RB Global Inc

Sound bite for Twitter and StockTwits is: Dividend Growth Industrial. Debt Ratios are fine. The Dividend Payout Ratios (DPR) are mostly good. The current dividend yield is low with dividend growth moderate. See my spreadsheet on RB Global Inc.

Is it a good company at a reasonable price? The only entry on Stock Chase for 2024 said that the CEO left in a huff over compensation and that the stock was going nowhere. See Newswire announcement that the CEO did leave because of compensation. If you look at the price of the stock in 2023, it $88.67 CDN$, and at the end of $2020 it Was 88.48 CDN$. However, the stock is up 12% year to date and currently at $99.06 CDN$. This stock is covered in a number of recent reports from Simply Wall Street and these reports are positive. It has certainly done well for its shareholders over the past 25 years. So it does look like a good dividend stock.

I do not own this stock of RB Global Inc (TSX-RBA, NYSE-RBA). This was a stock suggestion I got and also it was a dividend growth stock found in the Canadian All Star List. See site.

When I was updating my spreadsheet, I noticed that they have made an acquisition. See news item on RB Global Inc.

In the chart below, I am showing 5 and 10 year total growth and per year growth in columns 3 and 4. Column 5 shows growth expected over 12 months to the first quarter in 2024 and expected growth over the next year. Chart show that growth has been quite good over the past 5 and 10 years. Growth to the end of this year looks reasonable. Dividend growth has been low than Revenue and AEPS.

Yr	Item	Tot. Growth	Per Year	Gwth	Coverage
5	Revenue Growth US$	214.49%	25.75%	-42.86%	<-12 mths
5	AEPS Growth	176.85%	22.59%	14.38%	<-12 mths
5	Net Income Growth	43.45%	7.48%	75.50%	<-12 mths
5	Cash Flow Growth	277.04%	30.40%	33.47%	<-12 mths
5	Dividend Growth	54.29%	9.06%	0.00%	<-12 mths
5	Stock Price Growth	103.19%	15.23%	8.69%	<-12 mths
10	Revenue Growth US$	687.24%	22.92%	15.72%	<-this year
10	AEPS Growth	255.95%	13.54%	8.36%	<-this year
10	Net Income Growth	85.35%	6.36%	183.50%	<-this year
10	Cash Flow Growth	187.65%	11.14%	70.11%	<-this year
10	Dividend Growth	113.86%	7.90%	4.17%	<-this year
10	Stock Price Growth	191.71%	11.30%	8.69%	<-this year

If you had invested in this company in December 2013, for $1,023.12 you would have bought 42 shares at $24.36 per share. In December 2023, after 10 years you would have received $489.94 in dividends. The stock would be worth $3,724.14. Your total return would have been $4,214.08. This would be a total return of 16.29% per year with 13.79% from capital gain and 2.50% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$24.36	$1,023.12	42	10	$489.94	$3,724.14	$4,214.08

The current dividend yield is low with dividend growth moderate. The current dividend yield is low (below 2%) at 1.47%. The 5 year and historical median dividend yields are also low at 1.69% and 1.81%. The 10 year median dividend yield is moderate (2% to 4% ranges) at 2.01%.

The Dividend Payout Ratios (DPR) are mostly good. The DPR for 2023 for Earnings per Share (EPS) is too high at 104% with 5 year coverage fine at 70%. The DPR for 2023 for Adjusted Earnings per Share (AEPS) is good at 36% with 5 year coverage at 47%. The DPR for 2023 for Cash Flow per Share (CFPS) is too high at 57% with 5 year coverage good at 41%. The DPR for 2023 for Free Cash Flow (FCF) is good at 46% with 5 year coverage at 33%.

Item	Cur	5 Years
EPS	103.85%	70.34%
AEPS	36.12%	46.97%
CFPS	57.43%	40.48%
FCF	46.33%	32.81%

Debt Ratios are fine. The Long Term Debt/Market Cap Ratio for 2023 is good at 0.25 and currently at 0.22. The Liquidity Ratio for 2023 is low at 1.35 and 1.29 currently. If you added in Cash Flow after dividends, the ratios are fine at 1.53 and currently at 1.78. The Debt Ratio for 2023 is good at 1.84 and 1.86 currently. The Leverage and Debt/Equity Ratios for 2023 are fine at 2.40 and 1.30 and currently at 2.38 and 1.38.

Type	Year End	Ratio Curr
Lg Term	0.25	0.22
Intang/GW	0.61	0.55
Liquidity	1.35	1.29
Liq. + CF	1.65	1.78
Debt Ratio	1.84	1.86
Leverage	2.40	2.38
D/E Ratio	1.30	1.28

The Total Return per year is shown below for years of 5 to 25 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	9.06%	17.11%	14.70%	2.41%
2013	10	7.90%	16.29%	13.79%	2.50%
2008	15	2.05%	10.20%	8.45%	1.75%
2003	20	12.63%	12.80%	10.78%	2.02%
1998	25		12.36%	10.77%	1.58%

The Total Return per year is shown below for years of 5 to 25 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	9.06%	17.71%	15.23%	2.48%
2013	10	7.90%	13.54%	11.30%	2.24%
2008	15	2.05%	9.73%	7.89%	1.85%
2003	20	12.63%	12.88%	10.64%	2.24%
1998	25		13.29%	11.41%	1.88%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 24.66, 35.06 and 50.14. The corresponding 10 year ratios are 24.98, 32.18 and 39.53. The corresponding historical ratios are 22.46, 28.43 and 32.45. The current P/E Ratio is 31.53 based on a stock price of $99.06 and EPS estimate for 2024 of $3.14 ($2.30 US$). 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. The ratios are quite high. This testing is in CDN$.

I have Adjusted Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Earnings per Share Ratios are 19.71, 29.36 and 33.51. The corresponding 10 year ratios are 20.95, 28.15 and 33.67. The current P/AEPS Ratio is 22.36 based on a stock price of $99.06 and AEPS estimate for 2024 of $4.43 ($3.24 US$). 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. The ratios are quite high. This testing is in CDN$.

I get a Graham Price of $44.85. The 10-year low, median, and high median Price/Graham Price Ratios are 1.93, 2.44 and 2.86. The current P/GP Ratio is 1.62 based on a stock price of $72.70. The current ratio is below the low ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively cheap. These ratios are also quite high. This testing is in US$.

I get a 10-year median Price/Book Value per Share Ratio of 4.56. The current P/B Ratio is 2.63 based on a stock price of $72.70, Book Value of $5,066M, and Book Value per Share of $27.59. The current ratio is 42% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap. These ratios are also quite high. This testing is in US$. You will get a similar result in CDN$.

I get a 10-year median Price/Cash Flow per Share Ratio of 19.24. The current P/C Ratio is 14.42 based on Cash Flow per Share estimate for 2024 of $5.04, Cash Flow of $925M and a stock price $72.70. The current ratio is 25% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap. This testing is in US$. You will get a similar result in CDN$.

I get an historical median dividend yield of 1.81%. The current dividend yield is 1.49% based on dividends of $1.08 and a stock price of $72.70. The current dividend yield is 18% below the historical median dividend yield. This stock price testing suggests that the stock price is relatively reasonable but above the median. This testing is in US$, but you will get similar results in CDN$.

I get a 10 year median dividend yield of 2.01%. The current dividend yield is 1.49% based on dividends of $1.08 and a stock price of $72.70. The current dividend yield is 26% below the historical median dividend yield. This stock price testing suggests that the stock price is relatively expensive. This testing is in US$, but you will get similar results in CDN$.

The 10-year median Price/Sales (Revenue) Ratio is 4.49. The current P/S Ratio is 3.13 based on Revenue estimate for 2024 of $4,258M, Revenue per Share of $23.19 and a stock price of $72.70. The current ratio is 30% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap. This testing is in US$, but you will get similar results in CDN$.

Results of stock price testing is that the stock price maybe relatively expensive, but could be reasonable. The dividend yield testing is showing the stock price as expensive, but the P/S Ratio testing is showing the stock price as cheap. A lot of the testing is showing the stock price as relatively cheap. Problem seems that the dividends are not growing as fast as the company.

When I look at analysts’ recommendations, I find Strong Buy (2), Buy (5), Hold (1), Underperform (1). The consensus would be a Buy. There are a lot of recommendations considering there is not much coverage of this stock by analysts on Stock Chase nor Motley Fool, although Simply Wall Street has several recent reports. The 12 month stock price consensus is $110.45 ($80.78 US$) with a high of $129.89 ($95.00 US$) and low of $77.97 ($57.00 US$). The stock price consensus of $110.45 implies a total return of 12.99% with 11.50% from capital gains and 1.49% from dividends.

It is not well followed on Stock Chase and the only entry for 2024 is Do Not Buy. Analyst says stock is going nowhere and CEO has left in a huff. Stock Chase gives this stock 3 stars out of 5. Aditya Raghunath on Motley Fool thought this stock was a buy in 2023. Daniel Da Costa on Motley Fool also liked this stock in 2023. This stock is not well followed in Motley Fool either. The company put out a press release via Newswire about their fourth quarter results for 2023. The company put out a press release via Newswire about their first quarter of 2024 results.

Simply Wall Street via Yahoo Finance put out an article on this stock recently. Simply Wall Street gives this stock 3 and one half stars. They give out two warnings of significant insider selling over the past 3 months; and has a high level of debt.

RB Global operates the world's largest auction for heavy equipment. The company started as a live auctioneer of industrial equipment; since then, it has greatly expanded its operations to include the sale of construction, agricultural, oilfield, and transportation equipment. RB Global operates over 40 live auction sites in more than 12 countries, along with online marketplaces, including IronPlanet, Marketplace-E, and GovPlanet. Its web site is here RB Global Inc.

The last stock I wrote about was about was Reitmans (Canada) Ltd (TSX-RET.A, OTC-RTMAF) ... learn more. The next stock I will write about will be IA Financial Corp (TSX-IAG, OTC-IDLLF) ... learn more on Monday, June 3, 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.

Also, on my book blog I have put a review of the book The Dawn of Everything learn more...

Reitmans (Canada) Ltd

Sound bite for Twitter and StockTwits is: Consumer Discretionary Stock. Debt Ratios are good. Results of stock price testing is that the stock price is probably cheap. This company no longer pays dividends, so there is no dividend yield or Dividend Payout Ratios. See my spreadsheet on Reitmans (Canada) Ltd.

Is it a good company at a reasonable price? This stock price testing says that the stock price is cheap. However, a cheap stock is not always a good buy. This company is looking like it is trying to come back. I hope it succeeds, but it is hard to tell whether or not it will. I am no longer interested in having shares in this company, but I keep track of it because I am interested to see if it can come back.

I do not own this stock of Reitmans (Canada) Ltd (TSXV-RET.A, OTC-RTMAF), but I used to. I bought this company in September 2013. It was in financial difficulties and so was quite cheap. I believed it would recover, but it is taking too long. I sold in January 2021 and I lost money on this stock but did collect some dividends.

When I was updating my spreadsheet, I noticed that the investment community has lost all interest in this stock. I cannot find any estimates on any of the sites that normally carry them.

If you had invested in this company in December 2013, for $1,006.40 you would have bought 148 shares at $6.80 per share. In December 2023, after 10 years you would have received $170.20 in dividends. The stock would be worth $347.80. Your total return would have been $518.00. This would be a total loss of 7.76% per year with 9.00% from capital loss and 2.32% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$6.80	$1,006.40	148	10	$170.20	$347.80	$518.00

This company no longer pays dividends, so there is no dividend yield or Dividend Payout Ratios.

Debt Ratios are good. The Long Term Debt/Market Cap Ratio for 2023 is good at 0.00 and currently at 0.00. The Liquidity Ratio for 2023 is good at 2.46 and 2.46 currently. The Debt Ratio for 2023 is good at 2.32 and 2.32 currently. The Leverage and Debt/Equity Ratios for 2023 are good at 1.76 and 0.76.

Type	Year End	Ratio Curr
Lg Term	0.00	0.00
Intang/GW	0.01	0.01
Liquidity	2.46	2.46
Liq. + CF	3.13	3.13
Debt Ratio	2.32	2.32
Leverage	1.76	1.76
D/E Ratio	0.76	0.76

The Total Return per year is shown below for years of 5 to 36 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%	-9.00%	-9.77%	0.78%
2013	10	0.00%	-7.76%	-10.08%	2.32%
2008	15	0.00%	-5.38%	-10.12%	4.75%
2003	20	0.00%	4.63%	-4.87%	9.51%
1998	25	0.00%	12.34%	-0.10%	12.44%
1993	30	0.00%	7.81%	-0.68%	8.48%
1988	35	0.00%	7.94%	0.20%	7.74%
1987	36	0.00%	7.93%	0.33%	7.61%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 0.05, 0.37 and 0.69. The corresponding 10 year ratios are 0.27, 0.87 and 1.46. The corresponding historical ratios are 9.72, 12.28 and 15.30. The current P/E Ratio is 7.83 based on a stock price of $2.35 and EPS for last 12 months of $0.30. The ratios are extremely low because of earning losses. The current ratio of 7.83 is considered low, as generally any ratio under 10.00 is considered low. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I also have Adjusted Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Adjusted Earnings per Share Ratios are 0.06, 0.41 and 0.77. The corresponding 10 year ratios are 0.28, 0.89 and 1.50. The current P/AEPS is 7.87 based on a stock price of $2.35 and AEPS for last 12 months of 0.30. Here again the ratios are extremely low and 7.87 is a low ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median.

This stock price testing suggests that the stock price is relatively reasonable and below the median.

I get a Graham Price of $6.18. The 10-year low, median, and high median Price/Graham Price Ratios are 0.52, 1.10 and 1.31. The current P/GP Ratio is 0.38 based on a stock price of $2.35. This ratio is below the low ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I get a 10-year median Price/Book Value per Share Ratio of 0.83. The current P/B Ratio is 0.42 based on a Book Value of $279M, Book Value per Share of $5.66 and a stock price of $2.35. The current P/B Ratio is 50% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

I get a 10-year median Price/Cash Flow per Share Ratio of 4.42. The current P/CF Ratio is 1.66 based on Cash Flow for the last 12 months of $69.8M, Cash Flow per Share of $1.42 and a stock price of $2.35. The current ratio is 62% below the 10 year median ratio. This stock price testing suggests that the stock price is cheap.

I cannot do any dividend yield tests as dividends have been suspended.

The 10-year median Price/Sales (Revenue) Ratio is 0.23. The current P/S Ratio is 0.15 based on Revenue for the past 12 months of $795M, Revenue per Share of $16.12 and a stock price of $2.35. The current ratio is 37% 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 P/S Ratio test says this. The P/E Ratio and P/AEPS Ratio tests show very low ratios which could be taken as the stock price being cheap. The rest of the testing is pointing to a cheap price.

When I look at analysts’ recommendations, I find that only that the WSJ site has any Analysts Ratings and that rating is a Hold (1). The consensus would be a Hold. WSJ also gives a stock price target of $5.00. This would imply a total return of 112.77% all from capital gains. There seems to be little interest in this company from analysts.

There are no Stock Chase comments on this stock since 2019 when it was a TSX stock rather than a TSXV stock. Stock Chase gives this stock 1 star out of 5. Motley Fool authors have not talked about this stock since 2014. The company put out a press release via newswire about their fourth quarter in 2024.

Simply Wall Street gives this stock 2 and one half stars out of 5. There is an entry on Simply Wall Street for this stock. Simply Wall Street has two warnings of profit margins (1.9%) are lower than last year (9.6%); and does not have a meaningful market cap (CA$91M). The last time Simply Wall Street put out a report on this stock was 2019.

Reitmans (Canada) Ltd is an apparel retailer based in Canada. Its main business is the sale of ladies' specialty apparel to consumers. The group offers its products through the retail banners of Reitmans, Penningtons, and RW & CO. The Company's operating segments, operate in the women apparel business, in Canada. Its web site is here Reitmans (Canada) Ltd.

The last stock I wrote about was about was HLS Therapeutics Inc (TSX-HLS, OTC-HLTRF) ... learn more. The next stock I will write about will be RB Global Inc (TSX-RBA, NYSE-RBA) ... learn more on Friday, May 29, 2024 around 5 pm. Tomorrow on my other blog I will write about Dividend Growth Investing and Retirement Blogger.... learn more on Thursday, May 30, 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.

HLS Therapeutics Inc

Sound bite for Twitter and StockTwits is: Health Case Consumer stock. Results of stock price testing is that the stock price is probably cheap. The company cancelled the dividend in 2023. Debt Ratios fine, but Intangible Assets and Goodwill are rather high. See my spreadsheet on HLS Therapeutics Inc.

Is it a good company at a reasonable price? I plan to hold on to the shares that I have currently. I have no plans to buy any more. I do not have much money to spend on shares. The testing I could do is showing the stock price as relatively cheap.

I own this stock of HLS Therapeutics Inc (TSX-HLS, OTC-HLTRF). I got this stock because it did a reverse takeover of Automodular Corp (TSX-AM, OTC-AMZKF) on March 12, 2018. I bought some stock in 2018, 2020 and 2023 because this is a Health Care sector stock and there are few of them in the Canadian market.

When I was updating my spreadsheet, I noticed insiders who are staff are buying shares in this company. Few of the directors have shares, with main exception being chairman. Two other directors have shares, but the rest do not. They just got a new Chairman and he just bought shares.

I have not done well with this stock. I have a loss of 25.39% per year with a capital loss of 27.08% and dividends of 1.69%.

If you had invested in this company in December 2013, for $1,008.99 you would have bought 88 shares at $11.47 per share. In December 2023, after 10 years you would have received $83.60 in dividends. The stock would be worth $371.28. Your total return would have been $454.88. This would be a total loss of 10.58% per year with 12.47% from capital loss and 1.89% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$11.47	$1,008.99	88	8	$83.60	$371.28	$454.88

The dividends have been suspended, so there is no current yield for testing purposes nor can I look at Dividend Payout Ratios (DPR).

Debt Ratios fine, but Intangible Assets and Goodwill are rather high. The Long Term Debt/Market Cap Ratio for 2023 is fine at 0.83 and currently at 0.88. The Intangible Assets and Goodwill Ratios are too high at 1.59 and currently at 1.65. These should certainly be below 1.00. When these items get too high, a company might just write them off. The Liquidity Ratio for 2023 is good at 1.65 and 1.56 currently. The Debt Ratio for 2023 is good at 1.80 and 1.82 currently. The Leverage and Debt/Equity Ratios for 2023 are fine at 2.25 and 1.25 and currently at 2.22 and 2.22.

Type	Year End	Ratio Curr
Lg Term	0.83	0.88
Intang/GW	1.59	1.65
Liquidity	1.65	1.56
Liq. + CF	2.15	2.04
Debt Ratio	1.80	1.82
Leverage	2.25	2.22
D/E Ratio	1.25	1.22

The Total Return per year is shown below for years of 5 to 8 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	-12.94%	-20.99%	-23.06%	2.07%
2015	8		-10.58%	-12.47%	1.89%

The 5-year low, median, and high median Price/Earnings per Share Ratios are negative and so useless. The corresponding 8 and historical P/E Ratios are also negative and useless. I cannot do any P/E Ratio testing.

I cannot do any Graham Price testing because of earning losses.

I get a 10-year median Price/Book Value per Share Ratio of 1.77. The current P/B Ratio is 1.05 based on Book Value of $89.1M, Book Value per Share of $2.79 and stock price of $3.72. The current P/B Ratio is 41% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap

I also have Book Value per Share estimate for 2024 of $2.54. This implies a book Value of $81.2M and a P/B Ratio of 1.15 based on a stock price of $3.72. This ratio is 35% below the 10 year median ratio of $1.77. 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 13.85. The current P/CF Ratio is 6.96 based on Cash Flow for the last 12 months of $17.08M ($12.5M US$), Cash Flow per Share of $0.53 and a stock price of $3.72. The current ratio is 50% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

I cannot do any dividend yield testing because the dividends have been discontinued.

The 10-year median Price/Sales (Revenue) Ratio is 4.71. The current P/S Ratio is 1.50 based on a stock price of $3.72, Revenue estimate for 2024 of $79M ($58M US$), and Revenue per Share of $2.47. The current ratio is 68% 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. What testing I can do is pointing to a relatively cheap price. The P/S Ratio testing is saying this also. I did the testing in CDN$ because this stock is not much traded in US$ even though the reporting is in US$.

When I look at analysts’ recommendations, I find Strong Buy (1), and Hold (3). The consensus would be a Buy. The 12 months stock price consensus is $5.31 ($3.885 US$) with a high of $9.51 ($6.953 US$) and low of $3.75 ($2.74 US$). The consensus stock price of $5.31 implies a total return of $42.79%, all from capital gains.

There are no entries on Stock Chase for this company. Adam Othman on Motley Fool look at this stock in 2023. Christopher Liew ion Motley Fool liked this stock in 2022 because it paid a dividend. The company put out a Press Release about their fourth quarter of 2023. The company put out a Press Release about their results for the first quarter of 2024.

Simply Wall Street via Yahoo Finance put out a report on this stock and says it might be undervalued. Simply Wall Street has 2 warnings of currently unprofitable and not forecast to become profitable over the next 3 years; and does not have a meaningful market cap (CA$124M). Simply Wall Street gives this stock 1 and one half star out of 5.

HLS Therapeutics Inc is a specialty pharmaceutical company. It is focused on the acquisition and commercialization of branded pharmaceutical products in the North American markets. The company products include Clozaril, Vascepa, CSAN Pronto, and others. The company earns revenue in the form of product sales and royalties, out of which product sales contribute to the majority of the revenue. The company operates in Canada, and the United States, and the Rest of the world. Its web site is here HLS Therapeutics Inc.

The last stock I wrote about was about was Pizza Pizza Royalty Corp (TSX-PZA, OTC-PZRIF) ... more. The next stock I will write about will be Reitmans (Canada) Ltd (TSX-RET.A, OTC-RTMAF) ... learn more on Wednesday, May 29, 2024 around 5 pm. Tomorrow on my other blog I will write about TD Bank.... learn more on Tuesday, May 28, 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.

Pizza Pizza Royalty Corp

Sound bite for Twitter and StockTwits is: Dividend Growth Consumer. Results of stock price testing is that the stock price is probably reasonable. Debt Ratios are good for Pizza Pizza Royality Corp. Debt Ratios are good for Pizza Pizza Ltd are not good, especially the Liquidity Ratios. The Dividend Payout Ratios (DPR) are high, but that is basically what they earn money to do, pay dividends. The current dividend yield is high with dividend growth low. Dividends have fluctuation on this stock. See my spreadsheet on Pizza Pizza Royalty Corp.

Is it a good company at a reasonable price? I do not like the balance sheet for Pizza Pizza Ltd, but the companies are very intertwined, so that the financials could be fine. This stock has never been well followed as I could only ever find one analyst recommendations and that recommendation is a Hold and I can see why. It is one of the few stocks left with monthly dividends and this can be attractive to some investors. The stock price is testing as reasonable.

I do not own this stock of Pizza Pizza Royalty Corp (TSX-PZA, OTC-PZRIF). A number of people have recommended this stock, so I decided to take a look at it. It was on once on John Heinzl's Dividend Hog Portfolio, but has been taken off.

When I was updating my spreadsheet, I noticed what I do not like about this company is the complexity. I must look at both the Pizza Pizza Royalty Corp (PPRC) and Pizza Pizza Limited (PPL). The Pizza Pizza Royalty Corp (PPRC) is the one on the stock market. When you have a great deal of complexity, it is much easier to miss things. It is also easier for the company to do things that you may not like, and it is easy for you to miss something that might be important.

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 $613.07 in dividends. The stock would be worth $1,118.72. Your total return would have been $1,118.72. This would be a total return of 6.86% per year with 1.02% from capital gain and 5.84% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$13.30	$1,010.80	76	10	$613.07	$1,118.72	$1,731.79

The current dividend yield is high with dividend growth low. The current dividend yield is high (7% and above) at 7.02%. The 5 and 10 year median dividend yields are good (5% to 6% ranges) at 6.45% and 6.15%. The historical median dividend yield is high at 7.18%. The dividend growth is low (below 8% per year) at 0.6% per year over the past 5 years.

Dividends have fluctuation on this stock. Over the past 17 years they have gone up 10 times and down 4 times. Dividends were decreased in 2020, and then in 2022 and 2023 they were increased. The last dividend increase was in 2023 and it was for 3.3%. It is not on any of the dividend stock lists that I follow.

The Dividend Payout Ratios (DPR) are high, but that is basically what they earn money to do, pay dividends. The DPR for 2023 for Earnings per Share (EPS) is high at 92% with 5 year coverage at 93%. The DPR for 2023 for Adjusted Earnings per Share (AEPS) is high at 91% with 5 year coverage at 28%. The DPR for 2023 for Cash Flow per Share (CFPS) is high at 68% with 5 year coverage at 69%. The DPR for 2023 for Free Cash Flow (FCF) is good at 99% with 5 year coverage at 97%.

Item	Cur	5 Years
EPS	91.67%	93.48%
AEPS	89.89%	90.75%
CFPS	68.29%	69.42%
FCF	99.29%	96.86%

Debt Ratios are good for Pizza Pizza Royality Corp. The Long Term Debt/Market Cap Ratio for 2023 is good at 0.13 and currently at 0.14. The Liquidity Ratio for 2023 is good at 2.91 and 3.09 currently. The Debt Ratio for 2023 is good at 4.86 and 5.01 currently. The Leverage and Debt/Equity Ratios for 2023 are good at 1.77 and 0.36 and currently at 1.81 and 0.36.

Type	Year End	Ratio Curr
Lg Term	0.13	0.14
Intang/GW	0.98	1.12
Liquidity	2.91	3.09
Liq. + CF	5.16	5.65
Debt Ratio	4.86	5.01
Leverage	1.77	1.81
D/E Ratio	0.36	0.36

Debt Ratios are good for Pizza Pizza Ltd are not good, especially the Liquidity Ratios. The Long Term Debt/Market Cap Ratio for 2023 is high at 0.74 and currently at 0.73. The Liquidity Ratio for 2023 is awful at 0.70 and 0.65 currently. If you added in Cash Flow after dividends, the ratios are still awful at 0.96 and currently at 0.65. The Debt Ratio for 2023 is low at 1.24 and 1.24 currently. The Leverage and Debt/Equity Ratios for 2023 are not good at 2.98 and 2.52 and currently at 2.84 and 2.86.

Type	Year End	Ratio Curr
Lg Term	0.74	0.73
Intang/GW	0.00	0.00
Liquidity	0.70	0.65
Liq. + CF	0.76	0.65
Debt Ratio	1.24	1.25
Leverage	2.98	2.84
D/E Ratio	2.52	2.86

The Total Return per year is shown below for years of 5 to 18 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	0.56%	17.74%	10.46%	7.27%
2013	10	1.44%	6.86%	1.02%	5.84%
2008	15	-0.30%	16.16%	6.05%	10.12%
2005	18	0.78%	9.37%	2.17%	7.20%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 12.32, 14.36 and 16.02. The corresponding 10 year ratios are 13.52, 14.91 and 16.75. The corresponding historical ratios are 12.85, 14.83 and 16.57. The current P/E Ratio is 13.51 based on a stock price of $13.24 and EPS estimate for 2024 of $0.98. The current ratio is below the low ratio of the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

I also have Adjusted Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Adjusted Earnings per Share Ratios are 11.81, 13.76 and 15.71. The corresponding 10 year ratios are 13.21, 14.57 and 15.93. The current P/AEPS ratio is 13.24 based on a stock price of $13.24 and AEPS estimate for 2024 of $1.00. 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 $13.78. The 10-year low, median, and high median Price/Graham Price Ratios are 0.91, 1.01 and 1.11. The current P/GP Ratio is 0.96 based on a stock price of $13.24. 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 1.55. The current P/B Ratio is 1.57 based on a Book Value of $207.9M, Book Value per Share of $8.45 and a stock price of $13.24. The current ratio is 1.4% 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 11.09. The current P/CF Ratio is 10.27 based on Cash Flow for the last 12 months of $31.7M, Cash Flow per Share of $1.29 and a stock price of $13.24. The current ratio is 7% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I get an historical median dividend yield of 7.18%. The current dividend yield is 7.02% based on a stock price of $13.24 and dividends of $0.93. The current ratio is 2% 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 6.15%. The current dividend yield is 7.02% based on a stock price of $13.24 and dividends of $0.93. The current ratio is 14% 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 0.56. The current P/S Ratio is 0.50 based on Royality System Sales estimate for 2024 of $650M, Revenue per Share of $26.39 and a stock price of $13.24. The ratio is 10% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median.

Results of stock price testing is that the stock price is probably reasonable. The dividend yield tests are saying this. What I fine interesting is that the historical median dividend yield is higher than the current yield. However, dividends have been inconsistent, as they have gone down as well as up. The P/S Ratio testing is saying the stock price is reasonable. Most of the other testing is saying the same thing. The interesting thing about the P/E Ratio and P/AEPS Ratio tests is how close the low, median, and high ratios are.

When I look at analysts’ recommendations, I find a Hold (1) recommendation. This stock is not followed much. The consensus 12 month stock price $14.00, based on one value of $14.00. This implies a total return of 12.76% with 5.74% from capital gains and 7.02% from dividends.

There are two Buy recommendations on Stock Chase for this stock. The most recent one, says Buy on Weakness. Stock Chase gives this stock 4 stars out of 5. Rajiv Nanjapla on Motley Fool says this is a stock to help you earn monthly dividends. Joey Frenette on Motley Fool says this stock is great for passive income. The company put out a Press Release on their fourth quarter of 2023 results. The company via Newwsire put out a press release on their first quarter of 2024.

Simply Wall Street has no report out on this stock. Simply Wall Street gives this stock 3 and one half stars out of 5. They have one warning of dividend of 7.02% is not well covered by earnings or cash flows.

Pizza Pizza Royalty Corp through its subsidiary, Pizza Pizza Royalty Limited Partnership, owns and franchises quick-service restaurants under the Pizza Pizza and Pizza 73 brands. It receives the benefit of Pizza Pizza Royalty and Pizza 73 Royalty payable by PPL under the Pizza Pizza License and Royalty Agreement and the Pizza 73 License and Royalty Agreement, respectively, as well as royalty payments under the international agreement, indirectly through its interests in the partnership. Its web site is here Pizza Pizza Royalty Corp.

The last stock I wrote about was about was Canadian Utilities Ltd (TSX-CU, OTC-CDUAF) ... learn more. The next stock I will write about will be HLS Therapeutics Inc (TSX-HLS, OTC-HLTRF) ... learn more on Monday, May 27, 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.

Canadian Utilities Ltd

Sound bite for Twitter and StockTwits is: Dividend Growth Utility. Results of stock price testing is that the stock price is probably reasonable, but could be cheap. Debt Ratios show that the company has too much debt, but the Liquidity Ratio is fine. The Dividend Payout Ratios (DPR) are fine. The current dividend yield is good with dividend growth low. See my spreadsheet on Canadian Utilities Ltd .

Is it a good company at a reasonable price? No, I am not doing well with this stock at the moment, but to me, I am being given 5.7% return on my money as I wait for things to improve. It is a utility with a lot of debt and rising interest rates are causing problem. But I do not think that it will go bankrupt, so I will take my return and wait. The stock price is probably reasonable, but could be relatively cheap.

I own this stock of Canadian Utilities Ltd (TSX-CU, OTC-CDUAF). I started to follow this stock in January of 2009 because it was on the Dividend Achievers list, the Dividend Aristocrats list and was also on Mike Higgs’ dividend growth list at that time. The Dividend Aristocrats list is now an index on the TSX. ATCO (TSX-ACO-X) owns 88% of this stock, so you would not buy both these stocks.

When I was updating my spreadsheet, I noticed I seemed to have done very badly to date with this stock. I have had it for 7 years and I have a total return of 1.13% with a capital loss of 3.71% and dividends at 4.84%. This utility is not well followed, and Stock Chase analyst just say it is interest sensitive, but seem uncertain why the stock price is falling.

If you had invested in this company in December 2013, for $1,034.43 you would have bought 29 shares at $35.67 per share. In December 2023, after 10 years you would have received $444.16 in dividends. The stock would be worth $924.81. Your total return would have been $1,368.97. This would be a total return of 3.32% per year with 1.11% from capital loss and 4.43% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$35.67	$1,034.43	29	10	$444.16	$924.81	$1,368.97

The current dividend yield is good with dividend growth low. The current dividend yield is good (5% to 6% ranges) at 5.65%. The 5 year median dividend yield is also good at 5.10%. The 10 year and historical median dividend yields are moderate (2% to 4% ranges) at 4.73% and 3.84%. The dividend increases a low (below 8% per year) at 2.67% per year over the past 5 years. The last dividend increase was in 2024 and it was for 1%. The dividend increases hit a high of 10.31% in 2014 and have been decreasing since. The current This stock is on a couple of the dividend lists that I follow, but not on the Money Sense list since 2020.

The Dividend Payout Ratios (DPR) are fine. The DPR for 2023 for Earnings per Share (EPS) is fine at 77% with 5 year coverage at 86%. The DPR for 2023 for Adjusted Earnings per Share (AEPS) is fine at 81% with 5 year coverage at 80%. The DPR for 2023 for Cash Flow per Share (CFPS) is good at 28% with 5 year coverage at 27%. The DPR for 2023 for Free Cash Flow (FCF) is too high at 104% with 5 year coverage at fine at 87%. Utility stocks tend to have higher DPRs than other sector stocks.

Item	Cur	5 Years
EPS	77.01%	86.25%
AEPS	81.19%	80.01%
CFPS	27.76%	27.22%
FCF	103.85%	86.54%

Debt Ratios show that the company has too much debt, but the Liquidity Ratio is fine. The Long Term Debt/Market Cap Ratio for 2023 is too high at 1.16 and currently at 1.16. The Liquidity Ratio for 2023 is too low at 1.01 and 1.03 currently. If you added in Cash Flow after dividends, the ratios are fine at 1.92 and currently at 2.00. The Debt Ratio for 2023 is fine at 1.45 and 1.46 currently. The Leverage and Debt/Equity Ratios for 2023 are too high at 3.24 and 2.24 and currently at 3.19 and 2.19.

Type	Year End	Ratio Curr
Lg Term	1.16	1.16
Intan/GW	0.07	0.13
Liquidity	1.01	1.03
Liq. + CF	1.92	2.00
Debt Ratio	1.45	1.46
Leverage	3.24	3.19
D/E Ratio	2.24	2.19

The Total Return per year is shown below for years of 5 to 35 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	2.67%	5.91%	0.36%	5.55%
2013	10	6.34%	3.32%	-1.11%	4.43%
2008	15	6.84%	7.91%	3.07%	4.83%
2003	20	6.49%	8.80%	4.03%	4.77%
1998	25	6.08%	8.41%	3.99%	4.43%
1993	30	5.55%	10.87%	5.50%	5.37%
1988	35	4.96%	11.13%	5.49%	5.63%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 16.31, 18.21 and 20.12. The corresponding 10 year ratios are 15.61, 17.72 and 19.84. The corresponding historical ratios are 11.52, 13.30 and 15.55. The current P/E Ratio is 13.71 based on a stock price of $32.09 and EPS estimate for 2024 of 2.34. 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 13.82, 15.45 and 17.90. The corresponding 10 year ratios are 13.87, $16.00 and 18.09. The current ratio is 13.83 based on a stock price of $32.09 and AEPS estimate for 2024 of $2.32. The current ratio is below the low ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively cheap.

I get a Graham Price of $32.40. The 10-year low, median, and high median Price/Graham Price Ratios are 1.01, 1.16 and 1.32. The current P/GP Ratio is 0.99 based on a stock price of $32.09. The current ratio is below the low ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively cheap.

I get a 10-year median Price/Book Value per Share Ratio of 1.88. The current P/B Ratio is 1.60 based on a Book Value of $5,449M, Book Value per Share of $20.11 and a stock price of $32.09. The current ratio is 15% 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 for 2024 of $20.10. This analyst calculates the Book Value differently than I do and this way has a 10-year median Price/Book Value per Share Ratio of 1.46. The BVPS of $20.10 implies a Book Value of $5,446M and a ratio of 1.60 based on a stock price of $32.09. This ratio is 9.58% above the 10 year median. his stock price testing suggests that the stock price is relatively reasonable and below the median. The analyst really expects the Book Value for this company to drop a lot this year.

I get a 10-year median Price/Cash Flow per Share Ratio of 5.99. The current P/CF Ratio is 5.16 based on a stock price of $32.09, Cash Flow per Share for 2024 of $6.22 and Cash Flow of $1,685M. The current ratio is 14% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I get an historical median dividend yield of 3.84%. The current dividend yield is 5.65% based on dividends of $1.824 and a stock price of $32.09. The current dividend yield is 47% 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 4.73%. The current dividend yield is 5.65% based on dividends of $1.824 and a stock price of $32.09. The current dividend yield is 19% 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 2.59. The current P/S Ratio is 2.01 based on Revenue estimate for 2024 of $4,322M, Revenue per Share of $15.95 and a stock price of $32.09. The current ratio is 22% 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 reasonable, but could be cheap. The 10 year median dividend yield test says the stock price is reasonable, but it is very close to cheap. The P/S Ratio test says the stock price is cheap. A number of other tests says the stock price is cheap, but some also say reasonable.

When I look at analysts’ recommendations, I find Strong Buy (1), Hold (5). The consensus would be a Hold. The 12 month stock price consensus is $34.58 with a high of $36.00 and a low of $33.00. The consensus price of $34.58 implies a total return of 13.41% with 7.76% from capital gains and $5.65% from dividends based on a current stock price of $32.09.

There are only comments from 2023 on Stock Chase and the recommendations are a Hold. Stock Chase gives this stock 3 stars out of 5. Amy Legate-Wolfe on Motley Fool says this company is better to buy than Enbridge. Daniel Da Costa on Motley Fool says this company is the most defensive stock to buy. The company put out a Press Release on their year-end results for 2023. The company put out a Press Release about their first quarter of 2024 results.

Simply Wall Street via Yahoo Finance reviews this stock and says it is undervalued. Simply Wall Street has two warnings signs of interest payments are not well covered by earnings; and dividend of 5.69% is not well covered by cash flows. Simply Wall Street gives this stock 3 and one half stars out of 5.

Canadian Utilities Ltd, a subsidiary of holding company Atco, offers gas and electricity services. The company is engaged in Atco Energy systems and its Energy Infrastructure operating segment to ATCO EnPower. Headquartered in Calgary, Alberta, the firm mainly operates in Canada, Australia, and others. The company generates maximum revenue from Canada. Canadian Utilities launched a large venture called Atco Energy, which provides low-cost and sustainable energy solutions for Alberta. Its web site is here Canadian Utilities Ltd .

The last stock I wrote about was about was Mullen Group Ltd (TSX-MTL, OTC-MLLGF) ... learn more. The next stock I will write about will be Pizza Pizza Royalty Corp (TSX-PZA, OTC-PZRIF) ... learn more on Friday, May 24, 2024 around 5 pm. Tomorrow on my other blog I will write about Top Canadian Food Stocks for May.... learn more learn more on Thursday, May 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.

Mullen Group Ltd

Sound bite for Twitter and StockTwits is: Dividend Growth Industrial. Results of stock price testing is that the stock price is probably cheap. Debt Ratios are mostly good. The Dividend Payout Ratios (DPR) are fine. The current dividend yield is good with dividend growth stopped but expected to resume. See my spreadsheet on Mullen Group Ltd.

Is it a good company at a reasonable price? I still like this company. As I said last Monday, I bought another 200 shares. I am using my fooling around money on this. Analysts seem to keep thinking that the stock price will rise. Maybe this year. The stock price would appear to be relatively cheap.

I own this stock of Mullen Group Ltd (TSX-MTL, OTC-MLLGF). I like to look at recommended small cap dividend paying stock to see if they would be a possible good investment now or in the future. The other thing to mention about this stock is that it converted from an income trust and decreased it dividends. The reduction in dividend brought the Dividend Payout Ratios down to a place that would allow for the company to begin growing dividends again.

When I was updating my spreadsheet, I noticed I have not done well on this stock. I bought at the wrong time. My total loss is 0.59% per year with a capital loss of 4.39% and dividends of 3.80%. It services the resource sectors and there is boom and bust. Part of the good part of buying companies that pay dividends, is not losing much. In this case I have not lost much. Unfortunately, I have not gain much, but I do have the dividends. Some insiders have bought stock over the past year, including the Chairman and CFO.

If you had invested in this company in December 2013, for $1,022.04 you would have bought 36 shares at $28.39 per share. In December 2023, after 10 years you would have received $243.72 in dividends. The stock would be worth $505.44. Your total return would have been $749.16. This would be a total loss of 3.6% per year with 6.8% from capital gain and 3.20% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$28.39	$1,022.04	36	10	$243.72	$505.44	$749.16

Last year, when I look at the 10 year return, the return was a bit better. If you had invested in this company in December 2012, for $1,003.20 you would have bought 48 shares at $20.60 per share. In December 2022, after 10 years you would have received $355.20 in dividends. The stock would be worth $698.40. Your total return would have been $1,053.60. This would be a total return of 0.61% per year with 3.56% from capital loss and 4.16% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$20.90	$1,003.20	48	10	$355.20	$698.40	$1,053.60

The current dividend yield is good with dividend growth stopped but expected to resume. The current dividend yield is good (5% to 6% ranges) at 5.63%. The 5, 10 and historical dividend yields are moderate (2% to 4% ranges) at 4.91%, 4.61% and 4.28%. The dividend growth over the past 4.4% per year. The last dividend increase was for 20% and it occurred in 2022.

The Dividend Payout Ratios (DPR) are fine. The Dividend Payout Ratios (DPR) are fine. DPR for 2023 for Earnings per Share (EPS) is a bit high at 50% with 5 year coverage at 54%. The DPR for 2023 for Funds from Operations (FFO) is good at 23% with 5 year coverage at 24%. The DPR for 2023 for Adjusted Earnings per Share (AEPS) is good at 48% with 5 year coverage a bit high at 67%. The DPR for 2023 for Cash Flow per Share (CFPS) is good at 20% with 5 year coverage at 20%. The DPR for 2023 for Free Cash Flow (FCF) is good at 37% with 5 year coverage at 40%.

Item	Cur	5 Years
EPS	49.66%	54.37%
FFO	23.38%	24.42%
AEPS	48.32%	67.42%
CFPS	19.72%	20.30%
FCF	37.01%	40.10%

Debt Ratios are mostly good. The Long Term Debt/Market Cap Ratio for 2023 is good at 0.19 and currently at 0.53. The Liquidity Ratio for 2023 is too low at 0.76 and 0.78 currently. If you added in Cash Flow after dividends, the ratios are fine at 2.55 and currently at 1.16. The Debt Ratio for 2023 is good at 2.09 and 2.10 currently. The Leverage and Debt/Equity Ratios for 2023 are fine at 2.09 and 1.09 and currently at 2.10 and 1.10.

Type	Year End	Ratio Curr
Lg Term	0.19	0.53
Intang/GW	0.37	0.42
Liquidity	0.76	0.78
Liq. + CF	2.55	1.16
Debt Ratio	1.91	1.91
Leverage	2.09	2.10
D/E Ratio	1.09	1.10

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	4.42%	7.13%	2.83%	4.29%
2013	10	-6.09%	-3.60%	-6.80%	3.20%
2008	15	-5.93%	6.34%	0.64%	5.70%
2003	20	8.80%	7.18%	0.32%	6.86%
1998	25	7.61%	12.01%	3.88%	8.13%
1997	26		9.16%	2.71%	6.45%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 18.97, 12.27 and 18.83. The corresponding 10 year ratios are 12.00, 15.40 and 18.81. The corresponding historical ratios are 10.93, 14.67 and 18.33. The current P/E Ratios is 10.25 based on a stock price of $12.79 and EPS estimate for 2024 of $1.25. 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 8.72, 12.67 and 18.72. The corresponding 10 year ratios are 14.87, 19.76 and 24.74. The current P/AEPS Ratio is 10.15 based on a stock price of $12.79 and AEPS estimate for 2024 of $1.26. The current ratio is below the low ratio of the 10 year median ratios. This stock price testing suggests that the stock price is cheap.

I also have Fund from Operations (FFO) data. The 5-year low, median, and high median Price/ Fund from Operations Ratios are 4.22, 4.76 and 5.61. The corresponding 10 year ratios are 5.30, 7.01 and 8.86. The current P/FFO Ratio is 4.06 based on a stock price of $12.79 and FFO for last 12 months of $3.15. The current ratio is below the low ratio of the 10 year median ratios. This stock price testing suggests that the stock price is cheap.

I get a Graham Price of $17.69. The 10-year low, median, and high median Price/Graham Price Ratios are 0.93, 1.19 and 1.45. The current P/GP Ratio is 0.72 based on a stock price of $12.79. 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.

I get a 10-year median Price/Book Value per Share Ratio of 1.49. The current P/B Ratio is 1.16 based on a stock price of $12.79, Book Value of $973M, Book Value per Share of $11.04. The current ratio is 22% below the 10 year median ratios. This stock price testing suggests that the stock price is relatively cheap.

I also have an estimate for the Book Value per Share for 2024 of $11.70. This analyst calculates the Book Value Ratio differently than I do and, in this case, the 10 year P/B Ratio is 1.48. The BVPS implies a ratio of 1.09 based on a stock price of $12.97 and Book Value of $1,031M. This ratio is 26% below the 10 year median ratios. 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 5.67. The current P/CF Ratio is 4.35 based on Cash Flow per Share estimate for 2024 of $2.94, Cash Flow of $258.9M and a stock price of $12.79. This ratio is 23% 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 4.28%. The current dividend yield is 5.63% based on a stock price of $12.79 and dividends of $0.72. The current yield is 32% 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 4.61%. The current dividend yield is 5.63% based on a stock price of $12.79 and dividends of $0.72. The current yield is 22% above the 10 year median dividend yield. This stock price testing suggests that the stock price is relatively cheap.

The 10-year median Price/Sales (Revenue) Ratio is 1.00. The current P/S is 0.56 based on Revenue estimate for 2024 of $2,015M, Revenue per Share of $22.88 and a stock price of $12.79. The current ratio is 44% 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. Both the dividend yield tests say that the stock price is relatively cheap. This is confirmed by the P/S Ratio test. All the other tests are saying the same thing.

When I look at analysts’ recommendations, I find Strong Buy (3), Buy (4) and Hold (3). The consensus would be a Buy. The 12 month stock price consensus is $17.50 with a high of $22.00 and low of $14.50. The consensus stock price of $17.50 implies a total return of 42.46% with 36.83% from capital gains and 5.63% from dividends based on a stock price of $12.79. Below you can see that analysts are expecting the stock price to rise, at least for the last 2 years, but it has declined instead.

Last year, when I look at analysts’ recommendations, I found Strong Buy (1), Buy (4) and Hold (5). The consensus would be a Buy. The 12 month stock price consensus is $16.68. This implied a total return of 12.84% with 8.17% from capital gains and 4.67% from dividends based on a stock price of $15.42. What happened was a total loss of 12.39% with a capital loss of 47.06% and dividends of $4.67.

In 2022, when I look at analysts’ recommendations, I found Strong Buy (1), Buy (7) and Hold (2). The consensus would be a Buy. The 12 month stock price consensus is $15.90. This implies a total return of $32.54%, with 26.79% from capital gains and 5.74% from dividends based on a stock price of $19.56.

On Stock Chase for 2024 there is a Buy and an Do Not Buy. The buy says the company is going a good job and is healthy. The Do not Buy says the stock can be volatile. Stock Chase gives this company 4 stars out of 5. Jitendra Parashar on Motley Fool says buy for passive month income. Amy Legate-Wolfe on Motley Fool thinks this is a stock to buy and hold forever. The company put out a press release via Newswire about their results for 2023. The company put out a press release via Newswire about their first quarter of 2024 results.

Simply Wall Street via Yahoo Finance reviews this stock. Simply Wall Street gives out two warnings of unstable dividend track record; and has a high level of debt. Simply Wall Street gives this stock 3 and one half stars out of 5.

Mullen Group Ltd is a logistics provider with a network of independently operated businesses providing a wide range of service offerings including less-than-truckload, truckload, Specialized & Industrial Services warehousing and logistics, U.S., and International Logistics, and Corporate. The company derives the majority of its revenue from the Less-Than-Truckload segment and geographical revenue from Canada. The company also provides a diverse set of specialized services related to the energy, mining, forestry, and construction industries in western Canada. Its web site is here Mullen Group Ltd.

The last stock I wrote about was about was Hammond Power Solutions Inc (TSX-HPS.A, OTC-HMDPF) ... learn more. The next stock I will write about will be Canadian Utilities Ltd (TSX-CU, OTC-CDUAF) ... learn more on Wednesday, May 22, 2024 around 5 pm. Tomorrow on my other blog I will write about Best Canadian Dividend Stock .... learn more on Tuesday, May 21, 2024 around 5 pm.

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