Cash flow Constellation Software Inc.

Stocks

CSU

CA21037X1006

Software

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2,620.00 ^CAD	+2.12%		-6.50%	-20.68%

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134d4941dfb9248739c8b54cacc188cc.Px0HqjZ1kwbcgf6KKamgz1yH6KDvR69JKPej0ySvio0.eF9e4lctoU-X2JboZvno-z7hnce5GIJ4Sq7WqVfVx919fHT7fw3Ed6vtvw

Published financial data: CONSTELLATION SOFTWARE INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	5.11B	6.62B	8.4B	10.07B	11.62B
Other Revenues, Total	-1M	-	2M	-	-
Total Revenues	5.11B	6.62B	8.41B	10.07B	11.62B
Cost of Goods Sold, Total	3.23B	4.3B	5.46B	6.45B	7.26B
Gross Profit	1.88B	2.32B	2.95B	3.62B	4.37B
Selling General & Admin Expenses, Total	305M	556M	711M	874M	1.03B
Depreciation & Amortization - (IS)	121M	143M	162M	182M	201M
Amortization of Goodwill and Intangible Assets - (IS)	518M	676M	859M	1.04B	1.18B
Other Operating Expenses	65M	28M	33M	44M	23M
Other Operating Expenses, Total	1.01B	1.4B	1.76B	2.14B	2.44B
Operating Income	870M	920M	1.18B	1.47B	1.93B
Interest Expense, Total	-55M	-93M	-168M	-255M	-263M
Interest And Investment Income	2M	1M	3M	33M	46M
Net Interest Expenses	-53M	-92M	-165M	-222M	-217M
Income (Loss) On Equity Invest.	1M	-	5M	-	-1M
Currency Exchange Gains (Loss)	-1M	56M	-43M	26M	-154M
Other Non Operating Income (Expenses)	-438M	-112M	-748M	-237M	-301M
EBT, Excl. Unusual Items	379M	772M	230M	1.04B	1.26B
Impairment of Goodwill	-	-5M	-8M	-7M	-11M
Gain (Loss) On Sale Of Investments	2M	-16M	2M	-	-247M
Asset Writedown	-12M	-2M	-18M	-21M	-32M
Other Unusual Items	5M	-24M	60M	2M	-25M
EBT, Incl. Unusual Items	374M	725M	266M	1.01B	940M
Income Tax Expense	206M	175M	204M	244M	354M
Earnings From Continuing Operations	168M	550M	62M	768M	586M
Net Income to Company	168M	550M	62M	768M	586M
Minority Interest	142M	-38M	503M	-37M	-74M
Net Income - (IS)	310M	512M	565M	731M	512M
Net Income to Common Incl Extra Items	310M	512M	565M	731M	512M
Net Income to Common Excl. Extra Items	310M	512M	565M	731M	512M
Per Share Items
Net EPS - Basic	14.63	24.16	26.66	34.49	24.16
Basic EPS - Continuing Operations	14.63	24.16	26.66	34.49	24.16
Basic Weighted Average Shares Outstanding	21.19M	21.19M	21.19M	21.19M	21.19M
Net EPS - Diluted	14.63	24.16	26.66	34.48	24.15
Diluted EPS - Continuing Operations	14.63	24.16	26.66	34.48	24.15
Diluted Weighted Average Shares Outstanding	21.19M	21.19M	21.19M	21.19M	21.19M
Normalized Basic EPS	17.88	20.98	30.52	28.87	33.52
Normalized Diluted EPS	17.88	20.98	30.52	28.87	33.52
Dividend Per Share	4	4	4	4	4
Payout Ratio	27.42	16.6	15.04	11.63	16.6
American Depositary Receipts Ratio (ADR)	0	0	0	0	0
Supplemental Items
EBITDA	1.11B	1.25B	1.6B	1.97B	2.5B
EBITA	1.08B	1.2B	1.55B	1.92B	2.43B
EBIT	870M	920M	1.18B	1.47B	1.93B
EBITDAR	1.15B	1.29B	1.65B	2.03B	2.56B
Total Revenues (As Reported)	5.11B	6.62B	8.41B	10.07B	11.62B
Effective Tax Rate - (Ratio)	55.08	24.14	76.69	24.11	37.66
Total Current Taxes	257M	403M	370M	525M	606M
Total Deferred Taxes	-51M	-228M	-166M	-281M	-252M
Normalized Net Income	379M	444M	647M	612M	710M
Interest on Long-Term Debt	68M	93M	168M	283M	299M
Supplemental Operating Expense Items
Advertising Expense	-	86M	111M	130M	157M
Selling and Marketing Expenses	-	86M	111M	130M	157M
General and Administrative Expenses	79M	114M	151M	178M	219M
Research And Development Expense From Footnotes	1.09B	1.4B	1.8B	2.16B	2.42B
Net Rental Expense, Total	39M	47M	47M	61M	67M
Imputed Operating Lease Interest Expense	14.16M	19.04M	21.16M	30.3M	27.32M
Imputed Operating Lease Depreciation	24.84M	27.96M	25.84M	30.7M	39.68M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	763M	811M	1.28B	1.98B	3.09B
Short Term Investments	-	-	-	-	-
Trading Asset Securities, Total	39M	115M	14M	14M	52M
Total Cash And Short Term Investments	802M	926M	1.3B	1.99B	3.14B
Accounts Receivable, Total	740M	1.11B	1.47B	1.66B	1.92B
Other Receivables	102M	158M	242M	264M	298M
Total Receivables	842M	1.26B	1.71B	1.92B	2.22B
Inventory	35M	48M	51M	56M	68M
Prepaid Expenses	155M	223M	282M	319M	377M
Other Current Assets, Total	1M	-	-	-	-1M
Total Current Assets	1.84B	2.46B	3.34B	4.29B	5.8B
Gross Property Plant And Equipment	641M	792M	924M	1.12B	1.32B
Accumulated Depreciation	-307M	-388M	-479M	-575M	-705M
Net Property Plant And Equipment	334M	404M	445M	544M	616M
Long-term Investments	2M	3M	10M	14M	655M
Goodwill	610M	807M	1.27B	1.46B	1.78B
Other Intangibles, Total	2.82B	3.88B	5.44B	6.02B	6.62B
Accounts Receivable Long-Term	39M	96M	192M	203M	216M
Deferred Tax Assets Long-Term	66M	160M	107M	219M	355M
Deferred Charges Long-Term	46M	55M	71M	91M	110M
Other Long-Term Assets, Total	12M	17M	13M	21M	19M
Total Assets	5.77B	7.88B	10.9B	12.86B	16.17B
Liabilities
Accounts Payable, Total	832M	1.08B	1.43B	1.59B	1.94B
Short-term Borrowings	51M	457M	746M	226M	391M
Current Portion of Long-Term Debt	152M	364M	340M	396M	975M
Current Portion of Leases	79M	96M	112M	115M	141M
Current Income Taxes Payable	56M	97M	90M	111M	150M
Unearned Revenue Current, Total	1.16B	1.48B	1.76B	1.97B	2.21B
Other Current Liabilities	133M	190M	1.02B	268M	262M
Total Current Liabilities	2.46B	3.77B	5.5B	4.67B	6.07B
Long-Term Debt	915M	1.15B	2.25B	3.54B	4B
Long-Term Leases	190M	217M	236M	252M	282M
Unearned Revenue Non Current	52M	100M	88M	89M	119M
Deferred Tax Liability Non Current	436M	471M	625M	673M	890M
Other Non Current Liabilities	192M	240M	246M	346M	540M
Total Liabilities	4.25B	5.95B	8.94B	9.58B	11.9B
Common Stock, Total	99M	99M	99M	99M	99M
Retained Earnings	1.21B	1.76B	1.88B	2.92B	3.35B
Comprehensive Income and Other	-245M	-150M	-99M	-224M	130M
Total Common Equity	1.06B	1.71B	1.88B	2.79B	3.58B
Minority Interest	460M	221M	85M	493M	692M
Total Equity	1.52B	1.93B	1.96B	3.29B	4.27B
Total Liabilities And Equity	5.77B	7.88B	10.9B	12.86B	16.17B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	21.19M	21.19M	21.19M	21.19M	21.19M
ECS Total Common Shares Outstanding	21.19M	21.19M	21.19M	21.19M	21.19M
Book Value / Share	50.02	80.79	88.53	131.85	168.75
Tangible Book Value	-2.37B	-2.97B	-4.84B	-4.68B	-4.82B
Tangible Book Value Per Share	-111.93	-140.34	-228.39	-220.98	-227.5
Total Debt	1.39B	2.29B	3.68B	4.53B	5.79B
Net Debt	585M	1.36B	2.38B	2.54B	2.65B
Debt Equivalent Oper. Leases	312M	376M	376M	488M	536M
Minority Interest, Total (Incl. Fin. Div)	460M	221M	85M	493M	692M
Equity Method Investments, Total	2M	3M	10M	14M	655M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	14M	13M	10M	13M	15M
Inventories - Work In Process, Total	2M	5M	11M	5M	6M
Inventories - Finished Goods, Total	19M	30M	30M	38M	47M
Buildings, Total	7M	7M	8M	7M	13M
Machinery, Total	168M	217M	261M	382M	453M
Full Time Employees	-	45K	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	32M	82M	110M	111M	111M

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	310M	512M	565M	731M	512M
Depreciation & Amortization - CF	118M	137M	162M	176M	196M
Amortization of Goodwill and Intangible Assets - (CF)	205M	282M	365M	444M	505M
Depreciation & Amortization, Total	323M	419M	527M	620M	701M
Amortization of Deferred Charges, Total - (CF)	318M	405M	499M	613M	689M
(Gain) Loss on Sale of Investments - (CF)	-2M	16M	-2M	-	247M
Asset Writedown & Restructuring Costs	12M	7M	26M	28M	43M
(Income) Loss On Equity Investments - (CF)	-1M	-	-5M	-	1M
Other Operating Activities, Total	295M	-2M	205M	249M	545M
Change In Accounts Receivable	-35M	-107M	-114M	-67M	32M
Change In Inventories	1M	-9M	4M	6M	8M
Change In Accounts Payable	80M	73M	151M	109M	80M
Change in Unearned Revenues	55M	66M	75M	66M	-25M
Change in Other Net Operating Assets	-56M	-83M	-152M	-159M	-101M
Cash from Operations	1.3B	1.3B	1.78B	2.2B	2.73B
Capital Expenditure	-29M	-41M	-42M	-67M	-68M
Cash Acquisitions	-1.18B	-1.57B	-1.7B	-1.52B	-1.34B
Investment in Marketable and Equity Securities, Total	-31M	-91M	96M	-1M	-530M
Other Investing Activities, Total	5M	4M	2M	20M	57M
Cash from Investing	-1.24B	-1.69B	-1.64B	-1.57B	-1.88B
Short Term Debt Issued, Total	-	322M	256M	-	-
Long-Term Debt Issued, Total	206M	567M	683M	1.45B	816M
Total Debt Issued	206M	889M	939M	1.45B	816M
Short Term Debt Repaid, Total	-	-	-	-578M	-
Long-Term Debt Repaid, Total	-111M	-196M	-391M	-267M	-377M
Total Debt Repaid	-111M	-196M	-391M	-845M	-377M
Common Dividends Paid	-85M	-85M	-85M	-85M	-85M
Common & Preferred Stock Dividends Paid	-85M	-85M	-85M	-85M	-85M
Special Dividend Paid	-	-	-	-	-
Other Financing Activities, Total	-51M	-125M	-147M	-410M	-198M
Cash from Financing	-41M	483M	316M	114M	156M
Foreign Exchange Rate Adjustments	-16M	-39M	17M	-48M	102M
Miscellaneous Cash Flow Adjustments	-	1M	-	1M	-
Net Change in Cash	5M	48M	473M	696M	1.11B
Supplemental Items
Cash Interest Paid	49M	85M	144M	192M	212M
Cash Income Tax Paid (Refund)	257M	343M	394M	460M	556M
Levered Free Cash Flow	1.26B	1.47B	2.55B	1.32B	2.64B
Unlevered Free Cash Flow	1.29B	1.52B	2.65B	1.47B	2.8B
Change In Net Working Capital	-139M	-170M	-936M	609M	-278M
Net Debt Issued / Repaid	95M	693M	548M	609M	439M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	10.72	8.43	7.86	7.75	8.3
Return on Total Capital	21.79	16.14	14.97	13.66	13.48
Return On Equity %	13.08	31.86	3.18	29.27	15.51
Return on Common Equity	29.41	36.94	31.49	31.31	16.08
Margin Analysis
Gross Profit Margin %	36.8	35.08	35.04	35.91	37.58
SG&A Margin	5.97	8.4	8.46	8.68	8.9
EBITDA Margin %	21.74	18.82	19.08	19.59	21.47
EBITA Margin %	21.05	18.15	18.39	19.02	20.93
EBIT Margin %	17.04	13.89	14.05	14.61	16.59
Income From Continuing Operations Margin %	3.29	8.31	0.74	7.63	5.04
Net Income Margin %	6.07	7.73	6.72	7.26	4.4
Net Avail. For Common Margin %	6.07	7.73	6.72	7.26	4.4
Normalized Net Income Margin	7.42	6.71	7.69	6.08	6.11
Levered Free Cash Flow Margin	24.68	22.2	30.37	13.08	22.72
Unlevered Free Cash Flow Margin	25.32	23	31.56	14.6	24.07
Asset Turnover
Asset Turnover	1.01	0.97	0.9	0.85	0.8
Fixed Assets Turnover	15.29	17.95	19.8	20.36	20.04
Receivables Turnover (Average Receivables)	7.73	7.17	6.51	6.44	6.49
Inventory Turnover (Average Inventory)	104.1	103.59	110.32	120.58	117.02
Short Term Liquidity
Current Ratio	0.75	0.65	0.61	0.92	0.96
Quick Ratio	0.67	0.58	0.55	0.84	0.88
Operating Cash Flow to Current Liabilities	0.53	0.34	0.32	0.47	0.45
Days Sales Outstanding (Average Receivables)	47.21	50.87	56.09	56.79	56.21
Days Outstanding Inventory (Average Inventory)	3.51	3.52	3.31	3.04	3.12
Average Days Payable Outstanding	84.51	80.92	84	85.49	88.7
Cash Conversion Cycle (Average Days)	-33.8	-26.52	-24.61	-25.66	-29.37
Long Term Solvency
Total Debt/Equity	91.25	118.31	187.76	137.91	135.59
Total Debt / Total Capital	47.71	54.19	65.25	57.97	57.55
LT Debt/Equity	72.7	70.87	126.67	115.49	100.28
Long-Term Debt / Total Capital	38.01	32.46	44.02	48.54	42.57
Total Liabilities / Total Assets	73.64	75.48	82.01	74.45	73.61
EBIT / Interest Expense	15.82	9.89	7.03	5.77	7.33
EBITDA / Interest Expense	21.69	14.4	10.17	8.2	10
(EBITDA - Capex) / Interest Expense	21.16	13.96	9.92	7.94	9.74
Total Debt / EBITDA	1.16	1.71	2.16	2.17	2.2
Net Debt / EBITDA	0.49	1.02	1.4	1.21	1.01
Total Debt / (EBITDA - Capex)	1.19	1.76	2.21	2.24	2.26
Net Debt / (EBITDA - Capex)	0.5	1.05	1.43	1.25	1.03
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	28.65	29.69	26.96	19.73	15.47
Gross Profit, 1 Yr. Growth %	25.94	23.63	26.82	22.71	20.83
EBITDA, 1 Yr. Growth %	29.22	12.25	28.12	23.25	26.57
EBITA, 1 Yr. Growth %	29.52	11.81	28.62	23.79	27.05
EBIT, 1 Yr. Growth %	26.45	5.75	28.37	24.45	31.07
Earnings From Cont. Operations, 1 Yr. Growth %	-61.47	227.38	-88.73	1.14K	-23.7
Net Income, 1 Yr. Growth %	-28.9	65.16	10.35	29.38	-29.96
Normalized Net Income, 1 Yr. Growth %	5.24	17.32	45.5	-5.5	16.12
Diluted EPS Before Extra, 1 Yr. Growth %	-28.9	65.16	10.35	29.32	-29.96
Accounts Receivable, 1 Yr. Growth %	27.37	49.46	32.49	13.53	15.66
Inventory, 1 Yr. Growth %	29.63	37.14	6.25	9.8	21.43
Net Property, Plant and Equip., 1 Yr. Growth %	0	20.96	10.15	22.25	13.24
Total Assets, 1 Yr. Growth %	31.79	36.7	38.45	18.42	25.86
Tangible Book Value, 1 Yr. Growth %	85.31	25.38	63.68	-2.6	3.28
Common Equity, 1 Yr. Growth %	1.14	61.51	9.58	48.93	27.99
Cash From Operations, 1 Yr. Growth %	9.61	-0.23	37.16	23.44	24.41
Capital Expenditures, 1 Yr. Growth %	16	41.38	2.44	59.52	1.49
Levered Free Cash Flow, 1 Yr. Growth %	16.58	16.62	73.93	-48.31	101.73
Unlevered Free Cash Flow, 1 Yr. Growth %	16.89	17.81	74.43	-44.5	91.46
Dividend Per Share, 1 Yr. Growth %	0	0	0	0	0
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	20.96	29.17	28.32	23.29	17.58
Gross Profit, 2 Yr. CAGR %	20.6	24.78	25.21	24.75	21.77
EBITDA, 2 Yr. CAGR %	30.28	20.44	20.21	25.5	24.9
EBITA, 2 Yr. CAGR %	31.15	20.34	19.92	26.22	25.41
EBIT, 2 Yr. CAGR %	29.35	15.64	16.51	26.45	27.72
Earnings From Cont. Operations, 2 Yr. CAGR %	-28.97	12.32	-39.25	18.17	207.43
Net Income, 2 Yr. CAGR %	-3.52	8.37	35	19.49	-4.81
Normalized Net Income, 2 Yr. CAGR %	20.14	11.12	30.65	17.31	4.75
Diluted EPS Before Extra, 2 Yr. CAGR %	-3.52	8.37	35	19.46	-4.83
Accounts Receivable, 2 Yr. CAGR %	17.94	37.97	41.04	22.27	14.56
Inventory, 2 Yr. CAGR %	6.26	33.33	20.71	8.01	15.47
Net Property, Plant and Equip., 2 Yr. CAGR %	4.3	9.98	15.43	16.04	17.66
Total Assets, 2 Yr. CAGR %	28.57	34.22	37.49	27.83	22.02
Tangible Book Value, 2 Yr. CAGR %	34.31	52.43	42.85	25.85	0.14
Common Equity, 2 Yr. CAGR %	24.22	27.81	33.03	27.75	38.06
Cash From Operations, 2 Yr. CAGR %	30.19	4.57	16.98	30.12	23.92
Capital Expenditures, 2 Yr. CAGR %	-7.65	28.06	20.34	27.83	27.24
Levered Free Cash Flow, 2 Yr. CAGR %	23.18	16.6	42.33	-5.28	1.81
Unlevered Free Cash Flow, 2 Yr. CAGR %	23.03	17.35	43.26	-1.71	2.8
Dividend Per Share, 2 Yr. CAGR %	0	0	0	0	0
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	18.61	23.8	28.43	25.39	20.63
Gross Profit, 3 Yr. CAGR %	18.33	21.6	25.46	24.37	23.43
EBITDA, 3 Yr. CAGR %	24.37	23.97	23.14	21.11	25.86
EBITA, 3 Yr. CAGR %	24.65	24.36	23.04	21.22	26.5
EBIT, 3 Yr. CAGR %	22.27	20.95	19.73	19.13	27.97
Earnings From Cont. Operations, 3 Yr. CAGR %	-23.75	18.21	-47.8	65.97	2.14
Net Income, 3 Yr. CAGR %	-6.48	15.42	9.02	33.1	0
Normalized Net Income, 3 Yr. CAGR %	13.46	19.19	21.57	17.32	16.92
Diluted EPS Before Extra, 3 Yr. CAGR %	-6.48	15.42	9.02	33.08	-0.01
Accounts Receivable, 3 Yr. CAGR %	18.74	27.63	36.33	30.93	20
Inventory, 3 Yr. CAGR %	0.97	15.69	23.61	16.96	12.31
Net Property, Plant and Equip., 3 Yr. CAGR %	77.23	9.58	10.04	17.66	15.1
Total Assets, 3 Yr. CAGR %	25.24	31.23	35.56	30.66	27.12
Tangible Book Value, 3 Yr. CAGR %	50.92	31.26	55.79	25.45	17.7
Common Equity, 3 Yr. CAGR %	6.97	35.58	21.42	38.14	27.83
Cash From Operations, 3 Yr. CAGR %	25.23	19.14	14.47	19.1	28.19
Capital Expenditures, 3 Yr. CAGR %	5.07	6.44	18.88	32.2	18.37
Levered Free Cash Flow, 3 Yr. CAGR %	23.71	20.96	33.17	1.48	21.62
Unlevered Free Cash Flow, 3 Yr. CAGR %	23.83	21.27	33.87	4.36	22.53
Dividend Per Share, 3 Yr. CAGR %	-	0	0	0	0
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	19.16	21.71	22.4	23.6	23.97
Gross Profit, 5 Yr. CAGR %	18.89	19.91	21.04	22.85	23.97
EBITDA, 5 Yr. CAGR %	22.21	21.27	22.69	24.7	23.78
EBITA, 5 Yr. CAGR %	22.52	21.43	22.74	25.1	24
EBIT, 5 Yr. CAGR %	20.84	18.32	19.93	23.12	22.89
Earnings From Cont. Operations, 5 Yr. CAGR %	-4.07	19.91	-30.38	18.19	6.09
Net Income, 5 Yr. CAGR %	8.43	18.2	8.31	17.03	3.27
Normalized Net Income, 5 Yr. CAGR %	16.75	17.44	20.05	18.44	14.56
Diluted EPS Before Extra, 5 Yr. CAGR %	8.44	18.2	8.31	17.02	3.26
Accounts Receivable, 5 Yr. CAGR %	19.78	23.78	27.2	25.57	27.01
Inventory, 5 Yr. CAGR %	12.22	15.65	8.45	12.56	20.29
Net Property, Plant and Equip., 5 Yr. CAGR %	50.94	52.18	49.29	12.12	13.02
Total Assets, 5 Yr. CAGR %	25.08	28.06	30	29.82	29.88
Tangible Book Value, 5 Yr. CAGR %	34.45	38.6	47.64	28.92	30.37
Common Equity, 5 Yr. CAGR %	18.3	23.16	16.72	32.39	27.82
Cash From Operations, 5 Yr. CAGR %	21.5	19.7	21.86	23.41	18.16
Capital Expenditures, 5 Yr. CAGR %	8.71	15.79	10.93	14.53	22.16
Levered Free Cash Flow, 5 Yr. CAGR %	21.55	20.78	30.85	9.66	19.55
Unlevered Free Cash Flow, 5 Yr. CAGR %	21.47	21.12	31.26	11.46	20.4
Dividend Per Share, 5 Yr. CAGR %	0	0	-	0	0