CSU: Constellation Software - Investment Thesis

Full investment thesis on why I am long constellation software

price: roughly $2,800

p/fcf: roughly 15ish

The tldr is that very low multiple with long history of growth. I think the businesses that they own are too niche to be easily disrupted by AI. They've been going through a year of record capital deployment as well. The forward multiple on this is probably 13ish. So a few more years of 10-15% growth and this thing could return a 10% dividend given they stop acquiring. I think price keeps getting beaten down with new AI releases so for now i'll just be patient, stay long and let it compound away