| 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. |
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| While I try to
be accurate, I assume no responsibility for any figure in this spreadsheet. |
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3/31/11 |
<-Q1 2011 |
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| See my website
on stocks or see my blog at the following sites. |
www.spbrunner.com/stocks.html |
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www.spbrunner.blogspot.com/ |
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| Canadian
Utilities Ltd |
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CU |
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www.canadian-utilities.com |
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Fiscal Yr: |
Dec 31 |
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| Year |
12/31/99 |
12/31/00 |
12/31/01 |
12/31/02 |
12/31/03 |
12/31/04 |
12/31/05 |
12/31/06 |
12/31/07 |
12/31/08 |
12/31/09 |
12/31/10 |
12/31/11 |
12/30/12 |
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#Y |
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| Split |
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2 |
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C GAAP |
IFRS |
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| Revenue* |
$2,207.7 |
$2,923.1 |
$3,513.6 |
$2,975.9 |
$3,742.6 |
$3,089.4 |
$2,515.8 |
$2,430.4 |
$2,404.9 |
$2,778.9 |
$2,584.0 |
$2,657.2 |
$2,707.2 |
<-12 mths |
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-9.10% |
<-Total Growth |
10 |
Revenue |
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| Increase |
13.47% |
32.40% |
20.20% |
-15.30% |
25.76% |
-17.45% |
-18.57% |
-3.39% |
-1.05% |
15.55% |
-7.01% |
2.83% |
1.88% |
<-12 mths |
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-0.95% |
<-IRR #YR-> |
10 |
Revenue |
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| Rev per Share |
$17.42 |
$23.09 |
$27.75 |
$23.46 |
$29.52 |
$24.37 |
$19.83 |
$19.38 |
$19.19 |
$22.14 |
$20.53 |
$21.10 |
Q1 2010 |
Q1 2011 |
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1.10% |
<-IRR #YR-> |
5 |
Revenue |
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| P/S (Price/Sales) |
1.12 |
1.10 |
0.90 |
1.09 |
0.98 |
1.24 |
2.22 |
2.46 |
2.42 |
1.83 |
2.13 |
2.58 |
$759.00 |
$809.00 |
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-0.90% |
<-IRR #YR-> |
10 |
Rev Per share |
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| *Revenue in M
CDN $ |
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P/S |
10 yr |
1.98 |
5 yr |
2.42 |
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6.59% |
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1.25% |
<-IRR #YR-> |
5 |
Rev Per share |
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-$2,923 |
$0.0 |
$0.0 |
$0.0 |
$0.0 |
$0.0 |
$0.0 |
$0.0 |
$0.0 |
$0.0 |
$2,657 |
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-$2,515.8 |
$0.0 |
$0.0 |
$0.0 |
$0.0 |
$2,657 |
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-$23.09 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$21.10 |
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-$19.83 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$21.10 |
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YR 2011 |
YR 2012 |
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| Split pre '05 |
$3.14 |
$3.58 |
$3.72 |
$4.79 |
$4.07 |
$4.86 |
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| EPS* |
$1.57 |
$1.79 |
$1.86 |
$2.40 |
$2.04 |
$2.43 |
$2.08 |
$2.56 |
$3.07 |
$3.28 |
$3.71 |
$3.45 |
$3.60 |
$3.95 |
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92.74% |
<-Total Growth |
10 |
Earnings |
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| Increase |
4.67% |
14.01% |
3.91% |
28.76% |
-15.03% |
19.41% |
-14.40% |
23.08% |
19.92% |
6.84% |
13.11% |
-7.01% |
4.35% |
9.72% |
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6.78% |
<-IRR #YR-> |
10 |
Earnings |
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| * ESP per
share (Cdn GAAP) |
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10.65% |
<-IRR #YR-> |
5 |
Earnings |
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-$1.79 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$3.45 |
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-$2.08 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$3.45 |
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| Special div |
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$0.25 |
<--extra |
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| Split pre '05 |
$1.72 |
$1.80 |
$1.88 |
$1.96 |
$2.04 |
$2.12 |
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| Div* |
$0.86 |
$0.90 |
$0.94 |
$0.98 |
$1.02 |
$1.06 |
$1.10 |
$1.15 |
$1.25 |
$1.33 |
$1.41 |
$1.51 |
$1.61 |
$1.61 |
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67.78% |
<-Total Growth |
10 |
Dividends |
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| Increase |
4.88% |
4.65% |
4.44% |
4.26% |
4.08% |
3.92% |
3.77% |
4.55% |
8.70% |
6.40% |
6.02% |
7.09% |
6.62% |
0.00% |
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4.49% |
<-Median-> |
10 |
Dividends |
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| Yield H/L |
4.21% |
4.37% |
3.74% |
3.60% |
3.90% |
3.67% |
2.90% |
2.74% |
2.58% |
3.12% |
3.56% |
3.12% |
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3.34% |
<-Median-> |
10 |
Dividends |
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| Yield on Low |
5.32% |
5.81% |
4.22% |
4.02% |
4.52% |
4.12% |
3.72% |
3.27% |
2.94% |
3.80% |
4.13% |
3.57% |
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3.91% |
<-Median-> |
10 |
Dividends |
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| Yield on Cl |
4.41% |
3.53% |
3.78% |
3.83% |
3.53% |
3.51% |
2.50% |
2.41% |
2.69% |
3.28% |
3.22% |
2.78% |
2.89% |
2.89% |
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3.25% |
<-Median-> |
10 |
Dividends |
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| Price/Dividend |
22.67 |
28.33 |
26.46 |
26.13 |
28.36 |
28.45 |
39.98 |
41.50 |
37.12 |
30.45 |
31.03 |
36.03 |
34.55 |
34.55 |
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30.74 |
<-Median-> |
10 |
Dividends |
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| Payout Ratio |
54.8% |
50.3% |
50.5% |
40.9% |
50.1% |
43.6% |
52.9% |
44.9% |
40.7% |
40.5% |
38.0% |
43.8% |
44.7% |
40.8% |
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43.69% |
<-Median-> |
10 |
Dividends |
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| Payout Ratio CF |
25.5% |
32.5% |
15.9% |
36.5% |
27.3% |
21.0% |
18.6% |
23.3% |
22.2% |
21.1% |
24.0% |
24.9% |
24.6% |
22.6% |
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22.75% |
<-Median-> |
10 |
Dividends |
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| Average 5 Yrs |
Div Yd |
4.94% |
10 |
6.46% |
15 |
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Yield |
3.12% |
2.78% |
Payout |
40.72% |
23.34% |
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5.31% |
<-IRR #YR-> |
10 |
Dividends |
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| * Dividends per share |
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5.5% |
Years |
5.5% |
Years |
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Last Div Inc ---> |
$0.38 |
$0.40 |
6.6% |
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6.54% |
<-IRR #YR-> |
5 |
Dividends |
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-$0.90 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$1.51 |
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-$1.10 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$1.51 |
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| H/LYield held 5 yrs |
7.04% |
7.48% |
6.31% |
5.47% |
4.70% |
5.19% |
5.34% |
4.57% |
4.59% |
5.08% |
4.89% |
3.99% |
3.83% |
3.33% |
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4.98% |
<-Median-> |
10 |
Dividends |
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| H/LYield held
10 yrs |
8.83% |
9.40% |
9.39% |
8.66% |
8.67% |
9.14% |
7.71% |
6.98% |
6.13% |
6.90% |
7.33% |
6.40% |
5.91% |
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8.19% |
<-Median-> |
10 |
Dividends |
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| H/LYield held
15yrs |
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10.80% |
11.50% |
11.98% |
11.29% |
11.54% |
12.55% |
10.80% |
8.99% |
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11.52% |
<-Median-> |
6 |
Dividends |
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| Graham Price * |
$19.89 |
$22.04 |
$23.31 |
$27.89 |
$26.53 |
$30.22 |
$28.64 |
$32.68 |
$37.29 |
$40.22 |
$44.95 |
$44.93 |
$44.04 |
$46.13 |
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My normal Calculation with BV |
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| Prem /Disc.Med H/L |
2.69% |
-6.46% |
7.85% |
-2.37% |
-1.33% |
-4.52% |
32.26% |
28.66% |
29.84% |
5.98% |
-11.84% |
7.66% |
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6.82% |
<-Median-> |
10 |
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| Prem/Disc. High |
24.05% |
16.74% |
20.24% |
7.76% |
12.33% |
5.89% |
61.33% |
49.76% |
45.79% |
24.87% |
0.45% |
21.27% |
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20.76% |
<-Median-> |
10 |
Graham Price |
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| Prem/Disc. Low |
-18.68% |
-29.66% |
-4.54% |
-12.50% |
-15.00% |
-14.92% |
3.19% |
7.56% |
13.88% |
-12.91% |
-24.13% |
-5.95% |
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-9.22% |
<-Median-> |
10 |
Graham Price |
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| Prem/Disc. Cl |
-1.96% |
15.72% |
6.72% |
-8.18% |
9.05% |
-0.20% |
53.58% |
46.06% |
24.44% |
0.69% |
-2.66% |
21.07% |
26.31% |
20.58% |
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7.89% |
<-Median-> |
10 |
Graham Price |
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| Split pre '05 |
$39.00 |
$51.00 |
$49.75 |
$51.21 |
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| Price Cl |
$19.50 |
$25.50 |
$24.88 |
$25.61 |
$28.93 |
$30.16 |
$43.98 |
$47.73 |
$46.40 |
$40.50 |
$43.75 |
$54.40 |
$55.63 |
$55.63 |
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113.33% |
<-Total Growth |
10 |
Stock Price |
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| Increase |
-18.75% |
30.77% |
-2.45% |
2.93% |
12.99% |
4.25% |
45.82% |
8.53% |
-2.79% |
-12.72% |
8.02% |
24.34% |
2.26% |
0.00% |
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7.87% |
<-IRR #YR-> |
10 |
Stock Price |
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| P/E |
12.42 |
14.25 |
13.37 |
10.69 |
14.22 |
12.41 |
21.14 |
18.64 |
15.11 |
12.35 |
11.79 |
15.77 |
15.45 |
14.08 |
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4.34% |
<-IRR #YR-> |
5 |
Stock Price |
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| Trailing P/E |
13.00 |
16.24 |
13.90 |
13.77 |
12.08 |
14.82 |
18.10 |
22.95 |
18.13 |
13.19 |
13.34 |
14.66 |
16.12 |
15.45 |
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11.14% |
<-IRR #YR-> |
10 |
Price & Div |
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| Median 5 Yrs |
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2.76% |
3.27% |
Div % |
5, 10 yrs |
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Price Inc |
8.02% |
P/E: Y-T |
15.11 |
14.66 |
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7.11% |
<-IRR #YR-> |
5 |
Price & Div |
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-$25.50 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$54.40 |
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-$43.98 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$54.40 |
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-$25.50 |
$0.94 |
$0.98 |
$1.02 |
$1.06 |
$1.10 |
$1.15 |
$1.25 |
$1.33 |
$1.41 |
$55.91 |
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-$43.98 |
$1.15 |
$1.25 |
$1.33 |
$1.41 |
$55.91 |
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| Price Average H/L |
$20.43 |
$20.61 |
$25.14 |
$27.23 |
$26.18 |
$28.86 |
$37.88 |
$42.05 |
$48.41 |
$42.63 |
$39.63 |
$48.38 |
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134.69% |
<-Total Growth |
10 |
Stock Price |
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| Increase |
-5.93% |
0.92% |
21.95% |
8.30% |
-3.86% |
10.24% |
31.26% |
11.01% |
15.14% |
-11.94% |
-7.05% |
22.08% |
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8.91% |
<-IRR #YR-> |
10 |
Stock Price |
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| P/E |
13.01 |
11.52 |
13.51 |
11.37 |
12.86 |
11.87 |
18.21 |
16.42 |
15.77 |
13.00 |
10.68 |
14.02 |
|
|
|
5.02% |
<-IRR #YR-> |
5 |
Stock Price |
|
|
|
|
|
|
|
|
| Trailing P/E |
13.62 |
13.13 |
14.04 |
14.64 |
10.93 |
14.18 |
15.59 |
20.21 |
18.91 |
13.89 |
12.08 |
13.04 |
|
|
|
12.80% |
<-IRR #YR-> |
10 |
Price & Div |
|
|
|
|
|
|
|
|
| Median 5 Yrs |
|
|
3.17% |
3.89% |
Div % |
5 & 10 yrs |
|
Price Inc |
11.01% |
P/E: Y-T |
14.02 |
13.89 |
|
|
|
8.18% |
<-IRR #YR-> |
5 |
Price & Div |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-$20.61 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$48.38 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-$37.88 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$48.38 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-$20.61 |
$0.94 |
$0.98 |
$1.02 |
$1.06 |
$1.10 |
$1.15 |
$1.25 |
$1.33 |
$1.41 |
$49.89 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-$37.88 |
$1.15 |
$1.25 |
$1.33 |
$1.41 |
$49.89 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Hi Mths |
|
|
|
|
|
|
|
|
Nov |
Feb |
Dec |
Dec |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Split pre '05 |
$49.35 |
$51.45 |
$56.05 |
$60.10 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Price Hi |
$24.68 |
$25.73 |
$28.03 |
$30.05 |
$29.80 |
$32.00 |
$46.20 |
$48.94 |
$54.36 |
$50.23 |
$45.15 |
$54.49 |
|
|
|
111.82% |
<-Total Growth |
10 |
Stock Price |
|
|
|
|
|
|
|
|
| Increase |
1.02% |
4.26% |
8.94% |
7.23% |
-0.83% |
7.38% |
44.38% |
5.93% |
11.07% |
-7.60% |
-10.11% |
20.69% |
|
|
|
7.79% |
<-IRR #YR-> |
10 |
Stock Price |
|
|
|
|
|
|
|
|
| P/E |
15.72 |
14.37 |
15.07 |
12.55 |
14.64 |
13.17 |
22.21 |
19.12 |
17.71 |
15.31 |
12.17 |
15.79 |
|
|
|
3.36% |
<-IRR #YR-> |
5 |
Stock Price |
|
|
|
|
|
|
|
|
| Trailing P/E |
16.45 |
16.39 |
15.66 |
16.16 |
12.44 |
15.72 |
19.01 |
23.53 |
21.23 |
16.36 |
13.77 |
14.69 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Median 5 Yrs |
|
|
|
|
|
|
|
Price Inc |
5.93% |
P/E: Y-T |
15.79 |
16.36 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-$25.73 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$54.49 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-$46.20 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$54.49 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Low Mths |
|
|
|
|
|
|
|
|
Mar |
Oct |
Apr |
May |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Split pre '05 |
$32.35 |
$31.00 |
$44.50 |
$48.80 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Price Low |
$16.18 |
$15.50 |
$22.25 |
$24.40 |
$22.55 |
$25.71 |
$29.55 |
$35.15 |
$42.46 |
$35.03 |
$34.10 |
$42.26 |
|
|
|
172.65% |
<-Total Growth |
10 |
Stock Price |
|
|
|
|
|
|
|
|
| Increase |
-14.87% |
-4.17% |
43.55% |
9.66% |
-7.58% |
14.01% |
14.94% |
18.95% |
20.80% |
-17.50% |
-2.65% |
23.93% |
|
|
|
10.55% |
<-IRR #YR-> |
10 |
Stock Price |
|
|
|
|
|
|
|
|
| P/E |
10.30 |
8.66 |
11.96 |
10.19 |
11.08 |
10.58 |
14.21 |
13.73 |
13.83 |
10.68 |
9.19 |
12.25 |
|
|
|
7.42% |
<-IRR #YR-> |
5 |
Stock Price |
|
|
|
|
|
|
|
|
| Trailing P/E |
10.78 |
9.87 |
12.43 |
13.12 |
9.42 |
12.63 |
12.16 |
16.90 |
16.59 |
11.41 |
10.40 |
11.39 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Median 5 Yrs |
|
|
|
|
|
|
|
Price Inc |
18.95% |
P/E: Y-T |
12.25 |
11.41 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-$15.50 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$42.26 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-$29.55 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$42.26 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Market Cap |
$2,471 |
$3,229 |
$3,150 |
$3,247 |
$3,667 |
$3,824 |
$5,581 |
$5,985 |
$5,814 |
$5,083 |
$5,506 |
$6,851 |
$7,092 |
$7,092 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Split pre '05 |
63.35 |
63.31 |
63.32 |
63.41 |
63.38 |
63.39 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| # of Sh in M |
126.70 |
126.61 |
126.63 |
126.82 |
126.77 |
126.78 |
126.89 |
125.39 |
125.29 |
125.51 |
125.86 |
125.93 |
127.48 |
127.48 |
|
Class A & B share (A=non-voting) |
|
|
|
|
|
|
|
|
| Increase |
-0.02% |
-0.07% |
0.02% |
0.15% |
-0.05% |
0.01% |
0.09% |
-1.19% |
-0.07% |
0.17% |
0.28% |
0.06% |
1.23% |
0.00% |
|
-0.05% |
<-Average |
10 |
Shares |
|
|
|
|
|
|
|
|
| CF fr Op $M |
$426.70 |
$350.10 |
$747.90 |
$340.30 |
$473.00 |
$640.60 |
$749.50 |
$617.90 |
$706.90 |
$791.80 |
$738.30 |
$764.30 |
$835.01 |
$908.95 |
|
118.31% |
<-Total Growth |
10 |
Cash Flow |
|
|
|
|
|
|
|
|
| OPS |
$3.37 |
$2.77 |
$5.91 |
$2.68 |
$3.73 |
$5.05 |
$5.91 |
$4.93 |
$5.64 |
$6.31 |
$5.87 |
$6.07 |
$6.55 |
$7.13 |
|
119.49% |
<-Total Growth |
10 |
Cash Flow |
|
|
|
|
|
|
|
|
| Non-Cash |
$38.40 |
$139.90 |
-$245.60 |
$160.00 |
$52.80 |
-$102.30 |
-$90.20 |
$39.60 |
$19.00 |
$12.80 |
$55.10 |
-$26.30 |
|
|
|
8.18% |
<-IRR #YR-> |
10 |
Cash Flow |
|
|
|
|
|
|
|
|
| OPS Less Non-Cash |
$3.67 |
$3.87 |
$3.97 |
$3.94 |
$4.15 |
$4.25 |
$5.20 |
$5.24 |
$5.79 |
$6.41 |
$6.30 |
$5.86 |
$6.55 |
$7.13 |
|
0.54% |
<-IRR #YR-> |
5 |
Cash Flow |
|
|
|
|
|
|
|
|
| Increase |
83.44% |
5.43% |
2.49% |
-0.55% |
5.14% |
2.36% |
22.37% |
0.92% |
10.49% |
10.65% |
-1.67% |
-7.03% |
11.77% |
8.85% |
|
4.24% |
<-IRR #YR-> |
10 |
OPS Less N-C |
|
|
|
|
|
|
|
|
| P/O on Cl |
5.31 |
6.59 |
6.27 |
6.49 |
6.97 |
7.10 |
8.46 |
9.10 |
8.01 |
6.32 |
6.94 |
9.28 |
8.49 |
7.80 |
|
2.44% |
<-IRR #YR-> |
5 |
OPS Less N-C |
|
|
|
|
|
|
|
|
| *Operational
Cash Flow per share |
|
|
|
|
|
P/CF |
10 yr |
7.04 |
5 yr |
8.01 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-$2.77 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$6.07 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-$5.91 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$6.07 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-$3.87 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$5.86 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-$5.20 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$5.86 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| OPM |
19.3% |
12.0% |
21.3% |
11.4% |
12.6% |
20.7% |
29.8% |
25.4% |
29.4% |
28.5% |
28.6% |
28.8% |
|
|
|
should be zero, it is a check
on calculations |
|
|
|
|
|
|
|
|
|
|
|
| Diff from Ave |
-28.3% |
-55.6% |
-21.0% |
-57.6% |
-53.1% |
-23.1% |
10.5% |
-5.7% |
9.0% |
5.7% |
6.0% |
6.7% |
|
|
|
0.00 |
<-Median-> |
10 |
OPM |
|
|
|
|
|
|
|
|
| *Operational
Profit Margin (CF/Revenue) Ratio |
|
|
|
|
OPM |
10 Yrs |
26.96% |
5 Yrs |
28.57% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Q1 2011 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Curr Assets |
$563.30 |
$1,182.90 |
$874.50 |
$1,111.7 |
$1,103.0 |
$1,270.0 |
$1,305.0 |
$1,294.5 |
$1,263.7 |
$1,335.1 |
$1,327.9 |
$1,082.0 |
$1,099.0 |
|
|
Liq ratio of 1.5 and up, best |
Assets |
|
|
|
|
|
|
|
|
| Curr Liab. |
$348.00 |
$889.20 |
$622.20 |
$570.20 |
$537.60 |
$396.60 |
$437.0 |
$421.6 |
$445.9 |
$603.6 |
$462.9 |
$467.0 |
$578.0 |
|
|
2.58 |
<-Median-> |
10 |
Liabilities |
|
|
|
|
|
|
|
|
| Liquidity |
1.62 |
1.33 |
1.41 |
1.95 |
2.05 |
3.20 |
2.99 |
3.07 |
2.83 |
2.21 |
2.87 |
2.32 |
1.90 |
|
|
2.83 |
<-Median-> |
5 |
Ratio |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Assets |
$5,429 |
$5,390 |
$5,404 |
$5,934 |
$6,097 |
$6,436 |
$6,818 |
$6,994 |
$7,285 |
$7,864 |
$9,084 |
$9,415 |
$9,654 |
|
|
A/L ratio of 1.5 and up, best |
Assets |
|
|
|
|
|
|
|
|
| Liab. |
$3,673 |
$3,527 |
$3,424 |
$3,618 |
$3,512 |
$3,682 |
$3,958 |
$4,032 |
$4,139 |
$4,488 |
$5,253 |
$5,280 |
$5,753 |
|
|
1.74 |
<-Median-> |
10 |
Liabilities |
|
|
|
|
|
|
|
|
| Asset/Liability R. |
1.48 |
1.53 |
1.58 |
1.64 |
1.74 |
1.75 |
1.72 |
1.73 |
1.76 |
1.75 |
1.73 |
1.78 |
1.68 |
|
|
1.75 |
<-Median-> |
5 |
Ratio |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Pref Shares * |
$337 |
$337 |
$337 |
$487 |
$637 |
$637 |
$637 |
$637 |
$625 |
$625 |
$785 |
$860 |
$848 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Book Value |
$1,419 |
$1,527 |
$1,644 |
$1,830 |
$1,949 |
$2,118 |
$2,224 |
$2,325 |
$2,522 |
$2,752 |
$3,046 |
$3,275 |
$3,053 |
|
|
114.56% |
<-Total Growth |
10 |
Book Value |
|
|
|
|
|
|
|
|
| BV per share |
$11.20 |
$12.06 |
$12.98 |
$14.43 |
$15.37 |
$16.70 |
$17.52 |
$18.54 |
$20.13 |
$21.92 |
$24.20 |
$26.01 |
$23.95 |
$23.95 |
|
115.72% |
<-Total Growth |
10 |
Book Value |
|
|
|
|
|
|
|
|
| Change |
6.39% |
7.65% |
7.67% |
11.17% |
6.52% |
8.67% |
4.91% |
5.81% |
8.56% |
8.93% |
10.39% |
7.46% |
-7.92% |
|
|
1.2231 |
Current/Historical |
|
Book Value |
|
|
|
|
|
|
|
|
| P/BV (CL) |
1.74 |
2.12 |
1.92 |
1.77 |
1.88 |
1.81 |
2.51 |
2.57 |
2.31 |
1.85 |
1.81 |
2.09 |
2.32 |
|
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7.99% |
<-IRR #YR-> |
10 |
Book Value |
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| Change |
-23.63% |
21.48% |
-9.40% |
-7.40% |
6.07% |
-4.07% |
39.00% |
2.57% |
-10.45% |
-19.87% |
-2.14% |
15.71% |
11.06% |
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|
8.22% |
<-IRR #YR-> |
5 |
Book Value |
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| Leverage (A/BK) |
3.83 |
3.53 |
3.29 |
3.24 |
3.13 |
3.04 |
3.07 |
3.01 |
2.89 |
2.86 |
2.98 |
2.87 |
3.16 |
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3.04 |
<-Average |
10 |
A/BV |
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| Debt/Equity Ratio |
2.59 |
2.31 |
2.08 |
1.98 |
1.80 |
1.74 |
1.78 |
1.73 |
1.64 |
1.63 |
1.72 |
1.61 |
1.88 |
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2.92 |
<-Average |
5 |
A/BV |
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| Medians |
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P/BV |
10 yr Ave |
1.90 |
5 yr Ave |
2.09 |
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-$12.06 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$26.01 |
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-$17.52 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$26.01 |
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| ROE |
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14.8% |
14.2% |
14.2% |
15.4% |
12.9% |
17.6% |
<-12 mths |
|
14.21% |
<-Median-> |
5 |
Compreh. Inc |
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| Comprehensive Inc |
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$345.20 |
$357.80 |
$391.10 |
$468.80 |
$422.20 |
$536.20 |
<-12 mths |
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Compreh. Inc |
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| ROE |
14.1% |
14.9% |
14.4% |
16.7% |
13.3% |
14.6% |
11.9% |
13.9% |
15.3% |
15.0% |
15.3% |
13.3% |
15.2% |
<-12 mths |
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Net Income/Shareholders'
equity |
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| 5Yr Running Ave |
13.4% |
14.0% |
14.5% |
15.0% |
14.7% |
14.8% |
14.1% |
14.0% |
13.9% |
14.2% |
14.4% |
14.6% |
14.8% |
<-12 mths |
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| Net Income |
$200.10 |
$227.40 |
$237.10 |
$305.00 |
$259.10 |
$309.00 |
$265.60 |
$323.90 |
$386.70 |
$413.10 |
$466.60 |
$435.00 |
$464.00 |
<-12 mths |
|
91.29% |
<-Total Growth |
10 |
Net Income |
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| Oper C. F. |
$426.70 |
$350.10 |
$747.90 |
$340.30 |
$473.00 |
$640.60 |
$749.50 |
$617.90 |
$706.90 |
$791.80 |
$738.30 |
$764.30 |
$827.30 |
<-12 mths |
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C F Statement |
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Oper C. F. |
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| Invest. C. F |
-$351.10 |
-$432.10 |
-$517.70 |
-$419.30 |
-$777.00 |
-$469.30 |
-$470.40 |
-$527.50 |
-$642.10 |
-$813.10 |
-$852.10 |
-$777.50 |
-$783.50 |
<-12 mths |
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C F Statement |
|
Invest. C. F |
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| Total Accruals |
$124.50 |
$309.40 |
$6.90 |
$384.00 |
$563.10 |
$137.70 |
-$13.50 |
$233.50 |
$321.90 |
$434.40 |
$580.40 |
$448.20 |
$420.20 |
<-12 mths |
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Accruals |
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| Total Assets |
$5,428.6 |
$5,390.1 |
$5,404.0 |
$5,934.4 |
$6,096.5 |
$6,436.1 |
$6,817.8 |
$6,993.5 |
$7,285.4 |
$7,864.4 |
$9,083.6 |
$9,415.3 |
$9,654.0 |
<-12 mths |
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|
Balance Sheet |
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Assets |
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| Accruals Ratio |
2.29% |
5.74% |
0.13% |
6.47% |
9.24% |
2.14% |
-0.20% |
3.34% |
4.42% |
5.52% |
6.39% |
4.76% |
4.35% |
<-12 mths |
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Ratio |
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| up/down/neutral |
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| Chge in Close |
-18.75% |
30.77% |
-2.45% |
2.93% |
12.99% |
4.25% |
45.82% |
8.53% |
-2.79% |
-12.72% |
8.02% |
24.34% |
2.26% |
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| Any Predictions? |
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| Fin. C. F |
-$69.20 |
$75.50 |
-$27.10 |
$264.40 |
$139.90 |
$199.40 |
-$141.80 |
-$132.30 |
-$98.80 |
$12.00 |
$197.00 |
-$232.30 |
-$224.30 |
<-12 mths |
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C F Statement |
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Fin. C. F |
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| Total Accruals |
$193.70 |
$233.90 |
$34.00 |
$119.60 |
$423.20 |
-$61.70 |
$128.30 |
$365.80 |
$420.70 |
$422.40 |
$383.40 |
$680.50 |
$644.50 |
<-12 mths |
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Accruals |
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| Accruals Ratio |
3.57% |
4.34% |
0.63% |
2.02% |
6.94% |
-0.96% |
1.88% |
5.23% |
5.77% |
5.37% |
4.22% |
7.23% |
6.68% |
<-12 mths |
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Ratio |
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| Jul 23,
2011. When I last looked I got
estimates for 2010 and 2011 of $3.30 and $3.43 for EPS and $$6.30 and $6.70
for CF. |
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| Aug 15,
2010. When I last looked at this
stock, the 2009 and 2010 earnings estimates were $2.95 (came in at $3.71) and
$3.02 and Cash Flow $6.40 and $6.55. |
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| Nov 19,
2009. When I looked at this in July
2009, I picked up earnings for 2009 and 2010 of $2.93 and $3.02 and cash flow
of $6.25 and $6.50. |
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| Jul 7,
2009. In Jan 2009 I picked up earnings
estimates for 2009 and 2010 of $2.94
and $2.89. Earnings for 2009 were
$3.28. |
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| July
2011. Current thinking is that
preferred shares are neither equity or liability. |
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| Notes: * I
looked at preferred shares for this company as there is some controvsy of
whether these shares are a liability or equity. Mostly it seems to be that they are a
liability. |
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| However, I
have separated them out. Graham Price
formula generally uses the book value, but really it is asset less
liabilities divided by no. of shares.
However, if we exclude |
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| preferred
shares from the liabilities of this company, the Graham Price is higher. See values below. However, as in most valuations it is the
relative values that count. |
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| For example,
not only do you look at the Graham Price, but on the past differnces between
stock price and Graham Price. |
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| How they make
their money. |
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| Canadian
Utilities Limited operates in four business segments: regulated natural gas
operations; regulated electric operations; technologies; and power
generation. These operations provide service to industrial, |
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| residential
and commercial customers. Other businesses consist of natural gas gathering,
processing, storage and natural gas supply management and technical
facilities management. |
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| ATCO (ACO.X)
owns just over 50% of this company.
CU.X is voting and Class B, CU is non-voting and Class A. |
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| 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. |
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| Also, for
the Operational Profit Margin, a higher percentage is better. With the OPM, you should only compare
companies in similar industries. |
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| Copyright ©
2008 Website of SPBrunner. All rights reserved. |
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|
ATCO stake |
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33.155 |
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yr 2011 |
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34.120 |
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67.274 |
52.77% |
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