Enghouse Systems Limited (ENGH $17.95)
- $17.95 P/E (TTM): 13.43X Cap: $982M
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Review of Enghouse Systems

NOV 20, 2025 - A growth acquisition could be a good catalyst, but ENGH’s particular niche in the tech sector has been less robust than the broader tech sector. We think a takeover/privatization may be possible as we feel management could be just as frustrated as public shareholders. Overall, this name has been fairly disappointing amid a tech boom in recent years, and as a result of its lagging performance and execution, we are dropping coverage on the name.

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Enghouse Systems Limited (ENGH $17.95)
- $17.95 P/E (TTM): 13.43X Cap: $982M
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Open Text Corporation (OTEX $34.26)
- $34.26 P/E (TTM): 11.75X Cap: $8.63B
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Q: On Jan 19, in a question by David, you stated that both DSG and OTEX did not have a dividend. Globe & Mail has that OTEX does have a dividend. Please advise if you need to correct your response. G&M advised "OpenText Corp. OTEX-T has named former IBM executive Ayman Antoun as chief executive, effective April 20. 2026" Is this a good move by OTEX? Does it change your impression of potential of OTEX?

Read Answer Asked by David on February 02, 2026

Toronto-Dominion Bank (The) (TD $131.99)
- $131.99 P/E (TTM): 11.13X Cap: $225.33B
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Bank of Nova Scotia (The) (BNS $104.30)
- $104.30 P/E (TTM): 25.36X Cap: $129.49B
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Enbridge Inc. (ENB $68.74)
- $68.74 P/E (TTM): 26.44X Cap: $149.94B
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Canadian Natural Resources Limited (CNQ $53.40)
- $53.40 P/E (TTM): 16.37X Cap: $111.23B
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Sun Life Financial Inc. (SLF $88.99)
- $88.99 P/E (TTM): 22.2X Cap: $49.60B
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Fortis Inc. (FTS $73.74)
- $73.74 P/E (TTM): 21.56X Cap: $37.26B
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Enghouse Systems Limited (ENGH $17.95)
- $17.95 P/E (TTM): 13.43X Cap: $982M
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TMX Group Limited (X $45.42)
- $45.42 P/E (TTM): 27.97X Cap: $12.63B
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Open Text Corporation (OTEX $34.26)
- $34.26 P/E (TTM): 11.75X Cap: $8.63B
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Hydro One Limited (H $54.48)
- $54.48 P/E (TTM): 25.61X Cap: $32.67B
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Q: Can you please provide your analysis of whether AI software developments will negatively impact the businesses of OTEX and ENGH? Both companies seem solid, reasonably well-managed, and pay nice dividends to compensate for their low growth. Should I be concerned that their revenues will decline over time such that my retirement income will be in jeopardy? Should I move on to a more stable dividend payer, for example FTS, that is less likely to be hurt by AI?

Read Answer Asked by David on January 19, 2026

Dollarama Inc. (DOL $192.27)
- $192.27 P/E (TTM): 41.06X Cap: $52.94B
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Intact Financial Corporation (IFC $260.82)
- $260.82 P/E (TTM): 22.08X Cap: $46.37B
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Celestica Inc. (CLS $419.62)
- $419.62 P/E (TTM): 47.78X Cap: $48.27B
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Descartes Systems Group Inc. (The) (DSG $91.25)
- $91.25 P/E (TTM): 39.54X Cap: $7.84B
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Enghouse Systems Limited (ENGH $17.95)
- $17.95 P/E (TTM): 13.43X Cap: $982M
- View ENGH Profile
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Toromont Industries Ltd. (TIH $184.71)
- $184.71 P/E (TTM): 29.95X Cap: $15.03B
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TFI International Inc. (TFII $166.50)
- $166.50 P/E (TTM): 30.87X Cap: $13.70B
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Open Text Corporation (OTEX $34.26)
- $34.26 P/E (TTM): 11.75X Cap: $8.63B
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Alimentation Couche-Tard Inc. (ATD $78.74)
- $78.74 P/E (TTM): 20.4X Cap: $72.27B
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Brookfield Corporation Class A Limited Voting Shares (BN $61.71)
- $61.71 P/E (TTM): 87.21X Cap: $138.55B
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Brookfield Asset Management Ltd. Class A Limited Voting Shares (BAM $67.75)
- $67.75 P/E (TTM): 30.31X Cap: $109.12B
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Q: I am not particularly proud to acknowledge that I own the above- but I do. ENGH and OTEX are in accounts that are structured for income and some growth, while DSG is in an account that is looking for primarily growth. Canadian traded is key for all. Looking for your input on these companies and whether there are better options that I am missing.
No hurry to reply; deduct credits as necessary.
Seconding the comment today regarding your recent report. Well done and I hope that now you have it you continue to update it as companies come and go. It is a great resource.

Read Answer Asked by Robert on January 19, 2026