Financials WSP Global Inc.

Equities

WSP

CA92938W2022

Construction & Engineering

Market Closed - Toronto S.E. Other stock markets 02:30:00 05/12/2025 am IST			5-day change	1st Jan Change
242.20 ^CAD	-0.87%		-1.29%	-4.25%

07/11	WSP Global Inc., Q3 2025 Earnings Call, Nov 06, 2025
06/11	Earnings Flash (WSP.TO) WSP Global Inc. Posts Q3 Adjusted EPS $2.82 per Share	MT

Projected Income Statement: WSP Global Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	6,859	7,870	8,957	10,897	12,172	13,931	15,232	16,188
Change	-	14.73%	13.82%	21.66%	11.7%	14.45%	9.34%	6.27%
EBITDA ¹	1,054	1,322	1,530	1,921	2,186	2,553	2,871	3,121
Change	-	25.51%	15.71%	25.56%	13.76%	16.82%	12.46%	8.67%
EBIT ¹	577.4	804	953.7	1,248	1,500	1,754	2,002	2,153
Change	-	39.24%	18.62%	30.87%	20.21%	16.9%	14.17%	7.53%
Interest Paid ¹	-73.5	-79.5	-161.6	-202.6	-340.6	-252.6	-284.2	-302.5
Earnings before Tax (EBT) ¹	385.9	645.1	587.5	744.9	928	1,324	1,633	1,861
Change	-	67.17%	-8.93%	26.79%	24.58%	42.66%	23.34%	13.95%
Net income ¹	276	473.6	431.8	550	681.4	985	1,189	1,370
Change	-	71.59%	-8.83%	27.37%	23.89%	44.55%	20.75%	15.18%
Announcement Date	24/02/21	09/03/22	08/03/23	28/02/24	26/02/25	-	-	-

¹CAD in Million

Estimates

Fiscal Period: December	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3
Net sales ¹	1,688	1,667	2,029	2,027	2,147	2,100	2,110	2,194	2,554	2,667	2,739	2,735	2,756	2,793	2,988	2,997	3,394	3,347	3,476	3,463	3,650	3,682	3,841	3,889	3,973	3,800	3,933	3,930
Change	-	-1.27%	21.72%	-0.11%	5.96%	-2.21%	0.46%	4%	16.4%	4.44%	2.7%	-0.16%	0.78%	1.35%	6.97%	0.3%	13.25%	-1.38%	3.84%	-0.37%	5.4%	0.88%	4.31%	1.26%	2.14%	-4.34%	3.49%	-0.08%
EBITDA ¹	262.1	241	342.6	377.7	361.2	324.6	352.2	407	446.4	413.3	461.6	521.5	524.9	446.1	519.9	585.4	634.3	533.9	632.8	700.4	689	613.8	715.9	796.3	773.6	677.6	758.2	831.8
Change	-	-8.05%	42.16%	10.25%	-4.37%	-10.13%	8.5%	15.56%	9.68%	-7.41%	11.69%	12.98%	0.65%	-15.01%	16.54%	12.6%	8.35%	-15.83%	18.52%	10.68%	-1.63%	-10.92%	16.63%	11.24%	-2.86%	-12.4%	11.9%	9.7%
EBIT ¹	140.9	131.6	210.1	243.2	219.1	191.2	223	274.4	265.1	247.4	293.3	358.1	349.3	285.5	358.1	412	444.8	348	446.8	506.2	487.4	448.5	536.7	615.6	609.8	503.4	559.6	631
Change	-	-6.6%	59.65%	15.75%	-9.91%	-12.73%	16.63%	23.05%	-3.39%	-6.68%	18.55%	22.09%	-2.46%	-18.27%	25.43%	15.05%	7.96%	-21.76%	28.39%	13.29%	-3.72%	-7.97%	19.67%	14.7%	-0.94%	-17.44%	11.16%	12.76%
Charge d'intérêts ¹	-1.9	-8.4	-23.5	-33.3	-14.3	-27.1	-45.2	-62	-27.3	-45.6	-35	-74.6	-47.4	-71.1	-71.8	-79.4	-118.3	-91.7	-14.6	-69.6	-69	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	-	120.6	165.7	187.9	170.9	130.1	125	174.4	158	154.3	208.9	218.1	163.6	173.2	255.4	272.3	227.1	196.4	382.1	381.2	391.1	-	-	-	-	-	-	-
Change	-	-	37.4%	13.4%	-9.05%	-23.87%	-3.92%	39.52%	-9.4%	-2.34%	35.39%	4.4%	-24.99%	5.87%	47.46%	6.62%	-16.6%	-13.52%	94.55%	-0.24%	2.6%	-	-	-	-	-	-	-
Net income ¹	68.9	87.9	120	139	126.7	95	89.3	127.5	120	112.5	150.7	156.2	130.6	126.8	184.1	203.6	166.9	144.1	279.4	284.5	283.8	-	-	-	-	-	-	-
Change	-	27.58%	36.52%	15.83%	-8.85%	-25.02%	-6%	42.78%	-5.88%	-6.25%	33.96%	3.65%	-16.39%	-2.91%	45.19%	10.59%	-18.03%	-13.66%	93.89%	1.83%	-0.26%	-	-	-	-	-	-	-
Announcement Date	24/02/21	12/05/21	10/08/21	09/11/21	09/03/22	11/05/22	08/08/22	09/11/22	08/03/23	10/05/23	08/08/23	08/11/23	28/02/24	08/05/24	30/07/24	06/11/24	26/02/25	07/05/25	06/08/25	05/11/25	-	-	-	-	-	-	-	-

¹CAD in Million

Estimates

Forecast Balance Sheet: WSP Global Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	137	849	3,589	3,142	4,261	4,079	3,487	3,037
Change	-	519.71%	322.73%	-12.45%	35.61%	-4.27%	-14.51%	-12.91%
Announcement Date	24/02/21	09/03/22	08/03/23	28/02/24	26/02/25	-	-	-

¹CAD in Million

Estimates

Cash Flow Forecast: WSP Global Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	81.2	121.2	166.5	178.1	121.7	194.8	231.2	228.3
Change	-	49.26%	37.38%	6.97%	-31.67%	60.08%	18.68%	-1.24%
Free Cash Flow (FCF) ¹	1,032	635.7	309	433.1	884.5	1,192	1,239	1,431
Change	-	-38.4%	-51.39%	40.16%	104.23%	34.81%	3.9%	15.54%
Announcement Date	24/02/21	09/03/22	08/03/23	28/02/24	26/02/25	-	-	-

¹CAD in Million

Estimates

Forecast Financial Ratios: WSP Global Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	15.36%	16.81%	17.08%	17.63%	17.96%	18.33%	18.85%	19.28%
EBIT Margin (%)	8.42%	10.22%	10.65%	11.45%	12.33%	12.59%	13.15%	13.3%
EBT Margin (%)	5.63%	8.2%	6.56%	6.84%	7.62%	9.5%	10.72%	11.49%
Net margin (%)	4.02%	6.02%	4.82%	5.05%	5.6%	7.07%	7.81%	8.46%
FCF margin (%)	15.05%	8.08%	3.45%	3.97%	7.27%	8.56%	8.13%	8.84%
FCF / Net Income (%)	373.91%	134.23%	71.56%	78.75%	129.81%	121.05%	104.16%	104.49%
Profitability
ROA	-	4.72%	5.31%	3.62%	5.67%	7.45%	8.25%	7.3%
ROE	7.45%	10.83%	8.09%	13.94%	13.9%	13.5%	14.79%	15.84%
Financial Health
Leverage (Debt/EBITDA)	0.13x	0.64x	2.35x	1.64x	1.95x	1.6x	1.21x	0.97x
Debt / Free cash flow	0.13x	1.34x	11.61x	7.25x	4.82x	3.42x	2.81x	2.12x
Capital Intensity
CAPEX / Current Assets (%)	1.18%	1.54%	1.86%	1.63%	1%	1.4%	1.52%	1.41%
CAPEX / EBITDA (%)	7.71%	9.16%	10.88%	9.27%	5.57%	7.63%	8.05%	7.32%
CAPEX / FCF (%)	7.87%	19.07%	53.88%	41.12%	13.76%	16.34%	18.66%	15.95%
Items per share
Cash flow per share ¹	10.2	9.068	6.75	7.894	10.92	13.64	16.12	17.59
Change	-	-11.13%	-25.56%	16.94%	38.35%	24.92%	18.17%	9.12%
Dividend per Share ¹	1.5	1.5	1.5	1.5	1.5	1.5	1.5	1.5
Change	-	0%	0%	0%	0%	-0.03%	0%	-0.01%
Book Value Per Share ¹	-	-	-	-	65.38	68.94	76.78	85.58
Change	-	-	-	-	-	5.46%	11.37%	11.45%
EPS ¹	2.5	4.05	3.58	4.4	5.38	7.447	9.095	10.28
Change	-	62%	-11.6%	22.91%	22.27%	38.41%	22.13%	13.04%
Nbr of stocks (in thousands)	1,13,524	1,17,687	1,24,454	1,24,664	1,30,344	1,30,608	1,30,608	1,30,608
Announcement Date	24/02/21	09/03/22	08/03/23	28/02/24	26/02/25	-	-	-