Calian Group (CGY) AI Stock Analysis

• Market Cap: C$668.39M
• Dividend Yield: 1.98%
• Average Volume (3M): 18.08K
• Price to Earnings (P/E): 33.0
• Beta (1Y): 1.22
• Revenue Growth: 3.69%
• EPS Growth: 92.38%
• Country: CA
• Employees: 4,000
• Sector: Industrials
• Sector Strength: 72
• Industry: Specialty Business Services
• EPS (TTM): 1.00
• Shares Outstanding: 11,414,163
• 10 Day Avg. Volume: 19,482
• 30 Day Avg. Volume: 18,078
• PEG Ratio: 0.00
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$64.00
• Price Target Upside: 8.05% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 71 Outperform
• Price Target: C$67.00 ▲(13.12% Upside)

Calian Group's strong earnings call and positive growth outlook are the most significant factors driving the score. However, financial performance challenges and technical indicators suggesting overbought conditions temper the overall score.

Positive Factors

Revenue Growth

Record revenue growth, driven by strong performance in the defense sector, indicates robust demand and effective market positioning, supporting long-term expansion.

Strategic Acquisitions

Acquisitions enhance Calian's market position and capabilities, particularly in defense and healthcare, supporting sustained growth and competitive advantage.

Cash Generation

Strong cash flow generation and efficient working capital management provide financial flexibility for investments and shareholder returns, underpinning long-term stability.

Negative Factors

Rising Debt Levels

Increased leverage could strain financial flexibility and elevate risk if not managed properly, potentially impacting long-term financial health.

ITCS Segment Underperformance

Underperformance in the ITCS segment affects profitability and highlights operational challenges that could impede growth if not addressed.

Challenges in Organic Growth

Negative organic growth reflects challenges in adapting to market changes, which could hinder long-term revenue expansion if persistent.

Calian Group Business Overview & Revenue Model

Company Description

Calian Group Ltd. provides business services and solutions in the areas of health, defense, security, aerospace, engineering, AgTech, and information technology (IT) in Canada, the United States, and Europe. The company's Advanced Technologies segment offers developed products and engineering solutions for the space, communications, nuclear, agriculture, defense, automotive, and government sectors; software and product development, custom manufacturing, full life-cycle support, studies, requirements analysis, project management, multi-discipline engineered system solutions, and training services; communication systems and products for terrestrial and satellite networks; satellite gateways comprising aperture radio frequency antennas, and telemetry tracking and control, as well as software solutions for managing and monitoring networks; engineering and technical services for propulsion, electrical and electronic systems, computer and nuclear systems, naval architecture, and aerospace; and nuclear services to develop waste management and decommissioning solutions. Its Health segment offers primary care and occupational health services; and clinic management, healthcare practitioner support, and psychological assessment services. The company's Learning segment provides training services and solutions; and consulting services in emergency management, training, and advanced training technologies, as well as Calian MaestroEDE, a tool for collective training exercises for military customers; and Calian ResponseReady, an online platform and simulation tool for emergency management training exercise delivery and evaluation. Its IT segment provides cloud migration, IT development, SAP consulting, and cyber security solutions, as well as IT support services. The company was formerly known as Calian Technologies Ltd. and changed its name to Calian Group Ltd. in April 2016. The company was incorporated in 1982 and is headquartered in Ottawa, Canada.

How the Company Makes Money

Calian generates revenue through a diverse array of streams. Primarily, the company earns income from its professional services divisions, which include healthcare staffing and IT support services. The healthcare division provides personnel to hospitals and clinics, while the IT sector offers cybersecurity and technology solutions to both public and private entities. Additionally, Calian's engineering and training services contribute significantly to its revenue, with contracts often awarded by government agencies and large corporations. Strategic partnerships with both public sector clients and private industry players also enhance its market reach and profitability. The company's ability to secure long-term contracts and maintain a robust pipeline of projects is crucial for sustaining its earnings.

Calian Group Financial Statement Overview

Summary

Calian Group shows solid revenue growth and improved gross profit margins, but faces challenges in net profitability and cash flow management. The balance sheet indicates increased leverage, which could pose a risk if not managed properly.

Income Statement

Calian Group has shown consistent revenue growth over the years, with a 2.93% increase in the latest period. The gross profit margin has improved from 24.45% in 2021 to 33.50% in 2025, indicating better cost management. However, the net profit margin remains relatively low at 2.66% in 2025, suggesting room for improvement in profitability. The EBIT and EBITDA margins have also seen fluctuations, reflecting some operational challenges.

Balance Sheet

The company's debt-to-equity ratio increased to 0.54 in 2025, indicating higher leverage compared to previous years. Despite this, the return on equity has improved to 6.40%, showing effective use of shareholder funds. The equity ratio remains stable, suggesting a balanced capital structure. However, the rising debt levels could pose a risk if not managed properly.

Cash Flow

Calian Group's free cash flow has decreased by 28.43% in the latest period, which is a concern. The operating cash flow to net income ratio is 2.21, indicating strong cash generation relative to net income. However, the free cash flow to net income ratio has declined, reflecting challenges in maintaining cash flow growth. The company needs to focus on improving its cash flow management.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	774.11M	774.11M	746.61M	658.58M	582.17M	518.40M
Gross Profit	259.29M	259.29M	254.01M	204.21M	169.23M	126.74M
EBITDA	80.79M	80.79M	70.78M	59.27M	56.06M	37.59M
Net Income	20.56M	20.56M	11.18M	18.89M	13.60M	11.15M
Balance Sheet
Total Assets	721.50M	721.50M	707.92M	585.72M	547.16M	457.97M
Cash, Cash Equivalents and Short-Term Investments	46.10M	46.10M	51.79M	33.73M	42.65M	78.61M
Total Debt	174.20M	174.20M	129.19M	74.76M	26.54M	17.48M
Total Liabilities	400.22M	400.22M	381.17M	257.35M	241.98M	165.61M
Stockholders Equity	321.28M	321.28M	326.75M	328.37M	305.19M	292.36M
Cash Flow
Free Cash Flow	34.84M	34.84M	75.42M	48.34M	35.82M	38.69M
Operating Cash Flow	45.43M	45.43M	87.22M	56.77M	43.14M	46.54M
Investing Cash Flow	-49.69M	-49.69M	-99.67M	-79.62M	-72.89M	-56.61M
Financing Cash Flow	-1.43M	-1.43M	30.50M	13.94M	-6.21M	64.44M

Calian Group Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 59.23
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:CGY, the sentiment is Positive. The current price of 59.23 is above the 20-day moving average (MA) of 57.28, above the 50-day MA of 54.10, and above the 200-day MA of 49.05, indicating a bullish trend. The MACD of 1.06 indicates Negative momentum. The RSI at 63.28 is Neutral, neither overbought nor oversold. The STOCH value of 86.88 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:CGY.

Calian Group Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TCL.A	74 Outperform	C$1.93B	11.28	8.95%	8.32%	-2.45%	44.20%
DXT	73 Outperform	C$778.16M	19.52	14.38%	3.02%	-0.73%	221.74%
KBL	71 Outperform	C$442.66M	20.70	8.30%	3.43%	26.29%	-6.47%
CGY	71 Outperform	C$668.39M	33.02	6.36%	1.98%	3.69%	92.38%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
GDI	61 Neutral	C$853.41M	20.37	8.55%	―	-2.83%	179.03%
DCM	54 Neutral	C$103.84M	9.87	26.87%	5.99%	-7.01%	―

Calian Group Corporate Events

Calian Group Reports Strong Q4 Growth, Positions for Future Success

Calian Group Ltd. reported a 12% increase in fourth-quarter revenues, driven by a balanced mix of organic growth and acquisitions. The company saw a significant 15% growth in its defence solutions, contributing to a 4% revenue increase for the full year 2025. Despite challenges in the ITCS segment, Calian maintained a double-digit adjusted EBITDA margin and took decisive actions to improve this segment’s performance. With a robust backlog and strong acquisition pipeline, Calian is well-positioned for a successful fiscal year 2026.

The most recent analyst rating on (TSE:CGY) stock is a Hold with a C$53.00 price target. To see the full list of analyst forecasts on Calian Group stock, see the TSE:CGY Stock Forecast page.

Calian Secures Contract for Advanced Satellite Ground Stations

Calian Group Ltd. has secured a contract to design and manufacture four Ka/Q/V-band RF gateway ground stations for two geostationary satellites. This project will enhance secure, high-capacity government communications across Africa, Europe, and Asia, reinforcing Calian’s position as a leader in advanced ground satellite solutions and highlighting the strength of Canadian engineering in meeting demanding technical requirements.

The most recent analyst rating on (TSE:CGY) stock is a Hold with a C$53.00 price target. To see the full list of analyst forecasts on Calian Group stock, see the TSE:CGY Stock Forecast page.

Calian Group to Discuss Q4 and FY 2025 Results in Upcoming Conference Call

Calian Group Ltd. announced it will hold a conference call on November 26, 2025, to discuss its fourth-quarter and full-year 2025 financial results, which will be released earlier that day. This announcement is significant for stakeholders as it provides insights into the company’s financial health and strategic positioning in its critical sectors, potentially impacting investor confidence and market perception.

The most recent analyst rating on (TSE:CGY) stock is a Hold with a C$53.00 price target. To see the full list of analyst forecasts on Calian Group stock, see the TSE:CGY Stock Forecast page.

Calian Group Partners with TACTIQL to Enhance Canadian Defence Capabilities

Calian Group has announced its first partnership under Calian VENTURES with TACTIQL Inc. to develop next-generation intelligence, surveillance, and reconnaissance (ISR) capabilities for the Canadian Armed Forces and allied partners. This collaboration aims to enhance interoperability, situational awareness, and decision-making speed in military operations, leveraging TACTIQL’s innovative FULCRUM platform and Calian’s extensive defence integration experience. The partnership is expected to strengthen Canada’s defence industrial base and contribute to the country’s economic prosperity by creating exportable solutions.

The most recent analyst rating on (TSE:CGY) stock is a Hold with a C$53.00 price target. To see the full list of analyst forecasts on Calian Group stock, see the TSE:CGY Stock Forecast page.

Calian Group Accelerates Board Renewal and Strategic Focus Following Plantro Agreement

Calian Group Ltd. has entered into a cooperation agreement with Plantro Ltd., one of its largest shareholders, to accelerate its board renewal process and enhance focus on non-core asset divestitures. This strategic move aims to position the company for future growth, particularly in the defense sector, by forming a special committee to oversee non-core asset actions and engaging a professional search firm to identify new board candidates. The changes reflect Calian’s commitment to constructive engagement with shareholders and are expected to unlock value for stakeholders.

The most recent analyst rating on (TSE:CGY) stock is a Hold with a C$53.00 price target. To see the full list of analyst forecasts on Calian Group stock, see the TSE:CGY Stock Forecast page.

Calian Group Enhances Ottawa Airport’s Cybersecurity with New SOC Contract

Calian Group Ltd. has secured a three-year contract with the Ottawa International Airport Authority to implement and manage a cyber-focused Security Operations Centre (SOC). This initiative is part of the airport’s strategy to enhance its cybersecurity capabilities, reflecting a forward-thinking approach to protecting both physical and virtual environments. The partnership builds on a successful IT modernization project and represents a shift towards leveraging advanced systems to support future growth. Calian’s tailored, expert-driven SOC solutions are designed to provide seamless protection, enabling clients to focus on their core operations with confidence in their security posture.

The most recent analyst rating on (TSE:CGY) stock is a Hold with a C$56.00 price target. To see the full list of analyst forecasts on Calian Group stock, see the TSE:CGY Stock Forecast page.