Added to YB: 2026-05-08
Pitch date: 2026-05-06
TOI.V [neutral]
Topicus.com Inc.
+5.82%
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 5.0B
Pitch Price
CAD 91.00
Price Target
199.00 (+120%)
Dividend
N/A
EV/EBITDA
31.87
P/E
161.25
EV/Sales
3.41
Sector
Software
Category
growth
Q1 2026 Topicus.com Inc. update ($TOI)
TOI.V (earnings): Q1 rev +22.5% YoY, 72.5% recurring (up from 68% in 2018); organic growth 7% on recurring, 5% overall. OpEx to 74% of rev from 76%. €280.5M op cash flow, €245M credit facility drawdown for M&A; €600M+ capacity unused. 169 business units (+3 QoQ). Private M&A valuations sticky per CSI CEO despite public VMS 50-60% sell-off. Mgmt paid down variable debt to preserve acquisition firepower. Base case 15x exit multiple implies upside from €199 CAD 52W high, now 60% lower.
Read full article (6 min)