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.														Estimates	Estimates	Estimates
While I try to be accurate, I assume no responsibility for any figure in this spreadsheet.														Q2 2025	<-Estimates				https://www.annualreports.com/Company/guardian-capital-group-ltd
See my website on stocks or see my blog at the following sites.							https://spbrunner.com/stocks.html				https://spbrunner.blogspot.com/			6/30/25	<-Estimates
Guardian Capital Group					TSX	GCG.A	OTC	GCAAF	https://www.guardiancapital.com/			Fiscal Yr:	Dec 31
Year	12/31/12	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		Value	Description	#Y	Item	Total G
Accounting Rules								IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS					Accounting Rules
USD - CDN$	0.9949	1.0636	1.1601	1.3847	1.3427	1.2545	1.3642	1.2988	1.2732	1.2678	1.3544	1.3226	1.4389	1.4120	1.4120	1.4120		2.07%	<-IRR #YR->	5	USD - CDN$
Change	-2.17%	6.91%	9.07%	19.36%	-3.04%	-6.57%	8.74%	-4.79%	-1.97%	-0.42%	6.83%	-2.35%	8.79%	-1.87%	0.00%	0.00%		2.18%	<-IRR #YR->	10	USD - CDN$
Exchange 5 years								-1.2988	0.0000	0.0000	0.0000	0.0000	1.4389								Exchange 5 years
Exchange 10 years			-1.1601	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	0.0000	1.4389								Exchange 10 years
Split
Date
														$168	<-12 mths	-0.54%
Total Client Assets	$18.83	$33.79	$47.80	$46.27	$51.66	$69.32	$68.46	$79.65	$110.77	$87.85	$53.30	$58.77	$168.98	$168.06	<-12 mths			253.52%	<-Total Growth	10	Total Client Assets
Increase	18.23%	79.41%	41.47%	-3.19%	11.64%	34.19%	-1.25%	16.35%	39.07%	-20.69%	-39.32%	10.26%	187.51%	-0.54%	<-12 mths			13.46%	<-IRR #YR->	10	Total Client Assets
5 year Running Average	$17.97	$21.17	$26.52	$32.52	$39.67	$49.77	$56.70	$63.07	$75.97	$83.21	$80.01	$78.07	$95.93	$107.39	<-12 mths			16.23%	<-IRR #YR->	5	Total Client Assets
Increase	-4.63%	17.83%	25.26%	22.63%	21.97%	25.46%	13.93%	11.23%	20.45%	9.53%	-3.85%	-2.42%	22.89%	11.94%	<-12 mths			13.72%	<-IRR #YR->	10	5 yr Running Average
AUM per Share $M	$0.57	$1.04	$1.49	$1.48	$1.71	$2.35	$2.41	$2.86	$3.99	$3.26	$2.03	$2.33	$6.86	$6.82	<-12 mths			8.75%	<-IRR #YR->	5	5 yr Running Average
Increase	21.09%	82.58%	42.90%	-0.67%	15.99%	37.07%	2.64%	18.71%	39.57%	-18.38%	-37.69%	14.71%	194.31%	-0.54%	<-12 mths			16.51%	<-IRR #YR->	10	Revenue per Share
5 year Running Average	$1	$1	$1	$1	$1	$2	$2	$2	$3	$3	$3	$3	$4	$4	<-12 mths			19.10%	<-IRR #YR->	5	Revenue per Share
P/AUM Med	17.15	13.04	11.41	12.00	11.87	11.17	9.89	8.67	5.54	9.59	16.14	18.10	6.64	7.71	<-12 mths			16.40%	<-IRR #YR->	10	5 yr Running Average
P/AUM Close	18.25	14.85	11.96	12.33	14.62	11.33	9.15	9.38	6.75	10.71	19.12	19.00	6.22	9.82	<-12 mths			11.31%	<-IRR #YR->	5	5 yr Running Average
Assets under Administration					P/S Med	20 yr	12.52	15 yr	11.87	10 yr	10.53	5 yr	9.59		-6.74%						Assets under Administration
			-$48	$0	$0	$0	$0	$0	$0	$0	$0	$0	$169
								-$80	$0	$0	$0	$0	$169
			-$27	$0	$0	$0	$0	$0	$0	$0	$0	$0	$96
								-$63	$0	$0	$0	$0	$96
			-$1	$0	$0	$0	$0	$0	$0	$0	$0	$0	$7
								-$3	$0	$0	$0	$0	$7
			-$1	$0	$0	$0	$0	$0	$0	$0	$0	$0	$4
								-$2	$0	$0	$0	$0	$4
														$382	<-12 mths	18.10%			Estimates		last 12 months from Qtr.
Net Mangement and Advisory Fees	$18.86	$23.09	$28.02	$33.86	$38.42	$42.00	$94.59	$51.37	$61.94	$75.09	$170.39	$182.53	$267.54					854.74%	<-Total Growth	10	Revenue
Increase	18.38%	22.46%	21.37%	20.84%	13.46%	9.32%	125.20%	-45.69%	20.57%	21.23%	126.93%	7.12%	46.57%					20.71%	<-Median->	10	Increase
Net Revenue*	$85.03	$101.28	$119.28	$132.91	$142.69	$151.24	$171.51	$186.10	$215.79	$285.09	$201.00	$241.18	$323.40	$379.0	$399.0	$420.0		171.14%	<-Total Growth	10	Revenue
Increase	15.38%	19.11%	17.77%	11.43%	7.35%	5.99%	13.41%	8.51%	15.95%	32.11%	-29.50%	19.99%	34.09%	17.19%	5.28%	5.26%		10.49%	<-IRR #YR->	10	Revenue	171.14%
5 year Running Average	$70.4	$78.2	$89.5	$102.4	$116.2	$129.5	$143.5	$156.9	$173.5	$201.9	$212	$225.8	$253.3	$285.9	$308.7	$352.5		11.69%	<-IRR #YR->	5	Revenue	73.78%
Revenue per Share	$2.57	$3.12	$3.71	$4.24	$4.73	$5.12	$6.04	$6.68	$7.78	$10.58	$7.66	$9.56	$13.12	$15.38	$16.19	$17.04		10.96%	<-IRR #YR->	10	5 yr Running Average	182.86%
Increase	18.18%	21.21%	18.96%	14.34%	11.53%	8.26%	17.87%	10.71%	16.37%	35.97%	-27.60%	24.83%	37.26%	17.19%	5.28%	5.26%		10.05%	<-IRR #YR->	5	5 yr Running Average	61.45%
5 year Running Average	$2.03	$2.32	$2.72	$3.16	$3.68	$4.19	$4.77	$5.36	$6.07	$7.24	$7.75	$8.45	$9.74	$11.26	$12.38	$14.26		13.46%	<-IRR #YR->	10	Revenue per Share	253.63%
P/S (Price/Sales) Med	3.80	4.35	4.57	4.18	4.30	5.12	3.95	3.71	2.84	2.96	4.28	4.41	3.47	3.42				14.44%	<-IRR #YR->	5	Revenue per Share	96.28%
P/S (Price/Sales) Close	4.04	4.95	4.79	4.29	5.29	5.19	3.65	4.02	3.46	3.30	5.07	4.63	3.25	4.35	4.14	3.99		13.62%	<-IRR #YR->	10	5 yr Running Average	258.41%
P/S 10 Year Median	5.52	4.51	4.46	4.31	4.28	4.28	4.24	4.24	4.24	4.06	4.23	4.23	4.06	3.83	3.71	3.59		12.67%	<-IRR #YR->	5	5 yr Running Average	81.56%
*Revenue in M CDN $					P/S Med	20 yr	4.27	15 yr	4.18	10 yr	4.06	5 yr	3.47		7.16%	Diff M/C
																					Operating Costs to Rev	SAP
			-$119.3	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$323.4
								-$186.1	$0.0	$0.0	$0.0	$0.0	$323.4
			-$89.5	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$253.3
								-$156.9	$0.0	$0.0	$0.0	$0.0	$253.3
			-$3.71	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$13.12
								-$6.68	$0.00	$0.00	$0.00	$0.00	$13.12
			-$2.72	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$9.74
								-$5.36	$0.00	$0.00	$0.00	$0.00	$9.74
														$25	<-12 mths	-34.47%
Operating Earnings	$20.14	$26.93	$38.14	$43.00	$44.67	$48.17	$46.39	$48.90	$54.84	$81.79	$44.12	$59.85	$38.82	$25.44	<-12 mths			1.79%	<-Total Growth	10	Operating Earnings
Change	17.54%	33.73%	41.62%	12.73%	3.88%	7.84%	-3.70%	5.42%	12.15%	49.14%	-46.05%	35.64%	-35.13%	-34.47%	<-12 mths			0.18%	<-IRR #YR->	10	Operating Earnings
5 year Running Average		$17.29	$23.18	$29.07	$34.58	$40.18	$44.07	$46.22	$48.59	$56.02	$55.21	$57.90	$55.89	$50.01	<-12 mths			-4.51%	<-IRR #YR->	5	Operating Earnings
Operating Earnings per Share	$0.61	$0.83	$1.19	$1.37	$1.48	$1.63	$1.63	$1.76	$1.98	$3.03	$1.68	$2.37	$1.58	$1.03	<-12 mths			2.87%	<-IRR #YR->	10	Operating Earnings per Share
Change	20.38%	36.10%	43.05%	15.67%	7.92%	10.15%	0.09%	7.56%	12.55%	53.49%	-44.60%	41.11%	-33.60%	-34.47%	<-12 mths			-2.16%	<-IRR #YR->	5	Operating Earnings per Share
5 year Running Average		$0.52	$0.71	$0.90	$1.10	$1.30	$1.46	$1.57	$1.70	$2.01	$2.02	$2.16	$2.13	$1.94	<-12 mths
			-$38.14	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$38.82
								-$48.90	$0.0	$0.0	$0.0	$0.0	$38.82
			-$1.19	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$1.58
								-$1.76	$0.0	$0.0	$0.0	$0.0	$1.58
Per Share														-$1.52	<-12 mths	-137.03%			Estimates		Last 12 months from Qtr
Payout Ratio Adj EPS														57.82%	108.92%	116.46%			Estimates		Payout Ratio EPS
Adjusted Net Income CDN$	$18.2	$34.8	$36.7	$44.1	$69.5	$96.3	-$17.0	$123.1	$42.4	$184.2	-$59.6	$102.2	$100.0					172.82%	<-Total Growth	10	Adjusted Profit CDN$
Return on Equity ROE	6.02%	6.66%	7.41%	7.60%	6.66%	6.51%	7.29%	7.56%	8.11%	10.11%	5.19%	5.61%	4.16%					6.98%	<-Median->	10	Return on Equity ROE
5Yr Median	5.99%	5.99%	6.02%	6.66%	6.66%	6.66%	7.29%	7.29%	7.29%	7.56%	7.56%	7.56%	5.61%					7.29%	<-Median->	10	5 Yr Median
Basic	$0.57	$1.13	$1.21	$1.50	$2.44	$3.49	-$0.63	$4.77	$1.67	$7.35	-$2.52	$4.22	$4.30					255.37%	<-Total Growth	10	AEPS
AEPS* Dilued	$0.57	$1.11	$1.18	$1.44	$2.32	$3.30	-$0.63	$4.50	$1.57	$6.87	-$2.52	$3.99	$4.10	$2.75	$1.57	$1.58		247.46%	<-Total Growth	10	AEPS
Increase	18.75%	94.74%	6.31%	22.03%	61.11%	42.24%	-119.09%	814.29%	-65.11%	337.58%	-136.68%	258.33%	2.76%	-32.93%	-42.91%	0.64%		8	2	10	Years of Data, EPS P or N	80.00%
5 year Running Average	$0.42	$0.60	$0.76	$0.96	$1.32	$1.87	$1.52	$2.19	$2.21	$3.12	$1.96	$2.88	$2.80	$3.04	$1.98	$2.80		13.26%	<-IRR #YR->	10	AEPS	247.46%
AEPS Yield	5.48%	7.18%	6.63%	7.91%	9.26%	12.40%	-2.86%	16.76%	5.83%	19.68%	-6.49%	9.01%	9.61%	4.11%	2.34%	2.32%		-1.84%	<-IRR #YR->	5	AEPS	-8.89%
Payout Ratio	29.82%	27.03%	22.03%	21.53%	15.09%	11.82%	N/C	12.89%	40.13%	10.19%	0%	31.58%	35.37%	56.00%	99.36%	98.73%		13.97%	<-IRR #YR->	10	5 yr Running Average	269.66%
5 year Running Average	37.14%	30.79%	27.44%	25.10%	21.00%	17.22%	24.05%	19.67%	22.33%	18.07%	34.01%	28.24%	35.26%	38.51%	67.85%	52.68%		5.09%	<-IRR #YR->	5	5 yr Running Average	28.18%
Price/AEPS Median	17.15	12.23	14.37	12.31	8.77	7.95	-37.84	5.51	14.09	4.55	-13.01	10.57	11.10	6.42	0.01	0.00		8.36	<-Median->	10	Price/AEPS Median
Price/AEPS High	18.51	15.08	16.03	13.38	10.81	8.79	-42.94	6.20	17.99	5.39	-16.27	11.63	12.68	24.33	0.00	0.00		9.80	<-Median->	10	Price/AEPS High
Price/AEPS Low	15.79	9.37	12.71	11.25	6.72	7.11	-32.75	4.82	10.19	3.72	-9.74	9.51	9.51	13.93	0.00	0.00		6.91	<-Median->	10	Price/AEPS Low
Price/AEPS Close	18.25	13.92	15.08	12.65	10.80	8.06	-35.02	5.97	17.17	5.08	-15.41	11.09	10.40	24.35	42.65	43.04		9.23	<-Median->	10	Price/AEPS Close
Trailing P/AEPS Close	21.67	27.11	16.03	15.43	17.40	11.47	6.68	-42.62	5.99	22.23	5.65	-17.56	10.69	16.33	24.35	43.31		8.69	<-Median->	10	Trailing P/AEPS Close
Median Values		DPR	10 Yrs	18.31%	5 Yrs	33.47%	P/CF	5 Yrs	in order	10.57	11.63	9.51	10.40		130.36%	Diff M/C					DPR 75% to 95% best
Adjusted Net Income CDN$
Net Earnings from Continuing Operations			-$1.18	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$4.10
								-$4.50	$0.00	$0.00	$0.00	$0.00	$4.10
			-$0.76	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$2.80
								-$2.19	$0.00	$0.00	$0.00	$0.00	$2.80
Amount														$49.5	<-12 mths	-9.83%			Estimates		Last 12 months from Qtr
Per Share														$2.03	<-12 mths	-10.96%			Estimates		Last 12 months from Qtr
Payout Ratio Adj EPS														78.33%	#VALUE!				Estimates		Payout Ratio EPS
Adjusted Cash Flow from Op CDN$	$21.3	$27.6	$36.2	$38.3	$38.7	$41.3	$43.7	$51.6	$56.8	$84.8	$39.8	$69.6	$54.9					51.51%	<-Total Growth	10	Adjusted Cash Flow from Op
Return on Equity ROE	6.02%	6.66%	7.41%	7.60%	6.66%	6.51%	7.29%	7.56%	8.11%	10.11%	5.19%	5.61%	4.16%					6.98%	<-Median->	10	Return on Equity ROE
5Yr Median	5.99%	5.99%	6.02%	6.66%	6.66%	6.66%	7.29%	7.29%	7.29%	7.56%	7.56%	7.56%	5.61%					7.29%	<-Median->	10	5 Yr Median
Basic	$0.68	$0.90	$1.20	$1.30	$1.36	$1.49	$1.63	$2.00	$2.23	$3.38	$1.63	$2.93	$2.36					96.50%	<-Total Growth	10	ACFO
ACFO* Dilued	$0.66	$0.89	$1.16	$1.25	$1.30	$1.41	$1.55	$1.90	$2.10	$2.81	$1.55	$2.79	$2.28	$2.03	<-12 mths			96.55%	<-Total Growth	10	ACFO
Increase	10.00%	34.85%	30.34%	7.76%	4.00%	8.46%	9.93%	22.58%	10.53%	33.81%	-44.84%	80.00%	-18.28%	-10.96%	<-12 mths			10	0	10	Years of Data, EPS P or N	100.00%
5 year Running Average	$0.51	$0.61	$0.76	$0.91	$1.05	$1.20	$1.33	$1.48	$1.65	$1.95	$1.98	$2.23	$2.31	$2.29	<-12 mths			6.99%	<-IRR #YR->	10	ACFO	96.55%
ACFO Yield	6.35%	5.76%	6.52%	6.86%	5.19%	5.30%	7.03%	7.08%	7.79%	8.05%	3.99%	6.30%	5.35%	3.03%	<-12 mths			3.71%	<-IRR #YR->	5	ACFO	20.00%
Payout Ratio	25.76%	33.71%	22.41%	24.80%	26.92%	27.66%	33.55%	30.53%	30.00%	24.91%	58.06%	45.16%	63.60%	75.86%	<-12 mths			11.74%	<-IRR #YR->	10	5 yr Running Average	203.42%
5 year Running Average	30.71%	30.39%	27.37%	26.32%	26.43%	26.79%	27.44%	29.01%	29.90%	28.86%	33.60%	36.50%	42.84%	51.05%	<-12 mths			9.25%	<-IRR #YR->	5	5 yr Running Average	55.60%
Price/ACFO Median	14.81	15.25	14.62	14.18	15.64	18.60	15.38	13.06	10.54	11.13	21.15	15.12	19.96	25.91	<-12 mths			15.25	<-Median->	10	Price/ACFO Median
Price/ACFO High	15.98	18.81	16.31	15.41	19.30	20.57	17.45	14.69	13.45	13.17	26.45	16.63	22.81	32.96	<-12 mths			17.04	<-Median->	10	Price/ACFO High
Price/ACFO Low	13.64	11.69	12.93	12.96	11.98	16.63	13.31	11.42	7.62	9.09	15.84	13.61	17.11	18.87	<-12 mths			13.13	<-Median->	10	Price/ACFO Low
Price/ACFO Close	15.76	17.36	15.34	14.57	19.27	18.87	14.23	14.13	12.83	12.42	25.05	15.86	18.71	32.99	<-12 mths			15.22	<-Median->	10	Price/ACFO Close
Trailing P/ACFO Close		23.41	19.99	15.70	20.04	20.47	15.65	17.32	14.18	16.62	13.82	28.55	15.29	29.37	<-12 mths			16.16	<-Median->	10	Trailing P/ACFO Close
Median Values		DPR	10 Yrs	30.26%	5 Yrs	45.16%	P/CF	5 Yrs	in order	15.12	16.63	13.61	15.86		118.21%	Diff M/C					DPR 75% to 95% best
* Adjusted Cash Flow from Operations.
			-$1.16	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$2.28
								-$1.90	$0.00	$0.00	$0.00	$0.00	$2.28
			-$0.76	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$2.31
								-$1.48	$0.00	$0.00	$0.00	$0.00	$2.31
														$6.18	<-12 mths	50.73%			Estimates		Last 12 months from Qtr
Difference Basic and Diluted	1.39%	1.77%	3.25%	4.00%	4.92%	5.34%	0.00%	5.66%	5.99%	6.53%	0.00%	6.55%	4.65%					5.13%	<-Median->	10	Difference Basic and Diluted
EPS Basic	$0.72	$1.13	$1.23	$1.50	$2.44	$3.37	-$0.63	$4.77	$1.67	$7.35	-$1.76	$23.67	$4.30					249.59%	<-Total Growth	10	EPS Basic
EPS Diluted*	$0.71	$1.11	$1.19	$1.44	$2.32	$3.19	-$0.63	$4.50	$1.57	$6.87	-$1.76	$22.12	$4.10	$2.98	$2.05			244.54%	<-Total Growth	10	EPS Diluted
Increase	129.03%	56.34%	7.21%	21.01%	61.11%	37.50%	-119.75%	814.29%	-65.11%	337.58%	-125.62%	1356.82%	-81.46%	-27.32%	-31.21%			8	2	10	Years of Data, EPS P or N	80.00%
Earnings Yield	6.83%	7.18%	6.69%	7.91%	9.26%	11.99%	-2.86%	16.76%	5.83%	19.68%	-4.53%	49.98%	9.61%	4.45%	3.06%			13.17%	<-IRR #YR->	10	Earnings per Share	244.54%
5 year Running Average	$0.41	$0.60	$0.75	$0.95	$1.35	$1.85	$1.50	$2.16	$2.19	$3.10	$2.11	$6.66	$6.58	$6.86	$5.90			-1.84%	<-IRR #YR->	5	Earnings per Share	-9.76%
10 year Running Average	$0.41	$0.50	$0.60	$0.71	$0.88	$1.13	$1.05	$1.46	$1.57	$2.23	$1.98	$4.08	$4.37	$4.53	$4.50			24.19%	<-IRR #YR->	10	5 yr Running Average	772.68%
* Diluted ESP per share									E/P	10 Yrs	9.44%	5Yrs	9.61%					24.91%	<-IRR #YR->	5	5 yr Running Average	204.07%
			-$1.19	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$4.10
								-$4.50	$0.00	$0.00	$0.00	$0.00	$4.10
			-$0.75	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$6.58
								-$2.16	$0.00	$0.00	$0.00	$0.00	$6.58
Dividend*														$1.59	$1.71	$1.84			Estimates		Dividend*
Increase														9.66%	7.55%	7.60%			Estimates		Increase
Payout Ratio EPS														53.36%	83.41%	#DIV/0!			Estimates		Payout Ratio EPS
Special Dividends Class A & B/	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00		$0.00	<-Median->	10	Special Dividends
Dividend*	$0.17	$0.30	$0.26	$0.31	$0.35	$0.39	$0.52	$0.58	$0.63	$0.70	$0.90	$1.26	$1.45	$1.54	$1.56	$1.56		457.69%	<-Total Growth	10	Dividends
Increase	6.25%	76.47%	-13.33%	19.23%	12.90%	11.43%	33.33%	11.54%	8.62%	11.11%	28.57%	40.00%	15.08%	6.21%	1.30%	0.00%		20	2	27	Years of data, Count P, N
Average Increases 5 Year Running	2.67%	20.00%	14.67%	18.75%	21.18%	6.00%	20.00%	17.42%	16.00%	15.90%	14.62%	23.45%	26.03%	24.00%	14.67%	4.76%		18.08%	<-Median->	10	5 year Increases
Dividends 5 Yr Running	$0.16	$0.19	$0.21	$0.24	$0.28	$0.32	$0.37	$0.43	$0.49	$0.56	$0.67	$0.81	$0.99	$1.17	$1.34	$1.47		375.00%	<-Total Growth	10	Dividends 5 Yr Running
Yield H/L Price	1.74%	2.21%	1.53%	1.75%	1.72%	1.49%	2.18%	2.34%	2.85%	2.24%	2.75%	2.99%	3.19%	2.93%				2.29%	<-Median->	10	Yield H/L Price	Item
Yield on High  Price	1.61%	1.79%	1.37%	1.61%	1.39%	1.34%	1.92%	2.08%	2.23%	1.89%	2.20%	2.72%	2.79%	2.30%				2.00%	<-Median->	10	Yield on High  Price	EPS
Yield on Low Price	1.89%	2.88%	1.73%	1.91%	2.25%	1.66%	2.52%	2.67%	3.94%	2.74%	3.67%	3.32%	3.72%	4.02%				2.71%	<-Median->	10	Yield on Low Price	AEPS
Yield on Close Price	1.63%	1.94%	1.46%	1.70%	1.40%	1.47%	2.36%	2.16%	2.34%	2.01%	2.32%	2.85%	3.40%	2.30%	2.33%	2.29%		2.24%	<-Median->	10	Yield on Close Price	CFPS
Payout Ratio EPS	23.94%	27.03%	21.85%	21.53%	15.09%	12.23%	-82.54%	12.89%	40.13%	10.19%	-51.14%	5.70%	35.37%	51.68%	76.10%	0.00%		#DIV/0!	<-Median->	25	DPR EPS	FCF
DPR EPS 5 Yr Running	37.68%	31.10%	27.59%	25.21%	20.53%	17.41%	24.37%	19.87%	22.56%	18.19%	31.56%	12.22%	15.02%	17.05%	22.75%	0.00%		$0.23	<-Median->	24	DPR EPS 5 Yr Running
Payout Ratio CFPS	23.50%	31.76%	21.95%	28.75%	24.82%	25.79%	31.33%	32.88%	24.34%	18.34%	29.08%	39.04%	38.32%	71.54%	#VALUE!	0.00%		$0.24	<-Median->	28	DPR CF
DPR CF 5 Yr Running	31.93%	30.13%	26.15%	26.33%	26.03%	26.27%	26.74%	28.96%	27.65%	24.87%	25.77%	28.09%	29.92%	36.39%	#VALUE!	0.00%		$0.25	<-Median->	24	DPR CF 5 Yr Running
Payout Ratio CFPS WC	22.69%	30.44%	19.30%	19.69%	20.82%	21.16%	20.35%	24.48%	23.09%	17.75%	24.11%	35.86%	76.52%	71.54%	#VALUE!	0.00%		$0.20	<-Median->	28	DPR CF WC
DPR CF WC 5 Yr Running	27.39%	27.62%	24.71%	22.73%	21.93%	21.67%	20.33%	21.45%	22.10%	20.98%	21.72%	24.99%	31.24%	38.39%	#VALUE!	0.00%		$0.21	<-Median->	24	DPR CF WC 5 Yr Running
Median Values	10 Yr Med	10 Yr Cl	2.29%	2.24%	5 Yr Med	5 Yr Cl	2.85%	2.34%	5 Yr Med	Payout	10.19%	29.08%	24.11%					20.11%	<-IRR #YR->	5	Dividends	150.00%
* Dividends per share	10 Yr Med	and Cur.	1.81%	4.05%	5 Yr Med	and Cur.	-18.18%	-0.34%	Last Div Inc --->		$0.34	$0.37	8.82%					18.75%	<-IRR #YR->	10	Dividends	457.69%
Dividends Growth 15																		16.33%	<-IRR #YR->	15	Dividends	866.67%
Dividends Growth 20																		23.88%	<-IRR #YR->	20	Dividends	7150.00%
Dividends Growth 25																		22.03%	<-IRR #YR->	25	Dividends	14400.00%
Dividends Growth 30																		20.24%	<-IRR #YR->	27	Dividends
Dividends Growth 5								-$0.58	$0.00	$0.00	$0.00	$0.00	$1.45								Dividends Growth 5
Dividends Growth 10			-$0.26	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$1.45								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	$1.45								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	$1.45								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	$1.45								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	$1.45								Dividends Growth 30
																						Div Yd
Historical Dividends	Historical	High Div	4.00%	Low Div	0.18%	10 Yr High	3.92%	10 Yr Low	1.35%	Med Div	1.73%	Close Div	1.55%								Historical Dividends	4.28%
High/Ave/Median Values	Curr diff	Exp.	-41.76%		92.27%	Exp.	-40.57%		72.57%	Cheap	34.67%	Cheap	50.30%								High/Ave/Median	10.64%
																						26.48%
Future Dividend Yield					Div Yield	$0.06	earning in	5	Years	at IRR of	20.11%	Div Inc.	150.00%								Future Dividend Yield
Future Dividend Yield					Div Yield	14.56%	earning in	10	Years	at IRR of	20.11%	Div Inc.	525.00%								Future Dividend Yield
Future Dividend Yield					Div Yield	36.40%	earning in	15	Years	at IRR of	20.11%	Div Inc.	1462.50%								Future Dividend Yield
Future Dividend Paid					Div Paid	$3.90	earning in	5	Years	at IRR of	20.11%	Div Inc.	150.00%								Future Dividend Paid	Div Pd
Future Dividend Paid					Div Paid	$9.75	earning in	10	Years	at IRR of	20.11%	Div Inc.	525.00%								Future Dividend Paid	$3.90
Future Dividend Paid					Div Paid	$24.38	earning in	15	Years	at IRR of	20.11%	Div Inc.	1462.50%								Future Dividend Paid	$9.75
																						$24.38
Dividend Covering Cost					Total Div	$11.63	over	5	Years	at IRR of	20.11%	Div Cov.	17.38%								Dividend Covering Cost
Dividend Covering Cost					Total Div	$36.82	over	10	Years	at IRR of	20.11%	Div Cov.	54.99%								Dividend Covering Cost
Dividend Covering Cost					Total Div	$99.79	over	15	Years	at IRR of	20.11%	Div Cov.	149.03%								Dividend Covering Cost
Yield if held 5 years	1.43%	4.21%	4.62%	3.79%	3.44%	3.99%	3.83%	3.42%	3.55%	3.44%	3.43%	5.29%	5.84%	6.96%	4.99%	4.76%		3.67%	<-Median->	10	Paid Median Price
Yield if held 10 years	3.25%	4.84%	2.93%	2.93%	3.01%	3.27%	7.29%	10.31%	7.71%	6.88%	9.21%	9.29%	8.55%	8.69%	7.67%	5.95%		7.50%	<-Median->	10	Paid Median Price
Yield if held 15 years	3.40%	5.95%	7.00%	9.02%	5.38%	7.46%	8.39%	6.54%	5.96%	6.02%	7.55%	17.67%	25.78%	18.84%	15.32%	15.96%		7.51%	<-Median->	10	Paid Median Price
Yield if held 20 years	24.43%	31.30%	17.96%	20.38%	19.67%	7.80%	10.31%	15.62%	18.34%	10.77%	17.22%	20.33%	16.34%	14.58%	13.42%	13.09%		16.78%	<-Median->	10	Paid Median Price
Yield if held 25 years				40.21%	53.50%	56.05%	54.26%	40.06%	41.42%	39.34%	18.00%	24.99%	39.06%	44.83%	24.00%	29.86%		40.13%	<-Median->	10	Paid Median Price
Yield if held 30 years									81.71%	107.01%	129.34%	131.48%	100.15%	101.26%	87.68%	31.20%
Yield if held 35 years														199.74%	238.48%	224.19%
Cost covered if held 5 years	6.55%	13.04%	18.49%	14.68%	13.65%	16.47%	13.49%	12.68%	13.93%	13.87%	12.70%	17.07%	19.91%	26.44%	21.46%	22.49%		13.90%	<-Median->	10	Paid Median Price	Div Yd
Cost covered if held 10 years	23.92%	23.72%	19.27%	18.08%	18.41%	20.06%	38.71%	56.71%	44.89%	41.36%	50.54%	43.48%	41.80%	46.93%	46.87%	40.80%		41.58%	<-Median->	10	Paid Median Price	6.96%
Cost covered if held 15 years	29.20%	34.71%	53.87%	65.50%	39.08%	54.74%	53.25%	43.49%	41.47%	42.68%	48.01%	95.79%	144.53%	116.45%	107.27%	125.93%		50.63%	<-Median->	10	Paid Median Price	8.69%
Cost covered if held 20 years	211.25%	184.69%	140.20%	153.86%	151.20%	61.40%	71.01%	111.78%	137.41%	82.46%	118.47%	118.92%	99.15%	96.85%	100.41%	109.86%		115.13%	<-Median->	10	Paid Median Price	18.84%
Cost covered if held 25 years				303.50%	411.22%	442.62%	375.65%	288.69%	316.27%	309.70%	128.00%	151.74%	244.85%	307.71%	185.69%	259.52%		306.60%	<-Median->	10	Paid Median Price
Cost covered if held 30 years									623.87%	842.31%	921.18%	800.33%	629.88%	700.92%	686.84%	275.60%					See CCL no sp
Cost covered if held 35 years														1382.62%	1868.07%	1980.31%
Revenue Growth								$186.1	$215.8	$285.1	$201.0	$241.2	$323.4	$382	<-12 mths	18.10%		73.78%	<-Total Growth	5	Revenue Growth	73.78%
AEPS Growth								$4.50	$1.57	$6.87	-$2.52	$3.99	$4.10	$2.03	<-12 mths	-50.49%		-8.89%	<-Total Growth	5	AEPS Growth	-8.89%
Net Income Growth								$123.1	$42.4	$184.2	-$43.1	$562.9	$100.1	$150	<-12 mths	50.11%		-18.70%	<-Total Growth	5	Net Income Growth	-18.70%
Cash Flow Growth								$49.1	$71.8	$102.9	$81.2	$81.4	$93.3	$53	<-12 mths	-43.11%		89.89%	<-Total Growth	5	Cash Flow Growth	89.89%
Dividend Growth								$0.58	$0.63	$0.70	$0.90	$1.26	$1.45	$1.54	<-12 mths	6.21%		150.00%	<-Total Growth	5	Dividend Growth	150.00%
Stock Price Growth								$26.85	$26.95	$34.90	$38.83	$44.26	$42.65	$66.96	<-12 mths	57.00%		58.85%	<-Total Growth	5	Stock Price Growth	58.85%
Revenue Growth			$119.3	$132.9	$142.7	$151.2	$171.5	$186.1	$215.8	$285.1	$201.0	$241.2	$323.4	$379	<-this year	17.19%		171.14%	<-Total Growth	10	Revenue Growth	171.14%
AEPS Growth			$1.18	$1.44	$2.32	$3.30	-$0.63	$4.50	$1.57	$6.87	-$2.52	$3.99	$4.10	$2.03	<-this year	-50.49%		247.46%	<-Total Growth	10	AEPS Growth	247.46%
Net Income Growth			$37.0	$44.1	$69.5	$93.7	-$17.0	$123.1	$42.4	$184.2	-$43.1	$562.9	$100.1	$74	<-this year	-25.94%		170.41%	<-Total Growth	10	Net Income Growth	170.41%
Cash Flow Growth			$38.1	$33.8	$42.5	$44.6	$47.1	$49.1	$71.8	$102.9	$81.2	$81.4	$93.3	$53	<-this year	-43.11%		144.89%	<-Total Growth	10	Cash Flow Growth	144.89%
Dividend Growth			$0.26	$0.31	$0.35	$0.39	$0.52	$0.58	$0.63	$0.70	$0.90	$1.26	$1.45	$1.59	<-this year	9.66%		457.69%	<-Total Growth	10	Dividend Growth	457.69%
Stock Price Growth			$17.79	$18.21	$25.05	$26.61	$22.06	$26.85	$26.95	$34.90	$38.83	$44.26	$42.65	$66.96	<-this year	57.00%		139.74%	<-Total Growth	10	Stock Price Growth	139.74%
Dividends on Shares	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00		$0.00	No of Years	30	Total Dividends	12/31/94
Share Value	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00		$0.00	No of Years	30	Share Value	$1.33
Total																		$0.00			Total Return	0.00
Dividends on Shares				$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00		$0.00	No of Years	10	Total Dividends	12/31/14
Share Value			$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00		$0.00	No of Years	10	Share Value	$17.79
Total																		$0.00			Total Return	18.00
Earnings less Dividends								$14.51	$1.00	$35.54	$7.85	$29.23	$27.96								Dollar Test	WJX
Change in MV per Share								$40.85	$6.00	$206.43	$50.67	$22.20	$15.80					$27.96	$15.80		Dollar Test
Ratio								2.82	6.00	5.81	6.45	0.76	0.57						-43.49%		Dollar Test
Increase in Earnings 5 years												$22.75	-$0.40								Increase in Earnings 5 years	KBL
Rate profits have increased												77.83%	-1.43%								Rate profits have increased
Graham Number AEPS	$11.72	$17.87	$20.09	$22.84	$31.69	$39.94	$39.58	$49.83	$29.85	$69.34	$67.25	$66.45	$70.24	$57.64	$43.55	$43.69		249.55%	<-Total Growth	10	Graham Number AEPS
Increase	15.48%	52.47%	12.47%	13.65%	38.77%	26.04%	-0.91%	25.90%	-40.10%	132.33%	-3.03%	-1.19%	5.70%	-17.94%	-24.44%	0.32%		9.68%	<-Median->	10	Increase
Price/GP Ratio Med	0.83	0.76	0.84	0.78	0.64	0.66	0.60	0.50	0.74	0.45	0.49	0.63	0.65	0.91				0.64	<-Median->	10	Price/GP Ratio Med
Price/GP Ratio High	0.90	0.94	0.94	0.84	0.79	0.73	0.68	0.56	0.95	0.53	0.61	0.70	0.74	1.16				0.71	<-Median->	10	Price/GP Ratio High
Price/GP Ratio Low	0.77	0.58	0.75	0.71	0.49	0.59	0.52	0.44	0.54	0.37	0.37	0.57	0.56	0.66				0.53	<-Median->	10	Price/GP Ratio Low
Price/GP Ratio Close	0.89	0.86	0.89	0.80	0.79	0.67	0.56	0.54	0.90	0.50	0.58	0.67	0.61	1.16	1.54	1.56		0.64	<-Median->	10	Price/GP Ratio Close
Prem/Disc Close	-11.25%	-13.52%	-11.46%	-20.26%	-20.96%	-33.38%	-44.26%	-46.12%	-9.71%	-49.67%	-42.26%	-33.39%	-39.28%	16.17%	53.75%	55.64%		-36.33%	<-Median->	10	Graham Price
Graham Number ACFO	$12.61	$16.00	$19.92	$21.28	$23.72	$26.11	$27.13	$32.38	$34.52	$44.35	$31.94	$55.56	$52.38	$49.52	#VALUE!	$0.00		162.90%	<-Total Growth	10	Graham Number AOCF
Increase	11.15%	26.88%	24.53%	6.80%	11.50%	10.06%	3.89%	19.37%	6.61%	28.47%	-27.98%	73.96%	-5.74%	-5.45%	#VALUE!	#VALUE!		8.43%	<-Median->	10	Increase
Price/GP Ratio Med	0.78	0.85	0.85	0.83	0.86	1.00	0.88	0.77	0.64	0.70	1.03	0.76	0.87	1.06				0.85	<-Median->	10	Price/GP Ratio Med
Price/GP Ratio High	0.84	1.05	0.95	0.91	1.06	1.11	1.00	0.86	0.82	0.83	1.28	0.83	0.99	1.35				0.95	<-Median->	10	Price/GP Ratio High
Price/GP Ratio Low	0.71	0.65	0.75	0.76	0.66	0.90	0.76	0.67	0.46	0.58	0.77	0.68	0.74	0.77				0.71	<-Median->	10	Price/GP Ratio Low
Price/GP Ratio Close	0.82	0.97	0.89	0.86	1.06	1.02	0.81	0.83	0.78	0.79	1.22	0.80	0.81	1.35	#VALUE!	#DIV/0!		0.82	<-Median->	10	Price/GP Ratio Close
Prem/Disc Close	-17.52%	-3.43%	-10.70%	-14.41%	5.60%	1.91%	-18.68%	-17.08%	-21.93%	-21.31%	21.56%	-20.34%	-18.57%	35.21%	#VALUE!	#DIV/0!		-17.82%	<-Median->	10	Graham Price
Graham Number EPS	$13.08	$17.87	$20.18	$22.84	$31.69	$39.27	$38.91	$49.83	$29.85	$69.34	$67.25	$156.45	$70.24	$60.00	$49.77	$0.00		248.08%	<-Total Growth	10	Graham Number EPS
Increase	60.38%	36.62%	12.94%	13.17%	38.77%	23.92%	-0.91%	28.05%	-40.10%	132.33%	-3.03%	132.66%	-55.11%	-14.57%	-17.06%	-100.00%		18.55%	<-Median->	10	Increase
Price/GP Ratio Med	0.75	0.76	0.84	0.78	0.64	0.67	0.61	0.50	0.74	0.45	0.49	0.27	0.65	0.88				0.63	<-Median->	10	Price/GP Ratio Med
Price/GP Ratio High	0.81	0.94	0.94	0.84	0.79	0.74	0.70	0.56	0.95	0.53	0.61	0.30	0.74	1.11				0.72	<-Median->	10	Price/GP Ratio High
Price/GP Ratio Low	0.69	0.58	0.74	0.71	0.49	0.60	0.53	0.44	0.54	0.37	0.37	0.24	0.56	0.64				0.51	<-Median->	10	Price/GP Ratio Low
Price/GP Ratio Close	0.80	0.86	0.88	0.80	0.79	0.68	0.57	0.54	0.90	0.50	0.58	0.28	0.61	1.12	1.35	#DIV/0!		0.59	<-Median->	10	Price/GP Ratio Close
Prem/Disc Close	-20.48%	-13.52%	-11.84%	-20.26%	-20.96%	-32.24%	-43.31%	-46.12%	-9.71%	-49.67%	-42.26%	-71.71%	-39.28%	11.60%	34.55%	#DIV/0!		-40.77%	<-Median->	10	Graham Price
Based on EPS 3 Yrs EPS	$9.69	$11.87	$15.59	$19.06	$23.23	$28.24	$33.16	$29.96	$36.54	$35.63	$53.28	$49.64	$104.50	$99.25	$108.44	$60.64		570.48%	<-Total Growth	10	Based on EPS 3 Yrs EPS
Increase	11.87%	22.47%	31.30%	22.30%	21.87%	21.58%	17.41%	-9.66%	21.97%	-2.51%	49.56%	-6.84%	110.53%	-5.03%	9.26%	-44.08%		21.73%	<-Median->	10	Increase
Price/GP Ratio Med	1.01	1.14	1.09	0.93	0.88	0.93	0.72	0.83	0.61	0.88	0.62	0.85	0.44	0.53				83.89%	<-Median->	10	Price/GP Ratio Med
Price/GP Ratio High	1.09	1.41	1.21	1.01	1.08	1.03	0.82	0.93	0.77	1.04	0.77	0.93	0.50	0.67				0.93	<-Median->	10	Price/GP Ratio High
Price/GP Ratio Low	0.93	0.88	0.96	0.85	0.67	0.83	0.62	0.72	0.44	0.72	0.46	0.76	0.37	0.39				0.69	<-Median->	10	Price/GP Ratio Low
Price/GP Ratio Close	1.07	1.30	1.14	0.96	1.08	0.94	0.67	0.90	0.74	0.98	0.73	0.89	0.41	0.67	0.62	1.12		0.89	<-Median->	10	Price/GP Ratio Close
Prem/Disc Close	7.30%	30.15%	14.14%	-4.47%	7.83%	-5.79%	-33.48%	-10.38%	-26.25%	-2.04%	-27.13%	-10.84%	-59.19%	-32.53%	-38.25%	12.15%		-0.11	<-Median->	10	Graham Price
Month, Year	Dec-12	Dec-13	Dec-14	Dec-15	Dec-16	Dec-17	Dec-18	Dec-19	Dec-20	Dec-21	Dec-22	Dec-23	Dec-24	Dec-25	Dec-26	Dec-27		30.00	<Count Years>	33	Month, Year
Price Close	$10.40	$15.45	$17.79	$18.21	$25.05	$26.61	$22.06	$26.85	$26.95	$34.90	$38.83	$44.26	$42.65	$66.96	$66.96	$68.00		139.74%	<-Total Growth	10	Stock Price
Increase	8.33%	48.56%	15.15%	2.36%	37.56%	6.23%	-17.10%	21.71%	0.37%	29.50%	11.26%	13.98%	-3.64%	57.00%	0.00%	1.55%		12.70	<-Median->	10	CAPE (10 Yr P/E)
P/E Ratio	14.65	13.92	14.95	12.65	10.80	8.34	-35.02	5.97	17.17	5.08	-22.06	2.00	10.40	22.47	32.66	#DIV/0!		9.70%	<-IRR #YR->	5	Stock Price	58.85%
Trailing P/E Ratio	33.55	21.76	16.03	15.30	17.40	11.47	6.92	-42.62	5.99	22.23	5.65	-25.15	1.93	16.33	22.47	33.17		9.14%	<-IRR #YR->	10	Stock Price	139.74%
CAPE (10 Yr P/E)	22.59	20.09	18.39	16.35	14.60	12.74	15.41	12.38	12.67	10.07	12.76	6.90	7.01	7.85	8.82	#DIV/0!		12.63%	<-IRR #YR->	5	Price & Dividend	77.24%
Median 10, 5 Yrs		D.  per yr	2.41%	2.94%	% Tot Ret	20.90%	23.25%	T P/E	$6.45	$5.65	P/E:	$7.15	$5.08		214.08%	Diff M/C		11.55%	<-IRR #YR->	10	Price & Dividend	179.60%
Price 15		D.  per yr	2.47%		% Tot Ret	17.28%						CAPE Diff	76.88%					11.83%	<-IRR #YR->	15	Stock Price	435.13%
Price  20		D.  per yr	1.74%		% Tot Ret	17.95%												7.94%	<-IRR #YR->	20	Stock Price	361.08%
Price  25		D.  per yr	2.29%		% Tot Ret	16.23%												11.80%	<-IRR #YR->	25	Stock Price	1524.76%
Price  30		D.  per yr	1.98%		% Tot Ret	13.94%												12.25%	<-IRR #YR->	30	Stock Price
Price  35		D.  per yr	1.86%		% Tot Ret	12.51%												13.01%	<-IRR #YR->	34	Stock Price
Price & Dividend 15																		14.30%	<-IRR #YR->	15	Price & Dividend	537.14%
Price & Dividend 20																		9.68%	<-IRR #YR->	20	Price & Dividend	456.22%
Price & Dividend 25																		14.08%	<-IRR #YR->	25	Price & Dividend	1871.05%
Price & Dividend 30																		14.23%	<-IRR #YR->	30	Price & Dividend
Price & Dividend 35																		14.87%	<-IRR #YR->	34	Price & Dividend
Price  5								-$26.85	$0.00	$0.00	$0.00	$0.00	$42.65								Price  5
Price 10			-$17.79	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$42.65								Price 10
Price & Dividend 5								-$26.85	$0.63	$0.70	$0.90	$1.26	$44.10								Price & Dividend 5
Price & Dividend 10			-$17.79	$0.31	$0.35	$0.39	$0.52	$0.58	$0.63	$0.70	$0.90	$1.26	$44.10								Price & Dividend 10
Price  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	$42.65								Price  15
Price  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	$42.65								Price  20
Price  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	$42.65								Price  25
Price  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	$42.65								Price  30
Price  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	$42.65								Price  35
Price & Dividend 15	$0.17	$0.30	$0.26	$0.31	$0.35	$0.39	$0.52	$0.58	$0.63	$0.70	$0.90	$1.26	$44.10								Price & Dividend 15
Price & Dividend 20	$0.17	$0.30	$0.26	$0.31	$0.35	$0.39	$0.52	$0.58	$0.63	$0.70	$0.90	$1.26	$44.10								Price & Dividend 20
Price & Dividend 25	$0.17	$0.30	$0.26	$0.31	$0.35	$0.39	$0.52	$0.58	$0.63	$0.70	$0.90	$1.26	$44.10								Price & Dividend 25
Price & Dividend 30	$0.17	$0.30	$0.26	$0.31	$0.35	$0.39	$0.52	$0.58	$0.63	$0.70	$0.90	$1.26	$44.10								Price & Dividend 30
Price & Dividend 35	$0.17	$0.30	$0.26	$0.31	$0.35	$0.39	$0.52	$0.58	$0.63	$0.70	$0.90	$1.26	$44.10								Price & Dividend 35
Price H/L Median	$9.78	$13.57	$16.96	$17.73	$20.34	$26.23	$23.84	$24.81	$22.13	$31.27	$32.78	$42.18	$45.50	$52.60	1.55%			168.28%	<-Total Growth	10	Stock Price
Increase	-3.98%	38.82%	24.98%	4.54%	14.69%	28.96%	-9.09%	4.07%	-10.82%	41.31%	4.83%	28.68%	7.88%	15.60%	2.33%			12.90%	<-IRR #YR->	5	Stock Price	83.39%
P/E Ratio	13.77	12.23	14.25	12.31	8.77	8.22	-37.84	5.51	14.09	4.55	-18.62	1.91	11.10	17.65	3.88%			10.37%	<-IRR #YR->	10	Stock Price	168.28%
Trailing P/E Ratio	31.53	19.11	15.28	14.90	14.12	11.30	7.47	-39.38	4.92	19.91	4.77	-23.96	2.06	12.83				15.88%	<-IRR #YR->	5	Price & Dividend	83.39%
P/E on Running 5 yr Average	23.61	22.69	22.49	18.62	15.02	14.18	15.87	11.46	10.10	10.09	15.53	6.33	6.91	7.67				12.77%	<-IRR #YR->	10	Price & Dividend	210.08%
P/E on Running 10 yr Average	23.96	27.03	28.50	25.08	23.08	23.17	22.70	17.00	14.08	14.04	16.55	10.33	10.41	11.62				13.77	P/E Ratio		Historical Median	103.31%
Median 10, 5 Yrs		D.  per yr	2.99%	2.40%	% Tot Ret	18.80%	18.76%	T P/E	6.20	4.77	P/E:	6.87	4.55						Count	34	Years of data
								-$24.81	$0.00	$0.00	$0.00	$0.00	$45.50
			-$16.96	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$45.50
								-$24.81	$0.63	$0.70	$0.90	$1.26	$46.95
			-$16.96	$0.31	$0.35	$0.39	$0.52	$0.58	$0.63	$0.70	$0.90	$1.26	$46.95
High Months	Dec	Nov	Aug	Jun	Dec	May	Jan	Dec	Jan	Nov	Mar	May	Feb	Aug
Price High	$10.55	$16.74	$18.92	$19.26	$25.09	$29.00	$27.05	$27.92	$28.25	$37.00	$41.00	$46.39	$52.00	$66.90				174.84%	<-Total Growth	10	Stock Price
Increase	-9.29%	58.67%	13.02%	1.80%	30.27%	15.58%	-6.72%	3.22%	1.18%	30.97%	10.81%	13.15%	12.09%	28.65%				13.24%	<-IRR #YR->	5	Stock Price	86.25%
P/E Ratio	14.86	15.08	15.90	13.38	10.81	9.09	-42.94	6.20	17.99	5.39	-23.30	2.10	12.68	22.45				10.64%	<-IRR #YR->	10	Stock Price	174.84%
Trailing P/E Ratio	34.03	23.58	17.05	16.18	17.42	12.50	8.48	-44.32	6.28	23.57	5.97	-26.36	2.35	16.32				15.90	P/E Ratio		Historical Median
Median 10, 5 Yrs								T P/E	7.38	5.97	P/E:	7.65	5.39					42.43	P/E Ratio		Historical High
								-$27.92	$0.00	$0.00	$0.00	$0.00	$52.00
			-$18.92	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$52.00
Low Months	Jun	Jan	Feb	Jan	Feb	Dec	Dec	Jan	Mar	Jan	Oct	Jan	Oct	Apr
Price Low	$9.00	$10.40	$15.00	$16.20	$15.58	$23.45	$20.63	$21.70	$16.00	$25.53	$24.55	$37.96	$39.00	$38.30				160.00%	<-Total Growth	10	Stock Price
Increase	3.09%	15.56%	44.23%	8.00%	-3.83%	50.51%	-12.03%	5.19%	-26.27%	59.56%	-3.84%	54.62%	2.74%	-1.79%				12.44%	<-IRR #YR->	5	Stock Price	79.72%
P/E Ratio	12.68	9.37	12.61	11.25	6.72	7.35	-32.75	4.82	10.19	3.72	-13.95	1.72	9.51	12.85				10.03%	<-IRR #YR->	10	Stock Price	160.00%
Trailing P/E Ratio	29.03	14.65	13.51	13.61	10.82	10.11	6.47	-34.44	3.56	16.26	3.57	-21.57	1.76	9.34				10.60	P/E Ratio		Historical Median
Median 10, 5 Yrs								T P/E	5.02	3.56	P/E:	5.77	3.72					-5.01	P/E Ratio		Historical Low
								-$21.70	$0.00	$0.00	$0.00	$0.00	$39.00
			-$15.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$39.00
Free Cash Flow Mkt Screener old								$35.34	$59.56	$87.44	$64.51	$79.28									Free Cash Flow Mkt Scr old
Free Cash Flow Mkt Screener								$90.66	-$10.02	$77.89	-$78.68	$251.40	$51.85	$70.00	$60.20						Free Cash Flow Mkt Screener
Change									-111.05%	877.35%	-201.01%	419.52%	-79.38%	35.00%	-14.00%						Change
Free Cash Flow WSJ									$70.39	$103.13	$88.14	$89.04	$85.55
Change										46.51%	-14.54%	1.03%	-3.92%
														$57	<-12 mths	-19.90%
Free Cash Flow MS			$32.84	$35.43	$33.92	$37.33	$18.22	$43.44	$53.42	$69.38	$57.64	$70.99	$70.99	$70.00	$60.20			116.17%	<-Total Growth	10	Free Cash Flow
Change				7.89%	-4.26%	10.05%	-51.19%	138.42%	22.97%	29.88%	-16.92%	23.16%	0.00%	-1.39%	-14.00%			10.32%	<-IRR #YR->	5	Free Cash Flow MS	63.42%
FCF/CF from Op Ratio			0.86	1.05	0.80	0.84	0.39	0.88	0.74	0.67	0.71	0.87	0.76	1.32	#VALUE!			8.01%	<-IRR #YR->	10	Free Cash Flow MS	116.17%
Free Cash Flow Yield			0.06	0.06	0.04	0.05	0.03	0.06	0.07	0.07	0.06	0.06	0.07	0.04	0.04			6.01%	<-Median->	10	Free Cash Flow Yield
Dividends paid			$7.25	$8.65	$9.74	$11.10	$13.28	$15.55	$16.81	$18.53	$23.26	$31.62	$35.56	$37.96	$38.45			390.79%	<-Total Growth	10	Dividends paid
Percentage paid			22.06%	24.41%	28.70%	29.73%	72.91%	35.79%	31.46%	26.71%	40.35%	44.54%	50.10%	54.22%	63.87%			$0.34	<-Median->	10	Percentage paid
5 Year Coverage							31.71%	34.64%	35.68%	33.94%	36.11%	35.87%	39.01%	43.34%	50.59%						5 Year Coverage
Dividend Coverage Ratio			4.53	4.10	3.48	3.36	1.37	2.79	3.18	3.74	2.48	2.24	2.00	1.84	1.57			2.99	<-Median->	10	Dividend Coverage Ratio
5 Year of Coverage							3.15	2.89	2.80	2.95	2.77	2.79	2.56	2.31	1.98						5 Year of Coverage
								-$43	$0	$0	$0	$0	$71
			-$33	$0	$0	$0	$0	$0	$0	$0	$0	$0	$71
Market Cap in $M	$343.6	$501.6	$571.9	$570.5	$755.4	$785.6	$626.6	$747.5	$747.6	$940.7	$1,019.2	$1,116.7	$1,051.2	$1,650.4	$1,650.4	$1,676.0		83.82%	<-Total Growth	10	Market Cap	83.82%
Diluted # of Shares in Millions	32.21	31.58	31.47	30.87	30.02	29.42	26.85	27.47	27.11	26.86	24.43	25.52	24.79	24.88	24.88	24.88		-26.93%	<-Total Growth	10	Diluted # of Shares in Million
Change	-0.84%	-1.95%	-0.36%	-1.92%	-2.72%	-2.03%	-8.74%	2.31%	-1.29%	-0.92%	-9.07%	4.50%	-2.86%	0.34%	0.00%	0.00%		-2.36%	<-IRR #YR->	10	Change
Difference Diluted/Basic	-2.2%	-3.3%	-4.1%	-4.6%	-5.2%	-5.6%	0.0%	-6.1%	-6.2%	-6.7%	0.0%	-6.8%	-6.2%	-6.3%	-6.3%	-6.3%		-2.03%	<-IRR #YR->	5	Difference Diluted/Basic
Change in Diluted Shares per Year
			-31.5	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	24.8
								-27.5	0.0	0.0	0.0	0.0	24.8
Calc Average #
Basic # of Shares in Millions	31.50	30.53	30.18	29.46	28.48	27.78	26.85	25.80	25.44	25.07	24.43	23.78	23.27	23.32	23.32	23.32		-29.70%	<-Total Growth	10	Basic
Change	-2.42%	-3.06%	-1.17%	-2.38%	-3.33%	-2.45%	-3.36%	-3.91%	-1.39%	-1.45%	-2.56%	-2.64%	-2.17%	0.21%	0.00%	0.00%		-2.50%	<-Median->	10	Change
Difference Basic/Outstanding	4.91%	6.34%	6.53%	6.36%	5.90%	6.28%	5.81%	7.92%	9.05%	7.52%	7.46%	6.09%	5.94%	5.71%	5.71%	5.71%		6.32%	<-Median->	10	Difference Basic/Outstanding
														$53	<-12 mths	-43.11%			Estimates		last 12 months from Qtr.
Class A	28.072	27.534	27.368	26.979	26.686	26.304	25.186	24.944	24.845	24.205	23.498	22.492	21.909	21.909	21.909	21.909
Common Shares	4.971	4.935	4.777	4.349	3.469	3.219	3.219	2.895	2.895	2.749	2.749	2.738	2.738	2.738	2.738	2.738
# of Share in Millions	33.043	32.469	32.145	31.328	30.155	29.523	28.405	27.839	27.740	26.954	26.247	25.230	24.647	24.647	24.647	24.647		-2.62%	<-IRR #YR->	10	Shares	-23.33%
Change	-2.36%	-1.74%	-1.00%	-2.54%	-3.74%	-2.10%	-3.79%	-1.99%	-0.36%	-2.83%	-2.62%	-3.87%	-2.31%	0.00%	0.00%	0.00%		-2.41%	<-IRR #YR->	5	Shares	-11.47%
Cash Flow from Operations $M	$23.9	$30.7	$38.1	$33.8	$42.5	$44.6	$47.1	$49.1	$71.8	$102.9	$81.2	$81.4	$93.3	$53.1	<-12 mths			144.89%	<-Total Growth	10	Cash Flow
Increase	12.73%	28.32%	24.17%	-11.31%	25.87%	4.99%	5.61%	4.18%	46.18%	43.28%	-21.03%	0.24%	14.54%	-43.11%	<-12 mths			Why increase	decrease
5 year Running Average	$16.8	$20.7	$26.2	$29.5	$33.8	$37.9	$41.2	$43.4	$51.0	$63.1	$70.4	$77.3	$86.1	$82.4	<-12 mths			229.07%	<-Total Growth	10	CF 5 Yr Running
CFPS	$0.72	$0.94	$1.18	$1.08	$1.41	$1.51	$1.66	$1.76	$2.59	$3.82	$3.09	$3.23	$3.78	$2.15	<-12 mths			219.39%	<-Total Growth	10	Cash Flow per Share
Increase	15.46%	30.59%	25.43%	-8.99%	30.77%	7.24%	9.76%	6.30%	46.70%	47.46%	-18.90%	4.28%	17.25%	-43.11%	<-12 mths			9.37%	<-IRR #YR->	10	Cash Flow	144.89%
5 year Running Average	$0.49	$0.62	$0.80	$0.91	$1.07	$1.23	$1.37	$1.48	$1.79	$2.27	$2.58	$2.90	$3.30	$3.21	<-12 mths			13.68%	<-IRR #YR->	5	Cash Flow	89.89%
P/CF on Med Price	13.51	14.37	14.32	16.44	14.42	17.34	14.36	14.06	8.55	8.19	10.59	13.07	12.02	24.43	<-12 mths			12.31%	<-IRR #YR->	10	Cash Flow per Share	219.39%
P/CF on Closing Price	14.38	16.36	15.02	16.89	17.77	17.60	13.29	15.22	10.41	9.15	12.55	13.72	11.27	31.10	<-12 mths			16.49%	<-IRR #YR->	5	Cash Flow per Share	114.49%
															129.28%	Diff M/C		15.30%	<-IRR #YR->	10	CFPS 5 yr Running	315.15%
														$39.09	<-12 mths	-16.31%
Excl.Working Capital CF	$0.9	$1.3	$5.2	$15.5	$8.2	$9.8	$25.4	$16.8	$3.9	$3.4	$16.7	$7.2	-$46.6	$0.0	<-12 mths			17.33%	<-IRR #YR->	5	CFPS 5 yr Running	122.39%
Cash Flow from Operations $M WC	$24.8	$32.0	$43.3	$49.3	$50.7	$54.4	$72.6	$65.9	$75.7	$106.3	$98.0	$88.7	$46.7	$53.1	<-12 mths			7.83%	<-Total Growth	10	Cash Flow less WC
Increase	17.27%	29.25%	35.33%	13.85%	2.79%	7.33%	33.42%	-9.15%	14.76%	40.46%	-7.84%	-9.50%	-47.32%	13.61%	<-12 mths			0.76%	<-IRR #YR->	10	Cash Flow less WC	7.83%
5 year Running Average	$19.7	$22.6	$27.7	$34.1	$40.0	$45.9	$54.1	$58.6	$63.9	$75.0	$83.7	$86.9	$83.1	$78.5	<-12 mths			-6.67%	<-IRR #YR->	5	Cash Flow less WC	-29.18%
CFPS Excl. WC	$0.75	$0.99	$1.35	$1.57	$1.68	$1.84	$2.56	$2.37	$2.73	$3.94	$3.73	$3.51	$1.89	$2.15	<-12 mths			11.62%	<-IRR #YR->	10	CF less WC 5 Yr Run	200.23%
Increase	20.11%	31.54%	36.69%	16.82%	6.78%	9.63%	38.68%	-7.30%	15.17%	44.55%	-5.36%	-5.85%	-46.08%	13.61%	<-12 mths			7.23%	<-IRR #YR->	5	CF less WC 5 Yr Run	41.78%
5 year Running Average	$0.57	$0.67	$0.84	$1.06	$1.27	$1.49	$1.80	$2.00	$2.24	$2.69	$3.07	$3.26	$3.16	$3.05	<-12 mths			3.47%	<-IRR #YR->	10	CFPS - Less WC	40.63%
P/CF on Median Price	13.04	13.77	12.59	11.26	12.10	14.23	9.33	10.47	8.11	7.93	8.78	12.00	24.01	24.43	<-12 mths			-4.37%	<-IRR #YR->	5	CFPS - Less WC	-20.01%
P/CF on Closing Price	13.88	15.67	13.20	11.57	14.90	14.44	8.63	11.33	9.88	8.85	10.40	12.60	22.51	31.10	<-12 mths			14.15%	<-IRR #YR->	10	CFPS 5 yr Running	275.76%
*Operational Cash Flow.			CF/-WC	P/CF Med	10 yr	13.57	5 yr	10.59	P/CF Med	10 yr	10.87	5 yr	8.78		186.18%	Diff M/C		9.55%	<-IRR #YR->	5	CFPS 5 yr Running	57.79%
			-32.1	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	24.6								Shares
								-27.8	0.0	0.0	0.0	0.0	24.6								Shares
			-$38.1	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$93.3								Cash Flow
								-$49.1	$0.0	$0.0	$0.0	$0.0	$93.3								Cash Flow
			-$1.18	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$3.78								Cash Flow per Share
								-$1.76	$0.00	$0.00	$0.00	$0.00	$3.78								Cash Flow per Share
			-$0.80	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$3.30								CFPS 5 yr Running
								-$1.48	$0.00	$0.00	$0.00	$0.00	$3.30								CFPS 5 yr Running
			-$43.3	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$46.7								Cash Flow less WC
								-$65.9	$0.0	$0.0	$0.0	$0.0	$46.7								Cash Flow less WC
			-$27.7	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$83.1								CF less WC 5 Yr Run
								-$58.6	$0.0	$0.0	$0.0	$0.0	$83.1								CF less WC 5 Yr Run
			-$1.35	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$1.89								CFPS - Less WC
								-$2.37	$0.00	$0.00	$0.00	$0.00	$1.89								CFPS - Less WC
			-$0.84	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$3.16								CFPS 5 yr Running
								-$2.00	$0.00	$0.00	$0.00	$0.00	$3.16								CFPS 5 yr Running
Income Tax Paid	-$2.56	-$3.97	-$6.23	-$9.86	-$10.62	-$11.19	-$10.32	-$8.74	-$12.63	-$21.50	-$23.61	-$15.52	$10.83
Net Change in NonCash WC	$1.70	$2.63	$1.00	-$5.68	$2.45	$1.43	-$15.12	-$8.10	$8.74	$18.07	$6.88	$8.28	$35.73
Change in Working Capital	-$0.9	-$1.3	-$5.2	-$15.5	-$8.2	-$9.8	-$25.4	-$16.8	-$3.9	-$3.4	-$16.7	-$7.2	$46.6
TD								-$17	-$4	-$3	-$17	-$7
Difference								$0	$0	$0	$0	$0
																		For banks, use Net Income, not CF
OPM Ratio	28.11%	30.28%	31.93%	25.41%	29.80%	29.52%	27.49%	26.39%	33.27%	36.08%	40.41%	33.76%	28.84%	14.00%				-10.72%	<-Total Growth	10	OPM
Increase	-2.30%	7.74%	5.44%	-20.41%	17.25%	-0.94%	-6.88%	-3.99%	26.06%	8.45%	12.01%	-16.47%	-14.58%	-51.45%					Should increase		or be stable.
Diff from Median	-5%	2%	8%	-14%	0%	0%	-7%	-11%	12%	22%	36%	14%	-3%	-53%				0.00	<-Median->	10	OPM
*Operational Profit Margin (CF/Revenue) Ratio									OPM	10 Yrs	29.66%	5 Yrs	33.76%					should be	zero, it is a		check on calculations
														$59	<-12 mths	-13.88%
EBITDA (Attri. Shareholders)	$25.18	$32.31	$42.89	$47.83	$49.55	$52.75	$56.19	$63.21	$70.33	$107.64	$59.85	$82.25	$68.25	$74.00	$93.00	$108.00		59.11%	<-Total Growth	10	Adjusted EBITDA
Change	18.21%	28.29%	32.76%	11.50%	3.60%	6.47%	6.51%	12.51%	11.25%	53.06%	-44.39%	37.41%	-17.02%	8.43%	25.68%	16.13%		8.88%	<-Median->	10	Change
EBITDA Margin	29.62%	31.90%	35.96%	35.98%	34.73%	34.88%	32.76%	33.97%	32.59%	37.76%	29.78%	34.10%	21.10%	19.53%	23.31%	25.71%		0.34	<-Median->	10	EBITDA Margin
EBITDA per Share	$0.78	$1.04	$1.38	$1.56	$1.66	$1.80	$1.99	$2.32	$2.60	$3.61	$2.32	$3.29	$2.82
Change	18.18%	33.33%	32.69%	13.04%	6.41%	8.43%	10.56%	16.58%	12.07%	38.85%	-35.73%	41.81%	-14.29%
Covering Assets	$29.88	$577.13	$90.96	$134.91	$214.72	$107.21	$722.16	$837.98	$776.51	$999.10	$847.65	$1,516.43	$1,572.19	$1,545.35
Change	-3.24%	1831.67%	-84.24%	48.32%	59.15%	-50.07%	573.59%	16.04%	-7.34%	28.67%	-15.16%	78.90%	3.68%	-1.71%
Debt/Covering Assets	1.88	0.27	1.24	1.24	1.12	1.07	0.28	0.28	0.25	0.34	0.30	0.16	0.23	0.23
Long Term Debt	$56.12	$155.46	$113.06	$167.44	$239.48	$114.20	$201.50	$234.41	$197.93	$335.26	$255.54	$245.66	$357.28	$360.02				216.01%	<-Total Growth	10	Debt	Type
Change	0.00%	177.01%	-27.27%	48.10%	43.02%	-52.31%	76.45%	16.33%	-15.56%	69.39%	-23.78%	-3.87%	45.43%	0.77%				29.68%	<-Median->	10	Change	Lg Term R
Debt/Market Cap Ratio	0.16	0.31	0.20	0.29	0.32	0.15	0.32	0.31	0.26	0.36	0.25	0.22	0.34	0.22				0.30	<-Median->	10	Debt/Market Cap Ratio	Intang/GW
Assets/Current Liabilities Ratio	4.42	3.51	3.81	3.25	2.85	4.15	3.23	3.25	3.26	2.96	2.68	4.18	3.71	4.08				3.25	<-Median->	10	Assets/Current Liab Ratio	Liquidity
Current Liabilities/Asset Ratio	0.23	0.29	0.26	0.31	0.35	0.24	0.31	0.31	0.31	0.34	0.37	0.24	0.27	0.25				0.31	<-Median->	10	Current Liab/Asset Ratio	Liq. + CF
Debt to Cash Flow (Years)	2.35	5.07	2.97	4.96	5.63	2.56	4.27	4.77	2.76	3.26	3.15	3.02	3.83	6.79				3.55	<-Median->	10	Debt to Cash Flow (Years)	Liq.+CF+D
																						Debt Ratio
Intangibles	$19.59	$20.61	$23.79	$28.38	$29.39	$29.58	$120.48	$129.81	$161.19	$168.21	$96.89	$85.39	$161.93	$148.72				580.63%	<-Total Growth	10	Intangibles	Leverage
Goodwill	$11.11	$11.11	$12.30	$15.01	$15.01	$15.01	$34.76	$40.64	$60.23	$66.64	$42.52	$41.63	$87.82	$83.97				614.07%	<-Total Growth	10	Goodwill	D/E Ratio
Total	$30.71	$31.72	$36.09	$43.39	$44.40	$44.59	$155.24	$170.45	$221.42	$234.86	$139.41	$127.02	$249.75	$232.69				592.03%	<-Total Growth	10	Total
Change	16.27%	3.31%	13.77%	20.23%	2.33%	0.43%	248.16%	9.80%	29.90%	6.07%	-40.64%	-8.89%	96.63%	-6.83%				7.93%	<-Median->	10	Change
Intangible/Market Cap Ratio	0.09	0.06	0.06	0.08	0.06	0.06	0.25	0.23	0.30	0.25	0.14	0.11	0.24	0.14				0.18	<-Median->	10	Intangible/Market Cap Ratio
Current Assets	$92.7	$155.5	$168.3	$215.0	$311.7	$209.7	$199.8	$257.4	$282.7	$424.6	$538.9	$262.3	$439.3	$361.5				161.07%	<-Total Growth	10	Current Assets
Current Liabilities	$115.6	$184.0	$193.2	$247.7	$344.3	$219.9	$305.7	$348.2	$353.8	$482.9	$509.5	$414.1	$526.1	$465.7				172.33%	<-Total Growth	10	Current Liabilities
Liquidity Ratio	0.80	0.85	0.87	0.87	0.91	0.95	0.65	0.74	0.80	0.88	1.06	0.63	0.84	0.78				0.85	<-Median->	10	Ratio
Liq. with CF aft div	0.96	0.96	1.02	0.97	1.00	1.10	0.76	0.83	0.95	1.05	1.17	0.75	0.94	0.81				0.95	<-Median->	5	Liq. with CF aft div
Liq. with CF aft div (WC)	0.97	0.97	1.05	1.03	1.02	1.14	0.85	0.89	0.97	1.06	1.20	0.79	0.87	0.83							Liq. with CF aft div (WC)
Liq. CF re  Inv+Div	0.96	0.91	0.94	0.88	0.80	0.75	0.47	0.86	0.83	0.91	0.93	0.82	0.91	0.79				0.91	<-Median->	5	Liq. CF re  Inv+Div
Curr Long Term Debt	$0.000	$0.000	$0.000	$0.000	$0.000	$0.000	$0.000	$0.000	$0.000	$0.000	$0.000	$0.000	$357.3	$360.020				$0.0	<-Median->	5	Curr Long Term Debt
Liquidity Less CLTD	0.80	0.85	0.87	0.87	0.91	0.95	0.65	0.74	0.80	0.88	1.06	0.63	2.60	3.42				0.88	<-Median->	5	Liquidity Less CLTD
Liq. with CF aft div	0.96	0.96	1.02	0.97	1.00	1.10	0.76	0.83	0.95	1.05	1.17	0.75	2.94	3.57				1.05	<-Median->	5	Liq. with CF aft div
Assets	$510.8	$645.1	$736.8	$804.6	$982.3	$912.5	$988.9	$1,130.0	$1,153.6	$1,428.7	$1,364.8	$1,733.0	$1,952.4	$1,898.5				165.00%	<-Total Growth	10	Assets
Liabilities	$153.0	$227.3	$244.5	$296.1	$396.8	$271.3	$376.9	$435.8	$435.9	$576.1	$581.9	$490.1	$635.4	$577.0				159.86%	<-Total Growth	10	Liabilities
Debt Ratio	3.34	2.84	3.01	2.72	2.48	3.36	2.62	2.59	2.65	2.48	2.35	3.54	3.07	3.29				2.64	<-Median->	10	Ratio
Estimates BVPS													$87.20	$92.80	$87.10				Estimates		Estimates BVPS
Estimate Book Value													$2,149.2	$2,287.2	$2,146.8				Estimates		Estimate Book Value
P/B Ratio (Close)													0.49	0.72	0.77				Estimates		P/B Ratio (Close)
Difference from 10 year median														#VALUE!	Diff M/C				Estimates		Difference from 10 yr med.
Comment
Book Value	$357.8	$417.8	$492.2	$508.5	$585.5	$641.2	$612.0	$694.2	$717.7	$852.6	$782.9	$1,242.9	$1,317.0	$1,321.5
Other Equity Interest	$4.0	$2.8	$3.4	$4.3	$5.3	$6.8	$12.7	$11.4	$18.1	$14.1	$15.0	$2.1	-$1.0	-$1.8
Book Value	$353.8	$415.0	$488.8	$504.3	$580.2	$634.4	$599.3	$682.8	$699.6	$838.5	$767.9	$1,240.9	$1,318.0	$1,323.4	$1,323.4	$1,323.4		169.62%	<-Total Growth	10	Book Value
Book Value per share	$10.71	$12.78	$15.21	$16.10	$19.24	$21.49	$21.10	$24.53	$25.22	$31.11	$29.26	$49.18	$53.48	$53.69	$53.69	$53.69		251.65%	<-Total Growth	10	Book Value per Share
Increase	12.31%	19.38%	18.98%	5.84%	19.53%	11.69%	-1.82%	16.24%	2.83%	23.35%	-5.96%	68.11%	8.73%	0.41%	0.00%	0.00%		13.22%	P/B Ratio		Current/Historical Median
P/B Ratio (Median)	0.91	1.06	1.12	1.10	1.06	1.22	1.13	1.01	0.88	1.01	1.12	0.86	0.85	0.98	0.00	0.00		1.10	P/B Ratio		Historical Median
P/B Ratio (Close)	0.97	1.21	1.17	1.13	1.30	1.24	1.05	1.09	1.07	1.12	1.33	0.90	0.80	1.25	1.25	1.27		13.40%	<-IRR #YR->	10	Book Value per Share	251.65%
Change	-3.54%	24.44%	-3.23%	-3.29%	15.08%	-4.89%	-15.57%	4.71%	-2.39%	4.98%	18.31%	-32.20%	-11.37%	56.36%	0.00%	1.55%		16.87%	<-IRR #YR->	5	Book Value per Share	118.04%
Median 10 year P/B Ratio	1.29	1.19	1.09	1.08	1.06	1.06	1.06	1.06	1.06	1.06	1.08	1.08	1.03	1.01	0.99	0.93		1.06	<-Median->	5	Median 10 year P/B Ratio
Leverage (A/BK)	1.44	1.55	1.51	1.60	1.69	1.44	1.65	1.65	1.65	1.70	1.78	1.40	1.48	1.43				1.65	<-Median->	5	A/BV
Debt/Equity Ratio	0.43	0.55	0.50	0.59	0.68	0.43	0.63	0.64	0.62	0.69	0.76	0.39	0.48	0.44				0.62	<-Median->	5	Debt/Eq Ratio
Shareholders' Equity (Assets less Liabilities)									P/B Ratios	10 yr Med	1.03	5 yr Med	0.88		20.58%	Diff M/C		1.44	Historical		Leverage (A/BK)
			-$15.21	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$53.48
								-$24.53	$0.00	$0.00	$0.00	$0.00	$53.48
														$150.02	<-12 mths	11.04%			Estimates		last 12 months from Qtr.
Total Comprehensive Income	$45.06	$81.49	$87.85	$39.57	$109.89	$81.54	$10.60	$111.79	$38.65	$187.99	-$16.07	$646.18	$137.44
NCI	$0.20	$0.31	$0.60	$0.87	$1.10	$1.50	$5.40	$2.02	$3.02	$6.21	$7.75	$94.02	$2.33
Shareholders	$44.85	$81.18	$87.25	$38.70	$108.79	$80.05	$5.21	$109.77	$35.63	$181.78	-$23.82	$552.16	$135.10					54.84%	<-Total Growth	10	Comprehensive Income
Increase	19105.51%	80.98%	7.48%	-55.65%	181.13%	-26.42%	-93.50%	2008.07%	-67.54%	410.15%	-113.10%	2418.54%	-75.53%					-67.54%	<-Median->	5	Comprehensive Income
5 Yr Running Average	$74	$91	$83	$50	$72	$79	$64	$69	$68	$82	$62	$171	$176					4.47%	<-IRR #YR->	10	Comprehensive Income	54.84%
ROE	12.7%	19.6%	17.8%	7.7%	18.8%	12.6%	0.9%	16.1%	5.1%	21.7%	0.0%	44.5%	10.3%					4.24%	<-IRR #YR->	5	Comprehensive Income	23.08%
5Yr Median	12.7%	19.6%	17.8%	12.7%	17.8%	17.8%	12.6%	12.6%	12.6%	12.6%	5.1%	16.1%	10.3%					7.87%	<-IRR #YR->	10	5 Yr Running Average	113.27%
% Difference from Net Income	98.85%	135.76%	135.71%	-12.26%	56.59%	-14.56%	0.00%	-10.85%	-15.88%	-1.34%	0.00%	-1.91%	34.97%					20.79%	<-IRR #YR->	5	5 Yr Running Average	157.17%
Median Values										Diff	5, 10 yr	-1.6%	-1.3%					10.3%	<-Median->	5	Return on Equity
			-$87.3	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$135.1
								-$109.8	$0.0	$0.0	$0.0	$0.0	$135.1
			-$82.6	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$176.2
								-$68.5	$0.0	$0.0	$0.0	$0.0	$176.2
Current Liability Coverage Ratio	0.21	0.17	0.22	0.20	0.15	0.25	0.24	0.19	0.21	0.22	0.19	0.21	0.09	0.11							CFO / Current Liabilities
5 year Median	0.19	0.19	0.19	0.20	0.20	0.20	0.22	0.20	0.21	0.22	0.21	0.21	0.21	0.19				0.21	<-Median->	10	Current Liability Cov Ratio
Asset Efficiency Ratio	4.85%	4.96%	5.88%	6.13%	5.16%	5.96%	7.34%	5.84%	6.56%	7.44%	7.18%	5.12%	2.39%	2.79%							CFO / Total Assets
5 year Median	4.50%	4.50%	4.85%	4.96%	5.16%	5.88%	5.96%	5.96%	5.96%	6.56%	7.18%	6.56%	6.56%	5.12%				6.0%	<-Median->	10	Return on Assets
Return on Assets ROA	4.42%	5.34%	5.02%	5.48%	7.07%	10.27%	-1.71%	10.90%	3.67%	12.90%	-3.16%	32.48%	5.13%	3.90%				Net	Income/Assets		Return on Assets
5Yr Median	3.25%	3.25%	4.42%	5.02%	5.34%	5.48%	5.48%	7.07%	7.07%	10.27%	3.67%	10.90%	5.13%	5.13%				6.3%	<-Median->	10	Asset Efficiency Ratio
Return on Equity ROE	6.38%	8.30%	7.57%	8.75%	11.97%	14.77%	0.00%	18.03%	6.05%	21.97%	0.00%	45.37%	7.59%	5.60%				Net Inc/	Shareholders' equity		Return on Equity
5Yr Median	4.49%	4.57%	6.38%	7.57%	8.30%	8.75%	8.75%	11.97%	11.97%	14.77%	6.05%	18.03%	7.59%	7.59%				10.4%	<-Median->	10	Return on Equity
														$150	<-12 mths	50.11%			Estimates		Last 12 months from Qtr
Net Income	$22.76	$34.74	$37.61	$44.98	$70.58	$95.19	-$13.61	$126.46	$46.07	$190.74	-$37.32	$657.10	$101.60
NCI	$0.20	$0.31	$0.60	$0.87	$1.10	$1.50	$3.35	$3.34	$3.71	$6.50	$5.76	$94.17	$1.50
Shareholders	$22.56	$34.43	$37.02	$44.11	$69.48	$93.69	-$16.95	$123.12	$42.36	$184.24	-$43.08	$562.93	$100.10	$74.13	$51.00			170.41%	<-Total Growth	10	Net Income
Increase	125.49%	52.65%	7.51%	19.15%	57.52%	34.86%	-118.09%	826.29%	-65.60%	334.96%	-123.38%	1406.77%	-82.22%	-25.94%	-31.21%			EPS/CF Ratio should not be higher than 1.00
5 Yr Running Average	$13.8	$19.3	$23.8	$29.6	$41.5	$55.7	$45.5	$62.7	$62.3	$85.3	$58	$174	$169	$176	$149			10.46%	<-IRR #YR->	10	Net Income	170.41%
Operating Cash Flow	$23.9	$30.7	$38.1	$33.8	$42.5	$44.6	$47.1	$49.1	$71.8	$102.9	$81.2	$81.4	$93.3	$53.1	<-12 mths			-4.06%	<-IRR #YR->	5	Net Income	-18.70%
Investment Cash Flow	$6.3	-$11.3	-$17.8	-$25.4	-$88.3	-$113.4	-$101.1	$7.5	-$37.5	-$88.0	-$45.5	$124.3	-$21.8	-$21.8	-$21.8			21.67%	<-IRR #YR->	10	5 Yr Running Average	611.05%
Total Accruals	-$7.7	$15.0	$16.8	$35.8	$115.3	$162.4	$37.1	$66.5	$8.1	$169.4	-$78.8	$357.2	$28.7	$42.9	#VALUE!			21.98%	<-IRR #YR->	5	5 Yr Running Average	170.08%
Total Assets	$510.8	$645.1	$736.8	$804.6	$982.3	$912.5	$988.9	$1,130.0	$1,153.6	$1,428.7	$1,364.8	$1,733.0	$1,952.4	$1,898.5	$0.0				Balance Sheet		Assets
Accruals Ratio	-1.50%	2.33%	2.28%	4.44%	11.74%	17.80%	3.75%	5.88%	0.70%	11.86%	-5.77%	20.61%	1.47%	2.26%	#VALUE!			1.47%	<-Median->	5	Ratio
EPS/CF Ratio (WC)	0.95	1.13	0.88	0.91	1.38	1.73	0.00	1.90	0.58	1.74	0.00	6.29	2.16	1.38	#VALUE!			1.56	<-Median->	10	EPS/CF Ratio
			-$37.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$100.1
								-$123.1	$0.0	$0.0	$0.0	$0.0	$100.1
			-$23.8	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$169.3
								-$62.7	$0.0	$0.0	$0.0	$0.0	$169.3
Change in Close	8.33%	48.56%	15.15%	2.36%	37.56%	6.23%	-17.10%	21.71%	0.37%	29.50%	11.26%	13.98%	-3.64%	57.00%	0.00%	1.55%			Count	26	Years of data
up/down						down	down		down		down	up	down						Count	6	23.08%
Meet Prediction?							Yes					yes						% right	Count	2	33.33%
Financial Cash Flow	-$14.2	-$10.6	-$20.7	-$17.3	$63.7	$62.8	$47.5	-$61.1	-$26.7	$1.9	-$54.6	-$185.3	-$23.0						C F Statement		Financial Cash Flow
Total Accruals	$6.6	$25.6	$37.5	$53.1	$51.6	$99.6	-$10.4	$127.6	$34.7	$167.5	-$24.2	$542.5	$51.6								Accruals
Accruals Ratio	1.29%	3.97%	5.09%	6.60%	5.25%	10.92%	-1.05%	11.29%	3.01%	11.73%	-1.77%	31.30%	2.64%					3.01%	<-Median->	5	Ratio
Cash	$18.2	$27.7	$27.8	$20.7	$38.0	$31.1	$25.2	$20.5	$28.5	$44.9	$26.5	$50.0	$101.6	$60.5							Cash
Cash per Share	$0.55	$0.85	$0.86	$0.66	$1.26	$1.05	$0.89	$0.74	$1.03	$1.67	$1.01	$1.98	$4.12	$2.46				$1.67	<-Median->	5	Cash per Share
Percentage of Stock Price	5.30%	5.53%	4.86%	3.62%	5.03%	3.96%	4.02%	2.75%	3.81%	4.77%	2.60%	4.48%	9.67%	3.67%				4.48%	<-Median->	5	% of Stock Price
Notes:
November 6, 2025.  Last estimates were for 2024, 2025, 2026 of $324.1M, $406M, $417.5M Revenue, $2.80, $1.84, $1.88 AEPS, $2.80, $1.84 , $1.88 EPS,
$0.64, $0.61, $0.61 Dividend, $73.9M, $70M, $60.2M FCF, $78.2M, $81.5M, $89.15M EBITDA, $87.20, $92.80, $87.10 BVPS,
Spreadsheeet started in December 2024
1962 Founded
Sector:
Finance, Financial Services.
What should this stock accomplish?
Would I buy this company and Why.
Why am I following this stock.
I read about this stock some years ago and when I was looking for a new stock to follow, it sounded interesting.
Why I bought this stock.
I was looking for interesting stocks for the TFSA.  This company looked like it might have potential so I bought it for my TFSA.
Dividends
Dividends are paid quarterly in Cycle 1 of January, April, July and October  Dividends are declared in one month for shareholders of record of two month hence and paid in the that month.
For example, the dividends declared on November 9, 2023 was for shareholders of record of January 11, 2024 and paid on January 18, 2024.
Misson Statement or closes thing I can find.
What I am looking for is a statement that the company wants to do well by their customers, employees, and community and and thereby earn shareholders a reasonable return.
For customers
For employees
For community
For investors
How they make their money.
Guardian Capital Group Ltd is a diversified financial services company. Geographically, the company operates in Canada, United Kingdom,
United States, and others, of which it derives maximum revenue from Canada.
Shares; '%, Value $M				From	Years	Div. Gth	Tot Ret	Cap Gain	Div.	check		Shares	%, Val $M	Shares	%, Val $M			Shares	%, Val $M		Update this each year??	Change
Date				2018	5	19.36%	17.63%	14.94%	2.69%	17.63%			2023	Dec	2024			Nov 6	2023
Mavroudis, George				2013	10	15.43%	13.24%	11.10%	2.14%	13.24%		0.088	3.22%	0.088	3.22%			0.088	3.22%	C		0.00%
CEO - Shares - Amount				2008	15	15.24%	19.30%	16.46%	2.84%	19.30%			$3.899		$3.757				$5.899	C
Shares - percentage				2003	20	14.78%	11.51%	9.86%	1.65%	11.51%		0.248	0.98%	0.452	1.83%			0.638	2.59%	A		41.23%
Shares - amount				1998	25	21.34%	10.40%	9.01%	1.39%	10.40%			$10.959		$19.265				$42.717	A
Options - percentage				1993	30	17.63%	14.30%	12.63%	1.68%	14.30%		0.635	2.52%	0.455	1.85%			0.297	1.20%			-34.75%
Options - amount				1990	33		15.22%	13.56%	1.67%	15.22%			$28.092		$19.402				$19.877
Yi, Donald												0.000	0.00%	0.000	0.00%			0.000	0.00%	C		#DIV/0!
CFO - Shares - Amount				From	Years	Div. Gth	Tot Ret	Cap Gain	Div.	check			$0.000		$0.000				$0.000	C
Shares - percentage				2019	5	20.11%	12.63%	9.70%	2.94%	12.64%		0.000	0.00%	0.000	0.00%			0.000	0.00%	A		#DIV/0!
Shares - amount				2014	10	18.75%	11.55%	9.14%	2.41%	11.55%			$0.000		$0.000				$0.000	A
Options - percentage				2009	15	16.33%	14.30%	11.83%	2.47%	14.30%		0.041	0.16%	0.045	0.18%			0.049	0.20%			10.56%
Options - amount				2004	20	23.88%	9.68%	7.94%	1.74%	9.68%			$1.822		$1.907				$3.310
				1999	25	22.03%	14.08%	11.80%	2.29%	14.08%
Turner, Matthew Dean				1994	30	20.24%	14.23%	12.25%	1.98%	14.23%		0.003	0.10%	0.003	0.10%			0.003	0.10%	C		0.00%
Officer - Shares - Amount				1990	34		14.87%	13.01%	1.86%	14.87%			$0.120		$0.115				$0.181	C
Shares - percentage												0.019	0.08%	0.020	0.08%			0.020	0.08%	A		0.00%
Shares - amount													$0.842		$0.832				$1.307	A
Options - percentage												0.049	0.19%	0.053	0.21%			0.057	0.23%			8.99%
Options - amount													$2.169		$2.241				$3.835
De Mara, Marilyn												0.000	0.00%	0.000	0.00%			0.000	0.00%	C		#DIV/0!
Director - Shares - Amount													$0.000		$0.000				$0.000	C
Shares - percentage												0.001	0.00%	0.001	0.00%			0.001	0.00%	A		0.00%
Shares - amount													$0.040		$0.038				$0.060	A
Options - percentage												0.000	0.00%	0.000	0.00%			0.000	0.00%			#DIV/0!
Options - amount													$0.000		$0.000				$0.000
Christodoulou, A. Michael												0.005	0.18%	0.005	0.18%			0.005	0.18%	C	Also an officer	0.00%
Director - Shares - Amount													$0.221		$0.213				$0.335	C
Shares - percentage												0.081	0.32%	0.101	0.41%			0.081	0.33%	A		-19.24%
Shares - amount													$3.597		$4.291				$5.441	A
Options - percentage												0.018	0.07%	0.019	0.08%			0.021	0.08%			6.10%
Options - amount													$0.812		$0.826				$1.375
Anas, James												0.009	0.31%	0.009	0.31%			0.009	0.31%	C		0.00%
Chairman - Shares - Amt													$0.376		$0.363				$0.569	C
Shares - percentage												0.017	0.07%	0.017	0.07%			0.017	0.07%	A		0.00%
Shares - amount													$0.770		$0.742				$1.165	A
Options - percentage												0.000	0.00%	0.000	0.00%			0.000	0.00%			#DIV/0!
Options - amount													$0.000		$0.000				$0.000
Increase in O/S Shares												0.065	0.24%	0.279	1.07%			0.103	0.42%		Average	6.88%
Due to Stock Options													$2.524		$12.349				$4.393
Book Value													$4.006		$4.485				$5.005
Insider Buying													-$0.039		-$0.022				$0.000
Insider Selling													$0.536		$0.000				$0.411
Net Insider Selling													$0.497		-$0.022				$0.411
Net Selling % of Market Cap													0.04%		0.00%				0.02%
Directors														9				9
Women														1	11%			1	11%
Minorities														0	0%			0	0%
Institutions/Holdings														11	2.25%			11	2.45%
Total Shares Held														0.560	2.27%			0.602	2.44%
Increase/Decrease 3 Mths														0.319	132.34%			-0.040	-6.16%
Starting No. of Shares														0.241				0.642
My Stock