Canadian Pacific Kansas City Ltd

Sound bite for Twitter is: Dividend Growth Industrial. Results of stock price testing is that the stock price is testing as still reasonable. Debt Ratios are fine but Liquidity Ratios should be improved. The Dividend Payout Ratios (DPR) are good. The current dividend yield is low with dividend growth low. See my spreadsheet on Canadian Pacific Kansas City Ltd.

Is it a good company at a reasonable price? This is a blue chip stocks and has mainly done well over the years. What I do not like about it currently is its very low dividend yield. I do not buy stocks with a dividend yield below 1% as it takes too long to get a decent yield on your original purchase price. I do not buy stock for just capital gain. I think that dividend growth stocks are a better investment. Currently this stock seems to be reasonable, but above the median.

I do not own this stock of Canadian Pacific Kansas City Ltd (TSX-CP, NYSE-CP). It is a stock I held from 1987 to 1999 so I am following it. I also held it 2006 to 2011. I decided in 2011 to have only one railway stock and chose CN as my railway stock.

When I was updating my spreadsheet, I noticed if I had kept the shares I had in this company, my total return to date would be approximately 11.12% with 9.84% from capital gains and 1.28% from dividends over a 38 year period and 3 purchases in 1987, 1988 and 2006.

They did fine last year with increases to Revenue, AEPS, Net Income, Cash Flow and Dividends. The stock price went down slightly. They increased the dividend 15% after no increases in dividends in 2022, 2023 and 2024.

If you had invested in this company in December 2015, for $1,025.03 you would have bought 26 shares at $35.35 per share. In December 2025, after 10 years you would have received $186.88 in dividends. The stock would be worth $2,930.45. Your total return would have been $3,117.33. This would be a total return of 12.18% per year with 11.08% from capital gain and 1.10% 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
$35.35	$1,025.03	29	10	$186.88	$2,930.45	$3,117.33

The current dividend yield is low with dividend growth low. The current dividend yield is low (below 2%) at 0.81% based on a stock price of $113.26 and Dividends of $5.21. The 5, 10 and historical median dividend yields are also low at 0.81%, 0.89% and 1.21%. The dividend increases are current low at 4.9% per year over the past 5 years. This is because dividends were flat between 2022 and 2024 inclusive.

The Dividend Payout Ratios (DPR) are good. The DPR for 2025 for Earnings per Share (EPS) is good at 19% with 5 year coverage at 19%. The DPR for 2025 for Adjusted Earnings per Share (AEPS) is good at 19% with 5 year coverage at 19%. The DPR for 2025 for Cash Flow per Share (CFPS) is good at 14% with 5 year coverage at 17%. The DPR for 2025 for Free Cash Flow 1 (FCF) is good at 37% with 5 year coverage at 37%. The DPR for 2025 for Free Cash Flow 1 (FCF) is good at 35% with 5 year coverage at 30%. Both WSJ and the company give out FCF values. No one else did for 2025 so far.

Item	Cur	5 Years
EPS	19.38%	18.95%
AEPS	18.96%	19.39%
CFPS	13.97%	16.50%
FCF 1	36.70%	36.70%
FCF 2	34.87%	29.41%

Debt Ratios are fine but Liquidity Ratios should be improved. The Long Term Debt/Market Cap Ratio for 2025 is good at 0.22 and currently at 0.20. The Liquidity Ratio for 2025 is too low at 0.49 and 0.49 currently. If you added in Cash Flow after dividends, the ratios are still too low at 1.25 and currently better at 1.47. The Debt Ratio for 2025 is good at 2.19 and 2.19 currently. The Leverage and Debt/Equity Ratios for 2025 are good at 1.88 and 0.86 and currently at 1.88 and 0.86.

Type	Year End	Ratio Curr
Lg Term R	0.22	0.20
Intang/GW	0.24	0.21
Liquidity	0.49	0.49
Liq. + CF	1.25	1.47
Debt Ratio	2.19	2.19
Leverage	1.88	1.88
D/E Ratio	0.86	0.86

The Total Return per year is shown below for years of 5 to 37 to the end of 2025. 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.
2020	5	4.90%	3.57%	2.73%	0.84%
2015	10	12.06%	12.18%	11.08%	1.10%
2010	15	10.08%	16.10%	14.68%	1.41%
2005	20	10.60%	13.68%	12.41%	1.28%
2000	25	10.54%	14.86%	13.36%	1.50%
1995	30	11.22%	14.65%	13.14%	1.51%
1990	35	6.64%	13.32%	11.98%	1.34%
1985	37	7.15%	12.47%	11.13%	1.34%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 22.53, 24.53, 26.52. The corresponding 10 year ratios are 18.06, 20.82 and 24.17. The corresponding historical ratios are 13.25, 16.78 and 18.04. The current ratio is 22.46 based on a stock price of $113.26 and EPS estimate for 2026 of $5.04. This ratio is between the median and high ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable but above 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 23.21, 24.98 and 26.76. The corresponding 10 year ratios are 17.87, 21.48 and 25.08. The corresponding historical ratios are 14.98, 19.59 and 23.27. The current ratio is 21.74 based on a stock price of $113.26 and AEPS estimate for 2026 of $5.21. This ratio is between the median and high ratio 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 $77.33. The 10-year low, median, and high median Price/Graham Price Ratios are 1.53, 1.66 and 1.80. The current ratio is 1.46 based on a stock price of $113.26. The current ratio is below the low ratio of the 10 year median ratios. This stock price testing suggests that the stock price is cheap.

I get a 10-year median Price/Book Value per Share Ratio of 3.64. The current ratio is 2.22 based on a Book Value of $45,787M, Book Value per Share of $51.01 and a stock price of $113.26. The current ratio is 39% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

I also have a Book Value per Share estimate for 2026 of $54.05. This implies a P/B Ratio is 2.10 with a stock price of $113.26 and Book Value of $48,515M. This ratio is 43% 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 17.34. The current ratio is 15.18 based on a stock $113.26, Cash Flow per Share estimate for 2026 of $7.46 and Cash Flow of $6,699M. The current ratio is 12% 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 1.20%. The current dividend yield is 0.81% based on dividends of $0.912 and a stock price of $113.26. The current dividend yield is 33% 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 0.89%. The current dividend yield is 0.83% based on dividends of $0.912 and a stock price of $109.82. The current dividend yield is 10% below the 10 year median dividend yield. This stock price testing suggests that the stock price is relatively reasonable but below the median.

The 10-year median Price/Sales (Revenue) Ratio is 6.35. The current P/S Ratio is 6.40 based on Revenue estimate for 2026 of $15,875M, Revenue per Share of $17.69 and a stock price of $113.26. The current ratio is 1% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable but above the median.

Results of stock price testing is that the stock price is testing as still reasonable. The 10 year dividend yield test says the stock price is still reasonable but above the median. The P/S Ratio test says the same thing. The rest of the testing varies from cheap to reasonable and above the median.

When I look at analysts’ recommendations, I find Strong Buy (17), Buy (8) and Hold (5). The consensus is a Strong Buy. The 12 month stock price consensus is $121.25 with a high of $130.00 and low of 101.00. The consensus stock price of $121.25 implies a total return of 7.86% with 7.05% from capital gains and 0.81% from dividends based on a current stock price of $113.26. A

nalysts on Stock Chase give this stock a weak buy and some are worried about CUSMA. Jitendra Parashar on Motley Fool says if you have $5,000 to buy stock, this stock is a good one to start with. Amy Legate-Wolfe on Motley Fool thinks this stock will be a long term winner. The company put out a Press Release about their fourth quarter of 2025.

Simply Wall Street via Yahoo Finance reviews this stock and thinks it might be undervalued. Simply Wall Street has one warning out of has a high level of debt.

Canadian Pacific Kansas City is a Class I railroad operating on track that spans across most of Canada and into parts of the Midwestern and Northeastern United States and he Upper Midwest down through Texas, the Gulf of Mexico, and into Mexico. Its web site is here Canadian Pacific Kansas City Ltd.

The last stock I wrote about was about was Canadian National Railway (TSX-CNR, NYSE-CNI) ... learn more. The next stock I will write about will be ARC Resources Ltd (TSX-ARX, OTC-AETUF) ... learn more on Friday, February 13, 2026 around 5 pm. Tomorrow on my other blog I will write about EQB Bank and In the Money.... learn more on Thursday, February 12, 2026 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.

Canadian National Railway

Sound bite for Twitter is: Dividend Growth Industrial. Results of stock price testing is that the stock price is testing as reasonable, but might be cheap. Debt Ratios are fine. Results of stock price testing is that the stock price is testing as still reasonable. Debt Ratios are fine. The Dividend Payout Ratios (DPR) are good. The current dividend yield is moderate with dividend growth moderate. See my spreadsheet on Canadian National Railway.

Is it a good company at a reasonable price? Both the Canadian Railway stocks seem to be good long term buys. The time to buy dividend growth stocks is when they are relatively reasonable. The new money sense dividend list gives this company a C rating. It is always best to buy stocks with several purchases over a few years and in different months. This stock could be cheap as the dividend yield tests are pointing to that.

I own this stock of Canadian National Railway (TSX-CNR, NYSE-CNI). In 2005 I was look for good companies to buy at a reasonable price. This stock met by criteria. This is a dividend growth company with a good record of dividend increases. I brought some more in 2009. In my RRSP account, I bought this stock in 2011 and sold in 2013. Reason for sale was to raise money in my RRSP account for future withdrawals. I was looking for something to sell with a low dividend yield.

When I was updating my spreadsheet, I noticed I have had this stock in my trading for just over 20 years. I have made a return of 13.18% per year with 10.53% from capital gains and 2.65% from dividends. I noticed that there has been a lot of insiders buying over the past year. Most of the officers and directors I follow have bought shares. The most recent buying is at $135.00, but over the year buying was from $130.00 to $145.00.

If you had invested in this company in December 2015, for $1,005.55 you would have bought 26 shares at $77.35 per share. In December 2025, after 10 years you would have received $323.70 in dividends. The stock would be worth $1,764.75. Your total return would have been $2,088.45. This would be a total return of 8.19% per year with 5.79% from capital gain and 2.40% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$77.35	$1,005.55	13	10	$323.70	$1,764.75	$2,088.45

The current dividend yield is moderate with dividend growth moderate. The current dividend yield is moderate (2% to 4%) at 2.79%. The 5 year median dividend yield is moderate at 2.02%. The 10 year and historical median dividend yields are low (below 2%) at 1.88% and 1.68%. The dividend growth over the past 5 years is moderate (8% to 14% ranges) at 9.1%. The last dividend increase was in 3.1%. Dividend increases have been declining over the past 5 years.

The Dividend Payout Ratios (DPR) are good. The DPR for 2025 for Earnings per Share (EPS) is good at 47% with 5 year coverage at 41%. The DPR for 2025 for Adjusted Earnings per Share (AEPS) is good at 47% with 5 year coverage at 43%. The DPR for 2025 for Cash Flow per Share (CFPS) is good at 33% with 5 year coverage at 30%. The DPR for 2025 for Free Cash Flow (FCF) is high at 66% with 5 year coverage at 57%. The FCF varies a bit from $3,336M to $3,391M. I am using the $3,336M value. Some sites no longer give a value.

Item	Cur	5 Years
EPS	46.90%	41.35%
AEPS	46.53%	43.80%
CFPS	33.08%	30.43%
FCF	66.19%	56.86%

Debt Ratios are fine. The Long Term Debt/Market Cap Ratio for 2025 is good at 0.24 and currently at 0.25. The Liquidity Ratio for 2025 is too low at 0.67 and 0.67 currently. If you added in Cash Flow after dividends, the ratios are fine at 1.99 and currently at 1.99. The Debt Ratio for 2025 is good at 1.58 and 1.58 currently. The Leverage and Debt/Equity Ratios for 2025 are fine at 1.71 and 0.71 and currently at 1.71 and 0.71.

Type	Year End	Ratio Curr
Lg Term R	0.24	0.25
Intang/GW	0.01	0.00
Liquidity	0.67	0.67
Liq. + CF	1.99	1.99
Debt Ratio	1.58	1.58
Leverage	2.71	2.71
D/E Ratio	1.71	1.71

The Total Return per year is shown below for years of 5 to 29 to the end of 2025. 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.	check
2020	5	9.07%	1.63%	-0.61%	2.23%	1.62%
2015	10	11.00%	8.19%	5.79%	2.40%	8.19%
2010	15	13.38%	12.52%	9.85%	2.67%	12.52%
2005	20	14.19%	11.49%	9.22%	2.28%	11.49%
2000	25	14.64%	15.09%	12.35%	2.74%	15.09%
1996	29	14.69%	15.07%	12.47%	2.60%	15.07%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 18.26, 20.97 and 23.26. The corresponding 10 year ratios are 16.92, 18.96 and 21.06. The corresponding historical ratios are 12.39, 14.67 and 17.53. The current ratio is 17.71 based on a stock price of $140.14 and EPS estimate for 2026 of $7.92. 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 19.80, 21.46 and 23.19. The corresponding 10 year ratios are 18.02, 20.34 and 22.54. The corresponding historical ratios are 16.25, 18.69 and 20.81. The current ratio is 17.47 based on a stock price of $140.14 and AEPS estimate for 2026 of $8.02. This ratio is below the low of the 10 year median ratios. This stock price testing suggests that the stock price is relatively cheap.

I get a Graham Price of $79.66. The 10-year low, median, and high median Price/Graham Price Ratios are 1.75, 2.04 and 2.28. The current ratio is 1.76 based on a stock price of $140.14. 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 10-year median Price/Book Value per Share Ratio of 4.43. The current P/B Ratio is 3.98 based on a Book Value of $21,568M, Book Value per Share of $35.17 and a stock price of $140.14. The current ratio is 10% below the 10 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 2026 of $34.85. This implies a ratio of 4.02 with a Book Value of $21,374M with a stock price of $140.14. This ratio is 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 13.81. The current P/CF Ratio is 12.16 based on a stock price of $140.14, Cash Flow per Share estimate for 2026 of $11.52 and Cash Flow of $7,065M. This ratio is 12% 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 1.68%. The current dividend yield is 2.61% based on a stock price of $140.14 and dividends of $3.66. The current dividend yield is 55% 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 1.88%. The current dividend yield is 2.61% based on a stock price of $140.14 and dividends of $3.66. The current dividend yield is 39% above the 10 year median dividend yield. This stock price testing suggests that the stock price is relatively cheap.

The 10-year median Price/Sales (Revenue) Ratio is 5.81. The current P/S Ratio is 4.87 based on Revenue estimate for 2026 of $17,662M, Revenue per Share of $28.80 and a stock price of $140.14. The current ratio is 16% 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 testing as reasonable, but might be cheap. The dividend yield tests say that the stock price is relatively cheap. However, the P/S Ratio testing says it is relatively reasonable. The rest of the testing is saying that the stock price is either cheap or reasonable and below the median.

When I look at analysts’ recommendations, I find Strong Buy (10), Buy (5), Hold (14) and Sell (1). The consensus would be a Buy. The 12 month stock price consensus is $152.50 with a high of $190.00 and a low of $132.00. The stock price consensus of $152.50 implies a total return of 11.43% with 8.82% from capital gains and 2.61% from dividends based on a current stock price of $140.14.

For the analysts’ comments on Stock Chase there are 2 Buys and one Do Not Buy. The Do not Buy says it is a great business but always expensive. Amy Legate-Wolfe on Motley Fool says that Blue Chip stocks look boring until the day the market stops playing nice. Andrew Walker on Motley Fool asks that since the stock is down 10% is it oversold? He ends saying that much of the downside risk is likely already reflected in CN’s share price. The company put out a Press Release about it fourth quarter of 2025 results.

Simply Wall Street via Yahoo Finance reviews this stocks and looks at risks and rewards. Simply Wall Street has one warning of has a high level of debt

Canadian National's railway spans Canada from coast to coast and extends through Chicago to the Gulf of Mexico. Its web site is here Canadian National Railway.

The last stock I wrote about was about was AGF Management Ltd (TSX-AGF.B, OTC-AGFMF) ... learn more. The next stock I will write about will be Canadian Pacific Kansas City Ltd (TSX-CP, NYSE-CP) ... learn more on Wednesday, February 11, 2026 around 5 pm. Tomorrow on my other blog I will write about Money Sense Dividend Stocks.... learn more on Tuesday, February 10, 2026 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.

AGF Management Ltd

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

Is it a good company at a reasonable price? This stock seems to be doing well at this point. However, I would have no interest in purchasing this stock again. The current ratios seem quite low. For example, the 10 year high P/E Ratio is 8.66. Generally, P/E Ratios below 10 is considered cheap and expensive above 20. But currently my testing is implying that the stock price is relatively expensive.

I do not own this stock of AGF Management Ltd (TSX-AGF.B, OTC-AGFMF) but I used to. I bought this stock several times starting in 2001. If I had kept it over that 24 year period to the end of 2025, I would have lost 1.96% per year or have a total loss of my purchase of 38%. I got out of this stock in 2008 and had a total return of 2.08% per year because of dividends.

When I was updating my spreadsheet, I noticed that the people who bought and held this stock for the last 15, 20 or 25 years did not make a very good return. The Total Return for the last 15, 20 and 25 years is 2.06%, 1.89% and 1.27%. You can see from the Total Return paragraph below that people who held this stock between 15 and 25 years, earned very little and what they did earn was in dividends. For other periods, you got a good return.

If you had invested in this company in December 2015, for $1,003.60 you would have bought 193 shares at $5.20 per share. In December 2025, after 10 years you would have received $715.07 in dividends. The stock would be worth $3,142.04. Your total return would have been $3,857.11. This would be a total return of 16.47% per year with 12.09% from capital gain and 4.38% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$5.20	$1,003.60	193	10	$715.07	$3,142.04	$3,857.11

The current dividend yield is moderate with dividend growth currently moderate. The current dividend yield is moderate (2% to 4% ranges) at 2.75%. The 5 year and historical median dividend yields are moderate at 4.92% an4.71%. The 10 year median dividend yield is good (5% to 6% ranges) at 5.14%. The dividend growth the for last 5 years is moderate (8% to 14% ranges) at 8.9% per year. The last dividend increase was in 2025 and it was for 8.7%. Dividend increases have been inconsistent and dividends are down for the people who bought this stock between 10 and 20 years ago. See Total Return paragraph below.

The Dividend Payout Ratios (DPR) are good. The DPR for 2025 for Earnings per Share (EPS) is good at 26% with 5 year coverage at 34%. The DPR for 2025 for Adjusted Earnings per Share (AEPS) is good at 25% with 5 year coverage at 32%. The DPR for 2025 for Cash Flow per Share (CFPS) is good at 29% with 5 year coverage high at 38%. The DPR for 2025 for Free Cash Flow MS (FCF) is good at 29% with 5 year coverage at 38%. The DPR for 2025 for Free Cash Flow Company (FCF) is good at 27% with 5 year coverage at 31%. There are several sources for FCF and they are all similar.

Item	Cur	5 Years
EPS	25.65%	34.06%
AEPS	25.39%	32.19%
CFPS	20.78%	25.09%
FCF MS	29.16%	38.45%
FCF Comp	26.54%	31.36%

Debt Ratios are fine. The Long Term Debt/Market Cap Ratio for 2025 is good at 0.07 and currently at 0.06. The Liquidity Ratio for 2025 is low at 1.00 and 1.00 currently. If you added in Cash Flow after dividends, the ratios are fine at 1.64 and currently at 1.63. The Debt Ratio for 2025 is good at 3.42 and 3.42 currently. The Leverage and Debt/Equity Ratios for 2025 are good at 1.44 and 0.41 and currently at 1.41 and 0.41.

Type	Year End	Ratio Curr
Lg Term R	0.07	0.06
Intang/GW	1.15	0.90
Liquidity	1.00	1.00
Liq. + CF	1.64	1.63
Debt Ratio	3.42	3.42
Leverage	1.44	1.41
D/E Ratio	0.41	0.41

The Total Return per year is shown below for years of 5 to 34 to the end of 2025. 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.
2020	5	8.90%	26.50%	21.77%	4.73%
2015	10	-0.40%	16.47%	12.09%	4.38%
2010	15	-4.83%	2.06%	-1.20%	3.26%
2005	20	-0.67%	1.89%	-1.56%	3.45%
2000	25	4.09%	1.27%	-1.62%	2.89%
1995	30	4.66%	12.72%	5.56%	7.16%
1990	34	6.18%	16.31%	7.66%	8.65%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 5.04, 7.41, and 6.39. The corresponding 10 year ratios are 5.61, 7.24 and 8.86. The corresponding historical ratios are 9.04, 12.79 and 15.65. The current ratio is 9.23 based on a stock price of $18.15 and EPS estimate for 2026 of $1.97. 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. The P/E Ratios are quite low where generally a ratio of 10 or lower is consider low.

I also have Adjusted Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Earnings per Share Ratios are 4.89, 6.14, 7.60. The corresponding 10 year ratios are 5.92, 8.09 and 9.34. The corresponding historical ratios are 7.65, 11.32 and 14.21. The current ratio is 8.64 based on a stock price of $18.15 and AEPS estimate for 2026 of $2.10. This ratio is between the median and the high ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable but above the median. The P/AEPS Ratios are quite low where generally a ratio of 10 or lower is consider low.

I get a Graham Price of $30.13. The 10-year low, median, and high median Price/Graham Price Ratios are 0.32, 0.39 and 0.49. The current ratio is 0.60 based on a stock price of $18.15. 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. These ratios are quite low. Generally good ratios are between 0.85 and 1.20.

I get a 10-year median Price/Book Value per Share Ratio of 0.47. The current ratio is 0.94 based on a Book Value of $1,235M, Book Value per Share of $19.22 and a stock price of $18.15. The current ratio is 100% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive. The P/E Ratios are quite low where generally a ratio of 1.50 is considered a good normal ratio.

I also have a Book Value per Share estimate for 2026 of $20.19. This implies a ratio of 0.90 based on a stock price of $18.15 and Book Value of $1,298M. This ratio is 91% 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 6.82. The current P/CF Ratio is 10.16 based on Cash Flow for the last 12 months of $114.9M, Cash per Share of $1.79 and a stock price of $18.15. The current ratio is 49% 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 4.71%. The current dividend yield is 2.75% based on a stock price of $18.15 and Dividends of $0.50. The current ratio is 42% 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 5.14%. The current dividend yield is 2.75% based on a stock price of $18.15 and Dividends of $0.50. The current ratio is 42% 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 1.07. The current ratio is 1.85 based on Revenue estimate for 2026 of $631.7M, Revenue per Share of $9.83 and a stock price of $18.15. The current ratio is 72% 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 dividend yield tests say this and it is confirmed by the P/S Ratio test. All the other tests, but the P/B Ratio test says that the stock is expensive. The P/B Ratio test says it is reasonable but above the median. The ratios on this stock is generally quite low.

When I look at analysts’ recommendations, I find Strong Buy (2), Buy (2) and Hold (3). The consensus is a Buy. The 12 month stock price consensus is $19.54 with a high of $22.00 and a low of $16.50. The consensus stock price of $19.54 implies a total return of 10.41% with 7.66% from capital gains and 2.75% from dividends based on a current stock price of $18.15.

In 2025 the only recommendation on Stock Chase is Do Not Buy. Says company is a shadow of itself. In 2024 the only recommendation was Sell. Says dividend rising too fast and earnings not quality. Jitendra Parashar on Motley Fool says the company is showing strong growth momentum. Amy Legate-Wolfe on Motley Fool in 2025 said that this was a dividend stock to consider. The company put out a Press Release about their 2025annual results.

Simply Wall Street via Yahoo Finance reviews this stock and says that the fair value has edged up from $16.29 to $16.54. Simply Wall Street has one warning on this stock of earnings are forecast to decline by an average of 8.5% per year for the next 3 years.

AGF Management is a Canadian-based independent asset manager. AGF Management's funds are weighted toward equities with roughly three-quarters of the firm's retail AUM tied to equities. Its web site is here AGF Management Ltd.

The last stock I wrote about was about was EQB Inc (TSX-EQB, OTC-EQGPF) ... learn more. The next stock I will write about will be Canadian National Railway (TSX-CNR, NYSE-CNI) ... learn more on Monday, February 9 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.

EQB Inc

Sound bite for Twitter is: Dividend Growth Financial. Results of stock price testing is that the stock price could still be reasonable. Debt Ratios are fine. The Dividend Payout Ratios (DPR) are good. The current dividend yield is moderate with dividend growth good. See my spreadsheet on EQB Inc.

Is it a good company at a reasonable price? This bank has a good history of growth until this year. Analysts think growth will pick up again either this year or next year. My favourite stock tests of dividend yields and P/S Ratio says that the stock price is reasonable. However, all the other tests say it is expensive. The analysts that give this stock a Hold rating are probably right.

I do not own this stock of EQB Inc (TSX-EQB, OTC-EQGPF). I had read a glowing report on investing on this company in 2013, so I decided to check it out. It was interesting as it was loaning money to new immigrants, a class of people who generally have a difficult time getting loans and mortgages from our regular banks. It sounded intriguing.

When I was updating my spreadsheet, I noticed that they did not have a good year in 2025. Revenue went down and it has seldom done that. Adjusted Earnings per Share (AEPS) and EPS also went down. Generally speaking, the bank has had great growth in the past. Compare the growth to the end of October 2025 and to the end of October 2026. You can see the growth in AEPS and Net Income is down.

In the chart below, I am showing 5 and 10 year total growth and per year growth in columns 3 and 4 to the end of October 2025.

Yr	Item	Tot. Gwth	Per Year
5	Revenue Growth	127.06%	17.82%
5	AEPS Growth	79.35%	12.39%
5	Net Income Growth	93.19%	14.08%
5	Cash Flow Growth	-190.43%	N/C
5	Dividend Growth	185.25%	23.32%
5	Stock Price Growth	81.02%	12.60%
10	Revenue Growth	413.63%	17.78%
10	AEPS Growth	236.76%	12.91%
10	Net Income Growth	265.30%	13.83%
10	Cash Flow Growth	-387.66%	N/C
10	Dividend Growth	427.27%	18.09%
10	Stock Price Growth	201.42%	11.66%

In the chart below, I am showing 5 and 10 year total growth and per year growth in columns 3 and 4 to the end of October 2026.

Yr	Item	Tot. Gwth	Per Year
5	Revenue Growth	119.88%	17.07%
5	AEPS Growth	37.56%	6.59%
5	Net Income Growth	16.94%	3.18%
5	Cash Flow Growth	14.38%	2.72%
5	Dividend Growth	181.08%	22.96%
5	Stock Price Growth	105.72%	15.52%
10	Revenue Growth	351.51%	16.27%
10	AEPS Growth	129.98%	8.68%
10	Net Income Growth	103.77%	7.38%
10	Cash Flow Growth	52.50%	4.31%
10	Dividend Growth	462.16%	18.85%
10	Stock Price Growth	303.46%	14.97%

If you had invested in this company in December 2015, for $1,004.25 you would have bought 39 shares at $25.74 per share. In December 2025, after 10 years you would have received $374.99 in dividends. The stock would be worth $4,051.71. Your total return would have been $4,426.70. This would be a total return of 16.71% per year with 14.97% from capital gain and 1.74% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$25.75	$1,004.25	39	10	$374.99	$4,051.71	$4,426.70

The current dividend yield is moderate with dividend growth good. The current dividend yield is moderate (2% to 4% ranges) at 2.06%. The 5, 10 and historical dividend yields are low (below 2%) at 1.82%, 1.70% and 1.63%. The dividend growth is good (above 15% per year) at 23% per year over the past 5 years. The last dividend increase was in 2025 and it was for 3.64%. This bank rises the dividend at least several times in a year. The Dividends grow by 19.5% between 2024 and 2025.

The Dividend Payout Ratios (DPR) are good. The DPR for 2025 for Earnings per Share (EPS) is good at 31% with 5 year coverage at 17%. The DPR for 2025 for Adjusted Earnings per Share (AEPS) is good at 23% with 5 year coverage at 16%. The DPR for 2025 for Cash Flow per Share (CFPS) is good at 14% with 5 year coverage at 10%. The DPR for 2025 for Free Cash Flow (FCF) is good at 15% with 5 year coverage at 12%. I only have FCF from this bank and the value for 2025 is $555.31M.

Item	Cur	5 Years
EPS	31.28%	17.20%
AEPS	23.37%	15.51%
CFPS	14.43%	10.08%
FCF	14.77%	11.73%

Debt Ratios are fine. The Long Term Debt/Market Cap Ratio for 2025 is relatively high at 12.24 and currently at 11.60, but not high for a bank. However, we need also to look at the Long Term Debt/Covering Assets Ratio for 2025 which is good at 0.91 and currently at 0.90 because this is a more important ratio for a bank. The Liquidity Ratio for 2025 is good at 3.74 and 2.65 currently. The Debt Ratio for 2025 is fine for a bank at 1.06 and 1.06 currently. The Leverage Ratios for 2025 are fine at 5.3% and currently at 5.3%.

Type	Year End	Ratio Curr
Lg Term A	0.91	0.90
Lg Term R	12.24	11.60
Intang/GW	0.06	0.03
Liquidity	3.74	2.65
Liq. + CF	4.28	4.28
Debt Ratio	1.06	1.06
Bk Leverage	5.3%	5.3%

The Total Return per year is shown below for years of 5 to 22 to the end of 2025. 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.
2020	5	22.96%	17.58%	15.52%	2.06%
2015	10	18.85%	16.76%	14.97%	1.79%
2010	15	16.90%	16.95%	15.17%	1.78%
2005	20	13.86%	12.62%	11.26%	1.36%
2003	22	10.83%	11.71%	10.48%	1.23%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 6.11, 8.59 and 10.72. The corresponding 10 year ratios are 5.43, 6.97 and 9.32. The corresponding historical ratios are 5.69, 7.05 and 9.32. The current ratio is 14.46 based on a stock price of $110.48 and EPS estimate for 2026 of 7.64. 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/Earnings per Share Ratios are 6.17,8.07 and 9.97. The corresponding 10 year ratios are 5.09, 6.90 and 8.98. The corresponding historical ratios are 5.23, 47.06 and 8.67. The current ratio is 11.73 based on a stock price of $110.48 and AEPS estimate for 2026 of $9.42. 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.

I get a Graham Price of $131.45. The 10-year low, median, and high median Price/Graham Price Ratios are 0.40, 0.54 and 0.70. The current P/GP Ratio is 0.84 based on a stock price of $110.48. 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 0.99. The current ratio is 1.36 based on a Book Value of $3,064M, Book Value per Share of $81.52 and a stock price of $110.48. The current ratio is 37% 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 2026 of $85.82. This implies a ratio of 1.29 based on a stock price of $110.48 and Book Value of $85.82. This ratio is 30% 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 3.72. The current ratio is 11.16 based on Cash Flow for the last 12 months of $371.9M, Cash Flow per Share of $9.90 and a stock price of $110.48. The current ratio is 200% 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 1.65%. The current dividend yield is 2.06 based on dividends of $2.28 and a stock price of $110.84. The current dividend yield is 25% 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 1.77%. The current dividend yield is 2.06 based on dividends of $2.28 and a stock price of $110.84. The current dividend yield is 17% 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 3.19. The current ratio is 3.31 based on Revenue estimate for 2026 of $1,256M, Revenue per Share of $33.43 and a stock price of $110.48. The current ratio is 4% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable but above the median.

Results of stock price testing is that the stock price could still be reasonable. The dividend yield tests say it is reasonable and below the median. The P/S Ratio test says it is reasonable but above the median (but by only 4%). However, all the other tests are saying the stock price is expensive. Caution is advised.

When I look at analysts’ recommendations, I find Strong Buy (2), Buy (2), Hold (5) and Underperform (1). The consensus would be a Buy. The consensus would be a Buy. The 12 month stock price consensus is $107.22 with a high of $130.00 and a low of $91.00. The consensus stock price of $107.22 implies a total loss of 0.89% with a capital loss of 2.95% and dividends of 2.06% based on a current stock price of $110.48.

The last 5 analysts’ comments on Stock Chase are Do Not Buy, Sell, and Hold. Thoughts are high valuation and Provision for Credit Losses (PDL) higher than expected. Amy Legate-Wolfe on Motley Fool reviews this stock. She is worried about credit losses if Canada’s economy weakens. She thinks it is a positive if the bank partners with Loblaws for PC Financial. Andrew Button on Motley Fool thinks EQB is a dividend stock worth looking into. The company put out a Press Release about their fourth quarter results for 2025.

Simply Wall Street via Yahoo Finance reviews this stock and talks about those who invested 5 years ago are up 117%. Simply Wall Street has one risk of profit margins (22.8%) are lower than last year (33.9%).

EQB Inc operates through its wholly owned subsidiary, Equitable Bank, Canada's Challenger BankTM. It serves Canadians through two business lines, Personal Banking and Business Banking. Its web site is here EQB Inc.

The last stock I wrote about was about was Richelieu Hardware Ltd (TSX-RCH, OTC-RHUHF) ... learn more. The next stock I will write about will be AGF Management Ltd (TSX-AGF.B, OTC-AGFMF) ... learn more on Friday, February 6, 2026 around 5 pm. Tomorrow on my other blog I will write about Something to Buy February 2026.... learn more on Thursday, February 5, 2026 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.

Richelieu Hardware Ltd

Sound bite for Twitter is: Dividend Growth Consumer. Results of stock price testing is that the stock price is probably cheap. Debt Ratios are very good. The Dividend Payout Ratios (DPR) are good. The current dividend yield is low with dividend growth good. See my spreadsheet on Richelieu Hardware Ltd.

Is it a good company at a reasonable price? I note that there are few analysts following this stock and the 2 analysts following it, they both give it a Hold rating. Simply Wall Street says it is overpriced. If you like this stock, maybe now is a good time to buy. On the other had the ratios are rather high. For example, the P/B Ratio is 1.47 where a good ratio is considered to be 1.50. It is always best to buy a stock a number of times over a few years and in different months. My testing is saying that it is relatively cheap.

I own this stock of Richelieu Hardware Ltd (TSX-RCH, OTC-RHUHF). I initially bought this stock in 2007 because it was recommended by the Investment Reporter. It is not on any of the dividend lists, probably because they only started to pay dividends in 2000, they are a rather small company and they did not increase dividends in 2009. This stock would be considered to be a dividend paying growth stock. In 2009, I thought I would add to what I had in this stock. This stock has been much recommended by MPL Communications.

This stock started to appear on the Money Sense 100 Best Dividend list for 2020. It has made the list every year after that. For 2026 it has a rating of B.

When I was updating my spreadsheet, I noticed I have had this stock for almost 17 years and to the end of December 2025 I have earnings a total return of 13.41% per year with 11.54% from capital gains and 1.87% from dividends. The dividend yield might be low but they have had good dividend increases. On my original purchase price, I am getting a dividend yield of 10.9%. Dividend yields on this stock is generally low and below 2%.

During the past year, all the officers I am following, including the CEO and CFO bought more shares in the company. They bought the stock at $37.00 and $38.00. None of the directors I follow bought more shares. But it is quite typical that directors generally do not buy shares.

If you had invested in this company in December 2015, for $1,017.90 you would have bought 45 shares at $22.62 per share. In December 2025, after 10 years you would have received $171.59 in dividends. The stock would be worth $1,780.20. Your total return would have been $1,951.79. This would be a total return of 6.98% per year with 5.75% from capital gain and 1.23% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$22.62	$1,017.90	45	10	$171.59	$1,780.20	$1,951.79

The current dividend yield is low with dividend growth good. The current dividend yield is low (below 2%) at 1.46%. The 5, 10 and historical dividend yields are low at 1.42%, 0.99% and 1.15%. The dividend growth is good (15% per year or higher) at 25.1% per year over the past 5 years. There have been some big increases in the past 5 years, but the last increase was in 2025 and it was for 2.2%. Also, note that 5 years ago, the company only paid 3 dividends, so increases may not be as good as they appear. The dividend increases for the past 10 years is at 12% per year, which is at a moderate rate (8% to 14% per year).

The Dividend Payout Ratios (DPR) are good. The DPR for 2025 for Earnings per Share (EPS) is good at 40% with 5 year coverage at 25%. The DPR for 2025 for Cash Flow per Share (CFPS) is good at 19% with 5 year coverage at 16%. The DPR for 2025 for Free Cash Flow (FCF) is good at 34% with 5 year coverage at 40%. There are two values for FCF of $187.20 and $100.67 and I am using the $100.67.

Item	Cur	5 Years
EPS	39.56%	25.38%
CFPS	18.66%	15.78%
FCF	33.66%	39.99%

Debt Ratios are very good. The Long Term Debt/Market Cap Ratio for 2025 is good at 0.00 and currently at 0.00. The long term debt is so low it does not register. The Liquidity Ratio for 2025 is good at 3.29 and 3.29 currently. The Debt Ratio for 2025 is good at 3.01 and 3.01 currently. The Leverage and Debt/Equity Ratios for 2025 are good at 1.50 and 0.50 and currently at 1.50 and 0.50.

Type	Year End	Ratio Curr
Lg Term R	0.00	0.00
Intang/GW	0.10	0.10
Liquidity	3.29	3.29
Liq. + CF	3.91	3.91
Debt Ratio	3.01	3.01
Leverage	1.50	1.50
D/E Ratio	0.50	0.50

The Total Return per year is shown below for years of 5 to 32 to the end of 2025. 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.
2020	5	25.10%	5.16%	3.67%	1.50%
2015	10	11.86%	6.98%	5.75%	1.23%
2010	15	11.49%	10.91%	9.47%	1.45%
2005	20	11.73%	9.66%	8.39%	1.27%
2000	25	13.03%	13.78%	12.07%	1.72%
1995	30		16.02%	14.23%	1.79%
1993	32		14.83%	13.34%	1.49%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 17.88,20.48 and 23.08. The corresponding 10 year ratios are 18.66, 21.60 and 26.19. The corresponding historical ratios are 13.06, 15.82 and 18.34. The current ratio is 23.01 based on a stock price of $40.72 and EPS estimate for 2026 of $1.77. 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 $25.62. The 10-year low, median, and high median Price/Graham Price Ratios are 1.33, 1.61 and 1.91. The current ratio is 1.59 based on a stock price of $40.72. This 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 10-year median Price/Book Value per Share Ratio of 2.97. The current ratio is 2.47 based on a Book Value of $904.9M, Book Value per Share of $16.48 and a stock price of $40.72. 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.

I also have Book Value per Share estimate for 2026 of $18.39. This implies a ratio of 2.21 with a stock price of $40.72 and a Book Value of $1009.8M. This ratio is 26% 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 16.05. The current ratio is 11.05 based on Cash Flow for the last 12 months of $202.4M, Cash Flow per Share of $3.69 and a stock price of $40.72. 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 an historical median dividend yield of 1.15%. The current dividend yield is 1.54% based on dividends of $0.6264 and a stock price of $40.72. The current dividend yield is 34% 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 0.99%. The current dividend yield is 1.54% based on dividends of $0.6264 and a stock price of $40.72. The current dividend yield is 55% 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 1.40. The current P/S Ratio is 1.07 based on Revenue estimate for 2026 of $2,084M, Revenue per Share of $37.95 and a stock price of $40.72. The current ratio is 23% 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 cheap. The dividend yield tests say that the stock price is relatively cheap. It is confirmed by the P/S Ratio test. The other tests run from cheap to reasonable. However, the ratios are on the high side. The 10 year median P/GP Ratios are between 1.33 and 1.91, but good ratios are expected to be from around 0.85 to 1.20. The 10 year median P/B Ratio is 2.97 where a good ratio is considered to be around 1.50.

When I look at analysts’ recommendations, I find only Hold (2). The consensus would be a Hold. The 12 month stock price consensus is $40.50 with a high of $41.00 and a low of $40.00. The consensus stock price of $40.50 implies a total return of 1% with a 0.54% capital loss and dividends of 1.54% based on a current stock price of $40.72.

In 2024 on Stock Chase same liked this stock and some did not. There is only one entry in 2025 and it is a Partial Buy by analysts who thinks there was a good entry point at $42.11. Amy Legate-Wolfe on Motley Fool says Richelieu Hardware is an quietly exceptional Canadian stock that rarely makes headlines but consistently delivers the kind of performance long-term investors love. Jitendra Parashar on Motley Fool says on October 10, 2025 that shares of Richelieu Hardware (TSX:RCH) jumped 4.5% to $34.28 apiece after it reported solid quarterly earnings and strong acquisition-driven growth. The company put out a press release via Newswire about their fourth quarter results for 2025.

Simply Wall Street via Yahoo Finance reviews this stock and thinks it is overvalued at $41.96.

Richelieu Hardware Ltd is a Canada-based company that imports, manufactures, and distributes specialty hardware and complementary products. Headquartered in Montreal, the company operates across Canada and the eastern and midwestern regions of the United States. The majority of the company's sales are derived from its operations in Canada. Its web site is here Richelieu Hardware Ltd.

The last stock I wrote about was about was Cogeco Communications Inc (TSX-CCA, OTC-CGEAF) ... learn more. The next stock I will write about will be EQB Inc (TSX-EQB, OTC-EQGPF) ... learn more on Wednesday, February 4, 2026 around 5 pm. Tomorrow on my other blog I will write about Dividend Stocks February 2026 … learn more on Tuesday, February 3, 2026 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.

Cogeco Communications Inc

Sound bite for Twitter is: Dividend Growth Telcom. Results of stock price testing is that the stock price is probably cheap. Debt Ratios are need improving and debt is too high. The Dividend Payout Ratios (DPR) are good. The current dividend yield is good with dividend growth moderate. See my spreadsheet on Cogeco Communications Inc.

Is it a good company at a reasonable price? Personally, I would be worried about the debt of this company. Also, I would like to see the DPR go down. It reached its highest level in 2025, but analysts expect it to start going down in 2026. If you like to own this stock, it is, of course, best to buy when it is cheap. Currently this stock is cheap.

I do not own this stock of Cogeco Communications Inc (TSX-CCA, OTC-CGEAF). This stock was on the Money Sense list when I was looking for a new stock to follow.

When I was updating my spreadsheet, I noticed that the stock is quite volatile. It hit high of around $122.00 in July of 2021 and the stock is down 40% from there. Last year it had a low of around $51.00 and a high around $74.00, an 45% difference. This year there is a low around $60.00 and a high around $73.00 for an 22% change.

If you had invested in this company in December 2015, for $1,050.09 you would have bought 17 shares at $61.77 per share. In December 2025, after 10 years you would have received $428.20 in dividends. The stock would be worth $1,129.99. Your total return would have been $1,558.19. This would be a total return of 4.55% per year with 0.74% from capital gain and 3.82% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$61.77	$1,050.09	17	10	$428.20	$1,129.99	$1,558.19

The current dividend yield is good with dividend growth moderate. The current dividend yield is good (5% to 6% ranges) at 5.99%. The 5 and 10 year median dividend yields are moderate (2% to 4% ranges) at 4.35% and 2.45%. The historical dividend yield is low (below 2%) at 1.86%. I have 28 years of dividend data. The dividends were low until 2011. They were then moderate until 2023. It is only from 2024 the dividend yields go in the good range. The dividend increases are moderate (8% to 14% ranges) at 9.7% per year over the past 5 years. The last dividend increase occurred in 2025 and it was for 7.1%. This is a low increase (below 8%).

The Dividend Payout Ratios (DPR) are good. The DPR for 2025 for Earnings per Share (EPS) is good at 48% with 5 year coverage at 37%. The DPR for 2025 for Adjusted Earnings per Share (AEPS) is good at 46% with 5 year coverage at 35%. The DPR for 2025 for Cash Flow per Share (CFPS) is good at 11% with 5 year coverage at 10%. The DPR for 2025 for Free Cash Flow (FCF) is good at 29% with 5 year coverage at 30%. The company put out a FCF value for 2025 of $517.2M and Market Screener estimates agrees with this.

Item	Cur	5 Years
EPS	48.53%	37.41%
AEPS	46.45%	34.88%
CFPS	11.08%	10.19%
FCF	29.92%	29.69%

Debt Ratios need improving and debt is too high. The Long Term Debt/Market Cap Ratio for 2025 is far too high at 1.61 and currently at 1.57. The Liquidity Ratio for 2025 is too low at 0.65 and 0.40 currently. If you added in Cash Flow after dividends, the ratios are fine at 1.78 and currently at 1.73. The Debt Ratio for 2025 is good at 1.68 and 1.68 currently. The Leverage and Debt/Equity Ratios for 2025 are too high at 3.07 and fine at 1.90 and currently at 3.04 and 1.87.

Type	Year End	Ratio Curr
Lg Term R	1.61	1.57
Intang/GW	2.13	2.16
Liquidity	0.65	0.40
Liq. + CF	1.78	1.73
Debt Ratio	1.61	1.62
Leverage	3.07	3.04
D/E Ratio	1.90	1.87

The Total Return per year is shown below for years of 5 to 32 to the end of 2025. 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.
2020	5	9.71%	-3.85%	-7.58%	3.80%
2015	10	10.17%	4.55%	0.74%	3.74%
2010	15	13.39%	6.83%	3.27%	3.52%
2005	20	21.50%	8.25%	5.12%	2.87%
2000	25	11.55%	4.76%	2.69%	1.99%
1995	30	10.25%	9.63%	6.99%	2.74%
1993	32		7.86%	5.71%	2.22%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 7.90, 8.86 and 9.82. The corresponding 10 year ratios are 8.47, 10.54 and 12.83. The corresponding historical ratios are 9.17, 11.32 and 13.56. The current ratio is 7.58 based on a stock price of $65.90 and an EPS estimate for 2026 of $8.69. 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 also have Adjusted Earning per Share (AEPS) data. The 5-year low, median, and high median Price/Earnings per Share Ratios are 7.57, 8.48 and 9.40. The corresponding 10 year ratios are 8.54, 10.47 and 12.41. The corresponding historical ratios are 9.87, 12.39 and 14.02. The current ratio is 7.57 based on a stock price of $65.90 and an EPS estimate for 2026 of $8.70. 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 $122.64. The 10-year low, median, and high median Price/Graham Price Ratios are 0.77, 0.99 and 1.17. The current ratio is 0.54 based on a stock price of $65.90. 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 1.94. The current ratio is 0.86 based on a stock price of $65.90, Book Value of $3,226M, and Book Value per Share of $76.84. The current ratio is 56% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

I also have a Book Value per Share estimate for 2026 of $93.16. This implies a ratio of 0.71 with a book value of $3,911.6M and a stock price of $65.90. This ratio is 64% 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 4.16. The current ratio is 2.56 based on Cash Flow estimate for 2026 of $25.73, Cash Flow of $1,080.3M and a stock price of $65.90. The current ratio is 38% 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 1.86%. The current dividend yield is 5.99% based on dividends of $3.948 and a stock price of $65.90. The current dividend yield is 222% 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 2.45%. The current dividend yield is 5.99% based on dividends of $3.948 and a stock price of $65.90. The current dividend yield is 144% above the 10 year median dividend yield. This stock price testing suggests that the stock price is relatively cheap.

The 10-year median Price/Sales (Revenue) Ratio is 1.60. The current ratio is 0.98 based on a stock price of $65.90, Revenue estimate for 2026 of $2,822M, and Revenue per Share of $67.21. The current ratio is 39% 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 cheap. The dividend yield tests say that the stock price is relatively cheap. This is confirmed by the P/S Ratio test. All the rest of the tests say that the stock price is relatively cheap.

When I look at analysts’ recommendations, I find Strong Buy (3), Buy (1), Hold (6) and Underperform (1). The consensus would be a Buy. The 12 month stock price consensus is $75.66 with a high of 100.00 and low of $67.00. The 12 month consensus stock price of $75.66 implies a total return of 20.80% with 14.81% from capital gains and 5.99% from dividends based on a current stock price of $65.90.

There are a few entries for this stock on Stock Chase in 2025. There are a couple of buys and a Hold. The Hold analysts is worried about the debt and feels that the company has to find a way to paying it down while growing the company. Puja Tayal on Motley Fool thinks this a good buy because she believes it has a safety net of assured dividend growth for the next two years. Christopher Liew on Motley Fool says this stock is price-friendly with income generation . The company put out a Press Release about their 2025 annual results. The company put out a Press Release about their first quarter of 2026 results.

Simply Wall Street via Yahoo Finance reviews this stock. They talk about Caisse de dépôt et placement du Québec recently moved to sell a block of Cogeco Communications Inc. subordinate voting shares, representing nearly 11% of the company’s issued and outstanding subordinate shares. They said eight fair values estimates span from $35.00 to $236.00 and this shows how widely views can differ.

Simply Wall Street via Yahoo Finance reviews this stock. I do not see any real answers to why the stock went so high in 2021 and has fallen ever since. Simply Wall Street has one warning of Interest payments are not well covered by earnings.

Cogeco Communications is a telecom service provider in Canada and the US, specifically in rural and suburban geographies. It offers wireline services such as broadband internet, TV, and landline phone services. It operates in Canada and in US throughout the East Coast, Pennsylvania, and Ohio. Its web site is here Cogeco Communications Inc.

The last stock I wrote about was about was Exco Technologies Ltd (TSX-XTC, OTC-EXCOF) ... learn more. The next stock I will write about will be Richelieu Hardware Ltd (TSX-RCH, OTC-RHUHF) ... learn more on Monday, February 2, 2026 around 5 pm.

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