Investment Q&A

• Constellation Software Inc. (CSU $3,382.25)
  • $3,382.25 P/E (TTM): 77.66X Cap: $72.51B
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• Descartes Systems Group Inc. (The) (DSG $114.78)
  • $114.78 P/E (TTM): 48.79X Cap: $9.92B
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• Thomson Reuters Corporation (TRI $189.55)
  • $189.55 P/E (TTM): 34.51X Cap: $84.31B
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• goeasy Ltd. (GSY $140.00)
  • $140.00 P/E (TTM): 9.62X Cap: $2.24B
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• Vanguard Information Technology ETF (VGT $752.20)
  • $752.20 P/E (TTM): 36.27X Cap: $114.75B
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Q: Hi Peter and 5i Team,

My TFSA is made up of CSU (33%), TRI (22), VGT (17), DSG (14), GSY (14).
CSU is the core position (thank you for that recommendation) and will not be added to at this time.

With current available cash and the upcoming 2023 contribution which 2 companies out of TRI, VGT, GSY and DSG would you add to for the best growth scenario?

Thanks for all your sage advise over the years. My first 6 years of retirement have been financially successful and the dividend and share growth has been stellar. Again a big thank you to 5i!

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Read Answer Asked by Dennis on November 07, 2022

• Parkland Corporation (PKI $39.84)
  • $39.84 P/E (TTM): 21.03X Cap: $6.94B
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Q: Does PKI's current unattractiveness come down to its debt ratio or to end-of-year selling-the-losers? Everything else in energy is doing so well. Supposing tax loss sales peter-out and interest rates stabilize, does PKI become attractive as an income investment?

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Read Answer Asked by John on November 07, 2022

• Constellation Software Inc. (CSU $3,382.25)
  • $3,382.25 P/E (TTM): 77.66X Cap: $72.51B
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Q: CSU reported an EPS of $6.42 but for some reason, on Yahoo, it has the 3rd Q EPS as $21.67 instead of $6.42.
Here is the link
https://ca.finance.yahoo.com/quote/CSU.TO/analysis?p=CSU.TO

Cold there of been some adjustments to the EPS that was observed by YAHOO?
Thanks

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Read Answer Asked by Herm on November 07, 2022

• Constellation Software Inc. (CSU $3,382.25)
  • $3,382.25 P/E (TTM): 77.66X Cap: $72.51B
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Q: Current thoughts on this name and it’s near term prospects?

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Read Answer Asked by Kim on November 07, 2022

• Constellation Software Inc. (CSU $3,382.25)
  • $3,382.25 P/E (TTM): 77.66X Cap: $72.51B
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Q: Unusual for CSU to trade down 5% today, possibly in sympathy with TWLO and TEAM, down substantially, 30%-35% on their results.

Despite missing Q3 EPS estimates by a wide margin (not unusual for CSU), would you agree with revenue growth of 33% and forecast 2022 annual cash flow return on equity of nearly 60% there is nothing to worry about here and the drop in CSU today caused by other software companies was unwarranted?

Would you further agree rate of acquisitions for CSU is actually increasing in the current environment?

Thank you.

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Read Answer Asked by Keith on November 07, 2022

• Sylogist Ltd. (SYZ $5.40)
  • $5.40 Cap: $124M
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Q: What do you expect from SYZ when it reports on Nov.14? It has been on a downtrend since 1yr H of $13.24 in Jan.Dropped 3.4% to $5.68 on Nov 4 despite strong N.American markets. Your view on the co. Txs for u usual great services & views

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Read Answer Asked by Peter on November 07, 2022

• Lightspeed Commerce Inc. Subordinate Voting Shares (LSPD $15.71)
  • $15.71 Cap: $2.13B
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Q: This company has been a disaster, now 50% lower than its IPO. What catalyst(s) change this momentum for the company share performance (excluding the bear market). Would you invest in this at these prices?

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Read Answer Asked by Chris on November 07, 2022

• Lightspeed Commerce Inc. Subordinate Voting Shares (LSPD $15.71)
  • $15.71 Cap: $2.13B
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Q: Would you consider Lightspeed an investment or speculation at this time?

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Read Answer Asked by Dan on November 04, 2022

• Kinaxis Inc. (KXS $174.61)
  • $174.61 P/E (TTM): 104.17X Cap: $4.94B
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Q: what are thoughts on earnings. are you still bullish as a top pick.

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Read Answer Asked on November 04, 2022

• Shopify Inc. Class A Subordinate Voting Shares (SHOP $223.22)
  • $223.22 P/E (TTM): 89.73X Cap: $291.48B
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• Lightspeed Commerce Inc. Subordinate Voting Shares (LSPD $15.71)
  • $15.71 Cap: $2.13B
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Q: With Lightspeed selling off today and anything you gleamed from the earnings call would you be comfortable stepping in here with a long term horizon?

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Read Answer Asked by Marty on November 04, 2022

• Premium Brands Holdings Corporation (PBH $99.33)
  • $99.33 P/E (TTM): 65.91X Cap: $4.30B
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Q: Hi 5i,

Pls comment on their release and what your 3 to 5 year view of the company is, specifically are revenue growth, ROE, and other metrics you see as material.

Thx

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Read Answer Asked by Christopher on November 04, 2022

• Trisura Group Ltd. (TSU $40.74)
  • $40.74 P/E (TTM): 15.81X Cap: $1.91B
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Q: Can I please have your comments on Trisura's recently announced earnings. Do you see upside for this security? thank You.

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Read Answer Asked by Brian on November 04, 2022

• Topicus.com Inc. (TOI $131.57)
  • $131.57 P/E (TTM): 1075.35X Cap: $10.78B
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Q: Please comment on earning report . Thanks.

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Read Answer Asked by Lai Kuen on November 04, 2022

• Premium Brands Holdings Corporation (PBH $99.33)
  • $99.33 P/E (TTM): 65.91X Cap: $4.30B
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• A&W Revenue Royalties Income Fund (AW.UN $36.93)
  • $36.93 P/E (TTM): 17.7X Cap: $538M
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Q: Which of these two companies do you prefer to start a long term position in and why?

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Read Answer Asked by Sonny on November 04, 2022

• Compania Cervecerias Unidas S.A. (CCU $13.38)
  • $13.38 P/E (TTM): 14.26X Cap: $935M
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• Ardagh Metal Packaging S.A. (AMBP $3.75)
  • $3.75 Cap: $2.24B
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Q: Perhaps I am "bottom-feeding" a little too diligently; however, am I being too negative? Alternatively, can you suggest solid dividend-payers in this approximate space?

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Read Answer Asked by David on November 03, 2022

• Lightspeed Commerce Inc. Subordinate Voting Shares (LSPD $15.71)
  • $15.71 Cap: $2.13B
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Q: Hi,

Would you consider this a great opportunity to pick up more shares of LSPD knowing how much it tumbled after yesterday’s earnings?

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Read Answer Asked by Marco on November 03, 2022

• Lightspeed Commerce Inc. Subordinate Voting Shares (LSPD $15.71)
  • $15.71 Cap: $2.13B
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Q: Came you please give your amalysis of earnings especially of forward looking commentary.

Thanks

Sheldon

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Read Answer Asked by Sheldon on November 03, 2022

• Savaria Corporation (SIS $21.30)
  • $21.30 P/E (TTM): 25.09X Cap: $1.54B
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Q: Please comment on Q and going forward.Txs for u usual great services & views

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Read Answer Asked by Peter on November 03, 2022

• Descartes Systems Group Inc. (The) (DSG $114.78)
  • $114.78 P/E (TTM): 48.79X Cap: $9.92B
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• Kinaxis Inc. (KXS $174.61)
  • $174.61 P/E (TTM): 104.17X Cap: $4.94B
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• TECSYS Inc. (TCS $35.38)
  • $35.38 P/E (TTM): 200.56X Cap: $541M
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• Lightspeed Commerce Inc. Subordinate Voting Shares (LSPD $15.71)
  • $15.71 Cap: $2.13B
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• Topicus.com Inc. (TOI $131.57)
  • $131.57 P/E (TTM): 1075.35X Cap: $10.78B
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• D2L Inc. Subordinate Voting Shares (DTOL $16.90)
  • $16.90 P/E (TTM): 20.94X Cap: $947M
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Q: Hi 5i, today you replied to Warren's question on DTOL, "and we would be comfortable letting this one go given the comparable attractive buying opportunities right now in the tech space. ".

Please provide 3 to 5 companies that meet the above response, thx.

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Read Answer Asked by Christopher on November 02, 2022

• A&W Revenue Royalties Income Fund (AW.UN $36.93)
  • $36.93 P/E (TTM): 17.7X Cap: $538M
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Q: Could you provide an update on A&W?
I bought it for income, your rating and the news that it had acquired the Canadian rights to Pret a Manger. I was recently in London, and Pret is a very strong brand, with outlets much expanded from several years ago.

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Read Answer Asked by Valerie on November 02, 2022