Added to YB: 2026-04-14
Pitch date: 2026-04-10
TOI.V [bullish]
Topicus.com Inc.
+6.8%
current return
Author Info
No bio for this author
Company Info
Topicus.com Inc. provides vertical market software and vertical market platforms in the Netherlands and internationally.
Market Cap
CAD 5.2B
Pitch Price
CAD 3.09
Price Target
142.00 (+4510%)
Dividend
N/A
EV/EBITDA
43.75
P/E
124.06
EV/Sales
3.84
Sector
Software
Category
value
Investment Thesis Topicus.com Inc. ($TOI)
TOI.V: European VMS serial acquirer spun from Constellation. Trading CAD 93 vs CAD 202 10-yr target (13.5% IRR). AI-resilient via mission-critical niche software in regulated sectors, negative NWC, 71% recurring rev, 1.1x net debt/EBITDA. 22% avg ROIC 2018-25, 95% reinvestment rate at 17% ROIIC. DCF intrinsic value €142 vs €58 current (145% upside). Bear case 8-10% IRR maintains margin of safety. 200k+ VMS targets globally for M&A runway.
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