TMX Group Ltd

Sound bite for Twitter is: Dividend Growth Financial. Results of stock price testing is that the stock price is probably relatively expensive. Debt Ratios are fine. The Dividend Payout Ratios (DPR) are good. The current dividend yield is low with dividend growth moderate. See my spreadsheet on TMX Group Ltd.

Is it a good company at a reasonable price? This company has been performing well for shareholders. It is a dividend growth stock as I like. However, it is currently testing as relatively expensive.

I do not own this stock of TMX Group Ltd (TSX-X, OTC-TMXXF). I looked at this stock in 2008 after I found it on a list of Strongest Dividend Growth stocks. I am interested in such stocks.

When I was updating my spreadsheet, I noticed they have well for their shareholders giving good dividend raises and the stock price has gone up with rising Revenue and Earnings.

If you had invested in this company in December 2014, for $1,001.88 you would have bought 99 shares at $10.12 per share. In December 2024, after 10 years you would have received $519.95 in dividends. The stock would be worth $4,383.72. Your total return would have been $4,903.67. This would be a total return of 18.51% per year with 15.91% from capital gain and 2.61% from dividends. This calculation takes into consideration stock splits, which means that the original cost would be lowered by these splits.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$10.12	$1,001.88	99	10	$519.95	$4,383.72	$4,903.67

The current dividend yield is low with dividend growth moderate. The current dividend yield is low (below 2%) at 1.45%. The 5, 10 and historical median dividend yields are moderate (2% to 4% ranges) at 2.35%, 2.56% and 2.78%. The dividend increases are moderate (8% to 14% ranges) at 8.6% per year over the past 5 years. The last dividend increase was for 5.3%. and it was in 2025. Dividend increases have been tracking lower since 2021 when the increase year over year was 10.66%.

The Dividend Payout Ratios (DPR) are good. The current dividend yield is low with dividend growth moderate. The DPR for 2024 for Earnings per Share (EPS) is good at 43% with 5 year coverage at 46%. The DPR for 2024 for Adjusted Earnings per Share (AEPS) is good at 44% with 5 year coverage at 46%. The DPR for 2024 for Cash Flow per Share (CFPS) is good at 26% with 5 year coverage at 29%. The DPR for 2024 for Free Cash Flow (FCF) is good at 40% with 5 year coverage at 45%.

Item	Cur	5 Years
EPS	43.35%	45.85%
AEPS	44.12%	45.57%
CFPS	25.73%	28.62%
FCF	40.72%	44.64%

Debt Ratios are fine. The Long Term Debt/Market Cap Ratio for 2024 is good at 0.15 and currently at 0.12. The Liquidity Ratio for 2024 is low at 1.01 and 1.01 currently. If you added in Cash Flow after dividends, the ratios are still low at 1.02 and currently at 1.02. The Debt Ratio for 2024 is fine for a financial at 1.14 and 1.10 currently.

Type	Year End	Ratio Curr
Lg Term R	0.15	0.12
Intang/GW	0.41	0.48
Liquidity	1.01	1.01
Liq. + CF	1.02	1.02
Debt Ratio	1.14	1.10

The Total Return per year is shown below for years of 5 to 22 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.
2018	5	8.62%	16.72%	14.51%	2.21%
2013	10	8.89%	18.51%	15.91%	2.61%
2008	15	6.21%	16.36%	13.50%	2.86%
2003	20	9.78%	13.98%	11.13%	2.85%
2002	22	11.96%	21.19%	14.79%	6.40%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 18.11, 22.17 and 23.71. The corresponding 10 year ratios are 14.85, 18.62 and 23.71. The corresponding historical ratios are 17.35, 21.74 and 24.79. The current P/E Ratio is 32.20 based on a stock price of $55.26 and EPS estimate for 2025 of $1.72. 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 also have Adjusted Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Adjusted Earnings per Share Ratios are 17.27, 19.66 and 21.95. The corresponding 10 year ratios are 15.57, 18.59 and 19.99. The corresponding historical ratios are 14.53, 17.06 and 19.68. The current P/AEPS Ratio is 28.19 based on a stock price of $55.26 and AEPS estimate for 2025 of $1.96. 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 Graham Price of $27.23. The 10-year low, median, and high median Price/Graham Price Ratios are 0.93, 1.22 And 1.35. The current P/GP Ratio is 2.03 based on a stock price of $55.26. 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 1.66. The current P/B Ratio is 3.29 based on a Book Value of $4,670M, Book Value per Share of $16.81 and a stock price of $55.26. The current ratio is 98% 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 $17.86. This implies a ratio of 3.09 based on a stock price of $55.26 and Book Value of $4,925M. This ratio is 86% 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 15.43. The current P/CF Ratio is 22.29 based on a stock price of $55.26, Cash Flow per Share estimate for 2025 of $2.48 and a Cash Flow of $689M. The current ratio is 45% 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 2.78%. The current dividend yield is 1.45% based on dividends of $0.80 and a stock price of $55.26. The current dividend yield is 48% 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 2.56%. The current dividend yield is 1.45% based on dividends of $0.80 and a stock price of $55.26. The current dividend yield is 43% below the historical median dividend yield. This stock price testing suggests that the stock price is relatively expensive.

The 10-year median Price/Sales (Revenue) Ratio is 6.98. The current P/S Ratio is 9.30 based on Revenue estimate for 2025 of $1,650M, Revenue per Share of $5.94 and a stock price of $55.26. The current ratio is 33% 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 relatively expensive. The dividend yield tests are saying that. It is confirmed by the P/S Ratio test. All the tests are saying the same thing.

When I look at analysts’ recommendations, I find Strong Buy (2), Buy (1), and Hold (5). The consensus would be a Buy. The 12 month stock price consensus is $56.62 with a high of $59.00 and low of $54.00. The consensus stock price of $56.62 implies a total return of 3.91% with 2.46% from capital gains and 1.45% from dividends.

Analysts like this stock on Stock Chase. They do rate it a buy, but the last entry says that the stock is not cheap. Amy Legate-Wolfe on Motley Fool says this is a good stock to buy for life. Brian Paradza on Motley Fool says this is one of his favourite financial stocks. The company put out a Press Release about its fourth quarter of 2024. The company put out a Press Release about its first quarter of 2025.

Simply Wall Street via Yahoo Finance reviews this stock. Simply Wall list not risks for this stock.

TMX Group Ltd is a company that operates several markets to provide investment opportunities for its clients. Company has four operating segments: Global Solutions, Insights & Analytics, Capital Formation, Derivatives Trading & Clearing, and Equities and Fixed Income Trading & Clearing. Company geographically operates in Canada, USA, UK, Germany, and Other Countries, with maximum revenue from Canada. Its web site is here TMX Group Ltd.

The last stock I wrote about was about was Suncor Energy Inc (TSX-SU, NYSE-SU) ... learn more. The next stock I will write about will be Obsidian Energy Ltd (TSX-OBE, NYSE-OBE) ... learn more on Wednesday, July 16, 2025 around 5 pm. Tomorrow on my other blog I will write about Using Home Equity.... learn more on Tuesday, July 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.

Suncor Energy Inc

Yesterday I bought 100 shares of Jamieson Wellness Inc (TSX-JWEL, OTC-JWLLF) for my TFSA Account. Note that this is my fooling around money.

Sound bite for Twitter is: Dividend Growth Resource. Results of stock price testing is that the stock price is probably reasonable. Debt Ratios are fine. The Dividend Payout Ratios (DPR) are good. The current dividend yield is moderate with dividend growth low. See my spreadsheet on Suncor Energy Inc.

Is it a good company at a reasonable price? Personally, I do not have much invested in Energy stock, around 1%. Energy stocks are cyclical and I like dividend growth stocks. Energy stocks make up around 16% of the TSX. There is a risk in buying cyclical stocks. If you look at the chart for this stock, the price is relatively high recently. Currently the stock is testing as reasonably priced.

I do not own this stock of Suncor Energy Inc (TSX-SU, NYSE-SU). I started following this stock as Petro-Canada (TSX-PCA). It was on Mike Higgs' list of dividend growth stocks. This was also a key stock for the Investment Reporter. Note that PCA and SU merged in 2009.

When I was updating my spreadsheet, I noticed that this stock is mostly cyclical, but has been doing better lately. The stock has gone up in the last two years and is up by 7% so far this year. I noticed that all the estimates for 2025 are lower than the 2024 values. For example, revenue in 2024 was $54,881M but estimate for 2025 is $48,068M and AEPS for 2024 was 5.40, but estimate for 2025 is $4.16. Same for Cash Flow and Net Income.

If you had invested in this company in December 2014, for $1,033.20 you would have bought 28 shares at $36.90 per share. In December 2024, after 10 years you would have received $420.98 in dividends. The stock would be worth $1,436.68. Your total return would have been $1,857.66. This would be a total return of 6.78% per year with 3.35% from capital gain and 3.43% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$36.90	$1,033.20	28	10	$420.98	$1,436.68	$1,857.66

The current dividend yield is moderate with dividend growth low. The current dividend yield is moderate (2% to 4% ranges) at 4.16%. The 5, 10 and historical median dividend yields are also moderate at 4.74%, 3.85% and 3.14%. The dividend increases are low (below 8%) at 5.6% per year over the past 5 years. The last dividend increase was in 2024 and it was for 4.6%.

The Dividend Payout Ratios (DPR) are good. The DPR for 2024 for Earnings per Share (EPS) is good at 47% with 5 year coverage at 48%. The DPR for 2024 for Adjusted Funds from Operations (AFFO) is good at 20% with 5 year coverage at 23%. The DPR for 2024 for Adjusted Earnings per Share (AEPS) is good at 41% with 5 year coverage at 29%. The DPR for 2024 for Cash Flow per Share (CFPS) is good at 20% with 5 year coverage at 19%. The DPR for 2024 for Free Cash Flow (FCF) is good at 38% with 5 year coverage at 37%. There is some agreement on what the FCF is.

Item	Current	5 Years
EPS	46.72%	47.57%
AFFO	20.29%	22.74%
AEPS	40.83%	29.13%
CFPS	19.82%	18.67%
FCF	38.08%	37.24%

Debt Ratios are fine. The Long Term Debt/Market Cap Ratio for 2024 is good at 0.15 and currently at 0.18. The Liquidity Ratio for 2024 is low at 1.14 and good at 1.51 currently. If you added in Cash Flow after dividends, the ratios are fine at 2.37 and currently at 2.61. The Debt Ratio for 2024 is good at 1.98 and 1.99 currently. The Leverage and Debt/Equity Ratios for 2024 are fine at 2.02 and 1.02 and currently at 2.01 and 1.01.

Type	Year End	Ratio Curr
Lg Term R	0.15	0.18
Intang/GW	0.05	0.05
Liquidity	1.14	1.51
Liq. + CF	2.37	2.61
Debt Ratio	1.98	1.99
Leverage	2.02	2.01
D/E Ratio	1.02	1.01

The Total Return per year is shown below for years of 5 to 29 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	5.59%	7.36%	3.81%	3.55%
2014	10	8.01%	6.78%	3.35%	3.43%
2009	15	14.22%	4.76%	2.17%	2.60%
2004	20	15.91%	6.89%	4.49%	2.40%
1999	25	13.91%	10.60%	7.96%	2.64%
1995	28	12.57%	14.04%	10.73%	3.31%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 5.93, 6.74 and 7.56. The corresponding 10 year median ratios are 7.65, 9.31 and 10.97. The corresponding historical median ratios 8.65, 11.61 and 14.17. The current ratio is 13.65 based on a stock price of $54.86 and EPS estimate for 2025 of $4.02. 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 also have Adjusted Earnings per Share (AEPS) Data. The 5-year low, median, and high median Price/Earnings per Share Ratios are 6.86, 8.37 and 9.38. The corresponding 10 year median ratios are 7.59, 8.97 and 10.60. The corresponding historical median ratios 9.96, 12.40 and 14.84. The current ratio is 13.89 based on a stock price of $54.86 and AEPS estimate for 2025 of $3.95. The current ratio is 13.19 based on a stock price of $54.86 and AEPS estimate for 2025 of $4.16. The current ratio is above the high ratio for the 10 year median ratios. This stock price testing suggests that the stock price is relatively expensive.

I get a Graham Price of $57.73. The 10-year low, median, and high median Price/Graham Price Ratios are 0.76, 0.91 and 1.17. The current ratio is 0.95 based on a stock price of $54.86. 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 10-year median Price/Book Value per Share Ratio of 1.36. The current ratio is 1.54 based on a Book Value of $44,308M, Book Value per Share of $35.61 and a stock price of $54.86. The current ratio is 13% 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 $32.27. This implies a ratio of 1.70 based on a stock price of $54.86 and Book Value of $40,155M. This ratio is 25% 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 6.45. The current ratio is 5.02 based on Cash Flow per Share estimate for 2025 of $10.93, Cash Flow of $13,601M and a stock price of $54.86. The current ratio is 22% 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 3.14%. The current dividend yield is 4.16% based on a stock price of $54.86 and Dividends of $2.28. The current dividend yield is 32% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively cheap.

I get an historical median dividend yield of 3.85%. The current dividend yield is 4.16% based on a stock price of $54.86 and Dividends of $2.28. The current dividend yield is 8% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively reasonable and below the median.

The 10-year median Price/Sales (Revenue) Ratio is 1.71. The current P/S Ratio is 1.42 based on Revenue estimate for 2025 of $48,068, Revenue per Share of $38.63 and a stock price of $54.86. The current ratio is 17% 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. The 10 year median dividend yield says that the stock price is probably reasonable. The P/S Ratio test says the stock price is probably reasonable and so confirms the 10 year median dividend yield test. Not that for the rest of the testing the stock price is showing as cheap to expensive.

When I look at analysts’ recommendations, I find Strong Buy (4), Buy (8), Hold (8) and Sell (1). The consensus is a Buy. The 12 month stock price consensus is $60.00 with a high of $66.00 and low of $43.00. the consensus stock price of $60.00 implies a total return of $13.53% with 9.37% from capital gains and 4.16% from dividends based on a current stock price of $54.86.

There are lots of entries for 2025 on Stock Chase. Analysts like this stock and most think it is a buy, but there is also a Hold rating. Chris MacDonald on Motley Fool is bullish on this stock. Amy Legate-Wolfe on Motley Fool compared this stock with CNQ. The company put out a press release via Energy Now about their fourth quarter results for 2024. The company put out a Press Release via Energy Now about their first quarterly results for 2025.

Simply Wall Street via Yahoo Finance writes about this stock. Simply Wall Street has two warnings out on this stock of earnings are forecast to decline by an average of 3.5% per year for the next 3 years; and unstable dividend track record.

Suncor Energy Inc is an integrated energy company. The company's operating segments include Oil Sands, Exploration & Production, Refining & Marketing (R&M), and Corporate & eliminations. Geographically, the company generates a majority of its revenue from Canada. Its web site is here Suncor Energy Inc.

The last stock I wrote about was about was Jamieson Wellness Inc (TSX-JWEL, OTC-JWLLF) ... learn more. The next stock I will write about will be TMX Group Ltd (TSX-X, OTC-TMXXF) ... learn more on Monday, July 14, 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.

Jamieson Wellness Inc

Sound bite for Twitter is: Dividend Growth Consumer. Debt Ratios are fine. Results of stock price testing is that the stock price is probably relatively cheap. The Dividend Payout Ratios (DPR) are good. The current dividend yield is moderate with dividend growth good. See my spreadsheet on Jamieson Wellness Inc.

Is it a good company at a reasonable price? I noticed that Money Sense has this stock on its latest list with a grade of D. This stock has only been on the TSX for 8 years. It is relatively small. It does have a fair bit of debt. It is relatively cheap based on dividends and DPRs are good. Most of my testing is saying that the stock price is relatively cheap.

I do not own this stock of Jamieson Wellness Inc (TSX-JWEL, OTC-JWLLF). This stock was written up in November 26, 2020 by Kay Ng on Motley Fool. She looked at what Warren Buffet was buying and pick some similar stocks, including Jamieson from TSX.

When I was updating my spreadsheet, I noticed that this company has only been on the stock exchange a short time (8 years), but has done well for shareholders in terms of stock price rising and dividend growth.

If you had invested in this company in December 2016, for $1,003.45 you would have bought 58 shares at $17.30 per share. In December 2024, after 8 years you would have received $222.72 in dividends. The stock would be worth $2,129.18. Your total return would have been $2,351.90. This would be a total return of 11.67% per year with 9.86% from capital gain and 1.81% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$17.30	$1,003.45	58	8	$222.72	$2,129.18	$2,351.90

The current dividend yield is moderate with dividend growth good. The dividend yield is moderate (2% to 4% ranges) at 2.40%. The 5, 10 and historical dividend yields are low (below 2%) at 1.80%, 1.48% and 1.48%. The dividend growth is good (15% per year or higher) at 20.11% per year over the past 5 years. The last dividend increase was in 2025 and it was for 10.53%.

The Dividend Payout Ratios (DPR) are good. The DPR for 2024 for Earnings per Share (EPS) is high at 67% with 5 year coverage at 55%. The DPR for 2024 for Adjusted Earnings per Share (AEPS) is good at 49.7% with 5 year coverage at 44%. The DPR for 2024 for Cash Flow per Share (CFPS) is good at 36% with 5 year coverage at 36%. The DPR for 2024 for Free Cash Flow (FCF) is good at 41% with 5 year coverage at 44%. There is some agreement on what FCF is.

Item	Cur	5 Years
EPS	67.23%	55.02%
AEPS	49.69%	43.92%
CFPS	36.19%	35.70%
FCF	40.52%	44.00%

Debt Ratios are fine. The Long Term Debt/Market Cap Ratio for 2024 is good at 0.25 and currently at 0.20. The Liquidity Ratio for 2024 is good at 2.70 and 2.53 currently. The Debt Ratio for 2024 is good at 1.73 and 1.83 currently. The Leverage and Debt/Equity Ratios for 2024 are fine at 2.61 and 1.51 and currently at 2.39 and 1.31.

Type	Year End	Ratio Curr
Lg Term R	0.25	0.20
Intang/GW	0.49	0.43
Liquidity	2.70	2.53
Liq. + CF	2.72	2.69
Debt Ratio	1.73	1.83
Leverage	2.61	2.39
D/E Ratio	1.51	1.31

The Total Return per year is shown below for years of 5 to 8 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	20.11%	9.46%	7.35%	2.11%
2016	8	15.33%	11.67%	9.86%	1.81%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 25.84, 29.11, 33.11. The corresponding 8 year ratios are 24.81, 28.81 and 33.03. The current P/E Ratio is 18.44 based on a stock price of $35.03 and EPS estimate for 2025 of $1.90. The current ratio is below the low ratio of the 8 year median ratios. This stock price testing suggests that the stock price is relatively cheap.

I also have Adjusted Earning per Share (AEPS) data. The 5-year low, median, and high median Price/Adjusted Earnings per Share Ratios are 20.70, 22.99 and 25.15. The corresponding 8 year ratios are 20.77, 25.08 and 29.41. The current P/AEPS is 18.44 based on a stock price of $35.03 and AEPS estimate for 2025 of 1.90. The current ratio is below the low ratio for the 8 year median ratios. This stock price testing suggests that the stock price is relatively cheap.

I get a Graham Price of $22.24. The 8-year low, median, and high median Price/Graham Price Ratios are 1.70, 1.96 and 2.28. The current P/GP Ratio is 1.58 based on a stock price of $35.03. The current ratio is below the low ratio of the 8 year median ratios. This stock price testing suggests that the stock price is relatively cheap.

I get an 8-year median Price/Book Value per Share Ratio of 3.36. The current P/B Ratio is 3.03 based on a stock price of $35.03, Book Value $485.3M and Book Value per Share of $11.57. The current ratio is 10% below the 8 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I also have a Book Value per Share estimate for 2025 of $12.68. This estimate implies a ratio of 2.76 and a Book Value of $531.9M with a stock price of $35.03. The current ratio is 18% below the 8 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I get an 8-year median Price/Cash Flow per Share Ratio of 33.16. The current P/CF Ratio is 20.49 based on a stock price of $35.03, Cash Flow per Share estimate for 2025 of $1.71 and a Cash Flow of $71.7M. The current ratio is 38% below the 8 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

I get an historical and 8 year median dividend yield of 1.48. The current dividend yield is 2.40% based on dividends of $0.84 and a stock price of $35.03. The current dividend yield is 62% above the historical and 8 year median dividend yield. This stock price testing suggests that the stock price is relatively cheap.

The 8-year median Price/Sales (Revenue) Ratio is 2.48. The current ratio is 2.48 based on Revenue estimate for 2025 of $822.3M, Revenue per Share of $19.60 and a stock price of $35.03. The current ratio is 31% below the 8 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 is probably relatively cheap. The dividend yield test says that and it is confirmed by the P/S Ratio test. Most of the rest of the testing says the same thing except for the P/AEPS and that says the stock price is reasonable and below the median.

When I look at analysts’ recommendations, I find Strong Buy (5), Buy (4), and Hold (1). The consensus is a Strong Buy. The 12 month stock price consensus is $41.79 and a high of $43.50 and a low of $40.00. The consensus stock price of $41.79 implies a total return of 21.70% with 19.30% from capital gains and 2.40% from dividends based on a current stock price of $35.03.

Analysts in 2025 on Stock Chase give this stock a Hold, Watch and Buy, with the Buy being the last entry. Daniel Da Costa on Motley Fool likes this stock for its growth potential. Amy Legate-Wolfe on Motley Foll thinks this stock is a top stock in the TSX. The company put out a Press Release about their fourth quarter of 2024. The company put out a Press Release about their first quarter of 2025.

Simply Wall Street via Yahoo Finance reviews this stock. They said that Institutions own almost 62% of this company. They have one warning of has a high level of debt.

Jamieson Wellness Inc is engaged in the manufacturing, development, distributing, and marketing of branded natural health products, including vitamins, minerals, and supplements. Some of its brands are Jamieson, Youtheory, Progressive, Precision, Smart Solutions, and Iron Vegan. Geographically, the majority of its revenue is derived from the domestic market. Its web site is here Jamieson Wellness Inc.

The last stock I wrote about was about was Premium Brands Holdings Corp (TSX-PBH, OTC-PRBZF) ... learn more. The next stock I will write about will be Suncor Energy Inc (TSX-SU, NYSE-SU) ... learn more on Friday, July 11, 2025 around 5 pm. Tomorrow on my other blog I will write about Something to Buy July 2025.... .... learn more on Thursday, July 10, 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.

Premium Brands Holdings Corp

Sound bite for Twitter is: Dividend Growth Consumer. Results of stock price testing is that the stock price is probably relatively cheap. Debt Ratios are show that the company has too much debt. Most Dividend Payout Ratios (DPR) need improving. The current dividend yield is moderate with dividend growth moderate. See my spreadsheet on Premium Brands Holdings Corp.

Is it a good company at a reasonable price? In the past this stock has done well for shareholders. It hit a high in 2021 and has fallen since. When a stock is cheap, you are always taking a risk that there are good reasons for the stock to be cheap. Although analyst seem to like to this and seem to think that it will recover. If you are willing to take a risk, you can sometimes do very well buying a good stock when it is cheap. This stock is testing as cheap at present.

I do not own this stock of Premium Brands Holdings Corp (TSX-PBH, OTC-PRBZF). 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.

When I was updating my spreadsheet, I noticed that Dividend Payout Ratios remain high. This company is finally stopping the raising of the dividends by around 10% per year. There was no dividend raise for 2025. Although analysts expect the dividend to be raised by 9% in 2026.

If you had invested in this company in December 2014, for $1,001.22 you would have bought 41 shares at $24.42 per share. In December 2024, after 10 years you would have received $907.74 in dividends. The stock would be worth $3,242.28. Your total return would have been $4,150.02. This would be a total return of 17.63% per year with 12.47% from capital gain and 5.16% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$24.42	$1,001.22	41	10	$907.74	$3,242.28	$4,150.02

The current dividend yield is moderate with dividend growth moderate. The dividend yield is moderate (2% to 4% range) at 4.09%. The 5, 10 and historical dividend yields are also moderate at 2.69%, 2.68% and 4.82%. The dividend growth has been moderate (8% to 14%) at 10% per year over the past 5 years. However, there was no dividend increase in 2025 as was usual for this company. Generally, the company increased the dividends each for the July dividend, but this did not occur in 2025. The last dividend increase was in 2024.

Most Dividend Payout Ratios (DPR) need improving. The DPR for 2024 for Earnings per Share (EPS) is far too high at 122% with 5 year coverage at 102%. The DPR for 2024 for Free Cash Flow provided by the company (FCF) is fine at 59% with 5 year coverage good at 48%. The DPR for 2024 for Adjusted Earnings per Share (AEPS) is too high at 83% with 5 year coverage at 69%. The DPR for 2024 for Cash Flow per Share (CFPS) is fine at 45% with 5 year coverage good at 39%. The DPR for 2024 for Free Cash Flow (FCF) is non-calculable because of negative FCF with 5 year coverage too high at 176%. But there is no agreement on what the FCF is.

Item	Cur	5 Years
EPS	122.06%	101.58%
FCF Co.	58.76%	48.32%
AEPS	83.42%	68.86%
CFPS	45.14%	38.89%
FCF	-370.25%	176.38%

Debt Ratios are show that the company has too much debt. The Long Term Debt/Market Cap Ratio for 2024 is fine at 0.54 and currently at 0.50. The Liquidity Ratio for 2024 is good at 1.61 and low currently 1.04 currently. If you added in Cash Flow after dividends, the ratios are fine at 1.72 and currently too low at 1.19. The Debt Ratio for 2024 is good at 1.55 and low at 1.42 currently. The Leverage and Debt/Equity Ratios for 2024 are too high at 3.28 and 2.11 and currently at 3.38 and 2.38. I prefer these ratios to be less and 3.00 and 2.00.

Type	Year End	Ratio Curr
Lg Term R	0.54	0.50
Intang/GW	0.39	0.25
Liquidity	1.61	1.04
Liq. + CF	1.72	1.19
Debt Ratio	1.55	1.42
Leverage	3.28	3.38
D/E Ratio	2.11	2.38

The Total Return per year is shown below for years of 5 to 29 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	10.12%	0.44%	-2.76%	3.20%
2014	10	10.26%	17.63%	12.47%	5.16%
2009	15	7.16%	18.43%	12.45%	5.98%
2004	20	5.61%	19.14%	11.30%	7.85%
1999	25		6.69%	4.28%	2.41%
1995	29		12.67%	9.30%	3.37%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 29.60, 38.97 and 44.91. The corresponding 10 year ratios are 28.78, 34.12 and 41.20. The corresponding historical ratios are 19.80, 22.87 and 25.71. The current ratio is 22.49 based on a stock price of $83.20 and EPS estimate for 2025 of $3.70. The current ratio is below the low ratio of the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

I have Adjusted Earnings per Share (AEPS) data also. The 5-year low, median, and high median Price/Adjusted Earnings per Share Ratios are 20.69, 24.34 and 27.99. The corresponding 10 year ratios are 19.19, 24.86 and 29.19. The corresponding historical ratios are 18.30, 21.74, 25.96. The current P/AEPS Ratio is 16.35 based on a stock price of $83.20 and AEPS estimate for 2025 of $5.09. The current ratio is below the low ratio of the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

I get a Graham Price of $66.96. The 10-year low, median, and high median Price/Graham Price Ratios are 1.34, 1.76 and 2.11. The current P/GP Ratio is 1.24 based on a stock price of $83.20. The current ratio is below the low ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively cheap.

I get a 10-year median Price/Book Value per Share Ratio of 2.82. The current P/B Ratio is 2.13 based on a Book Value of $1,746M, Book Value per Share of $39.15 and a stock price of $83.20. The current ratio is 25% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

I get a 10-year median Price/Cash Flow per Share Ratio of 17.69. The current P/CF Ratio is 9.84 based on Cash Flow per Share estimate for 2025 of $8.45, Cash Flow of $377M and a stock price of $83.20. The current ratio is 44% 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 4.82%. The current dividend yield is 4.09% based on a stock price of $83.20 and dividends of $3.40. The current dividend yield is 15% below the historical median dividend yield. This stock price testing suggests that the stock price is relatively reasonable but above the median. This company used to be an income trust and income trusts generally had very high dividends. This test is not a good one then.

I get a 10 year median dividend yield of 2.68%. The current dividend yield is 4.09% based on a stock price of $83.20 and dividends of $3.40. The current dividend yield is 52% 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 0.86. The current P/S Ratio is 0.51 based on a stock price of $83.20, Revenue estimate for 2025 of $7,318M and Revenue per Share of $164.08. The current ratio is 41% 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 is probably relatively cheap. The 10 year median dividend yield test says this. This result is confirmed by the P/S Ratio test. The rest of the testing is saying the same thing, that the stock price is relatively cheap.

When I look at analysts’ recommendations, I find Strong Buy (5), Buy (4) and Hold (3). The consensus would be a Buy. The 12 month stock price consensus is $103.92 with a high of $120.00 and low of $91.00. The consensus stock price implies a total return of 28.99% with 24.90% from capital gains and 4.09% from dividends based on a current stock price of $83.20.

Analyst on Stock Chase like this company, but only one says it is a buy in 2025. One analyst said it was down because of tariff and trade uncertainty. Demetris Afxentiou on Motley Fool especially likes the dividend yield on this stock. Jitendra Parashar on Motley Fool says buy for passive income for Retirement. The company put out a press Release on Newswire about their fourth quarter of 2024. The company put out a press Release on Newswire about their first quarter of 2025.

Simply Wall Street via Yahoo Finance put out a rather negative report about this stock and that it has fallen over the past 3 years. Simply Wall Street has 3 warnings out on this stock of interest payments are not well covered by earnings; dividend of 4.19% is not well covered by earnings or free cash flows; and significant insider selling over the past 3 months. Please note that it looks like insiders are selling when they do not pick up some or all their options. However, of the 7 officers and directors I am following, the CEO and one officer bought sales. The 3 directors I follow all bought. One officer, the CFO sold 6.4% of his shares and one officer did not buy or sell over the past year.

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. Its web site is here Premium Brands Holdings Corp.

The last stock I wrote about was about was Empire Company Ltd (TSX-EMP.A, OTC-EMLAF) ... learn more. The next stock I will write about will be Jamieson Wellness Inc (TSX-JWEL, OTC-JWLLF) ... learn more on Wednesday, July 9 around 5 pm. Tomorrow on my other blog I will write about Dividend Stocks July 2025.... .... learn more on Tuesday, July 8, 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.

Empire Company Ltd

Sound bite for Twitter is: Dividend Growth Consumer. Results of stock price testing is that the stock price is probably on the expensive side. Debt Ratios show that the company has a lot of debt. The Dividend Payout Ratios (DPR) are good. The current dividend yield is low with dividend growth moderate. See my spreadsheet on Empire Company Ltd.

Is it a good company at a reasonable price? This is the sort of company to get if you a building a portfolio. It has low dividends, but good dividend increases. It is a dividend growth stock, which are the kind I like. The dividends are rather low, but the yield has popped to 2% on occasions. I would go for it when the dividend is 2% or more. It would seem to be a bit pricey at the moment, so a Hold recommendation makes sense.

I do not own this stock of Empire Company Ltd (TSX-EMP.A, OTC-EMLAF). I have known about this stock for some time before I decided to follow it. This stock has a financial year ending in end of April or first of May each year. This company has a financial year ending around April 30 each year. I am looking at the May 3, 2025 financial year end in this report.

When I was updating my spreadsheet, I noticed you can end up with good dividends on companies with low dividends that grow dividends. See chart below. For year 5, the current dividend on the original price 5 years ago is 2.49%. 5 years ago, the dividend was 1.29%. Dividends have increased by 92% and your dividends have covered 10% of the cost of your stock.

Div Yd	Years	Start Div	Div Inc	Cost Covered
2.49%	5	1.29%	92.48%	10.38%
3.44%	10	1.23%	178.72%	23.16%
4.79%	15	1.48%	224.41%	41.66%
6.79%	20	1.29%	425.17%	68.04%
16.43%	25	1.00%	1543.31%	176.93%

If you had invested in this company in December 2014, for $1,022.35 you would have bought 35 shares at $29.21 per share. In December 2024, after 10 years you would have received $190.40 in dividends. The stock would be worth $1,495.90. Your total return would have been $1,686.30. This would be a total return of 5.41% per year with 3.88% from capital gain and 1.53% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$29.21	$1,022.35	35	10	$190.40	$1,495.90	$1,686.30

The current dividend yield is low with dividend growth moderate. The current dividend yield is low (below 2%) at 1.57%. The 5, 10 and historical median dividend yields are low at 1.73%, 1.68% and 1.45%. The dividend growth is moderate (8% to 14% ranges) at 10.8% per year over the past 5 years. The last dividend increase was in 2025 and it was for 10%.

The Dividend Payout Ratios (DPR) are good. The DPR for 2024 for Earnings per Share (EPS) is good at 27% with 5 year coverage at 23%. The DPR for 2024 for Adjusted Earnings per Share (AEPS) is good at 27% with 5 year coverage at 24%. The DPR for 2024 for Cash Flow per Share (CFPS) is good at 8% with 5 year coverage at 7%. The DPR for 2024 for Free Cash Flow (FCF) is good at 21% with 5 year coverage at 17%. There is no agreement on what the FCF should be.

Item	Cur	5 Years
EPS	27.30%	23.69%
AEPS	26.76%	23.60%
CFPS	7.95%	7.33%
FCF	20.65%	16.97%

Debt Ratios show that the company has a lot of debt. The Long Term Debt/Market Cap Ratio for 2024 is good at 0.07 and currently at 0.07. The Liquidity Ratio for 2024 is too low at 0.77 and 0.81 currently. If you added in Cash Flow after dividends, the ratios are still low at 1.24 and currently at 1.24. I prefer this ratio to be 1.50 or higher. The Debt Ratio for 2024 is low at 1.48 and 1.48 currently. The Leverage and Debt/Equity Ratios for 2024 are too high at 3.15 and 2.12 and currently at 3.15 and 2.12. I prefer these ratios to be below 3.00 and 2.00.

Type	Year End	Ratio Curr
Lg Term R	0.07	0.07
Intang/GW	0.29	0.26
Liquidity	0.77	0.81
Liq. + CF	1.24	1.24
Debt Ratio	1.48	1.48
Leverage	3.15	3.15
D/E Ratio	2.12	2.12

The Total Return per year is shown below for years of 5 to 40 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	10.76%	8.87%	7.01%	1.86%
2014	10	8.31%	5.41%	3.88%	1.53%
2009	15	8.16%	8.58%	6.81%	1.77%
2004	20	8.38%	9.23%	7.39%	1.84%
1999	25	12.04%	11.26%	9.15%	2.11%
1994	30	11.18%	12.47%	10.25%	2.23%
1989	35	10.21%	9.83%	8.27%	1.56%
1984	40	9.90%	14.54%	11.65%	2.89%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 11.60, 14.15, 16.30. The corresponding 10 year median ratios are 12.13, 14.41 and 16.85. The corresponding historical ratios are 10.90, 12.69 and 14.20. The current P/E Ratio is 17.06 based on a stock price of $56.13 and EPS estimate for 2026 of $3.29. 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 also have Adjusted Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Adjusted Earnings per Share Ratios are 11.60, 13.66 and 15.59. The corresponding 10 year median ratios are 12.55, 14.37 and 17.05. The corresponding historical ratios are 11.78, 13.60 and 15.40. The current P/AEPS Ratio is 17.01 based on a stock price of $56.13 and EPS estimate for 2026 of $3.30. 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 $41.55. The 10-year low, median, and high median Price/Graham Price Ratios are 0.95, 1.14 and 1.32. The current P/GP Ratio is 1.35 based on a stock price of $56.13. 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 1.85. The current P/B Ratio is 2.41 based on a Book Value of $5,410M, Book Value per Share of $23.26 and a stock price of $56.13. The current ratio is 31% 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 5.59. The current ratio is 6.14 based on a stock price of $56.13, Cash Flow of $2,127 and Cash Flow per Share for the last 12 months of $9.14. The current ratio is 10% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable but above the median.

I get an historical median dividend yield of 1.45%. The current dividend yield is 1.56% based on dividends of $0.88 and a stock price of $56.13. The current dividend yield is 8% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I get a 10 year median dividend yield of 1.68%. The current dividend yield is 1.56% based on dividends of $0.88 and a stock price of $56.13. The current dividend yield is 7% below the 10 year median dividend yield. This stock price testing suggests that the stock price is relatively reasonable but above the median.

The 10-year median Price/Sales (Revenue) Ratio is 0.30. The current P/S Ratio is 0.40 based on Revenue estimate for 2026 of $32,339M, Revenue per Share of $139.02 and a stock price of $56.13. The current ratio is 35% 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 on the expensive side. The 10 year median dividend yield test is saying that the stock price is reasonable but above the median. This is not confirmed by the P/S Ratio test which says the stock price is relatively expensive. A lot of the testing is saying that the stock price is either reasonable but above the median or expensive. From this I can see why the analysts’ recommendation is a Hold.

When I look at analysts’ recommendations, I find Strong Buy (2), Buy (1), Hold (4), and Sell (1). The consensus is a Hold. The 12 month stock price consensus is $58.38 with a high of $62.00 and low of $53.00. The consensus stock price of $58.38 implies a total return of 5.58% with 4.01% from capital gains and 1.57% from dividends based on a current stock price of $56.13.

An analyst in 2025 on Stock Chase rates this company as a Hold. It was a weak buy in 2024. Joey Frenette on Motley Fool compares this company and Alimentation Couche-Tard. Amy Legate-Wolfe on Motley Fool thinks this is a buy and hold forever stock. The company put out a press release via Newswire about its fourth quarter results for 2025.

Simply Wall Street via Yahoo Finance reviews this stock. Simply Wall Street has no warnings out on this stock.

Empire Co Ltd key businesses are food retailing, investments, and other operations. The food retailing division operates through Empire's subsidiaries Sobeys, National, Farm Boy, and Longo's, and represents nearly all of the company's income. Its web site is here Empire Company Ltd.

The last stock I wrote about was about was Saputo Inc (TSX-SAP, OTC-SAPIF) ... learn more. The next stock I will write about will be Premium Brands Holdings Corp (TSX-PBH, OTC-PRBZF) ... learn more on Monday, July 7, 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.

Saputo Inc

Sound bite for Twitter is: Dividend Growth Consumer. Results of stock price testing is that the stock price is probably cheap, but could just be reasonable. Debt Ratios are good. The Dividend Payout Ratios (DPR) are fine. The current dividend yield is moderate with dividend growth low. See my spreadsheet on Saputo Inc.

Is it a good company at a reasonable price? I still like this company and I plan to hold on to what I have. I have not decided whether or not to buy any more. Analysts certainly have mixed views on this stock. It is a positive to see executives buying more shares. It is certainly off the high it reached 2017. The stock is possibly cheap.

I own this stock of Saputo Inc (TSX-SAP, OTC-SAPIF). This was a stock on Mike Higgs' Canadian Dividend Growth Stock list and on the dividend lists that I followed. I bought this stock first in 2006 for my RRSP account. Because I am now taking money from my RRSP accounts, I have been selling this stock because of the low dividend. I still like this stock so I have been buying it in my TFSA.

When I was updating my spreadsheet, I noticed that all the officers I follow have bought more shares over the past year. This company has a financial year ending March 31 each year, so I am looking at the year ending March 31, 2025.

I bought this stock several times between 2006 and 2020. I have made 15.14% per year on this stock with 11.82% from capital gains and 3.06% from dividends. It pays to buy a stock over a number of years. Some of the stock I bought cost more than the current price, and, of course, some cost less. I also sold some stock when I needed to raise cash.

If you had invested in this company in December 2014, for $1,012.68 you would have bought 29 shares at $34.92 per share. In December 2024, after 10 years you would have received $194.16 in dividends. The stock would be worth $724.71. Your total return would have been $918.87. This would be a total loss of 1.12% per year with 3.32% from capital loss and 2.18% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$34.92	$1,012.68	29	10	$194.16	$724.71	$918.87

The current dividend yield is moderate with dividend growth low. The current dividend yield is moderate (2% to 4% ranges) at 2.79%. The 5 year median dividend yield is moderate at 2.35%. The 10 year and historical median dividend yields are low (below 2%) at 1.83% and 1.67%.

The Dividend Payout Ratios (DPR) are fine. The DPR for 2024 for Earnings per Share (EPS) is non-calculable due to an earning loss with 5 year coverage too high at 93%. The DPR for 2024 for Adjusted Earnings per Share (AEPS) is high at 52% with 5 year coverage good at 47%. Analysts expect the DPR for AEPS to be less than 40% in the future. The DPR for 2024 for Cash Flow per Share (CFPS) is good at 20% with 5 year coverage at 21%. The DPR for 2024 for Free Cash Flow (FCF) is good at 42% with 5 year coverage at 35%. There is no agreement on FCF, but figures are not that far off.

Item	Cur	5 Years
EPS	0.00%	93.17%
AEPS	51.71%	46.89%
CFPS	19.98%	20.57%
FCF	41.56%	34.74%

Debt Ratios are good. The Long Term Debt/Market Cap Ratio for 2024 is good at 0.22 and currently at 0.20. The Liquidity Ratio for 2024 is good at 1.52 and 1.52 currently. The Debt Ratio for 2024 is good at 2.01 and 2.01 currently. The Leverage and Debt/Equity Ratios for 2024 are good at 1.99 and 0.99 and currently at 1.99 and 0.99.

Type	Year End	Ratio Curr
Lg Term R	0.22	0.20
Intang/GW	0.35	0.32
Liquidity	1.52	1.52
Liq. + CF	1.76	1.89
Debt Ratio	2.01	2.01
Leverage	1.99	1.99
D/E Ratio	0.99	0.99

The Total Return per year is shown below for years of 5 to 28 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	2.27%	-6.99%	-9.07%	2.08%
2013	10	4.10%	-1.11%	-3.29%	2.18%
2008	15	6.65%	6.17%	3.29%	2.87%
2003	20	8.42%	8.22%	5.20%	3.02%
1998	25	13.77%	10.51%	7.28%	3.23%
1996	28	12.69%	9.18%	6.53%	2.65%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 19.45, 23.56 and 25.11. The corresponding 10 year ratios are 19.48, 23.37, 25.74. The corresponding historical ratios are 16.74, 20.63 and 21.74. The current P/E Ratio is 15.38 based on a stock price of $27.23 and EPS estimate for 2026 of $1.77. The current ratio is below the low ratio of the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

I also have Adjusted Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Adjusted Earnings per Share Ratios are 16.65, 18.70 and 20.75. The corresponding 10 year ratios are 19.37, 22.56 and 24.74. The corresponding historical ratios are 16.82, 20.85 and 23.57. The current P/AEPS Ratio is 15.30 based on a stock price of $27.23 and AEPS estimate for 2026 of $1.78. The current ratio is below the low ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively cheap.

I get a Graham Price of $25.84. The 10-year low, median, and high median Price/Graham Price Ratios are 1.41, 1.57 and 1.77. The current ratio is 1.05 based on a stock price of $27.23. The current ratio is below the low ratio of the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

I get a 10-year median Price/Book Value per Share Ratio of 2.38. The current P/B Ratio is 1.63 based on a Book Value of $6,977M, Book Value per Share of $16.68 and a stock price of $27.23. The current ratio is 31% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

I get a 10-year median Price/Cash Flow per Share Ratio of 15.48. The current ratio is 7.48 based on a stock price of $27.23, Cash Flow per Share estimate for 2026 of $3.64 and Cash Flow of $1,523M. The current ratio is 41% 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 1.67%. The current dividend yield is 2.79% based on dividends of $0.76 and a stock price of $27.23. The current dividend yield is 67% 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 1.82%. The current dividend yield is 2.79% based on dividends of $0.76 and a stock price of $27.23. The current dividend yield is 53% 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 1.06. The current P/S Ratio is 0.96 based on Revenue estimate for 2026 of $19,631M, Revenue per Share of $46.93 and a stock price of $27.23. The current ratio is 18% 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 cheap, but could just be reasonable. The dividend yield tests say that the stock price is relatively cheap. However, the P/S Ratio test just says it is reasonable. I went with cheap because all the rest of the testing is saying the stock price is relatively cheap, but the P/S Ratio test could be right and the stock price could just be reasonable.

When I look at analysts’ recommendations, I find Strong Buy (3), Buy (4), Hold (3), and Underperform (1). The consensus would be a Buy with a wide spread of opinions. The 12 month stock price consensus is $29.82 with a high of $35.00 and low of $26.00. The consensus stock price of $29.82 implies a total return of 12.30% with 9.51% from capital gains and 2.79% from dividends based on a current stock price of $27.23.

This stock is not well followed on Stock Chase. However, in 2025 there is one Buy recommendation. Amy Legate-Wolfe Motley Fool says this stock has potential to reward patient investors who act when prices slide. Chris MacDonald on Motley Fool says that this stock is trading near its lower end of its long term band. The company put out a Press Release about their fourth quarter of 2025.

Simply Wall Street via Yahoo Finance reviews this stock and looks at who owns it. Simply Wall Street has two warnings of has a high level of debt; and dividend of 2.73% is not well covered by earnings.

Saputo is a global dairy processor domiciled in Canada with operations in the United States, Europe, and other international markets like Australia and Argentina. Saputo also competes in foodservice and industrials, which houses its ingredients business. Its web site is here Saputo Inc.

The last stock I wrote about was about was Computer Modelling Group Ltd (TSX-CMG, OTC-CMDXF) ... learn more. The next stock I will write about will be Empire Company Ltd (TSX-EMP.A, OTC-EMLAF) ... learn more on Friday, July 4, 2025 around 5 pm. Tomorrow on my other blog I will write about Relationship Fraud.... learn more on Thursday, July 3, 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.

Also, on my book blog I have put a review of the book The Builder’s Stone by Melanie Phillips learn more...