KEG-UN.TO Keg Royalties Income Fund

Exchange

TSX

Sector

Diversified Industries

Industry

Market Cap.

171.9M

Satisfactory Cash Return on Invested Capital over the past 5 years

KEG-UN.TO has somewhat efficiently invested its financial resources in buildings, projects, and equipment. If CROIC is inconsistent, it's likely KEG-UN.TO could be benefiting from a one-time event or has a mixed history of investing capital productively. Read the company's Annual Report to determine whether this can improve.

KEG-UN.TO has created $10.68 of cash for every $100 invested.

Figures in CAD. Fiscal year ends in December

	2007	2008	2009	2010	2011
Free Cash Flow	12.20M	12.38M	12.50M	12.82M	22.21M
divided by
Invested Capital	113.88M	113.91M	113.90M	124.76M	210.01M
Cash ROIC	10.71%	10.87%	10.98%	10.27%	10.58%

Satisfactory Return on Equity over the past 5 years

KEG-UN.TO has generated adequate returns with capital that shareholders have invested. This is sufficient and implies that management performance has been good.

KEG-UN.TO has generated $11.57 of Earnings for every $100 of Shareholders' Equity.

Figures in CAD. Fiscal year ends in December

	2007	2008	2009	2010	2011
Net Income	10.39M	12.37M	12.40M	12.85M	11.32M
divided by
Stockholders' Equity	99.49M	99.49M	99.48M	109.85M	104.34M
Return on Equity	10.44%	12.43%	12.46%	11.69%	10.84%

Excellent Business Performance over the past 10 years

KEG-UN.TO has been able to maintain profitability in good times and bad. This could mean KEG-UN.TO has an extremely strong business or has the ability to scale down costs when needed. This should be a fairly resilient business, but double check for future sustainability by looking at its Risk Factors in the Annual Report.

KEG-UN.TO has created positive free cash flow for 9 or more of the past 10 years.

Figures in CAD. Fiscal year ends in December

	2002	2003	2004	2005	2006	2007	2008	2009	2010	2011
Free Cash Flow	6.99M	14.17M	15.36M	8.80M	10.51M	12.20M	12.38M	12.50M	12.82M	22.21M