Badger Infrastructure Solutions (BDGI) AI Stock Analysis

• Market Cap: $1.96B
• Dividend Yield: 1.26%
• Average Volume (3M): 103.27K
• Price to Earnings (P/E): 25.7
• Beta (1Y): 0.97
• Revenue Growth: 11.48%
• EPS Growth: 38.41%
• Country: CA
• Employees: 2,517
• Sector: Industrials
• Sector Strength: 72
• Industry: Engineering & Construction
• EPS (TTM): 0.76
• Shares Outstanding: 33,740,240
• 10 Day Avg. Volume: 63,942
• 30 Day Avg. Volume: 103,274
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.00
• Enterprise Value/Revenue: 2.52
• Enterprise Value/Gross Profit: 8.49
• Enterprise Value/Ebitda: 11.16
• 1Y Price Target: $61.99
• Price Target Upside: 6.57% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5

• Rating: 67 Neutral
• Price Target: C$64.00 ▲(10.02% Upside)

Badger Infrastructure Solutions has a strong financial foundation with solid profitability and cash flow management, which is the most significant factor in its score. The technical analysis indicates bullish momentum but warns of overbought conditions. Valuation metrics suggest the stock is relatively expensive, which slightly offsets the positive financial performance.

Badger Infrastructure Solutions Business Overview & Revenue Model

Company Description

Badger Infrastructure Solutions Ltd. provides non-destructive excavating and related services in Canada and the United States. Its Badger Hydrovac technology uses a pressurized water stream to liquefy the soil cover, which is then removed with a vacuum system and deposited into a storage tank. The company offers daylighting services for visual confirmation of buried lines, directional drilling test holes, sacrificial anode installation, pipeline and utility crossings, and subsurface utility engineering test holes applications; slot trenching services; and service repair pits for gas service tie-in, electric cable fault repair, water main and service repair, and telecom splice applications. It also provides pole and piling holes services for utility, traffic signal, and transmission pole holes, as well as light standard and sign post holes; pole removals; end-bearing, pilot holes for friction, and spread footing piles; and well monitor installations applications. In addition, the company offers debris removal services for frac tank clean-outs, road and box culvert clean-outs, pipe-rammed casing clean-outs, ballast and filter media removal, and inside structures and buildings material removal; pipeline excavation services for pipeline crossing and tie-in, hydro probing, utility conflict, and oil and fuel spill applications; and anode installation, emergency response, and potholing services, as well as designs, engineers, and supplies excavation shoring systems. It serves the aggregate, construction, engineering, industrial, mining, oil and gas, power generation, transportation, and utility industries, as well as railway hydrovac services. As of December 31, 2021, it had a fleet of 1,371 Badger hydrovacs. 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.

How the Company Makes Money

Badger Infrastructure Solutions generates revenue primarily through its utility construction and maintenance services. The company's revenue model is based on project contracts with municipalities, utility companies, and private sector clients, which can range from short-term projects to long-term service agreements. Key revenue streams include fees for excavation and drilling services, installation of utility infrastructure, and ongoing maintenance contracts. Additionally, BDGI may benefit from significant partnerships with utility providers and government contracts, which can provide a stable source of income and contribute to its overall earnings. The company's focus on expanding its service offerings and geographic presence also plays a crucial role in driving revenue growth.

Badger Infrastructure Solutions Financial Statement Overview

Summary

Badger Infrastructure Solutions shows strong financial performance with solid profitability, robust margins, and effective cash flow management. The company has a manageable debt-to-equity ratio and strong return on equity, though the balance sheet could benefit from a higher equity ratio.

Income Statement

Badger Infrastructure Solutions demonstrates solid profitability with a consistent gross profit margin around 29% and improving net profit margins, reaching 7.2% in the TTM. Revenue growth is positive at 2.8% TTM, indicating a recovery from previous declines. EBIT and EBITDA margins are robust, reflecting effective cost management and operational efficiency.

Balance Sheet

The company's balance sheet shows a manageable debt-to-equity ratio of 0.99 in the TTM, indicating moderate leverage. Return on equity is strong at 21.4%, showcasing effective use of equity to generate profits. However, the equity ratio is relatively low, suggesting a higher reliance on debt financing.

Cash Flow

Cash flow analysis reveals a healthy operating cash flow to net income ratio of 1.04, indicating strong cash generation relative to net income. Free cash flow growth is positive at 12.7% TTM, and the free cash flow to net income ratio is 0.36, reflecting good cash conversion. However, historical fluctuations in free cash flow growth suggest potential volatility.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	777.39M	744.95M	906.01M	570.81M	568.75M	558.63M
Gross Profit	230.97M	218.01M	253.19M	139.15M	119.01M	164.34M
EBITDA	175.69M	160.75M	152.86M	94.45M	69.29M	114.27M
Net Income	55.94M	47.87M	55.35M	18.29M	-11.25M	19.41M
Balance Sheet
Total Assets	722.68M	669.42M	868.21M	533.00M	606.41M	622.88M
Cash, Cash Equivalents and Short-Term Investments	6.47M	14.62M	11.28M	5.40M	5.25M	17.30M
Total Debt	265.36M	220.28M	210.92M	165.99M	172.47M	146.94M
Total Liabilities	455.27M	411.22M	545.16M	310.15M	325.20M	294.37M
Stockholders Equity	267.40M	258.20M	323.05M	222.85M	281.20M	328.52M
Cash Flow
Free Cash Flow	54.83M	43.82M	10.01M	1.57M	11.77M	76.66M
Operating Cash Flow	152.96M	146.28M	161.19M	68.33M	67.37M	139.25M
Investing Cash Flow	-93.05M	-99.37M	-143.94M	-59.95M	-54.13M	-62.96M
Financing Cash Flow	-54.45M	-41.16M	-13.14M	-7.18M	-25.20M	-67.28M

Badger Infrastructure Solutions Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 58.17
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:BDGI, the sentiment is Positive. The current price of 58.17 is above the 20-day moving average (MA) of 56.70, above the 50-day MA of 54.31, and above the 200-day MA of 43.48, indicating a bullish trend. The MACD of 1.15 indicates Positive momentum. The RSI at 62.43 is Neutral, neither overbought nor oversold. The STOCH value of 69.58 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:BDGI.

Badger Infrastructure Solutions Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MTL	74 Outperform	C$1.21B	12.07	9.99%	6.07%	5.52%	-18.01%
WJX	73 Outperform	C$514.21M	14.37	6.93%	5.89%	2.19%	-48.80%
BDT	71 Outperform	C$1.55B	15.66	25.25%	2.84%	8.49%	14.10%
BDGI	67 Neutral	$1.96B	25.72	21.65%	1.26%	11.48%	38.41%
WTE	66 Neutral	C$1.57B	15.33	14.38%	5.89%	4.19%	-1.65%
ARE	66 Neutral	C$1.49B	58.90	2.78%	3.21%	20.53%	74.96%
Sector *	63 Neutral	$10.74B	15.33	7.44%	2.00%	2.86%	-14.57%

Badger Infrastructure Solutions Corporate Events

Badger Infrastructure Solutions Achieves Robust Growth in Q2 2025

Badger Infrastructure Solutions Ltd. reported a strong second quarter in 2025, with revenue increasing by 11% to $208.2 million and adjusted EBITDA rising by 18% compared to the previous year. The company continues to focus on margin expansion and profitability, demonstrating successful execution of its business strategies. The board has approved a quarterly cash dividend and plans to renew its normal course issuer bid, indicating confidence in its financial health and commitment to shareholder value.

The most recent analyst rating on (TSE:BDGI) stock is a Buy with a C$50.00 price target. To see the full list of analyst forecasts on Badger Infrastructure Solutions stock, see the TSE:BDGI Stock Forecast page.

Badger Infrastructure Solutions to Announce Q2 2025 Financial Results

Badger Infrastructure Solutions Ltd. has announced that it will release its second quarter 2025 financial results on July 30, 2025, after market close, with a conference call scheduled for the following day. This announcement is significant for investors and analysts as it provides insights into the company’s financial health and operational performance, potentially impacting its market positioning and stakeholder interests.

The most recent analyst rating on (TSE:BDGI) stock is a Buy with a C$54.00 price target. To see the full list of analyst forecasts on Badger Infrastructure Solutions stock, see the TSE:BDGI Stock Forecast page.