Enghouse Systems Limited

ENGH.TO · Technology · Software - Application · Valued as of 2026-11-03 · Statements 2025-10-31

How Each Value Is Built

The screener's three formulas on the reported figures. Each card reads the same way: the value as a sum of numbered terms, each term's calculation opened under it, from the reported figures to the value. The list ranks companies by their plain average over the market cap.

What it is worth

EPV + Growth

1.11B USD

what the normal year's earnings are worth for ever, plus growth that pays

Profit

776.64M USD

15 years of cash the shareholders can take out, and the equity left at year 15

FCFF

767.89M USD

15 years of cash for shareholders and lenders, less what is owed

Average Intrinsic Value

883.79M USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

723.28M USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

1.22×

the ratio the screener ranks by

Margin of Safety

+18.2%

1 − Market Cap / Average Intrinsic Value

Projections, not exact values. Intrinsic Values are projected from each company's past reports. They show which stocks look cheap compared with the others, not exactly what a stock is worth.

Earnings power value plus growth: 1.11B USD
What the normal year's operating profit after tax is worth if it lasts for ever, plus what the new investment adds beyond its cost, less the net debt that comes before the shareholders (or plus the net cash).
①EPV (earnings power value)921.25M USD
+②Net Cash Today185.60M USD
+③Growth Value0 USD
=Value1.11B USD

EPV of the Operations (NOPAT over WACC)

921.25M USD

Net cash today

+185.60M USD

Growth Value

0 USD

Value

1.11B USD

①EPV (earnings power value)

921.25M USD

②Net Cash Today

185.60M USD

③Growth Value

0 USD

Market value

Market Cap723.28M USD

The price on the date above times the shares.

Value vs market

Margin of Safety+34.7%

1 minus the market cap as a share of the value.

Profit value: today's value of the shareholders' equity, from the cash it can pay them (FCFE): 776.64M USD
Fifteen years of free cash flow to equity (FCFE), each brought to today at the cost of equity, plus the equity at year 15 brought to today.
①Present Value of the 15 Years of FCFE481.97M USD
+②Equity at Year 15, Today294.67M USD
=Value776.64M USD
FCFE: the net income left for the shareholders once the business keeps what next year's growth needsEquity reinvestment: the part of the year's net income kept in the business to grow the next year; below zero, capital the business releases to the shareholdersPresent value of the FCFEColoured bars show the FCFE, grey bars the equity reinvestment. With a positive equity reinvestment the two stacked are the year's normalized income; with a negative one the grey is below zero, capital the business releases, and the normalized income is the FCFE plus that negative amount. Shaded, years 6 to 10: the growth falling to its long-run rate and the ROE on new investment falling to the cost of equity. Axes linear.

①Present Value of the 15 Years of FCFE

481.97M USD

②Equity at Year 15, Today

294.67M USD

Market value

Market Cap723.28M USD

The price on the date above times the shares.

Value vs market

Margin of Safety+6.9%

1 minus the market cap as a share of the value.

FCFF value: today's value of the shareholders' equity, from the cash the firm can pay its shareholders and lenders (FCFF): 767.89M USD
Fifteen years of free cash flow to the firm (FCFF), each brought to today at the WACC, plus the invested capital at year 15 brought to today, less the net debt today (or plus the net cash).
①Present Value of the 15 Years of FCFF496.70M USD
+②Invested Capital at Year 15, Today85.59M USD
+③Net Cash Today185.60M USD
=Value767.89M USD
FCFF: the NOPAT left for the shareholders and the lenders once the business reinvests what next year's growth needsReinvestment: the part of the year's NOPAT put back into the business to grow the next year; below zero, capital the business releasesPresent value of the FCFFColoured bars show the FCFF, grey bars the reinvestment. With a positive reinvestment the two stacked are the year's NOPAT; with a negative one the grey is below zero, capital the business releases, and the NOPAT is the FCFF plus that negative amount. Shaded, years 6 to 10: the growth rising to its long-run rate and the ROIC on new investment falling to the WACC. Axes linear.

①Present Value of the 15 Years of FCFF

496.70M USD

②Invested Capital at Year 15, Today

85.59M USD

③Net Cash Today

185.60M USD

Market value

Market Cap723.28M USD

The price on the date above times the shares.

Value vs market

Margin of Safety+5.8%

1 minus the market cap as a share of the value.

The Rates and the Capital the Values Read

The WACC and the cost of equity each value is discounted at, the book value and the net debt each starts from, and the seven quality metrics, from the same run.

WACC: 6.43%
Cost of Equity =Risk-Free Rate 4.50%+Beta 0.32×Market Risk Premium 6.00%= 6.44%

The yearly return the shareholders require for the risk they carry; it is the rate that brings their future cash to today.

Tax Rate for WACC =Tax Provision 12.80M USDPretax Income 65.54M USD= 19.53%

The tax the interest saves.

Interest Expense =EBIT 65.90M USD−Pretax Income 65.54M USD= 361.56K USD

The interest the company paid: EBIT is the profit before tax plus the interest.

Cost of Debt =Interest Expense 361.56K USDTotal Debt 5.73M USD×(1 − Tax Rate for WACC 19.53%)= 5.08%

What the lenders are paid a year after the tax the interest saves.

Debt Weight =Total Debt 5.73M USDMarket Cap + Total Debt 723.28M USD + 5.73M USD= 0.79%

The part of the capital the lenders put in, at market value.

WACC =Equity Weight 99.21%×Cost of Equity 6.44%+Debt Weight 0.79%×Cost of Debt 5.08%= 6.43%

Weighted average cost of capital: the yearly return the shareholders and the lenders together require, weighted by what each puts in; the rate that brings the firm's future cash to today.

Book value and net debt today
Both from the balance sheet of the newest quarter, 2026-07-31.

Total Assets 588.25M USD − Total Liabilities 160.95M USD = Book Value Today 427.30M USD

Total Debt 5.73M USD − Cash and Short-Term Investments 191.33M USD = Net Debt Today -185.60M USD

The book value is what Profit starts from and what stands when a projection is not made; the book value plus the net debt is what FCFF starts from; the net debt comes off Greenwald's and FCFF's values before the shareholders.

Quality metrics
Read beside the value, never a condition for it: every company is valued, and a filter in the list is the reader's choice.
MetricFrom
Share dilutionShares Today ÷ Shares Two Years Back − 1-2.5%at most 5%passes53,900,959 / 55,256,617
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets3.8%at least -10.0%passes(74.91M USD − 52.74M USD) ÷ 588.25M USD
Price to bookMarket Cap ÷ Book Value Today1.69×at most 3×passes723.28M USD ÷ 427.30M USD
Operating marginOperating Income ÷ Revenue18.0%above 10.0%passes64.39M USD ÷ 357.18M USD
Revenue growthRevenue ÷ Revenue a Year Before − 1-1.2%above 10.0%does not pass357.18M USD / 361.67M USD
Net cash(Cash − Total Debt) ÷ Market Cap25.7%above -30%passes(191.31M USD − 5.73M USD) ÷ 723.28M USD
Operating efficiencyOperating Income ÷ Gross Profit28.3%above 25.0%passes64.39M USD ÷ 227.17M USD

Market Data

The provider's ratios and the analysts' consensus beside the argument; none of them enters a value.

Share price

18.79 CAD

Enterprise value

752.69M CAD

the provider's own figure

EV / EBITDA

7.26×

Price / book

1.69×

the provider's book

Price / earnings

14.55×

Return on equity

11.7%

the provider's figure, not this page's

Profit margin

14.8%

Revenue growth

-6.4%

Analyst target, mean

17.40 CAD

Analysts

4

opinions in the consensus

Financial Statements

The annual lines the screener holds, year by year, in USD at each period's rate; the figures this valuation read are in its calculation above.

USD2022202320242025
Income statement

Revenue

314.53M328.65M361.67M357.18M

Gross profit

218.83M220.07M235.29M227.17M

Operating income

69.07M61.51M68.34M64.39M

EBITDA

operating income before depreciation and amortisation

105.70M98.98M108.43M92.86M

Pretax income

70.79M63.14M72.88M65.54M

Net income

69.51M52.30M58.53M52.74M

Normalized income

net income without one-off items, as the data provider prints it; Profit's line when printed

68.39M53.02M60.44M57.04M

R&D

53.16M57.43M63.94M68.78M
Balance sheet, year end

Total assets

518.59M567.27M599.89M613.45M

Total liabilities

144.79M165.29M171.07M177.09M

Shareholders' equity

the equity the parent's shareholders own, as printed, without minority interest; the book value the values read is total assets less total liabilities, in Book Value and Net Debt above

373.80M401.98M428.82M436.36M

Total debt

14.62M8.98M7.98M7.98M

Cash and equivalents

165.58M173.39M197.38M192.64M

Net PP&E

fixed assets after depreciation

17.84M11.23M11.27M10.99M

Working capital

current assets less current liabilities

125.51M109.93M123.73M111.93M
Cash flow

Operating cash flow

75.90M83.46M95.06M74.91M

Capital expenditure

paid out, so below zero

-676.01K-767.29K-1.42M-1.06M

Depreciation and amortisation

34.37M35.34M35.15M26.96M

Free cash flow

operating cash flow plus capital expenditure

75.22M82.69M93.63M73.86M