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Badger Infrastructure Solutions Ltd.

Badger Infrastructure Solutions Ltd.

BDGI.TO
Badger Infrastructure Solutions Ltd.CA flagToronto Stock Exchange
91.05
CAD
-0.92
- -
3.06BMarket Cap
Badger Infrastructure Solutions Ltd.
BDGI.TO
(Toronto Stock Exchange)

Recent

price

91.05

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
5.86
6.9
6.9
8.24
9.82
7.86
8.11
10.65
12.18
13.98
12.56
13.12
16.56
19.84
21.63
24.59
22.76
Revenue per Share
0.78
0.81
0.81
1.02
1.24
0.75
0.58
1.41
1.34
1.28
0.56
-0.25
0.53
1.21
1.39
1.75
1.64
Basic EPS, GAAP
-0.12
-0.23
-0.23
-0.37
-0.35
1.19
1.11
0.08
0.79
-0.41
1.72
0.3
0.06
0.6
1.27
1.16
1.6
Free Cash Flow per Basic Share
0.34
0.34
0.34
0.34
0.31
0.26
0.29
0.33
0.38
0.43
0.46
0.5
0.42
0.51
0.52
0.53
0.52
Dividend per Share
2.65
4.03
4.03
4.24
4.81
4.55
4.98
6.4
6.51
6.56
7.52
6.52
6.56
7.26
7.62
8.93
8.01
Book Value per Share
2.5
3.84
3.84
3.92
4.86
5.03
5.41
6.62
6.95
6.38
6.67
5.69
5.8
6.39
6.76
7.93
7.1
Tangible Book Value per Share
32
35
35
37
37
37
37
37
37
36
35
35
34
34
34
34
34
Basic Weighted Avg Shares
190
240
240
305
364
292
301
395
452
501
438
454
571
684
745
832
777
Sales/Revenue/Turnover
19.59
18.01
18.01
18.41
19.62
15.42
13.47
15.75
16.64
12.82
7.85
-0.28
6.11
9.11
11.55
8.12
11.56
Operating Margin (%)
14
19
19
23
30
31
32
36
36
49
57
57
60
70
79
89
82
Depreciation Expense
25
28
28
38
46
28
22
52
50
46
19
-9
18
42
48
59
56
Net Income, GAAP
27.95
33.23
33.23
30.2
27.77
6.68
38.66
8.06
30.54
21.61
25.33
- -
20.07
26.88
29.04
25.58
29.03
Effective Tax Rate (%)
13.29
11.73
11.73
12.43
12.58
9.51
7.15
13.26
11.02
9.13
4.43
-1.92
3.2
6.11
6.43
7.12
7.2
Profit Margin (%)
39
44
44
58
80
60
90
91
105
67
55
43
77
74
62
59
230
Working Capital
46
30
30
77
107
75
75
75
75
109
86
105
157
196
202
236
246
LT Debt
88
140
140
161
193
193
208
253
269
253
258
222
223
245
258
296
267
Total Equity
20.84
18.53
18.53
18.82
18.83
14.69
9.06
18.78
15.61
13.8
6.79
- -
7.49
10.82
13.16
9.8
12.5
Return on Invested Capital (%)
25.91
19.22
19.22
19.26
18.99
11.99
9.45
19.71
16.63
14.46
6.47
- -
6.46
12.55
12.33
13.54
12.8
Return on Capital (%)
43.74
24.89
24.89
25.47
27.28
15.99
12.17
24.78
20.79
19.2
7.81
-3.58
8.1
17.53
18.67
20.99
21.17
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
ST Debt
18
18
20
LT Borrowings
170
193
214
LT Finance Leases
32
31
32
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
34
34
34
Market Capitalization
1,236
1,334
1,625

Working Capital

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
Total Current Assets
206
193
230
Cash, Cash Equivalents & STI
15
1
6
Accounts Receivable, Net
161
153
173
Inventories
12
11
13
Total Current Liabilities
- -
- -
- -
Payables & Accruals
108
89
105
ST Debt
18
18
20
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
4.83%
3.29%
14.67%
Free Cash Flow
103.41%
185.05%
-10.71%
Net Income, GAAP
-23.73%
-57.53%
23.72%
Sales/Revenue/Turnover
11.69%
13.95%
11.65%
Total Cash Common Dividend
6.92%
2.8%
0.02%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
162
187
209
187
745
2025
173
208
214
- -
832
2026
203
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.05
0.35
0.68
0.32
1.39
2025
0.1
0.55
- -
- -
1.75
2026
0.03
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.13
0.13
0.13
0.13
0.52
2025
0.13
0.14
- -
- -
0.53
2026
0.14
- -
- -
- -
- -
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Business
Badger Infrastructure Solutions Ltd. is a leading North American provider of non-destructive excavation and specialized infrastructure services across Canada and the United States. The company utilizes its proprietary Badger Hydrovac™ technology, which employs a pressurized water stream to liquefy soil, subsequently removed by a powerful vacuum system and contained within a storage tank. This method is particularly valued for its precision and safety when working near critical underground infrastructure like utility lines. Badger's comprehensive service offerings extend beyond core hydrovac excavation to include daylighting for visual confirmation of buried utilities, trenching, service repair pits, and pole and piling hole excavation. They also provide debris removal, pipeline excavation, anode installation, emergency response, and potholing services, alongside designing and supplying excavation shoring systems. The company's unique vertical integration allows it to design and manufacture its hydrovac units at its Red Deer, Alberta facility, incorporating operator feedback into its equipment development. Serving a diverse range of sectors, Badger's clientele spans the aggregate, construction, engineering, industrial, mining, oil and gas, power generation, transportation, and utility industries, including specialized railway hydrovac services. The company has demonstrated consistent revenue growth, reporting $745.0 million for the year ended 2024, an increase of 9% from 2023. By the end of 2023, Badger operated a fleet of 1,534 non-destructive excavation units, with plans to expand this to between 1,710 and 1,760 units by the end of 2025. Headquartered in Calgary, Canada, Badger Infrastructure Solutions Ltd. was established in 1992 and adopted its current name in May 2021, having previously operated as Badger Daylighting Ltd. The company's strategic focus emphasizes leveraging its efficient platform for growth, aiming for enhanced EBITDA margins and increased asset utilization. Recent financial highlights include robust Q3 2025 revenue of $237.3 million, a 13% year-over-year increase, and adjusted EPS of $0.91, up 25% year-over-year.

Company News

MCPAPIChat

  • globenewswire.com

    Badger Announces Appointment of Chief Operating Officer

  • globenewswire.com

    Badger Announces Pricing of C$300 Million Senior Unsecured Notes

  • globenewswire.com

    Badger Announces Voting Results of 2026 Annual and Special Meeting of Shareholders