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Altus Group (TSX:AIF) has been drawing attention after a period of weaker share performance, with the stock showing negative returns over the past month, the past 3 months, and year to date.

See our latest analysis for Altus Group.

At a share price of CA$49.75, Altus Group has faced steady selling pressure in recent months, with short term share price returns weak and longer term total shareholder returns mixed, which suggests momentum has been fading rather than building.

If Altus Group’s recent pullback has you reassessing your watchlist, it could be a good moment to broaden your search and check out fast growing stocks with high insider ownership as potential alternatives.

With Altus Group’s shares under pressure and trading at CA$49.75, the key question now is whether the current valuation reflects a discount to its underlying business or if the market is already pricing in future growth potential.

Most Popular Narrative: 17.9% Undervalued

With Altus Group last closing at CA$49.75 against a narrative fair value of CA$60.63, the current share price sits well below that implied estimate.

Accelerating client migration from ARGUS Enterprise to ARGUS Intelligence, coupled with successful adoption of new pricing models and double digit growth in ARGUS recurring revenue, positions the company to benefit from continued demand for advanced real estate analytics supporting sustained revenue and net margin expansion as secular industry digitization continues.

Read the complete narrative.

Curious what kind of revenue build, margin profile, and earnings power need to line up to back that CA$60.63 figure? The narrative focuses on recurring software economics, rising profitability, and a future valuation multiple that assumes Altus Group can execute on an ambitious commercial real estate analytics roadmap. Want to see exactly which growth and margin paths are doing the heavy lifting in that model?

Result: Fair Value of CA$60.63 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, these assumptions could easily be challenged if commercial real estate activity stays subdued or if the shift to higher margin software and efficiency gains proves slower than expected.

Find out about the key risks to this Altus Group narrative.

Another Take: Expensive On Earnings

While the narrative fair value points to Altus Group trading below an implied CA$60.63, the current P/E of 82x is far higher than both the Canadian real estate industry at 8x and peers at 37.6x, as well as a fair ratio of 11.1x. That gap suggests valuation risk if sentiment or expectations reset. Which signal do you trust more?

Story Continues

See what the numbers say about this price — find out in our valuation breakdown.TSX:AIF P/E Ratio as at Jan 2026

Build Your Own Altus Group Narrative

If you see the numbers differently or prefer to test your own assumptions, you can build a custom story for Altus Group in just a few minutes, starting with Do it your way.

A great starting point for your Altus Group research is our analysis highlighting 4 key rewards and 2 important warning signs that could impact your investment decision.

Looking for more investment ideas?

If Altus Group is only one piece of your watchlist, do not stop here. Widen your scope and let a few targeted screeners spark fresh ideas.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include AIF.TO.

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