ABCDEFGHIJKLMNOPQRSTUVWXYZ
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FY Ending December 31202020212022202320242025202620272028
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 Income Statement
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Canadian Dollars in millions, except per share/ specified
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Total Revenue 648.5 776.0 951.7 1,055.9 1,208.5 1,342.2 1,490.1 1,644.5 1,812.0 11.4%
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 Y/Y %19.7%22.6%10.9%14.5%11.1%11.0%10.4%10.2%
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Retail Sales295.8 347.3 402.6 421.8 447.7 474.9 503.9 534.5 567.1
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 Y/Y %17.4%15.9%4.8%6.1%6.1%6.1%6.1%6.1%
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Franchise and other Revenues 352.7 428.7 549.1 634.0 760.9 867.3 986.3 1,110.0 1,244.9
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 Y/Y %21.5%28.1%15.5%20.0%14.0%13.7%12.5%12.2%
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COGS(397.1)(468.4)(577.6)(660.4)(745.0)(815.3)(901.5)(994.9)(1,096.3)
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Gross Profit 251.3 307.6 374.1 395.5 463.5 526.9 588.6 649.6 715.7
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Gross Margin 38.8%39.6%39.3%37.5%38.4%39.3%39.5%39.5%39.5%
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Personnel Costs, ex SBC(70.4)(83.4)(99.1)(106.9)(120.9)(134.2)(149.0)(164.5)(181.2)
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% of Sales 10.9%10.7%10.4%10.1%10.0%10.0%10.0%10.0%10.0%
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SBC Costs(2.2)(6.2)(5.9)(6.0)(6.7)(7.5)(8.2)(9.1)
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% of Sales0.3%0.7%0.6%0.5%0.5%0.5%0.5%0.5%
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Ads(16.5)(21.3)(25.2)(28.1)(32.2)(35.7)(39.7)(43.8)(48.2)
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% of Sales2.5%2.7%2.7%2.7%2.7%2.7%2.7%2.7%2.7%
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Other SG&A(29.6)(37.6)(45.3)(43.2)(48.3)(53.7)(59.6)(65.8)(72.5)
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% of Sales4.6%4.8%4.8%4.1%4.0%4.0%4.0%4.0%4.0%
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EBITDA134.7 163.1 198.3 211.4 256.1 296.6 332.9 367.4 404.8
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% 20.8%21.0%20.8%20.0%21.2%22.1%22.3%22.3%22.3%
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SG&A D&A (11.4)(13.3)(16.3)(20.4)(24.1)(28.8)(33.8)(39.1)(45.0)
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COGS D&A(20.7)(20.4)(21.8)(30.4)(60.2)(55.6)(52.5)(50.4)(49.3)
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Total % of Sales4.9%4.3%4.0%4.8%7.0%6.3%5.8%5.4%5.2%
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EBIT102.7 129.4 160.2 160.7 171.9 212.1 246.6 277.8 310.5 14.1%
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%15.8%16.7%16.8%15.2%14.2%15.8%16.5%16.9%17.1%
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Interest Expense, net(59.2)(42.1)(17.6)(25.1)(22.7)(21.3)(14.3)(7.6)(6.8)
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% of Average Debt 8.0%5.1%7.9%8.0%8.0%8.0%8.0%8.0%
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Lease interest, net (5.4)(4.9)(4.4)(7.7)(10.2)(9.9)(9.3)(9.0)(8.8)
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% of Average Lease 2.1%1.8%2.2%2.3%2.1%2.0%2.0%1.9%
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Interest income, net 0.6 0.1 1.6 2.1 0.9 2.0 2.4 3.3 6.2
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% of Average Cash & Equivalents 0.2%2.7%4.5%2.0%2.0%2.0%2.0%2.0%
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EBT 38.1 82.4 138.2 128.0 138.9 180.9 223.0 261.2 294.9
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Tax (11.4)(26.3)(37.9)(35.6)(37.5)(48.8)(60.2)(70.5)(79.6)
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Tax Rate 30.1%31.9%27.4%27.8%27.0%27.0%27.0%27.0%27.0%
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Net Profit 26.6 56.1 100.3 92.4 101.4 132.0 162.8 190.7 215.3
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%4.1%7.2%10.5%8.8%8.4%9.8%10.9%11.6%11.9%
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Weighted Average Share Outstanding 55.5 71.7 72.1 72.4 70.6 70.6 70.6 70.6 70.6 27.28PET.TO
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Diluted EPS 0.48 0.78 1.39 1.28 1.44 1.87 2.31 2.70 3.05 38.6%
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PET Earnings yields5.3%6.9%8.5%9.9%11.2%19.0%
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Canadian Treasury yields3.6%3.6%3.4%3.3%3.2%
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US Treasury yields4.8%4.4%4.2%4.2%4.1%
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Dividend Per Share $ 0.43 $ 0.56 $ 0.69 $ 0.81 $ 0.91
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 $ 0.88 67.9%
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 Balance Sheet\
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CAD in millions, except per share/ specified
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Cash & Cash Equivalents 71.5 50.1 63.0 28.4 60.8 138.2 101.2 232.7 389.0
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Accounts Recievables 12.6 14.4 23.0 27.9 38.3 35.2 46.5 43.7 55.6
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Inventory 78.0 91.7 118.4 122.1 143.3 147.1 174.0 180.4 210.1
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Current Portion of lease recievables 23.1 26.6 29.8 34.3 37.0 39.9 42.4 44.7 46.8
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Other 8.6 10.4 22.3 25.4 25.4 25.4 25.4 25.4 25.4
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Total Current Assets 193.9 193.2 256.5 238.1 304.9 385.7 389.5 526.9 726.9
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PP&E55.7 62.1 91.8 120.5 150.5 177.5 201.3 225.0 248.5
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ROU85.0 80.8 82.2 237.9 213.5 195.1 181.3 171.2 164.0
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Goodwill93.3 92.9 97.6 97.6 97.6 97.6 97.6 97.6 97.6
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Intangible Assets36.1 37.4 52.3 52.2 48.9 45.5 42.2 38.9 35.5
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Lease recievables 96.7 121.9 141.2 159.1 174.4 187.9 199.9 210.7 220.6
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Other 1.5 10.9 18.6 11.5 11.5 11.5 11.5 11.5 11.5
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Total Assets 562.1 599.2 740.2 916.9 1,001.2 1,100.8 1,123.3 1,281.7 1,504.5
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Trade Payables 100.0 87.0 103.8 88.4 115.7 107.7 139.3 133.3 167.1
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Debt Due (LT) 7.4 8.9 17.8 17.8 17.8 257.7 10.0 10.0 10.0
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Lease Due (LT) 42.8 42.0 51.3 64.1 88.8 92.8 92.3 91.3 90.7
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Other 1.9 14.6 16.3 2.0 2.0 2.0 2.0 2.0 2.0
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Total Current Liabilities 152.1 152.4 189.2 172.2 224.2 460.3 243.6 236.6 269.8
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Long-term Debt 698.9 336.6 320.1 275.5 257.7 0.0 90.0 80.0 70.0
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Long-term lease173.9 197.0 216.0 379.8 375.4 368.6 364.1 362.3 362.9
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Other 6.8 7.7 14.6 19.6 19.6 19.6 19.6 19.6 19.6