Buy Canadian With This Stock Set to Outperform Global Markets

WSP Global stock is down 26% from its 52-week high. Here’s why this Canadian engineering giant looks like a compelling buy right now.

Key Points
  • WSP Global stock is down 26% from its 52-week high, creating a rare entry point into one of Canada's most consistently excellent companies.
  • The company grew net revenues by 15%, adjusted EBITDA by 17%, and adjusted net earnings per share by 19% in 2025, capping off a record-breaking year.
  • With a record backlog of $17 billion and a newly raised EBITDA outlook for 2026, the growth story remains intact.

WSP Global (TSX: WSP) is one of Canada’s largest companies, valued at a market cap of $28.5 billion. The Montreal-headquartered engineering and consulting giant has compounded shareholder wealth for years, and right now, it is sitting 26% below its 52-week high.

This is not a distressed company but a world-class operator trading at a discount. If you have been waiting for a reason to buy the blue-chip TSX stock, the pullback just handed you one.

Engineers walk through a facility.

Source: Getty Images

WSP Global delivered one of its best years on record

Let’s look at how WSP performed in 2025, because the numbers tell you everything you need to know about the quality of this business.

  • It reported revenue of $18 billion, up 13% year over year.
  • Net sales rose 15% to $14 billion, while adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) increased 17% to $2.6 billion.
  • Its adjusted earnings per share grew 19% while free cash flow soared to a record of $1.7 billion.

The company also closed out 2025 with a record backlog of $17 billion, which is roughly 11 months of net revenue. WSP’s orders are locked in, and near-term revenue is predictable.

Chief Financial Officer Alain Michaud said at the May 2026 annual shareholder meeting that WSP is reconfirming its 2026 financial outlook and raising its adjusted EBITDA range to between $3.05 billion and $3.18 billion.

The strategic bets WSP is winning right now

Over the past 18 months, management has made a series of acquisitions aimed at expanding the company’s footprint.

The acquisition of POWER Engineers in 2024 has already exceeded expectations, generating sustained organic growth. In February 2026, WSP completed the acquisition of TRC, a U.S. energy sector leader with 8,000 professionals and a full-lifecycle infrastructure platform.

Energy transition is one of the most significant investment themes of this decade. Governments and corporations around the world are spending enormous sums on grid modernization, clean energy infrastructure, and water security. WSP is now one of the dominant players in that space.

The Canadian behemoth also acquired Ricardo, a global engineering consulting firm with deep expertise in rail, air quality, and energy policy. Ricardo operates in more than 20 countries, strengthening WSP’s presence in the United Kingdom, Australia, and the Netherlands.

President and CEO Alexandre L’Heureux, speaking at the annual meeting, was deliberate about how WSP approaches artificial intelligence. WSP serves clients on infrastructure decisions that carry long-term consequences, where accountability, judgment, and engineering precision cannot be replaced by a chatbot.

Why the pullback is an opportunity

A 26% decline from a 52-week high tends to make investors nervous.

WSP’s organic growth outlook for the next 12 months is between 4% and 7%. That is on top of the revenue being added through acquisitions. The structural tailwinds driving its business, aging infrastructure, urbanization, the energy transition, water security, and digital transformation are not going away.

WSP now employs nearly 83,000 professionals worldwide and holds the number-one position in its core sectors. It has grown from a Quebec-focused engineering firm with under 1,200 employees at its 2006 TSX debut into one of the most respected professional services firms globally.

Analysts tracking the TSX dividend stock forecast revenue to increase from $14 billion in 2025 to $19 billion in 2028. In this period, adjusted earnings per share are projected to expand from $9.58 to $15.43.

If the TSX stock is priced at 20 times forward earnings, which is below its 10-year average of 24 times, it could return around 45% within the next two years.

For Canadian investors looking for a high-quality, globally diversified business with real momentum, WSP Global deserves a spot at the top of your watchlist right now.

Fool contributor Aditya Raghunath has no position in any of the stocks mentioned. The Motley Fool recommends WSP Global. The Motley Fool has a disclosure policy.

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