TOPICUS.COM INC-SUB VOTING (TOI.CA) Stock Fundamental Analysis

Canada • TSX Venture Exchange • TSX-V:TOI • CA89072T1021

96.23 CAD
-3.68 (-3.68%)
Last: Feb 5, 2026, 07:00 PM
Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to TOI. TOI was compared to 66 industry peers in the Software industry. While TOI is still in line with the averages on profitability rating, there are concerns on its financial health. An interesting combination arises when we look at growth and value: TOI is growing strongly while it also seems undervalued.


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

  • TOI had positive earnings in the past year.
  • TOI had a positive operating cash flow in the past year.
  • TOI had positive earnings in 4 of the past 5 years.
  • In the past 5 years TOI always reported a positive cash flow from operatings.
TOI.CA Yearly Net Income VS EBIT VS OCF VS FCFTOI.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2019 2020 2021 2022 2023 2024 0 -500M -1B -1.5B

1.2 Ratios

  • The Return On Assets of TOI (0.25%) is comparable to the rest of the industry.
  • Looking at the Return On Equity, with a value of 1.41%, TOI is in the better half of the industry, outperforming 62.12% of the companies in the same industry.
  • TOI has a Return On Invested Capital of 10.29%. This is amongst the best in the industry. TOI outperforms 84.85% of its industry peers.
  • TOI had an Average Return On Invested Capital over the past 3 years of 13.20%. This is in line with the industry average of 12.50%.
Industry RankSector Rank
ROA 0.25%
ROE 1.41%
ROIC 10.29%
ROA(3y)5.03%
ROA(5y)-31.64%
ROE(3y)23.53%
ROE(5y)N/A
ROIC(3y)13.2%
ROIC(5y)13.96%
TOI.CA Yearly ROA, ROE, ROICTOI.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2019 2020 2021 2022 2023 2024 0 100 -100 200

1.3 Margins

  • Looking at the Profit Margin, with a value of 0.40%, TOI is in the better half of the industry, outperforming 62.12% of the companies in the same industry.
  • In the last couple of years the Profit Margin of TOI has declined.
  • With an excellent Operating Margin value of 15.38%, TOI belongs to the best of the industry, outperforming 80.30% of the companies in the same industry.
  • TOI's Operating Margin has been stable in the last couple of years.
  • TOI has a better Gross Margin (90.36%) than 95.45% of its industry peers.
  • TOI's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 15.38%
PM (TTM) 0.4%
GM 90.36%
OM growth 3Y1.27%
OM growth 5Y1.03%
PM growth 3YN/A
PM growth 5Y-8.59%
GM growth 3Y0.4%
GM growth 5Y0.29%
TOI.CA Yearly Profit, Operating, Gross MarginsTOI.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2019 2020 2021 2022 2023 2024 0 -100 -200

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ROAROEROICOperating and Profit MarginShow most profitable peers

3

2. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so TOI is still creating some value.
  • Compared to 1 year ago, TOI has more shares outstanding
  • Compared to 5 years ago, TOI has more shares outstanding
  • The debt/assets ratio for TOI is higher compared to a year ago.
TOI.CA Yearly Shares OutstandingTOI.CA Yearly Shares OutstandingYearly Shares Outstanding 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M
TOI.CA Yearly Total Debt VS Total AssetsTOI.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2019 2020 2021 2022 2023 2024 500M 1B 1.5B

2.2 Solvency

  • An Altman-Z score of 2.49 indicates that TOI is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • TOI has a Altman-Z score (2.49) which is in line with its industry peers.
  • TOI has a debt to FCF ratio of 2.24. This is a good value and a sign of high solvency as TOI would need 2.24 years to pay back of all of its debts.
  • TOI's Debt to FCF ratio of 2.24 is fine compared to the rest of the industry. TOI outperforms 71.21% of its industry peers.
  • A Debt/Equity ratio of 1.88 is on the high side and indicates that TOI has dependencies on debt financing.
  • TOI's Debt to Equity ratio of 1.88 is on the low side compared to the rest of the industry. TOI is outperformed by 68.18% of its industry peers.
  • Although TOI does not score too well on debt/equity it has very limited outstanding debt, which is well covered by the FCF. We will not put too much weight on the debt/equity number as it may be because of low equity, which could be a consequence of a share buyback program for instance. This needs to be investigated.
Industry RankSector Rank
Debt/Equity 1.88
Debt/FCF 2.24
Altman-Z 2.49
ROIC/WACC1
WACC10.27%
TOI.CA Yearly LT Debt VS Equity VS FCFTOI.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2019 2020 2021 2022 2023 2024 0 200M -200M -400M -600M

2.3 Liquidity

  • A Current Ratio of 0.87 indicates that TOI may have some problems paying its short term obligations.
  • Looking at the Current ratio, with a value of 0.87, TOI is doing worse than 63.64% of the companies in the same industry.
  • TOI has a Quick Ratio of 0.87. This is a bad value and indicates that TOI is not financially healthy enough and could expect problems in meeting its short term obligations.
  • The Quick ratio of TOI (0.87) is worse than 65.15% of its industry peers.
Industry RankSector Rank
Current Ratio 0.87
Quick Ratio 0.87
TOI.CA Yearly Current Assets VS Current LiabilitesTOI.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2019 2020 2021 2022 2023 2024 200M 400M 600M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

8

3. Growth

3.1 Past

  • TOI shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 167.65%, which is quite impressive.
  • Measured over the past years, TOI shows a decrease in Earnings Per Share. The EPS has been decreasing by -9.92% on average per year.
  • TOI shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 19.42%.
  • The Revenue has been growing by 25.41% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)167.65%
EPS 3YN/A
EPS 5Y-9.92%
EPS Q2Q%514.29%
Revenue 1Y (TTM)19.42%
Revenue growth 3Y20.37%
Revenue growth 5Y25.41%
Sales Q2Q%23.02%

3.2 Future

  • The Earnings Per Share is expected to grow by 42.22% on average over the next years. This is a very strong growth
  • TOI is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 18.27% yearly.
EPS Next Y119.92%
EPS Next 2Y62.34%
EPS Next 3Y42.22%
EPS Next 5YN/A
Revenue Next Year21.87%
Revenue Next 2Y20.21%
Revenue Next 3Y18.27%
Revenue Next 5YN/A

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
TOI.CA Yearly Revenue VS EstimatesTOI.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2019 2020 2021 2022 2023 2024 2025 2026 2027 500M 1B 1.5B 2B
TOI.CA Yearly EPS VS EstimatesTOI.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2023 2024 2025 2026 2027 1 2 3

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Find the best growth stocksShow best growing peers

7

4. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 21.82, the valuation of TOI can be described as rather expensive.
  • Based on the Price/Earnings ratio, TOI is valued a bit cheaper than 75.76% of the companies in the same industry.
  • TOI's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.67.
  • Based on the Price/Forward Earnings ratio of 20.38, the valuation of TOI can be described as rather expensive.
  • Based on the Price/Forward Earnings ratio, TOI is valued a bit cheaper than the industry average as 68.18% of the companies are valued more expensively.
  • TOI is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 27.20, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 21.82
Fwd PE 20.38
TOI.CA Price Earnings VS Forward Price EarningsTOI.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, TOI is valued a bit cheaper than the industry average as 71.21% of the companies are valued more expensively.
  • 83.33% of the companies in the same industry are more expensive than TOI, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 13.27
EV/EBITDA 12.15
TOI.CA Per share dataTOI.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 -10 20

4.3 Compensation for Growth

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • TOI has a very decent profitability rating, which may justify a higher PE ratio.
  • A more expensive valuation may be justified as TOI's earnings are expected to grow with 42.22% in the coming years.
PEG (NY)0.18
PEG (5Y)N/A
EPS Next 2Y62.34%
EPS Next 3Y42.22%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. Dividend

5.1 Amount

  • TOI does not give a dividend.
Industry RankSector Rank
Dividend Yield 0%

More info and screens

Find the best dividend stocksShow peers with best dividend

TOPICUS.COM INC-SUB VOTING

TSX-V:TOI (2/5/2026, 7:00:00 PM)

96.23

-3.68 (-3.68%)

Chartmill FA Rating
GICS IndustryGroupSoftware & Services
GICS IndustrySoftware
Earnings (Last)11-04
Earnings (Next)02-10
Inst Owners21.35%
Inst Owner ChangeN/A
Ins Owners0.47%
Ins Owner ChangeN/A
Market Cap8.02B
Revenue(TTM)1.48B
Net Income(TTM)5.96M
Analysts83.64
Price Target197.54 (105.28%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly Dividend2.49
Dividend Growth(5Y)N/A
DP0%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)106.66%
Min EPS beat(2)-34.57%
Max EPS beat(2)247.9%
EPS beat(4)1
Avg EPS beat(4)43.26%
Min EPS beat(4)-37.36%
Max EPS beat(4)247.9%
EPS beat(8)1
Avg EPS beat(8)7.7%
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-4.14%
Min Revenue beat(2)-4.57%
Max Revenue beat(2)-3.71%
Revenue beat(4)1
Avg Revenue beat(4)-1.91%
Min Revenue beat(4)-4.57%
Max Revenue beat(4)3.2%
Revenue beat(8)1
Avg Revenue beat(8)-2.98%
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)-9.71%
EPS NQ rev (1m)18.49%
EPS NQ rev (3m)56.67%
EPS NY rev (1m)17.33%
EPS NY rev (3m)34.28%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-1.32%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.74%
Valuation
Industry RankSector Rank
PE 21.82
Fwd PE 20.38
P/S 3.36
P/FCF 13.27
P/OCF 12.92
P/B 11.77
P/tB N/A
EV/EBITDA 12.15
EPS(TTM)4.41
EY4.58%
EPS(NY)4.72
Fwd EY4.91%
FCF(TTM)7.25
FCFY7.53%
OCF(TTM)7.45
OCFY7.74%
SpS28.68
BVpS8.18
TBVpS-14.53
PEG (NY)0.18
PEG (5Y)N/A
Graham Number28.49
Profitability
Industry RankSector Rank
ROA 0.25%
ROE 1.41%
ROCE 16.34%
ROIC 10.29%
ROICexc 12.18%
ROICexgc 54.87%
OM 15.38%
PM (TTM) 0.4%
GM 90.36%
FCFM 25.28%
ROA(3y)5.03%
ROA(5y)-31.64%
ROE(3y)23.53%
ROE(5y)N/A
ROIC(3y)13.2%
ROIC(5y)13.96%
ROICexc(3y)16.09%
ROICexc(5y)16.51%
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)19.8%
ROCE(5y)19.81%
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3Y8.6%
ROICexc growth 5Y6.98%
OM growth 3Y1.27%
OM growth 5Y1.03%
PM growth 3YN/A
PM growth 5Y-8.59%
GM growth 3Y0.4%
GM growth 5Y0.29%
F-Score4
Asset Turnover0.61
Health
Industry RankSector Rank
Debt/Equity 1.88
Debt/FCF 2.24
Debt/EBITDA 1.88
Cap/Depr 5.24%
Cap/Sales 0.69%
Interest Coverage 11.18
Cash Conversion 90.94%
Profit Quality 6284.44%
Current Ratio 0.87
Quick Ratio 0.87
Altman-Z 2.49
F-Score4
WACC10.27%
ROIC/WACC1
Cap/Depr(3y)5.14%
Cap/Depr(5y)4.76%
Cap/Sales(3y)0.71%
Cap/Sales(5y)0.67%
Profit Quality(3y)357.14%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)167.65%
EPS 3YN/A
EPS 5Y-9.92%
EPS Q2Q%514.29%
EPS Next Y119.92%
EPS Next 2Y62.34%
EPS Next 3Y42.22%
EPS Next 5YN/A
Revenue 1Y (TTM)19.42%
Revenue growth 3Y20.37%
Revenue growth 5Y25.41%
Sales Q2Q%23.02%
Revenue Next Year21.87%
Revenue Next 2Y20.21%
Revenue Next 3Y18.27%
Revenue Next 5YN/A
EBIT growth 1Y21.21%
EBIT growth 3Y21.89%
EBIT growth 5Y26.7%
EBIT Next Year98.27%
EBIT Next 3Y34.86%
EBIT Next 5YN/A
FCF growth 1Y66.75%
FCF growth 3Y25.66%
FCF growth 5Y23.36%
OCF growth 1Y65.6%
OCF growth 3Y25.37%
OCF growth 5Y23.43%

TOPICUS.COM INC-SUB VOTING / TOI.CA FAQ

Can you provide the ChartMill fundamental rating for TOPICUS.COM INC-SUB VOTING?

ChartMill assigns a fundamental rating of 5 / 10 to TOI.CA.


Can you provide the valuation status for TOPICUS.COM INC-SUB VOTING?

ChartMill assigns a valuation rating of 7 / 10 to TOPICUS.COM INC-SUB VOTING (TOI.CA). This can be considered as Undervalued.


How profitable is TOPICUS.COM INC-SUB VOTING (TOI.CA) stock?

TOPICUS.COM INC-SUB VOTING (TOI.CA) has a profitability rating of 6 / 10.


Can you provide the financial health for TOI stock?

The financial health rating of TOPICUS.COM INC-SUB VOTING (TOI.CA) is 3 / 10.


Can you provide the expected EPS growth for TOI stock?

The Earnings per Share (EPS) of TOPICUS.COM INC-SUB VOTING (TOI.CA) is expected to grow by 119.92% in the next year.