Investment Q&A

• Novo Nordisk A/S (NVO $36.98)
  • $36.98 P/E (TTM): 10.4X Cap: $363.68B
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• Vanguard FTSE Developed Markets ETF (VEA $64.64)
  • $64.64 P/E (TTM): 18.15X Cap: $231.57B
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• ASML Holding N.V. (ASML $1,317.23)
  • $1,317.23 P/E (TTM): 59.31X Cap: $507.68B
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• iShares MSCI Intl Quality Factor ETF (IQLT $46.62)
  • $46.62 P/E (TTM): 30.44X Cap: $12.06B
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Q: I've owned IQLT for a few years now. I've noticed that the VEA top holdings are quite similar to IQLT, but at a significantly reduced MER. Is it really worth paying that much more to continue to hold IQLT? Maybe you have better insight on the differences between the two than I do (?)

Upvote 2

Read Answer Asked by James on January 03, 2025

• CGI Inc. Class A Subordinate Voting Shares (GIB.A $103.00)
  • $103.00 P/E (TTM): 13.81X Cap: $22.12B
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• Restaurant Brands International Inc. (QSR $106.71)
  • $106.71 P/E (TTM): 32.73X Cap: $48.68B
  • View QSR Profile
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• Domino's Pizza Inc (DPZ $370.82)
  • $370.82 P/E (TTM): 21.05X Cap: $12.47B
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• Medpace Holdings Inc. (MEDP $498.34)
  • $498.34 P/E (TTM): 32.57X Cap: $14.23B
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• Topicus.com Inc. (TOI $96.37)
  • $96.37 P/E (TTM): 300.57X Cap: $12.56B
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Q: I'm asking for 5i's opinion on your current (5) best asset-light company ideas - Canadian and / or American - that have:

- financial stability

- strong competitive position today and into the future

- in a sector that is not threatened by disruption

- attractive valuation at today's prices

Hopefully not a lot to ask. Thanks for your service.

Upvote 24

Read Answer Asked by James on January 03, 2025

• Chevron Corporation (CVX $198.97)
  • $198.97 P/E (TTM): 30.01X Cap: $397.02B
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• L Brands Inc. (LB)
  • P/E (TTM): 16.0X Cap: $21.04B
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• Marathon Petroleum Corporation (MPC $241.73)
  • $241.73 P/E (TTM): 18.29X Cap: $71.35B
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• Occidental Petroleum Corporation (OXY $62.97)
  • $62.97 P/E (TTM): 39.11X Cap: $62.44B
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• Texas Pacific Land Corporation (TPL $444.24)
  • $444.24 P/E (TTM): 63.67X Cap: $30.62B
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Q: What are your 3 best picks for near term growth of US oil and gas E&P for both large cap and mid cap stocks ?

Upvote 2

Read Answer Asked by Terry on January 03, 2025

• Paychex Inc. (PAYX $91.70)
  • $91.70 P/E (TTM): 20.15X Cap: $32.85B
  • View PAYX Profile
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• CGI Inc. Class A Subordinate Voting Shares (GIB.A $103.00)
  • $103.00 P/E (TTM): 13.81X Cap: $22.12B
  • View GIB.A Profile
  • View Questions on GIB.A
  • View Reports on GIB.A
• Restaurant Brands International Inc. (QSR $106.71)
  • $106.71 P/E (TTM): 32.73X Cap: $48.68B
  • View QSR Profile
  • View Questions on QSR
• Domino's Pizza Inc (DPZ $370.82)
  • $370.82 P/E (TTM): 21.05X Cap: $12.47B
  • View DPZ Profile
  • View Questions on DPZ
• Medpace Holdings Inc. (MEDP $498.34)
  • $498.34 P/E (TTM): 32.57X Cap: $14.23B
  • View MEDP Profile
  • View Questions on MEDP
• Topicus.com Inc. (TOI $96.37)
  • $96.37 P/E (TTM): 300.57X Cap: $12.56B
  • View TOI Profile
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  • View Reports on TOI

Q: Operating metrics (FCF, ROE, margins, etc.) for PAYX seem quite strong - it seems to be an asset-light business, dividend grower and compounder. However, it's at the same price as 3 years ago and has been underperforming the S&P for the same period. Am I missing something? What are your thoughts for PAYX and is it worthwhile for initiating a position at some level you would suggest?

Upvote 4

Read Answer Asked by Michael on January 03, 2025

• Constellation Software Inc. (CSU $2,441.27)
  • $2,441.27 P/E (TTM): 74.13X Cap: $51.73B
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• Descartes Systems Group Inc. (The) (DSG $99.49)
  • $99.49 P/E (TTM): 43.28X Cap: $8.55B
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• Tamarack Valley Energy Ltd. (TVE $11.19)
  • $11.19 Cap: $5.41B
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• Hammond Power Solutions Inc. Class A Subordinate Voting Shares (HPS.A $182.43)
  • $182.43 P/E (TTM): 30.05X Cap: $2.17B
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• Vitalhub Corp. (VHI $6.97)
  • $6.97 P/E (TTM): 69.7X Cap: $440M
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• WELL Health Technologies Corp. (WELL $3.90)
  • $3.90 Cap: $996M
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• CrowdStrike Holdings Inc. (CRWD $399.12)
  • $399.12 Cap: $101.22B
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• Cellebrite DI Ltd. (CLBT $14.00)
  • $14.00 Cap: $3.49B
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• Propel Holdings Inc. (PRL $18.42)
  • $18.42 P/E (TTM): 9.54X Cap: $724M
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• Lumine Group Inc. (LMN $23.00)
  • $23.00 P/E (TTM): 88.99X Cap: $5.90B
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Q: I have these companies in equal amounts in my TFSA.With an additional $18k to invest,which ones would you add to at this time or would you prefer others. I am 74 and plan to live to be 100,which is my mother’s age! I hope to eventually shoot my age(golf).
Thank your exceptional advice and Happy New Year,

Upvote 38

Read Answer Asked by Allen on January 03, 2025

• Biorem Inc. (BRM $2.44)
  • $2.44 P/E (TTM): 22.18X Cap: $39M
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Q: what do you think about the potential of this company and do you know why the big price drop today?

Upvote 2

Read Answer Asked by Gary on January 03, 2025

• DraftKings Inc. (DKNG $23.16)
  • $23.16 Cap: $11.48B
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• Flutter Entertainment Plc (FLUT $106.38)
  • $106.38 Cap: $18.24B
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Q: Considering to initiate a position into Draftking. Which one do you prefer between it and Flutter and why?

Happy mew year to all the team and others members!

Upvote 3

Read Answer Asked by Francois on January 03, 2025

• NVIDIA Corporation (NVDA $177.39)
  • $177.39 P/E (TTM): 36.2X Cap: $4.31T
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• Booking Holdings Inc. (BKNG $4,194.31)
  • $4,194.31 P/E (TTM): 25.25X Cap: $132.84B
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• Dollarama Inc. (DOL $172.59)
  • $172.59 P/E (TTM): 36.41X Cap: $47.10B
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• Brookfield Renewable Partners L.P. (BEP.UN $46.60)
  • $46.60 Cap: $31.69B
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• Shopify Inc. Class A Subordinate Voting Shares (SHOP $164.58)
  • $164.58 P/E (TTM): 130.1X Cap: $214.63B
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• Constellation Energy Corporation (CEG $272.82)
  • $272.82 P/E (TTM): 36.87X Cap: $85.47B
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Q: Happy New Year to all 5i staff.

What are your top 3 picks in Canada and the US for 2025?

Thank you for all you do!

Upvote 32

Read Answer Asked by Marty on January 03, 2025

• Quisitive Technology Solutions Inc. (QUIS $0.56)
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Q: Another company agrees to a low sellout price .Owners only one gets rich on this sale

Upvote 5

Read Answer Asked by Don on January 03, 2025

• Novo Nordisk A/S (NVO $36.98)
  • $36.98 P/E (TTM): 10.4X Cap: $363.68B
  • View NVO Profile
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Q: Hi Folks

I believe Novo Nordisk is Danish. If I was to buy Novo Nordisk on the US exchange (NONOF:OTC PINKl what kind of withholding tax should I expect on the dividend. And should I hold it in the RRSP to avoid this tax?

Thanks

Stuart

Upvote 4

Read Answer Asked by Stuart on January 03, 2025

• Lumine Group Inc. (LMN $23.00)
  • $23.00 P/E (TTM): 88.99X Cap: $5.90B
  • View LMN Profile
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Q: If the market spooks with the news of the sudden CEO leave of absence would you be a buyer and at what price?
Thks

Upvote 16

Read Answer Asked by Robert on January 03, 2025

• iShares Russell 2000 Growth ETF (IWO $318.36)
  • $318.36 P/E (TTM): 22.36X Cap: $12.36B
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• BMO S&P 500 Index ETF (ZSP $100.26)
  • $100.26 P/E (TTM): 25.8X Cap: $20.67B
  • View ZSP Profile
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• iShares Core Canadian Universe Bond Index ETF (XBB $27.95)
  • $27.95 P/E (TTM): 31.38X Cap: $9.93B
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• iShares Core S&P/TSX Capped Composite Index ETF (XIC $52.81)
  • $52.81 P/E (TTM): 18.19X Cap: $27B
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• Vanguard Dividend Appreciation FTF (VIG $216.02)
  • $216.02 P/E (TTM): 24.38X Cap: $107.61B
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• Vanguard Balanced ETF Portfolio (VBAL $36.98)
  • $36.98 P/E (TTM): 6.89X Cap: $4.89B
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Q: My wife has some money should would like to invest in eft. Which ones would you recommend.

Upvote 7

Read Answer Asked by Mike on January 03, 2025

• Ondas Inc (ONDS $9.60)
  • $9.60 Cap: $4.48B
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Q: Came across this small US company who's subsidiary Airobotics has been awarded a new deal from an undisclosed semiconductor company to leverage their fleet of drones for aerial security purposes.
Could you please give me any information on this info if possible and would you provide any analysis you have on this company?
Thank as always
Gary

Upvote 1

Read Answer Asked by Gary on January 03, 2025

• Intermap Technologies Corporation (IMP $1.74)
  • $1.74 Cap: $124M
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• Medicenna Therapeutics Corp. (MDNA $0.62)
  • $0.62 Cap: $54M
  • View MDNA Profile
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• Perpetua Resources Corp. (PPTA $40.90)
  • $40.90 P/E (TTM): 214.77X Cap: $4.98B
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• Anaergia Inc. (ANRG $2.82)
  • $2.82 Cap: $483M
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Q: Big speculative winners this year. Any merit for continuation in 2025? Thanks...

Upvote 1

Read Answer Asked by Bruce on January 03, 2025

• BCE Inc. (BCE $34.06)
  • $34.06 P/E (TTM): 5.02X Cap: $31.76B
  • View BCE Profile
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Q: While reviewing the purchasing/selling by insiders I noted some transactions as derivative buy or sale by BCE. The type of securities were identified also as "equity swap-long position".
Can you please clarify what the terms "derivative buy" and "equity swap" mean ?
Thank you

Upvote 7

Read Answer Asked by Terry on January 03, 2025

• Alphabet Inc. (GOOG $294.46)
  • $294.46 P/E (TTM): 27.24X Cap: $3.57T
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Q: Hi 5i wonder team,
If you have fund to invest in only one US stock in 2025, what is your choice?

Upvote 32

Read Answer Asked by Henry on January 03, 2025

• Deckers Outdoor Corporation (DECK $98.31)
  • $98.31 P/E (TTM): 13.91X Cap: $13.95B
  • View DECK Profile
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Q: Hello Peter and team,

Early December, you said DECK trades at 34X forward earnings, a bit expensive but you like it.

Looking at technicals, it is way above the 200 daily moving average. After the big run it has had for the last 2 years, do you think it would be better to wait before buying, expecting it to retrace back to the 200 DMA?

Do you think it still has room to go higher? What would be your target price?

Thank you!

Silvia

Upvote 2

Read Answer Asked by Silvia on January 03, 2025

• Rumble Inc. (RUM $4.98)
  • $4.98 Cap: $2.18B
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Q: Good morning 5i team,
Rumble has recently made a huge deal with Tether. What are your thoughts on the recent parabolic rise in the stock? Do you see Rumble as a potential threat to Youtube?

Upvote 1

Read Answer Asked by Rob on January 03, 2025

Q: Many are feeling the market is high. Certainly, we can't expect another year of 20% growth.

I'm interested in a strategy of maintaining those gains. Does that mean pulling money out of stocks that seem overgrown, or does it mean investing new money into areas that have not been part of the recent rise.

What sectors do you think these are? I nominate well-known companies (especially tech and giants like Costco) as overgrown even if they are good companies, and energy and small cap as part of the second group.

How does this compare with your thinking?

Upvote 23

Read Answer Asked by Kevin on January 03, 2025

• Restaurant Brands International Inc. (QSR $106.71)
  • $106.71 P/E (TTM): 32.73X Cap: $48.68B
  • View QSR Profile
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• A&W Revenue Royalties Income Fund (AW.UN $36.93)
  • $36.93 P/E (TTM): 17.7X
  • View AW.UN Profile
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• Boston Pizza Royalties Income Fund (BPF.UN $24.47)
  • $24.47 P/E (TTM): 13.45X Cap: $580M
  • View BPF.UN Profile
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• Pizza Pizza Royalty Corp. (PZA $15.30)
  • $15.30 P/E (TTM): 16.28X Cap: $510M
  • View PZA Profile
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Q: Pizza Pizza and Boston Pizza's price history and dividend payouts seem to have been reasonably stable for more than one year. I know you prefer AW.UN but are the other two ok for income? QSR looks too pricey and has a low dividend. What do you recommend?

Upvote 3

Read Answer Asked by Jean on January 03, 2025