WSP Global Inc (WSPOF) Stock Price & How to Invest
Last updated October 2026
Short answer
WSPOF is the U.S. over-the-counter line for WSP Global, a Montreal-based engineering and professional services firm whose main listing is WSP on the Toronto Stock Exchange. Owning it is a bet on long-cycle infrastructure, power and environmental spending plus a serial acquirer's ability to integrate deals. After a ~35% fall in 2026 to about C$162 (roughly US$117 on the OTC line), the shares trade near 9x forward EBITDA.
WSPOF stock price
As of 2026-10-16, WSP Global Inc (WSPOF) last closed at $117.25, down 40.7% over the past year. Over the past 52 weeks it has traded between $113.12 and $202.57.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or WSP Global Inc's investor relations page. Walnut is informational, not investment advice.
What does WSP Global Inc (WSPOF) do?
WSP Global Inc. is one of the world's largest engineering, science and advisory firms, with about 83,000 employees in more than 50 countries. It designs and advises on transportation, buildings, water, environmental services, mining, and power and energy work across Canada, the U.S., Latin America, Europe, the Middle East and Asia Pacific. It is paid professional fees for design, consulting and program management rather than taking on construction risk, which keeps the business asset-light and cash generative. Growth comes from steady organic expansion plus serial acquisitions: Parsons Brinckerhoff in 2014, POWER Engineers in 2024, the UK consultancy Ricardo in October 2025 and TRC Companies, a U.S. power, utility and environmental consultant with about 8,000 staff, in February 2026. WSPOF is an OTC quote for the same ordinary shares, not a sponsored ADR, so one WSPOF share equals one TSX share priced in U.S. dollars.
Second-quarter 2026 results, released August 5, were strong. Net revenues rose ~22.9% to ~C$4.27 billion, with ~5.0% organic growth and the rest from TRC and Ricardo. Adjusted EBITDA climbed ~28.8% to ~C$815 million, a 19.1% margin (up 90 basis points), and adjusted EPS rose to C$2.88 from C$2.35. Backlog reached a record ~C$20.1 billion, about 11.6 months of revenue. Reported net earnings fell to ~C$246 million because of acquisition and integration costs, and leverage rose to 2.3x net debt to adjusted EBITDA after TRC. Management raised 2026 guidance to C$16.2 to C$17.0 billion of net revenue and C$3.10 to C$3.18 billion of adjusted EBITDA.
The share price tells a different story. The stock fell from about C$249 at the start of 2026 to roughly C$162 in mid October, near its 52-week low, as investors questioned whether AI tools will shrink billable engineering hours and de-rated premium-priced industrial names. WSP also made, then withdrew on September 22, an unsolicited approach for Dutch rival Arcadis. The bull case is that grid, data center and public infrastructure spending keeps backlog and margins rising; the bear case is that AI, integration risk and higher debt cap the multiple. Third-quarter results are due November 4, 2026.
What's driving WSP Global Inc (WSPOF)?
1. Power and energy demand
POWER Engineers and TRC turned WSP into one of the largest U.S. engineering platforms for transmission lines, substations, utility programs and energy permitting. Utilities are planning multi-year grid upgrades to serve data centers, manufacturing reshoring and electrification, and that work tends to be awarded as long framework agreements rather than one-off jobs. WSP said TRC's power and energy business grew at a double-digit rate in Q2 2026 compared with its pre-acquisition period, and organic backlog growth of 5.7% over the past twelve months was the strongest pace since 2022. The company held a Power and Energy-focused investor event this autumn, a sign of how central the segment has become to the growth story.
2. Margin expansion through productivity
Adjusted EBITDA margin on net revenue rose about 90 basis points to 19.1% in Q2 2026, which management attributed mainly to productivity gains in the U.S. and Canada. For the first half the margin was 18.0%, up from 17.1% a year earlier, and WSP has said it could reach its 19% to 20% target range as early as 2026. The Q3 outlook of C$850 to C$890 million of adjusted EBITDA on C$4.15 to C$4.35 billion of net revenue implies margins staying around 20% in the seasonally strong quarter. Further gains depend on utilization, pricing and how well TRC and Ricardo are folded into shared back-office systems.
3. Acquisition engine
Acquisitions contributed about 17 percentage points of Q2 2026 net revenue growth, and buying and integrating firms is the company's most consistent lever. TRC was funded partly by a ~C$977.5 million equity offering in December 2025, a pattern WSP has used before with support from Quebec pension fund CDPQ, a long-standing major shareholder. Tuck-ins continue, including the GCM Corpo energy and industrial consulting deal in Canada announced October 1, 2026. The appetite for larger targets is also clear: WSP proposed €48.50 and then €51.50 per share for Arcadis in July 2026, was rejected twice, and withdrew on September 22 rather than go hostile.
4. Public infrastructure spending
Transportation, water and environmental work for governments in Canada, the U.S., the UK, Australia and the Middle East gives WSP a large, publicly funded base that is less exposed to the economic cycle than private construction. These programs often run for a decade or more, from transit expansions to water treatment and flood resilience, and they underpin a backlog of ~C$20.1 billion, up 23.2% year over year. Geographic breadth matters here: weakness in one market, such as slower UK spending or a pause in a provincial budget, has historically been offset elsewhere. Climate adaptation and environmental remediation are adding further demand on top of traditional roads and bridges work.
What are the risks to WSP Global Inc (WSPOF)?
The central debate in 2026 is whether generative AI tools will reduce the hours engineering and design firms bill, which has driven a sector-wide de-rating and roughly a 35% year-to-date drop in WSP shares even as results beat guidance. Integration is a second risk: TRC is the company's largest U.S. deal, Ricardo is still being absorbed, and 2026 acquisition, integration and reorganization cost guidance was raised to C$285 to C$305 million from C$210 to C$230 million. Leverage rose to 2.3x net debt to adjusted EBITDA (net debt of ~C$6.89 billion) from 0.9x at the end of 2025, and management expects to return to its 1.0x to 2.0x target only by year-end. Cash conversion softened, with Q2 free cash flow of ~C$284 million against ~C$457 million a year earlier and days sales outstanding at 71. Repeated equity raises dilute holders, and the Arcadis episode shows an appetite for large deals. For U.S. holders of WSPOF, Canadian dollar moves, thin OTC liquidity and Canadian dividend withholding tax add frictions the TSX line does not have.
Is WSPOF a buy or a sell?
We give no verdict on WSP Global Inc. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.
The case for buying. Power and energy demand. POWER Engineers and TRC turned WSP into one of the largest U.S.
The case against. The central debate in 2026 is whether generative AI tools will reduce the hours engineering and design firms bill, which has driven a sector-wide de-rating and roughly a 35% year-to-date drop in WSP shares even as results beat guidance.
Read the full bull and bear case on WSPOF, including what would have to change to break either one. Walnut is not an investment adviser.
How is WSP Global Inc (WSPOF) valued? (approximate, October 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see WSP Global Inc's investor relations page or your broker.
- Share price (TSX: WSP): ~C$162 (WSPOF ~US$117)
- Market cap / net debt: ~C$22 billion / ~C$6.9 billion
- Net revenue (Q2 2026): ~C$4.27 billion, up ~22.9%
- Adjusted EPS (Q2 2026): C$2.88, up from C$2.35
- Adjusted EBITDA (2026 guidance): ~C$3.10 to C$3.18 billion
- EV / 2026E adjusted EBITDA: ~9x
Figures are in Canadian dollars, WSP's reporting currency, and are approximate as of mid October 2026; the WSPOF price is the TSX price converted to U.S. dollars and can differ slightly because of OTC spreads. With an enterprise value of roughly C$29 billion against the midpoint of 2026 EBITDA guidance, the stock trades near 9x, well below the premium it carried in 2024 and 2025. Trailing P/E on reported earnings is about 23, inflated by acquisition costs. The C$0.375 quarterly dividend yields under 1%, so the return case rests on earnings growth rather than income.
Who competes with WSP Global Inc (WSPOF)?
Global engineering and design consultants
AECOM, Jacobs Solutions, Stantec, Arcadis and Tetra Tech compete directly with WSP for transportation, water, environmental and buildings mandates, often on the same government framework contracts. Stantec is the closest Canadian peer and faces the same AI-disruption debate, while Arcadis became more than a rival in 2026 when WSP made, and then withdrew, two takeover proposals for it.
Power and energy engineering specialists
Burns & McDonnell, Black & Veatch, Sargent & Lundy and the engineering arms of Quanta Services compete for utility, transmission, substation and generation design work. This is the market WSP deliberately targeted by buying POWER Engineers and TRC, and it is where competition for scarce engineers and utility relationships is most intense as grid spending accelerates.
Diversified project and management firms
Fluor, KBR, AtkinsRéalis and Worley overlap with WSP in program management, energy, mining and industrial consulting. Several of them also take on construction or lump-sum project risk that WSP's fee-based model avoids, which makes their earnings lumpier, while AtkinsRéalis competes closely with WSP for Canadian and UK public infrastructure work.
What stocks are similar to WSP Global Inc (WSPOF)?
Other names that sit close to WSPOF: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.
How to invest in WSP Global Inc (WSPOF)
There are three common ways to get WSPOF exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so WSPOF sits alongside other stocks that express the same thesis.
Walnut takes the portfolio route. Describe a thesis where WSPOF fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.
The bottom line on WSP Global Inc (WSPOF)
WSP is posting record backlog and rising margins while its shares sit near a 52-week low on AI and leverage worries, and WSPOF is simply a U.S.-dollar window onto the Toronto-listed stock.
More on WSP Global Inc (WSPOF)
Whether WSPOF is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is WSPOF a buy or a sell?, and where the stock could go from here in the WSPOF stock forecast.
For income investors, whether WSPOF pays a dividend and how the payout looks is covered in does WSPOF pay a dividend? And to weigh WSPOF against a peer, read the full side-by-side comparisons: WSPOF vs ACM and WSPOF vs J.
Wondering how WSPOF fits the portfolio you already own? Walnut is an AI investing app that connects your brokerage read-only and answers questions like that about your actual holdings: overlap, concentration, and how each position tracks the S&P 500. Compare the best AI portfolio analyzers or see the best AI investing apps in 2026.
Investing in WSP Global Inc with AI
Connect the broker you already use and ask Walnut's AI how WSPOF fits what you actually hold: whether you own it already through a fund, what it would do to your concentration, and how it has tracked the S&P 500. Read-only by default, and you approve anything before it reaches your broker.
FAQ
What is WSPOF?
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WSPOF is the U.S. over-the-counter ticker for WSP Global Inc., a Montreal-headquartered engineering, science and advisory firm with about 83,000 employees in more than 50 countries. The company's primary listing is WSP on the Toronto Stock Exchange, where most trading volume happens and where its financial results are reported in Canadian dollars. WSPOF exists so that U.S. investors and brokers can quote the same ordinary shares in U.S. dollars without routing an order to Toronto. The company does not have a separate U.S. exchange listing. In mid October 2026 WSPOF traded around US$117, against a 52-week range of roughly US$111 to US$203, while the TSX shares traded around C$162. The two prices move together because they represent the same security, adjusted for the Canadian dollar exchange rate.
What does WSP Global do?
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WSP designs and advises on the built and natural environment: transportation such as roads, rail and transit; buildings; water and wastewater; environmental assessment and remediation; mining; and power and energy, including transmission, substations and utility programs. It earns professional fees for engineering, design, consulting, permitting and program management rather than building projects itself, which keeps the business asset-light and limits exposure to construction cost overruns. Clients are a mix of governments, utilities and private companies. The company operates across Canada, the U.S. and Latin America, the UK and Europe, the Middle East and Asia Pacific. Since 2024 it has leaned heavily into U.S. power and energy through the POWER Engineers and TRC acquisitions, and Ricardo added transport, energy and environmental consulting in the UK and Europe.
Why did WSP stock fall in 2026?
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The TSX shares dropped from about C$249 at the start of 2026 to roughly C$162 in mid October, a decline of about 35%, even though quarterly results beat guidance and the full-year outlook was raised. Coverage points to three pressures. First, investors worry that generative AI tools will reduce the billable hours that engineering and design consultancies charge, which hit the whole peer group including Stantec, AECOM and Jacobs. Second, premium-valued industrial and services stocks were de-rated more broadly. Third, leverage rose to 2.3x net debt to adjusted EBITDA after the TRC deal, acquisition costs ran above plan, and WSP's July to September pursuit of Arcadis raised questions about how much more debt or equity it might use. The fall moved the valuation to roughly 9x forward EBITDA.
What was in WSP's latest quarterly results, and when is the next earnings date?
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For the second quarter of 2026, reported August 5, WSP posted net revenues of ~C$4.27 billion, up ~22.9% with ~5.0% organic growth, and adjusted EBITDA of ~C$815 million, up ~28.8%, for a 19.1% margin. Adjusted EPS rose to C$2.88 from C$2.35, while reported diluted EPS fell to C$1.82 from C$2.14 because of acquisition and integration costs. Backlog hit a record ~C$20.1 billion. WSP raised 2026 guidance to C$16.2 to C$17.0 billion of net revenue and C$3.10 to C$3.18 billion of adjusted EBITDA, and guided Q3 to C$4.15 to C$4.35 billion of net revenue and C$850 to C$890 million of adjusted EBITDA. Third-quarter results are scheduled for November 4, 2026, after market close, with a conference call on November 5 at 8:00 a.m. Eastern.
What are TRC and the Arcadis bid?
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TRC Companies is a U.S. power, utility and environmental consulting firm with about 8,000 employees. WSP completed the purchase in February 2026, partly funded by a ~C$977.5 million equity offering in December 2025, and describes the combination as the leading U.S. power and energy engineering platform. It is the main reason acquisitions added about 17 points of growth in Q2 2026 and the main reason leverage rose. Arcadis is a separate story. WSP made a non-binding proposal of €48.50 per share for the Dutch consultancy on July 1, 2026, which Arcadis rejected, then raised it to €51.50. Arcadis's boards rejected both as undervaluing the company, and on September 22 WSP said it would not pursue a public offer without board support, ending the approach.
Does WSP pay a dividend?
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Yes. WSP pays a quarterly dividend of C$0.375 per share, or C$1.50 a year, which works out to a yield of a little under 1% at mid October 2026 prices. The most recent payment went out on or about October 15, 2026 to shareholders of record on September 30. On the OTC line, the per-share amount in U.S. dollars has been around US$0.26 to US$0.28 a quarter, varying with the exchange rate. U.S. holders generally receive the dividend net of Canadian withholding tax, which may be creditable against U.S. tax depending on the account type. The payout ratio is low, around 21% of trailing earnings by one data provider's measure, because WSP prefers to reinvest cash in acquisitions and debt reduction rather than raise the dividend quickly.
Is WSP Global a good investment?
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That depends on what an investor is looking for, and the case has two clear sides. The bull case: WSP has a long record of organic growth and successful integrations, a record ~C$20.1 billion backlog, margins approaching its 19% to 20% target, exposure to multi-year grid, data center and public infrastructure programs, and a valuation near 9x forward EBITDA that is well below its recent history. The bear case: AI could structurally reduce billable engineering hours, leverage is elevated at 2.3x after TRC, acquisition costs ran above plan, free cash flow softened in Q2, and repeated equity raises dilute holders. For U.S. investors, WSPOF adds currency risk and thinner liquidity. Peers to compare include Stantec, AECOM, Jacobs and Tetra Tech. This is descriptive information, not a recommendation.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with WSP Global Inc's investor relations page or your broker before making investment decisions.