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.														Q1 2026	<-Estimates
See my website on stocks or see my blog at the following sites.							https://spbrunner.com/stocks.html				https://spbrunner.blogspot.com/			3/31/26	<-Estimates
Hydro One Ltd					TSX	H	OTC	HRNNF	https://www.hydroone.com/			Fiscal Yr:	Dec 31
Year	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	12/31/28		Value	Description	#Y	Item	Total G
Accounting Rules			US GAAP	US GAAP	US GAAP	US GAAP	US GAAP	US GAAP	US GAAP	US GAAP	US GAAP	US GAAP	US GAAP	US GAAP	US GAAP	US GAAP					Accounting Rules
														$9,100	<-12 mths	0.65%			Estimates		last 12 months from Qtr.
Revenue*		$6,548	$6,538	$6,552	$5,990	$6,150	$6,480	$7,290	$7,225	$7,780	$7,844	$8,484	$9,041	$9,292	$9,557	$9,814		38.28%	<-Total Growth	10	Revenue
Increase		0.00%	-0.15%	0.21%	-8.58%	2.67%	5.37%	12.50%	-0.89%	7.68%	0.82%	8.16%	6.57%	2.78%	2.85%	2.69%		3.29%	<-IRR #YR->	10	Revenue	38.28%
5 year Running Average						$6,356	$6,342	$6,492	$6,627	$6,985	$7,324	$7,725	$8,075	$8,488	$8,844	$9,238		4.40%	<-IRR #YR->	5	Revenue	24.02%
Revenue per Share		$11.01	$10.99	$11.01	$10.06	$10.32	$10.86	$12.20	$12.08	$12.99	$13.09	$14.15	$15.07	$15.49	$15.93	$16.36		3.48%	<-IRR #YR->	7	5 yr Running Average	#DIV/0!
Increase			-0.15%	0.21%	-8.64%	2.58%	5.21%	12.35%	-0.99%	7.59%	0.76%	8.09%	6.50%	2.78%	2.85%	2.69%		4.46%	<-IRR #YR->	5	5 yr Running Average	24.37%
5 year Running Average						$10.68	$10.65	$10.89	$11.10	$11.69	$12.24	$12.90	$13.48	$14.16	$14.75	$15.40		3.21%	<-IRR #YR->	10	Revenue per Share	37.18%
P/S (Price/Sales) Med		0.00	2.03	2.20	2.32	2.00	2.13	2.10	2.47	2.65	2.81	3.02	3.19	3.63	0.00	0.00		4.32%	<-IRR #YR->	5	Revenue per Share	23.57%
P/S (Price/Sales) Close		1.96	2.03	2.14	2.23	1.94	2.30	2.36	2.71	2.79	3.03	3.13	3.62	3.83	3.72	3.39		3.38%	<-IRR #YR->	7	5 yr Running Average	#DIV/0!
P/S 10 Year Median		0.00	1.02	2.03	2.12	2.03	2.08	2.10	2.12	2.13	2.17	2.26	2.39	2.56	2.56	2.56		4.36%	<-IRR #YR->	5	5 yr Running Average	23.77%
*Revenue in M CDN $					P/S Med	20 yr	2.26	15 yr	2.26	10 yr	2.39	5 yr	2.81		59.80%	Diff M/C
			-$6,538.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$9,041.0
								-$7,290.0	$0.0	$0.0	$0.0	$0.0	$9,041.0
						-$6,355.6	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$8,074.8
								-$6,492.4	$0.0	$0.0	$0.0	$0.0	$8,074.8
			-$10.99	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$15.07
								-$12.20	$0.00	$0.00	$0.00	$0.00	$15.07
						-$10.68	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$13.48
								-$10.89	$0.00	$0.00	$0.00	$0.00	$13.48
Funds from Operations CDN$									$798.48	$858.84	$618.54	$654.72	$798.95	$1,285.53	$1,832.17
AFFO per Share basic									$1.33	$1.43	$1.03	$1.09	$1.33	$2.14	$3.05							TD Securities
Increase										7.52%	-27.97%	5.83%	22.02%	60.90%	42.52%							Report
5 year Running Average													$1.24	$1.40	$1.73			0.00%	<-IRR #YR->	4	AFFO	#DIV/0!
AFFO Yield									4.06%	3.94%	2.59%	2.46%	2.43%	3.61%	5.15%			0.00%	<-IRR #YR->	4	AFFO	#DIV/0!
Payout Ratio									79.14%	77.28%	113.48%	113.67%	98.76%	62.26%	43.69%			#NUM!	<-IRR #YR->	1	5 yr Running Average	#DIV/0!
5 year Running Average													96.46%	93.09%	86.37%			#NUM!	<-IRR #YR->	1	5 yr Running Average	#DIV/0!
Price/AFFO Median									22.42	24.10	35.75	39.24	36.15	26.29	-0.02			35.75	<-Median->	5	P/AFFO Med
Price/AFFO High									24.74	26.59	39.37	43.98	40.21	28.08	0.00			39.37	<-Median->	5	P/AFFO High
Price/AFFO Low									20.09	21.62	32.13	34.50	32.09	24.51	0.00			32.09	<-Median->	5	P/AFFO Low
Price/AFFO Close									24.60	25.36	38.54	40.61	41.08	27.70	19.43			38.54	<-Median->	5	P/AFFO Close
Trailing P/AFFO Close										27.27	27.76	42.98	50.13	44.56	27.70			35.37	<-Median->	4	Trailing P/AFFO Close
Median Values	DPR	10 Yrs	96.31%	5 Yrs	96.31%	P/CF	5 Yrs	in order	29.93	32.98	26.87	31.95		37.28%	Diff M/C						DPR 75% to 95% best
* Adjusted Funds from Operations
									-$1.33	$0.00	$0.00	$0.00	$1.33
									-$1.33	$0.00	$0.00	$0.00	$1.33
												$0.00	$1.24
												$0.00	$1.24
Funds from Operations CDN$		$1,293	-$1,479	$1,494	$1,579	$1,572	$1,532	$1,830	$2,041	$2,189	$2,150	$2,275	$2,630	$2,630	<-12 mths
FFO per Share basic		$2.71	-$2.98	$2.51	$2.65	$2.73	$2.57	$3.06	$3.41	$3.66	$3.59	$3.80	$4.39
FFO per Share Diluted		$2.71	-$2.98	$2.50	$2.64	$2.63	$2.56	$3.05	$3.40	$3.64	$3.58	$3.79	$4.38	$4.38	<-12 mths			246.93%	<-Total Growth	10	FFO
Increase			-210.11%	184.03%	5.54%	-0.51%	-2.70%	19.24%	11.45%	7.21%	-1.77%	5.79%	15.59%	15.59%	<-12 mths			10	0	10	Years of Data, EPS P or N	100.00%
5 year Running Average					$0.97	$1.50	$1.47	$2.68	$2.86	$3.06	$3.25	$3.49	$3.76	$3.95	<-12 mths			#NUM!	<-IRR #YR->	10	FFO	246.93%
FFO Yield		12.52%	-13.37%	10.62%	11.80%	13.13%	10.25%	10.60%	10.39%	10.05%	9.02%	8.56%	8.01%	7.39%	<-12 mths			7.49%	<-IRR #YR->	5	FFO	43.53%
Payout Ratio			0.00%	38.74%	32.92%	34.61%	37.31%	32.86%	30.96%	30.32%	32.65%	32.71%	30.00%	30.43%	<-12 mths			14.02%	<-IRR #YR->	7	5 yr Running Average	#DIV/0!
5 year Running Average						21.26%	28.72%	35.29%	33.73%	33.21%	32.82%	31.90%	31.33%	31.22%	<-12 mths			7.02%	<-IRR #YR->	5	5 yr Running Average	40.39%
Price/FFO Median		0.00	-7.49	9.69	8.83	7.86	9.05	8.41	8.77	9.46	10.28	11.29	10.98	12.85	<-12 mths			9.25	<-Median->	10	Price/FFO Median
Price/FFO High		0.00	-7.75	10.62	9.31	8.52	10.24	9.93	9.68	10.43	11.33	12.66	12.22	13.73	<-12 mths			10.34	<-Median->	10	Price/FFO High
Price/FFO Low		0.00	-7.23	8.76	8.35	7.20	7.85	6.88	7.86	8.48	9.24	9.93	9.75	11.98	<-12 mths			8.42	<-Median->	10	Price/FFO Low
Price/FFO Close		7.99	-7.48	9.42	8.48	7.62	9.75	9.43	9.62	9.95	11.09	11.69	12.48	13.54	<-12 mths			9.69	<-Median->	10	Price/FFO Close
Trailing P/FFO Close			8.24	-7.91	8.95	7.58	9.49	11.25	10.73	10.67	10.89	12.37	14.43	13.54	<-12 mths			10.70	<-Median->	10	Trailing P/FFO Close
Median Values	Historical	in order	8.94	10.09	8.10	9.53	P/FFO	5 Yrs	in order	10.28	11.33	9.24	11.09		31.63%	Diff M/C					DPR 75% to 95% best
* Funds from Operations
			$2.98	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$4.38
								-$3.05	$0.00	$0.00	$0.00	$0.00	$4.38
						-$1.50	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$3.76
								-$2.68	$0.00	$0.00	$0.00	$0.00	$3.76
Payout Ratio Adj EPS														61.28%	62.11%	64.66%			Estimates		Payout Ratio EPS	Does not always give an AEPS
Per Share														$2.25	<-12 mths	0.90%			Estimates		Last 12 months from Qtr
Adjusted Profit CDN$		$588	$576	$721	$694	$807	$918	$903	$965	$1,050	$1,085	$1,156	$1,339					132.55%	<-Total Growth	10	Adjusted Profit CDN$
Return on Equity ROE				7.51%	7.11%	8.81%	9.80%	8.57%	8.86%	9.29%	9.27%	9.56%	10.59%					9.07%	<-Median->	10	Return on Equity ROE
5Yr Median								8.57%	8.81%	8.86%	9.27%	9.27%	9.29%					9.07%	<-Median->	6	5 Yr Median
Basic		$1.23	$1.16	$1.21	$1.17	$1.35	$1.54	$1.51	$1.61	$1.75	$1.81	$1.93	$2.23					92.24%	<-Total Growth	10	AEPS
AEPS* Dilued		$1.23	$1.16	$1.21	$1.16	$1.35	$1.53	$1.51	$1.61	$1.75	$1.81	$1.92	$2.23	$2.27	$2.37	$2.38		92.24%	<-Total Growth	10	AEPS
Increase			-5.69%	4.31%	-4.13%	16.38%	13.33%	-1.31%	6.62%	8.70%	3.43%	6.08%	16.15%	1.79%	4.41%	0.42%		10	0	10	Years of Data, EPS P or N	100.00%
5 year Running Average						$1.22	$1.28	$1.35	$1.43	$1.55	$1.64	$1.72	$1.86	$2.00	$2.12	$2.23		6.75%	<-IRR #YR->	10	AEPS	92.24%
AEPS Yield			5.20%	5.13%	5.18%	6.74%	6.13%	5.25%	4.92%	4.82%	4.56%	4.34%	4.08%	3.83%	4.00%	4.29%		8.11%	<-IRR #YR->	5	AEPS	47.68%
Payout Ratio		0.00%	0.00%	80.17%	75.00%	67.41%	62.39%	66.38%	65.37%	63.15%	64.57%	64.53%	58.90%	58.70%	56.22%	55.98%		6.22%	<-IRR #YR->	7	5 yr Running Average	#DIV/0!
5 year Running Average						44.51%	56.99%	70.27%	67.31%	64.94%	64.37%	64.80%	63.31%	61.97%	60.58%	58.87%		6.63%	<-IRR #YR->	5	5 yr Running Average	37.87%
Price/AEPS Median		0.00	19.24	20.05	20.12	15.31	15.13	16.99	18.52	19.70	20.34	22.28	21.56	24.79	-0.03	0.00		19.87	<-Median->	10	Price/AEPS Median
Price/AEPS High		0.00	19.91	21.98	21.22	16.59	17.12	20.07	20.44	21.73	22.40	24.97	23.98	26.47	0.00	0.00		21.47	<-Median->	10	Price/AEPS High
Price/AEPS Low		0.00	18.56	18.12	19.02	14.02	13.13	13.91	16.60	17.67	18.28	19.58	19.14	23.11	0.00	0.00		17.90	<-Median->	10	Price/AEPS Low
Price/AEPS Close		17.58	19.22	19.49	19.31	14.84	16.31	19.05	20.32	20.73	21.93	23.06	24.50	26.11	25.01	23.33		19.91	<-Median->	10	Price/AEPS Close
Trailing P/AEPS Close			18.12	20.33	18.51	17.27	18.48	18.80	21.67	22.53	22.69	24.46	28.46	26.58	26.11	23.43		21.00	<-Median->	10	Trailing P/AEPS Close
Median Values	Historical	in order	19.47	20.83	17.90	19.40	P/CF	5 Yrs	in order	20.34	22.40	18.28	21.93		28.35%	Diff M/C					DPR 75% to 95% best
* Adjusted Earnings per Share
			-$1.16	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$2.23
								-$1.51	$0.00	$0.00	$0.00	$0.00	$2.23
						-$1.22	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$1.86
								-$1.35	$0.00	$0.00	$0.00	$0.00	$1.86
														$5.28	<-12 mths	136.77%			Estimates		Last 12 months from Qtr
Difference Basic and Diluted		0.00%	0.00%	0.00%	0.90%	0.00%	0.00%	0.34%	0.00%	0.00%	0.00%	0.52%	0.00%					0.00	<-Median->	10	Difference Basic and Diluted
EPS Basic		$1.53	$1.39	$1.21	$1.11	-$0.15	$1.30	$2.96	$1.61	$1.75	$1.81	$1.93	$2.23					84.30%	<-Total Growth	10	EPS Basic
EPS Diluted*		$1.53	$1.39	$1.21	$1.10	-$0.15	$1.30	$2.95	$1.61	$1.75	$1.81	$1.92	$2.23	$2.28	$2.38	$2.49		84.30%	<-Total Growth	10	EPS Diluted
Increase			-9.15%	-12.95%	-9.09%	-113.64%	966.67%	126.92%	-45.42%	8.70%	3.43%	6.08%	16.15%	2.15%	4.30%	4.71%		9	1	10	Years of Data, EPS P or N	90.00%
Earnings Yield			6.24%	5.13%	4.91%	-0.75%	5.21%	10.25%	4.92%	4.82%	4.56%	4.34%	4.08%	3.84%	4.01%	4.48%		4.84%	<-IRR #YR->	10	Earnings per Share	60.43%
5 year Running Average						$1.02	$0.97	$1.28	$1.36	$1.49	$1.88	$2.01	$1.86	$2.00	$2.12	$2.26		-5.44%	<-IRR #YR->	5	Earnings per Share	-32.29%
10 year Running Average											$1.45	$1.49	$1.57	$1.68	$1.81	$2.07		9.06%	<-IRR #YR->	7	5 yr Running Average	#DIV/0!
* Diluted ESP per share									E/P	10 Yrs	4.87%	5Yrs	4.56%					7.77%	<-IRR #YR->	5	5 yr Running Average	45.40%
			-$1.39	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$2.23
								-$2.95	$0.00	$0.00	$0.00	$0.00	$2.23
						-$1.02	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$1.86
								-$1.28	$0.00	$0.00	$0.00	$0.00	$1.86
Dividend*														$1.39	$1.47	$1.54			Estimates		Dividend*
Increase														5.90%	5.82%	4.55%			Estimates		Increase
Payout Ratio EPS														61.06%	61.95%	61.86%			Estimates		Payout Ratio EPS
Dividends paid before TSX Issue		$1.83	$0.56																		Dividends paid before TSX Issue
Special Dividends				$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*				$0.97	$0.87	$0.91	$0.95	$1.00	$1.05	$1.1051	$1.1688	$1.2390	$1.3135	$1.3324	$1.3324	$1.3324		50.98%	<-Total Growth	9	Dividends
Increase				0.00%	-10.31%	4.60%	4.89%	5.01%	5.01%	5.00%	5.76%	6.01%	6.01%	1.44%	0.00%	0.00%		8	1	9	Years of data, Count P, N	88.89%
Average Increases 5 Year Running								0.67%	4.20%	4.29%	4.49%	4.72%	4.96%	4.11%	2.80%	1.51%		4.39%	<-Median->	6	5 year Increases	% inc
Dividends 5 Yr Running								$0.94	$0.96	$1.00	$1.06	$1.11	$1.18	$1.23	$1.28	$1.31		22.75%	<-Total Growth	5	Dividends 5 Yr Running
Yield H/L Price				4.00%	3.73%	4.40%	4.12%	3.91%	3.53%	3.21%	3.17%	2.90%	2.73%	2.37%				3.63%	<-Median->	10	Yield H/L Price	Item
Yield on High  Price				3.65%	3.54%	4.06%	3.64%	3.31%	3.20%	2.91%	2.88%	2.58%	2.46%	2.22%				3.25%	<-Median->	10	Yield on High  Price	EPS
Yield on Low Price				4.42%	3.94%	4.81%	4.75%	4.77%	3.94%	3.57%	3.53%	3.30%	3.08%	2.54%				3.94%	<-Median->	10	Yield on Low Price	AFFO
Yield on Close Price				4.11%	3.88%	4.54%	3.83%	3.48%	3.22%	3.05%	2.94%	2.80%	2.40%	2.25%	2.25%	2.40%		3.35%	<-Median->	10	Yield on Close Price	FFO
Payout Ratio EPS				80.17%	79.09%	0.00%	73.42%	33.98%	65.37%	63.15%	64.57%	64.53%	58.90%	58.49%	56.08%	53.55%		$0.65	<-Median->	10	DPR EPS	AEPS
DPR EPS 5 Yr Running								73.43%	70.33%	67.35%	56.08%	55.46%	63.08%	61.66%	60.17%	58.00%		$0.65	<-Median->	6	DPR EPS 5 Yr Running	CFPS
Payout Ratio CFPS				34.85%	30.19%	34.43%	35.30%	29.51%	29.30%	29.28%	30.98%	29.31%	29.23%	28.90%	27.36%	26.92%		$0.30	<-Median->	10	DPR CF	FCF 1
DPR CF 5 Yr Running								32.66%	31.47%	31.19%	30.64%	29.67%	29.60%	29.50%	29.06%	28.29%		$0.31	<-Median->	6	DPR CF 5 Yr Running	FCF 2
Payout Ratio CFPS WC				32.41%	28.23%	34.87%	34.30%	27.28%	28.07%	28.46%	28.20%	26.99%	28.91%	28.90%	27.36%	26.92%		$0.28	<-Median->	10	DPR CF WC
DPR CF WC 5 Yr Running				0.00%	0.00%	0.00%	0.00%	31.08%	30.12%	30.09%	28.97%	27.78%	28.11%	28.29%	28.06%	27.80%		$0.28	<-Median->	10	DPR CF WC 5 Yr Running
Median Values	10 Yr Med	10 Yr Cl	3.63%	3.35%	5 Yr Med	5 Yr Cl	3.17%	2.94%	5 Yr Med	Payout	64.53%	29.30%	28.20%					5.56%	<-IRR #YR->	5	Dividends	31.05%
* Dividends per share	10 Yr Med	and Cur.	-38.06%	-32.90%	5 Yr Med	and Cur.	-29.18%	-23.64%	Last Div Inc --->		$0.3142	$0.3331	6.02%					3.43%	<-IRR #YR->	9	Dividends	#DIV/0!
Dividends Growth 15																		#NUM!	<-IRR #YR->	15	Dividends	#DIV/0!
Dividends Growth 5								-$1.00	$0.00	$0.00	$0.00	$0.00	$1.31								Dividends Growth 5
Dividends Growth 10				-$0.97	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$1.31								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	$1.31								Dividends Growth 15
Historical Dividends	Historical	High Div	4.80%	Low Div	2.47%	10 Yr High	4.80%	10 Yr Low	2.47%	Med Div	3.63%	Close Div	3.35%								Historical Dividends
High/Ave/Median Values	Curr diff	Exp.	-53.17%		-9.87%	Exp.	-53.17%		-8.99%	Exp.	-38.07%	Exp.	-32.90%								High/Ave/Median
Future Dividend Yield					Div Yield	2.95%	earning in	5	Years	at IRR of	5.56%	Div Inc.	31.05%								Future Dividend Yield
Future Dividend Yield					Div Yield	3.86%	earning in	10	Years	at IRR of	5.56%	Div Inc.	71.74%								Future Dividend Yield
Future Dividend Yield					Div Yield	5.06%	earning in	15	Years	at IRR of	5.56%	Div Inc.	125.06%								Future Dividend Yield
Future Dividend Paid					Div Paid	$1.75	earning in	5	Years	at IRR of	5.56%	Div Inc.	31.05%								Future Dividend Paid
Future Dividend Paid					Div Paid	$2.29	earning in	10	Years	at IRR of	5.56%	Div Inc.	71.74%								Future Dividend Paid
Future Dividend Paid					Div Paid	$3.00	earning in	15	Years	at IRR of	5.56%	Div Inc.	125.06%								Future Dividend Paid
Dividend Covering Cost					Total Div	$7.44	over	5	Years	at IRR of	5.56%	Div Cov.	12.56%								Dividend Covering Cost
Dividend Covering Cost					Total Div	$15.45	over	10	Years	at IRR of	5.56%	Div Cov.	26.08%								Dividend Covering Cost
Dividend Covering Cost					Total Div	$25.95	over	15	Years	at IRR of	5.56%	Div Cov.	43.79%								Dividend Covering Cost
Yield if held 5 years								4.49%	4.34%	4.74%	5.66%	5.35%	5.12%	4.47%	3.87%	3.62%		4.93%	<-Median->	6	Paid Median Price
Yield if held 10 years													5.89%	5.49%	5.71%	6.45%		5.89%	<-Median->	1	Paid Median Price
																			year 35		BMO, EMP, T, JNJ
Cost covered if held 5 years								21.09%	19.74%	21.53%	25.57%	24.06%	22.92%	20.66%	18.53%	17.79%		22.23%	<-Median->	6	Paid Median Price
Cost covered if held 10 years													47.44%	45.13%	48.90%	57.26%		47.44%	<-Median->	1	Paid Median Price
																				Yr	Item	Tot. Growth
Revenue Growth								$7,290	$7,225	$7,780	$7,844	$8,484	$9,041	$9,100	<-12 mths	0.65%		24.02%	<-Total Growth	5	Revenue Growth	24.02%
AEPS Growth								$1.51	$1.61	$1.75	$1.81	$1.92	$2.23	$2.25	<-12 mths	0.90%		47.68%	<-Total Growth	5	AEPS Growth	47.68%
Net Income Growth								$1,770	$965	$1,050	$1,085	$1,156	$1,339	$1,337	<-12 mths	-0.17%		-24.35%	<-Total Growth	5	Net Income Growth	-24.35%
Cash Flow Growth								$2,030	$2,149	$2,260	$2,260	$2,534	$2,695					32.76%	<-Total Growth	5	Cash Flow Growth	32.76%
Dividend Growth								$1.00	$1.05	$1.11	$1.17	$1.24	$1.31	$1.33	<-12 mths	1.44%		31.05%	<-Total Growth	5	Dividend Growth	31.05%
Stock Price Growth								$28.77	$32.72	$36.27	$39.70	$44.27	$54.64	$59.27	<-12 mths	8.47%		89.92%	<-Total Growth	5	Stock Price Growth	89.92%
Revenue Growth			$6,538	$6,552	$5,990	$6,150	$6,480	$7,290	$7,225	$7,780	$7,844	$8,484	$9,041	$9,292	<-this year	2.78%		38.28%	<-Total Growth	10	Revenue Growth	38.28%
AEPS Growth			$1.16	$1.21	$1.16	$1.35	$1.53	$1.51	$1.61	$1.75	$1.81	$1.92	$2.23	$2.27	<-this year	1.79%		92.24%	<-Total Growth	10	AEPS Growth	92.24%
Net Income Growth			$690	$721	$658	-$89	$778	$1,770	$965	$1,050	$1,085	$1,156	$1,339	$1,364	<-this year	1.87%		94.06%	<-Total Growth	10	Net Income Growth	94.06%
Cash Flow Growth			-$1,253	$1,656	$1,716	$1,575	$1,614	$2,030	$2,149	$2,260	$2,260	$2,534	$2,695	$2,765	<-this year	2.60%		315.08%	<-Total Growth	10	Cash Flow Growth	315.08%
Dividend Growth				$0.97	$0.87	$0.91	$0.95	$1.00	$1.05	$1.11	$1.17	$1.24	$1.31	$1.39	<-this year	5.90%		35.41%	<-Total Growth	9	Dividend Growth	35.41%
Stock Price Growth			$22.29	$23.58	$22.40	$20.03	$24.95	$28.77	$32.72	$36.27	$39.70	$44.27	$54.64	$59.27	<-this year	8.47%		145.13%	<-Total Growth	10	Stock Price Growth	145.13%
Dividends on Shares				$43.65	$39.15	$40.95	$42.95	$45.10	$47.36	$49.73	$52.60	$55.76	$59.11	$59.96	$59.96	$59.96		$476.36	No of Years	10	Total Dividends	12/31/16
Paid			$1,003.05	$1,061.10	$1,008.00	$901.35	$1,122.75	$1,294.65	$1,472.40	$1,632.15	$1,786.50	$1,992.15	$2,458.80	$2,667.15	$2,667.15	$2,498.85		$2,458.80	No of Years	10	Worth	$22.29
Total																		$2,935.16
			-$22.29	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$54.64					9.38%	<-IRR #YR->	10	Stock Price
			-$1,003.05	$43.65	$39.15	$40.95	$42.95	$45.10	$47.36	$49.73	$52.60	$55.76	$2,517.91					12.60%	<-IRR #YR->	10	Price & Dividend
																		3.22%	Dividend
Earnings less Dividends					$14.51	$1.00	$35.54	$7.85	$2.02	$2.44	$4.14	$4.47	$3.44					-76.28%	<-Total Growth	8	Dollar Test
Change in MV per Share					$40.85	$6.00	$206.43	$50.67	$9.14	$13.87	$19.67	$19.32	$25.87					$3.44	$25.87	8	Dollar Test
Ratio					2.82	6.00	5.81	6.45	4.52	5.69	4.75	4.32	7.52						651.79%		Dollar Test
Increase in Earnings 5 years									$0.40	$0.65	$1.96	$0.62	-$0.72					-280.00%	<-Total Growth	4	Increase in Earnings 5 years
Rate profits have increased									19.80%	26.69%	47.38%	13.86%	-20.92%					-205.70%	<-Total Growth	4	Rate profits have increased
Graham Number AEPS		$18.81	$20.34	$20.96	$20.69	$21.60	$23.25	$24.47	$25.68	$27.27	$28.20	$29.52	$32.53	$32.82	$33.53	$33.60		56.60%	<-Total Growth	10	Graham Number AEPS
Increase			8.16%	3.04%	-1.29%	4.42%	7.63%	5.25%	4.93%	6.20%	3.43%	4.66%	10.20%	0.89%	2.18%	0.21%		4.79%	<-Median->	10	Increase
Price/GP Ratio Med		0.00	1.10	1.16	1.13	0.96	1.00	1.05	1.16	1.26	1.31	1.45	1.48	1.71				1.16	<-Median->	10	Price/GP Ratio Med
Price/GP Ratio High		0.00	1.14	1.27	1.19	1.04	1.13	1.24	1.28	1.39	1.44	1.62	1.64	1.83				1.28	<-Median->	10	Price/GP Ratio High
Price/GP Ratio Low		0.00	1.06	1.05	1.07	0.88	0.86	0.86	1.04	1.13	1.17	1.27	1.31	1.60				1.06	<-Median->	10	Price/GP Ratio Low
Price/GP Ratio Close		1.15	1.10	1.13	1.08	0.93	1.07	1.18	1.27	1.33	1.41	1.50	1.68	1.81	1.77	1.65		1.22	<-Median->	10	Price/GP Ratio Close
Prem/Disc Close		14.97%	9.59%	12.51%	8.28%	-7.28%	7.31%	17.56%	27.43%	33.01%	40.77%	49.98%	67.98%	80.60%	76.75%	65.25%		22.50%	<-Median->	10	Graham Price
Graham Number EPS		$20.97	$22.26	$20.96	$20.15	$19.50	$21.43	$34.20	$25.68	$27.27	$28.20	$29.52	$32.53	$32.88	$33.58	$34.36		56.87%	<-Total Growth	10	Graham Number EPS
Increase			6.16%	-5.87%	-3.87%	-3.21%	9.91%	59.60%	-24.93%	6.20%	3.43%	4.66%	10.20%	1.07%	2.13%	2.33%		4.04%	<-Median->	10	Increase
Price/GP Ratio Med		0.00	1.00	1.16	1.16	1.06	1.08	0.75	1.16	1.26	1.31	1.45	1.48	1.71				1.16	<-Median->	10	Price/GP Ratio Med
Price/GP Ratio High		0.00	1.04	1.27	1.22	1.15	1.22	0.89	1.28	1.39	1.44	1.62	1.64	1.83				1.28	<-Median->	10	Price/GP Ratio High
Price/GP Ratio Low		0.00	0.97	1.05	1.10	0.97	0.94	0.61	1.04	1.13	1.17	1.27	1.31	1.60				1.07	<-Median->	10	Price/GP Ratio Low
Price/GP Ratio Close		1.03	1.00	1.13	1.11	1.03	1.16	0.84	1.27	1.33	1.41	1.50	1.68	1.80	1.77	1.62		1.22	<-Median->	10	Price/GP Ratio Close
Prem/Disc Close		3.08%	0.11%	12.51%	11.19%	2.72%	16.42%	-15.89%	27.43%	33.01%	40.77%	49.98%	67.98%	80.28%	76.52%	61.62%		21.92%	<-Median->	10	Graham Price
Based on EPS 3 Yrs EPS					$22.54	$20.65	$15.95	$17.25	$23.66	$28.81	$30.40	$27.96	$29.44	$30.70	$31.88	$33.00					Based on EPS 3 Yrs EPS
Increase						-8.39%	-22.75%	8.13%	37.17%	21.77%	5.53%	-8.02%	5.28%	4.29%	3.85%	3.49%		123.20%	<-Total Growth	7	Increase
Price/GP Ratio Med					1.04	1.00	1.45	1.49	1.26	1.20	1.21	1.53	1.63	1.83				126.03%	<-Median->	9	Price/GP Ratio Med
Price/GP Ratio High					1.09	1.08	1.64	1.76	1.39	1.32	1.33	1.71	1.82	1.96				1.39	<-Median->	9	Price/GP Ratio High
Price/GP Ratio Low					0.98	0.92	1.26	1.22	1.13	1.07	1.09	1.34	1.45	1.71				1.13	<-Median->	9	Price/GP Ratio Low
Price/GP Ratio Close					0.99	0.97	1.56	1.67	1.38	1.26	1.31	1.58	1.86	1.93	1.86	1.68		1.38	<-Median->	9	Price/GP Ratio Close
Prem/Disc Close					-0.61%	-2.99%	56.43%	66.81%	38.31%	25.90%	30.59%	58.31%	85.60%	93.05%	85.89%	68.29%		0.38	<-Median->	9	Graham Price
Month, Year	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	Dec-28		19.00	<Count Years>	11	Month, Year
Price Close		$21.62	$22.29	$23.58	$22.40	$20.03	$24.95	$28.77	$32.72	$36.27	$39.70	$44.27	$54.64	$59.27	$59.27	$55.53		151.36%	<-Total Growth	10	Stock Price
Increase			3.10%	5.79%	-5.00%	-10.58%	24.56%	15.31%	13.73%	10.85%	9.46%	11.51%	23.42%	8.47%	0.00%	-6.31%		19.81	<-Median->	10	CAPE (10 Yr P/E)
P/E Ratio		14.13	16.04	19.49	20.36	-133.53	19.19	9.75	20.32	20.73	21.93	23.06	24.50	26.02	24.95	22.32		13.69%	<-IRR #YR->	5	Stock Price	89.92%
Trailing P/E Ratio			14.57	16.96	18.51	18.21	-166.33	22.13	11.09	22.53	22.69	24.46	28.46	26.58	26.02	23.37		9.38%	<-IRR #YR->	10	Stock Price	145.13%
CAPE (10 Yr P/E)											18.78	19.81	20.81	21.61	22.13	21.02		16.87%	<-IRR #YR->	5	Price & Dividend	110.35%
Median 10, 5 Yrs		D.  per yr	3.22%	3.18%	% Tot Ret	23.51%	18.86%	T P/E	$20.32	$22.69	P/E:	$20.34	$21.93					12.60%	<-IRR #YR->	10	Price & Dividend	192.62%
Price 15		D.  per yr	2.79%		% Tot Ret	24.08%						CAPE Diff	31.34%					8.79%	<-IRR #YR->	11	Stock Price	#DIV/0!
Price & Dividend 15																		11.58%	<-IRR #YR->	11	Price & Dividend	#DIV/0!
Price  5								-$28.77	$0.00	$0.00	$0.00	$0.00	$54.64								Price  5
Price 10			-$22.29	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$54.64								Price 10
Price & Dividend 5								-$28.77	$1.05	$1.11	$1.17	$1.24	$55.95								Price & Dividend 5
Price & Dividend 10			-$22.29	$0.97	$0.87	$0.91	$0.95	$1.00	$1.05	$1.11	$1.17	$1.24	$55.95								Price & Dividend 10
Price  15		-$21.62	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$54.64								Price  15
Price & Dividend 15		-$21.62	$0.00	$0.97	$0.87	$0.91	$0.95	$1.00	$1.05	$1.11	$1.17	$1.24	$55.95								Price & Dividend 15
Price H/L Median			$22.32	$24.26	$23.34	$20.67	$23.15	$25.65	$29.82	$34.47	$36.82	$42.77	$48.08	$56.27	-6.31%			131.95%	<-Total Growth	10	Stock Price
Increase				8.72%	-3.81%	-11.44%	12.00%	10.82%	16.24%	15.61%	6.82%	16.16%	12.42%	17.03%	2.25%			13.39%	<-IRR #YR->	5	Stock Price	87.45%
P/E Ratio			16.05	20.05	21.21	-137.77	17.80	8.69	18.52	19.70	20.34	22.28	21.56	24.70	-4.06%			7.98%	<-IRR #YR->	10	Stock Price	115.46%
Trailing P/E Ratio			14.58	17.45	19.29	18.79	-154.30	19.73	10.11	21.41	21.04	23.63	25.04	25.23				16.98%	<-IRR #YR->	5	Price & Dividend	87.45%
P/E on Running 5 yr Average						20.34	23.86	20.01	21.89	23.10	19.54	21.30	25.79	28.17				11.36%	<-IRR #YR->	10	Price & Dividend	162.90%
P/E on Running 10 yr Average											25.39	28.72	30.57	33.50				19.70	P/E Ratio		Historical Median	110.37%
Median 10, 5 Yrs		D.  per yr	3.59%	3.38%	% Tot Ret	21.13%	29.77%	T P/E	19.51	21.41	P/E:	19.87	20.34						Count	10	Years of data
								-$25.65	$0.00	$0.00	$0.00	$0.00	$48.08
			-$22.32	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$48.08
								-$25.65	$1.05	$1.11	$1.17	$1.24	$49.39
			-$22.32	$0.97	$0.87	$0.91	$0.95	$1.00	$1.05	$1.11	$1.17	$1.24	$49.39
High Months			Nov	Jul	Apr	Jan	Nov	Nov	Dec	Dec	Apr	Sep	May	Mar
Price High			$23.10	$26.59	$24.61	$22.40	$26.20	$30.30	$32.91	$38.02	$40.55	$47.94	$53.48	$60.09				125.99%	<-Total Growth	10	Stock Price
Increase				15.11%	-7.45%	-8.98%	16.96%	15.65%	8.61%	15.53%	6.65%	18.22%	11.56%	12.36%				12.03%	<-IRR #YR->	5	Stock Price	76.50%
P/E Ratio			16.62	21.98	22.37	-149.33	20.15	10.27	20.44	21.73	22.40	24.97	23.98	26.38				8.76%	<-IRR #YR->	10	Stock Price	131.52%
Trailing P/E Ratio			15.10	19.13	20.34	20.36	-174.67	23.31	11.16	23.61	23.17	26.49	27.85	26.95				21.73	P/E Ratio		Historical Median
Median 10, 5 Yrs								T P/E	21.77	23.61	P/E:	21.85	22.40					24.77	P/E Ratio		Historical High
								-$30.30	$0.00	$0.00	$0.00	$0.00	$53.48
			-$23.10	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$53.48
Low Months			Dec	Feb	Aug	May	Jan	Mar	Feb	Feb	Oct	Apr	Jan	Jan
Price Low			$21.53	$21.93	$22.06	$18.93	$20.09	$21.00	$26.72	$30.92	$33.09	$37.60	$42.68	$52.45				139.17%	<-Total Growth	10	Stock Price
Increase				1.86%	0.59%	-14.19%	6.13%	4.53%	27.24%	15.72%	7.02%	13.63%	13.51%	22.89%				15.24%	<-IRR #YR->	5	Stock Price	103.24%
P/E Ratio			15.49	18.12	20.05	-126.20	15.45	7.12	16.60	17.67	18.28	19.58	19.14	23.02				7.08%	<-IRR #YR->	10	Stock Price	98.24%
Trailing P/E Ratio			14.07	15.78	18.23	17.21	-133.93	16.15	9.06	19.20	18.91	20.77	22.23	23.52				17.67	P/E Ratio		Historical Median
Median 10, 5 Yrs								T P/E	17.72	19.20	P/E:	17.90	18.28					-99.54	P/E Ratio		Historical Low
								-$21.00	$0.00	$0.00	$0.00	$0.00	$42.68
			-$21.53	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$42.68
Free Cash Flow Mkt Sc								$312	$221	$294	-$316	-$186	-$275	$182	$421						Free Cash Flow Mkt Sc
Change									-29.17%	33.03%	-207.48%	41.14%	-47.85%	166.00%	132.12%						Change
Free Cash Flow MS old			-$2,880	-$5	$169	$37	-$14	$186	$78	$174	-$64										Free Cash Flow MS old
Change				99.83%	3480.00%	-78.11%	-137.84%	1428.57%	-58.06%	123.08%	-136.78%										Change
Free Cash Flow MS	$17	-$248	-$3,090	-$140	$60	$60	-$70	$10	-$20	$110	-$320	-$520	-$410	$182	$421			86.73%	<-Total Growth	10	Free Cash Flow
Change		-1558.82%	-1145.97%	95.47%	142.86%	0.00%	-216.67%	114.29%	-300.00%	650.00%	-390.91%	-62.50%	21.15%	144.27%	132.12%			#NUM!	<-IRR #YR->	5	Free Cash Flow MS	-4200.00%
FCF/CF from Op Ratio		-0.20	2.47	-0.08	0.03	0.04	-0.04	0.00	-0.01	0.05	-0.14	-0.21	-0.15	0.07	0.14			#NUM!	<-IRR #YR->	10	Free Cash Flow MS	86.73%
Dividends paid				$596	$536	$560	$588	$617	$629	$662	$700	$743	$788.00	$799.15	$799.15			32.21%	<-Total Growth	9	Dividends paid
Percentage paid					893.33%	933.33%	-840.00%	6170.00%	-3145.00%	601.82%	-218.75%	-142.88%	-192.20%	440.30%	189.69%			-$1.43	<-Median->	9	Percentage paid
5 Year Coverage									7325.00%	3395.56%	-1102.07%	-452.84%	-303.62%	-385.20%	-591.67%						5 Year Coverage
Dividend Coverage Ratio					0.11	0.11	-0.12	0.02	-0.03	0.17	-0.46	-0.70	-0.52	0.23	0.53			-0.03	<-Median->	9	Dividend Coverage Ratio
5 Year of Coverage									0.01	0.03	-0.09	-0.22	-0.33	-0.26	-0.17						5 Year of Coverage
								-$10	$0	$0	$0	$0	-$410
		$248	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	-$410
Free Cash Flow WSJ					$249	$157	$101	$312	$221	$294	$67	-$186	-$275	$182	$421			-210.44%	<-Total Growth	8	Free Cash Flow
Change						-36.95%	-35.67%	208.91%	-29.17%	33.03%	-77.21%	-377.61%	-47.85%	166.00%	132.12%			#NUM!	<-IRR #YR->	5	Free Cash Flow MS	-188.14%
FCF/CF from Op Ratio					8212.39	-1028.91	1481.65	968.66	10325.87	8041.98	985.92	-1716.87	28029.63	12366.50	7469.97			#NUM!	<-IRR #YR->	8	Free Cash Flow MS	#DIV/0!
Dividends paid					$536	$560	$588	$617	$629	$662	$700	$743	$788	$799	$799			47.01%	<-Total Growth	8	Dividends paid
Percentage paid					215.26%	356.69%	582.18%	197.76%	284.62%	225.17%	1044.78%	-399.46%	-286.55%	440.30%	189.69%			$2.25	<-Median->	9	Percentage paid
5 Year Coverage									281.73%	281.66%	321.21%	473.31%	2910.74%	4530.24%	1833.96%						5 Year Coverage
Dividend Coverage Ratio					0.46	0.28	0.17	0.51	0.35	0.44	0.10	-0.25	-0.35	0.23	0.53			0.28	<-Median->	9	Dividend Coverage Ratio
5 Year of Coverage									0.35	0.36	0.31	0.21	0.03	0.02	0.05						5 Year of Coverage
								-$312	$0	$0	$0	$0	-$275
					-$249	$0	$0	$0	$0	$0	$0	$0	-$275
Market Cap in $M		$12,863.9	$13,262.6	$14,030.1	$13,336.7	$11,936.7	$14,890.6	$17,193.3	$19,573.7	$21,715.4	$23,783.4	$26,537.0	$32,772.1	$35,549.1	$35,549.1	$33,305.9		147.10%	<-Total Growth	10	Market Cap	147.10%
Diluted # of Shares in Millions		477.84	496.37	596.70	597.52	597.90	598.85	599.92	600.36	600.59	600.53	600.66	600.71	600.71	600.71	600.71		21.02%	<-Total Growth	10	Diluted # of Shares in Million
Change			3.88%	20.21%	0.14%	0.06%	0.16%	0.18%	0.07%	0.04%	-0.01%	0.02%	0.01%	0.00%	0.00%	0.00%		1.93%	<-IRR #YR->	10	Change
Difference Diluted/Basic		0.0%	0.0%	-0.3%	-0.4%	-3.7%	-0.4%	-0.4%	-0.4%	-0.3%	-0.3%	-0.2%	-0.2%	-0.2%	-0.2%	-0.2%		0.03%	<-IRR #YR->	5	Difference Diluted/Basic
Change in Diluted Shares per Year
			-496.4	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	600.7
								-599.9	0.0	0.0	0.0	0.0	600.7
Basic # of Shares in Millions		477.84	496.27	595.00	595.29	575.76	596.44	597.42	598.08	598.62	598.99	599.34	599.69	599.69	599.69	599.69		20.84%	<-Total Growth	10	Basic
Change			3.86%	19.89%	0.05%	-3.28%	3.59%	0.16%	0.11%	0.09%	0.06%	0.06%	0.06%	0.00%	0.00%	0.00%		0.08%	<-Median->	10	Change
Difference Basic/Outstanding		24.52%	19.89%	0.00%	0.02%	3.51%	0.06%	0.03%	0.02%	0.02%	0.02%	0.02%	0.01%	0.01%	0.01%	0.01%		0.02%	<-Median->	10	Difference Basic/Outstanding
Shares Province			0.100
Common Shares Public			2,600.000
Common Shares Province			12,197.500
# of Share in Millions			14,797.600
Consolidation			14,202.600
# of Share in Millions			595.000
Common Shares Public			89.250	178.196	312.974	313.526	314.406	315.199	315.805	316.302	316.664	317.023	317.369	317.369	317.369	317.369		255.60%	<-Total Growth	10	Common Shares Public	52.91%
Common Shares Province		595.000	505.750	416.803	282.413	282.413	282.413	282.413	282.413	282.413	282.413	282.413	282.413	282.413	282.413	282.413		-44.16%	<-Total Growth	10	Common Shares Province	47.09%
# of Share in Millions		595.000	595.000	595.000	595.387	595.939	596.818	597.612	598.218	598.715	599.077	599.436	599.782	599.782	599.782	599.782		0.08%	<-IRR #YR->	10	# of Share in Millions	0.80%
Change			0.00%	0.00%	0.07%	0.09%	0.15%	0.13%	0.10%	0.08%	0.06%	0.06%	0.06%	0.00%	0.00%	0.00%		0.07%	<-IRR #YR->	5	Shares	0.36%
Cash Flow from Operations $M		$1,256	-$1,253	$1,656	$1,716	$1,575	$1,614	$2,030	$2,149	$2,260	$2,260	$2,534	$2,695	$2,765	$2,921	$2,969		315.08%	<-Total Growth	10	Cash Flow
Increase			-199.76%	232.16%	3.62%	-8.22%	2.48%	25.77%	5.86%	5.17%	0.00%	12.12%	6.35%	4.36%	4.36%	4.36%		Stock Options
5 year Running Average						$990	$1,062	$1,718	$1,817	$1,926	$2,063	$2,247	$2,380	$2,503	$2,635	$2,777		140.36%	<-Total Growth	7	CF 5 Yr Running
CFPS		$2.11	-$2.11	$2.78	$2.88	$2.64	$2.70	$3.40	$3.59	$3.77	$3.77	$4.23	$4.49	$4.61	$4.87	$4.95		313.37%	<-Total Growth	10	Cash Flow per Share
Increase			-199.76%	232.16%	3.56%	-8.30%	2.33%	25.61%	5.75%	5.08%	-0.06%	12.06%	6.29%	2.60%	5.64%	1.64%		#NUM!	<-IRR #YR->	10	Cash Flow	315.08%
5 year Running Average						$1.66	$1.78	$2.88	$3.04	$3.22	$3.45	$3.75	$3.97	$4.18	$4.39	$4.63		5.83%	<-IRR #YR->	5	Cash Flow	32.76%
P/CF on Med Price		0.00	-10.60	8.72	8.10	7.82	8.56	7.55	8.30	9.13	9.76	10.12	10.70	12.21	-0.01	0.00		#NUM!	<-IRR #YR->	10	Cash Flow per Share	313.37%
P/CF on Closing Price		10.24	-10.58	8.47	7.77	7.58	9.23	8.47	9.11	9.61	10.52	10.47	12.16	12.86	12.17	11.22		5.75%	<-IRR #YR->	5	Cash Flow per Share	32.28%
															48.85%	Diff M/C		13.25%	<-IRR #YR->	7	CFPS 5 yr Running	#DIV/0!
Excl.Working Capital CF		-$55	$212	$125	$119	-$20	$47	$166	$94	$65	$223	$218	$30	$0	$0	$0		6.63%	<-IRR #YR->	5	CFPS 5 yr Running	37.83%
Cash Flow from Operations $M WC		$1,201.0	-$1,041.0	$1,781.0	$1,835.0	$1,555.0	$1,661.0	$2,196.0	$2,243.0	$2,325.0	$2,483.0	$2,752.0	$2,725.0	$2,765.0	$2,920.9	$2,968.9		361.77%	<-Total Growth	10	Cash Flow less WC
Increase			-186.68%	271.09%	3.03%	-15.26%	6.82%	32.21%	2.14%	3.66%	6.80%	10.83%	-0.98%	1.47%	5.64%	1.64%		#NUM!	<-IRR #YR->	10	Cash Flow less WC	361.77%
5 year Running Average		$240.2	$32.0	$388.2	$755.2	$1,066.2	$1,158.2	$1,805.6	$1,898.0	$1,996.0	$2,181.6	$2,399.8	$2,505.6	$2,610.0	$2,729.2	$2,826.4		4.41%	<-IRR #YR->	5	Cash Flow less WC	24.09%
CFPS Excl. WC		$2.02	-$1.75	$2.99	$3.08	$2.61	$2.78	$3.67	$3.75	$3.88	$4.14	$4.59	$4.54	$4.61	$4.87	$4.95		54.66%	<-IRR #YR->	10	CF less WC 5 Yr Run	7730.00%
Increase			-186.68%	271.09%	2.97%	-15.34%	6.66%	32.03%	2.04%	3.57%	6.73%	10.77%	-1.04%	1.47%	5.64%	1.64%		6.77%	<-IRR #YR->	5	CF less WC 5 Yr Run	38.77%
5 year Running Average						$1.79	$1.94	$3.03	$3.18	$3.34	$3.65	$4.01	$4.18	$4.35	$4.55	$4.71		#NUM!	<-IRR #YR->	10	CFPS - Less WC	359.68%
P/CF on Median Price		0.00	-12.75	8.10	7.57	7.92	8.32	6.98	7.95	8.88	8.88	9.32	10.58	12.21	-0.01	0.00		4.34%	<-IRR #YR->	5	CFPS - Less WC	23.64%
P/CF on Closing Price		10.71	-12.74	7.88	7.27	7.68	8.96	7.83	8.73	9.34	9.58	9.64	12.03	12.86	12.17	11.22		12.88%	<-IRR #YR->	7	CFPS 5 yr Running	#DIV/0!
*Operational Cash Flow.			CF/-WC	P/CF Med	10 yr	8.64	5 yr	9.76	P/CF Med	10 yr	8.21	5 yr	8.88		56.59%	Diff M/C		6.67%	<-IRR #YR->	5	CFPS 5 yr Running	38.10%
			-595.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	599.8								Shares
								-597.6	0.0	0.0	0.0	0.0	599.8								Shares
			$1,253.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$2,695.0								Cash Flow
								-$2,030.0	$0.0	$0.0	$0.0	$0.0	$2,695.0								Cash Flow
			$2.11	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$4.49								Cash Flow per Share
								-$3.40	$0.00	$0.00	$0.00	$0.00	$4.49								Cash Flow per Share
						-$1.66	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$3.97								CFPS 5 yr Running
								-$2.88	$0.00	$0.00	$0.00	$0.00	$3.97								CFPS 5 yr Running
			$1,041.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$2,725.0								Cash Flow less WC
								-$2,196.0	$0.0	$0.0	$0.0	$0.0	$2,725.0								Cash Flow less WC
			-$32.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$2,505.6								CF less WC 5 Yr Run
								-$1,805.6	$0.0	$0.0	$0.0	$0.0	$2,505.6								CF less WC 5 Yr Run
			$1.75	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$4.54								CFPS - Less WC
								-$3.67	$0.00	$0.00	$0.00	$0.00	$4.54								CFPS - Less WC
						-$1.79	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$4.18								CFPS 5 yr Running
								-$3.03	$0.00	$0.00	$0.00	$0.00	$4.18								CFPS 5 yr Running
Accrued Interest		$0	-$4	$9	-$6	-$3	$8	$14	$6	-$4	$29	$31	$23								change in 2025 excluded this
Changes in non-Cash
Accts Rec		-$93	$240	-$60	$195	$11	-$73	$12	$18	-$72	-$63	-$81	-$169
Due from Related Parties		-$27	$33	$33	-$95	-$2	-$160	$89	$42	$2	-$31	-$12	-$84
Materials & Supplies		$0	$2	$2	$1			$0	$1	-$3	-$10	$6	-$1
Prepaid Expense, other Assets		-$13	$4	-$15	$7	$2	-$11	-$9	-$2	-$7	$11	-$26	$2
Other Long Term Assets								-$1	-$4	$1	-$13	-$34	-$5
Accts Pay		$39	-$23	$19	$7	$2	$7	$37	-$3	$27	$17	$7	$23
Acct Lib		-$35	-$15	$53	-$89	$17	$38	-$62	$53	$64	$46	$136	$95
Unearned Revenue											$151	$125	-$23
Due to related Parties		-$3	-$89	$9	$10	-$68	$213	$27	-$63	$5	$31	$40	$137
Long Term Accts Pay, Other Liab		-$3	$0	$6	-$2	-$7	$0	$1	$2	$8	$5	$8	-$9
Post Retire, post Empl Liab.		$80	$60	$78	$85	$25	$33	$72	$50	$40	$79	$49	$64
Change in Working Capital		-$55	$212	$125	$119	-$20	$47	$166	$94	$65	$223	$218	$30
TD					$113	-$23	$55	$180	$100	$61	$252	$218	$30
Difference					$6	$3	-$8	-$14	-$6	$4	-$29	$0	$0
New Values 2025								$166	$94	$65	$223
								$0	$0	$0	$0
OPM Ratio		19.18%	-19.16%	25.27%	28.65%	25.61%	24.91%	27.85%	29.74%	29.05%	28.81%	29.87%	29.81%	29.76%				255.54%	<-Total Growth	10	OPM
Increase			-199.91%	231.88%	13.35%	-10.60%	-2.74%	11.80%	6.81%	-2.34%	-0.82%	3.67%	-0.20%	-0.17%					Should increase		or be stable.
Diff from Median		-33%	-167%	-12%	0%	-11%	-13%	-3%	4%	1%	0%	4%	4%	4%				0.00	<-Median->	10	OPM
*Operational Profit Margin (CF/Revenue) Ratio									OPM	10 Yrs	28.73%	5 Yrs	29.74%					should be	zero, it is a		check on calculations
														$3,388	<-12 mths	1.16%
EBITDA				$1,013	$1,130	$1,591	$2,328	$2,366	$2,534	$2,798	$2,838	$3,033	$3,349	$3,514	$3,698	$3,876		196.37%	<-Total Growth	9	EBITDA	From
Change					11.55%	40.80%	46.32%	1.63%	7.10%	10.42%	1.43%	6.87%	10.42%	4.93%	5.24%	4.81%		10.42%	<-Median->	9	Change	Mkt Sc
Margin				15.46%	18.86%	25.87%	35.93%	32.46%	35.07%	35.96%	36.18%	35.75%	37.04%	37.82%	38.69%	39.49%		0.35	<-Median->	10	Margin
														$2,246	<-12 mths	0.35%
EBIT								$1,482	$1,612	$1,832	$1,842	$1,967	$2,238	$2,318	$2,432	$2,510		38.83%	<-Total Growth	5	EBIT	From
Change									8.77%	13.65%	0.55%	6.79%	13.78%	3.57%	4.92%	3.21%		8.77%	<-Median->	5	Change	Mkt Sc
Margin								20.33%	22.31%	23.55%	23.48%	23.18%	24.75%	24.95%	25.45%	25.58%		0.23	<-Median->	6	Margin
Long Term Debt			$2,550	$10,078	$9,315	$9,978	$10,822	$12,726	$13,017	$13,030	$14,710	$16,329	$18,092	$18,092				609.49%	<-Total Growth	10	Debt	Type
Change			0.00%	295.22%	-7.57%	7.12%	8.46%	17.59%	2.29%	0.10%	12.89%	11.01%	10.80%	0.00%				9.63%	<-Median->	10	Change	Lg Term R
Debt/Market Cap Ratio			0.19	0.72	0.70	0.84	0.73	0.74	0.67	0.60	0.62	0.62	0.55	0.51				0.68	<-Median->	10	Debt/Market Cap Ratio	Intang/GW
Assets/Current Liabilities Ratio			8.12	11.72	9.38	8.47	8.77	10.17	10.20	8.61	12.08	10.48	11.05	11.05				10.19	<-Median->	10	Assets/Current Liab Ratio	Liquidity
Current Liabilities/Asset Ratio			0.12	0.09	0.11	0.12	0.11	0.10	0.10	0.12	0.08	0.10	0.09	0.09				0.10	<-Median->	10	Current Liab/Asset Ratio	Liq. + CF
Debt to Cash Flow (Years)			0.00	6.09	5.43	6.34	6.71	6.27	6.06	5.77	6.51	6.44	6.71	6.54				6.30	<-Median->	10	Debt to Cash Flow (Years)	Liq. + CF+D
																						Debt Ratio
Intangibles		$276	$336	$349	$369	$410	$456	$514	$570	$608	$656	$661	$654	$654				94.64%	<-Total Growth	10	Intangibles	Leverage
Goodwill		$173	$163	$327	$325	$325	$325	$373	$373	$373	$373	$373	$378	$378				131.90%	<-Total Growth	10	Goodwill	D/E Ratio
Total		$449	$499	$676	$694	$735	$781	$887	$943	$981	$1,029	$1,034	$1,032	$1,032				106.81%	<-Total Growth	10	Total
Change			11.14%	35.47%	2.66%	5.91%	6.26%	13.57%	6.31%	4.03%	4.89%	0.49%	-0.19%	0.00%				5.40%	<-Median->	10	Change
Intangible/Market Cap Ratio			0.04	0.05	0.05	0.06	0.05	0.05	0.05	0.05	0.04	0.04	0.03	0.03				0.05	<-Median->	10	Intangible/Market Cap Ratio
Current Assets		$1,450	$1,166	$1,148	$1,019	$1,491	$1,268	$1,989	$1,826	$1,860	$1,354	$2,117	$2,174	$2,174				86.45%	<-Total Growth	10	Current Assets
Current Liabilities		$1,715	$2,997	$2,163	$2,740	$3,028	$3,087	$2,979	$2,978	$3,652	$2,720	$3,501	$3,590	$3,590				19.79%	<-Total Growth	10	Current Liabilities
Liquidity Ratio		0.85	0.39	0.53	0.37	0.49	0.41	0.67	0.61	0.51	0.50	0.60	0.61	0.61				0.52	<-Median->	10	Ratio
Liq. with CF aft div		1.58	-0.03	0.42	0.31	0.42	0.35	0.56	1.10	0.96	1.06	1.10	1.11	1.13				1.10	<-Median->	5	Liq. with CF aft div	If Div = 0
Liq. with CF aft div (WC)		1.55	0.04	1.07	0.88	0.86	0.80	1.17	1.13	0.97	1.12	1.15	1.12	1.13				1.12	<-Median->	5	Liq. with CF aft div (WC)
Liq. CF re  Inv+Div		0.89	-0.02	0.37	0.32	0.29	0.36	0.67	0.51	0.47	0.40	0.45	0.46	0.93				0.46	<-Median->	5	Liq. CF re  Inv+Div
Curr Long Term Debt		$552	$500	$602	$752	$731	$653	$806	$603	$733	$700	$1,150	$925	$925				$733.0	<-Median->	5	Curr Long Term Debt
Liquidity Less CLTD		1.25	0.47	0.74	0.51	0.65	0.52	0.92	0.77	0.64	0.67	0.90	0.82	0.82				0.77	<-Median->	5	Liquidity Less CLTD
Liq. with CF aft div		2.33	-0.03	1.31	1.09	1.08	0.96	1.45	1.32	1.15	1.33	1.50	1.41	1.43				1.33	<-Median->	5	Liq. with CF aft div
Assets		$22,550	$24,328	$25,351	$25,701	$25,657	$27,061	$30,294	$30,383	$31,457	$32,852	$36,682	$39,671	$39,671				63.07%	<-Total Growth	10	Assets
Liabilities		$14,603	$14,404	$15,262	$15,448	$16,014	$17,192	$19,666	$19,407	$20,065	$21,087	$24,509	$26,925	$26,925				86.93%	<-Total Growth	10	Liabilities
Debt Ratio		1.54	1.69	1.66	1.66	1.60	1.57	1.54	1.57	1.57	1.56	1.50	1.47	1.47				1.57	<-Median->	10	Ratio
Estimates BVPS														$21.90	$22.78	$23.63			Estimates		Estimates BVPS
Estimate Book Value														$13,135.2	$13,663.0	$14,172.8			Estimates		Estimate Book Value
P/B Ratio (Close)														2.71	2.60	2.35			Estimates		P/B Ratio (Close)
Difference from 10 year median															72.28%	Diff M/C			Estimates		Difference from 10 yr med.
Book Value		$7,947	$9,924	$10,089	$10,253	$9,643	$9,869	$10,628	$10,976	$11,392	$11,765	$12,173	$12,746
NCI		$21	$75	$72	$72	$70	$79	$94	$88	$86	$65	$84	$98
Preferred Shares		$323	$418	$418	$418	$418	$418	$0	$0	$0	$0	$0	$0
Book Value		$7,603	$9,431	$9,599	$9,763	$9,155	$9,372	$10,534	$10,888	$11,306	$11,700	$12,089	$12,648	$12,648	$12,648	$12,648		34.11%	<-Total Growth	10	Book Value
Book Value per share		$12.78	$15.85	$16.13	$16.40	$15.36	$15.70	$17.63	$18.20	$18.88	$19.53	$20.17	$21.09	$21.09	$21.09	$21.09		33.04%	<-Total Growth	10	Book Value per Share
Increase			24.04%	1.78%	1.64%	-6.31%	2.22%	12.25%	3.26%	3.75%	3.42%	3.26%	4.56%	0.00%	0.00%	0.00%		88.78%	P/B Ratio		Current/Historical Median
P/B Ratio (Median)		0.00	1.41	1.50	1.42	1.35	1.47	1.46	1.64	1.83	1.89	2.12	2.28	2.67	0.00	0.00		1.49	P/B Ratio		Historical Median
P/B Ratio (Close)		1.69	1.41	1.46	1.37	1.30	1.59	1.63	1.80	1.92	2.03	2.20	2.59	2.81	2.81	2.63		2.90%	<-IRR #YR->	10	Book Value per Share	33.04%
Change			-16.88%	3.94%	-6.54%	-4.55%	21.86%	2.73%	10.14%	6.84%	5.83%	7.99%	18.04%	8.47%	0.00%	-6.31%		3.65%	<-IRR #YR->	5	Book Value per Share	19.63%
Median 10 year P/B Ratio		0.00	0.70	1.41	1.42	1.41	1.42	1.42	1.44	1.46	1.46	1.49	1.57	1.73	1.73	1.73		1.46	<-Median->	5	Median 10 year P/B Ratio
Leverage (A/BK)		2.97	2.58	2.64	2.63	2.80	2.89	2.88	2.79	2.78	2.81	3.03	3.14	3.14				2.81	<-Median->	5	A/BV
Debt/Equity Ratio		1.92	1.53	1.59	1.58	1.75	1.83	1.87	1.78	1.77	1.80	2.03	2.13	2.13				1.80	<-Median->	5	Debt/Eq Ratio
Shareholders' Equity (Assets less Liabilities)									P/B Ratios	10 yr Med	1.57	5 yr Med	1.89		78.91%	Diff M/C		2.81	Historical		Leverage (A/BK)
			-$15.85	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$21.09
								-$17.63	$0.00	$0.00	$0.00	$0.00	$21.09
Total Comprehensive Income		$747	$714	$746	$683	-$61	$800	$1,772	$990	$1,081	$1,080	$1,156	$1,352					89.36%	<-Total Growth	10	Total Comprehensive Income
NCI		-$2	$10	$6	$6	$6	$6	$8	$8	$8	$9	$9	$10					0.00%	<-Total Growth	10	NCI
Preferred Shareholders		$18	$13	$19	$18	$18	$18	$18	$0	$0	$0	$0	$0					-100.00%	<-Total Growth	10	Preferred Shareholders
Shareholders		$731	$691	$721	$659	-$85	$776	$1,746	$982	$1,073	$1,071	$1,147	$1,342					94.21%	<-Total Growth	10	Comprehensive Income
Increase			-5.47%	4.34%	-8.60%	-112.90%	1012.94%	125.00%	-43.76%	9.27%	-0.19%	7.10%	17.00%					7.10%	<-Median->	5	Comprehensive Income
5 Yr Running Average						$543	$552	$763	$816	$898	$1,130	$1,204	$1,123					6.86%	<-IRR #YR->	10	Comprehensive Income	94.21%
ROE		9.6%	7.3%	7.5%	6.7%	0.0%	8.3%	16.6%	9.0%	9.5%	9.2%	9.5%	10.6%					-5.13%	<-IRR #YR->	5	Comprehensive Income	-23.14%
5Yr Median						7.3%	7.3%	7.5%	8.3%	9.0%	9.2%	9.5%	9.5%					10.93%	<-IRR #YR->	7	5 Yr Running Average	#DIV/0!
% Difference from Net Income		0.0%	0.1%	0.0%	0.2%	0.0%	-0.3%	-1.4%	1.8%	2.2%	-1.3%	-0.8%	0.2%					8.03%	<-IRR #YR->	5	5 Yr Running Average	47.11%
Median Values									Diff	5, 10 yr	0.0%	-0.8%						9.5%	<-Median->	5	Return on Equity
			-$691.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$1,342.0
								-$1,746.0	$0.0	$0.0	$0.0	$0.0	$1,342.0
						-$543.4	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$1,123.0
								-$763.4	$0.0	$0.0	$0.0	$0.0	$1,123.0
Current Liability Coverage Ratio		0.70	-0.35	0.82	0.67	0.51	0.54	0.74	0.75	0.64	0.91	0.79	0.76	0.77							CFO / Current Liabilities
5 year Median						0.67	0.54	0.67	0.67	0.64	0.74	0.75	0.76	0.77				0.75	<-Median->	10	Current Liability Cov Ratio
Asset Efficiency Ratio		5.33%	-4.28%	7.03%	7.14%	6.06%	6.14%	7.25%	7.38%	7.39%	7.56%	7.50%	6.87%	6.97%							CFO / Total Assets
5 year Median						6.06%	6.14%	7.03%	7.14%	7.25%	7.38%	7.39%	7.39%	7.39%				7.2%	<-Median->	10	Return on Assets
Return on Assets ROA		3.24%	2.84%	2.84%	2.56%	-0.35%	2.87%	5.84%	3.18%	3.34%	3.30%	3.15%	3.38%	3.44%				Net	Income/Assets		Return on Assets
5Yr Median						2.84%	2.84%	2.84%	2.87%	3.18%	3.30%	3.30%	3.30%	3.34%				3.2%	<-Median->	10	Asset Efficiency Ratio
Return on Equity ROE		9.61%	7.32%	7.51%	6.74%	0.00%	8.30%	16.80%	8.86%	9.29%	9.27%	9.56%	10.59%	10.78%				Net Inc/	Shareholders' equity		Return on Equity
5Yr Median						7.32%	7.32%	7.51%	8.30%	8.86%	9.27%	9.29%	9.29%	9.56%				9.1%	<-Median->	10	Return on Equity
														$1,337	<-12 mths	-0.17%
Net Income		$747	$713	$746	$682	-$65	$802	$1,796	$973	$1,058	$1,094	$1,165	$1,349					89.20%	<-Total Growth	10	Net Income
NCI		-$2	$10	$6	$6	$6	$6	$8	$8	$8	$9	$9	$10					0.00%	<-Total Growth	10	NCI
Preferred Shareholders		$18	$13	$19	$18	$18	$18	$18	$0	$0	$0	$0	$0					-100.00%	<-Total Growth	10	Preferred Shareholders
Net Income		$731	$690	$721	$658	-$89	$778	$1,770	$965	$1,050	$1,085	$1,156	$1,339	$1,364	$1,430	$1,495		94.06%	<-Total Growth	10	Net Income
Increase			-5.61%	4.49%	-8.74%	-113.53%	974.16%	127.51%	-45.48%	8.81%	3.33%	6.54%	15.83%	1.87%	4.84%	4.55%		EPS/CF Ratio should not be higher than 1.00
5 Yr Running Average						$542.2	$551.6	$768	$816	$895	$1,130	$1,205	$1,119	$1,198.8	$1,274.8	$1,356.8		6.85%	<-IRR #YR->	10	Net Income	94.06%
Operating Cash Flow		$1,256	-$1,253	$1,656	$1,716	$1,575	$1,614	$2,030	$2,149	$2,260	$2,260	$2,534	$2,695					-5.43%	<-IRR #YR->	5	Net Income	-24.35%
Investment Cash Flow		-$1,326	-$1,707	-$1,861	-$1,540	-$1,516	-$1,628	-$1,977	-$2,063	-$2,073	-$2,691	-$3,130	-$3,514					10.91%	<-IRR #YR->	7	5 Yr Running Average	#DIV/0!
Total Accruals		$801	$3,650	$926	$482	-$148	$792	$1,717	$879	$863	$1,516	$1,752	$2,158					7.83%	<-IRR #YR->	5	5 Yr Running Average	45.78%
Total Assets		$22,550	$24,328	$25,351	$25,701	$25,657	$27,061	$30,294	$30,383	$31,457	$32,852	$36,682	$39,671						Balance Sheet		Assets
Accruals Ratio		3.55%	15.00%	3.65%	1.88%	-0.58%	2.93%	5.67%	2.89%	2.74%	4.61%	4.78%	5.44%					4.61%	<-Median->	5	Ratio
EPS/CF Ratio (WC)		0.76	0.00	0.40	0.36	0.00	0.47	0.80	0.43	0.45	0.44	0.42	0.49					0.43	<-Median->	10	EPS/CF Ratio
			-$690.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$1,339.0
								-$1,770.0	$0.0	$0.0	$0.0	$0.0	$1,339.0
						-$542.2	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$1,119.0
								-$767.6	$0.0	$0.0	$0.0	$0.0	$1,119.0
Change in Close				5.79%	-5.00%	-10.58%	24.56%	15.31%	13.73%	10.85%	9.46%	11.51%	23.42%	8.47%	0.00%	-6.31%			Count	11	Years of data
up/down				down					down					down					Count	3	27.27%
Meet Prediction?																		% right	Count	0	0.00%
Financial Cash Flow		-$395	$2,954	$161	-$201	$399	-$439	$674	-$303	-$197	-$172	$1,233	$652						C F Statement		Financial Cash Flow
Total Accruals		$1,196	$696	$765	$683	-$547	$1,231	$1,043	$1,182	$1,060	$1,688	$519	$1,506								Accruals
Accruals Ratio		5.30%	2.86%	3.02%	2.66%	-2.13%	4.55%	3.44%	3.89%	3.37%	5.14%	1.41%	3.80%					3.80%	<-Median->	5	Ratio
Cash		$100	$94	$50	$25	$483	$30	$757	$540	$530	$79	$716	$549	$549							Cash
Cash per Share		$0.17	$0.16	$0.08	$0.04	$0.81	$0.05	$1.27	$0.90	$0.89	$0.13	$1.19	$0.92	$0.92				$0.90	<-Median->	5	Cash per Share
Percentage of Stock Price			0.71%	0.36%	0.19%	4.05%	0.20%	4.40%	2.76%	2.44%	0.33%	2.70%	1.68%	1.54%				2.44%	<-Median->	5	% of Stock Price
Notes:
March 31, 2026.  The last estimates were for 2025, 2026 and 2027 of $8710M, $8927M, $9205M Revenue, $1.43 2025 AFFO, $2.04, $2.17, $2.17 EPS, $1.32, $1.40, $1.49 Dividends,
-$1264M, -$593M 2025/6 FCF, $4.31, $4.65, $4.36 CFPS, $3244M, $3482M, $3666M EBITDA, $2128M, $2289M, $2461M EBIT, $20.87, $21.65, $2242 BVPS, $1230M, $1310M, $1391M Net Income.
March 16, 2025.  Last estimates were for 2024, 2025, 2026 of $8135M, $8491M, $8874M Revenue, $1.09, $1.43 2024/5 AFFO, $1.90, $2.03, $2.17 AEPS, $1.90, $2.03 and $2.17 EPS, <
$1.25, $1.32, $1.40 Dividends, -$383M, -338M, -$156M FCF, 3.92, $4.19, $4.19 CFPS, $2907M, $3193M, $3436M EBITDA, $20.10, $20.80, $21.50 BVPS, $1140M, $1224M, $1305M Net Income.
March 23, 2024.  Last estimates were for 2023, 2024 and 2025 of $7995M, $8340M and $8827M for Revenue, $1.14 and $1.05 for AFFO, $1.78, $1.89 and $2.01 for AEPS, $1.77, $1.89 and $1.98 for EPS,
$1.16, $1.24 and $1.27 for Dividends, -$346M and -$447M 2023/4 FCF, 3.76, $3.92 and $4.19 for CFPS, $19.40, $20.10 and $20.90 for BVPS, $1055M, $1128M and $1193M for Net Income.
March 25, 2023.  Last estimates were for 2022, 2023 and 2024 of $7662M, $8025M and $8419M for Revenue, $1.71, $1.77 and $1.85 for AEPS, $1.70, $1.78 and $1.85 for EPS, $1.11, $1.17 and $1.23 for Dividends,
$85M and -$304M2022/3 for FCF, $3.68, $3.89 and $4.00 for CFPS, $18.80, $19.40 and $20.00 for BVPS, $$1011M, $1060M and $1119M for Net Income.
2015.  Hydro one goes public on TSX.
Note:  Public ownership is in 2021 52.8% and Province is 47.2%
Sector:
Utility,
What should this stock accomplish?
Would I buy this company and Why.
Why am I following this stock.
It is a utility stock and has been recommended by various persons.   It is on the Money Sense list with a C. Rating. It appeared in the Stable Dividend Portfolio when Norman Rothery
originally wrote about it in December 21, 2022.
Why I bought this stock.
Note:
Dividends
Dividends are paid quarterly in Cycle 3 of March, June, September, December.  Dividends are declared in one month for shareholders of record of the following month and paid in the that month.
For example, the dividends declared on February 24, 2021 was for shareholders of record of March 17, 2021 and paid on March 31, 2021.
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.
Hydro One operates regulated transmission and distribution assets in Ontario. Hydro One operates a small telecom business with annual revenue
contributing less than 1% to consolidated results. The province of Ontario holds an approximate 47.5% common equity stake.
Shares; '%, Value $M	Tot Ret	Cap Gain	Div.	check		Shares	%, Val $M	Shares	%, Val $M	Shares	%, Val $M	Shares	%, Val $M	Shares	%, Val $M			Shares	%, Val $M			Change
Date	10.33%	6.77%	3.56%	10.33%			2020	Sep 14	2021	Mar 25	2023	Mar 24	2024	Mar 16	2025			Mar 31	2026
Lebeter, David Leonard	10.30%	6.61%	3.69%	10.30%				0.001	0.00%	0.002	0.00%	0.004	0.00%	0.005	0.00%			0.007	0.00%		Interium	28.06%
CEO - Shares - Amount									$0.045		$0.094		$0.170		$0.298				$0.413
Options - percentage	Tot Ret	Cap Gain	Div.	check				0.084	0.01%	0.406	0.07%	0.085	0.01%	0.136	0.02%			0.198	0.03%			45.19%
Options - amount	13.83%	10.12%	3.56%	13.68%					$3.049		$16.134		$3.752		$7.435				$11.710
	9.71%	6.68%	3.69%	10.37%
Taylor, (Harry) Henry Park														0.000	0.00%			0.001	0.00%			#DIV/0!
CFO - Shares - Amount	Tot Ret	Cap Gain	Div.	check											$0.000				$0.051
Options - percentage	18.72%	14.66%	4.06%	18.72%										0.034	0.01%			0.052	0.01%			54.53%
Options - amount	10.00%	6.99%	3.02%	10.01%											$1.831				$3.069
Lopez, Christopher Felix	Tot Ret	Cap Gain	Div.	check		0.028	0.00%	0.030	0.00%	0.032	0.01%	0.034	0.01%								Ceased insider June 2024
CFO - Shares - Amount	15.72%	12.15%	3.57%	15.72%			$0.901		$1.075		$1.259		$1.498
Options - percentage	10.40%	7.43%	2.97%	10.40%		1.249	0.21%	1.660	0.28%	1.261	0.21%	0.892	0.15%
Options - amount							$40.857		$60.199		$50.076		$39.507
	Tot Ret	Cap Gain	Div.	check
Bowness, Brad Mitchell	16.87%	13.69%	3.18%	16.87%		0.001	0.00%	0.002	0.00%	0.003	0.00%										Ceased Insider Jun 2023
Officer - Shares - Amount	12.60%	9.38%	3.22%	12.60%			$0.023		$0.062		$0.105
Options - percentage	11.58%	8.79%	2.79%	11.58%		0.541	0.09%	0.918	0.15%	0.650	0.11%
Options - amount							$17.706		$33.288		$25.807
Telford, Megan Elizabeth										0.002	0.00%	0.003	0.00%	0.004	0.00%			0.005	0.00%			26.04%
Officer - Shares - Amount											$0.069		$0.125		$0.215				$0.293
Options - percentage										0.316	0.05%	0.000	0.00%	0.054	0.01%			0.052	0.01%			-4.71%
Options - amount											$12.553	0	$0.000		$2.969				$3.069
French, Teri												0.001	0.00%	0.002	0.00%			0.002	0.00%			46.80%
Officer - Shares - Amount													$0.034		$0.084				$0.133
Options - percentage												0.209	0.03%	0.033	0.01%			0.042	0.01%			26.70%
Options - amount													$9.252		$1.824				$2.507
Brant, Cherie Lynn						0.000	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%
Director - Shares - Amount							$0.000		$0.000		$0.000		$0.000		$0.000
Options - percentage						0.007	0.00%	0.010	0.00%	0.010	0.00%	0.012	0.00%	0.015	0.00%
Options - amount							$0.227		$0.347		$0.380		$0.531		$0.812
Vaasjo, Brian Tellef												0.019	0.00%	0.019	0.00%			0.019	0.00%			0.00%
Director - Shares - Amount													$0.842		$1.039				$1.127
Options - percentage												0.001	0.00%	0.004	0.00%			0.006	0.00%			72.36%
Options - amount													$0.059		$0.203				$0.380
Podlasly, Mark Wolfgang										0.402	0.07%	0.000	0.00%	0.000	0.00%			0.000	0.00%			#DIV/0!
Director - Shares - Amount											$15.975		$0.000		$0.000				$0.000
Options - percentage										0.001	0.00%	0.002	0.00%	0.005	0.00%			0.007	0.00%			55.73%
Options - amount											$0.026		$0.093		$0.247				$0.417
Sheffield, William						0.000	0.00%	0.000	0.00%	0.000	0.00%										Interium CEO 2022
Director - Shares - Amount							$0.003		$0.004		$0.004										Director 2023
Options - percentage						0.015	0.00%	0.016	0.00%	0.016	0.00%										Ceased Insider Jun 2023
Options - amount							$0.476		$0.580		$0.634
Wolburgh Jenah, Susan						0.002	0.00%	0.002	0.00%	0.002	0.00%	0.002	0.00%	0.002	0.00%			0.002	0.00%			0.00%
Director - Shares - Amount							$0.070		$0.060		$0.065		$0.073		$0.090				$0.097
Options - percentage						0.006	0.00%	0.009	0.00%	0.009	0.00%	0.011	0.00%	0.014	0.00%			0.016	0.00%			18.43%
Options - amount							$0.197		$0.318		$0.348		$0.496		$0.752				$0.966
Sonberg, Melissa														0.000	0.00%			0.000	0.00%			#DIV/0!
Chairman - Shares - Amt															$0.000				$0.000
Options - percentage														0.023	0.00%			0.026	0.00%			15.86%
Options - amount															$1.238				$1.556
Hodgson, Timothy Edward						0.000	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%							#DIV/0!
Chairman - Shares - Amt							$0.000		$0.000		$0.000		$0.000		$0.000
Options - percentage						0.009	0.00%	0.011	0.00%	0.011	0.00%	0.013	0.00%	0.015	0.00%							-100.00%
Options - amount							$0.287		$0.394		$0.431		$0.564		$0.840
Increase in O/S Shares						0.793	0.13%	0.606	0.10%	0.497	0.08%	0.363	0.06%	0.359	0.06%			0.346	0.06%		Average	0.07%
Due to Stock Options							$22.825		$19.821		$18.032		$14.412		$15.874				$18.914
Book Value							$8.000		$1.000		$4.000		$3.000		$5.000				$5.000
Insider Buying							$0.000		-$0.017		-$0.017		-$0.500		-$0.031				-$0.017
Insider Selling							$0.000		$0.000		$0.000		$0.000		$0.000				$0.000
Net Insider Selling							$0.000		-$0.017		-$0.017		-$0.500		-$0.031				-$0.017
Net Selling % of Market Cap							0.00%		0.00%		0.00%		0.00%		0.00%				0.00%
Directors								10		10		10		10				10
Women								4	40%	4	40%	5	50%	5	50%			5	50%
Minorities								0	0%	0	0%	0	0%	0	0%			1	10%
Institutions/Holdings								20	11.66%	20	11.35%	20	11.04%	20	11.14%			20	11.14%
Total Shares Held								69.825	11.66%	67.976	11.35%	66.146	11.03%	66.749	11.13%			0.000	0.00%
Increase/Decrease 3 Mths								-2.526	-3.49%	-1.192	-1.72%	0.249	0.38%	-1.151	-1.70%			-1.151	-100.00%
Starting No. of Shares								72.350		69.168		65.897		67.900				1.151
My Stock