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CSU
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Current Price
$2,969.32
Expected Value
$4,190.85
Implied Move
+41.1%
Current vs low/median/mean/high target prices
Constellation Software acquires, manages and builds vertical market software businesses. Its model is based on decentralized business units that serve specific vertical markets, generate cash flow from software and related services, and reinvest capital into organic initiatives and acquisitions that meet investment return objectives. The corporate head office provides capital allocation, acquisition, finance, tax, compensation and strategic support, while operating groups and business unit managers run day-to-day market execution.
Constellation Software Inc. is a Toronto-based software company listed on the TSX under CSU. The company acquires, manages and builds vertical market software businesses that provide mission-critical software solutions for customers in specific public and private sector markets. As of its 2025 Annual Information Form, Constellation had six operating groups serving customers in more than 150 vertical markets worldwide.
Constellation's cost structure is driven primarily by staff costs, hardware costs, third-party license, maintenance and professional service costs, travel, telecommunications, supplies, software and equipment, professional fees, depreciation, amortization of intangible assets, finance costs, taxes, acquisition costs and other operating expenses. The company's results are also affected by foreign exchange, acquisition accounting, lease obligations, debt costs, R&D tax credits, and the costs of operating many decentralized business units across jurisdictions.
Constellation primarily uses direct sales forces in major markets and dedicated sales groups for each vertical market. Its sales and marketing strategy emphasizes industry-specific expertise, long-term customer relationships, additional product and service sales to existing customers, field and inside sales where appropriate, trade shows, trade magazine advertising, user conferences and product demonstrations. The company also expands distribution through acquired businesses with established customer relationships in their vertical markets.
Capital structure composition and liquidity ratios
At March 31, 2026, total assets were $26.080 billion, up from $23.934 billion at December 31, 2025. Current assets were $5.956 billion, including cash and cash equivalents of $3.010 billion, accounts receivable of $1.630 billion, and unbilled revenue of $478 million. The non-current asset base reflected the acquisition model, with goodwill of $10.627 billion and intangible assets of $8.598 billion. Total current liabilities were $7.377 billion, including deferred revenue of $3.721 billion, accounts payable and accrued liabilities of $2.632 billion, and acquisition holdbacks of $570 million. Total liabilities were $16.630 billion, while shareholders' equity attributable to common shareholders was $6.821 billion and non-controlling interests were $2.629 billion.
CSU entered the end of Q1 2026 with $3.010 billion of cash and cash equivalents, total current assets of $5.956 billion, and total liabilities of $16.630 billion. Debt with recourse to CSI declined to $4.231 billion from $4.718 billion at year-end, while debt without recourse to CSI was $1.161 billion in total current and non-current balances. The cash-flow profile remained strong relative to reported earnings: operating cash flow of $1.016 billion exceeded net income of $410 million, supported by deferred revenue and non-cash amortization. The main use of cash was acquisition activity, with $1.000 billion paid for business acquisitions net of cash acquired. The balance sheet therefore shows both high cash generation and continuing reinvestment into acquired software businesses.
Operating, investing, and financing cash flow by period
Operating cash flow was $1.016 billion in Q1 2026, compared with $736 million in Q1 2025. The statement of cash flows shows net income of $410 million, amortization of $308 million, finance costs of $81 million, and a $185 million positive change in non-cash operating working capital. Working capital benefited from a $628 million increase in current deferred revenue, partly offset by higher receivables, unbilled revenue, and a $242 million decrease in accounts payable and accrued liabilities. Investing cash flow was a $1.007 billion outflow, driven by $1.000 billion of business acquisition payments net of cash acquired. Financing cash flow was a $288 million outflow, including reduced debt with recourse to CSI and dividends paid to common shareholders. Cash decreased by $78 million in the quarter to $3.010 billion.
| Peer Set | EPS Growth | Company Name | Revenue Growth |
|---|---|---|---|
| SHOP | Shopify Inc. | 34.3% | |
| DSG | 21.0% | The Descartes Systems Group Inc. | 15.1% |
| OTEX | 99.0% | Open Text Corporation | 2.2% |
| CLS | 147.3% |
| All numbers in thousands (USD) | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|---|
•Total Revenue | 12,151,000 | 11,623,000 | 10,066,000 | 8,405,000 | 6,622,000 |
| All numbers in thousands (USD) | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|
•Total Assets | 16,171,000 | 12,848,000 | 10,862,000 | 7,872,000 |
•Current Assets |
| All numbers in thousands (USD) | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|---|
•Operating Cash Flow | 2,802,000 | 2,732,000 | 2,196,000 | 1,779,000 | 1,297,000 |
| Value | Shares | Holder Type | Shareholder | Date Reported | Percentage Out |
|---|---|---|---|---|---|
| 1,114,726,000 | 416,720 | mutual_fund | Professionally Managed Portfolios-Akre Focus ETF | Jan 2026 | 1.97% |
| 773,960,425 | 289,331 | mutual_fund | VANGUARD STAR FUNDS-Vanguard Total International Stock Index Fund | Jan 2026 | 1.37% |
| 763,474,425 | 285,411 | mutual_fund |
Constellation operates globally through business units and operating groups with primary geographic markets in North America, Continental Europe, the United Kingdom, South America, Africa and Australia. Its 2024 revenue exposure was transacted across the United States, Canada, the United Kingdom and Europe, and the rest of the world. Significant offices and subsidiaries are located across Canada, the United States, Europe, India, Latin America, Australia, New Zealand, South Africa, Israel and other jurisdictions.
Key operating levers include acquisition volume and returns, organic revenue growth, maintenance and other recurring revenue retention, customer attrition, software license revenue, professional services activity, hardware and other sales, operating group profitability, free cash flow available to shareholders, capital allocation, decentralized management performance, staff productivity, product development, customer support quality, and the ability to identify and integrate vertical market software businesses. Seasonality is influenced by annual maintenance contract renewals, which typically make first-quarter operating cash flow and free cash flow the highest of the year.
Constellation sells, services, supports and enhances numerous software products across its vertical markets. Its products help customers automate business processes and vary by market, including areas such as public transit, private clubs, healthcare, local government, utilities, education, financial services, communications, construction, hospitality, manufacturing, real estate, retail and other specialized markets. Revenue categories include software licenses, maintenance and other recurring fees, professional services such as implementation, custom programming, training and consulting, and hardware and other revenue.
Constellation operates in a global software and services environment subject to securities, tax, employment, international trade, privacy, data protection, healthcare information, cybersecurity and intellectual property laws. Its risk disclosures identify exposure to data security incidents, privacy breach notification rules, GDPR, HIPAA and similar laws, complex international tax and financial reporting compliance, tariffs, duties, price controls and country-of-origin restrictions. The company also faces technology competition, product architecture change, customer attrition and the need to retain qualified sales, support, development and management personnel.
Revenue is driven by maintenance and other recurring fees, professional services, software license fees, hardware and other revenue, organic growth, pricing, customer retention, acquisitions and foreign exchange. Q1 2026 revenue increased 20% to $3.181 billion, with maintenance and other recurring revenue the largest category at $2.444 billion, followed by professional services, hardware and other, and license revenue. The company reports organic growth metrics by revenue type and notes that customers typically buy a mix of software, maintenance, professional services and hardware.
Normalized cash conversion and accrual quality metrics
Cash Conversion
2.44x
Good
Accrual Intensity
-16.7%
Good
Earnings Margin
11.5%
OK
OCF Margin
28.2%
Good
Cash Conversion
2.44x
Accrual Intensity
-16.7%
Earnings Margin
11.5%
OCF Margin
28.2%
Revenue
$3.2M
Net Income
$367K
Operating CF
$897K
The Q1 2026 packet separates reported IFRS results from non-IFRS measures such as adjusted EBITDA, adjusted net income, and free cash flow available to shareholders. Adjusted EBITDA was $913 million, up 24%, and adjusted net income was $658 million, up 49%, while reported net income attributable to common shareholders was $367 million. Comparability was affected by a $25 million unrealized gain on CSI's investment in the Topicus Coop in Q1 2026 versus a $33 million unrealized loss in Q1 2025. Acquisition accounting remains important because goodwill and intangible assets are large balance-sheet items and amortization was $308 million in the quarter. The company also reports meaningful non-controlling interests for Topicus, Adapt IT, and Lumine, so net income attributable to common shareholders differs from consolidated net income.
Insufficient structured data
Earnings history visual unavailable for this report.
The source packet does not provide a numerical revenue, margin, or earnings forecast. Management's Q1 shareholder report instead gives operating context: organic growth was muted at 0%, with lower systems-integration revenue at a couple of businesses, while net retention remained relatively high. Segment comments were mixed, with positive organic growth at Harris, Vela, Jonas, Perseus, and Topicus, and weaker transactional and professional-services activity affecting Lumine. Management also described the acquisition environment as more attractive, with better purchase prices and higher activity, while noting that growth profiles can weaken in a softer macro environment. Subsequent events disclosed completed or open acquisition commitments totaling $786 million after quarter-end, providing documented near-term capital deployment context.
The current quarter continues Constellation Software's acquisition-centered expansion pattern described in the annual information form and Q1 shareholder report. In 2024, the company completed acquisitions for aggregate consideration of $1.792 billion, and in Q1 2026 it completed additional acquisitions with estimated total consideration of $1.216 billion. Reported Q1 2026 revenue grew 17% year over year, but organic growth was 0%, so the historical comparison is shaped more by acquired revenue than by same-business growth. Maintenance and other recurring revenue rose to $2.291 billion from $1.964 billion, supporting a recurring revenue base across the company's vertical-market software businesses. Net income attributable to common shareholders increased to $367 million from $136 million, helped by the larger operating base and a favorable change in the Topicus Coop investment mark.
Revenue (USD) and profitability margins (% of revenue)
Constellation Software reported Q1 2026 revenue of $3.117 billion, up 17% from $2.669 billion in Q1 2025. The increase was acquisition-led: acquired businesses added $479 million of revenue, while organic growth was 0% and foreign exchange reduced revenue by $31 million. Maintenance and other recurring revenue remained the largest category at $2.291 billion, up 17%, with professional services revenue of $589 million, hardware and other revenue of $190 million, and license revenue of $48 million. Expenses rose with the larger business base, including staff expense of $1.436 billion, amortization of $308 million, and finance costs of $81 million. Net income attributable to common shareholders was $367 million, or $17.32 per diluted share, compared with $136 million, or $6.41 per diluted share, a year earlier.
Key Q1 2026 metrics in the approved packet include 17% reported revenue growth, 0% organic revenue growth, adjusted EBITDA of $913 million, and an adjusted EBITDA margin of 29%, compared with 28% in Q1 2025. Free cash flow available to shareholders was $677 million, up 69% from $401 million. Diluted earnings per share attributable to common shareholders were $17.32, compared with $6.41 a year earlier. Maintenance and other recurring revenue represented $2.291 billion of the $3.117 billion revenue base, or about three quarters of revenue. The quarter also included $1.216 billion of estimated total consideration for completed acquisitions and $786 million of subsequent completed or committed acquisition consideration after March 31, 2026.
Several Q1 2026 items should be separated from run-rate interpretation. Net income attributable to common shareholders benefited from a $25 million unrealized gain on CSI's Topicus Coop investment, compared with a $33 million unrealized loss in the prior-year quarter. Foreign exchange reduced revenue by $31 million, while acquired businesses added $479 million of revenue, so reported growth should not be read as organic growth. Acquisition spending was also elevated, with $1.216 billion of estimated total consideration for Q1 acquisitions and $786 million of subsequent completed or committed consideration disclosed after quarter-end. The quarter's strong operating cash flow included a positive deferred-revenue working-capital movement, so cash-flow trend analysis should distinguish recurring cash generation from timing effects and acquisition activity.
| Celestica Inc. |
| 52.8% |
| GIB-A | 10.6% | CGI Inc. | 3.3% |
| 169.9% | Subject (CSU) | 19.9% |
| ROA | ROE | Peer Set | Net Margin | Company Name | Gross Margin | Operating Margin |
|---|---|---|---|---|---|---|
| 9.6% | 11.3% | SHOP | 10.8% | Shopify Inc. | 48.0% | 15.7% |
| 7.8% | 10.9% | DSG | 22.5% | The Descartes Systems Group Inc. | 77.1% | 31.2% |
| 5.2% | 12.8% | OTEX | 9.9% | Open Text Corporation | 76.5% | 21.4% |
| 10.7% | 52.5% | CLS | 7.0% | Celestica Inc. | 12.0% | 6.6% |
| 8.8% | 16.6% | GIB-A | 10.3% | CGI Inc. | 20.5% | 16.6% |
| 8.0% | 19.7% | 6.1% | Subject (CSU) | 37.4% | 13.8% |
| P/B | P/E | P/S | Peer Set | EV/EBITDA | EV/Revenue | Market Cap | Forward P/E | Company Name | Enterprise Value |
|---|---|---|---|---|---|---|---|---|---|
| 10.96 | 102.15 | 15.11 | SHOP | 84.94x | 14.75x | $186.9bn | 44.74 | Shopify Inc. | $182.4bn |
| 3.82 | 38.10 | 11.59 | DSG | 27.09x | 11.43x | $8.4bn | 21.96 | The Descartes Systems Group Inc. | $8.3bn |
| 1.41 | 11.31 | 1.50 | OTEX | 8.31x | 2.50x | $7.8bn | 5.20 | Open Text Corporation | $13.0bn |
| 20.22 | 44.62 | 4.24 | CLS | 43.99x | 4.40x | $58.5bn | 24.56 | Celestica Inc. | $60.7bn |
| 1.96 | 12.15 | 1.19 | GIB-A | 8.04x | 1.44x | $19.5bn | 9.59 | CGI Inc. | $23.5bn |
| 10.62 | 55.38 | 4.69 | 25.59x | 5.11x | $57.0bn | 14.41 | Subject (CSU) | $62.0bn |
| 12,151,000 |
| 11,623,000 |
| 10,066,000 |
| 8,405,000 |
| 6,622,000 |
Cost of Revenue | 7,605,000 | 7,255,000 | 6,451,000 | 5,461,000 | 4,299,000 |
Gross Profit | 4,546,000 | 4,368,000 | 3,615,000 | 2,944,000 | 2,323,000 |
•Operating Expense | 2,368,000 | 2,260,000 | 1,970,000 | 1,621,000 | 1,289,000 |
•Selling General and Administrative | 922,000 | 877,000 | 744,000 | 600,000 | 470,000 |
•General & Administrative Expense | 922,000 | 877,000 | 744,000 | 600,000 | 470,000 |
Salaries and Wages | -- | -- | 5,322,000 | 4,493,000 | 3,539,000 |
Rental & Landing Fees | -- | 71,000 | 64,000 | 51,000 | 49,000 |
Other G and A | 851,000 | 806,000 | 680,000 | 549,000 | 421,000 |
•Depreciation Amortization Depletion | 1,446,000 | 1,383,000 | 1,226,000 | 1,021,000 | 819,000 |
•Depreciation & amortization | 1,446,000 | 1,383,000 | 1,226,000 | 1,021,000 | 819,000 |
Depreciation | 210,000 | 201,000 | 182,000 | 162,000 | 143,000 |
•Amortization | 1,236,000 | 1,182,000 | 1,044,000 | 859,000 | 676,000 |
Amortization of Intangibles | 1,236,000 | 1,182,000 | 1,044,000 | 859,000 | 676,000 |
Operating Income | 2,178,000 | 2,108,000 | 1,645,000 | 1,323,000 | 1,034,000 |
•Net Non Operating Interest Income Expense | -184,000 | -147,000 | -220,000 | -164,000 | -94,000 |
Interest Income Non Operating | 50,000 | 49,000 | 36,000 | 4,000 | 1,000 |
Interest Expense Non Operating | 261,000 | 256,000 | 248,000 | 163,000 | 88,000 |
Total Other Finance Cost | -27,000 | -60,000 | 8,000 | 5,000 | 7,000 |
•Other Income Expense | -824,000 | -1,023,000 | -415,000 | -895,000 | -217,000 |
Gain on Sale of Security | -33,000 | -74,000 | 26,000 | -41,000 | 40,000 |
Earnings from Equity Interest | -251,000 | -261,000 | 0 | 5,000 | 0 |
•Special Income Charges | -38,000 | -33,000 | -18,000 | 28,000 | 9,000 |
Restructuring & Mergers Acquisition | -10,000 | -10,000 | -10,000 | -54,000 | -16,000 |
Impairment of Capital Assets | 48,000 | 43,000 | 28,000 | 26,000 | 7,000 |
Other Non Operating Income Expenses | -502,000 | -655,000 | -423,000 | -887,000 | -266,000 |
Pretax Income | 1,170,000 | 939,000 | 1,011,000 | 265,000 | 725,000 |
Tax Provision | 357,000 | 353,000 | 244,000 | 204,000 | 175,000 |
•Net Income Common Stockholders | 743,000 | 512,000 | 731,000 | 565,000 | 512,000 |
•Net Income | 743,000 | 512,000 | 731,000 | 565,000 | 512,000 |
•Net Income Including Non-Controlling Interests | 812,000 | 586,000 | 767,000 | 62,000 | 551,000 |
Net Income Continuous Operations | 813,000 | 586,000 | 767,000 | 61,000 | 550,000 |
Minority Interests | -69,000 | -74,000 | -37,000 | 503,000 | -38,000 |
Diluted NI Available to Com Stockholders | 743,000 | 512,000 | 731,000 | 565,000 | 512,000 |
Basic EPS | 35.06 | 24.15 | 34.48 | 26.67 | 24.18 |
Diluted EPS | 35.06 | 24.15 | 34.48 | 26.67 | 24.18 |
Basic Average Shares | 21,191.53 | 21,191.53 | 21,191.53 | 21,191.53 | 21,191.53 |
Diluted Average Shares | 21,191.53 | 21,191.53 | 21,191.53 | 21,191.53 | 21,191.53 |
Rent Expense Supplemental | -- | 71,000 | 64,000 | 51,000 | 49,000 |
Total Expenses | 9,973,000 | 9,515,000 | 8,421,000 | 7,082,000 | 5,588,000 |
Net Income from Continuing & Discontinued Operation | 743,000 | 512,000 | 731,000 | 565,000 | 512,000 |
Normalized Income | 792,335.90 | 578,775.29 | 724,930.76 | 572,800 | 474,827.59 |
Interest Income | 50,000 | 49,000 | 36,000 | 4,000 | 1,000 |
Interest Expense | 261,000 | 256,000 | 248,000 | 163,000 | 88,000 |
Net Interest Income | -184,000 | -147,000 | -220,000 | -164,000 | -94,000 |
EBIT | 1,431,000 | 1,195,000 | 1,259,000 | 428,000 | 813,000 |
EBITDA | 2,877,000 | 2,578,000 | 2,485,000 | 1,449,000 | 1,632,000 |
Reconciled Cost of Revenue | 7,605,000 | 7,255,000 | 6,451,000 | 5,461,000 | 4,299,000 |
Reconciled Depreciation | 1,446,000 | 1,383,000 | 1,226,000 | 1,021,000 | 819,000 |
Net Income from Continuing Operation Net Minority Interest | 743,000 | 512,000 | 731,000 | 565,000 | 512,000 |
Total Unusual Items Excluding Goodwill | -71,000 | -107,000 | 8,000 | -13,000 | 49,000 |
Total Unusual Items | -71,000 | -107,000 | 8,000 | -13,000 | 49,000 |
Normalized EBITDA | 2,948,000 | 2,685,000 | 2,477,000 | 1,462,000 | 1,583,000 |
Tax Rate for Calcs | 0 | 0 | 0 | 0 | 0 |
Tax Effect of Unusual Items | -21,664.10 | -40,224.71 | 1,930.76 | -5,200 | 11,827.59 |
| All numbers in thousands (USD) | TTM | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 |
|---|---|---|---|---|---|---|
•Total Revenue | 12,151,000 | 3,181,000 | 3,177,000 | 2,947,000 | 2,843,000 | 2,653,000 |
Operating Revenue | 12,151,000 | 3,181,000 | 3,177,000 | 2,947,000 | 2,843,000 | 2,653,000 |
Cost of Revenue | 7,605,000 | 2,056,000 | 1,958,000 | 1,823,000 | 1,768,000 | 1,706,000 |
Gross Profit | 4,546,000 | 1,125,000 | 1,219,000 | 1,124,000 | 1,075,000 | 947,000 |
•Operating Expense | 2,368,000 | 604,000 | 615,000 | 580,000 | 552,000 | 496,000 |
•Selling General and Administrative | 922,000 | 223,000 | 245,000 | 221,000 | 216,000 | 178,000 |
•General & Administrative Expense | 922,000 | 223,000 | 245,000 | 221,000 | 216,000 | 178,000 |
Salaries and Wages | -- | -- | -- | 1,487,000 | 1,457,000 | 1,412,000 |
Rental & Landing Fees | -- | -- | 20,000 | 17,000 | 17,000 | 17,000 |
Other G and A | 851,000 | 223,000 | 225,000 | 204,000 | 199,000 | 178,000 |
•Depreciation Amortization Depletion | 1,446,000 | 381,000 | 370,000 | 359,000 | 336,000 | 318,000 |
•Depreciation & amortization | 1,446,000 | 381,000 | 370,000 | 359,000 | 336,000 | 318,000 |
Depreciation | 210,000 | 55,000 | 53,000 | 52,000 | 50,000 | 46,000 |
•Amortization | 1,236,000 | 326,000 | 317,000 | 307,000 | 286,000 | 272,000 |
Amortization of Intangibles | 1,236,000 | 326,000 | 317,000 | 307,000 | 286,000 | 272,000 |
Operating Income | 2,178,000 | 521,000 | 604,000 | 544,000 | 523,000 | 451,000 |
•Net Non Operating Interest Income Expense | -184,000 | -65,000 | -13,000 | -59,000 | -48,000 | -28,000 |
Interest Income Non Operating | 50,000 | 13,000 | 12,000 | 14,000 | 13,000 | 12,000 |
Interest Expense Non Operating | 261,000 | 68,000 | 68,000 | 64,000 | 62,000 | 63,000 |
Total Other Finance Cost | -27,000 | 10,000 | -43,000 | 9,000 | -1,000 | -23,000 |
•Other Income Expense | -824,000 | 37,000 | -333,000 | -247,000 | -301,000 | -162,000 |
Gain on Sale of Security | -33,000 | 46,000 | -51,000 | 85,000 | -115,000 | 5,000 |
Earnings from Equity Interest | -251,000 | 10,000 | -1,000 | -260,000 | 0 | 0 |
•Special Income Charges | -38,000 | -8,000 | -16,000 | -11,000 | -4,000 | -3,000 |
Restructuring & Mergers Acquisition | -10,000 | 0 | -4,000 | -1,000 | -5,000 | 0 |
Impairment of Capital Assets | 48,000 | 8,000 | 20,000 | 12,000 | 9,000 | 3,000 |
Other Non Operating Income Expenses | -502,000 | -11,000 | -265,000 | -61,000 | -182,000 | -164,000 |
Pretax Income | 1,170,000 | 493,000 | 258,000 | 239,000 | 179,000 | 262,000 |
Tax Provision | 357,000 | 93,000 | 92,000 | 77,000 | 95,000 | 89,000 |
•Net Income Common Stockholders | 743,000 | 367,000 | 110,000 | 210,000 | 56,000 | 136,000 |
•Net Income | 743,000 | 367,000 | 110,000 | 210,000 | 56,000 | 136,000 |
•Net Income Including Non-Controlling Interests | 812,000 | 400,000 | 166,000 | 162,000 | 85,000 | 174,000 |
Net Income Continuous Operations | 813,000 | 400,000 | 166,000 | 162,000 | 84,000 | 173,000 |
Minority Interests | -69,000 | -33,000 | -56,000 | 48,000 | -28,000 | -38,000 |
Diluted NI Available to Com Stockholders | 743,000 | 367,000 | 110,000 | 210,000 | 56,000 | 136,000 |
Basic EPS | 35.06 | 17.32 | -- | 9.89 | 2.66 | 6.41 |
Diluted EPS | 35.06 | 17.32 | -- | 9.89 | 2.66 | 6.41 |
Basic Average Shares | 21,191.53 | 21,191.53 | -- | 21,191.53 | 21,191.53 | 21,191.53 |
Diluted Average Shares | 21,191.53 | 21,191.53 | -- | 21,191.53 | 21,191.53 | 21,191.53 |
Rent Expense Supplemental | -- | -- | 20,000 | 17,000 | 17,000 | 17,000 |
Total Expenses | 9,973,000 | 2,660,000 | 2,573,000 | 2,403,000 | 2,320,000 | 2,202,000 |
Net Income from Continuing & Discontinued Operation | 743,000 | 367,000 | 110,000 | 210,000 | 56,000 | 136,000 |
Normalized Income | 792,335.90 | 336,220 | 153,108.53 | 159,680 | 157,150 | 134,680 |
Interest Income | 50,000 | 13,000 | 12,000 | 14,000 | 13,000 | 12,000 |
Interest Expense | 261,000 | 68,000 | 68,000 | 64,000 | 62,000 | 63,000 |
Net Interest Income | -184,000 | -65,000 | -13,000 | -59,000 | -48,000 | -28,000 |
EBIT | 1,431,000 | 561,000 | 326,000 | 303,000 | 241,000 | 325,000 |
EBITDA | 2,877,000 | 942,000 | 696,000 | 662,000 | 577,000 | 643,000 |
Reconciled Cost of Revenue | 7,605,000 | 2,056,000 | 1,958,000 | 1,823,000 | 1,768,000 | 1,706,000 |
Reconciled Depreciation | 1,446,000 | 381,000 | 370,000 | 359,000 | 336,000 | 318,000 |
Net Income from Continuing Operation Net Minority Interest | 743,000 | 367,000 | 110,000 | 210,000 | 56,000 | 136,000 |
Total Unusual Items Excluding Goodwill | -71,000 | 38,000 | -67,000 | 74,000 | -119,000 | 2,000 |
Total Unusual Items | -71,000 | 38,000 | -67,000 | 74,000 | -119,000 | 2,000 |
Normalized EBITDA | 2,948,000 | 904,000 | 763,000 | 588,000 | 696,000 | 641,000 |
Tax Rate for Calcs | 0 | 0 | 0 | 0 | 0 | 0 |
Tax Effect of Unusual Items | -21,664.10 | 7,220 | -23,891.47 | 23,680 | -17,850 | 680 |
| 5,803,000 |
| 4,291,000 |
| 3,339,000 |
| 2,466,000 |
•Cash, Cash Equivalents & Short Term Investments | 3,141,000 | 1,994,000 | 1,298,000 | 926,000 |
•Cash And Cash Equivalents | 3,089,000 | 1,980,000 | 1,284,000 | 811,000 |
Cash | -- | 1,980,000 | 1,284,000 | 811,000 |
Other Short Term Investments | 52,000 | 14,000 | 14,000 | 115,000 |
•Receivables | 2,218,000 | 1,924,000 | 1,712,000 | 1,270,000 |
•Accounts receivable | 1,470,000 | 1,291,000 | 1,138,000 | 892,000 |
Gross Accounts Receivable | 1,581,000 | 1,402,000 | 1,248,000 | 958,000 |
Allowance For Doubtful Accounts Receivable | -111,000 | -111,000 | -110,000 | -67,000 |
Taxes Receivable | 297,000 | 258,000 | 234,000 | 65,000 |
Other Receivables | 451,000 | 375,000 | 340,000 | 313,000 |
•Inventory | 68,000 | 56,000 | 51,000 | 48,000 |
Raw Materials | 15,000 | 13,000 | 10,000 | 13,000 |
Work in Process | 6,000 | 5,000 | 11,000 | 5,000 |
Finished Goods | 47,000 | 38,000 | 30,000 | 30,000 |
Other Current Assets | 376,000 | 317,000 | 278,000 | 222,000 |
•Total non-current assets | 10,368,000 | 8,557,000 | 7,523,000 | 5,406,000 |
•Net PPE | 624,000 | 550,000 | 453,000 | 412,000 |
•Gross PPE | 1,378,000 | 1,171,000 | 979,000 | 608,000 |
Properties | 0 | 0 | 0 | 0 |
Buildings And Improvements | 650,000 | 565,000 | 519,000 | 7,000 |
Machinery Furniture Equipment | 650,000 | 531,000 | 393,000 | 262,000 |
Other Properties | 6,000 | 5,000 | 4,000 | 283,000 |
Leases | 72,000 | 70,000 | 63,000 | 56,000 |
Accumulated Depreciation | -754,000 | -621,000 | -526,000 | -196,000 |
•Goodwill And Other Intangible Assets | 8,388,000 | 7,454,000 | 6,675,000 | 4,662,000 |
Goodwill | 1,781,000 | 1,451,000 | 1,263,000 | 792,000 |
Other Intangible Assets | 6,607,000 | 6,003,000 | 5,412,000 | 3,870,000 |
•Investments And Advances | 655,000 | 13,000 | 10,000 | 3,000 |
•Long Term Equity Investment | 655,000 | 13,000 | 10,000 | 3,000 |
Investments in Associatesat Cost | 655,000 | 13,000 | -- | -- |
Non Current Accounts Receivable | 19,000 | 21,000 | 13,000 | 115,000 |
•Non Current Deferred Assets | 465,000 | 313,000 | 179,000 | 214,000 |
Non Current Deferred Taxes Assets | 355,000 | 222,000 | 108,000 | 159,000 |
Other Non Current Assets | 217,000 | 206,000 | 193,000 | -1,000 |
•Total Liabilities Net Minority Interest | 11,903,000 | 9,561,000 | 8,901,000 | 5,939,000 |
•Current Liabilities | 6,074,000 | 4,661,000 | 5,483,000 | 3,772,000 |
•Payables And Accrued Expenses | 2,336,000 | 1,937,000 | 1,705,000 | 1,362,000 |
•Payables | 2,336,000 | 1,937,000 | 1,705,000 | 1,362,000 |
Accounts Payable | 1,941,000 | 1,591,000 | 1,427,000 | 1,083,000 |
•Total Tax Payable | 150,000 | 110,000 | 89,000 | 99,000 |
Income Tax Payable | 150,000 | 110,000 | 89,000 | 99,000 |
Dividends Payable | 21,000 | 21,000 | 21,000 | 21,000 |
Other Payable | 224,000 | 215,000 | 168,000 | 159,000 |
Current Provisions | 17,000 | 22,000 | 9,000 | 11,000 |
•Current Debt And Capital Lease Obligation | 1,507,000 | 737,000 | 1,198,000 | 917,000 |
•Current Debt | 1,366,000 | 622,000 | 1,086,000 | 821,000 |
Other Current Borrowings | 1,366,000 | 622,000 | 1,086,000 | 821,000 |
Current Capital Lease Obligation | 141,000 | 115,000 | 112,000 | 96,000 |
•Current Deferred Liabilities | 2,214,000 | 1,966,000 | 1,757,000 | 1,482,000 |
Current Deferred Revenue | 2,214,000 | 1,966,000 | 1,757,000 | 1,482,000 |
Other Current Liabilities | -- | -1,000 | 814,000 | -1,000 |
•Total Non Current Liabilities Net Minority Interest | 5,829,000 | 4,900,000 | 3,418,000 | 2,167,000 |
•Long Term Debt And Capital Lease Obligation | 4,280,000 | 3,796,000 | 2,484,000 | 1,371,000 |
Long Term Debt | 3,998,000 | 3,544,000 | 2,248,000 | 1,153,000 |
Long Term Capital Lease Obligation | 282,000 | 252,000 | 236,000 | 218,000 |
•Non Current Deferred Liabilities | 1,009,000 | 760,000 | 692,000 | 565,000 |
Non Current Deferred Taxes Liabilities | 890,000 | 671,000 | 604,000 | 465,000 |
Non Current Deferred Revenue | 119,000 | 89,000 | 88,000 | 100,000 |
Tradeand Other Payables Non Current | 208,000 | 133,000 | 88,000 | 73,000 |
Other Non Current Liabilities | 332,000 | 211,000 | 154,000 | 158,000 |
•Total Equity Gross Minority Interest | 4,268,000 | 3,287,000 | 1,961,000 | 1,933,000 |
•Stockholders' Equity | 3,576,000 | 2,794,000 | 1,876,000 | 1,712,000 |
•Capital Stock | 99,000 | 99,000 | 99,000 | 99,000 |
Common Stock | 99,000 | 99,000 | 99,000 | 99,000 |
Retained Earnings | 3,347,000 | 2,919,000 | 1,876,000 | 1,763,000 |
•Gains Losses Not Affecting Retained Earnings | 130,000 | -224,000 | -99,000 | -150,000 |
Other Equity Adjustments | 130,000 | -224,000 | -99,000 | -150,000 |
Minority Interest | 692,000 | 493,000 | 85,000 | 221,000 |
Total Capitalization | 7,574,000 | 6,338,000 | 4,124,000 | 2,865,000 |
Common Stock Equity | 3,576,000 | 2,794,000 | 1,876,000 | 1,712,000 |
Capital Lease Obligations | 423,000 | 367,000 | 348,000 | 314,000 |
Net Tangible Assets | -4,812,000 | -4,660,000 | -4,799,000 | -2,950,000 |
Working Capital | -271,000 | -370,000 | -2,144,000 | -1,306,000 |
Invested Capital | 8,940,000 | 6,960,000 | 5,210,000 | 3,686,000 |
Tangible Book Value | -4,812,000 | -4,660,000 | -4,799,000 | -2,950,000 |
Total Debt | 5,787,000 | 4,533,000 | 3,682,000 | 2,288,000 |
Net Debt | 2,275,000 | 2,186,000 | 2,050,000 | 1,163,000 |
Share Issued | 21,191.53 | 21,191.53 | 21,191.53 | 21,191.53 |
Ordinary Shares Number | 21,191.53 | 21,191.53 | 21,191.53 | 21,191.53 |
| All numbers in thousands (USD) | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 |
|---|---|---|---|---|---|
•Total Assets | 16,969,000 | 16,171,000 | 15,326,000 | 14,728,000 | 13,896,000 |
•Current Assets | 5,956,000 | 5,803,000 | 5,786,000 | 5,079,000 | 4,942,000 |
•Cash, Cash Equivalents & Short Term Investments | 3,013,000 | 3,141,000 | 2,804,000 | 2,577,000 | 2,488,000 |
•Cash And Cash Equivalents | 3,010,000 | 3,089,000 | 2,770,000 | 2,575,000 | 2,477,000 |
Cash | -- | -- | 2,770,000 | 2,575,000 | 2,477,000 |
Other Short Term Investments | 3,000 | 52,000 | 34,000 | 2,000 | 11,000 |
•Receivables | 2,429,000 | 2,218,000 | 2,099,000 | 2,046,000 | 2,047,000 |
•Accounts receivable | 1,630,000 | 1,470,000 | 1,286,000 | 1,285,000 | 1,363,000 |
Gross Accounts Receivable | -- | 1,581,000 | -- | -- | -- |
Allowance For Doubtful Accounts Receivable | -- | -111,000 | -- | -- | -- |
Taxes Receivable | 320,000 | 297,000 | 313,000 | 292,000 | 273,000 |
Other Receivables | 479,000 | 451,000 | 500,000 | 469,000 | 411,000 |
•Inventory | 83,000 | 68,000 | 74,000 | 67,000 | 58,000 |
Raw Materials | -- | 15,000 | -- | -- | -- |
Work in Process | -- | 6,000 | -- | -- | -- |
Finished Goods | -- | 47,000 | -- | -- | -- |
Restricted Cash | -- | -- | 299,000 | -- | -- |
Hedging Assets Current | -- | -- | 119,000 | 5,000 | 6,000 |
Other Current Assets | 431,000 | 376,000 | 391,000 | 384,000 | 343,000 |
•Total non-current assets | 11,013,000 | 10,368,000 | 9,540,000 | 9,650,000 | 8,954,000 |
•Net PPE | 629,000 | 624,000 | 619,000 | 612,000 | 568,000 |
•Gross PPE | 629,000 | 1,378,000 | 619,000 | 612,000 | 568,000 |
Properties | -- | 0 | -- | -- | -- |
Buildings And Improvements | -- | 650,000 | -- | -- | -- |
Machinery Furniture Equipment | -- | 650,000 | -- | -- | -- |
Other Properties | 629,000 | 6,000 | 619,000 | 612,000 | 568,000 |
Leases | -- | 72,000 | -- | -- | -- |
Accumulated Depreciation | -- | -754,000 | -- | -- | -- |
•Goodwill And Other Intangible Assets | 8,908,000 | 8,388,000 | 8,044,000 | 7,907,000 | 7,478,000 |
Goodwill | 1,876,000 | 1,781,000 | 1,638,000 | 1,588,000 | 1,494,000 |
Other Intangible Assets | 7,032,000 | 6,607,000 | 6,406,000 | 6,319,000 | 5,984,000 |
•Investments And Advances | 683,000 | 655,000 | 258,000 | 538,000 | 368,000 |
•Long Term Equity Investment | 683,000 | 655,000 | 258,000 | 57,000 | 15,000 |
Investments in Associatesat Cost | 683,000 | 655,000 | 258,000 | -- | -- |
•Investment in Financial Assets | -- | -- | -- | 481,000 | 353,000 |
Available for Sale Securities | -- | -- | -- | 481,000 | 353,000 |
Non Current Accounts Receivable | 15,000 | 19,000 | 19,000 | 16,000 | 15,000 |
•Non Current Deferred Assets | 482,000 | 465,000 | 392,000 | 380,000 | 332,000 |
Non Current Deferred Taxes Assets | 369,000 | 355,000 | 288,000 | 281,000 | 237,000 |
Other Non Current Assets | 296,000 | 217,000 | 208,000 | 197,000 | 193,000 |
•Total Liabilities Net Minority Interest | 12,360,000 | 11,903,000 | 11,223,000 | 10,746,000 | 10,255,000 |
•Current Liabilities | 6,532,000 | 6,074,000 | 5,695,000 | 5,223,000 | 5,254,000 |
•Payables And Accrued Expenses | 2,235,000 | 2,336,000 | 2,100,000 | 1,831,000 | 1,816,000 |
•Payables | 2,235,000 | 2,336,000 | 2,100,000 | 1,831,000 | 1,816,000 |
Accounts Payable | 1,759,000 | 1,941,000 | 1,714,000 | 1,515,000 | 1,449,000 |
•Total Tax Payable | 217,000 | 150,000 | 142,000 | 112,000 | 130,000 |
Income Tax Payable | 217,000 | 150,000 | 142,000 | 112,000 | 130,000 |
Dividends Payable | 21,000 | 21,000 | 21,000 | 21,000 | 21,000 |
Other Payable | 238,000 | 224,000 | 223,000 | 183,000 | 216,000 |
Current Provisions | 17,000 | 17,000 | 13,000 | 23,000 | 23,000 |
•Current Debt And Capital Lease Obligation | 1,389,000 | 1,507,000 | 1,279,000 | 955,000 | 903,000 |
•Current Debt | 1,240,000 | 1,366,000 | 1,143,000 | 825,000 | 784,000 |
Current Notes Payable | -- | -- | -- | -- | 0 |
Line of Credit | -- | -- | 0 | 250,000 | 268,000 |
Other Current Borrowings | 1,240,000 | 1,366,000 | 1,143,000 | 575,000 | 516,000 |
Current Capital Lease Obligation | 149,000 | 141,000 | 136,000 | 130,000 | 119,000 |
•Current Deferred Liabilities | 2,891,000 | 2,214,000 | 2,304,000 | 2,415,000 | 2,511,000 |
Current Deferred Revenue | 2,891,000 | 2,214,000 | 2,304,000 | 2,415,000 | 2,511,000 |
Other Current Liabilities | -- | -- | -1,000 | -1,000 | 1,000 |
•Total Non Current Liabilities Net Minority Interest | 5,828,000 | 5,829,000 | 5,528,000 | 5,523,000 | 5,001,000 |
•Long Term Debt And Capital Lease Obligation | 4,173,000 | 4,280,000 | 4,162,000 | 4,204,000 | 3,819,000 |
Long Term Debt | 3,884,000 | 3,998,000 | 3,871,000 | 3,913,000 | 3,553,000 |
Long Term Capital Lease Obligation | 289,000 | 282,000 | 291,000 | 291,000 | 266,000 |
•Non Current Deferred Liabilities | 1,058,000 | 1,009,000 | 899,000 | 899,000 | 803,000 |
Non Current Deferred Taxes Liabilities | 935,000 | 890,000 | 785,000 | 787,000 | 692,000 |
Non Current Deferred Revenue | 123,000 | 119,000 | 114,000 | 112,000 | 111,000 |
Tradeand Other Payables Non Current | 234,000 | 208,000 | 193,000 | 165,000 | 145,000 |
Other Non Current Liabilities | 363,000 | 332,000 | 274,000 | 255,000 | 234,000 |
•Total Equity Gross Minority Interest | 4,609,000 | 4,268,000 | 4,103,000 | 3,982,000 | 3,641,000 |
•Stockholders' Equity | 3,884,000 | 3,576,000 | 3,469,000 | 3,296,000 | 3,046,000 |
•Capital Stock | 99,000 | 99,000 | 99,000 | 99,000 | 99,000 |
Common Stock | 99,000 | 99,000 | 99,000 | 99,000 | 99,000 |
Retained Earnings | 3,687,000 | 3,347,000 | 3,258,000 | 3,068,000 | 3,010,000 |
•Gains Losses Not Affecting Retained Earnings | 98,000 | 130,000 | 112,000 | 129,000 | -63,000 |
Other Equity Adjustments | 98,000 | 130,000 | 112,000 | 129,000 | -63,000 |
Minority Interest | 725,000 | 692,000 | 634,000 | 686,000 | 595,000 |
Total Capitalization | 7,768,000 | 7,574,000 | 7,340,000 | 7,209,000 | 6,599,000 |
Common Stock Equity | 3,884,000 | 3,576,000 | 3,469,000 | 3,296,000 | 3,046,000 |
Capital Lease Obligations | 438,000 | 423,000 | 427,000 | 421,000 | 385,000 |
Net Tangible Assets | -5,024,000 | -4,812,000 | -4,575,000 | -4,611,000 | -4,432,000 |
Working Capital | -576,000 | -271,000 | 91,000 | -144,000 | -312,000 |
Invested Capital | 9,008,000 | 8,940,000 | 8,483,000 | 8,034,000 | 7,383,000 |
Tangible Book Value | -5,024,000 | -4,812,000 | -4,575,000 | -4,611,000 | -4,432,000 |
Total Debt | 5,562,000 | 5,787,000 | 5,441,000 | 5,159,000 | 4,722,000 |
Net Debt | 2,114,000 | 2,275,000 | 2,244,000 | 2,163,000 | 1,860,000 |
Share Issued | 21,191.53 | 21,191.53 | 21,191.53 | 21,191.53 | 21,191.53 |
Ordinary Shares Number | 21,191.53 | 21,191.53 | 21,191.53 | 21,191.53 | 21,191.53 |
| 2,805,000 |
| 2,733,000 |
| 2,197,000 |
| 1,779,000 |
| 1,298,000 |
Net Income from Continuing Operations | 812,000 | 586,000 | 767,000 | 62,000 | 551,000 |
•Operating Gains Losses | 272,000 | 348,000 | -26,000 | 38,000 | -56,000 |
Net Foreign Currency Exchange Gain Loss | 77,000 | 154,000 | -26,000 | 43,000 | -56,000 |
Gain Loss On Investment Securities | -56,000 | -67,000 | -- | -- | -- |
Earnings Losses from Equity Investments | 251,000 | 261,000 | 0 | -5,000 | 0 |
•Depreciation Amortization Depletion | 1,446,000 | 1,383,000 | 1,226,000 | 1,021,000 | 819,000 |
•Depreciation & amortization | 1,446,000 | 1,383,000 | 1,226,000 | 1,021,000 | 819,000 |
Depreciation | 210,000 | 201,000 | 182,000 | 162,000 | 143,000 |
•Amortization | 1,236,000 | 1,182,000 | 1,044,000 | 859,000 | 676,000 |
Amortization of Intangibles | 1,236,000 | 1,182,000 | 1,044,000 | 859,000 | 676,000 |
•Deferred Tax | 357,000 | 353,000 | 244,000 | 204,000 | 175,000 |
Deferred Income Tax | 357,000 | 353,000 | 244,000 | 204,000 | 175,000 |
Asset Impairment Charge | 48,000 | 43,000 | 28,000 | 26,000 | 7,000 |
Unrealized Gain Loss On Investment Securities | 12,000 | -13,000 | 0 | -2,000 | 16,000 |
Other non-cash items | 461,000 | 594,000 | 462,000 | 860,000 | 189,000 |
•Change in working capital | -50,000 | -6,000 | -45,000 | -36,000 | -61,000 |
•Change in Receivables | -42,000 | 32,000 | -67,000 | -114,000 | -107,000 |
Changes in Account Receivables | -25,000 | 56,000 | -67,000 | -62,000 | -84,000 |
Change in Inventory | 9,000 | 8,000 | 6,000 | 4,000 | -9,000 |
Change in Payables And Accrued Expense | 10,000 | 80,000 | 109,000 | 151,000 | 73,000 |
Change in Other Current Assets | -96,000 | -72,000 | -106,000 | -68,000 | -78,000 |
Change in Other Current Liabilities | -37,000 | -23,000 | -64,000 | -80,000 | -5,000 |
Change in Other Working Capital | 106,000 | -31,000 | 77,000 | 71,000 | 65,000 |
Taxes Refund Paid | -556,000 | -556,000 | -460,000 | -394,000 | -343,000 |
•Investing Cash Flow | -2,336,000 | -1,881,000 | -1,567,000 | -1,639,000 | -1,694,000 |
•Cash Flow from Continuing Investing Activities | -2,337,000 | -1,881,000 | -1,568,000 | -1,639,000 | -1,693,000 |
•Net PPE Purchase And Sale | -72,000 | -68,000 | -67,000 | -42,000 | -41,000 |
Purchase of PPE | -72,000 | -68,000 | -67,000 | -42,000 | -41,000 |
•Net Business Purchase And Sale | -1,930,000 | -1,340,000 | -1,519,000 | -1,695,000 | -1,566,000 |
Purchase of Business | -2,169,000 | -1,513,000 | -1,683,000 | -1,847,000 | -1,782,000 |
Sale of Business | 239,000 | 173,000 | 164,000 | 152,000 | 216,000 |
•Net Investment Purchase And Sale | -387,000 | -530,000 | -1,000 | 96,000 | -91,000 |
Purchase of Investment | -437,000 | -580,000 | -8,000 | -23,000 | -97,000 |
Sale of Investment | -- | 50,000 | 7,000 | 119,000 | 6,000 |
Interest Received CFI | 57,000 | 56,000 | 33,000 | 4,000 | 5,000 |
Net Other Investing Changes | -4,000 | 1,000 | -13,000 | -2,000 | -1,000 |
•Financing Cash Flow | 11,000 | 156,000 | 114,000 | 316,000 | 483,000 |
•Cash Flow from Continuing Financing Activities | 9,000 | 154,000 | 116,000 | 318,000 | 483,000 |
•Net Issuance Payments of Debt | 289,000 | 439,000 | 609,000 | 548,000 | 693,000 |
•Net Long Term Debt Issuance | 159,000 | 309,000 | 1,114,000 | 265,000 | 602,000 |
Long Term Debt Issuance | 872,000 | 686,000 | 1,381,000 | 656,000 | 798,000 |
Long Term Debt Payments | -713,000 | -377,000 | -267,000 | -391,000 | -196,000 |
Net Short Term Debt Issuance | -- | 130,000 | -505,000 | 283,000 | 91,000 |
•Cash Dividends Paid | -85,000 | -85,000 | -149,000 | -85,000 | -115,000 |
Common Stock Dividend Paid | -85,000 | -85,000 | -149,000 | -85,000 | -108,000 |
Preferred Stock Dividend Paid | -- | -- | -- | 0 | -7,000 |
Interest Paid CFF | -211,000 | -212,000 | -192,000 | -144,000 | -85,000 |
Net Other Financing Charges | 18,000 | 14,000 | -154,000 | -3,000 | -10,000 |
•End Cash Position | 2,954,000 | 3,089,000 | 1,980,000 | 1,284,000 | 811,000 |
Changes in Cash | 477,000 | 1,007,000 | 744,000 | 456,000 | 87,000 |
Effect of Exchange Rate Changes | 56,000 | 102,000 | -48,000 | 17,000 | -39,000 |
Beginning Cash Position | 2,477,000 | 1,980,000 | 1,284,000 | 811,000 | 763,000 |
Capital Expenditure | -72,000 | -68,000 | -67,000 | -42,000 | -41,000 |
Issuance of Debt | 872,000 | 686,000 | 1,381,000 | 656,000 | 798,000 |
Repayment of Debt | -713,000 | -377,000 | -267,000 | -391,000 | -196,000 |
Free Cash Flow | 2,730,000 | 2,664,000 | 2,129,000 | 1,737,000 | 1,256,000 |
| All numbers in thousands (USD) | TTM | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 |
|---|---|---|---|---|---|---|
•Operating Cash Flow | 2,802,000 | 897,000 | 788,000 | 685,000 | 433,000 | 827,000 |
•Cash Flow from Continuing Operating Activities | 2,805,000 | 898,000 | 789,000 | 686,000 | 435,000 | 826,000 |
Net Income from Continuing Operations | 812,000 | 400,000 | 166,000 | 162,000 | 85,000 | 174,000 |
•Operating Gains Losses | 272,000 | -49,000 | 32,000 | 172,000 | 119,000 | 27,000 |
Net Foreign Currency Exchange Gain Loss | 77,000 | -45,000 | 22,000 | -17,000 | 118,000 | 32,000 |
Gain Loss On Investment Securities | -56,000 | 6,000 | 9,000 | -71,000 | 1,000 | -5,000 |
Earnings Losses from Equity Investments | 251,000 | -10,000 | 1,000 | 260,000 | 0 | 0 |
•Depreciation Amortization Depletion | 1,446,000 | 381,000 | 370,000 | 359,000 | 336,000 | 318,000 |
•Depreciation & amortization | 1,446,000 | 381,000 | 370,000 | 359,000 | 336,000 | 318,000 |
Depreciation | 210,000 | 55,000 | 53,000 | 52,000 | 50,000 | 46,000 |
•Amortization | 1,236,000 | 326,000 | 317,000 | 307,000 | 286,000 | 272,000 |
Amortization of Intangibles | 1,236,000 | 326,000 | 317,000 | 307,000 | 286,000 | 272,000 |
•Deferred Tax | 357,000 | 93,000 | 92,000 | 77,000 | 95,000 | 89,000 |
Deferred Income Tax | 357,000 | 93,000 | 92,000 | 77,000 | 95,000 | 89,000 |
Asset Impairment Charge | 48,000 | 8,000 | 20,000 | 12,000 | 9,000 | 3,000 |
Unrealized Gain Loss On Investment Securities | 12,000 | -7,000 | 20,000 | 3,000 | -4,000 | -32,000 |
Other non-cash items | 461,000 | -7,000 | 218,000 | 78,000 | 170,000 | 126,000 |
•Change in working capital | -50,000 | 185,000 | -4,000 | -47,000 | -185,000 | 229,000 |
•Change in Receivables | -42,000 | -135,000 | -67,000 | 17,000 | 143,000 | -61,000 |
Changes in Account Receivables | -25,000 | -115,000 | -127,000 | 41,000 | 175,000 | -34,000 |
Change in Inventory | 9,000 | 1,000 | 9,000 | -2,000 | 1,000 | 0 |
Change in Payables And Accrued Expense | 10,000 | -242,000 | 170,000 | 133,000 | -51,000 | -172,000 |
Change in Other Current Assets | -96,000 | -73,000 | 10,000 | -26,000 | -8,000 | -49,000 |
Change in Other Current Liabilities | -37,000 | 9,000 | 5,000 | -9,000 | -42,000 | 23,000 |
Change in Other Working Capital | 106,000 | 625,000 | -131,000 | -160,000 | -228,000 | 488,000 |
Taxes Refund Paid | -556,000 | -107,000 | -126,000 | -131,000 | -192,000 | -107,000 |
•Investing Cash Flow | -2,336,000 | -726,000 | -530,000 | -634,000 | -446,000 | -271,000 |
•Cash Flow from Continuing Investing Activities | -2,337,000 | -727,000 | -530,000 | -635,000 | -447,000 | -271,000 |
•Net PPE Purchase And Sale | -72,000 | -19,000 | -21,000 | -16,000 | -16,000 | -15,000 |
Purchase of PPE | -72,000 | -19,000 | -21,000 | -16,000 | -16,000 | -15,000 |
•Net Business Purchase And Sale | -1,930,000 | -689,000 | -485,000 | -307,000 | -449,000 | -99,000 |
Purchase of Business | -2,169,000 | -766,000 | -558,000 | -351,000 | -494,000 | -110,000 |
Sale of Business | 239,000 | 77,000 | 73,000 | 44,000 | 45,000 | 11,000 |
•Net Investment Purchase And Sale | -387,000 | -32,000 | -321,000 | -36,000 | 1,000 | -175,000 |
Purchase of Investment | -437,000 | -32,000 | -355,000 | -36,000 | -14,000 | -175,000 |
Sale of Investment | -- | -- | 34,000 | 0 | 15,000 | 0 |
Interest Received CFI | 57,000 | 12,000 | 12,000 | 13,000 | 20,000 | 11,000 |
Net Other Investing Changes | -4,000 | 2,000 | 285,000 | -288,000 | -2,000 | 7,000 |
•Financing Cash Flow | 11,000 | -236,000 | 56,000 | 147,000 | 43,000 | -91,000 |
•Cash Flow from Continuing Financing Activities | 9,000 | -236,000 | 54,000 | 147,000 | 44,000 | -91,000 |
•Net Issuance Payments of Debt | 289,000 | -153,000 | 101,000 | 236,000 | 104,000 | -3,000 |
•Net Long Term Debt Issuance | 159,000 | -153,000 | -29,000 | 236,000 | 104,000 | -3,000 |
Long Term Debt Issuance | 872,000 | 244,000 | 44,000 | 378,000 | 341,000 | 58,000 |
Long Term Debt Payments | -713,000 | -397,000 | -73,000 | -142,000 | -237,000 | -61,000 |
Net Short Term Debt Issuance | -- | -- | 130,000 | 0 | 0 | 0 |
•Cash Dividends Paid | -85,000 | -21,000 | -21,000 | -21,000 | -21,000 | -21,000 |
Common Stock Dividend Paid | -85,000 | -21,000 | -21,000 | -21,000 | -21,000 | -21,000 |
Interest Paid CFF | -211,000 | -65,000 | -47,000 | -63,000 | -36,000 | -66,000 |
Net Other Financing Charges | 18,000 | 3,000 | 23,000 | -5,000 | -4,000 | -1,000 |
•End Cash Position | 2,954,000 | 3,010,000 | 3,089,000 | 2,770,000 | 2,575,000 | 2,477,000 |
Changes in Cash | 477,000 | -66,000 | 314,000 | 198,000 | 30,000 | 464,000 |
Effect of Exchange Rate Changes | 56,000 | -13,000 | 5,000 | -3,000 | 68,000 | 33,000 |
Beginning Cash Position | 2,477,000 | 3,089,000 | 2,770,000 | 2,575,000 | 2,477,000 | 1,980,000 |
Capital Expenditure | -72,000 | -19,000 | -21,000 | -16,000 | -16,000 | -15,000 |
Issuance of Debt | 872,000 | 244,000 | 44,000 | 378,000 | 341,000 | 58,000 |
Repayment of Debt | -713,000 | -397,000 | -73,000 | -142,000 | -237,000 | -61,000 |
Free Cash Flow | 2,730,000 | 878,000 | 767,000 | 669,000 | 417,000 | 812,000 |
| GROWTH FUND OF AMERICA |
| Mar 2026 |
| 1.35% |
| 649,238,550 | 242,706 | mutual_fund | AMERICAN FUNDS FUNDAMENTAL INVESTORS | Mar 2026 | 1.15% |
| 622,368,175 | 232,661 | mutual_fund | JANUS INVESTMENT FUND-Janus Henderson Enterprise Fund | Mar 2026 | 1.10% |
| 591,279,325 | 221,039 | mutual_fund | Principal Funds, Inc-MidCap Fund | Jan 2026 | 1.04% |
| 499,794,325 | 186,839 | mutual_fund | VANGUARD TAX-MANAGED FUNDS-Vanguard Developed Markets Index Fund | Dec 2025 | 0.88% |
| 382,538,375 | 143,005 | mutual_fund | Fidelity Investment Trust-Fidelity Series Canada Fund | Mar 2026 | 0.67% |
| 369,874,925 | 138,271 | mutual_fund | AMERICAN FUNDS INSURANCE SERIES-Growth Fund | Mar 2026 | 0.65% |
| 242,542,250 | 90,670 | mutual_fund | Fidelity Concord Street Trust-Fidelity SAI Canada Equity Index Fund | Mar 2026 | 0.43% |
| 20,776,725 | 7,767 | institutional | Mn Services Vermogensbeheer B.V. | Mar 2026 | 0.04% |
| 6,088,300 | 2,276 | institutional | Appleton Partners, Inc./MA | Mar 2026 | 0.01% |
| 2,576,025 | 963 | institutional | O'Brien Greene & Co. Inc | Mar 2026 | 0.00% |
| 1,532,775 | 573 | institutional | Df Dent & Co Inc | Mar 2026 | 0.00% |
| 1,292,025 | 483 | institutional | McIlrath & Eck, LLC | Mar 2026 | 0.00% |
| 880,075 | 329 | institutional | Ancora Advisors, LLC | Mar 2026 | 0.00% |
| 762,375 | 285 | institutional | Lountzis Asset Management, LLC | Mar 2026 | 0.00% |
| 564,425 | 211 | institutional | Pacer Advisors, Inc. | Mar 2026 | 0.00% |
| 61,525 | 23 | institutional | Gamma Investing LLC | Mar 2026 | 0.00% |
| 32,100 | 12 | institutional | Kelleher Financial Advisors | Mar 2026 | 0.00% |