KP Tissue Inc

Sound bite for Twitter and StockTwits is: Dividend Paying Consumer. Results of stock price testing is that the stock price is probably cheap. Debt Ratios for KP Tissue Inc are fine, but it is wholly dependent on Kruger Products Inc. Debt Ratios for Kruger Products Inc shows debt ratios are not good and that the debt is too high. The Dividend Payout Ratios (DPR) are non-calculable. The current dividend yield is high with dividend growth non-existent. See my spreadsheet on KP Tissue Inc.

Is it a good company at a reasonable price? I like dividend growth stocks. Although this stock has a high dividend yield it is not growing and every gain in yield subtracts from your capital investment. The total return on this stock has mostly been negative except for the last 5 year because 5 years ago, the stock price was relatively low at $8.07. This stock is totally dependent on one company Kruger Products L.P. The current dividend yield is quite high at over 8%. Results of my testing is showing that the stock price is relatively cheap.

I do not own this stock of KP Tissue Inc (TSX-KPT, OTC-KPTSF). This was a stock suggested by a speaker at the Ellen's Investment Club.

When I was updating my spreadsheet, I noticed this stock is complicated. They basically own shares in another company and only one. They have been around for over 11 years and the dividend has not changed. The stock price wanders around, but has never gone back to the original price. I do not really see why anyone would buy it. The dividends are good, with current 10 year median dividend yield at 6.4%

If you had invested in this company in December 2013, for $1,012.44 you would have bought 59 shares at $17.16 per share. In December 2023, after 10 years you would have received $424.80.21 in dividends. The stock would be worth $532.18. Your total return would have been $956.98. This would be a total loss of 0.70% per year with 6.23% from capital loss and 5.53% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$17.16	$1,012.44	59	10	$424.80	$532.18	$956.98

The current dividend yield is high with dividend growth non-existent. The dividend yield is high (7% or higher) at 8.82%. The 5, 10 and historical dividend yields are good (5% to 6% ranges) at 6.72%, 6.44% and 6.39%. There has no change in the dividends since this stock was listed approximately 10 years ago.

The Dividend Payout Ratios (DPR) are non-calculable. The chart below has all zeros because the payout rates cannot be calculated. The EPS show earning losses with a couple of exceptions. There is no cash flow for this stock. The Free Cash Flow is negative or zero or the same value as the dividends, depending on where you look for this value.

Item	Cur	5 Years
EPS	0.00%	0.00%
CFPS	0.00%	0.00%
FCF	0.00%	0.00%

Debt Ratios for KP Tissue Inc are fine, but it is wholly dependent on Kruger Products Inc. The Liquidity Ratio is low for 2023 at 1.09 and currently at 1.03. I prefer this to be at 1.50 or higher. The Debt Ratio is high for 2023 at 31.38 and currently at 33.55. This because the company has few liabilities compared to assets. However, this stock is wholly dependent on Kruger Products Inc. The Leverage and Debt/Equity Ratios for 2023 are good at 1.03 and 0.03 and currently at 1.03 and 0.03.

Type	Year End	Ratio Curr
Lg Term R	0.00	0.00
Intang/GW	0.00	0.00
Liquidity	1.09	1.03
Liq. + CF	0.26	0.24
Debt Ratio	31.38	33.55
Leverage	1.03	1.03
D/E Ratio	0.03	0.03

Debt Ratios for Kruger Products Inc shows debt ratios are not good and that the debt is too high. The Long Term Debt/Market Cap Ratio cannot be calculated. The Liquidity Ratio for 2023 is too low at 1.09 and 0.97 currently. The Debt Ratio for 2023 is low at 1.36 and 1.36 currently. I like both these ratios to be 1.50 or higher. The Leverage and Debt/Equity Ratios for 2023 are too high at 3.79 and 2.79 and currently at 3.74 and 2.74. I prefer these ratios to be below 3.00 and 2.00

Type	Year End	Ratio Curr
Lg Term R	0.00	0.00
Intang/GW	0.08	0.07
Liquidity	1.09	0.97
Liq. + CF	0.00	0.00
Debt Ratio	1.36	1.36
Leverage	3.79	3.74
D/E Ratio	2.79	2.74

The Total Return per year is shown below for years of 5 to 11 to the end of 2023. 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	0.00%	10.82%	2.25%	8.57%
2013	10	-0.50%	-0.70%	-6.23%	5.53%
2012	11		-0.34%	-5.84%	5.50%

The 5-year low, median, and high median Price/Earnings per Share Ratios are negative and so useless in testing the stock price.

I get a Graham Price of $9.86. The 10-year low, median, and high median Price/Graham Price Ratios are 3.60, 5.11 and 6.28. The current P/GP Ratio is 0.83 based on a stock price of $8.16. This ratio is below the low ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively cheap. However, I had to guess at what the Graham Price was in a lot of years, so this is not a good price.

I get a 10-year median Price/Book Value per Share Ratio of 1.21. The current ratio is 1.15 based on a stock price of $8.16, Book Value of $70.7M, and Book Value per Share of $7.09. The current ratio is 5% 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 2024 of $8.25. This implies a ratio of $0.99 and a Book Value of $82.2M. This ratio is 18% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I cannot do a Price/Cash Flow per Share Ratio test as this company has no Cash Flow.

I get an historical median dividend yield of 6.39%. The current dividend yield is 8.82% based on dividends of $0.72 and stock price of $8.16. The current dividend yield is 38% 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 6.44%. The current dividend yield is 8.82% based on dividends of $0.72 and stock price of $8.16. The current dividend yield is 37% 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 0.10. The current P/S Ratio is 0.04 based on Revenue of $2034M, Revenue per Share of $203.94 and a stock price of $8.16. The current ratio is 60% 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 show that the stock price is cheap. The P/S Ratio test says that the stock price is cheap and confirms the Dividend Yield tests. Whatever testing I can do is showing the stock price as cheap or reasonable.

When I look at analysts’ recommendations, I find only Holds (4). The consensus would be a Hold. The 12 month stock price of $9.13, with a high of $10 and low of $8.50. The 12 month stock price of $9.13 implies a total return of 20.71 with 11.89% from capital gains and 8.82% in dividends.

The last analysts’ comments on Stock Chase in August 2023 and it was a Do Not Buy. Little coverage. Stock Chase gives this stock 1 star out of 5. Amy Legate-Wolfe on Motley Fool says high dividend yield is appealing but is considered that the dividend is no safe. Joey Frenette on Motley Fool thought in February 2023, you might want to buy this stock for passive dividend income. The company put out a press release on Newswire about their fourth quarter of 2023 results. The company put out a press release on Newswire about their third quarter of 2024 results .

GuruFocus News via Yahoo Finance put out a report on this stock. There is no review by Simply Wall Street. However, Simply Wall Street give this stock 3 and one half stars out of 5. Simply Wall Street gives 3 warnings makes less than USD$1m in revenue (CA$0); does not have a meaningful market cap (CA$81M); and significant insider selling over the past 3 months.

KP Tissue Inc operates as a holding company. The firm produces, distributes, markets, and sells a range of disposable tissue products in North America. It offers bathroom and facial tissues, paper towels, paper towels, and napkins, as well as disposable wiping products and washroom dispensing systems. Its web site is here KP Tissue Inc.

The last stock I wrote about was about was Maple Leaf Foods Inc (TSX-MFI, OTC-MLFNF) ... learn more. The next stock I will write about will be Agnico Eagle Mines Ltd (TSX-AEM, NYSE-AEM) ... learn more on Monday, December 23, 2024 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.

Maple Leaf Foods Inc

Sound bite for Twitter and StockTwits is: Dividend Growth Consumer. Results of stock price testing is that the stock price is probably cheap. Debt Ratios are fine and better currently than for 2023. The Dividend Payout Ratios (DPR) are too high because of recent earnings losses and low cash flow, but analysts expect this to improve. The current dividend yield is moderate with dividend growth moderate. See my spreadsheet on Maple Leaf Foods Inc.

Is it a good company at a reasonable price? This stock is cheap for a reason, and that reason being the recent earnings losses and low earnings. However, the stock is doing better this year. A stock being cheap does not necessarily mean the stock is a good buy. This stock, in the past, has provided a decent return with dividends. However, I like growth stocks that provide a minimum total return of 8% per year (capital gains and dividends). The return on this stock has generally been less than 8% per year. Currently I would not be interested in this stock.

I do not own this stock of Maple Leaf Foods Inc (TSX-MFI, OTC-MLFNF). I am doing a report on this stock because it was on the Top 100 Canadian Dividend Stocks by Maple Money . It also was on the Top 100 Dividend Stocks Money Sense for 2021 gets a solid C Rating from Money Sense.

When I was updating my spreadsheet, I noticed that they have had earnings losses over the past 2 years. However, with the first and third quarters they had positive earnings and overall, by the third quarter the earnings are positive.

If you had invested in this company in December 2013, for $1,007.40 you would have bought 60 shares at $16.79 per share. In December 2023, after 10 years you would have received $322.80 in dividends. The stock would be worth $1,514.40. Your total return would have been $1,837.20. This would be a total return of 6.67% per year with 4.16% from capital gain and 2.51% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$16.79	$1,007.40	60	10	$322.80	$1,514.40	$1,837.20

The current dividend yield is moderate with dividend growth moderate. The current dividend yield is moderate (2% to 4% ranges) at 4.02%. The 5 year median dividend yield is also moderate at 2.60%. The 10 year and historical median dividend yields are low (below 1%) at 1.86% and 1.49%. It is only in the last 5 year that the dividend yield has been above 2%. The dividend growth for the last 5 year is moderate (8% to 14% ranges) at 10.07%. The last dividend increase was in 2024 and it was for 4.8%. Last year it was 5%.

The Dividend Payout Ratios (DPR) are too high because of recent earnings losses and low cash flow, but analysts expect this to improve. The DPR for 2023 for Earnings per Share (EPS) is non-calculable because of earnings losses. The DPR for 2023 for Adjusted Earnings per Share (AEPS) is far too high at 933% with 5 year coverage at 230%. This is also because of earning losses. The DPR for 2023 for Cash Flow per Share (CFPS) is too high at 134% with 5 year coverage at 71%. The DPR for 2023 for Free Cash Flow (FCF) is non-calculable because of negative FCF with 5 year coverage good at 34%.

Item	Cur	5 Years
EPS	0.00%	0.00%
AEPS	933.33%	230.13%
CFPS	134.37%	71.58%
FCF	-381.36%	33.99%

Debt Ratios are fine and better currently than for 2023. The Long Term Debt/Market Cap Ratio for 2023 is good at 0.50 and currently fine at 0.52. The Liquidity Ratio for 2023 is low at 1.17 and 1.26 currently. If you added in Cash Flow after dividends, the ratios are still low at 1.22 and currently good at 1.62. The Debt Ratio for 2023 is low at 1.49 and good at 1.51 currently. The Leverage and Debt/Equity Ratios for 2023 are too high at 3.04 and 2.04 and currently fine at 2.95 and 1.95.

Type	Year End	Ratio Curr
Lg Term R	0.50	0.55
Intang/GW	0.11	0.13
Liquidity	1.17	1.26
Liq. + CF	1.22	1.62
Debt Ratio	1.49	1.51
Leverage	3.04	2.95
D/E Ratio	2.04	1.95

The Total Return per year is shown below for years of 5 to 33 to the end of 2023. 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	10.07%	1.12%	-1.58%	2.70%
2013	10	18.04%	6.67%	4.16%	2.51%
2008	15	11.69%	7.83%	5.65%	2.19%
2003	20	8.64%	6.34%	4.48%	1.86%
1998	25	6.86%	3.61%	2.17%	1.43%
1993	30	2.68%	3.75%	2.27%	1.48%
1990	33	2.43%	4.34%	2.58%	1.76%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 22.43, 28.04 and 33.65. The corresponding 10 year ratios are 21.07, 26.39 and 31.72. The corresponding historical ratios are 16.08, 19.62 and 24.24. The current ratio is 21.04 based on a stock price of $21.88 and EPS estimate for 2024 of $1.04. 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 Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Adjusted Earnings per Share Ratios are 23.06, 26.90 and 30.74. The corresponding 10 year ratios are 20.76, 25.09 and 29.41. The current ratio is 34.19 based on a stock price of $21.88 and AEPS estimate for 2024 of $0.64. 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. However, note that AEPS estimate for 2025 is $1.32 with a P/E Ratio of 16.58 a value below the low ratio of the 10 year median ratios.

I get a Graham Price of $13.28. The 10-year low, median, and high median Price/Graham Price Ratios are 1.16, 1.44 and 1.65. The current P/GP Ratio is 1.65 based on a stock price of $21.88. This ratio is at the top 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 10-year median Price/Book Value per Share Ratio of 1.74. The current P/B Ratio is 1.79 based on a book Value of 1,514M, Book Value per Share of $12.36 and a stock price of $21.88. The current ratio is 2.5% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable but above the median.

I also have a Book Value per Share estimate for 2024 of $12.24. This implies a ratio of 1.79 based on a stock price of 21.88 and a Book Value of $1,510. This ratio is 2.5% 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 12.01. The current ratio is 6.44 based on a stock price of $21.88, Cash Flow per Share estimate for 2024 of $3.40 and Cash Flow of $512M. This ratio is 46% below the 10 year median ratios. This stock price testing suggests that the stock price is relatively cheap.

I get an historical median dividend yield of 1.49%. The current dividend yield is 4.02% based on dividends of $0.88 and a stock price of $21.88. The current dividend yield is 170% 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 1.86%. The current dividend yield is 4.02% based on dividends of $0.88 and a stock price of $21.88. The current dividend yield is 117% 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 0.85. The current P/S Ratio is 0.55 based on Revenue estimate for 2024 of $4,898M, Revenue per Share of $37.96 and a stock price of $21.88. This ratio is 35% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

Results of stock price testing is that the stock price is probably cheap. The dividend tests are saying that the stock price is relatively cheap. It is confirmed by the P/S Ratio test. The rest of the testing range from cheap to expensive. A number say relatively reasonable but above the median.

When I look at analysts’ recommendations, I find Strong Buy (3), and Buy (2). The consensus would be a Strong Buy. The 12 month stock price consensus is $29.80 with a high of $34.00 and low of 26.00. The 12 month consensus price implies a total return of $40.22% with 36.20% from capital gains and 4.02% from dividends.

Both entries on Stock Chase for 2024 and 2023 say Do Not Buy. Worry is economic weakness and inflation. Stock Chase gives this stock 3 stars out of 5. Jitendra Parashar on Motley Fool thinks you should buy because it is very cheap. Karen Thomas on Motley Fool thinks you should buy because problems are temporary and stock is attractively valued. The company put out a Press Release about their fourth quarter of 2024. The company put out a Press Release.

Simply Wall Street via Yahoo Finance reviews this stock. Simply Wall Street shows 3 warnings of earnings have declined by 43.6% per year over past 5 years; interest payments are not well covered by earnings; and dividend of 4.09% is not well covered by earnings. Simply Wall Street gives this stock 2 and one half stars out of 5.

Maple Leaf Foods Inc is a producer of food products under leading brands, including Maple Leaf, Maple Leaf Prime, Maple Leaf Natural Selections, Schneiders, Schneiders Country Naturals, Mina, Greenfield Natural Meat Co., Lightlife, and Field Roast. Its main markets are Canada, the United States, Japan, and China. Its web site is here Maple Leaf Foods Inc.

The last stock I wrote about was about was Element Fleet Management Corp (TSX-EFN, OTC-ELEEF) ... learn more. The next stock I will write about will be KP Tissue Inc (TSX-KPT, OTC-KPTSF) ... learn more on Friday, December 20, 2024 around 5 pm. Tomorrow on my other blog I will write about Debt Advice.... learn more on Thursday, December 19, 2024 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.

Element Fleet Management Corp

Sound bite for Twitter and StockTwits is: Dividend Growth Financial. Results of stock price testing is that the stock price might be reasonable, but at the high end and maybe 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 Element Fleet Management Corp.

Is it a good company at a reasonable price? I rather like this small cap company. I think that the analysts that suggest to wait for a further pull back on price are probably right, but you can never really know. The stock price is testing from reasonable, but above the median to expensive.

I do not own this stock of Element Fleet Management Corp (TSX-EFN, OTC-ELEEF). I was looking for stocks to follow and I found this stock in 100 best Dividend Stocks Money Sense for 2018. It was also on Raymond James' top 19 Canadian stocks for 2019 list.

When I was updating my spreadsheet, I noticed that this company has of January 1, 2024 changed their reporting currency from CDN$ to US$.

If you had invested in this company in December 2013, for $1,008.00 you would have bought 72 shares at $14.00 per share. In December 2023, after 10 years you would have received $489.22 in dividends. The stock would be worth $1,552.32. Your total return would have been $2,041.54. This would be a total return of 8.14% per year with 4.41% from capital gain and 3.73% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$14.00	$1,008.00	72	11	$489.22	$1,552.32	$2,041.54

The current dividend yield is low with dividend growth moderate. The current dividend yield is low (below 2%) at 1.83%. The 5 and 7 year median dividend yields are also low at 1.94% and 1.98%. The dividend growth is moderate (8% to 14% ranges) at 9.9% per year over the past 5 years. This stock has only been on the TSX for 10 years and dividends have been paid for the past 7 years.

The Dividend Payout Ratios (DPR) are good. The DPR for 2023 for Earnings per Share (EPS) is good at 43% with 5 year coverage at 41%. The DPR for 2023 for Adjusted Earnings per Share (AEPS) is good at 37% with 5 year coverage at 28%. The DPR for 2023 for Cash Flow per Share (CFPS) is good at 31% with 5 year coverage at 8%. The DPR for 2023 for Free Cash Flow (FCF) is non-calculable for 2023 with 5 year coverage good at 6%. No site agrees on FCF and they are great differences.

Item	Cur	5 Years
EPS	43.24%	40.52%
AEPS	37.21%	28.20%
CFPS	30.50%	8.38%
FCF	-30.95%	6.02%

Debt Ratios are fine. The Long Term Debt/Market Cap Ratio for 2023 is too high at 1.43 and currently at 1.08. However, we need also to look at the Long Term Debt/Covering Assets Ratio for 2023 which is also too high at 1.17 and currently at 1.04 because this is a more important one for a Financial. The Liquidity Ratio for 2023 is low at 0.46 and 0.45 currently, but this is not important for financials. The Debt Ratio for 2023 is low at 1.31 and 1.28 currently, but this is fine for a financial. The Leverage and Debt/Equity Ratios for 2023 are good at 4.22 and 3.22 and currently at 4.56 and 3.56. These are also fine for financials.

Type	Year End	Ratio Curr
Lg Term R	1.43	1.08
Lg Term R+A	1.17	1.04
Intang/GW	0.25	0.20
Liquidity	0.46	0.45
Liq. + CF	0.00	0.40
Debt Ratio	1.31	1.28
Leverage	4.22	4.56
D/E Ratio	3.22	3.56

The Total Return per year is shown below for years of 5 to 12 to the end of 2023 in CDN$. Under the Capital Gain column is the portion of the Total Return attributable to capital gains. Under the Dividend column is the portion of the Total Return attributable to dividends. See chart below.

From	Years	Div. Gth	Tot Ret	Cap Gain	Div.
2018	5	9.86%	27.98%	25.56%	2.42%
2013	10	25.12%	8.14%	4.41%	3.73%
2011	12		18.71%	13.34%	5.37%

The Total Return per year is shown below for years of 5 to 12 to the end of 2023 in US$. Under the Capital Gain column is the portion of the Total Return attributable to capital gains. Under the Dividend column is the portion of the Total Return attributable to dividends. See chart below.

From	Years	Div. Gth	Tot Ret	Cap Gain	Div.
2018	5	10.54%	28.68%	26.15%	2.53%
2013	10	25.39%	8.04%	4.32%	3.72%
2011	12		15.33%	10.77%	4.56%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 15.40, 17.88 and 20.79. The corresponding 10 year ratios are 15.56, 18.38 and 22.72. The corresponding historical ratios are 13.13, 17.68 and 20.03. The current P/E Ratio is 20.94 based on stock price of $28.39 and EPS estimate for 2024 of $1.36. 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 also have Adjusted Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Adjusted Earnings per Share Ratios are 10.28, 14.27 and 17.18. The corresponding 10 year ratios are 10.16, 13.90 and 17.22. The current P/AEPS Ratio is 17.86 based on a stock price of $28.39 and AEPS estimate for 2024 of $1.59. This ratio is above the high ratios of the 10 year median ratios. This stock price testing suggests that the stock price is relatively expensive.

I get a Graham Price of $17.06. The 10-year low, median, and high median Price/Graham Price Ratios are 0.65, 0.83 and 1.07. The current ratio is 1.49 based on a stock price of $28.39. This ratio is above the high ratio of the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive

I get a 10-year median Price/Book Value per Share Ratio of 1.12. The current ratio is 2.80 based on a Book Value of $3,948.4M, Book Value per Share of $10.15 and a stock price of $28.39. The current ratio is 149% 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 2024 of $9.86. This implies a ratio of 2.88 based on a stock price of $28.39 and a Book Value of $3,835.3M. This ratio is 156% above the current ratio of 1.12. 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 3.13. The current ratio is negative, so I cannot do any testing.

I get an historical median dividend yield of 1.98%. The current dividend yield is 1.83% based on Dividends of $0.52 and a stock price of $28.39. The current dividend yield is 7.5% below the historical median dividend yield. This stock price testing suggests that the stock price is relatively reasonable but above the median.

I get a 10 year median dividend yield of 1.98%. The current dividend yield is 1.83% based on Dividends of $0.52 and a stock price of $28.39. The current dividend yield is 7.5% below the 10 year median dividend yield. This stock price testing suggests that the stock price is relatively reasonable but above the median.

The 10-year median Price/Sales (Revenue) Ratio is 5.06. The current P/S Ratio is 7.19 based on Revenue estimate for 2024 of $1,536M, Revenue per Share of $3.95 and a stock price of $28.39. The current ratio is 42% above the 10 year ratio. This stock price testing suggests that the stock price is relatively expensive.

Results of stock price testing is that the stock price might be reasonable, but at the high end and maybe expensive. The stock has pulled back from its high of $30.18 December 9, but perhaps it needs to pull back a bit more for it to be a buy. Other tests say the stock price is reasonable and above the median or expensive.

When I look at analysts’ recommendations, I find Strong Buy (3), Buy (3), Hold (1) and Sell (1). The consensus would be a Buy. The 12 month stock price consensus is $32.44 with a high of $39.00 and low of $26.50. The consensus price of $32.44 implies a total return of 16.10% with 14.27% from capital gains and 1.83% from dividends.

Analysts on Stock Chase like this company and there are lots of entries for this stock. Most say Buy, but a couple think that the price is too high and it is best to wait for a pullback in price. Stock Chase gives this stock 5 stars out of 5. Jitendra Parashar on Motley Fool in August said the price surged after a good second quarter. Amy Legate-Wolfe on Motley Fool says this is a growth stock that is climbing higher. The company put out a Press Release about their fourth quarter of 2023. The company put out a Press Release on their third quarter results.

Simply Wall Street via Yahoo Finance talk about who owns this company. Simply Wall Street via Yahoo Finance talk about ROE and debt. Simply Wall Street gives this stock 2 and one half stars out of 5. Simply Wall Street gives 3 warns on this stock of debt is not well covered by operating cash flow; shareholders have been diluted in the past year; and dividend of 1.8% is not well covered by free cash flows.

Element Fleet Management Corp is a fleet management company, providing services and financings for commercial vehicle and equipment fleets. The company operates in the U.S., Canada, Mexico, Australia, and New Zealand. Its web site is here Element Fleet Management Corp.

The last stock I wrote about was about was Bird Construction Inc (TSX-BDT, OTC-BIRDF) ... learn more. The next stock I will write about will be Maple Leaf Foods Inc (TSX-MFI, OTC-MLFNF) ... learn more on Wednesday, December 18, 2024 around 5 pm. Tomorrow on my other blog I will write about Knowable Magazine.... learn more on Tuesday, December 17, 2024 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.

Bird Construction Inc

Sound bite for Twitter and StockTwits is: Dividend Growth Industrial. Results of stock price testing is that the stock price is probably expensive. Debt Ratios need improving and company has too much debt. The Dividend Payout Ratios (DPR) are good. The current dividend yield is moderate with dividend growth low. See my spreadsheet on Bird Construction Inc.

Is it a good company at a reasonable price? The company has a lot of debt and that is a negative. The stock price has skyrocketed since 2023, so if you like this company perhaps it is best to wait for the stock price is pull back. Earnings and Cash Flow do show volatility. So, you should not buy if you do not like volatility. Currently I my testing is showing that the stock price is relatively expensive. I know that analysts consensus is a Buy, but most analyst consensuses are a Buy.

I do not own this stock of Bird Construction Inc (TSX-BDT, OTC-BIRDF). This was listed as a top stock in ETF of iShares S&P TSX Canadian Dividend Aristocrats Index. I had not heard of it before, so I decided to do a spreadsheet on this stock in 2016.

When I was updating my spreadsheet, I noticed that this stock has done well lately. The stock price is up 89% this year, after an increase of 77% last year. Dividends were increased twice this year and the second increase was for 50%. However, they did cut the dividends by 49% in 2017.

If you had invested in this company in December 2013, for $1,010.80 you would have bought 76 shares at $13.30 per share. In December 2023, after 10 years you would have received $385.27 in dividends. The stock would be worth $1,094.40. Your total return would have been $1,479.67. This would be a total return of 4.61% per year with 0.80% from capital gain and 3.82% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$13.30	$1,010.80	76	10	$385.27	$1,094.40	$1,479.67

The current dividend yield is moderate with dividend growth low. The dividend yield is low (2% to 4% ranges) at 3.09%. The 5, 10 and historical median dividend yields are good (5% to 6% ranges) at 5.71%, 5.00% and 5.38%. The current dividend growth is low at 1.5% per year over the past 5 years. However, the dividends were cut in 2017. They were flat for the next few years and then increased in 2023 and 2024. The current dividend is 10.5% higher than it was in 2018.

The Dividend Payout Ratios (DPR) are good. The DPR for 2023 for Earnings per Share (EPS) is good at 32% with 5 year coverage at 49%. The DPR for 2023 for Adjusted Earnings per Share (AEPS) is good at 30% with 5 year coverage is high at 67%. The DPR for 2023 for Cash Flow per Share (CFPS) is good at 16% with 5 year coverage at 24%. The DPR for 2023 for Free Cash Flow (FCF) is good at 22% with 5 year coverage at 33%. There is no agreement on what FCF is from various sites.

Item	Cur	5 Years
EPS	31.56%	48.52%
AEPS	30.41%	67.21%
CFPS	15.63%	23.88%
FCF	22.56%	32.81%

Debt Ratios need improving and company has too much debt. The Long Term Debt/Market Cap Ratio for 2023 is good at 0.08 and currently at 0.09. The Liquidity Ratio for 2023 is low at 1.26 and 1.25 currently. If you added in Cash Flow after dividends, the ratios are still low at 1.31 and currently at 1.40. I prefer this ratio to be 1.50 or higher. The Debt Ratio for 2023 is too low at 1.29 and 1.30 currently. I prefer this ratio to be 1.50 or higher. The Leverage and Debt/Equity Ratios for 2023 are too high at 4.42 and 3.42 and currently at 4.38 and 3.38. I prefer these ratios to be below 3.00 and 2.00.

Type	Year End	Ratio Curr
Lg Term R	0.08	0.09
Intang/GW	0.13	0.15
Liquidity	1.26	1.25
Liq. + CF	1.31	1.40
Debt Ratio	1.29	1.30
Leverage	4.42	4.38
D/E Ratio	3.42	3.38

The Total Return per year is shown below for years of 5 to 26 to the end of 2023. 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	1.48%	23.48%	18.70%	4.77%
2013	10	-5.64%	4.61%	0.80%	3.82%
2008	15	-0.94%	12.07%	5.27%	6.80%
2003	20	2.09%	27.39%	9.79%	17.60%
1998	25	6.23%	47.84%	16.91%	30.93%
1997	26		49.58%	18.36%	31.22%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 6.23, 8.53 and 11.03. The corresponding 10 year ratios are 11.58, 13.61 and 15.64. The corresponding historical ratios are 6.70, 9.93 and 11.22. The current ratio is 14.31 based on a stock price of $27.17 and EPS estimate for 2024 of $1.90. The current 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/Adjusted Earnings per Share Ratios are 6.73, 9.07 and 11.02. The corresponding 10 year ratios are 8.87, 10.89 and 13.11. The current ratio is 13.65 based on a stock price of $27.17 and AEPS for 2024 of $1.99. 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 $18.18. The 10-year low, median, and high median Price/Graham Price Ratios are 1.08, 1.37 and 1.62. The current ratio is 1.49 based on a stock price of $27.17. The current 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 10-year median Price/Book Value per Share Ratio of 2.30. The current ratio is 3.68 based on a Book Value of $408.8M, Book Value per Share of $7.38 and a stock price of $27.17. The current ratio is 60% 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 6.65. The current ratio is 8.39 based on Cash Flow per Share estimate for 2024 of $3.24, Cash Flow of $179.4 and a stock price of $27.17. The current ratio is 26% 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 5.71%. The current dividend yield is 3.09% based on a stock price of $27.17 and Dividends of $0.84. The current ratio is 45% 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 5.38%. The current dividend yield is 3.09% based on a stock price of $27.17 and Dividends of $0.84. The current ratio is 43% below the 10 year median dividend yield. This stock price testing suggests that the stock price is relatively expensive.

The 10-year median Price/Sales (Revenue) Ratio is 0.23. The current ratio is 0.44 based on Revenue estimate for 2024 of $3,404M, Revenue per Share of $64.46 and a stock price of $27.17. The current ratio is 92% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive.

Results of stock price testing is that the stock price is probably expensive. Both dividend tests say this. The P/S Ratio test also says that the stock price is expensive. The rest of the testing is saying that the stock price is reasonable, but above the median or expensive.

When I look at analysts’ recommendations, I find Strong Buy (3), Buy (3) and Hold (2). The consensus would be a Buy. The 12 month stock price consensus is $35.38 with a high of $38.00 and low of $32.00. This consensus stock price of $35.38 implies a total return of 33.31% with 30.22% from capital gains and 3.09% from dividends.

Analysts on Stock Chase mainly like this stock. One analyst with a Hold rating says the stock has gone up a lot this year. Stock Chase gives this stock 3 stars out of 5. Adam Othman on Motley Fool says he is still bullish on this stock. Jitendra Parashar on Motley Fool says it is not too late to invest in this stock. The company put out a Press Release on their fourth quarter results for 2023. The company put out a Press Release about their third quarter of 2024.

Simply Wall Street via Yahoo Finance reviews this stock. Simply Wall Street has two warnings on this stock of dividend of 3.1% is not well covered by free cash flows; and shareholders have been diluted in the past year.

Bird Construction Inc is a construction company operating from coast-to-coast and servicing all of Canada's major markets. Its web site is here Bird Construction Inc.

The last stock I wrote about was about was Sienna Senior Living Inc (TSX-SIA, OTC-LWSCF) ... learn more. The next stock I will write about will be Element Fleet Management Corp (TSX-EFN, OTC-ELEEF) ... learn more on Monday, December 16, 2024 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.

Sienna Senior Living Inc

Sound bite for Twitter and StockTwits is: Dividend Paying Health Case. Results of stock price testing is that the stock price is the stock price is probably still reasonable. Debt Ratios need improving. The Dividend Payout Ratios (DPR) are passible. The current dividend yield is good with dividend growth stopped. See my spreadsheet on Sienna Senior Living Inc.

Is it a good company at a reasonable price? This would not be a stock I personally would pick. I do not like their debt level. I would rather have a lower yield and some dividend increases. A reason to buy would be for passive income. This stock is testing at a reasonable price.

I do not own this stock of Sienna Senior Living Inc (TSX-SIA, OTC-LWSCF). When I looked in Stock Chase about Chartwell, Greg Newman; Director & Portfolio Manager, Scotia Wealth Management said he liked Sienna Senior Living Better, so I investigated it.

When I was updating my spreadsheet, I noticed Liquidity Ratio has been awful. A Liquidity Ratio below 1.00 means that the company cannot cover current expenditures. Recently they have had an infusion of cash, but this seems to be because they sold more shares.

If you had invested in this company in December 2013, for $1,004.96 you would have bought 88 shares at $11.42 per share. In December 2023, after 10 years you would have received $807.31 in dividends. The stock would be worth $1,011.12. Your total return would have been $1,818.43. This would be a total return of 8.05% per year with 0.06% from capital gain and 7.98% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$11.42	$1,004.96	88	44	$807.31	$1,011.12	$1,818.43

The current dividend yield is good with dividend growth stopped. The current dividend yield is good (5% to 6% ranges) at 5.64%. The 5, 10 and historical median dividend yields are also good at 6.54%, 5.96% and 6.76%. They had increased the dividends occasionally in the past. However, there has been no increase since 2020. The 5 year dividend increase per year is just 0.65%.

The Dividend Payout Ratios (DPR) are passible. The DPR for 2023 for Earnings per Share (EPS) is far too high at 936% with 5 year coverage at 1561%. The DPR for 2023 for Adjusted Funds from Operations (AFFO) is fine at 91% with 5 year coverage at 87%. The DPR for 2023 for Funds from Operations (FFO) is fine at 83% with 5 year coverage at 84%. The DPR for 2023 for Cash Flow per Share (CFPS) is fine at 45% with 5 year coverage good at 37%. The DPR for 2023 for Free Cash Flow (FCF) is too high at 160% with 5 year coverage at 63%. There is no agreement on what the FCF is.

Item	Cur	5 Years
EPS	936.00%	1561.20%
AFFO	90.87%	86.50%
FFO	83.20%	83.93%
CFPS	44.93%	37.17%
FCF	159.55%	63.36%

Debt Ratios need improving. The Long Term Debt/Market Cap Ratio for 2023 is high at 0.90 and currently at 0.66. However, we need also to look at the Long Term Debt/Covering Assets Ratio for 2023 which is good at 0.72 and currently at 0.66 because this is a more important one for a Real Estate type company. The Liquidity Ratio for 2023 is awful at 0.12 and 0.43 currently. If you added in Cash Flow after dividends, the ratios are still awful at 0.32 and currently at 0.64. If you add back the current portion of the debt, they are still awful for 2023 at 0.65 and barely acceptable at 1.09 currently. Basically, current assets cannot cover current liabilities.

The Debt Ratio for 2023 is too low at 1.28 and 1.35 currently. I prefer them to be 1.50 or higher. The Leverage and Debt/Equity Ratios for 2023 are far too high at 4.54 and 3.54 and currently at 3.89 and 2.89. These ratios should be below 3.00 and 2.00.

Type	Year End	Ratio Curr
Lg Term R	0.90	0.66
Lg Term R A	0.72	0.66
Intang/GW	0.43	0.30
Liquidity	0.12	0.43
Liq. + CF	0.32	0.64
Liq. + CF +D	0.65	1.09
Debt Ratio	1.28	1.35
Leverage	4.54	3.89
D/E Ratio	3.54	2.89

The Total Return per year is shown below for years of 5 to 14 to the end of 2023. 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	0.65%	0.59%	-6.10%	6.70%
2013	10	0.39%	8.05%	0.06%	7.98%
2009	14	1.73%	9.90%	1.31%	8.59%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 71.54, 88.52 and 105.50. The corresponding 10 year ratios are 61.81, 69.97 and 78.13. The corresponding historical ratios are 39.91, 43.94 and 47.97. The current ratio is 31.32 based on a stock price of $16.60 and EPS estimate for 2024 of $0.53. 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 Funds from Operations (AFFO) data. The 5-year low, median, and high median Price/ Adjusted Funds from Operations Ratios are 11.26, 13.72 and 15.48. The corresponding 10 year ratios are 10.49, 11.93 and 12.97. The current ratio is 12.77 based on a stock price of $16.60 and AFFO estimate for 2024 of $1.30. The current ratio is between the median and high ratios of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable but above the median.

I also have Funds from Operations (FFO) data. The 5-year low, median, and high median Price/ Funds from Operations Ratios are 11.05, 13.05 and 14.69. The corresponding 10 year ratios are 11.13, 13.01 and 14.23. The current ratio is 11.45 based on a stock price of $16.60 and FFO estimate for 2024 of $1.45. The current ratio is between the low and median ratios of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I get a Graham Price of $14.82. The 10-year low, median, and high median Price/Graham Price Ratios are 0.97, 1.16 and 1.29. The current ratio is 1.12 based on a stock price of $16.60. 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 2.30. The current P/B Ratio is 2.47 based on a Book Value of $491M, Book Value per Share of $6.73 and a stock price of $16.60. The current ratio is 7% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable but above the median.

I get a 10-year median Price/Cash Flow per Share Ratio of 13.34. The current ratio is 7.39 based on Cash Flow for the last 12 months of $164M, Cash flow per share 2.25 and a stock price of $16.60. The current ratio is 45% 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 6.76%. The current dividend yield is 5.64% based on a stock price of $16.60 and dividends of $0.936. The current dividend yield is 17% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively reasonable but above the median. A problem with this test is that the stock is not a dividend growth stock.

I get a 10 year median dividend yield of 5.96%. The current dividend yield is 5.64% based on a stock price of $16.60 and dividends of $0.936. The current dividend yield is 5% below the 10 year median dividend yield. This stock price testing suggests that the stock price is relatively reasonable but above the median. A problem with this test is that the stock is not a dividend growth stock.

The 10-year median Price/Sales (Revenue) Ratio is 1.47. The current P/S Ratio is 1.38 based on Revenue estimate for 2024 of $880M, Revenue per Share of $12.06 and a stock price of $16.60. The current 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.

Results of stock price testing is that the stock price is the stock price is probably still reasonable. The dividend yield tests say that the stock price is reasonable but above the median. The P/S Ratio test says that the stock price is reasonable but below the median. Most of the rest of the testing is showing the stock price as reasonable and above or below the median.

When I look at analysts’ recommendations, I find Strong Buy (2), Buy (4) and Hold (2). The current consensus would be a Buy. The 12 month stock price consensus is $18.94 with a high of 20.00 and low of $18.00. The consensus stock price of $18.94 implies a total return of 19.73% with 14.10% from capital gains and 5.64% from dividends.

Analysts on Stock Chase for 2024 give two Do Not Buy, one Hold and one Buy. Worries are there is not much room for capital gains for the future and labour costs are going to be higher in the future. Stock Chase gives this stock 3 stars out of 5. Amy Legate-Wolfe on Motley Fool says to buy for passive income. Jitendra Parashar on Motley Fool says buy for stable monthly income. The company put out a press release via The Canadian Press about their fourth quarter of 2024. The company put out a press release via The Canadian Press about their third quarter of 2024.

Simply Wall Street via Yahoo Finance put out a report on this company and its dividends. Simply Wall Street has 3 warnings on this stock of interest payments are not well covered by earnings; dividend of 5.64% is not well covered by earnings or free cash flows; and shareholders have been diluted in the past year. Simply Wall Street gives this stock one and one half stars out of 5.

Sienna Senior Living Inc is an owner of seniors' housing, a licensed long-term care operator in Ontario, and a provider of services across the full continuum of care. The firm operates solely within Canada. Its web site is here Sienna Senior Living Inc.

The last stock I wrote about was about was Chartwell Retirement Residences (TSX-CSH.UN, OTC-CWSRF) ... learn more. The next stock I will write about will be Bird Construction Inc (TSX-BDT, OTC-BIRDF) ... learn more on Friday, December 13, 2024 around 5 pm. Tomorrow on my other blog I will write about Robin E. Speziale .... learn more on Thursday, December 12, 2024 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.

Chartwell Retirement Residences

Sound bite for Twitter and StockTwits is: Dividend Paying Health Case. Results of stock price testing is that the stock price is probably expensive. Debt Ratios could stand with improvement. The Dividend Payout Ratios (DPR) are too high. The current dividend yield is moderate with dividend growth is currently non-existent. See my spreadsheet on Chartwell Retirement Residences.

Is it a good company at a reasonable price? I do not like to debt ratios. That is one reason I would personally not buy this stock. I prefer stocks with low yield and good increases. This stock has a high yield and low increases and they have currently stopped increasing the dividends. It is never a good sign when dividend increase stop. A reason to buy is for passive income. I know the analyst’s recommendation is a Buy, but generally speaking, analysts’ recommendations are always a buy. My stock price testing is showing the stock as relatively expensive.

I do not own this stock of Chartwell Retirement Residences (TSX-CSH.UN, OTC-CWSRF). I saw this stock on a dividend investing blog and looked it up on Stock Chase.

When I was updating my spreadsheet, I noticed that this stock has not increased its dividends for the past 5 years. This is never a good sign. Analysts do not see any increases in the near future.

If you had invested in this company in December 2013, for $1,008.80 you would have bought 104 shares at $9.70 per share. In December 2023, after 10 years you would have received $608.03 in dividends. The stock would be worth $1,218.88. Your total return would have been $1,826.91. This would be a total return of 7.45% per year with 1.91% from capital gain and 5.54% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$9.70	$1,008.80	104	10	$608.03	$1,218.88	$1,826.91

The current dividend yield is moderate with dividend growth is currently non-existent. The current dividend yield is moderate (2% to 4% ranges) at 3.79%. The 5 year and historical median dividend yields are good (5% to 6% ranges) at 5.70% and 5.82%. The 10 year median dividend yield is moderate at 4.80%. The dividend growth over the past 5 years is low (below 8%) at just 0.91%. Dividends have not increased since 2020.

The Dividend Payout Ratios (DPR) are too high. The DPR for 2023 for Earnings per Share (EPS) is far too high at 114% with 5 year coverage at 351%. The DPR for 2023 for Adjusted Funds from Operations (AFFO) is too high at 125% with 5 year coverage at 100%. The DPR for 2023 for Funds from Operations (FFO) is too high at 111% with 5 year coverage is fine at 91%. The DPR for 2023 for Cash Flow per Share (CFPS) is too high at 70% with 5 year coverage at 57%. The DPR for 2023 for Free Cash Flow (FCF) is too high at 482% with 5 year coverage at 796%. There is no agreement on what FCF is.

Item	Cur	5 Years
EPS	113.95%	351.11%
AFFO	124.90%	100.07%
FFO	111.27%	90.81%
CFPS	69.52%	56.88%
FCF	482.02%	796.13%

Debt Ratios could stand with improvement. The Long Term Debt/Covering Assets Ratio for 2023 is good at 0.44 and currently at 0.43. The Liquidity Ratio for 2023 is awful at 0.45 and 0.38 currently. If you added in Cash Flow after dividends, the ratios are still awful at 0.58 and currently at 0.59. If you added back the current portion of the long term debt, it is barely acceptable at 1.29 and currently at 1.31. The Debt Ratio for 2023 is low at 1.32 and 1.40currently. The Leverage and Debt/Equity Ratios for 2023 are too high at 4.09 and 3.09 and currently at 3.50 and 2.50.

Type	Year End	Ratio Curr
Lg Term R	0.56	0.46
Lg Term R A	0.44	0.43
Intang/GW	0.01	0.01
Liquidity	0.45	0.38
Liq. + CF	0.58	0.59
Liq. + CF+D	1.29	1.31
Debt Ratio	1.32	1.40
Leverage	4.09	3.50
D/E Ratio	3.09	2.50

The Total Return per year is shown below for years of 5 to 20 to the end of 2023. 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	0.91%	1.69%	-3.03%	4.72%
2013	10	1.26%	7.45%	1.91%	5.54%
2008	15	-1.94%	13.82%	5.51%	8.31%
2003	20	-2.91%	5.91%	-0.22%	6.13%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 98.85, 153.81 and 208.77. The corresponding 10 year ratios are 154.80, 172.18 and 200.59. The corresponding historical ratios are 6.12, 5.73 and 6.25. The current ratio is 134.50 based on a stock price of $16.14 and EPS estimate for 2024 of $0.12. This ratio is below the low ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively cheap. The 5 and 10 year ratios are very high because of low positive earnings. The historical ones are very low because there were lots of years of negative ratios due to earnings losses. Not a good test of anything.

I have Adjusted Funds from Operations (AFFO) data. The 5-year low, median, and high median Price/ Adjusted Funds from Operations Ratios are 16.32, 20.35 and 23.92. The corresponding 10 year ratios are 15.95, 17.38 and 19.09. The current P/AFFO ratio is 23.39 based on a stock price of $16.14 and AFFO estimate for 2024 of 0.69. 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 have Funds from Operations (AFFO) data. The 5-year low, median, and high median Price/ Funds from Operations Ratios are 14.95, 18.13 and 21.31. The corresponding 10 year ratios are 14.71, 16.28 and 17.92. The current P/FFO ratio is 21.81 based on a stock price of $16.14 and FFO estimate for 2024 of 0.74. 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 $8.63. The 10-year low, median, and high median Price/Graham Price Ratios are 1.35, 1.57 and 1.75. The current ratio is 1.87 based on a stock price of $16.14. The current ratio is above the high ratio of the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive.

I get a 10-year median Price/Book Value per Share Ratio of 3.20. The current ratio is 3.61 based on a stock price of $16.14, Book Value of $1,068M and Book Value per Share of $4.47. 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 get a 10-year median Price/Cash Flow per Share Ratio of 16.42. The current ratio is 18.98 based on Cash Flow for the last 12 months of $203M, Cash Flow per Share of $0.85 and a stock price of $16.14. The current ratio is 16% 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 5.82%. The current dividend yield is 3.79% based on dividends of $0.612 and a stock price of $16.14. The current dividend is 35% 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 4.80%. The current dividend yield is 3.79% based on dividends of $0.612 and a stock price of $16.14. The current dividend is 20.9% 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 3.33. The current P/S Ratio is 4.08 based on Revenue estimate for 2024 of $944M, Revenue per Share of $3.95 and a stock price of $16.14. The current ratio is 22% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive.

Results of stock price testing is that the stock price is probably expensive. The dividend yields tests say this. It is confirmed by the P/S Ratio test. Most of the other tests are saying the same thing.

When I look at analysts’ recommendations, I find Strong Buy (3), Buy (4). The consensus is a Strong Buy. The 12 months stock price is $18.14 with a high of $19.00 and low of $17.00. The consensus stock price of $18.14 implies a total return of 16.18% with 12.39% from capital gains and 3.79% from dividends.

Lots of analysts in 2024 on Stock Chase like this stock and say it is a buy. However, there are some Holds and a couple of Do Not Buys. Stock Chase gives this stock 5 stars out of 5. Amy Legate-Wolfe on Motley Fool thinks you should buy for passive income. Chris MacDonald on Motley Fool thinks you should buy because of massive demand for Senior Housing. The company put out a press release on Newswire about their fourth quarter of 2023. The company put out a press release via Newswire about their third quarter of 2024.

Simply Wall Street via Yahoo Finance reviews this stock. They give 4 warnings of interest payments are not well covered by earnings; significant insider selling over the past 3 months; shareholders have been diluted in the past year; and dividend of 3.78% is not well covered by earnings. Simply Wall Street gives this stock 2 and one half stars out of 5.

Chartwell Retirement Residences is an unincorporated open-ended real estate trust that is engaged in the ownership, operations, and management of retirement residences and long-term care homes in Canada. The company generates key revenue from retirement operations which include retirement residences that the company owns and operates in Canada. The retirement residences provide services to residents at rates set by Chartwell based on the services provided and market conditions. Its web site is here Chartwell Retirement Residences.

The last stock I wrote about was about was Richards Packaging Income Fund (TSX-RPI.UN, OTC-RPKIF) ... learn more. The next stock I will write about will be Sienna Senior Living Inc (TSX-SIA, OTC-LWSCF) ... learn more on Tuesday, December 11, 2024 around 5 pm. Tomorrow on my other blog I will write about Best Charities in Canada for 2024.... learn more on Tuesday, December 10, 2024 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.

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