CGI Inc. (GIB-A.TO) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+191.1%

CA$335.72

vs CA$115.32 price

Levered DCF

CA$358.18

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

3.11

Safe zone

Rating

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	16.87×	20.97×	19.21×	16.96×	19.56×	21.17×	22.63×	20.84×
P/B	2.72×	3.76×	3.77×	3.42×	3.84×	3.26×	4.15×	3.56×
P/S	1.76×	2.42×	2.19×	1.93×	2.21×	1.95×	2.36×	2.07×
EV / EBITDA	11.22×	12.76×	11.9×	10.86×	11.91×	10.86×	13.86×	12.18×
Gross margin	20.7%	20.5%	20.1%	20.2%	20.6%	20.4%	18.8%	18.7%
Operating margin	20.6%	20.4%	20.0%	20.1%	20.5%	20.3%	18.7%	18.6%
Net margin	10.4%	11.5%	11.4%	11.4%	11.3%	9.2%	10.4%	9.9%
Current ratio	0.99×	1.36×	1.06×	1.19×	1.25×	1.35×	1.13×	1×
Debt / equity	0.43×	0.35×	0.45×	0.55×	0.6×	0.62×	0.34×	0.28×
Interest coverage	27.11×	32.82×	32.13×	27.66×	23.11×	20.98×	28.84×	30.11×
Dividend yield	0.5%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	8.1%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	16.1%	18.0%	19.6%	20.2%	19.6%	15.4%	18.3%	17.1%
Return on invested capital	15.7%	16.6%	17.0%	16.4%	15.7%	14.7%	17.3%	17.9%
Return on assets	8.5%	10.1%	10.3%	9.7%	9.1%	7.2%	10.0%	9.6%
Free cash flow yield	7.6%	5.9%	5.8%	6.3%	7.0%	7.2%	4.8%	5.3%
Earnings yield	5.9%	4.8%	5.2%	5.9%	5.1%	4.7%	4.4%	4.8%
Enterprise value	CA$31.6B	CA$37.3B	CA$33.5B	CA$27.9B	CA$29.3B	CA$26.5B	CA$30.7B	CA$25.5B
Net debt / EBITDA	1.28×	0.63×	0.77×	1.17×	1.03×	1.15×	0.96×	0.81×
Cash conversion cycle (days)	40	27	29	30	26	29	21	21