Constellation Software (CSU) Q4 2024 earnings summary

Executive summary

• Revenue for Q4 2024 rose 16% year-over-year to $2,703 million; full-year revenue up 20% to $10,066 million, driven mainly by acquisitions and modest organic growth.

• Net income attributable to common shareholders doubled in Q4 to $285 million ($13.44/share) and increased 29% for the year to $731 million ($34.48/share).

• Completed acquisitions totaling $1,792 million for the year, with $475 million in Q4 alone.

• Declared a $1.00 per share dividend payable April 15, 2025.

Financial highlights

• Q4 cash flows from operations (CFO) increased 33% year-over-year to $678 million; full-year CFO up 23% to $2,196 million.

• Free cash flow available to shareholders (FCFA2S) rose 48% in Q4 to $482 million and 27% for the year to $1,472 million.

• Organic revenue growth was 1% in Q4 and 2% for the year, with 2% for both periods after FX adjustments.

Outlook and guidance

• Forward-looking statements caution significant risks and uncertainties may impact future results; no guarantees of future performance.