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Badger Daylighting

TSX:BAD
Snowflake Description

Flawless balance sheet with solid track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BAD
TSX
CA$1B
Market Cap
  1. Home
  2. CA
  3. Capital Goods
Company description

Badger Daylighting Ltd. provides non-destructive excavating and related services in Canada and the United States. The last earnings update was 36 days ago. More info.


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BAD Share Price and Events
7 Day Returns
-4.8%
TSX:BAD
-0%
CA Construction
-1.3%
CA Market
1 Year Returns
17.1%
TSX:BAD
-8.2%
CA Construction
-11.4%
CA Market
BAD Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Badger Daylighting (BAD) -4.8% 1.1% 14.3% 17.1% 30.2% 8.8%
CA Construction -0% -1.3% -9.1% -8.2% 19.5% 19.6%
CA Market -1.3% -4.5% -10.6% -11.4% 12.6% 3.3%
1 Year Return vs Industry and Market
  • BAD outperformed the Construction industry which returned -8.2% over the past year.
  • BAD outperformed the Market in Canada which returned -11.4% over the past year.
Price Volatility
BAD
Industry
5yr Volatility vs Market

BAD Value

 Is Badger Daylighting undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Badger Daylighting to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Badger Daylighting.

TSX:BAD Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.5%
Perpetual Growth Rate 10-Year CA Government Bond Rate 2.3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:BAD
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 7.7%
Construction Unlevered Beta Simply Wall St/ S&P Global 0.88
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.884 (1 + (1- 26.5%) (8%))
0.936
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.94
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.34% + (0.936 * 7.66%)
9.51%

Discounted Cash Flow Calculation for TSX:BAD using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Badger Daylighting is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

TSX:BAD DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (CAD, Millions) 36.55 63.77 69.43 75.59 82.30
Source Analyst x2 Analyst x3 Est @ 8.88% Est @ 8.88% Est @ 8.88%
Present Value
Discounted (@ 9.51%)
33.38 53.17 52.86 52.56 52.25
Present value of next 5 years cash flows CA$244.22
TSX:BAD DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= CA$82.30 × (1 + 2.34%) ÷ (9.51% – 2.34%)
CA$1,174.44
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= CA$1,174.44 ÷ (1 + 9.51%)5
CA$745.64
TSX:BAD Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= CA$244.22 + CA$745.64
CA$989.86
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$989.86 / 37.10
CA$26.68
TSX:BAD Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$26.68
Current discount Discount to share price of CA$31.43
= -1 x (CA$31.43 - CA$26.68) / CA$26.68
-17.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Badger Daylighting is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Badger Daylighting's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Badger Daylighting's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:BAD PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in CAD CA$2.04
TSX:BAD Share Price ** TSX (2018-12-17) in CAD CA$31.43
Canada Construction Industry PE Ratio Median Figure of 7 Publicly-Listed Construction Companies 16.06x
Canada Market PE Ratio Median Figure of 551 Publicly-Listed Companies 13.2x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Badger Daylighting.

TSX:BAD PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:BAD Share Price ÷ EPS (both in CAD)

= 31.43 ÷ 2.04

15.43x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Badger Daylighting is good value based on earnings compared to the CA Construction industry average.
  • Badger Daylighting is overvalued based on earnings compared to the Canada market.
Price based on expected Growth
Does Badger Daylighting's expected growth come at a high price?
Raw Data
TSX:BAD PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 15.43x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
12.2%per year
Canada Construction Industry PEG Ratio Median Figure of 5 Publicly-Listed Construction Companies 1.05x
Canada Market PEG Ratio Median Figure of 265 Publicly-Listed Companies 0.89x

*Line of best fit is calculated by linear regression .

TSX:BAD PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 15.43x ÷ 12.2%

1.27x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Badger Daylighting is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Badger Daylighting's assets?
Raw Data
TSX:BAD PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in CAD CA$9.58
TSX:BAD Share Price * TSX (2018-12-17) in CAD CA$31.43
Canada Construction Industry PB Ratio Median Figure of 12 Publicly-Listed Construction Companies 1.75x
Canada Market PB Ratio Median Figure of 2,286 Publicly-Listed Companies 1.38x
TSX:BAD PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:BAD Share Price ÷ Book Value per Share (both in CAD)

= 31.43 ÷ 9.58

3.28x

* Primary Listing of Badger Daylighting.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Badger Daylighting is overvalued based on assets compared to the CA Construction industry average.
X
Value checks
We assess Badger Daylighting's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Construction industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Construction industry average (and greater than 0)? (1 check)
  5. Badger Daylighting has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

BAD Future Performance

 How is Badger Daylighting expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
12.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Badger Daylighting expected to grow at an attractive rate?
  • Badger Daylighting's earnings growth is expected to exceed the low risk savings rate of 2.3%.
Growth vs Market Checks
  • Badger Daylighting's earnings growth is positive but not above the Canada market average.
  • Badger Daylighting's revenue growth is expected to exceed the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:BAD Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:BAD Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 12.2%
TSX:BAD Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 11.4%
Canada Construction Industry Earnings Growth Rate Market Cap Weighted Average 30.8%
Canada Construction Industry Revenue Growth Rate Market Cap Weighted Average 5.7%
Canada Market Earnings Growth Rate Market Cap Weighted Average 16.5%
Canada Market Revenue Growth Rate Market Cap Weighted Average 7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:BAD Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:BAD Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 735 157 92 3
2019-12-31 668 135 82 4
2018-12-31 591 119 69 4
TSX:BAD Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2018-09-30 571 109 76
2018-06-30 544 104 66
2018-03-31 520 102 70
2017-12-31 499 87 66
2017-09-30 476 72 42
2017-06-30 448 71 38
2017-03-31 416 81 29
2016-12-31 404 79 29
2016-09-30 394 84 42
2016-06-30 393 89 47
2016-03-31 391 93 31
2015-12-31 405 100 38

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Badger Daylighting's earnings are expected to grow by 12.2% yearly, however this is not considered high growth (20% yearly).
  • Badger Daylighting's revenue is expected to grow by 11.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:BAD Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Badger Daylighting Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:BAD Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 2.48 2.61 2.35 2.00
2019-12-31 2.23 2.35 2.07 3.00
2018-12-31 1.69 1.69 1.69 1.00
TSX:BAD Past Financials Data
Date (Data in CAD Millions) EPS *
2018-09-30 2.04
2018-06-30 1.78
2018-03-31 1.89
2017-12-31 1.77
2017-09-30 1.13
2017-06-30 1.02
2017-03-31 0.78
2016-12-31 0.78
2016-09-30 1.13
2016-06-30 1.27
2016-03-31 0.83
2015-12-31 1.04

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Badger Daylighting will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Badger Daylighting's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Badger Daylighting has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

BAD Past Performance

  How has Badger Daylighting performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Badger Daylighting's growth in the last year to its industry (Construction).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Badger Daylighting's year on year earnings growth rate has been positive over the past 5 years.
  • Badger Daylighting's 1-year earnings growth exceeds its 5-year average (80.2% vs 9.2%)
  • Badger Daylighting's earnings growth has exceeded the CA Construction industry average in the past year (80.2% vs 44.3%).
Earnings and Revenue History
Badger Daylighting's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Badger Daylighting Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:BAD Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 571.32 75.59 35.46
2018-06-30 543.51 66.10 35.06
2018-03-31 519.66 70.23 23.43
2017-12-31 499.24 65.85 22.89
2017-09-30 475.64 41.96 21.51
2017-06-30 447.91 37.71 20.97
2017-03-31 416.19 28.94 24.36
2016-12-31 404.20 28.91 22.05
2016-09-30 394.37 42.05 20.46
2016-06-30 392.63 47.20 15.36
2016-03-31 391.09 30.71 15.39
2015-12-31 404.62 38.49 15.47
2015-09-30 411.91 35.05 13.12
2015-06-30 413.60 34.03 12.53
2015-03-31 423.89 58.82 7.62
2014-12-31 422.22 53.10 13.94
2014-09-30 408.11 47.29 19.91
2014-06-30 382.53 42.99 26.18
2014-03-31 355.46 38.11 30.93
2013-12-31 324.59 40.36 25.72
2013-09-30 299.60 37.02 21.28
2013-06-30 274.02 33.15 17.72
2013-03-31 254.35 29.92 15.64
2012-12-31 239.23 28.05 14.06
2012-09-30 226.53 28.87 13.92
2012-06-30 218.42 29.12 12.92
2012-03-31 207.24 27.54 12.48
2011-12-31 194.18 25.80 11.97

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Badger Daylighting has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Badger Daylighting used its assets more efficiently than the CA Construction industry average last year based on Return on Assets.
  • Badger Daylighting's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Badger Daylighting's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Construction industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Badger Daylighting has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

BAD Health

 How is Badger Daylighting's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Badger Daylighting's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Badger Daylighting is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Badger Daylighting's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Badger Daylighting's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 2.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Badger Daylighting Company Filings, last reported 2 months ago.

TSX:BAD Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 355.37 97.09 23.71
2018-06-30 337.23 98.76 37.23
2018-03-31 327.37 96.71 50.91
2017-12-31 318.49 94.09 46.11
2017-09-30 291.34 93.60 32.43
2017-06-30 285.25 97.33 44.25
2017-03-31 278.11 99.92 58.94
2016-12-31 279.07 100.70 62.88
2016-09-30 272.19 98.37 46.08
2016-06-30 262.84 97.57 40.16
2016-03-31 260.13 97.28 31.47
2015-12-31 267.69 103.85 24.99
2015-09-30 246.90 100.43 6.68
2015-06-30 225.91 101.51 5.24
2015-03-31 241.23 130.09 13.05
2014-12-31 224.25 124.36 19.15
2014-09-30 204.23 116.79 10.64
2014-06-30 184.18 95.80 3.35
2014-03-31 177.47 94.92 2.37
2013-12-31 171.07 82.32 8.62
2013-09-30 159.99 55.72 1.54
2013-06-30 153.17 44.03 3.12
2013-03-31 144.49 40.46 1.63
2012-12-31 139.71 29.77 2.46
2012-09-30 133.77 26.18 3.66
2012-06-30 131.79 45.21 31.81
2012-03-31 91.72 53.61 4.05
2011-12-31 89.38 46.55 2.62
  • Badger Daylighting's level of debt (27.3%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (35% vs 27.3% today).
  • Debt is well covered by operating cash flow (112.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 18.8x coverage).
X
Financial health checks
We assess Badger Daylighting's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Badger Daylighting has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

BAD Dividends

 What is Badger Daylighting's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.72%
Current annual income from Badger Daylighting dividends. Estimated to be 1.69% next year.
If you bought CA$2,000 of Badger Daylighting shares you are expected to receive CA$34 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Badger Daylighting's pays a lower dividend yield than the bottom 25% of dividend payers in Canada (2.23%).
  • Badger Daylighting's dividend is below the markets top 25% of dividend payers in Canada (6.38%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:BAD Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
Canada Construction Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 2.5%
Canada Market Average Dividend Yield Market Cap Weighted Average of 330 Stocks 3.8%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.2%
Canada Bottom 25% Dividend Yield 25th Percentile 2.2%
Canada Top 25% Dividend Yield 75th Percentile 6.4%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:BAD Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.54 1.00
2019-12-31 0.54 1.00
2018-12-31 0.51 1.00
TSX:BAD Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2018-12-14 0.540 1.650
2018-11-15 0.540 1.712
2018-10-15 0.540 1.981
2018-09-14 0.540 1.890
2018-08-15 0.540 1.869
2018-07-16 0.540 1.781
2018-06-15 0.540 1.744
2018-05-15 0.540 1.840
2018-04-16 0.540 2.079
2018-03-15 0.456 1.863
2018-02-15 0.456 1.888
2018-01-15 0.456 1.769
2017-12-15 0.456 1.706
2017-11-15 0.456 1.616
2017-10-16 0.456 1.565
2017-09-15 0.456 1.713
2017-08-14 0.456 1.626
2017-07-14 0.396 1.502
2017-06-15 0.396 1.543
2017-05-15 0.396 1.686
2017-04-18 0.396 1.244
2017-03-15 0.396 1.171
2017-02-15 0.396 1.217
2017-01-16 0.396 1.193
2016-12-15 0.396 1.248
2016-11-15 0.396 1.294
2016-10-14 0.396 1.366
2016-09-15 0.396 1.398
2016-07-15 0.396 1.664
2016-06-16 0.396 1.827
2016-05-16 0.396 1.746
2016-04-15 0.360 1.596
2016-03-15 0.360 1.599
2016-02-16 0.360 1.428
2016-01-15 0.360 1.527
2015-12-15 0.360 1.511
2015-11-23 0.360 1.510
2015-10-15 0.360 1.745
2015-08-14 0.360 1.792
2015-07-15 0.360 1.481
2015-06-18 0.360 1.379
2015-05-14 0.360 1.274
2015-03-17 0.360 1.283
2015-02-17 0.360 1.497
2015-01-15 0.360 1.524
2014-12-15 0.360 1.421
2014-11-14 0.360 1.209
2014-10-15 0.360 1.319
2014-09-15 0.360 1.338
2014-08-14 0.360 1.236
2014-07-14 0.360 1.105
2014-06-16 0.360 1.037
2014-05-14 0.360 0.990
2014-04-14 0.360 0.940
2014-04-09 0.360 0.878
2014-02-18 0.360 0.995
2014-01-13 0.360 1.150
2013-12-12 0.360 1.239
2013-11-18 0.360 1.290
2013-10-15 0.360 1.471
2013-09-17 0.360 1.635
2013-08-13 0.360 1.832
2013-07-15 0.360 2.180
2013-06-17 0.360 2.196
2013-05-15 0.360 2.257
2013-04-12 0.360 2.517
2013-03-13 0.360 2.802
2013-02-15 0.360 3.091
2012-12-14 0.360 3.295
2012-11-12 0.360 3.648
2012-10-15 0.340 3.469
2012-09-13 0.340 3.591
2012-08-15 0.340 3.899
2012-06-15 0.340 4.075
2012-05-15 0.340 4.145
2012-04-13 0.340 3.828
2012-03-14 0.340 3.995
2012-02-15 0.340 4.164
2012-01-16 0.340 4.445
2011-12-16 0.340 4.700
2011-11-15 0.340 4.913
2011-10-17 0.340 5.145
2011-09-16 0.340 5.562
2011-08-16 0.340 5.581
2011-07-15 0.340 5.255
2011-06-15 0.340 5.174
2011-05-16 0.340 5.194
2011-04-06 0.340 5.107
2011-03-15 0.340 4.974
2011-02-15 0.340 4.973
2011-01-18 0.340 5.005
2010-11-16 0.420 6.844
2010-10-15 0.420 7.454
2010-08-16 0.420 8.449
2010-07-15 0.420 9.076
2010-06-15 0.420 9.136
2010-05-14 1.260 26.165
2010-04-15 0.420 7.937
2010-03-15 0.420 7.977
2010-02-16 0.420 8.102
2010-01-15 0.420 8.290
2009-12-11 0.420 8.870
2009-11-13 0.420 9.399
2009-10-15 0.420 9.733
2009-09-15 0.420 9.833
2009-08-11 0.420 9.985
2009-05-19 1.260 29.221
2009-04-16 1.260 30.219
2008-12-19 0.420 9.745

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Badger Daylighting's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (4.7x coverage).
X
Income/ dividend checks
We assess Badger Daylighting's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Badger Daylighting afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Badger Daylighting has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

BAD Management

 What is the CEO of Badger Daylighting's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Paul Vanderberg
COMPENSATION CA$1,963,809
AGE 58
TENURE AS CEO 2.3 years
CEO Bio

Mr. Paul J. Vanderberg has been the Chief Executive Officer, President and Director at Badger Daylighting Ltd. since August 15, 2016. Mr. Vanderberg served as the President of Construction Products Distribution at Superior Plus Corp. (formerly, Superior Plus Income Fund) from 2000 to November 14, 2014. He served as the President of The Winroc Corporation., a division of Superior Plus Corp. since 2000. He served as Director of Operations of Gator Gypsum, Inc January to June, 2016. He previously held various executive positions in general management and business development at USG Corporation, a leading building products manufacturer. From 1983 to 1999, he held increasingly senior positions with USG Corporation, with general management responsibilities for operations in the USA, Canada and internationally. Mr. Vanderberg holds a BA and MBA from Michigan State University, and holds the ICD.D designation from the Institute of Corporate Directors.

CEO Compensation
  • Paul's compensation has increased by more than 20% in the past year.
  • Paul's remuneration is about average for companies of similar size in Canada.
Management Team Tenure

Average tenure and age of the Badger Daylighting management team in years:

3.7
Average Tenure
60
Average Age
  • The tenure for the Badger Daylighting management team is about average.
Management Team

Paul Vanderberg

TITLE
President
COMPENSATION
CA$2M
AGE
58
TENURE
2.3 yrs

Jerry Schiefelbein

TITLE
VP of Finance & CFO
COMPENSATION
CA$1M
AGE
60
TENURE
4.5 yrs

John Kelly

TITLE
Chief Operating Officer
COMPENSATION
CA$1M
TENURE
3.9 yrs

David Calnan

TITLE
Secretary & Corporate Director
COMPENSATION
CA$171K
AGE
62
TENURE
25.6 yrs

Liz Peterson

TITLE
Vice President of North American Operations – East
COMPENSATION
CA$769K
TENURE
3.7 yrs

Tim Reiber

TITLE
Vice President of Business Development
COMPENSATION
CA$728K
TENURE
6.5 yrs

Jay Bachman

TITLE
Vice President of Financial Operations & Investor Relations

Tracey Wallace

TITLE
Vice President of Human Resource
TENURE
1.5 yrs

George Chung

TITLE
Vice President of Candian Operations - East
TENURE
1.9 yrs

Mike Tunney

TITLE
Vice President of North American Operations – Central
TENURE
1.9 yrs
Board of Directors Tenure

Average tenure and age of the Badger Daylighting board of directors in years:

3.5
Average Tenure
61.5
Average Age
  • The tenure for the Badger Daylighting board of directors is about average.
Board of Directors

Glen Roane

TITLE
Chair of the Board
COMPENSATION
CA$225K
AGE
61
TENURE
4.1 yrs

Paul Vanderberg

TITLE
President
COMPENSATION
CA$2M
AGE
58
TENURE
2.3 yrs

David Calnan

TITLE
Secretary & Corporate Director
COMPENSATION
CA$171K
AGE
62
TENURE
25.6 yrs

Garry Mihaichuk

TITLE
Independent Director
COMPENSATION
CA$179K
AGE
64
TENURE
9.7 yrs

Bill Lingard

TITLE
Corporate Director
COMPENSATION
CA$163K
AGE
58
TENURE
3.5 yrs

Kay Best

TITLE
Corporate Director
COMPENSATION
CA$171K
AGE
64
TENURE
3.5 yrs

Grant Billing

TITLE
Corporate Director
COMPENSATION
CA$151K
AGE
66
TENURE
3.5 yrs

Bill Derwin

TITLE
Independent Director
AGE
49
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Badger Daylighting insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
07. Dec 18 Buy Timothy Reiber Individual 07. Dec 18 07. Dec 18 225 CA$31.27 CA$7,036
07. Dec 18 Buy Tracey Wallace Individual 07. Dec 18 07. Dec 18 3,160 CA$31.40 CA$99,224
06. Dec 18 Buy Grant Billing Individual 05. Dec 18 05. Dec 18 5,000 CA$30.70 CA$153,500
23. Nov 18 Buy Elizabeth Peterson Individual 20. Nov 18 20. Nov 18 2,164 CA$30.60 CA$66,216
20. Nov 18 Buy Michael Tunney Individual 15. Nov 18 15. Nov 18 2,412 CA$29.88 CA$72,073
06. Sep 18 Buy Timothy Reiber Individual 04. Sep 18 04. Sep 18 200 CA$28.67 CA$5,734
31. Aug 18 Buy Michael Tunney Individual 30. Aug 18 30. Aug 18 2,250 CA$28.82 CA$64,853
24. Aug 18 Buy Timothy Reiber Individual 23. Aug 18 23. Aug 18 150 CA$28.80 CA$4,317
06. Jul 18 Buy Timothy Reiber Individual 25. Jun 18 25. Jun 18 200 CA$24.44 CA$4,888
05. Jul 18 Buy Tracey Wallace Individual 05. Jul 18 05. Jul 18 165 CA$30.28 CA$4,996
22. Jun 18 Buy Michael Tunney Individual 21. Jun 18 21. Jun 18 1,500 CA$31.32 CA$46,984
20. Jun 18 Buy John Kelly Individual 19. Jun 18 19. Jun 18 1,305 CA$30.79 CA$40,187
20. Jun 18 Buy Tracey Wallace Individual 20. Jun 18 20. Jun 18 160 CA$31.12 CA$4,979
12. Jun 18 Buy Wade Wilson Individual 11. Jun 18 11. Jun 18 900 CA$30.20 CA$27,180
06. Jun 18 Buy John Kelly Individual 05. Jun 18 05. Jun 18 1,325 CA$29.77 CA$39,446
29. May 18 Buy John Kelly Individual 29. May 18 29. May 18 865 CA$29.12 CA$25,188
29. May 18 Sell Wade Wilson Individual 29. May 18 29. May 18 -1,000 CA$28.51 CA$-28,514
29. May 18 Buy Wade Wilson Individual 29. May 18 29. May 18 1,000 CA$28.57 CA$28,565
25. May 18 Buy Tracey Wallace Individual 17. May 18 17. May 18 352 CA$28.30 CA$9,961
25. May 18 Buy Wade Wilson Individual 25. May 18 25. May 18 2,000 CA$29.03 CA$58,060
23. May 18 Buy John Kelly Individual 16. May 18 17. May 18 1,075 CA$28.38 CA$30,489
18. May 18 Buy Timothy Reiber Individual 17. May 18 17. May 18 1,300 CA$27.81 CA$36,148
18. May 18 Buy Wade Wilson Individual 18. May 18 18. May 18 2,000 CA$28.18 CA$56,360
16. May 18 Buy Paul Vanderberg Individual 15. May 18 15. May 18 3,500 CA$28.36 CA$99,247
12. Apr 18 Buy Grant Billing Individual 10. Apr 18 10. Apr 18 5,000 CA$25.69 CA$128,450
11. Apr 18 Buy William Lingard Individual 06. Apr 18 06. Apr 18 475 CA$24.54 CA$11,657
X
Management checks
We assess Badger Daylighting's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Badger Daylighting has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

BAD News

External News
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Simply Wall St News

Is Now An Opportune Moment To Examine Badger Daylighting Ltd. (TSE:BAD)?

(TSE:BAD), which is in the construction business, and is based in Canada,. … With many analysts covering the stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price? … Let’s take a look at Badger Daylighting’s outlook and value based on the most recent financial data to see if the opportunity still exists

Simply Wall St -

What You Must Know About Badger Daylighting Ltd's (TSE:BAD) Beta Value

Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market.

Simply Wall St -

Only 4 Days Left To Cash In On Badger Daylighting Ltd (TSE:BAD) Dividend

Badger Daylighting Ltd (TSE:BAD) will be distributing its dividend of CA$0.045 per share on the 14 December 2018, and will start trading ex-dividend in 4 days time on the 29 November 2018. … Below, I'm going to look at the latest data and analyze the stock and its dividend property in further detail. … How I analyze a dividend stock?

Simply Wall St -

Badger Daylighting Ltd (TSE:BAD)'s Return on Capital

and looking to gauge the potential return on investment in Badger Daylighting Ltd (TSE:BAD). … Your equity share is granted in return for the capital provided to the business to operate, and in order for an investment to be successful the business has to create earnings from the funds that make up this capital. … Thus, to understand how your money can grow by investing in Badger Daylighting, you need to look at what the company returns to owners for the use of their capital, which can be done in many ways but today we will use return on capital employed (ROCE)

Simply Wall St -

Should Badger Daylighting Ltd (TSE:BAD) Be Part Of Your Income Portfolio?

Historically, Badger Daylighting Ltd (TSE:BAD) has paid a dividend to shareholders. … Let's take a look at Badger Daylighting in more detail. … Check out our latest analysis for Badger Daylighting

Simply Wall St -

Can Badger Daylighting Ltd (TSE:BAD) Maintain Its Strong Returns?

Our data shows Badger Daylighting has a return on equity of 20% for the last year. … That means that for every CA$1 worth of shareholders' equity, it generated CA$0.20 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

At CA$29.03, Is Badger Daylighting Ltd (TSE:BAD) A Buy?

Badger Daylighting Ltd (TSE:BAD), a construction company based in Canada,. … A question to answer is whether Badger Daylighting's current trading price of CA$29.03 reflective of the actual value of the? … Let’s take a look at Badger Daylighting’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Should You Be Concerned About Badger Daylighting Ltd's (TSE:BAD) Shareholders?

Today, I will be analyzing Badger Daylighting Ltd’s (TSE:BAD) recent ownership structure, an important but not-so-popular subject among individual investors. … Ownership structure has been found to have an impact on shareholder returns in both short- and long-term. … The effect of an active institutional investor with a similar ownership as a passive pension-fund can be vastly different on a company's corporate governance and accountability to shareholders.

Simply Wall St -

How Does Investing In Badger Daylighting Ltd (TSE:BAD) Impact Your Portfolio?

If you are looking to invest in Badger Daylighting Ltd’s (TSE:BAD), or currently own the stock, then you need to understand its beta in order to understand how it can affect the risk of your portfolio. … Generally, an investor should consider two types of risk that impact the market value of BAD. … A popular measure of market risk for a stock is its beta, and the market as a whole represents a beta value of one.

Simply Wall St -

Badger Daylighting Ltd (TSE:BAD): What You Have To Know Before Buying For The Upcoming Dividend

Badger Daylighting Ltd (TSE:BAD) will be distributing its dividend of CA$0.045 per share on the 15 August 2018, and will start trading ex-dividend in 2 days time on the 30 July 2018. … Whenever I am looking at a potential dividend stock investment, I always check these five metrics:? … Has it paid dividend every year without dramatically reducing payout in the past?

Simply Wall St -

BAD Company Info

Map
Description

Badger Daylighting Ltd. provides non-destructive excavating and related services in Canada and the United States. Its Badger Hydrovac technology uses a pressurized water stream to liquefy the soil cover, which is then removed with a vacuum system and deposited into a storage tank. The company offers daylighting services for visual confirmation of buried lines, directional drilling test holes, sacrificial anode installation, pipeline and utility crossings, and subsurface utility engineering test holes applications; potholing; and slot trenching services for perimeter slot trenching, exposing existing cables or conduits, cable or conduit and drain tile installation, and line fault repairs. It also provides pole and piling holes services for utility, traffic signal, and transmission pole holes, as well as light standard and sign post holes; pole removals; end-bearing, pilot holes for friction, and spread footing piles; and well monitor installations applications. In addition, the company offers service repair pits for gas service tie-in, electric cable fault repair, water main and service repair, and telecom splice applications; and debris removal and tank cleanouts services, such as frac tank cleanouts, road and box culvert cleanouts, pipe-rammed casing cleanouts, ballast and filter media removal, and inside structures and buildings material removal. Further, it designs, engineers, and supplies excavation shoring systems; and anode installation services. The company serves the utility, oil and gas, power generation, transportation, industrial, engineering, and construction industries. As of December 31, 2017, it operated a fleet of 1,109 Badger hydrovacs. The company was founded in 1992 and is headquartered in Calgary, Canada.

Details
Name: Badger Daylighting Ltd.
BAD
Exchange: TSX
Founded: 1992
CA$1,214,305,256
37,100,680
Website: http://www.badgerinc.com
Address: Badger Daylighting Ltd.
919 11th Avenue SW,
4th Floor,
Calgary,
Alberta, T2R-1P3,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX BAD Common Shares The Toronto Stock Exchange CA CAD 21. Mar 1996
OTCPK BADF.F Common Shares Pink Sheets LLC US USD 21. Mar 1996
DB 6BD Common Shares Deutsche Boerse AG DE EUR 21. Mar 1996
Number of employees
Current staff
Staff numbers
1,943
Badger Daylighting employees.
Industry
Construction and Engineering
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/12/18 00:14
End of day share price update: 2018/12/17 00:00
Last estimates confirmation: 2018/12/12
Last earnings filing: 2018/11/12
Last earnings reported: 2018/09/30
Last annual earnings reported: 2017/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.