Badger Infrastructure Solutions (TSX:BDGI) Scaled Net Operating Assets: 0.76 (As of Mar. 2026)


TSX:BDGI Badger Infrastructure Solutions Ltd TSX:BDGI
89 GF Score
Price C$93.90
GF Value C$56.25
Valuation Significantly Overvalued
! 7 Warning Signs
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What is Badger Infrastructure Solutions Scaled Net Operating Assets?

Badger Infrastructure Solutions TSX:BDGI +3.13% 89 Scaled Net Operating Assets is 0.76 as of Mar. 2026. GuruFocus rates TSX:BDGI with a GF Score™ of 89/100 and a GF Value™ of C$56.25 (Significantly Overvalued). The stock has 7 warning signs investors should review.

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Badger Infrastructure Solutions's operating assets for the quarter that ended in Mar. 2026 was C$1,077 Mil. Badger Infrastructure Solutions's operating liabilities for the quarter that ended in Mar. 2026 was C$280 Mil. Badger Infrastructure Solutions's Total Assets for the quarter that ended in Dec. 2025 was C$1,052 Mil. Therefore, Badger Infrastructure Solutions's scaled net operating assets (SNOA) for the quarter that ended in Mar. 2026 was 0.76.


Badger Infrastructure Solutions Scaled Net Operating Assets Historical Data

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The historical data trend for Badger Infrastructure Solutions's Scaled Net Operating Assets 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 Scaled Net Operating Assets Chart

Badger Infrastructure Solutions Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Scaled Net Operating Assets
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.72 0.85 0.83 0.78 0.80

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
Scaled Net Operating Assets 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 0.75 0.75 0.77 0.71 0.76

TSX:BDGI vs PWR, FIX, EME: Scaled Net Operating Assets Comparison

For the Engineering & Construction subindustry, Badger Infrastructure Solutions's Scaled Net Operating Assets, along with its competitors' market caps and Scaled Net Operating Assets 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 Scaled Net Operating Assets vs Construction Industry

For the Construction industry and Industrials sector, Badger Infrastructure Solutions's Scaled Net Operating Assets distribution charts can be found below:

* The bar in red indicates where Badger Infrastructure Solutions's Scaled Net Operating Assets falls into.


TSX:BDGI
89GF Score
Badger Infrastructure Solutions Ltd TSX:BDGI
Scaled Net Operating Assets is just one metric. See GF Score™, valuation, warning signs, and more.
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Badger Infrastructure Solutions Scaled Net Operating Assets Calculation

Scaled Net Operating Assets (SNOA) is calculated as the difference between operating assets and operating liabilities, scaled by lagged total assets.

Badger Infrastructure Solutions's Scaled Net Operating Assets (SNOA) for the fiscal year that ended in Dec. 2025 is calculated as

Scaled Net Operating Assets (SNOA)(A: Dec. 2025 )
=(Operating Assets (A: Dec. 2025 )-Operating Liabilities (A: Dec. 2025 ))/Total Assets (A: Dec. 2024 )
=(1045.682-287.16)/953.718
=0.80

where

Operating Assets(A: Dec. 2025 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=1052.259 - 6.577
=1045.682

Operating Liabilities(A: Dec. 2025 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=643.813 - 326.041 - 30.612
=287.16

Badger Infrastructure Solutions's Scaled Net Operating Assets (SNOA) for the quarter that ended in Mar. 2026 is calculated as

Scaled Net Operating Assets (SNOA)(Q: Mar. 2026 )
=(Operating Assets (Q: Mar. 2026 )-Operating Liabilities (Q: Mar. 2026 ))/Total Assets (Q: Dec. 2025 )
=(1076.685-280.096)/1052.259
=0.76

where

Operating Assets(Q: Mar. 2026 )
=Total Assets - Cash, Cash Equivalents, Marketable Securities
=1086.015 - 9.33
=1076.685

Operating Liabilities(Q: Mar. 2026 )
=Total Liabilities - Long-Term Debt & Capital Lease Obligation - Short-Term Debt & Capital Lease Obligation
=686.842 - 375.073 - 31.673
=280.096

* 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.

What does a Scaled Net Operating Assets of 0.76 mean?
Badger Infrastructure Solutions (TSX:BDGI) has a Scaled Net Operating Assets of 0.76 as of Mar. 2026. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Badger Infrastructure Solutions and its competitors.
Is Badger Infrastructure Solutions' Scaled Net Operating Assets too high?
Badger Infrastructure Solutions' current Scaled Net Operating Assets is 0.76. Overall, Badger Infrastructure Solutions has a GF Score™ of 89/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Badger Infrastructure Solutions' Scaled Net Operating Assets compare to PWR and FIX?
Badger Infrastructure Solutions' Scaled Net Operating Assets of 0.76 can be compared against companies in the Construction industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Scaled Net Operating Assets for a Construction company?
A good Scaled Net Operating Assets depends on the Construction industry context. However, Scaled Net Operating Assets should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Scaled Net Operating Assets mean?
A high Scaled Net Operating Assets can signal that a stock is expensive relative to its fundamentals. Scaled net operating assets equals current-period operating assets less operating liabilities less prior-period total assets. View historical data on Badger Infrastructure Solutions and its competitors. Badger Infrastructure Solutions's current Scaled Net Operating Assets is 0.76. 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$56.25, compared to a current price of C$93.90 — trading 66.9% above its estimated fair value. The current Scaled Net Operating Assets is 0.76. Badger Infrastructure Solutions' overall GF Score™ is 89/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Scaled Net Operating Assets calculated?
Scaled Net Operating Assets is calculated from a company's financial statements. For Badger Infrastructure Solutions (TSX:BDGI), the current Scaled Net Operating Assets is 0.76 as of Mar. 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$93.90 is trading 66.9% above its estimated GF Value™ of C$56.25. GuruFocus considers Badger Infrastructure Solutions to be Significantly Overvalued.

Key valuation signals for TSX:BDGI:

  • Scaled Net Operating Assets: 0.76
  • GF Value™: C$56.25 vs. price of C$93.90 (66.9% above fair value)
  • GF Score™: 89/100 with 7 warning signs

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.
89GF Score

Get the complete analysis for TSX:BDGI

Scaled Net Operating Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

C$93.90
Price
C$56.25
GF Value