$STN

STANTEC INC

CIK:0001131383|SEC Filings

Consolidated Statements of Income - CAD ($) $ in Millions	12 Months Ended
Consolidated Statements of Income - CAD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Profit or loss [abstract]
Gross revenue	$ 8,144.2	$ 7,500.0
Less subconsultant and other direct expenses	1,649.4	1,633.4
Net revenue	6,494.8	5,866.6
Direct payroll costs	2,965.8	2,670.9
Project margin	3,529.0	3,195.7
Administrative and marketing expenses	2,457.5	2,286.1
Depreciation of property and equipment	70.6	67.7
Depreciation of lease assets	133.6	127.1
Amortization of intangible assets	147.5	123.8
Net impairment of lease assets and property and equipment	6.0	34.9
Net interest expense and other net finance expense	102.0	104.4
Other income	(18.2)	(13.6)
Income before income taxes	630.0	465.3
Income taxes
Current	122.7	146.2
Deferred	27.9	(42.4)
Total income taxes	150.6	103.8
Net income	$ 479.4	$ 361.5
Weighted average number of shares outstanding - basic (in shares)	114,066,995	114,066,995
Weighted average number of shares outstanding - diluted (in shares)	114,066,995	114,066,995
Earnings per share, basic (in cad per share)	$ 4.20	$ 3.17
Earnings per share, diluted (in cad per share)	$ 4.20	$ 3.17

Consolidated Statements of Cash Flows - CAD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
OPERATING ACTIVITIES
Net income	$ 479.4	$ 361.5
Add (deduct) items not affecting cash:
Amortization of intangible assets	147.5	123.8
Net impairment of lease assets and property and equipment	6.0	34.9
Deferred income taxes	27.9	(42.4)
Share-based compensation	40.3	43.0
Provisions	78.4	65.3
Other non-cash items	1.6	(1.6)
Cash flows from (used in) operations before changes in working capital	985.3	779.3
Trade and other receivables	124.9	(123.7)
Unbilled receivables	(34.9)	(44.3)
Contract assets	4.8	(27.2)
Prepaid expenses	3.3	3.4
Income taxes net recoverable	(72.9)	27.7
Trade and other payables and other accruals	(108.7)	(59.6)
Deferred revenue	(38.9)	47.5
Increase (decrease) in working capital	(122.4)	(176.2)
Net cash flows from operating activities	862.9	603.1
INVESTING ACTIVITIES
Business acquisitions, net of cash acquired	(454.0)	(555.0)
Purchase of investments held for self-insured liabilities	(92.5)	(40.0)
Proceeds from sale of investments held for self-insured liabilities	82.0	73.8
Purchase of property and equipment and intangible assets	(71.9)	(99.0)
Other	2.3	15.2
Net cash flows used in investing activities	(534.1)	(605.0)
FINANCING ACTIVITIES
Net proceeds from issue of senior unsecured notes	422.8	0.0
Net (repayment of) proceeds from revolving credit facilities	(241.1)	175.0
Repayment of notes payable and other financing obligations	(82.7)	(101.1)
Net proceeds from (repayment of) bank indebtedness	12.0	(7.9)
Net lease payments	(149.5)	(124.1)
Payment of dividends to shareholders	(101.0)	(94.0)
Net cash flows used in financing activities	(139.5)	(152.1)
Foreign exchange (loss) gain on cash held in foreign currency	(19.7)	29.6
Net increase (decrease) in cash and cash equivalents	169.6	(124.4)
Cash and cash equivalents, beginning of the year	228.5	352.9
Cash and cash equivalents, end of the year	398.1	228.5
Property and equipment
Add (deduct) items not affecting cash:
Depreciation	70.6	67.7
Lease assets
Add (deduct) items not affecting cash:
Depreciation	$ 133.6	$ 127.1

Consolidated Statements of Financial Position - CAD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Current
Cash and cash equivalents	$ 398.1	$ 228.5
Trade and other receivables	1,306.5	1,323.8
Unbilled receivables	761.6	724.5
Contract assets	111.2	116.0
Income taxes recoverable	127.5	64.4
Prepaid expenses	66.7	64.3
Other assets	19.2	27.5
Total current assets	2,790.8	2,549.0
Non-current
Property and equipment	308.4	299.0
Lease assets	545.4	474.3
Goodwill	3,221.8	2,712.5
Intangible assets	594.5	427.0
Net employee defined benefit asset	87.4	75.0
Deferred tax assets	115.4	119.3
Other assets	293.2	300.0
Total assets	7,956.9	6,956.1
Current
Bank indebtedness	29.6	17.1
Trade and other payables	1,125.3	1,018.7
Lease liabilities	113.6	113.6
Deferred revenue	581.7	502.4
Income taxes payable	26.5	32.3
Long-term debt	291.0	175.0
Provisions	46.5	66.4
Other liabilities	51.8	53.5
Total current liabilities	2,266.0	1,979.0
Non-current
Lease liabilities	585.4	528.6
Long-term debt	1,527.3	1,208.5
Provisions	191.2	167.9
Net employee defined benefit liability	18.9	22.4
Deferred tax liabilities	72.6	63.6
Other liabilities	55.1	41.0
Total liabilities	4,716.5	4,011.0
Shareholders’ equity
Total shareholders’ equity	3,240.4	2,945.1
Total liabilities and equity	$ 7,956.9	$ 6,956.1