Badger Infrastructure Solutions Ltd. (TSX:BDGI)

TSX:BDGI Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Cash & Equivalents	5.32	14.62	8.51	5.4	4.14	13.57
Cash & Short-Term Investments	5.32	14.62	8.51	5.4	4.14	13.57
Cash Growth	4.62%	71.70%	57.71%	30.48%	-69.52%	100.03%
Accounts Receivable	204.04	166.09	158.02	141.5	113.81	116.24
Other Receivables	-	4.86	7.72	-	10.66	4.26
Receivables	204.04	170.94	165.74	141.5	124.46	120.5
Inventory	13.64	11.7	13.33	25.21	10.7	7.33
Prepaid Expenses	15.93	8.51	8.52	9.55	5.74	6.7
Other Current Assets	15.16	0.51	3.42	-	-	-
Total Current Assets	254.09	206.29	199.53	181.66	145.04	148.11
Property, Plant & Equipment	485.34	437.67	405.83	328.32	308.35	315.4
Goodwill	1.17	1.13	1.23	1.2	1.28	1.27
Other Intangible Assets	26.97	24.34	23.6	21.83	23.65	24.07
Other Long-Term Assets	3.68	-	2.83	-	-	-
Total Assets	771.23	669.42	633.01	533	478.31	488.84
Accounts Payable	106.19	27.5	29.67	24.36	15.38	12.96
Accrued Expenses	31.14	70.78	69.15	54.49	52.86	49.19
Current Portion of Long-Term Debt	-	-	-	-	25	24.98
Current Portion of Leases	20.1	18.2	15.08	8.75	5.87	4.25
Current Income Taxes Payable	10.07	-	-	1.14	-	-
Other Current Liabilities	4.54	28.07	11.66	15.59	3.11	1.37
Total Current Liabilities	172.03	144.54	125.56	104.33	102.22	92.75
Long-Term Debt	207.72	170.03	163.69	138.88	95.62	78.4
Long-Term Leases	31.53	32.05	32.15	18.36	9.54	7.69
Long-Term Deferred Tax Liabilities	56.92	56	53.77	47.51	48.67	49.66
Other Long-Term Liabilities	10.27	8.6	12.85	1.07	0.46	2.52
Total Liabilities	478.47	411.22	388.02	310.15	256.5	231.02
Common Stock	65.78	65.84	66.95	66.95	66.95	61.88
Additional Paid-In Capital	0.42	0.42	0.42	0.42	0.42	0.43
Retained Earnings	232.21	196.71	183.39	159.33	158.5	180.51
Comprehensive Income & Other	-5.66	-4.77	-5.77	-3.86	-4.06	15
Shareholders' Equity	292.76	258.2	244.99	222.85	221.82	257.82
Total Liabilities & Equity	771.23	669.42	633.01	533	478.31	488.84
Total Debt	259.35	220.28	210.92	165.99	136.03	115.32
Net Cash (Debt)	-254.03	-205.66	-202.41	-160.59	-131.89	-101.74
Net Cash Per Share	-7.48	-5.97	-5.87	-4.66	-3.81	-2.92
Filing Date Shares Outstanding	33.74	34	34.47	34.47	34.47	34.85
Total Common Shares Outstanding	33.74	34.23	34.47	34.47	34.47	34.85
Working Capital	82.05	61.74	73.97	77.32	42.82	55.36
Book Value Per Share	8.68	7.54	7.11	6.46	6.43	7.40
Tangible Book Value	264.63	232.73	220.17	199.82	196.88	232.48
Tangible Book Value Per Share	7.84	6.80	6.39	5.80	5.71	6.67
Land	38.82	36.79	38.19	35.27	32.97	28.99
Machinery	736.45	677.57	630.16	554.26	530.04	507.26
Construction In Progress	34.38	22.15	19.81	17.17	12.96	15.98

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.