Added to YB: 2026-05-07
Pitch date: 2026-05-05
CSU.TO [neutral]
Constellation Software Inc.
-3.89%
current return
Author Info
Whiteout Capital is a software engineer and private investor publishing independent research focused on global microcaps. Sign up for the newsletter.
Company Info
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.
Market Cap
CAD 38.5B
Pitch Price
CAD 2.5K
Price Target
N/A
Dividend
0.22%
EV/EBITDA
15.92
P/E
75.21
EV/Sales
3.60
Sector
Software
Category
value
Writeup - Constellation Software: Mispriced or Broken?
CSU.TO (update): Down >55% despite FCF/share growth (+20.4% in 3 qtrs). EV/EBITDA compressed from ~40 to ~15; FCF yield rose from <3% to >6.5%. Headwinds: 1) Mark Leonard stepped down as president & board due to health, 2) AI concerns re dev costs/competition/pricing, 3) market-driven multiple compression. New president Mark Miller bought C$5M stock. Decentralized culture may sustain ops.
Read full article (4 min)