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 2024
See my website on stocks or see my blog at the following sites.							https://spbrunner.com/stocks.html				https://spbrunner.blogspot.com/
Premium Brands Holdings Corp				TSX	PBH	OTC	PRBZF	https://www.premiumbrandsholdings.com/				Fiscal Yr:	Dec 31
Year	31-Dec-12	31-Dec-13	31-Dec-14	31-Dec-15	31-Dec-16	31-Dec-17	31-Dec-18	31-Dec-19	31-Dec-20	31-Dec-21	31-Dec-22	31-Dec-23	31-Dec-24	31-Dec-25	31-Dec-26	31-Dec-27		Value	Description	#Y	Item	Total G
Financial Year	29-Dec-12	28-Dec-13	27-Dec-14	26-Dec-15	31-Dec-16	30-Dec-17	29-Dec-18	28-Dec-19	26-Dec-20	25-Dec-21	31-Dec-22	30-Dec-23	28-Dec-24								Financial Year
Accounting Rules				IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS					Accounting Rules
Cost of Goods	$759.5	$859.7	$993.3	$1,199.8	$1,779.7	$2,425.1	$2,425.1	$2,924.1	$3,288.7	$4,029.8	$4,929.1	$5,052.6	$5,117.9	$5,311.3	<-12 mths	3.78%		415.23%	<-Total Growth	10	Cost of Goods
Change		13.19%	15.54%	20.79%	48.33%	36.26%	0.00%	20.58%	12.47%	22.53%	22.32%	2.51%	1.29%	3.78%	<-12 mths	192.39%		20.68%	<-Median->	10	Change
Ratio	0.78	0.80	0.80	0.81	0.96	1.10	0.80	0.80	0.81	0.82	0.82	0.81	0.79	0.79	<-12 mths	0.41%		0.81	<-Median->	10	Ratio
General Expenses less Int Inc	$133.8	$172.2	$150.9	$173.1	$228.4	$349.4	$349.4	$417.6	$467.6	$471.2	$599.5	$771.1	$805.3	$818.0	<-12 mths	1.58%		433.80%	<-Total Growth	10	General Expenses less Int Inc
Change		28.66%	-12.37%	14.74%	31.94%	52.98%	0.00%	19.52%	11.97%	0.77%	27.23%	28.62%	4.44%	1.58%	<-12 mths	-64.44%		17.13%	<-Median->	10	Change
Ratio	0.14	0.16	0.12	0.12	0.12	0.16	0.12	0.11	0.11	0.10	0.10	0.12	0.12	0.12	<-12 mths	-1.72%		0.12	<-Median->	10	Ratio
Total	$893.3	$1,031.8	$1,144.2	$1,372.9	$2,008.1	$2,774.5	$2,774.5	$3,341.7	$3,756.3	$4,501.0	$5,528.6	$5,823.7	$5,923.2	$6,129.3	<-12 mths	3.48%		417.68%	<-Total Growth	10	Total
Change		15.50%	10.89%	19.99%	46.26%	38.17%	0.00%	20.44%	12.41%	19.83%	22.83%	5.34%	1.71%	3.48%	<-12 mths	103.66%		19.91%	<-Median->	10	Change
Ratio	0.92	0.96	0.92	0.92	1.08	1.26	0.92	0.92	0.92	0.91	0.92	0.93	0.92	0.92	<-12 mths	0.12%		0.92	<-Median->	10	Ratio
														$6,688	<-12 mths	3.36%
Revenue*	$968.8	$1,072.7	$1,241.7	$1,484.6	$1,857.5	$2,198.3	$3,025.8	$3,649.4	$4,068.9	$4,931.7	$6,029.8	$6,261.6	$6,470.5	$7,318	$7,987	$8,896					Revenue
Increase	21.97%	10.73%	15.75%	19.56%	25.12%	18.35%	37.64%	20.61%	11.50%	21.20%	22.27%	3.84%	3.34%	13.10%	9.14%	11.38%		17.95%	<-IRR #YR->	10	Revenue	421.12%
5 year Running Average	$642.1	$766.8	$922.5	$1,112	$1,325	$1,571	$1,962	$2,443	$2,960	$3,575	$4,341	$4,988	$5,553	$6,202	$6,813	$7,387		12.14%	<-IRR #YR->	5	Revenue	77.30%
Revenue per Share	$46.24	$49.10	$55.88	$54.66	$62.54	$71.37	$89.79	$97.84	$93.54	$110.58	$135.81	$140.99	$145.08	$164.08	$179.08	$199.46		19.66%	<-IRR #YR->	10	5 yr Running Average	501.87%
Increase	17.40%	6.19%	13.82%	-2.18%	14.41%	14.12%	25.80%	8.97%	-4.40%	18.22%	22.82%	3.82%	2.90%	13.10%	9.14%	11.38%		17.84%	<-IRR #YR->	5	5 yr Running Average	127.27%
5 year Running Average	$33.35	$38.06	$43.98	$49.05	$53.68	$58.71	$66.85	$75.24	$83.02	$92.62	$105.51	$115.75	$125.20	$139.31	$153.01	$165.74		10.01%	<-IRR #YR->	10	Revenue per Share	159.62%
P/S (Price/Sales) Med	0.38	0.40	0.41	0.58	0.86	1.21	1.06	0.86	0.91	1.07	0.75	0.70	0.60	0.48	0.00	0.00		8.20%	<-IRR #YR->	5	Revenue per Share	48.28%
P/S (Price/Sales) Close	0.37	0.46	0.44	0.70	1.10	1.45	0.83	0.93	1.08	1.13	0.61	0.67	0.55	0.51	0.46	0.42		11.03%	<-IRR #YR->	10	5 yr Running Average	184.66%
*Revenue in M CDN $					P/S Med	20 yr	0.68	15 yr	0.70	10 yr	0.86	5 yr	0.75		-41.18%	Diff M/C		10.72%	<-IRR #YR->	5	5 yr Running Average	66.40%
			-$1,241.7	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$6,470.5
								-$3,649.4	$0.0	$0.0	$0.0	$0.0	$6,470.5
			-$922.5	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$5,552.5
								-$2,443.1	$0.0	$0.0	$0.0	$0.0	$5,552.5
			-$55.88	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$145.08
								-$97.84	$0.00	$0.00	$0.00	$0.00	$145.08
			-$43.98	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$125.20
								-$75.24	$0.00	$0.00	$0.00	$0.00	$125.20
														$183.00	<-12 mths	3.68%
														$4.12	<-12 mths	3.52%
Adjusted Earnings	$19.52	$20.10	$20.20	$44.10	$71.30	$99.2	$121.3	$118.4	$118.4	$194.8	$215.0	$179.1	$176.5					773.76%	<-Total Growth	10	AEPS
AEPS* Dilued	$0.94	$0.95	$0.92	$1.81	$2.48	$3.33	$3.74	$3.31	$3.05	$4.48	$4.82	$4.03	$3.98	$5.09	$6.64	$8.52		332.61%	<-Total Growth	10	AEPS
Increase	38.24%	1.06%	-3.16%	96.74%	37.02%	34.27%	12.31%	-11.50%	-7.85%	46.89%	7.59%	-16.39%	-1.24%	27.89%	30.45%	28.31%		10	0	10	Years of Data, EPS P or N	100.00%
5 year Running Average	$0.96	$0.91	$0.88	$1.06	$1.42	$1.90	$2.46	$2.93	$3.18	$3.58	$3.88	$3.94	$4.07	$4.48	$4.91	$5.65		15.77%	<-IRR #YR->	10	AEPS	-95.00%
AEPS Yield	5.48%	4.19%	3.77%	4.74%	3.60%	3.23%	5.00%	3.64%	3.03%	3.57%	5.86%	4.29%	5.03%	6.12%	7.98%	10.24%		3.76%	<-IRR #YR->	5	AEPS	-95.00%
Payout Ratio	125.11%	127.68%	135.87%	72.65%	59.88%	49.25%	49.33%	61.93%	74.02%	55.41%	56.74%	74.69%	83.42%	66.80%	51.20%	39.91%		16.56%	<-IRR #YR->	10	5 yr Running Average	95.00%
5 year Running Average	128.87%	134.81%	138.17%	126.85%	104.24%	89.07%	73.40%	58.61%	58.88%	57.99%	59.49%	64.56%	68.86%	67.41%	66.57%	63.20%		6.77%	<-IRR #YR->	5	5 yr Running Average	38.79%
Price/AEPS Median	18.80	20.85	24.71	17.52	21.74	26.01	25.38	25.48	27.78	26.44	21.06	24.34	21.71	15.50	0.00	0.00		24.86	<-Median->	10	Price/AEPS Median
Price/AEPS High	19.95	23.86	27.07	21.94	28.79	32.75	32.46	29.59	34.69	30.47	25.96	27.99	24.31	16.65	0.00	0.00		29.19	<-Median->	10	Price/AEPS High
Price/AEPS Low	17.66	17.84	22.36	13.09	14.68	19.28	18.30	21.38	20.87	22.41	16.15	20.69	19.11	14.35	0.00	0.00		19.19	<-Median->	10	Price/AEPS Low
Price/AEPS Close	18.24	23.86	26.54	21.10	27.81	30.98	20.02	27.48	33.03	28.00	17.07	23.33	19.87	16.35	12.53	9.77		25.41	<-Median->	10	Price/AEPS Close
Trailing P/AEPS Close	25.22	24.12	25.71	41.51	38.10	41.60	22.48	24.32	30.43	41.13	18.37	19.51	19.62	20.90	16.35	12.53		27.38	<-Median->	10	Trailing P/AEPS Close
Median Values	Historical	in order	21.74	25.96	18.30	23.33	P/CF	5 Yrs	in order	24.34	27.99	20.69	23.33		-32.85%	Diff M/C
* Adjusted Earnings per Share
			-$0.92	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$3.98
								-$3.31	$0.00	$0.00	$0.00	$0.00	$3.98
			-$0.88	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$4.07
								-$2.93	$0.00	$0.00	$0.00	$0.00	$4.07
														$258.10	<-12 mths	2.91%
														$5.17	<-12 mths	-8.50%
Free Cash Flow CDN$	$46.0	$49.2	$57.4	$81.1	$121.5	$131.3	$164.6	$177.8	$188.8	$263.3	$285.8	$253.0	$250.8					336.93%	<-Total Growth	10	Free Cash Flow CDN$
Basic Calculated	$2.24	$2.31	$2.60	$3.32	$4.22	$4.41	$5.08	$4.97	$4.87	$6.05	$6.41	$5.70	$5.65					117.12%	<-Total Growth	10	FCF
FCF* Basic	$2.24	$2.31	$2.60	$3.32	$4.22	$4.41	$5.08	$4.97	$4.87	$6.05	$6.41	$5.70	$5.65	$5.17	<-12 mths			117.17%	<-Total Growth	10	FCF
Increase	9.89%	3.57%	12.38%	27.57%	27.11%	4.44%	15.30%	-2.24%	-1.94%	24.23%	5.95%	-11.08%	-0.88%	-8.50%	<-12 mths			10	0	10	Years of Data, EPS P or N	100.00%
5 year Running Average	$1.89	$2.01	$2.20	$2.50	$2.94	$3.37	$3.93	$4.40	$4.71	$5.07	$5.48	$5.60	$5.74	$5.80	<-12 mths			8.06%	<-IRR #YR->	10	FCF	-95.00%
FCF Yield	13.03%	10.21%	10.65%	8.69%	6.12%	4.27%	6.79%	5.46%	4.83%	4.82%	7.79%	6.06%	7.14%	6.21%	<-12 mths			2.61%	<-IRR #YR->	5	FCF	-95.00%
Payout Ratio	52.62%	52.40%	48.05%	39.62%	35.20%	37.22%	36.32%	41.28%	46.36%	41.03%	42.67%	52.81%	58.76%	65.76%	<-12 mths			10.06%	<-IRR #YR->	10	5 yr Running Average	95.00%
5 year Running Average	64.30%	60.87%	55.18%	50.10%	45.58%	42.50%	39.28%	37.93%	39.27%	40.44%	41.53%	44.83%	48.32%	52.21%	<-12 mths			5.46%	<-IRR #YR->	5	5 yr Running Average	30.42%
Price/FCF Median	7.91	8.56	8.74	9.55	12.78	19.66	18.68	16.98	17.40	19.58	15.83	17.21	15.29	15.26	<-12 mths			17.10	<-Median->	10	Price/FCF Median
Price/FCF High	8.39	9.79	9.57	11.97	16.93	24.75	23.90	19.72	21.73	22.57	19.52	19.79	17.12	16.39	<-12 mths			19.76	<-Median->	10	Price/FCF High
Price/FCF Low	7.43	7.32	7.91	7.14	8.63	14.57	13.47	14.25	13.07	16.59	12.15	14.63	13.46	14.12	<-12 mths			13.47	<-Median->	10	Price/FCF Low
Price/FCF Close	7.67	9.79	9.39	11.51	16.35	23.41	14.74	18.31	20.68	20.73	12.84	16.50	14.00	16.09	<-12 mths			16.42	<-Median->	10	Price/FCF Close
Trailing P/FCF Close	8.43	10.14	10.55	14.68	20.78	24.45	16.99	17.90	20.28	25.76	13.60	14.67	13.87	14.73	<-12 mths			17.45	<-Median->	10	Trailing P/FCF Close
Median Values	Historical	in order	9.55	11.97	7.91	11.51	P/CF	5 Yrs	in order	17.21	19.79	13.46	16.50		-6.49%	Diff M/C
* Free Cash Flow
			-$2.60	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$5.65
								-$4.97	$0.00	$0.00	$0.00	$0.00	$5.65
			-$2.20	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$5.74
								-$4.40	$0.00	$0.00	$0.00	$0.00	$5.74
EPS before CRA Settlement *			$12.70	$38.10
Adjusted EPS			$0.57	$1.55
Earnings difference			$7.70	$6.33
Earnings using TD EPS			$20.40	$44.43
TD EPS for 2015			$0.92	$1.81
														$2.64	<-12 mths	-2.94%
EPS Basic	$0.73	$0.60	$0.52	$0.48	$2.39	$2.70	$3.03	$2.35	$2.16	$3.02	$3.59	$2.12	$2.73					425.00%	<-Total Growth	10	EPS Basic	Yahoo F
EPS Diluted*	$0.73	$0.59	$0.52	$0.48	$2.38	$2.69	$3.02	$2.34	$2.15	$3.04	$3.57	$2.11	$2.72	$3.70	$6.13	$9.11		423.08%	<-Total Growth	10	EPS Diluted	WSJ
Increase	7.35%	-19.18%	-11.86%	-7.69%	395.83%	13.03%	12.27%	-22.52%	-8.12%	41.40%	17.43%	-40.90%	28.91%	36.03%	65.68%	48.61%		10	0	10	Years of Data, EPS P or N	100.00%
Earnings Yield	4.26%	2.60%	2.13%	1.26%	3.45%	2.61%	4.03%	2.57%	2.13%	2.42%	4.34%	2.24%	3.44%	4.45%	7.37%	10.95%		17.99%	<-IRR #YR->	10	Earnings per Share	423.08%
5 year Running Average	$0.92	$0.80	$0.69	$0.60	$0.94	$1.33	$1.82	$2.18	$2.52	$2.65	$2.82	$2.64	$2.72	$3.03	$3.65	$4.75		3.06%	<-IRR #YR->	5	Earnings per Share	16.24%
10 year Running Average	$0.50	$0.57	$0.85	$0.85	$1.00	$1.13	$1.31	$1.43	$1.56	$1.79	$2.08	$2.23	$2.45	$2.77	$3.15	$3.79		14.76%	<-IRR #YR->	10	5 yr Running Average	296.21%
* Diluted ESP per share									E/P	10 Yrs	2.59%	5Yrs	2.42%					4.49%	<-IRR #YR->	5	5 yr Running Average	24.56%
			-$0.52	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$2.72
								-$2.34	$0.00	$0.00	$0.00	$0.00	$2.72
			-$0.69	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$2.72
								-$2.18	$0.00	$0.00	$0.00	$0.00	$2.72
Dividend*														$3.44	$3.75	$4.32					Dividend*
Increase														3.67%	8.89%	15.26%					Increase
Payout Ratio EPS														93.03%	61.14%	47.42%
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	$0.00	$0.00		$0.00	<-Median->	10	Special Dividends
Dividend*	$1.18	$1.21	$1.25	$1.32	$1.49	$1.64	$1.85	$2.05	$2.26	$2.48	$2.74	$3.01	$3.32	$3.40	$3.40	$3.40		165.60%	<-Total Growth	10	Dividends
Increase	0.00%	3.15%	3.05%	5.20%	12.93%	10.44%	12.50%	11.11%	10.12%	9.97%	10.17%	10.05%	10.30%	2.41%	0.00%	0.00%		13	1	19	Years of data, Count P, N	68.42%
Average Increases 5 Year Running	0.13%	0.76%	-0.30%	2.28%	4.86%	6.95%	8.82%	10.44%	11.42%	10.83%	10.77%	10.29%	10.12%	8.58%	6.59%	4.55%		10.20%	<-Median->	10	Average Incr 5 Year Running
Dividends 5 Yr Running	$1.20	$1.20	$1.20	$1.23	$1.29	$1.38	$1.51	$1.67	$1.86	$2.06	$2.27	$2.51	$2.76	$2.99	$3.17	$3.31		99.99%	<-Total Growth	10	Dividends 5 Yr Running
Yield H/L Price	6.65%	6.12%	5.50%	4.15%	2.75%	1.89%	1.94%	2.43%	2.66%	2.10%	2.69%	3.07%	3.84%	2.66%				2.68%	<-Median->	10	Yield H/L Price	Item
Yield on High  Price	6.27%	5.35%	5.02%	3.31%	2.08%	1.50%	1.52%	2.09%	2.13%	1.82%	2.19%	2.67%	3.43%	2.13%				2.11%	<-Median->	10	Yield on High  Price	EPS
Yield on Low Price	7.08%	7.16%	6.08%	5.55%	4.08%	2.55%	2.70%	2.90%	3.55%	2.47%	3.51%	3.61%	4.36%	3.55%				3.53%	<-Median->	10	Yield on Low Price	FCF Co.
Yield on Close Price	6.86%	5.35%	5.12%	3.44%	2.15%	1.59%	2.46%	2.25%	2.24%	1.98%	3.32%	3.20%	4.20%	4.09%	4.09%	4.09%		2.36%	<-Median->	10	Yield on Close Price	AEPS
Payout Ratio EPS	161.10%	205.59%	240.38%	273.96%	62.39%	60.97%	61.09%	87.61%	105.00%	81.66%	76.61%	142.65%	122.06%	105.00%	55.46%	37.32%		84.63%	<-Median->	10	DPR EPS	CFPS
DPR EPS 5 Yr Running	130.24%	151.13%	174.66%	204.33%	137.00%	103.65%	82.89%	76.40%	73.75%	77.61%	80.52%	94.89%	101.58%	73.75%	87.03%	69.54%		88.89%	<-Median->	10	DPR EPS 5 Yr Running	FCF
Payout Ratio CFPS	48.48%	174.87%	130.13%	53.02%	29.42%	58.80%	45.75%	46.57%	43.20%	167.00%	125.84%	30.81%	58.50%	43.20%	35.11%	31.25%		49.80%	<-Median->	10	DPR CF
DPR CF 5 Yr Running	65.12%	75.69%	81.01%	76.40%	55.47%	57.67%	49.22%	44.45%	43.16%	57.29%	65.65%	54.36%	56.74%	43.16%	44.37%	37.18%		56.11%	<-Median->	10	DPR CF 5 Yr Running
Payout Ratio CFPS WC	55.38%	69.72%	66.69%	42.26%	34.32%	38.89%	36.45%	33.66%	40.43%	34.59%	33.75%	41.35%	45.14%	40.43%	35.11%	31.25%		37.67%	<-Median->	10	DPR CF WC
DPR CF WC 5 Yr Running	65.19%	66.37%	65.10%	57.75%	48.87%	45.21%	40.53%	36.54%	36.70%	36.52%	35.51%	36.61%	38.89%	36.70%	38.81%	37.87%		37.79%	<-Median->	10	DPR CF WC 5 Yr Running
Median Values	10 Yr Med	10 Yr Cl	2.68%	2.36%	5 Yr Med	5 Yr Cl	2.69%	3.20%	5 Yr Med	Payout	105.00%	58.50%	40.43%					10.12%	<-IRR #YR->	5	Dividends	61.95%
* Dividends per share	10 Yr Med	and Cur.	52.51%	73.22%	5 Yr Med	and Cur.	51.66%	27.66%	Last Div Inc --->		$0.770	$0.850	10.39%					10.26%	<-IRR #YR->	10	Dividends	165.60%
Dividends Growth 15																		7.16%	<-IRR #YR->	15	Dividends	160.60%
Dividends Growth 20																		5.61%	<-IRR #YR->	19	Dividends
Dividends Growth 5								-$2.05	$0.00	$0.00	$0.00	$0.00	$3.32								Dividends Growth 5
Dividends Growth 10			-$1.25	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$3.32								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	$3.32								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	$3.32								Dividends Growth 20
Historical Dividends	Historical	High Div	16.65%	Low Div	1.55%	10 Yr High	5.43%	10 Yr Low	1.51%	Med Div	4.82%	Close Div	4.66%								Historical Dividends
High/Ave/Median Values	Curr diff	Exp.	-75.46%		163.65%	Exp.	-24.74%		170.63%	Exp.	-15.22%	Exp.	-12.28%								High/Ave/Median
Historical Dividends After Income Tr.	Historical	High Div	12.10%	Low Div	1.51%	10 Yr High	5.43%	10 Yr Low	1.51%	Med Div	3.46%	Close Div	3.38%						corp after 2009	15	Historical Dividends
High/Ave/Median Values	Curr diff	Exp.	-66.23%		170.63%	Exp.	-24.74%		170.63%	Cheap	18.11%	Exp.	20.77%								High/Ave/Median
Future Dividend Yield					Div Yield	6.62%	earning in	5	Years	at IRR of	10.12%	Div Inc.	61.95%								Future Dividend Yield
Future Dividend Yield					Div Yield	10.72%	earning in	10	Years	at IRR of	10.12%	Div Inc.	162.28%								Future Dividend Yield
Future Dividend Yield					Div Yield	17.36%	earning in	15	Years	at IRR of	10.12%	Div Inc.	324.77%								Future Dividend Yield
Future Dividend Paid					Div Paid	$5.51	earning in	5	Years	at IRR of	10.12%	Div Inc.	61.95%								Future Dividend Paid
Future Dividend Paid					Div Paid	$8.92	earning in	10	Years	at IRR of	10.12%	Div Inc.	162.28%								Future Dividend Paid
Future Dividend Paid					Div Paid	$14.44	earning in	15	Years	at IRR of	10.12%	Div Inc.	324.77%								Future Dividend Paid
Dividend Covering Cost					Total Div	$20.81	over	5	Years	at IRR of	10.12%	Div Cov.	25.01%								Dividend Covering Cost
Dividend Covering Cost					Total Div	$49.00	over	10	Years	at IRR of	10.12%	Div Cov.	58.90%								Dividend Covering Cost
Dividend Covering Cost					Total Div	$94.66	over	15	Years	at IRR of	10.12%	Div Cov.	113.77%								Dividend Covering Cost
Yield if held 5 years	9.41%	11.61%	11.89%	9.63%	9.46%	9.28%	9.31%	9.02%	7.12%	4.61%	3.16%	3.17%	3.94%	4.01%	2.87%	3.35%		8.07%	<-Median->	10	Paid Median Price
Yield if held 10 years	10.03%	15.26%	13.51%	12.71%	13.95%	13.13%	17.66%	19.50%	16.54%	15.81%	15.47%	15.19%	14.60%	10.72%	6.31%	3.93%		15.33%	<-Median->	10	Paid Median Price
Yield if held 15 years	7.23%	5.22%	5.13%	6.38%	10.49%	13.99%	23.21%	22.16%	21.81%	23.32%	21.89%	28.80%	31.57%	24.91%	21.65%	19.24%		22.03%	<-Median->	10	Paid Median Price
Yield if held 20 years						10.08%	7.94%	8.41%	10.95%	17.54%	23.33%	37.86%	35.89%	32.85%	31.94%	27.21%		14.24%	<-Median->	8	Paid Median Price
Yield if held 25 years											16.80%	12.95%	13.62%	16.48%	24.03%	29.00%		13.62%	<-Median->	3	Paid Median Price
Cost covered if held 5 years	47.84%	57.56%	56.98%	44.91%	41.00%	39.06%	38.04%	36.66%	29.26%	19.06%	13.13%	13.21%	16.37%	17.64%	13.39%	16.29%		32.96%	<-Median->	10	Paid Median Price
Cost covered if held 10 years	84.58%	140.00%	133.84%	116.99%	116.65%	103.09%	129.67%	136.24%	112.88%	106.42%	103.38%	101.31%	97.38%	76.40%	48.49%	32.21%		109.65%	<-Median->	10	Paid Median Price
Cost covered if held 15 years	60.93%	47.87%	50.79%	66.40%	107.28%	143.45%	234.78%	223.94%	206.62%	213.17%	194.09%	249.62%	267.53%	222.38%	207.44%	196.91%		209.90%	<-Median->	10	Paid Median Price
Cost covered if held 20 years						103.35%	80.28%	84.98%	111.38%	179.89%	240.42%	392.45%	373.19%	351.04%	362.21%	326.38%		145.64%	<-Median->	8	Paid Median Price
Cost covered if held 25 years											173.21%	134.19%	141.62%	183.85%	292.01%	381.41%		141.62%	<-Median->	3	Paid Median Price
																				Yr	Item	Tot. Growth
Revenue Growth								$3,649.4	$4,068.9	$4,931.7	$6,029.8	$6,261.6	$6,470.5	$6,688	<-12 mths	3.36%		77.30%	<-Total Growth	5	Revenue Growth	77.30%
AEPS Growth								$3.31	$3.05	$4.48	$4.82	$4.03	$3.98	$4.12	<-12 mths	3.52%		20.24%	<-Total Growth	5	AEPS Growth	20.24%
Net Income Growth								$84.2	$83.7	$132.7	$160.1	$94.2	$121.5	$118	<-12 mths	-3.05%		44.30%	<-Total Growth	5	Net Income Growth	44.30%
Cash Flow Growth								$164.2	$227.3	$66.3	$96.5	$433.9	$253.1	$276	<-12 mths	8.93%		54.14%	<-Total Growth	5	Cash Flow Growth	54.14%
Dividend Growth								$2.05	$2.26	$2.48	$2.74	$3.01	$3.32	$3.40	<-12 mths	2.41%		61.95%	<-Total Growth	5	Dividend Growth	61.95%
Stock Price Growth								$90.96	$100.73	$125.44	$82.28	$94.03	$79.08	$83.20	<-12 mths	5.21%		-13.06%	<-Total Growth	5	Stock Price Growth	-13.06%
Revenue Growth			$1,241.7	$1,484.6	$1,857.5	$2,198.3	$3,025.8	$3,649.4	$4,068.9	$4,931.7	$6,029.8	$6,261.6	$6,470.5	$7,318	<-this year	13.10%		421.12%	<-Total Growth	10	Revenue Growth	421.12%
AEPS Growth			$0.92	$1.81	$2.48	$3.33	$3.74	$3.31	$3.05	$4.48	$4.82	$4.03	$3.98	$5.09	<-this year	27.89%		332.61%	<-Total Growth	10	AEPS Growth	332.61%
Net Income Growth			$11.4	$11.7	$68.9	$80.5	$96.0	$84.2	$83.7	$132.7	$160.1	$94.2	$121.5	$168	<-this year	38.52%		963.36%	<-Total Growth	10	Net Income Growth	963.36%
Cash Flow Growth			$21.3	$67.4	$149.9	$85.9	$135.9	$164.2	$227.3	$66.3	$96.5	$433.9	$253.1	$377	<-this year	48.95%		1085.81%	<-Total Growth	10	Cash Flow Growth	1085.81%
Dividend Growth			$1.25	$1.32	$1.49	$1.64	$1.85	$2.05	$2.26	$2.48	$2.74	$3.01	$3.32	$3.44	<-this year	3.67%		165.60%	<-Total Growth	10	Dividend Growth	165.60%
Stock Price Growth			$24.42	$38.19	$68.96	$103.16	$74.86	$90.96	$100.73	$125.44	$82.28	$94.03	$79.08	$83.20	<-this year	5.21%		223.83%	<-Total Growth	10	Stock Price Growth	223.83%
Dividends on Shares				$53.92	$60.89	$67.24	$75.65	$84.05	$92.56	$101.78	$112.14	$123.41	$136.12	$139.40	$139.40	$139.40		$907.74	No of Years	10	Total Divs	12/31/14
Paid			$1,001.22	$1,565.79	$2,827.36	$4,229.56	$3,069.26	$3,729.36	$4,129.93	$5,143.04	$3,373.48	$3,855.23	$3,242.28	$3,411.20	$3,411.20	$3,411.20		$3,242.28	No of Years	10	Worth	$24.42
Total																		$4,150.02
Graham Number AEPS	$14.36	$14.29	$13.78	$21.89	$28.29	$34.80	$45.36	$46.25	$50.21	$63.32	$66.55	$60.06	$59.60	$66.96	$76.48	$86.63		332.39%	<-Total Growth	10	Graham Number AEPS
Change	15.37%	-0.48%	-3.56%	58.83%	29.20%	23.01%	30.35%	1.96%	8.57%	26.11%	5.10%	-9.75%	-0.76%	12.35%	14.22%	13.28%		15.79%	<-Median->	10	Change
Price/GP Ratio Med	1.23	1.39	1.65	1.45	1.91	2.49	2.09	1.82	1.69	1.87	1.53	1.63	1.45	1.18				1.76	<-Median->	10	Price/GP Ratio
Price/GP Ratio High	1.31	1.59	1.81	1.81	2.52	3.13	2.68	2.12	2.11	2.16	1.88	1.88	1.62	1.27				2.11	<-Median->	10	Price/GP Ratio
Price/GP Ratio Low	1.16	1.19	1.49	1.08	1.29	1.84	1.51	1.53	1.27	1.59	1.17	1.39	1.28	1.09				1.34	<-Median->	10	Price/GP Ratio
Price/GP Ratio Close	1.19	1.59	1.77	1.74	2.44	2.96	1.65	1.97	2.01	1.98	1.24	1.57	1.33	1.24	1.09	0.96		1.86	<-Median->	10	Price/GP Ratio
Prem/Disc Close	19.41%	58.60%	77.16%	74.43%	143.78%	196.48%	65.04%	96.68%	100.62%	98.11%	23.64%	56.57%	32.68%	24.25%	8.78%	-3.96%		85.56%	<-Median->	10	Graham Price
Graham Number EPS	$12.66	$11.26	$10.36	$11.27	$27.71	$31.27	$40.76	$38.88	$42.16	$52.16	$57.27	$43.45	$49.27	$57.09	$73.49	$89.58		375.45%	<-Total Growth	10	Graham Number EPS
Change	1.67%	-11.00%	-8.00%	8.80%	145.78%	12.85%	30.33%	-4.60%	8.41%	23.73%	9.80%	-24.12%	13.39%	15.87%	28.72%	21.91%		11.33%	<-Median->	10	Change
Price/GP Ratio Med	1.40	1.76	2.19	2.81	1.95	2.77	2.33	2.17	2.01	2.27	1.77	2.26	1.75	1.38				2.21	<-Median->	10	Price/GP Ratio
Price/GP Ratio High	1.48	2.01	2.40	3.52	2.58	3.49	2.98	2.52	2.51	2.62	2.19	2.60	1.96	1.48				2.59	<-Median->	10	Price/GP Ratio
Price/GP Ratio Low	1.31	1.50	1.98	2.10	1.31	2.05	1.68	1.82	1.51	1.92	1.36	1.92	1.54	1.28				1.75	<-Median->	10	Price/GP Ratio
Price/GP Ratio Close	1.35	2.01	2.36	3.39	2.49	3.30	1.84	2.34	2.39	2.40	1.44	2.16	1.60	1.46	1.13	0.93		2.36	<-Median->	10	Price/GP Ratio
Prem/Disc Close	35.50%	101.25%	135.64%	238.72%	148.85%	229.86%	83.67%	133.92%	138.95%	140.50%	43.67%	116.39%	60.50%	45.73%	13.22%	-7.13%		136.44%	<-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		29.00	<Count Years>		Month, Year
Price Close	$17.15	$22.67	$24.42	$38.19	$68.96	$103.16	$74.86	$90.96	$100.73	$125.44	$82.28	$94.03	$79.08	$83.20	$83.20	$83.20		223.83%	<-Total Growth	10	Stock Price
Increase	3.00%	32.19%	7.72%	56.39%	80.57%	49.59%	-27.43%	21.51%	10.74%	24.53%	-34.41%	14.28%	-15.90%	5.21%	0.00%	0.00%		33.93	<-Median->	10	CAPE (10 Yr P/E)
P/E Ratio	23.49	38.42	46.96	79.56	28.97	38.35	24.79	38.87	46.85	41.26	23.05	44.56	29.07	22.49	13.57	9.13		-2.76%	<-IRR #YR->	5	Stock Price	-13.06%
Trailing P/E Ratio	25.22	31.05	41.39	73.44	143.67	43.34	27.83	30.12	43.05	58.34	27.07	26.34	37.48	30.59	22.49	13.57		12.47%	<-IRR #YR->	10	Stock Price	223.83%
CAPE (10 Yr P/E)	24.07	23.66	17.67	21.10	23.70	29.04	30.12	32.84	35.80	37.15	35.21	36.01	35.01	32.56	29.14	23.67		0.44%	<-IRR #YR->	5	Price & Dividend	2.12%
Median 10, 5 Yrs		D.  per yr	5.16%	3.20%	% Tot Ret	29.26%	722.04%	T P/E	$40.26	$37.48	P/E:	$38.61	$41.26					17.63%	<-IRR #YR->	10	Price & Dividend	314.50%
Price 15		D.  per yr	5.98%		% Tot Ret	32.45%						CAPE Diff	-33.72%					12.45%	<-IRR #YR->	15	Stock Price	481.04%
Price  20		D.  per yr	7.85%		% Tot Ret	40.99%												11.30%	<-IRR #YR->	20	Stock Price	750.32%
Price  25		D.  per yr	2.41%		% Tot Ret	36.07%												4.28%	<-IRR #YR->	25	Stock Price	184.97%
Price  30		D.  per yr	3.37%		% Tot Ret	26.58%												9.30%	<-IRR #YR->	29	Stock Price
Price & Dividend 15																		18.43%	<-IRR #YR->	15	Price & Dividend	687.74%
Price & Dividend 20																		19.14%	<-IRR #YR->	20	Price & Dividend	1121.50%
Price & Dividend 25																		6.69%	<-IRR #YR->	25	Price & Dividend	309.37%
Price & Dividend 30																		12.67%	<-IRR #YR->	29	Price & Dividend
Price  5								-$90.96	$0.00	$0.00	$0.00	$0.00	$79.08								Price  5
Price 10			-$24.42	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$79.08								Price 10
Price & Dividend 5								-$90.96	$2.26	$2.48	$2.74	$3.01	$82.40								Price & Dividend 5
Price & Dividend 10			-$24.42	$1.32	$1.49	$1.64	$1.85	$2.05	$2.26	$2.48	$2.74	$3.01	$82.40								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	$79.08								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	$79.08								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	$79.08								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	$79.08								Price  30
Price & Dividend 15	$1.18	$1.21	$1.25	$1.32	$1.49	$1.64	$1.85	$2.05	$2.26	$2.48	$2.74	$3.01	$82.40								Price & Dividend 15
Price & Dividend 20	$1.18	$1.21	$1.25	$1.32	$1.49	$1.64	$1.85	$2.05	$2.26	$2.48	$2.74	$3.01	$82.40								Price & Dividend 20
Price & Dividend 25	$1.18	$1.21	$1.25	$1.32	$1.49	$1.64	$1.85	$2.05	$2.26	$2.48	$2.74	$3.01	$82.40								Price & Dividend 25
Price & Dividend 30	$1.18	$1.21	$1.25	$1.32	$1.49	$1.64	$1.85	$2.05	$2.26	$2.48	$2.74	$3.01	$82.40								Price & Dividend 30
Price H/L Median	$17.68	$19.81	$22.74	$31.71	$53.91	$86.62	$94.92	$84.36	$84.73	$118.46	$101.50	$98.10	$86.41	$78.89				280.05%	<-Total Growth	10	Stock Price
Increase	12.54%	12.08%	14.77%	39.48%	69.99%	60.69%	9.58%	-11.13%	0.44%	39.80%	-14.31%	-3.35%	-11.92%	-8.70%				14.28%	<-IRR #YR->	10	Stock Price	280.05%
P/E Ratio	24.21	33.58	43.72	66.06	22.65	32.20	31.43	36.05	39.41	38.97	28.43	46.49	31.77	21.32				0.48%	<-IRR #YR->	5	Stock Price	2.43%
Trailing P/E Ratio	25.99	27.14	38.53	60.98	112.30	36.39	35.29	27.93	36.21	55.10	33.39	27.48	40.95	29.00				19.48%	<-IRR #YR->	10	Price & Dividend	377.44%
P/E on Running 5 yr Average	19.25	24.89	33.14	52.85	57.35	65.03	52.21	38.66	33.68	44.73	35.94	37.13	31.79	26.05				3.70%	<-IRR #YR->	5	Price & Dividend	18.80%
P/E on Running 10 yr Average	35.35	34.88	26.87	37.44	53.80	77.00	72.62	58.82	54.38	66.03	48.85	43.99	35.27	28.46				22.87	P/E Ratio		Historical Median
Median 10, 5 Yrs		D.  per yr	5.20%	3.22%	% Tot Ret	26.69%	87.00%	T P/E	36.30	36.21	P/E:	34.12	38.97						Count	27	Years of data
			-$22.74	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$86.41
								-$84.36	$0.00	$0.00	$0.00	$0.00	$86.41
			-$22.74	$1.32	$1.49	$1.64	$1.85	$2.05	$2.26	$2.48	$2.74	$3.01	$89.73
								-$84.36	$2.26	$2.48	$2.74	$3.01	$89.73
High Months	Jun	Dec	Dec	Dec	Nov	Nov	Apr	Sep	Dec	Nov	Jan	Aug	Oct	May
Price High	$18.75	$22.67	$24.90	$39.72	$71.41	$109.05	$121.41	$97.95	$105.81	$136.52	$125.15	$112.80	$96.75	$84.75				288.55%	<-Total Growth	10	Stock Price
Increase	7.14%	20.91%	9.84%	59.52%	79.78%	52.71%	11.33%	-19.32%	8.02%	29.02%	-8.33%	-9.87%	-14.23%	-12.40%				14.54%	<-IRR #YR->	10	Stock Price	288.55%
P/E Ratio	25.68	38.42	47.88	82.75	30.00	40.54	40.20	41.86	49.21	44.91	35.06	53.46	35.57	22.91				-0.25%	<-IRR #YR->	5	Stock Price	-1.23%
Trailing P/E Ratio	27.57	31.05	42.20	76.38	148.77	45.82	45.13	32.43	45.22	63.50	41.17	31.60	45.85	31.16				25.71	P/E Ratio		Historical Median
Median 10, 5 Yrs								T P/E	45.52	45.22	P/E:	41.20	44.91					45.50	P/E Ratio		Historical High
			-$24.90	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$96.75
								-$97.95	$0.00	$0.00	$0.00	$0.00	$96.75
Low Months	Jsn	Jan	Apr	Jan	Jan	Jan	Nov	Mar	Mar	Jan	Nov	Jan	Nov	Apr
Price Low	$16.60	$16.95	$20.57	$23.70	$36.40	$64.19	$68.43	$70.76	$63.65	$100.39	$77.85	$83.39	$76.06	$73.02				269.76%	<-Total Growth	10	Stock Price
Increase	19.34%	2.11%	21.36%	15.22%	53.59%	76.35%	6.61%	3.40%	-10.05%	57.72%	-22.45%	7.12%	-8.79%	-4.00%				13.97%	<-IRR #YR->	10	Stock Price	269.76%
P/E Ratio	22.74	28.73	39.56	49.38	15.29	23.86	22.66	30.24	29.60	33.02	21.81	39.52	27.96	19.74				1.46%	<-IRR #YR->	5	Stock Price	7.49%
Trailing P/E Ratio	24.41	23.22	34.86	45.58	75.83	26.97	25.44	23.43	27.20	46.69	25.61	23.36	36.05	26.85				19.80	P/E Ratio		Historical Median
Median 10, 5 Yrs								T P/E	27.09	27.20	P/E:	28.78	29.60					3.84	P/E Ratio		Historical Low
			-$20.57	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$76.06
								-$70.76	$0.00	$0.00	$0.00	$0.00	$76.06
Free Cash Flow Mkt Sc									$134.7	-$76.9	-$131.9	$34.2	-$146.6	$158.8	$308.7	$399.0
Change										-157.09%	-71.52%	125.93%	-528.65%	208.32%	94.40%	29.25%
Free Cash Flow WSJ									$134.7	-$76.9	-$131.9	$34.2	-$111.7
Change										-157.09%	-71.52%	125.93%	-426.61%
													-$161.5	<-12 mths	-101.88%
Free Cash Flow MS OLD				$37.9	$107.1	$21.0	$64.7	$76.3	$134.7	-$79.9	-$131.9	$34.0
Change					182.59%	-80.39%	208.10%	17.93%	76.54%	-159.32%	-65.08%	125.78%
Free Cash Flow MS	$20.11	-$0.45	-$25.72	$60.0	$90.0	$70.0	$100.0	$140.0	$150.0	$180.0	$130.0	-$80.0	-$40.0	$158.8	$308.7	$399.0		-55.51%	<-Total Growth	10	Free Cash Flow
Change	476.30%	-102.25%	-5590.49%	333.27%	50.00%	-22.22%	42.86%	40.00%	7.14%	20.00%	-27.78%	-161.54%	50.00%	497.00%	94.40%	29.25%		#NUM!	<-IRR #YR->	5	Free Cash Flow MS	-128.57%
FCF/CF from Op Ratio	0.40	-0.03	-1.21	0.89	0.60	0.81	0.74	0.85	0.66	2.71	1.35	-0.18	-0.16	0.42	0.71	0.82		4.51%	<-IRR #YR->	10	Free Cash Flow MS	-55.51%
Dividends paid	$24.6	$26.5	$27.8	$32.54	$42.5	$48.9	$59.7	$73.1	$86.5	$108.2	$122.5	$134.4	$148.1	$151.6	$151.6	$151.6		433.21%	<-Total Growth	10	Dividends paid
Percentage paid				54.23%	47.22%	69.86%	59.70%	52.21%	57.67%	60.11%	94.23%	-168.00%	-370.25%	95.49%	49.12%	38.01%		$0.56	<-Median->	10	Percentage paid
5 Year Coverage								55.81%	56.49%	58.81%	64.29%	100.90%	176.38%	190.61%	148.33%	98.78%					5 Year Coverage
Dividend Coverage Ratio				1.84	2.12	1.43	1.68	1.92	1.73	1.66	1.06	-0.60	-0.27	1.05	2.04	2.63		1.67	<-Median->	10	Dividend Coverage Ratio
5 Year of Coverage								1.79	1.77	1.70	1.56	0.99	0.57	0.52	0.67	1.01					5 Year of Coverage
								-$140.0	$0.0	$0.0	$0.0	$0.0	-$40.0
			$25.7	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	-$40.0
Market Cap	$359.3	$495.3	$542.6	$1,037.2	$2,048.1	$3,177.3	$2,522.8	$3,392.8	$4,381.8	$5,594.6	$3,653.2	$4,176.1	$3,527.0	$3,710.7	$3,710.7	$3,710.7		550.00%	<-Total Growth	10	Market Cap
Diluted # of Shares in Million	20.68	21.37	22.17	24.55	28.9	29.9	32.5	36.0	39.0	43.7	44.716	44.6	44.6	44.6	44.6	44.629		101.15%	<-Total Growth	10	Diluted	MS gives #
Change	9.52%	3.34%	3.77%	10.70%	17.74%	3.46%	8.70%	10.77%	8.33%	12.05%	2.32%	-0.26%	0.00%	0.00%	0.00%	0.07%		8.51%	<-Median->	10	Change
Difference Diluted/Basic	-0.46%	-0.53%	-0.49%	-0.44%	-0.35%	-0.33%	-0.31%	-0.56%	-0.51%	-0.46%	-0.26%	-0.45%	-0.45%	-0.45%	-0.45%	-0.51%		-0.45%	<-Median->	10	Difference Diluted/Basic
Basic # of Shares in Millions	20.58	21.25	22.06	24.44	28.8	29.8	32.4	35.8	38.8	43.5	44.6	44.4	44.4	44.4	44.4	44.4		101.24%	<-Total Growth	10	Basic
Change	9.58%	3.27%	3.81%	10.76%	17.86%	3.47%	8.72%	10.49%	8.38%	12.11%	2.53%	-0.45%	0.00%	0.00%	0.00%	0.00%		8.55%	<-Median->	10	Change
Difference Basic/Outstanding	1.81%	2.81%	0.71%	11.14%	3.13%	3.36%	4.01%	4.19%	12.11%	2.53%	-0.45%	0.03%	0.45%	0.45%	-100.00%	-100.00%		3.24%	<-Median->	10	Difference Basic/Outstanding
														$275.7	<-12 mths	8.93%
Class A Shares																					Class A Shares	Share Capital
Class B Shares																					Class B Shares
# of Share in Millions	20.953	21.850	22.220	27.158	29.7	30.8	33.7	37.3	43.5	44.6	44.4	44.412	44.600	44.6	44.6	44.6		7.22%	<-IRR #YR->	10	Shares	100.72%
Change	3.89%	4.28%	1.69%	22.22%	9.36%	3.70%	9.42%	10.68%	16.62%	2.53%	-0.45%	0.03%	0.42%	0.00%	0.00%	0.00%		3.64%	<-IRR #YR->	5	Shares	19.57%
Cash Flow from Operations $M	$50.8	$15.2	$21.3	$67.4	$149.9	$85.9	$135.9	$164.2	$227.3	$66.3	$96.5	$433.9	$253.1	$377.0	$431.9	$485.2		1085.81%	<-Total Growth	10	Cash Flow
Increase	72.17%	-70.18%	40.83%	215.55%	122.57%	-42.70%	58.21%	20.82%	38.43%	-70.83%	45.55%	349.64%	-41.67%	48.95%	14.55%	12.36%		Share Issues	S.O.		Conv. Cl B, Debt
5 year Running Average	$34.9	$31.2	$30.1	$36.8	$60.9	$67.9	$92.1	$120.7	$152.6	$135.9	$138.0	$197.6	$215.4	$245.4	$318.5	$396.2		614.90%	<-Total Growth	10	CF 5 Yr Running
CFPS	$2.43	$0.69	$0.96	$2.48	$5.05	$2.79	$4.03	$4.40	$5.23	$1.49	$2.17	$9.77	$5.67	$8.45	$9.68	$10.88		490.78%	<-Total Growth	10	Cash Flow per Share
Increase	65.72%	-71.41%	38.48%	158.18%	103.52%	-44.74%	44.59%	9.16%	18.70%	-71.55%	46.21%	349.52%	-41.91%	48.95%	14.55%	12.36%		28.06%	<-IRR #YR->	10	Cash Flow	1085.81%
5 year Running Average	$1.84	$1.59	$1.48	$1.60	$2.32	$2.39	$3.06	$3.75	$4.30	$3.59	$3.46	$4.61	$4.87	$5.51	$7.15	$8.89		9.04%	<-IRR #YR->	5	Cash Flow	54.14%
P/CF on Med Price	7.29	28.56	23.67	12.79	10.68	31.06	23.54	19.16	16.22	79.68	46.70	10.04	15.23	9.33	0.00	0.00		19.44%	<-IRR #YR->	10	Cash Flow per Share	490.78%
P/CF on Closing Price	7.07	32.68	25.42	15.40	13.66	36.99	18.56	20.66	19.28	84.38	37.86	9.62	13.94	9.84	8.59	7.65		5.21%	<-IRR #YR->	5	Cash Flow per Share	28.91%
															-44.36%	Diff M/C		12.65%	<-IRR #YR->	10	CFPS 5 yr Running	228.97%
														$345.90	<-12 mths	5.46%
Excl.Working Capital CF	-$6.3	$22.9	$20.3	$17.2	-$21.4	$44.0	$34.7	$63.0	$15.6	$253.8	$263.3	-$110.6	$74.9	$0.0	$0.0	$0.0		5.35%	<-IRR #YR->	5	CFPS 5 yr Running	29.75%
CF fr Op $M WC	$44.5	$38.0	$41.6	$84.5	$128.5	$129.9	$170.6	$227.2	$242.9	$320.1	$359.8	$323.3	$328.0	$377.0	$431.9	$485.2		687.55%	<-Total Growth	10	Cash Flow less WC
Increase	24.89%	-14.56%	9.56%	102.90%	52.07%	1.09%	31.33%	33.18%	6.91%	31.78%	12.40%	-10.14%	1.45%	14.94%	14.55%	12.36%		22.92%	<-IRR #YR->	10	Cash Flow less WC	687.55%
5 year Running Average	$34.8	$35.9	$38.2	$48.9	$67.4	$84.5	$111.0	$148.1	$179.8	$218.1	$264.1	$294.7	$314.8	$341.6	$364.0	$389.1		7.62%	<-IRR #YR->	5	Cash Flow less WC	44.37%
CFPS Excl. WC	$2.12	$1.74	$1.87	$3.11	$4.33	$4.22	$5.06	$6.09	$5.58	$7.18	$8.10	$7.28	$7.35	$8.45	$9.68	$10.88		23.49%	<-IRR #YR->	10	CF less WC 5 Yr Run	725.06%
Increase	20.21%	-18.07%	7.74%	66.01%	39.05%	-2.52%	20.03%	20.32%	-8.33%	28.53%	12.91%	-10.17%	1.03%	14.94%	14.55%	12.36%		16.27%	<-IRR #YR->	5	CF less WC 5 Yr Run	112.51%
5 year Running Average	$1.83	$1.81	$1.84	$2.12	$2.64	$3.05	$3.72	$4.56	$5.06	$5.63	$6.40	$6.85	$7.10	$7.67	$8.17	$8.73		14.65%	<-IRR #YR->	10	CFPS - Less WC	292.36%
P/CF on Median Price	8.32	11.39	12.13	10.19	12.46	20.54	18.75	13.85	15.17	16.50	12.53	13.48	11.75	9.33	0.00	0.00		3.84%	<-IRR #YR->	5	CFPS - Less WC	20.74%
P/CF on Closing Price	8.08	13.03	13.03	12.27	15.94	24.46	14.79	14.93	18.04	17.48	10.15	12.92	10.75	9.84	8.59	7.65		14.45%	<-IRR #YR->	10	CFPS 5 yr Running	285.77%
*Operational Cash Flow.			CF/-WC	P/CF Med	10 yr	17.69	5 yr	16.22	P/CF Med	10 yr	13.66	5 yr	13.48		-27.96%	Diff M/C		9.25%	<-IRR #YR->	5	CFPS 5 yr Running	55.63%
			-22.2	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	44.6								Shares
								-37.3	0.0	0.0	0.0	0.0	44.6								Shares
			-$21.3	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$253.1								Cash Flow
								-$164.2	$0.0	$0.0	$0.0	$0.0	$253.1								Cash Flow
			-$0.96	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$5.67								Cash Flow per Share
								-$4.40	$0.00	$0.00	$0.00	$0.00	$5.67								Cash Flow per Share
			-$1.48	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$4.87								CFPS 5 yr Running
								-$3.75	$0.00	$0.00	$0.00	$0.00	$4.87								CFPS 5 yr Running
			-$41.6	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$328.0								Cash Flow less WC
								-$227.2	$0.0	$0.0	$0.0	$0.0	$328.0								Cash Flow less WC
			-$38.2	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$314.8								CF less WC 5 Yr Run
								-$148.1	$0.0	$0.0	$0.0	$0.0	$314.8								CF less WC 5 Yr Run
			-$1.87	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$7.35								CFPS - Less WC
								-$6.09	$0.00	$0.00	$0.00	$0.00	$7.35								CFPS - Less WC
			-$1.84	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$7.10								CFPS 5 yr Running
								-$4.56	$0.00	$0.00	$0.00	$0.00	$7.10								CFPS 5 yr Running
Change in non-cash working capital	$6.37	-$22.66	-$20.28	-$17.14
Accounts receivable					$4.0	-$21.5	-$11.1	-$26.0	-$28.7	-$122.8	-$90.9	$78.1	$12.0
Interest on Advances to investments												-$54.7	-$47.4
Inventories					$11.0	-$33.0	-$13.0	-$62.7	-$39.2	-$153.1	-$104.8	$35.1	-$89.7
Prepaid expenses					-$0.4	-$1.4	-$2.7	-$3.8	-$2.6	-$5.0	-$7.5	-$5.3	-$14.1
Accounts payable and accrued liabilities					$6.8	$10.0	-$8.3	$29.5	$54.9	$27.1	-$60.1	$57.4	$64.3
Deferred Revenue?						$1.9	$0.4
Accrued interest income	-$0.03	-$0.03	-$0.02	-$0.02
Change in discontinued operations’ non-cash working capital
Change in value of cash conversion option		-$0.17
Sum	$6.34	-$22.86	-$20.30	-$17.15	$21.4	-$44.0	-$34.7	-$63.0	-$15.6	-$253.8	-$263.3	$110.6	-$74.9
Google --> TD 2017	$6.82	-$22.86	-$20.30	-$17.15	$21.4	-$44	-$35	-$63	-$16	-$254	-$263	$111	-$75
Difference	-$0.48	$0.00	$0.00	$0.00	$0.0	$0	$0	$0	$0	$0	$0	$0	$0
OPM Ratio	5.25%	1.41%	1.72%	4.54%	8.07%	3.91%	4.49%	4.50%	5.59%	1.34%	1.60%	6.93%	3.91%	5.15%				127.55%	<-Total Growth	10	OPM
Increase	41.16%	-73.07%	21.67%	163.92%	77.88%	-51.58%	14.94%	0.18%	24.16%	-75.93%	19.04%	332.99%	-43.55%	31.70%					Should increase		or be stable.
Diff from Median	16.7%	-68.6%	-61.8%	0.9%	79.5%	-13.1%	-0.1%	0.1%	24.3%	-70.1%	-64.4%	54.1%	-13.0%	14.6%				0.00	<-Median->	10	OPM
*Operational Profit Margin (CF/Revenue) Ratio									OPM	10 Yrs	4.50%	5 Yrs	3.91%					should be	zero, it is a		check on calculations
														$609.2	<-12 mths	2.61%
Adjusted EBITDA	$68.3	$76.1	$69.7	$111.6	$154.8	$190.2	$251.3	$307.7	$312.6	$430.7	$504.2	$559.1	$593.7	$685.5	$777.5	$875.4		751.32%	<-Total Growth	10	Adjusted EBITDA
Change	24.23%	11.48%	-8.35%	60.03%	38.71%	22.87%	32.12%	22.44%	1.59%	37.78%	17.07%	10.89%	6.19%	15.46%	13.42%	12.59%		22.66%	<-Median->	10	Change
Margin	7.05%	7.09%	5.62%	7.52%	8.33%	8.65%	8.31%	8.43%	7.68%	8.73%	8.36%	8.93%	9.18%	9.37%	9.73%	9.84%		8.40%	<-Median->	10	Margin
Long Term Debt	$142.08	$125.16	$211.29	$202.79	$154.40	$417.9	$726.4	$603.0	$525.6	$1,074.0	$1,421.4	$1,510.4	$1,921.1	$1,815.1							Debt	Type
Change	-22.45%	-11.91%	68.82%	-4.02%	-23.86%	170.66%	73.82%	-16.99%	-12.84%	104.34%	32.35%	6.26%	27.19%	-5.52%				16.73%	<-Median->	10	Change	Lg Term R
Ratio to Market Cap	0.40	0.25	0.39	0.20	0.08	0.13	0.29	0.18	0.12	0.19	0.39	0.36	0.54	0.49				0.19	<-Median->	10	% of Market C.	Intang/GW
Assets/Current Liabilities Ratio	2.60	2.66	6.14	5.37	5.93	5.47	6.02	6.49	7.17	7.59	8.99	8.09	6.22	4.07				6.36	<-Median->	10	Assets/Current Liabilities	Liquidity
Debt to Cash Flow (Years)	2.80	8.26	9.90	3.01	1.03	4.86	5.35	3.67	2.31	16.20	14.73	3.48	7.59	4.81				4.27	<-Median->	10	Debt to Cash Flow (Years)	Liq. + CF
																						Debt Ratio
Intangibles	$71.99	$75.10	$71.55	$79.66	$320.30	$201.2	$452.9	$490.2	$517.9	$526.3	$558.5	$540.6	$555.9	$567.8				676.99%	<-Total Growth	10	Intangibles	Leverage
Goodwill	$154.45	$168.93	$174.85	$209.47	$149.80	$439.1	$776.9	$780.2	$853.4	$1,001.2	$1,093.0	$1,084.1	$1,133.9	$1,134.6				548.51%	<-Total Growth	10	Goodwill	D/E Ratio
Total	$226.45	$244.02	$246.39	$289.13	$470.10	$640.3	$1,229.8	$1,270.4	$1,371.3	$1,371.3	$1,371.3	$1,371.3	$1,371.3	$892.6				456.55%	<-Total Growth	10	Total
Change	-0.47%	7.76%	0.97%	17.35%	62.59%	36.21%	92.07%	3.30%	7.94%	0.00%	0.00%	0.00%	0.00%	-34.91%				5.62%	<-Median->	10	Change
Ratio to Market Cap	0.63	0.49	0.45	0.28	0.23	0.20	0.49	0.37	0.31	0.25	0.38	0.33	0.39	0.24				0.32	<-Median->	10	% of Market C.
Current Assets	$172.7	$211.2	$254.3	$320.2	$378.7	$464.1	$696.2	$780.5	$1,224.6	$1,212.0	$1,426.3	$1,328.0	$1,501.9	$1,507.5				490.72%	<-Total Growth	10	Current Assets
Current Liabilities	$233.7	$251.7	$120.3	$159.5	$188.9	$266.8	$406.8	$452.5	$493.8	$581.2	$564.8	$637.9	$932.7	$1,450.3				675.18%	<-Total Growth	10	Current Liabilities
Liquidity Ratio	0.74	0.84	2.11	2.01	2.00	1.74	1.71	1.72	2.48	2.09	2.53	2.08	1.61	1.04				2.01	<-Median->	10	Ratio
Liq. with CF aft div	0.85	0.79	2.06	2.21	2.56	1.87	1.89	1.92	2.74	2.01	2.48	2.55	1.72	1.19				2.48	<-Median->	5	Ratio
Liq. CF re  Inv+Div	0.75	0.67	1.50	1.46	1.14	0.87	0.71	1.36	1.84	0.84	1.54	1.74	1.29	1.19				1.54	<-Median->	5	Ratio
Curr Long Term Debt	$127.310	$113.222	$2.645	$1.920	$1.9	$1.8	$10.8	$7.7	$7.7	$7.7	$6.5	$2.0	$1.0	$0.9
Liquidity Less CLTD	1.62	1.52	2.16	2.03	2.03	1.75	1.76	1.75	2.52	2.11	2.55	2.09	1.61	1.04				2.11	<-Median->	5	Ratio
Liq. with CF aft div	1.87	1.44	2.11	2.23	2.59	1.88	1.94	1.95	2.78	2.04	2.51	2.56	1.72	1.19				2.51	<-Median->	5	Ratio
Assets	$607.7	$670.3	$739.1	$856.2	$1,121.1	$1,459.5	$2,450.5	$2,937.1	$3,541.9	$4,408.9	$5,078.6	$5,158.1	$5,803.8	$5,909.2				685.20%	<-Total Growth	10	Assets
Liabilities	$401.8	$460.8	$360.0	$414.1	$439.9	$747.5	$1,266.4	$1,501.9	$1,518.2	$2,304.0	$2,787.0	$2,907.1	$3,735.4	$4,163.0				937.54%	<-Total Growth	10	Liabilities
Debt Ratio	1.51	1.45	2.05	2.07	2.55	1.95	1.94	1.96	2.33	1.91	1.82	1.77	1.55	1.42				1.94	<-Median->	10	Ratio
Estimates BVPS														$40.72	$43.78	$51.83			Estimates		Estimates BVPS
Estimate Book Value														$1,816.1	$1,952.6	$2,311.6			Estimates		Estimate Book Value
P/B Ratio (Close)														2.04	1.90	1.61			Estimates		P/B Ratio (Close)
Difference from 10 year median															-27.43%	Diff M/C			Estimates		Difference from 10 yr med.
Book Value	$205.9	$209.5	$379.1	$442.0	$681.2	$712.0	$1,184.1	$1,435.2	$2,023.7	$2,104.9	$2,291.6	$2,251.0	$2,068.4	$1,746.2				445.58%	<-Total Growth	10	Book Value
NCI	1.58	0.65	0.62	0.56	0.50	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00							NCI
Convertible Debentures			$174.5	$121.8	$254.8	$214.3	$360.2	$364.0	$425.7	$331.0	$478.6	$484.5	$299.2	$0.0							Convertible Debentures
Book Value	$204.4	$208.9	$204.0	$319.7	$425.9	$497.7	$823.9	$1,071.2	$1,598.0	$1,773.9	$1,813.0	$1,766.5	$1,769.2	$1,746.2	$1,746.2	$1,746.2		767.44%	<-Total Growth	10	Book Value
Book Value per share	$9.75	$9.56	$9.18	$11.77	$14.34	$16.16	$24.45	$28.72	$36.74	$39.77	$40.83	$39.78	$39.67	$39.15	$39.15	$39.15		332.16%	<-Total Growth	10	Book Value per Share
Change	-3.71%	-2.00%	-3.97%	28.23%	21.83%	12.68%	51.30%	17.47%	27.92%	8.27%	2.66%	-2.59%	-0.27%	-1.30%	0.00%	0.00%		16.78%	P/B Ratio		Current/Historical Median
P/B Ratio (Median)	1.81	2.07	2.48	2.69	3.76	5.36	3.88	2.94	2.31	2.98	2.49	2.47	2.18	2.01				1.82	P/B Ratio		Historical Median
P/B Ratio (Close)	1.76	2.37	2.66	3.24	4.81	6.38	3.06	3.17	2.74	3.15	2.02	2.36	1.99	2.13	2.13	2.13		15.76%	<-IRR #YR->	10	Book Value per Share	332.16%
Change	6.97%	34.88%	12.17%	21.96%	48.21%	32.75%	-52.04%	3.44%	-13.43%	15.02%	-36.11%	17.32%	-15.67%	6.60%	0.00%	0.00%		6.67%	<-IRR #YR->	5	Book Value per Share	38.13%
Leverage (A/BK)	2.97	3.21	3.62	2.68	2.63	2.93	2.97	2.74	2.22	2.49	2.80	2.92	3.28	3.38				2.80	<-Median->	5	A/BV
Debt/Equity Ratio	1.97	2.21	1.77	1.30	1.03	1.50	1.54	1.40	0.95	1.30	1.54	1.65	2.11	2.38				1.54	<-Median->	5	Debt/Eq Ratio
Shareholders' Equity (Assets less Liabilities)									P/BV	10 yr Med	2.82	5 yr Med	2.47		-24.53%	Diff M/C		2.52	Historical		Leverage (A/BK)
			-$9.18	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$39.67
								-$28.72	$0.00	$0.00	$0.00	$0.00	$39.67
														$136.60	<-12 mths	-0.36%
Comprehensive Income	$13.68	$17.85	$16.97	$33.49	$64.3	$69.7	$115.7	$72.7	$74.2	$138.6	$182.3	$88.9	$137.1					707.75%	<-Total Growth	10	Comprehensive Income
NCI	$0.22	-$0.15	-$0.03	-$0.06	-$0.1	-$0.1	-$0.1	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0								NCI
Shareholders	$13.47	$18.00	$17.01	$33.55	$64.4	$69.8	$115.8	$72.7	$74.2	$138.6	$182.3	$88.9	$137.1					706.14%	<-Total Growth	10	Comprehensive Income
Increase	4.44%	33.64%	-5.50%	97.28%	91.94%	8.39%	65.90%	-37.22%	2.06%	86.79%	31.53%	-51.23%	54.22%					31.53%	<-Median->	5	Comprehensive Income
5 Yr Running Average	$16.14	$15.39	$15.16	$18.98	$29.3	$40.6	$60.1	$71.3	$79.4	$94.2	$116.7	$111.3	$124.2					23.21%	<-IRR #YR->	10	Comprehensive Income	706.14%
ROE	6.6%	8.6%	8.3%	10.5%	15.1%	14.0%	14.1%	6.8%	4.6%	7.8%	10.1%	5.0%	7.7%					13.53%	<-IRR #YR->	5	Comprehensive Income	88.58%
5Yr Median	10.2%	8.6%	8.3%	8.3%	8.6%	10.5%	14.0%	14.0%	14.0%	7.8%	7.8%	6.8%	7.7%					7.93%	<-IRR #YR->	10	5 Yr Running Average	719.20%
% Difference from NI	-10.57%	41.84%	48.84%	186.92%	-6.47%	-13.29%	20.63%	-13.66%	-11.35%	4.45%	13.87%	-5.63%	12.84%					11.76%	<-IRR #YR->	5	5 Yr Running Average	74.34%
Median Values										Diff	5, 10 yr	-0.6%	4.4%					7.7%	<-Median->	5	Return on Equity
			-$17.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$137.1
								-$72.7	$0.0	$0.0	$0.0	$0.0	$137.1
			-$15.2	-$19.0	-$29.3	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$124.2
								-$71.3	$0.0	$0.0	$0.0	$0.0	$124.2
Current Liability Coverage Ratio	0.22	0.06	0.18	0.42	0.79	0.32	0.33	0.36	0.46	0.11	0.17	0.68	0.27	0.26							CFO / Current Liabilities
5 year Median	0.36	0.23	0.22	0.22	0.22	0.32	0.33	0.36	0.36	0.33	0.33	0.36	0.27	0.26				0.27	<-Median->	5	Current Liability Cov Ratio
Asset Efficiency Ratio	8.36%	2.26%	2.89%	7.87%	13.37%	5.89%	5.55%	5.59%	6.42%	1.50%	1.90%	8.41%	4.36%	6.38%							CFO / Total Assets
5 year Median	7.8%	7.6%	4.8%	4.8%	7.9%	5.9%	5.9%	5.9%	5.9%	5.6%	5.5%	5.6%	4.4%	4.4%				4.4%	<-Median->	5	Return on Assets
Return on Assets ROA	2.48%	1.89%	1.55%	1.37%	6.14%	5.52%	3.92%	2.87%	2.36%	3.01%	3.15%	1.83%	2.09%	2.85%				Net	Income/Assets		Return on Assets
5Yr Median	3.75%	2.48%	2.08%	1.89%	1.89%	1.89%	3.92%	3.92%	3.92%	3.01%	3.01%	2.87%	2.36%	2.85%				2.4%	<-Median->	5	Asset Efficiency Ratio
Return on Equity ROE	7.37%	6.08%	5.60%	3.66%	16.17%	16.17%	11.65%	7.86%	5.24%	7.48%	8.83%	5.33%	6.87%	9.64%				Net Inc/	Shareholders' equity		Return on Equity
5Yr Median	11.51%	7.37%	6.27%	6.08%	6.08%	6.08%	11.65%	11.65%	11.65%	7.86%	7.86%	7.48%	6.87%	7.48%				6.9%	<-Median->	5	Return on Equity
														$117.80	<-12 mths	-3.05%
Net Income	$15.27	$12.54	$11.39	$11.64	$68.8	$80.5	$96.0	$84.2	$83.7	$132.7	$160.1	$94.2	$121.5					966.54%	<-Total Growth	10	Net Income
NCI	$0.22	-$0.15	-$0.03	-$0.06	-$0.1	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0					100.00%	<-Total Growth	10	NCI
Shareholders	$15.06	$12.69	$11.43	$11.69	$68.9	$80.5	$96.0	$84.2	$83.7	$132.7	$160.1	$94.2	$121.5	$168	$270	$408		963.36%	<-Total Growth	10	Net Income
Increase	17.61%	-15.74%	-9.95%	2.35%	488.83%	16.91%	19.25%	-12.29%	-0.59%	58.54%	20.65%	-41.16%	28.98%	38.52%	60.67%	50.78%		EPS/CF Ratio should not be higher than 1.00
5 Yr Running Average	$16.8	$15.1	$13.6	$13	$24	$37	$54	$68	$83	$95	$111	$111	$118	$135.4	$162.9	$212.4		26.67%	<-IRR #YR->	10	Net Income	963.36%
Operating Cash Flow	$50.8	$15.2	$21.3	$67.4	$149.9	$85.9	$135.9	$164.2	$227.3	$66.3	$96.5	$433.9	$253.1					7.61%	<-IRR #YR->	5	Net Income	44.30%
Investment Cash Flow	-$32.0	-$48.4	-$44.6	-$81.6	-$236.5	-$310.5	-$683.3	-$185.7	-$242.9	-$808.9	-$343.6	-$299.2	-$315.3					24.12%	<-IRR #YR->	10	5 Yr Running Average	768.01%
Total Accruals	-$3.7	$45.9	$34.7	$26.0	$155.5	$305.1	$643.4	$105.7	$99.3	$875.3	$407.2	-$40.5	$183.7					11.66%	<-IRR #YR->	5	5 Yr Running Average	73.54%
Total Assets	$607.7	$670.3	$739.1	$856.2	$1,121.1	$1,459.5	$2,450.5	$2,937.1	$3,541.9	$4,408.9	$5,078.6	$5,158.1	$5,803.8						Balance Sheet		Assets
Accruals Ratio	-0.61%	6.85%	4.69%	3.04%	13.87%	20.90%	26.26%	3.60%	2.80%	19.85%	8.02%	-0.79%	3.17%					3.17%	<-Median->	5	Ratio
EPS/CF Ratio (WC)	0.34	0.34	0.28	0.15	0.55	0.64	0.60	0.38	0.39	0.42	0.44	0.29	0.37					0.40	<-Median->	10	EPS/CF Ratio
			-$11.4	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$121.5
								-$84.2	$0.0	$0.0	$0.0	$0.0	$121.5
			-$13.6	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$0.0	$118.4
								-$68.3	$0.0	$0.0	$0.0	$0.0	$118.4
Change in Close	3.00%	32.19%	7.72%	56.39%	80.57%	49.59%	-27.43%	21.51%	10.74%	24.53%	-34.41%	14.28%	-15.90%	5.21%	0.00%	0.00%			Count	30	Years of data
up/down	down		down			down	down	down			down	down							Count	20	66.67%
Meet Prediction?							yes				yes							% right	Count	5	25.00%
Financial Cash Flow	-$19.6	$30.9	$31.2	$16.1	$94.7	$220.3	$551.7	-$185.7	$360.2	$396.1	$242.0	-$118.5	$83.8						C F Statement		Financial Cash Flow
Total Accruals	$15.9	$15.1	$3.5	$9.9	$60.8	$84.8	$91.7	$291.4	-$260.9	$479.2	$165.2	$78.0	$99.9								Accruals
Accruals Ratio	2.61%	2.25%	0.47%	1.16%	5.42%	5.81%	3.74%	9.92%	-7.37%	10.87%	3.25%	1.51%	1.72%					1.72%	<-Median->	5	Ratio
Cash	$4.0	$1.4	$9.5	$11.3	$19.4	$15.1	$19.4	$18.4	$363.0	$16.5	$11.4	$27.6	$49.2	$14.9							Cash
Cash per Share	$0.19	$0.07	$0.43	$0.41	$0.65	$0.49	$0.58	$0.49	$8.34	$0.37	$0.26	$0.62	$1.10	$0.33				$0.62	<-Median->	5	Cash per Share
Percentage of Stock Price	1.12%	0.29%	1.74%	1.09%	0.95%	0.48%	0.77%	0.54%	8.28%	0.29%	0.31%	0.66%	1.39%	0.40%				0.66%	<-Median->	5	% of Stock Price
Notes
Jun 29, 2025.  Last estimates were for 2024, 2025  and 2026 of $6689M, $7226M, $8242M for Revenue, $4.91, $6.32, $9.47 for AEPS, 3.28, $5.52 2024/5 EPS,
$3.40, $3.66 2024/5 Dividends, $54.8M, $242.5M FCF, $6.25, $9.63 2024/5 CFPS, $636.5M, $710.5M, $846.8M EBITDA, $40.30, $41.90 2024/5 for BVPS, $181M, $246M 2024/5 Net Income.
June 26, 2024.  Last estimates were for 2023, 2024 and 2025 of $6540M, $6944M, $7625M Revenue, $4.77, $5.61, $7.92 AEPS, $6.06, $7.57, $9.31 FCF, $4.77, $5.61, $7.34 EPS,
$3.08, $3.39 2023/4 Dividend, $228M, $237M, $413M FCF, $10.10, $9.09 2023/4 CFPS, $519.1M, $647.7M, $721.4M EBITDA, $41.30, $42.40 2023/4 BVPS, $304M, $249M, $326M Net Income.
June 25, 2023.  Last estimates were for 2022. 2023 and 2024 of $5173M, $6122M and $6503M for Revnenue, $5.33, $6.39 and $7.21 for EPS,
$2.80 and $3.08 2022/3 for Div., $298M, $34M6 and $415M for FCF, $9.18, $9.33 for 2022/3 for CFPS, and $232M, $304M and $322M for Net Income.
June 30, 2022.  Last estimates were for 2021, 2022 and 2023 of $4638M, $5036M and $5299M for Revenue, $4.26, $5.28 and $6.14 for EPS,
$2.54 and $2.79 for Dividends 2021-22, $207M, $267M and $370M for FCF, $9.26 and $7.54 for CFPS for 2021-22, and $183M and $237M for Net Income for 2021-22.
June 27, 2021.  Last estimates were for 2020, 2021 and 2022 of $3797M, $4190M and $4293M for Revenue, $2.49, $3.88 and $4.67 for EPS,
$2.31 and $2.54 and $2.54 for Dividends, $116M, $191M and $279M for FCF, $5.61 and $6.75 for 2020 and 2021 for CFPS.
June 27, 2020.  Last estimates were for 2019, 2020 and 2021 of $3632M, $3879M and $4037M for Revenue, $3.91, $4.72 and $5.18 for EPS,
$6.94 and $7.74 for CPFS for 2019 and 2020 and $138M, $1658M for 2019 and 2020 for Net Income.
July 1, 2019.  Last estimates were for 2018, 2019 and 2020 of $3010M, $3441M and $3775M for Revenue, $4.5, $5.24 and $6.28 for EPS,
$4.72 and $6.14 for CFPS for 2018 and 2019 and $133M and $157M for Net Income for 2018 and 2019.
July 2 , 2018.  Last estimates were for 2017, 2018 and 2019 of $2213M, $2411M and $2663M for Revenue, $3.08, $3.65 and $4.95 for EPS,
$$4.22 and $4.68 for CFPS for 2017 and 2018 and $897M and $104M for 2017 and 2018 for Net Income.
July 1, 2017.  Last estimates were for 2016, 2017 and 2018 of 1821M, $2014M and $2178M for Revenue, $2.01, $2.53 and $3.50 for EPS, $3.41, $3.46 and $3.18 for CFPS
and $55.8M and  $70.7M for Net Income for 2016 and 2017.
*Excludes the write-off of certain deferred tax assets resulting from a settlement agreement with Canada Revenue Agency (see Results of
Operations – Income Taxes – CRA Settlement).
This company was an income trust as Premium Brands Income Fund until July 21, 2009.
2005. Company changed to Premium Brands Income Fund.
1999.  The company was called Fletcher's Fine Foods Ltd. Then changed its name to Primium Brands Inc.
1995.  Prior to June 27, 1995 shares were held privately.
Sector
Consumer Staple, Consumer
What should this stock accomplish?
It might settle into a stock with a moderate dividend with moderate growth.  That would be a dividend in the 2% range and increases around 10 to 12%.
Would I buy this company and Why.
Would I buy this company and Why.
Yes.  It seems like a well run dividend growth company.
Why am I following this stock.
I was looking for another stock to follow and I found this as one of the top stocks in TD Bank's Canadian Equity Fund in 2016.
Dividends
Dividends are paid in Cycle 1, that is January, April, July and October.  They are declared for shareholders in one month and paid in the following month.
For example, the January 15, 2016 dividend was for shareholders of record of December 31, 2015.
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.
Premium Brands Holdings Corp is engaged in specialty food manufacturing, premium food distribution, and wholesale businesses with
operations in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Nevada, and Washington State.
Shares; '%, Value $M	%, Val $M	Shares	%, Val $M	Shares	%, Val $M	Shares	%, Val $M	Shares	%, Val $M	Shares	%, Val $M	Shares	%, Val $M	Shares	%, Val $M			Shares	%, Val $M			Change
Date	2017	Jul 2	2018	Jul 1	2019	Jun 27	2020	Jun 27	2021	Jun 30	2022	Jun 25	2023	Jun 26	2024			Jun 29	2025
Paleologou, George	1.05%	0.338	1.00%	0.355	0.95%	0.363	0.84%	0.378	0.85%	0.388	0.87%	0.397	0.89%	0.403	0.91%			0.428	0.96%			6.30%
CEO - Shares - Amount	$33.250		$25.274		$32.280		$36.597		$47.443		$48.641		$32.655		$37.877				$33.861
Options - percentage	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%			0.000	0.00%			#DIV/0!
Options - amount	$0.000		$0.000		$0.000		$0.000		$0.000		$0.000		$0.000		$0.000				$0.000
Kalutycz, William Dion	0.46%	0.151	0.45%	0.156	0.42%	0.161	0.37%	0.153	0.34%	0.130	0.29%	0.110	0.25%	0.109	0.25%			0.102	0.23%			-6.36%
CFO - Shares - Amount	$14.751		$11.304		$14.188		$16.249		$19.207		$16.313		$9.078		$10.269				$8.088
Options - percentage	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%			0.000	0.00%			#DIV/0!
Options - amount	$0.000		$0.000		$0.000		$0.000		$0.000		$0.000		$0.000		$0.000				$0.000
Goss, Douglas Owen	0.10%	0.032	0.09%	0.034	0.09%	0.034	0.08%	0.035	0.08%	0.035	0.08%	0.035	0.08%	0.035	0.08%			0.035	0.08%			0.00%
Officer - Shares - Amount	$3.095		$2.378		$3.051		$3.427		$4.432		$4.432		$2.907		$3.322				$2.794
Options - percentage	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%			0.000	0.00%			#DIV/0!
Options - amount	$0.000		$0.000		$0.000		$0.000		$0.000		$0.000		$0.000		$0.000				$0.000
Sposari, Stephen														0.092	0.21%			0.096	0.22%		Subsidiary Executive	5.23%
Officer - Shares - Amount															$8.611				$7.621
Options - percentage														0.000	0.00%			0.000	0.00%			#DIV/0!
Options - amount															$0.000				$0.000
Ciampi, Johnny	0.04%	0.015	0.04%	0.015	0.04%	0.015	0.03%	0.015	0.03%	0.015	0.03%	0.015	0.03%	0.015	0.03%			0.022	0.05%			46.65%
Director - Shares - Amount	$1.366		$1.123		$1.365		$1.511		$1.882		$1.882		$1.235		$1.411				$1.740
Options - percentage	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%	0.001	0.00%	0.002	0.00%	0.003	0.01%			0.005	0.01%			44.94%
Options - amount	$0.000		$0.000		$0.000		$0.000		$0.046		$0.142		$0.175		$0.311				$0.379
Dea, Thomas Philip														0.054	0.12%			0.107	0.24%			100.30%
Director - Shares - Amount															$5.046				$8.499
Options - percentage														0.001	0.00%			0.002	0.00%			231.87%
Options - amount															$0.053				$0.149
Hodge, John Bruce	0.66%	0.206	0.61%	0.206	0.55%	0.206	0.47%	0.206	0.46%	0.336	0.75%	0.336	0.76%	0.336	0.76%			0.339	0.76%			0.89%
Chairman - Shares - Amt	$21.109		$15.451		$18.774		$20.790		$25.890		$42.124		$27.631		$31.576				$26.793
Options - percentage	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%	0.000	0.00%	0.001	0.00%			0.003	0.01%			221.73%
Options - amount	$0.000		$0.000		$0.000		$0.000		$0.000		$0.000		$0.000		$0.101				$0.274
Increase in O/S Shares	0.16%	0.000	0.00%	0.100	0.30%	0.007	0.02%	0.011	0.03%	0.049	0.11%	0.070	0.16%	0.021	0.05%			0.044	0.10%		Average	0.09%
Due to SO	$3.289		$0.000		$7.486		$0.653		$1.015		$4.898		$8.842		$1.750				$4.162
Book Value	$3.300		$4.000		$0.400		$0.900		$1.400		$6.100		$5.800		$2.000				$3.500		only amt given
Insider Buying	-$0.050		-$0.027		-$0.027		$0.043		-$0.126		$0.000		$0.000		$0.000				-$5.433
Insider Selling	$1.236		$0.626		$0.626		$0.000		$0.000		$0.000		$0.000		$0.000				$1.257
Net Insider Selling	$1.186		$0.599		$0.599		$0.043		-$0.126		$0.000		$0.000		$0.000				-$4.176
Net Selling % of Market Cap	0.04%		0.02%		0.02%		0.00%		0.00%		0.00%		0.00%		0.00%				-0.10%
Directors		6		6		8		8		8		8		9				9
Women	17%	1	17%	1	17%	1	13%	2	25%	2	25%	3	38%	3	33%			3	33%
Minorities	0%	0	0%	0	0%	0	0%	0	0%	0	0%	1	13%	1	11%			1	11%
Institutions/Holdings						20	33.97%	20	44.97%			20	36.12%	20	27.15%			20	24.85%
Total Shares Held						12.670	29.13%	19.563	44.97%			16.119	36.30%	12.059	27.15%			11.156	25.01%
Increase/Decrease 3 Mths						-0.707	-5.28%	0.087	0.45%			0.025	0.15%	-0.108	-0.89%			-0.929	-7.69%
Starting No. of Shares						13.377	Top 20 MS	19.476	Top 20 MS			16.094	Top 20 MS	12.167	Top 20 MS			12.086	Top 20 MS
Institutions/Holdings	30.13%	91	26.72%
Institutions Holdings Amount	$1,022.140		$1,170.900
Total Shares Held	35.71%	10.000	29.67%
Amount Held	$1,134.760		$1,031.600
Increase/Decrease 3 Mths	-8.33%	0.000	0.00%
Starting No. of Shares	Morningstar	10.000	Morningstar
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