SECURE WASTE INFRASTRUCTURE (SES.CA) Stock Fundamental Analysis
Canada • Toronto Stock Exchange • TSX:SES • CA8139211038
17.2 CAD
+0.09 (+0.53%)
Last: Feb 3, 2026, 07:00 PM
We assign a fundamental rating of 5 out of 10 to SES. SES was compared to 216 industry peers in the Oil, Gas & Consumable Fuels industry. SES has an excellent profitability rating, but there are some minor concerns on its financial health. SES is valued expensive and it does not seem to be growing.
1. Profitability
1.1 Basic Checks
- SES had positive earnings in the past year.
- In the past year SES had a positive cash flow from operations.
- The reported net income has been mixed in the past 5 years: SES reported negative net income in multiple years.
- SES had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
- SES has a Return On Assets of 4.09%. This is in the better half of the industry: SES outperforms 79.17% of its industry peers.
- SES's Return On Equity of 13.40% is amongst the best of the industry. SES outperforms 90.28% of its industry peers.
- SES has a better Return On Invested Capital (10.66%) than 95.83% of its industry peers.
- Measured over the past 3 years, the Average Return On Invested Capital for SES is significantly above the industry average of 6.50%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.09% | ||
| ROE | 13.4% | ||
| ROIC | 10.66% |
ROA(3y)12.95%
ROA(5y)5.15%
ROE(3y)28.94%
ROE(5y)11.22%
ROIC(3y)12.5%
ROIC(5y)N/A
1.3 Margins
- SES has a Profit Margin (1.02%) which is comparable to the rest of the industry.
- SES's Profit Margin has improved in the last couple of years.
- The Operating Margin of SES (2.63%) is comparable to the rest of the industry.
- SES's Operating Margin has improved in the last couple of years.
- SES has a Gross Margin of 3.99%. This is comparable to the rest of the industry: SES outperforms 45.37% of its industry peers.
- SES's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 2.63% | ||
| PM (TTM) | 1.02% | ||
| GM | 3.99% |
OM growth 3Y-0.69%
OM growth 5Y26.32%
PM growth 3YN/A
PM growth 5Y153.2%
GM growth 3Y-10.11%
GM growth 5Y-0.77%
2. Health
2.1 Basic Checks
- SES has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
- Compared to 1 year ago, SES has less shares outstanding
- Compared to 5 years ago, SES has more shares outstanding
- Compared to 1 year ago, SES has an improved debt to assets ratio.
2.2 Solvency
- An Altman-Z score of 5.73 indicates that SES is not in any danger for bankruptcy at the moment.
- SES has a better Altman-Z score (5.73) than 86.57% of its industry peers.
- The Debt to FCF ratio of SES is 9.95, which is on the high side as it means it would take SES, 9.95 years of fcf income to pay off all of its debts.
- SES has a Debt to FCF ratio of 9.95. This is in the better half of the industry: SES outperforms 74.54% of its industry peers.
- A Debt/Equity ratio of 1.27 is on the high side and indicates that SES has dependencies on debt financing.
- SES has a Debt to Equity ratio (1.27) which is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.27 | ||
| Debt/FCF | 9.95 | ||
| Altman-Z | 5.73 |
ROIC/WACC1.43
WACC7.47%
2.3 Liquidity
- A Current Ratio of 1.21 indicates that SES should not have too much problems paying its short term obligations.
- SES's Current ratio of 1.21 is fine compared to the rest of the industry. SES outperforms 69.44% of its industry peers.
- A Quick Ratio of 0.92 indicates that SES may have some problems paying its short term obligations.
- With a decent Quick ratio value of 0.92, SES is doing good in the industry, outperforming 65.28% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.21 | ||
| Quick Ratio | 0.92 |
3. Growth
3.1 Past
- The earnings per share for SES have decreased strongly by -79.82% in the last year.
- The Earnings Per Share has been growing by 121.24% on average over the past years. This is a very strong growth
- The Revenue for SES has decreased by -23.28% in the past year. This is quite bad
- Measured over the past years, SES shows a very strong growth in Revenue. The Revenue has been growing by 28.44% on average per year.
EPS 1Y (TTM)-79.82%
EPS 3YN/A
EPS 5Y121.24%
EPS Q2Q%-100%
Revenue 1Y (TTM)-23.28%
Revenue growth 3Y41.51%
Revenue growth 5Y28.44%
Sales Q2Q%-2.41%
3.2 Future
- SES is expected to show a very negative growth in Earnings Per Share. In the coming years, the EPS will decrease by -19.41% yearly.
- The Revenue is expected to decrease by -8.27% on average over the next years.
EPS Next Y-71.21%
EPS Next 2Y-31.76%
EPS Next 3Y-19.41%
EPS Next 5YN/A
Revenue Next Year-60.16%
Revenue Next 2Y-34.05%
Revenue Next 3Y-23.11%
Revenue Next 5Y-8.27%
3.3 Evolution
- The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
- When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
- SES is valuated quite expensively with a Price/Earnings ratio of 39.09.
- The rest of the industry has a similar Price/Earnings ratio as SES.
- When comparing the Price/Earnings ratio of SES to the average of the S&P500 Index (28.18), we can say SES is valued slightly more expensively.
- Based on the Price/Forward Earnings ratio of 17.42, the valuation of SES can be described as rather expensive.
- SES's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. SES is cheaper than 62.96% of the companies in the same industry.
- The average S&P500 Price/Forward Earnings ratio is at 25.51. SES is valued slightly cheaper when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 39.09 | ||
| Fwd PE | 17.42 |
4.2 Price Multiples
- SES's Enterprise Value to EBITDA is on the same level as the industry average.
- SES's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. SES is cheaper than 62.04% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 36.81 | ||
| EV/EBITDA | 10.55 |
4.3 Compensation for Growth
- SES has a very decent profitability rating, which may justify a higher PE ratio.
- A cheap valuation may be justified as SES's earnings are expected to decrease with -19.41% in the coming years.
PEG (NY)N/A
PEG (5Y)0.32
EPS Next 2Y-31.76%
EPS Next 3Y-19.41%
5. Dividend
5.1 Amount
- SES has a Yearly Dividend Yield of 2.31%.
- Compared to an average industry Dividend Yield of 3.01, SES pays a bit more dividend than its industry peers.
- Compared to an average S&P500 Dividend Yield of 1.83, SES pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.31% |
5.2 History
- The dividend of SES is nicely growing with an annual growth rate of 7.92%!
- SES has been paying a dividend for at least 10 years, so it has a reliable track record.
- SES has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)7.92%
Div Incr Years3
Div Non Decr Years3
5.3 Sustainability
- SES pays out 91.35% of its income as dividend. This is not a sustainable payout ratio.
- The Dividend Rate of SES has been growing, while earnings will be declining. This means the dividend growth is most likely not sustainable.
DP91.35%
EPS Next 2Y-31.76%
EPS Next 3Y-19.41%
TSX:SES (2/3/2026, 7:00:00 PM)
17.2
+0.09 (+0.53%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)10-30 2025-10-30/bmo
Earnings (Next)02-20 2026-02-20/amc
Inst Owners43.49%
Inst Owner ChangeN/A
Ins Owners1.88%
Ins Owner ChangeN/A
Market Cap3.75B
Revenue(TTM)10.20B
Net Income(TTM)104.00M
Analysts73.33
Price Target21 (22.09%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.31% |
Yearly Dividend0.4
Dividend Growth(5Y)7.92%
DP91.35%
Div Incr Years3
Div Non Decr Years3
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-56.68%
Min EPS beat(2)-100%
Max EPS beat(2)-13.37%
EPS beat(4)0
Avg EPS beat(4)-45.91%
Min EPS beat(4)-100%
Max EPS beat(4)-13.37%
EPS beat(8)3
Avg EPS beat(8)105.5%
EPS beat(12)4
Avg EPS beat(12)65.86%
EPS beat(16)7
Avg EPS beat(16)-609.11%
Revenue beat(2)1
Avg Revenue beat(2)-6.93%
Min Revenue beat(2)-13.93%
Max Revenue beat(2)0.07%
Revenue beat(4)2
Avg Revenue beat(4)-5.42%
Min Revenue beat(4)-13.93%
Max Revenue beat(4)3.18%
Revenue beat(8)6
Avg Revenue beat(8)1.81%
Revenue beat(12)10
Avg Revenue beat(12)62.61%
Revenue beat(16)14
Avg Revenue beat(16)154.95%
PT rev (1m)0%
PT rev (3m)2.07%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-10.33%
EPS NY rev (1m)0%
EPS NY rev (3m)-26.86%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-9.11%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-5.05%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 39.09 | ||
| Fwd PE | 17.42 | ||
| P/S | 0.37 | ||
| P/FCF | 36.81 | ||
| P/OCF | 12.47 | ||
| P/B | 4.84 | ||
| P/tB | 8.44 | ||
| EV/EBITDA | 10.55 |
EPS(TTM)0.44
EY2.56%
EPS(NY)0.99
Fwd EY5.74%
FCF(TTM)0.47
FCFY2.72%
OCF(TTM)1.38
OCFY8.02%
SpS46.74
BVpS3.55
TBVpS2.04
PEG (NY)N/A
PEG (5Y)0.32
Graham Number5.93
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.09% | ||
| ROE | 13.4% | ||
| ROCE | 13.54% | ||
| ROIC | 10.66% | ||
| ROICexc | 10.8% | ||
| ROICexgc | 13% | ||
| OM | 2.63% | ||
| PM (TTM) | 1.02% | ||
| GM | 3.99% | ||
| FCFM | 1% |
ROA(3y)12.95%
ROA(5y)5.15%
ROE(3y)28.94%
ROE(5y)11.22%
ROIC(3y)12.5%
ROIC(5y)N/A
ROICexc(3y)12.62%
ROICexc(5y)N/A
ROICexgc(3y)15.28%
ROICexgc(5y)N/A
ROCE(3y)15.88%
ROCE(5y)N/A
ROICexgc growth 3Y64.69%
ROICexgc growth 5Y64.56%
ROICexc growth 3Y66%
ROICexc growth 5Y59.12%
OM growth 3Y-0.69%
OM growth 5Y26.32%
PM growth 3YN/A
PM growth 5Y153.2%
GM growth 3Y-10.11%
GM growth 5Y-0.77%
F-Score5
Asset Turnover4.01
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.27 | ||
| Debt/FCF | 9.95 | ||
| Debt/EBITDA | 2.19 | ||
| Cap/Depr | 109.34% | ||
| Cap/Sales | 1.95% | ||
| Interest Coverage | 5.15 | ||
| Cash Conversion | 66.89% | ||
| Profit Quality | 98.08% | ||
| Current Ratio | 1.21 | ||
| Quick Ratio | 0.92 | ||
| Altman-Z | 5.73 |
F-Score5
WACC7.47%
ROIC/WACC1.43
Cap/Depr(3y)77.13%
Cap/Depr(5y)61.14%
Cap/Sales(3y)1.64%
Cap/Sales(5y)1.99%
Profit Quality(3y)116.66%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-79.82%
EPS 3YN/A
EPS 5Y121.24%
EPS Q2Q%-100%
EPS Next Y-71.21%
EPS Next 2Y-31.76%
EPS Next 3Y-19.41%
EPS Next 5YN/A
Revenue 1Y (TTM)-23.28%
Revenue growth 3Y41.51%
Revenue growth 5Y28.44%
Sales Q2Q%-2.41%
Revenue Next Year-60.16%
Revenue Next 2Y-34.05%
Revenue Next 3Y-23.11%
Revenue Next 5Y-8.27%
EBIT growth 1Y-31.98%
EBIT growth 3Y40.53%
EBIT growth 5Y62.24%
EBIT Next Year120.98%
EBIT Next 3Y35.38%
EBIT Next 5Y22.75%
FCF growth 1Y-65.31%
FCF growth 3Y127.08%
FCF growth 5Y36.82%
OCF growth 1Y-39.56%
OCF growth 3Y88.67%
OCF growth 5Y20.38%
SECURE WASTE INFRASTRUCTURE / SES.CA FAQ
What is the fundamental rating for SES stock?
ChartMill assigns a fundamental rating of 5 / 10 to SES.CA.
What is the valuation status of SECURE WASTE INFRASTRUCTURE (SES.CA) stock?
ChartMill assigns a valuation rating of 3 / 10 to SECURE WASTE INFRASTRUCTURE (SES.CA). This can be considered as Overvalued.
What is the profitability of SES stock?
SECURE WASTE INFRASTRUCTURE (SES.CA) has a profitability rating of 7 / 10.
What is the financial health of SECURE WASTE INFRASTRUCTURE (SES.CA) stock?
The financial health rating of SECURE WASTE INFRASTRUCTURE (SES.CA) is 5 / 10.
Is the dividend of SECURE WASTE INFRASTRUCTURE sustainable?
The dividend rating of SECURE WASTE INFRASTRUCTURE (SES.CA) is 5 / 10 and the dividend payout ratio is 91.35%.