Stantec Inc. (STN.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

+134.5%

CA$250.41

vs CA$106.79 price

Levered DCF

CA$344.18

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

3.26

Safe zone

Rating

A-

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	30.84×	35.58×	37.33×	29.09×	39.48×	28.87×	21.09×	19.81×
P/B	4.56×	4.37×	4.83×	3.15×	3.95×	2.39×	2.18×	1.78×
P/S	1.81×	2.19×	2.34×	1.61×	2.17×	1.25×	1.1×	1.01×
EV / EBITDA	16.13×	15.07×	15.72×	12.52×	17.85×	9.81×	9.46×	10.52×
Gross margin	39.0%	54.5%	54.2%	54.2%	54.0%	52.4%	54.1%	54.1%
Operating margin	9.2%	16.6%	16.6%	16.1%	14.8%	15.6%	15.5%	11.8%
Net margin	5.9%	6.2%	6.2%	5.5%	5.5%	4.6%	5.2%	1.4%
Current ratio	1.23×	1.29×	1.41×	1.37×	1.41×	1.59×	1.57×	1.9×
Debt / equity	0.97×	0.69×	0.69×	0.84×	0.96×	0.68×	0.84×	0.49×
Interest coverage	6.4×	8.21×	8.01×	9.09×	11.22×	9.9×	7.48×	10.46×
Dividend yield	0.7%	0.7%	0.7%	1.1%	0.9%	1.5%	1.6%	1.8%
Payout ratio	21.1%	26.0%	26.8%	31.7%	36.0%	39.7%	32.9%	129.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	14.8%	12.3%	12.9%	10.8%	10.0%	8.9%	10.4%	2.5%
Return on invested capital	9.5%	14.3%	14.8%	12.2%	9.7%	11.9%	11.3%	9.3%
Return on assets	6.0%	5.2%	5.5%	4.4%	3.8%	3.9%	4.3%	1.2%
Free cash flow yield	5.4%	3.9%	3.5%	3.3%	4.4%	12.4%	9.7%	1.4%
Earnings yield	3.2%	2.8%	2.7%	3.4%	2.5%	3.7%	4.7%	1.4%
Enterprise value	CA$17.5B	CA$14.7B	CA$13.2B	CA$9B	CA$9.6B	CA$5.6B	CA$5.4B	CA$4.2B
Net debt / EBITDA	2.52×	1.86×	1.61×	2.48×	3.2×	1.79×	2.34×	1.9×
Cash conversion cycle (days)	66	77	78	88	94	73	79	96