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We are a corporation domiciled in the Province of Ontario, Canada and operate under the Business Corporations Act (Ontario) (OBCA). Our principal executive offices and global headquarters are located at 5140 Yonge Street, Suite 1900, Toronto, Ontario, Canada M2N 6L7.
$367.37
+$12.60 (+3.55%)
Price from 12 days ago
Operating margin is thin at 8.40%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue up 28.5% YoY with margins expanding 2.2pp.
At 45x earnings, the current multiple leaves limited room for execution misses or growth deceleration.
44.5x earnings, 86.5x FCF. The market is pricing in years of above-average growth. If that thesis breaks, downside from multiple compression alone could be 30%+. This is a stock where you're paying for the future, not the present.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$13.79B
▲ +28.5% YoY
Net Income (TTM)
$959M
▲ +94.5% YoY
Op. Margin
8.59%
▲ +2.2pp YoY
ROIC
33.53%
▲ +11.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$492M
▲ +51.3% YoY
Op. Cash Flow (TTM)
$886M
▲ +39.2% YoY
Net Debt
$620M
Cash & Equiv.
$378M
3Y CAGR: +19.6%
3Y CAGR: +65.0%
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