CONSTELLATION SOFTWARE INC. |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 3,818 CAD | +2.58% |
|
+3.33% | +16.22% |
| May. 15 | Constellation Software Inc. Announces Several Changes to the Harris Executive Team, Effective June 1, 2024 | CI |
| May. 14 | Constellation Software Price Target Raised to $4150 at TD | MT |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Capitalization 1 | 20,560 | 27,500 | 39,336 | 33,039 | 52,514 | 59,225 | - |
| Enterprise Value (EV) 1 | 20,739 | 27,467 | 39,960 | 34,515 | 54,564 | 61,434 | 61,637 |
| P/E ratio | 61.7 x | 63 x | 127 x | 64.5 x | 92.9 x | 87.4 x | 60.8 x |
| Yield | 2.47% | 0.31% | 0.22% | - | - | - | - |
| Capitalization / Revenue | 5.89 x | 6.93 x | 7.7 x | 4.99 x | 6.25 x | 5.86 x | 4.86 x |
| EV / Revenue | 5.94 x | 6.92 x | 7.83 x | 5.21 x | 6.49 x | 6.08 x | 5.06 x |
| EV / EBITDA | 22.2 x | 22.3 x | 26.4 x | 20.3 x | 24.7 x | 22.4 x | 18.8 x |
| EV / FCF | 28.3 x | 23.7 x | 31.4 x | 27.5 x | 31.4 x | 26.2 x | 21.6 x |
| FCF Yield | 3.53% | 4.23% | 3.18% | 3.64% | 3.18% | 3.82% | 4.62% |
| Price to Book | - | - | - | - | - | - | - |
| Nbr of stocks (in thousands) | 21,192 | 21,192 | 21,192 | 21,192 | 21,192 | 21,192 | - |
| Reference price 2 | 970.2 | 1,298 | 1,856 | 1,559 | 2,478 | 2,795 | 2,795 |
| Announcement Date | 2/13/20 | 2/12/21 | 2/10/22 | 3/29/23 | 3/6/24 | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net sales 1 | 3,490 | 3,969 | 5,106 | 6,622 | 8,407 | 10,107 | 12,191 |
| EBITDA 1 | 934 | 1,231 | 1,512 | 1,701 | 2,209 | 2,744 | 3,277 |
| EBIT 1 | 511 | 723 | 873 | 882 | 1,188 | 1,451 | 1,987 |
| Operating Margin | 14.64% | 18.22% | 17.1% | 13.32% | 14.13% | 14.36% | 16.3% |
| Earnings before Tax (EBT) 1 | 456 | 603 | 374 | 725 | 265 | 1,117 | 1,571 |
| Net income 1 | 333 | 436 | 310 | 512 | 565 | 509.5 | 692.4 |
| Net margin | 9.54% | 10.99% | 6.07% | 7.73% | 6.72% | 5.04% | 5.68% |
| EPS 2 | 15.73 | 20.59 | 14.65 | 24.18 | 26.67 | 31.98 | 45.99 |
| Free Cash Flow 1 | 733 | 1,161 | 1,271 | 1,256 | 1,737 | 2,347 | 2,849 |
| FCF margin | 21% | 29.25% | 24.89% | 18.97% | 20.66% | 23.22% | 23.37% |
| FCF Conversion (EBITDA) | 78.48% | 94.31% | 84.06% | 73.84% | 78.63% | 85.53% | 86.94% |
| FCF Conversion (Net income) | 220.12% | 266.28% | 410% | 245.31% | 307.43% | 460.58% | 411.52% |
| Dividend per Share | 24.00 | 4.000 | 4.000 | - | - | - | - |
| Announcement Date | 2/13/20 | 2/12/21 | 2/10/22 | 3/29/23 | 3/6/24 | - | - |
1USD in Million2USD
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 | 2025 Q1 | 2025 Q2 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,383 | 1,431 | 1,618 | 1,725 | 1,847 | 1,919 | 2,039 | 2,126 | 2,323 | 2,353 | 2,490 | 2,610 | 2,801 | 2,852 | 2,965 |
| EBITDA 1 | 409 | 373 | 410 | 419 | 497 | 456 | 518 | 582 | 653 | 597 | 649.6 | 699.5 | 771.2 | 709.7 | 766.3 |
| EBIT 1 | 236 | 195 | 207 | 204 | 274 | 224 | 265 | 327 | 372 | 311 | 350 | 400.7 | 460.9 | 378.1 | 416.8 |
| Operating Margin | 17.06% | 13.63% | 12.79% | 11.83% | 14.83% | 11.67% | 13% | 15.38% | 16.01% | 13.22% | 14.06% | 15.35% | 16.45% | 13.26% | 14.06% |
| Earnings before Tax (EBT) 1 | 184 | 151 | 177 | 193 | 204 | -43 | 79 | 236 | -7 | 125 | 253.1 | 301.5 | 359.5 | 275.7 | 312.6 |
| Net income 1 | 124 | 98 | 126 | 136 | 152 | 94 | 103 | 177 | 141 | 105 | 104.1 | 132.9 | 167.6 | 106.7 | 129.3 |
| Net margin | 8.97% | 6.85% | 7.79% | 7.88% | 8.23% | 4.9% | 5.05% | 8.33% | 6.07% | 4.46% | 4.18% | 5.09% | 5.98% | 3.74% | 4.36% |
| EPS 2 | 5.860 | 4.630 | 5.940 | 6.420 | 7.190 | 4.440 | 4.880 | 8.360 | 6.640 | 4.950 | 7.510 | 8.940 | 10.79 | 5.040 | 6.100 |
| Dividend per Share | 1.000 | - | - | - | - | 2.000 | - | - | - | 1.000 | - | - | - | - | - |
| Announcement Date | 2/10/22 | 5/4/22 | 8/4/22 | 11/4/22 | 3/29/23 | 5/15/23 | 8/11/23 | 11/9/23 | 3/6/24 | 5/10/24 | - | - | - | - | - |
1USD in Million2USD
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Net Debt 1 | 179 | - | 624 | 1,476 | 2,050 | 2,209 | 2,412 |
| Net Cash position 1 | - | 33 | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 0.1916 x | - | 0.4127 x | 0.8677 x | 0.928 x | 0.8052 x | 0.736 x |
| Free Cash Flow 1 | 733 | 1,161 | 1,271 | 1,256 | 1,737 | 2,347 | 2,849 |
| ROE (net income / shareholders' equity) | - | - | - | - | 31.5% | 23.8% | - |
| ROA (Net income/ Total Assets) | - | - | - | - | - | - | - |
| Assets 1 | - | - | - | - | - | - | - |
| Book Value Per Share | - | - | - | - | - | - | - |
| Cash Flow per Share 2 | 36.20 | 56.00 | 61.30 | 61.20 | - | 104.0 | 121.0 |
| Capex 1 | 34 | 25 | 29 | 41 | 42 | 40 | 24 |
| Capex / Sales | 0.97% | 0.63% | 0.57% | 0.62% | 0.5% | 0.4% | 0.2% |
| Announcement Date | 2/13/20 | 2/12/21 | 2/10/22 | 3/29/23 | 3/6/24 | - | - |
1USD in Million2USD
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
D+
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
8
Last Close Price
2,795
USD
Average target price
3,038
USD
Spread / Average Target
+8.72%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +16.22% | 59.22B | |
| +16.58% | 338B | |
| +4.53% | 152B | |
| +18.95% | 34.22B | |
| +1.66% | 30.08B | |
| +166.75% | 29.88B | |
| +31.22% | 21.64B | |
| +39.43% | 14.13B | |
| -0.51% | 13.99B | |
| +6.77% | 13.87B |
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