Hammond Power Solutions Inc

Sound bite for Twitter is: Dividend Growth Industrial. Results of stock price testing is that the stock price is probably expensive. Debt Ratios are good. The Dividend Payout Ratios (DPR) are good. The current dividend yield is low with dividend growth good. See my spreadsheet on Hammond Power Solutions Inc.

Is it a good company at a reasonable price? This stock has great growth with very low DPRs and very good debt ratios. I am not surprised at the Strong Buy Rating because analysts think that this stock has great potential. The stock price is down off its recent high. It is certainly in the right business. Look at what a hog AI is with electricity. See article on Scientific American. I am certainly keeping the shares I have bought. The stock is testing as expensive, but the problem is that it may not get any cheaper in the future.

I own this stock of Hammond Power Solutions Inc (TSX-HPS.A, OTC-HMDPF). I bought this stock as my main purchase for the TFSA in 2013 and 2014. I picked Hammond initially in 2013 as my main buy because it has good growth and reasonable dividend. Also, I think that it important to try out newer smaller companies for investment purposes. Companies on the TSX are always changing and it is good to get into new industries and new companies. The problem of this, of course, is you do not always know what industries and companies will be long lasting. The TFSA account is my fooling around money account.

When I was updating my spreadsheet, I noticed that the stock has fallen a lot since the end of 2024. That is from a high of $157.35 to a low of $78.24 and has recovered somewhat to a current value of $101.52. I have shares in this company and as of April 30, 2025 I have a total return of 24.03% with 22.44% from capital gains and 1.59% from dividends.

If you had invested in this company in December 2014, for $1,005.58 you would have bought 137 shares at $7.34 per share. In December 2024, after 10 years you would have received $524.71 in dividends. The stock would be worth $17,542.85. Your total return would have been $18,067.56. This would be a total return of 34.58% per year with 33.10% from capital gain and 1.48% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$7.34	$1,005.58	137	10	$524.71	$17,542.85	$18,067.56

The current dividend yield is low with dividend growth good. The current dividend yield is low (below 2%) at 1.08%. The 5, 10 year and historical median dividend yields are moderate (2% to 4% ranges) at 2.29%, 3.17% and 2.65%. The dividend growth is good (15% and above) at 28% per year over the past 5 years. The last dividend increase was in 2024 and it was for 83%.

The Dividend Payout Ratios (DPR) are good. The DPR for 2024 for Earnings per Share (EPS) is good at 16% with 5 year coverage at 15%. The DPR for 2024 for Cash Flow per Share (CFPS) is good at 9% with 5 year coverage at 8%. The DPR for 2024 for Free Cash Flow (FCF) is good at 19% with 5 year coverage at 14%. There is no agreement on what the FCF is.

Item	Cur	5 Years
EPS	16.22%	14.72%
CFPS	8.93%	8.01%
FCF	18.82%	14.03%

Debt Ratios are good. The Long Term Debt/Market Cap Ratio for 2024 is good at 0.01 and currently at 0.01. The Liquidity Ratio for 2024 is good at 1.99 and 2.10 currently. The Debt Ratio for 2024 is good at 2.66 and 2.81 currently. The Leverage and Debt/Equity Ratios for 2024 are good at 1.60 and 0.60 and currently at 1.55 and 0.55.

Type	Year End	Ratio Curr
Lg Term	0.01	0.01
Intang/GW	0.02	0.03
Liquidity	1.99	2.10
Liq. + CF	2.31	2.36
Debt Ratio	2.66	2.81
Leverage	1.60	1.55
D/E Ratio	0.60	0.55

The Total Return per year is shown below for years of 5 to 23 to the end of 2024. Under the Capital Gain column is the portion of the Total Return attributable to capital gains. Under the Dividend column is the portion of the Total Return attributable to dividends. See chart below.

From	Years	Div. Gth	Tot Ret	Cap Gain	Div.
2019	5	28.34%	77.82%	75.55%	2.27%
2014	10	15.05%	34.58%	33.10%	1.48%
2009	15	16.39%	20.18%	19.19%	0.99%
2004	20		28.40%	26.85%	1.55%
2001	23		25.43%	24.36%	1.06%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 3.71, 8.06 and 9.52. The corresponding 10 year ratios are 6.18, 8.83 and 11.84. The corresponding historical ratios are 6.13, 8.49 and 9.88. The current ratio is 13.68 based on a stock price of $101.52 and EPS estimate for 2025 of $7.42. The current ratio is above the high ratio of the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive. (Note that the median P/E Ratio has climbed from 5.35 in 2020 to 19.60 in 2024.)

I get a Graham Price of $67.92. The 10-year low, median, and high median Price/Graham Price Ratios are 0.45, 0.62 and 0.78. The current P/GP Ratio is 1.49 based on a stock price of $101.52. The current ratio is above the high ratio of the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive.

I get a 10-year median Price/Book Value per Share Ratio of 0.83. The current P/B Ratio is 3.68 based on a book value of $329M, Book Value per Share of $27.62 and a stock price of $101.52. The current ratio is 341% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive.

I also have a Book Value per Share estimate for 2025 of $32.55. This implies a P/B Ratio of 3.12 with a Book Value of $388M and a stock price of $101.52. This ratio is 274% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive.

I get a 10-year median Price/Cash Flow per Share Ratio of 5.66. The current P/CF Ratio is 21.79 based on Cash Flow for the last 12 months of $55.5M, Cash Flow per Share of $4.66 and a stock price of $101.52. The current ratio is 285% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive.

I get an historical median dividend yield of 2.65%. The current dividend yield is 1.08% based on dividends of $1.10 and a stock price of $101.52. The current dividend yield is 59% below the historical median dividend yield. This stock price testing suggests that the stock price is relatively expensive.

I get a 10 year median dividend yield of 3.17%. The current dividend yield is 1.08% based on dividends of $1.10 and a stock price of $101.52. The current dividend yield is 66% below the 10 year median dividend yield. This stock price testing suggests that the stock price is relatively expensive.

The 10-year median Price/Sales (Revenue) Ratio is 0.30. The current P/S Ratio is 1.42 based on Revenue estimate for 2024 of $854M, Revenue per Share of $71.73 and a stock price of $101.52. The current ratio is 368% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive.

Results of stock price testing is that the stock price is probably expensive. The dividend yield tests are saying the stock price is expensive and this is confirmed by the P/S Ratio test. All the tests are saying that the stock price is relatively expensive.

When I look at analysts’ recommendations, I find Strong Buy (2) and Buy (2). The consensus is a Strong Buy. The 12 month stock price consensus is $148.25 with a high of $157.00 and low of $140.00. The consensus stock price of $148.25 implies a total 47.11% with 46.03% from capital gains and 1.08% from dividends based on a current stock price of $101.52.

Mainly analysts on Stock Chase are saying the price is too high. One analyst thinks they have capacity constraints going forward. Amy Legate-Wolfe on Motley Fool says this blue-chip stock is being hammered, but it should not be. Sneha Nahata on Motley Fool says Hammond is a long term bet to capitalize on the growing electrification trend and high power demand. The company put out a press release via Globe Newswire about their fourth quarter of 2024. The company put out a press release via Global Newswire about their first quarter of 2025.

Simply Wall Street via Yahoo Finance reviews this stock and is worried about a high Accrual ratio. Simply Wall Street via Yahoo Finance say that the company is under price. They give a fair value of $161.58 to this stock. Simply Wall Street gives two warnings of high level of non-cash earnings; and earnings are forecast to decline by an average of 1.1% per year for the next 3 years. (Note that the earnings estimates that I picked up show an increase in earnings.)

I calculate an accrual ratio for all my stocks. I must admit the accrual ratio for this stock is positive and high. Generally, it means that the stock price will fall. However, this does not always happen. I have 25 years of data on this company accrual ratio. This ratio has been below 5.00 or above 5.00 14 times. The movement of the stock up or down for the accrual ratio has been correct 6 times. This has occurred mostly when the accrual ratio is pointing to that the stock price will increase. I calculate my accrual ratio based on a paper I read some years ago.

Hammond Power Solutions Inc is engaged in designing and manufacturing custom electrical magnetics, cast resin, custom liquid-filled distribution and power transformers, and standard electrical transformers, serving the electrical and electronic industries. The company operates in various geographical markets including Canada, the United States, Mexico, and India from which it derives majority revenue in the United States and Mexico. Its web site is here Hammond Power Solutions Inc.

The last stock I wrote about was about was Ag Growth International (TSX-AFN, OTC-AGGZF) ... learn more. The next stock I will write about will be Mullen Group Ltd (TSX-MTL, OTC-MLLGF) ... learn more on Wednesday, May 21, 2025 around 5 pm. Tomorrow on my other blog I will write about Friedman on Europe.... learn more on Tuesday, May 20, 2025 around 5 pm.

This blog is meant for educational purposes only and is not to provide investment advice. I am not a licensed professional investment advisor. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

Ag Growth International

Sound bite for Twitter is: Dividend Paying Industrial. Results of stock price testing is that the stock price could be reasonable, but could also be cheap. Debt Ratios need improving and they have too much debt. The Dividend Payout Ratios (DPR) are good. The current dividend yield is low with dividend growth currently negative. See my spreadsheet on Ag Growth International.

Is it a good company at a reasonable price? This is one of the old income trust stocks I bought. It kept up its dividend for a while, but then had to decrease the dividends. A lot o the old income trust stocks have had a hard time getting their dividends right after they were forced to become corporations. I bought this stock also for diversification. I plan to hold on to this stock as I am in stock for the long term and my reasons for buying this stock has not changed. The P/S Ratio test is a good one and it is saying that the stock price is cheap.

I own this stock of Ag Growth International (TSX-AFN, OTC-AGGZF). I wanted to review all the income trust stocks touted in the Money Show of 2009. There was a lot of talk at this show about some of the Unit Trust being currently good buys with very good yields. Its median yield in 2009 was 7.9%. It was on the Canadian Dividend Aristocrats and this is why I first investigated this company. By 2011 when I bought this stock, I have been interested in AFN for some time. This stock is a play on the agricultural sector.

When I was updating my spreadsheet, I noticed this stock has really taken a hit this year. At the end of last year, it was in the $50.00 range, but fell to around $31.00 in April and has since recovered to $38.72. To date I have a total return of 6.03% with 0.73% from capital gains and 5.30% from dividends. This stock really has not done well in total return. See total return chart below.

They had a loss in 2024 was due to a loss on foreign exchange. This is what is different from last year. This is shown in the Finance Expense/Income line. Revenue and AEPS fell in 2024. Analysts think they will go lower in 2025 and then start to recover in 2026 and 2027.

If you had invested in this company in December 2014, for $1,017.18 you would have bought 18 shares at $56.51per share. In December 2024, after 10 years you would have received $278.10 in dividends. The stock would be worth $914.76. Your total return would have been $1,192.86. This would be a total return of 1.88% per year with 1.06% from capital loss and 2.94% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$56.51	$1,017.18	18	10	$278.10	$914.76	$1,192.86

The current dividend yield is low with dividend growth currently negative. The dividend yield is low (below 2%) at 1.53%. The 5 year median dividend yield is low at 1.61%. The 10 year median dividend yield is moderate (2% to 4%) at 33.84%. The historical median dividend yield is good (5% to 6% ranges) at 5.60%. The dividends have decreased by 24% per year over the past 5 years. The dividends were decreased 75% in 2020 and have been flat since.

This stock used to be an income trust. Income Trust companies tended to have high dividend yields as they paid high dividends. When they became corporations, they all have had trouble finding the right level of dividends.

The Dividend Payout Ratios (DPR) are good. The DPR for 2024 for Earnings per Share (EPS) is negative because of earning losses. The DPR for 2024 for Funds from Operations (FFO) is good at 3% with 5 year coverage at 7%. The DPR for 2024 for Adjusted Earnings per Share (AEPS) is good at 13% with 5 year coverage at 15%. The DPR for 2024 for Cash Flow per Share (CFPS) is good at 9% with 5 year coverage at 12%. The DPR for 2024 for Free Cash Flow (FCF) is good at 14% with 5 year coverage at 28%. There is no agreement on what the FCF is, but the values are not that far off.

Item	Cur	5 Years
EPS	-57.14%	-111.65%
FFO	3.12%	7.04%
AEPS	13.02%	14.76%
CFPS	9.32%	12.22%
FCF	14.90%	27.86%

Debt Ratios need improving and they have too much debt. The Long Term Debt/Market Cap Ratio for 2024 is fine but rather high at 0.88 and currently far too high at 1.27. The Liquidity Ratio for 2024 is good at 1.54 and 1.61 currently. The Debt Ratio for 2024 is low at 1.22 and 1.20 currently. I prefer these ratios to be at 1.50 or higher. The Leverage and Debt/Equity Ratios for 2024 are far too high at 5.58 and 4.58 and currently at 6.00 and 5.00. I prefer these ratios to be less than 3.00 and 2.00.

Type	Year End	Ratio Curr
Lg Term	0.88	1.27
Intang/GW	0.57	0.74
Liquidity	1.54	1.61
Liq. + CF	1.77	1.86
Debt Ratio	1.22	1.20
Leverage	5.58	6.00
D/E Ratio	4.58	5.00

The Total Return per year is shown below for years of 5 to 21 to the end of 2024. Under the Capital Gain column is the portion of the Total Return attributable to capital gains. Under the Dividend column is the portion of the Total Return attributable to dividends. See chart below.

From	Years	Div. Gth	Tot Ret	Cap Gain	Div.
2019	5	-24.21%	3.27%	1.82%	1.45%
2014	10	-12.94%	1.88%	-1.06%	2.94%
2009	15	-7.83%	7.48%	2.56%	4.92%
2004	20	-1.31%	17.90%	7.31%	10.59%
2003	21	-1.31%	19.29%	7.95%	11.34%

The 5-year low, median, and high median Price/Earnings per Share Ratios are negative and unusable. The corresponding 10 year ratios are 15.88, 20.25 and 22.84. The corresponding historical ratios are 12.55, 16.43 and 22.90. The current P/E Ratio is 18.33 based on a stock price of $39.22 and EPS estimate for 2025 of $2.14. The current ratio is between the low and median ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I also have Adjusted Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Earnings per Share Ratios are 7.80, 10.04 and 13.88. The corresponding 10 year ratios are 10.07, 14.26 and 17.36. The corresponding historical ratios are 11.99, 16.79 and 21.66. The current P/AEPS Ratio is 11.92 based on a stock price of $39.22 and AEPS estimate for 2025 of $3.29. The current ratio is between the low and median ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I get a Graham Price of $32.35. The 10-year low, median, and high median Price/Graham Price Ratios are 0.96, 1.34 and 1.59. The current P/GP Ratio is 1.21 based on a stock price of $39.22. The current ratio is between the low and median ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I get a 10-year median Price/Book Value per Share Ratio of 2.68. The current P/B Ratio is 2.77 based on a Book Value of $264.9M, Book Value per Share of $14.14 and a stock price of $39.22. The current ratio is 3.5% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable but above the median.

I also have a Book Value per Share estimate for 2025 of $19.00. The analyst calculated the Book Value differently than I do and, in this case, the 10 year median P/B Ratio is 2.58. The BVPS estimate of $19.00 implies a Book Value of $256M and a ratio of 2.06. This ratio is 19.9% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I get a 10-year median Price/Cash Flow per Share Ratio of 11.48. The current P/CF Ratio is 6.18 based on Cash Flow per Share estimate for 2025 of $6.35, Cash Flow of $119M and a stock price of $39.22. The current ratio is 46% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

I get an historical median dividend yield of 5.60%. The current dividend yield is 1.53 based on a dividend of $0.60 and a stock price of $39.22. The current dividend yield is 73% below the historical median dividend yield. This stock price testing suggests that the stock price is relatively expensive. However, this test does not work well when dividends are decreasing or flat.

I get a 10 year median dividend yield of 3.84%. The current dividend yield is 1.53 based on a dividend of $0.60 and a stock price of $39.22. The current dividend yield is 60% below the historical median dividend yield. This stock price testing suggests that the stock price is relatively expensive. However, this test does not work well when dividends are decreasing or flat.

The 10-year median Price/Sales (Revenue) Ratio is 0.84. The current P/S Ratio is 0.54 based on Revenue estimate for 2025 of $1.351M, Revenue per Share of $71.99 and a stock price of $39.22. The current P/S Ratio is 35% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

Results of stock price testing is that the stock price could be reasonable, but could also be cheap. The dividend yield tests are not good because of decreasing and flat dividends. However, the P/S Ratio test is good and says that the stock price is relatively cheap. Most of the rest of the testing is showing the stock price as reasonable and below the median.

When I look at analysts’ recommendations, I find Strong Buy (2), Buy (5) and Hold (1). The consensus would be a Buy. The 12 month stock price consensus is $48.75 with a high of $55.00 and low of $43.00. The consensus stock price of $48.75 implies a total return of 25.83% with 24.30% from capital gains and 1.53% from dividends based on a current stock price of $39.22.

Analysts in 2025 on Stock Chase say Do Not Buy. They say that the company continues to have problems in the farm business. Amy Legate-Wolfe on Motley Fool says buy for the long term and do not worry so much about the short term. She says that they have had a bumpy ride lately. Demetris Afxentiou on Motley Fool says to buy for the long term growth potential. The company put out a press release via Business Wire about their fourth quarter of 2025. The company put out a press release on Business Wire about their first quarter of 2025.

Simply Wall Street via Yahoo Finance reviews this stock mostly positively. Simply Wall Street has one warning of interest payments are not well covered by earnings.

Ag Growth International Inc manufactures portable and stationary grain handling, storage, and conditioning equipment, including augers, belt conveyors, grain storage bins, grain handling accessories, grain aeration equipment, and grain drying systems. It has manufacturing facilities in Canada, the United States, Italy, Brazil, France, the United Kingdom, and India. Its geographical segments are Canada, the United States, and the International. Its web site is here Ag Growth International.

The last stock I wrote about was about was be Power Corp of Canada (TSX-POW, OTC-PWCDF) ... learn more. The next stock I will write about will be Hammond Power Solutions Inc (TSX-HPS.A, OTC-HMDPF) ... learn more on Monday, May 19, 2025 around 5 pm.

This blog is meant for educational purposes only and is not to provide investment advice. I am not a licensed professional investment advisor. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

Power Corp of Canada

Sound bite for Twitter is: Dividend Growth Financial. Results of stock price testing is that the stock price is probably reasonable but above the median. Debt Ratios are fine, but it does have lots of debt. The Dividend Payout Ratios (DPR) are fine. The current dividend yield is moderate with dividend growth low. See my spreadsheet on Power Corp of Canada.

Is it a good company at a reasonable price? I still like life insurance companies for the long term, even though that had it rather rough when interest rates were very low to negative. The current dividend yield is rather high historically and this is a positive. Analysts have a mixed view on where it is the right time to buy or not. It is just off an historical high, so that is a negative. There maybe better deals in TSX stocks than this one. The stock price could be reasonable, but it could also be on the high side that a lot of testing is pointing to.

I own this stock of Power Corp of Canada (TSX-POW, OTC-PWCDF). I started following this stock because it was on the Dividend Achievers, the Dividend Aristocrats lists and also on Mike Higgs’ list. It is a stock that I notice has been recommended lately as good value (October 2008). I got shares in this company when in 2020 Power Corp reorganized and gave out Power Corp Shares to replace Power Financial Shares.

When I was updating my spreadsheet, I noticed I have had this stock for 23 years and I have made several purchases. I have a total return of 13.33% per year with 4.34% from capital gains and 8.99% from dividends.

If you had invested in this company in December 2014, for $1,016.32 you would have bought 32 shares at $31.76 per share. In December 2024, after 10 years you would have received $539.25 in dividends. The stock would be worth $1,434.88. Your total return would have been $1,974.13. This would be a total return of 7.94% per year with 3.51% from capital gain and 4.33% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$31.76	$1,016.32	32	10	$539.25	$1,434.88	$1,974.13

The current dividend yield is moderate with dividend growth low. The current dividend yield is moderate (2% to 4% ranges) at 4.84%. The 5 and 10 year median dividend yields are good (5% to 6% ranges) at 5.38% and 5.32%. The historical median dividend yield is moderate at 2.74%. The dividend increases are low (below 8% per year) at 6.7% per year over the past 5 years. The last dividend increase was in 2025 and it was for 8.9%.

The Dividend Payout Ratios (DPR) are fine. The DPR for 2024 for Earnings per Share (EPS) is fine at 53% with 5 year coverage at 55%. The DPR for 2024 for Adjusted Earnings per Share (AEPS) is good at 48% with 5 year coverage fine at 52%. The DPR for 2024 for Cash Flow per Share (CFPS) is good at 31% with 5 year coverage at 11%. The DPR for 2024 for Free Cash Flow (FCF) is good at 29% with 5 year coverage at 19%.

Item	Cur	5 Years
EPS	52.79%	55.55%
AEPS	48.30%	51.97%
CFPS	30.91%	10.63%
FCF	29.32%	19.43%

Debt Ratios are fine, but it does have lots of debt. The Long Term Debt/Market Cap Ratio for 2024 is high at 8.53 and currently at 6.38. However, we need also to look at the Long Term Debt/Covering Assets Ratio for 2024 which is good at 0.90 and currently at 0.94 because this is a more important ratio for a Financial. The Liquidity Ratio for 2024 is good at 3.22 and 1.45 currently. The Debt Ratio for 2024 is fine for a financial at 1.05 and 1.07 currently. The Financial Leverage for 2024 are good at 29% and currently at 29%.

Type	Year End	Ratio Curr
Lg Term R+A	0.90	0.94
Lg Term R	8.53	6.38
Intang/GW	0.75	0.61
Liquidity	3.22	1.45
Liq. + CF	3.90	1.64
Debt Ratio	1.05	1.07
Financial Lev	29%	29%

The Total Return per year is shown below for years of 5 to 37 to the end of 2024. Under the Capital Gain column is the portion of the Total Return attributable to capital gains. Under the Dividend column is the portion of the Total Return attributable to dividends. See chart below.

From	Years	Div. Gth	Tot Ret	Cap Gain	Div.
2019	5	6.73%	11.23%	6.04%	5.19%
2014	10	6.67%	7.94%	3.51%	4.43%
2009	15	4.40%	6.98%	2.90%	4.08%
2004	20	7.18%	5.33%	1.86%	3.47%
1999	25	9.22%	9.68%	5.28%	4.40%
1994	30	10.20%	13.40%	7.89%	5.51%
1989	35	10.15%	11.49%	7.20%	4.30%
1987	37	9.58%	11.13%	7.09%	4.04%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 8.62, 10.00 and 11.37. The corresponding 10 year ratios are 9.15, 10.51 and 11.78. The corresponding historical ratios are 10.40, 12.22 and 16.24. The current ratio is 9.31 based on a stock price of $50.60 and EPS estimate for 2025 of $5.44. The ratio is between the low and median ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I also have Adjusted Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Earnings per Share Ratios are 7.33, 8.71 and 10.41. The corresponding 10 year ratios are 7.94, 9.11 and 10.47. The corresponding historical ratios are 9.58, 10.88 and 11.90. The current ratio is 9.75 based on a stock price of $50.60 and AEPS estimate for 2025 of $5.19. The current ratio is between the median and high ratios of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable but above the median.

I get a Graham Price of $64.82. The 10-year low, median, and high median Price/Graham Price Ratios are 0.58, 0.65 and 0.75. The current P/GP Ratio is 0.78 based on a stock price of $50.60. The current ratio is above the high ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively expensive.

I get a 10-year median Price/Book Value per Share Ratio of 1.06. The current P/B Ratio is 1.41 based on a stock price of 50.60, Book Value of $23,199M, and Book Value per Share of $35.98. The current ratio is 33% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive.

I also have a Book Value per Share estimate for 2025 of $37.48. This implies a ratio of 1.31 based on a stock price of $60.50 and Book Value of $24,812M. This ratio is 24% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive.

I get a 10-year median Price/Cash Flow per Share Ratio of 2.17. The current P/CF Ratio is 6.14 based on Cash Flow per Share for the last 12 months of $8.23, Cash Flow of $5,310 and a stock price of 50.60. The current ratio is 183% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive.

I get an historical median dividend yield of 2.74%. The current dividend yield is 4.84% based on dividends of 2.45 and a stock price of $50.60. The current yield is 77% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively cheap.

I get a10 yar median dividend yield of 5.32%. The current dividend yield is 4.84% based on dividends of 2.45 and a stock price of $50.60. The current yield is 9% below the 10 year median dividend yield. This stock price testing suggests that the stock price is relatively reasonable but above the median. The current dividend yields are higher than they were in the past.

The 10-year median Price/Sales (Revenue) Ratio is 0.33. The current P/S Ratio is 0.44 based on Revenue estimate for 2025 of $73,320M, Revenue per Share of $113.71 and a stock price of $50.60. The current ratio is 36% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive. The problem is that the International Accounting Standard board has been changing the rules on revenue for insurance companies. I wonder how good this test is.

Results of stock price testing is that the stock price is probably reasonable but above the median. This is what the 10 year median dividend yield test says. A lot of the tests say that the stock price is expensive and this is a negative. I wonder about the P/S Ratio test as accounting rules have been changing this year for life insurance companies. That makes continuity in my spreadsheets rather hard.

When I look at analysts’ recommendations, I find Strong Buy (2), Buy (2), Hold (3) and Underperform (1). The consensus would be a buy. The 12 month stock price consensus is $54.44 with a high of $61.00 and a low of $44.50. The stock price consensus price of $54.44 implies a total return of 12.43% with 7.59% from capital gains and 4.84% from dividends.

Analysts on Stock Chase mainly see this as a buy and a defensive type stock. Brian Paradza on Motley Fool see this stock as an attractive dividend-growth stock. Puja Tayal on Motley Fool see this company as a cash-gushing dividend stock. The company put out a Press Release about their fourth quarter of 2024.

Simply Wall Street via Motley Fool talks about this stock as one of three top TSX dividend stocks yielding up to 4.9%. Simply Wall Street via Yahoo Finance talks about who owns stock in this company. They say insiders are selling. I follow 7 officers and directors. Two increased their shares, two sold some shares and the directors maintained what they had. For example, the CEO increase his shares by 33% and an officer decreased his by 7.07%.

Power Corporation of Canada is a holding company with controlling interests in Great-West Lifeco (an insurance conglomerate), IGM Financial (Canada's largest nonbank asset manager), and other alternative asset-management platforms (Sagard and Power Sustainable). The company also has minority interests in Groupe Bruxelles Lambert (a holding company with interests in European companies) and ChinaAMC (an asset manager in China). Its web site is here Power Corp of Canada.

The last stock I wrote about was about was McCoy Global Inc (TSX-MCB, OTC-MCCRF) ... learn more. The next stock I will write about will be Ag Growth International (TSX-AFN, OTC-AGGZF) ... learn more on Friday, May 16, 2025 around 5 pm. Tomorrow on my other blog I will write about Capitalism Not Based on Greed .... learn more on Thursday, May 15, 2025 around 5 pm.

This blog is meant for educational purposes only and is not to provide investment advice. I am not a licensed professional investment advisor. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

McCoy Global Inc

Sound bite for Twitter is: Dividend Paying Industrial. Debt Ratios are very good. Results of stock price testing is that the stock price is maybe reasonable? The Dividend Payout Ratios (DPR) are good. The current dividend yield is moderate with dividend growth restarting. See my spreadsheet on McCoy Global Inc.

Is it a good company at a reasonable price? It is always a good sign when a stock restarts their dividend payments which this company did in 2023. They have had one increase since then. I plan to keep the shares that I have. I have no current plans to buy any more, but then I have no current plans to buy any stock. The stock price may be at a reasonable price, but could take off if it broke out of $3.50 resistance level.

I own this stock of McCoy Global Inc (TSX-MCB, OTC-MCCRF). I decided to try out McCoy. They had just restored their dividend. I want to use it as a fuller stock in my TFSA account. For me a fuller stock is one that uses up bits of extra money in an account.

When I was updating my spreadsheet, I noticed I have not done well with this stock, but better than last year. This stock was bought with my fooling around money. Last year my total return after 13 was 0.27% with a capital loss of 0.60% and dividends of 0.87%. This year is better with total return of 5.96% with 5.08% from capital gains and 0.88% from dividends after 14 years. I seemed to have paid too much for this stock in 2011 and 2014.

When checking on insiders that I follow, I found that everyone that I follow, except for the Chairman, bought lots of stock over the past year.

If you had invested in this company in December 2014, for $1,003.80 you would have bought 239 shares at $4.20 per share. In December 2024, after 10 years you would have received $47.80 in dividends. The stock would be worth $678.76. Your total return would have been $726.56. This would be a total loss of 3.27% per year with 3.84% from capital loss and 0.57% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$4.20	$1,003.80	239	10	$47.80	$678.76	$726.56

However, if you had invested in this company in December 2019, for $1,000.20 you would have bought 1,667 shares at $0.60 per share. In December 2024, after 5 years you would have received $166.70 in dividends. The stock would be worth $4,734.28. Your total return would have been $4,900.98. This would be a total gain of 37.49% per year with 36.47% from capital gain and 1.02% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$0.60	$1,000.20	1,667	5	$166.70	$4,734.28	$4,900.98

The current dividend yield is moderate with dividend growth restarting. The current dividend yield is moderate (2% to 4% ranges) at 3.21%. The 5, 10 and historical dividend yields are low at 0%, 0% and 0.56%. This is because dividends were suspended in 2015 and then reinstated in 2023. The 5 year dividend growth cannot be calculated because 5 years ago there were no dividends. Dividends in 2023 when from $0.01 to $0.02 to $0.025 between 2023 to 2025. The last dividend increase was in 2025 and it was for 25%.

The Dividend Payout Ratios (DPR) are good. The DPR for 2024 for Earnings per Share (EPS) is good at 25%. The DPR for 2024 for Adjusted Earnings per Share (AEPS) is good at 14%. The DPR for 2024 for Cash Flow per Share (CFPS) is good at 14% with 5 year coverage at 14%. The DPR for 2024 for Free Cash Flow (FCF) is good at 42%. There is no agreement on what the FCF is. Also, the 5 year ratios do not matter as they do not cover 5 years, so they are low.

Item	Cur	5 Years
EPS	25.00%	10.87%
CFPS	13.61%	6.66%
FCF	41.73%	16.73%

Debt Ratios are very good. The Long Term Debt/Market Cap Ratio for 2024 is good at 0.00 and currently at 0.00 as they have no long term debt. The Liquidity Ratio for 2024 is good at 2.58 and 2.77 currently. The Debt Ratio for 2024 is good at 3.09 and 3.40 currently. The Leverage and Debt/Equity Ratios for 2024 are good at 1.48 and 0.48 and currently at 1.42 and 0.42.

Type	Year End	Ratio Curr
Lg Term R	0.00	0.00
Intang/GW	0.14	0.11
Liquidity	2.58	2.77
Liq. + CF	2.73	2.99
Debt Ratio	3.09	3.40
Leverage	1.48	1.42
D/E Ratio	0.48	0.42

The Total Return per year is shown below for years of 5 to 27 to the end of 2024. Under the Capital Gain column is the portion of the Total Return attributable to capital gains. Under the Dividend column is the portion of the Total Return attributable to dividends. See chart below.

From	Years	Div. Gth	Tot Ret	Cap Gain	Div.
2019	5	0.00%	37.49%	36.47%	1.02%
2014	10	-8.76%	-3.27%	-3.84%	0.57%
2009	15	6.76%	8.43%	4.63%	3.80%
2004	20	0.00%	2.28%	0.07%	2.20%
1999	25		3.17%	1.21%	1.95%
1997	27		0.80%	-0.61%	1.41%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 3.50, 4.96 and 6.43. The corresponding 10 year ratios are 0.53, 0.78 and 1.04. The corresponding historical ratios are 3.50, 7.40 and 10.09. The current ratio is 9.63 based on a stock price of $3.37 and EPS estimate for 2025 of $0.35. According to the 10 year ratios, this ratio is high, but the P/E Ratios on this stock are very low. They are low because of a number of years of negative earnings. Generally, a P/E Ratio of less than 10.00 is showing the stock as relatively cheap.

I get a Graham Price of $4.39. The 10-year low, median, and high median Price/Graham Price Ratios are 0.30, 0.48 and 0.67. The current ratio is 0.77 based on a stock price of $3.37. According to the 10 year P/GP Ratios, the stock price is relatively expensive, but generally a P/GP of less than 1.00 is considered cheap.

I get a 10-year median Price/Book Value per Share Ratio of 0.82. The current ratio is 1.38 based on a stock price of $3.37, Book Value of $65.8M and Book Value per Share of $2.45. This P/B Ratio is 67% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive. However, a P/B Ratio of less than 1.50 is considered at lease reasonable.

I get a 10-year median Price/Cash Flow per Share Ratio of 4.73. The current P/CF Ratio is 11.11 based on Cash Flow of 8.2M, Cash Flow per Share of $0.30 and a stock price of $3.37. This ratio is 135% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive.

I get an historical median dividend yield of 0.56%. The current dividend yield is 2.97% based on dividends of $0.10 and a stock price of $3.37. The current dividend yield is 430% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively cheap.

I cannot do a 10 year median dividend yield test as the 10 year dividend yield is zero. However, if you look at the period when this company more consistently paid dividends from 2004 to 2015, I get a median dividend yield of 2.13%. The current dividend yield is 39% above this dividend yield. This stock price testing suggests that the stock price is relatively cheap.

The 10-year median Price/Sales (Revenue) Ratio is 0.64. The current P/S Ratio is 0.99 based on Revenue estimate for 2025 of $91.2M, Revenue per Share of $3.39 and a stock price of $3.37. The current P/S Ratio is 62% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive.

If you look at the stock chart, the stock price is off the recent high, but the stock price is hitting a line of resistance at just below $3.50. If it can break through this line of resistance, then it might be a buy.

Results of stock price testing is that the stock price is maybe reasonable? The dividend yield test says it is cheap. The P/S Ratio test says it is expensive. Most of the testing is saying that the stock price is relatively expensive but there are problems with a number of the tests.

When I look at analysts’ recommendations, I find Strong Buy (1) only. The consensus would be a Strong Buy. The 12 month stock price given is $6.00, with a high of $6.00 and low of $6.00. There seems to be only one analyst following this stock. The consensus stock price of $6.00 implies a total return of 81.01% with 78.04% from capital gains and 2.97% from dividends based on a current price of $3.37.

Last year when I look at analysts’ recommendations, I found Strong Buy (1), Buy (2) and Hold (1). The consensus would be a Buy. Target price was $2.30 with a low of $2.26 and high of $2.33. The consensus price of $2.33 implies a total return of 14.76% with 10.95% from capital gains and 3.81% from dividends based on a stock price of $2.10. What happened is the stock price moved to $3.37 for a gain of 64.29% with 60.48% from capital gains and 3.81% from dividends based on a stock price of $2.10.

Analysts on Stock Chase talk about the company bring new software product to market and the stock popped because of this. Analysts are being cautious about this until more is known. Joseph Solitro on Motley Fool reviewed this stock in 2015. The company put out a press release on Globe and Mail about their first quarter of 2025. The company put out a press release on Newswire about their fourth quarter of 2024.

Simply Wall Street via Yahoo Finance put out a article about Penny Stocks to watch and included McCoy in this article. Simply Wall Street via Yahoo Finance put out an article about dividends from this company in March 2025. They think that the company can easily cover their dividend payments. Simply Wall Street has two warnings out on this stock of does not have a meaningful market cap (CA$85M); and unstable dividend track record. They are right about unstable dividend track record as dividend have just restarted in 2023.

McCoy Global Inc is a provider of equipment and technologies to support tubular running operations, enhance wellbore integrity, and assist with collecting critical data for the energy industry. In addition, the company also focuses on supporting capital equipment sales through aftermarket products and services such as technical support, consumables, and replacement parts. Geographically, it derives key revenue from the United States and Latin America. Its web site is here McCoy Global Inc.

The last stock I wrote about was about was Thomson Reuters Corp (TSX-TRI, NYSE-TRI) ... learn more. The next stock I will write about will be Power Corp of Canada (TSX-POW, OTC-PWCDF) ... learn more on Wednesday, May 14, 2025 around 5 pm. Tomorrow on my other blog I will write about Metro .... learn more on Tuesday, May 13, 2025 around 5 pm.

This blog is meant for educational purposes only and is not to provide investment advice. I am not a licensed professional investment advisor. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

Thomson Reuters Corp

Sound bite for Twitter is: Dividend Growth Consumer. Results of stock price testing is that the stock price is that the stock price is relatively expensive. Debt Ratios are generally good, but the Liquidity Ratio is low. The Dividend Payout Ratios (DPR) are fine. The current dividend yield is low with dividend growth moderate. See my spreadsheet on Thomson Reuters Corp .

Is it a good company at a reasonable price? The insight to the sell recommendations seems to be that the stock is expensive. I do not sell good stocks because they are overpriced. I do plan to keep this stock. If you own a stock for a long period of time it is sometimes going to be overpriced and sometimes underpriced. This is a dividend growth stock and therefore the sort I like.

I own this stock of Thomson Reuters Corp (TSX-TRI, NASDAQ-TRI). I bought this stock in 1985 so I have had it for a very long time, almost 30 years. I bought stock to give portfolio some balance as I had too many financial stocks. Performance has often been mediocre.

When I was updating my spreadsheet, I noticed I have had this stock for 38 years and I have made a total return of 9.67% per year with 7.68% from capital gains and 1.99% from dividends.

If you had invested in this company in December 2014, for $1,1031.14 you would have bought 22 shares at $46.87 per share. In December 2024, after 10 years you would have received $652.82 in dividends. The stock would be worth $5,078.04. Your total return would have been $5,730.86. This would be a total return of 20.05% per year with 17.28% from capital gain and 2.77% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$46.87	$1,031.14	22	10	$652.82	$5,078.04	$5,730.86

The current dividend yield is low with dividend growth moderate. The current dividend yield is low (below 2%) at 1.26%. The 5 year median dividend yield is also low at 1.35%. The 10 year and historical median dividend yields are moderate (2% to 4% ranges) at 2.29% and 2.62%. The dividend growth is moderate (8% to 14% ranges) at 8.5% per year over the past 5 years. The last dividend increase was in 2025 and it was for 10.2%. (Note: dividend increases have been lower for years 10 to 39. See chart on total return below.)

The DPR for 2024 for Earnings per Share (EPS) is good at 44% with 5 year coverage a little high at 50%. The DPR for 2024 for Adjusted Earnings per Share (AEPS) is fine but a bit high at 57% with 5 year coverage too high at 70%. The DPR for 2024 for Cash Flow per Share (CFPS) is a bit high at 43% with 5 year coverage too high at 74%. The DPR for 2024 for Free Cash Flow (FCF) is fine at 52% with 5 year coverage at 55%. (There is no agreement on FCF, but they are not that far apart in value.)

Item	Cur	5 Years
EPS	44.17%	50.42%
AEPS	57.29%	69.58%
CFPS	42.61%	74.21%
FCF	51.64%	54.66%

Debt Ratios are generally good, but the Liquidity Ratio is low. The Long Term Debt/Market Cap Ratio for 2024 is good at 0.03 and currently at 0.02. The Liquidity Ratio for 2024 is low at 1.02 and 0.91currently. If you added in Cash Flow after dividends, the ratios are still low at 1.45 and currently at 1.38. I prefer the Liquidity ratio to be at 1.50 or higher. The Debt Ratio for 2024 is good at 2.87 and 2.99 currently. The Leverage and Debt/Equity Ratios for 2024 are good at 1.54 and 0.54 and currently at 1.50 and 0.50.

Type	Year End	Ratio Curr
Lg Term R	0.03	0.02
Intang/GW	0.14	0.13
Liquidity	1.02	0.91
Liq. + CF	1.45	1.38
Liq. + CF+D	1.73	1.66
Debt Ratio	2.87	2.99
Leverage	1.54	1.50
D/E Ratio	0.54	0.50

The Total Return per year is shown below for years of 5 to 39 to the end of 2024 CDN$. Under the Capital Gain column is the portion of the Total Return attributable to capital gains. Under the Dividend column is the portion of the Total Return attributable to dividends. See chart below.

From	Years	Div. Gth	Tot Ret	Cap Gain	Div.
2019	5	9.84%	22.82%	19.97%	2.85%
2014	10	7.62%	20.05%	17.28%	2.77%
2009	15	6.10%	16.18%	13.63%	2.55%
2004	20	5.75%	10.75%	8.86%	1.89%
1999	25	4.63%	9.23%	7.37%	1.86%
1994	30	5.33%	11.78%	9.03%	2.75%
1989	35	5.57%	10.90%	8.30%	2.60%
1985	39	6.22%	9.59%	7.41%	2.19%

The Total Return per year is shown below for years of 5 to 34 to the end of 2024 US$. Under the Capital Gain column is the portion of the Total Return attributable to capital gains. Under the Dividend column is the portion of the Total Return attributable to dividends. See chart below.

From	Years	Div. Gth	Tot Ret	Cap Gain	Div.
2019	5	8.45%	20.12%	17.50%	2.62%
2014	10	5.05%	17.34%	14.78%	2.55%
2009	15	4.48%	13.76%	11.24%	2.52%
2004	20	5.40%	10.64%	7.87%	2.77%
1999	25	4.87%	10.02%	7.47%	2.55%
1994	30	5.26%	12.29%	8.90%	3.39%
1990	34	4.85%	9.99%	7.29%	2.69%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 26.69, 30.68 and 34.16. The corresponding 10 year ratios are 20.14, 22.45 and 24.75. The corresponding historical ratios are 19.67, 20.89 and 24.28. The current P/E Ratio is 56.20 based on a stock price of $261.51 and EPS estimate for 2025 of $4.65 ($3.37 US$). This ratio is above the high ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively expensive. This testing is done in CDN$.

I also have Adjusted Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Earnings per Share Ratios are 36.16, 41.10 and 46.63. The corresponding 10 year ratios 34.87, 39.42, 46.33. The corresponding historical ratios are 19.56, 22.34 and 25.01. The current P/AEPS is 49.07 based on AEPS estimate for 2025 of $3.84 and a stock price of $188.44. This stock price testing suggests that the stock price is relatively expensive. This testing is done in US$. You will get a similar result in CDN$.

I get a Graham Price of $67.45. The 10-year low, median, and high median Price/Graham Price Ratios are 2.15, 2.61 and 3.10. The current P/GP Ratio is 3.87 based on a stock price of $261.51. This ratio is above the high ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively expensive. This testing is done in CDN$.

I get a 10-year median Price/Book Value per Share Ratio of 3.33. The current P/B Ratio is 6.90 based on a stock price of $188.44, Book Value of $12,296M, and Book Value per Share of $27.32. The current ratio is 107% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive. This testing is done in US$. You will get a similar result in CDN$.

I also have a Book Value per Share estimate for 2025 of $27.36. This implies a ratio of 6.89 based on a stock price of $188.44 and Book Value of $12,312M. The current ratio is 107% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive. This testing is done in US$. You will get a similar result in CDN$.

I get a 10-year median Price/Cash Flow per Share Ratio of 22.72. The current ratio is 35.54 based on Cash Flow per Share estimate for 2025 of $5.62, Cash Flow of $2,528M and a stock price of $188.14. The current ratio is 48% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive. This testing is done in US$. You will get a similar result in CDN$.

I get an historical median dividend yield of 2.62%. The current dividend yield is 1.26% based on dividends of $2.38 and a stock price of $188.44. The current dividend yield is 52% below the historical median dividend yield. This stock price testing suggests that the stock price is relatively expensive. This testing is done in US$. You will get a similar result in CDN$.

I get a 10 median dividend yield of 2.29%. The current dividend yield is 1.26% based on dividends of $2.38 and a stock price of $188.44. The current dividend yield is 45% below the 10 year median dividend yield. This stock price testing suggests that the stock price is relatively expensive. This testing is done in US$. You will get a similar result in CDN$.

The 10-year median Price/Sales (Revenue) Ratio is 5.42. The current P/S Ratio is 11.32 based on Revenue estimate of $7,490M, Revenue per Share of $16.64 and a stock price of $188.44. The current ratio is 109% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive. This testing is done in US$. You will get a similar result in CDN$.

Results of stock price testing is that the stock price is that the stock price is relatively expensive. I did most of the testing in US$ because the financial statements are in US$ as are the estimates. The 10 year median dividend yield test says this stock is expensive as does the P/S Ratio test. All the tests say the same thing. The stock price is also at an all time high. It is never a good idea to buy at an all time high.

When I look at analysts’ recommendations, I find Strong Buy (1), Buy (3), Hold (11) and Sell (3). The consensus would be a hold. The 12 month stock price is $259.19 ($187.87) with a high of 289.72 ($210.00) and low of $209.33 ($151.73). The consensus stock price of $259.19 implies a total return of 0.37% with a capital loss of 0.89% and dividends of 1.26%.

There is only one entry on Stock Chase for 2025 and it is a buy but feels you should buy in the $245 range. There was lots of entry for 2024 both Buy and Do Not Buy. Mainly some thought the stock is overpriced. Daniel Da Costa on Motley Fool thought this was a top media company to buy. Aditya Raghunath on Motley Fool thinks this is a top blue chip stock to buy. The company put out a Press Release about their fourth quarter of 2024. The company put out a Press Release on their first quarter of 2025.

Simply Wall Street via Yahoo Finance reviews this stock. They have one warning of significant insider selling over the past 3 months. (I wonder if they are not confusing insiders not taking up options with actual selling.) The officers I follow all increased their shares over the past year. For Directors they either had no change or an increase in shares.

Thomson Reuters is the result of the megamerger of Canada's Thomson and the United Kingdom's Reuters Group in 2008. Thomson Reuters' three largest segments are its legal professionals, Tax and accounting, and corporates segments. Thomson Reuters' smaller segments include its Reuters news business and global print business. Its web site is here Thomson Reuters Corp .

The last stock I wrote about was about was Algoma Central Corporation (TSX-ALC, OTC-AGMJF) ... learn more. The next stock I will write about will be McCoy Global Inc (TSX-MCB, OTC-MCCRF) ... learn more on Monday, May 12, 2025 around 5 pm.

This blog is meant for educational purposes only and is not to provide investment advice. I am not a licensed professional investment advisor. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

See my site for an index to these blog entries and for stocks followed. I have three blogs. The first talks only about specific stocks and is called Investment Talk. The second one contains information on mostly investing and is called Investing Economics Mostly. My last blog is for my book reviews and it is called Non-Fiction Mostly. Follow me on Twitter. I am on Instagram. Or you can just Google #walktoronto spbrunner8166 to see my pictures.

Algoma Central Corporation

Sound bite for Twitter is: Dividend Growth Industrial. Results of stock price testing is that the stock price is probably reasonable, but could be cheap. Debt Ratios are fine, but they should improve the Liquidity Ratio. The Dividend Payout Ratios (DPR) are fine. The current dividend yield is good with dividend growth moderate. See my spreadsheet on Algoma Central Corporation.

Is it a good company at a reasonable price? This company has been in business a very long time. I have data for the past 36 years. They have produced a reasonable return to shareholders over this time. I believe a reasonable return to be 8% including capital gains and dividends. It is a bit cyclical, so you have to buy at a reasonable price. It could be cheap as the dividend yield tests say this and the Dividend Payout Ratio is reasonable (that is at or below the 40% range). Also. dividend increases are sporadic.

I do not own this stock of Algoma Central Corporation (TSX-ALC, OTC-AGMJF). I got the name from the internet. The description was that Algoma Central Corporation is a Canadian shipping company. It operates Canadian flag fleet of dry and liquid bulk carriers operating on the Great Lakes. The company operates its business through six segments that are Domestic Dry-Bulk, Product Tankers, Ocean Self Unloaders, Corporate, Investment Properties, and Global Short Sea Shipping.

When I was updating my spreadsheet, I noticed that the 5 year total return per year of 15.56% is a lot higher than the 10 year total return per year of 7.75%. The last time that the total return per year was below 8% was for year 20 when it was 7.97% per year. One analyst says the business is cyclical, so this does point to this.

If you had invested in this company in December 2014, for $1,010.61 you would have bought 78 shares at $12.96 per share. In December 2024, after 10 years you would have received $762.84 in dividends. The stock would be worth $1,154.40. Your total return would have been $1,917.24. This would be a total return of 7.75% per year with 1.34% from capital gain and 6.41% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$12.96	$1,010.61	78	10	$762.84	$1,154.40	$1,917.24

If you had invested in this company in December 2016, for $1,001.84 you would have bought 92 shares at $10.89 per share. In December 2024, after 5 years you would have received $675.28 in dividends. The stock would be worth $1,361.60. Your total return would have been $2,036.88. This would be a total return of 18.56% per year with 6.33% from capital gain and 12.23% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$10.89	$1,001.84	92	5	$675.28	$1,361.60	$2,036.88

The current dividend yield is good with dividend growth moderate. The dividend yield is good (5% to 6% ranges) at 5.16%. The 5, 10 and historical median dividend yields are moderate (2% to 4% ranges) at 4.66%, 3.93% and 2.93%. The dividend growth is moderate (8% to 14% ranges) at 13% per year over the past 5 years. The last dividend increase was for 5.3% and it occurred in 2025. The company has had 14 dividend increases in the past 36 years. Over the last 7 years the increases were 2.50%, 21.95%, 36.00%, 0.00%, 5.88%, 5.56%, and 5.26%.

The Dividend Payout Ratios (DPR) are fine. The DPR for 2024 for Earnings per Share (EPS) is good at 33% with 5 year coverage high at 71%. The DPR for 2024 for Adjusted Earnings per Share (AEPS) is good at 39% with 5 year coverage at 36%. The DPR for 2024 for Cash Flow per Share (CFPS) is good at 21% with 5 year coverage at 37%. The DPR for 2024 for Free Cash Flow (FCF) is non-calculable because of a negative FCF with 5 year coverage high at 183%. FCF varies a lot depending on where you look.

Item	Cur	5 Years
EPS	33.19%	70.71%
AEPS	38.58%	35.71%
CFPS	20.81%	37.38%
FCF	-69.16%	182.77%

Debt Ratios are fine, but they should improve the Liquidity Ratio. The Long Term Debt/Market Cap Ratio for 2024 is fine at 0.56 and currently at 0.69. The Liquidity Ratio for 2024 is too low at 0.73 and 0.52 currently. If you added in Cash Flow after dividends, the ratios are still low at 1.39 and currently too low 0.94. If you add back in current portion of the debt, the ratio is still low at 1.34 and fine currently at 1.77. The Debt Ratio for 2024 is good at 2.44 and 2.05 currently. The Leverage and Debt/Equity Ratios for 2024 are good at 1.69 and 0.69 and currently at 1.95 and 0.95.

Type	Year End	Ratio Curr
Lg Term R	0.56	0.69
Intang/GW	0.01	0.01
Liquidity	0.73	0.52
Liq. + CF	1.39	0.94
Liq. + CF+D	1.34	1.77
Debt Ratio	2.44	2.05
Leverage	1.69	1.95
D/E Ratio	0.69	0.95

The Total Return per year is shown below for years of 5 to 36 to the end of 2024. Under the Capital Gain column is the portion of the Total Return attributable to capital gains. Under the Dividend column is the portion of the Total Return attributable to dividends. See chart below.

From	Years	Div. Gth	Tot Ret	Cap Gain	Div.
2019	5	13.14%	18.56%	6.33%	12.23%
2014	10	10.50%	7.75%	1.34%	6.41%
2009	15	10.08%	11.90%	5.97%	5.93%
2004	20	10.67%	7.97%	3.74%	4.23%
1999	25	8.45%	12.94%	7.79%	5.15%
1994	30	n/c	12.69%	7.65%	5.03%
1989	35	6.64%	11.73%	7.69%	4.04%
1988	36	7.31%	9.79%	6.30%	3.48%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 6.16, 7.72 and 8.31. The corresponding 10 year ratios are 7.02, 8.34 and 9.62. The corresponding historical ratios are 7.01, 8.19 and 9.62. The current P/E Ratio is 8.24 based on a stock price of $15.50 and EPS estimate for 2025 of $1.88. The current ratio is between the low and median ratios of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I also have Adjusted Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Earnings per Share Ratios are 7.13, 7.50, and 7.84. The corresponding 10 year ratios are 9.08, 10.23 and 11.38. The corresponding historical ratios are 7.15, 8.47 and 10.42. The current ratio is 8.24 based on a stock price of $15.50, AEPS estimate for 2025 of $1.88. The current ratio is between the low and median ratios of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I get a Graham Price of $30.24. The 10-year low, median, and high median Price/Graham Price Ratios are 0.48, 0.53 and 0.58. The current P/GP Ratio is 0.51 based on a stock price of $15.50. The current ratio is between low and median ratio of the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I get a 10-year median Price/Book Value per Share Ratio of 0.67. The current ratio is 0.72 based on a Book Value of $877M, Book Value per Share of $22.18 and a stock price of $15.50. The current ratio is 7% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable but above the median.

I get a 10-year median Price/Cash Flow per Share Ratio of 4.47. The current ratio is 3.87 based on Cash Flow for the last 12 months of $163M, Cash Flow per Share of $4.01 and a stock price of $15.50. The current ratio is 13% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I get an historical median dividend yield of 2.93%. The current dividend yield is 5.16% based on dividends of $0.80 and a stock price of $15.50. The current dividend yield is 76% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively cheap.

I get a 10 year median dividend yield of 3.93%. The current dividend yield is 5.16% based on dividends of $0.80 and a stock price of $15.50. The current dividend yield is 31% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively cheap.

The 10-year median Price/Sales (Revenue) Ratio is 0.89. The current P/S Ratio is 0.84 based on Revenue estimate for 2025 of $735.9M, Revenue per Share of $18.14 and a stock price of $15.50. The current ratio is 4% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median.

Results of stock price testing is that the stock price is probably reasonable, but could be cheap. The dividend yield tests, especially the 10 year dividend yield test, says that the stock price is relatively cheap. The P/S Ratio test says that it is reasonable, and below the median. Most of the rest of the testing is say that the stock price is reasonable and below the median.

When I look at analysts’ recommendations, I find Strong Buy (0), and Buy (1). The consensus would be a Buy. The 12 month target price is $19.00 with a high of $19.00 and low of $19.00. There is only one analyst following this stock. The consensus stock price of $19.00 implies a total return of 27.74% with 22.38% from capital gains and 5.16% from dividends.

There is an entry on Stock Chase for 2024 that says do not buy because its business is very capital intensive and economically cyclical. This stock is not well followed. Christopher Liew on Motley Fool says this is a transport stock to buy and hold. Ambrose O'Callaghan on Motley Fool in 2022 talked about this stock and liked it for its high dividend yield. The company put out a press release via the Globe and Mail about its fourth quarter of 2024. The company put out a press release via the Globe and Mail about their first quarter of 2025.

Simply Wall Street via Yahoo Finance reviews the Return on Capital Employed for this stock and says it is low. Simply Wall Street via Yahoo Finance talks about this stock being up 183% over past 5 years. Simply Wall Street has two warnings out for this stock of has a high level of debt; and dividend of 5.25% is not well covered by free cash flows.

Algoma Central Corp owns and operates a fleet of dry and liquid bulk carriers on the Great Lakes, St. Lawrence Waterway. The company's Canadian flag fleet consists of self-unloading dry-bulk carriers, gearless dry-bulk carriers, and product tankers. The company earns revenues from marine operations through contracts of affreightment, time charters, and pool revenue. Its web site is here Algoma Central Corporation.

The last stock I wrote about was about was WSP Global Inc (TSX-WSP, OTC-WSPOF) ... learn more. The next stock I will write about will be Thomson Reuters Corp (TSX-TRI, NYSE-TRI) ... learn more on Friday, May 9, 2025 around 5 pm. Tomorrow on my other blog I will write about Something to Buy May 2025.... learn more on Thursday, May 8, 2025 around 5 pm.

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