Tearsheet

Stantec (STN)

Market Price (3/30/2026): $85.43 | Market Cap: $9.7 Bil
Sector: Industrials | Industry: Construction & Engineering

Stantec (STN)

Market Price (3/30/2026): $85.43
Market Cap: $9.7 Bil
Sector: Industrials
Industry: Construction & Engineering

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.0%, FCF Yield is 8.1%	Weak multi-year price returns 2Y Excs Rtn is -21%, 3Y Excs Rtn is -5.5%	Key risks STN key risks include [1] margin and execution challenges arising from the integration of disparate cultures and systems of acquired companies as part of its global expansion strategy.
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11%
2	Low stock price volatility Vol 12M is 27%
3	Megatrend and thematic drivers Megatrends include Water Infrastructure, and Sustainable & Green Buildings. Themes include Water Treatment & Delivery, Wastewater Management, Show more.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.0%, FCF Yield is 8.1%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11%
2	Low stock price volatility Vol 12M is 27%
3	Megatrend and thematic drivers Megatrends include Water Infrastructure, and Sustainable & Green Buildings. Themes include Water Treatment & Delivery, Wastewater Management, Show more.
4	Weak multi-year price returns 2Y Excs Rtn is -21%, 3Y Excs Rtn is -5.5%
5	Key risks STN key risks include [1] margin and execution challenges arising from the integration of disparate cultures and systems of acquired companies as part of its global expansion strategy.

Valuation, Metrics & Events

	3/30/26	2025	2024	2023	2022
Share Price CYE	$85.43	$94.36	$78.45	$80.19	$47.94
Market Cap CYE ($ Bil)	9.7	10.8	8.9	9.0	5.3
Total Debt ($ Bil)	2.5	2.5	2.0	1.7	1.9
Total Cash ($ Bil)	0.4	0.4	0.3	0.4	0.2
Enterprise Value ($ Bil)	11.9	13.3	10.9	10.7	7.2
Valuation Ratios
P/S TTM	1.2	1.3	1.2	1.4	0.9
P/EBIT TTM	13.3	14.7	14.9	17.2	13.5
P/E TTM	20.3	22.5	24.8	27.7	21.5
P/FCF TTM	12.3	13.6	17.8	20.5	23.1
Sector Ratios
P/S TTM (Sector)	1.6	1.7	1.6	1.4	1.2
P/EBIT TTM (Sector)	11.1	11.5	11.6	10.8	9.0
P/E TTM (Sector)	14.7	15.6	15.5	15.0	11.8
P/FCF TTM (Sector)	11.6	11.8	12.5	10.7	8.1

	3/30/26	2025	2024
Share Price CYE	$85.43	$94.36	$78.45
Market Cap CYE ($ Bil)	9.7	10.8	8.9
Total Debt ($ Bil)	2.5	2.5	2.0
Total Cash ($ Bil)	0.4	0.4	0.3
Enterprise Value ($ Bil)	11.9	13.3	10.9
Valuation Ratios
P/S TTM	1.2	1.3	1.2
P/EBIT TTM	13.3	14.7	14.9
P/E TTM	20.3	22.5	24.8
P/FCF TTM	12.3	13.6	17.8
Sector Ratios
P/S TTM (Sector)	1.6	1.7	1.6
P/EBIT TTM (Sector)	11.1	11.5	11.6
P/E TTM (Sector)	14.7	15.6	15.5
P/FCF TTM (Sector)	11.6	11.8	12.5

	STN	S&P 500
REVENUE GROWTH	FAIR
Rev LTM ($ Bil)	8.1
Rev Chg Q	8.0%	7.3%
Rev Chg LTM	8.6%	6.7%
Rev Chg 3Y Avg	12.8%	5.7%
PROFITABILITY	POOR
Op Inc LTM ($ Bil)	0.7
CFO LTM ($ Bil)	0.9
Net Inc LTM ($ Bil)	0.5
Op Mgn LTM	8.8%	18.6%
CFO/Rev LTM	10.6%	20.7%
Net Inc Mgn	5.9%	12.8%
VALUATION	LOW
P/S	1.2	3.1
P/CFO	11.3	14.8
P/FCF	12.3	19.4
P/E	20.3	23.7
STABILITY	GOOD
Debt/Equity	0.26	0.22
Cash/Assets	0.05	0.07

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Metric	Value	Date	Source
Contract Backlog	C$7.9 billion	6302025	Link
Number of Employees	32000	12312024	Link
Repeat Business Rate	95%	12312023	Link
Number of Locations	more than 450	1012024	Link
Voluntary Turnover Rate	one of the lowest among peers of our size	2242024	Link

Upcoming
3/31/2026	Dividend	Amount: $0.18 Payment On: 4/15/2026
5/13/2026	Earnings Release	Rev: $1.0 Bil (E) EPS: $0.95 (E)

Price Chart

Return (1M):

Why The Stock Moved

Qualitative Assessment

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Stantec (STN) stock has lost about 10% since 11/30/2025 because of the following key factors:

1. Fourth Quarter 2025 Revenue Miss. Stantec reported fourth-quarter 2025 revenue of $1.19 billion, significantly missing analysts' consensus estimate of $1.65 billion. This substantial revenue shortfall, a difference of $460 million, likely contributed to investor concern despite the company exceeding its earnings per share estimates and delivering record full-year results for 2025.

2. Broader Industry Headwinds in Engineering and Construction. The engineering and construction sector experienced persistent macroeconomic challenges in late 2025 and early 2026. These included rising material costs, inflationary pressures, and elevated interest rates, which led to tightened project margins and extended project schedules across the industry.

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Stock Movement Drivers

Fundamental Drivers

The -11.4% change in STN stock from 11/30/2025 to 3/29/2026 was primarily driven by a -10.7% change in the company's P/E Multiple.

(LTM values as of)	11302025	3292026	Change
Stock Price ($)	96.39	85.36	-11.4%
Change Contribution By:
Total Revenues ($ Mil)	7,988	8,144	2.0%
Net Income Margin (%)	6.1%	5.9%	-2.8%
P/E Multiple	22.7	20.3	-10.7%
Shares Outstanding (Mil)	114	114	0.0%
Cumulative Contribution			-11.4%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 3/29/2026

	Return	Correlation
STN	-11.4%
Market (SPY)	-5.3%	55.8%
Sector (XLI)	3.9%	44.5%

Fundamental Drivers

The -21.2% change in STN stock from 8/31/2025 to 3/29/2026 was primarily driven by a -28.2% change in the company's P/E Multiple.

(LTM values as of)	8312025	3292026	Change
Stock Price ($)	108.32	85.36	-21.2%
Change Contribution By:
Total Revenues ($ Mil)	7,777	8,144	4.7%
Net Income Margin (%)	5.6%	5.9%	4.8%
P/E Multiple	28.3	20.3	-28.2%
Shares Outstanding (Mil)	114	114	0.0%
Cumulative Contribution			-21.2%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 3/29/2026

	Return	Correlation
STN	-21.2%
Market (SPY)	0.6%	54.9%
Sector (XLI)	5.5%	48.0%

Fundamental Drivers

The 0.8% change in STN stock from 2/28/2025 to 3/29/2026 was primarily driven by a 22.1% change in the company's Net Income Margin (%).

(LTM values as of)	2282025	3292026	Change
Stock Price ($)	84.72	85.36	0.8%
Change Contribution By:
Total Revenues ($ Mil)	7,500	8,144	8.6%
Net Income Margin (%)	4.8%	5.9%	22.1%
P/E Multiple	26.7	20.3	-24.0%
Shares Outstanding (Mil)	114	114	0.0%
Cumulative Contribution			0.8%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2025 to 3/29/2026

	Return	Correlation
STN	0.8%
Market (SPY)	9.8%	56.7%
Sector (XLI)	18.4%	58.3%

Fundamental Drivers

The 50.5% change in STN stock from 2/28/2023 to 3/29/2026 was primarily driven by a 43.5% change in the company's Total Revenues ($ Mil).

(LTM values as of)	2282023	3292026	Change
Stock Price ($)	56.70	85.36	50.5%
Change Contribution By:
Total Revenues ($ Mil)	5,677	8,144	43.5%
Net Income Margin (%)	4.4%	5.9%	35.3%
P/E Multiple	25.4	20.3	-20.1%
Shares Outstanding (Mil)	111	114	-2.9%
Cumulative Contribution			50.5%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2023 to 3/29/2026

	Return	Correlation
STN	50.5%
Market (SPY)	69.4%	49.3%
Sector (XLI)	65.1%	51.5%

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
STN Return	75%	-14%	69%	-1%	21%	-8%	180%
Peers Return	44%	-5%	12%	21%	-8%	-7%	57%
S&P 500 Return	27%	-19%	24%	23%	16%	-5%	72%
Monthly Win Rates [3]
STN Win Rate	67%	33%	67%	58%	50%	33%
Peers Win Rate	64%	50%	50%	67%	58%	56%
S&P 500 Win Rate	75%	42%	67%	75%	67%	33%
Max Drawdowns [4]
STN Max Drawdown	-1%	-27%	-0%	-4%	-5%	-8%
Peers Max Drawdown	-3%	-24%	-9%	-6%	-21%	-7%
S&P 500 Max Drawdown	-1%	-25%	-1%	-2%	-15%	-5%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: J, ACM, TTEK.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/27/2026 (YTD)

How Low Can It Go

Unique Key	Event	STN	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-28.3%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	39.5%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	287 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-32.2%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	47.5%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	112 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-28.0%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	38.9%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	97 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-67.4%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	206.9%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	1,514 days	1,480 days

Compare to J, ACM, TTEK

In The Past

Stantec's stock fell -28.3% during the 2022 Inflation Shock from a high on 12/7/2021. A -28.3% loss requires a 39.5% gain to breakeven.

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About Stantec (STN)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Stantec Inc. provides engineering, architecture, and environmental consulting services in the areas of infrastructure and facilities in Canada, the United States, and internationally. The company provides consulting services in engineering, architecture, interior design, landscape architecture, surveying, environmental sciences, project management, and project economics. It also offers structural, mechanical, electrical, plumbing, and hydraulics engineering services; transportation advisory, planning and analytics, transport engineering, and technical design; paleontological and archaeological services for the rail, transportation, water, and power and energy sectors; environmental and infrastructure services; and environmental and cultural resource compliance services. The company was formerly known as Stanley Technology Group Inc. and changed its name to Stantec Inc. in October 1998. Stantec Inc. was founded in 1954 and is headquartered in Edmonton, Canada.

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Stantec is like AECOM for global infrastructure engineering, architecture, and environmental consulting services.

Think of Stantec as similar to Jacobs Engineering Group, providing comprehensive design and engineering expertise for major facilities and infrastructure projects worldwide.

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Engineering Services: Provides diverse engineering disciplines, including structural, mechanical, electrical, plumbing, hydraulics, and transportation engineering.
Architecture and Design Services: Offers architectural design, interior design, and landscape architecture for various facilities and projects.
Environmental Consulting Services: Specializes in environmental sciences, cultural resource management, and compliance, including paleontological and archaeological services.
Planning and Advisory Services: Delivers transportation advisory, planning, analytics, project management, and project economics expertise.
Surveying: Provides essential surveying services for development and infrastructure projects.

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Stantec Inc. provides consulting services primarily to other organizations, rather than to individuals. Its major customers fall into the following categories:

Government Agencies and Municipalities: This includes federal, state/provincial, and local governments; public transit authorities; water and wastewater utilities; and various public works departments. These entities contract Stantec for infrastructure projects (roads, bridges, public buildings, transportation systems), water management, environmental planning, and urban development.
Private Corporations: Stantec serves a wide array of private sector clients across various industries, including real estate development, energy (e.g., power generation companies, renewable energy developers, oil and gas firms), mining, industrial manufacturing, and healthcare providers for their facilities and infrastructure needs.
Public and Private Utilities: These are companies and public entities responsible for delivering essential services such as electricity, natural gas, and potable water. Stantec provides services related to the planning, design, and construction of their infrastructure, including transmission lines, distribution networks, treatment plants, and energy facilities.

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Gord Johnston, President & Chief Executive Officer

Gord Johnston became President and CEO of Stantec in 2018, bringing over 30 years of experience in designing and managing infrastructure projects in both private and public sectors globally. He began his career at Stantec's water practice in Edmonton in 1990, advancing through various leadership roles, including leading the water business line and serving as executive vice president of infrastructure. Johnston has been instrumental in Stantec's acquisition and integration strategies, notably with MWH Global, the company's largest acquisition, and the recent integration of Cardno. He successfully divested a construction division inherited through a merger, sharpening Stantec's focus on professional services. Johnston holds Bachelor of Science and Master of Engineering degrees in civil engineering from the University of Alberta and completed programs at Harvard Business School and the Rotman School of Management. He has served on the board of directors for the Association of Consulting Engineering Companies (ACEC) in Canada and as past president of the Consulting Engineers of Alberta.

Vito Culmone, Executive Vice President & Chief Financial Officer

Vito Culmone serves as Stantec's Executive Vice President and Chief Financial Officer. Prior to joining Stantec in April 2019, Culmone was the Chief Financial Officer at Aecon Group Inc. for almost 10 years. He also held senior financial leadership positions at other publicly traded companies including Magna International Inc., Masonite International Corporation, and Bell Canada. He is a Chartered Professional Accountant and holds a Bachelor of Administrative Studies degree from York University.

Cath Schefer, Executive Vice President & Chief Operating Officer, Global

Cath Schefer is the Executive Vice President and Chief Operating Officer for Stantec's global operations. She has extensive experience within Stantec, having previously led the company's Australia/New Zealand region. Schefer has been with Stantec for over two decades and plays a key role in driving operational excellence and strategic direction globally. She holds a Bachelor of Engineering (Civil) from the University of Queensland, Australia.

John Take, Executive Vice President, Chief Growth & Innovation Officer

John Take holds the position of Executive Vice President, Chief Growth & Innovation Officer at Stantec. In this role, he is responsible for driving the company's growth strategies and fostering innovation across its various business lines. Take has a long history with Stantec, having joined the firm in 1989. He has held various leadership positions within the company, including leading the Infrastructure business operating unit.

Susan Reisbord, Executive Vice President, Chief Operating Officer – North America

Susan Reisbord is the Executive Vice President and Chief Operating Officer for Stantec's North America operations. She is responsible for the operational performance and strategic growth of the company's business across the North American region. Reisbord has a background in environmental services and has held leadership roles within Stantec, contributing to the firm's expansion and service delivery in the environmental sector.

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The key risks to Stantec Inc. (STN) are:

Pace of Public Sector Spending and Economic Slowdown: Stantec's business, particularly its Infrastructure segment and operations in the United States (its primary market), is significantly exposed to the pace of public sector spending and broader economic conditions. Delays in public sector procurement cycles and hesitation from private sector clients on large projects can lead to deferred or canceled capital projects, directly impacting Stantec's revenue growth and cash flow, despite a substantial project backlog.
Acquisition Integration Risk: Stantec employs an aggressive strategy of inorganic growth through mergers and acquisitions. The high volume of these acquisitions introduces a continuous risk related to successfully integrating new cultures, systems, and teams into its existing structure. This process is not always seamless and can divert executive attention from core organic growth initiatives.
Rising Interest Rates: An increase in interest rates poses a risk by increasing financing costs for both Stantec and its clients. Higher interest rates make large, long-cycle infrastructure and facility projects more expensive to finance, which can lead to reduced client investment and potentially fewer projects for Stantec.

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The addressable markets for Stantec's main products and services are substantial across its regions of operation. Stantec operates in a vast market, with its serviceable available market (SAM) estimated at $1,130 billion. The largest opportunities within this SAM are in Future Technology ($560 billion), Climate Solutions ($290 billion), and Communities and Infrastructure of the Future ($280 billion). For Stantec's core consulting services, the market sizes are as follows: * Engineering Consulting Services: The global engineering consulting services market was valued at approximately USD 202.8 billion in 2025 and is projected to reach USD 296.2 billion by 2035, growing at a Compound Annual Growth Rate (CAGR) of 4.3% from 2026 to 2035. North America is the largest region within this market, with an estimated size of USD 75 billion in 2024, projected to grow to USD 110 billion by 2035. * Architectural Services: The global architectural services market was estimated at USD 411.67 billion in 2025 and is projected to reach USD 605.62 billion by 2033, demonstrating a CAGR of 5.0% from 2026 to 2033. The Asia Pacific region accounted for the largest revenue share in 2025, while the U.S. market holds the largest revenue share within North America. * Environmental Consulting Services: The global environmental consulting services market was valued at USD 43.20 billion in 2024 and is projected to reach USD 92.85 billion by 2034, expanding at a CAGR of 7.95% from 2025 to 2034. North America is anticipated to maintain its dominance in the environmental consulting services market. In 2025, North America held a 35.53% revenue share of the global market, which was estimated at USD 46.50 billion. * Management Consulting Services (including Project Management): The global management consulting services market was valued at USD 469.53 billion in 2025 and is poised to grow to USD 914.49 billion by 2033, at a CAGR of 8.69% during the forecast period from 2026 to 2033. The North American management consulting services market was valued at USD 153 billion in 2024.

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Stantec Inc. (STN) is expected to drive future revenue growth over the next two to three years through several key strategies and market trends:

Strong Demand in Key Sectors: Stantec anticipates continued robust demand across its core sectors, including water, healthcare, transportation, energy transition, and mission-critical facilities. The company is strategically positioned to capitalize on these areas, with expectations for sustained growth in the US, Canada, and global operations.
Strategic Acquisitions: Stantec remains committed to a disciplined approach to growth through strategic, accretive acquisitions. The company's strong balance sheet provides significant financial capacity to fund future acquisition opportunities, which have historically contributed to its revenue growth.
Organic Growth Initiatives: The company's 2024-2026 Strategic Plan targets organic net revenue growth with a three-year compound annual growth rate (CAGR) of greater than 7%. Stantec expects mid-to-high single-digit organic growth across all geographic reporting segments and business units, driven by high levels of activity and strong project execution.
Large and Growing Contract Backlog: Stantec holds a record backlog of $8.6 billion, which represents approximately 13 months of work. This substantial backlog provides a solid foundation for future revenue, indicating strong future growth potential and sustained project activity.
Integration of AI Technology: Stantec is emphasizing the integration of AI as a key growth driver, viewing it as an "opportunity amplifier" to enhance margins and operational efficiency. Management has highlighted AI-related opportunities as a factor in projected earnings growth and future strategic plans.

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Share Repurchases

Stantec authorized a Normal Course Issuer Bid (NCIB) in March 2026 to repurchase up to 2,281,339 common shares, representing approximately 2% of outstanding shares, by March 11, 2027.
The previous NCIB, which concluded in December 2025, saw no shares repurchased.
Between November 16, 2021, and November 11, 2022, Stantec purchased 1,085,676 common shares at a weighted average price of $60.16 per share under an NCIB that allowed for the repurchase of up to 5,538,309 common shares.

Share Issuance

Stantec's shares outstanding increased from 0.111 billion in 2023 to 0.114 billion in 2024, a 2.55% increase.
As of December 31, 2025, the number of common shares outstanding was 114,066,995.

Inbound Investments

BlackRock, Inc. acquired 4,438,266 shares of Stantec Inc. on March 31, 2025, at a price of $82.84 per share. This increased BlackRock's total holdings in Stantec to 4,866,062 shares, representing 4.30% of Stantec's total shares.

Outbound Investments

In 2025, Stantec completed strategic acquisitions including Page (US-based architecture and engineering), Cosgroves (New Zealand buildings engineering), and Ryan Hanley (Irish engineering and environmental consultancy).
In early 2024, Stantec completed the acquisitions of ZETCON (Germany infrastructure), Morrison Hershfield (Canada transportation, buildings, environmental services), and Hydrock (UK buildings, energy & resources, environmental services, infrastructure), adding over 2,700 employees.
In mid-2023, Stantec acquired Environmental Systems Design, a firm specializing in mission-critical and data center buildings.

Capital Expenditures

Stantec Inc.'s Capital Expenditures amounted to -71.9 million CAD as of December 31, 2025.
Capital expenditures increased by 27% in 2025 compared to the previous year.
Expected capital expenditures for 2026 are 112.4 million CAD, representing 1.4% to 1.8% of net revenue.

Interactive Breakdown

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Better Bets vs. Stantec (STN)

INDUSTRY: Construction & Engineering

Higher Rev Chg 3Y Avg | Lower P/S (Values for STN: 12.8% | 1.2x)

PRIM (19.9% | 1.0x)

Primoris Services

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ESOA (27.0% | 0.5x)

Energy Services of America

BLNK (50.8% | 0.6x)

Blink Charging

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for STN: 12.8% | 13.5x)

TTEK (15.1% | 12.9x)

Tetra Tech

Higher Rev Chg LTM (Value for STN: 8.6%)

FIX (29.5%)

Comfort Systems USA

PWR (20.3%)

Quanta Services

EME (16.6%)

EMCOR

MTZ (16.2%)

MasTec

APG (12.7%)

APi

Higher Rev Chg 3Y Avg (Value for STN: 12.8%)

FIX (30.1%)

Comfort Systems USA

PWR (18.7%)

Quanta Services

EME (15.3%)

EMCOR

MTZ (13.8%)

MasTec

DY (13.4%)

Dycom Industries

Higher Op Mgn LTM (Value for STN: 8.8%)

STRL (16.6%)

Sterling Infrastructure

FIX (14.4%)

Comfort Systems USA

AGX (14.3%)

Argan

IESC (11.7%)

IES

EME (9.2%)

EMCOR

Higher CFO/Rev LTM (Value for STN: 10.6%)

AGX (43.9%)

Argan

STRL (17.7%)

Sterling Infrastructure

FIX (13.0%)

Comfort Systems USA

DY (11.6%)

Dycom Industries

ROAD (10.9%)

Construction Partners

Higher FCF/Rev LTM (Value for STN: 9.7%)

AGX (43.5%)

Argan

STRL (14.6%)

Sterling Infrastructure

FIX (11.3%)

Comfort Systems USA

WLDN (10.4%)

Willdan

TPC (10.2%)

Tutor Perini

Higher Total Yield (Value for STN: 6.0%)

GLDD (6.5%)

Great Lakes Dredge & Dock

SECTOR: Industrials

Higher Rev Chg 3Y Avg | Lower P/S (Values for STN: 12.8% | 1.2x)

LTM (15.2% | 1.0x)

LATAM Airlines

PRIM (19.9% | 1.0x)

Primoris Services

GXO (13.7% | 0.4x)

GXO Logistics

PSN (16.0% | 0.9x)

Parsons

OTEX (17.3% | 1.0x)

Open Text

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for STN: 12.8% | 13.5x)

CP (20.7% | 12.5x)

Canadian Pacific Kansas City

LTM (15.2% | 5.9x)

LATAM Airlines

TTEK (15.1% | 12.9x)

Tetra Tech

PAYC (14.4% | 11.3x)

Paycom Software

GXO (13.7% | 13.4x)

GXO Logistics

Higher Rev Chg LTM (Value for STN: 8.6%)

BA (34.5%)

Boeing

GE (18.5%)

GE Aerospace

UBER (18.3%)

Uber Technologies

RTX (9.7%)

RTX

GEV (9.0%)

GE Vernova

Higher Rev Chg 3Y Avg (Value for STN: 12.8%)

VRT (21.7%)

Vertiv

PWR (18.7%)

Quanta Services

GE (18.3%)

GE Aerospace

UBER (17.7%)

Uber Technologies

HWM (13.4%)

Howmet Aerospace

Higher Op Mgn LTM (Value for STN: 8.8%)

GE (18.9%)

GE Aerospace

DE (18.0%)

Deere

CAT (16.5%)

Caterpillar

UBER (10.7%)

Uber Technologies

RTX (10.5%)

RTX

Higher CFO/Rev LTM (Value for STN: 10.6%)

GE (18.6%)

GE Aerospace

CAT (17.4%)

Caterpillar

DE (16.8%)

Deere

GEV (13.1%)

GE Vernova

RTX (11.9%)

RTX

Higher FCF/Rev LTM (Value for STN: 9.7%)

UBER (18.8%)

Uber Technologies

GE (15.8%)

GE Aerospace

HON (14.5%)

Honeywell International

CAT (11.0%)

Caterpillar

GEV (9.7%)

GE Vernova

Higher Total Yield (Value for STN: 6.0%)

ADP (8.3%)

Automatic Data Processing

UNP (7.3%)

Union Pacific

FDX (7.0%)

FedEx

UBER (7.0%)

Uber Technologies

GD (6.2%)

General Dynamics

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for STN: 12.8% | 1.2x)

MCK (13.3% | 0.3x)

McKesson

CI (15.3% | 0.3x)

Cigna

MFC (33.3% | 1.1x)

Manulife Financial

SLF (322.2% | 0.9x)

Sun Life Financial

CPNG (18.9% | 1.0x)

Coupang

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for STN: 12.8% | 13.5x)

NEM (26.2% | 10.1x)

Newmont

B (16.0% | 8.0x)

Barrick Mining

APO (66.8% | 7.8x)

Apollo Global Management

OKE (18.9% | 10.2x)

ONEOK

FANG (18.3% | 11.7x)

Diamondback Energy

Higher Rev Chg LTM (Value for STN: 8.6%)

NVDA (65.5%)

NVIDIA

MSFT (16.7%)

Microsoft

GOOGL (15.1%)

Alphabet

AMZN (12.4%)

Amazon.com

AAPL (10.1%)

Apple

Higher Rev Chg 3Y Avg (Value for STN: 12.8%)

NVDA (101.8%)

NVIDIA

BRK-B (27.0%)

Berkshire Hathaway

AVGO (26.2%)

Broadcom

META (19.9%)

Meta Platforms

MSFT (14.4%)

Microsoft

Higher Op Mgn LTM (Value for STN: 8.8%)

NVDA (60.4%)

NVIDIA

MSFT (46.7%)

Microsoft

AAPL (32.4%)

Apple

GOOGL (32.0%)

Alphabet

AMZN (11.2%)

Amazon.com

Higher CFO/Rev LTM (Value for STN: 10.6%)

MSFT (52.5%)

Microsoft

NVDA (47.6%)

NVIDIA

GOOGL (40.9%)

Alphabet

AAPL (31.1%)

Apple

AMZN (19.5%)

Amazon.com

Higher FCF/Rev LTM (Value for STN: 9.7%)

NVDA (44.8%)

NVIDIA

AVGO (42.3%)

Broadcom

AAPL (28.3%)

Apple

MSFT (25.3%)

Microsoft

GOOGL (18.2%)

Alphabet

Higher Total Yield (Value for STN: 6.0%)

JPM (7.4%)

JPMorgan Chase

JNJ (6.8%)

Johnson & Johnson

BRK-B (6.6%)

Berkshire Hathaway

XOM (6.4%)

Exxon Mobil

MU (6.1%)

Micron Technology

Best Bets in Industrials

What You Pay

P/EBIT (Value for STN: 13.3x)

GATX (8.9x)

GATX

PAYX (13.6x)

Paychex

AGX (58.4x)

Argan

TDG (15.6x)

TransDigm

PCTY (16.9x)

Paylocity

STRL (30.1x)

Sterling Infrastructure

PAYC (10.3x)

Paycom Software

CSW (25.2x)

CSW Industrials

POWL (28.9x)

Powell Industries

AZZ (7.6x)

AZZ

P/E (Value for STN: 20.3x)

GATX (17.9x)

GATX

PAYX (20.1x)

Paychex

AGX (57.1x)

Argan

TDG (32.7x)

TransDigm

PCTY (23.9x)

Paylocity

STRL (44.5x)

Sterling Infrastructure

PAYC (14.2x)

Paycom Software

CSW (34.5x)

CSW Industrials

POWL (34.8x)

Powell Industries

AZZ (11.4x)

AZZ

What You Get

Rev Chg 3Y Avg (Value for STN: 12.8%)

GATX (11.0%)

GATX

PAYX (8.9%)

Paychex

AGX (28.8%)

Argan

TDG (17.5%)

TransDigm

PCTY (19.0%)

Paylocity

STRL (12.1%)

Sterling Infrastructure

PAYC (14.4%)

Paycom Software

CSW (11.0%)

CSW Industrials

POWL (27.3%)

Powell Industries

AZZ (14.0%)

AZZ

Rev Chg LTM (Value for STN: 8.6%)

GATX (9.8%)

GATX

PAYX (16.4%)

Paychex

AGX (8.1%)

Argan

TDG (11.7%)

TransDigm

PCTY (12.1%)

Paylocity

STRL (17.7%)

Sterling Infrastructure

PAYC (8.9%)

Paycom Software

CSW (16.9%)

CSW Industrials

POWL (5.1%)

Powell Industries

AZZ (1.5%)

AZZ

Rev Chg Q (Value for STN: 8.0%)

GATX (8.6%)

GATX

PAYX (19.9%)

Paychex

AGX (12.7%)

Argan

TDG (13.9%)

TransDigm

PCTY (10.4%)

Paylocity

STRL (51.5%)

Sterling Infrastructure

PAYC (10.2%)

Paycom Software

CSW (20.3%)

CSW Industrials

POWL (4.0%)

Powell Industries

AZZ (5.5%)

AZZ

FCF/Rev 3Y Avg (Value for STN: 7.7%)

GATX (37.4%)

GATX

PAYX (33.2%)

Paychex

AGX (27.3%)

Argan

TDG (22.1%)

TransDigm

PCTY (21.7%)

Paylocity

STRL (18.4%)

Sterling Infrastructure

PAYC (18.2%)

Paycom Software

CSW (18.0%)

CSW Industrials

POWL (17.7%)

Powell Industries

AZZ (16.7%)

AZZ

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 16%, alpha of 4.2%, and sharpe of 0.76

Latest Trefis Analyses

	Title	Date
0	DASHBOARDS
1	How Low Can Stantec Stock Really Go?	10/17/2025
2	Fundamental Metrics: ...	06/19/2024

	Title
0	ARTICLES

Trade Ideas

Select ideas related to STN.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
EFX_2272026_Monopoly_xInd_xCD_Getting_Cheaper	02272026	EFX	Equifax	Monopoly	MY \| Getting CheaperMonopoly-Like with P/S Decline Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple	0.0%	0.0%	0.0%
LZ_2202026_Dip_Buyer_High_CFO_Margins_ExInd_DE	02202026	LZ	LegalZoom.com	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	7.2%	7.2%	-5.0%
ADP_2132026_Dip_Buyer_ValueBuy	02132026	ADP	Automatic Data Processing	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	1.1%	1.1%	-3.0%
TREX_2132026_Dip_Buyer_ValueBuy	02132026	TREX	Trex	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	-3.2%	-3.2%	-5.9%
PCTY_2132026_Dip_Buyer_High_CFO_Margins_ExInd_DE	02132026	PCTY	Paylocity	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	-0.6%	-0.6%	-4.8%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
AGX	Argan	7.8	37.9%	81.1%
TBN	Tamboran Resources	0.9	25.6%	59.4%
U	Unity Software	8.3	13.5%	-56.0%
ADMA	ADMA Biologics	2.2	11.6%	-49.3%
METC	Ramaco Resources	1.0	11.4%	-13.6%
MEOH	Methanex	5.0	9.7%	64.8%
PTON	Peloton Interactive	1.9	8.8%	-28.1%
OXM	Oxford Industries	0.5	8.7%	3.0%
REX	REX American Resources	1.6	8.3%	47.7%
SGML	Sigma Lithium	1.2	7.8%	-20.7%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
BUR	Burford Capital	0.9	-47.1%	-53.6%
RCKT	Rocket Pharmaceuticals	0.4	-19.6%	7.4%
ZBIO	Zenas BioPharma	0.8	-17.8%	-49.8%
BKSY	BlackSky Technology	0.8	-17.2%	24.2%
PSNL	Personalis	0.6	-13.4%	-20.4%
SLS	SELLAS Life Sciences	0.5	-11.8%	15.8%
ANAB	AnaptysBio	1.6	-11.7%	18.4%
FLY	Firefly Aerospace	2.2	-11.6%	6.0%
INBX	Inhibrx Biosciences	0.9	-11.2%	-26.1%
YOU	Clear Secure	4.6	-11.2%	36.3%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
BCPC	Balchem	5.4	610.4%	8.9%
KOD	Kodiak Sciences	2.0	66.3%	32.3%
OLPX	Olaplex	1.3	51.9%	50.7%
CAR	Avis Budget	5.2	48.6%	15.7%
TBN	Tamboran Resources	0.9	36.0%	59.4%
ELVN	Enliven Therapeutics	2.4	33.8%	152.1%
TROX	Tronox	1.4	30.1%	120.3%
BORR	Borr Drilling	1.8	28.7%	50.1%
BRZE	Braze	2.5	25.5%	-32.9%
INDI	Indie Semiconductor	0.6	24.6%	-9.6%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
PIPR	Piper Sandler Cos	1.2	-75.2%	-12.4%
BUR	Burford Capital	0.9	-46.2%	-53.6%
WVE	WAVE Life Sciences	1.1	-45.9%	-62.6%
TASK	TaskUs	0.6	-37.8%	-15.9%
MAZE	Maze Therapeutics	1.4	-36.7%	-26.7%
ADMA	ADMA Biologics	2.2	-35.4%	-49.3%
CRCL	Circle Internet	21.5	-25.7%	18.1%
PLAY	Dave & Buster's Entertainment	0.3	-23.5%	-39.5%
EL	Estee Lauder Companies	24.3	-21.8%	-35.6%
NTSK	Netskope	1.9	-18.9%	-55.9%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
SOC	Sable Offshore	1.8	133.2%	104.5%
DAWN	Day One Biopharmaceuticals	2.2	101.0%	129.7%
VG	Venture Global	42.7	85.4%	157.4%
AAOI	Applied Optoelectronics	6.2	82.9%	181.7%
TNGX	Tango Therapeutics	2.1	68.9%	117.4%
AXTI	AXT	2.7	63.3%	270.8%
BW	Babcock & Wilcox Enterprises	1.5	61.7%	134.4%
PARR	Par Pacific	3.3	61.6%	86.9%
LWLG	Lightwave Logic	0.9	61.5%	123.3%
SM	SM Energy	3.8	56.2%	76.5%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
WVE	WAVE Life Sciences	1.1	-58.6%	-62.6%
BUR	Burford Capital	0.9	-51.4%	-53.6%
OLMA	Olema Pharmaceuticals	1.2	-44.0%	-45.3%
WING	Wingstop	4.3	-43.1%	-35.2%
FRMI	Fermi	3.7	-43.0%	-22.8%
PAR	PAR Technology	0.5	-43.0%	-64.7%
SES	SES AI	0.3	-42.6%	-45.1%
USAS	Americas Gold And Silver	1.5	-41.9%	7.6%
ITRG	Integra Resources	0.4	-41.0%	-36.2%
VITL	Vital Farms	0.6	-40.6%	-58.9%

Peer Comparisons

Peers to compare with:

Financials

	STN	J	ACM	TTEK	Median
Name	Stantec	Jacobs S.	AECOM	Tetra Te.
Mkt Price	85.36	125.89	85.46	29.78	85.41
Mkt Cap	9.7	14.9	11.2	7.8	10.5
Rev LTM	8,144	12,390	15,956	5,233	10,267
Op Inc LTM	720	888	1,071	600	804
FCF LTM	791	875	616	498	703
FCF 3Y Avg	578	824	647	390	613
CFO LTM	863	960	741	517	802
CFO 3Y Avg	668	932	765	411	717

Growth & Margins

	STN	J	ACM	TTEK	Median
Name	Stantec	Jacobs S.	AECOM	Tetra Te.
Rev Chg LTM	8.6%	6.6%	-1.6%	-2.9%	2.5%
Rev Chg 3Y Avg	12.8%	7.0%	6.5%	15.1%	9.9%
Rev Chg Q	8.0%	12.3%	-4.6%	-14.8%	1.7%
QoQ Delta Rev Chg LTM	2.0%	3.0%	-1.1%	-3.9%	0.4%
Op Mgn LTM	8.8%	7.2%	6.7%	11.5%	8.0%
Op Mgn 3Y Avg	8.2%	6.5%	6.0%	10.1%	7.4%
QoQ Delta Op Mgn LTM	-0.1%	-0.0%	0.2%	0.4%	0.1%
CFO/Rev LTM	10.6%	7.7%	4.6%	9.9%	8.8%
CFO/Rev 3Y Avg	9.0%	8.4%	4.9%	8.0%	8.2%
FCF/Rev LTM	9.7%	7.1%	3.9%	9.5%	8.3%
FCF/Rev 3Y Avg	7.7%	7.4%	4.1%	7.5%	7.5%

Valuation

	STN	J	ACM	TTEK	Median
Name	Stantec	Jacobs S.	AECOM	Tetra Te.
Mkt Cap	9.7	14.9	11.2	7.8	10.5
P/S	1.2	1.2	0.7	1.5	1.2
P/EBIT	13.3	17.7	10.3	14.3	13.8
P/E	20.3	34.5	23.8	22.1	23.0
P/CFO	11.3	15.6	15.1	15.0	15.1
Total Yield	6.0%	3.4%	5.4%	5.4%	5.4%
Dividend Yield	1.0%	0.5%	1.2%	0.9%	0.9%
FCF Yield 3Y Avg	6.0%	5.1%	4.9%	4.2%	5.0%
D/E	0.3	0.2	0.3	0.1	0.2
Net D/E	0.2	0.1	0.2	0.1	0.1

Returns

	STN	J	ACM	TTEK	Median
Name	Stantec	Jacobs S.	AECOM	Tetra Te.
1M Rtn	-8.0%	-8.7%	-12.8%	-16.9%	-10.7%
3M Rtn	-11.0%	-6.7%	-12.0%	-12.3%	-11.5%
6M Rtn	-19.4%	-14.4%	-33.5%	-10.3%	-16.9%
12M Rtn	4.6%	5.9%	-6.7%	2.9%	3.8%
3Y Rtn	49.3%	35.3%	5.3%	4.0%	20.3%
1M Excs Rtn	-2.5%	-2.1%	-6.3%	-8.3%	-4.4%
3M Excs Rtn	-2.6%	0.9%	-3.9%	-4.6%	-3.3%
6M Excs Rtn	-16.7%	-9.9%	-29.5%	-6.1%	-13.3%
12M Excs Rtn	-8.9%	-7.9%	-20.2%	-9.2%	-9.0%
3Y Excs Rtn	-5.5%	-22.6%	-54.3%	-54.8%	-38.4%

FDIC Bank Data

Bank Capital

null

Bank Deposits

null

Bank Assets

null

Bank Loans

null

FDA Approved Drugs Data

Expand for Morenull

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2025	2024	2023	2022	2021	2020
Period End	12/31/2025	12/31/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020
Filing Date	2/25/2026	2/25/2026	2/25/2025	2/28/2024	2/22/2023	2/23/2022	2/24/2021
Key Financials
Total Revenue	8,144	8,144	7,500	6,480	5,677	4,577	4,730
EBITDA	1,084	1,097	902	794	678	528	499
Operating Income	720	720	591	496	391	318	349
Net Income	479	479	362	316	247	201	171
EPS	4.21	4.20	3.17	2.85	2.23	1.80	1.53
Growth Rates
Total Revenue Growth	8.6%	8.6%	15.7%	14.1%	24.0%	-3.2%	-2.0%
EBITDA Growth	17.9%	21.6%	13.6%	17.1%	28.6%	5.8%	-14.0%
Operating Income Growth	21.8%	21.8%	19.2%	26.7%	23.1%	-8.9%	4.5%
Net Income Growth	32.6%	32.6%	14.2%	28.1%	23.1%	17.3%	-12.0%
Margins
EBITDA Margin	13.3%	13.5%	12.0%	12.3%	11.9%	11.5%	10.5%
Operating Income Margin	8.8%	8.8%	7.9%	7.7%	6.9%	6.9%	7.4%
Net Income Margin	5.9%	5.9%	4.8%	4.9%	4.4%	4.4%	3.6%
Cash & Debt
Total Cash	416	416	255	369	157	215	320
Total Debt	2,547	2,547	2,043	1,701	1,867	1,921	1,315
Net Debt / (Cash)	2,131	2,131	1,788	1,332	1,710	1,706	996
Cash Flows
Net Cash from Operations	863	863	603	520	304	397	604
Free Cash from Operations	791	791	504	419	229	346	570
Returns to Shareholders
Dividends	101	101	94	85	78	72	68
Share Repurchases	-0	-0	-0	10	65	51	80

$ Mil \| FY: 12/31	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1
Period End	12/31/2025	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023
Filing Date	2/25/2026	11/13/2025	8/13/2025	5/14/2025	2/25/2025	11/7/2024	8/7/2024	5/8/2024	2/28/2024	11/9/2023	8/9/2023	5/10/2023
Key Financials Quarterly
Total Revenue	2,116	2,140	1,964	1,924	1,960	1,929	1,890	1,721	1,609	1,693	1,638	1,539
Ebitda	271	317	266	230	239	245	233	202	195	226	207	177
Operating Income	158	222	187	153	150	171	152	118	113	160	135	99
Net Income	94	150	135	100	98	103	83	77	70	101	88	65
EPS	0.82	1.32	1.19	0.88	0.86	0.90	0.73	0.68	0.65	0.91	0.79	0.59
Key Financials TTM
Total Revenue TTM	8,144	7,988	7,777	7,702	7,500	7,150	6,913	6,662	6,480	6,384	6,164	5,902
Ebitda TTM	1,084	1,052	980	947	919	874	856	830	805	804	757	715
Operating Income TTM	720	711	660	626	591	554	543	526	507	502	453	418
Net Income TTM	479	484	437	384	362	334	332	337	325	328	294	267
Growth Rates Quarterly
Total Revenue Growth	8.0%	10.9%	3.9%	11.7%	21.8%	13.9%	15.4%	11.8%	6.3%	14.9%	19.0%	17.1%
EBITDA Growth	13.2%	29.5%	14.2%	13.8%	22.9%	8.3%	12.7%	13.8%	0.4%	26.6%	25.3%	26.3%
Operating Income Growth	5.7%	30.0%	22.6%	29.3%	32.7%	6.8%	12.5%	19.5%	4.4%	44.1%	34.6%	37.7%
Net Income Growth	-4.2%	45.3%	62.7%	29.8%	39.0%	1.9%	-5.5%	18.8%	-4.1%	49.0%	45.0%	44.9%
Margins Quarterly
EBITDA Margin	12.8%	14.8%	13.6%	11.9%	12.2%	12.7%	12.3%	11.7%	12.1%	13.3%	12.6%	11.5%
Operating Income Margin	7.5%	10.4%	9.5%	8.0%	7.6%	8.8%	8.1%	6.9%	7.0%	9.4%	8.3%	6.4%
Net Income Margin	4.4%	7.0%	6.9%	5.2%	5.0%	5.3%	4.4%	4.5%	4.4%	6.0%	5.4%	4.2%
Cash & Debt
Total Cash	416	382	364	283	255	279	234	219	369	181	239	141
Total Debt	2,547	2,708	2,141	2,055	2,043	2,331	2,392	2,159	1,701	2,022	2,193	1,913
Net Debt / (Cash)	2,131	2,326	1,778	1,772	1,788	2,052	2,158	1,940	1,332	1,841	1,954	1,773
Cash Flows Quarterly
FCF from Operations	312	316	134	101	307	179	75	43	259	213	31	37
Cash Flows TTM
FCF from Operations TTM	863	857	720	661	603	555	589	546	540	490	370	335
Returns to Shareholders Quarterly
Dividends	26	26	26	24	24	24	24	22	22	22	22	20
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	10	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	13.4%	17.3%	17.3%	14.0%	13.8%	15.3%	13.0%	11.0%	13.0%	16.7%	13.8%	10.5%
Return on Invested Capital (ROIC) TTM
ROIC TTM	15.1%	14.0%	15.6%	14.4%	13.7%	12.3%	11.6%	12.2%	14.7%	13.0%	11.4%	11.0%

Segment Financials

Revenue by Segment

$ Mil	2025	2024	2023	2022	2021
Single segment	7,500	6,480	5,677	4,577	4,730
Total	7,500	6,480	5,677	4,577	4,730

Price Behavior

Price Behavior

Market Price	$85.36
Market Cap ($ Bil)	9.7
First Trading Date	08/05/2005
Distance from 52W High	-24.8%
	50 Days	200 Days
DMA Price	$93.67	$102.51
DMA Trend	down	down
Distance from DMA	-8.9%	-16.7%
	3M	1YR
Volatility	35.2%	27.1%
Downside Capture	1.02	0.76
Upside Capture	154.95	94.24
Correlation (SPY)	54.6%	56.5%

STN Betas & Captures as of 2/28/2026

	1M	2M	3M	6M	1Y	3Y
Beta	2.35	1.85	1.79	1.38	0.79	0.78
Up Beta	1.32	1.07	1.37	0.75	0.70	0.72
Down Beta	4.82	2.29	2.33	1.70	0.66	0.77
Up Capture	162%	184%	160%	106%	91%	61%
Bmk +ve Days	9	20	31	70	142	431
Stock +ve Days	11	22	34	65	138	397
Down Capture	228%	191%	172%	159%	101%	94%
Bmk -ve Days	12	21	30	54	109	320
Stock -ve Days	10	19	27	58	112	353

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with STN
STN	2.6%	27.0%	0.08	-
Sector ETF (XLI)	20.5%	19.2%	0.84	57.0%
Equity (SPY)	14.5%	18.9%	0.59	56.6%
Gold (GLD)	50.2%	27.7%	1.46	14.9%
Commodities (DBC)	17.8%	17.6%	0.85	17.3%
Real Estate (VNQ)	0.4%	16.4%	-0.15	40.9%
Bitcoin (BTCUSD)	-23.7%	44.2%	-0.49	29.7%

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Based On 5-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with STN
STN	16.0%	24.5%	0.58	-
Sector ETF (XLI)	12.3%	17.2%	0.56	55.7%
Equity (SPY)	11.8%	17.0%	0.54	54.2%
Gold (GLD)	20.7%	17.7%	0.96	13.4%
Commodities (DBC)	11.6%	18.9%	0.50	15.0%
Real Estate (VNQ)	3.0%	18.8%	0.07	40.6%
Bitcoin (BTCUSD)	4.0%	56.6%	0.29	18.4%

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Based On 10-Year Data

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with STN
STN	15.2%	25.5%	0.57	-
Sector ETF (XLI)	13.0%	19.8%	0.58	52.8%
Equity (SPY)	14.0%	17.9%	0.67	52.5%
Gold (GLD)	13.3%	15.8%	0.70	7.7%
Commodities (DBC)	8.2%	17.6%	0.39	24.0%
Real Estate (VNQ)	4.7%	20.7%	0.19	39.8%
Bitcoin (BTCUSD)	66.4%	66.8%	1.06	12.5%

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Short Interest

Short Interest: As Of Date	3132026
Short Interest: Shares Quantity	1.4 Mil
Short Interest: % Change Since 2282026	-7.7%
Average Daily Volume	0.3 Mil
Days-to-Cover Short Interest	4.9 days
Basic Shares Quantity	114.1 Mil
Short % of Basic Shares	1.2%

Returns Analyses

	Title
0	How Low Can Stantec Stock Really Go?

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
SUMMARY STATS
# Positive	0	0	0
# Negative	0	0	0
Median Positive
Median Negative
Max Positive
Max Negative

SEC Filings

Expand for More

Report Date	Filing Date	Filing
12/31/2025	02/25/2026	40-F
09/30/2025	11/13/2025	6-K
06/30/2025	08/13/2025	6-K
03/31/2025	05/14/2025	6-K
12/31/2024	02/25/2025	40-F
09/30/2024	11/07/2024	6-K
06/30/2024	08/07/2024	6-K
03/31/2024	05/08/2024	6-K
12/31/2023	02/28/2024	40-F
09/30/2023	11/09/2023	6-K
06/30/2023	08/09/2023	6-K
03/31/2023	05/10/2023	6-K
12/31/2022	02/22/2023	40-F
09/30/2022	11/10/2022	6-K
06/30/2022	08/10/2022	6-K
03/31/2022	05/11/2022	6-K

Recent Forward Guidance [BETA]

Latest: null Earnings Reported N/A/N/A/N/A | Prior: null Earnings Reported N/A/N/A/N/A

null

Insider Activity

Expand for Morenull

STN Trade Sentinel

Stock Conviction

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CONVICTION RATIONALE

null

STOCK ARCHETYPE

null

INVESTMENT THESIS

null

Mechanism: null

Supporting Evidence:

PRIMARY RISK

null

Mechanism: null

Supporting Evidence:

Key KPI Watchlist

KPI	Threshold	Rationale

Core Investment Debate

BULL VIEW

CORE TENSION

PREVAILING SENTIMENT

BEAR VIEW

Next 6 months: Risks and Catalysts

Timeline	Event & Metric To Watch

Key Events in Last 6 Months

Date	Event	Stock Impact

Risk Management

Position Sizing

null

Diversification Alternatives

How Is The Market Pricing STN?

What will confirm the thesis

What will damage the thesis

Noise: Real but irrelevant to thesis

Repricing Catalyst

What STN Makes & Who Pays

TTM figures based on

STN Evolution: Price Return by Era

① Structure

② Volume / Momentum

③ Catalyst

Combined Score

0 / 12

1 Price Structure & Trend · ▾

2 Momentum ▾

3 Relative Strength vs. SPY ▾

4 Institutional Footprint & Volume ▾

5 Volatility ▾

6 Key Price Levels Range · Vol ▾

7 Earnings Reaction History ▾

8 How the Verdict Is Derived Three Pillars ▾

Pillar	Score
① Structure	0
② Vol / Mom	0
③ Catalyst	0

ℹ Bull Pillars: 0 · Bear Pillars: 0 · Combined Score: 0 →

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Stantec (STN)

Market Price (3/30/2026): $85.43 | Market Cap: $9.7 BilSector: Industrials | Industry: Construction & Engineering

Stantec (STN)

Market Price (3/30/2026): $85.43Market Cap: $9.7 BilSector: IndustrialsIndustry: Construction & Engineering

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

Price Chart

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About Stantec (STN)

Share Repurchases

Share Issuance

Inbound Investments

Outbound Investments

Capital Expenditures

Interactive Breakdown

Better Bets vs. Stantec (STN)

INDUSTRY: Construction & Engineering

Higher Rev Chg 3Y Avg | Lower P/S (Values for STN: 12.8% | 1.2x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for STN: 12.8% | 13.5x)

Higher Rev Chg LTM (Value for STN: 8.6%)

Higher Rev Chg 3Y Avg (Value for STN: 12.8%)

Higher Op Mgn LTM (Value for STN: 8.8%)

Higher CFO/Rev LTM (Value for STN: 10.6%)

Higher FCF/Rev LTM (Value for STN: 9.7%)

Higher Total Yield (Value for STN: 6.0%)

SECTOR: Industrials

Higher Rev Chg 3Y Avg | Lower P/S (Values for STN: 12.8% | 1.2x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for STN: 12.8% | 13.5x)

Higher Rev Chg LTM (Value for STN: 8.6%)

Higher Rev Chg 3Y Avg (Value for STN: 12.8%)

Higher Op Mgn LTM (Value for STN: 8.8%)

Higher CFO/Rev LTM (Value for STN: 10.6%)

Higher FCF/Rev LTM (Value for STN: 9.7%)

Higher Total Yield (Value for STN: 6.0%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for STN: 12.8% | 1.2x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for STN: 12.8% | 13.5x)

Higher Rev Chg LTM (Value for STN: 8.6%)

Higher Rev Chg 3Y Avg (Value for STN: 12.8%)

Higher Op Mgn LTM (Value for STN: 8.8%)

Higher CFO/Rev LTM (Value for STN: 10.6%)

Higher FCF/Rev LTM (Value for STN: 9.7%)

Higher Total Yield (Value for STN: 6.0%)

Best Bets in Industrials

P/EBIT (Value for STN: 13.3x)

P/E (Value for STN: 20.3x)

Rev Chg 3Y Avg (Value for STN: 12.8%)

Rev Chg LTM (Value for STN: 8.6%)

Rev Chg Q (Value for STN: 8.0%)

FCF/Rev 3Y Avg (Value for STN: 7.7%)

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Market Price (3/30/2026): $85.43 | Market Cap: $9.7 Bil
Sector: Industrials | Industry: Construction & Engineering

Market Price (3/30/2026): $85.43
Market Cap: $9.7 Bil
Sector: Industrials
Industry: Construction & Engineering