Canadian Pacific Railway Ltd
Buy, Hold or Sell?

Let's analyse Canadian Pacific Railway Ltd together

Penke I guess you are interested in Canadian Pacific Railway Ltd. Buy, hold or sell? I don't know! However, I do recommend doing research before doing anything. I will help you with that.

I'm going to help you getting a better view of Canadian Pacific Railway Ltd. At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

You can find me behind Let's Analyse Together in the top-right of each section.

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Quick analysis of Canadian Pacific Railway Ltd (30 sec.)

What can you expect buying and holding a share of Canadian Pacific Railway Ltd? (30 sec.)

How much money do you get?

$0.51

When do you have the money?

1 year

How often do you get paid?

100.0%

What is your share worth?

Current worth

$32.86

Expected worth in 1 year

$35.57

How sure are you?

77.5%

+ What do you gain per year?

Total Gains per Share

$3.23

Return On Investment

3.8%

For what price can you sell your share?

Current Price per Share

$83.93

Expected price per share

$79.20 - $91.24

How sure are you?

50%

1. Valuation of Canadian Pacific Railway Ltd (5 min.)

Live pricePrice per Share (EOD)

$83.93

Book Value per Share

$32.86

Intrinsic Value Per Share

$1.23 - $17.15

Total Value Per Share

$34.09 - $50.01

My calculation of the intrinsic value of Canadian Pacific Railway Ltd is based how much money is coming from the company's main activities (Free Cash Flow).

The following numbers are based on moving averages and per share and per quarter.
I use a 6% discount rate for the low estimation and 3% for the high estimation.
The current Free Cash Flow Per Share is 10Y: ($0.26) 3Y: ($0.40) TTM: ($0.29)
The change per quarter (trend) of the Free Cash Flow Per Share is 10Y: ($0.00) 3Y: ($-0.01) TTM: ($-0.14)

Years	Total Low est.	Total High est.	Added Free Cash Flow
1	$0.88	$1.63	$0.84 - $1.69
2	$1.54	$3.28	$0.65 - $1.76
3	$2.00	$4.96	$0.47 - $1.84
4	$2.28	$6.66	$0.28 - $1.92
5	$2.41	$8.37	$0.10 - $2.00
6	$2.40	$10.11	$-0.09 - $2.08
7	$2.26	$11.85	$-0.27 - $2.15
8	$2.01	$13.61	$-0.46 - $2.23
9	$1.66	$15.37	$-0.65 - $2.31
10	$1.23	$17.15	$-0.83 - $2.39

2. Growth of Canadian Pacific Railway Ltd (5 min.)

Is Canadian Pacific Railway Ltd growing?

	Current year	Previous year	Grow	Grow %
How rich?	$30.6b	$26.4b	$3.4b	11.6%

How much money is Canadian Pacific Railway Ltd making?

	Current year	Previous year	Grow	Grow %
Making money	$710.2m	$636.1m	$74.1m	10.4%
Net Profit Margin	31.9%	39.3%	-	-

How much money comes from the company's main activities?

Quarterly Yearly

3. Financial Health of Canadian Pacific Railway Ltd (5 min.)

4. Comparing to competitors in the Railroads industry (5 min.)

Industry Rankings (Railroads)

Richest
#3 / 93

Most Revenue
#22 / 93

Most Profit
#6 / 93

Most Efficient
#3 / 93

What can you expect buying and holding a share of Canadian Pacific Railway Ltd? (5 min.)

Welcome investor! Canadian Pacific Railway Ltd's management wants to use your money to grow the business. In return you get a share of Canadian Pacific Railway Ltd.

What can you expect buying and holding a share of Canadian Pacific Railway Ltd?

First you should know what it really means to hold a share of Canadian Pacific Railway Ltd. And how you can make/lose money.

Speculation

The Price per Share of Canadian Pacific Railway Ltd is $83.93. The market price reflects what other people think it is worth; not what it's really worth. Your job is to find out if the market price is fair, overpriced, or underpriced. I will help you with that.

If you buy blind, there is a 50% chance of making or losing money by selling the stock in the future. However, we can look at a few things to determine the odds in our favor:

The fundamentals: the financial health trends of Canadian Pacific Railway Ltd.
The technials: based on market psychology, we can make a calculated estimate of what the price will do in the future. We can do this through technical analysis. We can calculate the probabilities and the expected value (millionaire math). That's called speculation.
The book value: what is the market price compared to it's book value.

Investing

If you really want to invest in Canadian Pacific Railway Ltd, you will have to let go of the thought of selling in the future. If you have to sell the share for less than you bought it, it can still be a good investment. Focus on what it means to hold the stock forever:

You own a part of the company. The equity of this part can grow or shrink. The current Book Value per Share is $32.86. Based on the TTM, the Book Value Change Per Share is $0.68 per quarter. Based on the YOY, the Book Value Change Per Share is $0.98 per quarter.
You may receive quarterly/yearly dividend in the form of additional shares.
You may receive quarterly/yearly dividend in the form of cash. Based on the TTM the Dividend per Share is $0.13 per quarter.

Based on historical numbers we can estimate the returns while holding a share of Canadian Pacific Railway Ltd.

How much money are you going to get?

	MRQ		TTM		YOY		5Y		10Y
	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share
Usd Eps	0.79	0.9%	0.66	0.8%	0.68	0.8%	0.56	0.7%	0.41	0.5%
Usd Book Value Change Per Share	0.12	0.1%	0.68	0.8%	0.98	1.2%	1.39	1.7%	0.68	0.8%
Usd Dividend Per Share	0.10	0.1%	0.13	0.2%	0.14	0.2%	0.11	0.1%	0.08	0.1%
Usd Total Gains Per Share	0.23	0.3%	0.81	1.0%	1.11	1.3%	1.49	1.8%	0.76	0.9%
Usd Price Per Share	79.06	-	77.80	-	73.42	-	162.14	-	163.83	-
Price to Earnings Ratio	24.94	-	30.04	-	29.39	-	92.98	-	147.82	-
Price-to-Total Gains Ratio	346.99	-	150.52	-	123.07	-	35,961,652,442,701,068.00	-	17,980,826,221,351,152.00	-
Price to Book Ratio	2.41	-	2.43	-	2.61	-	23.51	-	30.52	-
Price-to-Total Gains Ratio	346.99	-	150.52	-	123.07	-	35,961,652,442,701,068.00	-	17,980,826,221,351,152.00	-

When do you get the money?

Usd Investment	$.00
Usd Price Per Share	83.93
Number of shares	11

Gains per Quarter	Trailing 12 Months	5 Year
Usd Dividend Per Share	0.13	0.11
Usd Book Value Change Per Share	0.68	1.39
Usd Total Gains Per Share	0.81	1.49
Gains per Quarter (11 shares)	8.87	16.42
Gains per Year (11 shares)	35.48	65.67

Years	Return on Investment (TTM)			Return on Investment (5Y)
	Dividend	Book Value gain	Total gains	Dividend	Book Value gain	Total gains
Broker costs	-	-	-10	-	-	-10
1	6	30	25	5	61	56
2	11	60	60	9	122	122
3	17	89	95	14	183	188
4	23	119	130	19	244	254
5	28	149	165	24	305	320
6	34	179	200	28	366	386
7	40	209	235	33	427	452
8	45	239	270	38	488	518
9	51	268	305	42	549	584
10	57	298	340	47	610	650

How sure are you?

Based on the past periods, how sure are you to get value out of your investment.

Linear %

	Trailing 12 Months				3Y				5 Year				10 Year				ALLTIME
				%				%				%				%				%
Earnings Per Share	4.0	0.0	0.0	100.0%	12.0	0.0	0.0	100.0%	20.0	0.0	0.0	100.0%	40.0	0.0	0.0	100.0%	95.0	0.0	0.0	100.0%
Book Value Change Per Share	4.0	0.0	0.0	100.0%	12.0	0.0	0.0	100.0%	17.0	3.0	0.0	85.0%	26.0	14.0	0.0	65.0%	73.0	22.0	0.0	76.8%
Dividend per Share	4.0	0.0	0.0	100.0%	12.0	0.0	0.0	100.0%	20.0	0.0	0.0	100.0%	40.0	0.0	0.0	100.0%	95.0	0.0	0.0	100.0%
Total Gains per Share	4.0	0.0	0.0	100.0%	12.0	0.0	0.0	100.0%	18.0	2.0	0.0	90.0%	31.0	9.0	0.0	77.5%	80.0	15.0	0.0	84.2%

Fundamentals of Canadian Pacific Railway Ltd

About Canadian Pacific Railway Ltd

https://www.cpkcr.com
Railroads
19927
7550 Ogden Dale Road S.E., Calgary, AB, Canada, T2C 4X9
Google Maps Bing Maps

Canadian Pacific Kansas City Limited, together with its subsidiaries, owns and operates a transcontinental freight railway in Canada, the United States, and Mexico. The company transports bulk commodities, including grain, coal, potash, fertilizers, and sulphur; merchandise freight, such as forest products, energy, chemicals and plastics, metals, minerals, consumer products, and automotive; and intermodal traffic comprising retail goods in overseas containers. It also provides rail and intermodal transportation services over a network of approximately 20,000 miles serving business centres. The company was formerly known as Canadian Pacific Railway Limited and changed its name to Canadian Pacific Kansas City Limited in April 2023. Canadian Pacific Kansas City Limited was incorporated in 1881 and is headquartered in Calgary, Canada.

Fundamental data was last updated by Penke on 2024-04-09 09:53:03.

Financial Health

Profitability Details

	Compared to previous year	Compared to industry
The company is making a huge profit.
Using its assets, the company is less efficient in making profit.
Using its investors money, the company is inefficient in making profit.

Operating Efficiency Details

	Compared to previous year	Compared to industry
The company is operating very efficient.
The company is efficient in keeping operating costs low.

Liquidity Details

	Compared to previous year	Compared to industry
The company is unable to pay all its short-term debts.
The company is just not able to pay all its short-term debts with the most liquid assets.

Solvency Details

	Compared to previous year	Compared to industry
The company is very able to pay all its debts by selling its assets.
The company is very able to pay all its debts with equity.

Valuation

Valuation Details

	Compared to previous year	Compared to industry
Based on the equity, the company is underpriced.
Based on the earnings, the company is overpriced.
Based on how much money comes from the company's main activities, the company is overpriced.

1.1. Profitability of Canadian Pacific Railway Ltd.

1.1. Profitability

1.1.1. Net Profit Margin

Measures how much net profit Canadian Pacific Railway Ltd earns for each $1 of revenue.

Above 10% is considered healthy but always compare Canadian Pacific Railway Ltd to the Railroads industry mean.
A Net Profit Margin of 27.1% means that $0.27 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Canadian Pacific Railway Ltd:

The MRQ is 27.1%. The company is making a huge profit. +2
The TTM is 31.9%. The company is making a huge profit. +2

Trends

Current period		Compared to		+/-
MRQ	27.1%	TTM	31.9%	-4.8%
TTM	31.9%	YOY	39.3%	-7.4%
TTM	31.9%	5Y	33.9%	-2.0%
5Y	33.9%	10Y	30.0%	+3.9%

Compared to industry (Railroads)

Period	Company	Industry (mean)	+/-
MRQ	27.1%	5.6%	+21.5%
TTM	31.9%	6.1%	+25.8%
YOY	39.3%	6.5%	+32.8%
5Y	33.9%	5.0%	+28.9%
10Y	30.0%	6.7%	+23.3%

Measures how much net profit Canadian Pacific Railway Ltd earns for each $1 of revenue.

Revenue is the amount of profit Canadian Pacific Railway Ltd generates before taxes and all other costs. For example, when you buy a cup of coffee it will cost you $3. The company does not earn $3 in profit but also has to pay various costs and taxes to create that cup of coffee. Let's assume the cost of creating a cup of coffee is $1.5.

The $3 you pay for a cup of coffee is called revenue.
The $1.5 that’s left over when all costs to create that cup of coffee (including taxes) are deduced from the revenue is called net profit.

The net profit margin looks at how much net profit Canadian Pacific Railway Ltd earns for each $1 in revenue.

How to use net profit margin

Higher profit margin is better (more profit).
Above 10% is considered healthy but always compare Canadian Pacific Railway Ltd to the Railroads industry mean.
Can be used to compare companies within the Railroads industry.

You typically want a high profit margin. This means that for each $1 in sales, Canadian Pacific Railway Ltd makes more profit. This shows the investor how efficiently Canadian Pacific Railway Ltd is operating in general and compared to other companies in the same industry. Canadian Pacific Railway Ltd operates in the Railroads industry.

Why do investors use net profit margin in their analysis

It helps investors to determine the efficiency of Canadian Pacific Railway Ltd. If profit margins remain low (compared to the Railroads industry mean) and there are no improvements to make in production costs or other areas that might be a warning sign. If profit margins are high that means the company has low overhead costs and is efficiently using its resources to generate profit.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Net Profit Margin of Canadian Pacific Railway Ltd is 0.27. This means that Canadian Pacific Railway Ltd earned $0.27 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Net Profit Margin of the Railroads industry is 5.6%.
What is the trend?
The trend is important because it shows you how Canadian Pacific Railway Ltd is performing over time. The most recent quarter might be important if Canadian Pacific Railway Ltd released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Canadian Pacific Railway Ltd up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare Canadian Pacific Railway Ltd with other companies in the same industry (Railroads).
Net profit margin should rise over the years.
Can be influenced when Canadian Pacific Railway Ltd sells assets (profit will increase while costs remain the same).
It won’t show what part of Canadian Pacific Railway Ltd is doing great or needs improvement (it only looks at total revenue and total net income).

How to calculate net profit margin

Net profit margin = net income / total revenue * 100%

Real example of Canadian Pacific Railway Ltd

You need the following data to determine net profit margin:

Income statement from the period you want to calculate (for example, MRQ or TTM).

Net income MRQ Canadian Pacific Railway Ltd = 1,023,000
Total revenue MRQ Canadian Pacific Railway Ltd = 3,776,000
$1,023,000 / $3,776,000 = 0.27 or 27.1%

Higher is better

The higher the net profit margin, the more efficient the company is generating income. This helps investors to determine how the company is managing money. The net profit margin is an important indicator when diving into the financial health of a company. Overall, you want to see the net profit margin rising over the years. That means the company improved their production and made it more efficient (if possible).

You can use the net profit margin to compare companies within the same industry. If there are two companies where one is much bigger but the smaller one has a higher net profit margin, that means the smaller company is more efficiently using operational costs.

Important: Profit margins can be very different between industries. Companies with assembly lines or transports are much more prone to see shifting in prices for fuel, ingredients and maintenance compared to companies that only provide services. You should never compare net profit margin between different industries.

1.1.2. Return on Assets

Shows how efficient Canadian Pacific Railway Ltd is using its assets to generate profit.

Above 5% is considered healthy but always compare Canadian Pacific Railway Ltd to the Railroads industry mean.
1.3% Return on Assets means that Canadian Pacific Railway Ltd generated $0.01 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Canadian Pacific Railway Ltd:

The MRQ is 1.3%. Using its assets, the company is less efficient in making profit.
The TTM is 1.3%. Using its assets, the company is less efficient in making profit.

Trends

Current period		Compared to		+/-
MRQ	1.3%	TTM	1.3%	+0.0%
TTM	1.3%	YOY	1.2%	+0.0%
TTM	1.3%	5Y	2.1%	-0.8%
5Y	2.1%	10Y	2.2%	-0.1%

Compared to industry (Railroads)

Period	Company	Industry (mean)	+/-
MRQ	1.3%	1.5%	-0.2%
TTM	1.3%	1.7%	-0.4%
YOY	1.2%	1.6%	-0.4%
5Y	2.1%	1.9%	+0.2%
10Y	2.2%	2.5%	-0.3%

Shows how efficient Canadian Pacific Railway Ltd is using its assets to generate profit.

For a farm, a tractor is considered an asset. The tractor helps ploughing the land making it possible to plant and harvest crops. But the tractor might be old and needing maintenance all the time reducing its efficiency. Return on assets indicates how effectively the farm is using the tractor (and other assets that help the core business) to plough the land.

How to use return on assets

Higher is better.
Above 5% is considered healthy but always compare Canadian Pacific Railway Ltd to the Railroads industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on assets in their analysis

Shows the investor how effectively Canadian Pacific Railway Ltd is using its resources to generate profit. If the return on assets (1.3%) from Canadian Pacific Railway Ltd are higher than the Railroads mean (1.5%) that means Canadian Pacific Railway Ltd is using its resources better than their competitors. If not, that means their competitors are more efficient in using their resources to generate profit.

An investor should always look at:

What is the current return on assets?
The current most recent quarter (MRQ) Return on Assets of Canadian Pacific Railway Ltd is 1.3%. This means the company generated $0.01 for each $1 in assets.
How does it compare to the industry?
The mean MRQ Return on Assets of the Railroads industry is 1.5%.
What is the trend?
The trend is important because it shows you how Canadian Pacific Railway Ltd is performing over time. The most recent quarter might be important if Canadian Pacific Railway Ltd released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Canadian Pacific Railway Ltd up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
If a company has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

How to calculate return on assets

Return on assets = net income / total assets * 100%

Real example Canadian Pacific Railway Ltd

You need the following data to determine return on assets (ROA):

Income statement
Balance sheet

Net income MRQ (income statement) from Canadian Pacific Railway Ltd = 1,023,000
Total assets MRQ (balance sheet) from Canadian Pacific Railway Ltd = 79,902,000
1,023,000 / 79,902,000 = 0.01 or 1.3%

ROA is an important ratio as it will tell you how effectively Canadian Pacific Railway Ltd is using its resources to generate profits. Example:

Bob and Kristin both sell ice cream in the summer. They both have an ice cream truck. The truck Bob owes cost him $20.000 and the truck Kristin owes cost her $1500. Over the summer, Bob earned $2000 and Kristin earned $200. To calculate the return on assets:

Bob: $2000 / $20.000 * 100% = 10%
Kristin: $200 / $1500 * 100% = 13.3%

This tells you Bob’s company is more valuable but Kristin's company is more efficient. Be aware that total assets can change over time. A transportation business will buy and sell trucks or planes all the time. Before using return on assets as a guideline, you have to know what the exact assets are. For a company that has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

1.1.3. Return on Equity

Shows how efficient Canadian Pacific Railway Ltd is using its investors money to generate profit.

Above 15%-20% is considered healthy but always compare Canadian Pacific Railway Ltd to the Railroads industry mean.
2.5% Return on Equity means Canadian Pacific Railway Ltd generated $0.02 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Canadian Pacific Railway Ltd:

The MRQ is 2.5%. Using its investors money, the company is inefficient in making profit. -1
The TTM is 2.4%. Using its investors money, the company is inefficient in making profit. -1

Trends

Current period		Compared to		+/-
MRQ	2.5%	TTM	2.4%	+0.0%
TTM	2.4%	YOY	2.4%	+0.0%
TTM	2.4%	5Y	5.7%	-3.3%
5Y	5.7%	10Y	6.7%	-1.0%

Compared to industry (Railroads)

Period	Company	Industry (mean)	+/-
MRQ	2.5%	4.0%	-1.5%
TTM	2.4%	3.6%	-1.2%
YOY	2.4%	4.1%	-1.7%
5Y	5.7%	4.5%	+1.2%
10Y	6.7%	5.0%	+1.7%

Shows how efficient Canadian Pacific Railway Ltd is using its investors money to generate profit.

A publicly traded company (any company that issues shares to the public) is owned by its shareholders. Return on equity calculates the amount of profit for every $1 the shareholders invested.

How to use return on equity

Higher is better.
Above 15%-20% is considered healthy but always compare Canadian Pacific Railway Ltd to the Railroads industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on equity in their analysis

To find out the owners/management's attitude toward their company. You typically want the owners/management to invest in the company and focus on generating profit. If not enough profit is generated (compared to the Railroads industry mean), the company might not be investing their money efficiently.

The three steps every investor should look at:

What is the current return on equity?
The current most recent quarter (MRQ) Return on Equity of Canadian Pacific Railway Ltd is 2.5%. This means Canadian Pacific Railway Ltd generated $0.02 for each $1 the owners (shareholders) invested.
How does it compare to the industry?
The mean MRQ Return on Equity of the Railroads industry is 4.0%.
What is the trend?
The trend is important because it shows you how Canadian Pacific Railway Ltd is performing over time. The most recent quarter might be important if Canadian Pacific Railway Ltd released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Canadian Pacific Railway Ltd up to 10 years back (depending if Canadian Pacific Railway Ltd existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Does not include intangible assets (non physical assets like licences, computer software, etc.).
Stockholders equity and shareholders equity refer to the same thing.
Liabilities should not be more than three times return on equity.

How to calculate return on equity

Return on equity = net profit / shareholders equity * 100%

Real example of Canadian Pacific Railway Ltd

You need the following data to determine ROE:

Income statement
Balance sheet
Net profit MRQ (income statement) Canadian Pacific Railway Ltd = 1,023,000
Shareholders equity (balance sheet) MRQ Canadian Pacific Railway Ltd = 41,492,000
1,023,000 / 41,492,000 = 0.02 or 2.5%

A negative shareholder equity is a warning sign. It means the company has more liabilities than assets. It might also mean that the owners did not invest enough money or they are taking money out of the business.

1.2. Operating Efficiency of Canadian Pacific Railway Ltd.

1.2. Operating Efficiency

1.2.1. Operating Margin

Measures how efficient Canadian Pacific Railway Ltd is operating .

Measures how much profit Canadian Pacific Railway Ltd makes for each $1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
Above 15% is considered healthy but always compare Canadian Pacific Railway Ltd to the Railroads industry mean.
An Operating Margin of 40.5% means the company generated $0.41 for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Canadian Pacific Railway Ltd:

The MRQ is 40.5%. The company is operating very efficient. +2
The TTM is 39.9%. The company is operating very efficient. +2

Trends

Current period		Compared to		+/-
MRQ	40.5%	TTM	39.9%	+0.6%
TTM	39.9%	YOY	54.1%	-14.2%
TTM	39.9%	5Y	46.0%	-6.1%
5Y	46.0%	10Y	43.1%	+2.9%

Compared to industry (Railroads)

Period	Company	Industry (mean)	+/-
MRQ	40.5%	9.2%	+31.3%
TTM	39.9%	8.8%	+31.1%
YOY	54.1%	7.6%	+46.5%
5Y	46.0%	6.3%	+39.7%
10Y	43.1%	8.5%	+34.6%

Measures how efficient Canadian Pacific Railway Ltd is operating .

The more effecient a company creates products or provides services, the more profit it generates.

How to use operating margin

Higher is better
Above 15% is considered healthy but always compare Canadian Pacific Railway Ltd to the Railroads industry mean.
Can be very different between industries
Can be used to compare companies

Why do investors use operating margin in their analysis

To determine how much profit Canadian Pacific Railway Ltd is making from it’s core business.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Operating Margin of Canadian Pacific Railway Ltd is 40.5%. This means that Canadian Pacific Railway Ltd earned $0.41 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Margin of the Railroads industry is 9.2%.
What is the trend?
The trend is important because it shows you how Canadian Pacific Railway Ltd is performing over time. The most recent quarter might be important if Canadian Pacific Railway Ltd released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Canadian Pacific Railway Ltd up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Can be calculated in different ways

How to calculate operating margin

Operating margin = operating earnings / total revenue

Real example of Canadian Pacific Railway Ltd

You need the following data to determine operating margin:

Income statement
Operating earnings MRQ Canadian Pacific Railway Ltd = 1,442,000
Total revenue MRQ Canadian Pacific Railway Ltd = 3,776,000
$1,442,000 / $3,776,000 = 0.41 or 40.5%

Operating margin is used to calculate how much profit a company makes after variable costs of production but before paying interest and taxes. Some variable costs examples are wages, raw materials, packaging, and transaction fees. The amount of variable costs is different for each company and industry. In general, a higher operating margin is better as this implicates that a company is running efficiently.

For investors, a higher operating margin is a good sign. Although you should always look at operating margin in the long term. If operating margin is fluctuating over the years this might be a sign that things are not running efficiently enough. It’s a way to check how much profit a company is making from its core business.

Operation earnings can be calculated in multiple ways:

Operation earnings = EBIT - non operating income + non operating expense
Operation earnings = Gross profit - operating expense - depreciation and amortisation
Operation earnings = Total revenue - COGS (costs of goods sold) - indirect costs

1.2.2. Operating Ratio

Measures how efficient Canadian Pacific Railway Ltd is keeping operating costs low.

Below 1 is considered healthy (always compare to Railroads industry mean).
An Operation Ratio of 0.62 means that the operating costs are $0.62 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of Canadian Pacific Railway Ltd:

The MRQ is 0.619. The company is efficient in keeping operating costs low. +1
The TTM is 0.642. The company is efficient in keeping operating costs low. +1

Trends

Current period		Compared to		+/-
MRQ	0.619	TTM	0.642	-0.023
TTM	0.642	YOY	0.599	+0.043
TTM	0.642	5Y	0.601	+0.041
5Y	0.601	10Y	0.604	-0.003

Compared to industry (Railroads)

Period	Company	Industry (mean)	+/-
MRQ	0.619	1.241	-0.622
TTM	0.642	1.190	-0.548
YOY	0.599	1.250	-0.651
5Y	0.601	1.202	-0.601
10Y	0.604	1.127	-0.523

Measures how efficient Canadian Pacific Railway Ltd is keeping operating costs low.

If the operating ratio is below 1 that means the company is making money. The lower the operating ratio, the more efficient the company.

How to use operating ratio

Lower is better.
Below 1 is considered healthy but always compare Canadian Pacific Railway Ltd to the Railroads industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use operating ratio in their analysis

Shows if costs of creating products and or services is increasing or decreasing. The lower the operating ratio, the more efficient the company is creating products and services.

The three steps every investor should look at:

What is the current Operatin ratio?
The current most recent quarter (MRQ) Operating Ratio of Canadian Pacific Railway Ltd is 61.9%. This means that Canadian Pacific Railway Ltd earned $0.62 for each $1 in net sales in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Ratio of the Railroads industry is 1.24.
What is the trend?
The trend is important because it shows you how Canadian Pacific Railway Ltd is performing over time. The most recent quarter might be important if Canadian Pacific Railway Ltd released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Canadian Pacific Railway Ltd up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
You need COGS to calculate operating ratio which is not always shown in the income statement.
Does not consider debt.

How to calculate operating ratio

Operating ratio = Operating expenses + COGS \ Net sales

Real life example Canadian Pacific Railway Ltd

You need the following data to determine operating ratio:

Income statement

COGS is not always specified on the income statement. If so you can use the following calculation:

(cost of revenue + total operating expenses) \ total revenue
(1,784,000 +552,000) \ 3,776,000 = 0.62

The operating ratio measures the efficiency of a company at keeping low costs while generating profits from sales. It compares the total operating expenses to the net amount of sales. The total operating expenses exists of:

COGS (materials, labour, rent of facility, repairs)
Operating expenses (legal fees, marketing, wages, rent, maintenance/repairs)

Operating expenses are all the costs the company makes that are not directly tied to the production of the service or product. Where COGS are costs that are directly tied to the production of a product or service.

Do note that COGS is not always available in the income statement. Some companies include COGS in the operating expenses while others list COGS separately. To make it even more confusing, COGS is also known as “costs of sales” and costs of sales is the same as costs of revenue.

The operating ratio tells you how efficient the company is creating its products or services while keeping prices low. In this case, a lower ratio is better. Higher or rising operating ratios might tell you that costs are rising while sales are not improving or staying the same.

1.3. Liquidity of Canadian Pacific Railway Ltd.

1.3. Liquidity

1.3.1. Current Ratio

Measures if Canadian Pacific Railway Ltd is able to pay off Short-term Debt.

Above 1.5 is considered healthy (always compare to Railroads industry mean).
A Current Ratio of 0.53 means the company has $0.53 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of Canadian Pacific Railway Ltd:

The MRQ is 0.526. The company is unable to pay all its short-term debts. -2
The TTM is 0.641. The company is unable to pay all its short-term debts. -2

Trends

Current period		Compared to		+/-
MRQ	0.526	TTM	0.641	-0.115
TTM	0.641	YOY	0.529	+0.112
TTM	0.641	5Y	0.596	+0.044
5Y	0.596	10Y	0.730	-0.134

Compared to industry (Railroads)

Period	Company	Industry (mean)	+/-
MRQ	0.526	1.277	-0.751
TTM	0.641	1.324	-0.683
YOY	0.529	1.471	-0.942
5Y	0.596	1.296	-0.700
10Y	0.730	1.260	-0.530

Measures if Canadian Pacific Railway Ltd is able to pay off Short-term Debt.

How to use current ratio

Higher is better
Above 1.5 is considered healthy (always compare to Railroads industry mean).
Can be very different between industries
Can be used to compare companies

Why do investors use current ratio in their analysis

Shows if the company can pay of short term debts if needed. A company that can't pay off it's short term debts might get in trouble if they have to pay off their short term debts for whatever reason. For example, markets can change due to global events like covid-19 or the war in Ukraine versus Russia. Because debts are always taken based on future income, it might become troublesome for Canadian Pacific Railway Ltd if something happens in the market that will cause sales to plummet.

The three steps every investor should look at:

What is the current current Ratio?
The current most recent quarter (MRQ) Current Ratio of Canadian Pacific Railway Ltd is 0.53. This means Canadian Pacific Railway Ltd has $0.53 in assets for each $1 in short-term debts.
How does it compare to the industry?
The mean MRQ Current Ratio of the Railroads industry is 1.28.
What is the trend?
The trend is important because it shows you how Canadian Pacific Railway Ltd is performing over time. The most recent quarter might be important if Canadian Pacific Railway Ltd released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Canadian Pacific Railway Ltd up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Might be deluded.
Not all assets can always be quickly sold.
Can be manipulated by increasing or decreasing the assets and/or liabilities.

How to calculate current ratio

Current ratio = current assets \ current liabilities

Real life example Canadian Pacific Railway Ltd

You need the following data to determine operating ratio:

Balance sheet
Current ratio = current assets \ current liabilities
3,002,000 \ 5,710,000) = 0.53

The current ratio measures if Canadian Pacific Railway Ltd is able to pay short-term debts (obligations). Short term in this context means all debt obligations that are about to expire within one year. The current ratio incorporates current liabilities and current assets. Current assets are all the assets a company has that are expected to be consumed or sold within standard business operations. You can find the current assets in the balance sheet. They consist of:

Inventory
Accounts receivable
Marketable securities
Prepaid expenses
Cash
Cash equivalents
liquid assets

The current liabilities are short term obligations that are due within one year. These consist of:

Short term debts
Dividends
Income taxes
Short-term debts
Accounts payable
Interest payments

The result shows an investor if Canadian Pacific Railway Ltd is able to pay all its short-term debts if they were due all at once. When the result of the above formula is below 1, then Canadian Pacific Railway Ltd does not have enough capital after selling all its assets to pay all short-term debts. If the ratio drops far below 1 that might indicate Canadian Pacific Railway Ltd is or will be in financial trouble anytime soon.

Although this gives an investor some clues, the current ratio may also be deluded. Because owning assets does not mean the company can easily sell them. Also, Accounts receivable may be quite old (they will probably never pay) which deludes the current ratio. As with all ratios, you should only compare them between the same industries and companies.

1.3.2. Quick Ratio

Measures if Canadian Pacific Railway Ltd is able to pay off Short-term Debt but only using the most liquid assets.

Above 1 is considered healthy but always compare Canadian Pacific Railway Ltd to the Railroads industry mean.
A Quick Ratio of 0.41 means the company can pay off $0.41 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Canadian Pacific Railway Ltd:

The MRQ is 0.412. The company is just not able to pay all its short-term debts with the most liquid assets. -1
The TTM is 0.524. The company is just not able to pay all its short-term debts with the most liquid assets. -1

Trends

Current period		Compared to		+/-
MRQ	0.412	TTM	0.524	-0.112
TTM	0.524	YOY	3.639	-3.115
TTM	0.524	5Y	0.928	-0.404
5Y	0.928	10Y	0.792	+0.136

Compared to industry (Railroads)

Period	Company	Industry (mean)	+/-
MRQ	0.412	0.619	-0.207
TTM	0.524	0.658	-0.134
YOY	3.639	0.758	+2.881
5Y	0.928	0.782	+0.146
10Y	0.792	0.792	0.000

Measures if Canadian Pacific Railway Ltd is able to pay off Short-term Debt but only using the most liquid assets.

How to use quick ratio

Higher is better.
Above 1 is considered healthy but always compare Canadian Pacific Railway Ltd to the Railroads industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use quick ratio in their analysis

Shows how fast Canadian Pacific Railway Ltd can pay off its short term debts. This shows if Canadian Pacific Railway Ltd can survive emergencies due to market changes or other reasons.

The three steps every investor should look at:

What is the current Quick Ratio?
The current most recent quarter (MRQ) quickRatio of Canadian Pacific Railway Ltd is 0.41. This means that Canadian Pacific Railway Ltd can pay off $0.41 for each $1 in debt (using most liquid assets).
How does it compare to the industry?
The mean MRQ Quick Ratio of the Railroads industry is 0.62.
What is the trend?
The trend is important because it shows you how Canadian Pacific Railway Ltd is performing over time. The most recent quarter might be important if Canadian Pacific Railway Ltd released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Canadian Pacific Railway Ltd up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Incorporates only most liquid assets.

How to calculate quick ratio

Quick ratio = cash and equivalents + marketable securities + accounts receivable / current liabilities

Real life example Canadian Pacific Railway Ltd

You need the following data to determine operating ratio:

Balance sheet
Quick ratio = cash and short-term investments + short-term investments + netReceivables / total current liabilities
MRQ quick ratio Canadian Pacific Railway Ltd: (464,000 + 0 +1,887,000) / 5,710,000 = 0.41

The quick ratio measures the same thing as the current ratio, only it uses the most liquid assets a company has. Meaning, the assets that can be sold for cash the easiest and fastest.

As the quick ratio only incorporates the most liquid assets, you should also check the current ratio which also includes less liquid assets. But they may be harder to sell.

1.4. Solvency of Canadian Pacific Railway Ltd.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Measures how much % of Canadian Pacific Railway Ltd assets are financed with debt.

Below 1 (100%) is considered healthy but always compare Canadian Pacific Railway Ltd to Railroads industry mean.
A Debt to Asset Ratio of 0.47 means that Canadian Pacific Railway Ltd assets are financed with 46.9% credit (debt) and the remaining percentage (100% - 46.9%) is financed by its owners/shareholders.

Let's take a look of the Debt to Asset Ratio trends of Canadian Pacific Railway Ltd:

The MRQ is 0.469. The company is very able to pay all its debts by selling its assets. +2
The TTM is 0.473. The company is very able to pay all its debts by selling its assets. +2

Trends

Current period		Compared to		+/-
MRQ	0.469	TTM	0.473	-0.004
TTM	0.473	YOY	0.487	-0.014
TTM	0.473	5Y	0.589	-0.116
5Y	0.589	10Y	0.642	-0.053

Compared to industry (Railroads)

Period	Company	Industry (mean)	+/-
MRQ	0.469	0.528	-0.059
TTM	0.473	0.546	-0.073
YOY	0.487	0.521	-0.034
5Y	0.589	0.543	+0.046
10Y	0.642	0.531	+0.111

Measures how much % of Canadian Pacific Railway Ltd assets are financed with debt.

When there are more debts than assets, that means creditors have a larger stake Canadian Pacific Railway Ltd than its shareholders.

How to use debt to asset ratio

Lower is better.
below 1 (100%) is considered healthy but always compare Canadian Pacific Railway Ltd to Railroads industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to asset ratio in their analysis

It shows how much debt the company used to finance its assets. If a company is almost entirely financed with debt that means the company might get into serious trouble when emergencies arise like a raise in interest.

The three steps every investor should look at:

What is the current debt to asset ratio?
The current most recent quarter (MRQ) Debt to Asset Ratio of Canadian Pacific Railway Ltd is 0.47. This means means that Canadian Pacific Railway Ltd is financed with 46.9% credit and the remaining percentage is financed by it's owners (shareholders).
How does it compare to the industry?
The mean MRQ Current Ratio of the Railroads industry is 127.7%.
What is the trend?
The trend is important because it shows you how Canadian Pacific Railway Ltd is performing over time. The most recent quarter might be important if Canadian Pacific Railway Ltd released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Canadian Pacific Railway Ltd up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Some companies can have higher debt to assets ratio's (for example, banks).
Debt to asset ratio should improve over the years.
If the debt to asset ratio is above 1, look at the industry mean and find out why Canadian Pacific Railway Ltd has so much debt.

How to calculate debt to asset ratio

Debt to asset ratio = total debt \ total assets

Real life example Canadian Pacific Railway Ltd

You need the following data to determine debt to asset ratio:

Balance sheet
Debt to asset ratio = total debt \ total assets
37,491,000 \ 79,902,000 = 46.9% or 0.47.

The debt to total assets ratio shows if the company is owned by creditors or shareholders. Or in other words, the total debt in relation to the total amount of assets. It shows how much debt the company used to finance its assets.

1.4.2. Debt to Equity Ratio

Measures if Canadian Pacific Railway Ltd is able to pay off its debts by using shareholders equity.

Below 2 is considered healthy but always compare Canadian Pacific Railway Ltd to the Railroads industry mean.
A Debt to Equity ratio of 90.4% means that company has $0.90 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Canadian Pacific Railway Ltd:

The MRQ is 0.904. The company is very able to pay all its debts with equity. +2
The TTM is 0.913. The company is very able to pay all its debts with equity. +2

Trends

Current period		Compared to		+/-
MRQ	0.904	TTM	0.913	-0.010
TTM	0.913	YOY	0.948	-0.035
TTM	0.913	5Y	1.577	-0.664
5Y	1.577	10Y	1.989	-0.412

Compared to industry (Railroads)

Period	Company	Industry (mean)	+/-
MRQ	0.904	1.080	-0.176
TTM	0.913	1.080	-0.167
YOY	0.948	1.005	-0.057
5Y	1.577	1.102	+0.475
10Y	1.989	1.215	+0.774

Measures if Canadian Pacific Railway Ltd is able to pay off its debts by using shareholders equity.

How to use debt to equity ratio

Lower is better.
Below 2 is considered healthy (always use industry average).
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to shareholders equity ratio in their analysis

It shows how much debt the company uses to finance their operations. Shareholders equity is whats left over when you subtract total liabilities from total assets. It's another way to meassure how much of Canadian Pacific Railway Ltd is financed with debt or own resources.

The three steps every investor should look at:

What is the current debt to equity ratio?
The current most recent quarter (MRQ) quickRatio of Canadian Pacific Railway Ltd is 0.90. This means that Canadian Pacific Railway Ltd can pay off $0.90 for each $1 in debt.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Railroads industry is 1.08.
What is the trend?
The trend is important because it shows you how Canadian Pacific Railway Ltd is performing over time. The most recent quarter might be important if Canadian Pacific Railway Ltd released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Canadian Pacific Railway Ltd up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Not all debt is equally risky (for example, short term risk is less risky).

How to calculate debt to equity ratio

Debt to equity ratio = total debt \ shareholders equity.

Real life example Canadian Pacific Railway Ltd

You need the following data to determine equity ratio:

Balance sheet
Debt to equity ratio = total debt \ shareholders equity
37,491,000 \ 41,492,000 = 0.90 or 90.4%

Debt to equity measures the total debt versus the total shareholders equity. While the total debts to total assets ratio uses total assets, the debt to equity ratio looks at the total equity of shareholders. Where equity of shareholders are:

Common shares.
Preferred shares.
Retained earnings.

You can find the shareholders' equity in the balance sheet. A ratio between 0,5 and 1,5 is preferred. If the ratio is above 1.5, that would indicate creditors have significantly more stake (debt) in the company than the shareholders. In other words, the company is using a lot of debt to finance their operations.

Not all debt is equally risky. Meaning you can adjust the ratio by including or excluding certain amounts of debt. Short term debts are less risky because they have to be paid back within one year anyway. It’s much easier to plan one year ahead versus five or ten years.

2. Market Valuation of Canadian Pacific Railway Ltd

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every $1 in earnings Canadian Pacific Railway Ltd generates.

Above 15 is considered overpriced but always compare Canadian Pacific Railway Ltd to the Railroads industry mean.
A PE ratio of 24.94 means the investor is paying $24.94 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Canadian Pacific Railway Ltd:

The EOD is 26.473. Based on the earnings, the company is overpriced. -1
The MRQ is 24.937. Based on the earnings, the company is fair priced.
The TTM is 30.039. Based on the earnings, the company is overpriced. -1

Trends

Current period		Compared to		+/-
EOD	26.473	MRQ	24.937	+1.536
MRQ	24.937	TTM	30.039	-5.103
TTM	30.039	YOY	29.392	+0.647
TTM	30.039	5Y	92.976	-62.937
5Y	92.976	10Y	147.820	-54.844

Compared to industry (Railroads)

Period	Company	Industry (mean)	+/-
EOD	26.473	15.915	+10.558
MRQ	24.937	16.461	+8.476
TTM	30.039	17.592	+12.447
YOY	29.392	20.131	+9.261
5Y	92.976	20.040	+72.936
10Y	147.820	23.306	+124.514

Measures how much money you pay for each share for every $1 in earnings Canadian Pacific Railway Ltd generates.

Indicates if the company’s shares are under or overvalued.

How to use PE ratio

Above 15 is considered overpriced but is hard to determine. Always compare Canadian Pacific Railway Ltd to the Railroads industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use PE ratio in their analysis

The PE ratio tells investors the current sentiment in the market for that company. As with every stock, the stock price never shows the real valuation of a company but rather how the market thinks how much the stock is worth.

In other words, the current stock price also incorporates any future earnings or business opportunities in the future. The best example is the stock market crash in 2000. The PE ratio for any internet based company was going through the roof. Only based on the general assumption the internet and all associated businesses would thrive in the future. But this was based on nothing. A business still needs a good product or service to be able to survive. Instead, every investor bought any stock which did something related to the internet. Result: huge market crash.

Many investors were willing to pay premium prices and that was causing the PE ratio to rise. A high PE ratio is a warning sign that investors might be overvaluing a stock based on future earnings.

The three steps every investor should look at:

What is the current PE Ratio?
The current most recent quarter (MRQ) PE Ratio of Canadian Pacific Railway Ltd is 24.94. This means the investor is paying $24.94 for every $1 in earnings.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Railroads industry is 16.46.
What is the trend?
The trend is important because it shows you how Canadian Pacific Railway Ltd is performing over time. The most recent quarter might be important if Canadian Pacific Railway Ltd released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Canadian Pacific Railway Ltd up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Some industries might have very high or very low PE ratios in general.
PE ratios can be high for several years, it does not mean a sudden collapse is imminent.
Earnings growth is not included in the PE ratio.

How to calculate PE ratio

PE ratio = market value per share \ earnings per share

Real life example Canadian Pacific Railway Ltd

You need the following data to determine the PE ratio:

Balance sheet
Income statement

The PE ratio is a very commonly used ratio to determine the value of a company by comparing the current stock price relative to its earnings per share (EPS). Before we can calculate the PE ratio we need to know the EPS. EPS is calculated as follows:

EPS = (net profit - preferred dividends) \ end of period outstanding shares*
Net profit = revenue - expenses
0 \ 933,800 = EPS
PE ratio MRQ = 24.94

* The net profit minus preferred dividends can be found in the incomestatement as netIncomeApplicableToCommonShares.

The PE value helps investors to determine if the current stock price is under or overvalued. It also projects future growth.

In general, a higher PE ratio means that investors predict higher future growth. If the PE ratio is too high, then investors expect way too much future growth the company can never fulfil. This is most likely to happen in faster moving companies like tech companies or automobile companies like Tesla. These are hot and booming markets where investors expect much future growth driven by new technology (electric cars). When looking at the current MRQ (most recent quarter) PE ratio of Tesla ( jan. 2021) it's about 247 while the average in the industry is only 6. That might be a clue that Tesla is trading for way too high prices compared to their current assets and is more based on future growth.

2.2. Price To Free Cash Flow Ratio

Let's take a look of the Price To Free Cash Flow Ratio trends of Canadian Pacific Railway Ltd:

The EOD is 56.883. Based on how much money comes from the company's main activities, the company is overpriced. -1
The MRQ is 53.583. Based on how much money comes from the company's main activities, the company is overpriced. -1
The TTM is 73.711. Based on how much money comes from the company's main activities, the company is overpriced. -1

Trends

Current period		Compared to		+/-
EOD	56.883	MRQ	53.583	+3.301
MRQ	53.583	TTM	73.711	-20.128
TTM	73.711	YOY	46.879	+26.832
TTM	73.711	5Y	702.802	-629.092
5Y	702.802	10Y	470.680	+232.123

Compared to industry (Railroads)

Period	Company	Industry (mean)	+/-
EOD	56.883	4.548	+52.335
MRQ	53.583	4.816	+48.767
TTM	73.711	4.816	+68.895
YOY	46.879	4.848	+42.031
5Y	702.802	5.203	+697.599
10Y	470.680	13.343	+457.337

2. Book Value per Share

2.3. Price to Book Ratio

Measures if the stock price of Canadian Pacific Railway Ltd is to cheap or to expensive compared to its book value.

At or below 1 is considered healthy (always compare to Railroads industry mean).
A PB ratio of 2.41 means the investor is paying $2.41 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of Canadian Pacific Railway Ltd:

The EOD is 2.554. Based on the equity, the company is underpriced. +1
The MRQ is 2.406. Based on the equity, the company is underpriced. +1
The TTM is 2.433. Based on the equity, the company is underpriced. +1

Trends

Current period		Compared to		+/-
EOD	2.554	MRQ	2.406	+0.148
MRQ	2.406	TTM	2.433	-0.027
TTM	2.433	YOY	2.606	-0.172
TTM	2.433	5Y	23.507	-21.074
5Y	23.507	10Y	30.517	-7.010

Compared to industry (Railroads)

Period	Company	Industry (mean)	+/-
EOD	2.554	1.220	+1.334
MRQ	2.406	1.390	+1.016
TTM	2.433	1.390	+1.043
YOY	2.606	1.469	+1.137
5Y	23.507	1.622	+21.885
10Y	30.517	2.039	+28.478

2. Total Gains per Share

3. Holders & Insider Transactions

Let's take a look at which institutions, funds and insiders are holding shares of Canadian Pacific Railway Ltd.

3.1. Institutions holding Canadian Pacific Railway Ltd

Institutions are holding 76.635% of the shares of Canadian Pacific Railway Ltd.

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-12-31	TCI Fund Management Limited	5.953	12.2145	55514385	-346000	-0.6194
2023-12-31	Royal Bank of Canada	5.5745	0.9597	51984727	-870110	-1.6462
2023-12-31	WCM Investment Management	3.7654	7.6994	35113717	-2986915	-7.8395
2023-12-31	Vanguard Group Inc	3.6822	0.0593	34337847	585049	1.7333
2023-12-31	FMR Inc	2.9989	0.17	27966452	-3035413	-9.7911
2023-12-31	TD Asset Management Inc	2.2702	1.6541	21170926	6835271	47.6802
2023-12-31	Bank of Montreal	2.1303	0.4796	19865742	-165336	-0.8254
2023-12-31	BMO Capital Markets Corp.	2.1303	0.4796	19865742	-165336	-0.8254
2023-12-31	Massachusetts Financial Services Company	2.0032	0.477	18680874	-4539498	-19.5496
2023-12-31	Capital World Investors	1.6294	0.2137	15194997	-5621781	-27.006
2023-12-31	Pershing Square Capital Management, L.p.	1.6187	11.4799	15095528	0	0
2023-12-31	Mackenzie Investments	1.5204	1.6927	14178436	787608	5.8817
2023-12-31	Veritas Asset Management LLP	1.4406	7.6457	13434704	243210	1.8437
2023-12-31	1832 Asset Management L.P	1.4325	1.5209	13358399	-34534	-0.2579
2023-12-31	T. Rowe Price Associates, Inc.	1.3926	0.138	12986776	2201162	20.4083
2023-12-31	NORGES BANK	1.3285	0.1712	12388761	-2851024	-18.7078
2023-12-31	Manufacturers Life Insurance Co	1.2836	0.5663	11969862	507177	4.4246
2023-12-31	Egerton Capital LLP	1.2225	9.7627	11400216	-5113559	-30.9654
2023-12-31	Sustainable Growth Advisers, LP	1.0827	3.6342	10096744	2249452	28.6653
2023-12-31	Goldman Sachs Group Inc	1.0444	0.0691	9739830	4309101	79.3466
Total		45.5039	61.0876	424344665	-8011476	-1.9%

3.2. Funds holding Canadian Pacific Railway Ltd

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2024-02-29	Vanguard Total Intl Stock Index Inv	1.365	0.2589	12729633	50442	0.3978
2023-12-31	WCM Focused International Growth Instl	1.2388	5.2228	11552222	-358908	-3.0132
2023-12-31	WCM Inv Mgt Focused Growth Intl	1.2388	5.2295	11552222	-358908	-3.0132
2024-03-31	RBC Canadian Dividend Fund A	0.9335	4.9695	8705523	0	0
2023-12-31	American Funds New Perspective A	0.8604	0.5007	8023696	-809138	-9.1606
2023-12-31	Capital Group New Perspective Comp	0.8604	0.5007	8023696	-809138	-9.1606
2024-02-29	Vanguard Developed Markets Index Admiral	0.8181	0.3486	7629458	44476	0.5864
2024-02-29	Vanguard Instl Ttl Intl Stk Mkt Idx TrII	0.6583	0.2632	6138734	38189	0.626
2023-12-31	UBS: Global Equity	0.6547	1.4334	6105391	0	0
2023-12-31	Fidelity Canadian Growth Company Sr B	0.5257	5.3047	4902790	0	0
2024-02-29	Scotia Canadian Dividend A	0.4978	3.7835	4641900	-55000	-1.171
2024-03-29	iShares S&P/TSX 60 ETF	0.4903	4.3196	4572372	0	0
2024-02-29	Fidelity Series Canada	0.4361	6.5237	4066521	42700	1.0612
2024-02-29	Fidelity Series International Growth	0.3944	2.0712	3677940	-12700	-0.3441
2024-03-31	Bridge Builder Large Cap Growth	0.3941	1.2197	3675143	-491492	-11.7959
2024-03-29	iShares Core S&P/TSX Capped Compost ETF	0.3708	3.4987	3457753	0	0
2024-03-28	JPMorgan BetaBuilders Canada ETF	0.3573	4.159	3331809	0	0
2024-02-29	BMO Dividend A	0.3395	4.2666	3165877	0	0
2023-12-31	American Funds Growth Fund of Amer A	0.339	0.1004	3161197	-1152269	-26.7133
2023-12-31	Capital Group Growth Fnd of Amer Comp	0.339	0.1004	3161197	-1152269	-26.7133
Total		13.112	54.0748	122275074	-5024015	-4.1%

4. Summary

4.1. Key Performance Indicators

The key performance indicators of Canadian Pacific Railway Ltd compared to the Most Recent Quarter (MRQ).

	End of day	+/-	Most Recent Quarter	Trailing 12 Months	+/-	Year-Over-Year	+/-	5 Year	+/-	10 Year	+/-
Book Value Change Per Share	-	-	0.124	0.678	-82%	0.976	-87%	1.386	-91%	0.684	-82%
Book Value Per Share	-	-	32.860	31.999	+3%	28.328	+16%	16.631	+98%	10.546	+212%
Current Ratio	-	-	0.526	0.641	-18%	0.529	-1%	0.596	-12%	0.730	-28%
Debt To Asset Ratio	-	-	0.469	0.473	-1%	0.487	-4%	0.589	-20%	0.642	-27%
Debt To Equity Ratio	-	-	0.904	0.913	-1%	0.948	-5%	1.577	-43%	1.989	-55%
Dividend Per Share	-	-	0.103	0.129	-19%	0.137	-24%	0.107	-3%	0.080	+29%
Eps	-	-	0.793	0.655	+21%	0.682	+16%	0.558	+42%	0.407	+95%
Free Cash Flow Per Share	-	-	0.369	0.287	+28%	0.501	-26%	0.337	+9%	0.256	+44%
Free Cash Flow To Equity Per Share	-	-	-0.071	-0.056	-22%	0.056	-228%	0.492	-114%	0.211	-134%
Gross Profit Margin	-	-	1.000	1.000	0%	1.000	0%	0.937	+7%	0.918	+9%
Intrinsic Value_10Y_max	-	-	17.148	-	-	-	-	-	-	-	-
Intrinsic Value_10Y_min	-	-	1.227	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_max	-	-	1.627	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_min	-	-	0.878	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_max	-	-	4.958	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_min	-	-	1.999	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_max	-	-	8.373	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_min	-	-	2.412	-	-	-	-	-	-	-	-
Market Cap	78268670381.440	+6%	73826228000.000	72641060750.000	+2%	68492079500.000	+8%	151226780764.176	-51%	152790514490.664	-52%
Net Profit Margin	-	-	0.271	0.319	-15%	0.393	-31%	0.339	-20%	0.300	-10%
Operating Margin	-	-	0.405	0.399	+2%	0.541	-25%	0.460	-12%	0.431	-6%
Operating Ratio	-	-	0.619	0.642	-4%	0.599	+3%	0.601	+3%	0.604	+2%
Pb Ratio	2.554	+6%	2.406	2.433	-1%	2.606	-8%	23.507	-90%	30.517	-92%
Pe Ratio	26.473	+6%	24.937	30.039	-17%	29.392	-15%	92.976	-73%	147.820	-83%
Price Per Share	83.930	+6%	79.060	77.795	+2%	73.423	+8%	162.141	-51%	163.830	-52%
Price To Free Cash Flow Ratio	56.883	+6%	53.583	73.711	-27%	46.879	+14%	702.802	-92%	470.680	-89%
Price To Total Gains Ratio	368.367	+6%	346.992	150.517	+131%	123.075	+182%	35961652442701068.000	-100%	17980826221351152.000	-100%
Quick Ratio	-	-	0.412	0.524	-21%	3.639	-89%	0.928	-56%	0.792	-48%
Return On Assets	-	-	0.013	0.013	+2%	0.012	+4%	0.021	-38%	0.022	-41%
Return On Equity	-	-	0.025	0.024	+2%	0.024	+4%	0.057	-57%	0.067	-63%
Total Gains Per Share	-	-	0.228	0.806	-72%	1.112	-80%	1.492	-85%	0.764	-70%
Usd Book Value	-	-	30684358500.000	29878741250.000	+3%	26425656625.000	+16%	15518713250.000	+98%	9839039287.500	+212%
Usd Book Value Change Per Share	-	-	0.124	0.678	-82%	0.976	-87%	1.386	-91%	0.684	-82%
Usd Book Value Per Share	-	-	32.860	31.999	+3%	28.328	+16%	16.631	+98%	10.546	+212%
Usd Dividend Per Share	-	-	0.103	0.129	-19%	0.137	-24%	0.107	-3%	0.080	+29%
Usd Eps	-	-	0.793	0.655	+21%	0.682	+16%	0.558	+42%	0.407	+95%
Usd Free Cash Flow	-	-	344450753.250	268253813.313	+28%	467561875.000	-26%	314653387.663	+9%	239100281.331	+44%
Usd Free Cash Flow Per Share	-	-	0.369	0.287	+28%	0.501	-26%	0.337	+9%	0.256	+44%
Usd Free Cash Flow To Equity Per Share	-	-	-0.071	-0.056	-22%	0.056	-228%	0.492	-114%	0.211	-134%
Usd Market Cap	78268670381.440	+6%	73826228000.000	72641060750.000	+2%	68492079500.000	+8%	151226780764.176	-51%	152790514490.664	-52%
Usd Price Per Share	83.930	+6%	79.060	77.795	+2%	73.423	+8%	162.141	-51%	163.830	-52%
Usd Profit	-	-	740140500.000	710296125.000	+4%	636137375.000	+16%	549136500.000	+35%	433430762.500	+71%
Usd Revenue	-	-	2731936000.000	2270885625.000	+20%	1594232250.000	+71%	1623027550.000	+68%	1416251250.000	+93%
Usd Total Gains Per Share	-	-	0.228	0.806	-72%	1.112	-80%	1.492	-85%	0.764	-70%
	EOD	+4 -4	MRQ	TTM	+23 -12	YOY	+17 -18	5Y	+17 -19	10Y	+19 -17

4.2. Fundamental Score

Let's check the fundamental score of Canadian Pacific Railway Ltd based on Penke's default stock scanner.

Penke's Stock Scanner

Indicator	Condition		Value
Price to Earnings Ratio (EOD)	Between	0-15	26.473
Price to Book Ratio (EOD)	Between	0-1	2.554
Net Profit Margin (MRQ)	Greater than	0	0.271
Operating Margin (MRQ)	Greater than	0	0.405
Quick Ratio (MRQ)	Greater than	1	0.412
Current Ratio (MRQ)	Greater than	1	0.526
Debt to Asset Ratio (MRQ)	Less than	1	0.469
Debt to Equity Ratio (MRQ)	Less than	1	0.904
Return on Equity (MRQ)	Greater than	0.15	0.025
Return on Assets (MRQ)	Greater than	0.05	0.013
Total			4/10 (40.0%)

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4.3. Technical Score

Let's check the technical score of Canadian Pacific Railway Ltd based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	35.395
Ma 20	Greater than	Ma 50	87.463
Ma 50	Greater than	Ma 100	87.070
Ma 100	Greater than	Ma 200	82.005
Open	Greater than	Close	84.710
Total			4/5 (80.0%)

Create your own Symbol Scanner

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Latest Balance Sheet

Balance Sheet of 2023-12-31. Currency in CAD. All numbers in thousands.

Summary

Total Assets	79,902,000
Total Liabilities	37,491,000
Total Stockholder Equity	41,492,000

	As reported
Total Liabilities	37,491,000
Total Stockholder Equity	+ 41,492,000
Total Assets	= 79,902,000

Assets

Total Assets	79,902,000
Total Current Assets	3,002,000
Long-term Assets	76,900,000

Total Current Assets

Total Current Assets (as reported)	3,002,000
Cash And Cash Equivalents	464,000
Net Receivables	1,887,000
Inventory	400,000
Other Current Assets	251,000
Total Current Assets (calculated)	3,002,000
+/-	0

Long-term Assets

Long-term Assets (as reported)	76,900,000
Property Plant Equipment	50,329,000
Goodwill	17,729,000
Long Term Investments	533,000
Intangible Assets	4,736,000
Long-term Assets Other	-7,479,000
Long-term Assets (calculated)	65,848,000
+/-	11,052,000

Liabilities & Shareholders' Equity

Total Current Liabilities	5,710,000
Long-term Liabilities	31,781,000
Total Stockholder Equity	41,492,000

Total Current Liabilities

Total Current Liabilities (as reported)	5,710,000
Short-term Debt	3,245,000
Short Long Term Debt	3,143,000
Accounts payable	680,000
Other Current Liabilities	60,000
Total Current Liabilities (calculated)	7,128,000
+/-	1,418,000

Long-term Liabilities

Long-term Liabilities (as reported)	31,781,000
Long term Debt	19,351,000
Capital Lease Obligations	344,000
Long-term Liabilities Other	110,000
Long-term Liabilities (calculated)	19,805,000
+/-	11,976,000

Total Stockholder Equity

Total Stockholder Equity (as reported)	41,492,000
Common Stock	25,602,000
Retained Earnings	16,420,000
Accumulated Other Comprehensive Income	-618,000
Other Stockholders Equity	88,000
Total Stockholder Equity (calculated)	41,492,000
+/-	0

Other

Capital Stock	25,602,000
Cash and Short Term Investments	464,000
Common Stock Shares Outstanding	933,800
Current Deferred Revenue	1,725,000
Liabilities and Stockholders Equity	79,902,000
Net Debt	22,374,000
Net Invested Capital	63,986,000
Net Working Capital	-2,708,000
Property Plant and Equipment Gross	60,353,000
Short Long Term Debt Total	22,838,000

Balance Sheet

Currency in CAD. All numbers in thousands.

Trend

2023-12-31

2023-09-30

2023-06-30

2023-03-31

2022-12-31

2022-09-30

2022-06-30

2022-03-31

2021-12-31

2021-09-30

2021-06-30

2021-03-31

2020-12-31

2020-09-30

2020-06-30

2020-03-31

2019-12-31

2019-09-30

2019-06-30

2019-03-31

2018-12-31

2018-09-30

2018-06-30

2018-03-31

2017-12-31

2017-09-30

2017-06-30

2017-03-31

2016-12-31

2016-09-30

2016-06-30

2016-03-31

2015-12-31

2015-09-30

2015-06-30

2015-03-31

2014-12-31

2014-09-30

2014-06-30

2014-03-31

2013-12-31

2013-09-30

2013-06-30

2013-03-31

2012-12-31

2012-09-30

2012-06-30

2012-03-31

2011-12-31

2011-09-30

2011-06-30

2011-03-31

2010-12-31

2010-09-30

2010-06-30

2010-03-31

2009-12-31

2009-09-30

2009-06-30

2009-03-31

2008-12-31

2008-09-30

2008-06-30

2008-03-31

2007-12-31

2007-09-30

2007-06-30

2007-03-31

2006-12-31

2006-09-30

2006-06-30

2006-03-31

2005-12-31

2005-09-30

2005-06-30

2005-03-31

2004-12-31

2004-09-30

2004-06-30

2004-03-31

2003-12-31

2003-09-30

2003-06-30

2003-03-31

2002-12-31

2002-09-30

2002-06-30

2002-03-31

2001-12-31

2001-09-30

2001-06-30

2001-03-31

2000-12-31

2000-09-30

2000-06-30

2000-03-31

> Total Assets

14,362,639
14,442,448
14,767,091
16,198,003
15,799,595
17,217,834
9,637,465
9,853,000
9,729,269
9,501,879
9,515,492
9,660,800
9,878,485
9,472,899
9,917,391
9,957,100
10,261,020
10,445,050
10,528,823
10,499,800
10,603,386
10,508,800
10,627,007
10,891,100
10,938,786
10,913,835
11,089,492
11,415,900
11,380,265
11,700,258
11,801,031
13,365,000
13,340,735
13,678,200
14,049,700
15,469,800
16,037,300
15,384,800
15,321,000
15,531,400
14,174,300
13,739,000
13,530,800
13,675,900
13,523,300
13,555,800
14,007,500
14,110,000
14,236,000
14,406,000
14,491,000
14,727,000
15,027,000
15,519,000
15,734,000
17,060,000
17,315,000
17,012,000
17,225,000
16,640,000
17,249,000
17,390,000
18,431,000
19,637,000
19,349,000
19,068,000
19,421,000
19,221,000
19,397,000
19,537,000
19,479,000
20,135,000
20,318,000
20,685,000
21,109,000
21,254,000
21,910,000
21,933,000
22,539,000
22,367,000
23,488,000
23,562,000
23,787,000
23,640,000
24,121,000
24,704,000
26,445,000
68,177,000
67,592,000
69,874,000
73,435,000
73,495,000
73,502,000
79,172,000
80,997,000
79,902,000

79,902,000

80,997,000

79,172,000

73,502,000

73,495,000

73,435,000

69,874,000

67,592,000

68,177,000

26,445,000

24,704,000

24,121,000

23,640,000

23,787,000

23,562,000

23,488,000

22,367,000

22,539,000

21,933,000

21,910,000

21,254,000

21,109,000

20,685,000

20,318,000

20,135,000

19,479,000

19,537,000

19,397,000

19,221,000

19,421,000

19,068,000

19,349,000

19,637,000

18,431,000

17,390,000

17,249,000

16,640,000

17,225,000

17,012,000

17,315,000

17,060,000

15,734,000

15,519,000

15,027,000

14,727,000

14,491,000

14,406,000

14,236,000

14,110,000

14,007,500

13,555,800

13,523,300

13,675,900

13,530,800

13,739,000

14,174,300

15,531,400

15,321,000

15,384,800

16,037,300

15,469,800

14,049,700

13,678,200

13,340,735

13,365,000

11,801,031

11,700,258

11,380,265

11,415,900

11,089,492

10,913,835

10,938,786

10,891,100

10,627,007

10,508,800

10,603,386

10,499,800

10,528,823

10,445,050

10,261,020

9,957,100

9,917,391

9,472,899

9,878,485

9,660,800

9,515,492

9,501,879

9,729,269

9,853,000

9,637,465

17,217,834

15,799,595

16,198,003

14,767,091

14,442,448

14,362,639

> Total Current Assets

0
0
0
0
0
0
1,144,407
1,215,500
1,239,677
998,924
857,504
909,300
1,141,754
649,398
1,003,529
724,200
920,924
964,797
1,009,490
992,000
1,034,565
843,278
859,978
893,900
852,612
845,753
899,253
1,004,900
905,904
1,260,345
1,252,050
1,167,700
901,471
1,028,400
1,135,800
1,123,000
1,494,700
1,183,700
1,408,300
1,427,400
1,743,500
1,151,400
1,084,200
1,203,800
1,154,200
1,107,600
950,600
856,000
1,028,000
974,000
1,118,000
1,329,000
1,481,000
1,651,000
1,709,000
2,029,000
2,010,000
1,913,000
1,538,000
1,277,000
1,274,000
1,213,000
1,705,000
1,537,000
1,450,000
923,000
964,000
1,009,000
1,110,000
1,119,000
992,000
1,274,000
1,117,000
1,000,000
1,130,000
1,117,000
1,376,000
1,115,000
1,186,000
1,210,000
1,407,000
1,355,000
1,324,000
1,321,000
1,624,000
1,987,000
1,451,000
1,352,000
1,407,000
1,611,000
1,644,000
1,889,000
1,780,000
2,918,000
3,069,000
3,002,000

3,002,000

3,069,000

2,918,000

1,780,000

1,889,000

1,644,000

1,611,000

1,407,000

1,352,000

1,451,000

1,987,000

1,624,000

1,321,000

1,324,000

1,355,000

1,407,000

1,210,000

1,186,000

1,115,000

1,376,000

1,117,000

1,130,000

1,000,000

1,117,000

1,274,000

992,000

1,119,000

1,110,000

1,009,000

964,000

923,000

1,450,000

1,537,000

1,705,000

1,213,000

1,274,000

1,277,000

1,538,000

1,913,000

2,010,000

2,029,000

1,709,000

1,651,000

1,481,000

1,329,000

1,118,000

974,000

1,028,000

856,000

950,600

1,107,600

1,154,200

1,203,800

1,084,200

1,151,400

1,743,500

1,427,400

1,408,300

1,183,700

1,494,700

1,123,000

1,135,800

1,028,400

901,471

1,167,700

1,252,050

1,260,345

905,904

1,004,900

899,253

845,753

852,612

893,900

859,978

843,278

1,034,565

992,000

1,009,490

964,797

920,924

724,200

1,003,529

649,398

1,141,754

909,300

857,504

998,924

1,239,677

1,215,500

1,144,407

Cash And Cash Equivalents

0
0
0
0
0
0
105,511
558,458
502,739
321,768
127,811
285,983
506,345
50,093
359,688
135,128
261,318
306,894
324,644
352,484
274,650
131,416
86,538
121,800
47,456
44,167
46,315
124,300
25,611
392,488
339,187
378,100
71,117
80,900
97,900
117,600
566,500
334,300
615,900
679,100
723,800
373,600
267,800
360,600
310,500
267,800
97,000
47,000
77,000
82,000
207,000
333,000
347,000
442,000
329,000
476,000
279,000
369,000
315,000
226,000
184,000
185,000
661,000
650,000
571,000
92,000
103,000
164,000
201,000
238,000
142,000
338,000
125,000
51,000
150,000
61,000
352,000
45,000
145,000
133,000
247,000
277,000
183,000
147,000
360,000
892,000
210,000
69,000
85,000
154,000
138,000
451,000
290,000
325,000
294,000
464,000

464,000

294,000

325,000

290,000

451,000

138,000

154,000

85,000

69,000

210,000

892,000

360,000

147,000

183,000

277,000

247,000

133,000

145,000

45,000

352,000

61,000

150,000

51,000

125,000

338,000

142,000

238,000

201,000

164,000

103,000

92,000

571,000

650,000

661,000

185,000

184,000

226,000

315,000

369,000

279,000

476,000

329,000

442,000

347,000

333,000

207,000

82,000

77,000

47,000

97,000

267,800

310,500

360,600

267,800

373,600

723,800

679,100

615,900

334,300

566,500

117,600

97,900

80,900

71,117

378,100

339,187

392,488

25,611

124,300

46,315

44,167

47,456

121,800

86,538

131,416

274,650

352,484

324,644

306,894

261,318

135,128

359,688

50,093

506,345

285,983

127,811

321,768

502,739

558,458

105,511

Short-term Investments

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
443,140
273,048
567,621
0
0
0
0
0
0
0
0
0
0
0
0
0
0
94,313
253,152
386,896
370,136
376,722
75,007
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
223,000
199,000
199,000
0
0
-12,299,000
41,626,000
0
0
0
0
264,000
273,000
0

273,000

264,000

41,626,000

-12,299,000

199,000

223,000

75,007

376,722

370,136

386,896

253,152

94,313

567,621

273,048

443,140

Net Receivables

0
0
0
0
0
0
559,490
464,100
523,666
459,467
515,342
443,000
447,270
403,761
446,513
395,700
436,665
430,395
476,720
434,700
528,389
481,759
542,607
524,000
530,310
515,248
553,886
615,700
608,271
567,261
608,676
542,800
583,692
681,300
747,000
713,100
569,300
488,500
498,600
569,100
705,800
441,200
533,300
459,000
520,200
508,900
530,500
518,000
526,000
497,000
533,000
546,000
585,000
547,000
594,000
580,000
723,000
687,000
739,000
702,000
776,000
686,000
722,000
645,000
629,000
577,000
605,000
591,000
631,000
604,000
628,000
687,000
699,000
686,000
759,000
815,000
744,000
795,000
770,000
805,000
885,000
776,000
840,000
825,000
840,000
755,000
811,000
819,000
818,000
962,000
1,053,000
1,016,000
1,029,000
1,656,000
1,852,000
1,887,000

1,887,000

1,852,000

1,656,000

1,029,000

1,016,000

1,053,000

962,000

818,000

819,000

811,000

755,000

840,000

825,000

840,000

776,000

885,000

805,000

770,000

795,000

744,000

815,000

759,000

686,000

699,000

687,000

628,000

604,000

631,000

591,000

605,000

577,000

629,000

645,000

722,000

686,000

776,000

702,000

739,000

687,000

723,000

580,000

594,000

547,000

585,000

546,000

533,000

497,000

526,000

518,000

530,500

508,900

520,200

459,000

533,300

441,200

705,800

569,100

498,600

488,500

569,300

713,100

747,000

681,300

583,692

542,800

608,676

567,261

608,271

615,700

553,886

515,248

530,310

524,000

542,607

481,759

528,389

434,700

476,720

430,395

436,665

395,700

446,513

403,761

447,270

443,000

515,342

459,467

523,666

464,100

559,490

Other Current Assets

0
0
0
0
0
0
287,103
-1,558
91,416
92,034
92,136
-1,083
-1
1
89,023
-428
87,373
89,837
82,467
516
-1
1
68,950
108,000
1
104,884
-1
106,300
109,749
129,028
-1
67,300
70,418
66,700
59,100
76,500
86,200
88,000
58,000
46,500
57,600
62,200
54,800
47,800
60,200
69,300
59,800
52,000
67,000
69,000
61,000
60,000
67,000
84,000
73,000
53,000
64,000
61,000
68,000
116,000
67,000
99,000
69,000
54,000
69,000
59,000
64,000
70,000
77,000
85,000
65,000
97,000
139,000
103,000
65,000
68,000
98,000
80,000
83,000
90,000
98,000
110,000
116,000
141,000
211,000
122,000
190,000
216,000
240,000
224,000
186,000
138,000
176,000
292,000
252,000
251,000

251,000

252,000

292,000

176,000

138,000

186,000

224,000

240,000

216,000

190,000

122,000

211,000

141,000

116,000

110,000

98,000

90,000

83,000

80,000

98,000

68,000

65,000

103,000

139,000

97,000

65,000

85,000

77,000

70,000

64,000

59,000

69,000

54,000

69,000

99,000

67,000

116,000

68,000

61,000

64,000

53,000

73,000

84,000

67,000

60,000

61,000

69,000

67,000

52,000

59,800

69,300

60,200

47,800

54,800

62,200

57,600

46,500

58,000

88,000

86,200

76,500

59,100

66,700

70,418

67,300

-1

129,028

109,749

106,300

-1

104,884

108,000

68,950

-1

516

82,467

89,837

87,373

-428

89,023

-1

-1,083

92,136

92,034

91,416

-1,558

287,103

> Long-term Assets

0
0
0
0
0
0
8,493,058
8,637,500
8,489,592
8,502,955
8,657,987
8,751,500
8,736,731
8,823,501
8,913,862
9,232,900
9,340,096
9,480,253
9,519,333
9,507,800
9,568,821
9,665,521
9,767,029
9,997,200
10,086,174
10,068,082
10,190,239
10,411,000
10,474,361
10,439,913
10,548,981
12,197,300
12,439,264
12,649,800
12,913,900
14,346,800
14,542,600
14,201,100
13,912,700
14,104,000
12,430,800
12,587,600
12,446,600
12,472,100
12,369,100
12,448,200
13,056,900
13,254,000
13,208,000
13,432,000
13,373,000
13,398,000
13,546,000
13,868,000
14,025,000
15,031,000
15,305,000
15,099,000
15,687,000
15,363,000
15,975,000
16,177,000
16,726,000
18,100,000
17,899,000
18,145,000
18,457,000
18,212,000
18,287,000
18,418,000
18,487,000
18,861,000
19,201,000
19,685,000
19,979,000
20,137,000
20,534,000
20,818,000
21,353,000
21,157,000
22,081,000
22,207,000
22,463,000
22,319,000
22,497,000
22,717,000
24,994,000
66,825,000
66,185,000
68,263,000
71,791,000
71,606,000
71,722,000
76,254,000
77,928,000
76,900,000

76,900,000

77,928,000

76,254,000

71,722,000

71,606,000

71,791,000

68,263,000

66,185,000

66,825,000

24,994,000

22,717,000

22,497,000

22,319,000

22,463,000

22,207,000

22,081,000

21,157,000

21,353,000

20,818,000

20,534,000

20,137,000

19,979,000

19,685,000

19,201,000

18,861,000

18,487,000

18,418,000

18,287,000

18,212,000

18,457,000

18,145,000

17,899,000

18,100,000

16,726,000

16,177,000

15,975,000

15,363,000

15,687,000

15,099,000

15,305,000

15,031,000

14,025,000

13,868,000

13,546,000

13,398,000

13,373,000

13,432,000

13,208,000

13,254,000

13,056,900

12,448,200

12,369,100

12,472,100

12,446,600

12,587,600

12,430,800

14,104,000

13,912,700

14,201,100

14,542,600

14,346,800

12,913,900

12,649,800

12,439,264

12,197,300

10,548,981

10,439,913

10,474,361

10,411,000

10,190,239

10,068,082

10,086,174

9,997,200

9,767,029

9,665,521

9,568,821

9,507,800

9,519,333

9,480,253

9,340,096

9,232,900

8,913,862

8,823,501

8,736,731

8,751,500

8,657,987

8,502,955

8,489,592

8,637,500

8,493,058

Property Plant Equipment

11,109,033
11,047,690
11,058,227
11,909,779
11,628,850
12,407,728
7,686,808
7,935,500
7,916,365
7,906,289
8,055,106
8,149,300
8,113,337
8,188,287
8,252,337
8,220,000
8,318,774
8,456,870
8,453,193
8,393,500
8,471,723
8,587,750
8,677,419
8,790,900
8,858,310
8,812,861
8,947,314
9,122,900
9,199,994
9,146,535
9,107,138
9,293,100
9,336,280
9,464,200
9,628,900
12,576,900
12,714,600
12,499,800
12,203,700
11,967,800
11,902,600
12,044,500
11,957,200
11,996,800
11,902,600
11,981,200
12,535,400
12,752,000
12,743,000
12,964,000
12,967,000
13,013,000
13,122,000
13,422,000
13,493,000
13,327,000
13,518,000
13,538,000
14,040,000
14,438,000
14,933,000
15,104,000
15,762,000
16,273,000
16,013,000
16,160,000
16,382,000
16,689,000
16,661,000
16,703,000
16,700,000
17,016,000
17,234,000
17,616,000
17,792,000
18,418,000
18,312,000
18,489,000
18,909,000
19,156,000
19,900,000
20,019,000
20,169,000
20,422,000
20,503,000
20,639,000
21,007,000
21,200,000
21,120,000
21,502,000
22,150,000
22,385,000
22,555,000
51,183,000
52,258,000
50,329,000

50,329,000

52,258,000

51,183,000

22,555,000

22,385,000

22,150,000

21,502,000

21,120,000

21,200,000

21,007,000

20,639,000

20,503,000

20,422,000

20,169,000

20,019,000

19,900,000

19,156,000

18,909,000

18,489,000

18,312,000

18,418,000

17,792,000

17,616,000

17,234,000

17,016,000

16,700,000

16,703,000

16,661,000

16,689,000

16,382,000

16,160,000

16,013,000

16,273,000

15,762,000

15,104,000

14,933,000

14,438,000

14,040,000

13,538,000

13,518,000

13,327,000

13,493,000

13,422,000

13,122,000

13,013,000

12,967,000

12,964,000

12,743,000

12,752,000

12,535,400

11,981,200

11,902,600

11,996,800

11,957,200

12,044,500

11,902,600

11,967,800

12,203,700

12,499,800

12,714,600

12,576,900

9,628,900

9,464,200

9,336,280

9,293,100

9,107,138

9,146,535

9,199,994

9,122,900

8,947,314

8,812,861

8,858,310

8,790,900

8,677,419

8,587,750

8,471,723

8,393,500

8,453,193

8,456,870

8,318,774

8,220,000

8,252,337

8,188,287

8,113,337

8,149,300

8,055,106

7,906,289

7,916,365

7,935,500

7,686,808

12,407,728

11,628,850

11,909,779

11,058,227

11,047,690

11,109,033

Goodwill

0
0
0
648,837
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
147,600
0
0
0
154,900
0
0
0
147,041
0
0
0
147,102
0
0
0
146,000
0
0
0
150,000
0
0
0
164,000
0
0
0
198,000
0
0
0
191,000
0
0
0
178,000
0
0
0
194,000
0
0
0
194,000
0
0
0
329,000
329,000
0
0
328,000
328,000
0
0
344,000
0
17,674,000
18,147,000
17,729,000

17,729,000

18,147,000

17,674,000

344,000

328,000

329,000

194,000

178,000

191,000

198,000

164,000

150,000

146,000

147,102

147,041

154,900

147,600

648,837

Long Term Investments

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
86,605
0
0
0
96,377
0
0
0
109,819
0
0
0
144,367
0
0
147,894
145,078
144,041
146,367
156,884
23,133
201,000
210,000
215,000
341,000
369,000
223,000
223,000
199,000
199,000
197,000
205,000
42,518,000
41,827,000
43,420,000
46,194,000
45,314,000
45,183,000
532,000
549,000
533,000

533,000

549,000

532,000

45,183,000

45,314,000

46,194,000

43,420,000

41,827,000

42,518,000

205,000

197,000

199,000

223,000

369,000

341,000

215,000

210,000

201,000

23,133

156,884

146,367

144,041

145,078

147,894

144,367

109,819

96,377

86,605

Intangible Assets

0
0
0
720,156
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
194,938
194,290
193,326
193,135
47,400
192,141
191,621
191,235
190,371
190,373
190,264
189,315
188,291
189,746
188,809
188,334
15,000
161,290
161,951
161,009
12,000
152,036
151,813
151,799
12,000
151,324
151,285
153,211
13,000
150,700
150,870
150,811
11,000
150,229
150,405
149,492
9,000
148,687
148,642
149,860
8,000
11,364
193,000
195,000
12,000
223,000
291,000
284,000
37,000
37,000
366,000
372,000
43,000
43,000
374,000
390,000
42,000
385,000
3,019,000
3,061,000
4,736,000

4,736,000

3,061,000

3,019,000

385,000

42,000

390,000

374,000

43,000

372,000

366,000

37,000

284,000

291,000

223,000

12,000

195,000

193,000

11,364

8,000

149,860

148,642

148,687

9,000

149,492

150,405

150,229

11,000

150,811

150,870

150,700

13,000

153,211

151,285

151,324

12,000

151,799

151,813

152,036

12,000

161,009

161,951

161,290

15,000

188,334

188,809

189,746

188,291

189,315

190,264

190,373

190,371

191,235

191,621

192,141

47,400

193,135

193,326

194,290

194,938

720,156

Long-term Assets Other

0
0
0
0
0
0
806,250
607,100
573,227
596,666
602,881
510,000
623,394
635,214
661,525
907,300
1,021,322
1,023,382
1,066,140
1,018,300
1,097,098
1,077,771
1,089,611
1,139,000
1,227,864
1,255,221
1,242,924
1,223,200
1,274,367
1,293,377
1,441,843
1,235,600
3,102,983
1,468,000
1,510,500
39,600
1,431,600
1,325,000
4,900
132,800
172,600
171,200
138,000
134,000
136,300
135,200
156,700
143,000
142,000
138,000
134,000
132,000
175,000
187,000
189,000
422,000
429,000
150,000
160,000
333,000
340,000
281,000
73,000
-1,927,000
-1,880,000
-1,877,000
-1,883,000
-2,444,000
-2,397,000
-2,314,000
-2,280,000
-1,845,000
-1,801,000
-1,768,000
-1,734,000
71,000
-1,726,000
-1,599,000
-1,601,000
-2,047,000
-2,015,000
-1,970,000
-1,902,000
438,000
-2,307,000
-2,209,000
-508,000
419,000
-8,391,000
-8,679,000
-9,169,000
3,521,000
-8,618,000
-7,234,000
-7,311,000
-7,479,000

-7,479,000

-7,311,000

-7,234,000

-8,618,000

3,521,000

-9,169,000

-8,679,000

-8,391,000

419,000

-508,000

-2,209,000

-2,307,000

438,000

-1,902,000

-1,970,000

-2,015,000

-2,047,000

-1,601,000

-1,599,000

-1,726,000

71,000

-1,734,000

-1,768,000

-1,801,000

-1,845,000

-2,280,000

-2,314,000

-2,397,000

-2,444,000

-1,883,000

-1,877,000

-1,880,000

-1,927,000

73,000

281,000

340,000

333,000

160,000

150,000

429,000

422,000

189,000

187,000

175,000

132,000

134,000

138,000

142,000

143,000

156,700

135,200

136,300

134,000

138,000

171,200

172,600

132,800

4,900

1,325,000

1,431,600

39,600

1,510,500

1,468,000

3,102,983

1,235,600

1,441,843

1,293,377

1,274,367

1,223,200

1,242,924

1,255,221

1,227,864

1,139,000

1,089,611

1,077,771

1,097,098

1,018,300

1,066,140

1,023,382

1,021,322

907,300

661,525

635,214

623,394

510,000

602,881

596,666

573,227

607,100

806,250

> Total Liabilities

8,143,123
8,201,500
8,354,465
9,275,555
8,780,307
9,551,915
6,600,261
6,715,500
6,638,539
6,251,685
6,236,869
6,274,400
6,405,561
5,975,043
6,367,972
6,281,900
6,591,053
6,701,325
6,633,701
6,517,400
6,556,278
6,387,603
6,384,079
6,505,400
6,483,605
6,214,984
6,322,322
6,559,400
6,438,765
6,716,834
6,640,136
7,907,100
7,823,888
8,012,200
8,244,400
9,476,400
9,532,800
8,778,300
8,575,800
8,825,400
9,381,800
8,857,000
8,459,000
8,851,200
8,622,600
8,551,200
8,808,200
9,461,000
9,410,000
9,468,000
9,260,000
9,630,000
9,578,000
9,794,000
9,706,000
9,963,000
10,052,000
9,876,000
10,133,000
11,030,000
11,831,000
12,139,000
14,439,000
14,841,000
14,059,000
14,377,000
14,752,000
14,595,000
14,359,000
14,204,000
13,914,000
13,698,000
13,884,000
14,111,000
13,981,000
14,618,000
15,096,000
14,776,000
15,324,000
15,298,000
16,533,000
16,097,000
16,208,000
16,321,000
16,255,000
15,739,000
16,977,000
34,348,000
33,607,000
34,460,000
35,621,000
34,609,000
33,982,000
38,168,000
38,742,000
37,491,000

37,491,000

38,742,000

38,168,000

33,982,000

34,609,000

35,621,000

34,460,000

33,607,000

34,348,000

16,977,000

15,739,000

16,255,000

16,321,000

16,208,000

16,097,000

16,533,000

15,298,000

15,324,000

14,776,000

15,096,000

14,618,000

13,981,000

14,111,000

13,884,000

13,698,000

13,914,000

14,204,000

14,359,000

14,595,000

14,752,000

14,377,000

14,059,000

14,841,000

14,439,000

12,139,000

11,831,000

11,030,000

10,133,000

9,876,000

10,052,000

9,963,000

9,706,000

9,794,000

9,578,000

9,630,000

9,260,000

9,468,000

9,410,000

9,461,000

8,808,200

8,551,200

8,622,600

8,851,200

8,459,000

8,857,000

9,381,800

8,825,400

8,575,800

8,778,300

9,532,800

9,476,400

8,244,400

8,012,200

7,823,888

7,907,100

6,640,136

6,716,834

6,438,765

6,559,400

6,322,322

6,214,984

6,483,605

6,505,400

6,384,079

6,387,603

6,556,278

6,517,400

6,633,701

6,701,325

6,591,053

6,281,900

6,367,972

5,975,043

6,405,561

6,274,400

6,236,869

6,251,685

6,638,539

6,715,500

6,600,261

9,551,915

8,780,307

9,275,555

8,354,465

8,201,500

8,143,123

> Total Current Liabilities

2,685,046
2,819,170
2,591,282
3,370,400
3,017,011
3,437,318
1,157,622
1,190,600
1,525,737
1,630,919
1,466,781
1,497,800
1,380,659
968,766
997,833
954,600
1,006,994
1,245,765
1,322,481
1,288,200
1,301,910
1,050,631
1,127,084
1,116,700
1,198,692
1,170,176
1,197,108
1,239,000
1,159,716
1,090,077
1,128,255
1,344,800
1,179,154
1,536,400
1,637,600
1,309,300
1,253,100
1,358,600
1,395,000
1,383,000
1,594,500
1,019,500
1,080,100
1,289,500
1,309,000
1,270,100
1,334,900
1,210,000
1,110,000
1,153,000
1,101,000
1,230,000
1,243,000
1,258,000
1,251,000
1,378,000
1,239,000
1,349,000
1,345,000
1,411,000
1,371,000
1,421,000
1,616,000
1,447,000
1,166,000
1,445,000
1,637,000
1,347,000
1,179,000
1,945,000
1,888,000
1,984,000
1,939,000
1,760,000
1,669,000
1,955,000
1,808,000
1,674,000
2,090,000
2,292,000
1,794,000
1,668,000
2,221,000
2,653,000
3,200,000
2,817,000
3,676,000
3,159,000
3,191,000
3,209,000
2,811,000
3,213,000
2,678,000
4,339,000
4,389,000
5,710,000

5,710,000

4,389,000

4,339,000

2,678,000

3,213,000

2,811,000

3,209,000

3,191,000

3,159,000

3,676,000

2,817,000

3,200,000

2,653,000

2,221,000

1,668,000

1,794,000

2,292,000

2,090,000

1,674,000

1,808,000

1,955,000

1,669,000

1,760,000

1,939,000

1,984,000

1,888,000

1,945,000

1,179,000

1,347,000

1,637,000

1,445,000

1,166,000

1,447,000

1,616,000

1,421,000

1,371,000

1,411,000

1,345,000

1,349,000

1,239,000

1,378,000

1,251,000

1,258,000

1,243,000

1,230,000

1,101,000

1,153,000

1,110,000

1,210,000

1,334,900

1,270,100

1,309,000

1,289,500

1,080,100

1,019,500

1,594,500

1,383,000

1,395,000

1,358,600

1,253,100

1,309,300

1,637,600

1,536,400

1,179,154

1,344,800

1,128,255

1,090,077

1,159,716

1,239,000

1,197,108

1,170,176

1,198,692

1,116,700

1,127,084

1,050,631

1,301,910

1,288,200

1,322,481

1,245,765

1,006,994

954,600

997,833

968,766

1,380,659

1,497,800

1,466,781

1,630,919

1,525,737

1,190,600

1,157,622

3,437,318

3,017,011

3,370,400

2,591,282

2,819,170

2,685,046

Short-term Debt

0
0
0
0
0
0
6,807
38,200
453,776
621,656
422,806
400,800
374,677
16,899
10,191
13,900
21,743
271,321
272,713
275,700
288,157
29,336
30,178
30,000
172,640
165,102
184,562
191,300
109,248
30,631
30,899
260,700
97,548
493,400
528,400
194,100
197,300
442,200
447,700
392,100
611,900
40,200
41,400
281,700
279,800
278,800
304,100
77,000
51,000
52,000
54,000
54,000
154,000
172,000
177,000
189,000
95,000
92,000
132,000
134,000
91,000
90,000
29,000
30,000
23,000
198,000
391,000
25,000
31,000
762,000
749,000
746,000
756,000
547,000
480,000
506,000
496,000
273,000
675,000
599,000
266,000
91,000
841,000
1,186,000
1,782,000
872,000
1,932,000
1,550,000
1,746,000
1,698,000
1,236,000
1,510,000
1,096,000
1,909,000
1,784,000
3,245,000

3,245,000

1,784,000

1,909,000

1,096,000

1,510,000

1,236,000

1,698,000

1,746,000

1,550,000

1,932,000

872,000

1,782,000

1,186,000

841,000

91,000

266,000

599,000

675,000

273,000

496,000

506,000

480,000

547,000

756,000

746,000

749,000

762,000

31,000

25,000

391,000

198,000

23,000

30,000

29,000

90,000

91,000

134,000

132,000

92,000

95,000

189,000

177,000

172,000

154,000

54,000

52,000

51,000

77,000

304,100

278,800

279,800

281,700

41,400

40,200

611,900

392,100

447,700

442,200

197,300

194,100

528,400

493,400

97,548

260,700

30,899

30,631

109,248

191,300

184,562

165,102

172,640

30,000

30,178

29,336

288,157

275,700

272,713

271,321

21,743

13,900

10,191

16,899

374,677

400,800

422,806

621,656

453,776

38,200

6,807

Short Long Term Debt

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
4,555,210
0
0
0
115,308
0
0
0
65,024
0
117,602
226,978
69,951
6,520,694
6,541,458
6,548,885
638,501
613,335
414,834
374,649
57,093
496,000
273,000
675,000
599,000
266,000
91,000
841,000
1,186,000
1,782,000
872,000
1,932,000
1,550,000
1,746,000
1,698,000
1,236,000
1,510,000
1,096,000
1,909,000
1,784,000
3,143,000

3,143,000

1,784,000

1,909,000

1,096,000

1,510,000

1,236,000

1,698,000

1,746,000

1,550,000

1,932,000

872,000

1,782,000

1,186,000

841,000

91,000

266,000

599,000

675,000

273,000

496,000

57,093

374,649

414,834

613,335

638,501

6,548,885

6,541,458

6,520,694

69,951

226,978

117,602

65,024

115,308

4,555,210

Accounts payable

1,601,822
1,681,775
1,711,844
2,131,041
1,907,481
2,532,761
1,040,698
1,028,800
1,020,498
961,489
1,004,103
984,200
936,494
915,554
947,477
907,000
948,177
940,881
1,007,580
975,300
969,729
987,965
1,044,543
1,032,800
953,918
933,688
856,503
1,002,600
864,281
941,121
1,027,332
980,800
970,178
954,200
1,005,900
1,034,900
967,200
834,600
871,700
917,300
900,600
897,700
1,009,329
226,000
1,060,812
1,028,960
981,621
387,000
1,068,833
1,082,702
1,065,866
321,000
1,071,007
1,034,581
1,041,707
358,000
1,035,294
1,177,959
1,083,132
407,000
1,008,827
1,065,397
1,191,889
339,000
878,825
964,797
949,044
352,000
862,315
912,457
910,544
402,000
916,131
919,915
928,036
474,000
71,227
86,941
81,011
453,000
1,463,000
1,577,000
1,365,000
401,000
401,000
1,945,000
1,744,000
432,000
432,000
1,511,000
1,575,000
503,000
1,582,000
2,176,000
2,349,000
680,000

680,000

2,349,000

2,176,000

1,582,000

503,000

1,575,000

1,511,000

432,000

1,744,000

1,945,000

401,000

1,365,000

1,577,000

1,463,000

453,000

81,011

86,941

71,227

474,000

928,036

919,915

916,131

402,000

910,544

912,457

862,315

352,000

949,044

964,797

878,825

339,000

1,191,889

1,065,397

1,008,827

407,000

1,083,132

1,177,959

1,035,294

358,000

1,041,707

1,034,581

1,071,007

321,000

1,065,866

1,082,702

1,068,833

387,000

981,621

1,028,960

1,060,812

226,000

1,009,329

897,700

900,600

917,300

871,700

834,600

967,200

1,034,900

1,005,900

954,200

970,178

980,800

1,027,332

941,121

864,281

1,002,600

856,503

933,688

953,918

1,032,800

1,044,543

987,965

969,729

975,300

1,007,580

940,881

948,177

907,000

947,477

915,554

936,494

984,200

1,004,103

961,489

1,020,498

1,028,800

1,040,698

2,532,761

1,907,481

2,131,041

1,711,844

1,681,775

1,601,822

Other Current Liabilities

36,436
35,126
34,247
34,587
32,758
34,280
110,116
123,600
51,463
47,775
39,872
20,200
69,488
36,313
40,165
20,200
37,074
33,563
42,187
21,000
44,024
33,329
52,363
23,700
72,133
71,386
1,012,546
29,100
1,050,468
1,059,446
1,097,356
34,500
1,081,607
50,700
38,100
38,100
41,600
41,600
41,600
41,700
41,700
45,500
1,038,700
114,200
1,029,200
991,300
1,030,800
48,000
1,059,000
1,101,000
1,047,000
819,000
1,089,000
1,086,000
1,074,000
785,000
1,144,000
1,257,000
1,213,000
775,000
1,280,000
1,331,000
1,587,000
860,000
1,143,000
1,247,000
1,246,000
69,000
1,148,000
1,183,000
1,139,000
55,000
1,183,000
1,213,000
1,189,000
871,000
1,312,000
1,401,000
1,415,000
1,098,000
1,528,000
1,577,000
1,380,000
1,028,000
1,418,000
1,945,000
1,744,000
1,143,000
1,445,000
-11,646,000
-12,226,000
1,200,000
1,582,000
2,430,000
2,605,000
60,000

60,000

2,605,000

2,430,000

1,582,000

1,200,000

-12,226,000

-11,646,000

1,445,000

1,143,000

1,744,000

1,945,000

1,418,000

1,028,000

1,380,000

1,577,000

1,528,000

1,098,000

1,415,000

1,401,000

1,312,000

871,000

1,189,000

1,213,000

1,183,000

55,000

1,139,000

1,183,000

1,148,000

69,000

1,246,000

1,247,000

1,143,000

860,000

1,587,000

1,331,000

1,280,000

775,000

1,213,000

1,257,000

1,144,000

785,000

1,074,000

1,086,000

1,089,000

819,000

1,047,000

1,101,000

1,059,000

48,000

1,030,800

991,300

1,029,200

114,200

1,038,700

45,500

41,700

41,600

38,100

50,700

1,081,607

34,500

1,097,356

1,059,446

1,050,468

29,100

1,012,546

71,386

72,133

23,700

52,363

33,329

44,024

21,000

42,187

33,563

37,074

20,200

40,165

36,313

69,488

20,200

39,872

47,775

51,463

123,600

110,116

34,280

32,758

34,587

34,247

35,126

36,436

> Long-term Liabilities

0
0
0
0
0
0
5,442,640
5,524,900
5,112,802
4,620,766
4,770,087
4,776,600
5,024,902
5,006,278
5,370,139
5,327,300
5,584,059
5,455,560
5,311,220
5,229,200
5,254,368
5,336,972
5,256,995
5,388,700
5,284,913
5,044,808
5,125,214
5,320,400
5,279,049
5,626,758
5,511,881
6,562,300
6,644,734
6,475,800
6,606,800
8,167,100
8,279,700
7,419,700
7,180,800
7,442,400
7,787,300
7,837,500
7,378,900
7,561,700
7,313,600
7,281,100
7,473,300
8,251,000
8,300,000
8,315,000
8,159,000
8,400,000
8,335,000
8,536,000
8,455,000
8,585,000
8,813,000
8,527,000
8,788,000
9,619,000
10,460,000
10,718,000
12,823,000
13,394,000
12,893,000
12,932,000
13,115,000
13,248,000
13,180,000
12,259,000
12,026,000
11,714,000
11,945,000
12,351,000
12,312,000
12,663,000
13,288,000
13,102,000
13,234,000
13,006,000
14,739,000
14,429,000
13,987,000
13,668,000
13,055,000
12,922,000
13,301,000
31,189,000
30,416,000
31,251,000
32,810,000
31,396,000
31,304,000
33,829,000
34,353,000
31,781,000

31,781,000

34,353,000

33,829,000

31,304,000

31,396,000

32,810,000

31,251,000

30,416,000

31,189,000

13,301,000

12,922,000

13,055,000

13,668,000

13,987,000

14,429,000

14,739,000

13,006,000

13,234,000

13,102,000

13,288,000

12,663,000

12,312,000

12,351,000

11,945,000

11,714,000

12,026,000

12,259,000

13,180,000

13,248,000

13,115,000

12,932,000

12,893,000

13,394,000

12,823,000

10,718,000

10,460,000

9,619,000

8,788,000

8,527,000

8,813,000

8,585,000

8,455,000

8,536,000

8,335,000

8,400,000

8,159,000

8,315,000

8,300,000

8,251,000

7,473,300

7,281,100

7,313,600

7,561,700

7,378,900

7,837,500

7,787,300

7,442,400

7,180,800

7,419,700

8,279,700

8,167,100

6,606,800

6,475,800

6,644,734

6,562,300

5,511,881

5,626,758

5,279,049

5,320,400

5,125,214

5,044,808

5,284,913

5,388,700

5,256,995

5,336,972

5,254,368

5,229,200

5,311,220

5,455,560

5,584,059

5,327,300

5,370,139

5,006,278

5,024,902

4,776,600

4,770,087

4,620,766

5,112,802

5,524,900

5,442,640

Long term Debt Total

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,272,857
15,674
8,266,000
8,308,000
8,158,000
9,804,000
9,457,000
8,945,000
8,585,000
7,958,000
7,850,000
8,036,000
18,577,000
0
0
0
0
0
0
0
0

18,577,000

8,036,000

7,850,000

7,958,000

8,585,000

8,945,000

9,457,000

9,804,000

8,158,000

8,308,000

8,266,000

15,674

1,272,857

Long-term Liabilities Other

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
598,000
598,000
579,000
70,000
541,000
544,000
576,000
585,000
537,000
525,000
522,000
542,000
521,000
509,000
519,000
520,000
484,000
834,000
799,000
110,000

110,000

799,000

834,000

484,000

520,000

519,000

509,000

521,000

542,000

522,000

525,000

537,000

585,000

576,000

544,000

541,000

70,000

579,000

598,000

Deferred Long Term Liability

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
6,589
0
0
0
7,745
0
0
0
4,335
0
0
0
5,209
0
0
2,361,500
3,986
2,035,933
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

2,035,933

3,986

2,361,500

5,209

4,335

7,745

6,589

> Total Stockholder Equity

5,797,115
5,798,095
5,943,760
6,404,920
6,476,886
7,054,756
3,037,204
3,137,500
3,090,730
3,250,194
3,278,623
3,386,400
3,472,925
3,497,856
3,549,419
3,675,200
3,669,967
3,743,725
3,895,122
3,982,400
4,047,108
4,121,197
4,242,928
4,385,700
4,455,181
4,698,850
4,767,170
4,856,500
4,941,499
4,983,423
5,160,895
5,457,900
5,516,847
5,666,000
5,805,300
5,993,400
6,504,500
6,606,500
6,745,200
6,706,000
4,792,500
4,882,000
5,071,800
4,824,700
4,900,700
5,004,600
5,199,300
4,649,000
4,826,000
4,938,000
5,231,000
5,097,000
5,449,000
5,725,000
6,028,000
7,097,000
7,263,000
7,136,000
7,092,000
5,610,000
5,418,000
5,251,000
3,992,000
4,796,000
5,290,000
4,691,000
4,669,000
4,626,000
5,038,000
5,333,000
5,565,000
6,437,000
6,434,000
6,574,000
7,128,000
6,636,000
6,814,000
7,157,000
7,215,000
7,069,000
6,955,000
7,465,000
7,579,000
7,319,000
7,866,000
8,965,000
9,468,000
33,829,000
33,985,000
35,414,000
37,814,000
38,886,000
39,520,000
40,079,000
41,310,000
41,492,000

41,492,000

41,310,000

40,079,000

39,520,000

38,886,000

37,814,000

35,414,000

33,985,000

33,829,000

9,468,000

8,965,000

7,866,000

7,319,000

7,579,000

7,465,000

6,955,000

7,069,000

7,215,000

7,157,000

6,814,000

6,636,000

7,128,000

6,574,000

6,434,000

6,437,000

5,565,000

5,333,000

5,038,000

4,626,000

4,669,000

4,691,000

5,290,000

4,796,000

3,992,000

5,251,000

5,418,000

5,610,000

7,092,000

7,136,000

7,263,000

7,097,000

6,028,000

5,725,000

5,449,000

5,097,000

5,231,000

4,938,000

4,826,000

4,649,000

5,199,300

5,004,600

4,900,700

4,824,700

5,071,800

4,882,000

4,792,500

6,706,000

6,745,200

6,606,500

6,504,500

5,993,400

5,805,300

5,666,000

5,516,847

5,457,900

5,160,895

4,983,423

4,941,499

4,856,500

4,767,170

4,698,850

4,455,181

4,385,700

4,242,928

4,121,197

4,047,108

3,982,400

3,895,122

3,743,725

3,669,967

3,675,200

3,549,419

3,497,856

3,472,925

3,386,400

3,278,623

3,250,194

3,090,730

3,137,500

3,037,204

7,054,756

6,476,886

6,404,920

5,943,760

5,798,095

5,797,115

Common Stock

1,188,117
1,147,730
1,123,211
1,136,135
1,103,712
1,167,768
1,113,674
1,114,100
697,391
735,655
703,258
1,116,100
760,234
828,792
825,547
1,118,100
854,012
839,310
886,538
1,120,600
930,042
916,850
959,598
1,141,500
1,005,820
1,050,841
1,045,622
1,175,700
1,022,562
1,118,894
1,197,378
1,188,600
1,179,612
1,216,900
1,218,900
1,220,800
1,718,200
1,722,200
1,616,442
1,660,076
1,748,966
1,672,741
1,754,834
1,818,255
1,880,025
1,895,267
1,741,834
1,818,182
1,926,726
1,934,000
2,042,000
2,127,000
2,183,000
2,213,000
2,221,000
2,240,000
2,253,000
2,248,000
2,240,000
2,185,000
2,177,000
2,151,000
2,054,000
2,058,000
2,065,000
2,000,000
2,000,000
2,002,000
2,036,000
2,038,000
2,025,000
2,032,000
2,022,000
2,013,000
2,017,000
2,002,000
1,997,000
1,996,000
1,982,000
1,993,000
1,985,000
1,990,000
1,978,000
1,983,000
1,993,000
2,003,000
2,008,000
25,475,000
25,486,000
25,488,000
25,498,000
25,516,000
25,538,000
25,563,000
25,579,000
25,602,000

25,602,000

25,579,000

25,563,000

25,538,000

25,516,000

25,498,000

25,488,000

25,486,000

25,475,000

2,008,000

2,003,000

1,993,000

1,983,000

1,978,000

1,990,000

1,985,000

1,993,000

1,982,000

1,996,000

1,997,000

2,002,000

2,017,000

2,013,000

2,022,000

2,032,000

2,025,000

2,038,000

2,036,000

2,002,000

2,000,000

2,065,000

2,058,000

2,054,000

2,151,000

2,177,000

2,185,000

2,240,000

2,248,000

2,253,000

2,240,000

2,221,000

2,213,000

2,183,000

2,127,000

2,042,000

1,934,000

1,926,726

1,818,182

1,741,834

1,895,267

1,880,025

1,818,255

1,754,834

1,672,741

1,748,966

1,660,076

1,616,442

1,722,200

1,718,200

1,220,800

1,218,900

1,216,900

1,179,612

1,188,600

1,197,378

1,118,894

1,022,562

1,175,700

1,045,622

1,050,841

1,005,820

1,141,500

959,598

916,850

930,042

1,120,600

886,538

839,310

854,012

1,118,100

825,547

828,792

760,234

1,116,100

703,258

735,655

697,391

1,114,100

1,113,674

1,167,768

1,103,712

1,136,135

1,123,211

1,147,730

1,188,117

Retained Earnings

4,131,737
4,288,436
4,503,312
4,968,832
5,090,179
5,591,413
1,517,501
1,606,800
1,559,883
1,712,614
1,750,284
1,856,900
1,941,473
1,959,157
2,020,546
2,174,800
2,161,480
2,231,464
2,386,715
2,484,400
2,545,489
2,637,802
2,821,257
2,935,100
3,013,414
3,354,000
3,490,109
3,582,100
3,643,321
3,698,553
3,879,346
4,187,300
4,229,174
4,356,900
4,491,600
4,654,100
4,664,600
4,780,300
4,934,100
4,876,600
4,723,300
4,781,300
4,932,900
5,073,000
5,061,000
5,138,200
5,274,100
5,445,000
5,536,000
5,579,000
5,742,000
5,697,000
5,852,000
6,042,000
6,305,000
6,326,000
6,439,000
6,306,000
6,249,000
5,608,000
5,410,000
5,193,000
4,009,000
4,172,000
4,658,000
4,113,000
4,059,000
4,371,000
4,729,000
4,993,000
5,213,000
6,103,000
6,072,000
6,189,000
6,718,000
6,635,000
6,798,000
7,125,000
7,180,000
7,550,000
7,399,000
7,872,000
7,961,000
8,095,000
8,571,000
9,690,000
10,035,000
10,391,000
10,804,000
11,392,000
12,106,000
13,201,000
13,824,000
14,972,000
15,575,000
16,420,000

16,420,000

15,575,000

14,972,000

13,824,000

13,201,000

12,106,000

11,392,000

10,804,000

10,391,000

10,035,000

9,690,000

8,571,000

8,095,000

7,961,000

7,872,000

7,399,000

7,550,000

7,180,000

7,125,000

6,798,000

6,635,000

6,718,000

6,189,000

6,072,000

6,103,000

5,213,000

4,993,000

4,729,000

4,371,000

4,059,000

4,113,000

4,658,000

4,172,000

4,009,000

5,193,000

5,410,000

5,608,000

6,249,000

6,306,000

6,439,000

6,326,000

6,305,000

6,042,000

5,852,000

5,697,000

5,742,000

5,579,000

5,536,000

5,445,000

5,274,100

5,138,200

5,061,000

5,073,000

4,932,900

4,781,300

4,723,300

4,876,600

4,934,100

4,780,300

4,664,600

4,654,100

4,491,600

4,356,900

4,229,174

4,187,300

3,879,346

3,698,553

3,643,321

3,582,100

3,490,109

3,354,000

3,013,414

2,935,100

2,821,257

2,637,802

2,545,489

2,484,400

2,386,715

2,231,464

2,161,480

2,174,800

2,020,546

1,959,157

1,941,473

1,856,900

1,750,284

1,712,614

1,559,883

1,606,800

1,517,501

5,591,413

5,090,179

4,968,832

4,503,312

4,288,436

4,131,737

Capital Surplus

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
6,527
86
45,000
45,000
48,000
51,000
53,000
56,000
55,000
58,000
63,000
68,000
66,000
0
0
0
0
0
0
0
0

66,000

68,000

63,000

58,000

55,000

56,000

53,000

51,000

48,000

45,000

6,527

Treasury Stock

Other Stockholders Equity

0
0
0
0
0
0
406,029
4,493,165
1,407,390
1,411,623
1,406,123
291,100
1,408,995
1,415,679
1,406,679
294,600
1,417,307
1,422,626
1,423,831
300,400
1,428,178
1,409,456
1,354,120
241,600
1,372,631
1,280,643
1,213,378
32,300
6,311,309
6,300,724
6,292,250
42,400
6,378,421
39,800
41,300
40,200
35,100
35,100
1,763,200
1,779,900
1,805,400
1,810,200
1,831,400
1,837,500
1,904,200
1,911,000
1,917,700
1,940,000
1,981,000
81,000
57,000
41,000
35,000
33,000
35,000
34,000
36,000
34,000
35,000
36,000
38,000
40,000
42,000
43,000
48,000
49,000
43,000
52,000
42,000
42,000
42,000
43,000
45,000
45,000
47,000
42,000
46,000
45,000
45,000
48,000
51,000
53,000
56,000
55,000
58,000
63,000
68,000
66,000
68,000
73,000
77,000
78,000
84,000
88,000
90,000
88,000

88,000

90,000

88,000

84,000

78,000

77,000

73,000

68,000

66,000

68,000

63,000

58,000

55,000

56,000

53,000

51,000

48,000

45,000

46,000

42,000

47,000

45,000

43,000

42,000

52,000

43,000

49,000

48,000

43,000

42,000

40,000

38,000

36,000

35,000

34,000

36,000

34,000

35,000

33,000

35,000

41,000

57,000

81,000

1,981,000

1,940,000

1,917,700

1,911,000

1,904,200

1,837,500

1,831,400

1,810,200

1,805,400

1,779,900

1,763,200

35,100

40,200

41,300

39,800

6,378,421

42,400

6,292,250

6,300,724

6,311,309

32,300

1,213,378

1,280,643

1,372,631

241,600

1,354,120

1,409,456

1,428,178

300,400

1,423,831

1,422,626

1,417,307

294,600

1,406,679

1,415,679

1,408,995

291,100

1,406,123

1,411,623

1,407,390

4,493,165

406,029

Balance Sheet

Currency in CAD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31
Accounts Payable	680,000	503,000	432,000	401,000	453,000	474,000	402,000	352,000	339,000	407,000	358,000	321,000	387,000	226,000	927,100	1,034,900	980,800	1,002,600	1,032,800	975,300	907,000	984,200	1,028,800	1,023,500	1,134,800	1,389,200	1,227,600
Accumulated Amortization	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Other Comprehensive Income	-618,000	91,000	-2,103,000	-2,814,000	-2,522,000	-2,043,000	-1,741,000	-1,799,000	-1,477,000	-2,219,000	-1,503,000	-2,768,000	-2,736,000	-2,085,800	-1,746,300	78,300	39,600	66,400	67,500	77,000	87,700	122,300	125,500	84,300	67,800	95,300	79,000
Additional Paid In Capital	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	344,000	270,000	283,000	311,000	354,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Stock	25,602,000	25,516,000	25,475,000	1,983,000	1,993,000	2,002,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Surpluse	0	0	66,000	55,000	48,000	42,000	43,000	52,000	43,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash	464,000	451,000	69,000	147,000	133,000	61,000	338,000	164,000	650,000	226,000	476,000	333,000	47,000	360,600	679,100	117,600	378,100	124,300	121,800	352,484	135,128	285,983	558,458	0	0	0	0
Cash And Equivalents	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash And Short Term Investments	464,000	451,000	69,000	147,000	133,000	61,000	338,000	164,000	650,000	226,000	476,000	333,000	47,000	360,600	679,100	117,600	378,100	124,300	121,800	352,484	135,128	285,983	558,458	82,800	58,800	50,400	75,400
Common Stock	25,602,000	25,516,000	25,475,000	1,983,000	1,993,000	2,002,000	2,032,000	2,002,000	2,058,000	2,185,000	2,240,000	2,127,000	1,818,182	1,818,255	1,660,076	1,220,800	1,188,600	1,175,700	1,141,500	1,120,600	1,118,100	1,116,100	1,114,100	1,812,500	1,812,500	1,812,500	1,804,500
Common Stock Shares Outstanding	933,700	932,900	682,800	680,000	696,500	716,500	731,500	752,500	805,000	872,000	882,500	866,000	853,000	846,000	834,000	777,638	778,000	793,127	800,885	795,000	796,000	796,569	795,154	1,736,000	1,736,000	792,000	794,275
Common Stock Total Equity	0	0	0	1,983,000	1,993,000	2,002,000	2,032,000	2,002,000	2,058,000	2,185,000	2,240,000	2,127,000	0	0	0	1,220,800	1,188,600	1,175,700	1,141,500	1,120,600	1,118,100	1,116,100	1,114,100	1,812,500	1,812,500	1,812,500	1,804,500
Current Deferred Revenue	1,725,000	0	34,000	38,000	142,000	104,000	781,000	901,000	218,000	95,000	46,000	36,000	698,000	667,600	31,900	42,200	68,800	16,000	30,200	16,200	13,500	92,600	0	0	0	0	93,000
Deferred Long Term Asset Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Deferred Long Term Liab	0	0	0	0	0	0	0	7,000	617	7,745	6,589	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Earning Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Good Will	17,729,000	344,000	328,000	329,000	194,000	194,000	178,000	191,000	198,000	164,000	150,000	146,000	147,102	147,041	154,900	147,600	0	0	0	0	0	0	0	648,837	0	0	0
Intangible Assets	4,736,000	42,000	43,000	37,000	12,000	8,000	9,000	11,000	13,000	12,000	12,000	15,000	188,291	190,371	47,400	194,938	0	0	0	0	0	0	0	720,156	0	0	0
Inventory	400,000	284,000	235,000	208,000	182,000	173,000	152,000	184,000	188,000	177,000	165,000	136,000	138,000	114,100	132,700	215,800	179,500	158,600	140,100	134,100	106,400	108,900	102,300	131,000	176,100	194,600	173,000
Liabilities And Stockholders Equity	79,902,000	73,495,000	68,177,000	23,640,000	22,367,000	21,254,000	20,135,000	19,221,000	19,637,000	16,640,000	17,060,000	14,727,000	14,110,000	13,675,900	14,243,800	15,469,800	13,365,000	11,415,900	10,891,100	10,499,800	9,957,100	9,660,800	9,853,000	8,808,200	8,764,600	8,364,100	7,842,300
Long Term Debt	19,351,000	18,141,000	18,577,000	8,585,000	8,014,000	8,190,000	7,413,000	8,659,000	8,756,000	4,869,633	4,412,125	4,672,445	4,604,295	4,045,336	3,899,905	3,850,920	4,159,928	2,413,157	2,547,856	2,556,359	2,582,035	1,858,015	2,329,774	2,702,326	0	0	0
Long Term Debt Total	0	0	18,577,000	8,585,000	8,158,000	8,190,000	7,413,000	8,659,000	8,927,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long Term Investments	533,000	45,314,000	42,518,000	199,000	341,000	203,000	182,000	194,000	15,620	96,377	86,605	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Negative Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Debt	22,374,000	19,200,000	20,058,000	9,624,000	8,624,000	8,635,000	7,821,000	8,520,000	8,307,000	5,567,000	4,400,000	4,357,000	4,725,000	3,954,300	4,064,400	4,762,300	4,028,800	2,880,500	2,879,000	2,998,516	3,227,672	3,036,917	3,188,742	2,279,400	1,661,600	1,509,400	1,400,900
Net Invested Capital	63,986,000	58,537,000	53,956,000	17,090,000	15,826,000	15,332,000	14,596,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Receivables	1,887,000	1,016,000	819,000	825,000	805,000	815,000	687,000	591,000	645,000	702,000	580,000	546,000	518,000	459,000	655,100	713,100	542,800	615,700	524,000	434,700	395,700	443,000	464,100	495,300	503,800	458,700	402,000
Net Tangible Assets	0	38,500,000	33,458,000	6,953,000	6,551,000	6,135,000	6,250,000	4,424,000	471,159	4,676,018	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Working Capital	-2,708,000	-1,324,000	-1,807,000	-1,332,000	-1,082,000	-838,000	-710,000	-338,000	90,000	-134,000	651,000	99,000	-354,000	-85,700	35,500	-186,300	-177,100	-234,100	-222,800	-296,200	-230,400	-588,500	24,900	-355,300	-468,000	-759,000	-277,500
Non Current Assets Total	76,900,000	71,606,000	66,825,000	22,319,000	21,157,000	20,137,000	18,861,000	18,212,000	18,100,000	15,363,000	15,031,000	13,398,000	13,254,000	12,472,100	12,602,300	14,346,800	12,197,300	10,411,000	9,997,200	9,507,800	9,232,900	8,751,500	8,637,500	7,978,800	7,971,200	7,610,900	6,621,600
Non Current Liabilities Other	110,000	520,000	542,000	585,000	70,000	45,000	48,000	59,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Current Liabilities Total	31,781,000	31,396,000	31,189,000	13,668,000	13,006,000	12,663,000	11,714,000	13,248,000	13,394,000	9,619,000	8,585,000	8,400,000	8,251,000	7,561,700	7,917,000	8,167,100	6,562,300	5,320,400	5,388,700	5,229,200	5,327,300	4,776,600	5,524,900	4,060,700	4,365,200	3,617,500	3,503,700
Non Currrent Assets Other	235,000	3,521,000	419,000	438,000	451,000	-2,204,000	-1,845,000	-2,444,000	-1,927,000	333,000	422,000	132,000	143,000	140,600	175,800	39,600	1,235,600	1,223,200	1,139,000	1,018,300	907,300	510,000	607,100	484,300	360,300	395,000	280,300
Noncontrolling Interest In Consolidated Entity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Assets	0	71,135,000	67,896,000	22,103,000	1,096,000	1,314,000	1,476,000	1,127,000	1,462,000	524,051	1,338,605	142,108	140,237	134,403	1,689,354	1,135,437	1,239,691	1,049,147	976,844	846,467	699,537	324,283	381,344	814,733	0	0	0
Other Current Assets	251,000	138,000	216,000	141,000	90,000	68,000	97,000	70,000	54,000	116,000	53,000	60,000	52,000	47,800	46,500	76,500	67,300	106,300	108,000	516	-428	-1,083	-1,558	120,300	54,700	49,500	570,300
Other Current Liab	60,000	1,200,000	1,143,000	1,028,000	1,098,000	871,000	55,000	69,000	860,000	775,000	785,000	819,000	48,000	114,200	41,700	38,100	34,500	29,100	23,700	21,000	20,200	20,200	123,600	158,100	111,000	102,800	152,600
Other Liab	0	13,053,000	12,329,000	4,772,000	4,563,000	4,473,000	4,301,000	4,589,000	459,033	1,021,427	936,647	1,685,144	1,703,442	1,588,465	751,141	711,045	716,966	622,438	637,650	638,238	517,502	416,100	452,513	908,707	0	0	0
Other Stockholder Equity	88,000	78,000	66,000	55,000	48,000	42,000	43,000	52,000	43,000	36,000	34,000	41,000	1,940,000	1,837,500	1,801,900	40,200	42,400	32,300	241,600	300,400	294,600	291,100	4,493,165	383,700	365,700	379,000	355,400
Preferred Stock Redeemable	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	147,463	0	0	0
Property Plant And Equipment Gross	60,353,000	31,947,000	30,138,000	20,738,000	19,514,000	18,418,000	17,016,000	16,689,000	16,273,000	14,438,000	13,327,000	13,013,000	12,752,000	11,996,800	11,967,800	12,576,900	9,293,100	9,122,900	8,790,900	8,393,500	8,220,000	8,149,300	7,935,500	7,389,300	7,471,600	7,035,400	6,176,300
Property Plant And Equipment Net	50,329,000	22,385,000	21,200,000	20,422,000	19,156,000	18,418,000	17,016,000	16,689,000	16,273,000	14,438,000	13,327,000	13,013,000	12,752,000	11,996,800	12,067,500	12,576,900	9,293,100	9,122,900	8,790,900	8,393,500	8,220,000	8,149,300	7,935,500	7,389,300	7,471,600	7,035,400	6,176,300
Property Plant Equipment	0	22,652,000	21,200,000	20,422,000	19,202,000	18,119,000	17,016,000	16,689,000	16,273,000	12,424,060	12,545,420	13,115,299	12,505,639	12,032,899	11,376,236	10,336,045	9,323,869	7,824,771	7,539,365	6,977,140	6,337,702	5,181,726	4,984,611	11,909,779	0	0	0
Retained Earnings	16,420,000	13,201,000	10,391,000	8,095,000	7,550,000	6,635,000	6,103,000	4,371,000	4,172,000	5,608,000	6,326,000	5,697,000	5,445,000	5,073,000	4,665,200	4,654,100	4,187,300	3,582,100	2,935,100	2,484,400	2,174,800	1,856,900	1,606,800	1,366,600	959,800	1,042,900	680,500
Retained Earnings Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt	3,143,000	1,510,000	1,550,000	1,186,000	599,000	506,000	746,000	25,000	9,248	115,308	4,555,210	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt Total	22,838,000	19,651,000	20,127,000	9,771,000	8,757,000	8,696,000	8,159,000	8,684,000	8,957,000	5,793,000	4,876,000	4,690,000	4,772,000	4,314,900	4,743,500	4,879,900	4,406,900	3,004,800	3,000,800	3,351,000	3,362,800	3,322,900	3,747,200	2,279,400	1,661,600	1,509,400	1,400,900
Short Term Debt	3,245,000	1,510,000	1,550,000	1,186,000	599,000	506,000	746,000	25,000	30,000	134,000	189,000	54,000	77,000	281,700	605,300	194,100	260,700	191,300	30,000	275,700	13,900	400,800	38,200	3,100	15,600	20,200	25,000
Short Term Investments	0	0	-12,299,000	199,000	0	0	0	0	0	0	386,896	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Temporary Equity Redeemable Noncontrolling Interests	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Assets	79,902,000	73,495,000	68,177,000	23,640,000	22,367,000	21,254,000	20,135,000	19,221,000	19,637,000	16,640,000	17,060,000	14,727,000	14,110,000	13,675,900	14,243,800	15,469,800	13,365,000	11,415,900	10,891,100	10,499,800	9,957,100	9,660,800	9,853,000	8,808,200	8,764,600	8,364,100	7,842,300
Total Current Assets	3,002,000	1,889,000	1,352,000	1,321,000	1,210,000	1,117,000	1,274,000	1,009,000	1,537,000	1,277,000	2,029,000	1,329,000	856,000	1,203,800	1,641,500	1,123,000	1,167,700	1,004,900	893,900	992,000	724,200	909,300	1,215,500	829,400	793,400	753,200	1,220,700
Total Current Liabilities	5,710,000	3,213,000	3,159,000	2,653,000	2,292,000	1,955,000	1,984,000	1,347,000	1,447,000	1,411,000	1,378,000	1,230,000	1,210,000	1,289,500	1,606,000	1,309,300	1,344,800	1,239,000	1,116,700	1,288,200	954,600	1,497,800	1,190,600	1,184,700	1,261,400	1,512,200	1,498,200
Total Liab	37,491,000	34,609,000	34,348,000	16,321,000	15,298,000	14,618,000	13,698,000	14,595,000	14,841,000	11,030,000	9,963,000	9,630,000	9,461,000	8,851,200	9,523,000	9,476,400	7,907,100	6,559,400	6,505,400	6,517,400	6,281,900	6,274,400	6,715,500	5,245,400	5,626,600	5,129,700	5,001,900
Total Permanent Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Stockholder Equity	41,492,000	38,886,000	33,829,000	7,319,000	7,069,000	6,636,000	6,437,000	4,626,000	4,796,000	5,610,000	7,097,000	5,097,000	4,649,000	4,824,700	4,720,800	5,993,400	5,457,900	4,856,500	4,385,700	3,982,400	3,675,200	3,386,400	3,137,500	3,562,800	3,138,000	3,234,400	2,840,400
Treasury Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Warrants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-06-30	2002-03-31	2001-12-31	2001-09-30	2001-06-30	2001-03-31	2000-12-31	2000-09-30	2000-06-30	2000-03-31
Accounts Payable	680,000	2,349,000	2,176,000	1,582,000	503,000	1,575,000	1,511,000	432,000	432,000	1,744,000	1,945,000	401,000	401,000	1,365,000	1,577,000	1,463,000	453,000	81,011	86,941	71,227	474,000	928,036	919,915	916,131	402,000	910,544	912,457	862,315	352,000	949,044	964,797	878,825	339,000	1,191,889	1,065,397	1,008,827	407,000	1,083,132	1,177,959	1,035,294	358,000	1,041,707	1,034,581	1,071,007	321,000	1,065,866	1,082,702	1,068,833	387,000	981,621	1,028,960	1,060,812	226,000	1,009,329	897,700	900,600	917,300	871,700	834,600	967,200	1,034,900	1,005,900	954,200	970,178	980,800	1,027,332	941,121	864,281	1,002,600	856,503	933,688	953,918	1,032,800	1,044,543	987,965	969,729	975,300	1,007,580	940,881	948,177	907,000	947,477	915,554	936,494	984,200	1,004,103	961,489	1,020,498	1,028,800	1,040,698	2,532,761	1,907,481	2,131,041	1,711,844	1,681,775	1,601,822
Accumulated Amortization	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Accumulated Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Accumulated Other Comprehensive Income	-618,000	66,000	-544,000	74,000	91,000	133,000	-1,539,000	-2,373,000	-2,103,000	-2,643,000	-2,791,000	-2,756,000	-2,814,000	-2,416,000	-2,450,000	-2,480,000	-2,522,000	-1,992,000	-2,009,000	-2,027,000	-2,043,000	-1,654,000	-1,673,000	-1,705,000	-1,741,000	-1,715,000	-1,740,000	-1,769,000	-1,799,000	-1,433,000	-1,471,000	-1,481,000	-1,477,000	-2,113,000	-2,133,000	-2,207,000	-2,219,000	-1,432,000	-1,452,000	-1,465,000	-1,503,000	-2,533,000	-2,563,000	-2,621,000	-2,768,000	-2,610,000	-2,656,000	-2,691,000	-2,736,000	-1,992,500	-2,044,600	-2,064,500	-2,085,800	-1,692,500	-1,709,500	-1,736,200	49,500	47,900	68,900	86,600	78,300	53,500	52,400	-5,090,748	39,600	-5,010,701	-5,015,855	-5,013,131	66,400	63,684	64,207	69,136	67,500	67,552	73,940	73,440	77,000	84,577	89,636	91,180	87,700	122,194	123,020	122,457	122,300	122,215	125,956	123,457	125,500	114,621	0	0	0	0	0	0
Additional Paid In Capital	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	344,000	0	0	0	270,000	0	0	0	283,000	0	0	0	311,000	0	0	0	354,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Capital Stock	25,602,000	25,579,000	25,563,000	25,538,000	25,516,000	25,498,000	25,488,000	25,486,000	25,475,000	2,008,000	2,003,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Capital Surpluse	0	0	0	0	0	0	0	0	66,000	68,000	63,000	58,000	55,000	56,000	53,000	51,000	48,000	45,000	45,000	86	6,527	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Cash	464,000	294,000	325,000	290,000	451,000	138,000	154,000	85,000	69,000	210,000	892,000	360,000	147,000	183,000	277,000	247,000	133,000	145,000	45,000	352,000	61,000	150,000	51,000	125,000	338,000	142,000	238,000	201,000	164,000	103,000	92,000	571,000	650,000	661,000	185,000	184,000	226,000	315,000	369,000	279,000	476,000	329,000	442,000	347,000	333,000	207,000	82,000	77,000	47,000	97,000	267,800	310,500	360,600	267,800	373,600	723,800	679,100	615,900	334,300	566,500	117,600	97,900	80,900	71,117	378,100	339,187	392,488	25,611	124,300	46,315	44,167	47,456	121,800	86,538	131,416	274,650	352,484	324,644	306,894	261,318	135,128	359,688	50,093	506,345	285,983	127,811	321,768	502,739	558,458	105,511	0	0	0	0	0	0
Cash And Equivalents	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Cash And Short Term Investments	464,000	567,000	589,000	290,000	451,000	138,000	154,000	85,000	69,000	210,000	892,000	360,000	147,000	183,000	277,000	247,000	133,000	145,000	45,000	352,000	61,000	150,000	51,000	125,000	338,000	142,000	238,000	201,000	164,000	103,000	92,000	571,000	650,000	661,000	185,000	184,000	226,000	315,000	369,000	279,000	476,000	329,000	442,000	347,000	333,000	207,000	82,000	77,000	47,000	97,000	267,800	310,500	360,600	267,800	373,600	723,800	679,100	615,900	334,300	566,500	117,600	97,900	80,900	71,117	378,100	339,187	392,488	25,611	124,300	46,315	44,167	47,456	121,800	86,538	131,416	274,650	352,484	324,644	306,894	261,318	135,128	359,688	50,093	506,345	285,983	127,811	321,768	502,739	558,458	105,511	0	0	0	0	0	-
Common Stock	25,602,000	25,579,000	25,563,000	25,538,000	25,516,000	25,498,000	25,488,000	25,486,000	25,475,000	2,008,000	2,003,000	1,993,000	1,983,000	1,978,000	1,990,000	1,985,000	1,993,000	1,982,000	1,996,000	1,997,000	2,002,000	2,017,000	2,013,000	2,022,000	2,032,000	2,025,000	2,038,000	2,036,000	2,002,000	2,000,000	2,000,000	2,065,000	2,058,000	2,054,000	2,151,000	2,177,000	2,185,000	2,240,000	2,248,000	2,253,000	2,240,000	2,221,000	2,213,000	2,183,000	2,127,000	2,042,000	1,934,000	1,926,726	1,818,182	1,741,834	1,895,267	1,880,025	1,818,255	1,754,834	1,672,741	1,748,966	1,660,076	1,616,442	1,722,200	1,718,200	1,220,800	1,218,900	1,216,900	1,179,612	1,188,600	1,197,378	1,118,894	1,022,562	1,175,700	1,045,622	1,050,841	1,005,820	1,141,500	959,598	916,850	930,042	1,120,600	886,538	839,310	854,012	1,118,100	825,547	828,792	760,234	1,116,100	703,258	735,655	697,391	1,114,100	1,113,674	1,167,768	1,103,712	1,136,135	1,123,211	1,147,730	1,188,117
Common Stock Shares Outstanding	933,800	933,900	933,800	933,500	933,200	932,900	932,600	932,700	721,300	669,800	669,900	669,500	674,000	679,000	680,500	686,000	688,500	693,500	701,000	702,500	711,500	715,500	716,000	724,000	727,000	729,000	734,500	735,500	736,500	741,500	763,000	769,000	770,000	793,500	825,000	831,500	854,500	867,500	879,500	885,000	885,000	882,500	881,500	879,000	873,500	867,000	862,000	860,000	847,000	852,500	853,500	853,500	844,000	846,500	846,000	845,500	840,500	843,500	842,000	806,000	770,982	775,500	775,500	774,000	766,000	775,177	782,622	787,000	783,500	791,500	801,500	801,000	790,500	800,000	803,000	801,000	793,500	795,000	794,500	796,500	793,000	797,000	796,500	795,500	158,500	795,000	797,500	797,500	158,300	791,500	0	0	0	0	0	-
Common Stock Total Equity	0	0	0	0	0	0	0	0	0	2,008,000	2,003,000	1,983,000	1,983,000	1,978,000	1,990,000	1,985,000	1,993,000	1,982,000	1,996,000	1,997,000	2,002,000	2,017,000	2,013,000	2,022,000	2,032,000	2,025,000	2,038,000	2,036,000	2,002,000	2,000,000	2,000,000	2,065,000	2,058,000	2,054,000	2,151,000	2,177,000	2,185,000	2,240,000	2,248,000	2,253,000	2,240,000	2,221,000	2,213,000	2,183,000	2,127,000	2,042,000	1,934,000	0	0	0	0	0	0	0	0	0	0	0	1,722,200	1,718,200	1,220,800	1,218,900	1,216,900	0	1,188,600	0	0	0	1,175,700	0	0	0	1,141,500	0	0	0	1,120,600	0	0	0	1,118,100	0	0	0	1,116,100	0	0	0	1,114,100	1,113,674	0	0	0	0	0	0
Current Deferred Revenue	1,725,000	-2,349,000	-2,176,000	-1,582,000	0	12,226,000	11,646,000	34,000	34,000	0	0	38,000	38,000	0	0	0	142,000	0	0	0	104,000	0	0	0	781,000	0	0	0	901,000	0	0	0	218,000	0	0	0	95,000	0	0	0	46,000	0	0	0	36,000	0	0	0	698,000	0	0	0	667,600	0	36,100	40,300	31,900	34,000	40,200	47,000	42,200	65,200	38,100	0	68,800	0	0	0	16,000	0	0	0	30,200	0	0	0	16,200	0	0	0	13,500	0	0	0	92,600	0	0	0	0	0	0	0	0	0	0	-
Deferred Long Term Asset Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Deferred Long Term Liab	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	2,035,933	3,986	2,361,500	0	0	5,209	0	0	0	4,335	0	0	0	7,745	0	0	0	6,589	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Earning Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Good Will	17,729,000	18,147,000	17,674,000	0	344,000	0	0	328,000	328,000	0	0	329,000	329,000	0	0	0	194,000	0	0	0	194,000	0	0	0	178,000	0	0	0	191,000	0	0	0	198,000	0	0	0	164,000	0	0	0	150,000	0	0	0	146,000	0	0	0	147,102	0	0	0	147,041	0	0	0	154,900	0	0	0	147,600	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	648,837	0	0	0
Intangible Assets	4,736,000	3,061,000	3,019,000	385,000	42,000	390,000	374,000	43,000	43,000	372,000	366,000	37,000	37,000	284,000	291,000	223,000	12,000	195,000	193,000	11,364	8,000	149,860	148,642	148,687	9,000	149,492	150,405	150,229	11,000	150,811	150,870	150,700	13,000	153,211	151,285	151,324	12,000	151,799	151,813	152,036	12,000	161,009	161,951	161,290	15,000	188,334	188,809	189,746	188,291	189,315	190,264	190,373	190,371	191,235	191,621	192,141	47,400	193,135	193,326	194,290	194,938	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	720,156	0	0	0
Inventory	400,000	398,000	381,000	285,000	284,000	267,000	271,000	251,000	235,000	227,000	218,000	213,000	208,000	185,000	192,000	177,000	182,000	188,000	195,000	182,000	173,000	156,000	160,000	154,000	152,000	157,000	192,000	201,000	184,000	192,000	195,000	181,000	188,000	174,000	174,000	171,000	177,000	168,000	174,000	190,000	165,000	158,000	174,000	190,000	136,000	142,000	151,000	171,000	138,000	149,700	137,300	122,400	114,100	124,500	136,800	122,700	132,700	169,000	203,800	191,800	215,800	231,800	199,500	176,245	179,500	187,593	171,569	162,272	158,600	184,263	181,454	153,058	140,100	161,883	163,546	160,188	134,100	125,659	137,671	135,569	106,400	108,306	122,315	121,555	108,900	122,215	125,655	121,855	102,300	116,023	254,690	245,431	278,102	276,365	309,106	313,091
Liabilities And Stockholders Equity	79,902,000	80,997,000	79,172,000	73,502,000	73,495,000	73,435,000	69,874,000	67,592,000	68,177,000	26,445,000	24,704,000	24,121,000	23,640,000	23,787,000	23,562,000	23,488,000	22,367,000	22,539,000	21,933,000	21,910,000	21,254,000	21,109,000	20,685,000	20,318,000	20,135,000	19,479,000	19,537,000	19,397,000	19,221,000	19,421,000	19,068,000	19,349,000	19,637,000	18,431,000	17,390,000	17,249,000	16,640,000	17,225,000	17,012,000	17,315,000	17,060,000	15,734,000	15,519,000	15,027,000	14,727,000	14,491,000	14,406,000	14,236,000	14,110,000	14,007,500	13,555,800	13,523,300	13,675,900	13,530,800	13,739,000	14,174,300	15,531,400	15,321,000	15,384,800	16,037,300	15,469,800	14,049,700	13,678,200	13,340,735	13,365,000	11,801,031	11,700,258	11,380,265	11,415,900	11,089,492	10,913,835	10,938,786	10,891,100	10,627,007	10,508,800	10,603,386	10,499,800	10,528,823	10,445,050	10,261,020	9,957,100	9,917,391	9,472,899	9,878,485	9,660,800	9,515,492	9,501,879	9,729,269	9,853,000	9,637,465	0	0	0	0	0	-
Long Term Debt	19,351,000	21,762,000	21,353,000	18,066,000	18,141,000	19,339,000	18,372,000	17,917,000	18,577,000	8,036,000	7,850,000	7,958,000	8,585,000	8,945,000	9,457,000	9,804,000	8,014,000	8,308,000	8,266,000	8,427,000	915,767	6,092,726	6,018,504	5,886,316	5,909,127	5,902,950	5,908,214	6,447,082	6,443,667	6,465,077	6,485,880	6,481,624	6,449,678	6,494,931	5,291,763	5,011,034	4,869,633	4,243,236	4,341,674	4,320,362	4,412,125	4,452,958	4,469,849	4,514,162	4,672,445	4,684,923	4,666,142	4,724,465	4,604,295	3,849,633	4,067,677	4,061,946	4,045,336	4,264,892	3,907,947	3,962,281	3,899,905	3,461,747	3,420,881	3,794,607	3,850,920	3,889,526	3,933,797	4,159,049	4,159,928	2,921,230	2,883,945	2,375,346	2,413,157	2,445,102	2,445,847	2,420,697	2,547,856	2,556,692	2,532,028	2,546,018	2,556,359	2,533,001	2,509,302	2,714,515	2,582,035	2,548,122	2,298,315	2,128,942	1,858,015	1,850,085	1,850,350	2,074,025	2,329,774	2,307,066	2,843,725	2,594,954	2,702,326	2,529,610	2,228,317	2,343,317
Long Term Debt Total	0	0	0	0	0	0	0	0	18,577,000	8,036,000	7,850,000	7,958,000	8,585,000	8,945,000	9,457,000	9,804,000	8,158,000	8,308,000	8,266,000	15,674	1,272,857	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Long Term Investments	533,000	549,000	532,000	45,183,000	45,314,000	46,194,000	43,420,000	41,827,000	42,518,000	205,000	197,000	199,000	199,000	223,000	223,000	369,000	341,000	215,000	210,000	201,000	23,133	156,884	146,367	144,041	145,078	147,894	0	0	144,367	0	0	0	109,819	0	0	0	96,377	0	0	0	86,605	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Negative Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Net Debt	22,374,000	23,252,000	22,937,000	18,872,000	19,200,000	20,437,000	19,916,000	19,578,000	20,058,000	9,758,000	7,830,000	9,380,000	9,624,000	9,603,000	9,271,000	9,823,000	8,624,000	8,838,000	8,494,000	8,571,000	8,635,000	8,136,000	8,432,000	8,232,000	7,821,000	7,991,000	8,184,000	8,413,000	8,520,000	8,776,000	8,489,000	7,882,000	8,307,000	8,016,000	6,516,000	6,265,000	5,567,000	4,569,000	4,356,000	4,590,000	4,400,000	4,439,000	4,422,000	4,397,000	4,357,000	4,449,000	4,715,000	4,655,000	4,725,000	4,249,600	3,929,800	3,910,200	3,954,300	4,162,600	3,827,000	3,911,400	3,815,700	3,533,100	4,085,700	4,415,800	4,762,300	4,570,900	4,429,300	4,283,034	4,028,800	2,587,997	2,687,756	2,832,661	2,880,500	2,861,261	2,845,231	2,950,672	2,879,000	2,915,688	2,994,232	3,094,087	2,998,516	3,159,251	3,325,691	3,322,679	3,227,672	3,094,614	3,080,616	2,997,820	3,036,917	3,228,858	3,115,605	3,269,756	3,188,742	3,532,525	0	0	0	0	0	-
Net Invested Capital	63,986,000	64,856,000	63,341,000	58,682,000	58,537,000	58,389,000	55,484,000	53,648,000	53,956,000	19,436,000	17,687,000	17,606,000	17,090,000	17,365,000	17,013,000	17,025,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Net Receivables	1,887,000	1,852,000	1,656,000	1,029,000	1,016,000	1,053,000	962,000	818,000	819,000	811,000	755,000	840,000	825,000	840,000	776,000	885,000	805,000	770,000	795,000	744,000	815,000	759,000	686,000	699,000	687,000	628,000	604,000	631,000	591,000	605,000	577,000	629,000	645,000	722,000	686,000	776,000	702,000	739,000	687,000	723,000	580,000	594,000	547,000	585,000	546,000	533,000	497,000	526,000	518,000	530,500	508,900	520,200	459,000	533,300	441,200	705,800	569,100	498,600	488,500	569,300	713,100	747,000	681,300	583,692	542,800	608,676	567,261	608,271	615,700	553,886	515,248	530,310	524,000	542,607	481,759	528,389	434,700	476,720	430,395	436,665	395,700	446,513	403,761	447,270	443,000	515,342	459,467	523,666	464,100	559,490	0	0	0	0	0	0
Net Tangible Assets	0	20,102,000	0	39,135,000	38,500,000	37,424,000	35,040,000	33,619,000	33,458,000	9,096,000	8,599,000	7,495,000	6,953,000	7,295,000	7,174,000	6,732,000	6,551,000	7,020,000	6,964,000	2,807,095	733,206	5,413,675	4,836,948	4,833,888	4,982,065	4,299,305	3,962,977	3,634,042	3,292,157	2,591,210	2,678,530	0	3,312,622	0	0	0	4,676,018	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Working Capital	-2,708,000	-1,320,000	-1,421,000	-898,000	-1,324,000	-1,167,000	-1,598,000	-1,784,000	-1,807,000	-2,225,000	-830,000	-1,576,000	-1,332,000	-897,000	-313,000	-387,000	-1,082,000	-904,000	-559,000	-432,000	-838,000	-539,000	-760,000	-822,000	-710,000	-896,000	-826,000	-69,000	-338,000	-673,000	-522,000	284,000	90,000	89,000	-208,000	-97,000	-134,000	193,000	564,000	771,000	651,000	458,000	393,000	238,000	99,000	17,000	-179,000	-82,000	-354,000	-384,300	-162,500	-154,800	-85,700	4,100	131,900	149,000	44,400	13,300	-174,900	241,600	-186,300	-501,800	-508,000	-277,683	-177,100	123,795	170,268	-253,812	-234,100	-297,855	-324,423	-346,080	-222,800	-267,106	-207,353	-267,345	-296,200	-312,991	-280,968	-86,070	-230,400	5,696	-319,367	-238,904	-588,500	-609,277	-631,995	-286,060	24,900	-13,214	0	0	0	0	0	-
Non Current Assets Total	76,900,000	77,928,000	76,254,000	71,722,000	71,606,000	71,791,000	68,263,000	66,185,000	66,825,000	24,994,000	22,717,000	22,497,000	22,319,000	22,463,000	22,207,000	22,081,000	21,157,000	21,353,000	20,818,000	20,534,000	20,137,000	19,979,000	19,685,000	19,201,000	18,861,000	18,487,000	18,418,000	18,287,000	18,212,000	18,457,000	18,145,000	17,899,000	18,100,000	16,726,000	16,177,000	15,975,000	15,363,000	15,687,000	15,099,000	15,305,000	15,031,000	14,025,000	13,868,000	13,546,000	13,398,000	13,373,000	13,432,000	13,208,000	13,254,000	13,056,900	12,448,200	12,369,100	12,472,100	12,446,600	12,587,600	12,430,800	14,104,000	13,912,700	14,201,100	14,542,600	14,346,800	12,913,900	12,649,800	12,439,264	12,197,300	10,548,981	10,439,913	10,474,361	10,411,000	10,190,239	10,068,082	10,086,174	9,997,200	9,767,029	9,665,521	9,568,821	9,507,800	9,519,333	9,480,253	9,340,096	9,232,900	8,913,862	8,823,501	8,736,731	8,751,500	8,657,987	8,502,955	8,489,592	8,637,500	8,493,058	0	0	0	0	0	-
Non Current Liabilities Other	110,000	799,000	834,000	484,000	520,000	519,000	509,000	521,000	542,000	522,000	525,000	537,000	585,000	576,000	544,000	541,000	70,000	579,000	598,000	598,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Non Current Liabilities Total	31,781,000	34,353,000	33,829,000	31,304,000	31,396,000	32,810,000	31,251,000	30,416,000	31,189,000	13,301,000	12,922,000	13,055,000	13,668,000	13,987,000	14,429,000	14,739,000	13,006,000	13,234,000	13,102,000	13,288,000	12,663,000	12,312,000	12,351,000	11,945,000	11,714,000	12,026,000	12,259,000	13,180,000	13,248,000	13,115,000	12,932,000	12,893,000	13,394,000	12,823,000	10,718,000	10,460,000	9,619,000	8,788,000	8,527,000	8,813,000	8,585,000	8,455,000	8,536,000	8,335,000	8,400,000	8,159,000	8,315,000	8,300,000	8,251,000	7,473,300	7,281,100	7,313,600	7,561,700	7,378,900	7,837,500	7,787,300	7,442,400	7,180,800	7,419,700	8,279,700	8,167,100	6,606,800	6,475,800	6,644,734	6,562,300	5,511,881	5,626,758	5,279,049	5,320,400	5,125,214	5,044,808	5,284,913	5,388,700	5,256,995	5,336,972	5,254,368	5,229,200	5,311,220	5,455,560	5,584,059	5,327,300	5,370,139	5,006,278	5,024,902	4,776,600	4,770,087	4,620,766	5,112,802	5,524,900	5,442,640	0	0	0	0	0	-
Non Currrent Assets Other	-7,479,000	-7,311,000	-7,234,000	-8,618,000	3,521,000	-9,169,000	-8,679,000	-8,391,000	419,000	-508,000	-2,209,000	-2,307,000	438,000	-1,902,000	-1,970,000	-2,015,000	-2,047,000	-1,601,000	-1,599,000	-1,726,000	71,000	-1,734,000	-1,768,000	-1,801,000	-1,845,000	-2,280,000	-2,314,000	-2,397,000	-2,444,000	-1,883,000	-1,877,000	-1,880,000	-1,927,000	73,000	281,000	340,000	333,000	160,000	150,000	429,000	422,000	189,000	187,000	175,000	132,000	134,000	138,000	142,000	143,000	156,700	135,200	136,300	134,000	138,000	171,200	172,600	132,800	4,900	1,325,000	1,431,600	39,600	1,510,500	1,468,000	3,102,983	1,235,600	1,441,843	1,293,377	1,274,367	1,223,200	1,242,924	1,255,221	1,227,864	1,139,000	1,089,611	1,077,771	1,097,098	1,018,300	1,066,140	1,023,382	1,021,322	907,300	661,525	635,214	623,394	510,000	602,881	596,666	573,227	607,100	806,250	0	0	0	0	0	-
Noncontrolling Interest In Consolidated Entity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Assets	45,263,000	45,597,000	44,622,000	3,599,000	71,135,000	71,357,000	67,896,000	65,871,000	37	3,410,000	1,515,000	22,103,000	1,332,000	1,787,000	1,674,000	1,589,000	1,096,000	1,658,000	1,545,000	606,309	149,741	1,400,250	1,274,079	1,523,271	1,470,705	1,428,571	1,322,792	1,221,363	1,133,353	1,580,471	1,535,783	1,450,100	1,319,991	723,995	858,881	821,248	795,973	1,470,667	1,462,843	1,617,195	1,604,067	516,004	424,883	416,994	388,027	413,316	460,222	469,318	492,302	496,619	484,742	480,829	476,730	475,561	510,145	520,189	2,030,608	1,598,391	1,463,106	1,449,643	1,454,553	3,085,956	3,119,773	3,031,868	2,913,816	0	1,223,116	1,101,141	1,104,812	1,116,071	1,126,924	0	1,034,563	937,333	881,355	906,723	926,268	0	763,991	778,270	780,956	489,429	468,854	424,086	382,908	380,175	0	358,238	440,955	512,243	1,708,851	1,720,293	1,741,135	1,501,192	1,426,641	1,414,326
Other Current Assets	251,000	252,000	292,000	176,000	138,000	186,000	224,000	240,000	216,000	190,000	122,000	211,000	141,000	116,000	110,000	98,000	90,000	83,000	80,000	98,000	68,000	65,000	103,000	139,000	97,000	65,000	85,000	77,000	70,000	64,000	59,000	69,000	54,000	69,000	99,000	67,000	116,000	68,000	61,000	64,000	53,000	73,000	84,000	67,000	60,000	61,000	69,000	67,000	52,000	59,800	69,300	60,200	47,800	54,800	62,200	57,600	46,500	58,000	88,000	86,200	76,500	59,100	66,700	70,418	67,300	-1	129,028	109,749	106,300	-1	104,884	1	108,000	68,950	1	-1	516	82,467	89,837	87,373	-428	89,023	1	-1	-1,083	92,136	92,034	91,416	-1,558	287,103	0	0	0	0	0	0
Other Current Liab	60,000	2,605,000	2,430,000	1,582,000	1,200,000	-12,226,000	-11,646,000	1,445,000	1,143,000	1,744,000	1,945,000	1,418,000	1,028,000	1,380,000	1,577,000	1,528,000	1,098,000	1,415,000	1,401,000	1,312,000	871,000	1,189,000	1,213,000	1,183,000	55,000	1,139,000	1,183,000	1,148,000	69,000	1,246,000	1,247,000	1,143,000	860,000	1,587,000	1,331,000	1,280,000	775,000	1,213,000	1,257,000	1,144,000	785,000	1,074,000	1,086,000	1,089,000	819,000	1,047,000	1,101,000	1,059,000	48,000	1,030,800	991,300	1,029,200	114,200	1,038,700	45,500	41,700	41,700	41,600	41,600	41,600	38,100	38,100	50,700	1,081,607	34,500	1,097,356	1,059,446	1,050,468	29,100	1,012,546	71,386	72,133	23,700	52,363	33,329	44,024	21,000	42,187	33,563	37,074	20,200	40,165	36,313	69,488	20,200	39,872	47,775	51,463	123,600	110,116	34,280	32,758	34,587	34,247	35,126	36,436
Other Liab	0	12,327,000	12,198,000	12,992,000	13,053,000	13,471,000	12,879,000	12,499,000	12,329,000	5,265,000	5,072,000	4,843,000	4,772,000	4,691,000	4,629,000	4,635,000	4,563,000	4,629,000	4,533,000	1,928,817	509,735	3,517,015	3,348,248	738,790	781,188	757,055	733,513	718,846	757,553	789,093	802,321	800,400	777,400	830,642	897,302	943,411	1,021,427	942,941	959,610	914,932	936,647	1,323,957	1,372,773	1,462,431	1,685,144	1,506,668	1,527,190	1,680,460	1,703,442	1,318,732	1,492,526	1,535,972	1,588,465	1,027,791	1,633,477	1,866,260	751,141	763,094	704,506	677,240	711,045	653,922	702,380	672,839	716,966	720,222	678,058	603,043	622,438	645,693	648,049	616,537	637,650	611,966	614,933	616,720	638,238	555,344	548,987	543,331	517,502	483,664	495,434	437,504	416,100	420,568	448,424	447,969	452,513	493,163	868,230	896,478	908,707	1,173,357	1,192,110	1,212,684
Other Stockholder Equity	88,000	90,000	88,000	84,000	78,000	77,000	73,000	68,000	66,000	68,000	63,000	58,000	55,000	56,000	53,000	51,000	48,000	45,000	45,000	46,000	42,000	47,000	45,000	45,000	43,000	42,000	42,000	42,000	52,000	43,000	49,000	48,000	43,000	42,000	40,000	38,000	36,000	35,000	34,000	36,000	34,000	35,000	33,000	35,000	41,000	57,000	81,000	1,981,000	1,940,000	1,917,700	1,911,000	1,904,200	1,837,500	1,831,400	1,810,200	1,805,400	1,779,900	1,763,200	35,100	35,100	40,200	41,300	39,800	6,378,421	42,400	6,292,250	6,300,724	6,311,309	32,300	1,213,378	1,280,643	1,372,631	241,600	1,354,120	1,409,456	1,428,178	300,400	1,423,831	1,422,626	1,417,307	294,600	1,406,679	1,415,679	1,408,995	291,100	1,406,123	1,411,623	1,407,390	4,493,165	406,029	0	0	0	0	0	0
Preferred Stock Redeemable	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Preferred Stock Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	145,310	139,126	147,463	145,734	148,608	151,818
Property Plant And Equipment Gross	60,353,000	0	0	0	31,947,000	0	0	0	0	0	20,639,000	20,738,000	20,738,000	20,169,000	20,019,000	19,900,000	19,514,000	18,909,000	18,489,000	18,312,000	18,418,000	17,792,000	17,616,000	17,234,000	17,016,000	16,700,000	16,703,000	16,661,000	16,689,000	16,382,000	16,160,000	16,013,000	16,273,000	15,762,000	15,104,000	14,933,000	14,438,000	14,040,000	13,538,000	13,518,000	13,327,000	13,493,000	13,422,000	13,122,000	13,013,000	12,967,000	12,964,000	12,743,000	12,752,000	12,535,400	11,981,200	11,902,600	11,996,800	11,957,200	12,044,500	11,902,600	11,967,800	12,203,700	12,499,800	12,714,600	12,576,900	9,628,900	9,464,200	9,336,280	9,293,100	9,107,138	9,146,535	9,199,994	9,122,900	8,947,314	8,812,861	8,858,310	8,790,900	8,677,419	8,587,750	8,471,723	8,393,500	8,453,193	8,456,870	8,318,774	8,220,000	8,252,337	8,188,287	8,113,337	8,149,300	8,055,106	7,906,289	7,916,365	7,935,500	7,686,808	0	0	0	0	0	-
Property Plant And Equipment Net	50,329,000	52,258,000	51,183,000	22,555,000	22,385,000	22,150,000	21,502,000	21,120,000	21,200,000	21,007,000	20,639,000	20,503,000	20,422,000	20,169,000	20,019,000	19,900,000	19,156,000	18,909,000	18,489,000	18,312,000	18,418,000	17,792,000	17,616,000	17,234,000	17,016,000	16,700,000	16,703,000	16,661,000	16,689,000	16,382,000	16,160,000	16,013,000	16,273,000	15,762,000	15,104,000	14,933,000	14,438,000	14,040,000	13,538,000	13,518,000	13,327,000	13,493,000	13,422,000	13,122,000	13,013,000	12,967,000	12,964,000	12,743,000	12,752,000	12,535,400	11,981,200	11,902,600	11,996,800	11,957,200	12,044,500	11,902,600	11,967,800	12,203,700	12,499,800	12,714,600	12,576,900	9,628,900	9,464,200	9,336,280	9,293,100	9,107,138	9,146,535	9,199,994	9,122,900	8,947,314	8,812,861	8,858,310	8,790,900	8,677,419	8,587,750	8,471,723	8,393,500	8,453,193	8,456,870	8,318,774	8,220,000	8,252,337	8,188,287	8,113,337	8,149,300	8,055,106	7,906,289	7,916,365	7,935,500	7,686,808	0	0	0	0	0	-
Property Plant Equipment	0	52,258,000	0	22,555,000	22,652,000	22,150,000	21,502,000	21,120,000	21,200,000	21,007,000	20,639,000	20,503,000	20,422,000	20,169,000	20,019,000	19,900,000	19,202,000	19,285,000	18,870,000	7,936,747	2,098,880	13,886,981	13,359,624	13,346,240	13,563,970	13,350,388	12,883,147	12,514,835	12,419,259	12,477,721	12,502,901	12,312,010	11,757,098	11,837,777	12,089,970	11,769,388	12,424,060	12,536,834	12,686,721	12,233,484	12,545,420	13,087,294	12,786,510	12,905,193	13,115,299	13,200,652	12,748,550	12,861,324	12,505,639	11,937,339	12,436,371	12,268,192	12,032,899	11,619,085	11,313,639	11,722,080	11,376,236	11,413,861	10,749,742	10,082,950	10,336,045	9,045,467	9,268,632	9,122,308	9,323,869	9,185,577	8,649,659	7,949,429	7,824,771	8,034,149	7,912,102	7,589,232	7,539,365	7,464,712	7,022,685	7,001,654	6,977,140	6,667,934	6,313,353	6,339,085	6,337,702	6,105,485	6,043,804	5,519,379	5,181,726	5,079,526	5,195,621	4,947,312	4,984,611	4,883,737	12,407,728	11,628,850	11,909,779	11,058,227	11,047,690	11,109,033
Retained Earnings	16,420,000	15,575,000	14,972,000	13,824,000	13,201,000	12,106,000	11,392,000	10,804,000	10,391,000	10,035,000	9,690,000	8,571,000	8,095,000	7,961,000	7,872,000	7,399,000	7,550,000	7,180,000	7,125,000	6,798,000	6,635,000	6,718,000	6,189,000	6,072,000	6,103,000	5,213,000	4,993,000	4,729,000	4,371,000	4,059,000	4,113,000	4,658,000	4,172,000	4,009,000	5,193,000	5,410,000	5,608,000	6,249,000	6,306,000	6,439,000	6,326,000	6,305,000	6,042,000	5,852,000	5,697,000	5,742,000	5,579,000	5,536,000	5,445,000	5,274,100	5,138,200	5,061,000	5,073,000	4,932,900	4,781,300	4,723,300	4,876,600	4,934,100	4,780,300	4,664,600	4,654,100	4,491,600	4,356,900	4,229,174	4,187,300	3,879,346	3,698,553	3,643,321	3,582,100	3,490,109	3,354,000	3,013,414	2,935,100	2,821,257	2,637,802	2,545,489	2,484,400	2,386,715	2,231,464	2,161,480	2,174,800	2,020,546	1,959,157	1,941,473	1,856,900	1,750,284	1,712,614	1,559,883	1,606,800	1,517,501	5,591,413	5,090,179	4,968,832	4,503,312	4,288,436	4,131,737
Retained Earnings Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt	3,143,000	1,784,000	1,909,000	1,096,000	1,510,000	1,236,000	1,698,000	1,746,000	1,550,000	1,932,000	872,000	1,782,000	1,186,000	841,000	91,000	266,000	599,000	675,000	273,000	496,000	57,093	374,649	414,834	613,335	638,501	6,548,885	6,541,458	6,520,694	69,951	226,978	117,602	0	65,024	0	0	0	115,308	0	0	0	4,555,210	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt Total	22,838,000	23,546,000	23,262,000	19,162,000	19,651,000	20,575,000	20,070,000	19,663,000	20,127,000	9,968,000	8,722,000	9,740,000	9,771,000	9,786,000	9,548,000	10,070,000	8,757,000	8,983,000	8,539,000	8,923,000	8,696,000	8,286,000	8,483,000	8,357,000	8,159,000	8,133,000	8,422,000	8,614,000	8,684,000	8,879,000	8,581,000	8,453,000	8,957,000	8,677,000	6,701,000	6,449,000	5,793,000	4,884,000	4,725,000	4,869,000	4,876,000	4,768,000	4,864,000	4,744,000	4,690,000	4,656,000	4,797,000	4,732,000	4,772,000	4,346,600	4,197,600	4,220,700	4,314,900	4,430,400	4,200,600	4,635,200	4,494,800	4,149,000	4,420,000	4,982,300	4,879,900	4,668,800	4,510,200	4,354,151	4,406,900	2,927,184	3,080,243	2,858,272	3,004,800	2,907,576	2,889,398	2,998,128	3,000,800	3,002,226	3,125,648	3,368,738	3,351,000	3,483,895	3,632,585	3,583,997	3,362,800	3,454,302	3,130,709	3,504,165	3,322,900	3,356,669	3,437,372	3,772,496	3,747,200	3,638,036	0	0	0	0	0	-
Short Term Debt	3,245,000	1,784,000	1,909,000	1,096,000	1,510,000	1,236,000	1,698,000	1,746,000	1,550,000	1,932,000	872,000	1,782,000	1,186,000	841,000	91,000	266,000	599,000	675,000	273,000	496,000	506,000	480,000	547,000	756,000	746,000	749,000	762,000	31,000	25,000	391,000	198,000	23,000	30,000	29,000	90,000	91,000	134,000	132,000	92,000	95,000	189,000	177,000	172,000	154,000	54,000	54,000	52,000	51,000	77,000	304,100	278,800	279,800	281,700	41,400	40,200	611,900	392,100	447,700	442,200	197,300	194,100	528,400	493,400	97,548	260,700	30,899	30,631	109,248	191,300	184,562	165,102	172,640	30,000	30,178	29,336	288,157	275,700	272,713	271,321	21,743	13,900	10,191	16,899	374,677	400,800	422,806	621,656	453,776	38,200	6,807	0	0	0	0	0	0
Short Term Investments	0	273,000	264,000	0	0	0	0	41,626,000	-12,299,000	0	0	199,000	199,000	223,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	75,007	376,722	370,136	386,896	253,152	94,313	0	0	0	0	0	0	0	0	0	0	0	0	0	0	567,621	273,048	443,140	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Temporary Equity Redeemable Noncontrolling Interests	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Assets	79,902,000	80,997,000	79,172,000	73,502,000	73,495,000	73,435,000	69,874,000	67,592,000	68,177,000	26,445,000	24,704,000	24,121,000	23,640,000	23,787,000	23,562,000	23,488,000	22,367,000	22,539,000	21,933,000	21,910,000	21,254,000	21,109,000	20,685,000	20,318,000	20,135,000	19,479,000	19,537,000	19,397,000	19,221,000	19,421,000	19,068,000	19,349,000	19,637,000	18,431,000	17,390,000	17,249,000	16,640,000	17,225,000	17,012,000	17,315,000	17,060,000	15,734,000	15,519,000	15,027,000	14,727,000	14,491,000	14,406,000	14,236,000	14,110,000	14,007,500	13,555,800	13,523,300	13,675,900	13,530,800	13,739,000	14,174,300	15,531,400	15,321,000	15,384,800	16,037,300	15,469,800	14,049,700	13,678,200	13,340,735	13,365,000	11,801,031	11,700,258	11,380,265	11,415,900	11,089,492	10,913,835	10,938,786	10,891,100	10,627,007	10,508,800	10,603,386	10,499,800	10,528,823	10,445,050	10,261,020	9,957,100	9,917,391	9,472,899	9,878,485	9,660,800	9,515,492	9,501,879	9,729,269	9,853,000	9,637,465	17,217,834	15,799,595	16,198,003	14,767,091	14,442,448	14,362,639
Total Current Assets	3,002,000	3,069,000	2,918,000	1,780,000	1,889,000	1,644,000	1,611,000	1,407,000	1,352,000	1,451,000	1,987,000	1,624,000	1,321,000	1,324,000	1,355,000	1,407,000	1,210,000	1,186,000	1,115,000	1,376,000	1,117,000	1,130,000	1,000,000	1,117,000	1,274,000	992,000	1,119,000	1,110,000	1,009,000	964,000	923,000	1,450,000	1,537,000	1,705,000	1,213,000	1,274,000	1,277,000	1,538,000	1,913,000	2,010,000	2,029,000	1,709,000	1,651,000	1,481,000	1,329,000	1,118,000	974,000	1,028,000	856,000	950,600	1,107,600	1,154,200	1,203,800	1,084,200	1,151,400	1,743,500	1,427,400	1,408,300	1,183,700	1,494,700	1,123,000	1,135,800	1,028,400	901,471	1,167,700	1,252,050	1,260,345	905,904	1,004,900	899,253	845,753	852,612	893,900	859,978	843,278	1,034,565	992,000	1,009,490	964,797	920,924	724,200	1,003,529	649,398	1,141,754	909,300	857,504	998,924	1,239,677	1,215,500	1,144,407	0	0	0	0	0	0
Total Current Liabilities	5,710,000	4,389,000	4,339,000	2,678,000	3,213,000	2,811,000	3,209,000	3,191,000	3,159,000	3,676,000	2,817,000	3,200,000	2,653,000	2,221,000	1,668,000	1,794,000	2,292,000	2,090,000	1,674,000	1,808,000	1,955,000	1,669,000	1,760,000	1,939,000	1,984,000	1,888,000	1,945,000	1,179,000	1,347,000	1,637,000	1,445,000	1,166,000	1,447,000	1,616,000	1,421,000	1,371,000	1,411,000	1,345,000	1,349,000	1,239,000	1,378,000	1,251,000	1,258,000	1,243,000	1,230,000	1,101,000	1,153,000	1,110,000	1,210,000	1,334,900	1,270,100	1,309,000	1,289,500	1,080,100	1,019,500	1,594,500	1,383,000	1,395,000	1,358,600	1,253,100	1,309,300	1,637,600	1,536,400	1,179,154	1,344,800	1,128,255	1,090,077	1,159,716	1,239,000	1,197,108	1,170,176	1,198,692	1,116,700	1,127,084	1,050,631	1,301,910	1,288,200	1,322,481	1,245,765	1,006,994	954,600	997,833	968,766	1,380,659	1,497,800	1,466,781	1,630,919	1,525,737	1,190,600	1,157,622	3,437,318	3,017,011	3,370,400	2,591,282	2,819,170	2,685,046
Total Liab	37,491,000	38,742,000	38,168,000	33,982,000	34,609,000	35,621,000	34,460,000	33,607,000	34,348,000	16,977,000	15,739,000	16,255,000	16,321,000	16,208,000	16,097,000	16,533,000	15,298,000	15,324,000	14,776,000	15,096,000	14,618,000	13,981,000	14,111,000	13,884,000	13,698,000	13,914,000	14,204,000	14,359,000	14,595,000	14,752,000	14,377,000	14,059,000	14,841,000	14,439,000	12,139,000	11,831,000	11,030,000	10,133,000	9,876,000	10,052,000	9,963,000	9,706,000	9,794,000	9,578,000	9,630,000	9,260,000	9,468,000	9,410,000	9,461,000	8,808,200	8,551,200	8,622,600	8,851,200	8,459,000	8,857,000	9,381,800	8,825,400	8,575,800	8,778,300	9,532,800	9,476,400	8,244,400	8,012,200	7,823,888	7,907,100	6,640,136	6,716,834	6,438,765	6,559,400	6,322,322	6,214,984	6,483,605	6,505,400	6,384,079	6,387,603	6,556,278	6,517,400	6,633,701	6,701,325	6,591,053	6,281,900	6,367,972	5,975,043	6,405,561	6,274,400	6,236,869	6,251,685	6,638,539	6,715,500	6,600,261	9,551,915	8,780,307	9,275,555	8,354,465	8,201,500	8,143,123
Total Permanent Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Stockholder Equity	41,492,000	41,310,000	40,079,000	39,520,000	38,886,000	37,814,000	35,414,000	33,985,000	33,829,000	9,468,000	8,965,000	7,866,000	7,319,000	7,579,000	7,465,000	6,955,000	7,069,000	7,215,000	7,157,000	6,814,000	6,636,000	7,128,000	6,574,000	6,434,000	6,437,000	5,565,000	5,333,000	5,038,000	4,626,000	4,669,000	4,691,000	5,290,000	4,796,000	3,992,000	5,251,000	5,418,000	5,610,000	7,092,000	7,136,000	7,263,000	7,097,000	6,028,000	5,725,000	5,449,000	5,097,000	5,231,000	4,938,000	4,826,000	4,649,000	5,199,300	5,004,600	4,900,700	4,824,700	5,071,800	4,882,000	4,792,500	6,706,000	6,745,200	6,606,500	6,504,500	5,993,400	5,805,300	5,666,000	5,516,847	5,457,900	5,160,895	4,983,423	4,941,499	4,856,500	4,767,170	4,698,850	4,455,181	4,385,700	4,242,928	4,121,197	4,047,108	3,982,400	3,895,122	3,743,725	3,669,967	3,675,200	3,549,419	3,497,856	3,472,925	3,386,400	3,278,623	3,250,194	3,090,730	3,137,500	3,037,204	7,054,756	6,476,886	6,404,920	5,943,760	5,798,095	5,797,115
Treasury Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Warrants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-

Cash Flow

Currency in CAD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31
Begin Period Cash Flow	451,000	82,000	147,000	133,000	61,000	338,000	164,000	650,000	226,000	476,000	333,000	47,000	361,000	679,100	117,500	378,100	124,300	121,800	353,000	134,700	284,900	556,900	120,300	40,000	49,500	462,000	244,300
Capital Expenditures	2,499,000	1,557,000	1,532,000	1,671,000	1,647,000	1,551,000	1,340,000	1,182,000	1,522,000	1,449,000	1,236,000	1,148,000	1,104,000	726,100	724,100	892,300	893,200	793,700	884,400	673,800	686,600	575,700	593,400	586,100	266,800	71,700	862,900
Cash And Cash Equivalents Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash Flows Other Operating	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change In Cash	13,000	369,000	-65,000	14,000	72,000	-277,000	174,000	-486,000	424,000	-250,000	143,000	286,000	-314,000	-318,500	561,600	-260,500	253,800	2,500	-231,200	218,300	-150,200	-272,000	436,600	80,300	-9,500	-412,500	217,700
Change In Working Capital	-308,000	-174,000	18,000	-76,000	19,000	-118,000	-82,000	58,000	95,000	-105,000	-48,000	-33,000	24,000	-16,300	102,700	-132,200	50,300	-101,600	-23,300	33,200	-53,600	10,841	4,200	-1,000	-41,900	51,900	0
Change Receivables	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Account Receivables	-317,000	-147,000	32,000	-61,000	27,000	-107,000	-91,000	44,000	80,000	-112,000	-29,000	-40,000	-69,000	-8,800	206,400	-69,100	70,159	-100,890	-62,078	-38,943	47,450	21,180	31,287	0	0	0	0
Change To Inventory	1,000	-27,000	-14,000	-15,000	-8,000	-11,000	9,000	14,000	15,000	7,000	-19,000	7,000	-15,000	22,500	75,500	-23,400	-28,521	-15,783	-14,666	-35,448	2,508	-6,626	28,780	39,011	0	0	0
Change To Liabilities	0	95,000	-108,000	-308,000	-21,000	153,000	-30,000	-95,000	12,845	48,189	38,596	13,102	113,759	0	0	0	0	0	33,533	93,350	0	0	3,329	391,715	0	0	0
Change To Netincome	0	-136,000	91,000	-32,000	-130,000	-130,000	-746,000	-95,000	24,354	188,452	0	0	0	0	0	0	54,078	13,380	12,007	0	0	0	0	32,040	0	0	0
Change To Operating Activities	0	-13,000	-66,000	-5,000	-24,000	30,000	-26,000	-18,000	5,652	-64,538	4,707	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	1,543,000	853,000	811,000	779,000	662,000	647,000	606,000	577,000	526,000	482,000	481,000	461,000	490,000	489,600	497,200	491,300	472,000	464,100	464,600	431,800	401,800	367,700	377,400	333,000	315,800	304,900	249,900
Dividends Paid	-707,000	707,000	507,000	467,000	412,000	348,000	310,000	255,000	226,000	244,000	244,000	223,000	193,000	174,500	162,900	148,700	133,100	112,400	89,500	81,700	80,800	80,800	150,000	180,500	150,000	0	722,300
End Period Cash Flow	464,000	451,000	82,000	147,000	133,000	61,000	338,000	164,000	650,000	226,000	476,000	333,000	47,000	360,600	679,100	117,600	378,100	124,300	121,800	353,000	134,700	284,900	556,900	120,300	40,000	49,500	462,000
Exchange Rate Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Free Cash Flow	1,638,000	2,585,000	2,156,000	1,131,000	1,343,000	1,161,000	842,000	907,000	937,000	674,000	714,000	180,000	-592,000	-224,000	-252,600	186,800	421,400	257,300	166,300	112,200	-360,700	208,500	165,100	90,500	406,100	608,200	-114,900
Investments	-2,279,000	-1,496,000	-10,526,000	-2,030,000	-1,803,000	-1,458,000	-1,295,000	-1,069,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Issuance Of Capital Stock	64,000	32,000	25,000	52,000	26,000	24,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Borrowings	0	-1,622,000	10,493,000	1,149,000	421,000	-115,000	-32,000	-46,000	206,858	505,981	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	3,923,000	3,517,000	2,852,000	2,444,000	2,440,000	1,951,000	2,405,000	1,599,000	1,352,000	1,476,000	875,000	484,000	570,000	650,700	555,400	619,000	946,200	796,300	587,100	394,000	627,200	496,000	410,400	532,300	66,900	362,400	468,900
Other Cashflows From Financing Activities	-17,000	-725,000	-75,000	1,244,000	909,000	638,000	-22,000	-3,000	3,411,000	785,000	-3,000	1,000	-3,000	222,900	34,100	989,100	1,975,000	2,800	-869,200	193,700	699,800	-571,700	-758,300	122,000	563,300	-74,400	1,172,100
Other Cashflows From Investing Activities	0	3,000	5,000	-2,000	-8,000	15,000	3,000	-3,000	399,000	247,827	47,068	138,077	58,841	90,772	238,783	21,778	0	1,887	0	0	0	0	0	0	0	0	0
Other Non Cash Items	60,000	-303,000	-366,000	-736,000	-445,000	114,000	-829,000	-87,000	581,000	165,000	594,000	383,000	-759,000	-833,100	-37,500	19,100	-61,896	-96,411	-154,436	-94,697	-720,925	-178,500	-205,906	-299,300	316,100	-195,000	-174,600
Sale Purchase Of Stock	1,095,000	725,000	11,306,000	-1,509,000	-1,134,000	-1,103,000	-381,000	-1,210,000	-2,787,000	-2,050,000	0	71,000	785,000	364,200	872,700	-30,900	-231,100	-286,400	-80,600	0	0	0	2,395,600	0	0	0	0
Stock Based Compensation	6,804,000	113,000	131,000	170,000	133,000	75,000	35,000	51,000	66,000	110,000	92,000	64,000	0	0	-780,500	-78,700	-130,704	-86,689	-81,264	-109,803	39,425	-10,841	37,606	0	0	0	0
Total Cash From Financing Activities	-1,955,000	-2,297,000	9,936,000	-764,000	-1,111,000	-1,542,000	-700,000	-1,493,000	-957,000	-1,630,000	-220,000	-30,000	217,000	-167,800	489,400	-511,500	1,453,500	-354,800	-412,700	98,400	244,400	-484,500	267,700	-59,400	393,200	-100,100	432,900
Total Cash From Operating Activities	4,137,000	4,142,000	3,688,000	2,802,000	2,990,000	2,712,000	2,182,000	2,089,000	2,459,000	2,123,000	1,950,000	1,328,000	512,000	502,100	471,500	1,079,100	1,314,600	1,051,000	1,050,700	786,000	325,900	784,200	758,500	676,600	672,900	679,900	748,000
Total Cashflows From Investing Activities	0	-1,496,000	-13,730,000	-2,030,000	-1,803,000	-1,458,000	-1,295,000	-1,069,000	-1,123,000	-999,053	-1,503,342	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-06-30	2002-03-31	2001-12-31	2001-09-30	2001-06-30	2001-03-31	2000-12-31	2000-09-30	2000-06-30	2000-03-31
Begin Period Cash Flow	216,413	325,000	290,000	451,000	138,000	154,000	98,000	82,000	223,000	892,000	360,000	147,000	183,000	277,000	247,000	133,000	145,000	45,000	352,000	61,000	150,000	51,000	125,000	338,000	142,000	238,000	201,000	164,000	103,000	92,000	571,000	650,000	661,000	185,000	184,000	226,000	315,000	369,000	279,000	476,000	329,000	442,000	347,000	333,000	207,000	82,000	77,000	47,000	97,000	268,000	311,000	360,600	267,800	373,600	723,800	679,100	615,900	334,300	566,500	117,600	97,900	80,900	71,117	377,126	339,187	392,488	25,611	124,355	46,315	44,167	47,456	121,688	86,538	131,416	274,650	353,193	324,644	306,894	261,318	134,967	359,688	50,093	506,345	285,263	127,811	321,768	502,739	557,608	105,511	0	0	0	0	0	0	-
Capital Expenditures	531,922	752,000	636,000	405,000	539,000	422,000	370,000	226,000	421,000	372,000	416,000	323,000	330,000	484,000	502,000	355,000	500,000	464,000	459,000	224,000	467,000	430,000	413,000	241,000	445,000	319,000	346,000	230,000	280,000	294,000	330,000	278,000	455,000	449,000	355,000	263,000	513,000	414,000	298,000	224,000	434,000	298,000	301,000	203,000	336,000	287,000	292,000	233,000	400,500	352,000	219,000	133,200	282,200	185,100	165,800	93,000	126,300	191,200	266,900	138,000	285,500	242,100	237,628	127,072	324,623	205,618	158,668	204,291	205,577	220,230	176,370	191,523	300,023	232,437	208,462	143,479	154,893	188,297	190,233	140,378	151,864	182,174	170,029	182,533	188,369	243,007	84,047	60,277	220,006	237,232	957,926	395,624	1,734,232	1,051,736	603,958	260,299
Cash And Cash Equivalents Changes	0	0	-198,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Cash Flows Other Operating	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Change In Cash	133,675	-31,000	35,000	-161,000	313,000	-16,000	56,000	16,000	-141,000	-669,000	532,000	213,000	-36,000	-94,000	30,000	114,000	-12,000	100,000	-307,000	291,000	-89,000	99,000	-74,000	-213,000	196,000	-96,000	37,000	37,000	61,000	11,000	-479,000	-79,000	-11,000	476,000	1,000	-42,000	-89,000	-54,000	90,000	-197,000	147,000	-113,000	95,000	14,000	126,000	125,000	5,000	30,000	-50,000	-171,000	-43,000	-50,100	92,800	-105,800	-350,200	44,700	63,200	281,600	-232,200	448,900	19,700	17,000	9,783	-306,009	38,913	-53,301	366,877	-98,744	77,985	2,148	-3,289	-74,232	35,262	-44,878	-143,234	-78,542	28,356	17,750	45,576	126,351	-224,988	309,595	-456,252	221,082	157,089	-193,956	-180,972	-54,869	451,389	0	0	0	0	0	0	0
Change In Working Capital	-84,504	-67,000	11,000	-140,000	-174,000	-1,000	-87,000	-167,000	18,000	-227,000	564,000	-91,000	-76,000	-296,000	77,000	-229,000	19,000	-31,000	-60,000	-131,000	-118,000	-72,000	124,000	-118,000	-82,000	-57,000	70,000	-180,000	58,000	36,000	35,000	-288,000	95,000	159,000	34,000	44,000	-105,000	-82,000	162,000	-182,000	-48,000	-31,000	75,000	-147,000	-33,000	-25,000	57,000	-78,000	99,100	6,000	-61,000	-19,800	56,200	-500	10,000	-82,000	106,300	59,500	-51,300	-11,800	38,200	-200	-132,597	-37,603	58,800	509	27,608	-36,617	33,453	-28,873	-25,755	-80,425	55,543	-811	48,337	-126,369	15,019	26,321	7,090	-15,230	72,490	-7,095	-73,937	-45,058	122,515	-120,608	96,818	-98,725	73,272	0	0	0	0	0	0	-
Change Receivables	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Change To Account Receivables	0	0	0	0	-147,000	-147,000	0	0	32,000	32,000	32,000	32,000	-61,000	-61,000	-61,000	-61,000	27,000	1,630	1,766	1,550	-107,000	-83,515	-81,147	-82,862	-91,000	-72,748	0	0	44,000	0	0	0	80,000	0	0	0	-112,000	0	0	0	-29,000	0	0	0	-40,000	0	0	0	0	0	0	0	0	0	0	0	196,198	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	36,469	0	0	0	13,416	0	0	0	19,598	0	0	0	0	0	0	0
Change To Inventory	0	0	0	0	-27,000	-27,000	0	0	-14,000	-14,000	-14,000	-14,000	-15,000	-15,000	-15,000	-15,000	-8,000	-483	-523	-459	-11,000	-8,586	-8,342	-8,519	9,000	7,195	0	0	14,000	0	0	0	15,000	0	0	0	7,000	0	0	0	-19,000	0	0	0	7,000	0	0	0	0	0	0	0	22,568	0	0	0	71,768	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1,928	0	0	0	0	0	0	0	18,028	0	0	0	39,011	0	0	0
Change To Liabilities	0	0	0	0	95,000	0	0	0	-108,000	0	0	0	-308,000	0	0	0	-21,000	0	0	0	17,436	0	0	0	-23,914	0	0	0	-70,695	0	0	0	90,311	0	0	0	48,189	0	0	0	38,596	0	0	0	13,102	0	0	0	113,759	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	33,533	0	0	0	93,350	0	0	0	0	0	0	0	0	0	0	0	3,329	0	0	0	391,715	0	0	0
Change To Netincome	0	-137,000	-137,000	-4,000	67,000	-1,000	-182,000	-20,000	178,000	100,000	-56,000	-131,000	-73,000	-4,000	-72,000	117,000	-5,000	51,000	-126,000	-21,214	8,547	-39,806	-15,926	-2,323	-594,659	-70,349	-80,216	-79,621	-70,695	57,887	20,890	0	171,230	0	0	0	188,452	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	54,078	0	0	0	13,380	0	0	0	12,007	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	32,040	0	0	0
Change To Operating Activities	0	-67,000	-67,000	-140,000	242,000	-1,000	-87,000	-167,000	-312,000	-227,000	564,000	-91,000	443,000	-296,000	77,000	-229,000	198,000	-31,000	-60,000	-55,582	10,940	-56,197	94,039	-91,381	-20,725	-45,567	53,992	-135,206	-13,395	77,691	-6,190	0	39,737	0	0	0	-64,538	0	0	0	4,707	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	344,807	451,000	410,000	225,000	219,000	213,000	211,000	210,000	206,000	203,000	200,000	202,000	155,000	195,000	195,000	192,000	134,000	185,000	183,000	160,000	131,000	174,000	172,000	170,000	113,000	162,000	165,000	166,000	99,000	155,000	161,000	162,000	86,000	149,000	145,000	146,000	69,000	135,000	137,000	141,000	60,000	139,000	141,000	141,000	62,000	137,000	135,000	127,000	122,900	123,000	122,000	122,300	121,200	123,900	119,500	125,000	80,600	134,200	138,400	135,700	125,900	120,800	366,685	-122,085	836,886	-120,744	-122,387	-121,754	824,739	-120,163	-121,486	-118,990	811,050	-116,746	-115,141	-114,563	756,845	-108,793	-110,142	-106,110	699,741	-99,581	-99,534	-98,826	642,309	-186,388	5,499	-93,720	653,693	0	0	0	0	0	0	0
Dividends Paid	-133,546	177,000	176,000	177,000	176,000	177,000	176,000	177,000	127,000	127,000	126,000	127,000	128,000	113,000	112,000	114,000	114,000	116,000	91,000	91,000	93,000	92,000	81,000	82,000	81,000	83,000	73,000	73,000	73,000	75,000	53,000	54,000	54,000	57,000	57,000	58,000	60,000	61,000	62,000	61,000	61,000	62,000	60,000	61,000	61,000	60,000	51,000	51,000	50,800	50,000	46,000	45,700	45,600	45,500	41,700	41,700	41,600	41,600	41,700	38,000	38,100	38,100	38,089	34,411	34,504	34,733	34,750	29,114	29,552	29,509	29,661	23,678	23,747	23,844	20,898	21,011	20,728	20,273	20,459	20,239	20,253	19,910	20,412	20,226	20,242	40,284	47	20,226	158	95,402	62,285	29,786	128,427	95,654	65,523	33,676
End Period Cash Flow	350,088	294,000	325,000	290,000	451,000	138,000	154,000	98,000	82,000	223,000	892,000	360,000	147,000	183,000	277,000	247,000	133,000	145,000	45,000	352,000	61,000	150,000	51,000	125,000	338,000	142,000	238,000	201,000	164,000	103,000	92,000	571,000	650,000	661,000	185,000	184,000	226,000	315,000	369,000	279,000	476,000	329,000	442,000	347,000	333,000	207,000	82,000	77,000	47,000	97,000	268,000	310,500	360,600	267,800	373,600	723,800	679,100	615,900	334,300	566,500	117,600	97,900	80,900	71,117	378,100	339,187	392,488	25,611	124,300	46,315	44,167	47,456	121,800	86,538	131,416	274,650	353,000	324,644	306,894	261,318	134,700	359,688	50,093	506,345	284,900	127,811	321,768	502,739	556,900	105,511	0	0	0	0	0	-
Exchange Rate Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Free Cash Flow	476,090	275,000	256,000	476,000	1,181,000	680,000	337,000	387,000	183,000	176,000	1,538,000	259,000	655,000	9,000	333,000	134,000	533,000	359,000	262,000	189,000	464,000	243,000	298,000	156,000	288,000	208,000	265,000	81,000	488,000	297,000	182,000	-60,000	168,000	247,000	230,000	292,000	144,000	120,000	347,000	63,000	225,000	206,000	219,000	64,000	133,000	45,000	34,000	-32,000	-561,200	-27,000	-6,000	1,800	98,600	-435,200	19,100	93,500	-334,500	221,900	-77,500	19,200	167,800	40,700	-54,216	32,516	56,414	135,160	206,316	23,510	111,766	58,098	125,302	-37,866	39,792	41,891	149,853	-65,236	40,480	48,608	60,686	-37,574	-199,240	27,544	-62,743	-126,262	183,717	-5,126	57,745	-27,837	178,314	-8,395	306,275	225,827	505,262	358,439	159,551	-
Investments	-401,000	-742,000	-198,000	-401,000	-518,000	-410,000	-362,000	-206,000	-10,526,000	-2,129,000	-405,000	-286,000	-717,000	-483,000	-468,000	-362,000	-668,000	-461,000	-455,000	-219,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Issuance Of Capital Stock	19,000	13,000	19,000	18,000	13,000	9,000	1,000	8,000	5,000	4,000	8,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-
Net Borrowings	0	-159,000	-159,000	-486,000	-725,000	-553,000	-122,000	-222,000	10,275,000	1,028,000	-882,000	72,000	374,000	410,000	-171,000	536,000	-86,000	349,000	-234,000	166,321	-1,026	-45,270	-32,610	-3,872	-25,508	-2,398	-6,942	-3,756	-34,231	74,644	101,354	0	1,454,375	0	0	0	505,981	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	771,854	780,000	1,324,000	800,000	1,271,000	891,000	765,000	590,000	532,000	472,000	1,246,000	602,000	802,000	598,000	635,000	409,000	664,000	618,000	724,000	434,000	545,000	622,000	436,000	348,000	984,000	510,000	480,000	431,000	384,000	347,000	328,000	540,000	319,000	323,000	390,000	320,000	451,000	400,000	371,000	254,000	82,000	324,000	252,000	217,000	15,000	224,000	103,000	142,000	221,500	187,000	128,000	33,700	185,800	197,300	167,800	99,800	197,200	195,400	157,300	62,500	200,600	172,700	155,134	90,566	342,324	218,196	257,023	128,657	147,288	161,978	376,136	110,897	179,894	203,746	122,716	80,744	109,032	177,244	84,178	23,546	401,397	93,832	29,540	102,431	125,857	200,829	32,740	136,574	110,785	72,950	82,761	22,007	57,041	176,537	122,062	0
Other Cashflows From Financing Activities	116,000	-1,000	-16,000	-345,000	389,000	-42,000	20,000	320,000	-23,000	-3,000	-16,000	-33,000	384,000	459,000	-140,000	1,115,000	-87,000	353,000	246,000	397,000	-389,000	-1,000	691,000	-238,000	-434,000	-306,000	-22,000	23,000	-252,000	190,000	175,000	-2,000	-415,000	2,601,000	369,000	810,000	771,000	14,000	-45,000	-217,000	-3,000	-535,000	-390,000	-212,000	1,000	-211,000	-275,000	71,000	754,000	-338,000	-205,000	-127,600	1,400	2,900	220,000	-84,000	463,200	4,900	438,700	-137,100	-129,900	55,900	1,063,100	-270,202	1,489,919	-499	407,845	77,734	2,800	1	-1	-186,427	1	0	-21,178	8,604	-866	-82	563	194,084	4,604	314,772	9,152	371,474	-19,986	-187,065	207,049	2	1,464,733	0	16,777	12,711	42,697	23,582	14,591	0
Other Cashflows From Investing Activities	0	-2,000	-2,000	-2,000	-2,000	1,000	-3,000	5,000	6,000	-1,709,000	-1,000	37,000	-2,000	-1,000	10,000	-9,000	-2,000	12,000	9,000	-424	1,823	12,488	12,134	2,323	35,871	27,180	16,197	6,009	84,090	64,742	53,385	46,133	288,274	269,621	58,433	56,747	247,827	233,949	235,217	4,525	47,068	10,669	953	0	138,077	139,469	59,986	44,409	58,841	32,378	20,552	5,772	90,772	44,894	24,798	8,864	238,783	11,691	10,578	0	21,778	0	0	0	0	0	0	0	1,887	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	25,826	0	0	0	0	0
Other Non Cash Items	635,289	-153,000	7,061,000	-60,000	373,000	-60,000	-298,000	-63,000	-134,000	-127,000	508,000	-222,000	28,000	-300,000	5,000	-112,000	235,000	20,000	-186,000	-181,000	255,000	-123,000	103,000	-121,000	-364,000	-145,000	-34,000	-286,000	285,000	89,000	23,000	-484,000	218,000	224,000	50,000	89,000	137,000	-1,000	137,000	-108,000	517,000	41,000	127,000	-91,000	392,000	-29,000	6,000	-29,000	-65,300	-34,000	-15,000	2,400	-37,900	-500	-9,800	16,000	-663,400	43,900	-19,300	-21,100	-7,700	38,900	-230,728	218,628	-803,967	287,021	214,643	240,407	-804,591	235,827	238,674	233,679	-832,134	249,344	238,151	190,203	-726,105	211,866	254,616	164,927	-1,180,612	170,697	147,009	141,981	-409,113	288,146	-25,989	128,262	-502,418	0	0	0	0	0	0	-
Sale Purchase Of Stock	-116,000	0	550,000	345,000	-389,000	0	0	0	10,673,000	1,346,000	16,000	93,000	-564,000	-400,000	-44,000	-501,000	-170,000	-500,000	-257,000	-207,000	-544,000	1,000	-261,000	-298,000	-13,000	-226,000	-142,000	-23,000	-10,000	-412,000	-788,000	3,844	-192,000	-1,523,000	-543,000	-529,000	-1,063,000	-455,000	-447,000	-85,000	0	0	0	0	0	0	0	0	0	0	0	0	0	355,200	0	0	0	0	0	0	0	-30,900	0	0	-9	-2,765	-212,218	-16,107	-59,915	-83,316	-97,610	-45,558	-2,357	-65,670	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Stock Based Compensation	-689,613	13,000	39,000	32,000	46,000	21,000	2,000	44,000	56,000	26,000	25,000	24,000	60,000	56,000	43,000	11,000	45,000	15,000	39,000	34,000	15,000	28,000	18,000	14,000	19,000	11,000	17,000	-12,000	5,000	31,000	1,000	14,000	21,000	21,000	-5,000	29,000	8,000	42,000	39,000	22,000	40,000	9,000	10,000	33,000	26,000	12,000	-23,000	-7,000	-607,500	-16,000	-13,000	-11,500	4,700	-645,600	-146,600	-13,400	96,900	-137,500	-105,500	300	-6,500	-74,800	-11,968	14,568	76,588	-116,201	-69,681	-21,409	43,349	-42,826	-51,448	-35,763	62,922	-147,999	-4,291	8,105	17,764	-112,495	-34,712	19,639	-39,519	8,432	135,996	-65,484	-159,216	56,115	-60,410	3,705	16,683	0	0	0	0	0	0	-
Total Cash From Financing Activities	-568,139	-324,000	-233,000	-645,000	-888,000	-721,000	-297,000	-391,000	10,130,000	902,000	-1,016,000	-80,000	-298,000	-100,000	-322,000	-44,000	-374,000	-263,000	-572,000	98,000	-638,000	-146,000	-381,000	-377,000	-103,000	-310,000	-237,000	-50,000	-458,000	-304,000	-669,000	-62,000	-241,000	-75,000	-229,000	-412,000	-348,000	-509,000	-498,000	-275,000	-61,000	-75,000	-44,000	-40,000	-7,000	5,000	-47,000	19,000	489,700	-174,000	-50,000	-49,000	-39,400	318,400	-399,000	-47,800	368,100	-36,300	-269,500	426,400	-419,200	-19,400	122,495	-195,395	1,452,700	-40,641	172,299	-130,859	-76,111	-117,076	-120,152	-41,462	-8,292	-92,082	-296,516	-15,809	-21,031	-22,761	-20,431	162,623	-16,273	294,471	-381,440	347,643	-40,708	-231,220	-188,141	-24,430	247,579	12,784	0	28,711	329,580	36,566	8,646	126,147
Total Cash From Operating Activities	1,008,012	1,027,000	892,000	881,000	1,720,000	1,102,000	707,000	613,000	604,000	548,000	1,954,000	582,000	985,000	493,000	835,000	489,000	1,033,000	823,000	721,000	413,000	931,000	673,000	711,000	397,000	733,000	527,000	611,000	311,000	768,000	591,000	512,000	218,000	623,000	696,000	585,000	555,000	657,000	534,000	645,000	287,000	659,000	504,000	520,000	267,000	469,000	332,000	326,000	201,000	-160,700	325,000	213,000	135,000	380,800	-250,100	184,900	186,500	-208,200	413,100	189,400	157,200	453,300	282,800	183,412	159,588	381,037	340,778	364,984	227,801	317,343	278,328	301,672	153,658	339,815	274,328	358,314	78,242	195,373	236,905	250,919	102,803	-47,375	209,719	107,286	56,271	372,086	237,881	141,792	32,441	398,321	228,837	1,264,201	621,451	2,239,493	1,410,175	763,510	243,323
Total Cashflows From Investing Activities	0	-742,000	-198,000	-401,000	-518,000	-410,000	-362,000	-206,000	-10,910,000	-2,820,000	-405,000	-286,000	-717,000	-483,000	-468,000	-362,000	-668,000	-1,135,000	-674,000	-92,919	-44,330	-330,159	-309,419	-184,310	-1,032,284	-244,624	-428,076	-166,754	-795,505	-622,287	-417,021	-167,615	-811,358	0	0	0	-999,053	0	0	0	-1,503,342	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

Income Statement

Currency in CAD. All numbers in thousands.

	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31	2005-12-31	2004-12-31	2003-12-31	2002-12-31	2001-12-31	2000-12-31	1999-12-31	1998-12-31	1997-12-31
Cost Of Revenue	6,179,000	4,223,000	3,571,000	3,349,000	3,475,000	3,413,000	2,979,000	2,749,000	3,032,000	3,300,000	3,409,000	3,488,000	2,294,000	1,944,800	1,789,100	1,895,200	2,232,482	2,188,633	1,630,191	1,445,584	1,151,443	1,334,659	2,530,254	6,941,149	0	0	0
Depreciation And Amortization	1,543,000	853,000	1,056,000	1,113,000	1,078,000	696,000	661,000	640,000	595,000	552,000	565,000	539,000	490,000	489,600	497,200	491,300	472,000	464,100	464,600	431,800	401,800	367,700	377,400	333,000	315,800	304,900	249,900
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Ebit	4,923,000	4,797,000	3,206,000	3,311,000	3,124,000	3,212,000	2,971,000	2,564,000	2,605,000	2,316,000	1,831,000	1,287,000	967,000	1,116,100	830,200	926,200	-693,359	96,467	-644,998	-643,695	-327,808	-469,759	-1,570,220	845,200	261,700	736,000	846,300
Ebitda	6,466,000	5,650,000	4,262,000	4,424,000	4,202,000	3,908,000	3,632,000	3,204,000	3,200,000	2,868,000	2,396,000	1,826,000	1,457,000	1,605,700	1,327,400	1,417,500	-221,359	560,567	-180,398	-211,895	73,992	-102,059	-1,192,820	1,178,200	577,500	1,040,900	1,096,200
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Extraordinary Items	0	0	0	0	0	0	541,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Gross Profit	6,376,000	4,591,000	4,424,000	4,361,000	4,317,000	3,903,000	3,575,000	3,483,000	3,680,000	3,320,000	2,724,000	2,207,000	2,883,000	3,036,700	2,613,100	2,919,600	2,475,118	2,394,567	2,761,409	2,457,316	2,509,257	2,330,941	1,168,346	3,655,100	3,496,400	3,516,500	3,716,800
Income Before Tax	-3,053,000	4,145,000	3,620,000	3,202,000	3,146,000	2,588,000	2,498,000	2,152,000	1,959,000	2,038,000	1,125,000	636,000	697,000	870,800	637,900	759,200	801,500	906,200	813,500	556,300	440,500	605,900	547,000	655,100	98,900	599,100	638,100
Income Tax Expense	-6,976,000	628,000	768,000	758,000	706,000	637,000	93,000	553,000	607,000	562,000	250,000	152,000	127,000	220,100	82,500	140,200	-144,700	109,900	270,600	143,300	41,800	109,900	136,600	122,800	32,000	236,700	171,600
Interest Expense	771,000	652,000	440,000	458,000	448,000	453,000	473,000	471,000	394,000	282,000	278,000	279,000	252,000	257,300	285,900	261,100	0	0	0	0	0	0	0	0	0	0	0
Interest Income	0	0	581,000	458,000	350,000	624,000	293,000	387,000	714,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Minority Interest	4,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	101,816	0	0	0
Net Income	3,927,000	3,517,000	2,852,000	2,444,000	2,440,000	1,951,000	2,405,000	1,599,000	1,352,000	1,476,000	875,000	484,000	570,000	650,700	555,400	619,000	946,200	796,300	542,900	413,000	398,700	496,000	410,400	532,300	66,900	362,400	468,900
Net Income Applicable To Common Shares	0	3,517,000	2,852,000	2,444,000	2,440,000	1,951,000	2,405,000	1,599,000	1,352,000	1,270,114	823,684	487,805	558,988	652,658	582,129	508,711	949,333	682,992	465,609	343,308	307,402	315,381	257,789	1,176,151	0	0	0
Net Income From Continuing Ops	4,176,000	3,517,000	2,852,000	2,444,000	2,440,000	1,951,000	2,405,000	1,599,000	138,933	1,270,114	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Interest Income	-731,000	-652,000	-440,000	-458,000	-448,000	-453,000	-473,000	-471,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Operating Income Net Other	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Recurring	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Operating Income	4,388,000	4,797,000	3,206,000	3,311,000	3,124,000	2,831,000	2,519,000	2,578,000	2,688,000	2,339,000	1,420,000	949,000	967,000	1,116,100	836,700	1,057,400	1,164,200	2,257,200	991,100	716,600	483,200	856,500	816,500	845,200	261,700	736,000	802,100
Other Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Operating Expenses	8,170,000	5,485,000	4,789,000	4,399,000	4,668,000	4,485,000	4,035,000	3,654,000	4,092,000	4,285,000	4,285,000	4,398,000	4,210,000	3,865,400	3,565,500	3,874,200	5,775,882	5,643,233	5,020,344	4,560,089	4,070,725	4,143,759	5,370,537	2,809,900	3,234,700	2,780,500	2,914,700
Preferred Stock And Other Adjustments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Reconciled Depreciation	1,305,000	853,000	811,000	779,000	706,000	696,000	661,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Research Development	0	0	0	0	44,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling And Marketing Expenses	0	0	0	209,000	222,000	221,000	197,000	180,000	184,000	167,000	159,000	153,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling General Administrative	0	601,000	1,218,000	1,050,000	1,193,000	1,072,000	1,056,000	905,000	1,060,000	985,000	876,000	639,000	1,426,000	1,431,000	1,303,800	1,305,500	819,753	798,637	1,328,140	1,257,759	1,395,214	1,135,404	0	837,456	0	591,600	616,600
Tax Provision	-7,149,000	628,000	768,000	758,000	706,000	637,000	634,000	553,000	607,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Operating Expenses	1,991,000	1,262,000	1,218,000	1,050,000	1,193,000	1,072,000	1,056,000	905,000	1,060,000	985,000	876,000	910,000	1,916,000	1,920,600	1,776,400	1,979,000	3,543,400	3,454,600	3,390,154	3,114,506	2,919,283	2,809,100	2,840,283	2,809,900	3,234,700	2,780,500	2,914,700
Total Other Income Expense Net	-6,667,000	-652,000	414,000	-109,000	22,000	210,000	452,000	45,000	-267,000	-15,000	-445,000	-388,000	-18,000	12,000	93,600	145,400	-362,700	-1,156,500	16,254	-13,494	-82,217	-8,400	-101,717	-190,100	-162,800	-136,900	-44,200
Total Revenue	12,555,000	8,814,000	7,995,000	7,710,000	7,792,000	7,316,000	6,554,000	6,232,000	6,712,000	6,620,000	6,133,000	5,695,000	5,177,000	4,981,500	4,402,200	4,814,800	4,707,600	4,583,200	4,391,600	3,902,900	3,660,700	3,665,600	3,698,600	3,655,100	3,496,400	3,516,500	3,716,800

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-06-30	2002-03-31	2001-12-31	2001-09-30	2001-06-30	2001-03-31	2000-12-31	2000-09-30	2000-06-30
Cost Of Revenue	1,784,000	1,660,000	1,644,000	1,091,000	1,146,000	1,063,000	1,021,000	993,000	922,000	865,000	879,000	905,000	887,000	809,000	756,000	897,000	885,000	833,000	890,000	867,000	882,000	845,000	839,000	847,000	716,000	648,000	687,000	654,000	705,000	669,000	658,000	717,000	738,000	752,000	729,000	813,000	793,000	814,000	839,000	897,000	853,000	794,000	831,000	931,000	882,000	567,000	626,000	383,000	592,900	558,000	575,700	567,400	513,100	459,400	487,100	483,300	447,100	374,100	359,800	458,000	655,900	484,000	827,245	499,210	903,435	434,683	346,342	435,694	960,183	403,461	408,570	416,315	435,256	398,811	401,034	395,016	353,025	364,019	511,178	512,331	720,316	123,592	633,907	222,684	945,929	125,713	620,953	612,179	2,084,984	118,425	425,033	432,872	826,798	-842,409	859,025
Depreciation And Amortization	457,000	451,000	410,000	225,000	219,000	213,000	211,000	210,000	206,000	203,000	200,000	202,000	197,000	195,000	195,000	192,000	178,000	185,000	183,000	160,000	180,000	174,000	172,000	170,000	168,000	162,000	165,000	166,000	162,000	155,000	161,000	162,000	155,000	149,000	145,000	146,000	139,000	135,000	137,000	141,000	144,000	139,000	141,000	141,000	140,000	137,000	135,000	127,000	122,900	123,000	122,000	122,300	121,200	123,900	119,500	125,000	80,600	134,200	138,400	135,700	125,900	120,800	366,685	-122,085	836,886	-120,744	-122,387	-121,754	824,739	-120,163	-121,486	-118,990	811,050	-116,746	-115,141	-114,563	756,845	-108,793	-110,142	-106,110	699,741	-99,581	-99,534	-98,826	642,309	-186,388	5,499	-93,720	653,693	85,590	0	0	0	0	0
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Ebit	1,530,000	1,245,000	1,032,000	1,117,000	1,538,000	1,255,000	1,200,000	833,000	797,000	901,000	913,000	874,000	1,007,000	863,000	887,000	918,000	971,000	966,000	918,000	639,000	967,000	894,000	718,000	633,000	749,000	687,000	676,000	670,000	717,000	669,000	554,000	613,000	673,000	691,000	661,000	609,000	693,000	626,000	589,000	423,000	536,000	530,000	412,000	362,000	375,000	378,000	258,000	274,000	269,700	324,600	230,700	109,200	308,500	337,700	277,900	214,800	327,500	261,900	190,000	124,900	-122,000	294,500	266,400	494,831	-1,426,930	523,734	466,927	465,955	3,875,845	537,399	472,783	473,262	-1,263,451	380,554	514,816	400,759	-1,173,350	365,033	465,272	340,074	-928,086	415,107	524,320	244,093	-1,094,725	551,396	236,078	374,479	-2,201,086	243,956	0	0	0	0	0
Ebitda	1,987,000	1,696,000	1,442,000	1,342,000	1,757,000	1,468,000	1,411,000	1,043,000	1,003,000	1,104,000	1,113,000	1,076,000	1,204,000	1,058,000	1,082,000	1,110,000	1,149,000	1,151,000	1,101,000	799,000	1,147,000	1,068,000	890,000	803,000	917,000	849,000	841,000	836,000	879,000	824,000	715,000	775,000	828,000	840,000	806,000	755,000	832,000	761,000	726,000	564,000	680,000	669,000	553,000	503,000	515,000	515,000	393,000	401,000	392,600	447,600	352,700	231,500	429,700	461,600	397,400	339,800	408,100	396,100	328,400	260,600	3,900	415,300	633,085	372,746	-590,044	402,989	344,540	344,201	4,700,584	417,235	351,297	354,272	-452,401	263,808	399,676	286,196	-416,505	256,240	355,130	233,964	-228,345	315,526	424,786	145,267	-452,416	365,008	241,577	280,758	-1,547,393	329,546	0	0	0	0	0
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Extraordinary Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Gross Profit	1,992,000	1,679,000	1,530,000	1,175,000	1,316,000	1,249,000	1,181,000	845,000	1,118,000	1,077,000	1,175,000	1,054,000	1,125,000	1,054,000	1,036,000	1,146,000	1,184,000	1,146,000	1,087,000	900,000	1,124,000	1,053,000	911,000	815,000	997,000	947,000	956,000	949,000	932,000	885,000	792,000	874,000	949,000	957,000	922,000	852,000	967,000	856,000	842,000	612,000	754,000	740,000	666,000	564,000	620,000	884,000	740,000	993,000	814,600	783,600	688,800	596,000	781,200	826,800	747,100	683,500	674,800	714,100	662,600	612,700	643,800	780,700	1,220,300	644,734	285,004	753,170	870,360	680,702	236,419	745,734	719,035	693,159	733,977	705,090	702,483	619,638	656,005	630,102	1,009,616	888,359	245,523	779,924	285,570	657,237	6,355	790,951	304,907	264,335	-1,137,185	780,722	0	0	3,851,532	0	0
Income Before Tax	1,293,000	1,038,000	-6,347,000	963,000	1,373,000	1,087,000	1,010,000	675,000	683,000	641,000	1,503,000	793,000	997,000	787,000	824,000	594,000	896,000	829,000	848,000	573,000	739,000	821,000	558,000	470,000	621,000	680,000	618,000	579,000	527,000	470,000	445,000	710,000	456,000	482,000	567,000	454,000	620,000	550,000	515,000	353,000	38,000	454,000	344,000	289,000	-12,000	305,000	151,000	192,000	232,300	246,200	173,000	45,500	237,200	276,100	212,700	143,200	156,800	275,500	222,300	59,300	-51,100	221,400	203,500	104,730	-35,168	311,487	339,235	186,383	220,855	239,262	277,465	168,444	201,942	291,589	194,779	125,068	150,997	227,009	134,052	44,186	175,131	140,877	-1,609	126,362	179,296	111,323	221,102	95,322	168,002	149,459	118,296	29,659	239,895	-196,873	200,757
Income Tax Expense	275,000	258,000	-7,672,000	163,000	102,000	196,000	245,000	85,000	151,000	169,000	257,000	191,000	195,000	189,000	189,000	185,000	232,000	211,000	124,000	139,000	194,000	199,000	122,000	122,000	-363,000	170,000	138,000	148,000	143,000	123,000	117,000	170,000	137,000	159,000	177,000	134,000	169,000	150,000	144,000	99,000	-44,000	130,000	92,000	72,000	-27,000	81,000	48,000	50,000	10,800	59,400	45,000	11,800	51,400	78,800	46,100	43,400	-40,400	80,100	65,000	-3,200	-251,700	48,700	48,600	14,164	-377,491	92,896	82,281	57,725	73,567	77,858	-98,902	57,547	66,247	88,136	71,844	44,324	22,965	49,721	49,943	20,640	2,234	46,159	-30,679	23,931	53,439	46,068	51,788	-41,252	57,217	13,214	35,535	7,652	4,223	-77,173	78,695
Interest Expense	206,000	207,000	204,000	154,000	166,000	166,000	160,000	160,000	125,000	104,000	101,000	110,000	112,000	114,000	118,000	114,000	112,000	110,000	112,000	114,000	114,000	112,000	112,000	115,000	116,000	115,000	122,000	120,000	116,000	116,000	115,000	124,000	122,000	103,000	84,000	85,000	73,000	70,000	69,000	70,000	70,000	70,000	68,000	70,000	69,000	69,000	69,000	69,000	64,000	64,300	62,500	64,200	76,000	60,600	64,800	66,700	64,700	65,400	75,700	73,300	83,100	64,500	62,900	59,900	67,222	51,942	49,508	42,185	44,086	44,815	44,844	41,941	43,053	44,013	45,451	45,233	44,805	44,608	43,886	42,147	40,864	42,948	41,354	40,597	38,151	38,062	43,464	42,488	46,231	36,316	33,884	30,039	59,723	51,603	52,621
Interest Income	0	0	0	0	0	0	0	0	266,000	143,000	46,000	78,000	112,000	152,000	33,000	324,000	75,000	137,000	71,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Minority Interest	5,000	0	-1,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	101,816	0	0
Net Income	1,023,000	780,000	1,324,000	800,000	1,271,000	891,000	765,000	590,000	532,000	472,000	1,246,000	602,000	802,000	598,000	635,000	409,000	664,000	618,000	724,000	434,000	545,000	622,000	436,000	348,000	984,000	510,000	480,000	431,000	384,000	347,000	328,000	540,000	319,000	323,000	390,000	320,000	451,000	400,000	371,000	254,000	82,000	324,000	252,000	217,000	15,000	224,000	103,000	142,000	221,500	186,800	128,000	33,700	185,800	197,300	166,600	99,800	197,200	195,400	157,300	62,500	200,600	172,700	154,900	90,566	342,324	218,591	256,954	128,657	147,288	161,404	376,367	110,897	135,694	203,453	122,934	80,744	128,032	177,288	84,109	23,546	172,897	94,718	29,070	102,431	125,857	65,255	169,314	136,574	110,785	136,244	82,761	22,007	57,041	176,537	122,062
Net Income Applicable To Common Shares	0	780,000	780,000	800,000	1,271,000	891,000	765,000	590,000	532,000	472,000	1,246,000	602,000	802,000	598,000	635,000	409,000	664,000	618,000	724,000	184,141	62,107	485,482	330,654	269,496	784,376	407,706	370,228	323,744	285,757	264,300	253,772	415,193	230,475	242,584	312,175	252,207	388,091	357,175	347,671	229,864	77,191	314,258	240,069	213,415	15,118	228,036	101,288	143,319	217,221	177,888	132,863	34,735	186,359	191,721	156,491	99,468	184,506	185,653	135,277	49,564	157,051	160,357	151,503	88,393	343,433	220,474	242,995	111,169	124,882	146,814	338,435	93,127	116,123	175,019	100,530	66,733	107,481	139,846	62,791	17,943	134,156	67,490	25,317	69,409	79,863	41,149	111,265	85,351	61,369	72,950	82,761	22,007	57,041	176,537	122,062
Net Income From Continuing Ops	1,018,000	780,000	1,325,000	800,000	1,271,000	891,000	765,000	590,000	532,000	472,000	1,246,000	602,000	802,000	598,000	635,000	409,000	664,000	618,000	724,000	434,000	62,107	485,482	330,654	269,496	1,627,740	940,123	-959,506	323,744	1,708,588	-722,066	194,197	0	976,808	0	0	0	1,270,114	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Interest Income	-206,000	-207,000	-204,000	-154,000	-166,000	-166,000	-160,000	-160,000	-125,000	-104,000	-101,000	-110,000	-112,000	-114,000	-118,000	-114,000	-112,000	-110,000	-112,000	-114,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Operating Income Net Other	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Recurring	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Operating Income	1,442,000	1,173,000	944,000	1,117,000	1,538,000	1,255,000	1,200,000	833,000	832,000	774,000	820,000	780,000	928,000	779,000	770,000	834,000	890,000	869,000	822,000	543,000	874,000	790,000	627,000	540,000	753,000	690,000	679,000	671,000	717,000	657,000	551,000	653,000	677,000	753,000	646,000	612,000	708,000	621,000	587,000	423,000	114,000	524,000	420,000	362,000	60,000	376,000	239,000	274,000	302,700	324,600	230,500	109,200	297,700	337,700	274,100	205,000	273,700	261,200	225,800	139,400	304,900	303,200	251,100	197,689	305,534	321,688	308,005	229,402	-5,807,032	296,357	281,053	228,888	258,530	283,095	270,515	178,798	158,619	219,878	221,680	116,230	194,550	208,319	-38,022	118,351	238,429	223,445	219,797	176,124	259,212	222,234	135,799	96,123	304,511	-258,943	264,050
Other Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Operating Expenses	2,336,000	2,166,000	2,230,000	1,351,000	1,473,000	1,273,000	1,304,000	1,202,000	1,208,000	1,134,000	1,234,000	1,179,000	1,084,000	1,084,000	992,000	1,209,000	1,179,000	1,110,000	1,156,000	1,224,000	1,132,000	1,108,000	1,123,000	1,122,000	960,000	905,000	964,000	932,000	920,000	887,000	887,000	971,000	1,010,000	1,015,000	995,000	1,053,000	1,052,000	1,043,000	1,089,000	1,086,000	1,065,000	1,004,000	1,077,000	1,130,000	1,124,000	1,075,000	1,127,000	1,102,000	1,104,800	1,017,000	1,034,000	1,054,200	996,600	948,500	960,100	961,800	848,200	827,000	796,600	931,300	994,800	961,500	969,200	946,255	3,115,387	866,166	908,698	886,994	1,491,300	852,839	846,552	880,586	2,496,671	854,682	833,001	835,856	2,224,200	774,243	787,433	772,128	1,892,815	695,198	727,654	761,570	2,048,514	693,219	706,063	700,390	3,199,949	669,606	0	0	0	0	0
Preferred Stock And Other Adjustments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Reconciled Depreciation	457,000	451,000	410,000	225,000	219,000	213,000	211,000	210,000	206,000	203,000	200,000	202,000	197,000	195,000	195,000	192,000	178,000	185,000	183,000	160,000	180,000	174,000	172,000	170,000	168,000	162,000	165,000	166,000	162,000	155,000	161,000	162,000	155,000	149,000	145,000	146,000	139,000	135,000	137,000	141,000	144,000	139,000	141,000	141,000	140,000	137,000	135,000	127,000	122,900	123,000	122,000	122,300	121,200	123,900	119,500	125,000	80,600	134,200	138,400	135,700	125,900	120,800	366,685	-122,085	836,886	-120,744	-122,387	-121,754	824,739	-120,163	-121,486	-118,990	811,050	-116,746	-115,141	-114,563	756,845	-108,793	-110,142	-106,110	699,741	-99,581	-99,534	-98,826	642,309	-186,388	5,499	-93,720	653,693	85,590	0	0	0	0	0
Research Development	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	472,899	0	0	0	0	0
Selling And Marketing Expenses	0	0	0	0	0	0	0	0	154,000	50,000	51,000	53,000	55,000	51,000	47,000	56,000	57,000	54,000	55,000	56,000	58,000	56,000	54,000	53,000	53,000	49,000	48,000	47,000	47,000	44,000	44,000	44,000	45,000	46,000	46,000	0	44,000	43,000	43,000	0	41,000	40,000	0	39,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling General Administrative	683,000	506,000	-83,000	260,000	577,000	210,000	158,000	209,000	286,000	146,000	355,000	274,000	197,000	275,000	125,000	312,000	294,000	277,000	140,000	357,000	250,000	263,000	284,000	275,000	244,000	257,000	277,000	278,000	215,000	117,000	133,000	140,000	272,000	139,000	162,000	240,000	259,000	149,000	142,000	189,000	212,000	147,000	246,000	151,000	242,000	371,000	366,000	592,000	389,000	336,400	336,100	364,500	362,300	365,200	349,700	353,500	312,500	320,200	301,600	340,900	349,400	312,300	315,500	327,454	156,009	313,488	443,138	332,648	205,524	333,989	320,535	349,576	330,662	344,651	321,505	331,281	320,793	307,065	684,733	672,331	69,315	475,687	0	445,467	310,392	479,567	0	0	0	0	0	0	837,456	0	0
Tax Provision	275,000	258,000	-7,672,000	163,000	102,000	196,000	245,000	85,000	151,000	169,000	257,000	191,000	195,000	189,000	189,000	185,000	232,000	211,000	124,000	139,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Operating Expenses	552,000	506,000	586,000	260,000	327,000	210,000	283,000	209,000	286,000	269,000	355,000	274,000	197,000	275,000	236,000	312,000	294,000	277,000	266,000	357,000	250,000	263,000	284,000	275,000	244,000	257,000	277,000	278,000	215,000	218,000	229,000	254,000	272,000	263,000	266,000	240,000	259,000	229,000	250,000	189,000	212,000	210,000	246,000	199,000	242,000	508,000	501,000	719,000	511,900	459,000	458,300	486,800	483,500	489,100	473,000	478,500	401,100	452,900	436,800	473,300	338,900	477,500	969,200	447,045	2,211,952	431,482	562,356	451,300	-2,451,484	449,377	437,982	464,271	2,061,415	455,871	431,967	440,840	1,871,175	410,224	787,433	772,128	1,172,499	571,605	93,747	538,885	1,102,585	567,506	85,110	88,211	1,114,965	551,181	0	0	0	0	0
Total Other Income Expense Net	59,000	72,000	-7,087,000	-154,000	-165,000	-168,000	-190,000	-158,000	-24,000	-63,000	784,000	123,000	181,000	122,000	142,000	-126,000	118,000	70,000	139,000	144,000	-21,000	143,000	43,000	45,000	-16,000	105,000	61,000	28,000	-74,000	-81,000	-3,000	214,000	-99,000	-109,000	-5,000	-73,000	-15,000	-7,000	-8,000	-70,000	-434,000	-6,000	-8,000	-6,000	-321,000	-2,000	-19,000	-13,000	26,600	-14,100	5,000	500	4,700	-1,000	3,400	-4,900	-98,000	79,000	108,000	7,700	115,000	7,900	-47,600	-44,186	-487,795	36,698	82,682	3,801	-1,187,942	-5,490	47,557	-10,690	-63,988	96,630	-18,460	2,102	-41,820	66,797	-30,247	-17,936	1,110	-11,291	-139,215	66,384	-1,505	-53,563	63,330	-16,421	-51,064	-14,415	0	0	0	0	0
Total Revenue	3,776,000	3,339,000	3,174,000	2,266,000	2,462,000	2,312,000	2,202,000	1,838,000	2,040,000	1,942,000	2,054,000	1,959,000	2,012,000	1,863,000	1,792,000	2,043,000	2,069,000	1,979,000	1,977,000	1,767,000	2,006,000	1,898,000	1,750,000	1,662,000	1,713,000	1,595,000	1,643,000	1,603,000	1,637,000	1,554,000	1,450,000	1,591,000	1,687,000	1,709,000	1,651,000	1,665,000	1,760,000	1,670,000	1,681,000	1,509,000	1,607,000	1,534,000	1,497,000	1,495,000	1,502,000	1,451,000	1,366,000	1,376,000	1,407,500	1,341,600	1,264,500	1,163,400	1,294,300	1,286,200	1,234,200	1,166,800	1,121,900	1,088,200	1,022,400	1,070,700	1,299,700	1,264,700	1,220,300	1,143,944	1,188,439	1,187,853	1,216,702	1,116,396	1,196,602	1,149,195	1,127,605	1,109,474	1,169,232	1,103,901	1,103,517	1,014,654	1,009,030	994,121	1,009,616	888,359	965,839	903,516	919,477	879,921	952,284	916,663	925,860	876,514	947,799	899,148	615,192	580,725	611,770	613,209	1,227,168

Latest Income Statement (annual, 2023-12-31)

Gross Profit (+$)
totalRevenue	12,555,000
Cost of Revenue	-6,179,000
Gross Profit	6,376,000	6,376,000

Operating Income (+$)
Gross Profit	6,376,000
Operating Expense	-1,991,000
Operating Income	4,388,000	4,385,000

Operating Expense (+$)
Research Development	0
Selling General Administrative	0
Selling And Marketing Expenses	0
Operating Expense	1,991,000	0

Net Interest Income (+$)
Interest Income	0
Interest Expense	-771,000
Other Finance Cost	-40,000
Net Interest Income	-731,000

Pretax Income (+$)
Operating Income	4,388,000
Net Interest Income	-731,000
Other Non-Operating Income Expenses	0
Income Before Tax (EBT)	-3,053,000	11,055,000 EBIT - interestExpense = 4,152,000 -3,049,000 4,698,000
Interest Expense	771,000
Earnings Before Interest and Taxes (EBIT)	4,923,000	-2,282,000
Earnings Before Interest and Taxes (EBITDA)	6,466,000

After tax Income (+$)
Income Before Tax	-3,053,000
Tax Provision	--7,149,000
Net Income From Continuing Ops	4,176,000	4,096,000
Net Income	3,927,000
Net Income Applicable To Common Shares	0

Non-recurring Events
Discontinued Operations	0
Extraordinary Items	0
Effect of Accounting Charges	0
Other Items	0
Non Recurring	0
Other Operating Expenses	8,170,000
Total Other Income/Expenses Net	-6,667,000	731,000

Technical Analysis of Canadian Pacific Railway Ltd
The psychology behind the price

Technical indicators reflecting market sentiment and the collective psychology of you and other traders. Your emotions and other traders' emotions, such as fear and greed, play a significant role in driving price movements.

General trend

First of all, I'm going to put something in the back of your mind. One of the most stable factors that gives you more confidence as a trader: the general trend of Canadian Pacific Railway Ltd. The general trend of Canadian Pacific Railway Ltd is BULLISH with 57.1% confidence. It is very important for your mental being to use each indicator with this in mind. But beware, also the general trend flips once in a while! You can use moving averages to determine Canadian Pacific Railway Ltd's overall trend. For convenience I use the most commonly used moving averages: 20, 50, 100 & 200. Of course you can use other moving averages or other indicators to determine the trend.

Indicator phases

Some of the indicators I use have 3 zones: overbought, oversold and neutral. Transitions between these zones (market phases) provide valuable trading signals and insights. Expecially with the general trend mind, I use the highlighted phases:

Indicator zone transitions	Bullish trend (57.1%)		Bearish trend (-57.1%)
Overbought to neutral	Bullish pullback	=	Bearish reversal
Upper to lower neutral	Bullish correction	=	Bearish continuation
Nuetral to oversold	Oversold	=	Oversold
Oversold to neutral	Bullish reversal	=	Bearish correction
Lower to upper neutral	Bullish continuation	=	Bearish pullback
Nuetral to overbought	Overbought	=	Overbought

1. Price Targets

1.1 Support & Resistance

Support and resistance are levels on a price chart that act as barriers or zones where the price of an asset tends to stop, reverse, or experience a significant amount of buying or selling pressure.

Support is a price level at which demand for an asset is strong enough to prevent the price from falling further.
Resistance is a price level at which selling pressure becomes significant enough to prevent the price of an asset from rising further.

Score

Let's take a look at the Support & Resistance of Canadian Pacific Railway Ltd.

The long score for the Support & Resistance is 1/1.
The longshort score for the Support & Resistance is 1/(-1 +1).

Around support: The price is currently trading around a support level. This can be considered as a potential entry level. +1

The bullish price targets are: 89.26 < 91.24.

The bearish price targets are: 82.82 > 80.57 > 79.20.

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Canadian Pacific Railway Ltd Daily Support & Resistance Chart

2. Trend Indicators

2.1 Moving Averages

Shows the moving average of the selected period.

Moving averages are lagging trend indicators.
There are many types of moving averages.
Moving averages are also used within other indicators.

Score

Let's take a look at the Moving Averages of Canadian Pacific Railway Ltd. The current mas is .

The long score for the Moving Averages is 11/14.
The longshort score for the Moving Averages is 8/(-14 +14).

MA 20 trending down: The MA 20 is trending down. -1
Close < MA 20: The price is below the MA 20. -1
MA 20 > MA 50: The MA 20 is higher than the MA 50. +1
MA 20 > MA 100: The MA 20 is higher than the MA 100. +1
MA 20 > MA 200: The MA 20 is higher than the MA 200. +1
MA 50 trending up: The MA 50 is trending up. +1
Close < MA 50: The price is below the MA 50. -1
MA 50 > MA 100: The MA 50 is higher than the MA 100. +1
MA 50 > MA 200: The MA 50 is higher than the MA 200. +1
MA 100 trending up: The MA 100 is trending up. +1
Close > MA 100: The price is above the MA 100. +1
MA 100 > MA 200: The MA 100 is higher than the MA 200. +1
MA 200 trending up: The MA 200 is trending up. +1
Close > MA 200: The price is above the MA 200. +1

Directionalities and relatives.

Moving Average	Amount of candles	vs. MA 50	vs. MA 100	vs. MA 200
MA 20	20
MA 50	50	-
MA 100	100	-	-
MA 200	200	-	-	-

Explanation: https://www.youtube.com/watch?v=xwW8h0lrQ-I

Shows the moving average of the selected period.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

There are various kinds of moving averages:

Simple moving average (SMA);
Exponential moving average (EMA);
Smoothed moving average (SMMA);
Linear weighted moving average (LWMA).

The moving average looks at a certain period of time and it calculates the price average. The various types of averages are using various formulas. Don’t worry, you don’t have to memorize any formula. All moving averages are calculated automatically by basically every charting software you use. But it’s good to know how moving averages are actually calculated.

Simple moving average

SMA is calculated by summing up the price closures of the selected period. The price is then divided by the selected period. For example, when using the 21 day moving average you sum up all the closing prices for each day and divide that by 21. The result is a line on the chart representing the average. Because it’s an average in the selected timeframe, the trend is always lagging. An moving average looks like this on the chart:

Source: Tradingview.com

In this case, the blue line represents a 21 day moving average. Because the average is based on results from the past, the indicator will always lag behind. For example, when price would suddenly go up, the moving average won't immediately follow.

All other moving averages discussed below look the same on the chart. The only difference is that the line will move in different directions based on the maths behind the used indicators and the amount of days used to determine the average.

Exponential moving average

The EMA gives more weight to the latest closing prices by giving them more value in the equation. EMA is calculated by adding a certain percentage to the latest closing prices:

EMA = (CLOSE (i) * P) + (EMA (i - 1) * (1 - P))

Where:

CLOSE (i) = current period close price.
EMA (i - 1) = value of the Moving Average of a preceding period.
P = the percentage of using the price value.

Smoothed moving average

A smoothed moving average is an exponential moving average with a long lookback period. Older prices are reduced in weight but are never left out in the calculation. Unlike SMA and EMA where prices are removed when they are beyond the selected period. SMMA is a combination of the SMA and EMA. The main advantage is that it smooths out fluctuations in price.

Linear weighted moving average

The LWMA gives the latest price the highest weight and then lineary scales down with each price before that. The result is that the LWMA reacts quicker to changes in price than the SMA or EMA. The formula:

LWMA = ((Pn∗W1)+(Pn−1∗W2)+(Pn−2∗W3)...) / ∑W

Where:

P = Price for the period.
n = The most recent period, n-1 is the prior period, and n-2 is two periods prior.
W = The assigned weight to each period, with the highest weight going first and then descending linearly based on the number of periods being used.

Moving averages are widely used by many traders. Which moving average you need depends on your trading strategy. Common practise is using a combination of multiple periods. For example, the EMA21, EMA50, EMA100 and EMA200. How does that look on a chart:

Source: Tradingview.com

The lowest (purple) line on the chart represents the EMA200 then following up the EMA100, EMA50 and EMA21.

You can use moving averages to determine a trend. The 200 moving average is mostly used as a baseline for determining the current trend:

When the 200 moving average is moving up it is considered a bullish trend.
When the 200 moving average is down it is considered a bearish trend.
When moving averages are flatlined, there is no clear trend so you should look for market structure, consolidation or trend reversals. Depending on how you want to trade.

This is not set in stone. Most trading strategies use multiple moving averages each with different settings. While one strategy might use the EMA20, the other uses the SMA21. There can be hundreds of different variations. Moving averages can also be used as support and resistance. More often than not, prices will bounce on moving averages.

Canadian Pacific Railway Ltd Daily Moving Averages Chart

2.2 Moving Average Convergence/Divergence (MACD)

Shows the momentum of the selected period based on two moving averages.

MACD is a lagging momentum indicator.
Uses two moving averages.
Can show buy or sell signals based on momentum.
Can show overbought. and oversold. levels.

Score

Let's take a look at the Moving Average Convergence/Divergence (MACD) of Canadian Pacific Railway Ltd. The current macd is -0.56713491.

The long score for the Moving Average Convergence/Divergence (MACD) is 0/4.
The longshort score for the Moving Average Convergence/Divergence (MACD) is -4/(-4 +4).

MACD line < signal line: The MACD line is below the signal line, which indicates a bearish signal in the market. This means that the negative momentum is currently stronger than the average momentum, suggesting that sellers are more active than buyers, and there's a higher probability of the Canadian Pacific Railway Ltd price going down in the near term. -2
MACD < 0: The MACD is below the zero line (centerline), it indicates a bearish signal for Canadian Pacific Railway Ltd. This means that the short-term moving average is lower than the long-term moving average, signaling negative momentum and suggesting a higher likelihood of the Canadian Pacific Railway Ltd price continuing to fall in the near future. It indicates that sellers are gaining control, and there is negativism in the market, leading to potential price decreases. -1
Trending down: The MACD line is trending down. This indicates that the short-term moving average is falling faster than the long-term moving average, suggesting negative momentum in the market. This signals that sellers are becoming more active and insecure, leading to potential price decreases as traders anticipate further losses and are willing to sell at lower prices. -1

Canadian Pacific Railway Ltd Daily Moving Average Convergence/Divergence (MACD) Chart

2.3 Directional Movement Index (DMI)

The DMI is a collection of 3 indicators: +DI (Plus Direction Indicator), -DI (Minus Direction Indicator) and ADX (Average Directional Index). The ADX helps you determine the strength of a trend.

Score

Let's take a look at the Directional Movement Index (DMI) of Canadian Pacific Railway Ltd. The current adx is 17.66.

The long score for the Directional Movement Index (DMI) is 0/7.
The longshort score for the Directional Movement Index (DMI) is -2/(-7 +7).

PLUS_ID < MINUS_DI: The +DI line is below the -DI line. This indicates a bearish signal in the market, as the negative directional movement is currently stronger than the positive directional movement, showing that sellers have the upper hand. Market psychology suggests that traders are pessimistic, expecting further price decreases, and are more willing to sell Canadian Pacific Railway Ltd shares, leading to potential downward momentum in its price. -1
PLUS_ID < MINUS_DI && ADX < 25 && ADX trending up: The ADX is below 25 and indicates a weak or no trend. However, the ADX is rising and a new bearish trend could be forming. -1

Canadian Pacific Railway Ltd Daily Directional Movement Index (DMI) Chart

2.4 Parabolic SAR

Shows the current trend and potential entry and exit signals.

Parabolic SAR (stop and reverse) is a lagging trend indicator.
Shows the current trend.
Shows potential entry signals.
Shows potential exit signals.
Can be used to place trailing stoplosses..

Score

Let's take a look at the Parabolic SAR of Canadian Pacific Railway Ltd. The current sar is 88.42.

The long score for the Parabolic SAR is 0/1.
The longshort score for the Parabolic SAR is -1/(-1 +1).

Close < SAR: The price is below the SAR. It's generally considered a bearish signal. -1

Canadian Pacific Railway Ltd Daily Parabolic SAR Chart

3. Momentum Indicators

3.1 Relative Strength Index (RSI)

Measures the speed and change of price movements.

Leading momentum indicator, meaning the signals are instant.
Ranges between 0 and 100.
Above 70 is considered overbought.
Below 30 is considered oversold.
Above or below 50 can also be used to determine price trend or support and resistance.
RSI divergence looks at a deviation between RSI and price movement. Penketrading automatically calculates RSI divergences.
Can be used in many different ways

Score

Let's take a look at the Relative Strength Index (RSI) of Canadian Pacific Railway Ltd. The current rsi is 35.40. The current phase is Correction in bull market.

The long score for the Relative Strength Index (RSI) is 0/13.
The longshort score for the Relative Strength Index (RSI) is -4/(-13 +13).

Correction in bull market: Moderate price decline, potential pause in the uptrend. Reassess the market, wait for signs of stabilization.
Trending down: The RSI is trending down. -1

Measures the speed and change of price movements.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

The RSI measures the magnitude of recent price changes to determine if the asset is overbought or oversold.

Overbought (RSI above 70) means that the trading price is above its intrinsic value. This might indicate a sell or short signal.
Oversold (RSI below 30) means that the trading price is below its intrinsic value. This might indicate a buy or long signal.
RSI levels above or below 50 can also be used to determine a trend.
RSI divergence looks at a deviation between RSI and price movement.
Can be used in many different ways.

Original usage

Keep in mind that almost every indicator can be used in different ways. Even beyond the orginal settings. The relative strength index was developed by J. Welles Wilder. Wilder recommended a smoothing period of 14 days. That means a 14 day moving average (read more about this setting below). Another quote from the wikipedia page:

Wilders also considers the RSI 50 line as both support and resistance. I recommend to always read the original settings first before using an indicator. Many traders and websites are using their own version of the indicator which might be confusing.

How you can use RSI (Divergence)

First and foremost, there is no real right or wrong usage of the RSI indicator. You can use it in any way you want. Wilder recommends using a 14 day average but you can make it 50 or 100 if you like. Just keep in mind that using an indicator is just part of a larger trading plan. In other words, it’s not recommended to do any trading or investing based on a single indicator like the RSI.

The RSI is measured on a scale between 0 and 100. From 30 till 0 is considered oversold. and from 70 -100 is overbought. The RSI is a leading indicator, meaning the signals are instant.

I like to use the RSI as a trend\momentum indicator and not as an overbought or oversold indicator. I use the middle (50) as the baseline. When prices go above RSI 50 the trend is bullish and can indicate long positions. When below 50 it is considered bearish and can indicate short positions. Other traders use the 70 and 30 levels as overbought/oversold depending on the used strategy. The RSI indicator looks like this:

Source: Tradingview.com

The general concensus is that an RSI above 70 indicates that the security is overbought. In other words, the price this security is trading for is to high and should come down. So if RSI hits 70 or above this might indicate a sell signal or taking a short position (expecting the price will go down). Although RSI above 70 indicates the security is trading above it's fair value, that does not mean the price will go down.

Use tradingview to add indicators

I highly recommend using tradingview to add indicators to a chart. It has all the indicators you can think off and can add them for free (up to three indicators) to any chart you want. You can see that the levels 30 and 70 are marked with a dotted line. If you want you can remove these lines or give it another colour using Tradingview. You can also adjust the moving average used. You can also find RSI indicators made by the community that include other settings like RSI divergences.

Tradingview

Use Tradingview to (back)test your strategies and add hundreds of indicators created by the community.

View tool on Tradingview.com

RSI divergence

RSI is not only used to determine momentum but can also spot reversals or continuations of the trend. A reversal means that the trend is going in the opposite direction. From bullish to bearish or from bearish to bullish. These reversals can be spotted by looking at the price and the direction of the RSI. When the price is going up but the RSI is going down that means there is a divergence. This is also the case when RSI goes up but price is going down.

There are four types of divergences:

Regular bullish divergence
Regular bearish divergence
Hidden bullish divergence
Hidden bearish divergence

Regular bullish divergence

With a regular bullish divergence, the price is making lower highs but the oscillator (in this case the RSI) is making higher lows. A regular bullish divergence might indicate the end of the current trend. You’ll see regular bullish divergences mostly at the end of a downtrend. But that does not mean that every regular bullish divergence is a trend reversal.

Price is making lower highs
RSI is making higher lows
Indicating bullish reversal (price might go up)

Source: Tradingview.com

Regular bearish divergence

With a regular bearish divergence the price is making higher highs but the oscillator (in this case the RSI) is making lower highs. This might indicate the end of an uptrend.

Price is making higher highs
RSI is making lower highs
Indicating bearish reversal

Source: Tradingview.com

Hidden bullish divergence

With a hidden bullish divergence, the price is making a higher low while the RSI is making a lower low. This might indicate bullish trend continuation.

Price is making higher lows
RSI is making lower lows
Indicating bullish continuation

Source: Tradingview.com

As you have noticed, you can have multiple divergences in a row.

Hidden bearish divergence

With a hidden bearish divergence, price is making lower highs but RSI is making higher highs. This might indicate bearish trend continuation.

Price is making lower highs
RSI making higher highs
Indicating bearish continuation

Source: Tradingview.com

You can find many cheatsheets of RSI divergences online. Search for "RSI divergence overview" and you'll find a lot of examples. You can print these to learn the various types of divergences.

Canadian Pacific Railway Ltd Daily Relative Strength Index (RSI) Chart

3.2 Stochastic Oscillator

Compares a certain price to multiple prices ranging over time.

Leading momentum indicator, meaning the signals are instant.
Used to determine overbought and oversold areas much like the RSI.
Ranges between 0 and 100.
Above 80 is considered overbought.
Below 20 is considered oversold.
Consists of two lines named K and D.
K compares the highest high and lowest low on the selected price range.
The D line is a moving average of the K line.
Can be used to spot divergences

Score

Let's take a look at the Stochastic Oscillator of Canadian Pacific Railway Ltd. The current phase is Oversold in bull market.

The long score for the Stochastic Oscillator is 3/6.
The longshort score for the Stochastic Oscillator is 0/(-6 +6).

STOCH < 50: The STOCH %K is below 50. There are more sellers than buyers. -1
STOCH < 20: The STOCH %K is below 20 and oversold. -2
STOCH %K line > STOCH %D line: The STOCH %K line is above the STOCH %D line, which indicates a bullish signal in the market. This means that the positive momentum is currently stronger than the average momentum, suggesting that buyers are more active than sellers, and there's a higher probability of the Canadian Pacific Railway Ltd price going up in the near term. +2
Trending up: The STOCH %K is trending up. +1

Canadian Pacific Railway Ltd Daily Stochastic Oscillator Chart

3.3 Commodity Channel Index (CCI)

Measures the difference between the current price and the historical average price.

Lagging or leading Momentum indicator
When the CCI is above zero, the price is above the historical average
When the CCI is below zero, the price is below the historical average
Used for spotting trends
- If the CCI moves from negative or near zero to positive 100 that might indicate an uptrend
- If the CCI moves from positive or near zero to negative -100 that might indicate a downtrend

Score

Let's take a look at the Commodity Channel Index (CCI) of Canadian Pacific Railway Ltd. The current cci is -218.51702561.

The long score for the Commodity Channel Index (CCI) is 0/1.
The longshort score for the Commodity Channel Index (CCI) is -1/(-1 +1).

CCI < -100: The CCI is below -100, it indicates that the price is significantly below its average, suggesting a potential oversold condition. -1

Canadian Pacific Railway Ltd Daily Commodity Channel Index (CCI) Chart

3.4 Chande Momentum Oscillator (CMO)

Measures the difference between the sum of recent gains and the sum of recent losses. Then divides the result by the sum of all price movements in that period.

Lagging momentum indicator
Ranges between +100 and -100
Considered overbought above +50
Considered oversold below -50
It's possible to add a moving average that acts as a signal line

Score

Let's take a look at the Chande Momentum Oscillator (CMO) of Canadian Pacific Railway Ltd. The current cmo is -44.74886307.

The long score for the Chande Momentum Oscillator (CMO) is 0/1.
The longshort score for the Chande Momentum Oscillator (CMO) is -1/(-1 +1).

CMO < 0: The CMO is below 0, the momentum of the price is negative, indicating a potential downtrend in the price. -1

Canadian Pacific Railway Ltd Daily Chande Momentum Oscillator (CMO) Chart

3.5 Williams %R

Shows the current price relative to the highest high over the last 14 days.

Lagging momentum indicator
Ranging between 0 and -100
Above -20 is considered overbought
Below -80 is considered oversold
Is prone to give false signals

Score

Let's take a look at the Williams %R of Canadian Pacific Railway Ltd. The current willr is -84.6031746.

The long score for the Williams %R is 0/1.
The longshort score for the Williams %R is -1/(-1 +1).

WILLR < -80: The Williams %R is below -80. This indicates that the price is in oversold territory, suggesting a potential price correction or trend reversal to the upside. -1

Canadian Pacific Railway Ltd Daily Williams %R Chart

4. Volatility Indicators

4.1 Bollinger Bands

Shows if the price is to high or to low relative to an average.

Lagging volatility indicator
Uses 3 bands: one upper, one lower and one in the middle
Works best when the middle band reflects an intermediate trend (MA20).
When the price is moving closer to the upper band, the market might be overbought
When the price is moving closer to the lower band, the market might be oversold

Score

Let's take a look at the Bollinger Bands of Canadian Pacific Railway Ltd.

Canadian Pacific Railway Ltd Daily Bollinger Bands Chart

4.2 Average True Range (ATR)

Measures market volatility

Leading volatility indicator
Can be used to determine stop-loss positions
Calculated by:
- Current high minus the current low
- Current high minus the previous close
- Current low minus the previous close
The larger the range of the candles, the greater the ATR value

Score

Let's take a look at the Average True Range (ATR) of Canadian Pacific Railway Ltd. The current atr is 1.62101958.

Canadian Pacific Railway Ltd Daily Average True Range (ATR) Chart

5. Volume Indicators

5.1 On-Balance Volume (OBV)

Measures market volatility

Leading momentum indicator
Calculation:
- If the closing price is above the previous closing price: OBV = previous OBV + current volume
- If the closing price is below the previous closing price: OBV = previous OBV - current volume
- If the closing price is the same as the previous closing price than the OBV is the same.
Can be used to confirm price trends
Can be used with divergences

Score

Let's take a look at the On-Balance Volume (OBV) of Canadian Pacific Railway Ltd. The current obv is 34,161,751.

Canadian Pacific Railway Ltd Daily On-Balance Volume (OBV) Chart

5.2 Money Flow Index (MFI)

Measures the flow of money in and out of a security

Lagging momentum indicator
Looks like RSI but uses volume as an extra metric (RSI only considers price)
Above 80 is considered overbought
Below 20 is considered oversold
Can be used with divergences

Score

Let's take a look at the Money Flow Index (MFI) of Canadian Pacific Railway Ltd. The current mfi is 27.30.

The long score for the Money Flow Index (MFI) is 0/2.
The longshort score for the Money Flow Index (MFI) is -1/(-2 +2).

MFI < 50: -1

Canadian Pacific Railway Ltd Daily Money Flow Index (MFI) Chart

6. Summary

6.1. Notifications

Type	Notification	Date
Currently no notifications for Canadian Pacific Railway Ltd.

6.2. Trading Signals

Below you will find trading signals as the indicator is commonly used. This doesn't mean you should use it that way. Learn from these, but don't use them blindly. I recommend using at least 4 indicators, 1 from each category: trend, momentum, volatility and volume.

Date	Indicator	Signal
2023-11-24	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2023-11-27	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2023-11-29	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2023-11-30	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
2023-12-01	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-05	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-11	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
2023-12-12	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-13	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2023-12-14	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-15	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-19	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-20	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-21	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-22	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-27	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-28	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-03	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
2024-01-05	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
2024-01-11	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-01-16	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-17	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
2024-01-18	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-19	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-01-23	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-25	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-29	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-01-31	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2024-02-01	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-02-02	MFI	LONG ENTRY	SHORT CLOSE	80 crossover to upside
2024-02-05	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-06	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-08	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-12	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
2024-02-13	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
2024-02-14	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-02-16	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-20	MFI	SHORT ENTRY	LONG CLOSE	80 crossover to downside
2024-02-21	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-02-23	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
2024-02-27	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-01	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-03-05	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
2024-03-06	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2024-03-07	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-03-08	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-12	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2024-03-14	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-03-18	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-19	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-03-20	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-03-22	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-25	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-03-27	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-03-28	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-04-01	STOCH	LONG EXIT		The %K line crosses below the %D line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-04-02	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-04-03	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-08	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-04-09	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
2024-04-10	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-04-11	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-04-15	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
2024-04-17	STOCH	SHORT EXIT		The %K line crosses above the %D line.

6.3. Candlestick Patterns

Canadian Pacific Railway Ltd Daily Candlestick Chart

Date	Candlestick Pattern

6.4. Technical Score

Let's check the technical score of Canadian Pacific Railway Ltd based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	35.395
Ma 20	Greater than	Ma 50	87.463
Ma 50	Greater than	Ma 100	87.070
Ma 100	Greater than	Ma 200	82.005
Open	Greater than	Close	84.710
Total			4/5 (80.0%)

Create your own Symbol Scanner

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Quick analysis of Canadian Pacific Railway Ltd (30 sec.)

What can you expect buying and holding a share of Canadian Pacific Railway Ltd? (30 sec.)

How much money do you get?

What is your share worth?

+ What do you gain per year?

For what price can you sell your share?

1. Valuation of Canadian Pacific Railway Ltd (5 min.)

$83.93

$32.86

$1.23 - $17.15

$34.09 - $50.01

2. Growth of Canadian Pacific Railway Ltd (5 min.)

Is Canadian Pacific Railway Ltd growing?

How much money is Canadian Pacific Railway Ltd making?

How much money comes from the company's main activities?

3. Financial Health of Canadian Pacific Railway Ltd (5 min.)

4. Comparing to competitors in the Railroads industry (5 min.)

Industry Rankings (Railroads)

What can you expect buying and holding a share of Canadian Pacific Railway Ltd? (5 min.)

What can you expect buying and holding a share of Canadian Pacific Railway Ltd?

Speculation

Investing

How much money are you going to get?

When do you get the money?

How sure are you?

Linear %

Fundamentals of Canadian Pacific Railway Ltd

About Canadian Pacific Railway Ltd

Financial Health

Valuation

1.1. Profitability of Canadian Pacific Railway Ltd.

1.1. Profitability

1.1.1. Net Profit Margin

Trends

Compared to industry (Railroads)

1.1.2. Return on Assets

Trends

Compared to industry (Railroads)

1.1.3. Return on Equity

Trends

Compared to industry (Railroads)

1.2. Operating Efficiency of Canadian Pacific Railway Ltd.

1.2. Operating Efficiency

1.2.1. Operating Margin

Trends

Compared to industry (Railroads)

1.2.2. Operating Ratio

Trends

Compared to industry (Railroads)

1.3. Liquidity of Canadian Pacific Railway Ltd.

1.3. Liquidity

1.3.1. Current Ratio

Trends

Compared to industry (Railroads)

1.3.2. Quick Ratio

Trends

Compared to industry (Railroads)

1.4. Solvency of Canadian Pacific Railway Ltd.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Trends

Compared to industry (Railroads)

1.4.2. Debt to Equity Ratio

Trends

Compared to industry (Railroads)

2. Market Valuation of Canadian Pacific Railway Ltd

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Trends

Compared to industry (Railroads)

Canadian Pacific Railway Ltd
Buy, Hold or Sell?