Pulling SEC filings + quote and writing the call…

DESCARTES SYSTEMS GROUP INC
Next earnings Sep 1, 2026 · consensus $0.55 EPS, $202M rev
Best-in-class logistics SaaS compounding earnings ~14% with 77% gross margins and no debt, but a 36x multiple already prices the quality.
Sources: SEC EDGAR (CIK 0001050140, latest 6-K filed 2026-06-12) · EODHD · analysis by claude-code · as of 6/21/2026, 8:59:28 PM.
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Middling fundamentals and a rich price (~17% above fair value) leave little margin of safety — a wait-and-see.
Descartes Systems Group operates the Global Logistics Network, a leading supply-chain and logistics software platform (customs/trade compliance, routing, fleet and e-commerce solutions), and is one of the most consistent SaaS compounders in the market. FY2026 continued the pattern: revenue grew 12.0% to $729M, operating income rose 15.9% to $210M, net income increased 14.3% to $164M, and diluted EPS climbed 14.0% to $1.87. The margin profile is elite — 77.1% gross margin, 28.8% operating margin and 22.5% net margin — reflecting a sticky, mission-critical platform with strong pricing power. The multi-year record is remarkably steady, with revenue more than doubling from $349M (FY2021) to $729M (FY2026) and net income compounding from $52.1M to $164M.
The risks, catalysts, 12-month price target and the cited SEC figures behind this rating — with Pro.
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| Line item | FY21 | FY22 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | $349M | $425M | $573M | $651M | $729M |
| Gross profit | $259M | $323M | $435M | $492M | $562M |
| Operating income | $71.4M | $103M | $143M | $181M | $210M |
| Net income | $52.1M | $86.3M | $116M | $143M | $164M |
| Diluted EPS | $0.61 | $1.00 | $1.34 | $1.64 | $1.87 |
| Net margin | 14.9% | 20.3% | 20.2% | 22.0% | 22.5% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
1 sell · 1 member · last 180d
Self-reported periodic transaction reports (STOCK Act). Amounts are disclosed ranges; a trade may be a spouse's. Disclosures lag the trade by up to ~45 days. Source: House Clerk + Senate eFD.
1047 tracked peers · median
Recent news tone vs the market's typical (which skews positive). A soft signal, not a recommendation.