
Last update at 2026-06-03T20:00:00Z
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TSX Value Picks Including Exchange Income And 2 Stocks Priced Below Estimated Worth
Mon 19 May 25, 12:44 PM3 TSX Stocks Estimated To Be Trading 27.6% To 48% Below Intrinsic Value
Fri 16 May 25, 12:45 PMTSX Value Stocks Celestica And 2 Others That May Be Trading Below Estimated Worth
Tue 13 May 25, 12:56 PM3 TSX Stocks Estimated To Be 25% To 32% Below Intrinsic Value
Mon 12 May 25, 12:42 PM3 TSX Stocks That May Be Trading Up To 28.7% Below Intrinsic Value Estimates
Wed 07 May 25, 12:40 PM3 TSX Stocks That May Be Undervalued Based On Current Market Estimates
Fri 02 May 25, 12:39 PM3 TSX Stocks That May Be Trading Up To 49.2% Below Intrinsic Value Estimates
Wed 30 Apr 25, 12:37 PMTSX Value Picks With AtkinsRéalis Group And 2 Other Stocks Trading At Estimated Discounts
Mon 28 Apr 25, 12:38 PMTSX Value Stocks Estimated To Be Undervalued In April 2025
Thu 10 Apr 25, 12:38 PM3 TSX Companies That May Be Priced Below Their Estimated Value
Thu 03 Apr 25, 12:08 PM| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | 24.87M | 23.71M | 4.85M | 7.78M | -13.42900M |
| Minority interest | - | - | - | - | - |
| Net income | 38.17M | 26.74M | 2.84M | 7.02M | -13.60100M |
| Selling general administrative | 117.05M | 39.92M | 39.84M | 34.90M | 30.70M |
| Selling and marketing expenses | - | 69.52M | 67.20M | 59.65M | 43.35M |
| Gross profit | 195.00M | 175.64M | 146.34M | 114.73M | 83.46M |
| Reconciled depreciation | 3.19M | 3.38M | 3.14M | 2.33M | 2.02M |
| Ebit | 24.91M | 23.90M | 5.14M | -6.92700M | -12.97600M |
| Ebitda | 28.15M | 27.28M | 8.28M | -15.70600M | -10.48400M |
| Depreciation and amortization | 3.24M | 3.38M | 3.14M | -8.77900M | 2.49M |
| Non operating income net other | - | - | - | - | - |
| Operating income | 24.91M | 21.29M | -3.71000M | -6.92700M | -12.97600M |
| Other operating expenses | 222.03M | 195.64M | 184.55M | 149.84M | 117.22M |
| Interest expense | 0.65M | 0.18M | 0.30M | 0.38M | 0.49M |
| Tax provision | -13.06700M | -3.02300M | 2.01M | 0.76M | 0.17M |
| Interest income | 1.86M | 2.50M | 7.96M | 3.54M | 0.06M |
| Net interest income | 1.21M | 2.40M | 7.58M | 3.51M | -0.06500M |
| Extraordinary items | - | - | - | - | - |
| Non recurring | - | - | - | - | - |
| Other items | - | - | - | - | - |
| Income tax expense | -13.29574M | -3.02300M | 2.01M | 0.76M | 0.17M |
| Total revenue | 246.94M | 216.93M | 180.84M | 142.91M | 104.24M |
| Total operating expenses | 170.10M | 154.34M | 150.05M | 121.66M | 96.43M |
| Cost of revenue | 51.93M | 41.30M | 34.50M | 28.18M | 20.79M |
| Total other income expense net | -0.03460M | 2.42M | 8.56M | 14.71M | -0.45300M |
| Discontinued operations | - | - | - | - | - |
| Net income from continuing ops | 37.51M | 26.74M | 2.84M | 7.02M | -13.60100M |
| Net income applicable to common shares | - | 26.74M | 2.84M | 7.02M | -13.60100M |
| Preferred stock and other adjustments | - | - | - | - | - |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 206.27M | 190.71M | 158.38M | 283.67M | 268.12M |
| Intangible assets | 1.03M | 1.67M | 2.40M | 1.15M | 1.58M |
| Earning assets | - | - | - | - | - |
| Other current assets | 11.68M | - | 15.28M | 2.78M | 8.38M |
| Total liab | 132.31M | 132.95M | 107.65M | 91.46M | 77.47M |
| Total stockholder equity | 73.96M | 57.76M | 50.72M | 192.21M | 190.66M |
| Deferred long term liab | - | - | - | 7.93M | 3.85M |
| Other current liab | 1.75M | 18.30M | 0.25M | 1.18M | 0.47M |
| Common stock | 244.16M | - | 247.50M | 268.19M | 266.12M |
| Capital stock | 244.60M | 253.29M | 247.50M | 268.19M | 266.12M |
| Retained earnings | -183.70108M | -205.36800M | -204.78900M | -74.87000M | -81.88800M |
| Other liab | - | - | - | 5.40M | 5.60M |
| Good will | 14.51M | 13.85M | 14.25M | 5.98M | 5.30M |
| Other assets | - | - | - | 8.05M | 4.05M |
| Cash | 73.90M | 92.54M | 71.95M | 216.29M | 215.32M |
| Cash and equivalents | - | - | - | 216.29M | 215.32M |
| Total current liabilities | 123.57M | 128.60M | 100.65M | 84.36M | 69.17M |
| Current deferred revenue | 85.31M | - | 67.27M | 55.78M | 44.58M |
| Net debt | -69.41145M | - | -69.84100M | -213.22700M | -211.32200M |
| Short term debt | 0.62M | - | 1.47M | 1.37M | 1.31M |
| Short long term debt | - | - | - | - | - |
| Short long term debt total | 4.49M | - | 2.11M | 3.07M | 4.00M |
| Other stockholder equity | 20.91M | - | 13.96M | 8.46M | 4.31M |
| Property plant equipment | - | - | - | 4.66M | 5.70M |
| Total current assets | 141.57M | 154.24M | 127.15M | 263.58M | 251.49M |
| Long term investments | - | 0.00000M | 0.04M | - | - |
| Net tangible assets | - | - | - | 185.08M | 183.78M |
| Short term investments | 0.00000M | 0.04M | 0.08M | - | - |
| Net receivables | 55.99M | 39.27M | 42.74M | 38.14M | 27.78M |
| Long term debt | - | - | - | - | - |
| Inventory | - | - | -2.89800M | - | - |
| Accounts payable | 35.89M | 34.86M | 31.66M | 26.02M | 22.82M |
| Total permanent equity | - | - | - | - | - |
| Noncontrolling interest in consolidated entity | - | - | - | - | - |
| Temporary equity redeemable noncontrolling interests | - | - | - | - | - |
| Accumulated other comprehensive income | -7.41348M | - | -5.94600M | -9.57100M | 2.11M |
| Additional paid in capital | - | - | - | - | - |
| Common stock total equity | - | - | - | - | - |
| Preferred stock total equity | - | - | - | - | - |
| Retained earnings total equity | - | - | - | - | - |
| Treasury stock | - | - | - | - | - |
| Accumulated amortization | - | - | - | - | - |
| Non currrent assets other | 24.75M | - | 10.75M | 8.17M | 4.05M |
| Deferred long term asset charges | - | - | - | - | - |
| Non current assets total | 64.70M | 36.47M | 31.22M | 20.08M | 16.63M |
| Capital lease obligations | 2.56M | 1.50M | 2.11M | 3.07M | 4.00M |
| Long term debt total | - | - | - | 1.69M | 2.69M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | - | -1.49500M | -9.52200M | -2.15200M | -1.14500M |
| Change to liabilities | - | - | - | 17.13M | 24.35M |
| Total cashflows from investing activities | -1.87221M | -1.49500M | -9.52200M | -2.15200M | -1.14500M |
| Net borrowings | -1.78500M | -1.88900M | -1.67600M | -1.40500M | -1.35300M |
| Total cash from financing activities | -48.89623M | -6.84100M | -151.00300M | 1.58M | 0.42M |
| Change to operating activities | - | - | - | -5.11800M | -6.38100M |
| Net income | 38.17M | 26.74M | 2.84M | 7.02M | -13.60100M |
| Change in cash | -23.01462M | 20.59M | -144.34300M | 0.97M | -4.33500M |
| Begin period cash flow | 96.92M | 71.95M | 216.29M | 215.32M | 219.66M |
| End period cash flow | 73.90M | 92.54M | 71.95M | 216.29M | 215.32M |
| Total cash from operating activities | 30.10M | 29.25M | 15.96M | 2.29M | -3.25400M |
| Issuance of capital stock | - | - | - | - | 0.00000M |
| Depreciation | 3.24M | 3.38M | 3.14M | 2.33M | 2.02M |
| Other cashflows from investing activities | -0.01504M | -0.25000M | -0.21600M | -1.07100M | 0.00000M |
| Dividends paid | - | - | - | - | - |
| Change to inventory | - | - | - | - | - |
| Change to account receivables | -7.94977M | -4.47200M | -3.73200M | -8.87800M | -12.31900M |
| Sale purchase of stock | -47.87364M | -11.02400M | -159.44800M | 0.81M | 1.28M |
| Other cashflows from financing activities | -0.03125M | 6.07M | 10.23M | 2.98M | 1.77M |
| Change to netincome | - | - | - | -10.19900M | 2.67M |
| Capital expenditures | 1.00M | 1.25M | 0.64M | 1.08M | 1.15M |
| Change receivables | - | - | - | - | - |
| Cash flows other operating | - | - | - | - | - |
| Exchange rate changes | - | - | - | - | - |
| Cash and cash equivalents changes | - | - | - | - | - |
| Change in working capital | -3.39948M | 1.09M | 7.39M | 3.14M | 5.65M |
| Stock based compensation | 6.00M | 7.33M | 6.05M | 4.71M | 2.26M |
| Other non cash items | -7.91111M | -6.26800M | -5.46000M | -15.67600M | 0.40M |
| Free cash flow | 29.10M | 28.00M | 15.33M | 1.21M | -4.39900M |
Sector: Technology Industry: Software - Application
| Company | Change (CAD) | Price (CAD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| DCBO Docebo Inc |
-2.92 11.17% | 23.23 | 14.22 | 11.40 | 2.65 | 6.33 | 1.65 | 14.38 |
| SHOP Shopify Inc |
-4.87 3.01% | 157.08 | 138.91 | 70.92 | 20.17 | 12.93 | 14.73 | 88.85 |
| CRM Salesforce CDR (CAD Hedged) |
-0.81 5.24% | 14.64 | 23.21 | 13.57 | 4.11 | 2.47 | 3.85 | 12.75 |
| NOWS ServiceNow CDR (CAD Hedged) |
-1.27 7.75% | 15.11 | 323.25 | 114.94 | 38.22 | 38.75 | 7.52 | 33.05 |
| CSU Constellation Software Inc. |
-134.79 4.67% | 2750.25 | 78.75 | 16.39 | 4.74 | 11.45 | 3.77 | 17.00 |
Docebo Inc. develops and provides learning management platform for training in Canada, the United States, and internationally. The company's cloud platform consists of a learning suite, which includes Docebo Learn platform, a cloud-based learning platform that allows learning administrators to deliver personalized learning; Docebo Content Marketplace, an access to off-the-shelf learning content and provide predeveloped learning content; Insights module allows organizations to understand the results of learning programs with data visualizations; Learning Evaluation module to incorporate the learner's perspective into analyses by collection of feedback; and Advanced Analytics Pack to integrate learning data into data ecosystem and BI tool. It also offers Communities module enabling interactive learner communities; eCommerce module that monetize from digital training contents, as well as manage and sells training offerings; eCommerce module to monetize training programs; Docebo Integrations; Headless Learning allows businesses to build learning experiences outside of the Docebo learning environment; Harmony Search, an AI-powered search capability. In addition, the company provides Docebo Creator enables organizations to design, scale, and deploy learning contents; Docebo for Salesforce, an integration of Salesforce's APIs and technology architecture to deliver a learning experience within Salesforce workflows; Docebo Embed (OEM) enables original equipment manufacturers to embed and resell the Docebo learning platform; Docebo Branded Mobile App Publisher, allows organizations to create and distribute a branded version of Docebo's mobile learning application; Docebo Extended Enterprise supports customer education, partner enablement, and retention by enabling organizations to train external audiences from a single LMS; and Docebo for Microsoft Teams. The company was founded in 2005 and is headquartered in Toronto, Canada.
55 York Street, Toronto, ON, Canada, M5J 1R7
| Name | Title | Year Born |
|---|---|---|
| Mr. Claudio Erba | Founder, CEO & Director | 1975 |
| Mr. Alessio Artuffo | Pres & COO | NA |
| Mr. Sukaran Mehta A.C.A., C.A., C.P.A., F.C.A. | Chief Financial Officer | NA |
| Mr. Martino Bagini | Chief Corp. Devel. Officer | NA |
| Mr. Michael W. McCarthy | VP of Investor Relations | NA |
| Mr. Domenic Di Sisto | Chief Legal Officer | 1974 |
| Rob Ayre | Communications & PR Mang. | NA |
| Ronda Morra | Global Director of PR & Communications | NA |
| Ms. Nina Simosko | Chief Sales Officer | 1969 |
| Mr. Ryan Brock | Chief Marketing Officer | NA |
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