Topicus.com Inc (TOI) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Topicus.com Inc stock C$26.02, price C$105, that is 75.2% below the price, quality 52 out of 100. Rating: strongly overvalued. Calculated from audited financials with 22 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range C$62.18 – C$194.70 · fair‑value band C$17.24 – C$34.78 · the C$104.78 price screens above the C$26.02 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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Topicus.com Inc. provides vertical market software and vertical market platforms in the Netherlands and internationally. It develops, installs, and customizes software solutions, as well as provides related professional services and support.
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The company provides consumer centric platforms and common workspaces; and software solutions that provide customers with business values and allow them to operate at a level of efficiency.
It serves education, healthcare, social services, local and central government, retail, financial services and accountancy, legal services, real estate, automotive, maritime, and professional associations. Topicus.com Inc. was incorporated in 2020 and is headquartered in Deventer, Netherlands.
Stock analysis
Topicus.com Inc (TOI) currently trades at C$104.78, while our model-based Fair Value estimate is C$26.02, 75% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of C$51.12 per share, and 0 of the 22 models we run sit above the C$104.78 price.
Bear case: the Earnings-Based group reads lowest at C$9.79, and 22 of the 22 models stay below the price. Data coverage for this calculation is medium.
Scenario range: C$17.24 (bear) to C$34.78 (bull), the price of C$104.78 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 52/100 (solid quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Topicus.com Inc reported revenue of €1.6B in FY2025 versus €743M in FY2021, a compound +20.2%/yr. Reported net income was €41.8M in FY2025.
Key figures
Market cap C$22.2B (≈ $15.7B) Large · P/E ratio 40.8 · P/S ratio 1.10 · EPS (TTM) C$2.55 · Net margin 2.7% · Return on equity 7.1% · Return on assets (EBIT) 11.8% (5-year average) · Operating margin 13.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 39 out of 100 (low confidence).
What moves the price
The share trades about 21% below its 52-week high and 25% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −11% fair-value upside, at −75%, TOI screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (C$3.43 to C$70.94). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
BearC$17.24Fair Value C$26.02BullC$34.78
Price C$104.78 · Downside -75.2%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (C$2.18 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.90/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+19.9%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+19.2%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+25.7%
Start year 2020 (pandemic)
Revenue growth 6 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+24.5%
’19
’20
’21
’22
’23
’24
’25
What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−18.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−18.5%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.19% → 17%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−0.9%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+12.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in EUR, euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about −3.0% a year for the price and +10.5% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (93 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: The business was built on tight acquisition discipline and fast integration yet shows only modest returns with high leverage and clear signs of commoditized positioning.
Main risk: Generative AI might enable cheaper code or alternatives that compress pricing power and margins on Topicus's embedded vertical software without displacing customers outright.
Bull case: Topicus could integrate generative AI into its vertical platforms to boost customer value and cut internal development costs while sustaining disciplined acquisitions across Europe.
Bear case: If AI compresses margins across the portfolio and acquisition multiples keep rising, Topicus might struggle to deploy capital effectively and see slower compounding in its European vertical software businesses.
Topicus recently handed the CEO role from long-time leader Robin van Poelje to internal successor Ramon Zanders, who keeps running one of the main operating groups. The board is also moving toward greater autonomy for those groups as stand-alone entities. Will this structure preserve the tight acquisition discipline and integration speed that built the business, or will more independence slow capital deployment and coordination?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Software - Infrastructure · 345 stocks
Beats the industry median on 4/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score52 · Below median
Fair Value upside−75.2% · Bottom 25%
Profitability
Return on equity (12 months)7.1% · Above median
Return on assets2.8% · Above median
Net margin (12 months)3.5% · Below median
Operating margin (12 months)13.2% · Above median
Growth and dividend
Revenue growth (quarter YoY)17.5% · Above median
Balance sheet
Debt / equity0.73× · Highest 25%
Valuation Multiplesvs Software - Infrastructure median · lower = cheaper
P/E (12 months)40.8× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 25
FUTURE (revenue growth)88· sector 60
PAST (return on equity)28· sector 23
HEALTH (low debt)63· sector 98
DIVIDEND (yield)0· sector 31
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Topicus.com Inc Fair Value". https://www.fairvalue-calculator.com/stock/TOI
Frequently asked questions
Is Topicus.com Inc (TOI) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of C$26.02 versus a price of C$104.78, about 75% lower (overvalued).
What is the fair value of TOI?
Our model-based fair value for Topicus.com Inc is C$26.02 (as of Nov 6, 2026), built from audited fundamentals. The current price: C$104.78.
What is the quality score of TOI?
Topicus.com Inc has a Quality Score of 52/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Topicus.com Inc (TOI)?
Our model-based price target is the fair value of C$26.02 (as of Nov 6, 2026) from 22 valuation models. Cautious scenario C$17.24, optimistic scenario C$34.78. It is a calculation from audited fundamentals, not an analyst target.
What is the Topicus.com Inc stock forecast for 2026?
Our models put fair value at C$26.02, about 75% lower versus a price of C$104.78 (overvalued). Cautious scenario C$17.24, optimistic scenario C$34.78. The calculation is refreshed regularly with new filings.
What is the revenue of Topicus.com Inc (TOI)?
Topicus.com Inc reported trailing-twelve-month revenue of about €1.7B (latest available figure, as of Nov 6, 2026).
What growth is priced into Topicus.com Inc (TOI)?
For today's price to be fair in a discounted-cash-flow model, Topicus.com Inc would have to grow free cash flow by -0.9 % per year for five years (discount rate 7.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +25.7 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of TOI use?
Our models discount Topicus.com Inc at 7.9 %: a base by market capitalisation (large), damped by beta 0.30, country premium for Canada. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Topicus.com Inc that is -0.9 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (7.9 %) and the same formula as our fair value.
How much growth has Topicus.com Inc (TOI) delivered so far?
Over the past 5 years revenue at Topicus.com Inc grew +25.7 % a year. The price currently implies free-cash-flow growth of -0.9 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Topicus.com Inc (TOI) growing?
The median revenue growth in the sector is +11.5 % a year. That is the yardstick for the growth priced into Topicus.com Inc (-0.9 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Topicus.com Inc (TOI)?
The free-cash-flow yield on the price is 7.25 %: that much free cash flow Topicus.com Inc produces per unit of market value. When it exceeds the discount rate of our models (7.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Topicus.com Inc (TOI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Topicus.com Inc it is C$26.02 per share (as of Nov 6, 2026), against a price of C$104.78. It is the blended result of 22 valuation models in 6 families (DCF Models, Earnings-Based, Multiples, Growth DCF, Economic Profit, Growth Earnings).
Is Topicus.com Inc stock overvalued or undervalued in 2026?
As of Nov 6, 2026, TOI trades above its calculated fair value: price C$104.78, fair value C$26.02, a gap of about −75% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of TOI?
No. The price is what the market pays today (C$104.78); the fair value is what the company's own numbers justify (C$26.02). For Topicus.com Inc the two are C$78.76 per share apart. That gap is exactly why we show both numbers side by side.
How much is Topicus.com Inc worth?
The market values Topicus.com Inc at about C$22.2B (market capitalisation, as of Nov 6, 2026). Per share that is C$104.78; our models calculate a fair value of C$26.02 per share.
What do the bullish and bearish scenarios say about TOI?
Our models span a range for Topicus.com Inc: cautious scenario C$17.24, base C$26.02, optimistic C$34.78 per share (as of Nov 6, 2026, price C$104.78). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TOI?
Topicus.com Inc trades at a price-to-earnings ratio of 40.8 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of C$26.02 is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 52.6 (reported for FY2025: 132.7).
How solid is the balance sheet of Topicus.com Inc (TOI)?
Balance-sheet figures for Topicus.com Inc (as of Nov 6, 2026): return on equity 7.1%, debt of 0.73 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is TOI from its 52-week high?
Topicus.com Inc trades at C$104.78, about 21% below its 52-week high of C$132.16 and 25% above the low of C$83.73 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of C$26.02 is for.
Which stocks are comparable to Topicus.com Inc?
From the same area (Technology) we also value Microsoft Corporation, Oracle Corporation, Palantir Technologies Inc, Palo Alto Networks, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Topicus.com Inc stock attractive at the current price?
The data as of Nov 6, 2026: price C$104.78, calculated fair value C$26.02 (−75%), Quality Score 52/100, from 22 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of TOI calculated?
We run Topicus.com Inc through 22 models from 6 families: DCF Models, Earnings-Based, Multiples, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of C$26.02 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Topicus.com Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Topicus.com Inc (TOI)?
The closing price on Nov 6, 2026 was C$104.78. Our model-based fair value is C$26.02, about 75% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Topicus.com Inc right now?
The price sits above even our optimistic bull case (C$34.78). The favourable scenario is already priced in. Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (C$17.24 to C$34.78) leaves room in how you read the outcome.
Key figures of Topicus.com Inc
How large is the market capitalisation of Topicus.com Inc (TOI)?
The market capitalisation of Topicus.com Inc is C$22.2B (≈ $15.7B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Topicus.com Inc (TOI)?
The price-to-sales ratio of Topicus.com Inc is 1.10 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Topicus.com Inc (TOI)?
Earnings per share at Topicus.com Inc are C$2.55 (price ÷ EPS = P/E 40.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Topicus.com Inc (TOI)?
The net margin of Topicus.com Inc is 2.7% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Topicus.com Inc (TOI)?
The return on equity (ROE) of Topicus.com Inc is 7.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Topicus.com Inc (TOI)?
On an EBIT basis the return on assets of Topicus.com Inc is 11.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Topicus.com Inc (TOI)?
The operating margin of Topicus.com Inc is 13.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Topicus.com Inc (TOI)?
Revenue at Topicus.com Inc is growing +17.5% versus a year earlier (3y avg +19.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Topicus.com Inc (TOI)?
Earnings per share at Topicus.com Inc are growing +16.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Topicus.com Inc (TOI) carry?
The net debt of Topicus.com Inc is €366M (fiscal year 2025, ≈ 0.9 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Nov 6, 2026