October 2026
Largest Industry 4.0 Public Companies in Canada
Benchmark revenue and EBITDA valuation multiples for public comps like
Constellation Software, Computer Modelling Group, Argo, Redwood AI and Minehub 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. | $2,236 | -15% | $47B | $51B | 4.4x | 20.2x | ||
| 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 | -23% | $215M | $231M | 2.6x | 9.2x | ||
| 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 | -37% | $58M | $62M | 39.5x | (6.3x) | ||
| 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 | -- | $44M | $43M | - | (113.3x) | ||
| 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 | -46% | $37M | $36M | 24.9x | (8.3x) | ||
| 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) | ||
| Acceleware Ltd is a developer of electromagnetic heating technologies delivering next-generation radio frequency (RF) power-to-heat solutions for large-scale industrial applications. Its technologies are designed to reduce energy use and heating costs, while enabling meaningful decarbonization. The company’s patented, Clean Tech Inverter is being applied to improve efficiency and lower costs in amine regeneration. It is also in development with potash producers to economically decarbonize ore drying and other critical mineral processes. RF XL, the company’s low-cost, low-carbon RF thermal recovery technology that promises to increase and accelerate heavy oil production for operators. | $0 | +7% | $8M | $10M | 18.9x | (12.9x) | ||
| Mary Agrotechnologies Inc is engaged in the development and distribution of automated home-growing machines and commercial systems for cultivating herbs and vegetables under controlled conditions. Its technology integrates artificial intelligence to optimize plant growth and simplify cultivation for consumers. The company also focuses on the design, establishment, and operation of container farms for commercial applications. Its offerings include the Mary Model Z, a fully automated single-plant enclosure designed to support indoor cultivation by providing climate control and automated care. | $0 | -- | $613K | $613K | - | (12.2x) | ||
| Median | $0 | -23% | $40M | $39M | 18.9x | (7.3x) |
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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