Added to YB: 2026-05-08
Pitch date: 2026-05-06
TOI.V [neutral]
Topicus.com Inc.
+5.82%
current return
Author Info
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Company Info
Topicus.com Inc. provides vertical market software and vertical market platforms in the Netherlands and internationally.
Market Cap
CAD 5.0B
Pitch Price
CAD 91.00
Price Target
N/A
Dividend
N/A
EV/EBITDA
31.87
P/E
161.25
EV/Sales
3.41
Sector
Software
Category
growth
Topicus Q1 2026
TOI.V (earnings): Q1 rev +23% YoY, underlying net income +48% (not -21% reported) after backing out €32.8M Asseco FV gain in Q1'25. Normalized OCF growth ~18% (not 3%) adjusting for €35.7M A/P timing swing & higher taxes. Paid down €245M debt in 3mo; net debt now €117.5M vs €165.4M quarterly FCFA2S. Organic growth 5% overall, 7% in recurring rev (73% of total), no AI churn. €22.5M M&A in Q1 (light), €37.7M post-quarter. PEMS strategy validated via Asseco equity income. €8.4M Dutch tax dispute risk. Strong balance sheet for H2 M&A acceleration.
Read full article (6 min)