Software
Software companies range from high-growth platforms to disciplined serial acquirers. The lens is free-cash-flow yield and the durability of growth — how much cash the business generates relative to its price, and whether it can keep compounding that cash.
Reports in Software
Shopify Inc.
The commerce operating system for millions of merchants — high growth, now profitable and free-cash-flow positive.
Constellation Software Inc.
A serial acquirer of vertical-market software businesses — a disciplined, cash-generative compounding machine.
Descartes Systems Group
A Waterloo-based logistics-technology company that runs the Global Logistics Network, connecting shippers, carriers and customs authorities.
Kinaxis
An Ottawa-based maker of supply-chain planning software whose RapidResponse / Maestro platform helps large manufacturers plan production and inventory in near-real time.
Lightspeed Commerce
A Montreal-based commerce platform providing point-of-sale, payments and e-commerce software to retailers and restaurants worldwide.
Docebo
A Toronto-based learning-management software company whose AI-enabled platform delivers corporate training to enterprises worldwide.
Enghouse Systems
A Markham-based serial acquirer of vertical-market and communications software that runs its portfolio for cash generation and dividends.
Dye & Durham
A Toronto-based provider of legal-practice and property-transaction software that expanded aggressively through debt-funded acquisitions and is now working through a severe balance-sheet and governance crisis.
BlackBerry
The former smartphone pioneer, now a Waterloo-based software company focused on cybersecurity and embedded automotive/IoT software (QNX).
Computer Modelling Group
A Calgary-based maker of reservoir-simulation software that oil and gas producers use to model how fluids move through the ground.
Tecsys
A Montreal-based supply-chain software company specializing in complex distribution and healthcare logistics.
Coveo Solutions
A Quebec City AI-powered enterprise search and recommendation software company serving large corporate customers.
Sylogist
A Calgary-based provider of ERP and management software for the public sector, education and non-profit organizations.
CGI Inc.
Montreal-based global IT and business-consulting giant that compounds through disciplined acquisitions and throws off heavy free cash flow.
OpenText Corporation
Canada's largest software company — an information-management roll-up now shrinking to grow, converting a decline into strong free cash flow and a chunky dividend.
Celestica Inc.
An electronics-manufacturing and hardware-platform supplier re-rated into an AI-infrastructure momentum stock — booming revenue and earnings, but a thin FCF yield at a rich price.