Stantec Posts Record $6.5B Net Revenue and 17.9% EBITDA Margin
Stantec delivered record 2025 net revenue of $6.5 billion, up 11%, and raised adjusted EBITDA 17% to a 17.9% margin, hitting its strategic target a year early. The company finished with a CAD 8.6 billion backlog, boosted its dividend by 8.9% to CAD 0.98, and forecast 8.5–11.5% revenue growth with 17.6–18.2% EBITDA margin.
1. Record 2025 Financial Performance
Stantec reported $6.5 billion net revenue, up 11%, and adjusted EBITDA increased 17% to a record margin of 17.9%, while adjusted EPS hit CAD 5.30, enabling the firm to achieve its 2024–2026 margin target a year ahead of schedule.
2. Backlog and Capital Returns
The firm closed 2025 with a record CAD 8.6 billion contract backlog, up 9.5% year over year, representing roughly 13 months of work. It also approved an 8.9% dividend increase to CAD 0.98 per share and flagged potential share buybacks.
3. 2026 Financial Outlook
Management guided 2026 net revenue growth of 8.5–11.5%, an adjusted EBITDA margin of 17.6–18.2%, and adjusted EPS growth of 15–18%, driven by continued demand in water, mission-critical facilities, data centers and the energy transition, with M&A remaining a key growth lever.
4. Regional and Segment Highlights
U.S. net revenue rose nearly 11%, led by a 30% jump in the buildings business and growth in data centers and mission-critical projects. Canada saw double-digit organic growth in water and energy, while global operations delivered double-digit organic gains in water, mining, and German infrastructure.