Guardian Capital Group

I have today bought 100 Shares of Guardian Capital Group for the TFSA. Results of stock price testing is that the stock price is probably cheap. I have enough established dividend growth stock in my portfolio. I want to look at and buy what might be future established dividend growth stocks. However, this stock must be recognized as a risk. I am buying this stock with my fooling around money.

Sound bite for Twitter and StockTwits is: Dividend Growth Financial. Debt Ratios are fine. The Dividend Payout Ratios (DPR) are good. The current dividend yield is moderate with dividend growth good. See my spreadsheet on Guardian Capital Group.

Is it a good company at a reasonable price? This is probably considered a Small Cap. It is risky. However, I do want to investigate possible stock that might be more established in the future. This is what I am using the money in the TFSA account for. You probably should not investment any money in this stock that you cannot afford to lose. Some tests do show that the stock price is expensive. However, according to my usual way of testing this stock is relative cheap.

I bought this stock of Guardian Capital Group (TSX-GCG.A, OTC-GCAAF) today. I read about this stock some years ago and when I was looking for a new stock to follow, it sounded interesting.

When I was updating my spreadsheet, I noticed that earnings seem to vary based on unearned losses or gains on securities. I therefore think that Operating Earnings and Adjusted Cash Flow from Operations become important measures. I know that Simply Wall Street gave a warning of declining earnings, but their analysis is too simplistic.

If you had invested in this company in December 2013, for $1004.25 you would have bought 65 shares at $15.45 per share. In December 2023, after 10 years you would have received $383.50 in dividends. The stock would be worth $2,876.90. Your total return would have been $3,260.40. This would be a total return of 13.24% per year with 11.10% from capital gain and 2.14% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$15.45	$1,004.25	65	10	$383.50	$2,876.90	$3,260.40

The current dividend yield is moderate with dividend growth good. The current dividends are moderate (2% to 4% ranges) at 3.52%. The 5 and 10 year median dividend yields are also moderate at 2.75% and 2.21%. The historical median dividend yield is low (below 2%) at 1.72%. The dividend increases are good (15% and higher) at 19% per year over the past 5 years. The last dividend increase was in 2024 and it was for 8.8%.

The Dividend Payout Ratios (DPR) are good. The DPR for 2023 for Earnings per Share (EPS) is good at 6% with 5 year coverage at 12%. The DPR for 2023 for Adjusted Earnings per Share (AEPS) is good at 31% with 5 year coverage at 28%. The DPR for 2023 for Cash Flow per Share (CFPS) is good at 36% with 5 year coverage at 25%. The DPR for 2023 for Free Cash Flow (FCF) is good at 46% with 5 year coverage at 19%.

Item	Cur	5 Years
EPS	5.70%	12.22%
AEPS	31.58%	28.24%
CFPS	35.86%	24.99%
FCF	45.95%	18.95%

Debt Ratios are fine. The Long Term Debt/Market Cap Ratio for 2023 is good at 0.22 and currently at 0.32. The Liquidity Ratio for 2023 is low at 0.63 and 0.80 currently. If you added in Cash Flow after dividends, the ratios are low at 0.75 and currently at 0.79. However, since this is a financial, the Debt Ratio is more important. The Debt Ratio for 2023 is good at 3.54 and 3.10 currently. The Leverage and Debt/Equity Ratios for 2023 are good at 1.40 and 0.39 and currently at 1.48 and 0.48.

Type	Year End	Ratio Curr
Lg Term R	0.22	0.32
Intang/GW	0.11	0.12
Liquidity	0.63	0.80
Liq. + CF	0.75	0.79
Debt Ratio	3.54	3.10
Leverage	1.40	1.48
D/E Ratio	0.39	0.48

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	19.36%	17.63%	14.94%	2.69%
2013	10	15.43%	13.24%	11.10%	2.14%
2008	15	15.24%	19.30%	16.46%	2.84%
2003	20	14.78%	11.51%	9.86%	1.65%
1998	25	21.34%	10.40%	9.01%	1.39%
1993	30	17.63%	14.30%	12.63%	1.68%
1990	33		15.22%	13.56%	1.67%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 3.72, 4.55 and 5.39. The corresponding 10 year ratios are 5.77, 6.87 and 7.65. The corresponding historical ratios are 10.93, 13.93 and 16.95. The current ratio is 15.01 based on a stock price of $42.02 and EPS estimate for 2024 of $2.80. 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 also have Adjusted Earnings per Share (AEPS) data. The 5-year low, median, and high median Price/Adjusted Earnings per Share Ratios are 4.82,5.51 and 6.20. The corresponding 10 year ratios are 6.91, 8.36 and 9.80. The current P/AEPS Ratio is 15.01 based on a stock price of $42.02 and AEPS estimate for 2024 of $2.80. This stock price testing suggests that the stock price is relatively reasonable and below the median. However, a ratio is 15.01 is not really a high ratio.

I get a Graham Price of $56.14. The 10-year low, median, and high median Price/Graham Price Ratios are 0.53, 0.64 and 0.71. The current P/GP Ratio is 0.75 based on a stock price of $42.02. The current ratio is above the high ratio for the 10 year median ratios. This stock price testing suggests that the stock price is relatively expensive.

I get a 10-year median Price/Book Value per Share Ratio of 1.08. The current ratio is 0.84 based on a Book Value of $1,244M, Book Value per Share of $50.03 and a stock price of $42.02. The current ratio is 22% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

I also have a Book Value per Share estimate for 2024 of $87.20. This implies a book Value of $2,168M and a ratio of $0.48 based on a stock price of $42.02. This ratio 55% 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 14.19. The current ratio is 14.24 based on Cash Flow for the last 12 months of $73M, Cash Flow per Share of $2.95 and a stock price of $42.02. The current ratio is 0.4% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and at the median.

I get an historical median dividend yield of 1.72%. The current dividend yield is 3.52% based on dividends of $1.48 and a stock price of $42.02. The current dividend yield is 105% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively cheap.

I get a 10 year median dividend yield of 2.21%. The current dividend yield is 3.52% based on dividends of $1.48 and a stock price of $42.02. The current dividend yield is 59% 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 4.23. The current P/S Ratio is 4.06 based on Revenue estimate for 2024 of $324M, Revenue per Share of $13.03 and a stock price of $42.02. The current ratio is 24% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

Results of stock price testing is that the stock price is probably cheap. The dividend yield tests say that the stock price is relatively cheap. This is confirmed by the P/S Ratio test. However, the rest of the testing is a mixed bag with some testing saying the stock price is cheap and others that it is expensive.

When I look at analysts’ recommendations, I find Buy (2) and Hold (1). The consensus would be a Buy. The 12 month stock price consensus is $50.00 with a high of $55.00 and a low of $44.00. The consensus stock price of $50.00 implies a total return of 22.51% with 18.99% from capital gains and 3.52% from dividends.

Analysts seem to review this stock on Stock Chase about once a year. They like to stock. Stock Chase gives this stock 1 star out of 5. Adam Othman on Motley Fool says it is an undervalue long term hold in 2022. Nikhil Kumar on Motley Fool reviews this stock in 2021 and thought it was a dividend paying value stock. The company put out a press release via Newswire about their fourth quarter of 2024. The company put out a press release on Newswire about its third quarter of 2024.

Simply Wall Street via Yahoo Finance reviews this stock and its dividend. They do not like increasing dividends when earnings are going down. Simply Wall Street has 1 warning out of Earnings have declined by 9% per year over past 5 years. Looking at EPS for the past 10 years, what I see is that they have varied hugely from year to year. Simply Wall Street gives this stock 3 and one half stars out of 5.

Guardian Capital Group Ltd is a diversified financial services company. It operates in three reportable segment Investment Management, Wealth Management, and Corporate Activities and Investments. Its web site is here Guardian Capital Group.

The last stock I wrote about was about was Propel Holdings Inc. (TSX-PLR, OTC-PRLPF) ... learn more. The next stock I will write about will be Metro Inc (TSX-MRU, OTC-MTRAF) ... learn more on Wednesday, January 1, 2025 around 5 pm. Tomorrow on my other blog I will write about Velotique .... learn more on December 31, 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.

Propel Holdings Inc

I have today bought 100 Shares of Propel Holdings Inc for the TFSA. I have enough established dividend growth stock in my portfolio. I want to look at and buy what might be future established dividend growth stocks. However, this stock must be recognized as a risk. I am buying this stock with my fooling around money.

Sound bite for Twitter and StockTwits is: Dividend Growth Financial. Results of stock price testing is that the stock price is the price is probably on the expensive side. Debt Ratios are fine. The Dividend Payout Ratios (DPR) are fine. The current dividend yield is low with dividend growth good. See my spreadsheet on Propel Holdings Inc.

Is it a good company at a reasonable price? This stock has only been on the TSX for 4 years. This is a highly speculative stock. It is testing as being expensive, however, these is little data to go on. The company is growing, so I am taking a chance. However, I am buying this with my fooling around money.

I do not own this stock of Propel Holdings Inc. (TSX-PRL, OTC-PRLPF), but I bought some today. When I was reading and article by Aditya Raghunath's on EQB, he also mentions this stock. I thought the stock looked interesting. See the Article. This is a new stock for me to follow.

When I was updating my spreadsheet, I noticed that this stock is growth very well. It has only been listed for 4 years. In the chart below, I am showing 4 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 this year.

Yr	Item	Tot. Grth	Per Year	Gwth	Coverage
4	Revenue Growth US$	365%	46.90%	31.58%	<-12 mths
4	AEPS Growth	1125%	87.08%	5581.04%	<-12 mths
4	Net Income Growth	1282%	92.82%	0.00%	<-12 mths
4	Cash Flow Growth	-236%	N/C	-89.34%	<-12 mths
4	CF Growth Excl. WC	473 %	54.73%	29.63%	<-12 mths
4	Dividend Growth	1081%	85.39%	38.25%	<-12 mths
2	Stock Price Growth	49%	22.16%	229.61%	<-12 mths
4	Revenue Growth US$	365%	46.90%	42.15%	<-this year
4	AEPS Growth	1125%	87.08%	64.29%	<-this year
4	Net Income Growth	1282%	92.82%	79.65%	<-this year
4	Cash Flow Growth	-236%	N/C	-89.34%	<-this year
4	CF Growth Excl. WC	473%	54.73%
4	Dividend Growth	1081 %	85.39%	31.72%	<-this year
2	Stock Price Growth	49 %	22.16%	229.61%	<-this year

The current dividend yield is low with dividend growth good. The current dividend yield is low (below 2%) at 1.77%. The 4 year median dividend yield is moderate (2% to 4% ranges) at 3.92%. The dividend growth is good (15% or higher per year) with dividends growing by 85% US$ (87% CDN$) per year over the past 4 years.

The Dividend Payout Ratios (DPR) are fine. The DPR for 2023 for Earnings per Share (EPS) is good at 39% with 5 year coverage high at 56%. The DPR for 2023 for Adjusted Earnings per Share (AEPS) is good at 30% with 5 year coverage at 41%. The DPR for 2023 for Cash Flow per Share (CFPS) is good at 5% with 5 year coverage at 7%. The DPR for 2023 for Free Cash Flow (FCF) is not calculable because FCF is negative. There is no agreement on what FCF is, but there is agreement that it is negative.

Item	Cur	5 Years
EPS	38.86%	56.37%
AEPS	30.14%	40.94%
CFPS	5.20%	6.88%
FCF	0.00%	-12.64%

Debt Ratios are fine. The Long Term Debt/Market Cap Ratio for 2023 is good at 0.60 and currently at 0.33. The Liquidity Ratio for 2023 is good at 10.87 and 11.05 currently. The Debt Ratio for 2023 is fine at 1.42 and 1.42 currently. The Leverage and Debt/Equity Ratios for 2023 are fine for a financial at 3.39 and 2.39 and currently at 3.39 and 2.39.

Type	Year End	Ratio Curr
Lg Term R	0.60	0.33
Intang/GW	0.04	0.02
Liquidity	10.87	11.05
Liq. + CF	10.29	10.02
Debt Ratio	1.42	1.42
Leverage	3.39	3.39
D/E Ratio	2.39	2.39

The Total Return per year is shown below for 3 years to the end of 2023 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.
2020	3	87.35%	11.30%	7.85%	3.45%

The Total Return per year is shown below for 3 years to the end of 2023 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.
2021	2	85.39%	26.32%	22.16%	4.16%

The 3-year low, median, and high median Price/Earnings per Share Ratios are 11.64, 18.19 and 24.73. The current P/E Ratio is 20.44 based on a stock price $36.77 and EPS estimate for 2024 of $1.80. 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.

Because we are so close to 2025, we should also look at the EPS estimate for 2025 and that is $3.33. This produces a P/E of 11.06. 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 also have Adjusted Earnings per Share (AEPS) data. The 3-year low, median, and high median Price/Adjusted Earnings per Share Ratios are 8.58, 13.40 and 18.22. The current P/E Ratio is 16.86 based on a stock price $36.77 and AEPS estimate for 2024 of $2.18. This ratio is between the median and high ratios of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable but above the median.

Because we are so close to 2025, we should also look at the AEPS estimate for 2025 and that is $3.40. This produces a P/E of 10.82. 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 Graham Price of $15.55. The 10-year low, median, and high median Price/Graham Price Ratios are 0.89, 1.38 and 1.88. The current ratio is 2.37 based on a stock price of $36.77. 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. If you look at the Graham Price for 2025 it is 19.41 with a P/GP of 1.89. This ratio is just above the high ratio of the 10 year median ratios. So, this still suggests the stock price is relatively expensive.

I get a 3-year median Price/Book Value per Share Ratio of 2.63. The current ratio is 6.51 based on a stock price of $36.77, Book Value of $128M, and Book Value per Share of $3.72. This ratio is 147% above the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable and below the median.

I have a Book Value per Share estimate for 2025 of $6.07. This implies a Book Value of $209M and a P/B Ratio of 3.99 with a stock price of $36.77. This ratio of 3.99 is 52% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive.

I get a 3-year median Price/Cash Flow per Share Ratio of 1.80. The current ratio is negative so I cannot do any testing here.

I get a 3 year median dividend yield of 3.92%. The current dividend yield is 1.63% based on a dividend of $0.60 and a stock price of $36.77. The current ratio is 58% below the 3 year median dividend yield. This stock price testing suggests that the stock price is relatively expensive.

The 3-year median Price/Sales (Revenue) Ratio is 1.16. The current ratio is 2.13 based on a stock price of 36.77, Revenue estimate for 2024 of $595M, and revenue per share of $17.30. The current ratio is 84% above the 3 year median ratio. This stock price testing suggests that the stock price is relatively expensive.

The Revenue estimate for 2025 is $904M. This implies a ratio of 1.40 and Revenue per Share of $26.29 with a stock price of $36.77. This ratio is 21% above the 3 year median ratio. This is still testing as having a stock price that is relatively expensive, but it is close to reasonable.

Results of stock price testing is that the stock price is the price is probably on the expensive side. The dividend yield test says this. It is confirmed by the P/S Ratio testing. Even taking in 2025 Revenue estimates the P/S Ratios testing is showing the stock as expensive. It is only the EPS and AEPS testing for 2025 values that are showing the stock price as cheap to reasonable.

When I look at analysts’ recommendations, I find Strong Buy (4) and Buy (3). The consensus would be a Strong Buy. The 12 month stock price consensus is $42.75 ($31.68 US$) with a high of $45.15 ($33.46 US$) and low of $40.27 ($29.84 US$). The stock price consensus of $42.75 implies a total return of 28.10% with 26.33% from capital gains and 1.77% from dividends.

Analysts on Stock Chase like this stock and consider it a Buy. There are a number of entries for 2024. Stock Chase gives this stock 5 stars out of 5. Robin Brown on Motley Fool says that you could use this stock go build general wealth. Aditya Raghunath on Motley Fool thinks this undervalued growth stock is a top buy for 2025. The company put out a press release via Newswire on their fourth quarter results for 2023. The company put out a press release on Newswire about their third quarter of 2024.

Simply Wall Street via Yahoo Finance says this stock is undervalued and worth $64.56 CDN$ a share. Simply Wall Street has 3 warnings out on this stock of interest payments are not well covered by earnings; high level of non-cash earnings; significant insider selling over the past 3 months; and shareholders have been diluted in the past year.

Propel Holdings Inc is a financial technology (fintech) company, committed to credit inclusion by facilitating fair, fast, and transparent access to credit through its proprietary, online lending platform. All the firm's operations are conducted through its consumer-facing brands: MoneyKey, CreditFresh, and Fora Credit. Its web site is here Propel Holdings Inc.

The last stock I wrote about was about was Titanium Transportation Group Inc (TSX-TTNM, OTCQX-TTNMF) ... learn more. The next stock I will write about will be Guardian Capital Group (TSX-GCG.A, OTC- GCAAF) ... learn more on Monday, December 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.

Titanium Transportation Group Inc

Sound bite for Twitter and StockTwits is: Dividend Paying Industrial. Results of stock price testing is that the stock price is showing the stock price as relatively cheap. Debt Ratios need to improve. The Dividend Payout Ratios (DPR) are fine. The current dividend yield is moderate with dividend growth non-existent. See my spreadsheet on Titanium Transportation Group Inc.

Is it a good company at a reasonable price? Analysts are still expecting this stock to do better than it has done for EPS, but Revenue has been close. The stock chart shows that the stock is relatively low for the last 5 years. It is probably cheap. I am not buying anymore of this stock, but I have not lost faith in the company and my ultimate ability to profit from this company. My testing is showing the stock price as relatively cheap.

I own this stock of Titanium Transportation Group Inc (TSX-TTNM, OTCQX-TTNMF). I found this stock on a blog of Our Life Financial. Unfortunately, most the items for this Substack blog are now for paying subscribers.

When I was updating my spreadsheet, I noticed this stock was doing very well until 2022. There was a pull back for Revenue, Earnings and Cash Flow for 2023. Revenue is expected to go in in 2024, but Earnings and Cash Flow is expected to go down again. Analysts expect that there will be an earnings loss in 2024, but the company will do better in 2025.

If you had invested in this company in December 2024, for $1,000.48 you would have bought 662 shares at $1.51 per share. In December 2023, after 9 years you would have received $172.12.21 in dividends. The stock would be worth $1,535.84. Your total return would have been $1,707.96. This would be a total return of 6.21% per year with 4.88% from capital gain and 1.33% from dividends.

Cost	Tot. Cost	Shares	Years	Dividends	Stock Val	Tot Ret
$1.51	$1,000.48	662	9	$172.12	$1,535.84	$1,707.96

The current dividend yield is moderate with dividend growth non-existent. The dividend yield is moderate (2% to 4% ranges) at 3.43%. The 3 year and historical dividend yield is moderate at 2.64%. Dividends have only been paid for 4 years and when I started to cover this stock and when I bought it, it had just started to pay dividends, so I you never know how that will go. So, far there has been no increase and analysts do not expect any change in this in the near future.

The Dividend Payout Ratios (DPR) are fine. The DPR for 2023 for Earnings per Share (EPS) is good at 36% with 5 year coverage at 23%. The DPR for 2023 for Adjusted Operating Earnings (AOI) is good at 36% with 5 year coverage at 26%. The DPR for 2023 for Cash Flow per Share (CFPS) is good at 15% with 5 year coverage at 8%. The DPR for 2023 for Free Cash Flow (FCF) is non-calculable because of negative FCF. This is not particularly good, but is not my favourite measure, although in the case, there does seem to be agreement on what the FCF is.

Item	Cur	4 Years
EPS	36.36%	23.64%
AOI	36.36%	25.90%
CFPS	15.31%	7.96%
FCF	-8.69%	-50.56%

Debt Ratios need to improve. The Long Term Debt/Market Cap Ratio for 2023 is far too high at 1.28 and currently at 1.08. The Liquidity Ratio for 2023 is too low at 0.81 and 0.83 currently. If you added in Cash Flow after dividends, the ratios are too low at 1.01 and currently at 1.02. I prefer this ratio to be 1.50 or higher. The Debt Ratio for 2023 is low at 1.42 and 1.44 currently. I prefer this ratio to be at 1.50 or higher. The Leverage and Debt/Equity Ratios for 2023 are good at 3.41 and 2.41 and currently at 3.28 and 2.28. I prefer these ratios to be below 3.00 and below 2.00.

Type	Year End	Ratio Curr
Lg Term R	1.28	1.08
Intang/GW	0.20	0.19
Liquidity	0.81	0.83
Liq. + CF	1.01	1.02
Debt Ratio	1.42	1.44
Leverage	3.41	3.28
D/E Ratio	2.41	2.28

The Total Return per year is shown below for years of 5 to 9 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%	15.68%	12.81%	2.87%
2014	9	0.00%	6.21%	4.88%	1.33%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 10.27, 12.70 and 15.14. The corresponding 10 year ratios are 6.47, 10.56 and 14.65. The corresponding historical ratios are 6.47, 10.56 and 14.65. The current P/E Ratio is negative, so I cannot do any testing. The EPS estimate for 2024 is -$0.02.

The EPS estimate for 2025 is $0.12 and with a stock price of $2.33 gives us a P/E Ratio of 24.53. This ratio is above the high ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively expensive. The EPS for 2026 is $0.15 and with a stock price of $2.33 gives us a P/E Ratio of 15.53. This is also above the high ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively expensive.

I also have Adjusted Operating Income data (AOI) or Adjusted Revenue after expenses. The 5-year low, median, and high median Price/ Adjusted Operating Income Ratios are 10.27, 12.70 and 15.14. The corresponding 10 year ratios are 15.01, 18.17 and 21.33. The current ratio is negative so I cannot use that in testing. The ratio for 2026 is 19.42 based on AOI estimate for 2026 of $0.12 with a stock price of $2.33. This ratio is between the median and high ratios of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable but above the median.

I get a Graham Price of $2.19. The 10-year low, median, and high median Price/Graham Price Ratios are 0.60, 0.82 and 1.12. The current P/GP Ratio is 1.06 based on a stock price of $2.33. The current ratio is between the median and high ratios of the 10 year median ratios. This stock price testing suggests that the stock price is relatively reasonable but above the median.

I get a 10-year median Price/Book Value per Share Ratio of 1.38. The current ratio is 1.04 based on a Book Value of $100.7M, Book Value per Share of $2.24 and a stock price of $2.33. The current ratio is 25% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively cheap.

I get a 10-year median Price/Cash Flow per Share Ratio of 3.75. The current ratio is 4.77 based on Cash Flow for the last 12 months of $21.96M, Cash Flow per Share of $0.49 and a stock price $2.33. The current ratio is 27% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively expensive.

I get an historical and 3 year median dividend yield of 2.64%. The current dividend yield is 3.43% based on a stock price of $2.33 and dividends of $0.08. The current dividend yield is 30% above the historical and 3 year median dividend yield. This stock price testing suggests that the stock price is relatively cheap. However, this test works best with increasing dividends and dividends on this stock are flat.

The 10-year median Price/Sales (Revenue) Ratio is 0.31. The current P/S Ratio is 0.23 based on Revenue estimate for 2024 of $461.3M, Revenue per Share of $10.26 and a stock price of $2.33. The current ratio is 28% 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 showing the stock price as relatively cheap. The dividend yield test shows that the stock price is cheap. This is confirmed by the P/S Ratio test. Except for the P/B Ratio test, the other tests are showing the stock price as either reasonable and above the median or expensive.

When I look at analysts’ recommendations, I find Strong Buy (4), Buy (2). The consensus would be a Strong buy. The 12 month stock price consensus is $4.192 with a high of $4.80 and a low of $3.75. The consensus stock price of $4.192 implies a total return of 83.35% with 79.91% from capital gains and 3.43% from dividends.

Last year I looked at analysts’ recommendations, I found Strong Buy (4) and Buy (3). The consensus is a Strong Buy. The 12 months stock price consensus is $5.586, with the highest being $7.00 and lowest $4.50. The consensus stock price of $5.586 implies a total return of 103.81% with 100.94% from capital gains and 2.88% from dividends. What actually happened with a decline in the stock price of 58% to $2.33.

Analysts on Stock Chase do not follow this stock very much. The last entry was in 2021 and the analysts thought it was struggling them. Stock Chase gives this stock 1 stars out 5 stars. Adam Othman on Motley Fool though in 2021 that this would be a good stock for a TFSA. . The company put out a press release on Newswire about their fourth quarter of 2023. The company put out a Press Release on Newswire about their third quarter results for 2024.

Simply Wall Street via Yahoo Finance is rather negative on this stock because the company’ returns on capital is decreasing. Simply Wall Street has 3 warnings out on this stock of Interest payments are not well covered by earnings; dividend of 3.43% is not well covered by earnings or free cash flows; and does not have a meaningful market cap (CA$104M). Simply Wall Street gives this stock 2 and one half stars out of 5.

Titanium Transportation Group Inc is assets-based transportation and logistics firm that provides services like truckload, dedicated, cross-border trucking services, freight logistics, warehousing, and distribution. The group has a business presence in Canada and the United States. Its web site is here Titanium Transportation Group Inc.

The last stock I wrote about was about was Agnico Eagle Mines Ltd (TSX-AEM, NYSE-AEM) ... learn more. The next stock I will write about will be Propel Holdings Inc. (TSX-PLR, OTC-PRLPF) ... learn more on Friday, December 27, 2024 around 5 pm. Tomorrow on my other blog I will write about Live Science Newsletter .... learn more on Thursday, December 26, 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.

Agnico Eagle Mines Ltd

Sound bite for Twitter and StockTwits is: Dividend Growth Material. Results of stock price testing is that the stock price is probably reasonable, but it might be cheap. Debt Ratios are good. The Dividend Payout Ratios (DPR) could improve for AEPS, but the ratios for CFPS are fine. The current dividend yield is low with dividend growth good until this year. See my spreadsheet on Agnico Eagle Mines Ltd .

Is it a good company at a reasonable price? Personally, I have little in the way of resource stocks. Generally, I think that they are too volatile for a long term buy. However, a lot of analysts disagree with me on that point. This stock has generally done well for its shareholders. Looking this stock’s chart over the long term, it is relatively high. When I have bought resource stocks in the past, for short-term investments, I have always bought them when their charts show that the stock price is relatively low. On the other hand, my testing is showing the stock price is reasonable and perhaps cheap.

I do not own this stock of Agnico Eagle Mines Ltd (TSX-AEM, NYSE-AEM). Recently, two mining stocks were recommended. Agnico-Eagle Mines Ltd (TSX-AEM) was recommended by Advice for Investors site. Franco-Nevada (FNV.T) was recommended by a member of Ellen’s Investment Club. I decided to look at Agnico-Eagle Mines because it was on the Money Sense List of Dividend Stocks.

When I was updating my spreadsheet, I noticed this company has generally had good growth over the past 5 and 10 years. Growth is been lower this year to the end of the third quarter. Analysts are still expecting the company to cut dividends this year, but all 2024 dividends have been paid and there was no cut. 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 third quarter in 2024 and expected growth over this year.

Yr	Item	Tot. Gwth	Per Year	Gwth	Coverage
5	Revenue Growth	202.43%	24.77%	17.98%	<-12 mths
5	AEPS Growth	619.35%	48.38%	58.74%	<-12 mths
5	Net Income Growth	694.22%	51.35%	-48.21%	<-12 mths
5	Cash Flow Growth	329.55%	33.85%	36.72%	<-12 mths
5	Dividend Growth	263.64%	29.46%	0.00%	<-12 mths
5	Stock Price Growth	36.17%	6.37%	52.63%	<-12 mths
10	Revenue Growth	304.47%	15.00%	26.39%	<-this year
10	AEPS Growth	150.56%	9.62%	86.55%	<-this year
10	Net Income Growth	577.54%	21.09%	4.21%	<-this year
10	Cash Flow Growth	493.56%	19.49%	46.41%	<-this year
10	Dividend Growth	81.82%	6.16%	-10.19%	<-this year
10	Stock Price Growth	111.53%	7.78%	82.95%	<-this year

The current dividend yield is low with dividend growth good until this year. The dividend yield is low (below 2%) at 1.91%. The 5 year median yield is moderate (2% to 4% ranges) at 2.26%. The 10 year median and historical median dividend yields are low at 1.11% and 1.00%. Dividend increases over the past 5 year were good (15% and above) at 29.46% per year. However, there was no dividend increase in 2024. There has been no decrease in dividends, but analysts seem to expect the dividend to decrease over the short term, at least.

The Dividend Payout Ratios (DPR) could improve for AEPS, but the ratios for CFPS are fine. The DPR for 2023 for Earnings per Share (EPS) is good at 41% with 5 year coverage a little high at 52%. The DPR for 2023 for Adjusted Earnings per Share (AEPS) is high at 72% with 5 year coverage at 62%. The DPR for 2023 for Cash Flow per Share (CFPS) is good at 29% with 5 year coverage at 23%. The DPR for 2023 for Free Cash Flow (FCF) is high at 74% with 5 year coverage at 80%. However, there is no agreement on what the FCF is.

Item	Cur	5 Years
EPS	40.51%	51.74%
AEPS	71.75%	61.68%
CFPS	28.96%	23.89%
FCF	73.67%	80.29%

Debt Ratios are good. The Long Term Debt/Market Cap Ratio for 2023 is good at 0.25 and currently at 0.15. The Liquidity Ratio for 2023 is good at 2.09 and 1.75 currently. The Debt Ratio for 2023 is good at 3.10 and 3.20 currently. The Leverage and Debt/Equity Ratios for 2023 are good at 1.48 and 0.48 and currently at 1.45 and 0.45.

Type	Year End	Ratio Curr
Lg Term R	0.25	0.15
Intang/GW	0.15	0.10
Liquidity	2.09	1.75
Liq. + CF	3.81	3.55
Debt Ratio	3.10	3.20
Leverage	1.48	1.45
D/E Ratio	0.48	0.45

The Total Return per year is shown below for years of 5 to 20 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	28.66%	8.23%	5.72%	2.51%
2013	10	8.50%	12.26%	10.17%	2.09%
2008	15	16.27%	2.40%	1.15%	1.25%
2003	20	22.14%	9.48%	7.97%	1.51%

The Total Return per year is shown below for years of 5 to 20 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	29.46%	8.96%	6.37%	2.59%
2013	10	6.16%	9.70%	7.78%	1.92%
2008	15	15.68%	1.89%	0.59%	1.30%
2003	20	22.00%	9.51%	7.85%	1.67%

The 5-year low, median, and high median Price/Earnings per Share Ratios are 20.02, 27.95 and 34.35. The corresponding 10 year ratios are 22.67, 31.45 and 41.35. The corresponding historical ratios are 23.00, 30.98 and 40.06. The current P/E Ratio is 19.59 based on a stock price of $112.94 and EPS estimate for 2024 of $5.77 ($4.01 US$). 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. This testing is in CDN$.

I also have Adjusted Earnings per Share (data). The 5-year low, median, and high median Price/Earnings per Share Ratios are 19.55, 25.74 and 31.70. The corresponding 10 year ratios are 34.73, 44.22 and 53.72. The current P/AEPS Ratio is 18.89 based on a stock price of $78.57 and AEPS estimate for 2024 of $4.16. This ratio is below the low ratio of the 10 year median ratios. This stock price testing suggests that the stock price is relatively cheap. This testing is in US$ and you will get a similar result in CDN$.

I get a Graham Price of $88.96. The 10-year low, median, and high median Price/Graham Price Ratios are 1.50, 2.11 and 2.53. The current P/GP Rati is 1.27 based on a stock price of $112.94. The current ratio is below the low ratios of the 10 year median ratios. This stock price testing suggests that the stock price is relatively cheap. This testing is in CDN$.

I get a 10-year median Price/Book Value per Share Ratio of 2.13. The current ratio is 1.92 based on a Book Value of $20,505M, Book Value per Share of $40.89 and a stock price of $78.57. The current ratio is 10% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median. This testing is in US$ and you will get a similar result in CDN$.

I also have a Book Value per Share estimate for 2024 of $41.62. This implies a ratio of 1.89 and a Book Value of $20,873M with a stock price of $78.57. This ratio is 11% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median. This testing is in US$ and you will get a similar result in CDN$.

I get a 10-year median Price/Cash Flow per Share Ratio of 12.03. The current P/CF Ratio is 10.34 based on Cash Flow per Share estimate for 2024 of $7.60, Cash Flow of $3,809M and a stock price of $78.57. This ratio is 14% below the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable and below the median. This testing is in US$ and you will get a similar result in CDN$.

I get an historical median dividend yield of 1.00%. The current dividend yield is 2.04% based on dividends of $1.60 and a stock price of $78.57. The current dividend yield is 103% above the historical median dividend yield. This stock price testing suggests that the stock price is relatively cheap. This testing is in US$ and you will get a similar result in CDN$.

I get a 10 year median dividend yield of 1.11%. The current dividend yield is 2.04% based on dividends of $1.60 and a stock price of $78.57. The current dividend yield is 83% above the 10 year median dividend yield. This stock price testing suggests that the stock price is relatively cheap. This testing is in US$ and you will get a similar result in CDN$.

The 10-year median Price/Sales (Revenue) Ratio is 4.24. The current P/S Ratio is 4.70 based on Revenue estimate for 2024 of $8,376M, Revenue per Share of $16.70 and a stock price of $78.57. The current ratio is 11% above the 10 year median ratio. This stock price testing suggests that the stock price is relatively reasonable but above the median. This testing is in US$ and you will get a similar result in CDN$.

Results of stock price testing is that the stock price is probably reasonable, but it might be cheap. The dividend yield tests are saying that the stock price is relatively cheap. However, the P/S Ratio test does not confirm this and is showing the stock price as relatively reasonable. The rest of the testing is showing the stock price as relatively cheap or reasonable.

When I look at analysts’ recommendations, I find Strong Buy (9), Buy (7), Hold (1), Sell (1). The consensus is a Strong Buy. The 12 months stock price consensus is $144.15 ($100.35 US$) with a high of $182.22 ($126.85 US$) and low of $83.32 ($58.00 US). The consensus stock price of $144.15 implies a total return of 29.67% with 27.64% from capital gains and 2.04% from dividends.

There are quite a few analysts on Stock Chase following this stock. They do like the company and most say it is a buy, but a couple say that they are worried about where the price of gold might be going. Stock Chase give this stock 5 stars out of 5. Joey Frenette on Motley Fool recommends this stock as a top mining gold stock. Adam Othman on Motley Fool thinks that gold will finish year on a strong note and he recommendations this stock. The company put out a Press Release about their fourth quarter of 2023. The company put out a Press Release about their third quarter of 2024.

Insider Monkey via Yahoo Finance has a review on this stock.

Agnico Eagle is a gold miner with mines in Canada, Mexico, Finland, and Australia. Its web site is here Agnico Eagle Mines Ltd . Simply Wall Street has 3 warnings on this stock of profit margins (12.9%) are lower than last year (40.1%); large one-off items impacting financial results; and significant insider selling over the past 3 months.

The last stock I wrote about was about was be KP Tissue Inc (TSX-KPT, OTC-KPTSF) ... learn more. The next stock I will write about will be Titanium Transportation Group Inc (TSX-TTNM, OTCQX-TTNMF) ... learn more on December 25, 2024 around 5 pm. Tomorrow on my other blog I will write about Capital Compounders Show.... learn more on Tuesday, December 24, 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.

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.

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