# Badger Infrastructure Solutions Ltd. (BDGI.TO) fundamentals

Data as of 2026-11-04. TSX, Canada. Sector: Industrials / Construction & Engineering. Price C$90.12, market value C$3.0 billion.

## Valuation
- **P/E (trailing): 38.7×** (5-yr avg 36.6×, 3-yr avg 33.0×). Badger Infrastructure Solutions Ltd. trades at 38.7× trailing earnings, close to its own five-year average of 36.6×. The Industrials median in the September 2026 study was 25.7×. Forward P/E is 21.5×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 0.83**. A PEG of 0.83 means the P/E is low relative to expected earnings growth: the market is not paying much for that growth.
- **Price / sales: 3.4×**. Each dollar of revenue is priced at 3.4×.
- **Price / book: 6.9×**. The shares trade at 6.9× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **EV / EBITDA: 17.9×**. Enterprise value is 17.9× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 0.2%** (5-yr avg 1.7%). Free cash flow equals 0.2% of the market value, below its five-year average of 1.7%, so the shares are pricier on cash than usual.
- **Earnings yield: 2.6%**. The inverse of the P/E: 2.6% of the price is earned each year.

## Profitability
- **Gross margin: 28.0%**. Badger Infrastructure Solutions Ltd. keeps 28.0% of revenue after the direct cost of what it sells.
- **Operating margin: 6.9%**. 6.9% of revenue is left after running the business.
- **Net margin: 7.1%**. 7.1% of each dollar of sales reaches the bottom line.
- **Return on equity: 20.0%**. 20.0% on shareholders' equity is excellent if it is not driven by leverage; sustained above 20% usually signals a competitive advantage.
- **Return on invested capital: 7.9%**. Return on all capital, debt included, is 7.9%.
- **Return on assets: 6.6%**. Each dollar of assets produces 6.6% of profit.

## Growth
- **Revenue growth (1 yr): 11.6%** (3-yr 13.4%/yr). Revenue grew 11.6% over the last year.
- **EPS growth (1 yr): 25.9%** (3-yr 48.9%/yr). Earnings per share rose 25.9%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): 173.7%/yr**. Free cash flow has compounded at 173.7% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Debt to equity: 0.87**. Debt is 0.87 times equity, moderate leverage.
- **Net debt / EBITDA: 1.4×**. It would take 1.4 years of operating earnings to repay net borrowings, within the comfortable range.
- **Interest coverage: 3.6×**. Operating profit covers interest 3.6× over, a safe margin.
- **Current ratio: 1.37** (quick 1.27). Current assets cover the next year's liabilities 1.37 times.
- **Altman Z-score: 5.64**. A Z-score of 5.64 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 5/9**. 5 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 0.87%** (C$0.78 per share, trailing). Badger Infrastructure Solutions Ltd. yields 0.87%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 30%** (281% of free cash flow). 30% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 11**. 11 straight years of increases, a record that survived at least one recession.
- **Dividend growth (5 yr): 4.8%/yr** (1-yr 4.4%). The dividend has grown 4.8% a year over five years.

## Analyst view
- **Analyst consensus: strong_buy** (8 analysts). 8 analysts cover Badger Infrastructure Solutions Ltd.; the consensus is strong_buy, with an average price target of C$113.41 (+26% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 15.9%** (YTD 15.1%, 3-mo -5.7%). The shares are up 15.9% over twelve months including dividends.
- **From 52-week high: -11.8%** (50.3% above the low). Trading 12% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 40**. An RSI of 40 is neutral.
- **Beta (1 yr): 1.07** (volatility 42%). Beta of 1.07 against the S&P/TSX Composite: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=BDGI.TO · Page: https://foliofundamentals.com/stocks/bdgi.to

Not investment advice.