Financials Badger Infrastructure Solutions Ltd.

Equities

BDGI

CA0565331026

Construction & Engineering

Market Closed - Toronto S.E. 04:00:00 2024-05-31 pm EDT 5-day change 1st Jan Change
40.93 CAD +1.06% Intraday chart for Badger Infrastructure Solutions Ltd. -2.15% +0.54%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Capitalization 1 1,231 1,325 1,096 919.1 1,403 1,411 -
Enterprise Value (EV) 1 1,403 1,455 1,263 1,138 1,678 1,708 1,683
P/E ratio 21 x 53.6 x -96.3 x 36.8 x 24.8 x 17.4 x 13 x
Yield 1.61% 1.56% 1.97% 2.15% 1.69% 1.98% 2.03%
Capitalization / Revenue 1.88 x 2.37 x 1.93 x 1.18 x 1.51 x 1.34 x 1.2 x
EV / Revenue 2.14 x 2.6 x 2.22 x 1.46 x 1.81 x 1.62 x 1.43 x
EV / EBITDA 8.86 x 11.8 x 17.4 x 8.34 x 8.23 x 6.75 x 5.72 x
EV / FCF 405 x 17.9 x 92 x 187 x 42.6 x 57.5 x 20.1 x
FCF Yield 0.25% 5.6% 1.09% 0.53% 2.35% 1.74% 4.97%
Price to Book 3.81 x - - - 4.22 x 3.56 x 2.83 x
Nbr of stocks (in thousands) 35,034 34,854 34,473 34,473 34,473 34,473 -
Reference price 2 35.14 38.03 31.79 26.66 40.71 40.93 40.93
Announcement Date 3/11/20 3/11/21 3/17/22 3/23/23 2/29/24 - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025
Net sales 1 654.3 558.6 568.8 779.7 928.1 1,054 1,173
EBITDA 1 158.4 122.8 72.45 136.5 204 253 294.2
EBIT 1 94.92 50.04 0.853 47.62 109.2 140.4 192.5
Operating Margin 14.51% 8.96% 0.15% 6.11% 11.76% 13.33% 16.41%
Earnings before Tax (EBT) 1 76.2 33.14 -14.43 - 77.53 113.7 174
Net income 1 59.73 24.75 -11.25 24.98 56.69 88.43 117.2
Net margin 9.13% 4.43% -1.98% 3.2% 6.11% 8.39% 9.99%
EPS 2 1.670 0.7100 -0.3300 0.7240 1.642 2.348 3.158
Free Cash Flow 1 3.463 81.51 13.73 6.076 39.37 29.68 83.55
FCF margin 0.53% 14.59% 2.41% 0.78% 4.24% 2.82% 7.12%
FCF Conversion (EBITDA) 2.19% 66.36% 18.94% 4.45% 19.3% 11.73% 28.4%
FCF Conversion (Net income) 5.8% 329.35% - 24.32% 69.44% 33.56% 71.26%
Dividend per Share 2 0.5650 0.5924 0.6250 0.5737 0.6900 0.8087 0.8310
Announcement Date 3/11/20 3/11/21 3/17/22 3/23/23 2/29/24 - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 1 152.9 148.6 183.9 224.6 203.6 195.1 229.3 269.7 235 222.3 268.1 303.4 266.4 - -
EBITDA 1 16.8 13.91 33.05 48.48 38.35 32.67 52.24 72.68 46.77 40.15 68.38 85.85 62.41 48.12 81.77
EBIT 1 -1.191 - - 27.54 13.9 10.96 28.83 48.83 20.86 13.99 39.68 53.37 34.21 - -
Operating Margin -0.78% - - 12.26% 6.83% 5.62% 12.57% 18.11% 8.87% 6.29% 14.8% 17.59% 12.84% - -
Earnings before Tax (EBT) 1 -8.53 - - - 9.004 - - 42.52 - - 34.21 47.89 28.74 - -
Net income 1 -5.903 -6.855 6.129 19.94 5.789 3.764 14.69 32.11 6.393 2.448 25.79 35.58 21.89 - -
Net margin -3.86% -4.61% 3.33% 8.88% 2.84% 1.93% 6.41% 11.91% 2.72% 1.1% 9.62% 11.73% 8.22% - -
EPS 2 -0.1700 -0.1953 0.1786 0.5770 0.1639 0.1090 0.4269 0.9378 0.1900 0.0688 0.7300 1.108 0.6705 - -
Dividend per Share 0.1575 0.1650 0.1650 0.1650 0.1680 0.2247 - 0.1725 0.1725 - - - - - -
Announcement Date 3/17/22 5/12/22 8/11/22 11/3/22 3/23/23 5/3/23 8/3/23 11/2/23 2/29/24 5/1/24 - - - - -
1CAD in Million2CAD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 172 130 167 219 275 297 272 -
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.086 x 1.055 x 2.308 x 1.607 x 1.347 x 1.173 x 0.9237 x -
Free Cash Flow 1 3.46 81.5 13.7 6.08 39.4 29.7 83.5 -
ROE (net income / shareholders' equity) 17.1% 7.51% -3.69% 8.23% 17.9% 24.8% 28.7% -
ROA (Net income/ Total Assets) 9.39% 3.83% -1.83% 3.62% 7.16% 9.8% 12.4% -
Assets 1 636.4 646.2 614.6 690.7 791.3 902.4 945.5 -
Book Value Per Share 2 9.230 - - - 9.650 11.50 14.40 -
Cash Flow per Share 2 3.170 3.990 1.950 2.710 5.180 5.910 6.840 -
Capex 1 110 57.7 53.6 89.5 147 158 152 139
Capex / Sales 16.8% 10.34% 9.43% 11.48% 15.82% 15.03% 12.98% -
Announcement Date 3/11/20 3/11/21 3/17/22 3/23/23 2/29/24 - - -
1CAD in Million2CAD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
8
Last Close Price
40.93 CAD
Average target price
54.88 CAD
Spread / Average Target
+34.07%
Consensus
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