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Dec 31, 2025
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Stantec Inc Q4 2025 Earnings Report
Stantec Inc reported strong fourth quarter 2025 results with double-digit net revenue growth and margin expansion, while net income declined slightly due to higher amortization expenses.
Key Takeaways
In Q4 2025, Stantec delivered 10.9% net revenue growth to 1639700000, driven by both organic and acquisition growth. Adjusted EBITDA rose 15.0% to 283500000 with margin expansion to 17.3%, while net income declined 4.2% to 93900000 due to higher amortization of intangible assets.
Net revenue increased 10.9% year-over-year to 1639700000, driven by 3.9% organic growth and 6.5% acquisition growth.
Adjusted EBITDA rose 15.0% to 283500000, with margin expanding 60 basis points to 17.3%.
Net income declined 4.2% to 93900000 primarily due to higher amortization from acquisitions.
Adjusted EPS increased 12.6% to 1.25, reflecting improved operational performance.
Revenue by Geographic Location
Forward Guidance
For 2026, Stantec expects net revenue growth of 8.5% to 11.5%, adjusted EBITDA margin expansion to 17.6% to 18.2%, and adjusted EPS growth of 15% to 18%.
Positive Outlook
- Net revenue growth targeted at 8.5% to 11.5%.
- Adjusted EBITDA margin expected between 17.6% and 18.2%.
- Adjusted EPS growth projected at 15% to 18%.
- Adjusted ROIC expected above 13%.
- Mid- to high-single-digit organic growth expected across regions.
Challenges Ahead
- Adjusted EBITDA margin in Q1 and Q4 expected near or below low end due to seasonality.
- Effective tax rate projected between 23% and 25%.
- Net debt to adjusted EBITDA expected between 1.0x and 2.0x.
- Capital expenditures expected at 1.4% to 1.8% of net revenue.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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