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/
Lassonde Industries  www.lassonde.com LAS.A Fiscal Yr: Dec 31
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 12/30/13 12/31/10 #Y
Revenue* $204.5 $236.2 $208.1 $229.1 $247.5 $261.7 $322.8 $353.3 $401.0 $505.1 $524.2 $536.2 $765.9 $995.6 127.01% <-Total Growth 10 Revenue
Increase 12.11% 15.50% -11.88% 10.06% 8.05% 5.71% 23.34% 9.47% 13.49% 25.98% 3.77% 2.30% 42.83% 29.99% 8.54% <-IRR #YR-> 10 Revenue
Rev per Share $30.64 $35.39 $31.32 $34.07 $36.49 $38.36 $47.36 $52.56 $60.25 $76.03 $79.47 $81.80 $116.36 $151.25 10.69% <-IRR #YR-> 5 Revenue
P/S (Price/Sales) 0.47 0.38 0.53 0.48 0.63 0.74 0.83 0.67 0.67 0.43 0.67 0.71 0.55 0.46 8.74% <-IRR #YR-> 10 Rev Per share
Averages P/S 10 yr  0.67 5 yr  0.67 11.55% <-IRR #YR-> 5 Rev Per share
*Net Sales in M CDN $ 
-$236.2 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $0.0 $536.2
-$322.8 $0.0 $0.0 $0.0 $0.0 $536.2
-$35.39 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $81.80
-$47.36 $0.00 $0.00 $0.00 $0.00 $81.80
Yr 2011 Yr 2012
EPS* $1.08 $1.30 $1.41 -$0.03 $2.02 $1.76 $2.51 $2.02 $3.49 $4.35 $4.62 $4.82 $5.95 $6.50 270.77% <-Total Growth 10 Earnings
Increase 24.14% 20.37% 8.46% -102% -7066% -12.87% 42.61% -19.52% 72.77% 24.64% 6.21% 4.33% 23.44% 9.24% 14.00% <-IRR #YR-> 10 Earnings
Earnings Yield 7.5% 9.6% 8.5% -0.2% 8.8% 6.2% 6.4% 5.7% 8.6% 13.4% 8.7% 8.3% 9.3% 9.4% 13.94% <-IRR #YR-> 5 Earnings
* ESP per share (Cdn GAAP) E/P 10 Yrs 8.41% 5Yrs 8.62%
-$1.30 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $4.82
-$2.51 $0.00 $0.00 $0.00 $0.00 $4.82
Div* $0.28 $0.28 $0.32 $0.36 $0.36 $0.50 $0.50 $0.59 $0.53 $0.77 $1.03 $1.14 $1.19 $1.20 $1.20 307.14% 271.88% <-Total Growth 10 Dividends
Increase 0.00% 0.00% 14.29% 12.50% 0.00% 38.89% 0.00% 18.00% -10.17% 45.28% 33.12% 11.22% 4.39% 0.84% 0.00% 13.39% 11.86% <-Median-> 10 Dividends
Yield H/L Pr. 1.76% 2.15% 2.21% 1.92% 1.83% 2.03% 1.53% 1.57% 1.38% 1.95% 2.28% 2.13% 1.76% 1.93% 1.87% <-Median-> 10 Dividends
Yield on High  Pr. 1.60% 1.93% 1.88% 1.60% 1.57% 1.77% 1.25% 1.48% 1.31% 1.63% 1.80% 1.99% 1.54% 1.62% 1.59% <-Median-> 10 Dividends
Yield on Low Pr. 1.94% 2.43% 2.67% 2.40% 2.19% 2.38% 1.98% 1.67% 1.47% 2.41% 3.10% 2.28% 2.07% 2.33% 2.23% <-Median-> 10 Dividends
Yield on Cl Pr. 1.94% 2.07% 1.94% 2.20% 1.57% 1.77% 1.27% 1.67% 1.31% 2.37% 1.93% 1.96% 1.86% 1.74% 1.74% 1.85% 1.81% <-Median-> 10 Dividends
Payout Ratio 25.9% 21.5% 22.7% -1241% 17.8% 28.4% 19.9% 29.2% 15.2% 17.7% 22.2% 23.7% 20.0% 18.5% #DIV/0! 21.05% 19.96% <-Median-> 10 DPR EPS
Payout Ratio CF 15.9% 9.3% 8.0% 11.7% 13.5% 22.6% 17.9% 16.4% 9.2% 14.4% 13.6% 14.3% 20.9% #DIV/0! #DIV/0! 13.99% 14.36% <-Median-> 10 DPR CF
Payout Ratio CF NC 8.0% 9.1% 11.3% 12.0% 11.2% 14.2% 12.1% 15.8% 8.8% 10.4% 13.0% 13.7% 20.9% #DIV/0! #DIV/0! 12.06% 12.57% <-Median-> 10 DPR CF NC
Median Values Div Yd 7.04% 10 14.15% 15 Yield  1.95% 1.93% Payout 20.00% 14.35% 15.07% 14.04% <-IRR #YR-> 10 Dividends
* Dividends per share  15.0% Years 15.0% Years Curr diff -10.66% Last Div Inc ---> $0.29 $0.30 3.4% 17.92% 15.06% <-IRR #YR-> 5 Dividends
-$0.32 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $1.19
-$0.59 $0.00 $0.00 $0.00 $0.00 $1.19
H/LYield held 5 yrs 2.70% 2.32% 2.10% 2.06% 2.00% 3.13% 3.85% 4.07% 2.83% 3.91% 4.16% 3.49% 3.17% 3.14% 3.03% 3.33% <-Median-> 10 Dividends
H/LYield held 10 yrs 4.82% 4.14% 3.88% 3.03% 4.28% 6.43% 8.77% 8.21% 6.40% 6.10% 4.55% <-Median-> 8 Dividends
H/LYield held 15 yrs 9.88% 9.45% 7.82% 6.86% 6.67% 9.45% <-Median-> 3 Dividends
H/LYield held 20 yrs #DIV/0! #NUM! <-Median-> 0 Dividends
Graham No. $16.58 $18.85 $20.71 $19.96 $25.29 $24.64 $31.31 $29.02 $40.92 $50.42 $53.56 $58.36 $75.28 $78.68 $0.00 209.58% <-Total Growth 10 Graham Price
Prem /Disc.Med H/L -3.82% -31.04% -29.98% -6.08% -22.21% 0.07% 4.21% 29.19% -6.48% -21.56% -15.93% -8.12% -10.33% -7.30% <-Median-> 10 Graham Price
Prem /Disc. High 5.52% -23.09% -17.91% 12.70% -9.46% 14.92% 27.72% 36.93% -0.90% -6.59% 6.44% -1.91% 2.95% 2.77% <-Median-> 10 Graham Price
Prem /Disc. Low -13.17% -39.00% -42.05% -24.87% -34.96% -14.78% -19.29% 21.46% -12.05% -36.54% -38.29% -14.33% -23.62% -22.08% <-Median-> 10 Graham Price
Prem /Disc. Cl -12.87% -28.39% -20.32% -18.10% -9.46% 14.92% 26.15% 21.46% -1.00% -35.55% -1.06% -0.20% -14.98% -12.32% #DIV/0! -1.03% <-Median-> 10 Graham Price
Price Cl $14.45 $13.50 $16.50 $16.35 $22.90 $28.32 $39.50 $35.25 $40.51 $32.50 $52.99 $58.25 $64.00 $68.99 $68.99 331.48% 287.88% <-Total Growth 10 Stock Price
Increase -18.82% -6.57% 22.22% -0.91% 40.06% 23.67% 39.48% -10.76% 14.92% -19.77% 63.05% 9.93% 9.87% 7.80% 0.00% 15.74% 14.52% <-IRR #YR-> 10 Stock Price
P/E 13.38 10.38 11.70 -563.79 11.34 16.09 15.74 17.45 11.61 7.47 11.47 12.09 10.76 10.61 #DIV/0! 8.08% 12.67% <-IRR #YR-> 5 Stock Price
Trailing P/E 16.61 12.50 12.69 11.60 -789.66 14.02 22.44 14.04 20.05 9.31 12.18 12.61 13.28 11.59 10.61 17.90% 16.62% <-IRR #YR-> 10 Price & Div
Median 5 Yrs D.  per yr 2.10% 2.01% % Tot Ret 12.66% 13.71% Price Inc 9.93% P/E:  11.54 11.47 9.79% 14.68% <-IRR #YR-> 5 Price & Div
-$16.50 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $64.00
-$35.25 $0.00 $0.00 $0.00 $0.00 $64.00
-$16.50 $0.36 $0.36 $0.50 $0.50 $0.59 $0.53 $0.77 $1.03 $1.14 $65.19
-$35.25 $0.53 $0.77 $1.03 $1.14 $65.19
Price H/L Median $15.95 $13.00 $14.50 $18.75 $19.68 $24.66 $32.63 $37.50 $38.27 $39.55 $45.03 $53.63 $67.50 312.50% 365.52% <-Total Growth 10 Stock Price
Increase -11.39% -18.50% 11.54% 29.31% 4.93% 25.34% 32.32% 14.91% 2.07% 3.34% 13.86% 19.09% 25.87% 15.22% 16.63% <-IRR #YR-> 10 Stock Price
P/E 14.77 10.00 10.28 -646.55 9.74 14.01 13.00 18.56 10.97 9.09 9.75 11.13 11.34 10.45% 12.48% <-IRR #YR-> 5 Stock Price
Trailing P/E 18.33 12.04 11.15 13.30 -678.45 12.21 18.54 14.94 18.95 11.33 10.35 11.61 14.00 17.51% 18.84% <-IRR #YR-> 10 Price & Div
Median 5 Yrs D.  per yr 2.21% 1.90% % Tot Ret 11.74% 13.21% Price Inc 13.86% P/E:  11.05 10.97 12.42% 14.38% <-IRR #YR-> 5 Price & Div
-$14.50 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $67.50
-$37.50 $0.00 $0.00 $0.00 $0.00 $67.50
-$14.50 $0.36 $0.36 $0.50 $0.50 $0.59 $0.53 $0.77 $1.03 $1.14 $68.69
-$37.50 $0.53 $0.77 $1.03 $1.14 $68.69
Hi Mths Jan Feb Nov May Dec Dec Oct May Oct Sep Dec Sep Jul Stock Price
Price Hi $17.50 $14.50 $17.00 $22.50 $22.90 $28.32 $39.99 $39.74 $40.55 $47.10 $57.01 $57.25 $77.50 294.83% 355.88% <-Total Growth 10 Stock Price
Increase -11.39% -17.14% 17.24% 32.35% 1.78% 23.67% 41.21% -0.63% 2.04% 16.15% 21.04% 0.42% 35.37% 14.72% 16.38% <-IRR #YR-> 10 Stock Price
P/E 16.20 11.15 12.06 -775.86 11.34 16.09 15.93 19.67 11.62 10.83 12.34 11.88 13.03 7.44% 14.29% <-IRR #YR-> 5 Stock Price
Trailing P/E 20.11 13.43 13.08 15.96 -789.66 14.02 22.72 15.83 20.07 13.50 13.11 12.39 16.08 Stock Price
Median 5 Yrs Price Inc 16.15% P/E:  12.11 11.88 Stock Price
-$17.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $77.50
-$39.74 $0.00 $0.00 $0.00 $0.00 $77.50
Low Mths Dec Oct Jan Oct Feb Feb Feb Dec Jan Nov Mar Jan Jan Stock Price
Price Low $14.40 $11.50 $12.00 $15.00 $16.45 $21.00 $25.27 $35.25 $35.99 $32.00 $33.05 $50.00 $57.50 334.78% 379.17% <-Total Growth 10 Stock Price
Increase -11.38% -20.14% 4.35% 25.00% 9.67% 27.66% 20.33% 39.49% 2.10% -11.09% 3.28% 51.29% 15.00% 15.83% 16.96% <-IRR #YR-> 10 Stock Price
P/E 13.33 8.85 8.51 -517.24 8.14 11.93 10.07 17.45 10.31 7.36 7.15 10.37 9.66 14.62% 10.28% <-IRR #YR-> 5 Stock Price
Trailing P/E 16.55 10.65 9.23 10.64 -567.24 10.40 14.36 14.04 17.82 9.17 7.60 10.82 11.93 Stock Price
Median 5 Yrs Price Inc 3.28% P/E:  9.87 9.66 Stock Price
-$12.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $57.50
Market Cap $96 $90 $110 $110 $155 $193 $269 $237 $270 $216 $350 $382 $421 $454
0.055 0.84%
# of Sh in M 6.674 6.675 6.645 6.725 6.784 6.821 6.814 6.722 6.656 6.644 6.596 6.556 6.583 6.583 6.583 -1.78% <-Total Growth 10 Shares
Increase -0.45% 0.01% -0.45% 1.20% 0.88% 0.55% -0.10% -1.36% -0.98% -0.18% -0.73% -0.60% 0.41% 0.00% 0.00% -0.31% <-Median-> 10 Shares
CF fr Op $M $11.7 $20.2 $26.6 $20.8 $18.1 $15.1 $19.0 $24.2 $38.4 $35.6 $49.6 $52.1 $37.5 157.86% <-Total Growth 10 Cash Flow
OPS $1.76 $3.03 $4.01 $3.09 $2.66 $2.21 $2.79 $3.61 $5.78 $5.36 $7.52 $7.94 $5.69 162.55% <-Total Growth 10 Cash Flow
Increase 25.00% 71.92% 32.37% -22.95% -13.65% -17.04% 26.32% 29.15% 60.13% -7.17% 40.20% 5.69% -28.38% 16.00% <-Median-> 10 Cash Flow
5 yr running ave $2.39 $2.93 $2.97 $2.91 $3.00 $2.95 $2.87 $3.41 $3.95 $5.01 $6.04 $6.46 10.13% <-IRR #YR-> 10 Cash Flow
Non-Cash CF $11.6 $0.3 -$7.9 -$0.6 $3.8 $8.9 $9.1 $0.8 $1.7 $13.4 $2.3 $2.3 $0.0 23.26% <-IRR #YR-> 5 Cash Flow
OPS non-cash $3.50 $3.07 $2.82 $3.00 $3.22 $3.52 $4.13 $3.73 $6.04 $7.38 $7.87 $8.30 $5.69 10.44% <-IRR #YR-> 10 CF - non cash
P/OCF on Close 4.13 4.39 5.84 5.45 7.11 8.05 9.56 9.46 6.71 4.40 6.74 7.02 11.25 14.97% <-IRR #YR-> 5 CF - non cash
*Operational Cash Flow per share P/CF 10 yr 6.88 5 yr  6.74
-$3.03 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $7.94
-$2.79 $0.00 $0.00 $0.00 $0.00 $7.94
-$3.07 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $8.30
-$4.13 $0.00 $0.00 $0.00 $0.00 $8.30
OPM 5.74% 8.55% 12.79% 9.06% 7.30% 5.76% 5.90% 6.86% 9.59% 7.05% 9.46% 9.71% 4.89% should be zero, it is a check on calculations
Diff from Ave -29.8% 4.5% 56.3% 10.7% -10.7% -29.6% -27.9% -16.1% 17.2% -13.8% 15.6% 18.7% -40.2% 0.00 <-Median-> 10 OPM
*Operational Profit Margin (CF/Revenue) Ratio OPM 10 Yrs 8.18% 5 Yrs 9.46%
Q3 2011
Curr Assets $79.15 $91.14 $91.63 $92.25 $81.82 $89.96 $107.39 $116.95 $136.52 $156.45 $177.79 $203.74 $261.22 Liq ratio of 1.5 and up, best Assets
Curr Liab. $45.47 $51.40 $45.48 $59.26 $36.88 $44.69 $44.39 $58.23 $78.77 $76.18 $68.12 $70.51 $129.79 2.03 <-Median-> 10 Liabilities
Liquidity 1.74 1.77 2.01 1.56 2.22 2.01 2.42 2.01 1.73 2.05 2.61 2.89 2.01 2.05 <-Median-> 5 Ratio
Assets $148.92 $158.08 $167.36 $175.33 $159.78 $196.60 $209.52 $224.76 $285.48 $314.01 $345.22 $375.05 $786.16 A/L ratio of 1.5 and up, best Assets
Liab. $73.37 $76.97 $77.54 $90.84 $64.30 $92.00 $91.22 $100.19 $143.56 $141.42 $163.20 $169.13 $507.51 2.19 <-Median-> 10 Liabilities
Liquidity 2.03 2.05 2.16 1.93 2.48 2.14 2.30 2.24 1.99 2.22 2.12 2.22 1.55 2.22 <-Median-> 5 Ratio
Book Value $75.54 $81.11 $89.82 $84.49 $95.48 $104.60 $118.30 $124.57 $141.93 $172.59 $182.02 $205.92 $278.65 153.88% <-Total Growth 10 Book Value
BV per share $11.32 $12.15 $13.52 $12.56 $14.07 $15.33 $17.36 $18.53 $21.32 $25.98 $27.60 $31.41 $42.33 $42.33 $42.33 158.49% <-Total Growth 10 Book Value
Change 6.95% 7.36% 11.24% -7.06% 12.03% 8.96% 13.20% 6.76% 15.06% 21.82% 6.23% 13.82% 34.77% 0.8842 Current/Historical Book Value
P/BV (CL) 1.28 1.11 1.22 1.30 1.63 1.85 2.28 1.90 1.90 1.25 1.92 1.85 1.51 9.96% <-IRR #YR-> 10 Book Value
Change -24.09% -12.98% 9.87% 6.61% 25.02% 13.50% 23.21% -16.41% -0.12% -34.14% 53.48% -3.42% -18.47% 12.59% <-IRR #YR-> 5 Book Value
Leverage (A/BK) 1.97 1.95 1.86 2.08 1.67 1.88 1.77 1.80 2.01 1.82 1.90 1.82 2.82 1.84 <-Median-> 10 A/BV
Debt/Equity Ratio 0.97 0.95 0.86 1.08 0.67 0.88 0.77 0.80 1.01 0.82 0.90 0.82 1.82 0.84 <-Median-> 10 Debt/Eq Ratio
Sharerholders Equity (Assets less liabilities) P/BV 10 Yrs 1.71 5 Yrs 1.77
-$12.15 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $31.41
-$17.36 $0.00 $0.00 $0.00 $0.00 $31.41
ROE 16.1% 21.4% 10.5% 15.9% 17.0% <-12 mths 16.02% <-Median-> 4 Compreh. Inc
Comprehensive Inc $22.85 $36.94 $19.04 $32.84 $47.28 <-12 mths Compreh. Inc
ROE 9.6% 10.8% 10.4% -2.3% 14.3% 11.5% 14.5% 11.0% 16.4% 16.8% 16.8% 15.4% 11.6% <-12 mths Net Income/Shareholders' equity
5Yr Median 10.4% 9.6% 10.4% 10.8% 11.5% 11.5% 14.3% 14.5% 16.4% 16.4% 16.4% <-12 mths
Net Income $7.22 $8.73 $9.36 -$1.91 $13.63 $11.99 $17.10 $13.75 $23.33 $29.06 $30.60 $31.76 $32.38 <-12 mths 263.81% <-Total Growth 10 Net Income
Oper C. F. $11.75 $20.20 $26.62 $20.75 $18.08 $15.08 $19.03 $24.24 $38.44 $35.62 $49.58 $52.09 C F Statement  Oper C. F.
Invest. C. F -$14.25 -$7.39 -$17.43 -$18.80 -$11.23 -$36.98 $12.24 -$17.10 -$60.46 -$30.50 -$25.53 -$21.17 C F Statement  Invest. C. F
Total Accruals $9.72 -$4.08 $0.17 -$3.86 $6.78 $33.89 -$14.17 $6.60 $45.35 $23.94 $6.55 $0.85 Accruals
Total Assets $148.92 $158.08 $167.36 $175.33 $159.78 $196.60 $209.52 $224.76 $285.48 $314.01 $345.22 $375.05 Balance Sheet Assets
Accruals Ratio 6.53% -2.58% 0.10% -2.20% 4.24% 17.24% -6.76% 2.94% 15.89% 7.62% 1.90% 0.23% Ratio
up/down/neutral
Chge in Close -18.82% -6.57% 22.22% -0.91% 40.06% 23.67% 39.48% -10.76% 14.92% -19.77% 63.05% 9.93%
Any Predictions?
Fin. C. F $0.56 -$6.17 -$9.83 -$0.14 -$5.30 $16.84 -$4.88 -$5.70 $19.49 $3.43 -$0.84 -$10.49 C F Statement  Fin. C. F
Total Accruals $9.16 $2.09 $10.00 -$3.72 $12.07 $17.06 -$9.29 $12.30 $25.86 $20.51 $7.39 $11.33 Accruals
Accruals Ratio 6.15% 1.32% 5.98% -2.12% 7.55% 8.68% -4.43% 5.47% 9.06% 6.53% 2.14% 3.02% Ratio
Jan 22, 2012.  Last Estimates I got were for 2010 and 2011 for EPS of $4.50 and $4.76 and CF of ($5.34 and 5.69.
Oct 2, 2010.  The last time I looked at this stock in February 2010, I got estimates for 2009 and 2010 of $4.35 and $4.32 for earnings and $5.23 and $5.34 for CF.
Feb 2010.  I read a favourable review of this stock and decided to investigate further.
How they make their money.
Lassonde Industries Inc. is a leading manufacturer of pure fruit juices and fruit drinks in Canada, and the largest manufacturer and distributor of apple juice in Eastern Canada. Through its subsidiaries, Lassonde 
is active in the processing, packaging and marketing of food products such as pure fruit juices, fruit and citrus drinks, the canning of corn on the cob for foreign markets as well as dipping sauces, fondue bouillon,
meat marinades, barbecue sauces and baked beans. The Company also markets its know-how in Canada and abroad.
Consumer products stock.
Pierre-Paul Lassonde is CEO and Guy Blanchette is CFO.
Chairman of the Board, President and Chief Executive Officer; Chief Financial Officer, Vice President - Finance
Lassonde, Pierre-Paul 3.753 56.48%
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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