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Exchange Income Corporation
Buy, Hold or Sell?

I guess you are interested in Exchange Income Corporation. Buy, hold or sell? I don't know! However, I do recommend doing research before doing anything. I will help you with that.

Let's analyse Exchange Income Corporation

Let's start. I'm going to help you getting a better view of Exchange Income Corporation. 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.

  1. Company's Financial Health
    A deep dive into the books. How are the numbers doing? Is Exchange Income Corporation even making a profit? Is the company skyrocketing? Or is it sinking like the Titanic. The trend is your friend.
  2. Market Valuation
    Finally, you now have an insight of how Exchange Income Corporation is doing in the market. If the company is worth buying. The latest step is to find out how other investors value Exchange Income Corporation. The closing price on 2022-09-30 was C$41.44 per share. Is the company over- or underpriced?
  3. Key Performance Indicators
    A total overlook on how the company is doing. Based on the (trends in) the key performance indicators.
Exchange Income Corporation Daily Candlestick Chart


Summary

Financial Health

Profitability Details
 Compared to previous yearCompared to industry
The company is making a profit.
Using its assets, the company is inefficient in making profit.
Using its investors money, the company is inefficient in making profit.
Operating Efficiency Details
 Compared to previous yearCompared to industry
The company is operating less efficient.
The company is inefficient in keeping operating costs low.
Liquidity Details
 Compared to previous yearCompared 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 yearCompared to industry
The company is able to pay all its debts by selling its assets.
The company is just not able to pay all its debts with equity.

1.1. Profitability of Exchange Income Corporation.

1.1. Profitability

An important factor of a company's health is the profitability.

1.1.1. Net Profit Margin

Measures how much net profit Exchange Income Corporation earns for each $1 of revenue.

  • Above 10% is considered healthy but always compare Exchange Income Corporation to the Airlines industry mean.
  • A Net Profit Margin of 4.5% means that $0.04 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Exchange Income Corporation:

  • The MRQ is 5.7%. The company is making a profit. +1
  • The TTM is 4.5%. The company is making a profit. +1
Trends
Current periodCompared to+/- 
MRQ5.7%TTM4.5%+1.2%
TTM4.5%YOY4.4%+0.1%
TTM4.5%5Y4.9%-0.4%
5Y4.9%10Y4.3%+0.6%
Compared to industry (Airlines)
PeriodCompanyIndustry (mean)+/- 
MRQ5.7%-7.1%+12.8%
TTM4.5%-11.9%+16.4%
YOY4.4%-57.7%+62.1%
5Y4.9%-20.7%+25.6%
10Y4.3%-11.5%+15.8%
1.1.2. Return on Assets

Shows how efficient Exchange Income Corporation is using its assets to generate profit.

  • Above 5% is considered healthy but always compare Exchange Income Corporation to the Airlines industry mean.
  • 0.7% Return on Assets means that Exchange Income Corporation generated $0.01 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Exchange Income Corporation:

  • The MRQ is 0.9%. Using its assets, the company is inefficient in making profit. -1
  • The TTM is 0.7%. Using its assets, the company is inefficient in making profit. -1
Trends
Current periodCompared to+/- 
MRQ0.9%TTM0.7%+0.2%
TTM0.7%YOY0.6%+0.1%
TTM0.7%5Y0.8%0.0%
5Y0.8%10Y0.7%+0.0%
Compared to industry (Airlines)
PeriodCompanyIndustry (mean)+/- 
MRQ0.9%-0.9%+1.8%
TTM0.7%-1.1%+1.8%
YOY0.6%-2.4%+3.0%
5Y0.8%-0.5%+1.3%
10Y0.7%0.1%+0.6%
1.1.3. Return on Equity

Shows how efficient Exchange Income Corporation is using its investors money to generate profit.

  • Above 15%-20% is considered healthy but always compare Exchange Income Corporation to the Airlines industry mean.
  • 3.5% Return on Equity means the company generated $0.04 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Exchange Income Corporation:

  • The MRQ is 3.5%. Using its investors money, the company is inefficient in making profit. -1
  • The TTM is 2.4%. Using its investors money, the company is inefficient in making profit. -1
Trends
Current periodCompared to+/- 
MRQ3.5%TTM2.4%+1.1%
TTM2.4%YOY1.9%+0.5%
TTM2.4%5Y2.4%0.0%
5Y2.4%10Y1.4%+1.0%
Compared to industry (Airlines)
PeriodCompanyIndustry (mean)+/- 
MRQ3.5%-1.6%+5.1%
TTM2.4%-4.3%+6.7%
YOY1.9%-6.7%+8.6%
5Y2.4%-3.0%+5.4%
10Y1.4%-1.4%+2.8%

1.2. Operating Efficiency of Exchange Income Corporation.

1.2. Operating Efficiency
1.2.1. Operating Margin

Measures how efficient Exchange Income Corporation is operating .

  • Measures how much profit Exchange Income Corporation 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 Exchange Income Corporation to the Airlines industry mean.
  • An Operating Margin of 11.8% means the company generated $0.12  for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Exchange Income Corporation:

  • The MRQ is 11.8%. The company is operating less efficient.
  • The TTM is 9.6%. The company is operating less efficient.
Trends
Current periodCompared to+/- 
MRQ11.8%TTM9.6%+2.2%
TTM9.6%YOY8.6%+1.0%
TTM9.6%5Y7.6%+2.0%
5Y7.6%10Y6.6%+1.0%
Compared to industry (Airlines)
PeriodCompanyIndustry (mean)+/- 
MRQ11.8%-2.8%+14.6%
TTM9.6%-7.6%+17.2%
YOY8.6%-40.7%+49.3%
5Y7.6%-16.9%+24.5%
10Y6.6%-9.7%+16.3%
1.2.2. Operating Ratio

Measures how efficient Exchange Income Corporation is keeping operating costs low.

  • Below 1 is considered healthy (always compare to Airlines industry mean).
  • An Operation Ratio of 165.3% means that the operating costs are $1.65for each $1 in net sales.

Let's take a look of the Operating Ratio trends of Exchange Income Corporation:

  • The MRQ is 1.653. The company is inefficient in keeping operating costs low. -1
  • The TTM is 1.616. The company is inefficient in keeping operating costs low. -1
Trends
Current periodCompared to+/- 
MRQ1.653TTM1.616+0.037
TTM1.616YOY1.276+0.340
TTM1.6165Y1.112+0.504
5Y1.11210Y1.012+0.100
Compared to industry (Airlines)
PeriodCompanyIndustry (mean)+/- 
MRQ1.6531.796-0.143
TTM1.6161.919-0.303
YOY1.2762.108-0.832
5Y1.1121.836-0.724
10Y1.0121.439-0.427

1.3. Liquidity of Exchange Income Corporation.

1.3. Liquidity
1.3.1. Current Ratio

Measures if Exchange Income Corporation is able to pay off Short-term Debt.

  • Above 1.5 is considered healthy (always compare to Airlines industry mean).
  • A Current Ratio of 188.9% means the company has $1.89 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of Exchange Income Corporation:

  • The MRQ is 1.889. The company is able to pay all its short-term debts. +1
  • The TTM is 1.770. The company is able to pay all its short-term debts. +1
Trends
Current periodCompared to+/- 
MRQ1.889TTM1.770+0.119
TTM1.770YOY1.993-0.223
TTM1.7705Y2.051-0.282
5Y2.05110Y2.022+0.029
Compared to industry (Airlines)
PeriodCompanyIndustry (mean)+/- 
MRQ1.8890.794+1.095
TTM1.7700.750+1.020
YOY1.9930.652+1.341
5Y2.0510.755+1.296
10Y2.0220.636+1.386
1.3.2. Quick Ratio

Measures if Exchange Income Corporation is able to pay off Short-term Debt but only using the most liquid assets.

  • Above 1 is considered healthy (always compare to Airlines industry mean)
  • A Quick Ratio of 103.6% means the company can pay off $1.04 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Exchange Income Corporation:

  • The MRQ is 1.036. The company is just able to pay all its short-term debts with the most liquid assets.
  • The TTM is 0.993. The company is just not able to pay all its short-term debts with the most liquid assets. -1
Trends
Current periodCompared to+/- 
MRQ1.036TTM0.993+0.042
TTM0.993YOY1.157-0.163
TTM0.9935Y1.104-0.110
5Y1.10410Y1.101+0.003
Compared to industry (Airlines)
PeriodCompanyIndustry (mean)+/- 
MRQ1.0360.288+0.748
TTM0.9930.303+0.690
YOY1.1570.276+0.881
5Y1.1040.299+0.805
10Y1.1010.298+0.803

1.4. Solvency of Exchange Income Corporation.

1.3. Liquidity
1.4.1. Debt to Asset Ratio

Measures how much % of Exchange Income Corporation assets are financed with debt.

  • Below 1 (100%) is considered healthy (always compare to Airlines industry mean).
  • A Debt to Asset Ratio of 0.74 means that Exchange Income Corporation assets are financed with 73.9% credit (debt) and the remaining percentage (100% - 73.9%) is financed by its owners/shareholders.

Let's take a look of the Debt to Asset Ratio trends of Exchange Income Corporation:

  • The MRQ is 0.739. The company is able to pay all its debts by selling its assets. +1
  • The TTM is 0.705. The company is able to pay all its debts by selling its assets. +1
Trends
Current periodCompared to+/- 
MRQ0.739TTM0.705+0.034
TTM0.705YOY0.697+0.008
TTM0.7055Y0.693+0.012
5Y0.69310Y0.671+0.022
Compared to industry (Airlines)
PeriodCompanyIndustry (mean)+/- 
MRQ0.7390.867-0.128
TTM0.7050.855-0.150
YOY0.6970.813-0.116
5Y0.6930.786-0.093
10Y0.6710.757-0.086
1.4.2. Debt to Equity Ratio

Measures if Exchange Income Corporation is able to pay off its debts by using shareholders equity.

  • Below 2 is considered healthy (always compare to Airlines industry mean).
  • A Debt to Equity ratio of 283.0% means that company has $2.83 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Exchange Income Corporation:

  • The MRQ is 2.830. The company is unable to pay all its debts with equity. -1
  • The TTM is 2.406. The company is just not able to pay all its debts with equity.
Trends
Current periodCompared to+/- 
MRQ2.830TTM2.406+0.425
TTM2.406YOY2.309+0.096
TTM2.4065Y2.269+0.137
5Y2.26910Y1.266+1.003
Compared to industry (Airlines)
PeriodCompanyIndustry (mean)+/- 
MRQ2.8304.177-1.347
TTM2.4064.360-1.954
YOY2.3093.544-1.235
5Y2.2694.105-1.836
10Y1.2663.737-2.471

2. Market Valuation of Exchange Income Corporation

2. Earnings
2.1. Price to Earnings Ratio

Measures how many years it takes to double your invested money in Exchange Income Corporation.

  • Above 15 is considered overpriced but is hard to determine (always use industry average).
  • A PE ratio of 20.89 means the investor is paying $20.89 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Exchange Income Corporation:

  • The EOD is 20.542. Neutral. Compare to industry.
  • The MRQ is 20.889. Neutral. Compare to industry.
  • The TTM is 24.312. Neutral. Compare to industry.
Trends
Current periodCompared to+/- 
EOD20.542MRQ20.889-0.347
MRQ20.889TTM24.312-3.423
TTM24.312YOY33.746-9.435
TTM24.3125Y21.844+2.468
5Y21.84410Y22.750-0.906
Compared to industry (Airlines)
PeriodCompanyIndustry (mean)+/- 
EOD20.542-1.896+22.438
MRQ20.889-2.047+22.936
TTM24.312-3.427+27.739
YOY33.746-2.367+36.113
5Y21.8441.064+20.780
10Y22.7501.674+21.076
2.2. Price Earnings to Growth Ratio

Measures the predicted future growth of Exchange Income Corporation.

  • Lower is better
  • A PEG ratio of 1 means the investor is paying a fair price for the stock

Let's take a look of the Price Earnings to Growth Ratio trends of Exchange Income Corporation:

  • The MRQ is 0.611. Good. +1
  • The TTM is 0.497. Very good. +2
Trends
Current periodCompared to+/- 
MRQ0.611TTM0.497+0.114
TTM0.497YOY0.103+0.394
TTM0.4975Y-2.201+2.698
5Y-2.20110Y-1.043-1.159
Compared to industry (Airlines)
PeriodCompanyIndustry (mean)+/- 
MRQ0.6110.013+0.598
TTM0.4970.044+0.453
YOY0.1030.004+0.099
5Y-2.2010.001-2.202
10Y-1.043-0.006-1.037

2. Books
2.3. Price to Book Ratio

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

  • At or below 1 is considered healthy (always compare to Airlines industry mean).
  • A PB ratio of 1.98 means the investor is paying $1.98 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of Exchange Income Corporation:

  • The EOD is 1.951. Good. +1
  • The MRQ is 1.984. Good. +1
  • The TTM is 2.079. Good. +1
Trends
Current periodCompared to+/- 
EOD1.951MRQ1.984-0.033
MRQ1.984TTM2.079-0.095
TTM2.079YOY1.886+0.193
TTM2.0795Y1.934+0.145
5Y1.93410Y2.020-0.086
Compared to industry (Airlines)
PeriodCompanyIndustry (mean)+/- 
EOD1.9511.575+0.376
MRQ1.9841.797+0.187
TTM2.0791.803+0.276
YOY1.8861.348+0.538
5Y1.9341.437+0.497
10Y2.0201.343+0.677

2.4. Latest News of Exchange Income Corporation

Does Exchange Income Corporation still have the same value as the quarterly reports suggest? Recent changes may be an indication that the value of the company is changing. Read the news from Exchange Income Corporation to keep up to date. Note: the news is often already included in the price.

DateTitleRead
2022-09-16
15:32
Exchange Income (TSE:EIF) shareholders have earned a 15% CAGR over the last five yearsRead

3. Summary

3.1. Key Performance Indicators

The key performance indicators of Exchange Income Corporation compared to the Most Recent Quarter (MRQ).

 End of day+/-Most Recent QuarterTrailing 12 Months+/-Year-Over-Year+/-5 Year+/-10 Year+/-
Book Value Per Share--21.23620.620+3%19.541+9%18.689+14%15.878+34%
Book Value Per Share Growth--1.0620.351+202%-0.119+111%0.313+239%0.189+461%
Current Ratio--1.8891.770+7%1.993-5%2.051-8%2.022-7%
Debt To Asset Ratio--0.7390.705+5%0.697+6%0.693+7%0.671+10%
Debt To Equity Ratio--2.8302.406+18%2.309+23%2.269+25%1.266+124%
Dividend Per Share--0.5850.572+2%0.569+3%0.528+11%0.459+27%
Eps--0.7510.504+49%0.376+100%0.440+71%0.402+87%
Eps Growth--34.17563.098-46%-34.698+202%3.369+914%20.601+66%
Gains Per Share--1.6460.923+78%0.450+266%0.842+96%0.648+154%
Gross Profit Margin--1.0001.0000%1.0000%1.0000%1.0000%
Net Profit Margin--0.0570.045+26%0.044+28%0.049+15%0.043+32%
Operating Margin--0.1180.096+23%0.086+38%0.076+55%0.066+78%
Operating Ratio--1.6531.616+2%1.276+30%1.112+49%1.012+63%
Pb Ratio1.951-2%1.9842.079-5%1.886+5%1.934+3%2.020-2%
Pe Ratio20.542-2%20.88924.312-14%33.746-38%21.844-4%22.750-8%
Peg Ratio--0.6110.497+23%0.103+495%-2.201+460%-1.043+271%
Price Per Share41.440-2%42.14042.848-2%36.778+15%35.760+18%31.359+34%
Quick Ratio--1.0360.993+4%1.157-10%1.104-6%1.101-6%
Return On Assets--0.0090.007+30%0.006+59%0.008+23%0.007+26%
Return On Equity--0.0350.024+46%0.019+85%0.024+45%0.014+148%
 EOD+3 -0MRQTTM+14 -5YOY+11 -85Y+11 -810Y+12 -7

3.2. Fundamental Score

Let's check the fundamental score of Exchange Income Corporation based on Penke's default stock scanner.

Penke's Stock Scanner

  
  
IndicatorConditionValue
Price to Earnings Ratio (EOD)Between0-1520.542
Price to Book Ratio (EOD)Between0-11.951
Net Profit Margin (MRQ)Greater than00.057
Operating Margin (MRQ)Greater than00.118
Quick Ratio (MRQ)Greater than11.036
Current Ratio (MRQ)Greater than11.889
Debt to Asset Ratio (MRQ)Less than10.739
Debt to Equity Ratio (MRQ)Less than12.830
Return on Equity (MRQ)Greater than0.150.035
Return on Assets (MRQ)Greater than0.050.009
Total5/10 (50.0%)

3.3. Technical Score

Let's check the technical score of Exchange Income Corporation based on Penke's default Symbol scanner.

Penke's Symbol Scanner

  
  
IndicatorConditionValue
RsiGreater than5027.635
Ma 20Greater thanMa 5045.664
Ma 50Greater thanMa 10046.672
Ma 100Greater thanMa 20045.481
OpenGreater thanClose41.740
Total3/5 (60.0%)



Reversals in quarterly reports

I have detected a reversal (positive to negative, negative to positive) in the following values of the quarterly reports.

 2021-06-302021-09-302021-12-312022-03-312022-06-30
Net Tangible Assets  201,688-22,973178,715-45,979132,736-11,410121,326-173,805-52,479



Latest Balance Sheet

Balance Sheet of 2022-06-30. Currency in CAD. All numbers in thousands.

Summary
Total Assets3,246,246
Total Liabilities2,398,763
Total Stockholder Equity847,483
 As reported
Total Liabilities 2,398,763
Total Stockholder Equity+ 847,483
Total Assets = 3,246,246

Assets

Total Assets3,246,246
Total Current Assets938,983
Long-term Assets938,983
Total Current Assets
Cash And Cash Equivalents 60,270
Net Receivables 454,661
Inventory 325,682
Total Current Assets  (as reported)938,983
Total Current Assets  (calculated)840,613
+/- 98,370
Long-term Assets
Property Plant Equipment 1,299,100
Goodwill 726,424
Long Term Investments 77,523
Intangible Assets 173,538
Other Assets 30,678
Long-term Assets  (as reported)2,307,263
Long-term Assets  (calculated)2,307,263
+/-0

Liabilities & Shareholders' Equity

Total Current Liabilities497,208
Long-term Liabilities1,901,555
Total Stockholder Equity847,483
Total Current Liabilities
Accounts payable 374,733
Other Current Liabilities 100,467
Total Current Liabilities  (as reported)497,208
Total Current Liabilities  (calculated)475,200
+/- 22,008
Long-term Liabilities
Long term Debt Total 1,736,039
Other Liabilities 152,771
Long-term Liabilities  (as reported)1,901,555
Long-term Liabilities  (calculated)1,888,810
+/- 12,745
Total Stockholder Equity
Common Stock899,404
Retained Earnings -131,940
Capital Surplus 16,635
Other Stockholders Equity 63,384
Total Stockholder Equity (as reported)847,483
Total Stockholder Equity (calculated)847,483
+/-0
Other
Capital Stock899,404
Cash And Equivalents60,270
Cash and Short Term Investments 60,270
Common Stock Shares Outstanding 39,907
Liabilities and Stockholders Equity 3,246,246
Net Debt 1,593,374
Net Invested Capital 2,501,127
Net Tangible Assets -52,479
Net Working Capital 441,775



Balance Sheet

Currency in CAD. All numbers in thousands.

 Trend2022-06-302022-03-312021-12-312021-09-302021-06-302021-03-312020-12-312020-09-302020-06-302020-03-312019-12-312019-09-302019-06-302019-03-312018-12-312018-09-302018-06-302018-03-312017-12-312017-09-302017-06-302017-03-312016-12-312016-09-302016-06-302016-03-312015-12-312015-09-302015-06-302015-03-312014-12-312014-09-302014-06-302014-03-312013-12-312013-09-302013-06-302013-03-312012-12-312012-09-302012-06-302012-03-312011-12-312011-09-302011-06-302011-03-312010-12-312010-09-302010-06-302010-03-312009-12-312009-09-302009-06-302009-03-312008-12-312008-09-302008-06-302008-03-312007-12-312007-09-302007-06-302007-03-312006-12-312006-09-302006-06-302006-03-312005-12-312005-09-302003-09-302003-06-302003-03-31
> Total Assets 
403
385
357
67,649
74,090
77,903
78,400
81,314
90,047
111,758
117,429
121,186
121,622
154,242
156,355
163,945
161,330
160,712
233,622
272,585
267,809
268,084
286,084
306,020
337,007
355,279
472,167
472,321
478,401
525,327
609,819
655,621
709,370
721,102
904,207
938,958
961,372
1,020,821
1,004,052
1,034,180
715,103
1,092,655
1,123,035
1,241,975
1,229,056
1,251,103
1,265,001
1,337,875
1,424,532
1,487,078
1,531,644
1,559,069
1,749,197
1,779,222
1,946,400
1,904,671
1,957,298
2,103,285
2,131,358
2,205,916
2,266,557
2,452,519
2,300,856
2,387,183
2,294,184
2,319,135
2,317,597
2,497,506
2,588,667
2,626,342
3,246,246
3,246,2462,626,3422,588,6672,497,5062,317,5972,319,1352,294,1842,387,1832,300,8562,452,5192,266,5572,205,9162,131,3582,103,2851,957,2981,904,6711,946,4001,779,2221,749,1971,559,0691,531,6441,487,0781,424,5321,337,8751,265,0011,251,1031,229,0561,241,9751,123,0351,092,655715,1031,034,1801,004,0521,020,821961,372938,958904,207721,102709,370655,621609,819525,327478,401472,321472,167355,279337,007306,020286,084268,084267,809272,585233,622160,712161,330163,945156,355154,242121,622121,186117,429111,75890,04781,31478,40077,90374,09067,649357385403
   > Total Current Assets 
399
380
354
19,409
20,425
20,560
20,792
22,421
26,829
33,566
35,880
36,376
36,342
47,885
47,513
53,061
52,472
51,724
61,283
67,932
59,974
60,547
64,254
73,460
97,604
80,033
151,769
150,167
151,292
159,444
231,449
285,552
329,726
338,842
432,999
454,337
466,152
520,731
507,398
544,554
199,319
297,365
292,785
331,937
317,214
327,566
313,411
318,550
348,548
354,796
370,765
392,469
502,806
464,343
599,535
545,086
540,280
555,997
576,135
616,406
588,239
703,888
604,081
658,501
618,956
642,219
632,573
692,289
700,458
736,224
938,983
938,983736,224700,458692,289632,573642,219618,956658,501604,081703,888588,239616,406576,135555,997540,280545,086599,535464,343502,806392,469370,765354,796348,548318,550313,411327,566317,214331,937292,785297,365199,319544,554507,398520,731466,152454,337432,999338,842329,726285,552231,449159,444151,292150,167151,76980,03397,60473,46064,25460,54759,97467,93261,28351,72452,47253,06147,51347,88536,34236,37635,88033,56626,82922,42120,79220,56020,42519,409354380399
       Cash And Cash Equivalents 
397
377
353
1,412
0
158
950
2,276
4,603
2,382
3,504
106
1,153
3,773
1,297
7,185
4,034
5,002
9,617
10,221
4,857
4,504
2,099
6,216
1,471
8,740
8,051
7,413
11,475
5,940
5,138
10,944
4,166
2,787
8,355
15,891
23,168
26,788
16,403
7,008
14,968
68,271
33,246
35,460
15,497
29,353
15,513
15,975
26,494
21,058
14,113
18,760
72,315
14,394
85,463
25,229
42,970
39,803
33,254
51,221
22,055
118,220
66,181
82,562
69,862
83,711
43,464
76,931
75,408
69,319
60,270
60,27069,31975,40876,93143,46483,71169,86282,56266,181118,22022,05551,22133,25439,80342,97025,22985,46314,39472,31518,76014,11321,05826,49415,97515,51329,35315,49735,46033,24668,27114,9687,00816,40326,78823,16815,8918,3552,7874,16610,9445,1385,94011,4757,4138,0518,7401,4716,2162,0994,5044,85710,2219,6175,0024,0347,1851,2973,7731,1531063,5042,3824,6032,27695015801,412353377397
       Net Receivables 
0
0
0
10,504
11,531
11,556
11,250
9,667
11,002
12,975
12,231
14,878
15,429
19,197
21,419
21,366
21,863
19,357
21,034
22,745
20,922
20,041
23,548
29,301
30,276
35,745
70,122
65,752
69,172
61,711
99,609
203,598
255,476
257,450
317,923
327,234
323,414
368,411
362,610
104,081
94,082
118,163
132,726
154,994
144,165
147,324
154,727
156,933
157,905
145,626
175,747
200,610
222,162
229,190
278,525
270,312
247,494
254,703
268,797
296,341
310,123
305,448
268,707
310,041
285,257
290,328
316,069
322,316
329,472
332,837
454,661
454,661332,837329,472322,316316,069290,328285,257310,041268,707305,448310,123296,341268,797254,703247,494270,312278,525229,190222,162200,610175,747145,626157,905156,933154,727147,324144,165154,994132,726118,16394,082104,081362,610368,411323,414327,234317,923257,450255,476203,59899,60961,71169,17265,75270,12235,74530,27629,30123,54820,04120,92222,74521,03419,35721,86321,36621,41919,19715,42914,87812,23112,97511,0029,66711,25011,55611,53110,504000
   > Long-term 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
1,547,288
1,555,223
1,589,510
1,678,318
1,748,631
1,696,775
1,728,682
1,675,228
1,676,916
1,685,024
1,805,217
1,888,209
1,890,118
2,307,263
2,307,2631,890,1181,888,2091,805,2171,685,0241,676,9161,675,2281,728,6821,696,7751,748,6311,678,3181,589,5101,555,2231,547,288000000000000000000000000000000000000000000000000000000000
       Property Plant Equipment 
4
3
3
35,645
41,556
45,401
45,833
46,719
48,591
51,529
53,263
56,334
56,448
60,563
60,358
63,907
65,026
64,175
115,209
113,817
119,400
120,806
136,173
148,950
158,439
191,496
215,540
217,800
220,190
248,031
261,887
257,958
269,036
272,852
304,926
322,620
331,351
335,639
341,421
344,135
364,914
468,426
512,102
540,385
542,629
559,474
590,289
644,061
693,993
753,271
777,761
778,253
796,576
818,904
824,997
828,688
877,691
1,018,015
1,021,303
1,051,676
1,073,695
1,122,004
1,093,269
1,065,539
1,040,520
1,046,774
1,058,129
1,125,952
1,154,012
1,149,135
1,299,100
1,299,1001,149,1351,154,0121,125,9521,058,1291,046,7741,040,5201,065,5391,093,2691,122,0041,073,6951,051,6761,021,3031,018,015877,691828,688824,997818,904796,576778,253777,761753,271693,993644,061590,289559,474542,629540,385512,102468,426364,914344,135341,421335,639331,351322,620304,926272,852269,036257,958261,887248,031220,190217,800215,540191,496158,439148,950136,173120,806119,400113,817115,20964,17565,02663,90760,35860,56356,44856,33453,26351,52948,59146,71945,83345,40141,55635,645334
       Goodwill 
0
0
0
0
10,353
10,353
10,353
10,353
12,292
25,638
26,890
27,149
21,925
38,916
42,002
37,422
35,284
35,809
48,584
46,791
40,446
39,988
40,652
40,198
39,678
46,354
66,809
68,837
68,427
73,155
73,698
72,736
73,516
74,088
108,136
106,167
107,435
109,843
107,666
96,821
98,603
269,843
214,311
244,427
246,074
245,273
245,417
260,647
259,887
259,545
258,086
255,798
288,281
332,902
317,620
316,179
320,678
319,387
318,110
318,833
359,764
366,769
363,413
417,480
397,589
396,255
394,713
447,232
486,875
484,535
726,424
726,424484,535486,875447,232394,713396,255397,589417,480363,413366,769359,764318,833318,110319,387320,678316,179317,620332,902288,281255,798258,086259,545259,887260,647245,417245,273246,074244,427214,311269,84398,60396,821107,666109,843107,435106,167108,13674,08873,51672,73673,69873,15568,42768,83766,80946,35439,67840,19840,65239,98840,44646,79148,58435,80935,28437,42242,00238,91621,92527,14926,89025,63812,29210,35310,35310,35310,3530000
       Long Term Investments 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
10,827
0
0
0
16,269
0
0
30,707
34,386
35,954
46,320
49,844
42,372
46,533
49,981
50,836
48,994
53,461
52,917
57,559
58,827
66,031
77,523
77,52366,03158,82757,55952,91753,46148,99450,83649,98146,53342,37249,84446,32035,95434,38630,7070016,26900010,827000000000000000000000000000000000000000000000000
       Intangible Assets 
0
0
0
11,270
498
444
390
352
836
738
641
546
6,907
6,878
6,482
9,555
8,548
9,004
8,546
7,816
13,371
12,995
12,792
12,466
12,842
14,666
23,792
23,726
23,252
28,859
28,609
28,063
28,393
28,194
46,590
45,474
46,415
46,782
45,346
42,524
42,760
45,403
93,691
114,788
112,813
108,993
106,297
104,231
107,277
104,712
102,349
99,785
135,706
132,159
149,216
144,948
144,571
139,972
136,066
133,341
164,658
158,193
154,443
151,797
161,772
157,898
154,887
152,591
180,664
177,960
173,538
173,538177,960180,664152,591154,887157,898161,772151,797154,443158,193164,658133,341136,066139,972144,571144,948149,216132,159135,70699,785102,349104,712107,277104,231106,297108,993112,813114,78893,69145,40342,76042,52445,34646,78246,41545,47446,59028,19428,39328,06328,60928,85923,25223,72623,79214,66612,84212,46612,79212,99513,3717,8168,5469,0048,5489,5556,4826,8786,90754664173883635239044449811,270000
       Other 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
4,000
14,754
22,683
32,764
9,559
30,914
55,032
39,063
39,692
69,914
79,744
85,660
37,829
55,132
35,669
43,030
26,353
22,528
24,378
21,883
7,831
12,457
30,678
30,67812,4577,83121,88324,37822,52826,35343,03035,66955,13237,82985,66079,74469,91439,69239,06355,03230,9149,55932,76422,68314,7544,000000000000000000000000000000000000000000000000000
> Total Liabilities 
5
4
30
42,791
48,677
52,098
51,393
52,663
60,365
63,430
67,070
68,850
59,499
90,493
91,525
98,814
98,576
98,310
135,018
169,604
160,507
151,783
155,688
168,554
194,159
158,186
252,062
246,824
252,764
241,078
323,127
363,907
414,828
427,080
589,393
633,512
655,546
715,348
703,058
724,774
415,510
771,778
800,089
803,201
782,438
824,265
802,379
864,875
938,395
917,240
968,727
1,008,275
1,171,689
1,196,235
1,346,029
1,307,408
1,340,051
1,498,624
1,506,926
1,564,737
1,536,714
1,712,265
1,591,818
1,677,344
1,608,238
1,646,063
1,566,309
1,718,968
1,788,392
1,842,521
2,398,763
2,398,7631,842,5211,788,3921,718,9681,566,3091,646,0631,608,2381,677,3441,591,8181,712,2651,536,7141,564,7371,506,9261,498,6241,340,0511,307,4081,346,0291,196,2351,171,6891,008,275968,727917,240938,395864,875802,379824,265782,438803,201800,089771,778415,510724,774703,058715,348655,546633,512589,393427,080414,828363,907323,127241,078252,764246,824252,062158,186194,159168,554155,688151,783160,507169,604135,01898,31098,57698,81491,52590,49359,49968,85067,07063,43060,36552,66351,39352,09848,67742,7913045
   > Total Current Liabilities 
5
4
30
10,547
11,640
10,730
9,755
9,867
13,016
13,078
13,634
11,878
12,935
19,473
22,660
24,261
26,601
25,994
35,835
44,532
54,516
42,053
43,126
51,211
48,781
60,924
96,934
89,115
84,015
92,819
115,165
140,488
173,165
176,088
222,154
227,871
209,506
240,668
240,167
236,783
103,535
154,964
173,527
182,855
181,904
167,689
168,066
167,767
177,908
156,166
167,603
192,038
262,788
203,758
302,428
235,431
239,139
292,704
256,494
281,676
280,327
284,899
265,274
318,715
295,331
330,058
339,593
380,068
475,350
388,556
497,208
497,208388,556475,350380,068339,593330,058295,331318,715265,274284,899280,327281,676256,494292,704239,139235,431302,428203,758262,788192,038167,603156,166177,908167,767168,066167,689181,904182,855173,527154,964103,535236,783240,167240,668209,506227,871222,154176,088173,165140,488115,16592,81984,01589,11596,93460,92448,78151,21143,12642,05354,51644,53235,83525,99426,60124,26122,66019,47312,93511,87813,63413,07813,0169,8679,75510,73011,64010,5473045
       Short-term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
658,673
653,028
696,848
713,092
56,843
867,475
64,980
0
0
24,976
0
0
0
0
0
0
0
0
0
0
0
0
0
000000000000024,9760064,980867,47556,843713,092696,848653,028658,673000000000000000000000000000000000000000000000000
       Short Long Term Debt 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
658,673
653,028
696,848
713,092
56,843
867,475
64,980
0
0
24,976
0
0
0
0
0
0
0
0
0
0
98,808
0
0
0098,808000000000024,9760064,980867,47556,843713,092696,848653,028658,673000000000000000000000000000000000000000000000000
       Accounts payable 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
123,982
115,751
129,804
153,413
166,415
163,015
195,657
187,857
199,256
207,131
196,331
218,379
210,496
220,326
195,855
248,450
213,981
242,202
240,893
273,787
267,147
287,258
374,733
374,733287,258267,147273,787240,893242,202213,981248,450195,855220,326210,496218,379196,331207,131199,256187,857195,657163,015166,415153,413129,804115,751123,982000000000000000000000000000000000000000000000000
       Other Current 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
52,857
39,402
36,801
37,604
38,360
39,721
40,534
46,357
38,697
40,990
40,545
43,703
46,551
40,624
45,489
48,455
58,223
64,651
75,899
84,669
88,304
82,332
100,467
100,46782,33288,30484,66975,89964,65158,22348,45545,48940,62446,55143,70340,54540,99038,69746,35740,53439,72138,36037,60436,80139,40252,857000000000000000000000000000000000000000000000000
   > Long-term 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
1,205,920
1,250,432
1,283,061
1,256,387
1,427,366
1,326,544
1,358,629
1,312,907
1,316,005
1,226,716
1,338,900
1,313,042
1,453,965
1,901,555
1,901,5551,453,9651,313,0421,338,9001,226,7161,316,0051,312,9071,358,6291,326,5441,427,3661,256,3871,283,0611,250,4321,205,920000000000000000000000000000000000000000000000000000000000
       Long term Debt Total 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
1,089,737
1,130,542
1,163,655
1,120,732
1,295,568
1,198,091
1,233,580
1,183,818
1,199,886
1,111,461
1,208,593
1,170,416
1,302,606
1,736,039
1,736,0391,302,6061,170,4161,208,5931,111,4611,199,8861,183,8181,233,5801,198,0911,295,5681,120,7321,163,6551,130,5421,089,737000000000000000000000000000000000000000000000000000000000
       Other 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
102,883
109,059
105,274
104,166
112,740
126,024
129,737
115,156
120,764
115,403
116,150
118,145
129,570
126,811
120,919
119,100
117,249
109,474
111,202
126,951
141,201
144,617
152,771
152,771144,617141,201126,951111,202109,474117,249119,100120,919126,811129,570118,145116,150115,403120,764115,156129,737126,024112,740104,166105,274109,059102,883000000000000000000000000000000000000000000000000
> Total Stockholder 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
486,137
569,838
562,917
550,794
577,508
582,987
600,371
597,263
617,247
604,661
624,432
641,179
729,843
740,254
709,038
709,839
685,946
673,072
751,288
778,538
800,275
783,821
847,483
847,483783,821800,275778,538751,288673,072685,946709,839709,038740,254729,843641,179624,432604,661617,247597,263600,371582,987577,508550,794562,917569,838486,137000000000000000000000000000000000000000000000000
   Common 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
463,603
559,620
556,415
552,471
576,471
581,632
589,529
588,022
588,498
593,372
618,583
619,728
709,546
712,083
715,620
728,242
731,343
734,552
822,993
832,979
852,821
857,362
899,404
899,404857,362852,821832,979822,993734,552731,343728,242715,620712,083709,546619,728618,583593,372588,498588,022589,529581,632576,471552,471556,415559,620463,603000000000000000000000000000000000000000000000000
   Retained Earnings Total Equity00000000000000000000000000000000000000000000000000000000000000000000000
   Accumulated Other Comprehensive Income 000000-569,742000-465,766000-420,652000-333,196000-282,995000-235,872000-163,688000-145,020000-126,270000-94,975000-31,606-29,31200-23,176000-16,202-9,099-9,099-9,099-9,099-5,462-5,462-5,462-5,462-2,201-2,201-2,201-2,2010000
   Capital Surplus 
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
9,693
9,837
9,837
9,837
9,837
9,837
9,837
9,837
9,837
9,837
13,046
13,046
16,635
16,635
16,63516,63513,04613,0469,8379,8379,8379,8379,8379,8379,8379,8379,8379,693000000000000000000000000000000000000000000000000000000000
   Treasury Stock00000000000000000000000000000000000000000000000000000000000000000000000
   Other Stockholders 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
62,101
60,561
51,960
39,822
45,210
52,667
65,236
56,645
77,598
58,385
47,994
53,224
61,933
94,906
77,390
68,469
48,196
45,233
40,035
53,887
54,637
48,420
63,384
63,38448,42054,63753,88740,03545,23348,19668,46977,39094,90661,93353,22447,99458,38577,59856,64565,23652,66745,21039,82251,96060,56162,101000000000000000000000000000000000000000000000000



Balance Sheet

Currency in CAD. All numbers in thousands.




Cash Flow

Currency in CAD. All numbers in thousands.