ATRL.TO (ATRL) fair value: what the stock is really worth
We calculate from audited financials what ATRL.TO is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 19, 2026.
How to read this chart
60‑month range C$21.65 – C$105.91 · fair‑value band C$33.88 – C$73.66 · the C$88.05 price screens above the C$49.87 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 19, 2026.
AtkinsRéalis Group Inc., together with its subsidiaries, provides professional services and project management, and capital investment services in the United Kingdom, Canada, the United States, Saudi Arabia, and internationally. It operates through eight segments: Canada, UKI, USLA, AMEA, Nuclear, Linxon, LSTK Projects, and Capital.
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AtkinsRéalis Group Inc., together with its subsidiaries, provides professional services and project management, and capital investment services in the United Kingdom, Canada, the United States, Saudi Arabia, and internationally. It operates through eight segments: Canada, UKI, USLA, AMEA, Nuclear, Linxon, LSTK Projects, and Capital. The company provides consultancy, strategy, advisory, engineering, design, project and program management and project delivery services for building and places, defence, industrial, power and renewables, and transportation and water markets; and operations, maintenance, and asset management solutions for various assets. It also offers services for clients across the nuclear life cycle from consultancy, engineering, procurement and construction management, field, technology, decommissioning, and waste management services, as well as spare parts; and new-build and full refurbishment services for reactors. In addition, the company is involved in installation of alternative current power substations, including expansions and electrification, notably through repetitive engineering, procurement and construction offerings for utilities, renewables and conventional generation, transportation, and data centers markets; and provision of lump-sum turnkey (LSTK) construction contracts for the mass transit projects. Further, it engages in developing projects, arranging financing, investing in equity, undertaking complex financial modeling, and managing its infrastructure investments, such as bridges and highways, mass transit systems, power facilities, energy infrastructure, water treatment plants, and social infrastructure. Additionally, it offers staff augmentation services. The company was formerly known as SNC-Lavalin Group Inc. and changed its name to AtkinsRéalis in September 2023. AtkinsRéalis Group Inc. was founded in 1911 and is headquartered in Montreal, Canada.
Stock analysis
ATRL.TO (ATRL) currently trades at C$88.05, while our model-based Fair Value estimate is C$49.87, implying the stock looks roughly 76.6% overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of C$211.67 per share, and 9 of the 24 models we run sit above the C$88.05 price.
Bear case: the Asset-Based group reads lowest at C$22.65, and 15 of the 24 models stay below the price. Evidence for this calculation is high.
Scenario range: C$33.88 (bear) to C$73.66 (bull), the price of C$88.05 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 62/100 (solid quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
ATRL.TO reported revenue of C$11.0B in FY2025 versus C$7.3B in FY2021, a compound +10.7%/yr. Reported net income was C$2.6B in FY2025, compounding +40.9%/yr from FY2021.
Key figures
Market cap C$15.0B (≈ $10.7B) · P/E ratio 5.7 · P/S ratio 1.36 · EPS (TTM) C$15.58 · Dividend yield 0.1% · Net margin 24.0% · Return on equity 57.0% · Return on assets (EBIT) 2.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).
What moves the price
Analysts expect earnings well below the last reported figure (earnings in transition, for example expiring patents or contracts); a fair value that looks fair on trailing earnings may then be too optimistic.
The share trades about 18% below its 52-week high and 11% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −30% fair-value upside, at −43%, ATRL screens richer than that median.
Fair Value models
Bear C$33.88Fair Value C$49.87Bull C$73.66
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (C$11.27 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+14.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+13.6%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.6%
Revenue growth 29 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.5%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
≈ +40.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+40.3%
Dividend (yield on the price)0.1%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.40% vs 19%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−4% → 6%
⚠ Approximate: the rate leans on 2025, which sits 853% above its own trend.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+24.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+6.7%
Yearly sales growth analysts expect, extended to five years.
News mood ⓘNews mood, the average tone of recent news (98 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Neutral
Recent news coverage is roughly neutral, about typical for how stocks are covered.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Engineering & Construction · 815 stocks
Beats the industry median on 9/15 measures
Overall it ranks above its industry peers.
Valuation
Quality Score62 · Top 25%
Fair Value upside−43% · Below median
Profitability
Return on equity (TTM)57% · Top 25%
Return on assets4% · Above median
Net margin (TTM)23% · Top 25%
Operating margin (TTM)6% · Above median
Growth and dividend
Revenue growth18% · Above median
Dividend yield (TTM)0.1% · Bottom 25%
Balance sheet
Debt / equity0.08× · Below median
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
P/E (TTM)5.7× · Cheapest 25%
P/B1.88× · Pricier than median
P/S (TTM)0.90× · Pricier than median
P/FCF36.4× · Priciest 25%
EV/EBITDA10.1× · Pricier than median
PEG0.69× · Cheaper than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 20
FUTURE (revenue growth)89· sector 14
PAST (return on equity)100· sector 26
HEALTH (low debt)96· sector 94
DIVIDEND (yield)1· sector 39
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "ATRL.TO Fair Value". https://www.fairvalue-calculator.com/stock/ATRL
Frequently asked questions
Is ATRL.TO (ATRL) overvalued or undervalued?
As of Sep 19, 2026, our model estimates a fair value of C$49.87 versus a price of C$88.05, about −43% upside (overvalued).
What is the fair value of ATRL?
Our model-based fair value for ATRL.TO is C$49.87 (as of Sep 19, 2026), built from audited fundamentals. The current price: C$88.05.
What is the quality score of ATRL?
ATRL.TO has a Quality Score of 62/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for ATRL.TO (ATRL)?
Our model-based price target is the fair value of C$49.87 (as of Sep 19, 2026) from 24 valuation models. Cautious scenario C$33.88, optimistic scenario C$73.66. It is a calculation from audited fundamentals, not an analyst target.
What is the ATRL.TO stock forecast for 2026?
Our models put fair value at C$49.87, about −43% upside versus a price of C$88.05 (overvalued). Cautious scenario C$33.88, optimistic scenario C$73.66. The calculation is refreshed regularly with new filings.
What is the revenue of ATRL.TO (ATRL)?
ATRL.TO reported trailing-twelve-month revenue of about C$11.5B (latest available figure, as of Sep 19, 2026).
Does ATRL.TO pay a dividend?
ATRL.TO currently shows a dividend yield of about 0.07% relative to its recent price (as of Sep 19, 2026).
What growth is priced into ATRL.TO (ATRL)?
For today's price to be fair in a discounted-cash-flow model, ATRL.TO would have to grow free cash flow by +24.9 % per year for five years (discount rate 8.9 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +9.6 % per year. As of Sep 19, 2026.
What discount rate (WACC) does the fair value of ATRL use?
Our models discount ATRL.TO at 8.9 %: a base by market capitalisation (large), damped by beta 0.95, country premium for Canada. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For ATRL.TO that is +24.9 % per year a year over ten years, using the same discount rate (8.9 %) and the same formula as our fair value.
How much growth has ATRL.TO (ATRL) delivered so far?
Over the past 5 years revenue at ATRL.TO grew +9.6 % a year. The price currently implies +24.9 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of ATRL.TO (ATRL) growing?
The median revenue growth in the sector is +4.6 % a year. That is the yardstick for the growth priced into ATRL.TO (+24.9 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of ATRL.TO (ATRL)?
The free-cash-flow yield on the price is 1.90 %: that much free cash flow ATRL.TO produces per unit of market value. When it exceeds the discount rate of our models (8.9 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of ATRL.TO (ATRL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ATRL.TO it is C$49.87 per share (as of Sep 19, 2026), against a price of C$88.05. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is ATRL.TO stock overvalued or undervalued in 2026?
As of Sep 19, 2026, ATRL trades above its calculated fair value: price C$88.05, fair value C$49.87, a gap of about −43% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ATRL?
No. The price is what the market pays today (C$88.05); the fair value is what the company's own numbers justify (C$49.87). For ATRL.TO the two are C$38.18 per share apart. That gap is exactly why we show both numbers side by side.
How much is ATRL.TO worth?
The market values ATRL.TO at about C$15.0B (market capitalisation, as of Sep 19, 2026). Per share that is C$88.05; our models calculate a fair value of C$49.87 per share.
What do the bullish and bearish scenarios say about ATRL?
Our models span a range for ATRL.TO: cautious scenario C$33.88, base C$49.87, optimistic C$73.66 per share (as of Sep 19, 2026, price C$88.05). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ATRL?
ATRL.TO trades at a price-to-earnings ratio of 5.7 (as of Sep 19, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of C$49.87 is built from several models across several years. Other multiples: PEG 0.7, P/B 1.9, P/S 0.9, EV/EBITDA 10.1.
What is the PEG ratio of ATRL?
The PEG ratio of ATRL.TO is 0.69 (P/E divided by earnings growth, as of Sep 19, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of ATRL.TO (ATRL)?
Balance-sheet figures for ATRL.TO (as of Sep 19, 2026): return on equity 57.0%, debt of 0.08 per unit of equity. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is ATRL from its 52-week high?
ATRL.TO trades at C$88.05, about 18% below its 52-week high of C$106.77 and 11% above the low of C$79.37 (as of Sep 19, 2026). Distance from the high says nothing about value: that is what the fair value of C$49.87 is for.
Which stocks are comparable to ATRL.TO?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is ATRL.TO stock attractive at the current price?
The data as of Sep 19, 2026: price C$88.05, calculated fair value C$49.87 (−43%), Quality Score 62/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ATRL calculated?
We run ATRL.TO through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of C$49.87, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 16.1 % above its aggregate fair value. ATRL.TO itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of ATRL.TO (ATRL)?
The closing price on Sep 18, 2026 was C$88.05. Our model-based fair value is C$49.87, about −43% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with ATRL.TO right now?
The price sits above even our optimistic bull case (C$73.66). The favourable scenario is already priced in. Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (C$33.88 to C$73.66) leaves room in how you read the outcome.
Where does the earnings growth of ATRL.TO (ATRL) come from?
Earnings per share at ATRL.TO grew +3.8 % a year from 2014 to 2025. Broken into its drivers: revenue per share −0.2 %, EBIT margin +5.5 %, tax rate +0.5 %, residual (interest, one-offs) −1.9 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of ATRL.TO
How large is the market capitalisation of ATRL.TO (ATRL)?
The market capitalisation of ATRL.TO is C$15.0B (≈ $10.7B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of ATRL.TO (ATRL)?
The price-to-sales ratio of ATRL.TO is 1.36 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of ATRL.TO (ATRL)?
Earnings per share at ATRL.TO are C$15.58 (price ÷ EPS = P/E 5.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of ATRL.TO (ATRL)?
The dividend yield of ATRL.TO is 0.1% (payout 0.4%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of ATRL.TO (ATRL)?
The net margin of ATRL.TO is 24.0% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of ATRL.TO (ATRL)?
The return on equity (ROE) of ATRL.TO is 57.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of ATRL.TO (ATRL)?
On an EBIT basis the return on assets of ATRL.TO is 2.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of ATRL.TO (ATRL)?
The operating margin of ATRL.TO is 5.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at ATRL.TO (ATRL)?
Revenue at ATRL.TO is growing +17.8% versus a year earlier (3y avg +13.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at ATRL.TO (ATRL)?
Earnings per share at ATRL.TO are growing +43.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does ATRL.TO (ATRL) carry?
The net debt of ATRL.TO is C$558M (fiscal year 2025, ≈ 2.0 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Sep 19, 2026