BRP Inc. DOO

Consumer DiscretionaryLeisure ProductsCanada

Last close 88.32 CAD on Nov 2, 2026, −8.2% year to date

Quant rating

Quant rating B Rank 5 of 32 in Consumer Discretionary

Growth D 23 of 32
Valuation B 7 of 32
Quality B 7 of 32
Revisions A 2 of 32
Momentum C 16 of 32

Wall Street consensus Buy (2.33)Average target 101.00 CAD +14.4%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 3.2B
Enterprise value: 5.5B
52-week range: 67.11 – 112.26
3-year range: 44.87 – 112.26
Dividend yield: 1.17%
Beta (5 years): 1.14
Shares outstanding: 36.3M
Next earnings: Dec 2, 2026

About the company

BRP Inc. is a Canada-based company that specializes in powersports products, propulsion systems and boats. The Company's segments include Powersports and Marine. The Powersports segment comprises Year-Round Products (all-terrain vehicles, side-by-side vehicles, three-wheeled vehicles, and two-wheeled vehicles), Seasonal Products (snowmobiles, personal watercraft and pontoons) and Powersports PA&A and Original Equipment Manufacturer (OEM) Engines (parts, accessories and apparel (PA&A), engines for karts, recreational aircraft, and other services). The Marine segment includes boats, pontoons, outboard engines and related PA&A, and other services. Its brands include Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft and pontoons, Can-Am on and off-road vehicles, Alumacraft and Quintrex boats, Manitou, pontoons and Rotax marine propulsion systems and Rotax engines for karts and recreational aircraft and Pinion gearboxes. It is developing electric models for its existing product lines.

Growth and profitability fiscal year ends January 31

Growth and profitability by fiscal year
	2026	2025	2024	2023	2022	5Y avg
Revenue (mil)	8,443	7,903	9,963	10,033	7,648	–
Revenue growth	6.8%	−20.7%	−0.7%	31.2%	28.5%	7.2%
EPS (basic, normalized)	5.21	4.68	11.11	9.92	9.92	–
EPS growth	11.3%	−57.9%	12.0%	0.0%	–	–
Gross margin	23.0%	23.2%	26.4%	24.9%	27.9%	25.1%
Net margin	4.1%	0.8%	9.3%	8.6%	10.4%	6.6%
ROE	81.1%	12.3%	138.5%	432.7%	–	166.1%

Balance sheet, last quarter
Cash & short-term investments (mil)	692
Current ratio	1.19x
Long-term debt (mil)	2,893
Net debt (mil)	2,314
Total equity (mil)	329
Net debt / equity	7.04x
Net debt / EBITDA	2.10x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2026 actual	8,443	+6.8%	0.7x	1,103	+4.6%	5.0x	5.21	+11.3%	17.0x
2027	9,393	+11.3%	0.6x	1,040	−5.8%	5.3x	4.24	−18.6%	20.8x
2028	9,798	+4.3%	0.6x	1,173	+12.8%	4.7x	5.40	+27.4%	16.3x
2029	10,276	+4.9%	0.5x	1,392	+18.7%	4.0x	8.33	+54.1%	10.6x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2027	9,393	+0.1%	+1.5%	+3.9%	4.24	+0.7%	+30.6%	−4.0%
2028	9,798	0.0%	+0.9%	+2.8%	5.40	+0.8%	+16.7%	−14.4%
2029	10,276	+0.2%	+2.5%	+3.1%	8.33	+6.1%	+12.1%	−5.5%

Earnings surprises EPS beat in 4 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Apr 2024	Jul 2024	Oct 2024	Jan 2025	Apr 2025	Jul 2025	Oct 2025	Jan 2026	Apr 2026	Jul 2026
Sales reported (mil)	2,032	1,842	1,956	2,098	1,847	1,888	2,250	2,457	2,392	2,237
Sales mean (mil)	1,970	1,879	1,829	1,977	1,757	1,785	2,086	2,334	2,115	2,008
Surprise	+3.1%	−2.0%	+6.9%	+6.1%	+5.1%	+5.8%	+7.9%	+5.3%	+13.1%	+11.4%
EPS reported	0.95	0.61	1.16	0.98	0.47	0.92	1.59	2.21	1.83	−0.18
EPS mean	0.91	0.45	0.69	0.88	0.40	0.48	1.24	2.03	1.18	−0.66
Surprise	+4.2%	+35.6%	+68.5%	+11.0%	+16.7%	+92.6%	+28.7%	+9.0%	+55.3%	+72.7%

Peer comparison Leisure Products

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
DOO BRP Inc.	3.2B	2.10x	4.1%	19.22x	20.8x	16.3x	5.3x	4.7x
HAS Hasbro, Inc.	23.2B	1.55x	−6.9%	18.18x	16.6x	16.8x	11.6x	11.3x
MAT Mattel Inc	6.2B	1.95x	7.4%	2.22x	12.0x	9.9x	7.4x	6.8x
BC Brunswick Corp	7.2B	2.73x	−2.5%	3.05x	17.3x	14.7x	9.6x	8.7x
THO THOR Industries, Inc.	5.7B	0.82x	1.8%	0.96x	22.2x	16.5x	8.4x	7.4x
HZO MarineMax Inc	1.6B	7.36x	−1.4%	1.22x	76.8x	33.1x	17.0x	14.1x
Mean		2.75x	0.4%	7.48x	27.6x	17.9x	9.9x	8.8x
Median		2.02x	0.2%	2.64x	19.0x	16.4x	9.0x	8.0x

Technical analysis

1M+10.6%
3M+2.3%
1Y+1.4%
3Y−6.1%

Financial statements in millions of CAD

Income statement in millions of CAD, fiscal years

Income statement, BRP Inc., fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Total revenue	8,443	7,903	9,963	10,033	7,648	5,953
Cost of revenue	6,503	6,066	7,329	7,534	5,516	4,481
Gross profit	1,940	1,836	2,634	2,499	2,132	1,472
Selling, general & administrative expenses	836	755	801	775	665	562
Research & development	435	391	402	368	290	242
Interest expense (income), operating	10.9	4.2	18.6	−5.9	−0.3	−0.1
Unusual expense (income)	282	145	3.8	0	−7.7	199
Other operating expenses	−23.1	−13.1	1.6	−4.4	−1.5	3.7
Operating income	399	554	1,407	1,367	1,187	466
Net interest income (expense)	−2.8	−385	−168	−196	−38.3	40.8
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−31.1	−14.2	−33.7	−5.2	−72.0	−22.1
Net income before taxes	366	155	1,205	1,166	1,077	484
Provision for taxes	25.1	90.4	274	300	282	121
Minority interest	2.3	−0.1	−1.1	−1.5	−0.7	0.5
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	343	64.5	931	864	794	363
Extraordinary items	−51.1	−278	−187	–	–	–
Net income	292	−213	743	864	794	363
EBIT, normalized	703	708	1,429	1,361	1,179	664
EBITDA, normalized	1,157	1,136	1,821	1,672	1,453	925
Basic EPS, normalized	5.21	4.68	11.11	9.92	9.92	–

Balance sheet in millions of CAD, fiscal years

Balance sheet, BRP Inc., fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Assets
Cash & short-term investments	483	259	598	325	339	1,402
Receivables	765	774	717	699	497	340
Total inventory	1,825	1,774	2,156	2,290	1,691	1,087
Prepaid expenses	–	–	–	–	–	–
Other current assets	197	361	57.7	66.7	140	32.9
Total current assets	3,270	3,167	3,529	3,381	2,668	2,862
Property, plant & equipment	2,029	2,122	2,174	1,991	1,575	1,278
Goodwill	180	252	252	252	116	116
Intangibles	315	352	413	489	379	349
Long-term investments	62.9	26.6	49.6	69.3	53.2	31.6
Note receivable	26.8	23.6	19.0	21.5	24.4	18.8
Other long-term assets	440	350	339	261	216	230
Total assets	6,323	6,293	6,776	6,465	5,031	4,886
Liabilities
Accounts payable	994	839	1,027	944	965	815
Payable/accrued	–	–	–	–	–	–
Accrued expenses	521	385	424	604	658	482
Short-term debt	0	0	0	29.0	0	0
Current portion of long-term debt	104	101	104	104	132	58.8
Other current liabilities	950	1,090	950	802	864	837
Total current liabilities	2,570	2,414	2,505	2,483	2,619	2,192
Long-term debt	2,575	3,030	2,847	2,883	2,055	2,591
Minority interest	6.6	5.5	5.0	5.2	2.8	3.8
Other liabilities	567	603	610	558	489	578
Total liabilities	5,719	6,052	5,967	5,930	5,166	5,365
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	280	251	248	256	261	210
Additional paid-in capital	86.5	83.0	71.8	58.8	−3.2	−154
Retained earnings (accumulated deficit)	154	−37.3	443	176	−404	−576
Treasury stock	–	–	–	–	–	–
Other equity	84.3	−55.4	45.5	44.8	11.3	40.8
Total equity	604	241	809	535	−136	−479
Total liabilities & shareholders' equity	6,323	6,293	6,776	6,465	5,031	4,886

Cash flow statement in millions of CAD, fiscal years

Cash flow statement, BRP Inc., fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Operating activities
Net income	289	−213	744	865	795	363
Depreciation, depletion & amortization	454	428	392	310	274	261
Deferred taxes	–	–	–	–	–	–
Non-cash items	325	559	550	512	399	277
Changes in working capital	144	−85.1	−28.0	−1,038	−698	53.8
Cash from operations	1,212	688	1,658	650	770	954
Investing activities
Capital expenditures	−341	−426	−586	−659	−698	−280
Other investing cash flows	22.8	0.9	10.9	−194	10.0	19.6
Cash from investing	−318	−426	−575	−853	−688	−260
Financing activities
Financing cash flow items	−177	−182	−181	−127	−77.1	−135
Cash dividends paid	−62.9	−61.9	−55.6	−50.8	−43.1	−9.6
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−422	−309	−560	368	−1,022	728
Cash from financing	−662	−553	−797	190	−1,143	584
Foreign exchange effects	16.2	−21.4	3.1	−49.9	0.5	5.5
Net change in cash	248	−312	290	−63.5	−1,060	1,283
Free cash flow	871	262	1,072	−9.9	72.3	674

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.