May 2026
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Largest AutomotiveTech Public Companies in Canada
Benchmark revenue and EBITDA valuation multiples for public comps like
Constellation Software, Ballard Power Systems, AmeriTrust, Argo and Hypercharge Networks.
 | 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 2025, Constellation consisted of over 1,000 individual businesses and 64,000 employees. | $2,085 | -43% | $44B | $47B | 4.0x | 14.3x | ||
| Ballard Power Systems Inc is engaged in design, development, manufacture, sale and service of proton exchange membrane ("PEM") fuel cell products for a variety of applications, focusing on power products for bus, truck, rail, marine, stationary and emerging market (material handling, off-road and other) applications, as well as the delivery of services, including technology solutions, after sales services and training. A fuel cell is an environmentally clean electrochemical device that combines hydrogen fuel with oxygen (from the air) to produce electricity. Key geographical revenue is derived from Poland followed by United States, United Kingdom, and other countries. | $6 | +300% | $2B | $1B | 14.3x | (16.8x) | ||
| Ameritrust Financial Technologies Inc is a technology provider. It has developed a powerful suite of cloud-based transaction platforms to buy, sell, trade, finance, and lease new and used vehicles, which includes real-time appraisal services, market information, and financing solutions. | $0 | +65% | $92M | $81M | 67.4x | (12.1x) | ||
| Argo Corp is a new technology venture focused on transforming public transportation and improving mobility within and across Canadian cities. The company is using Canadian technology to remove barriers to transportation services. The company operates in Two segments: Canada and USA. | $0 | -47% | $62M | $65M | 40.4x | (6.4x) | ||
| Hypercharge Networks Corp is an electric vehicle supply equipment company that provides turnkey electric vehicle charging solutions. The Company provides turnkey EV charging solutions, for light and medium duty EVs through a managed charging network of EV charging stations that utilize a cloud-based software platform operating site-owner and Company-owned charging stations and provides iOS and Android mobile applications for drivers to operate Hypercharge and Hypercharge roaming partner EV charging stations. It has a single segment, the sale of EV charging equipment, software, services and maintenance contracts. | $0 | -- | $8M | $7M | 1.0x | (2.5x) | ||
| The Lion Electric Co. includes designing, developing, manufacturing and distributing purpose-built all-electric medium and heavy-duty urban vehicles including battery systems, chassis, bus bodies and truck cabins. The Group also distributes truck and bus parts and accessories. The Group has one reportable operating segment, the manufacturing and sales of electric vehicles in Canada and in the United States. Geographically, the majority of revenue is generated from Canada. | $0 | -38% | $5M | $371M | - | - | ||
| Median | $0 | -38% | $77M | $226M | 14.3x | (6.4x) |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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