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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CGI Inc. Class A Subordinate Voting Shares (GIB.A $127.02)
- $127.02 P/E (TTM): 16.78X Cap: $28.50B
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WSP Global Inc. (WSP $278.81)
- $278.81 P/E (TTM): 45.64X Cap: $36.39B
- View WSP Profile
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Stantec Inc. (STN $155.94)
- $155.94 P/E (TTM): 41.53X Cap: $17.78B
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Q: I currently hold GIB shares, have held it for a while and done well with it. Share price have drifting lower since beg of year and am thinking of selling and replacing with another consulting company such as atkinsrealis, wsp. What do you think and what would be a possible replacement with higher potential. Thank you

Read Answer Asked by Mario on September 22, 2025

WSP Global Inc. (WSP $278.81)
- $278.81 P/E (TTM): 45.64X Cap: $36.39B
- View WSP Profile
- View Questions on WSP
- View Reports on WSP
Stantec Inc. (STN $155.94)
- $155.94 P/E (TTM): 41.53X Cap: $17.78B
- View STN Profile
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- View Reports on STN

Q: What would be a good entry price for WSP and STN? The P/E ratio around 44 is... "intimidating". Are these names likely to continue being expensive going forward? Thanks.

Read Answer Asked by Robert on August 11, 2025

WSP Global Inc. (WSP $278.81)
- $278.81 P/E (TTM): 45.64X Cap: $36.39B
- View WSP Profile
- View Questions on WSP
- View Reports on WSP
Stantec Inc. (STN $155.94)
- $155.94 P/E (TTM): 41.53X Cap: $17.78B
- View STN Profile
- View Questions on STN
- View Reports on STN

Q: Hi Peter and Team,

Thanks to 5i’s suggestion a while ago, our holdings in WSP have grown substantially. Recently, we initiated a small position in STN, which currently appears to have better momentum than WSP.

Since 5i approves of holding both, if this was YOUR portfolio, would you sell enough WSP to balance STN and WSP at 50/50?

Thanks as always for your guidance.

Read Answer Asked by Jerry on July 30, 2025