AIF (Altus Group Ltd) vs S&P TSX Composite Index (Canada) Comparison

AIF

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AIF

S&P TSX Composite Index (Canada)

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AIF

S&P TSX Composite Index (Canada)

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Altus Group Ltd
Glance View

Market Cap

2.5B CAD

Industry

Real Estate

Altus Group Ltd. stands at the intersection of real estate and technology, carving a niche as a leading provider of software, data solutions, and independent advisory services to the global commercial real estate industry. With roots tracing back to land and property consulting services, the company has evolved significantly. Today, Altus Group is a trusted ally in helping stakeholders navigate the complexities of property valuations, asset management, and investment decision-making. At the core of its operations is ARGUS Enterprise, a powerful software suite that enables real estate professionals to model and forecast asset and portfolio performance effectively. With a global footprint, Altus Group leverages its comprehensive data analytics capabilities, combined with deep industry expertise, to address the challenges of valuation, tax, cost insights, and related advisory services. The company's business model thrives on its ability to blend technology with specialization, generating revenue from both its robust software subscription model and its consulting and advisory services. By providing critical tools and insights, Altus supports real estate professionals in enhancing decision-making and optimizing their investment portfolios. A focus on innovation keeps Altus at the forefront, continually integrating advanced technologies like artificial intelligence and machine learning into its service offerings. This not only strengthens client relationships but also ensures a steady stream of recurring revenue. Through strategic acquisitions and partnerships, Altus Group extends its reach and enhances its comprehensive solutions portfolio, underscoring its commitment to fostering growth and efficiency within the real estate sector.

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AIF Intrinsic Value

What is Intrinsic Value?

Economic Moat is a concept popularized by Warren Buffett to describe a company's durable competitive advantage. It represents the 'moat' that protects a company from competitors and helps it sustain profitability over the long term. Our analysis of the past 10 years showed that companies with a wide economic moat significantly outperformed the market, delivering +645% returns compared to +189% for the S&P 500.

Our research into Economic Moat performance spans the past 10 years and focuses on companies with a wide economic moat. For this analysis, we calculated the average stock price returns of these companies, comparing them to the performance of the S&P 500 index over the same period.

The results were compelling: wide moat stocks achieved a remarkable +645% average return, compared to +188% for the broader market. This difference highlights the long-term benefits of investing in businesses that can maintain their market position and pricing power over time.

Note: This research does not account for survivorship bias. Past performance is not indicative of future results.

Determining whether a company has an economic moat requires both a deep dive into financial metrics and a qualitative assessment of its competitive position. Our analysts conduct a rigorous evaluation that focuses on identifying structural advantages that enable a company to sustain profitability and defend its market share over the long term.

The process begins with an analysis of a company’s historical financial performance. We assess how consistently the company has generated returns above its cost of capital and whether those returns have been stable or improving. However, financial performance alone doesn’t reveal the full picture. To understand the sources of these advantages, we evaluate five key drivers of economic moats:

Network Effect: We analyze whether the value of a company’s product or service grows as its user base expands. Platforms like payment systems or marketplaces benefit from this self-reinforcing.

Switching Costs: We assess whether customers face significant costs or disruptions when switching to a competitor’s product or service. High switching costs create customer stickiness and provide pricing power.

Intangible Assets: Strong brands, patents, and regulatory licenses can protect a company’s market position by creating barriers for competitors or enabling premium pricing. For example, a well-recognized consumer brand may command higher customer loyalty and margins.

Efficient scale: Occurs when a market is optimally served by one or a few players, making it unprofitable for new entrants to compete. This typically happens in industries with high fixed costs or geographic constraints, such as utilities or pipelines.

Cost Advantage: Companies with structural cost advantages can produce goods or services at a lower cost than their competitors, enabling them to offer competitive pricing or maintain higher margins. These advantages often arise from economies of scale, superior supply chain management, or proprietary technology. Firms like Walmart leverage their massive scale to negotiate better terms with suppliers, allowing them to undercut competitors on price.

By examining these factors in combination with a company’s financial performance and market positioning, we classify each company into one of three categories:

This rigorous evaluation ensures that our moat ratings are both comprehensive and reliable, giving investors the tools they need to make well-informed, long-term decisions.

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AIF

vs

S&P TSX Composite Index (Canada)

Stocks Performance
AIF vs S&P TSX Composite Index (Canada)

Performance Gap
AIF vs S&P TSX Composite Index (Canada)

Performance By Year
AIF vs S&P TSX Composite Index (Canada)

Competitors Performance
Altus Group Ltd vs Peers

Altus Group Ltd
Glance View

Company

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AIF vs S&P TSX Composite Index (Canada)

Stocks Performance AIF vs S&P TSX Composite Index (Canada)

Performance Gap AIF vs S&P TSX Composite Index (Canada)

Performance By Year AIF vs S&P TSX Composite Index (Canada)

Competitors Performance Altus Group Ltd vs Peers

Altus Group Ltd Glance View

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AIF

vs

S&P TSX Composite Index (Canada)

Stocks Performance
AIF vs S&P TSX Composite Index (Canada)

Performance Gap
AIF vs S&P TSX Composite Index (Canada)

Performance By Year
AIF vs S&P TSX Composite Index (Canada)

Competitors Performance
Altus Group Ltd vs Peers

Altus Group Ltd
Glance View