TSE:CSU
Constellation Software Inc. (CSU.TO)
Financials 
Technical Analysis 
Jul 13, 2026, 12:00 amThis summary was created by AI, based on 86 opinions in the last 12 months.
Constellation Software Inc. (CSU) has faced significant challenges recently, particularly concerning the departure of its long-serving CEO, Mark Leonard, and increasing fears about AI's potential disruption of traditional software businesses. Many analysts believe the company's strong acquisition model and established market presence position it well for future growth, although concerns about its ability to sustain its roll-up strategy persist, especially in light of competitive pressures and market sentiment around software. The consensus from various experts suggests that while the current valuation is attractive, especially compared to historical levels, caution is advised given the potential for continued volatility and the need for the company to demonstrate sustained organic growth. Overall, despite the mixed sentiments regarding its immediate future, a substantial number of analysts remain bullish on CSU's long-term growth prospects, reflecting confidence in its business model and management team.
It is a consolidator of software companies and is now spinning off a new one called Lumin which should start trading soon. Last year it spun off a company called Topicus. Constellation Software is still an undiscovered stock. Its brilliant management has built a great runway of growth with lots of cash flow. People who buy their software stick with it.
Barry Schwartz
No, this is not the alcohol conglomerate, but a highly successful Canadian software company that boasts returns of 11% in the past year and 183% over the last five. For a tech company, CSU boasts a low beta of 0.81 and trades at a PE just below 81x. Compare that valuation to its five-year median average of 62.55x, but the current level remains 50% lower than its peak of 128.13x at the end of 2021. Read: Risk tolerance and safety for our full analysis.
His #1 holding. Best creator of shareholder value on the TSX since it went public in 2006. Has done about 700 acquisitions. Exceptional capital allocation skills. Good for growth part of a portfolio. New spinoff, Lumine, is cut from the same cloth.
Jason Del VicarioHis top conviction weight. Exceptionally well run. Did another spinoff, and he expects the Lumine shares in his account shortly.
Jason Del Vicario
Kim Bolton
Jason MannTrevor Rose’s Insights - Trevor’s most-liked answers from 5i Research. Accelerated quarterly revenue growth. Industry leader in acquiring VMS software businesses. Mission-critical software provider with significant pricing power. Continues to be acquisitive, decentralized management. Unlock Premium - Try 5i Free
Barry Schwartz
Greg NewmanKim Bolton
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Incredible success over the years. Very successful spinouts. He's never afraid to add with new cash. With this stock, it doesn't matter what's happening with the economy, as they create value no matter what. Hold it through the cycle.