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Constellation Software (TSX:CSU) Cyclically Adjusted Price-to-FCF : 64.23 (As of Jul. 10, 2025)


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What is Constellation Software Cyclically Adjusted Price-to-FCF?

As of today (2025-07-10), Constellation Software's current share price is C$4956.28. Constellation Software's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2025 was C$77.17. Constellation Software's Cyclically Adjusted Price-to-FCF for today is 64.23.

The historical rank and industry rank for Constellation Software's Cyclically Adjusted Price-to-FCF or its related term are showing as below:

TSX:CSU' s Cyclically Adjusted Price-to-FCF Range Over the Past 10 Years
Min: 39.78   Med: 53.94   Max: 73.86
Current: 64.43

During the past years, Constellation Software's highest Cyclically Adjusted Price-to-FCF was 73.86. The lowest was 39.78. And the median was 53.94.

TSX:CSU's Cyclically Adjusted Price-to-FCF is ranked worse than
71.85% of 707 companies
in the Software industry
Industry Median: 31.33 vs TSX:CSU: 64.43

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted free cash flow per share of a company over the past 10 years.

Constellation Software's adjusted free cash flow per share data for the three months ended in Mar. 2025 was C$55.007. Add all the adjusted free cash flow per share for the past 10 years together and divide 10 will get our Cyclically Adjusted FCF per Share, which is C$77.17 for the trailing ten years ended in Mar. 2025.

Shiller PE for Stocks: The True Measure of Stock Valuation


Constellation Software Cyclically Adjusted Price-to-FCF Historical Data

The historical data trend for Constellation Software's Cyclically Adjusted Price-to-FCF can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Constellation Software Cyclically Adjusted Price-to-FCF Chart

Constellation Software Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Cyclically Adjusted Price-to-FCF
Get a 7-Day Free Trial Premium Member Only Premium Member Only 54.86 60.71 43.78 55.91 62.16

Constellation Software Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Cyclically Adjusted Price-to-FCF Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 58.43 60.34 64.97 62.16 59.05

Competitive Comparison of Constellation Software's Cyclically Adjusted Price-to-FCF

For the Software - Application subindustry, Constellation Software's Cyclically Adjusted Price-to-FCF, along with its competitors' market caps and Cyclically Adjusted Price-to-FCF data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Constellation Software's Cyclically Adjusted Price-to-FCF Distribution in the Software Industry

For the Software industry and Technology sector, Constellation Software's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

* The bar in red indicates where Constellation Software's Cyclically Adjusted Price-to-FCF falls into.


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Constellation Software Cyclically Adjusted Price-to-FCF Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted Price-to-FCF takes the Free Cash Flow per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/FCF calculation. Because it considers this 10-year average, it's often referred to as the CAPFCF Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Price-to-FCF.

Constellation Software's Cyclically Adjusted Price-to-FCF for today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/ Cyclically Adjusted FCF per Share
=4956.28/77.17
=64.23

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Constellation Software's Cyclically Adjusted FCF per Share for the quarter that ended in Mar. 2025 is calculated as:

For example, Constellation Software's adjusted Free Cash Flow per Share data for the three months ended in Mar. 2025 was:

Adj_FreeCashFlowPerShare=Free Cash Flow per Share/CPI of Mar. 2025 (Change)*Current CPI (Mar. 2025)
=55.007/129.1809*129.1809
=55.007

Current CPI (Mar. 2025) = 129.1809.

Constellation Software Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201506 3.545 100.500 4.557
201509 6.406 100.421 8.241
201512 7.081 99.947 9.152
201603 8.942 101.054 11.431
201606 4.038 102.002 5.114
201609 8.282 101.765 10.513
201612 8.072 101.449 10.279
201703 11.217 102.634 14.118
201706 3.509 103.029 4.400
201709 6.795 103.345 8.494
201712 9.487 103.345 11.859
201803 15.501 105.004 19.070
201806 2.787 105.557 3.411
201809 8.426 105.636 10.304
201812 12.744 105.399 15.620
201903 17.477 106.979 21.104
201906 2.634 107.690 3.160
201909 10.497 107.611 12.601
201912 15.225 107.769 18.250
202003 23.319 107.927 27.911
202006 14.772 108.401 17.604
202009 14.296 108.164 17.074
202012 21.094 108.559 25.101
202103 29.121 110.298 34.107
202106 9.457 111.720 10.935
202109 17.041 112.905 19.498
202112 19.932 113.774 22.631
202203 29.272 117.646 32.142
202206 3.988 120.806 4.264
202209 19.701 120.648 21.094
202212 24.744 120.964 26.425
202303 40.161 122.702 42.282
202306 7.147 124.203 7.433
202309 32.116 125.230 33.129
202312 31.527 125.072 32.563
202403 46.436 126.258 47.511
202406 16.297 127.522 16.509
202409 31.832 127.285 32.306
202412 43.900 127.364 44.526
202503 55.007 129.181 55.007

Add all the adjusted free cash flow per share together and divide 10 will get our Cyclically Adjusted FCF per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.


Constellation Software  (TSX:CSU) Cyclically Adjusted Price-to-FCF Explanation

Compared with the regular Price-to-Free-Cash-Flow, which works poorly for cyclical businesses, the Cyclically Adjusted Price-to-FCF smoothed out the fluctuations of free cash flow during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted Price-to-FCF should give similar results to regular Price-to-Free-Cash-Flow.


Constellation Software Cyclically Adjusted Price-to-FCF Related Terms

Thank you for viewing the detailed overview of Constellation Software's Cyclically Adjusted Price-to-FCF provided by GuruFocus.com. Please click on the following links to see related term pages.


Constellation Software Business Description

Industry
Traded in Other Exchanges
Address
66 Wellington Street West, Suite 5300, Td Bank Tower, Toronto, ON, CAN, M5K 1E6
Constellation Software is a conglomerate that acquires, manages, and grows mission-critical vertical market software businesses. As of 2023, we estimate Constellation operates over 1,000 distinct software businesses in over 150 vertical markets globally, with no one business contributing materially to group earnings. The firm operates a highly decentralized model, where portfolio company management holds autonomy and accountability over operating decisions, and where small centralized teams provide financial and strategic guidance.
Executives
Mark Henri Leonard Director, Senior Officer
Jamal Nizam Baksh Senior Officer
Stephen Scotchmer Director
Mark Dennison Senior Officer
Bernard Anzarouth Senior Officer
Mark Robert Miller Director, Senior Officer
Robin Van Poelje Director or Senior Officer of Insider or Subsidiary (other than in 4,5,6)
John Edward Billowits Senior Officer
Claire Marie Catherine Kennedy Director
Lawrence Cunningham Director
Barry Alan Symons Senior Officer
Laurie Mae Schultz Director
Steven Scotchmer Director
Brian Robert Beattie Director or Senior Officer of Insider or Subsidiary (other than in 4,5,6)

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