When the market gets nervous, the easiest stocks to buy are often the ones with durable business models, steady cash flow, and a clear reason to keep growing even if investors stay cautious. Simply put, you need a business that can keep putting up good numbers while everyone else worries about the next headline.
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TOI
Topicus.com (TSXV: TOI) looks like a no-brainer for exactly that reason. It buys and operates vertical market software businesses across Europe, which gives it a playbook that already worked beautifully for Constellation Software. Over the last year, it kept doing what investors want to see: buying more niche software assets, growing organically, and even tapping the debt market through an inaugural €200 million Schuldschein loan to support future deals.
For 2025, Topicus stock reported revenue of €1.54 billion, up 25%, while net income rose to €163.1 million from €115.7 million a year earlier. Free cash flow available to shareholders jumped to €183.8 million from €123.8 million. Topicus stock listed a trailing P/E of 123 at writing, so yes, it looks expensive on a headline basis. But this is often how quality compounders look. If management keeps acquiring well and growing cash flow, Topicus stock still fits a nervous market surprisingly well.
PRL
Propel Holdings (TSX: PRL) operates fintech lending platforms for underserved consumers in Canada, the United States, and now the U.K. Over the last year, it completed the QuidMarket acquisition, won regulatory approval to launch Propel Bank, announced a partnership with Column in the U.S., and in March rolled out Freshline while securing another US$150 million commitment.
Its earnings make the case even stronger. Propel reported fiscal 2025 revenue of $589.8 million, up from $449.7 million in 2024, while ending combined loan and advance balances reached $589.5 million. It recently reported a trailing P/E of 11.2 and a forward P/E of 5.5, which looks cheap for a business still growing this fast. That low valuation is probably the biggest reason it fits a nervous market. Investors are getting growth without paying a growth-stock multiple.
TINY
Tiny (TSX: TINY) is the wildcard, but it’s an interesting one. Since the old TVL.A days, the company has moved up, graduating to the TSX in October 2025 under the ticker TINY. It buys and holds internet, software, and digital media businesses for the long term. Over the last year, the biggest news was its majority acquisition of Serato, a global DJ software leader with more than two million users. That deal gave Tiny a more recurring, more software-heavy profile, and that’s exactly the sort of shift investors should like.
The recent numbers show progress, even if this one carries more bumps. Tiny said fiscal 2024 revenue reached $194.2 million, up 5%, while adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) landed between $28.5 million and $32.5 million. In Q1 2025, revenue came in at $48.1 million, adjusted EBITDA rose to $9.7 million from $6.9 million, and net debt-to-adjusted EBITDA improved to 2.7 times from 3 times. Then, in full-year 2025 results, management said adjusted EBITDA grew 22% and recurring revenue grew 50%. That’s the good news. The hard part is valuation and volatility, as Tiny isn’t as clean or predictable as the other two.
Bottom line
If the market stays nervous, investors don’t need to overthink it. Topicus offers proven software compounding, Propel brings fast growth at a modest valuation, and Tiny adds a more adventurous but still credible long-term story. None of these are perfect. But all three have enough business momentum to look like smart buys while other investors keep second-guessing everything.
