Badger Infrastructure Solutions Ltd (BDGI) - Net Assets

Latest as of September 2025: CA$292.76 Million CAD ≈ $211.78 Million USD

Based on the latest financial reports, Badger Infrastructure Solutions Ltd (BDGI) has net assets worth CA$292.76 Million CAD (≈ $211.78 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$771.23 Million ≈ $557.90 Million USD) and total liabilities (CA$478.47 Million ≈ $346.12 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check BDGI asset liquidity ratio to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	CA$292.76 Million
% of Total Assets	37.96%
Annual Growth Rate	8.95%
5-Year Change	0.27%
10-Year Change	33.55%
Growth Volatility	18.1

Badger Infrastructure Solutions Ltd - Net Assets Trend (1997–2024)

This chart illustrates how Badger Infrastructure Solutions Ltd's net assets have evolved over time, based on quarterly financial data. Also explore BDGI current and non-current assets for the complete picture of this company's asset base.

Annual Net Assets for Badger Infrastructure Solutions Ltd (1997–2024)

The table below shows the annual net assets of Badger Infrastructure Solutions Ltd from 1997 to 2024. For live valuation and market cap data, see Badger Infrastructure Solutions Ltd market capitalisation.

Year	Net Assets	Change
2024-12-31	CA$258.05 Million ≈ $186.67 Million	+6.09%
2023-12-31	CA$243.23 Million ≈ $175.95 Million	+8.09%
2022-12-31	CA$225.03 Million ≈ $162.79 Million	+2.04%
2021-12-31	CA$220.53 Million ≈ $159.52 Million	-14.31%
2020-12-31	CA$257.35 Million ≈ $186.16 Million	+3.62%
2019-12-31	CA$248.35 Million ≈ $179.65 Million	-7.70%
2018-12-31	CA$269.09 Million ≈ $194.65 Million	+6.24%
2017-12-31	CA$253.28 Million ≈ $183.22 Million	+22.70%
2016-12-31	CA$206.43 Million ≈ $149.33 Million	+6.84%
2015-12-31	CA$193.22 Million ≈ $139.77 Million	-4.76%
2014-12-31	CA$202.87 Million ≈ $146.75 Million	+19.54%
2013-12-31	CA$169.71 Million ≈ $122.76 Million	+21.25%
2012-12-31	CA$139.96 Million ≈ $101.25 Million	+59.21%
2011-12-31	CA$87.91 Million ≈ $63.60 Million	+16.60%
2010-12-31	CA$75.40 Million ≈ $54.54 Million	+8.80%
2009-12-31	CA$69.30 Million ≈ $50.13 Million	+13.47%
2008-12-31	CA$61.07 Million ≈ $44.18 Million	+2.92%
2007-12-31	CA$59.34 Million ≈ $42.93 Million	+26.61%
2006-12-31	CA$46.87 Million ≈ $33.90 Million	+7.32%
2005-12-31	CA$43.67 Million ≈ $31.59 Million	+14.62%
2004-12-31	CA$38.10 Million ≈ $27.56 Million	-1.51%
2003-12-31	CA$38.69 Million ≈ $27.98 Million	+11.66%
2002-12-31	CA$34.65 Million ≈ $25.06 Million	+1.50%
2001-12-31	CA$34.13 Million ≈ $24.69 Million	-18.07%
2000-12-31	CA$41.66 Million ≈ $30.14 Million	+2.62%
1999-12-31	CA$40.60 Million ≈ $29.37 Million	-4.02%
1998-12-31	CA$42.30 Million ≈ $30.60 Million	+65.88%
1997-12-31	CA$25.50 Million ≈ $18.45 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Badger Infrastructure Solutions Ltd's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have grown by 7181.1% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2024)

Component	Amount	Percentage
Retained Earnings	CA$196.59 Million	76.18%
Common Stock	CA$65.80 Million	25.50%
Other Comprehensive Income	CA$-4.77 Million	-1.85%
Other Components	CA$421.75K	0.16%
Total Equity	CA$258.05 Million	100.00%

Badger Infrastructure Solutions Ltd Competitors by Market Cap

The table below lists competitors of Badger Infrastructure Solutions Ltd ranked by their market capitalization.

Company	Market Cap
Punjab & Sind Bank NSE:PSB	$1.91 Billion
Neinor Homes SLU MC:HOME	$1.91 Billion
Pitney Bowes Inc NYSE:PBI	$1.91 Billion
Getac Technology Corp TW:3005	$1.91 Billion
Harbin Boshi Automation Co Ltd SHE:002698	$1.91 Billion
Hammond Power Solutions Inc TO:HPS-A	$1.91 Billion
Soitec SA PA:SOI	$1.91 Billion
Guizhou Aviation Technical Development Co Ltd SHG:688239	$1.91 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Badger Infrastructure Solutions Ltd's equity between the two most recent reporting periods.

Equity Growth Insights

From 2023 to 2024, total equity changed from 243,231,965 to 258,046,417, a change of 14,814,452 (6.1%).
Net income of 47,826,558 contributed positively to equity growth.
Dividend payments of 17,129,089 reduced retained earnings.
Share repurchases of 5,786,172 reduced equity.
Other comprehensive income increased equity by 958,361.
Other factors decreased equity by 11,055,206.

Equity Change Factors (2023 to 2024)

Factor	Impact	Contribution
Net Income	CA$47.83 Million	+18.53%
Dividends Paid	CA$17.13 Million	-6.64%
Share Repurchases	CA$5.79 Million	-2.24%
Other Comprehensive Income	CA$958.36K	+0.37%
Other Changes	CA$-11.06 Million	-4.28%
Total Change	CA$-	6.09%

Book Value vs Market Value Analysis

This analysis compares Badger Infrastructure Solutions Ltd's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 10.47x
The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
The price-to-book ratio has decreased from 59.65x to 10.47x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
1997-12-31	CA$1.31	CA$78.36	x
1998-12-31	CA$1.68	CA$78.36	x
1999-12-31	CA$1.43	CA$78.36	x
2000-12-31	CA$1.35	CA$78.36	x
2001-12-31	CA$1.13	CA$78.36	x
2002-12-31	CA$1.15	CA$78.36	x
2003-12-31	CA$1.28	CA$78.36	x
2004-12-31	CA$1.19	CA$78.36	x
2005-12-31	CA$1.36	CA$78.36	x
2006-12-31	CA$1.45	CA$78.36	x
2007-12-31	CA$1.83	CA$78.36	x
2008-12-31	CA$1.88	CA$78.36	x
2009-12-31	CA$2.14	CA$78.36	x
2010-12-31	CA$2.32	CA$78.36	x
2011-12-31	CA$2.70	CA$78.36	x
2012-12-31	CA$4.01	CA$78.36	x
2013-12-31	CA$4.59	CA$78.36	x
2014-12-31	CA$5.48	CA$78.36	x
2015-12-31	CA$5.21	CA$78.36	x
2016-12-31	CA$5.56	CA$78.36	x
2017-12-31	CA$6.83	CA$78.36	x
2018-12-31	CA$7.26	CA$78.36	x
2019-12-31	CA$6.93	CA$78.36	x
2020-12-31	CA$7.38	CA$78.36	x
2021-12-31	CA$6.37	CA$78.36	x
2022-12-31	CA$6.53	CA$78.36	x
2023-12-31	CA$7.06	CA$78.36	x
2024-12-31	CA$7.49	CA$78.36	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Badger Infrastructure Solutions Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 18.53%
The company demonstrates strong efficiency in generating profits from shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 6.43%
• Asset Turnover: 1.07x
• Equity Multiplier: 2.70x
Recent ROE (18.53%) is above the historical average (15.22%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
1997	8.63%	8.43%	0.50x	2.03x	CA$-350.00K
1998	17.02%	9.49%	0.95x	1.88x	CA$2.97 Million
1999	-28.82%	-19.90%	0.72x	2.01x	CA$-15.76 Million
2000	3.37%	1.82%	0.92x	2.01x	CA$-2.76 Million
2001	-15.75%	-9.25%	0.98x	1.73x	CA$-8.79 Million
2002	1.48%	1.03%	0.83x	1.73x	CA$-2.95 Million
2003	10.29%	6.25%	1.06x	1.55x	CA$110.77K
2005	33.85%	17.74%	1.30x	1.46x	CA$10.41 Million
2006	35.20%	16.77%	1.27x	1.65x	CA$11.81 Million
2007	28.18%	14.21%	1.05x	1.90x	CA$10.79 Million
2008	31.08%	12.80%	1.09x	2.22x	CA$12.87 Million
2009	28.36%	14.56%	1.02x	1.91x	CA$12.72 Million
2010	24.62%	13.30%	0.92x	2.01x	CA$11.02 Million
2011	29.35%	13.29%	1.04x	2.12x	CA$17.01 Million
2012	20.04%	11.73%	1.04x	1.64x	CA$14.05 Million
2013	23.59%	12.43%	0.96x	1.98x	CA$23.07 Million
2014	23.68%	12.58%	0.94x	2.01x	CA$27.75 Million
2015	14.38%	9.51%	0.90x	1.69x	CA$8.46 Million
2016	10.36%	7.15%	0.88x	1.65x	CA$743.31K
2017	20.44%	13.26%	0.98x	1.57x	CA$26.45 Million
2018	19.95%	11.02%	1.10x	1.65x	CA$26.77 Million
2019	18.06%	9.13%	0.98x	2.02x	CA$20.03 Million
2020	7.53%	4.43%	0.88x	1.94x	CA$-6.35 Million
2021	-3.93%	-1.92%	0.92x	2.21x	CA$-30.72 Million
2022	8.13%	3.20%	1.03x	2.47x	CA$-4.21 Million
2023	23.18%	6.11%	1.41x	2.69x	CA$32.05 Million
2024	18.53%	6.43%	1.07x	2.70x	CA$22.02 Million

Industry Comparison

This section compares Badger Infrastructure Solutions Ltd's net assets metrics with peer companies in the Engineering & Construction industry.

Industry Context

Industry: Engineering & Construction
Average net assets among peers: $110,004,438
Average return on equity (ROE) among peers: -30.88%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Badger Infrastructure Solutions Ltd (BDGI)	CA$292.76 Million	8.63%	1.63x	$1.91 Billion
Aecon Group Inc. (ARE)	$102.96 Million	-40.43%	3.42x	$1.96 Billion
AtkinsRealis Group Inc (ATRL)	$237.70 Million	15.57%	3.15x	$11.31 Billion
Bird Construction Inc. (BDT)	$53.27 Million	62.72%	5.41x	$1.68 Billion
DIRTT Environmental Solutions Ltd. (DRT)	$67.77 Million	-79.20%	1.94x	$111.02 Million
Minaean SP Construction Corp (MSP)	$792.49K	-150.68%	0.81x	$6.16 Million
Global Power Solutions Corp. (PWER)	$-464.21K	0.00%	0.00x	$5.28 Million
Reco International Group Inc (RGI)	$344.66K	-112.19%	2.00x	$359.06K
Stantec Inc (STN)	$26.30 Million	16.35%	1.02x	$10.26 Billion
WSP Global Inc (WSP)	$501.37 Million	9.98%	0.45x	$22.14 Billion

About Badger Infrastructure Solutions Ltd

TO:BDGI Canada Engineering & Construction

Market Cap

$1.91 Billion

CA$2.64 Billion CAD

Market Cap Rank

#6438 Global

#207 in Canada

Share Price

CA$78.36

Change (1 day)

+19.27%

52-Week Range

CA$40.39 - CA$81.94

All Time High

CA$81.94