Badger Infrastructure Solutions Ltd

Badger Infrastructure Solutions Ltd

57.00
EUR
0.00
(0.00%)
1.30EPS
44.07P/E
1.94BMarket Cap
Nov 05Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
7.76
8.46
5.69
6.03
8.47
8.93
10.76
12.56
13.12
12.23
19.84
21.63
24.59
26.15
Basic EPS, GAAP
0.96
1.06
0.54
0.43
1.12
0.98
0.98
0.56
-0.25
0.39
1.21
1.39
1.75
1.49
Free Cash Flow per Basic Share
-0.35
-0.3
0.86
0.83
0.06
0.58
-0.31
1.72
0.3
0.04
0.6
1.27
1.16
0.19
Dividend per Share
0.32
0.27
0.19
0.21
0.26
0.28
0.33
0.46
0.5
0.31
0.51
0.52
0.53
0.55
Book Value per Share
4.09
4.49
3.76
4.17
5.43
5.4
5.58
7.4
6.43
4.77
7.11
7.54
8.78
9.28
Tangible Book Value per Share
3.69
4.18
3.63
4.03
5.27
5.18
5.04
6.68
5.71
4.28
6.39
6.8
7.95
8.51
Basic Weighted Avg Shares
37
37
37
37
37
37
36
35
35
34
34
34
34
34
Sales/Revenue/Turnover
287
313
211
224
314
331
386
438
454
422
684
745
832
882
Operating Margin (%)
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
6.91
Depreciation Expense
22
26
23
24
29
26
37
57
57
44
70
79
89
97
Net Income, GAAP
36
39
20
16
42
37
35
19
-9
14
42
48
59
50
Effective Tax Rate (%)
30.2
27.77
6.68
38.66
8.06
30.54
21.61
25.33
- -
20.07
26.88
29.04
25.58
28.4
Profit Margin (%)
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
5.7
Working Capital
55
69
44
67
72
77
52
55
43
57
74
62
59
68
LT Debt
73
92
54
56
60
55
84
86
105
116
196
202
236
304
Total Equity
151
166
139
155
202
197
195
258
222
165
245
258
296
312
Return on Invested Capital (%)
18.34
18.07
11.94
9.19
19.36
14.99
14.12
7.23
- -
6.41
12.3
13.16
9.8
7.73
Return on Capital (%)
18.62
17.61
10.14
8.76
19.04
14.93
13.87
7.2
- -
5.57
14.41
12.46
13.68
10.96
Return on Common Equity (%)
24.48
24.8
13.11
10.89
23.4
18.31
17.95
8.57
-3.64
6.99
20.4
19.03
21.37
17.74

Capital Structure

USD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
22
23
24
LT Borrowings
198
235
255
LT Finance Leases
38
39
49
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
34
34
34
Market Capitalization
1,844
1,503
2,211

Working Capital

USD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
220
230
269
Cash, Cash Equivalents & STI
5
7
7
Accounts Receivable, Net
173
172
198
Inventories
15
17
15
Total Current Liabilities
161
170
201
Payables & Accruals
100
116
136
ST Debt
22
23
24
Deferred Revenue
- -
- -
- -

Growth Rates

USD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
9.94%
5.81%
14.67%
Free Cash Flow
121.63%
261.18%
-10.71%
Net Income, GAAP
-7.29%
-30.43%
23.72%
Sales/Revenue/Turnover
16.13%
15.85%
11.65%
Total Cash Common Dividend
12.93%
6.94%
0.02%

Quarterly Revenue

USD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
162
187
209
187
745
2025
173
208
- -
214
832
2026
203
257
- -
- -
- -

Quarterly Earnings Per Share

USD

•

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
- -
0.25
1.75
2026
0.03
0.67
- -
- -
- -

Quarterly Dividends Per Share

USD

•

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
- -
0.13
0.53
2026
0.14
0.14
- -
- -
- -

Company Description

CEO
Robert Blackadar
Full Time Employees
2,807
Sector
Industrial services
Industry
Engineering & construction
Address
525-8th Avenue SW Calgary AB Canada T2P 1G1
IPO Date
Mar 21, 1996
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

  • Badger Confirms Release Date for Q3 2026 Results

  • Badger Announces Acceptance of Its Notice of Intention to Renew Its Normal Course Issuer Bid

  • Badger Infrastructure Solutions Q2 Earnings Call Highlights

  • Badger Confirms Release Date for Q2 2026 Results

  • Badger Announces Closing of C$300 Million Senior Unsecured Note Offering

  • Badger Announces Appointment of Chief Operating Officer

  • Badger Announces Pricing of C$300 Million Senior Unsecured Notes

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

  • Badger Infrastructure Solutions Ltd. (BDGI:CA) Q1 2026 Earnings Call Transcript

  • Badger Infrastructure Solutions Ltd. Confirms Release Date for Q1 2026 Results and Timing and Other Information Regarding 2026 Annual and Special Meeting of Shareholders

  • Badger Infrastructure Delivers Another Quarter of Double Digit Growth in Revenue, Adjusted EBITDA and Adjusted Net Earnings

  • Badger Infrastructure Solutions Ltd. Confirms Release Date For Q3 2025 Results

  • Badger Infrastructure Solutions Ltd. Delivers Double Digit Growth in 2025 Second Quarter Revenue, Adjusted EBITDA and Adjusted Net Earnings

  • Badger Infrastructure Solutions Ltd. Confirms Release Date for Q2 2025 Results

  • Badger Infrastructure Solutions Ltd. (BADFF) Q1 2025 Earnings Call Transcript

  • Badger Infrastructure Solutions Ltd. Delivers Solid Growth in 2025 First Quarter Revenue, Adjusted EBITDA and Adjusted Net Earnings

  • Badger Infrastructure Solutions Ltd. Confirms Release Date for Q1 2025 Results and Filing of Management Information Circular in Connection With 2025 Annual Meeting of Shareholders

  • Badger Infrastructure Solutions Ltd. (BADFF) Q4 2024 Earnings Call Transcript

  • Badger Infrastructure Solutions Ltd. Delivers Solid Growth in 2024 Full Year Revenue, Adjusted EBITDA, Adjusted Net Earnings and a 4.2% Dividend Increase

  • Badger Infrastructure Solutions Ltd. Confirms Release Date for Fourth Quarter 2024 Results