Friday, July 18, 2025

Artis REIT

Sound bite for Twitter is: Dividend Paying REIT. Results of stock price testing is that the stock price is probably reasonable. Debt Ratios are mostly fine but the Liquidity Ratio can sometimes be a problem. The Dividend Payout Ratios (DPR) are mostly fine. The current dividend yield is high with dividend growth currently flat after a decrease. See my spreadsheet on Artis REIT.

Is it a good company at a reasonable price? The problem I see is that Revenue, AFFO, and FFO are expected to decline in 2025 and even for 2026 not be at the 2024 level. Earnings are expected to be negative. You have to wonder about dividends as DPRs are currently high and expected to go higher. The only positive is that there is some insider buying. So, buying this REIT is probably on the risky side. The current stock price is testing as relatively reasonable.

I do not own this stock of Artis REIT (TSX-AX.UN, OTC-ARESF). Early in 2013, this company was mentioned as a good REIT to own. Several people I correspond with mentioned this REIT. However, my first view of it is not positive. It is also not a dividend growth stock in 2013.

When I was updating my spreadsheet, I noticed that this company is not doing well. Revenue is going down as is Funds from Operations (FFO) and Adjusted Funds from Operations (AFFO). Analysts expect this to continue over the next two years.

If you had invested in this company in December 2014, for $1,006.78 you would have bought 71 shares at $14.18 per share. In December 2024, after 10 years you would have received $580.71 in dividends. The stock would be worth $522.56. Your total return would have been $1,103.27. This would be a total return of 1.27% per year with 6.35% from capital loss and 7.62% from dividends.

Cost Tot. Cost Shares Years Dividends Stock Val Tot Ret
$14.18 $1,006.78 71 10 $580.71 $522.56 $1,103.27

The current dividend yield is high with dividend growth currently flat after a decrease. The current dividend yield is high (7% and higher) at 7.74%. The 5 year dividend yield is good (5% to 6% ranges at 5.62%. The 10 year and historical median dividend yields are good at 7.17% and 7.38%. The dividends were cut in 2018. There was an increase in 2021 and dividends since then have been flat.

The Dividend Payout Ratios (DPR) are mostly fine. The DPR for 2024 for Earnings per Share (EPS) is non-calculable because of earnings losses. The DPR for 2024 for Adjusted Funds from Operations (AFFO) is fine at 92% with 5 year coverage at 71%. The DPR for 2024 for Funds from Operations (FFO) is good at 57% with 5 year coverage at 48%. The DPR for 2024 for Cash Flow per Share (CFPS) is far too high at 71% with 5 year coverage at 61%. I prefer this DPR be at 40% or lower. The DPR for 2024 for Free Cash Flow (FCF) is too high at 108% with 5 year coverage at 74%. No one agrees on what the FCF and there are wide differences.

Item Cur 5 Years
EPS -105.26% -347.86%
AFFO 92.31% 71.26%
FFO 57.14% 47.85%
CFPS 71.23% 60.73%
FCF 108.00% 73.56%

Debt Ratios are mostly fine but the Liquidity Ratio can sometimes be a problem. The Long Term Debt/Market Cap Ratio for 2024 is high at 0.85 and currently at 0.80. However, we need also to look at the Long Term Debt/Covering Assets Ratio for 2024 which is good at 0.28 and currently at 0.26 because this is a more important ratio for a REIT. The Liquidity Ratio for 2024 is low at 1.09 and far too low at 0.44 currently. If you added in Cash Flow after dividends, the ratios are still low at 1.12 and currently far too low at 0.47. If you add back the current portion of the long term debt the ratio is fine at 7.39 and currently at 2.76. The Debt Ratio for 2024 is good at 2.29 and 2.35 currently. The Leverage and Debt/Equity Ratios for 2024 are good at 1.77 and 0.77 and currently at 1.74 and 0.74.

Type Year End Ratio Curr
Lg Term R 0.85 0.80
Lg Term R +A 0.28 0.26
Intang/GW 0.00 0.00
Liquidity 1.09 0.44
Liq. + CF 1.12 0.47
Liq,CF,DB 7.39 2.76
Debt Ratio 2.29 2.35
Leverage 1.77 1.74
D/E Ratio 0.77 0.74

The Total Return per year is shown below for years of 5 to 20 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 2.13% -2.26% -9.16% 6.90%
2014 10 -5.71% 1.27% -6.35% 7.62%
2009 15 -3.84% 6.97% -2.86% 9.84%
2004 20 -1.14% 16.23% 0.90% 15.33%

The 5-year low, median, and high median Price/Earnings per Share Ratios are negative and so useless. The corresponding 10 year ratios are 6.07, 6.56 and 7.07. The corresponding historical ratios are 3.18, 3.59 and 4.01. The current P/E Ratio is negative and so unusable as EPS is expected to be a $0.13 loss.

I have Adjusted Funds from Operations (AFFO) data. The 5-year low, median, and high median Price/Adjusted Funds from Operations Ratios are 9.40, 11.67 and 13.40. The corresponding 10 year ratios are 9.26, 11.19 and 13.09. The corresponding historical ratios are 9.49, 11.78 and 13.34. The current P/AFFO is 15.82 based on AFFO estimate for 2025 of $0.49 and a stock price of $7.75. 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.

I have Funds from Operations (FFO) data. The 5-year low, median, and high median Price/Funds from Operations Ratios are 5.59, 7.31 and 9.03. The corresponding 10 year ratios are 6.68, 8.16 and 9.41. The corresponding historical ratios are 7.82, 9.06 and 10.44. The current P/FFO is 9.34 based on FFO estimate for 2025 of $0.83 and a stock price of $7.75. This 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 $11.88. The 10-year low, median, and high median Price/Graham Price Ratios are 0.48, 0.58 and 0.70. The current P/GP Ratio is 0.65 based on a stock price of $7.75. 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 am using AFFO figures in the calculation as EPS has too many loss earning years.

I get a 10-year median Price/Book Value per Share Ratio of 0.64. The current ratio is 0.60 based on a stock price of $7.75, Book Value of $1,267 and Book Value per Share of $12.81. This ratio is 6% 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 8.43. The current ratio is 9.95 based on Cash Flow for the last 12 months of $77.00, Cash Flow per Share of $0.78 and a stock price of $7.75. 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 7.38%. The current dividend yield is 7.74% based on dividends of $0.60 and a stock price of $7.75. The current dividend yield is 5% 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 7.75%. The current dividend yield is 7.74% based on dividends of $0.60 and a stock price of $7.75. The current dividend yield is 0.40% above the 10 year 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 3.33. The current P/S Ratio is 3.18 based on Revenue estimate for 2025 of $241M, Revenue per Share of $2.43 and a stock price of $7.75. The current ratio is 4% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median.

Results of stock price testing is that the stock price is probably reasonable. The dividend yield testing is saying that the stock price is relatively reasonable. This is confirmed by the P/S Ratio test. The rest of the testing is suggesting the stock price is reasonable, but above the median or expensive.

When I look at analysts’ recommendations, I find only Holds (2). The consensus would be a Hold. The 12 month stock price consensus is $7.25 with a high $7.50 and low of $7.00. The stock price consensus of $7.25 imply a total return of 1.29% with a capital loss of 6.45% and dividends of 7.74% based on a current stock price of $7.75.

There is one entry on Stock Chase and analyst says the company is in transition and so difficult to analyst. Amy Legate-Wolfe on Motley Fool says the stock may not be flashy, but it is currently delivering reliable monthly cash. Ambrose O'Callaghan on Motley Fool says buy this stock for is passive income. The company put out a press release via Newswire about its fourth quarter results for 2024. The company put out a Press Release via Newswire about their first quarter of 2025.

Simply Wall Street via Yahoo Finance reviews this stock. A lot of the review is negative, but they point out insider buying. Simply Wall Street has 3 warnings out on this stock of earnings have declined by 41.4% per year over past 5 years; interest payments are not well covered by earnings; and dividend of 7.8% is not well covered by earnings.

Artis Real Estate Investment Trust is an unincorporated closed-end real estate investment trust created under, and governed by, the laws of the Province of Manitoba. The REIT owns, manages, leases, and develops industrial, office, retail and residential properties in Canada and the United States, and holds other real estate investments. Its web site is here Artis REIT

The last stock I wrote about was about was Obsidian Energy Ltd (TSX-OBE, NYSE-OBE) ... learn more. The next stock I will write about will be Dorel Industries Inc (TSX-DII.B, OTC-DIIBF) ... learn more on Monday, July 21, 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.

Wednesday, July 16, 2025

Obsidian Energy Ltd

Sound bite for Twitter is: Resource Sector Stock. Results of stock price testing is that the stock price is probably reasonable and below the median. Debt Ratios are fine. The stock no longer pays a dividend so there is not current dividend or Dividend Payout Ratios (DPR). See my spreadsheet on Obsidian Energy Ltd.

Is it a good company at a reasonable price? This is an energy stock, so it is cyclical and risky. Analysts do no expect it to do well in 2025, but they expect 2026 to be a better year. There is insider buying and this is a positive. My stock price testing is showing the stock as currently being at a reasonable price.

I do not own this stock of Obsidian Energy Ltd (TSX-OBE, NYSE-OBE), but I used to. I bought this stock as Maximum Energy Trust (MXT.UN) in 1998. In November 2001, there was a stock exchange and the stock became Ultimate Energy Fund. In June 2004 fund changed from Ultimate Energy Income Trust to Petrofund Energy. Petrofund Energy merged with Penn West in July 2006. The company changed its name from Penn West Petroleum Ltd. (TSX-PWT, NYSE-PWE) to Obsidian Energy Ltd (TSX-OBE, NYSE-OBE) in 2017.

I sold my shares in 2010. Penn West is changing to a corporation, but they are also getting back into exploration, rather than just selling oil from their wells. It is time to sell. They also just reduced their dividends from $.15 per share per month to $.09 per share per month.

When I was updating my spreadsheet, I noticed that there is an earnings loss because the company took an impairment hit. There is a lot of insiders buying over the past year with concentration from March 2025. Over the past year all of the officers I follow bought more shares as did directors, especially the Chairman. The stock is cyclical. See returns for 5 and 10 years below.

If you had invested in this company in December 2014, for $1,003.59 you would have bought 59 shares at $17.01 per share. In December 2024, after 10 years you would have received $70.21 in dividends. The stock would be worth $493.24. Your total return would have been $563.45. This would be a total loss of 6.13% per year with 6.86% from capital loss and 0.72% from dividends.

Cost Tot. Cost Shares Years Dividends Stock Val Tot Ret
$17.01 $1,003.59 59 10 $70.21 $493.24 $563.45

If you had invested in this company in December 2019, for $1,000.68 you would have bought 1076 shares at $0.93 per share. In December 2024, after 5 years you would have received $0.00 in dividends. The stock would be worth $8,995.36. Your total return would have been $8,99.36. This would be a total gain of 55.15% per year with 55.15% from capital gain and 0.0% from dividends.

Cost Tot. Cost Shares Years Dividends Stock Val Tot Ret
$0.93 $1,000.68 1,076 5 $0.00 $8,995.36 $8,995.36

The stock no longer pays a dividend so there is no current dividend or Dividend Payout Ratios (DPR).

Debt Ratios are fine. The Long Term Debt/Market Cap Ratio for 2024 is fine at 0.54 and currently at 0.65, but these ratios are better when they are below 0.50. The Liquidity Ratio for 2024 is good at 1.79 and 1.56 currently. The Debt Ratio for 2024 is good at 2.98 and 2.85 currently. The Leverage and Debt/Equity Ratios for 2024 are good at 1.50 and 0.50 and currently at 1.54 and 0.54.

Type Year End Ratio Curr
Lg Term R 0.54 0.65
Intang/GW 0.00 0.00
Liquidity 1.79 1.56
Liq. + CF 3.10 2.48
Debt Ratio 2.98 2.85
Leverage 1.50 1.54
D/E Ratio 0.50 0.54

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 0.00% 55.15% 55.15% 0.00%
2014 10 0.00% -6.13% -6.86% 0.72%
2009 15 0.00% -13.51% -16.71% 3.20%
2004 20 0.00% -1.64% -14.28% 13.81%
1999 25 0.00% 20.54% -10.59% 39.76%
1995 29 0.00% 8.84% -10.62% 19.20%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 0.17, 0.58 and 1.00. The corresponding 10 year ratios are negative so unusable. The corresponding historical ratios are 3.66, 5.80 and 7.06. The ratios are very low because of years of earnings losses. The current ratio is 4.88 based on a stock price of $7.42 and EPS estimate for 2025 of $1.52. This ratio is very low. This stock price testing suggests that the stock price is cheap.

I have Cash Flow from Operations (CFFO) data. The 5-year low, median, and high median Price/ Cash Flow from Operations Ratios are 1.10, 1.93 and 2.70. The corresponding 10 year ratios are 1.32, 2.21 and 2.82. The corresponding historical ratios are 1.96, 4.13 and 6.10. The current ratio is 1.03 based on a stock price of $7.42 and CFFO estimate for 2025 of $7.20. This ratio is below the low ratio of the 10 year median ratios. This stock price testing suggests that the stock price is cheap.

I have Funds Flow from Operations (FFO) data. The 5-year low, median, and high median Price/ Funds Flow from Operations Ratios are 1.08, 1.78 and 2.26. The corresponding 10 year ratios are 1.45, 2.02 and 2.70. The corresponding historical ratios are 1.45, 2.81 and 4.22. The current ratio is 1.30 based on a stock price of $7.42 and FFO for last 12 months of $5.72. This 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 Graham Price of $49.93. The 10-year low, median, and high median Price/Graham Price Ratios are 0.12, 0.21 and 0.28. The current ratio is 0.15 based on a stock price of $7.42. This ratio is between the low and median ratio of the 10 year median ratios. I am using the FFO values in this calculation because the P/GP ratio using EPS is compromised by the number of recent earning losses. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I get a 10-year median Price/Book Value per Share Ratio of 0.35. The current P/B Ratio is 0.38 based on a Book Value of $1,412M, Book Value per Share of $19.37 and a stock price of $7.42. The current ratio is 9% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable but above the median.

I get a 10-year median Price/Cash Flow per Share Ratio of 1.92. The current ratio is 1.88 based on Cash Flow per Share estimate for 2025 of $3.94, Cash Flow per Share of $287.1M and a stock price of $7.42. The current ratio is 2% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I cannot do any dividend yield testing because this company no longer pays a dividend.

The 10-year median Price/Sales (Revenue) Ratio is 0.79. The current P/S Ratio is 0.76 based on Revenue estimate for 2025 of $714M, Revenue per Share of $9.80 and a stock price of $7.42. The current ratio is 4% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median.

When I look at analysts’ recommendations, I find Strong Buy (1), and Hold (3). The consensus would be a Buy. The 12 month stock price consensus is $9.25 with a high of $10.00 and low of $8.00. The consensus stock price of $9.25 implies a total return of 24.66%, all from capital gains based on a current stock price of $7.42.

The last entry on Stock Chase is for 2022 and it is a Do Not Buy. Amy Legate-Wolfe on Motley Fool says this company is currently producing solid financial results. Christopher Liew on Motley Fool said this stock was currently cheap at $9.26. The company put out a Press Release about their fourth quarter results for 2024. The company put out a Press Release on their first quarter results for 2025.

Simply Wall Street via Yahoo Finance talk about the global market undervaluing small cap with recent Insider Activity including this stock. Simply Wall Street gives no risk warnings on this stock. I did find insider buying on this stock.

Obsidian Energy Ltd is an intermediate-sized oil and gas producer with strategic assets in Alberta. It operates in a single reporting segment that is exploration, development, and holding an interest in oil and natural gas properties and related production infrastructure in the Western Canada Sedimentary Basin. The company generates the majority of the revenue from the Crude oil sale. Its web site is here Obsidian Energy Ltd.

The last stock I wrote about was about was TMX Group Ltd (TSX-X, OTC-TMXXF) ... learn more. The next stock I will write about will be Artis REIT (TSX-AX.UN, OTC-ARESF) ... learn more on Friday, July 18, 2025 around 5 pm. Tomorrow on my other blog I will write about Open Banking.... learn more on Thursday, July 17, 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.

Monday, July 14, 2025

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 no 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.

Friday, July 11, 2025

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.

Wednesday, July 9, 2025

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.

Monday, July 7, 2025

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.