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CGI

GIB
51
Information Technology Services · Technology
Price
$68.12
-0.02 (-0.03%)
Market Cap
$14.80B
Exchange
New York Stock Exchange
Winston Score
51
Winston is curious
Mixed quality — meaningful strengths and weaknesses.

Share count falling — buybacks

−10.9% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 253.1M (2021) → 225.5M (2025)

CGI Inc. is a Canadian technology services company that helps governments, banks, and large businesses run their computer systems and software. It builds custom software, manages IT infrastructure, and provides consulting services to clients in industries like healthcare, defense, finance, and utilities. CGI is one of the largest IT services firms in the world, with roots going back to 1976 in Montreal.

CGI makes money by charging clients fees for long-term contracts to manage their technology systems, as well as project-based work like building new software. It operates across North America, Europe, and Asia-Pacific, generating roughly $14 billion in annual revenue. Its main competitive advantage is deep relationships with government clients, who tend to sign multi-year contracts that are hard to switch away from. The key risk is that large government IT budgets can be cut during economic downturns, which could reduce demand for its services.

Winston Score History

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+3.6% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+10.5% YoY

YoY Growth Rate

Steady EPS growth

R&D Spend

$12M/ year

0.1% of revenue

Below sector average (15%)

Research and development spending

Insider Activity

22.7%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$745M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

CGI is growing revenue at 4% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Gross Margin
16.4%
Thin — 16.4% gross margin
Operating Margin
16.4%
Healthy — 16.4% operating margin
ROCE
4.9%
Weak — 4.9% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY
+7.6%
Steady sales growth (7.6% YoY)
EPS YoY
-1.8%
Earnings shrinking (-1.8% YoY)

Slight earnings drop. Typical near a cyclical low.

EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion
122%
Turns 122% of profit into real cash
FCF Margin
11.0%
Modest free cash flow (11.0%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

Debt / Equity
0.38
Conservative — low debt load (0.38)
Interest Cover
25.49x
Comfortably covers interest (25.5x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)
9.0x
Attractive valuation — P/E 9.0

P/E under 10. The price tag is small relative to last year's profit.

P/E vs Forward
+1.4
GROWING
Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Dividend Yield
0.69%
Small dividend — 0.69% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth
N/A
no trend
Data not available

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