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Constellation Software Inc., together with its subsidiaries, acquires, builds, and manages vertical market software businesses to develop mission-critical software solutions for public and private sector markets. It is involved in the software licensing; and sale of hardware activities. The company also offers professional services consist of implementation services, custom programming, product training, managed services, and consulting services; maintenance and customer support services, and hosted software-as-a-service products; and other recurring services. It operates in Canada, the United States, the United Kingdom, Europe, and internationally. The company was incorporated in 1995 and is headquartered in Toronto, Canada.
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.
Constellation Software is a Canadian company that acquires and operates vertical market software businesses with a decentralized, buy-and-hold model. Growth may be driven by bolt-on acquisitions, recurring revenues with high retention and operational improvement across its portfolio, which could appeal to investors seeking steady cash flow and disciplined capital use.
Primary risks are reliance on ongoing acquisitions and integration execution, competition for targets that could increase purchase costs, and sensitivity to economic and financing conditions.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | 881.16M | 1012.00M | 266.00M | 725.00M | 374.00M |
| Minority interest | -74.00M | -37.00M | 503.00M | -38.00M | 142.00M |
| Net income | 520.96M | 731.00M | 565.00M | 512.00M | 168.00M |
| Selling general administrative | 877.00M | 5780.00M | 5093.00M | 4009.00M | 3000.00M |
| Selling and marketing expenses | - | - | 4382.00M | - | - |
| Gross profit | 4680.53M | 3615.00M | 2946.00M | 5862.00M | 4575.00M |
| Reconciled depreciation | 1383.00M | 1226.00M | 1021.00M | 819.00M | 639.00M |
| Ebit | 1931.23M | 1471.00M | 1182.00M | 764.00M | 436.00M |
| Ebitda | 3338.44M | 1972.00M | 1600.00M | 1583.00M | 1075.00M |
| Depreciation and amortization | 1407.21M | 501.00M | 418.00M | 819.00M | 639.00M |
| Operating income | 1931.23M | 579.00M | 431.00M | 764.00M | 436.00M |
| Other operating expenses | 9895.24M | 9487.00M | 7976.00M | 5588.00M | 4171.00M |
| Interest expense | 302.20M | 266.56M | 195.11M | 88.00M | 53.00M |
| Tax provision | 353.00M | 244.00M | 204.00M | 175.00M | 206.00M |
| Interest income | 49.00M | 196.00M | 4.00M | 37.00M | 3.00M |
| Net interest income | -147.00M | -220.00M | -164.00M | -94.00M | -63.00M |
| Income tax expense | 284.90M | 244.00M | 204.00M | 175.00M | 206.00M |
| Total revenue | 11826.47M | 10066.00M | 8407.00M | 6622.00M | 5107.00M |
| Total operating expenses | 2749.30M | 3036.00M | 2515.00M | 4828.00M | 3639.00M |
| Cost of revenue | 7145.94M | 6451.00M | 5461.00M | 760.00M | 532.00M |
| Total other income expense net | -1050.07M | 433.00M | -165.00M | -39.00M | -62.00M |
| Net income from continuing ops | 586.00M | 767.00M | 61.00M | 550.00M | 168.00M |
| Net income applicable to common shares | - | 731.00M | 565.00M | 512.00M | 310.00M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 16141.57M | 12863.00M | 10899.00M | 7882.00M | 5766.00M |
| Intangible assets | 6594.98M | 6007.00M | 5436.00M | 3871.00M | 2819.00M |
| Other current assets | 375.32M | 319.00M | 282.00M | 223.00M | 156.00M |
| Total liab | 11881.34M | 9576.00M | 8938.00M | 5949.00M | 4246.00M |
| Total stockholder equity | 3568.49M | 2794.00M | 1876.00M | 1712.00M | 1060.00M |
| Deferred long term liab | - | - | - | - | 46.00M |
| Other current liab | 411.25M | - | 1108.00M | 287.00M | 189.00M |
| Common stock | 98.82M | - | 99.00M | 99.00M | 99.00M |
| Capital stock | 99.00M | 99.00M | 99.00M | 99.00M | 99.00M |
| Retained earnings | 3339.91M | 2919.00M | 1876.00M | 1763.00M | 1206.00M |
| Other liab | - | - | - | 811.00M | 680.00M |
| Good will | 1777.76M | 1462.00M | 1271.00M | 807.00M | 610.00M |
| Other assets | - | - | - | -1.00M | 163.00M |
| Cash | 3083.38M | 1980.00M | 1284.00M | 811.00M | 763.00M |
| Total current liabilities | 6062.95M | 4672.00M | 5495.00M | 3768.00M | 2461.00M |
| Current deferred revenue | 2209.97M | - | 1757.00M | 1484.00M | 1158.00M |
| Net debt | 2693.09M | 2186.00M | 2398.00M | 1476.00M | 624.00M |
| Short term debt | 1504.26M | - | 1198.00M | 917.00M | 282.00M |
| Short long term debt | 1366.00M | 622.00M | 1086.00M | 821.00M | 203.00M |
| Short long term debt total | 5776.47M | - | 3682.00M | 2287.00M | 1387.00M |
| Other stockholder equity | - | - | - | -150.00M | -179.00M |
| Property plant equipment | - | - | - | 411.00M | 334.00M |
| Total current assets | 5792.44M | 4294.00M | 3345.00M | 2461.00M | 1835.00M |
| Long term investments | 655.00M | 14.00M | 10.00M | 3.00M | 2.00M |
| Net tangible assets | - | - | - | - | -2372.00M |
| Short term investments | 51.91M | 14.00M | 14.00M | 115.00M | 39.00M |
| Net receivables | 2213.96M | 1292.00M | 1714.00M | 1264.00M | 842.00M |
| Long term debt | 3998.00M | 3544.00M | 2248.00M | 1153.00M | 915.00M |
| Inventory | 67.88M | 56.00M | 51.00M | 48.00M | 35.00M |
| Accounts payable | 1937.47M | 1589.00M | 1432.00M | 1080.00M | 832.00M |
| Accumulated other comprehensive income | 129.76M | - | -99.00M | -150.00M | -66.00M |
| Non currrent assets other | 344.37M | 1.00M | 277.00M | 168.00M | 95.00M |
| Non current assets total | 10349.13M | 8569.00M | 7554.00M | 5422.00M | 3931.00M |
| Capital lease obligations | 423.00M | 367.00M | 348.00M | 313.00M | 269.00M |
| Long term debt total | - | - | - | 1370.00M | 1105.00M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | -530.00M | -1567.00M | -1639.00M | -1694.00M | -31.00M |
| Change to liabilities | - | - | - | 0.00M | 135.00M |
| Total cashflows from investing activities | -1970.91M | -1567.00M | -1639.00M | -1694.00M | -1238.00M |
| Net borrowings | 439.00M | - | - | - | 117.00M |
| Total cash from financing activities | 358.16M | 114.00M | 316.00M | 483.00M | -41.00M |
| Change to operating activities | - | - | - | - | -56.00M |
| Net income | 520.96M | 767.00M | 62.00M | 551.00M | 169.00M |
| Change in cash | 1009.73M | 696.00M | 473.00M | 48.00M | 5.00M |
| Begin period cash flow | 2073.65M | 1284.00M | 811.00M | 763.00M | 758.00M |
| End period cash flow | 3083.38M | 1980.00M | 1284.00M | 811.00M | 763.00M |
| Total cash from operating activities | 2637.37M | 2197.00M | 1779.00M | 1297.00M | 1300.00M |
| Depreciation | 1407.21M | 182.00M | 1021.00M | 819.00M | 639.00M |
| Other cashflows from investing activities | -291.01M | -1500.00M | 2.00M | 4.00M | 5.00M |
| Dividends paid | 86.49M | 85.00M | 85.00M | 85.00M | 85.00M |
| Change to inventory | 8.14M | 6.00M | 4.00M | -9.00M | 1.00M |
| Change to account receivables | 32.56M | -67.00M | -62.00M | -84.00M | -22.00M |
| Other cashflows from financing activities | -122.10M | -410.00M | -147.00M | -95.00M | -51.00M |
| Change to netincome | - | - | - | - | 304.00M |
| Capital expenditures | 69.19M | 67.00M | 42.00M | 41.00M | 29.00M |
| Change in working capital | -6.11M | -505.00M | -36.00M | -61.00M | 45.00M |
| Other non cash items | 971.72M | 462.00M | 528.00M | -187.00M | 485.00M |
| Free cash flow | 2568.18M | 2129.00M | 1737.00M | 1256.00M | 1271.00M |
Sector: Technology Industry: Software - Application
|
Stock Name
|
Change
(CAD) |
Price
(CAD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| CSU Constellation Software Inc. |
4.66 0.14% |
3451.68 | 78.75 | 16.39 | 4.74 | 11.45 | 3.77 | 17.00 |
| SHOP Shopify Inc |
-16.75 7.70% |
200.89 | 138.91 | 70.92 | 20.17 | 12.93 | 14.73 | 88.85 |
| CRM Salesforce CDR (CAD Hedged) |
-0.33 1.93% |
16.80 | 23.21 | 13.57 | 4.11 | 2.47 | 3.85 | 12.75 |
| NOWS ServiceNow CDR (CAD Hedged) |
0.38 2.83% |
13.82 | 323.25 | 114.94 | 38.22 | 38.75 | 7.52 | 33.05 |
| DSG Descartes Systems Group Inc |
0.32 0.25% |
128.08 | 40.41 | 27.86 | 12.25 | 4.05 | 8.56 | 20.45 |
Constellation Software Inc., together with its subsidiaries, acquires, builds, and manages vertical market software businesses to develop mission-critical software solutions for public and private sector markets. It is involved in the software licensing; and sale of hardware activities. The company also offers professional services consist of implementation services, custom programming, product training, managed services, and consulting services; maintenance and customer support services, and hosted software-as-a-service products; and other recurring services. It operates in Canada, the United States, the United Kingdom, Europe, and internationally. The company was incorporated in 1995 and is headquartered in Toronto, Canada.
| Name | Title | Year Born |
|---|---|---|
| Mr. Mark Leonard | Founder, Pres & Director | 1956 |
| Mr. Jamal Nizam Baksh | Chief Financial Officer | NA |
| Mr. Damian McKay | Chief Exec. Officer of Vela Software Group | NA |
| Mr. Mark Robert Miller | COO & Director | 1963 |
| Mr. Bernard Anzarouth | Chief Investment Officer | NA |
| Mr. Mark Dennison | Gen. Counsel & Sec. | NA |
| Mr. Dexter Salna | Director | NA |
| Mr. Farley Noble | Sr. VP of Large Acquisition Group | NA |
| Mr. Daan Dijkhuizen | Managing Partner,VMS Ventures | NA |
| Mr. Mark Leonard | Founder, President & Director | 1956 |
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