Constellation Software Inc.’s accelerating acquisitions pace translates into rising cash flow
share price has surged to record highs after shaking off a lull in 2022, and there’s at least one good reason to stick with this rally: The company is picking off acquisitions at a brisk pace.
Successful deals translate into rising cash flow, and cash is then used to finance additional deals. In 2007, Constellation generated nearly $35-million in cash from its operations; by 2022, this number had risen to nearly $1.3-billion. Investors are clearly showing renewed confidence in the stock, which is up 21 per cent in 2023 and up 39 per cent from a recent low in November.
The flurry of deals comes amid a sluggish period for mergers and acquisitions more generally, as higher interest rates and economic uncertainty have
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