WSP Global Inc. (WSP.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

+282.1%

CA$750.91

vs CA$196.53 price

Levered DCF

CA$841.89

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

2.18

Grey zone

Rating

B+

Overall 3 / 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	33.67×	46.84×	42.12×	43.76×	45.12×	48.04×	32.6×	24.65×
P/B	3.3×	3.86×	3.66×	3.15×	4.59×	3.25×	2.8×	1.87×
P/S	1.78×	1.97×	1.6×	1.59×	2.08×	1.51×	1.05×	0.77×
EV / EBITDA	15.54×	19.66×	16.5×	17.87×	18.99×	15.38×	12.08×	12.74×
Gross margin	16.6%	16.1%	15.1%	14.3%	14.6%	13.2%	14.1%	15.9%
Operating margin	9.7%	8.9%	8.3%	7.6%	7.3%	6.3%	6.2%	5.8%
Net margin	5.3%	4.2%	3.8%	3.6%	4.6%	3.1%	3.2%	3.1%
Current ratio	1.27×	1.12×	1.15×	1.09×	1.14×	1.03×	1.07×	1.24×
Debt / equity	0.59×	0.7×	0.67×	0.68×	0.6×	0.39×	0.74×	0.47×
Interest coverage	5.84×	4.71×	4.79×	7.59×	9.36×	5.91×	4.34×	8.22×
Dividend yield	0.6%	0.6%	0.7%	0.5%	0.4%	0.7%	0.8%	1.3%
Payout ratio	20.3%	27.5%	29.5%	20.9%	17.0%	32.0%	27.1%	31.5%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	9.8%	8.2%	8.7%	7.2%	10.2%	6.8%	8.6%	7.6%
Return on invested capital	8.3%	7.1%	7.8%	6.3%	6.9%	6.5%	6.6%	6.7%
Return on assets	4.6%	3.4%	3.5%	2.9%	4.2%	3.1%	3.3%	3.2%
Free cash flow yield	5.8%	3.2%	2.8%	3.3%	4.3%	7.7%	6.8%	8.4%
Earnings yield	3.0%	2.1%	2.4%	2.3%	2.2%	2.1%	3.1%	4.1%
Enterprise value	CA$36.8B	CA$37.1B	CA$27B	CA$22.5B	CA$23.3B	CA$14.4B	CA$11.5B	CA$7.4B
Net debt / EBITDA	1.81×	2.74×	2.37×	2.85×	1.53×	1.23×	2.3×	2.18×
Cash conversion cycle (days)	89	107	85	93	77	83	85	93