Badger Infrastructure Solutions (TSX:BDGI) Cyclically Adjusted PS Ratio: 3.41 (As of Jul. 30, 2026) — 19% Above Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

TSX:BDGI Badger Infrastructure Solutions Ltd TSX:BDGI
93 GF Score
Price C$80.88
GF Value C$56.81
Valuation Significantly Overvalued
! 7 Warning Signs
View Full Analysis

What is Badger Infrastructure Solutions Cyclically Adjusted PS Ratio?

Badger Infrastructure Solutions TSX:BDGI -8.37% 93 Cyclically Adjusted PS Ratio is 3.41 as of Jul. 30, 2026, which is 19% above its 10-year median of 2.86. GuruFocus rates TSX:BDGI with a GF Score™ of 93/100 and a GF Value™ of C$56.81 (Significantly Overvalued). The stock has 7 warning signs investors should review. Among 1,359 Construction companies, Badger Infrastructure Solutions ranks worse than 91.02% on this metric.

As of today (2026-07-30), Badger Infrastructure Solutions's current share price is C$80.88. Badger Infrastructure Solutions's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 was C$23.69. Badger Infrastructure Solutions's Cyclically Adjusted PS Ratio for today is 3.41.

The historical rank and industry rank for Badger Infrastructure Solutions's Cyclically Adjusted PS Ratio or its related term are showing as below:

TSX:BDGI' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 1.5   Med: 2.86   Max: 4.8
Current: 4.15

During the past years, Badger Infrastructure Solutions's highest Cyclically Adjusted PS Ratio was 4.80. The lowest was 1.50. And the median was 2.86.

TSX:BDGI's Cyclically Adjusted PS Ratio is ranked worse than
91.02% of 1359 companies
in the Construction industry
Industry Median: 0.7 vs TSX:BDGI: 4.15

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.

Badger Infrastructure Solutions's adjusted revenue per share data for the three months ended in Mar. 2026 was C$8.267. Add all the adjusted revenue per share for the past 10 years together and divide 10 will get our Cyclically Adjusted Revenue per Share, which is C$23.69 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


Badger Infrastructure Solutions  (TSX:BDGI) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


Badger Infrastructure Solutions Cyclically Adjusted PS Ratio Related Terms


Badger Infrastructure Solutions Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Badger Infrastructure Solutions's Cyclically Adjusted PS Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Badger Infrastructure Solutions Cyclically Adjusted PS Ratio Chart

Badger Infrastructure Solutions Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2.26 1.64 2.21 1.77 3.20

Badger Infrastructure Solutions Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Cyclically Adjusted PS Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.85 2.20 2.76 3.20 2.62

TSX:BDGI vs PWR, FIX, EME: Cyclically Adjusted PS Ratio Comparison

For the Engineering & Construction subindustry, Badger Infrastructure Solutions's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Badger Infrastructure Solutions Cyclically Adjusted PS Ratio vs Construction Industry

For the Construction industry and Industrials sector, Badger Infrastructure Solutions's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Badger Infrastructure Solutions's Cyclically Adjusted PS Ratio falls into.


TSX:BDGI
93GF Score
Badger Infrastructure Solutions Ltd TSX:BDGI
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Badger Infrastructure Solutions Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

Badger Infrastructure Solutions's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=80.88/23.69
=3.41

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Badger Infrastructure Solutions's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Badger Infrastructure Solutions's adjusted Revenue per Share data for the three months ended in Mar. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=8.267/132.2623*132.2623
=8.267

Current CPI (Mar. 2026) = 132.2623.

Badger Infrastructure Solutions Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 2.471 102.002 3.204
201609 3.041 101.765 3.952
201612 2.791 101.449 3.639
201703 2.710 102.634 3.492
201706 3.408 103.029 4.375
201709 3.759 103.345 4.811
201712 3.478 103.345 4.451
201803 3.255 105.004 4.100
201806 3.969 105.557 4.973
201809 4.587 105.636 5.743
201812 4.127 105.399 5.179
201903 4.012 106.979 4.960
201906 4.551 107.690 5.589
201909 5.181 107.611 6.368
201912 5.012 107.769 6.151
202003 3.856 107.927 4.725
202006 3.829 108.401 4.672
202009 4.448 108.164 5.439
202012 4.347 108.559 5.296
202103 3.091 110.298 3.707
202106 3.875 111.720 4.588
202109 4.998 112.905 5.855
202112 4.513 113.774 5.246
202203 4.192 117.646 4.713
202206 5.354 120.806 5.862
202209 6.326 120.648 6.935
202212 5.873 120.964 6.422
202303 5.685 122.702 6.128
202306 6.625 124.203 7.055
202309 7.676 125.230 8.107
202312 6.738 125.072 7.125
202403 6.344 126.258 6.646
202406 7.428 127.522 7.704
202409 8.230 127.285 8.552
202412 7.764 127.364 8.063
202503 7.277 129.181 7.451
202506 8.427 129.892 8.581
202509 9.731 130.287 9.879
202512 8.730 130.366 8.857
202603 8.267 132.262 8.267

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

What does a Cyclically Adjusted PS Ratio of 3.41 mean?
Badger Infrastructure Solutions (TSX:BDGI) has a Cyclically Adjusted PS Ratio of 3.41 as of Jul. 30, 2026. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on Badger Infrastructure Solutions and its competitors. This is 19% above median its historical median of 2.86. Over the past decade, Badger Infrastructure Solutions' Cyclically Adjusted PS Ratio has ranged from 1.50 to 4.80. According to the industry distribution chart, Badger Infrastructure Solutions ranks #1237 out of 1359 companies in the Construction industry, placing it in the top 91%.
Is Badger Infrastructure Solutions' Cyclically Adjusted PS Ratio too high?
Badger Infrastructure Solutions' current Cyclically Adjusted PS Ratio of 3.41 is 19% above median its 10-year median of 2.86. Over the past 10 years, this metric has ranged from a low of 1.50 to a high of 4.80. The Construction industry median Cyclically Adjusted PS Ratio is 0.70. Badger Infrastructure Solutions' value of 3.41 is 387.1% above this industry median. Based on the distribution chart, Badger Infrastructure Solutions ranks #1237 out of 1359 companies in the Construction industry, which is in the bottom quartile relative to peers. Overall, Badger Infrastructure Solutions has a GF Score™ of 93/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Badger Infrastructure Solutions' Cyclically Adjusted PS Ratio compare to PWR and FIX?
According to the Construction industry distribution chart, Badger Infrastructure Solutions ranks #1237 out of 1359 companies for Cyclically Adjusted PS Ratio. This places Badger Infrastructure Solutions in the lower half of its industry. The industry median Cyclically Adjusted PS Ratio is 0.70. Badger Infrastructure Solutions' value of 3.41 is 387.1% above this benchmark. Historically, Badger Infrastructure Solutions' own Cyclically Adjusted PS Ratio has ranged from 1.50 to 4.80 over the past decade. While the company's 10-year median is 2.86 vs. the industry median of 0.70, Badger Infrastructure Solutions has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PS Ratio for a Construction company?
The median Cyclically Adjusted PS Ratio among Construction companies is 0.70, based on 1,359 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PS Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PS Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Badger Infrastructure Solutions's current Cyclically Adjusted PS Ratio of 3.41 is 387.1% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PS Ratio mean?
A high Cyclically Adjusted PS Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PS Ratio is the ratio of share price to a company's inflation-adjusted revenue per share over a 10-year period. View historical data on Badger Infrastructure Solutions and its competitors. For the Construction industry, the median Cyclically Adjusted PS Ratio is 0.70 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Badger Infrastructure Solutions's current Cyclically Adjusted PS Ratio is 3.41, which is 19% above median its own 10-year median of 2.86. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Badger Infrastructure Solutions stock overvalued right now?
Based on GuruFocus' analysis, Badger Infrastructure Solutions (TSX:BDGI) is currently considered Significantly Overvalued. The stock's GF Value™ is C$56.81, compared to a current price of C$80.88 — trading 42.4% above its estimated fair value. The current Cyclically Adjusted PS Ratio is 3.41, which is 19% above median its 10-year median of 2.86 and 387.1% above the Construction industry median of 0.70. Badger Infrastructure Solutions' overall GF Score™ is 93/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PS Ratio calculated?
Cyclically Adjusted PS Ratio is calculated from a company's financial statements. For Badger Infrastructure Solutions (TSX:BDGI), the current Cyclically Adjusted PS Ratio is 3.41 as of Jul. 30, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Badger Infrastructure Solutions (TSX:BDGI) Overvalued in 2026?

Based on GuruFocus' analysis, Badger Infrastructure Solutions stock appears to be overvalued. The current stock price of C$80.88 is trading 42.4% above its estimated GF Value™ of C$56.81. GuruFocus considers Badger Infrastructure Solutions to be Significantly Overvalued.

Key valuation signals for TSX:BDGI:

  • Cyclically Adjusted PS Ratio: 3.41 (19% above median its 10-year median of 2.86)
  • GF Value™: C$56.81 vs. price of C$80.88 (42.4% above fair value)
  • GF Score™: 93/100 with 7 warning signs
  • Industry Position: 387.1% above the Construction median (#1237 of 1359)

No single metric tells the full story. See the TSX:BDGI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Badger Infrastructure Solutions Business Description

Other Exchanges BDGIF:USA
Address 919 - 11th Avenue SW, Suite 400, Calgary, AB, CAN, T2R 1P3
Badger Infrastructure Solutions Ltd is North America's provider of non-destructive excavating and related services, with operations in both the United States and Canada. Its key technology is the Badger Hydrovac, which is used predominantly for safe excavation around critical infrastructure and in congested underground conditions. The Badger Hydrovac uses a pressurized water stream to liquefy the soil cover, which is then removed with a powerful vacuum system and deposited into a storage tank. The company manufactures and designs its truck-mounted hydrovac units into its existing and future design and manufacturing processes. It provides services to contractors and facility owners in a range of infrastructure industries, general commercial construction and industrial cleaning services.
93GF Score

Get the complete analysis for TSX:BDGI

Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

C$80.88
Price
C$56.81
GF Value