Constellation Software Inc.
Shortcut
25.49Normalized diluted EPS
-13.9% vs Street
Street
29.62Normalized diluted EPS
November 1 consensus snapshot
Real
24.70Reported normalized EPS
Model download
Explore the assumptions and calculations behind the forecast. This is the agent’s original workbook. Its review didn’t finish, so it hasn’t been checked or repaired.
Shortcut’s reasoning.
Operating build ≈ consensus: revenue $3513m (+19.1% Y/Y; FX-adjusted organic +1.4%, M&A +18.1% via the acquired-revenue ladder incl. RBC-tracked $616m annual revenue of Q3 deals, FX -0.5%); operating profit before D&A $972m vs consensus EBITDA 976.
IRGA liability mark: Asseco Poland +31% (PLN 167.15→219.00) and Sygnity +6% in Q3 plus ~€30m underlying growth lift the €-liability ~€97m ⇒ ~$112m non-cash charge (FX -5.6) that consensus normally does not model.
consensus normalized actuals have absorbed ~83% of IRGA/FX swings over the six supplied quarters (least squares: amortization+deferred-tax coefficient 0.961, IRGA/FX exclusion 0.175); the 2Q25/4Q25 misses and 1Q26 beat line up with IRGA/FX.
Bridge: GAAP NI to common $239m (EPS $11.28) + amortization $372m + deferred tax $-78m − NCI share + 17% of IRGA/FX ⇒ normalized NI $540m, EPS $25.49 vs consensus $29.62; a Street-style measure excluding IRGA/FX would be $29.64.
Beat probability: large-cap prior 0.78 with 2 strict beats in 6 ⇒ start 0.589; cut to 0.15 because the model gap (-4.13 $/sh) exceeds ~$2.4/sh model error, keeping ~20% weight on consensus excluding IRGA this quarter.
On the record.
- Reporting period
- FQ3 2026 (quarter ended 2026-09-30)
- Reporting basis
- normalized EPS, USD per diluted ordinary share (basic = diluted, 21.19m shares; no ADR)
- Consensus snapshot
- November 1, 2026
- Model / effort
- Opus 5.5 · High effort
- Workbook
- Original workbook · review incomplete
Record history
- Forecast generated
- Nov 1, 2026 at 11:34 PM PST
- First posted
- Nov 2, 2026 at 4:10 PM PST
- Result checked
- Nov 8, 2026 at 12:59 PM PST
Result basis
Provider reports Q3 2026 normalized EPS of US$24.70. All six frozen normalized historical EPS values match. The issuer released results on November 6, reporting IFRS diluted EPS of US$10.01; the provider date of November 9 is the earnings-call date. The release does not publish a normalized EPS reconciliation. It is scored on the provider’s normalized EPS, the same basis as the Street.