Review of Stantec Inc

JUN 12, 2025 - The company is benefiting from secular tailwinds like aging infrastructure, water security, and energy transition. It has a strong track record of organic growth and strategic acquisitions, and it has a solid pipeline of acquisitions along with a high backlog. It trades at a premium valuation to its peers, but we feel this is reflective of its operational performance, margin expansion, and long term tailwinds. While we feel that its price may need to move sideways in the intermediate term to help its multiples contract, we are upgrading the name by one notch to a ‘A-’ due to its strong track record of execution.

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WSP Global Inc. (WSP $226.35)
- $226.35 P/E (TTM): 30.74X Cap: $30.95B
- View WSP Profile
- View Questions on WSP
- View Reports on WSP
Stantec Inc. (STN $125.36)
- $125.36 P/E (TTM): 29.45X Cap: $14.33B
- View STN Profile
- View Questions on STN
- View Reports on STN
Aecon Group Inc. (ARE $56.03)
- $56.03 P/E (TTM): 259.38X Cap: $3.76B
- View ARE Profile
- View Questions on ARE
Bird Construction Inc. (BDT $55.71)
- $55.71 P/E (TTM): 49.13X Cap: $3.05B
- View BDT Profile
- View Questions on BDT

Q: Hi Peter & 5i Team,

If one owned these four Industrial stocks: ARE, STN, WSP, and BDT, please rank them (BUY more, SELL and HOLD). Briefly comment on the rationale for each.

As always, many thanks for your assistance.

Read Answer Asked by Jerry on May 05, 2026

WSP Global Inc. (WSP $226.35)
- $226.35 P/E (TTM): 30.74X Cap: $30.95B
- View WSP Profile
- View Questions on WSP
- View Reports on WSP
Stantec Inc. (STN $125.36)
- $125.36 P/E (TTM): 29.45X Cap: $14.33B
- View STN Profile
- View Questions on STN
- View Reports on STN
Bird Construction Inc. (BDT $55.71)
- $55.71 P/E (TTM): 49.13X Cap: $3.05B
- View BDT Profile
- View Questions on BDT

Q: Hi Peter & 5i Team,

I know that you like stocks with momentum. In the Industrials sector, our major holdings are WSP, which has been held for a long time, and STN, held for less time, and I'm somewhat disappointed in its performance. Please comment on these three possible scenarios:

(1) Wait until May 13 when BDT and STN post their earnings. BDT is presently displaying excellent momentum. If prudent, sell some or all of STN to deploy into BDT.

(2) Realizing that WSP is currently under pressure and trading at a reasonable price, sell some or all of STN to deploy into WSP.

(3) Perhaps 5i may have a better idea.

Thanks as always for your valuable insight.

Read Answer Asked by Jerry on April 22, 2026

WSP Global Inc. (WSP $226.35)
- $226.35 P/E (TTM): 30.74X Cap: $30.95B
- View WSP Profile
- View Questions on WSP
- View Reports on WSP
Stantec Inc. (STN $125.36)
- $125.36 P/E (TTM): 29.45X Cap: $14.33B
- View STN Profile
- View Questions on STN
- View Reports on STN
Aecon Group Inc. (ARE $56.03)
- $56.03 P/E (TTM): 259.38X Cap: $3.76B
- View ARE Profile
- View Questions on ARE
Bird Construction Inc. (BDT $55.71)
- $55.71 P/E (TTM): 49.13X Cap: $3.05B
- View BDT Profile
- View Questions on BDT

Q: Looking at some of the construction/engineering stocks. Since early summer of 2023, the larger companies STN and WSP are up about 50% and 30% respectively, but the smaller companies ARE and BDT have been massive winners, as ARE is roughly 4 times what it was then, and BDT is roughly 6 times what it was, gains of about 300% and 500%. Is the vast outperformance from ARE and BDT just a case of smaller companies being able to grow faster, or is there something fundamentally different in their businesses? Dol you think that ARE and BDT will continue to outperform STN and WSP?

Read Answer Asked by Dan on April 15, 2026