Added to YB: 2025-04-21
Pitch date: 2025-04-17
TOI.V [neutral]
Topicus.com Inc.
-20.22%
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 7.4B
Pitch Price
CAD 153.68
Price Target
N/A
Dividend
N/A
EV/EBITDA
26.58
P/E
57.41
EV/Sales
5.70
Sector
Software
Category
growth
Topicus Inc.: A European Software Compounder Ready to Scale
TOI.V neutral: European VMS specialist spun off from Constellation Software in 2021. Owner-operator structure with 32.5% ROIC, 0.5x Net debt/EBITDA, and capital-light model (2.1% Capex/OCF). Reinvesting entire FCF into acquisitions like Asseco Poland and Cipal Schaubroeck. Current price implies 14.4% 10-yr growth for 10% return. Risks: integration challenges and complex EU regulations.
Read full article (16 min)