2022 Annual Report

The Value of Our Business In 2021 the value of our business increased 22%. Our long-term goal is to increase both our operating income and our earnings from investees by 15% per year. Pandemic recovery continued in 2022 and we made gains in our look-through earnings as well. Investment earnings Read more…

2021 Annual Report

The Value of Our Business In 2021 the value of our business increased 33%. Our long-goal is to increase both our operating income and our earnings from investees by 15% per year. This has been complicated by the Covid Pandemic. We have so far been able to achieve this goal, Read more…

2020 Annual Report

The Value of Our Business In 2020 the value of our business increased 48%. We calculate our business value using the Discounted Cash Flow model. This gives us the ‘intrinsic’ value of the business (as opposed to market value which can vary wildly. In making this estimate, we must also Read more…