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1. Company Snapshot

1.a. 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 customers.


It serves accountancy, agriculture, associations, automotive, central government, education, facility management, finance, healthcare, hospitality, legal, local government, manufacturing, mobility, real estate, and retail vertical markets.The company was incorporated in 2020 and is headquartered in Toronto, Canada.

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1.b. Last Insights on TOI

Topicus.com Inc.'s recent performance was negatively impacted by concerns over its valuation and future growth trajectory. The company's market capitalization dropped CA$580m last week, with public companies bearing the brunt of the decline. RBC Capital Markets' preview of Q3 earnings for Canadian technology coverage suggests a bifurcated outlook, potentially affecting investor sentiment. Additionally, the company's acquisition of 14.84% of treasury shares in Asseco Poland S.A. may not have provided immediate value, and questions surrounding its intrinsic value, estimated to be CA$183, may have contributed to the negative performance.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (10.16%)

6. Segments

Maintenance and Other Recurring

Expected Growth: 10.27%

Topicus.com Inc.'s 10.27% growth in Maintenance and Other Recurring is driven by increasing adoption of cloud-based solutions, expansion of existing customer relationships, and strategic acquisitions. Additionally, the company's focus on digital transformation and IT modernization initiatives has led to a rise in demand for recurring services, contributing to the segment's growth.

Professional Services

Expected Growth: 9.9%

Topicus.com Inc.'s 9.9% growth in Professional Services is driven by increasing demand for digital transformation, cloud adoption, and cybersecurity solutions. Strong partnerships with leading software vendors, expansion into new markets, and a skilled workforce have enabled the company to capitalize on these trends, resulting in sustained revenue growth.

License

Expected Growth: 10.27%

The 10.27% growth of License from Topicus.com Inc. is driven by increasing adoption of cloud-based solutions, expansion into new markets, and strategic partnerships. Additionally, the company's focus on innovation, customer satisfaction, and competitive pricing strategy have contributed to its rapid growth.

Hardware and Other

Expected Growth: 9.42%

Topicus.com Inc.'s Hardware and Other segment growth of 9.42% is driven by increasing demand for digital transformation, cloud adoption, and cybersecurity solutions. Additionally, the company's strategic partnerships and acquisitions have expanded its product offerings, contributing to revenue growth.

7. Detailed Products

ERP Systems

Topicus.com Inc. offers a comprehensive Enterprise Resource Planning (ERP) system that integrates all aspects of business operations, including financials, human resources, supply chain management, and customer relationships.

Customer Relationship Management (CRM) Software

Topicus.com's CRM software helps businesses manage customer interactions, track leads, and analyze customer behavior, enabling data-driven sales and marketing strategies.

Human Capital Management (HCM) Solutions

Topicus.com's HCM solutions provide a comprehensive platform for managing human resources, including recruitment, payroll, benefits, and performance management.

Financial Management Systems

Topicus.com's financial management systems provide a comprehensive platform for managing financial operations, including accounting, budgeting, and forecasting.

Supply Chain Management (SCM) Solutions

Topicus.com's SCM solutions provide a comprehensive platform for managing supply chain operations, including procurement, inventory management, and logistics.

8. Topicus.com Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Topicus.com Inc. operates in a niche market, providing software solutions for the education sector. While there are some substitutes available, they are not as comprehensive as Topicus' offerings, reducing the threat of substitutes.

Bargaining Power Of Customers

Topicus.com Inc.'s customers are primarily educational institutions, which have limited bargaining power due to their reliance on the company's specialized software solutions.

Bargaining Power Of Suppliers

Topicus.com Inc. relies on a few key suppliers for its software development and infrastructure needs. While these suppliers have some bargaining power, Topicus' strong relationships and diversified supply chain mitigate this risk.

Threat Of New Entrants

The education software market is attractive, and new entrants may be drawn to it. However, Topicus.com Inc.'s established brand, strong customer relationships, and high barriers to entry reduce the threat of new entrants.

Intensity Of Rivalry

The education software market is moderately competitive, with a few established players. Topicus.com Inc. differentiates itself through its specialized solutions and strong customer relationships, reducing the intensity of rivalry.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 45.90%
Debt Cost 7.25%
Equity Weight 54.10%
Equity Cost 7.27%
WACC 7.26%
Leverage 84.86%

11. Quality Control: Topicus.com Inc. passed 5 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Dropbox

A-Score: 6.1/10

Value: 5.9

Growth: 7.9

Quality: 7.4

Yield: 0.0

Momentum: 7.5

Volatility: 7.7

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Topicus

A-Score: 5.0/10

Value: 1.8

Growth: 8.0

Quality: 6.5

Yield: 0.0

Momentum: 7.5

Volatility: 6.3

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Value: 2.1

Growth: 9.1

Quality: 6.7

Yield: 0.0

Momentum: 7.5

Volatility: 4.3

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WEX

A-Score: 4.6/10

Value: 5.7

Growth: 6.9

Quality: 6.8

Yield: 0.0

Momentum: 2.0

Volatility: 6.0

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A-Score: 3.9/10

Value: 4.5

Growth: 5.3

Quality: 5.6

Yield: 0.0

Momentum: 5.0

Volatility: 2.7

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A-Score: 3.8/10

Value: 4.7

Growth: 6.9

Quality: 4.0

Yield: 0.0

Momentum: 4.0

Volatility: 3.0

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

125.98$

Current Price

125.98$

Potential

-0.00%

Expected Cash-Flows