Podcast on In-depth Business Talks, Speedwell Research

The Synopsis

Podcast on In-depth Business Talks

Speedwell Research

Speedwell Research spends hundreds of hours researching public businesses each month and in "The Synopsis" they share their key learnings. Most business podcasts are superficial and assume their listeners are unsophisticated. In contrast, The Synopsis trusts listeners are interested in learning about complex, industry-specific issues, so long as they are explained clearly. We cover businesses from inception to current day, coupling business analysis and an investors lens. Start listening today to become a better analyst and investor.

Equity Bottom-Up

Constellation Software / Equity Bottom-Up

<ul><li>Constellation Software is a conglomerate of vertical market software companies that primarily grow through acquisitions</li><li>Revenue growth in 1Q25 was 13%, driven by acquisitions and a shift to more SaaS models</li><li>Free cash flow available to shareholders was up 14% to $510 million, excluding adjustments like the IRGA liability</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Constellation Software is a conglomerate of vertical market software companies that primarily grow through acquisitionsRevenue growth in 1Q25 was 13%, driven by acquisitions and a shift to more SaaS modelsFree cash flow available to shareholders was up 14% to $510 million, excluding adjustments like the IRGA liabilityThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Dialogue. Constellation Software & Copart Updates, AGM, Losing Market Share, Negative Insurance V...

Thematic (Sector/Industry)

<ul><li>US markets experienced declines, particularly in high growth sectors, amid fears of a potential AI bubble</li><li>Constellation Software's stock drawdown may be attributed to investor fears of increased competition from AI, but the company's strong customer relationships and focus on solving customer problems suggest they may not be as vulnerable as perceived</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

US markets experienced declines, particularly in high growth sectors, amid fears of a potential AI bubbleConstellation Software's stock drawdown may be attributed to investor fears of increased competition from AI, but the company's strong customer relationships and focus on solving customer problems suggest they may not be as vulnerable as perceivedThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Briefing. Constellation Software's Largest Ever Drawdown, Amazon's AI Agent Risk, Copart & Floor ...

<ul><li>Strong second quarter performance driven by service spending and business investment, particularly in intellectual property like R&amp;D and software</li><li>Mixed economic indicators show resilient consumer demand but slowing hiring and persistent inflation pressure</li><li>Housing market remains strained with low inventory and high prices, while new home sales see a significant increase in August due to incentives like mortgage buy downs</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Strong second quarter performance driven by service spending and business investment, particularly in intellectual property like R&amp;D and softwareMixed economic indicators show resilient consumer demand but slowing hiring and persistent inflation pressureHousing market remains strained with low inventory and high prices, while new home sales see a significant increase in August due to incentives like mortgage buy downsThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Briefing. Investor Doubt Creeps into Constellation Software and Copart, with both down 30% from Peak

<ul><li>Perimeter had a strong quarter with revenues up 28% year over year to 163 million, driven by growth in both their fire safety and specialty products segments</li><li>EBITDA growth was even stronger at 91 million, with the Fire Safety segment enjoying a 98% incremental margin, showing operating leverage and operational efficiency</li><li>Perimeter's acquisition strategy and diversification into new platforms are helping to offset the impact of wildfires on their business, with promising growth potential for the future.</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Perimeter had a strong quarter with revenues up 28% year over year to 163 million, driven by growth in both their fire safety and specialty products segmentsEBITDA growth was even stronger at 91 million, with the Fire Safety segment enjoying a 98% incremental margin, showing operating leverage and operational efficiencyPerimeter's acquisition strategy and diversification into new platforms are helping to offset the impact of wildfires on their business, with promising growth potential for the future.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Dialogue. Perimeter, CSU, and Copart Update + Nvidia GPU Risks and Fed Rate History

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>We remain near-term bullish since our 4/22/25 Compass, when we discussed that 5110-5120 on the S&amp;P 500 (SPX) was a bounce spot and a level to trade [long] against.</li>
<li>We'll maintain our bullish view as long as market dynamics remain healthy and SPX and ACWI-US are above 5500 and $115; we would be buyers on pullbacks to these levels.</li>
<li>We would also be buyers at 5700-5785 on SPX and $120-$121 on ACWI-US, which are shorter-term supports.</li>
</ul>


We remain near-term bullish since our 4/22/25 Compass, when we discussed that 5110-5120 on the S&amp;P 500 (SPX) was a bounce spot and a level to trade [long] against.
We'll maintain our bullish view as long as market dynamics remain healthy and SPX and ACWI-US are above 5500 and $115; we would be buyers on pullbacks to these levels.
We would also be buyers at 5700-5785 on SPX and $120-$121 on ACWI-US, which are shorter-term supports.


MSCI ACWI (ACWI-US) Testing All-Time Highs; Buy Pullbacks to $120-$121 or $115 Supports. Many Buys

Canada

Constellation Software Inc is a software holding company.  The Company acquires mission-critical, vertical market software companies, and helps them to grow.

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Constellation Software (CSU CN)

Briefing. Constellation Software's Largest Ever Drawdown, Amazon's AI Agent Risk, Copart & Floor ...

Research reports at speedwellresearch.com provide comprehensive and evergreen information on businesses, US markets saw declines in tech stocks,...

The Synopsis

Briefing. Investor Doubt Creeps into Constellation Software and Copart, with both down 30% from Peak

Strong service spending and business investment, particularly in intellectual property and AI infrastructure, drove a strong second quarter...

The Synopsis

Dialogue. Perimeter, CSU, and Copart Update + Nvidia GPU Risks and Fed Rate History

Drew provides a concise summary of important news and events, including discussion on Nvidia, Speedwell Research report on interest rates, book...

The Synopsis

MSCI ACWI (ACWI-US) Testing All-Time Highs; Buy Pullbacks to $120-$121 or $115 Supports. Many Buys

MSCI $ACWI Testing All-Time Highs; Buy Pullbacks to $120-$121 or $115 Supports; Bullish Outlook Intact. Discussed Thursday pre-market that a...

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Dialogue. Constellation Software & Copart Updates, AGM, Losing Market Share, Negative Insurance V...

The podcast discusses Constellation Software's business updates, revenue growth, acquisition strategy, shift to a SaaS revenue model, and upcoming...

The Synopsis

Briefing. Constellation Software's Largest Ever Drawdown, Amazon's AI Agent Risk, Copart & Floor ...

Research reports at speedwellresearch.com provide comprehensive and evergreen information on businesses, US markets saw declines in tech stocks,...

The Synopsis

Briefing. Investor Doubt Creeps into Constellation Software and Copart, with both down 30% from Peak

Strong service spending and business investment, particularly in intellectual property and AI infrastructure, drove a strong second quarter...

The Synopsis

Dialogue. Perimeter, CSU, and Copart Update + Nvidia GPU Risks and Fed Rate History

Drew provides a concise summary of important news and events, including discussion on Nvidia, Speedwell Research report on interest rates, book...

The Synopsis

MSCI ACWI (ACWI-US) Testing All-Time Highs; Buy Pullbacks to $120-$121 or $115 Supports. Many Buys

MSCI $ACWI Testing All-Time Highs; Buy Pullbacks to $120-$121 or $115 Supports; Bullish Outlook Intact. Discussed Thursday pre-market that a...

Vermilion Research