Fact based stock research
Badger (TSX:BAD)

CA0565331026

How to read the free ranks

For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).

(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.

Badger stock research in summary

badgerinc.com

ANALYSIS: With an Obermatt Combined Rank of 67 (better than 67% compared with investment alternatives), Badger (Construction & Engineering, Canada) shares have above-average financial characteristics compared with similar stocks. Shares of Badger are a good value (attractively priced) with a consolidated Value Rank of 63 (better than 63% of alternatives), show above-average growth (Growth Rank of 87) but are riskily financed (Safety Rank of 22), which means above-average debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 67, is a buy recommendation based on Badger's financial characteristics. As the company Badger's key financial metrics exhibit excellent performance in two areas, such as good value (Obermatt Value Rank of 63) and above-average growth (Obermatt Growth Rank of 87), it could be argued that the risk-taking in financing (Obermatt Safety Rank of only 22) indicates that the company is optimistic about the future and sees debt as an opportunity to boost returns. More debt means more shareholder returns if everything goes well. However, higher debt burdens are risky when interest rates rise or the business deteriorates in a crisis. If you believe the company's future is market-typical or even better, this could be an argument for a share purchase. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

Latest Obermatt Ranks


360° View^new
Sentiment Rank^new
Value Rank	63
Growth Rank	87
Safety Rank	22
Combined Rank	67

Country	Canada
Industry	Construction & Engineering
Index	TSX Composite
Size class	Small

31-Jul-2025. Stock data may be delayed. Log in or sign up to get the most recent research.

Further information

Multiple opinions. One number.

Analysts rarely agree on a stock’s future. So, who do you believe? Obermatt translates those collective views into a single Sentiment Rank. That plus the financial ranks give you the ultimate 360° View. Sign up to access them.

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Review the performance ranks of the individual metrics that form each investment strategy.

Research History: Badger

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	47	24	75	63
GROWTH
GROWTH	52	100	41	87
SAFETY
SAFETY	13	23	11	22
SENTIMENT
SENTIMENT	83	57	69	^new
360° VIEW
360° VIEW	41	38	35	^new

Most recent update of the stock research: 31-Jul-2025. Financial reporting date used for calculating ranks: 31-Mar-2025. Stock research history is based on the Obermatt Method. The higher the rank, the better Badger is in the corresponding investment strategy.
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Combined financial peformance in Detail

RESEARCH HISTORY	2022	2023	2024	2025
VALUE
VALUE	47	24	75	63
GROWTH
GROWTH	52	100	41	87
SAFETY
SAFETY	13	23	11	22
COMBINED
COMBINED	22	27	18	67

Last update of combined financial performance: 31-Jul-2025. Stock analysis on combined financial performance: The higher the rank of Badger the better the performance.

Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 63 (better than 63% compared with alternatives), Badger shares are more attractively priced than the majority of comparable stocks. The Value Rank is based on consolidating four value indicators, with half of the indicators below and half above average for Badger. Price-to-Profit (also referred to as price-earnings, P/E) is 69 which means that the stock price compared with what market professionals expect for future profits is lower than for 69% of comparable companies, indicating a good value concerning Badger's profit levels. The same is valid for Price-to-Book Capital (also referred to as market-to-book ratio) with a Price-to-Book Rank of 32, which means that the stock price is lower as regards to invested capital than for 32% of comparable investments. On the other hand, Price-to-Sales is less favorable than 52% of alternatives (only 48% of peers have an even less favorable ratio). The same is valid for dividend yield, which is lower than 34% of comparable companies, making the stock more expensive as regards to the company's expected dividend payouts. ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 63, is a buy recommendation based on Badger's stock price compared with the company's operational size and dividend yields. This is a puzzling picture, because it means that profits are high while dividends are low. Since the stock price is low compared with invested capital but high in respect to expected revenues, it means that the company has more invested capital than peers for generating the same amount of revenue. Since profits are higher, it could be a "cash cow" situation (using the classic Boston Consulting BCG matrix naming convention) where the company is on a downward trend, still living from the profits of past products. As the company pays low dividends, it may harbor the opinion that a turnaround is possible, and it rather invests the cash than pay it out to shareholders, thus sealing the company's fate early. Any investment optimism should only be a buy trigger once thorough research is completed. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision, which is especially important in this case, as the financial indicators are inconclusive. ...read more

VALUE METRICS	2022	2023	2024	2025
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)	32	31	53	48
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)	69	35	81	69
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)	20	20	38	32
DIVIDEND YIELD
DIVIDEND YIELD	85	82	83	66
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE	47	24	75	63

Last update of Value Rank: 31-Jul-2025. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Badger; except for dividend yield where the rank is higher, the higher the yield.

Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 87 (better than 87% compared with alternatives) for 2025, Badger shows one of the highest growth dynamics in its industry. Investors also speak of high momentum. The Growth Rank is based on consolidating four value indicators, with all but one indicator above average for Badger. Sales Growth has a rank of 74 which means that currently, professionals expect the company to grow more than 74% of its competitors. Both Profit Growth, with a rank of 86, and Stock Returns, with a rank of 81, are also above average. But Capital Growth only has a rank of 36, which means that, currently, professionals expect the company to grow its invested capital less than 64% of its competitors. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 87, is a buy recommendation for growth and momentum investors. That may be a good sign if the company is already well positioned and doesn't require more investments at this time. They may focus on growing the top (revenues) and bottom (profits) lines, recently rewarded with above-average stock returns for shareholders. But it may also be a sign of danger as the company is falling back with capital investment activities concerning competition. This requires further analysis of corporate communications. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case. ...read more

GROWTH METRICS	2022	2023	2024	2025
REVENUE GROWTH
REVENUE GROWTH	74	75	70	74
PROFIT GROWTH
PROFIT GROWTH	4	92	64	86
CAPITAL GROWTH
CAPITAL GROWTH	95	87	39	36
STOCK RETURNS
STOCK RETURNS	25	85	29	81
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH	52	100	41	87

Last update of Growth Rank: 31-Jul-2025. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Badger.

Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 22 (better than 22% compared with alternatives), the company Badger has much riskier financing practices than comparable other companies, which means that their overall debt burden is significantly above the industry average. This doesn't mean that the business of Badger is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with all three metrics below average for Badger. Liquidity is at 38, meaning that the company generates less profit to service its debt than 62% of its competitors. This indicates that the company is on the riskier side when it comes to debt service. Even worse, Leverage is at a rank of 28, meaning the company has an above-average debt-to-equity ratio. It has more debt than 72% of its competitors. Finally, Refinancing is at a rank of 32 which means that the portion of the debt about to be refinanced is above average. It has more debt in the refinancing stage than 68% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 22 (worse than 78% compared with alternatives), Badger has a financing structure that is significantly riskier than that of its competitors. This combination is rather dangerous in most situations. Only very promising companies with bright future outlooks and stellar reputations can operate with such risky financing. Investors should look at Obermatt’s Value, Growth, and Sentiment Ranks to confirm a very positive outlook or be careful with investing in stocks of Badger because it may suffer significantly in case of future difficulties. ...read more

SAFETY METRICS	2022	2023	2024	2025
LEVERAGE
LEVERAGE	48	38	24	28
REFINANCING
REFINANCING	12	25	31	32
LIQUIDITY
LIQUIDITY	37	37	42	38
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY	13	23	11	22

Last update of Safety Rank: 31-Jul-2025. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Badger and the more cash is available to service its debt.

Sentiment Metrics in Detail

SENTIMENT	2022	2023	2024	2025
ANALYST OPINIONS
ANALYST OPINIONS	n/a	13	51	^new
OPINIONS CHANGE
OPINIONS CHANGE	50	50	50	^new
PRO HOLDINGS
PRO HOLDINGS	85	72	55	^new
MARKET PULSE
MARKET PULSE	74	87	92	^new
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT	83	57	69	^new

Last update of Sentiment Rank: 31-Jul-2025. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Badger.
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