Company Valuation: Constellation Software Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 39,301 33,100 52,717 65,466 51,025 46,497 - -
Change - -15.78% 59.27% 24.18% -22.06% -8.87% - -
Enterprise Value (EV) 1 39,925 34,576 54,767 67,652 53,300 48,718 48,410 47,648
Change - -13.4% 58.4% 23.53% -21.21% -8.6% -0.63% -1.57%
P/E 127x 64.6x 93.3x 89.6x 99.7x 37.6x 35.9x 25.9x
PBR - - - 23.4x 14.3x 9.84x 7.59x 5.86x
PEG - 1x 9.1x 3.1x -3.3x 0x 7.49x 0.7x
Capitalization / Revenue 7.7x 5x 6.27x 6.5x 4.39x 3.36x 2.88x 2.54x
EV / Revenue 7.82x 5.22x 6.51x 6.72x 4.59x 3.53x 3x 2.6x
EV / EBITDA 26.4x 20.3x 24.8x 25.1x 16.3x 13x 11x 9.91x
EV / EBIT 45.7x 39.2x 46.1x 46.2x 28.1x 23.2x 19x 15.6x
EV / FCF 31.4x 27.5x 31.5x 31.8x 20x 16.4x 14.1x 13.3x
FCF Yield 3.18% 3.63% 3.17% 3.15% 5% 6.1% 7.09% 7.54%
Dividend per Share 2 4 - - 4 4 3.968 4 4
Rate of return 0.22% - - 0.13% 0.17% 0.18% 0.18% 0.18%
EPS 2 14.65 24.18 26.67 34.48 24.15 58.36 61.16 84.61
Distribution rate 27.3% - - 11.6% 16.6% 6.8% 6.54% 4.73%
Net sales 1 5,106 6,622 8,407 10,066 11,623 13,819 16,130 18,329
EBITDA 1 1,512 1,701 2,209 2,690 3,278 3,754 4,416 4,808
EBIT 1 873 882 1,188 1,464 1,895 2,100 2,548 3,055
Net income 1 310 512 565 731 512 1,309 1,377 1,832
Net Debt 1 624 1,476 2,050 2,186 2,275 2,221 1,913 1,151
Reference price 2 1,854.57 1,561.94 2,487.65 3,089.23 2,407.81 2,194.13 2,194.13 2,194.13
Nbr of stocks (in thousands) 21,192 21,192 21,192 21,192 21,192 21,192 - -
Announcement Date 10/02/22 29/03/23 06/03/24 07/03/25 09/03/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
37.6x3.53x12.98x0.18% 46.5B
22.09x6.04x10.78x1.44% 407B
26.1x5.23x16.51x1.45% 247B
92.5x9.01x24.11x-.--% 148B
-5.93x101.65x881.35x-.--% 47.98B
29.4x11.47x18.76x-.--% 23.84B
35.18x2.33x21.19x-.--% 19.42B
115.42x11.1x47.3x-.--% 16.74B
-212.4x3.76x12.59x - 13.74B
24.16x3.99x14.71x2.19% 13B
Average 16.41x 15.81x 106.03x 0.59% 98.26B
Weighted average by Cap. 31.83x 10.92x 57.94x 1.01%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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