The Globe and Mail reports in its Wednesday edition that Enghouse Systems has a market cap of about a billion dollars. The Globe's guest columnist Philip MacKellar writes that the business has struggled in recent years, and is far from its pandemic peak in 2020. However, it may see capital appreciation ahead, and investors can enjoy a yield of over 6 per cent while they wait. Mr. MacKellar says Enghouse is his top pick for 2026. Enghouse has two business divisions: the Interactive Management Group and the Asset Management Group. The IMG provides customers with services to facilitate remote work, improve client engagement and manage internal communications. Meanwhile, the AMG offers software products and services for infrastructure, transportation and supply chain management, among others. The business fundamentals are solid. Enghouse has increased its top line over multiple business cycles, the balance sheet is cash-rich with hardly any debt, and it has produced consistent cash flows from operations and free cash flows over time. Insider alignment is strong, with executives and directors owning more than 20 per cent of the shares outstanding. Chief executive officer Stephen Sadler alone owns more than 11 per cent.