This report should not be construed as providing investment advice. It is for educational purposes only.  Before making any investment decision, you should always do your own research or consult a investment professional.
While I try to be accurate, I assume no responsibility for any figure in this spreadsheet.
See my website on stocks or see my blog at the following sites.  www.spbrunner.com/stocks.html www.spbrunner.blogspot.com/
K-Bro Linen Inc www.k-brolinen.com KBL Fiscal Yr: Dec 31 03/31/11
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 #Y
Accting Rules C GAAP IFRS IFRS
Revenue* $48.1 $65.1 $74.1 $85.1 $87.5 $104.1 $111.9 $120.6 116.32% <-Total Growth 5 Revenue
Increase 35.36% 13.81% 14.86% 2.83% 18.88% 7.54% 7.79% #NUM! <-IRR #YR-> 10 Revenue
Rev per Share $10.89 $11.85 $13.48 $12.15 $12.49 $14.85 $15.97 $17.22 16.69% <-IRR #YR-> 5 Revenue
P/S (Price/Sales) 1.17 0.93 1.00 0.80 1.08 1.23 1.30 1.21 #NUM! <-IRR #YR-> 10 Rev Per share
Averages P/S 10 yr  1.04 5 yr  1.00 6.40% <-IRR #YR-> 5 Rev Per share
*Revenue in M CDN $ 
$0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $104.1
-$48.1 $0.0 $0.0 $0.0 $0.0 $104.1
$0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $14.9
-$10.9 $0.0 $0.0 $0.0 $0.0 $14.9
Distri Cash $6.7 $7.2 $7.7 $11.0 $14.0 $15.6 $14.9 $15.6 115.99% <-Total Growth 6 Distri Cash
Distri Cash $1.52 $1.39 $1.40 $1.66 $1.99 $2.22 $2.12 $2.23 58.46% <-Total Growth 6 Distri Cash
Increase -8.38% 0.79% 18.49% 19.88% 11.56% -4.50% 5.19% #NUM! <-IRR #YR-> 10 Distri Cash
Payout R. Dis 68.7% 79.1% 78.5% 66.3% 55.3% 49.6% 51.9% 49.3% 7.91% <-IRR #YR-> 5 Distri Cash
P/D Inc 8.40 7.89 9.63 5.86 6.77 8.24 9.83 9.35
Trailing P/D Inc 7.23 9.71 6.94 8.12 9.20 9.39 9.83 <--this should no longer count
Median Payout 66.27% P/E: Y-T 7.89 8.1 Because company is a corporation
Currently seems to be using Free Cash Flow
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.22
-$1.52 $0.00 $0.00 $0.00 $0.00 $2.22
EPS* $0.74 $0.78 $0.75 $0.71 $1.11 $1.13 $1.14 $1.27 44.87% <-Total Growth 6 Earnings
Increase 5.41% -3.85% -5.33% 56.34% 1.80% 0.88% 11.40% #NUM! <-IRR #YR-> 10 Earnings
* ESP per share (Cdn GAAP) 8.84% <-IRR #YR-> 5 Earnings
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.13
-$0.74 $0.00 $0.00 $0.00 $0.00 $1.13
9mths $0.78
Div* $1.04 $1.10 $1.10 $1.10 $1.10 $1.10 $1.10 $1.10 5.60% <-Total Growth 6 Dividends
Increase 5.60% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% <-Median-> 5 Dividends
Yield H/L 8.98% 7.55% 8.80% 9.89% 9.24% 6.71% 8.89% <-Median-> 6 Dividends
Yield on high 7.89% 6.97% 7.80% 8.06% 7.96% 5.75% 7.85% <-Median-> 6 Dividends
Yield on Cl 8.17% 10.03% 8.15% 11.32% 8.16% 6.01% 5.28% 5.28% 8.17% <-Median-> 6 Dividends
Payout Ratio 140.8% 141.0% 146.7% 154.9% 99.1% 97.3% 96.5% 86.6% 140.90% <-Median-> 6 Dividends
Payout Ratio CF 64.6% 132.6% 87.1% 49.9% 65.0% 45.0% 43.0% 64.80% <-Median-> 6 Dividends
Average 5 Yrs Div Yd 5.28% in 5 yrs 5.28% Yield  8.44% 8.73% Payout 127.82% 75.92% #NUM! <-IRR #YR-> 10 Dividends
* Dividends per share  0.00% 5 0.00% 10 Last Div Inc ---> $0.09 $0.09 0.0% 1.10% <-IRR #YR-> 5 Dividends
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.10
-$1.04 $0.00 $0.00 $0.00 $0.00 $1.10
H/LYield held 5 yrs 9.48% 7.55% 8.80% Ave H/L Yield on your  Dividends
H/LYield held 10 yrs #DIV/0! #DIV/0! Ave H/L original money Dividends
Graham No. $11.91 $12.66 $12.17 $12.07 $15.08 $15.21 $15.11 $15.94 Cl Pr higher/lower by?
Prem /Disc. High 10.84% 24.68% 15.86% 13.11% -8.36% 25.74% 14.48% <-Median-> 6 Graham Price
Prem /Disc. Ave -2.55% 15.08% 2.71% -7.81% -21.03% 7.88% 0.08% <-Median-> 6 Graham Price
Prem /Disc. Low -15.94% 5.48% -10.44% -28.74% -33.69% -9.97% -$0.13 <-Median-> 6 Graham Price
Prem /Disc. CL 7.06% -13.32% 10.84% -19.46% -10.62% 20.34% 37.95% 30.70% -1.78% <-Median-> 6 Graham Price
Price Cl $10.00 $12.75 $10.97 $13.49 $9.72 $13.48 $18.30 $20.84 $20.84 66.82% <-Total Growth 7 Stock Price
Increase 27.50% -13.96% 22.97% -27.95% 38.68% 35.76% 13.88% 0.00% #NUM! <-IRR #YR-> 10 Stock Price
P/E 17.23 14.06 17.99 13.69 12.14 16.19 18.28 16.41 7.49% <-IRR #YR-> 5 Stock Price
Trailing P/E 14.82 17.29 12.96 18.99 16.49 18.44 18.28 #NUM! <-IRR #YR-> 10 Price & Div
Median 5 Yrs 7.58% #NUM! Div %  5, 10 yrs Price Inc 22.97% P/E: Y-T 14.06 16.49 15.07% <-IRR #YR-> 5 Price & Div
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $18.30
-$12.75 $0.00 $0.00 $0.00 $0.00 $18.30
$0.00 $0.00 $0.00 $0.00 $0.00 $1.04 $1.10 $1.10 $1.10 $1.10 $19.40
-$12.75 $1.10 $1.10 $1.10 $1.10 $19.40
Price Ave H/L $11.61 $14.57 $12.50 $11.13 $11.91 $16.41 12.63% <-Total Growth 6 Stock Price
Increase 25.51% -14.18% -11.00% 7.06% 37.74% #NUM! <-IRR #YR-> 10 Stock Price
P/E 15.68 18.67 16.67 15.67 10.73 14.52 7.17% <-IRR #YR-> 5 Stock Price
Trailing P/E 19.68 16.03 14.83 16.77 14.78 #NUM! <-IRR #YR-> 10 Price & Div
Median 5 Yrs 8.38% #NUM! Div %  5, 10 yrs Price Inc 7.06% P/E: Y-T 15.67 16.03 15.55% <-IRR #YR-> 5 Price & Div
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $16.41
-$11.61 $0.00 $0.00 $0.00 $0.00 $16.41
$0.00 $0.00 $0.00 $0.00 $0.00 $1.04 $1.10 $1.10 $1.10 $1.10 $17.51
-$11.61 $1.10 $1.10 $1.10 $1.10 $17.51
Hi Mths Aug Apr Jun Feb Dec Dec
Price Hi $13.20 $15.78 $14.10 $13.65 $13.82 $19.12 21.17% <-Total Growth 6 Stock Price
Increase 19.55% -10.65% -3.19% 1.25% 38.35% #NUM! <-IRR #YR-> 10 Stock Price
P/E 17.84 20.23 18.80 19.23 12.45 16.92 7.69% <-IRR #YR-> 5 Stock Price
Trailing P/E 21.32 18.08 18.20 19.46 17.23
Median 5 Yrs Price Inc 1.25% P/E: Y-T 18.80 18.20
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $19.12
-$13.20 $0.00 $0.00 $0.00 $0.00 $19.12
Low Mths Mar Dec Jan Oct Jan Jan
Price Low $10.01 $13.35 $10.90 $8.60 $10.00 $13.69 2.55% <-Total Growth 3 Stock Price
Increase 33.37% -18.35% -21.10% 16.28% 36.90% #NUM! <-IRR #YR-> 10 Stock Price
P/E 17.12 14.53 12.11 9.01 12.12 6.46% <-IRR #YR-> 5 Stock Price
Trailing P/E 18.04 13.97 11.47 14.08 12.33
Median 5 Yrs Price Inc 16.28% P/E: Y-T 12.12 13.97
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $13.69
Market Cap $44 $56 $60 $74 $68 $94 $128 $146 $146
# of Sh in M 4.416 4.416 5.496 5.496 7.005 7.005 7.005 7.005 7.005 Unitholders' Equity Shares
Increase 24.46% 0.00% 27.45% 0.00% 0.00% 0.00% 0.00% 10.38% <-Average 5 Shares
CF fr Op $M $7.1 $4.6 $6.9 $15.5 $11.9 $17.1 $17.91 <-12 mths 275.26% <-Total Growth 6 Cash Flow
OPS $1.61 $0.83 $1.26 $2.21 $1.69 $2.44 $2.56 <-12 mths 194.44% <-Total Growth 6 Cash Flow
Increase -48.54% 52.30% 74.68% -23.26% 44.22% 44.22% <-Median-> 5 Cash Flow
Non-Cash CF $0.0 $3.2 $1.4 -$3.8 $3.3 $0.6 $0.30 <-12 mths #NUM! <-IRR #YR-> 10 Cash Flow
OPS non-cash $1.61 $1.42 $1.51 $1.67 $2.17 $2.53 $2.60 <-12 mths 8.67% <-IRR #YR-> 5 Cash Flow
Increase -12.19% 6.87% 10.13% 30.10% 16.90% #NUM! <-IRR #YR-> 10 CF - non cash
P/CF on Cl 7.91 7.75 8.92 5.84 6.22 7.22 8.02 <-12 mths 9.46% <-IRR #YR-> 5 CF - non cash
Averages P/CF 10 yr 7.49 5 yr  7.22
*Operational Cash Flow per share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.44
-$1.61 $0.00 $0.00 $0.00 $0.00 $2.44
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $2.53
-$1.61 $0.00 $0.00 $0.00 $0.00 $2.53
OPM 14.80% 7.00% 9.37% 18.16% 13.55% 16.44% should be zero, it is a check on calculations
Diff from Ave 4.4% -50.6% -33.9% 28.1% -4.4% 16.0% 0.00 <-Median-> 6 OPM
*Operational Profit Margin (CF/Revenue) Ratio OPM 10 Yrs 14.17% 5 Yrs 13.55%
Q1 2011
Curr Assets $12.29 $16.43 $18.54 $17.48 $18.71 $22.56 $23.08 Liq ratio of 1.5 and up, best Assets
Curr Liab. $9.10 $10.32 $13.15 $13.53 $10.52 $13.42 $15.07 1.50 <-Median-> 6 Liabilities
Liquidity 1.35 1.59 1.41 1.29 1.78 1.68 1.53 1.59 <-Median-> 5 Ratio
Assets $58.46 $75.07 $83.34 $85.93 $82.82 $92.13 $90.47 A/L ratio of 1.5 and up, best Assets
Liability $20.84 $24.91 $35.10 $22.06 $19.02 $28.42 $28.15 3.13 <-Median-> 6 Liabilities
A/L Ratio 2.80 3.01 2.37 3.89 4.35 3.24 3.21 3.24 <-Median-> 5 Ratio
Book Value $37.62 $50.16 $48.24 $63.86 $63.79 $63.71 $62.33 27.00% <-Total Growth 5 Book Value
BV per share $8.52 $9.13 $8.78 $9.12 $9.11 $9.09 $8.90 $8.90 -0.35% <-Total Growth 5 Book Value
Change 7.15% -3.83% 3.87% -0.11% -0.13% -2.17% 0.00% 1.5735 Current/Historical Book Value
P/BV (CL) 1.50 1.20 1.54 1.07 1.48 2.01 2.34 2.34 #NUM! <-IRR #YR-> 10 Book Value
Change -19.70% 27.87% -30.63% 38.83% 35.94% 16.41% 0.00% 1.32% <-IRR #YR-> 5 Book Value
Leverage (A/BK) 1.55 1.50 1.73 1.35 1.30 1.45 1.45 1.47 <-Median-> 6 A/BV
Debt/Equity Ratio 0.55 0.50 0.73 0.35 0.30 0.45 0.45 0.47 <-Median-> 6 Debt/Eq Ratio
Averages P/BV 10 yr Ave 1.49 5 yr Ave 1.48
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $9.09
-$8.52 $0.00 $0.00 $0.00 $0.00 $9.09
ROE 7.7% 8.5% 7.4% 12.4% 12.3% 12.7% <-12 mths 8.47% <-Median-> 5 Compreh. Inc
Comprehensive Inc $3.88 $4.09 $4.70 $7.88 $7.84 $7.94 <-12 mths Compreh. Inc
ROE 9.2% 7.7% 8.5% 7.5% 12.2% 12.2% 12.7% <-12 mths Net Income/Shareholders' equity
5Yr Median 8.5% 8.5% 12.2% <-12 mths
Net Income $3.45 $3.88 $4.11 $4.82 $7.80 $7.79 $7.91 <-12 mths 125.51% <-Total Growth 5
Oper C. F. $7.12 $4.56 $6.94 $15.45 $11.86 $17.11 $17.91 <-12 mths Cash Flow Statement CF from continuing operations
Invest. C. F -$36.52 -$17.12 -$8.24 -$13.57 -$4.14 -$15.48 -$3.13 <-12 mths Cash Flow Statement
Total Accruals $32.86 $16.44 $5.42 $2.93 $0.08 $6.16 -$6.86 <-12 mths
Total Assets $58.46 $75.07 $83.34 $85.93 $82.82 $92.13 $90.47 <-12 mths Balance Sheet
Accruals Ratio 56.21% 21.90% 6.50% 3.41% 0.09% 6.68% -7.59% <-12 mths
up/down/neutral Need free cash flow (cash from operations, with depreciation and amortization added back and capital spending subtracted) to amply cover the payouts.
Chge in Close 27.50% -13.96% 22.97% -27.95% 38.68% 35.76% 13.88%
Any Predictions?
Fin. C. F $29.41 $12.56 $1.30 -$1.89 -$7.72 -$1.63 -$14.78 <-12 mths
Total Accruals $3.45 $3.88 $4.11 $4.82 $7.80 $7.79 $7.92 <-12 mths
Accruals Ratio 5.91% 5.17% 4.94% 5.61% 9.42% 8.45% 8.75% <-12 mths
Jun 11, 2011.  When I last looked I got estimates for 2010 ,  2011 and 2012  of $1.19, $1.12 and 1.16 respectively.
Estimated earnings has gone up for 2011 above dividend payments, however, they earned only $.22 in the first quarter and paid out $.28 in dividends.  Book Value as therefore gone down and deficit up.
Feb 12, 2011.  Last I looked I got 2009 earnings of $.97 and $.99.
They have changed from a Unit Trust to a corporation.  Symbol changed from KBL.UN to just KBL.  And K-Bro Linen Income Fund to K-Bro Linen Inc
This fund was started  Dec 10, 2004.  They have increase the amount of distributions, but in the last 3 years, there has been no increase in distribution per unit.
How they make their money.
K-Bro is the largest owner and operator of laundry and linen processing facilities in Canada. K-Bro provides a comprehensive range of general linen and operating room linen processing, management and 
distribution services to healthcare institutions, hotels and other commercial accounts. K-Bro currently has seven processing plants in six Canadian cities: Quebec City, Toronto, Edmonton, Calgary, Vancouver and Victoria. 
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.
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Screening for small-caps  See CHL
K-Bro Linen Inc. (KBL/TSX), founded as Stork Diaper Service in 1954, owns and operates laundry and linen processing facilities in Canada, employing about 1,500 people in Victoria, Vancouver, Edmonton, Calgary, Toronto and Quebec City.
K-Bro gets about 75% of its revenue from contracts to clean linen at hospitals, nursing homes and other health-care facilities, and about 25% from hotels and other commercial clients. K-Bro, another former income trust, announced a 9.167¢ per share monthly payout.
Edmonton-based K-Bro’s debt to assets ratio of 12.6% is among the lowest in the industry, while its 5.5% dividend yield helped investors enjoy a 50% total return over the past year. It is thinly traded, however.
McCurdy, Linda Jane 0.066 0.94% $1,377,149
Curtis, Sean Philip 0.057 0.81% $1,178,898
Institutions:  8 own 48% 3,368,396 $70,197,373
325,184 $6,776,835 8.8%
3,693,580 $76,974,207