TSX · Engineering & Construction · CAD

Badger Infrastructure Solutions Ltd. (BDGI.TO) Stock Analysis

Badger Infrastructure Solutions Ltd. (BDGI.TO) is a Engineering & Construction stock listed on TSX and quoted in Canadian Dollar.

BDGI.TO

CA$84.46

+CA$1.54 (+1.86%)

Sep 4, 2026 · Market close

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Price History

Hover for the daily close. The dotted line marks the period open.

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BDGI.TO Key Statistics

As of Sep 4, 2026

Trading

Open: CA$82.95
Previous Close: CA$82.92
Day's Range: 82.95–84.99
52-Week Range: 56.37–99.46
Volume: 145.00K
Beta: 0.98

Valuation

Market Cap: CA$2.84B
P/E Ratio: 33.78
Forward P/E: 20.81
P/S ratio: 3.12
EPS (ttm): 2.50

Financials (FY)

Revenue (FY): CA$831.70M+11.65%
Net Income (FY): CA$59.23M+23.72%
Profit margin: 6.67%
Shares Outstanding: 33.66M
1-Year Return: +50.93%

Dividend and dates

Dividend: CA$0.78+0.92%
Ex-Dividend Date: September 29, 2026
Earnings Date: November 4, 2026
Avg Volume: 129.37K

Only metrics the company reports are shown. Data provided by Yahoo Finance via yfinance. Updated daily.

BDGI.TO Stock Return by Calendar Year

Calendar-year returns computed from daily closing prices. Partial years are shown muted and marked with an asterisk.

−14.96%+106.80%+16.11%

2016*2017201820192020202120222023202420252026*

Year	Return
2026 (partial year)	+16.11%
2025	+106.80%
2024	−10.29%
2023	+56.02%
2022	−14.16%
2021	−14.96%
2020	+10.27%
2019	+10.51%
2018	+20.89%
2017	−14.08%
2016 (partial year)	+57.02%

As of September 4, 2026.

BDGI.TO Revenue and Earnings by Fiscal Year

FY ends December

RevenueNet income

2022202320242025

Fiscal year	Revenue	Net income	Net margin
2025	CA$831.70M	CA$59.23M	7.1%
2024	CA$744.95M	CA$47.87M	6.4%
2023	CA$683.80M	CA$41.77M	6.1%
2022	CA$570.81M	CA$18.29M	3.2%

Fiscal year	Revenue	Gross profit	Operating income	Net income	Net margin
2025	CA$831.70M	CA$240.81M	CA$67.55M	CA$59.23M	7.1%
2024	CA$744.95M	CA$218.01M	CA$86.06M	CA$47.87M	6.4%
2023	CA$683.80M	CA$191.09M	CA$62.27M	CA$41.77M	6.1%
2022	CA$570.81M	CA$139.15M	CA$34.87M	CA$18.29M	3.2%

Annual figures as reported, in the company's reporting currency. As of December 31, 2025.

BDGI.TO Dividend History

’16’17’18’19’20’21’22’23’24’25’26*

CA$0.75+4.4% vs 2024

Dividends per share, 2025 · 4 payments

Year	Dividends per share	Payments	Change
2026*	CA$0.39	2	—
2025	CA$0.75	4	+4.4%
2024	CA$0.72	4	+4.0%
2023	CA$0.69	4	+4.8%

Year	Dividends per share	Payments	Change
2026 (partial year)	CA$0.39	2	—
2025	CA$0.75	4	+4.4%
2024	CA$0.72	4	+4.0%
2023	CA$0.69	4	+4.8%
2022	CA$0.66	4	+4.8%
2021	CA$0.63	12	+5.7%
2020	CA$0.60	12	+4.6%
2019	CA$0.57	12	+9.8%
2018	CA$0.52	12	+23.3%
2017	CA$0.42	12	+218.9%
2016	CA$0.13	4	—

Most recent payment: CA$0.20 per share, ex-dividend June 30, 2026. Per-share amounts summed by calendar year from ex-dividend dates. Partial years are shown muted and marked with an asterisk.

BDGI.TO Valuation vs Engineering & Construction Median

Median of 62 stocks

Metric	BDGI.TO	Engineering & Construction median	vs median
P/E	33.78	30.77	10% above
P/S ratio	3.12	1.21	158% above
Profit margin	6.67%	2.16%	4.5 pts above

Medians across 62 Engineering & Construction stocks that report the metric. Medians, not averages, so one outlier cannot move them. As of September 4, 2026.

Analysis

Data-derived

Company Overview

Badger Infrastructure Solutions Ltd. (BDGI.TO) carries a market capitalisation of CA$2.84B. The company sits in the Industrials sector, in the Engineering & Construction industry. Headcount on file is 2,807.

Over the past 52 weeks the price has ranged from CA$56.37 to CA$99.46. The most recent close on file for BDGI.TO is CA$84.46, dated September 4, 2026. That is +CA$1.54 (+1.86%) against the previous close. The latest close sits 49.83% above that 52-week low.

Financial Health

The most recent full year on file, fiscal 2025, shows revenue of CA$831.70M. That is +11.65% against the prior fiscal year, when revenue was CA$744.95M. Net income for the same year was CA$59.23M. That is +23.72% against the prior fiscal year. The reported profit margin is 6.67%. That is 4.5 percentage points above the Engineering & Construction median of 2.16%. Trailing earnings per share are 2.5.

Across the 4 fiscal years on file, revenue moves from CA$570.81M in 2022 to CA$831.70M in 2025. Of those 4 years, 4 report positive net income.

Valuation Assessment

The trailing P/E ratio stands at 33.78. That is 9.76% above the Engineering & Construction median of 30.78. On forward earnings the ratio is 20.81. The price-to-sales ratio is 3.12. On price-to-sales that is 158.34% above the Engineering & Construction median of 1.21. The medians here are taken across 62 Engineering & Construction companies that report the metric.

Over the trailing twelve months the price has returned +50.93%. Measured over 10 years, that is +14.10% a year compounded. Beta against the wider market is reported at 0.98. Annualized volatility over the trailing 10 years is 34.88%.

Growth & Income

Shareholders receive a dividend, yielding 0.92% on the latest price. At the indicated rate that is CA$0.78 a share a year. The ex-dividend date on file is September 29, 2026. Dividends are recorded for 11 calendar years; 2026 shows 2 payments totalling CA$0.39 a share. The year before, 2025, totalled CA$0.75 a share.

So far in 2026 the price is +16.11%. The strongest complete calendar year on file is 2025 at +106.80%; the weakest is 2021 at −14.96%. Of the 9 complete calendar years on file, 5 finished higher.

Peer Comparison

Badger Infrastructure Solutions Ltd. (BDGI.TO) operates in the Engineering & Construction industry. Here is how it compares to its closest peers by market capitalization:

Company	Ticker	Market Cap	P/E Ratio
Badger Infrastructure Solutions Ltd.	BDGI.TO	CA$2.84B	33.8
Quanta Services, Inc.	PWR	CA$93.88B	71.4
Comfort Systems USA, Inc.	FIX	CA$56.67B	38.9
Ferrovial N.V.	FER	CA$41.84B	60.5

The Engineering & Construction industry average P/E ratio is 30.8x. Badger Infrastructure Solutions Ltd. trades at a P/E of 33.8.

Every figure above is read from this page's own data on each nightly rebuild. Informational only, not financial advice. As of September 4, 2026.

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About Badger Infrastructure Solutions Ltd.

Badger Infrastructure Solutions Ltd. provides non-destructive excavating and related services to utilities, industrial, construction, transportation, and other industries in Canada and the United States. It offers Badger Hydrovac for use in safe excavations around critical infrastructure and in congested underground conditions. The company also provides hydrovac services, such as anode installations, daylighting, debris removal, pipelines, potholing, power distribution, service pits, shoring installations, tank cleanouts, trenching, and utility pole holes; and electromagnetic locating, GPS data collection, infrastructure mapping, depth of cover surveys, 4-way sweeps and passive scans, daylight reports, CAD drawings and GIS exports, and watch and protect inspections services. In addition, it offers sewer services, including air testing, CCTV inspections, flushing and cleaning, laser profiling, mainline to lateral inspections, Mandrel testing, reaming and concrete removal, sewer and main line locating, and smoke testing; and disaster response services related to large scale natural disasters comprising hurricanes, floods, and large-scale fires. The company was formerly known as Badger Daylighting Ltd. and changed its name to Badger Infrastructure Solutions Ltd. in May 2021. Badger Infrastructure Solutions Ltd. was founded in 1992 and is headquartered in Calgary, Canada.

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