September 2026
Largest Industrial Software Public Companies in Canada
Benchmark revenue and EBITDA valuation multiples for public comps like
Constellation Software, Computer Modelling Group, Redwood AI, Minehub Technologies and RZOLV Technologies.
 | 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. | $2,046 | -25% | $43B | $47B | 4.0x | 18.6x | ||
| Computer Modelling Group Ltd is a software and consulting technology company engaged in developing and licensing reservoir simulation and seismic interpretation software. The company also provides professional services consisting of highly specialized support, consulting, training, and contract research activities. The firm has operations in the Americas, Europe, Middle East, Africa, and Asia-Pacific regions. | $3 | -37% | $210M | $226M | 2.5x | 9.0x | ||
| Redwood AI Corp is an artificial intelligence and post-quantum cybersecurity company developing software platforms for chemical intelligence, pharmaceutical development, defense, national security, and critical infrastructure applications. Its Reactosphere platform applies AI, cheminformatics, and operational data to molecular design, synthesis planning, process optimization, chemical hazard analysis, and supply-chain decision-making. The company also operates the Quantum.IQ platform, which provides AI-powered post-quantum cybersecurity solutions for cryptographic asset discovery, quantum-readiness assessment, compliance, and security infrastructure modernization. | $1 | -- | $55M | $54M | - | (142.1x) | ||
| Minehub Technologies Inc is a technology company engaged in the development and operation of a digital supply chain platform for the commodity markets. The company generates revenue from software as a service and Professional services. | $0 | -9% | $46M | $45M | 31.6x | (10.5x) | ||
| RZOLV Technologies Inc is a clean-tech company that has developed RZOLV, a proprietary, non-toxic hydrometallurgical formula for gold extraction. The Company is focused on the continued research and development of its formula, including validation through industrial tests, after which full commercialization efforts will begin. | $0 | -- | $13M | $13M | - | (3.9x) | ||
| Median | $1 | -25% | $55M | $54M | 4.0x | (3.9x) |
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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