Constellation Software (MEX:CSUN) Scaled Net Operating Assets: 0.44 (As of Mar. 2026)


MEX:CSUN Constellation Software Inc MEX:CSUN
65 GF Score
Price MXN33,833.42
GF Value MXN67,444.26
Valuation Significantly Undervalued
! 3 Warning Signs
View Full Analysis

What is Constellation Software Scaled Net Operating Assets?

Constellation Software MEX:CSUN -9.71% 65 Scaled Net Operating Assets is 0.44 as of Mar. 2026. GuruFocus rates MEX:CSUN with a GF Score™ of 65/100 and a GF Value™ of MXN67,444.26 (Significantly Undervalued). The stock has 3 warning signs investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Constellation Software's operating assets for the quarter that ended in Mar. 2026 was MXN251,664 Mil. Constellation Software's operating liabilities for the quarter that ended in Mar. 2026 was MXN122,586 Mil. Constellation Software's Total Assets for the quarter that ended in Dec. 2025 was MXN291,170 Mil. Therefore, Constellation Software's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.44.

Constellation Software Scaled Net Operating Assets Historical Data

* Premium members only.

The historical data trend for Constellation Software's Scaled Net Operating Assets can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Constellation Software Scaled Net Operating Assets Chart

Constellation Software Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.50 0.54 0.48 0.66 0.47

Constellation Software Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Scaled Net Operating Assets Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.45 0.44 0.45 0.44 0.44

MEX:CSUN vs CRM, SHOP, UBER: Scaled Net Operating Assets Comparison

For the Software - Application subindustry, Constellation Software's Scaled Net Operating Assets, along with its competitors' market caps and Scaled Net Operating Assets data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Constellation Software Scaled Net Operating Assets vs Software Industry

For the Software industry and Technology sector, Constellation Software's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where Constellation Software's Scaled Net Operating Assets falls into.


MEX:CSUN
65GF Score
Constellation Software Inc MEX:CSUN
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Constellation Software Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Constellation Software's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2025 )
=(Operating Assets (A: Dec. 2025 )-Operating Liabilities (A: Dec. 2025 ))/Total Assets (A: Dec. 2024 )
=(234614.271-110122.861)/267954.033
=0.46

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=291170.175 - 56555.904
=234614.271

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=214321.847 - 77064.396 - 27134.59
=110122.861

Constellation Software's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Dec. 2025 )
=(251664.362-122586.295)/291170.175
=0.44

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=305996.887 - 54332.525
=251664.362

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=222884.172 - 75250.457 - 25047.42
=122586.295

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

What does a Scaled Net Operating Assets of 0.44 mean?
Constellation Software (MEX:CSUN) has a Scaled Net Operating Assets of 0.44 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Constellation Software and its competitors.
Is Constellation Software's Scaled Net Operating Assets too high?
Constellation Software's current Scaled Net Operating Assets is 0.44. Overall, Constellation Software has a GF Score™ of 65/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Constellation Software's Scaled Net Operating Assets compare to CRM and SHOP?
Constellation Software's Scaled Net Operating Assets of 0.44 can be compared against companies in the Software industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Scaled Net Operating Assets for a Software company?
A good Scaled Net Operating Assets depends on the Software industry context. However, Scaled Net Operating Assets should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Constellation Software and its competitors. Constellation Software's current Scaled Net Operating Assets is 0.44. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Constellation Software stock overvalued right now?
Based on GuruFocus' analysis, Constellation Software (MEX:CSUN) is currently considered Significantly Undervalued. The stock's GF Value™ is MXN67,444.26, compared to a current price of MXN33,833.42 — trading 49.8% below its estimated fair value. The current Scaled Net Operating Assets is 0.44. Constellation Software's overall GF Score™ is 65/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For Constellation Software (MEX:CSUN), the current Scaled Net Operating Assets is 0.44 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Constellation Software (MEX:CSUN) Overvalued in 2026?

Based on GuruFocus' analysis, Constellation Software stock appears to be undervalued. The current stock price of MXN33,833.42 is trading 49.8% below its estimated GF Value™ of MXN67,444.26. GuruFocus considers Constellation Software to be Significantly Undervalued.

Key valuation signals for MEX:CSUN:

  • Scaled Net Operating Assets: 0.44
  • GF Value™: MXN67,444.26 vs. price of MXN33,833.42 (49.8% below fair value)
  • GF Score™: 65/100 with 3 warning signs

No single metric tells the full story. See the MEX:CSUN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Constellation Software Business Description

Address 66 Wellington Street West, Suite 5300, Td Bank Tower, Toronto, ON, CAN, M5K 1E6
Constellation Software is an acquirer, manager, and developer of vertical market software, or VMS, businesses globally. VMS differentiates from horizontal software in that it provides mission critical solutions within a specific industry for customers in a particular market. Constellation operates through a decentralized model in which each business operates as its own independent entity. Managers of individual businesses are incentivized to optimize their business for returns on invested capital and revenue growth. Excess cash generated by the individual businesses is repatriated to portfolio managers who focus on allocating as much capital as possible on new acquisitions. As of 2026, Constellation consisted of over 1,000 individual businesses.
65GF Score

Get the complete analysis for MEX:CSUN

Scaled Net Operating Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

MXN33,833.42
Price
MXN67,444.26
GF Value