CSU 全部观点

Constellation ended up in our watch list um the last three times, whether it be, you know, SAS companies or anything else. One thing that's pretty interesting is that we see they invest a lot more money now in MMA, right? Um or in M&A.

Um that was one of the things where people felt like look if the narrative that AI is not actually going to kill software is actually true they should be able to spend even more money or invest even more money in businesses right that's what we see

Constellation Software stock has rebounded a little bit, but is still significantly down from the previous highs. I have put it on my bets side of the quadrant, which I'm going to update tomorrow, but Constellation in this case deserves a specific video.

If you look at revenue growth, great numbers, 17% growth. You're saying, "Sven, 17% growth, how can that business be down so much? Everything looks great, cash flows up 10%, free cash flows to shareholders 57%." All those numbers look really, really good.