Badger Infrastructure Solutions Ltd. (TSX:BDGI)

TSX:BDGI Balance Sheet

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

Assets

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Equivalents	17.11	4.77	14.62	8.51	5.4	4.14
Cash & Short-Term Investments	17.11	4.77	14.62	8.51	5.4	4.14
Cash Growth	221.51%	-67.38%	71.70%	57.71%	30.48%	-69.52%
Accounts Receivable	246.34	177.95	166.09	158.02	141.5	113.81
Other Receivables	-	-	4.86	7.72	-	10.66
Receivables	246.34	177.95	170.94	165.74	141.5	124.46
Inventory	16.9	15.06	11.7	13.33	25.21	10.7
Prepaid Expenses	19.2	14.12	8.51	8.52	9.55	5.74
Other Current Assets	14.79	8.19	0.51	3.42	-	-
Total Current Assets	314.35	220.08	206.29	199.53	181.66	145.04
Property, Plant & Equipment	627.14	509.03	437.67	405.83	328.32	308.35
Goodwill	1.14	1.18	1.13	1.23	1.2	1.28
Other Intangible Assets	24.46	26.61	24.34	23.6	21.83	23.65
Other Long-Term Assets	7.66	5.88	-	2.83	-	-
Total Assets	974.75	762.78	669.42	633.01	533	478.31

Liabilities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Accounts Payable	48.4	32.11	27.5	29.67	24.36	15.38
Accrued Expenses	114.78	84.78	70.78	69.15	54.49	52.86
Current Portion of Long-Term Debt	-	-	-	-	-	25
Current Portion of Leases	26.25	22.19	18.2	15.08	8.75	5.87
Current Income Taxes Payable	0.1	0.54	-	-	1.14	-
Other Current Liabilities	25.57	21.49	28.07	11.66	15.59	3.11
Total Current Liabilities	215.08	161.11	144.54	125.56	104.33	102.22
Long-Term Debt	283.47	198.01	170.03	163.69	138.88	95.62
Long-Term Leases	58.84	38.34	32.05	32.15	18.36	9.54
Long-Term Deferred Tax Liabilities	66.89	53.9	56	53.77	47.51	48.67
Other Long-Term Liabilities	14.73	15.35	8.6	12.85	1.07	0.46
Total Liabilities	639.01	466.7	411.22	388.02	310.15	256.5

Shareholders' Equity

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Common Stock	65.65	65.78	65.84	66.95	66.95	66.95
Additional Paid-In Capital	0.42	0.42	0.42	0.42	0.42	0.42
Retained Earnings	269.16	236.14	196.71	183.39	159.33	158.5
Comprehensive Income & Other	0.52	-6.26	-4.77	-5.77	-3.86	-4.06
Shareholders' Equity	335.74	296.08	258.2	244.99	222.85	221.82
Total Liabilities & Equity	974.75	762.78	669.42	633.01	533	478.31

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Total Debt	368.56	258.54	220.28	210.92	165.99	136.03
Net Cash (Debt)	-351.44	-253.77	-205.66	-202.41	-160.59	-131.89
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-10.43	-7.50	-5.97	-5.87	-4.66	-3.81
Filing Date Shares Outstanding	33.66	33.74	34	34.47	34.47	34.47
Total Common Shares Outstanding	33.66	33.74	34.23	34.47	34.47	34.47
Working Capital	99.27	58.98	61.74	73.97	77.32	42.82
Book Value Per Share	9.97	8.78	7.54	7.11	6.46	6.43
Tangible Book Value	310.14	268.29	232.73	220.17	199.82	196.88
Tangible Book Value Per Share	9.21	7.95	6.80	6.39	5.80	5.71
Land	39.66	39.68	36.79	38.19	35.27	32.97
Machinery	885.47	768.8	677.57	630.16	554.26	530.04
Construction In Progress	39.36	29.53	22.15	19.81	17.17	12.96

Data Source: S&P Global Market Intelligence Last updated: Nov 5, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Nov 11, 2026

Data Sources Report a data error