Cenovus Energy Inc
Buy, Hold or Sell?

Let's analyse Cenovus together

Penke I guess you are interested in Cenovus Energy Inc. 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 Cenovus Energy Inc. 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.

Get notifications about Cenovus Energy Inc

I send you an email if I find something interesting about Cenovus Energy Inc.

Quick analysis of Cenovus (30 sec.)

What can you expect buying and holding a share of Cenovus? (30 sec.)

How much money do you get?

$0.39

When do you have the money?

1 year

How often do you get paid?

100.0%

What is your share worth?

Current worth

$11.16

Expected worth in 1 year

$11.87

How sure are you?

57.5%

+ What do you gain per year?

Total Gains per Share

$1.10

Return On Investment

5.1%

For what price can you sell your share?

Current Price per Share

$21.46

Expected price per share

$17.93 - $23.84

How sure are you?

50%

1. Valuation of Cenovus (5 min.)

Live pricePrice per Share (EOD)

$21.46

Book Value per Share

$11.16

Intrinsic Value Per Share

$14.60 - $41.04

Total Value Per Share

$25.77 - $52.20

My calculation of the intrinsic value of Cenovus 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: ($0.18) 3Y: ($0.44) TTM: ($0.30)
The change per quarter (trend) of the Free Cash Flow Per Share is 10Y: ($0.02) 3Y: ($0.04) TTM: ($0.01)

Years	Total Low est.	Total High est.	Added Free Cash Flow
1	$0.84	$2.09	$0.97 - $2.36
2	$1.87	$4.71	$1.24 - $2.98
3	$3.07	$7.82	$1.50 - $3.60
4	$4.43	$11.40	$1.77 - $4.22
5	$5.90	$15.41	$2.04 - $4.83
6	$7.49	$19.83	$2.30 - $5.45
7	$9.17	$24.63	$2.57 - $6.07
8	$10.92	$29.78	$2.84 - $6.69
9	$12.74	$35.26	$3.10 - $7.30
10	$14.60	$41.04	$3.37 - $7.92

2. Growth of Cenovus (5 min.)

Is Cenovus growing?

	Current year	Previous year	Grow	Grow %
How rich?	$21b	$19.5b	$1.1b	5.4%

How much money is Cenovus making?

	Current year	Previous year	Grow	Grow %
Making money	$751.5m	$1.1b	-$401m	-53.4%
Net Profit Margin	7.3%	8.7%	-	-

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

Quarterly Yearly

3. Financial Health of Cenovus (5 min.)

4. Comparing to competitors in the Oil & Gas Integrated industry (5 min.)

Industry Rankings (Oil & Gas Integrated)

Richest
#28 / 52

Most Revenue
#32 / 52

Most Profit
#32 / 52

Most Efficient
#26 / 52

What can you expect buying and holding a share of Cenovus? (5 min.)

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

What can you expect buying and holding a share of Cenovus?

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

Speculation

The Price per Share of Cenovus is $21.46. 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 Cenovus.
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 Cenovus, 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 $11.16. Based on the TTM, the Book Value Change Per Share is $0.18 per quarter. Based on the YOY, the Book Value Change Per Share is $0.47 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 $0.10 per quarter.

Based on historical numbers we can estimate the returns while holding a share of Cenovus.

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	0.29	1.3%	0.39	1.8%	0.58	2.7%	0.20	0.9%	0.14	0.6%
Usd Book Value Change Per Share	0.09	0.4%	0.18	0.8%	0.47	2.2%	0.22	1.0%	0.18	0.8%
Usd Dividend Per Share	0.10	0.5%	0.10	0.5%	0.09	0.4%	0.05	0.2%	0.04	0.2%
Usd Total Gains Per Share	0.20	0.9%	0.28	1.3%	0.55	2.6%	0.27	1.2%	0.23	1.1%
Usd Price Per Share	16.65	-	17.98	-	17.62	-	11.77	-	13.38	-
Price to Earnings Ratio	14.41	-	13.38	-	8.97	-	12.30	-	11.72	-
Price-to-Total Gains Ratio	85.03	-	19.64	-	40.88	-	81.70	-	55.99	-
Price to Book Ratio	1.49	-	1.67	-	1.81	-	1.30	-	2.23	-
Price-to-Total Gains Ratio	85.03	-	19.64	-	40.88	-	81.70	-	55.99	-

When do you get the money?

Usd Investment	$.00
Usd Price Per Share	21.46
Number of shares	46

Gains per Quarter	Trailing 12 Months	5 Year
Usd Dividend Per Share	0.10	0.05
Usd Book Value Change Per Share	0.18	0.22
Usd Total Gains Per Share	0.28	0.27
Gains per Quarter (46 shares)	12.68	12.30
Gains per Year (46 shares)	50.74	49.22

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	18	33	41	9	40	39
2	36	66	92	19	79	88
3	54	98	143	28	119	137
4	72	131	194	38	159	186
5	90	164	245	47	199	235
6	108	197	296	57	238	284
7	126	229	347	66	278	333
8	144	262	398	76	318	382
9	162	295	449	85	358	431
10	180	328	500	95	397	480

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%	11.0	1.0	0.0	91.7%	15.0	5.0	0.0	75.0%	26.0	14.0	0.0	65.0%	48.0	14.0	0.0	77.4%
Book Value Change Per Share	2.0	1.0	1.0	50.0%	8.0	3.0	1.0	66.7%	10.0	9.0	1.0	50.0%	18.0	20.0	2.0	45.0%	32.0	25.0	5.0	51.6%
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%	57.0	0.0	5.0	91.9%
Total Gains per Share	3.0	1.0	0.0	75.0%	9.0	3.0	0.0	75.0%	13.0	7.0	0.0	65.0%	23.0	17.0	0.0	57.5%	40.0	20.0	2.0	64.5%

Fundamentals of Cenovus

About Cenovus Energy Inc

https://www.cenovus.com
Oil & Gas Integrated
6925
4100, 225 ? 6 Avenue SW, Calgary, AB, Canada, T2P 0M5
Google Maps Bing Maps

Cenovus Energy Inc., together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments. The Oil Sands segment develops and produces bitumen and heavy oil in northern Alberta and Saskatchewan. This segment assets include Foster Creek, Christina Lake, and Sunrise projects, as well as Lloydminster thermal and conventional heavy oil assets. The Conventional segment holds natural gas liquids and natural gas assets primarily located in Elmworth-Wapiti, Kaybob-Edson, Clearwater, and Rainbow Lake operating in Alberta and British Columbia, as well as interests in various natural gas processing facilities. The offshore segment engages in offshore operation, exploration, and development activities in China and the East Coast of Canada. The Canadian Refining segment owns and operates Lloydminster upgrading and asphalt refining complex, which converts heavy oil and bitumen into synthetic crude oil, diesel, asphalt, and other ancillary products, as well as Bruderheim crude-by-rail terminal and ethanol plants. The U.S. Refining segment refines crude oil to produce gasoline, diesel, jet fuel, asphalt, and other products. Cenovus Energy Inc. is headquartered in Calgary, Canada.

Fundamental data was last updated by Penke on 2024-04-13 10:58:05.

Financial Health

Profitability Details

	Compared to previous year	Compared to industry
The company is making a 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 less efficient.
The company is less efficient in keeping operating costs low.

Liquidity Details

	Compared to previous year	Compared to industry
The company is able 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 underpriced.
Based on how much money comes from the company's main activities, the company is cheap.

1.1. Profitability of Cenovus Energy Inc.

1.1. Profitability

1.1.1. Net Profit Margin

Measures how much net profit Cenovus earns for each $1 of revenue.

Above 10% is considered healthy but always compare Cenovus to the Oil & Gas Integrated industry mean.
A Net Profit Margin of 5.7% means that $0.06 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Cenovus Energy Inc:

The MRQ is 5.7%. The company is making a profit. +1
The TTM is 7.3%. The company is making a profit. +1

Trends

Current period		Compared to		+/-
MRQ	5.7%	TTM	7.3%	-1.6%
TTM	7.3%	YOY	8.7%	-1.4%
TTM	7.3%	5Y	2.1%	+5.2%
5Y	2.1%	10Y	1.8%	+0.4%

Compared to industry (Oil & Gas Integrated)

Period	Company	Industry (mean)	+/-
MRQ	5.7%	5.7%	0.0%
TTM	7.3%	7.0%	+0.3%
YOY	8.7%	8.7%	0.0%
5Y	2.1%	3.3%	-1.2%
10Y	1.8%	3.0%	-1.2%

Measures how much net profit Cenovus earns for each $1 of revenue.

Revenue is the amount of profit Cenovus 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 Cenovus 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 Cenovus to the Oil & Gas Integrated industry mean.
Can be used to compare companies within the Oil & Gas Integrated industry.

You typically want a high profit margin. This means that for each $1 in sales, Cenovus makes more profit. This shows the investor how efficiently Cenovus is operating in general and compared to other companies in the same industry. Cenovus operates in the Oil & Gas Integrated industry.

Why do investors use net profit margin in their analysis

It helps investors to determine the efficiency of Cenovus. If profit margins remain low (compared to the Oil & Gas Integrated 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 Cenovus is 0.06. This means that Cenovus earned $0.06 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 Oil & Gas Integrated industry is 5.7%.
What is the trend?
The trend is important because it shows you how Cenovus is performing over time. The most recent quarter might be important if Cenovus 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 Cenovus 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 Cenovus with other companies in the same industry (Oil & Gas Integrated).
Net profit margin should rise over the years.
Can be influenced when Cenovus sells assets (profit will increase while costs remain the same).
It won’t show what part of Cenovus 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 Cenovus

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 Cenovus = 743,000
Total revenue MRQ Cenovus = 13,134,000
$743,000 / $13,134,000 = 0.06 or 5.7%

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 Cenovus is using its assets to generate profit.

Above 5% is considered healthy but always compare Cenovus to the Oil & Gas Integrated industry mean.
1.4% Return on Assets means that Cenovus generated $0.01 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Cenovus Energy Inc:

The MRQ is 1.4%. Using its assets, the company is less efficient in making profit.
The TTM is 1.9%. Using its assets, the company is less efficient in making profit.

Trends

Current period		Compared to		+/-
MRQ	1.4%	TTM	1.9%	-0.5%
TTM	1.9%	YOY	2.8%	-0.9%
TTM	1.9%	5Y	1.0%	+0.9%
5Y	1.0%	10Y	0.5%	+0.4%

Compared to industry (Oil & Gas Integrated)

Period	Company	Industry (mean)	+/-
MRQ	1.4%	1.8%	-0.4%
TTM	1.9%	1.9%	0.0%
YOY	2.8%	2.4%	+0.4%
5Y	1.0%	1.0%	0.0%
10Y	0.5%	0.8%	-0.3%

Shows how efficient Cenovus 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 Cenovus to the Oil & Gas Integrated 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 Cenovus is using its resources to generate profit. If the return on assets (1.4%) from Cenovus are higher than the Oil & Gas Integrated mean (1.8%) that means Cenovus 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 Cenovus is 1.4%. 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 Oil & Gas Integrated industry is 1.8%.
What is the trend?
The trend is important because it shows you how Cenovus is performing over time. The most recent quarter might be important if Cenovus 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 Cenovus 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 Cenovus

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

Income statement
Balance sheet

Net income MRQ (income statement) from Cenovus = 743,000
Total assets MRQ (balance sheet) from Cenovus = 53,915,000
743,000 / 53,915,000 = 0.01 or 1.4%

ROA is an important ratio as it will tell you how effectively Cenovus 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 Cenovus is using its investors money to generate profit.

Above 15%-20% is considered healthy but always compare Cenovus to the Oil & Gas Integrated industry mean.
2.6% Return on Equity means Cenovus generated $0.03 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Cenovus Energy Inc:

The MRQ is 2.6%. Using its investors money, the company is inefficient in making profit. -1
The TTM is 3.6%. Using its investors money, the company is inefficient in making profit. -1

Trends

Current period		Compared to		+/-
MRQ	2.6%	TTM	3.6%	-1.0%
TTM	3.6%	YOY	6.0%	-2.4%
TTM	3.6%	5Y	1.9%	+1.7%
5Y	1.9%	10Y	1.1%	+0.8%

Compared to industry (Oil & Gas Integrated)

Period	Company	Industry (mean)	+/-
MRQ	2.6%	4.3%	-1.7%
TTM	3.6%	4.6%	-1.0%
YOY	6.0%	6.0%	0.0%
5Y	1.9%	2.4%	-0.5%
10Y	1.1%	1.7%	-0.6%

Shows how efficient Cenovus 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 Cenovus to the Oil & Gas Integrated 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 Oil & Gas Integrated 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 Cenovus is 2.6%. This means Cenovus generated $0.03 for each $1 the owners (shareholders) invested.
How does it compare to the industry?
The mean MRQ Return on Equity of the Oil & Gas Integrated industry is 4.3%.
What is the trend?
The trend is important because it shows you how Cenovus is performing over time. The most recent quarter might be important if Cenovus 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 Cenovus up to 10 years back (depending if Cenovus 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 Cenovus

You need the following data to determine ROE:

Income statement
Balance sheet
Net profit MRQ (income statement) Cenovus = 743,000
Shareholders equity (balance sheet) MRQ Cenovus = 28,698,000
743,000 / 28,698,000 = 0.03 or 2.6%

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 Cenovus Energy Inc.

1.2. Operating Efficiency

1.2.1. Operating Margin

Measures how efficient Cenovus is operating .

Measures how much profit Cenovus 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 Cenovus to the Oil & Gas Integrated industry mean.
An Operating Margin of 7.6% means the company generated $0.08 for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Cenovus Energy Inc:

The MRQ is 7.6%. The company is operating less efficient.
The TTM is 10.3%. The company is operating less efficient.

Trends

Current period		Compared to		+/-
MRQ	7.6%	TTM	10.3%	-2.8%
TTM	10.3%	YOY	14.5%	-4.1%
TTM	10.3%	5Y	5.1%	+5.2%
5Y	5.1%	10Y	1.4%	+3.7%

Compared to industry (Oil & Gas Integrated)

Period	Company	Industry (mean)	+/-
MRQ	7.6%	11.6%	-4.0%
TTM	10.3%	13.1%	-2.8%
YOY	14.5%	15.8%	-1.3%
5Y	5.1%	8.5%	-3.4%
10Y	1.4%	8.0%	-6.6%

Measures how efficient Cenovus 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 Cenovus to the Oil & Gas Integrated 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 Cenovus 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 Cenovus is 7.6%. This means that Cenovus earned $0.08 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Margin of the Oil & Gas Integrated industry is 11.6%.
What is the trend?
The trend is important because it shows you how Cenovus is performing over time. The most recent quarter might be important if Cenovus 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 Cenovus 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 Cenovus

You need the following data to determine operating margin:

Income statement
Operating earnings MRQ Cenovus = 993,000
Total revenue MRQ Cenovus = 13,134,000
$993,000 / $13,134,000 = 0.08 or 7.6%

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 Cenovus is keeping operating costs low.

Below 1 is considered healthy (always compare to Oil & Gas Integrated industry mean).
An Operation Ratio of 0.92 means that the operating costs are $0.92 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of Cenovus Energy Inc:

The MRQ is 0.924. The company is less efficient in keeping operating costs low.
The TTM is 0.901. The company is less efficient in keeping operating costs low.

Trends

Current period		Compared to		+/-
MRQ	0.924	TTM	0.901	+0.024
TTM	0.901	YOY	0.864	+0.037
TTM	0.901	5Y	0.951	-0.051
5Y	0.951	10Y	0.988	-0.037

Compared to industry (Oil & Gas Integrated)

Period	Company	Industry (mean)	+/-
MRQ	0.924	0.961	-0.037
TTM	0.901	0.917	-0.016
YOY	0.864	0.900	-0.036
5Y	0.951	0.951	+0.000
10Y	0.988	0.960	+0.028

Measures how efficient Cenovus 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 Cenovus to the Oil & Gas Integrated 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 Cenovus is 92.4%. This means that Cenovus earned $0.92 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 Oil & Gas Integrated industry is 0.96.
What is the trend?
The trend is important because it shows you how Cenovus is performing over time. The most recent quarter might be important if Cenovus 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 Cenovus 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 Cenovus

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
(12,070,000 +71,000) \ 13,134,000 = 0.92

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 Cenovus Energy Inc.

1.3. Liquidity

1.3.1. Current Ratio

Measures if Cenovus is able to pay off Short-term Debt.

Above 1.5 is considered healthy (always compare to Oil & Gas Integrated industry mean).
A Current Ratio of 1.56 means the company has $1.56 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of Cenovus Energy Inc:

The MRQ is 1.563. The company is able to pay all its short-term debts. +1
The TTM is 1.548. The company is able to pay all its short-term debts. +1

Trends

Current period		Compared to		+/-
MRQ	1.563	TTM	1.548	+0.016
TTM	1.548	YOY	1.626	-0.078
TTM	1.548	5Y	1.368	+0.180
5Y	1.368	10Y	1.696	-0.328

Compared to industry (Oil & Gas Integrated)

Period	Company	Industry (mean)	+/-
MRQ	1.563	1.300	+0.263
TTM	1.548	1.366	+0.182
YOY	1.626	1.255	+0.371
5Y	1.368	1.300	+0.068
10Y	1.696	1.325	+0.371

Measures if Cenovus 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 Oil & Gas Integrated 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 Cenovus 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 Cenovus is 1.56. This means Cenovus has $1.56 in assets for each $1 in short-term debts.
How does it compare to the industry?
The mean MRQ Current Ratio of the Oil & Gas Integrated industry is 1.30.
What is the trend?
The trend is important because it shows you how Cenovus is performing over time. The most recent quarter might be important if Cenovus 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 Cenovus 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 Cenovus

You need the following data to determine operating ratio:

Balance sheet
Current ratio = current assets \ current liabilities
9,708,000 \ 6,210,000) = 1.56

The current ratio measures if Cenovus 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 Cenovus 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 Cenovus 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 Cenovus 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 Cenovus is able to pay off Short-term Debt but only using the most liquid assets.

Above 1 is considered healthy but always compare Cenovus to the Oil & Gas Integrated industry mean.
A Quick Ratio of 0.87 means the company can pay off $0.87 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Cenovus Energy Inc:

The MRQ is 0.872. The company is just not able to pay all its short-term debts with the most liquid assets. -1
The TTM is 0.873. 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	0.872	TTM	0.873	-0.001
TTM	0.873	YOY	1.010	-0.136
TTM	0.873	5Y	0.802	+0.071
5Y	0.802	10Y	1.104	-0.301

Compared to industry (Oil & Gas Integrated)

Period	Company	Industry (mean)	+/-
MRQ	0.872	0.760	+0.112
TTM	0.873	0.779	+0.094
YOY	1.010	0.778	+0.232
5Y	0.802	0.781	+0.021
10Y	1.104	0.806	+0.298

1.4. Solvency of Cenovus Energy Inc.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Measures how much % of Cenovus assets are financed with debt.

Below 1 (100%) is considered healthy but always compare Cenovus to Oil & Gas Integrated industry mean.
A Debt to Asset Ratio of 0.47 means that Cenovus assets are financed with 46.7% credit (debt) and the remaining percentage (100% - 46.7%) is financed by its owners/shareholders.

Let's take a look of the Debt to Asset Ratio trends of Cenovus Energy Inc:

The MRQ is 0.467. The company is very able to pay all its debts by selling its assets. +2
The TTM is 0.478. The company is very able to pay all its debts by selling its assets. +2

Trends

Current period		Compared to		+/-
MRQ	0.467	TTM	0.478	-0.011
TTM	0.478	YOY	0.516	-0.038
TTM	0.478	5Y	0.502	-0.024
5Y	0.502	10Y	0.522	-0.020

Compared to industry (Oil & Gas Integrated)

Period	Company	Industry (mean)	+/-
MRQ	0.467	0.528	-0.061
TTM	0.478	0.524	-0.046
YOY	0.516	0.567	-0.051
5Y	0.502	0.543	-0.041
10Y	0.522	0.528	-0.006

Measures how much % of Cenovus assets are financed with debt.

When there are more debts than assets, that means creditors have a larger stake Cenovus than its shareholders.

How to use debt to asset ratio

Lower is better.
below 1 (100%) is considered healthy but always compare Cenovus to Oil & Gas Integrated 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 Cenovus is 0.47. This means means that Cenovus is financed with 46.7% 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 Oil & Gas Integrated industry is 130.0%.
What is the trend?
The trend is important because it shows you how Cenovus is performing over time. The most recent quarter might be important if Cenovus 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 Cenovus 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 Cenovus has so much debt.

How to calculate debt to asset ratio

Debt to asset ratio = total debt \ total assets

Real life example Cenovus

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

Balance sheet
Debt to asset ratio = total debt \ total assets
25,203,000 \ 53,915,000 = 46.7% 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 Cenovus is able to pay off its debts by using shareholders equity.

Below 2 is considered healthy but always compare Cenovus to the Oil & Gas Integrated industry mean.
A Debt to Equity ratio of 87.8% means that company has $0.88 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Cenovus Energy Inc:

The MRQ is 0.878. The company is very able to pay all its debts with equity. +2
The TTM is 0.917. The company is very able to pay all its debts with equity. +2

Trends

Current period		Compared to		+/-
MRQ	0.878	TTM	0.917	-0.039
TTM	0.917	YOY	1.076	-0.159
TTM	0.917	5Y	1.018	-0.101
5Y	1.018	10Y	1.107	-0.089

Compared to industry (Oil & Gas Integrated)

Period	Company	Industry (mean)	+/-
MRQ	0.878	1.136	-0.258
TTM	0.917	1.136	-0.219
YOY	1.076	1.342	-0.266
5Y	1.018	1.266	-0.248
10Y	1.107	1.174	-0.067

Measures if Cenovus 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 Cenovus 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 Cenovus is 0.88. This means that Cenovus can pay off $0.88 for each $1 in debt.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Oil & Gas Integrated industry is 1.14.
What is the trend?
The trend is important because it shows you how Cenovus is performing over time. The most recent quarter might be important if Cenovus 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 Cenovus 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 Cenovus

You need the following data to determine equity ratio:

Balance sheet
Debt to equity ratio = total debt \ shareholders equity
25,203,000 \ 28,698,000 = 0.88 or 87.8%

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 Cenovus Energy Inc

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 Cenovus generates.

Above 15 is considered overpriced but always compare Cenovus to the Oil & Gas Integrated industry mean.
A PE ratio of 14.41 means the investor is paying $14.41 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Cenovus Energy Inc:

The EOD is 18.575. Based on the earnings, the company is fair priced.
The MRQ is 14.412. Based on the earnings, the company is underpriced. +1
The TTM is 13.376. Based on the earnings, the company is underpriced. +1

Trends

Current period		Compared to		+/-
EOD	18.575	MRQ	14.412	+4.163
MRQ	14.412	TTM	13.376	+1.036
TTM	13.376	YOY	8.973	+4.403
TTM	13.376	5Y	12.296	+1.080
5Y	12.296	10Y	11.721	+0.575

Compared to industry (Oil & Gas Integrated)

Period	Company	Industry (mean)	+/-
EOD	18.575	8.676	+9.899
MRQ	14.412	7.864	+6.548
TTM	13.376	8.310	+5.066
YOY	8.973	5.554	+3.419
5Y	12.296	8.424	+3.872
10Y	11.721	11.071	+0.650

Measures how much money you pay for each share for every $1 in earnings Cenovus 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 Cenovus to the Oil & Gas Integrated 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 Cenovus is 14.41. This means the investor is paying $14.41 for every $1 in earnings.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Oil & Gas Integrated industry is 7.86.
What is the trend?
The trend is important because it shows you how Cenovus is performing over time. The most recent quarter might be important if Cenovus 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 Cenovus 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 Cenovus

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 \ 1,882,051 = EPS
PE ratio MRQ = 14.41

* 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 Cenovus Energy Inc:

The EOD is 7.771. Based on how much money comes from the company's main activities, the company is cheap. +2
The MRQ is 6.029. Based on how much money comes from the company's main activities, the company is cheap. +2
The TTM is 4.232. Based on how much money comes from the company's main activities, the company is cheap. +2

Trends

Current period		Compared to		+/-
EOD	7.771	MRQ	6.029	+1.742
MRQ	6.029	TTM	4.232	+1.797
TTM	4.232	YOY	8.950	-4.717
TTM	4.232	5Y	6.487	-2.254
5Y	6.487	10Y	10.632	-4.145

Compared to industry (Oil & Gas Integrated)

Period	Company	Industry (mean)	+/-
EOD	7.771	6.272	+1.499
MRQ	6.029	5.344	+0.685
TTM	4.232	5.397	-1.165
YOY	8.950	5.349	+3.601
5Y	6.487	6.504	-0.017
10Y	10.632	7.661	+2.971

2. Book Value per Share

2.3. Price to Book Ratio

Measures if the stock price of Cenovus is to cheap or to expensive compared to its book value.

At or below 1 is considered healthy (always compare to Oil & Gas Integrated industry mean).
A PB ratio of 1.49 means the investor is paying $1.49 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of Cenovus Energy Inc:

The EOD is 1.923. Based on the equity, the company is underpriced. +1
The MRQ is 1.492. Based on the equity, the company is underpriced. +1
The TTM is 1.674. Based on the equity, the company is underpriced. +1

Trends

Current period		Compared to		+/-
EOD	1.923	MRQ	1.492	+0.431
MRQ	1.492	TTM	1.674	-0.182
TTM	1.674	YOY	1.813	-0.139
TTM	1.674	5Y	1.304	+0.370
5Y	1.304	10Y	2.232	-0.928

Compared to industry (Oil & Gas Integrated)

Period	Company	Industry (mean)	+/-
EOD	1.923	1.203	+0.720
MRQ	1.492	0.991	+0.501
TTM	1.674	1.025	+0.649
YOY	1.813	1.069	+0.744
5Y	1.304	1.017	+0.287
10Y	2.232	1.123	+1.109

2. Total Gains per Share

3. Holders & Insider Transactions

Let's take a look at which institutions, funds and insiders are holding shares of Cenovus Energy Inc.

3.1. Institutions holding Cenovus Energy Inc

Institutions are holding 55.583% of the shares of Cenovus Energy Inc.

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-12-31	Capital World Investors	8.0651	0.4461	150534829	7750480	5.4281
2023-12-31	Capital Research Global Investors	6.4495	0.4935	120378372	-62445544	-34.1561
2023-12-31	Vanguard Group Inc	2.5478	0.0173	47554943	-1925206	-3.8909
2023-12-31	Wellington Management Company LLP	2.3861	0.1384	44536944	-2790270	-5.8957
2023-12-31	TD Asset Management Inc	2.2605	0.6947	42191779	8841374	26.5105
2023-12-31	Goldman Sachs Group Inc	2.1845	0.0609	40773552	27867293	215.9208
2023-12-31	FMR Inc	2.0183	0.0482	37671751	-4669615	-11.0285
2023-12-31	Royal Bank of Canada	1.9007	0.1379	35475641	-2402142	-6.3418
2023-12-31	Boston Partners Global Investors, Inc	1.5592	0.7108	29101532	-311112	-1.0577
2023-12-31	Bank of Montreal	1.1515	0.1109	21493407	4656670	27.6578
2023-12-31	BMO Capital Markets Corp.	1.1515	0.1109	21493407	4656670	27.6578
2023-12-31	Bank of America Corp	1.0563	0.0331	19716211	10659091	117.6874
2023-12-31	Fidelity International Ltd	0.9294	0.3037	17347629	-9387903	-35.114
2023-12-31	Millennium Management LLC	0.885	0.1191	16518463	5858250	54.9543
2023-12-31	Morgan Stanley - Brokerage Accounts	0.8042	0.022	15011136	5139192	52.0586
2023-12-31	CIBC Global Asset Management Inc	0.8013	0.9339	14956473	-717854	-4.5798
2023-12-31	Egerton Capital LLP	0.7604	2.5597	14193051	-8194337	-36.6025
2023-12-31	Bank of Nova Scotia	0.7033	0.4101	13127386	-2254791	-14.6585
2023-12-31	Mackenzie Investments	0.5922	0.2779	11053328	462273	4.3647
2023-12-31	Capital Research & Mgmt Co - Division 3	0.5746	0.0401	10725418	10154618	1779.0151
Total		38.7814	7.6692	723855252	-9052863	-1.3%

3.2. Funds holding Cenovus Energy Inc

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-12-31	Capital Group EuroPacific Growth Comp	4.5807	1.0491	85497441	4550258	5.6213
2023-12-31	American Funds Europacific Growth A	4.5807	1.0491	85497441	4550258	5.6213
2023-12-31	American Funds Growth Fund of Amer A	3.1338	0.3913	58491869	-40496835	-40.9106
2023-12-31	Capital Group Growth Fnd of Amer Comp	3.1338	0.3913	58491869	-40496835	-40.9106
2023-12-31	Capital Group New Perspective Comp	2.2759	0.5587	42479867	0	0
2023-12-31	American Funds New Perspective A	2.2759	0.5587	42479867	0	0
2023-12-31	Capital Group World Growth & Inc Cmp	1.5081	0.399	28149299	0	0
2023-12-31	American Funds Capital World Gr&Inc A	1.5081	0.399	28149299	0	0
2023-12-31	Capital Group Fundamental Invtrs Comp	1.4449	0.3594	26968197	9812764	57.1992
2023-12-31	American Funds Fundamental Invs A	1.4449	0.3594	26968197	9812764	57.1992
2023-12-31	Vanguard Wellington™ Inv	1.2139	0.3513	22657743	2263597	11.0992
2024-02-29	Vanguard Total Intl Stock Index Inv	0.9588	0.0747	17895009	28353	0.1587
2023-12-31	American Funds American Balanced A	0.7042	0.1036	13143928	10000000	318.0734
2023-12-31	TD Dividend Growth - I	0.6056	2.6284	11304298	-242300	-2.0985
2024-02-29	Vanguard Developed Markets Index Admiral	0.5747	0.1006	10727414	58712	0.5503
2024-01-31	Fidelity Low-Priced Stock	0.5638	0.6346	10523165	-44248	-0.4187
2024-01-31	JHancock Disciplined Value I	0.5379	1.2288	10040669	861190	9.3817
2024-02-29	Vanguard Instl Ttl Intl Stk Mkt Idx TrII	0.4622	0.0759	8627498	55192	0.6438
2023-12-31	TD Canadian Equity - I	0.4277	2.7784	7982500	0	0
2024-03-29	iShares S&P/TSX Capped Energy ETF	0.4238	12.1502	7910159	0	0
Total		32.3594	25.6415	603985729	-39287130	-6.5%

4. Summary

4.1. Key Performance Indicators

The key performance indicators of Cenovus Energy Inc 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	-	-	0.091	0.178	-49%	0.467	-81%	0.216	-58%	0.182	-50%
Book Value Per Share	-	-	11.161	10.739	+4%	9.754	+14%	8.626	+29%	7.064	+58%
Current Ratio	-	-	1.563	1.548	+1%	1.626	-4%	1.368	+14%	1.696	-8%
Debt To Asset Ratio	-	-	0.467	0.478	-2%	0.516	-9%	0.502	-7%	0.522	-10%
Debt To Equity Ratio	-	-	0.878	0.917	-4%	1.076	-18%	1.018	-14%	1.107	-21%
Dividend Per Share	-	-	0.105	0.098	+7%	0.085	+23%	0.052	+104%	0.045	+134%
Eps	-	-	0.289	0.390	-26%	0.583	-51%	0.200	+44%	0.139	+107%
Free Cash Flow Per Share	-	-	0.690	0.300	+130%	0.706	-2%	0.307	+125%	0.176	+293%
Free Cash Flow To Equity Per Share	-	-	0.442	-0.112	+125%	0.004	+12138%	-0.007	+102%	0.069	+537%
Gross Profit Margin	-	-	1.000	1.000	0%	1.000	0%	1.000	0%	1.000	0%
Intrinsic Value_10Y_max	-	-	41.044	-	-	-	-	-	-	-	-
Intrinsic Value_10Y_min	-	-	14.605	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_max	-	-	2.091	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_min	-	-	0.838	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_max	-	-	7.823	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_min	-	-	3.074	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_max	-	-	15.413	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_min	-	-	5.903	-	-	-	-	-	-	-	-
Market Cap	40083632143.360	+22%	31336153845.300	34544773346.325	-9%	35264213250.000	-11%	22978897137.185	+36%	25480429303.441	+23%
Net Profit Margin	-	-	0.057	0.073	-22%	0.087	-35%	0.021	+165%	0.018	+223%
Operating Margin	-	-	0.076	0.103	-27%	0.145	-48%	0.051	+47%	0.014	+427%
Operating Ratio	-	-	0.924	0.901	+3%	0.864	+7%	0.951	-3%	0.988	-6%
Pb Ratio	1.923	+22%	1.492	1.674	-11%	1.813	-18%	1.304	+14%	2.232	-33%
Pe Ratio	18.575	+22%	14.412	13.376	+8%	8.973	+61%	12.296	+17%	11.721	+23%
Price Per Share	21.460	+22%	16.650	17.978	-7%	17.618	-5%	11.774	+41%	13.377	+24%
Price To Free Cash Flow Ratio	7.771	+22%	6.029	4.232	+42%	8.950	-33%	6.487	-7%	10.632	-43%
Price To Total Gains Ratio	109.598	+22%	85.033	19.641	+333%	40.883	+108%	81.696	+4%	55.995	+52%
Quick Ratio	-	-	0.872	0.873	0%	1.010	-14%	0.802	+9%	1.104	-21%
Return On Assets	-	-	0.014	0.019	-27%	0.028	-52%	0.010	+44%	0.005	+153%
Return On Equity	-	-	0.026	0.036	-29%	0.060	-57%	0.019	+33%	0.011	+129%
Total Gains Per Share	-	-	0.196	0.276	-29%	0.552	-65%	0.267	-27%	0.226	-14%
Usd Book Value	-	-	21005699200.000	20630388400.000	+2%	19506650800.000	+8%	16767906200.000	+25%	13521815290.000	+55%
Usd Book Value Change Per Share	-	-	0.091	0.178	-49%	0.467	-81%	0.216	-58%	0.182	-50%
Usd Book Value Per Share	-	-	11.161	10.739	+4%	9.754	+14%	8.626	+29%	7.064	+58%
Usd Dividend Per Share	-	-	0.105	0.098	+7%	0.085	+23%	0.052	+104%	0.045	+134%
Usd Eps	-	-	0.289	0.390	-26%	0.583	-51%	0.200	+44%	0.139	+107%
Usd Free Cash Flow	-	-	1299321600.000	565161000.000	+130%	1407232600.000	-8%	572659900.000	+127%	334359490.000	+289%
Usd Free Cash Flow Per Share	-	-	0.690	0.300	+130%	0.706	-2%	0.307	+125%	0.176	+293%
Usd Free Cash Flow To Equity Per Share	-	-	0.442	-0.112	+125%	0.004	+12138%	-0.007	+102%	0.069	+537%
Usd Market Cap	40083632143.360	+22%	31336153845.300	34544773346.325	-9%	35264213250.000	-11%	22978897137.185	+36%	25480429303.441	+23%
Usd Price Per Share	21.460	+22%	16.650	17.978	-7%	17.618	-5%	11.774	+41%	13.377	+24%
Usd Profit	-	-	543578800.000	751536100.000	-28%	1152635800.000	-53%	395539540.000	+37%	220540820.000	+146%
Usd Revenue	-	-	9608834400.000	9981218800.000	-4%	12745386500.000	-25%	7601543480.000	+26%	5344173390.000	+80%
Usd Total Gains Per Share	-	-	0.196	0.276	-29%	0.552	-65%	0.267	-27%	0.226	-14%
	EOD	+4 -4	MRQ	TTM	+16 -19	YOY	+13 -22	5Y	+28 -7	10Y	+27 -8

4.2. Fundamental Score

Let's check the fundamental score of Cenovus Energy Inc based on Penke's default stock scanner.

Penke's Stock Scanner

Indicator	Condition		Value
Price to Earnings Ratio (EOD)	Between	0-15	18.575
Price to Book Ratio (EOD)	Between	0-1	1.923
Net Profit Margin (MRQ)	Greater than	0	0.057
Operating Margin (MRQ)	Greater than	0	0.076
Quick Ratio (MRQ)	Greater than	1	0.872
Current Ratio (MRQ)	Greater than	1	1.563
Debt to Asset Ratio (MRQ)	Less than	1	0.467
Debt to Equity Ratio (MRQ)	Less than	1	0.878
Return on Equity (MRQ)	Greater than	0.15	0.026
Return on Assets (MRQ)	Greater than	0.05	0.014
Total			5/10 (50.0%)

Create your own Stock Scanner

Investing is personal. The best investors buy stocks based on their own analysis. Create your personal Stock Scanner with the key performance indicators that are important to you.
Create your own Stock Scanner

4.3. Technical Score

Let's check the technical score of Cenovus Energy Inc based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	70.331
Ma 20	Greater than	Ma 50	21.031
Ma 50	Greater than	Ma 100	19.366
Ma 100	Greater than	Ma 200	17.748
Open	Greater than	Close	21.270
Total			3/5 (60.0%)

Create your own Symbol Scanner

Trading is personal. The best traders buy and sell based on their own technical analysis. Create your personal Symbol Scanner with the technical indicators that are important to you.
Create your own Symbol Scanner

Latest Balance Sheet

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

Summary

Total Assets	53,915,000
Total Liabilities	25,203,000
Total Stockholder Equity	28,698,000

	As reported
Total Liabilities	25,203,000
Total Stockholder Equity	+ 28,698,000
Total Assets	= 53,915,000

Assets

Total Assets	53,915,000
Total Current Assets	9,708,000
Long-term Assets	44,207,000

Total Current Assets

Total Current Assets (as reported)	9,708,000
Cash And Cash Equivalents	2,227,000
Net Receivables	3,187,000
Inventory	4,030,000
Other Current Assets	264,000
Total Current Assets (calculated)	9,708,000
+/-	0

Long-term Assets

Long-term Assets (as reported)	44,207,000
Property Plant Equipment	38,930,000
Goodwill	2,923,000
Long Term Investments	558,000
Long-term Assets Other	900,000
Long-term Assets (calculated)	43,311,000
+/-	896,000

Liabilities & Shareholders' Equity

Total Current Liabilities	6,210,000
Long-term Liabilities	18,993,000
Total Stockholder Equity	28,698,000

Total Current Liabilities

Total Current Liabilities (as reported)	6,210,000
Short-term Debt	478,000
Short Long Term Debt	179,000
Accounts payable	5,480,000
Other Current Liabilities	164,000
Total Current Liabilities (calculated)	6,301,000
+/-	91,000

Long-term Liabilities

Long-term Liabilities (as reported)	18,993,000
Long term Debt	7,108,000
Capital Lease Obligations	2,658,000
Long-term Liabilities Other	554,000
Long-term Liabilities (calculated)	10,320,000
+/-	8,673,000

Total Stockholder Equity

Total Stockholder Equity (as reported)	28,698,000
Common Stock	16,031,000
Retained Earnings	8,913,000
Accumulated Other Comprehensive Income	1,233,000
Other Stockholders Equity	2,002,000
Total Stockholder Equity (calculated)	28,179,000
+/-	519,000

Other

Capital Stock	16,550,000
Cash and Short Term Investments	2,227,000
Common Stock Shares Outstanding	1,882,051
Current Deferred Revenue	88,000
Liabilities and Stockholders Equity	53,915,000
Net Debt	7,718,000
Net Invested Capital	35,466,000
Net Working Capital	3,498,000
Property Plant and Equipment Gross	65,896,000
Short Long Term Debt Total	9,945,000

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

2007-12-31

> Total Assets

20,987,000
18,466,000
0
0
21,519,999
22,181,000
22,181,000
22,449,000
22,199,000
22,095,000
20,183,000
20,078,000
21,360,000
22,194,000
22,441,000
22,770,000
24,384,000
24,216,000
24,473,000
24,490,000
24,705,000
25,224,000
25,224,000
25,124,000
25,447,000
24,695,000
25,850,000
25,167,000
26,725,000
25,791,000
24,500,000
24,714,000
24,475,000
25,258,000
25,125,000
44,459,000
42,572,000
40,933,000
39,809,000
40,299,000
39,722,000
35,174,000
35,993,000
35,359,000
35,779,000
35,713,000
33,396,000
33,919,000
32,857,000
32,770,000
53,032,000
53,035,000
54,251,000
54,104,000
55,655,000
55,894,000
55,086,000
54,000,000
54,000,000
53,747,000
54,427,000
53,915,000

53,915,000

54,427,000

53,747,000

54,000,000

55,086,000

55,894,000

55,655,000

54,104,000

54,251,000

53,035,000

53,032,000

32,770,000

32,857,000

33,919,000

33,396,000

35,713,000

35,779,000

35,359,000

35,993,000

35,174,000

39,722,000

40,299,000

39,809,000

40,933,000

42,572,000

44,459,000

25,125,000

25,258,000

24,475,000

24,714,000

24,500,000

25,791,000

26,725,000

25,167,000

25,850,000

24,695,000

25,447,000

25,124,000

25,224,000

24,705,000

24,490,000

24,473,000

24,216,000

24,384,000

22,770,000

22,441,000

22,194,000

21,360,000

20,078,000

20,183,000

22,095,000

22,199,000

22,449,000

22,181,000

21,519,999

18,466,000

20,987,000

> Total Current Assets

0
0
0
0
2,391,576
2,942,000
2,942,000
2,870,000
2,992,000
2,775,000
3,030,000
2,986,000
3,641,000
3,911,000
3,758,000
3,655,000
5,067,000
4,579,000
4,876,000
4,728,000
4,893,000
5,610,000
5,610,000
4,617,000
4,644,000
4,195,000
4,776,000
5,367,000
6,940,000
6,473,000
6,033,000
6,230,000
6,212,000
6,822,000
8,857,000
6,794,000
5,209,000
5,008,000
3,928,000
4,566,000
5,909,000
3,195,000
3,378,000
2,927,000
3,256,000
3,284,000
1,656,000
2,650,000
2,667,000
2,976,000
7,211,000
7,905,000
9,539,000
11,988,000
14,584,000
15,321,000
12,263,000
9,999,000
9,999,000
9,950,000
10,745,000
9,708,000

9,708,000

10,745,000

9,950,000

9,999,000

12,263,000

15,321,000

14,584,000

11,988,000

9,539,000

7,905,000

7,211,000

2,976,000

2,667,000

2,650,000

1,656,000

3,284,000

3,256,000

2,927,000

3,378,000

3,195,000

5,909,000

4,566,000

3,928,000

5,008,000

5,209,000

6,794,000

8,857,000

6,822,000

6,212,000

6,230,000

6,033,000

6,473,000

6,940,000

5,367,000

4,776,000

4,195,000

4,644,000

4,617,000

5,610,000

4,893,000

4,728,000

4,876,000

4,579,000

5,067,000

3,655,000

3,758,000

3,911,000

3,641,000

2,986,000

3,030,000

2,775,000

2,992,000

2,870,000

2,942,000

2,391,576

Cash And Cash Equivalents

0
153,000
0
0
154,971
397,000
397,000
409,000
464,000
300,000
379,000
245,000
358,000
495,000
460,000
409,000
1,543,000
1,160,000
978,000
825,000
1,024,000
2,452,000
2,452,000
760,000
1,156,000
883,000
1,804,000
1,590,000
4,401,000
4,105,000
3,883,000
3,780,000
3,850,000
3,720,000
3,548,000
489,000
632,000
610,000
405,000
376,000
1,865,000
781,000
244,000
64,000
437,000
186,000
160,000
152,000
404,000
378,000
873,000
1,055,000
2,010,000
2,873,000
3,399,000
3,693,000
3,494,000
2,049,000
2,049,000
2,167,000
1,262,000
2,227,000

2,227,000

1,262,000

2,167,000

2,049,000

3,494,000

3,693,000

3,399,000

2,873,000

2,010,000

1,055,000

873,000

378,000

404,000

152,000

160,000

186,000

437,000

64,000

244,000

781,000

1,865,000

376,000

405,000

610,000

632,000

489,000

3,548,000

3,720,000

3,850,000

3,780,000

3,883,000

4,105,000

4,401,000

1,590,000

1,804,000

883,000

1,156,000

760,000

2,452,000

1,024,000

825,000

978,000

1,160,000

1,543,000

409,000

460,000

495,000

358,000

245,000

379,000

300,000

464,000

409,000

397,000

154,971

153,000

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
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
96,000
0
0
0
0
0
0
0
0
0

96,000

Net Receivables

0
0
0
0
1,300,498
1,454,000
1,454,000
1,456,000
1,404,000
1,432,000
677,000
1,481,000
1,613,000
1,777,000
1,731,000
1,731,000
2,140,000
1,848,000
2,237,000
2,137,000
2,268,000
1,889,000
1,889,000
2,207,000
1,853,000
1,610,000
1,382,000
1,373,000
1,113,000
1,257,000
1,116,000
1,425,000
1,377,000
1,844,000
1,769,000
1,609,000
1,615,000
1,898,000
1,608,000
2,274,000
1,898,000
1,238,000
1,752,000
1,463,000
1,320,000
1,561,000
835,000
1,400,000
1,151,000
1,388,000
3,507,000
3,639,000
4,063,000
3,892,000
5,994,000
5,848,000
4,413,000
3,687,000
3,687,000
3,531,000
4,667,000
3,187,000

3,187,000

4,667,000

3,531,000

3,687,000

4,413,000

5,848,000

5,994,000

3,892,000

4,063,000

3,639,000

3,507,000

1,388,000

1,151,000

1,400,000

835,000

1,561,000

1,320,000

1,463,000

1,752,000

1,238,000

1,898,000

2,274,000

1,608,000

1,898,000

1,615,000

1,609,000

1,769,000

1,844,000

1,377,000

1,425,000

1,116,000

1,257,000

1,113,000

1,373,000

1,382,000

1,610,000

1,853,000

2,207,000

1,889,000

2,268,000

2,137,000

2,237,000

1,848,000

2,140,000

1,731,000

1,777,000

1,613,000

1,481,000

677,000

1,432,000

1,404,000

1,456,000

1,454,000

1,300,498

Other Current Assets

88,000
681,000
0
0
60,732
246,000
246,000
196,000
262,000
163,000
953,000
128,000
392,000
232,000
258,000
380,000
163,000
283,000
422,000
388,000
124,000
10,000
65,000
3,000
55,000
478,000
340,000
1,113,000
294,000
301,000
176,000
37,000
13,000
21,000
2,308,000
3,560,000
1,840,000
1,111,000
522,000
509,000
505,000
163,000
1,000
15,000
2,000
5,000
6,000
3,000
3,000
121,000
0
0
0
1,304,000
530,000
525,000
111,000
258,000
0
290,000
133,000
264,000

264,000

133,000

290,000

258,000

111,000

525,000

530,000

1,304,000

121,000

3,000

6,000

5,000

2,000

15,000

1,000

163,000

505,000

509,000

522,000

1,111,000

1,840,000

3,560,000

2,308,000

21,000

13,000

37,000

176,000

301,000

294,000

1,113,000

340,000

478,000

55,000

3,000

65,000

10,000

124,000

388,000

422,000

283,000

163,000

380,000

258,000

232,000

392,000

128,000

953,000

163,000

262,000

196,000

246,000

60,732

681,000

88,000

> Long-term Assets

0
0
0
0
19,128,423
19,239,000
19,239,000
19,579,000
19,207,000
19,320,000
17,153,000
17,092,000
17,719,000
18,283,000
18,683,000
19,115,000
19,317,000
19,637,000
19,597,000
19,762,000
19,812,000
19,614,000
19,614,000
20,507,000
20,803,000
20,500,000
21,074,000
19,800,000
19,785,000
19,318,000
18,467,000
18,484,000
18,263,000
18,436,000
16,268,000
37,665,000
37,363,000
35,925,000
35,881,000
35,733,000
33,813,000
31,979,000
32,615,000
32,432,000
32,523,000
32,429,000
31,740,000
31,269,000
30,190,000
29,794,000
45,821,000
45,130,000
44,712,000
42,116,000
41,071,000
40,573,000
42,823,000
44,001,000
44,001,000
43,797,000
43,682,000
44,207,000

44,207,000

43,682,000

43,797,000

44,001,000

42,823,000

40,573,000

41,071,000

42,116,000

44,712,000

45,130,000

45,821,000

29,794,000

30,190,000

31,269,000

31,740,000

32,429,000

32,523,000

32,432,000

32,615,000

31,979,000

33,813,000

35,733,000

35,881,000

35,925,000

37,363,000

37,665,000

16,268,000

18,436,000

18,263,000

18,484,000

18,467,000

19,318,000

19,785,000

19,800,000

21,074,000

20,500,000

20,803,000

20,507,000

19,614,000

19,812,000

19,762,000

19,597,000

19,637,000

19,317,000

19,115,000

18,683,000

18,283,000

17,719,000

17,092,000

17,153,000

19,320,000

19,207,000

19,579,000

19,239,000

19,128,423

Property Plant Equipment

13,321,000
12,260,000
0
0
15,221,693
15,171,000
15,171,000
15,469,000
15,258,000
15,530,000
12,736,000
13,127,000
13,685,000
15,204,000
15,678,000
16,177,000
16,622,000
17,437,000
17,479,000
17,686,000
17,864,000
18,807,000
18,807,000
19,691,000
19,978,000
20,188,000
20,763,000
19,483,000
19,457,000
18,910,000
18,140,000
18,142,000
17,893,000
18,011,000
15,808,000
34,957,000
34,652,000
33,269,000
33,277,000
33,091,000
31,301,000
29,483,000
30,267,000
30,081,000
30,042,000
29,946,000
29,257,000
28,778,000
27,700,000
27,173,000
41,368,000
40,699,000
40,387,000
36,955,000
36,026,000
35,492,000
38,450,000
39,420,000
39,420,000
39,244,000
39,261,000
38,930,000

38,930,000

39,261,000

39,244,000

39,420,000

38,450,000

35,492,000

36,026,000

36,955,000

40,387,000

40,699,000

41,368,000

27,173,000

27,700,000

28,778,000

29,257,000

29,946,000

30,042,000

30,081,000

30,267,000

29,483,000

31,301,000

33,091,000

33,277,000

33,269,000

34,652,000

34,957,000

15,808,000

18,011,000

17,893,000

18,142,000

18,140,000

18,910,000

19,457,000

19,483,000

20,763,000

20,188,000

19,978,000

19,691,000

18,807,000

17,864,000

17,686,000

17,479,000

17,437,000

16,622,000

16,177,000

15,678,000

15,204,000

13,685,000

13,127,000

12,736,000

15,530,000

15,258,000

15,469,000

15,171,000

15,221,693

12,260,000

13,321,000

Goodwill

1,159,000
936,000
0
0
1,146,575
1,146,000
1,146,000
1,146,000
1,146,000
1,146,000
1,132,000
1,132,000
1,132,000
1,132,000
1,132,000
1,132,000
1,132,000
739,000
739,000
739,000
739,000
739,000
739,000
739,000
739,000
242,000
242,000
242,000
242,000
242,000
242,000
242,000
242,000
242,000
242,000
2,349,000
2,339,000
2,272,000
2,272,000
2,272,000
2,272,000
2,272,000
2,272,000
2,272,000
2,272,000
2,272,000
2,272,000
2,272,000
2,272,000
2,272,000
2,984,000
2,984,000
2,984,000
3,473,000
3,473,000
3,473,000
2,923,000
2,923,000
2,923,000
2,923,000
2,923,000
2,923,000

2,923,000

3,473,000

2,984,000

2,272,000

2,339,000

2,349,000

242,000

739,000

1,132,000

1,146,000

1,146,575

936,000

1,159,000

Long Term Investments

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
30,123
0
0
0
30,978
0
0
0
33,235
0
0
0
28,278
5,258
1,543
30,378
31,088
6,195
12,134
24,977
14,981
0
0
41,000
52,000
54,000
53,000
53,000
149,000
583,000
557,000
518,000
441,000
452,000
383,000
416,000
420,000
417,000
421,000
422,000
558,000

558,000

422,000

421,000

417,000

420,000

416,000

383,000

452,000

441,000

518,000

557,000

583,000

149,000

53,000

54,000

52,000

41,000

14,981

24,977

12,134

6,195

31,088

30,378

1,543

5,258

28,278

33,235

30,978

30,123

Intangible Assets

0
936,000
0
0
0
1,095,000
1,128,619
1,076,461
1,113,594
1,149,448
1,166,770
1,175,005
1,077,993
1,110,130
1,142,511
1,113,187
1,152,397
744,810
726,790
704,011
716,780
695,660
668,778
692,531
659,880
208,244
190,731
193,708
181,750
174,843
186,068
187,234
184,325
180,086
181,777
1,811,801
1,869,854
1,811,080
1,759,467
2
0
0
0
0
104,000
101,000
98,000
95,000
91,000
89,000
85,000
83,000
81,000
78,000
76,000
73,000
71,000
16,000
16,000
14,000
11,000
0

11,000

14,000

16,000

71,000

73,000

76,000

78,000

81,000

83,000

85,000

89,000

91,000

95,000

98,000

101,000

104,000

1,759,467

1,811,080

1,869,854

1,811,801

181,777

180,086

184,325

187,234

186,068

174,843

181,750

193,708

190,731

208,244

659,880

692,531

668,778

695,660

716,780

704,011

726,790

744,810

1,152,397

1,113,187

1,142,511

1,110,130

1,077,993

1,175,005

1,166,770

1,149,448

1,113,594

1,076,461

1,128,619

1,095,000

936,000

Long-term Assets Other

0
0
0
0
2,760,156
2,922,000
2,922,000
2,964,000
2,803,000
2,644,000
1,269,000
2,833,000
2,902,000
1,947,000
1,873,000
1,806,000
1,563,000
1,461,000
1,379,000
1,337,000
1,209,000
36,000
68,000
77,000
86,000
34,000
69,000
75,000
86,000
120,000
85,000
100,000
128,000
148,000
218,000
359,000
372,000
347,000
332,000
370,000
240,000
186,000
76,000
79,000
64,000
159,000
59,000
71,000
126,000
75,000
699,000
700,000
710,000
475,000
481,000
476,000
468,000
468,000
468,000
437,000
423,000
900,000

900,000

423,000

437,000

468,000

476,000

481,000

475,000

710,000

700,000

699,000

75,000

126,000

71,000

59,000

159,000

64,000

79,000

76,000

186,000

240,000

370,000

332,000

347,000

372,000

359,000

218,000

148,000

128,000

100,000

85,000

120,000

86,000

75,000

69,000

34,000

86,000

77,000

68,000

36,000

1,209,000

1,337,000

1,379,000

1,461,000

1,563,000

1,806,000

1,873,000

1,947,000

2,902,000

2,833,000

1,269,000

2,644,000

2,803,000

2,964,000

2,922,000

2,760,156

> Total Liabilities

0
10,718,000
0
0
11,907,621
12,280,000
12,280,000
12,394,000
12,040,000
12,073,000
11,868,000
11,247,000
12,056,000
12,788,000
12,740,000
12,799,000
14,320,000
14,410,000
14,642,000
14,584,000
14,599,000
15,278,000
15,278,000
14,696,000
14,704,000
14,509,000
14,721,000
14,072,000
13,712,000
13,400,000
12,526,000
13,037,000
13,044,000
13,668,000
13,408,000
24,758,000
23,139,000
20,952,000
20,428,000
21,296,000
21,098,000
17,706,000
18,574,000
16,309,000
16,552,000
16,512,000
15,662,000
16,608,000
15,825,000
16,063,000
29,403,000
29,395,000
29,867,000
30,496,000
31,029,000
29,607,000
27,312,000
26,035,000
26,035,000
26,455,000
25,600,000
25,203,000

25,203,000

25,600,000

26,455,000

26,035,000

27,312,000

29,607,000

31,029,000

30,496,000

29,867,000

29,395,000

29,403,000

16,063,000

15,825,000

16,608,000

15,662,000

16,512,000

16,552,000

16,309,000

18,574,000

17,706,000

21,098,000

21,296,000

20,428,000

20,952,000

23,139,000

24,758,000

13,408,000

13,668,000

13,044,000

13,037,000

12,526,000

13,400,000

13,712,000

14,072,000

14,721,000

14,509,000

14,704,000

14,696,000

15,278,000

14,599,000

14,584,000

14,642,000

14,410,000

14,320,000

12,799,000

12,740,000

12,788,000

12,056,000

11,247,000

11,868,000

12,073,000

12,040,000

12,394,000

12,280,000

11,907,621

10,718,000

> Total Current Liabilities

3,125,000
1,798,000
0
0
1,922,476
2,225,000
2,225,000
1,974,000
2,163,000
2,485,000
3,164,000
2,527,000
2,750,000
3,388,000
3,450,000
3,083,000
3,409,000
3,270,000
3,567,000
3,463,000
3,663,000
3,779,000
3,779,000
3,708,000
3,296,000
2,957,000
2,426,000
2,335,000
1,940,000
1,858,000
1,852,000
2,155,000
2,003,000
2,671,000
2,902,000
4,714,000
3,706,000
4,436,000
3,518,000
3,916,000
4,692,000
2,600,000
3,070,000
2,870,000
2,909,000
2,521,000
2,335,000
2,160,000
1,936,000
2,359,000
5,311,000
6,596,000
7,112,000
7,305,000
9,140,000
8,865,000
7,934,000
6,118,000
6,118,000
6,624,000
7,205,000
6,210,000

6,210,000

7,205,000

6,624,000

6,118,000

7,934,000

8,865,000

9,140,000

7,305,000

7,112,000

6,596,000

5,311,000

2,359,000

1,936,000

2,160,000

2,335,000

2,521,000

2,909,000

2,870,000

3,070,000

2,600,000

4,692,000

3,916,000

3,518,000

4,436,000

3,706,000

4,714,000

2,902,000

2,671,000

2,003,000

2,155,000

1,852,000

1,858,000

1,940,000

2,335,000

2,426,000

2,957,000

3,296,000

3,708,000

3,779,000

3,663,000

3,463,000

3,567,000

3,270,000

3,409,000

3,083,000

3,450,000

3,388,000

2,750,000

2,527,000

3,164,000

2,485,000

2,163,000

1,974,000

2,225,000

1,922,476

1,798,000

3,125,000

Short-term Debt

0
0
0
0
0
0
0
0
0
250,000
250,000
86,000
14,000
270,000
270,000
209,000
0
0
0
0
0
439,000
439,000
152,000
133,000
4,696,670
0
0
0
4,714,255
0
0
0
4,749,219
4,714,940
893,000
9,668,239
7,583,101
7,574,537
7
1,036,000
682,000
798,000
803,000
831,000
196,000
809,000
497,000
333,000
305,000
553,000
977,000
879,000
351,000
321,000
274,000
297,000
299,000
299,000
274,000
329,000
478,000

478,000

329,000

274,000

299,000

297,000

274,000

321,000

351,000

879,000

977,000

553,000

305,000

333,000

497,000

809,000

196,000

831,000

803,000

798,000

682,000

1,036,000

7,574,537

7,583,101

9,668,239

893,000

4,714,940

4,749,219

4,714,255

4,696,670

133,000

152,000

439,000

209,000

270,000

14,000

86,000

250,000

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
6,139,509
0
0
0
4,696,670
0
0
0
4,714,255
0
0
0
4,749,219
4,714,940
10,345,546
9,668,239
7,583,101
7,574,537
7
808,617
268,864
668,000
654,000
662,000
0
602,000
299,000
137,000
121,000
266,000
697,000
593,000
79,000
62,000
0
0
115,000
0
0
14,000
179,000

179,000

14,000

115,000

62,000

79,000

593,000

697,000

266,000

121,000

137,000

299,000

602,000

662,000

654,000

668,000

268,864

808,617

7,574,537

7,583,101

9,668,239

10,345,546

4,714,940

4,749,219

4,714,255

4,696,670

6,139,509

Accounts payable

1,813,000
1,114,000
0
0
1,852,320
1,852,320
1,795,352
1,547,000
2,042,000
2,168,000
65,000
2,124,000
2,458,000
2,951,000
2,881,000
2,287,000
3,136,000
2,650,000
2,841,000
2,733,000
2,963,000
2,937,000
2,937,000
3,154,000
2,787,000
2,588,000
2,134,000
1,992,000
1,799,000
1,702,000
1,700,000
1,927,000
1,809,000
2,266,000
2,072,000
2,188,000
2,009,000
2,635,000
2,336,000
2,713,000
2,712,000
1,833,000
1,998,000
1,967,000
1,978,000
2,210,000
1,467,000
1,463,000
1,549,000
608,000
4,502,000
5,188,000
5,735,000
6,353,000
8,122,000
7,487,000
6,250,000
5,427,000
5,427,000
6,040,000
6,435,000
5,480,000

5,480,000

6,435,000

6,040,000

5,427,000

6,250,000

7,487,000

8,122,000

6,353,000

5,735,000

5,188,000

4,502,000

608,000

1,549,000

1,463,000

1,467,000

2,210,000

1,978,000

1,967,000

1,998,000

1,833,000

2,712,000

2,713,000

2,336,000

2,635,000

2,009,000

2,188,000

2,072,000

2,266,000

1,809,000

1,927,000

1,700,000

1,702,000

1,799,000

1,992,000

2,134,000

2,588,000

2,787,000

3,154,000

2,937,000

2,963,000

2,733,000

2,841,000

2,650,000

3,136,000

2,287,000

2,881,000

2,951,000

2,458,000

2,124,000

65,000

2,168,000

2,042,000

1,547,000

1,795,352

1,852,320

1,114,000

1,813,000

Other Current Liabilities

174,000
40,000
0
0
70,156
2,225,000
2,225,000
427,000
121,000
317,000
1,202,000
317,000
278,000
437,000
87,000
587,000
273,000
620,000
726,000
730,000
700,000
842,000
842,000
402,000
376,000
369,000
292,000
343,000
141,000
156,000
152,000
228,000
194,000
405,000
830,000
1,633,000
1,697,000
1,801,000
1,182,000
1,203,000
944,000
85,000
242,000
100,000
100,000
115,000
28,000
200,000
54,000
1,446,000
256,000
431,000
498,000
601,000
697,000
119,000
1,387,000
392,000
392,000
262,000
295,000
164,000

164,000

295,000

262,000

392,000

1,387,000

119,000

697,000

601,000

498,000

431,000

256,000

1,446,000

54,000

200,000

28,000

115,000

100,000

242,000

85,000

944,000

1,203,000

1,182,000

1,801,000

1,697,000

1,633,000

830,000

405,000

194,000

228,000

152,000

156,000

141,000

343,000

292,000

369,000

376,000

402,000

842,000

700,000

730,000

726,000

620,000

273,000

587,000

87,000

437,000

278,000

317,000

1,202,000

317,000

121,000

427,000

2,225,000

70,156

40,000

174,000

> Long-term Liabilities

0
0
0
0
9,985,146
10,055,000
10,055,000
10,420,000
9,877,000
9,588,000
8,704,000
8,720,000
9,306,000
9,400,000
9,290,000
9,716,000
10,911,000
11,140,000
11,075,000
11,121,000
10,936,000
11,499,000
11,499,000
10,988,000
11,408,000
11,552,000
12,295,000
11,737,000
11,772,000
11,542,000
10,674,000
10,882,000
11,041,000
10,997,000
10,506,000
20,044,000
19,433,000
16,516,000
16,910,000
17,380,000
16,406,000
15,106,000
15,504,000
13,439,000
13,643,000
13,991,000
13,327,000
14,448,000
13,889,000
13,704,000
24,092,000
22,799,000
22,755,000
23,191,000
21,889,000
20,742,000
19,378,000
19,917,000
19,917,000
19,831,000
18,395,000
18,993,000

18,993,000

18,395,000

19,831,000

19,917,000

19,378,000

20,742,000

21,889,000

23,191,000

22,755,000

22,799,000

24,092,000

13,704,000

13,889,000

14,448,000

13,327,000

13,991,000

13,643,000

13,439,000

15,504,000

15,106,000

16,406,000

17,380,000

16,910,000

16,516,000

19,433,000

20,044,000

10,506,000

10,997,000

11,041,000

10,882,000

10,674,000

11,542,000

11,772,000

11,737,000

12,295,000

11,552,000

11,408,000

10,988,000

11,499,000

10,936,000

11,121,000

11,075,000

11,140,000

10,911,000

9,716,000

9,290,000

9,400,000

9,306,000

8,720,000

8,704,000

9,588,000

9,877,000

10,420,000

10,055,000

9,985,146

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
4,560,337
22,407
7,895,000
8,087,000
8,419,000
8,701,000
9,750,000
9,434,000
9,014,000
16,832,000
15,555,000
15,230,000
15,070,000
14,391,000
13,820,000
11,346,000
11,219,000
11,197,000
11,034,000
9,642,000
0

9,642,000

11,034,000

11,197,000

11,219,000

11,346,000

13,820,000

14,391,000

15,070,000

15,230,000

15,555,000

16,832,000

9,014,000

9,434,000

9,750,000

8,701,000

8,419,000

8,087,000

7,895,000

22,407

4,560,337

Capital Lease Obligations Min Short Term Debt

0
0
0
0
0
0
0
0
0
-250,000
-250,000
-86,000
-14,000
-270,000
-270,000
-209,000
0
0
0
0
0
-439,000
-439,000
-152,000
-133,000
-4,696,670
0
0
0
-4,714,255
0
0
0
-4,749,219
-4,714,940
-893,000
-9,668,239
-7,583,101
-7,574,537
-7
-1,036,000
-682,000
669,000
743,000
848,000
1,720,000
1,120,000
1,366,000
1,500,000
1,452,000
2,619,000
2,110,000
2,196,000
2,606,000
2,585,000
2,592,000
2,572,000
2,537,000
2,516,000
2,500,000
2,404,000
2,180,000

2,180,000

2,404,000

2,500,000

2,516,000

2,537,000

2,572,000

2,592,000

2,585,000

2,606,000

2,196,000

2,110,000

2,619,000

1,452,000

1,500,000

1,366,000

1,120,000

1,720,000

848,000

743,000

669,000

-682,000

-1,036,000

-7

-7,574,537

-7,583,101

-9,668,239

-893,000

-4,714,940

-4,749,219

-4,714,255

-4,696,670

-133,000

-152,000

-439,000

-209,000

-270,000

-14,000

-86,000

-250,000

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
249,000
165,000
103,000
83,000
33,000
73,000
49,000
45,000
113,000
88,000
96,000
112,000
134,000
99,000
337,000
377,000
351,000
461,000
556,000
554,000

554,000

556,000

461,000

351,000

377,000

337,000

99,000

134,000

112,000

96,000

88,000

113,000

45,000

49,000

73,000

33,000

83,000

103,000

165,000

249,000

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
2,455,899
0
0
0
1,468,102
0
0
0
1,446,644
0
0
0
3,583,898
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

3,583,898

1,446,644

1,468,102

2,455,899

> Total Stockholder Equity

0
7,748,000
0
0
9,612,378
9,901,000
9,901,000
10,055,000
10,159,000
10,022,000
8,315,000
8,831,000
9,304,000
9,406,000
9,701,000
9,971,000
10,064,000
9,806,000
9,831,000
9,906,000
10,106,000
9,946,000
9,946,000
10,428,000
10,743,000
10,186,000
11,129,000
11,095,000
13,013,000
12,391,000
11,974,000
11,677,000
11,431,000
11,590,000
11,717,000
19,701,000
19,433,000
19,981,000
19,381,000
19,003,000
18,624,000
17,468,000
17,419,000
19,050,000
19,227,000
19,201,000
17,734,000
17,311,000
17,032,000
16,707,000
23,618,000
23,629,000
24,373,000
23,596,000
24,614,000
26,275,000
27,762,000
27,952,000
27,952,000
27,279,000
28,814,000
28,698,000

28,698,000

28,814,000

27,279,000

27,952,000

27,762,000

26,275,000

24,614,000

23,596,000

24,373,000

23,629,000

23,618,000

16,707,000

17,032,000

17,311,000

17,734,000

19,201,000

19,227,000

19,050,000

17,419,000

17,468,000

18,624,000

19,003,000

19,381,000

19,981,000

19,433,000

19,701,000

11,717,000

11,590,000

11,431,000

11,677,000

11,974,000

12,391,000

13,013,000

11,095,000

11,129,000

10,186,000

10,743,000

10,428,000

9,946,000

10,106,000

9,906,000

9,831,000

9,806,000

10,064,000

9,971,000

9,701,000

9,406,000

9,304,000

8,831,000

8,315,000

10,022,000

10,159,000

10,055,000

9,901,000

9,612,378

7,748,000

Common Stock

0
0
0
0
0
2,223,000
3,631,081
3,690,000
3,588,573
3,758,000
3,758,000
3,911,148
3,594,896
3,706,973
3,857,489
3,760,448
3,895,958
3,829,000
3,846,000
3,847,000
3,851,000
3,857,000
3,857,000
3,887,000
3,889,000
3,889,000
5,436,000
5,534,000
5,534,000
5,534,000
5,534,000
5,534,000
5,534,000
5,534,000
5,534,000
11,040,000
11,040,000
11,040,000
11,040,000
11,040,000
11,040,000
11,040,000
11,040,000
11,040,000
11,040,000
11,040,000
11,040,000
11,040,000
11,040,000
11,040,000
17,152,000
17,153,000
17,152,000
17,016,000
16,874,000
16,653,000
16,431,000
16,317,000
16,317,000
16,226,000
16,146,000
16,031,000

16,031,000

16,146,000

16,226,000

16,317,000

16,431,000

16,653,000

16,874,000

17,016,000

17,152,000

17,153,000

17,152,000

11,040,000

5,534,000

5,436,000

3,889,000

3,887,000

3,857,000

3,851,000

3,847,000

3,846,000

3,829,000

3,895,958

3,760,448

3,857,489

3,706,973

3,594,896

3,911,148

3,758,000

3,588,573

3,690,000

3,631,081

2,223,000

Retained Earnings Total Equity

Accumulated Other Comprehensive Income

0
0
0
0
2,269,066
-102,000
-102,000
27,000
55,000
48,000
48,000
44,000
144,000
119,000
98,000
128,000
83,000
95,000
98,000
158,000
150,000
210,000
210,000
164,000
307,000
407,000
678,000
634,000
875,000
1,020,000
757,000
764,000
805,000
910,000
864,000
759,000
620,000
643,000
756,000
855,000
777,000
1,038,000
938,000
844,000
892,000
827,000
1,230,000
1,039,000
952,000
775,000
658,000
485,000
720,000
684,000
564,000
913,000
1,640,000
1,448,000
1,448,000
1,181,000
1,454,000
1,233,000

1,233,000

1,454,000

1,181,000

1,448,000

1,640,000

913,000

564,000

684,000

720,000

485,000

658,000

775,000

952,000

1,039,000

1,230,000

827,000

892,000

844,000

938,000

1,038,000

777,000

855,000

756,000

643,000

620,000

759,000

864,000

910,000

805,000

764,000

757,000

1,020,000

875,000

634,000

678,000

407,000

307,000

164,000

210,000

150,000

158,000

98,000

95,000

83,000

128,000

98,000

119,000

144,000

44,000

48,000

55,000

27,000

-102,000

2,269,066

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
2,347,912
10,815
4,372,000
4,374,000
4,377,000
4,381,000
4,384,000
4,386,000
4,391,000
4,396,000
4,399,000
4,402,000
4,284,000
4,022,000
3,354,000
2,945,000
2,691,000
2,666,000
2,476,000
2,229,000
0

2,229,000

2,476,000

2,666,000

2,691,000

2,945,000

3,354,000

4,022,000

4,284,000

4,402,000

4,399,000

4,396,000

4,391,000

4,386,000

4,384,000

4,381,000

4,377,000

4,374,000

4,372,000

10,815

2,347,912

Treasury Stock

Other Stockholders Equity

0
0
0
0
7,302,475
9,583,000
9,583,000
5,896,000
9,589,000
4,088,000
7,846,000
7,862,000
7,875,000
7,887,000
7,943,000
7,953,000
7,968,000
4,154,000
4,170,000
4,188,000
4,204,000
4,219,000
4,219,000
4,258,000
4,275,000
4,291,000
4,306,000
4,315,000
4,324,000
4,330,000
4,335,000
4,340,000
4,345,000
4,350,000
4,353,000
4,357,000
4,359,000
4,361,000
4,362,000
4,365,000
4,366,000
4,367,000
4,369,000
4,372,000
4,374,000
4,377,000
4,381,000
4,384,000
4,386,000
4,391,000
9,224,000
9,230,000
9,236,000
8,998,000
4,232,000
3,548,000
3,135,000
2,849,000
2,849,000
2,504,000
2,255,000
2,002,000

2,002,000

2,255,000

2,504,000

2,849,000

3,135,000

3,548,000

4,232,000

8,998,000

9,236,000

9,230,000

9,224,000

4,391,000

4,386,000

4,384,000

4,381,000

4,377,000

4,374,000

4,372,000

4,369,000

4,367,000

4,366,000

4,365,000

4,362,000

4,361,000

4,359,000

4,357,000

4,353,000

4,350,000

4,345,000

4,340,000

4,335,000

4,330,000

4,324,000

4,315,000

4,306,000

4,291,000

4,275,000

4,258,000

4,219,000

4,204,000

4,188,000

4,170,000

4,154,000

7,968,000

7,953,000

7,943,000

7,887,000

7,875,000

7,862,000

7,846,000

4,088,000

9,589,000

5,896,000

9,583,000

7,302,475

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
Accounts Payable	1,075,000	6,124,000	6,353,000	608,000	2,210,000	1,833,000	2,635,000	2,266,000	1,702,000	2,588,000	2,937,000	2,650,000	2,951,000	2,168,000	1,852,320	1,728,140
Accumulated Amortization	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
Accumulated Other Comprehensive Income	1,233,000	1,470,000	684,000	775,000	827,000	1,038,000	643,000	910,000	1,020,000	407,000	210,000	95,000	119,000	-13,490,000	2,269,066	228,796
Additional Paid In Capital	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	2,658,000	2,836,000	2,957,000	1,757,000	1,916,000	0	0	0	0	0	0	0	0	0	0	0
Capital Stock	16,550,000	16,839,000	17,535,000	11,040,000	11,040,000	11,040,000	0	0	0	0	0	0	0	0	0	0
Capital Surpluse	0	2,691,000	4,284,000	4,391,000	4,377,000	4,367,000	4,361,000	4,350,000	4,330,000	0	0	0	0	0	0	0
Cash	2,227,000	4,524,000	2,873,000	378,000	186,000	781,000	610,000	3,720,000	4,105,000	883,000	2,452,000	1,160,000	495,000	300,000	154,971	186,201
Cash And Equivalents	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash And Short Term Investments	2,227,000	4,524,000	2,873,000	378,000	186,000	781,000	610,000	3,720,000	4,105,000	883,000	2,452,000	1,160,000	495,000	300,000	154,971	186,201
Common Stock	16,031,000	16,320,000	17,016,000	11,040,000	11,040,000	11,040,000	11,040,000	5,534,000	5,534,000	3,889,000	3,857,000	3,829,000	3,706,973	3,727,182	2,223,000	0
Common Stock Shares Outstanding	1,925,440	2,006,100	2,045,100	1,228,900	1,229,400	1,229,200	1,102,500	833,300	818,700	757,600	757,500	758,500	757,700	754,000	751,400	751,800
Common Stock Total Equity	0	0	0	11,040,000	11,040,000	11,040,000	11,040,000	5,534,000	5,534,000	3,889,000	3,857,000	3,829,000	0	0	0	0
Current Deferred Revenue	88,000	0	179,000	1,410,000	34,000	17,000	0	0	0	0	0	0	0	0	0	309,118
Deferred Long Term Asset Charges	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	2,455,899	0	0	0	0	0	0
Earning Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Good Will	2,923,000	2,923,000	3,473,000	2,272,000	2,272,000	2,272,000	2,272,000	242,000	242,000	242,000	739,000	739,000	1,132,000	1,146,000	1,146,575	1,139,112
Intangible Assets	0	19,000	78,000	89,000	101,000	0	0	0	0	208,244	695,660	744,810	1,110,130	1,149,448	1,095,000	936,000
Inventory	4,030,000	4,312,000	3,919,000	1,089,000	1,532,000	1,013,000	1,389,000	1,237,000	810,000	1,224,000	1,259,000	1,288,000	1,291,000	880,000	875,376	612,151
Liabilities And Stockholders Equity	53,915,000	55,869,000	54,104,000	32,770,000	35,713,000	35,174,000	40,933,000	25,258,000	25,791,000	24,695,000	25,224,000	24,216,000	22,194,000	22,095,000	21,519,999	22,473,122
Long Term Debt	7,108,000	8,691,000	12,385,000	7,441,000	6,699,000	8,482,000	9,513,000	6,332,000	6,525,000	4,696,670	5,727,196	6,152,993	5,276,062	5,624,875	6,025,000	5,809,000
Long Term Debt Total	0	11,219,000	15,070,000	9,014,000	8,419,000	8,482,000	9,513,000	6,332,000	6,525,000	0	0	0	0	0	0	0
Long Term Investments	558,000	420,000	441,000	149,000	52,000	38,000	37,000	35,000	17,348	30,978	30,123	0	0	0	0	0
Negative Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Debt	7,718,000	7,118,000	12,548,000	8,941,000	8,429,000	8,383,000	8,903,000	2,612,000	2,420,000	4,575,000	2,545,000	3,519,000	4,885,000	5,308,000	6,153,807	6,985,580
Net Invested Capital	35,466,000	35,863,000	35,541,000	24,269,000	25,900,000	26,632,000	29,494,000	0	0	0	0	0	0	0	0	0
Net Receivables	3,187,000	3,594,000	3,892,000	1,388,000	1,561,000	1,238,000	1,898,000	1,844,000	1,257,000	1,610,000	1,889,000	1,848,000	1,777,000	1,432,000	1,300,498	1,108,687
Net Tangible Assets	0	24,115,000	19,526,000	14,346,000	16,828,000	15,196,000	17,709,000	11,348,000	4,581,821	8,556,923	8,667,043	0	0	0	0	0
Net Working Capital	3,498,000	4,409,000	4,683,000	617,000	763,000	595,000	572,000	4,151,000	4,615,000	1,238,000	1,831,000	1,309,000	523,000	290,000	469,101	547,650
Non Current Assets Total	44,207,000	43,439,000	42,116,000	29,794,000	32,429,000	31,979,000	35,925,000	18,436,000	19,318,000	20,500,000	19,614,000	19,637,000	18,283,000	19,320,000	19,128,423	19,737,306
Non Current Liabilities Other	554,000	377,000	112,000	45,000	83,000	159,000	199,000	33,000	0	0	0	0	0	0	0	0
Non Current Liabilities Total	18,993,000	20,259,000	23,191,000	13,704,000	13,991,000	15,106,000	16,516,000	10,997,000	11,542,000	11,552,000	11,499,000	11,140,000	9,400,000	9,588,000	9,985,146	10,855,640
Non Currrent Assets Other	900,000	502,000	475,000	75,000	211,000	64,000	71,000	56,000	76,000	70,000	68,000	1,461,000	1,947,000	2,644,000	2,760,156	3,677,774
Noncontrolling Interest In Consolidated Entity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Assets	0	841,000	1,169,000	111,000	58,000	224,000	345,000	145,000	29,000	23,234	23,534	41,322	76,493	500,502	132,000	188,000
Other Current Assets	264,000	402,000	1,304,000	121,000	5,000	208,000	1,175,000	148,000	372,000	534,000	65,000	328,000	232,000	163,000	60,732	828,777
Other Current Liab	4,569,000	1,474,000	422,000	36,000	81,000	68,000	1,801,000	405,000	156,000	369,000	842,000	620,000	437,000	317,000	70,156	48,680
Other Liab	0	9,040,000	8,121,000	4,690,000	5,572,000	6,624,000	7,003,000	4,665,000	1,892,090	2,402,547	2,403,276	2,486,394	1,881,926	1,580,742	1,154,000	700,000
Other Stockholder Equity	2,002,000	2,875,000	4,499,000	4,391,000	4,377,000	4,367,000	4,361,000	4,350,000	4,330,000	4,291,000	4,219,000	4,154,000	7,887,000	23,512,000	7,302,475	9,200,520
Preferred Stock Redeemable	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
Property Plant And Equipment Gross	65,896,000	61,111,000	54,277,000	27,173,000	29,946,000	29,483,000	33,269,000	18,011,000	18,910,000	20,188,000	18,807,000	17,437,000	15,204,000	15,530,000	15,221,693	14,920,420
Property Plant And Equipment Net	38,930,000	39,029,000	36,955,000	27,173,000	29,946,000	29,483,000	33,269,000	18,011,000	18,910,000	20,188,000	18,807,000	17,437,000	15,204,000	15,530,000	15,221,693	14,920,420
Property Plant Equipment	0	39,029,000	36,955,000	27,173,000	29,946,000	29,483,000	33,269,000	18,011,000	18,910,000	17,371,999	17,704,038	17,574,078	14,910,268	15,576,730	14,537,000	12,260,000
Retained Earnings	8,913,000	6,392,000	878,000	501,000	2,957,000	1,023,000	3,937,000	796,000	1,507,000	1,599,000	1,660,000	1,728,000	1,400,000	411,234	40,837	0
Retained Earnings Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt	179,000	115,000	79,000	121,000	0	682,000	0	0	0	4,696,670	6,139,509	0	0	0	0	0
Short Long Term Debt Total	9,945,000	11,642,000	15,421,000	9,319,000	8,615,000	9,164,000	9,513,000	6,332,000	6,525,000	5,458,000	4,997,000	4,679,000	5,380,000	5,608,000	6,308,778	7,171,781
Short Term Debt	478,000	423,000	351,000	305,000	196,000	682,000	0	0	0	4,696,670	6,139,509	0	0	0	0	102,228
Short Term Investments	0	1,329,000	507,000	10,000	78,000	626,000	63,000	3,178,000	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
Total Assets	53,915,000	55,869,000	54,104,000	32,770,000	35,713,000	35,174,000	40,933,000	25,258,000	25,791,000	24,695,000	25,224,000	24,216,000	22,194,000	22,095,000	21,519,999	22,473,122
Total Current Assets	9,708,000	12,430,000	11,988,000	2,976,000	3,284,000	3,195,000	5,008,000	6,822,000	6,473,000	4,195,000	5,610,000	4,579,000	3,911,000	2,775,000	2,391,576	2,735,816
Total Current Liabilities	6,210,000	8,021,000	7,305,000	2,359,000	2,521,000	2,600,000	4,436,000	2,671,000	1,858,000	2,957,000	3,779,000	3,270,000	3,388,000	2,485,000	1,922,476	2,188,166
Total Liab	25,203,000	28,280,000	30,496,000	16,063,000	16,512,000	17,706,000	20,952,000	13,668,000	13,400,000	14,509,000	15,278,000	14,410,000	12,788,000	12,073,000	11,907,621	13,043,806
Total Permanent Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Stockholder Equity	28,698,000	27,576,000	23,596,000	16,707,000	19,201,000	17,468,000	19,981,000	11,590,000	12,391,000	10,186,000	9,946,000	9,806,000	9,406,000	10,022,000	9,612,378	9,429,316
Treasury Stock	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

	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	2007-12-31
Accounts Payable	5,480,000	6,435,000	6,040,000	5,427,000	5,427,000	6,250,000	7,487,000	8,122,000	6,353,000	5,735,000	5,188,000	4,502,000	608,000	1,549,000	1,463,000	1,467,000	2,210,000	1,978,000	1,967,000	1,998,000	1,833,000	2,712,000	2,713,000	2,336,000	2,635,000	2,009,000	2,188,000	2,072,000	2,266,000	1,809,000	1,927,000	1,700,000	1,702,000	1,799,000	1,992,000	2,134,000	2,588,000	2,787,000	3,154,000	2,937,000	2,937,000	2,963,000	2,733,000	2,841,000	2,650,000	3,136,000	2,287,000	2,881,000	2,951,000	2,458,000	2,124,000	65,000	2,168,000	2,042,000	1,547,000	1,795,352	1,852,320	1,852,320	0	0	1,114,000	1,813,000
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
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
Accumulated Other Comprehensive Income	1,233,000	1,454,000	1,181,000	1,448,000	1,448,000	1,640,000	913,000	564,000	684,000	720,000	485,000	658,000	775,000	952,000	1,039,000	1,230,000	827,000	892,000	844,000	938,000	1,038,000	777,000	855,000	756,000	643,000	620,000	759,000	864,000	910,000	805,000	764,000	757,000	1,020,000	875,000	634,000	678,000	407,000	307,000	164,000	210,000	210,000	150,000	158,000	98,000	95,000	83,000	128,000	98,000	119,000	144,000	44,000	48,000	48,000	55,000	27,000	-102,000	-102,000	2,269,066	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
Capital Lease Obligations	2,658,000	2,733,000	2,774,000	2,815,000	2,836,000	2,869,000	2,866,000	2,906,000	2,957,000	3,075,000	3,087,000	3,172,000	1,757,000	1,833,000	1,863,000	1,929,000	1,916,000	1,679,000	1,546,000	1,467,000	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
Capital Stock	16,550,000	16,665,000	16,745,000	16,836,000	16,839,000	16,950,000	17,172,000	17,393,000	17,535,000	17,671,000	17,672,000	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
Capital Surpluse	0	2,229,000	2,476,000	2,666,000	2,691,000	2,945,000	3,354,000	4,022,000	4,284,000	4,402,000	4,399,000	4,396,000	4,391,000	4,386,000	4,384,000	4,381,000	4,377,000	4,374,000	4,372,000	10,815	2,347,912	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	2,227,000	1,262,000	2,167,000	2,049,000	2,049,000	3,494,000	3,693,000	3,399,000	2,873,000	2,010,000	1,055,000	873,000	378,000	404,000	152,000	160,000	186,000	437,000	64,000	244,000	781,000	1,865,000	376,000	405,000	610,000	632,000	489,000	3,548,000	3,720,000	3,850,000	3,780,000	3,883,000	4,105,000	4,401,000	1,590,000	1,804,000	883,000	1,156,000	760,000	2,452,000	2,452,000	1,024,000	825,000	978,000	1,160,000	1,543,000	409,000	460,000	495,000	358,000	245,000	379,000	300,000	464,000	409,000	397,000	397,000	154,971	0	0	153,000	0
Cash And Equivalents	0	1,262,000	2,167,000	2,049,000	4,524,000	3,494,000	3,693,000	3,399,000	2,873,000	2,010,000	1,055,000	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
Cash And Short Term Investments	2,227,000	1,262,000	2,167,000	2,049,000	2,049,000	3,494,000	3,693,000	3,399,000	2,873,000	2,106,000	1,055,000	873,000	378,000	404,000	152,000	160,000	186,000	437,000	64,000	244,000	781,000	1,865,000	376,000	405,000	610,000	632,000	489,000	3,548,000	3,720,000	3,850,000	3,780,000	3,883,000	4,105,000	4,401,000	1,590,000	1,804,000	883,000	1,156,000	760,000	2,452,000	2,452,000	1,024,000	825,000	978,000	1,160,000	1,543,000	409,000	460,000	495,000	358,000	245,000	379,000	300,000	464,000	409,000	397,000	397,000	154,971	0	0	0	0
Common Stock	16,031,000	16,146,000	16,226,000	16,317,000	16,317,000	16,431,000	16,653,000	16,874,000	17,016,000	17,152,000	17,153,000	17,152,000	11,040,000	11,040,000	11,040,000	11,040,000	11,040,000	11,040,000	11,040,000	11,040,000	11,040,000	11,040,000	11,040,000	11,040,000	11,040,000	11,040,000	11,040,000	5,534,000	5,534,000	5,534,000	5,534,000	5,534,000	5,534,000	5,534,000	5,534,000	5,436,000	3,889,000	3,889,000	3,887,000	3,857,000	3,857,000	3,851,000	3,847,000	3,846,000	3,829,000	3,895,958	3,760,448	3,857,489	3,706,973	3,594,896	3,911,148	3,758,000	3,758,000	3,588,573	3,690,000	3,631,081	2,223,000	0	0	0	0	0
Common Stock Shares Outstanding	1,882,051	1,905,097	1,943,000	1,958,000	1,958,000	1,978,700	2,029,400	2,042,000	2,012,300	2,043,500	2,042,100	2,034,700	1,228,900	1,228,900	1,228,900	1,228,900	1,229,400	1,229,400	1,229,400	1,229,100	1,228,900	1,229,300	1,229,300	1,228,800	1,228,800	1,228,800	1,113,300	833,300	833,300	833,300	833,300	833,300	833,300	833,300	828,600	778,900	757,100	758,800	758,000	757,200	757,200	757,200	757,100	758,400	758,300	758,000	757,900	759,500	757,100	757,800	758,000	758,100	753,200	753,800	753,800	752,400	751,500	751,400	751,400	751,400	751,000	0
Common Stock Total Equity	0	0	0	0	0	0	0	0	0	0	17,153,000	17,152,000	11,040,000	11,040,000	11,040,000	11,040,000	11,040,000	11,040,000	11,040,000	11,040,000	11,040,000	11,040,000	11,040,000	11,040,000	11,040,000	11,040,000	11,040,000	5,534,000	5,534,000	5,534,000	5,534,000	5,534,000	5,534,000	5,534,000	5,534,000	5,436,000	3,889,000	3,889,000	3,887,000	3,857,000	3,857,000	3,851,000	3,847,000	3,846,000	3,829,000	0	0	0	0	0	0	0	0	0	3,690,000	0	0	0	0	0	0	0
Current Deferred Revenue	88,000	146,000	48,000	0	0	0	985,000	0	179,000	106,000	55,000	58,000	1,410,000	28,000	31,000	31,000	34,000	33,000	33,000	32,000	67,000	74,000	0	0	0	0	138,000	0	0	0	0	0	0	0	0	0	0	363,000	289,000	351,000	351,000	0	0	0	0	0	564,000	212,000	212,000	263,000	224,000	1,647,000	1,647,000	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
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	0	3,583,898	0	0	0	1,446,644	0	0	0	1,468,102	0	0	0	2,455,899	0	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
Good Will	2,923,000	2,923,000	2,923,000	2,923,000	2,923,000	2,923,000	3,473,000	3,473,000	3,473,000	2,984,000	2,984,000	2,984,000	2,272,000	2,272,000	2,272,000	2,272,000	2,272,000	2,272,000	2,272,000	2,272,000	2,272,000	2,272,000	2,272,000	2,272,000	2,272,000	2,339,000	2,349,000	242,000	242,000	242,000	242,000	242,000	242,000	242,000	242,000	242,000	242,000	739,000	739,000	739,000	739,000	739,000	739,000	739,000	739,000	1,132,000	1,132,000	1,132,000	1,132,000	1,132,000	1,132,000	1,132,000	1,146,000	1,146,000	1,146,000	1,146,000	1,146,000	1,146,575	0	0	936,000	1,159,000
Intangible Assets	0	11,000	14,000	16,000	16,000	71,000	73,000	76,000	78,000	81,000	83,000	85,000	89,000	91,000	95,000	98,000	101,000	104,000	0	0	0	0	2	1,759,467	1,811,080	1,869,854	1,811,801	181,777	180,086	184,325	187,234	186,068	174,843	181,750	193,708	190,731	208,244	659,880	692,531	668,778	695,660	716,780	704,011	726,790	744,810	1,152,397	1,113,187	1,142,511	1,110,130	1,077,993	1,175,005	1,166,770	1,149,448	1,113,594	1,076,461	1,128,619	1,095,000	0	0	0	936,000	0
Inventory	4,030,000	4,816,000	4,252,000	4,263,000	4,263,000	4,356,000	5,255,000	4,661,000	3,919,000	3,370,000	3,211,000	2,831,000	1,089,000	1,109,000	1,095,000	655,000	1,532,000	1,497,000	1,385,000	1,381,000	1,013,000	1,641,000	1,407,000	1,393,000	1,389,000	1,122,000	1,136,000	1,232,000	1,237,000	972,000	988,000	858,000	810,000	1,132,000	1,291,000	1,250,000	1,224,000	1,580,000	1,647,000	1,259,000	1,259,000	1,477,000	1,378,000	1,239,000	1,288,000	1,221,000	1,135,000	1,309,000	1,291,000	1,213,000	1,067,000	940,000	880,000	862,000	809,000	845,000	845,000	875,376	0	0	503,000	819,000
Liabilities And Stockholders Equity	53,915,000	54,427,000	53,747,000	54,000,000	54,000,000	55,086,000	55,894,000	55,655,000	54,104,000	54,251,000	53,035,000	53,032,000	32,770,000	32,857,000	33,919,000	33,396,000	35,713,000	35,779,000	35,359,000	35,993,000	35,174,000	39,722,000	40,299,000	39,809,000	40,933,000	42,572,000	44,459,000	25,125,000	25,258,000	24,475,000	24,714,000	24,500,000	25,791,000	26,725,000	25,167,000	25,850,000	24,695,000	25,447,000	25,124,000	25,224,000	25,224,000	24,705,000	24,490,000	24,473,000	24,216,000	24,384,000	22,770,000	22,441,000	22,194,000	21,360,000	20,078,000	20,183,000	22,095,000	22,199,000	22,449,000	22,181,000	22,181,000	21,519,999	0	0	0	0
Long Term Debt	7,108,000	7,224,000	8,534,000	8,681,000	8,691,000	8,774,000	11,228,000	11,744,000	12,385,000	12,441,000	12,748,000	13,947,000	7,441,000	7,797,000	8,085,000	6,979,000	6,699,000	6,577,000	6,498,000	7,715,000	3,343,846	6,859,195	7,577,734	7,574,537	7,583,101	9,668,239	9,656,768	4,714,940	4,712,011	4,710,184	4,744,294	4,700,138	4,714,255	4,740,518	4,702,633	4,707,598	4,696,670	4,706,670	4,702,465	4,702,262	5,727,196	5,808,923	5,946,461	6,030,685	6,152,993	6,244,528	5,111,614	5,238,191	5,276,062	5,326,159	5,541,831	5,834,879	5,624,875	5,750,656	5,943,077	5,889,305	6,025,000	0	0	0	5,809,000	6,581,000
Long Term Debt Total	0	9,642,000	11,034,000	11,197,000	11,219,000	11,346,000	13,820,000	14,391,000	15,070,000	15,230,000	15,555,000	16,832,000	9,014,000	9,434,000	9,750,000	8,701,000	8,419,000	8,087,000	7,895,000	22,407	4,560,337	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	558,000	422,000	421,000	417,000	420,000	416,000	383,000	452,000	441,000	518,000	557,000	583,000	149,000	53,000	53,000	54,000	52,000	41,000	0	0	14,981	24,977	12,134	6,195	31,088	30,378	1,543	5,258	28,278	0	0	0	33,235	0	0	0	30,978	0	0	0	30,123	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
Net Debt	7,718,000	8,709,000	9,141,000	9,447,000	9,447,000	8,149,000	10,401,000	11,313,000	12,548,000	14,099,000	15,477,000	16,512,000	8,941,000	9,363,000	10,095,000	9,350,000	8,429,000	8,481,000	8,634,000	9,606,000	8,383,000	7,959,000	9,616,000	9,376,000	8,903,000	11,462,000	12,924,000	2,729,000	2,612,000	2,334,000	2,352,000	2,230,000	2,420,000	1,911,000	4,285,000	4,169,000	4,575,000	4,248,000	4,410,000	2,545,000	2,545,000	3,806,000	4,123,000	3,800,000	3,519,000	3,083,000	3,336,000	5,000,000	4,885,000	3,259,000	5,108,000	5,265,000	5,308,000	3,110,000	3,412,000	5,583,000	5,583,000	6,153,807	0	0	0	0
Net Invested Capital	35,466,000	35,533,000	35,294,000	36,114,000	35,863,000	36,017,000	36,984,000	35,901,000	35,541,000	36,888,000	36,555,000	37,312,000	24,269,000	24,966,000	25,695,000	25,315,000	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
Net Receivables	3,187,000	4,667,000	3,531,000	3,687,000	3,687,000	4,413,000	5,848,000	5,994,000	3,892,000	4,063,000	3,639,000	3,507,000	1,388,000	1,151,000	1,400,000	835,000	1,561,000	1,320,000	1,463,000	1,752,000	1,238,000	1,898,000	2,274,000	1,608,000	1,898,000	1,615,000	1,609,000	1,769,000	1,844,000	1,377,000	1,425,000	1,116,000	1,257,000	1,113,000	1,373,000	1,382,000	1,610,000	1,853,000	2,207,000	1,889,000	1,889,000	2,268,000	2,137,000	2,237,000	1,848,000	2,140,000	1,731,000	1,731,000	1,777,000	1,613,000	1,481,000	677,000	1,432,000	1,404,000	1,456,000	1,454,000	1,454,000	1,300,498	0	0	0	0
Net Tangible Assets	0	25,361,000	0	0	24,115,000	24,249,000	22,210,000	20,546,000	19,526,000	20,789,000	20,043,000	20,030,000	14,346,000	14,669,000	14,944,000	15,364,000	16,828,000	16,851,000	16,778,000	11,381,876	5,990,695	12,763,035	12,688,457	13,249,439	14,116,381	13,665,361	13,383,725	8,619,395	8,444,709	0	0	0	8,777,545	0	0	0	8,556,923	0	0	0	8,667,043	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Working Capital	3,498,000	3,540,000	3,326,000	3,881,000	4,409,000	4,329,000	6,456,000	5,444,000	4,683,000	2,427,000	1,309,000	1,900,000	617,000	731,000	490,000	-679,000	763,000	347,000	57,000	308,000	595,000	1,217,000	650,000	410,000	572,000	1,503,000	2,080,000	5,955,000	4,151,000	4,209,000	4,075,000	4,181,000	4,615,000	5,000,000	3,032,000	2,350,000	1,238,000	1,348,000	909,000	1,831,000	1,831,000	1,230,000	1,265,000	1,309,000	1,309,000	1,658,000	572,000	308,000	523,000	891,000	459,000	-134,000	290,000	829,000	896,000	717,000	717,000	469,101	0	0	0	0
Non Current Assets Total	44,207,000	43,682,000	43,797,000	44,001,000	44,001,000	42,823,000	40,573,000	41,071,000	42,116,000	44,712,000	45,130,000	45,821,000	29,794,000	30,190,000	31,269,000	31,740,000	32,429,000	32,523,000	32,432,000	32,615,000	31,979,000	33,813,000	35,733,000	35,881,000	35,925,000	37,363,000	37,665,000	16,268,000	18,436,000	18,263,000	18,484,000	18,467,000	19,318,000	19,785,000	19,800,000	21,074,000	20,500,000	20,803,000	20,507,000	19,614,000	19,614,000	19,812,000	19,762,000	19,597,000	19,637,000	19,317,000	19,115,000	18,683,000	18,283,000	17,719,000	17,092,000	17,153,000	19,320,000	19,207,000	19,579,000	19,239,000	19,239,000	19,128,423	0	0	0	0
Non Current Liabilities Other	554,000	556,000	461,000	351,000	377,000	337,000	99,000	134,000	112,000	96,000	88,000	113,000	45,000	49,000	73,000	33,000	83,000	103,000	165,000	249,000	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
Non Current Liabilities Total	18,993,000	18,395,000	19,831,000	19,917,000	19,917,000	19,378,000	20,742,000	21,889,000	23,191,000	22,755,000	22,799,000	24,092,000	13,704,000	13,889,000	14,448,000	13,327,000	13,991,000	13,643,000	13,439,000	15,504,000	15,106,000	16,406,000	17,380,000	16,910,000	16,516,000	19,433,000	20,044,000	10,506,000	10,997,000	11,041,000	10,882,000	10,674,000	11,542,000	11,772,000	11,737,000	12,295,000	11,552,000	11,408,000	10,988,000	11,499,000	11,499,000	10,936,000	11,121,000	11,075,000	11,140,000	10,911,000	9,716,000	9,290,000	9,400,000	9,306,000	8,720,000	8,704,000	9,588,000	9,877,000	10,420,000	10,055,000	10,055,000	9,985,146	0	0	0	0
Non Currrent Assets Other	900,000	423,000	437,000	468,000	468,000	468,000	476,000	481,000	475,000	710,000	700,000	699,000	75,000	126,000	71,000	59,000	159,000	64,000	79,000	76,000	186,000	240,000	370,000	332,000	347,000	372,000	359,000	218,000	148,000	128,000	100,000	85,000	120,000	86,000	75,000	69,000	34,000	86,000	77,000	68,000	36,000	1,209,000	1,337,000	1,379,000	1,461,000	1,563,000	1,806,000	1,873,000	1,947,000	2,902,000	2,833,000	1,269,000	2,644,000	2,803,000	2,964,000	2,922,000	2,922,000	2,760,156	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
Other Assets	0	930,000	1,042,000	1,056,000	841,000	779,000	1,152,000	1,044,000	1,169,000	803,000	807,000	801,000	111,000	74,000	71,000	59,000	58,000	8,000	79,000	57,109	73,326	162,348	268,467	2,016,572	2,117,178	2,167,240	2,088,700	345,527	316,267	281,819	264,603	251,422	294,776	246,339	253,742	245,113	268,479	736,673	764,689	740,271	759,672	1,889,428	1,977,708	2,083,006	2,217,295	2,743,561	2,889,173	3,032,903	3,019,516	3,058,756	3,304,962	3,579,674	3,801,404	3,837,334	3,860,605	4,006,303	3,731,000	0	0	0	3,958,000	4,567,000
Other Current Assets	264,000	133,000	290,000	0	258,000	111,000	525,000	530,000	1,304,000	0	0	0	121,000	3,000	3,000	6,000	5,000	2,000	15,000	1,000	163,000	505,000	509,000	522,000	1,111,000	1,840,000	3,560,000	2,308,000	21,000	13,000	37,000	176,000	301,000	294,000	1,113,000	340,000	478,000	55,000	3,000	65,000	10,000	124,000	388,000	422,000	283,000	163,000	380,000	258,000	232,000	392,000	128,000	953,000	163,000	262,000	196,000	246,000	246,000	60,732	0	0	681,000	88,000
Other Current Liab	164,000	295,000	262,000	392,000	392,000	1,387,000	119,000	697,000	601,000	498,000	431,000	256,000	1,446,000	54,000	200,000	28,000	115,000	100,000	100,000	242,000	85,000	944,000	1,203,000	1,182,000	1,801,000	1,697,000	1,633,000	830,000	405,000	194,000	228,000	152,000	156,000	141,000	343,000	292,000	369,000	376,000	402,000	842,000	842,000	700,000	730,000	726,000	620,000	273,000	587,000	87,000	437,000	278,000	317,000	1,202,000	317,000	121,000	427,000	2,225,000	2,225,000	70,156	0	0	40,000	174,000
Other Liab	0	8,753,000	0	0	9,040,000	8,032,000	6,922,000	7,498,000	8,121,000	7,525,000	7,244,000	7,260,000	4,690,000	4,455,000	4,698,000	4,626,000	5,572,000	5,556,000	5,544,000	4,848,212	2,611,369	5,945,988	5,602,912	1,174,785	1,108,011	1,258,294	1,200,154	1,187,561	1,547,849	1,853,911	1,718,375	1,520,837	1,590,203	1,906,121	2,231,650	2,342,371	2,402,547	2,528,797	2,676,413	2,482,353	2,403,276	2,082,444	2,089,168	2,291,503	2,486,394	2,324,137	2,081,817	1,926,726	1,881,926	1,556,042	1,630,683	1,565,657	1,580,742	1,444,952	1,439,038	1,483,159	1,154,000	0	0	0	700,000	736,000
Other Stockholder Equity	2,002,000	2,255,000	2,504,000	2,849,000	2,849,000	3,135,000	3,548,000	4,232,000	8,998,000	9,236,000	9,230,000	9,224,000	4,391,000	4,386,000	4,384,000	4,381,000	4,377,000	4,374,000	4,372,000	4,369,000	4,367,000	4,366,000	4,365,000	4,362,000	4,361,000	4,359,000	4,357,000	4,353,000	4,350,000	4,345,000	4,340,000	4,335,000	4,330,000	4,324,000	4,315,000	4,306,000	4,291,000	4,275,000	4,258,000	4,219,000	4,219,000	4,204,000	4,188,000	4,170,000	4,154,000	7,968,000	7,953,000	7,943,000	7,887,000	7,875,000	7,862,000	7,846,000	4,088,000	9,589,000	5,896,000	9,583,000	9,583,000	7,302,475	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
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
Property Plant And Equipment Gross	65,896,000	64,373,000	63,030,000	62,286,000	61,111,000	59,156,000	0	0	0	0	40,699,000	41,368,000	27,173,000	27,700,000	28,778,000	29,257,000	29,946,000	30,042,000	30,081,000	30,267,000	29,483,000	31,301,000	33,091,000	33,277,000	33,269,000	34,652,000	34,957,000	15,808,000	18,011,000	17,893,000	18,142,000	18,140,000	18,910,000	19,457,000	19,483,000	20,763,000	20,188,000	19,978,000	19,691,000	18,807,000	18,807,000	17,864,000	17,686,000	17,479,000	17,437,000	16,622,000	16,177,000	15,678,000	15,204,000	13,685,000	13,127,000	12,736,000	15,530,000	15,258,000	15,469,000	15,171,000	15,221,693	0	0	0	0	0
Property Plant And Equipment Net	38,930,000	39,261,000	39,244,000	39,420,000	39,420,000	38,450,000	35,492,000	36,026,000	36,955,000	40,387,000	40,699,000	41,368,000	27,173,000	27,700,000	28,778,000	29,257,000	29,946,000	30,042,000	30,081,000	30,267,000	29,483,000	31,301,000	33,091,000	33,277,000	33,269,000	34,652,000	34,957,000	15,808,000	18,011,000	17,893,000	18,142,000	18,140,000	18,910,000	19,457,000	19,483,000	20,763,000	20,188,000	19,978,000	19,691,000	18,807,000	18,807,000	17,864,000	17,686,000	17,479,000	17,437,000	16,622,000	16,177,000	15,678,000	15,204,000	13,685,000	13,127,000	12,736,000	15,530,000	15,258,000	15,469,000	15,171,000	15,171,000	15,221,693	0	0	0	0
Property Plant Equipment	0	39,261,000	39,244,000	39,420,000	39,029,000	38,450,000	35,492,000	36,026,000	36,955,000	40,387,000	40,699,000	41,368,000	27,173,000	27,700,000	28,778,000	29,257,000	29,946,000	30,042,000	30,081,000	22,743,463	11,623,037	24,431,002	25,095,556	25,770,154	26,519,729	27,701,655	26,962,592	11,874,108	13,403,036	13,628,608	14,036,364	13,947,409	13,662,308	14,612,843	15,595,133	16,364,281	17,371,999	17,839,093	18,452,816	17,658,824	17,704,038	17,326,867	16,848,623	17,190,205	17,574,078	16,921,511	15,908,152	15,823,577	14,910,268	13,814,875	14,436,371	14,100,186	15,576,730	14,826,547	14,530,340	14,940,910	14,537,000	0	0	0	12,260,000	13,321,000
Retained Earnings	8,913,000	8,440,000	6,849,000	6,819,000	6,819,000	6,037,000	4,642,000	2,425,000	878,000	1,364,000	857,000	677,000	501,000	654,000	848,000	1,083,000	2,957,000	2,921,000	2,794,000	1,072,000	1,023,000	2,441,000	2,743,000	3,223,000	3,937,000	3,414,000	3,545,000	966,000	796,000	747,000	1,039,000	1,348,000	1,507,000	2,280,000	612,000	709,000	1,599,000	2,272,000	2,119,000	1,660,000	1,660,000	1,901,000	1,713,000	1,717,000	1,728,000	2,013,000	1,890,000	1,660,000	1,400,000	1,285,000	925,000	421,000	421,000	515,000	442,000	420,000	420,000	40,837	0	0	0	0
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
Short Long Term Debt	179,000	14,000	0	0	115,000	0	0	62,000	79,000	593,000	697,000	266,000	121,000	137,000	299,000	602,000	0	662,000	654,000	668,000	268,864	808,617	7	7,574,537	7,583,101	9,668,239	10,345,546	4,714,940	4,749,219	0	0	0	4,714,255	0	0	0	4,696,670	0	0	0	6,139,509	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	9,945,000	9,971,000	11,308,000	11,496,000	11,496,000	11,643,000	14,094,000	14,712,000	15,421,000	16,109,000	16,532,000	17,385,000	9,319,000	9,767,000	10,247,000	9,510,000	8,615,000	8,918,000	8,698,000	9,850,000	9,164,000	9,824,000	9,992,000	9,781,000	9,513,000	12,094,000	13,413,000	6,277,000	6,332,000	6,184,000	6,132,000	6,113,000	6,525,000	6,312,000	5,875,000	5,973,000	5,458,000	5,404,000	5,170,000	4,997,000	4,997,000	4,830,000	4,948,000	4,778,000	4,679,000	4,626,000	3,745,000	5,460,000	5,380,000	3,617,000	5,353,000	5,644,000	5,608,000	3,574,000	3,821,000	5,980,000	5,980,000	6,308,778	0	0	0	0
Short Term Debt	478,000	329,000	274,000	299,000	299,000	297,000	274,000	321,000	351,000	879,000	977,000	553,000	305,000	333,000	497,000	809,000	196,000	831,000	803,000	798,000	682,000	1,036,000	7	7,574,537	7,583,101	9,668,239	893,000	4,714,940	4,749,219	0	0	0	4,714,255	0	0	0	4,696,670	133,000	152,000	439,000	439,000	0	0	0	0	0	209,000	270,000	270,000	14,000	86,000	250,000	250,000	0	0	0	0	0	0	0	0	0
Short Term Investments	0	0	0	0	0	0	0	0	0	96,000	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
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
Total Assets	53,915,000	54,427,000	53,747,000	54,000,000	54,000,000	55,086,000	55,894,000	55,655,000	54,104,000	54,251,000	53,035,000	53,032,000	32,770,000	32,857,000	33,919,000	33,396,000	35,713,000	35,779,000	35,359,000	35,993,000	35,174,000	39,722,000	40,299,000	39,809,000	40,933,000	42,572,000	44,459,000	25,125,000	25,258,000	24,475,000	24,714,000	24,500,000	25,791,000	26,725,000	25,167,000	25,850,000	24,695,000	25,447,000	25,124,000	25,224,000	25,224,000	24,705,000	24,490,000	24,473,000	24,216,000	24,384,000	22,770,000	22,441,000	22,194,000	21,360,000	20,078,000	20,183,000	22,095,000	22,199,000	22,449,000	22,181,000	22,181,000	21,519,999	0	0	18,466,000	20,987,000
Total Current Assets	9,708,000	10,745,000	9,950,000	9,999,000	9,999,000	12,263,000	15,321,000	14,584,000	11,988,000	9,539,000	7,905,000	7,211,000	2,976,000	2,667,000	2,650,000	1,656,000	3,284,000	3,256,000	2,927,000	3,378,000	3,195,000	5,909,000	4,566,000	3,928,000	5,008,000	5,209,000	6,794,000	8,857,000	6,822,000	6,212,000	6,230,000	6,033,000	6,473,000	6,940,000	5,367,000	4,776,000	4,195,000	4,644,000	4,617,000	5,610,000	5,610,000	4,893,000	4,728,000	4,876,000	4,579,000	5,067,000	3,655,000	3,758,000	3,911,000	3,641,000	2,986,000	3,030,000	2,775,000	2,992,000	2,870,000	2,942,000	2,942,000	2,391,576	0	0	0	0
Total Current Liabilities	6,210,000	7,205,000	6,624,000	6,118,000	6,118,000	7,934,000	8,865,000	9,140,000	7,305,000	7,112,000	6,596,000	5,311,000	2,359,000	1,936,000	2,160,000	2,335,000	2,521,000	2,909,000	2,870,000	3,070,000	2,600,000	4,692,000	3,916,000	3,518,000	4,436,000	3,706,000	4,714,000	2,902,000	2,671,000	2,003,000	2,155,000	1,852,000	1,858,000	1,940,000	2,335,000	2,426,000	2,957,000	3,296,000	3,708,000	3,779,000	3,779,000	3,663,000	3,463,000	3,567,000	3,270,000	3,409,000	3,083,000	3,450,000	3,388,000	2,750,000	2,527,000	3,164,000	2,485,000	2,163,000	1,974,000	2,225,000	2,225,000	1,922,476	0	0	1,798,000	3,125,000
Total Liab	25,203,000	25,600,000	26,455,000	26,035,000	26,035,000	27,312,000	29,607,000	31,029,000	30,496,000	29,867,000	29,395,000	29,403,000	16,063,000	15,825,000	16,608,000	15,662,000	16,512,000	16,552,000	16,309,000	18,574,000	17,706,000	21,098,000	21,296,000	20,428,000	20,952,000	23,139,000	24,758,000	13,408,000	13,668,000	13,044,000	13,037,000	12,526,000	13,400,000	13,712,000	14,072,000	14,721,000	14,509,000	14,704,000	14,696,000	15,278,000	15,278,000	14,599,000	14,584,000	14,642,000	14,410,000	14,320,000	12,799,000	12,740,000	12,788,000	12,056,000	11,247,000	11,868,000	12,073,000	12,040,000	12,394,000	12,280,000	12,280,000	11,907,621	0	0	10,718,000	0
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
Total Stockholder Equity	28,698,000	28,814,000	27,279,000	27,952,000	27,952,000	27,762,000	26,275,000	24,614,000	23,596,000	24,373,000	23,629,000	23,618,000	16,707,000	17,032,000	17,311,000	17,734,000	19,201,000	19,227,000	19,050,000	17,419,000	17,468,000	18,624,000	19,003,000	19,381,000	19,981,000	19,433,000	19,701,000	11,717,000	11,590,000	11,431,000	11,677,000	11,974,000	12,391,000	13,013,000	11,095,000	11,129,000	10,186,000	10,743,000	10,428,000	9,946,000	9,946,000	10,106,000	9,906,000	9,831,000	9,806,000	10,064,000	9,971,000	9,701,000	9,406,000	9,304,000	8,831,000	8,315,000	10,022,000	10,159,000	10,055,000	9,901,000	9,901,000	9,612,378	0	0	7,748,000	0
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
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

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
Begin Period Cash Flow	4,524,000	2,873,000	378,000	186,000	781,000	610,000	3,720,000	4,105,000	883,000	2,452,000	1,160,000	495,000	300,000	155,000	160,206	367,534
Capital Expenditures	4,298,000	3,758,000	2,563,000	859,000	1,183,000	1,377,000	1,670,000	1,034,000	1,714,000	3,058,000	3,269,000	3,449,000	2,792,000	2,208,000	1,984,255	2,489,982
Cash And Cash Equivalents Changes	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
Change In Cash	-2,297,000	1,651,000	2,495,000	192,000	-595,000	171,000	-3,110,000	-385,000	3,222,000	-1,569,000	1,292,000	665,000	195,000	145,000	-5,236	-181,333
Change In Working Capital	-1,193,000	575,000	-1,227,000	126,000	-439,000	480,000	145,000	-562,000	-217,000	47,000	-70,000	-223,000	-3,000	179,000	1,096,314	-379,704
Change Receivables	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Account Receivables	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Inventory	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Liabilities	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Netincome	0	-111,000	2,407,000	-581,000	-868,000	73,000	-3,285,000	925,000	-492,162	501,678	910,289	0	0	0	0	0
Change To Operating Activities	0	575,000	-1,227,000	126,000	-417,000	433,000	145,000	-562,000	-81,838	40,444	-65,895	0	0	0	0	0
Depreciation	4,794,000	4,364,000	4,322,000	2,334,000	2,216,000	2,131,000	2,030,000	1,498,000	2,114,000	1,946,000	1,833,000	1,585,000	1,295,000	1,310,000	1,406,255	1,604,006
Dividends Paid	-1,026,000	927,000	210,000	77,000	260,000	245,000	225,000	166,000	528,000	805,000	732,000	665,000	603,000	601,000	158,112	0
End Period Cash Flow	2,227,000	4,524,000	2,873,000	378,000	186,000	781,000	610,000	3,720,000	4,105,000	883,000	2,452,000	1,160,000	495,000	300,000	154,971	186,201
Exchange Rate Changes	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Free Cash Flow	3,090,000	7,645,000	3,356,000	-586,000	2,102,000	777,000	1,389,000	-173,000	-240,000	468,000	270,000	-29,000	481,000	386,000	1,676,407	780,097
Investments	-5,185,000	-2,314,000	17,000	-863,000	-1,432,000	9,000	9,000	-1,079,000	1,131	-1,362,189	1,398,852	0	0	0	0	0
Issuance Of Capital Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Borrowings	0	-4,417,000	-2,040,000	914,000	-2,153,000	-1,164,000	3,843,000	3,843,000	-9,428	-15,489	-17,886	0	0	0	0	0
Net Income	4,109,000	6,450,000	587,000	-2,379,000	2,194,000	-2,970,000	2,081,000	-545,000	618,000	744,000	662,000	993,000	1,478,000	993,000	678,521	2,881,856
Other Cashflows From Financing Activities	-291,000	232,000	8,000	1,443,000	276,000	-1,000	-2,000	-2,000	-27,000	-20,000	-3,000	1,220,000	-3,000	-1,796,000	-1,391,596	-137,521
Other Cashflows From Investing Activities	0	1,394,000	434,000	-38,000	-117,000	217,000	3,369,000	-52,000	2,602,000	12,908	1,647,369	113,888	256,938	413,240	115,000	82,000
Other Non Cash Items	9,516,000	-628,000	524,000	106,000	389,000	2,288,000	-1,645,000	225,000	323,000	274,000	415,000	325,000	35,000	15,000	1,056,524	-1,304,624
Sale Purchase Of Stock	-1,061,000	-2,530,000	-265,000	0	0	0	7,443,000	0	1,449,000	24,094	806,000	0	0	0	3,812,491	0
Stock Based Compensation	-9,588,000	373,000	1,261,000	924,000	-261,000	1,019,000	-135,000	454,000	-1,100,000	156,000	455,000	266,000	-107,000	9,000	0	0
Total Cash From Financing Activities	-4,313,000	-7,676,000	-2,507,000	837,000	-2,413,000	-1,410,000	6,515,000	-168,000	894,000	-797,000	-726,000	592,000	-558,000	-631,000	-1,811,483	-1,036,884
Total Cash From Operating Activities	7,388,000	11,403,000	5,919,000	273,000	3,285,000	2,154,000	3,059,000	861,000	1,474,000	3,526,000	3,539,000	3,420,000	3,273,000	2,594,000	3,660,662	3,270,079
Total Cashflows From Investing Activities	0	-2,314,000	-942,000	-863,000	-1,432,000	-613,000	-12,866,000	-1,079,000	888,000	-3,743,223	-1,429,916	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
Begin Period Cash Flow	1,262,000	2,167,000	2,049,000	4,524,000	3,494,000	3,693,000	3,399,000	2,873,000	2,010,000	1,055,000	873,000	378,000	404,000	152,000	160,000	186,000	437,000	64,000	244,000	781,000	1,865,000	376,000	405,000	610,000	632,000	489,000	3,548,000	3,720,000	3,850,000	3,780,000	3,883,000	4,105,000	4,401,000	1,590,000	1,804,000	883,000	1,156,000	760,000	815,000	1,024,000	1,024,000	825,000	978,000	1,160,000	1,543,000	409,000	460,000	495,000	358,000	245,000	379,000	300,000	464,000	409,000	397,000	155,000	198,000	127,000	261,000	188,000	0	-	-	-	0
Capital Expenditures	1,170,000	1,025,000	1,002,000	1,101,000	1,274,000	866,000	823,000	746,000	835,000	647,000	534,000	547,000	250,000	152,000	147,000	310,000	320,000	292,000	251,000	321,000	291,000	267,000	333,000	529,000	587,000	443,000	327,000	313,000	259,000	208,000	244,000	323,000	427,000	401,000	357,000	529,000	787,000	750,000	692,000	900,000	900,000	744,000	707,000	918,000	1,015,000	838,000	688,000	908,000	953,000	632,000	478,000	729,000	754,000	484,000	477,000	493,000	327,255	516,000	489,000	652,000	2,046,000	0	0	0	1,545,000
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	0	0	0	0	0	0	0	0	0	0	0	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
Change In Cash	965,000	-905,000	118,000	-2,475,000	1,030,000	-199,000	294,000	526,000	863,000	955,000	182,000	495,000	-26,000	252,000	-8,000	-26,000	-251,000	373,000	-180,000	-537,000	-1,084,000	1,489,000	-29,000	-205,000	-22,000	143,000	-3,059,000	-172,000	-130,000	70,000	-103,000	-222,000	-296,000	2,811,000	-214,000	921,000	-273,000	396,000	-55,000	1,428,000	1,428,000	199,000	-153,000	-182,000	-383,000	1,134,000	-51,000	-35,000	137,000	113,000	-134,000	79,000	-164,000	55,000	12,000	242,000	-43,029	71,000	-134,000	73,000	0	-	-	-	0
Change In Working Capital	949,000	-641,000	132,000	-1,633,000	673,000	1,193,000	-92,000	-1,199,000	271,000	-166,000	-430,000	-902,000	-91,000	318,000	-372,000	271,000	62,000	-82,000	193,000	-612,000	521,000	282,000	-241,000	-82,000	34,000	-390,000	447,000	5,000	-371,000	-112,000	-235,000	156,000	47,000	98,000	-142,000	-220,000	467,000	107,000	-80,000	141,000	141,000	-92,000	-43,000	-76,000	61,000	-88,000	43,000	-239,000	101,000	128,000	-170,000	-62,000	10,000	136,000	-66,000	99,000	817,314	490,000	-152,000	-59,000	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
Change To Account 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
Change To Inventory	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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 Liabilities	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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 Netincome	0	263,000	263,000	263,000	365,000	197,000	-538,000	-135,000	1,558,000	550,000	492,000	-193,000	-376,000	-523,000	-825,000	693,000	-102,000	155,000	-1,264,000	271,265	-477,016	515,923	465,645	-30,977	-2,635,313	382,924	-1,741,612	-117,179	673,463	0	0	0	-942,851	0	0	0	501,678	0	0	0	910,289	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	0
Change To Operating Activities	0	-641,000	-641,000	-641,000	673,000	1,193,000	-92,000	-1,199,000	271,000	-166,000	-430,000	-902,000	-91,000	318,000	-372,000	271,000	62,000	-82,000	193,000	-459,874	205,393	220,106	-182,770	-63,502	115,584	-311,776	344,774	3,756	-418,217	0	0	0	-156,781	0	0	0	40,444	0	0	0	-65,895	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	0
Depreciation	1,255,000	3,374,000	2,177,000	1,105,000	1,470,000	1,047,000	1,132,000	1,030,000	1,088,000	1,153,000	1,036,000	1,045,000	3,464,000	2,615,000	580,000	943,000	581,000	1,668,000	1,110,000	24,885	398,000	434,749	438,344	505,692	2,275,010	552,000	456,000	201,307	791,040	0	0	542,000	1,718,084	0	0	0	1,851,820	0	0	0	1,863,880	0	0	455,000	0	0	0	0	0	0	0	0	0	0	0	0	0	391,000	382,000	0	0	-	-	-	0
Dividends Paid	-270,000	264,000	274,000	218,000	420,000	214,000	215,000	78,000	78,000	44,000	44,000	44,000	77,000	77,000	77,000	77,000	77,000	60,000	62,000	61,000	62,000	61,000	62,000	60,000	61,000	62,000	61,000	41,000	42,000	41,000	42,000	41,000	132,000	133,000	125,000	138,000	201,000	201,000	201,000	183,000	183,000	182,000	183,000	184,000	167,000	166,000	166,000	166,000	151,000	150,000	151,000	151,000	151,000	150,000	150,000	150,000	158,112	0	0	0	0	-	-	-	0
End Period Cash Flow	2,227,000	1,262,000	2,167,000	2,049,000	4,524,000	3,494,000	3,693,000	3,399,000	2,873,000	2,010,000	1,055,000	873,000	378,000	404,000	152,000	160,000	186,000	437,000	64,000	244,000	781,000	1,865,000	376,000	405,000	610,000	632,000	489,000	3,548,000	3,720,000	3,850,000	3,780,000	3,883,000	4,105,000	4,401,000	1,590,000	1,804,000	883,000	1,156,000	760,000	2,452,000	2,452,000	1,024,000	825,000	978,000	1,160,000	1,543,000	409,000	460,000	495,000	358,000	245,000	379,000	300,000	464,000	409,000	397,000	154,971	198,000	127,000	261,000	188,000	-	-	-	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
Free Cash Flow	1,776,000	1,713,000	988,000	-1,387,000	1,696,000	3,223,000	2,156,000	619,000	1,349,000	1,491,000	835,000	-319,000	0	580,000	-981,000	-185,000	420,000	542,000	1,024,000	115,000	194,000	992,000	200,000	-652,000	313,000	149,000	912,000	15,000	-95,000	102,000	-39,000	-141,000	-105,000	141,000	-22,000	-254,000	81,000	342,000	417,000	76,000	76,000	96,000	121,000	-23,000	-257,000	191,000	280,000	-243,000	-1,000	289,000	291,000	-98,000	-96,000	161,000	-6,000	327,000	444,407	898,000	304,000	30,000	641,000	-	-	-	1,469,000
Investments	-1,280,000	-1,101,000	-1,159,000	-1,755,000	-1,170,000	-690,000	-110,000	337,000	50,000	-2,000	-31,000	204,000	-200,000	-136,000	-206,000	-321,000	-466,000	-343,000	-309,000	-314,000	-788	-1,561	2,275	4,646	7,174	-799	771	751	-744	0	0	0	2,167	0	0	0	-1,362,189	0	0	0	1,398,852	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	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	-1,402,000	-1,402,000	-1,402,000	41,000	-2,969,000	-888,000	-601,000	-581,000	-868,000	-673,000	82,000	-64,000	-322,000	1,041,000	259,000	-448,000	-40,000	-1,074,000	-444,094	-450,997	-5,464	-10,617	774	3,063,372	-757,055	5,747,011	-7,511	2,859,801	0	0	0	-18,062	0	0	0	-15,489	0	0	0	-17,886	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-	-	-	0
Net Income	743,000	1,864,000	866,000	636,000	784,000	1,609,000	2,432,000	1,625,000	-408,000	551,000	224,000	220,000	-153,000	-194,000	-235,000	-1,797,000	113,000	187,000	1,784,000	110,000	-1,349,000	-243,000	-380,000	-998,000	-1,268,000	534,000	2,640,000	211,000	91,000	-251,000	-267,000	-118,000	-641,000	1,801,000	126,000	-668,000	-472,000	354,000	615,000	-58,000	-58,000	370,000	179,000	171,000	-118,000	289,000	397,000	426,000	266,000	510,000	655,000	47,000	73,000	223,000	172,000	525,000	-97,479	101,000	160,000	515,000	380,000	1,299,000	522,000	167,000	0
Other Cashflows From Financing Activities	846,000	-603,000	-1,000	-107,000	131,000	-2,000	47,000	36,000	8,000	1,537,000	-196,000	158,000	-16,000	1,167,000	1,097,000	592,000	272,000	-343,000	5,000	-314,000	-373,000	300,000	-1,000	1,000	1,787,000	3,000	7,450,000	-11,000	-1,000	-196,000	-1,000	-369,000	-6,000	-1,000	-1,000	-19,000	-139,000	-33,000	-274,000	-9,000	638,000	-3,000	-1,000	-903,000	-3,000	1,015,000	-65,000	273,000	3,000	-90,000	-166,000	250,000	-657,000	-142,000	164,000	-372,000	-866,596	3,515,000	11,000	111,000	0	-	-	-	0
Other Cashflows From Investing Activities	0	-887,000	-811,000	-654,000	1,394,000	1,290,000	30,000	259,000	143,000	239,000	41,000	11,000	14,000	15,000	-60,000	-7,000	-40,000	-103,000	-52,000	6,763	169,518	-56,978	-129,683	379,463	2,685,532	793,029	-41,651	20,281	-38,696	0	0	0	1,940,611	2,045,813	0	0	12,908	0	0	0	1,647,369	205,626	0	14,752	113,888	74,315	0	76,706	256,938	0	0	46,382	413,240	306,093	122,112	119,165	115,000	0	0	0	82,000	-	-	-	12,000
Other Non Cash Items	2,343,000	1,517,000	1,036,000	1,081,000	1,496,000	719,000	700,000	-209,000	-93,000	198,000	295,000	124,000	676,000	785,000	84,000	-200,000	171,000	683,000	175,000	897,000	1,757,000	1,474,000	1,102,000	965,000	2,287,000	35,000	-2,636,000	41,000	300,000	784,000	759,000	52,000	1,055,000	-1,520,000	612,000	1,190,000	910,000	487,000	358,000	860,000	219,000	430,000	652,000	26,000	749,000	718,000	324,000	384,000	561,000	25,000	-10,000	647,000	616,000	253,000	369,000	96,000	433,779	813,000	27,000	250,000	0	-	-	-	0
Sale Purchase Of Stock	-350,000	-361,000	-310,000	-40,000	-387,000	-659,000	-1,018,000	-466,000	-265,000	2,000	1,000	1,000	0	0	0	0	0	0	0	0	0	0	0	0	2,310,881	0	2,313,922	2,253,436	2,157,315	0	0	0	1,046,890	0	0	0	24,094	0	0	0	26,358	816,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-109,509	0	0	0	0	-	-	-	0
Stock Based Compensation	-2,510,000	151,000	29,000	0	-1,470,000	-1,047,000	-1,132,000	0	1,155,000	211,000	181,000	-286,000	0	0	-760,000	1,256,000	-163,000	0	0	0	-258,000	0	0	0	0	43,000	-536,000	0	0	0	0	-260,000	0	0	0	0	0	0	0	0	0	0	0	280,000	0	0	0	0	0	0	0	0	0	0	0	0	0	-291,000	457,000	0	0	-	-	-	0
Total Cash From Financing Activities	-639,000	-2,600,000	-639,000	-435,000	-750,000	-3,822,000	-2,011,000	-1,093,000	-916,000	-913,000	-717,000	39,000	-64,000	-322,000	1,041,000	182,000	-525,000	-100,000	-1,136,000	-652,000	-1,206,000	-68,000	-77,000	-59,000	-2,712,000	-1,009,000	10,288,000	-52,000	-43,000	-41,000	-43,000	-41,000	-138,000	-134,000	-126,000	1,292,000	-340,000	-232,000	-471,000	-187,000	-187,000	-190,000	-183,000	-166,000	-168,000	852,000	-230,000	138,000	-144,000	-234,000	-310,000	130,000	-156,000	-288,000	16,000	-203,000	-4,565,483	3,035,000	-392,000	111,000	0	-	-	-	0
Total Cash From Operating Activities	2,946,000	2,738,000	1,990,000	-286,000	2,970,000	4,089,000	2,979,000	1,365,000	2,184,000	2,138,000	1,369,000	228,000	250,000	732,000	-834,000	125,000	740,000	834,000	1,275,000	436,000	485,000	1,259,000	533,000	-123,000	900,000	592,000	1,239,000	328,000	164,000	310,000	205,000	182,000	322,000	542,000	335,000	275,000	868,000	1,092,000	1,109,000	976,000	976,000	840,000	828,000	895,000	758,000	1,029,000	968,000	665,000	952,000	921,000	769,000	631,000	658,000	645,000	471,000	820,000	771,662	1,414,000	793,000	682,000	2,687,000	-	-	-	3,014,000
Total Cashflows From Investing Activities	0	-4,015,000	-2,914,000	-1,755,000	-2,314,000	-1,144,000	-791,000	337,000	-395,000	-327,000	-424,000	204,000	-200,000	-136,000	-206,000	-321,000	-466,000	-966,000	-623,000	-235,948	-147,047	234,155	-379,948	-30,202	-10,255,879	409,305	-11,342,846	-344,776	-802,947	0	0	0	641,572	1,019,151	0	0	-3,743,223	0	0	0	-1,429,916	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
Cost Of Revenue	46,044,000	54,878,000	39,704,000	13,391,000	17,032,000	17,362,000	13,890,000	10,525,000	11,674,000	15,843,000	14,642,000	12,993,000	11,901,000	8,885,000	6,705,628	13,305,461
Depreciation And Amortization	4,794,000	4,364,000	4,322,000	2,352,000	2,216,000	2,157,000	1,953,000	1,475,000	1,914,000	1,881,000	1,833,000	1,585,000	1,295,000	1,310,000	1,406,255	1,604,006
Discontinued Operations	0	0	0	0	0	247,000	1,098,000	-86,000	-111,632	-254,711	0	0	0	0	0	0
Ebit	5,472,000	10,972,000	3,879,000	-2,169,000	1,858,000	-1,327,000	283,000	-305,000	-826,000	1,712,000	2,095,000	2,190,000	2,577,000	1,442,000	1,223,013	4,029,487
Ebitda	10,266,000	15,336,000	8,201,000	183,000	4,074,000	830,000	2,236,000	1,170,000	1,088,000	3,593,000	3,928,000	3,775,000	3,872,000	2,752,000	2,629,268	5,633,493
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Extraordinary Items	0	0	0	0	0	247,000	1,098,000	-86,000	-296,000	0	0	0	0	0	0	0
Gross Profit	6,160,000	16,887,000	9,107,000	200,000	4,321,000	4,027,000	3,424,000	1,757,000	1,533,000	4,264,000	4,351,000	4,236,000	3,795,000	4,088,000	3,911,966	6,846,842
Income Before Tax	4,989,000	8,731,000	1,315,000	-3,230,000	1,397,000	-3,926,000	2,216,000	-927,000	537,000	1,195,000	1,094,000	1,776,000	2,207,000	1,163,000	994,745	3,764,181
Income Tax Expense	931,000	2,281,000	728,000	-851,000	-797,000	-1,010,000	-52,000	-382,000	-81,000	451,000	432,000	783,000	729,000	170,000	316,224	882,325
Interest Expense	471,000	812,000	1,048,000	511,000	547,000	595,000	619,000	471,000	454,000	427,000	499,000	434,000	447,000	279,000	228,268	265,306
Interest Income	217,000	110,000	23,000	9,000	166,000	1,673,000	1,962,000	492,000	1,084,000	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	4,109,000	6,450,000	587,000	-2,379,000	2,194,000	-2,669,000	3,366,000	-545,000	618,000	744,000	662,000	993,000	1,478,000	993,000	678,521	2,881,856
Net Income Applicable To Common Shares	0	6,415,000	553,000	-2,379,000	2,194,000	-2,669,000	3,366,000	-545,000	618,000	640,220	623,176	1,000,806	1,449,446	995,988	648,000	2,368,000
Net Income From Continuing Ops	4,109,000	6,450,000	587,000	-2,379,000	2,194,000	-2,916,000	2,268,000	-545,000	344,702	640,220	623,176	0	0	0	0	0
Net Interest Income	-538,000	-739,000	-1,059,000	-499,000	-441,000	-546,000	-535,000	-310,000	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
Non Recurring	0	0	0	0	0	0	0	0	0	432,837	0	0	0	0	0	0
Operating Income	5,472,000	10,972,000	3,879,000	-2,169,000	1,858,000	-1,326,000	242,000	-302,000	-824,000	1,693,000	2,031,000	2,097,000	2,453,000	1,442,000	1,223,013	4,029,487
Other Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Operating Expenses	46,732,000	61,413,000	45,287,000	15,704,000	19,554,000	22,715,000	17,072,000	12,584,000	14,031,000	18,414,000	16,962,000	15,132,000	13,243,000	11,531,000	9,394,581	16,122,816
Preferred Stock And Other Adjustments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Reconciled Depreciation	4,644,000	4,364,000	5,886,000	3,464,000	2,249,000	2,131,000	2,030,000	0	0	0	0	0	0	0	0	0
Research Development	0	0	0	12,000	20,000	25,000	36,000	36,000	27,000	15,000	24,000	15,118	0	0	0	0
Selling And Marketing Expenses	0	0	0	0	0	0	0	0	0	0	0	0	0	1,065,000	703,651	1,171,971
Selling General Administrative	688,000	865,000	849,000	274,000	336,000	391,000	308,000	326,000	335,000	358,000	349,000	352,000	295,000	326,000	196,855	203,239
Tax Provision	931,000	2,281,000	728,000	-851,000	-797,000	-1,010,000	-52,000	-343,000	-24,000	0	0	0	0	0	0	0
Total Operating Expenses	688,000	6,535,000	5,583,000	2,313,000	2,522,000	5,353,000	3,182,000	2,059,000	2,357,000	2,571,000	2,320,000	2,139,000	1,342,000	2,646,000	2,688,953	2,817,355
Total Other Income Expense Net	-483,000	-2,241,000	-2,564,000	-1,061,000	-461,000	-1,992,000	2,557,000	-185,000	1,815,000	-86,000	-504,000	25,000	77,000	-279,000	-228,268	-265,306
Total Revenue	52,204,000	71,765,000	48,811,000	13,591,000	21,353,000	21,389,000	17,314,000	12,282,000	13,207,000	20,107,000	18,993,000	17,229,000	15,696,000	12,973,000	10,617,594	20,152,303

	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
Cost Of Revenue	12,070,000	11,116,000	10,059,000	10,346,000	10,346,000	14,969,000	15,158,000	12,672,000	13,043,000	10,540,000	8,618,000	7,297,000	3,274,000	3,686,000	2,025,000	4,406,000	4,381,000	4,023,000	4,603,000	4,025,000	4,193,000	4,655,000	4,443,000	4,071,000	4,017,000	3,369,000	3,398,000	3,289,000	2,598,000	3,087,000	2,466,000	2,374,000	3,032,000	2,917,000	2,942,000	2,783,000	3,983,000	3,912,000	4,159,000	3,916,000	3,324,000	3,996,000	3,504,000	3,226,000	2,850,000	3,250,000	3,385,000	3,629,000	3,322,000	3,122,000	2,985,000	2,802,000	2,024,000	2,286,000	2,630,000	2,224,000	1,235,628	2,103,000	1,995,000	1,543,000	11,971,000	0	0	0	9,409,000
Depreciation And Amortization	1,255,000	1,197,000	1,072,000	1,105,000	1,105,000	1,047,000	1,132,000	1,030,000	2,652,000	1,153,000	1,036,000	1,045,000	849,000	1,092,000	580,000	943,000	581,000	558,000	544,000	566,000	398,000	539,000	559,000	635,000	620,000	552,000	456,000	363,000	-71,000	659,000	368,000	542,000	659,000	473,000	483,000	499,000	531,000	475,000	486,000	468,000	0	430,000	480,000	455,000	409,000	397,000	379,000	400,000	383,000	318,000	288,000	306,000	346,000	315,000	325,000	324,000	253,255	391,000	382,000	380,000	0	-	-	-	0
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-2,365	781	-6,067	201,347	1,206,855	-285,395	-91,014	44,318	-63,998	0	0	0	-213,857	0	0	0	-254,711	0	0	0	0	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	993,000	2,894,000	1,144,000	837,000	837,000	2,172,000	3,944,000	3,592,000	-30,000	1,695,000	1,211,000	1,003,000	-510,000	-421,000	-342,000	-896,000	66,000	445,000	726,000	558,000	-2,321,000	276,000	922,000	-204,000	-363,000	465,000	165,000	138,000	594,000	-273,000	79,000	-634,000	-771,000	-173,000	295,000	-177,000	-298,000	595,000	783,000	351,000	-22,000	665,000	445,000	634,000	392,000	545,000	458,000	686,000	335,000	1,002,000	1,060,000	180,000	13,000	394,000	341,000	699,000	-56,987	387,000	489,000	593,000	0	0	0	0	0
Ebitda	2,248,000	4,091,000	2,216,000	1,942,000	1,942,000	3,219,000	5,076,000	4,622,000	2,622,000	2,848,000	2,247,000	2,048,000	339,000	671,000	238,000	47,000	647,000	1,003,000	1,270,000	1,124,000	-1,923,000	815,000	1,481,000	431,000	257,000	1,017,000	621,000	501,000	523,000	386,000	447,000	-92,000	-112,000	300,000	778,000	322,000	233,000	1,070,000	1,269,000	819,000	794,000	1,095,000	925,000	1,089,000	801,000	942,000	837,000	1,086,000	718,000	1,320,000	1,348,000	486,000	359,000	709,000	666,000	1,023,000	196,268	778,000	871,000	973,000	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
Extraordinary Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-6,000	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
Gross Profit	1,064,000	4,596,000	2,809,000	2,512,000	2,512,000	3,728,000	5,589,000	4,711,000	1,498,000	2,891,000	2,492,000	2,226,000	295,000	126,000	170,000	-391,000	782,000	1,045,000	1,324,000	1,170,000	323,000	1,488,000	1,584,000	632,000	1,195,000	1,084,000	683,000	653,000	1,097,000	192,000	577,000	-109,000	-77,000	391,000	837,000	382,000	355,000	1,182,000	1,401,000	911,000	1,503,000	1,199,000	1,090,000	1,151,000	952,000	1,212,000	894,000	1,057,000	1,007,000	867,000	1,100,000	829,000	807,000	936,000	688,000	1,378,000	694,966	977,000	876,000	1,193,000	4,588,000	0	0	0	0
Income Before Tax	946,000	2,425,000	1,048,000	593,000	593,000	2,253,000	3,273,000	2,168,000	-149,000	834,000	336,000	294,000	-346,000	-372,000	-367,000	-2,145,000	83,000	239,000	918,000	157,000	-1,957,000	-507,000	-390,000	-1,072,000	-1,428,000	178,000	3,263,000	260,000	162,000	-406,000	-348,000	-335,000	-882,000	2,020,000	180,000	-781,000	-520,000	533,000	824,000	-22,000	-22,000	542,000	280,000	294,000	73,000	475,000	634,000	594,000	354,000	804,000	962,000	87,000	54,000	286,000	183,000	640,000	27,745	148,000	230,000	589,000	3,093,000	0	0	0	1,827,000
Income Tax Expense	231,000	561,000	182,000	-43,000	-43,000	644,000	841,000	543,000	259,000	283,000	112,000	74,000	-193,000	-178,000	-132,000	-348,000	-30,000	52,000	-866,000	47,000	-607,000	-265,000	20,000	-158,000	-652,000	-110,000	682,000	49,000	71,000	-155,000	-81,000	-217,000	-241,000	219,000	54,000	-113,000	-48,000	179,000	209,000	36,000	36,000	172,000	101,000	123,000	191,000	186,000	238,000	168,000	88,000	294,000	307,000	40,000	-19,000	63,000	11,000	115,000	125,224	47,000	70,000	74,000	725,000	0	0	0	423,000
Interest Expense	131,000	185,000	186,000	188,000	188,000	202,000	215,000	223,000	237,000	353,000	224,000	234,000	139,000	139,000	131,000	102,000	129,000	132,000	109,000	114,000	127,000	175,000	149,000	144,000	182,000	184,000	163,000	111,000	119,000	117,000	115,000	120,000	117,000	116,000	110,000	111,000	103,000	101,000	100,000	116,000	91,000	152,000	115,000	116,000	113,000	120,000	84,000	113,000	112,000	112,000	106,000	117,000	41,000	114,000	103,000	65,000	84,732	108,000	104,000	45,000	407,000	0	0	0	410,000
Interest Income	33,000	207,000	34,000	114,000	37,000	136,000	8,000	15,000	12,000	640,000	3,000	4,000	5,000	33,000	15,000	774,000	53,000	202,000	100,000	2,000	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
Minority Interest	0	0	0	0	0	0	0	0	0	0	11,000	11,000	11,000	11,000	11,000	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
Net Income	743,000	1,864,000	866,000	636,000	636,000	1,609,000	2,432,000	1,625,000	-408,000	551,000	224,000	220,000	-153,000	-194,000	-235,000	-1,797,000	113,000	187,000	1,784,000	110,000	-1,356,000	-241,000	-418,000	-654,000	620,000	-69,000	2,640,000	211,000	91,000	-251,000	-267,000	-118,000	-641,000	1,801,000	126,000	-668,000	-472,000	354,000	615,000	-58,000	-58,000	370,000	179,000	171,000	-118,000	289,000	396,000	426,000	266,000	510,000	655,000	47,000	73,000	223,000	172,000	525,000	-97,479	101,000	160,000	515,000	380,000	1,299,000	522,000	167,000	0
Net Income Applicable To Common Shares	0	1,855,000	857,000	627,000	775,000	1,600,000	2,424,000	1,616,000	-416,000	542,000	216,000	211,000	-153,000	-194,000	-235,000	-1,797,000	113,000	187,000	1,784,000	82,657	-534,574	-188,105	-317,003	-506,466	2,463,930	219,842	1,973,004	158,492	-405,566	0	-27,853	27,680	-854,707	1,352,610	100,856	0	335,599	316,100	576,328	223,529	274,875	358,875	170,525	168,175	709,534	294,207	389,419	429,956	260,861	485,668	679,884	48,444	73,220	216,694	161,563	517,038	24,000	63,000	149,000	412,000	380,000	1,299,000	522,000	167,000	1,404,000
Net Income From Continuing Ops	743,000	1,864,000	866,000	636,000	784,000	1,609,000	2,432,000	1,625,000	-408,000	551,000	224,000	220,000	-153,000	-194,000	-235,000	-1,797,000	113,000	187,000	1,784,000	110,000	-532,208	-188,885	-310,936	-707,814	5,524,910	-5,453,673	1,502,507	158,492	-341,569	0	0	0	660,357	0	0	0	640,220	0	0	0	623,176	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	-145,000	-73,000	-159,000	-161,000	-152,000	-186,000	-187,000	-214,000	-234,000	-356,000	-229,000	-240,000	-155,000	-129,000	-124,000	-91,000	-117,000	-120,000	-96,000	-108,000	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
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
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	565,165	0	0	0	744	0	0	0	34,680	0	0	0	432,837	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
Operating Income	993,000	2,894,000	1,144,000	837,000	837,000	2,172,000	3,944,000	3,592,000	88,000	1,578,000	1,174,000	923,000	-409,000	-434,000	-335,000	-901,000	62,000	437,000	725,000	575,000	-2,319,000	268,000	928,000	-203,000	-450,000	438,000	158,000	130,000	548,000	-290,000	81,000	-641,000	-772,000	-174,000	300,000	-178,000	-299,000	597,000	759,000	336,000	311,000	650,000	429,000	616,000	180,000	517,000	458,000	657,000	305,000	971,000	1,029,000	148,000	80,000	359,000	304,000	699,000	-154,987	343,000	442,000	593,000	3,064,000	0	0	0	0
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
Other Operating Expenses	12,141,000	12,963,000	11,771,000	12,060,000	12,060,000	16,609,000	16,867,000	14,174,000	14,692,000	11,853,000	9,936,000	8,600,000	3,986,000	4,246,000	2,530,000	4,916,000	5,101,000	4,631,000	5,202,000	4,620,000	6,835,000	5,875,000	5,099,000	4,906,000	5,574,000	4,015,000	3,923,000	3,812,000	3,147,000	3,569,000	2,962,000	2,906,000	3,727,000	3,482,000	3,479,000	3,343,000	4,637,000	4,497,000	4,801,000	4,491,000	4,516,000	4,545,000	4,165,000	3,761,000	3,438,000	3,945,000	3,821,000	4,029,000	4,024,000	3,018,000	3,056,000	3,483,000	2,751,000	2,863,000	3,014,000	2,903,000	2,085,581	2,737,000	2,429,000	2,143,000	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
Reconciled Depreciation	1,270,000	1,197,000	1,072,000	1,105,000	1,155,000	1,047,000	1,132,000	1,030,000	2,652,000	1,153,000	1,036,000	1,045,000	849,000	1,092,000	580,000	943,000	581,000	558,000	544,000	566,000	398,000	539,000	559,000	635,000	659,000	552,000	456,000	363,000	-71,000	659,000	368,000	542,000	659,000	473,000	483,000	499,000	531,000	475,000	486,000	468,000	0	430,000	480,000	455,000	409,000	397,000	379,000	400,000	383,000	318,000	288,000	306,000	346,000	315,000	325,000	324,000	253,255	391,000	382,000	380,000	0	-	-	-	0
Research Development	0	0	0	0	0	0	0	0	0	0	0	0	0	3,000	2,000	3,000	4,000	6,000	6,000	4,000	2,000	4,000	7,000	12,000	21,000	6,000	5,000	4,000	6,000	5,000	7,000	18,000	7,000	6,000	7,000	7,000	6,000	3,000	4,000	10,000	10,000	4,850	5,716	2,950	15,118	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	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	270,000	213,000	0	291,000	159,651	194,000	0	166,000	0	-	-	-	0
Selling General Administrative	71,000	292,000	167,000	158,000	158,000	128,000	218,000	199,000	358,000	158,000	170,000	163,000	150,000	50,000	95,000	21,000	127,000	72,000	65,000	72,000	87,000	78,000	109,000	179,000	91,000	116,000	58,000	43,000	101,000	71,000	94,000	60,000	109,000	75,000	73,000	72,000	67,000	80,000	102,000	81,000	81,000	103,000	82,000	83,000	98,000	104,000	57,000	93,000	89,000	38,000	55,000	113,000	166,000	49,000	59,000	52,000	54,855	49,000	52,000	41,000	167,000	0	0	0	145,000
Tax Provision	231,000	561,000	182,000	-43,000	253,000	644,000	841,000	543,000	259,000	283,000	112,000	74,000	-193,000	-178,000	-132,000	-348,000	-30,000	52,000	-866,000	47,000	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
Total Operating Expenses	71,000	1,847,000	1,712,000	1,714,000	1,714,000	1,640,000	1,709,000	1,502,000	1,649,000	1,313,000	1,318,000	1,303,000	712,000	560,000	505,000	510,000	720,000	608,000	599,000	595,000	2,642,000	1,220,000	656,000	835,000	1,557,000	646,000	525,000	523,000	549,000	482,000	496,000	532,000	695,000	565,000	537,000	560,000	654,000	585,000	642,000	575,000	1,192,000	549,000	661,000	535,000	588,000	695,000	436,000	400,000	702,000	-104,000	71,000	681,000	727,000	577,000	384,000	679,000	849,953	634,000	434,000	600,000	0	0	0	0	0
Total Other Income Expense Net	-47,000	-251,000	110,000	-244,000	-244,000	81,000	-671,000	-1,424,000	236,000	-388,000	-609,000	-389,000	211,000	205,000	106,000	-1,138,000	153,000	-63,000	303,000	-296,000	492,000	-597,000	-1,165,000	-722,000	-882,000	-101,000	3,263,000	233,000	-269,000	-21,000	-314,000	419,000	5,000	2,310,000	-7,000	-493,000	-115,000	37,000	142,000	-259,000	-259,000	29,000	-48,000	-226,000	-205,000	50,000	260,000	21,000	131,000	-86,000	8,000	24,000	-26,000	6,000	-55,000	6,000	182,732	-131,000	-155,000	41,000	0	0	0	0	0
Total Revenue	13,134,000	15,712,000	12,868,000	12,858,000	12,858,000	18,697,000	20,747,000	17,383,000	14,541,000	13,431,000	11,110,000	9,523,000	3,569,000	3,812,000	2,195,000	4,015,000	5,163,000	5,068,000	5,927,000	5,195,000	4,516,000	6,143,000	6,027,000	4,703,000	5,212,000	4,453,000	4,081,000	3,942,000	3,695,000	3,279,000	3,043,000	2,265,000	2,955,000	3,308,000	3,779,000	3,165,000	4,338,000	5,094,000	5,560,000	4,827,000	4,827,000	5,195,000	4,594,000	4,377,000	3,802,000	4,462,000	4,279,000	4,686,000	4,329,000	3,989,000	4,085,000	3,631,000	2,831,000	3,222,000	3,318,000	3,602,000	1,930,594	3,080,000	2,871,000	2,736,000	3,207,000	5,533,000	4,381,000	3,438,000	13,406,000

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

Gross Profit (+$)
totalRevenue	52,204,000
Cost of Revenue	-46,044,000
Gross Profit	6,160,000	6,160,000

Operating Income (+$)
Gross Profit	6,160,000
Operating Expense	-688,000
Operating Income	5,472,000	5,472,000

Operating Expense (+$)
Research Development	0
Selling General Administrative	688,000
Selling And Marketing Expenses	0
Operating Expense	688,000	688,000

Net Interest Income (+$)
Interest Income	217,000
Interest Expense	-471,000
Other Finance Cost	-284,000
Net Interest Income	-538,000

Pretax Income (+$)
Operating Income	5,472,000
Net Interest Income	-538,000
Other Non-Operating Income Expenses	0
Income Before Tax (EBT)	4,989,000	5,955,000 EBIT - interestExpense = 5,001,000 5,040,000 4,580,000
Interest Expense	471,000
Earnings Before Interest and Taxes (EBIT)	5,472,000	5,460,000
Earnings Before Interest and Taxes (EBITDA)	10,266,000

After tax Income (+$)
Income Before Tax	4,989,000
Tax Provision	-931,000
Net Income From Continuing Ops	4,109,000	4,058,000
Net Income	4,109,000
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	46,732,000
Total Other Income/Expenses Net	-483,000	538,000

Technical Analysis of Cenovus
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 Cenovus. The general trend of Cenovus is BULLISH with 85.7% 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 Cenovus'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 (85.7%)		Bearish trend (-85.7%)
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 Cenovus Energy Inc.

The long score for the Support & Resistance is 0/1.
The longshort score for the Support & Resistance is 0/(-1 +1).

Between support/resistance: The price is trading between support and resistance lines.

The bullish price targets are: 21.90 < 23.84.

The bearish price targets are: 20.25 > 19.50 > 17.93.

Tweet this

Cenovus Energy Inc 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 Cenovus Energy Inc. The current mas is .

The long score for the Moving Averages is 13/14.
The longshort score for the Moving Averages is 12/(-14 +14).

MA 20 trending up: The MA 20 is trending up. +1
Close > MA 20: The price is above 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 above 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 lower 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.

Cenovus Energy Inc 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 Cenovus Energy Inc. The current macd is 0.52947045.

The long score for the Moving Average Convergence/Divergence (MACD) is 1/4.
The longshort score for the Moving Average Convergence/Divergence (MACD) is -2/(-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 Cenovus price going down in the near term. -2
MACD > 0: The MACD is above the zero line (centerline), it indicates a bullish signal for Cenovus. This means that the short-term moving average is higher than the long-term moving average, signaling positive momentum and suggesting a higher likelihood of the Cenovus price continuing to rise in the near future. It indicates that buyers are gaining control, and there is optimism in the market, leading to potential price increases. +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

Cenovus Energy Inc 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 Cenovus Energy Inc. The current adx is 39.18.

The long score for the Directional Movement Index (DMI) is 3/7.
The longshort score for the Directional Movement Index (DMI) is 3/(-7 +7).

PLUS_ID > MINUS_DI: The +DI line is above the -DI line. This indicates a bullish signal in the market, as the positive directional movement is currently stronger than the negative directional movement, showing that buyers have the upper hand. Market psychology suggests that traders are optimistic, expecting further price increases, and are more willing to buy Cenovus shares, leading to potential upward momentum in its price. +1
PLUS_ID > MINUS_DI && ADX > 25 && ADX trending down: The ADX is above 25 and indicates a strong bullish trend. The ADX is declining, the bullish trend is weakening. Could be a potential reversal to the downside. +2

Cenovus Energy Inc 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 Cenovus Energy Inc. The current sar is 20.38.

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

Close > SAR: The price is above the SAR. It's generally considered a bullish signal. +1

Cenovus Energy Inc 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 Cenovus Energy Inc. The current rsi is 70.33. The current phase is Overbought in bull market.

The long score for the Relative Strength Index (RSI) is 1/13.
The longshort score for the Relative Strength Index (RSI) is 0/(-13 +13).

Overbought in bull market: Short-term excessive buying, potential for pullback. Consider taking profits, be cautious of potential correction. -1
Trending up: The RSI is trending up. +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.

Cenovus Energy Inc 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 Cenovus Energy Inc. The current phase is Continuation in bull market.

The long score for the Stochastic Oscillator is 4/6.
The longshort score for the Stochastic Oscillator is 4/(-6 +6).

STOCH > 50: The STOCH %K is above 50. There are more buyers than sellers. +1
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 Cenovus price going up in the near term. +2
Trending up: The STOCH %K is trending up. +1

Cenovus Energy Inc 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 Cenovus Energy Inc. The current cci is 77.46.

Cenovus Energy Inc 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 Cenovus Energy Inc. The current cmo is 41.48.

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

CMO > 0: The CMO is above 0, the momentum of the price is positive, indicating a potential uptrend in the price. +1

Cenovus Energy Inc 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 Cenovus Energy Inc. The current willr is -26.58610272.

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

WILLR between -80 and -20: The Williams %R is between -80 and -20. This indicates that Cenovus is trading in a neutral price range, neither oversold nor overbought, suggesting a balanced market condition without any extreme price signals.

Cenovus Energy Inc 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 Cenovus Energy Inc.

Cenovus Energy Inc 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 Cenovus Energy Inc. The current atr is 0.46489687.

Cenovus Energy Inc 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 Cenovus Energy Inc. The current obv is 233,554,740.

Cenovus Energy Inc 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 Cenovus Energy Inc. The current mfi is 52.93.

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

MFI > 50: +1

Cenovus Energy Inc Daily Money Flow Index (MFI) Chart

6. Summary

6.1. Notifications

Type	Notification	Date
Currently no notifications for Cenovus Energy Inc.

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
2023-12-05	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
2023-12-07	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-12	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-13	RSI	LONG ENTRY	SHORT CLOSE	30 crossover to upside
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-14	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2023-12-15	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2023-12-19	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2023-12-20	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2023-12-21	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2023-12-26	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2023-12-27	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-28	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
2024-01-03	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
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-01-04	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).
2024-01-08	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-09	STOCH	LONG EXIT		The %K line crosses below the %D line.
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-01-11	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-01-12	BB	LONG ENTRY	SHORT CLOSE	Price closed below the lower band.
2024-01-16	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-17	MFI	SHORT ENTRY	LONG CLOSE	20 crossover to downside
2024-01-19	MFI	LONG ENTRY	SHORT CLOSE	20 crossover to upside
2024-01-22	RSI	LONG ENTRY	SHORT CLOSE	30 crossover to upside
2024-01-25	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-01-26	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-01-31	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-02	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
2024-02-06	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-07	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-02-08	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-02-12	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-02-13	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-15	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	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).
2024-02-20	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-21	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-02-27	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-28	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
2024-03-01	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-03-04	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-06	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-03-07	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
2024-03-11	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-13	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	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).
2024-03-15	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-18	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-19	MFI	LONG ENTRY	SHORT CLOSE	80 crossover to upside
2024-03-20	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-21	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-03-25	STOCH	LONG EXIT		The %K line crosses below the %D line.
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-03-28	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-02	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-03	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-04-04	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-09	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-11	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
	MFI	SHORT ENTRY	LONG CLOSE	80 crossover to downside
2024-04-12	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
2024-04-15	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
2024-04-22	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-23	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.

6.3. Candlestick Patterns

Cenovus Energy Inc Daily Candlestick Chart

Date	Candlestick Pattern

6.4. Technical Score

Let's check the technical score of Cenovus Energy Inc based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	70.331
Ma 20	Greater than	Ma 50	21.031
Ma 50	Greater than	Ma 100	19.366
Ma 100	Greater than	Ma 200	17.748
Open	Greater than	Close	21.270
Total			3/5 (60.0%)

Create your own Symbol Scanner

Get notifications about Cenovus Energy Inc

I send you an email if I find something interesting about Cenovus Energy Inc.

Cenovus Energy Inc Buy, Hold or Sell?

Let's analyse Cenovus together

Get notifications about Cenovus Energy Inc

Quick analysis of Cenovus (30 sec.)

What can you expect buying and holding a share of Cenovus? (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 Cenovus (5 min.)

$21.46

$11.16

$14.60 - $41.04

$25.77 - $52.20

2. Growth of Cenovus (5 min.)

Is Cenovus growing?

How much money is Cenovus making?

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

3. Financial Health of Cenovus (5 min.)

4. Comparing to competitors in the Oil & Gas Integrated industry (5 min.)

Industry Rankings (Oil & Gas Integrated)

What can you expect buying and holding a share of Cenovus? (5 min.)

What can you expect buying and holding a share of Cenovus?

Speculation

Investing

How much money are you going to get?

When do you get the money?

How sure are you?

Linear %

Fundamentals of Cenovus

About Cenovus Energy Inc

Financial Health

Valuation

1.1. Profitability of Cenovus Energy Inc.

1.1. Profitability

1.1.1. Net Profit Margin

Trends

Compared to industry (Oil & Gas Integrated)

1.1.2. Return on Assets

Trends

Compared to industry (Oil & Gas Integrated)

1.1.3. Return on Equity

Trends

Compared to industry (Oil & Gas Integrated)

1.2. Operating Efficiency of Cenovus Energy Inc.

1.2. Operating Efficiency

1.2.1. Operating Margin

Trends

Compared to industry (Oil & Gas Integrated)

1.2.2. Operating Ratio

Trends

Compared to industry (Oil & Gas Integrated)

1.3. Liquidity of Cenovus Energy Inc.

1.3. Liquidity

1.3.1. Current Ratio

Trends

Compared to industry (Oil & Gas Integrated)

1.3.2. Quick Ratio

Trends

Compared to industry (Oil & Gas Integrated)

1.4. Solvency of Cenovus Energy Inc.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Trends

Compared to industry (Oil & Gas Integrated)

1.4.2. Debt to Equity Ratio

Trends

Compared to industry (Oil & Gas Integrated)

2. Market Valuation of Cenovus Energy Inc

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Trends

Compared to industry (Oil & Gas Integrated)

Cenovus Energy Inc
Buy, Hold or Sell?