Amount
Options - percentage
Options - amount
Chiasson, Keith 0.068 0.01% 0.099 0.00% 0.115 0.01% 0.129 0.01% 0.158 0.01%
Officer - Shares - Amount $0.524 $1.533 $3.027 $3.463 $3.454
Options - percentage 0.860 0.07% 1.191 0.06% 0.922 0.05% 0.948 0.05% 0.556 0.03%
Options - amount $6.665 $18.472 $24.215 $25.408 $12.110
Chhina, Harbir Singh 0.04% 0.533 0.04% 0.536 0.04% Filed last 2019
Officer - Shares - Amount $5.078 $7.031 $4.154 Ceased insider Jan 2021
Options - percentage 0.17% 2.243 0.18% 2.375 0.19%
Options - amount $19.799 $29.603 $18.404
not found 2018
Brannan, John
Officer - Shares - Amount
Options - percentage
Options - amount
Kvisle, Harold N. 0.132 0.01% 0.149 0.01% 0.149 0.01% 0.149 0.01% Ceased insider May 2024
Director - Shares - Amount $1.023 $2.311 $3.914 $3.993
Options - percentage 0.036 0.00% 0.059 0.00% 0.085 0.00% 0.099 0.01%
Options - amount $0.280 $0.913 $2.240 $2.645
Crothers, Michael John 0.003 0.00% 0.006 0.00% 0.000 0.00% 90.63%
Director - Shares - Amount $0.066 $0.139 $0.000
Options - percentage 0.013 0.00% 0.027 0.00% 0.200 0.01% 107.77%
Options - amount $0.278 $0.635 $9.334
Casey Keith Michael 0.018 0.00% 0.018 0.00% 0.018 0.00% 0.020 0.00% 0.000 0.00% 9.52%
Director - Shares - Amount $0.465 $0.474 $0.385 $0.464 $0.000
Options - percentage 1.202 0.06% 0.057 0.00% 0.070 0.00% 0.094 0.00% 0.200 0.01% 29.37%
Options - amount $31.587 $1.540 $1.531 $2.178 $9.334
Kinney, Jane E. 0.000 0.00%
Director - Shares - Amount $0.000
Options - percentage 0.200 0.01%
Options - amount $9.334
Cunningham, Ralph Sanford Ceased to be insider
Director - Shares - Amount on April 27, 2016
Options - percentage
Options - amount
Pourbaix, Alex 0.04% 0.629 0.05% 0.694 0.06% 0.786 0.04% 1.202 0.06% 1.278 0.07% 1.437 0.08% 1.445 0.08% 0.000 0.00% Used to be CEO, Chair 2023 -2.55%
Chairman - Shares - Amount $4.891 $8.309 $5.375 $12.191 $31.587 $34.249 $31.307 $33.549 $0.000
Options - percentage 0.18% 3.399 0.28% 5.269 0.43% 6.998 0.35% 3.849 0.20% 4.071 0.22% 2.485 0.14% 2.262 0.12% 0.360 0.02% -11.80%
Options - amount $20.805 $44.867 $40.837 $108.546 $101.100 $109.103 $54.146 $52.520 $16.801
MacPhail, Keith A. J. 0.346 0.03% 0.480 0.04% 0.616 0.03% 0.696 0.04% Appointed Chairman 2020
Chairman - Shares - Amt $4.567 $3.720 $9.554 $18.284 Ceased inside Apr 2023
Options - percentage 0.032 0.00% 0.056 0.00% 0.074 0.00% 0.106 0.01%
Options - amount $0.424 $0.434 $1.151 $2.787
Mongeau, Claude 0.339 0.02% 0.339 0.02% 0.347 0.02% 0.347 0.02% 0.000 0.00% -3.10%
Leader Independent Dir- Shares - Amt $8.919 $9.098 $7.565 $8.061 $0.000
Options - percentage 0.127 0.01% 0.135 0.01% 0.150 0.01% 0.182 0.01% 0.200 0.01% 17.58%
Options - amount $3.343 $3.606 $3.261 $4.216 $9.334
Grandin, Michael Anthony
Chairman - Shares - Amt
Options - percentage
Options - amount
Increase in O/S Shares 0.00% 0.000 0.00% 0.038 0.00% 0.042 0.00% 0.535 0.03% 11.069 0.58% 3.679 0.20% 5.049 0.28% 1.394 0.07% Yes 0 for 2015, 2018. 2019
due to SO $0.000 $0.000 $0.365 $0.326 $8.298 $290.783 $98.597 $110.018 $32.369
Book Value $0.000 $0.000 $0.000 $0.398 $7.000 $170.000 $58.000 $68.000 $20.000
Insider Buying -$1.798 -$4.943 -$3.007 -$4.827 -$7.573 -$6.138 -$11.372 -$5.715 $0.000
Insider Selling $0.014 $0.189 $0.000 $0.037 $127.381 $51.299 $92.225 $0.000 $0.000
Net Insider Selling -$1.784 -$4.754 -$3.007 -$4.790 $119.808 $45.161 $80.853 -$5.715 $0.000
% of Market Cap -0.02% -0.03% -0.03% -0.02% 0.24% 0.09% 0.20% -0.01% 0.00%
Directors 12 11 12 12 12 13 14 14
Women 17% 3 25% 3 27% 3 25% 3 25% 4 33% 4 31% 5 36% 5 36%
Minorities 0% 0 0% 0 0% 2 17% 2 17% 1 8% 1 8% 1 7% 1 7%
Institutions/Holdings 61.99% 20 20 116.06% 20 79.39% 20 37.82% 20 61.15% 20 61.15% 20 31.77% Does not make sense
Total Shares Held 63.80% 1,122.240 91.33% 1,426.119 116.05% 1,532.978 76.60% 717.291 38.32% 1,135.043 62.19% 647.418 34.37% 585.845 31.68% and funds have 309M
Increase/Decrease 0.43% 0.432 0.04% 8.626 0.61% 4.915 0.32% -105.625 -12.84% -69.775 -5.79% -9.857 -1.50% -54.620 -8.53%
Starting No. of Shares Reuters 1,121.808 Top 20 1,417.493 Top 20 1,528.063 Top 20 822.916 Top 20 1,204.818 Top 20 657.275 Top 20 640.465 Top 20
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