Descartes Systems: Successful M&A Integration Keeps It On Track For More Upside

Summary

  • Descartes Systems delivered strong Q3 2025 results with 15% revenue growth and 14% adjusted EBITDA growth, driven by successful M&A activities and robust cash flow.
  • The company completed five acquisitions in fiscal 2025, enhancing capabilities in carrier connectivity, e-commerce fulfillment, and global trade intelligence, showing promising integration results.
  • Descartes' focus on innovation and AI investments, along with a debt-free balance sheet, positions it well for sustained 10%-15% annual adjusted EBITDA growth.
  • Despite a high valuation, favorable industry trends and strong growth prospects make Descartes a compelling long-term investment, particularly for those with a multi-decade time horizon.

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Please note all $ figures in $CAD, not $USD, unless otherwise stated.

Introduction

Descartes Systems (TSX:DSG:CA) (NASDAQ:DSGX) has long been thought of as an expensive stock by the market, but the shares

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I'm an insurance Case Manager with a deep interest in investing. My investment philosophy is all about buying high quality stocks and great businesses. My favorite businesses are those led by disciplined capital allocators, earn exceptional returns on capital, and can compound their invested capital over long periods of time.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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