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Constellation Software Inc. (CSU $4,549.91)
- $4,549.91 P/E (TTM): 110.08X Cap: $96.41B
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Topicus.com Inc. (TOI $175.88)
- $175.88 P/E (TTM): 79.44X Cap: $14.65B
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Lumine Group Inc. (LMN $48.74)
- $48.74 P/E (TTM): 176.19X Cap: $12.50B
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Q: How exposed are csu, Toi and lmn to Tarriffs? Or is it to their advantage and they will pick companies at good discounts? Thanks.

Shyam

Asked by Shyam on March 26, 2025

5i Research Answer:

We would not expect a lot of direct impact to software companies. Tariffs are focused on shipped products. TOI has lots of business in Europe, and the other two have decent business diversification. If valuations decline with the market, it should help all three make more-attractive acquisitions.

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