Topicus.com (TSE:TOI)
:TOI
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Topicus.com
(TOI)
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Rating:59Neutral
Price Target:
C$109.00
▲(17.42% Upside)
Action:ReiteratedDate:02/28/26
The score is primarily supported by strong cash flow generation and scaling revenue with a stable recurring-revenue foundation, but is held back by 2025 margin compression and sharply higher leverage. Technically, the stock is in a clear downtrend versus key moving averages, and the very high P/E further pressures the risk/reward.
Positive Factors
Strong cash flow generation
Consistently high operating and free cash flow (OCF ~C$389M; FCF ~C$378M in 2025) provides durable internal funding for acquisitions, product investment, and debt service. FCF tracking ~0.96–0.98x of net income signals earnings quality and sustained cash conversion ability over the medium term.
Negative Factors
Sharp margin compression in 2025
A marked decline in gross and net margins in 2025 erodes the company's ability to convert revenue into sustainable profits. If structural (integration costs, pricing pressure, or product mix shifts), weaker margins reduce FCF generation and limit capacity to fund acquisitions or deleverage over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash flow generation
Consistently high operating and free cash flow (OCF ~C$389M; FCF ~C$378M in 2025) provides durable internal funding for acquisitions, product investment, and debt service. FCF tracking ~0.96–0.98x of net income signals earnings quality and sustained cash conversion ability over the medium term.
Read all positive factors
Topicus.com (TOI) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$7.74B
Dividend YieldN/A
Average Volume (3M)87.63K
Price to Earnings (P/E)160.7
Beta (1Y)0.66
Revenue Growth25.22%
EPS Growth-97.97%
CountryCA
Employees4,250
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)0.95
Shares Outstanding83,338,850
10 Day Avg. Volume52,555
30 Day Avg. Volume87,630
Financial Highlights & Ratios
PEG Ratio-2.88
Price to Book (P/B)13.87
Price to Sales (P/S)4.32
P/FCF Ratio17.35
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$143.34Price Target Upside54.41% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)2.37
Revenue Forecast (FY)C$1.81B
Topicus.com Business Overview & Revenue Model
Company Description
Topicus.com Inc. provides vertical market software and vertical market platforms in Europe. The company acquires, builds, and manages various vertical market software businesses, which offer software solutions that address the particular needs of ...
How the Company Makes Money
Topicus primarily makes money by selling and supporting vertical market software used by organizations within specific industry niches. Its revenue model is typically anchored by (1) recurring software revenue, such as maintenance and support cont...
Topicus.com Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
58
Neutral
Cash Flow
83
Very Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.52B | 1.29B | 1.12B | 916.68M | 742.54M |
| Gross Profit | 347.75M | 471.35M | 399.63M | 325.55M | 269.36M |
| EBITDA | 428.18M | 376.30M | 313.11M | 251.99M | -2.08B |
| Net Income | 40.84M | 91.99M | 71.75M | 87.61M | -2.22B |
Balance Sheet | |||||
| Total Assets | 2.51B | 1.54B | 1.44B | 1.29B | 1.03B |
| Cash, Cash Equivalents and Short-Term Investments | 326.13M | 206.16M | 179.06M | 136.77M | 75.33M |
| Total Debt | 856.86M | 351.83M | 287.83M | 328.88M | 226.91M |
| Total Liabilities | 1.73B | 1.00B | 842.67M | 827.01M | 672.69M |
| Stockholders Equity | 473.01M | 311.28M | 339.18M | 266.10M | -705.60M |
Cash Flow | |||||
| Free Cash Flow | 378.15M | 339.34M | 238.78M | 195.71M | 171.04M |
| Operating Cash Flow | 388.56M | 347.63M | 246.56M | 203.01M | 176.42M |
| Investing Cash Flow | -664.51M | -110.22M | -127.20M | -133.41M | -213.43M |
| Financing Cash Flow | 396.95M | -211.60M | -77.98M | -8.15M | 56.69M |
Topicus.com Technical Analysis
Negative
92.83
Price Trends
96.06
Negative
109.96
Negative
136.52
Negative
Market Momentum
-1.40
Positive
43.34
Neutral
47.90
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:TOI, the sentiment is Negative. The current price of 92.83 is below the 20-day moving average (MA) of 96.20, below the 50-day MA of 96.06, and below the 200-day MA of 136.52, indicating a bearish trend. The MACD of -1.40 indicates Positive momentum. The RSI at 43.34 is Neutral, neither overbought nor oversold. The STOCH value of 47.90 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:TOI.
Topicus.com Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | C$2.89B | 43.05 | 3.01% | ― | -9.05% | ― | |
62 Neutral | C$210.08M | -322.84 | 1.08% | ― | -5.56% | -124.69% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
59 Neutral | C$7.74B | 160.67 | 5.08% | ― | 25.22% | -97.97% | |
53 Neutral | C$394.78M | -16.02 | -28.39% | ― | 12.20% | -8.46% | |
48 Neutral | C$253.34M | -3.21 | -43.96% | 1.80% | 2.47% | 19.37% | |
45 Neutral | C$2.92M | -0.41 | ― | ― | -13.42% | -126.00% |
* Technology Sector Average
TSE:TOI
Topicus.com
92.83
-49.89
-34.96%
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.