| 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. |
|
|
|
| See
my website on stocks or see my blog at the following sites. |
www.spbrunner.com/stocks.html |
www.spbrunner.blogspot.com/ |
|
|
|
|
|
|
|
|
|
|
| The North West
Company |
|
www.northwest.ca |
|
NWF |
|
Fiscal Yr: |
Dec 31 |
|
|
10/31/10 |
|
|
|
|
|
|
|
|
|
| Year |
1/31/99 |
1/31/00 |
1/31/01 |
1/31/02 |
1/31/03 |
1/31/04 |
1/31/05 |
1/31/06 |
1/31/07 |
1/31/08 |
1/31/09 |
1/31/10 |
1/31/11 |
1/31/12 |
1/30/13 |
|
|
|
|
#Y |
|
|
| split |
|
|
|
|
|
|
|
3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Revenue* |
$629.1 |
$626.5 |
$659.0 |
$704.4 |
$749.8 |
$782.7 |
$788.7 |
$849.7 |
$944.9 |
$1,064.5 |
$1,392.6 |
$1,444.4 |
$1,444.1 |
<-12 mths |
|
|
130.56% |
<-Total Growth |
|
10 |
Revenue |
|
| Increase |
2.01% |
-0.42% |
5.20% |
6.88% |
6.44% |
4.40% |
0.76% |
7.73% |
11.21% |
12.65% |
30.83% |
3.71% |
-0.02% |
<-12 mths |
|
|
8.71% |
<-IRR #YR-> |
|
10 |
Revenue |
|
| Rev per Share |
$13.98 |
$13.92 |
$14.95 |
$14.56 |
$15.67 |
$16.18 |
$16.30 |
$17.56 |
$19.53 |
$22.00 |
$28.79 |
$29.86 |
$29.85 |
<-12 mths |
|
|
12.86% |
<-IRR #YR-> |
|
5 |
Revenue |
|
| P/S (Price/Sales) |
0.31 |
0.29 |
0.29 |
0.39 |
0.44 |
0.49 |
0.63 |
0.71 |
0.84 |
0.84 |
0.56 |
0.60 |
0.71 |
<-12 mths |
|
|
7.93% |
<-IRR #YR-> |
|
10 |
Rev Per share |
|
| Averages |
|
|
|
|
|
|
|
P/S |
10 Yrs |
0.58 |
5Yrs |
0.71 |
|
|
|
|
12.86% |
<-IRR #YR-> |
|
5 |
Rev Per share |
|
| *Revenue in M CDN $ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
-$626.5 |
$0.0 |
$0.0 |
$0.0 |
$0.0 |
$0.0 |
$0.0 |
$0.0 |
$0.0 |
$0.0 |
$1,444.4 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
-$788.7 |
$0.0 |
$0.0 |
$0.0 |
$0.0 |
$1,444.4 |
|
|
|
|
|
|
|
|
|
|
| |
|
-$13.9 |
$0.0 |
$0.0 |
$0.0 |
$0.0 |
$0.0 |
$0.0 |
$0.0 |
$0.0 |
$0.0 |
$29.9 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
-$16.3 |
$0.0 |
$0.0 |
$0.0 |
$0.0 |
$29.9 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Pre-split 2006 |
$1.08 |
$1.86 |
$1.89 |
$1.95 |
$2.14 |
$2.22 |
$2.32 |
$0.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| EPS* |
$0.36 |
$0.62 |
$0.63 |
$0.65 |
$0.71 |
$0.74 |
$0.77 |
$0.89 |
$1.12 |
$1.31 |
$1.56 |
$1.69 |
$1.65 |
$1.36 |
$1.53 |
|
172.58% |
<-Total Growth |
|
10 |
Earnings |
|
| Increase |
-22.86% |
72.22% |
1.61% |
3.17% |
9.74% |
3.74% |
4.50% |
15.09% |
25.84% |
16.96% |
19.08% |
8.33% |
-2.37% |
-17.58% |
12.50% |
|
10.55% |
<-IRR #YR-> |
|
10 |
Earnings |
|
| * ESP per
share (Cdn GAAP) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
16.92% |
<-IRR #YR-> |
|
5 |
Earnings |
|
| |
|
-$0.62 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$1.69 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
-$0.77 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$1.69 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| pre-split Sp Div |
$0.25 |
$0.24 |
$0.24 |
$0.00 |
$0.06 |
$0.34 |
$0.00 |
$0.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| pre-split Div |
$1.00 |
$1.20 |
$1.20 |
$1.46 |
$1.50 |
$1.56 |
$1.80 |
$1.88 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Sp Div |
$0.08 |
$0.08 |
$0.08 |
$0.00 |
$0.02 |
$0.11 |
$0.00 |
$0.00 |
$0.10 |
$0.12 |
$0.07 |
$0.00 |
$0.00 |
$0.00 |
|
|
|
|
|
|
|
Sp Div |
| Div* |
$0.33 |
$0.40 |
$0.40 |
$0.49 |
$0.50 |
$0.52 |
$0.60 |
$0.63 |
$0.80 |
$1.03 |
$1.28 |
$1.32 |
$1.36 |
$1.36 |
|
|
|
240.00% |
<-Total Growth |
10 |
Div only |
|
| Increase |
153.16% |
20.00% |
0.00% |
21.25% |
3.09% |
4.00% |
15.38% |
4.44% |
27.66% |
28.75% |
24.27% |
3.13% |
3.03% |
0.00% |
|
|
|
13.50% |
<-Average |
10 |
Div only |
|
| Yield H/L |
8.92% |
10.59% |
12.63% |
9.62% |
8.21% |
8.19% |
6.70% |
5.77% |
6.18% |
6.11% |
8.18% |
7.67% |
6.79% |
#DIV/0! |
|
|
|
7.34% |
<-Average |
10 |
Div + Sp Div |
|
| Yield on Low |
10.60% |
12.80% |
14.69% |
11.41% |
9.20% |
9.10% |
7.79% |
7.06% |
8.46% |
7.67% |
10.38% |
8.77% |
7.74% |
#DIV/0! |
|
|
|
8.76% |
<-Average |
10 |
Div + Sp Div |
|
| Yield on Cl |
9.54% |
12.00% |
11.08% |
8.46% |
7.54% |
8.04% |
5.87% |
5.01% |
5.48% |
6.25% |
8.36% |
7.36% |
6.45% |
6.37% |
|
|
|
6.88% |
<-Average |
10 |
Div + Sp Div |
|
| Payout Ratio |
115.7% |
77.4% |
76.2% |
74.6% |
72.9% |
85.6% |
77.6% |
70.4% |
80.4% |
87.9% |
86.5% |
78.1% |
82.4% |
100.0% |
|
|
|
79.64% |
<-Average |
10 |
Div + Sp Div |
|
| Payout Ratio CF |
32.0% |
57.6% |
59.2% |
48.1% |
41.9% |
45.9% |
59.3% |
40.3% |
53.4% |
59.5% |
72.4% |
59.1% |
68.7% |
63.3% |
|
|
|
54.87% |
<-Average |
10 |
Div + Sp Div |
|
| Average 5 Yrs |
Div Yd |
8.13% |
in 5 yrs |
10.38% |
in 10 yrs |
Yield |
H/L: L |
6.78% |
8.47% |
Payout |
80.66% |
56.96% |
|
|
|
|
|
13.02% |
<-IRR #YR-> |
10 |
Div only |
|
| * Dividends per share |
5.00% |
5 |
5.00% |
10 |
|
|
|
|
|
|
|
|
|
|
|
|
16.76% |
<-IRR #YR-> |
5 |
Div only |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
-$0.40 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$1.36 |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
-$0.63 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$1.36 |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| H/LYield held
5 yrs |
|
|
|
|
11.13% |
13.24% |
16.49% |
15.87% |
16.27% |
16.56% |
14.73% |
12.53% |
9.33% |
|
|
Ave H/L |
Yield on your |
|
|
Div only |
|
| H/LYield held
10 yrs |
|
|
|
|
|
|
|
|
|
27.41% |
29.12% |
35.79% |
26.98% |
|
|
Ave H/L |
original money |
|
|
Div only |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Graham No. |
$5.44 |
$7.26 |
$7.84 |
$8.15 |
$8.58 |
$8.87 |
$9.22 |
$10.02 |
$11.46 |
$12.50 |
$14.11 |
$15.10 |
$15.33 |
$13.92 |
|
|
Cl Pr higher/lower by? |
|
|
|
|
| Prem /Disc. High |
-0.46% |
-26.74% |
-44.71% |
-28.39% |
-18.29% |
-4.15% |
10.86% |
28.04% |
61.49% |
81.50% |
41.67% |
28.18% |
|
|
|
|
15.62% |
<-Average |
|
10 |
Graham Price |
|
| Prem /Disc. Ave |
-14.08% |
-37.54% |
-51.51% |
-38.11% |
-26.21% |
-12.85% |
-2.81% |
8.33% |
27.19% |
50.81% |
16.90% |
13.94% |
|
|
|
|
-1.43% |
<-Average |
|
10 |
Graham Price |
|
| Prem /Disc. Low |
-27.69% |
-48.33% |
-58.32% |
-47.83% |
-34.14% |
-21.55% |
-16.47% |
-11.38% |
-7.12% |
20.12% |
-7.87% |
-0.30% |
|
|
|
|
-18.49% |
<-Average |
|
10 |
Graham Price |
|
| Prem /Disc. Cl |
-19.66% |
-44.88% |
-44.71% |
-29.62% |
-19.57% |
-11.17% |
10.83% |
24.75% |
43.25% |
47.40% |
14.39% |
18.84% |
37.60% |
53.36% |
|
|
5.44% |
<-Average |
|
10 |
Graham Price |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| pre-split '06 |
$13.10 |
$12.00 |
$13.00 |
$17.20 |
$20.70 |
$23.63 |
$30.65 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Price Cl |
$4.37 |
$4.00 |
$4.33 |
$5.73 |
$6.90 |
$7.88 |
$10.22 |
$12.50 |
$16.41 |
$18.42 |
$16.14 |
$17.94 |
$21.09 |
$21.34 |
|
|
|
386.69% |
<-Total Growth |
10 |
Stock Price |
|
| Increase |
-7.09% |
-8.40% |
8.33% |
32.31% |
20.35% |
14.15% |
29.71% |
22.35% |
31.28% |
12.25% |
-12.38% |
11.15% |
17.56% |
1.19% |
|
|
|
17.15% |
<-IRR #YR-> |
10 |
Stock Price |
|
| P/E |
12.13 |
6.45 |
6.88 |
8.82 |
9.67 |
10.64 |
13.21 |
14.04 |
14.65 |
14.06 |
10.35 |
10.62 |
12.78 |
15.69 |
|
|
|
11.03% |
<-IRR #YR-> |
5 |
Stock Price |
|
| Trailing P/E |
9.36 |
11.11 |
6.99 |
9.10 |
10.62 |
11.04 |
13.81 |
16.16 |
18.44 |
16.45 |
12.32 |
11.50 |
12.48 |
12.93 |
|
|
|
26.75% |
<-IRR #YR-> |
10 |
Price & Div |
|
| Median 5 Yrs |
|
|
|
7.83% |
9.61% |
Div % |
5, 10 yrs |
|
Price Inc |
12.25% |
P/E: Y-T |
12.78 |
12.48 |
|
|
|
|
18.86% |
<-IRR #YR-> |
5 |
Price & Div |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
-$4.33 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$21.09 |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
-$12.50 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$21.09 |
|
|
|
|
|
|
|
|
|
| |
|
|
-$4.33 |
$0.49 |
$0.52 |
$0.63 |
$0.60 |
$0.63 |
$0.90 |
$1.15 |
$1.35 |
$1.32 |
$22.45 |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
-$12.50 |
$0.90 |
$1.15 |
$1.35 |
$1.32 |
$22.45 |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Price Average H/L |
$4.67 |
$4.53 |
$3.80 |
$5.04 |
$6.33 |
$7.73 |
$8.96 |
$10.86 |
$14.57 |
$18.85 |
$16.50 |
$17.20 |
$20.03 |
|
|
|
|
426.97% |
<-Total Growth |
10 |
Stock Price |
|
| Increase |
#DIV/0! |
-2.93% |
-16.18% |
32.68% |
25.55% |
22.09% |
15.94% |
21.15% |
34.22% |
29.34% |
-12.47% |
4.27% |
16.42% |
|
|
|
|
18.08% |
<-IRR #YR-> |
10 |
Stock Price |
|
| P/E |
12.97 |
7.31 |
6.03 |
7.76 |
8.87 |
10.44 |
11.59 |
12.20 |
13.01 |
14.39 |
10.57 |
10.18 |
12.14 |
|
|
|
|
13.03% |
<-IRR #YR-> |
5 |
Stock Price |
|
| Trailing P/E |
10.01 |
12.59 |
6.13 |
8.00 |
9.74 |
10.83 |
12.11 |
14.04 |
16.37 |
16.83 |
12.59 |
11.03 |
11.85 |
|
|
|
|
28.75% |
<-IRR #YR-> |
10 |
Price & Div |
|
| Median 5 Yrs |
|
|
|
8.73% |
10.67% |
Div % |
5, 10 yrs |
|
Price Inc |
16.42% |
P/E: Y-T |
12.14 |
12.59 |
|
|
|
|
21.76% |
<-IRR #YR-> |
5 |
Price & Div |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
-$3.80 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$20.03 |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
-$10.86 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$20.03 |
|
|
|
|
|
|
|
|
|
| |
|
|
-$3.80 |
$0.49 |
$0.52 |
$0.63 |
$0.60 |
$0.63 |
$0.90 |
$1.15 |
$1.35 |
$1.32 |
$21.39 |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
-$10.86 |
$0.90 |
$1.15 |
$1.35 |
$1.32 |
$21.39 |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Hi Mths |
May 98 |
Jan 99 |
Jan 01 |
Jan 02 |
Jan 03 |
Dec 03 |
Jan 05 |
Dec 05 |
Sep 06 |
Nov 07 |
Apr 08 |
Dec 09 |
Nov 10 |
|
|
|
|
|
|
|
|
|
| pre-split '06 |
|
$15.95 |
$13.00 |
$17.50 |
$21.03 |
$25.50 |
$31.74 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Price Hi |
$5.41 |
$5.32 |
$4.33 |
$5.83 |
$7.01 |
$8.50 |
$10.22 |
$12.83 |
$18.50 |
$22.68 |
$19.99 |
$19.35 |
$22.48 |
|
|
|
|
418.77% |
<-Total Growth |
10 |
Stock Price |
|
| Increase |
|
-1.73% |
-18.50% |
34.62% |
20.17% |
21.26% |
20.24% |
25.54% |
44.19% |
22.59% |
-11.86% |
-3.20% |
16.18% |
|
|
|
|
17.90% |
<-IRR #YR-> |
10 |
Stock Price |
|
| P/E |
15.03 |
8.58 |
6.88 |
8.97 |
9.83 |
11.49 |
13.22 |
14.42 |
16.52 |
17.31 |
12.81 |
11.45 |
13.62 |
|
|
|
|
11.87% |
<-IRR #YR-> |
5 |
Stock Price |
|
| Trailing P/E |
11.59 |
14.77 |
6.99 |
9.26 |
10.78 |
11.92 |
13.81 |
16.59 |
20.79 |
20.25 |
15.26 |
12.40 |
13.30 |
|
|
|
|
|
|
|
|
|
| Median 5 Yrs |
|
|
|
|
|
|
|
|
Price Inc |
16.18% |
P/E: Y-T |
13.62 |
15.26 |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
-$4.33 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$22.48 |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
-$12.83 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$22.48 |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Low Mths |
Aug 98 |
Jan 00 |
Oct 00 |
Feb 01 |
Feb 02 |
Mar 03 |
May 04 |
Nov 05 |
Feb 06 |
Mar 07 |
Oct 08 |
Jun 09 |
May 10 |
|
|
|
|
|
|
|
|
|
| pre-split '06 |
|
$11.25 |
$9.80 |
$12.75 |
$16.95 |
$20.87 |
$23.10 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Price Low |
$3.93 |
$3.75 |
$3.27 |
$4.25 |
$5.65 |
$6.96 |
$7.70 |
$8.88 |
$10.64 |
$15.01 |
$13.00 |
$15.05 |
$17.57 |
|
|
|
|
437.86% |
<-Total Growth |
10 |
Stock Price |
|
| Increase |
|
-4.58% |
-12.89% |
30.10% |
32.94% |
23.13% |
10.69% |
15.32% |
19.82% |
41.07% |
-13.39% |
15.77% |
16.74% |
|
|
|
|
18.32% |
<-IRR #YR-> |
10 |
Stock Price |
|
| P/E |
10.92 |
6.05 |
5.19 |
6.54 |
7.92 |
9.40 |
9.96 |
9.98 |
9.50 |
11.46 |
8.33 |
8.91 |
10.65 |
|
|
|
|
14.62% |
<-IRR #YR-> |
5 |
Stock Price |
|
| Trailing P/E |
8.42 |
10.42 |
5.27 |
6.75 |
8.69 |
9.75 |
10.41 |
11.48 |
11.96 |
13.40 |
9.92 |
9.65 |
10.40 |
|
|
|
|
|
|
|
|
|
| Median 5 Yrs |
|
|
|
|
|
|
|
|
Price Inc |
16.74% |
P/E: Y-T |
9.50 |
10.40 |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
-$3.27 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$17.57 |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
-$8.88 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$17.57 |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Market Cap |
$197 |
$180 |
$191 |
$277 |
$330 |
$381 |
$494 |
$605 |
$794 |
$891 |
$781 |
$868 |
$1,020 |
$1,032 |
|
|
|
|
|
|
Market Cap |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Pre-split 2006 |
15.00 |
15.00 |
14.69 |
16.13 |
15.95 |
16.13 |
16.13 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| # of Sh in M |
45.00 |
45.00 |
44.07 |
48.38 |
47.84 |
48.38 |
48.38 |
48.38 |
48.38 |
48.38 |
48.38 |
48.38 |
48.38 |
48.38 |
|
|
Capital |
|
|
|
Shares |
|
| Increase |
0.00% |
0.00% |
-2.06% |
9.77% |
-1.11% |
1.12% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
|
|
0.77% |
<-Average |
|
10 |
Shares |
|
| CF fr Op $M |
58.6 |
37.5 |
35.7 |
48.8 |
59.4 |
66.8 |
48.9 |
75.3 |
81.5 |
93.6 |
90.2 |
108.0 |
$95.79 |
$104.01 |
|
|
187.87% |
<-Total Growth |
|
10 |
Cash Flow |
|
| OPS |
$1.30 |
$0.83 |
$0.81 |
$1.01 |
$1.24 |
$1.38 |
$1.01 |
$1.56 |
$1.68 |
$1.93 |
$1.86 |
$2.23 |
$1.98 |
$2.15 |
|
|
167.77% |
<-Total Growth |
|
10 |
Cash Flow |
|
| Increase |
174.80% |
-35.97% |
-2.75% |
24.33% |
23.11% |
11.26% |
-26.74% |
53.89% |
8.23% |
14.86% |
-3.65% |
19.73% |
-11.28% |
8.59% |
|
|
12.23% |
<-Average |
|
10 |
Cash Flow |
|
| Non-Cash
CF |
-$7.54 |
$7.35 |
$12.06 |
$7.02 |
-$0.18 |
$7.75 |
$13.70 |
-$9.86 |
-$3.84 |
-$0.74 |
$17.54 |
$6.68 |
$0.00 |
$0.00 |
|
|
10.35% |
<-IRR #YR-> |
|
10 |
Cash Flow |
|
| OPS non-cash |
$1.13 |
$1.00 |
$1.08 |
$1.15 |
$1.24 |
$1.54 |
$1.29 |
$1.35 |
$1.60 |
$1.92 |
$2.23 |
$2.37 |
$1.98 |
$2.15 |
|
|
17.15% |
<-IRR #YR-> |
|
5 |
Cash Flow |
|
| Increase |
43% |
-12% |
9% |
6% |
7% |
25% |
-16% |
4% |
19% |
20% |
16% |
6% |
-16% |
9% |
|
|
9.05% |
<-IRR #YR-> |
|
10 |
CF - non-cash |
|
| P/CF on Cl |
3.9 |
4.01 |
4.00 |
4.97 |
5.58 |
5.11 |
7.89 |
9.24 |
10.22 |
9.60 |
7.25 |
7.57 |
10.65 |
9.93 |
|
|
12.86% |
<-IRR #YR-> |
|
5 |
CF - non-cash |
|
| Averages |
|
|
|
|
|
|
|
P/CF |
10 Yrs |
7.14 |
5 Yrs |
8.78 |
|
|
|
|
|
|
|
|
|
|
| *Operational
Cash Flow per share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-$0.83 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$2.23 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-$1.01 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$2.23 |
|
|
|
|
|
|
|
|
|
|
|
|
-$1.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$2.37 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-$1.29 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$2.37 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| OPM |
9.31% |
5.99% |
5.42% |
6.92% |
7.92% |
8.53% |
6.20% |
8.86% |
8.62% |
8.79% |
6.48% |
7.48% |
|
|
|
|
should be zero, it is a check
on calculations |
|
|
|
|
|
| Diff from Ave |
23.8% |
-20.4% |
-27.9% |
-8.0% |
5.3% |
13.4% |
-17.5% |
17.8% |
14.6% |
16.9% |
-13.9% |
-0.6% |
|
|
|
|
0.00% |
<-Average |
|
10 |
|
|
| *Operational
Profit Margin (CF/Revenue) Ratio |
|
|
|
|
OPM |
10 Yrs |
7.52% |
5 Yrs |
8.05% |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Q3 2011 |
|
|
|
|
|
|
|
|
|
| Curr Assets |
$182.93 |
$176.16 |
$192.25 |
$219.96 |
$209.90 |
$196.83 |
$207.64 |
$218.74 |
$226.16 |
$254.06 |
$285.09 |
$285.84 |
$306.78 |
|
|
|
Liq ratio of 1.5 and up, best |
|
|
Assets |
|
| Curr Liab. |
$88.80 |
$92.49 |
$100.89 |
$204.02 |
$92.00 |
$83.14 |
$87.44 |
$95.47 |
$122.78 |
$134.90 |
$175.30 |
$171.95 |
$162.68 |
|
|
|
1.93 |
<-Average |
|
10 |
Liabilities |
|
| Liquidity |
2.06 |
1.90 |
1.91 |
1.08 |
2.28 |
2.37 |
2.37 |
2.29 |
1.84 |
1.88 |
1.63 |
1.66 |
1.89 |
|
|
|
1.86 |
<-Average |
|
5 |
Ratio |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Assets |
$393.28 |
$387.54 |
$415.97 |
$433.18 |
$418.19 |
$409.60 |
$413.64 |
$423.85 |
$441.87 |
$529.67 |
$609.17 |
$623.80 |
$639.62 |
|
|
|
A/L ratio of 1.5 and up, best |
|
|
Assets |
|
| Liab. |
$229.16 |
$217.63 |
$224.99 |
$213.65 |
$198.81 |
$181.12 |
$177.35 |
$181.28 |
$189.94 |
$273.37 |
$334.76 |
$333.87 |
$333.49 |
|
|
|
2.09 |
<-Average |
|
10 |
Liabilities |
|
| Liquidity |
1.72 |
1.78 |
1.85 |
2.03 |
2.10 |
2.26 |
2.33 |
2.34 |
2.33 |
1.94 |
1.82 |
1.87 |
1.92 |
|
|
|
2.06 |
<-Average |
|
5 |
Ratio |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Book Value |
$164.1 |
$169.9 |
$191.0 |
$219.5 |
$219.4 |
$228.5 |
$236.3 |
$242.6 |
$251.9 |
$256.3 |
$274.4 |
$289.9 |
$306.1 |
|
|
|
70.64% |
<-Total Growth |
|
10 |
Book Value |
|
| BV per share |
$3.65 |
$3.78 |
$4.33 |
$4.54 |
$4.59 |
$4.72 |
$4.88 |
$5.01 |
$5.21 |
$5.30 |
$5.67 |
$5.99 |
$6.33 |
$6.33 |
|
|
58.73% |
<-Total Growth |
|
10 |
Book Value |
|
| Change |
2.47% |
3.53% |
14.76% |
4.72% |
1.05% |
2.99% |
3.42% |
2.66% |
3.86% |
1.74% |
7.07% |
5.65% |
5.59% |
0.00% |
|
|
1.4996 |
Current/Historical |
|
Book Value |
|
| P/BV (CL) |
1.20 |
1.06 |
1.00 |
1.26 |
1.50 |
1.67 |
2.09 |
2.49 |
3.15 |
3.48 |
2.85 |
2.99 |
3.33 |
3.37 |
|
|
4.73% |
<-IRR #YR-> |
|
10 |
Book Value |
|
| Change |
-9.33% |
-11.52% |
-5.60% |
26.34% |
19.09% |
10.84% |
25.42% |
19.18% |
26.40% |
10.33% |
-18.16% |
5.20% |
11.33% |
1.19% |
|
|
4.18% |
<-IRR #YR-> |
|
5 |
Book Value |
|
| Leverage (A/BK) |
2.40 |
2.28 |
2.18 |
1.97 |
1.91 |
1.79 |
1.75 |
1.75 |
1.75 |
2.07 |
2.22 |
2.15 |
2.09 |
#DIV/0! |
|
|
1.95 |
<-Average |
|
10 |
A/BV |
|
| Averages |
|
|
|
|
|
|
|
P/BV |
10 Yrs |
2.25 |
5 Yrs |
2.99 |
|
|
|
|
1.99 |
<-Average |
|
5 |
A/BV |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-$3.78 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$5.99 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
-$4.88 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$5.99 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ROE |
9.8% |
16.5% |
14.7% |
13.2% |
15.7% |
15.6% |
15.8% |
17.7% |
21.3% |
24.6% |
27.5% |
28.2% |
26.0% |
<-12 mths |
|
|
Net Income/Shareholders'
equity |
|
|
|
|
|
| 5Yr Running Ave |
|
|
|
#REF! |
14.1% |
15.1% |
15.0% |
15.6% |
17.3% |
19.1% |
21.6% |
24.1% |
25.6% |
<-12 mths |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Income |
$16.15 |
$27.96 |
$28.13 |
$29.02 |
$34.47 |
$35.73 |
$37.27 |
$42.89 |
$53.66 |
$62.99 |
$75.38 |
$81.81 |
$79.55 |
<-12 mths |
|
|
192.64% |
<-Total Growth |
|
10 |
|
|
| Oper C. F. |
$58.57 |
$37.51 |
$35.73 |
$48.76 |
$59.36 |
$66.78 |
$48.93 |
$75.29 |
$81.49 |
$93.59 |
$90.18 |
$107.97 |
$94.89 |
<-12 mths |
|
|
|
Cash Flow
Statement |
|
|
|
| Invest. C. F |
-$16.75 |
-$20.67 |
-$16.26 |
-$19.92 |
-$18.18 |
-$30.20 |
-$21.63 |
-$23.90 |
-$35.48 |
-$98.12 |
-$49.44 |
-$59.37 |
-$34.73 |
<-12 mths |
|
|
|
Cash Flow Statement |
|
|
|
| Total Accruals |
-$25.67 |
$11.12 |
$8.67 |
$0.17 |
-$6.71 |
-$0.85 |
$9.97 |
-$8.50 |
$7.65 |
$67.52 |
$34.64 |
$33.21 |
$19.39 |
<-12 mths |
|
|
|
|
|
|
|
|
| Total Assets |
$393.28 |
$387.54 |
$415.97 |
$433.18 |
$418.19 |
$409.60 |
$413.64 |
$423.85 |
$441.87 |
$529.67 |
$609.17 |
$623.80 |
$319.81 |
<-12 mths |
|
|
|
Balance Sheet |
|
|
|
|
| Accruals Ratio |
-6.53% |
2.87% |
2.09% |
0.04% |
-1.60% |
-0.21% |
2.41% |
-2.01% |
1.73% |
12.75% |
5.69% |
5.32% |
6.06% |
<-12 mths |
|
|
|
|
|
|
|
|
| up/down/neutral |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Chge in Close |
-7.09% |
-8.40% |
8.33% |
32.31% |
20.35% |
14.15% |
29.71% |
22.35% |
31.28% |
12.25% |
-12.38% |
11.15% |
17.56% |
|
|
|
|
|
|
|
|
|
| Any Predictions? |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Fin. C. F |
$3.17 |
$3.29 |
$0.42 |
$27.45 |
-$40.70 |
-$30.40 |
-$32.49 |
-$40.85 |
-$45.50 |
$1.12 |
-$36.75 |
-$47.05 |
-$67.30 |
<-12 mths |
|
|
|
|
|
|
|
|
| Total Accruals |
-$28.84 |
$7.84 |
$8.25 |
-$27.28 |
$33.99 |
$29.55 |
$42.45 |
$32.35 |
$53.15 |
$66.40 |
$71.38 |
$80.27 |
$86.70 |
<-12 mths |
|
|
|
|
|
|
|
|
| Accruals Ratio |
-7.33% |
2.02% |
1.98% |
-6.30% |
8.13% |
7.22% |
10.26% |
7.63% |
12.03% |
12.54% |
11.72% |
12.87% |
27.11% |
<-12 mths |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Taxes |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dividend |
20% |
0% |
0% |
2% |
0% |
0% |
13% |
17% |
19% |
0% |
0% |
0% |
|
|
|
|
4.62% |
<-Average |
|
11 |
|
|
| Cap Gain |
0% |
0% |
0% |
0% |
0% |
0% |
0% |
0% |
0% |
0% |
0% |
0% |
|
|
|
|
0.00% |
<-Average |
|
11 |
|
|
| Taxable Inc |
80% |
100% |
100% |
98% |
100% |
100% |
87% |
83% |
81% |
100% |
100% |
100% |
|
|
|
|
95.37% |
<-Average |
|
11 |
|
|
| Ret of Cap. |
0% |
0% |
0% |
0% |
0% |
0% |
0% |
0% |
0% |
0% |
0% |
0% |
|
|
|
|
0.01% |
<-Average |
|
11 |
|
|
| Total |
100% |
100% |
100% |
100% |
100% |
100% |
100% |
100% |
100% |
100% |
100% |
100% |
|
|
|
|
|
|
|
|
|
|
| For Tax Cr |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Feb 4,
2011. The last time I looked at this
stock I got 2010 and 2011 estimates of $1.65 and $1.72 for earnings and $1.96
and $2.06 for cash flow. |
|
|
|
|
|
|
|
|
|
| Company has
changed to a stock company. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Company does
not use FFO or Distributable Cash. It
does its comparisons to Cash Flow.
Distributions are not expected to be decreased until after 2011 and by
an amount of 30% or less. The
reduction will probably be in the low 20% range. |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| How they make
their money. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| The
North West Company is a leading retailer of food and everyday products and
services to rural communities and urban neighborhoods in Canada, Alaska, the
South Pacific and the Caribbean. North West |
|
|
|
|
| operates 225
stores under the trading names Northern, NorthMart, Giant Tiger, AC Value
Center, and Cost-U-Less. |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 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. |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Copyright ©
2008 Website of SPBrunner. All rights reserved. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|