SECURE WASTE INFRASTRUCTURE (SES.CA) Stock Fundamental Analysis

TSX:SES • CA8139211038

18.84 CAD
+0.34 (+1.84%)
Last: Feb 13, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

5

SES gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 205 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.


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

  • In the past year SES was profitable.
  • 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.
  • Each year in the past 5 years SES had a positive operating cash flow.
SES.CA Yearly Net Income VS EBIT VS OCF VS FCFSES.CA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M

1.2 Ratios

  • SES has a Return On Assets of 4.09%. This is in the better half of the industry: SES outperforms 79.02% of its industry peers.
  • Looking at the Return On Equity, with a value of 13.40%, SES belongs to the top of the industry, outperforming 90.73% of the companies in the same industry.
  • SES has a better Return On Invested Capital (10.66%) than 95.61% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for SES is significantly above the industry average of 6.52%.
Industry RankSector 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
SES.CA Yearly ROA, ROE, ROICSES.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 40

1.3 Margins

  • SES has a Profit Margin (1.02%) which is comparable to the rest of the industry.
  • In the last couple of years the Profit Margin of SES has grown nicely.
  • Looking at the Operating Margin, with a value of 2.63%, SES is in line with its industry, outperforming 50.73% of the companies in the same industry.
  • In the last couple of years the Operating Margin of SES has grown nicely.
  • SES has a Gross Margin (3.99%) which is in line with its industry peers.
  • In the last couple of years the Gross Margin of SES has remained more or less at the same level.
Industry RankSector 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%
SES.CA Yearly Profit, Operating, Gross MarginsSES.CA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 -5 10

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ROAROEROICOperating and Profit MarginShow most profitable peers

5

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.
  • The number of shares outstanding for SES has been reduced compared to 1 year ago.
  • The number of shares outstanding for SES has been increased compared to 5 years ago.
  • The debt/assets ratio for SES has been reduced compared to a year ago.
SES.CA Yearly Shares OutstandingSES.CA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M
SES.CA Yearly Total Debt VS Total AssetsSES.CA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B 2.5B

2.2 Solvency

  • SES has an Altman-Z score of 5.84. This indicates that SES is financially healthy and has little risk of bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 5.84, SES belongs to the top of the industry, outperforming 86.34% of the companies in the same industry.
  • 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.
  • The Debt to FCF ratio of SES (9.95) is better than 74.63% 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.
  • The Debt to Equity ratio of SES (1.27) is worse than 60.49% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.27
Debt/FCF 9.95
Altman-Z 5.84
ROIC/WACC1.44
WACC7.41%
SES.CA Yearly LT Debt VS Equity VS FCFSES.CA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M 400M 600M 800M 1B

2.3 Liquidity

  • SES has a Current Ratio of 1.21. This is a normal value and indicates that SES is financially healthy and should not expect problems in meeting its short term obligations.
  • SES's Current ratio of 1.21 is fine compared to the rest of the industry. SES outperforms 68.78% of its industry peers.
  • SES has a Quick Ratio of 1.21. This is a bad value and indicates that SES is not financially healthy enough and could expect problems in meeting its short term obligations.
  • The Quick ratio of SES (0.92) is better than 64.39% of its industry peers.
Industry RankSector Rank
Current Ratio 1.21
Quick Ratio 0.92
SES.CA Yearly Current Assets VS Current LiabilitesSES.CA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

3

3. Growth

3.1 Past

  • SES shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -79.82%.
  • Measured over the past years, SES shows a very strong growth in Earnings Per Share. The EPS has been growing by 121.24% on average per year.
  • SES shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -23.28%.
  • The Revenue has been growing by 28.44% on average over the past years. This is a very strong growth!
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

  • Based on estimates for the next years, SES will show a very negative growth in Earnings Per Share. The EPS will decrease by -19.41% on average per year.
  • SES is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -8.27% yearly.
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.
SES.CA Yearly Revenue VS EstimatesSES.CA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2B 4B 6B 8B 10B
SES.CA Yearly EPS VS EstimatesSES.CA Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 0.5 -0.5 1 1.5 2

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Find the best growth stocksShow best growing peers

3

4. Valuation

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 42.82, which means the current valuation is very expensive for SES.
  • The rest of the industry has a similar Price/Earnings ratio as SES.
  • SES's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 26.68.
  • SES is valuated rather expensively with a Price/Forward Earnings ratio of 19.08.
  • SES's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. SES is cheaper than 63.41% of the companies in the same industry.
  • When comparing the Price/Forward Earnings ratio of SES to the average of the S&P500 Index (28.06), we can say SES is valued slightly cheaper.
Industry RankSector Rank
PE 42.82
Fwd PE 19.08
SES.CA Price Earnings VS Forward Price EarningsSES.CA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

  • SES's Enterprise Value to EBITDA is on the same level as the industry average.
  • Based on the Price/Free Cash Flow ratio, SES is valued a bit cheaper than the industry average as 60.98% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 40.15
EV/EBITDA 11.3
SES.CA Per share dataSES.CA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40

4.3 Compensation for Growth

  • The decent profitability rating of SES 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)0.35
EPS Next 2Y-31.76%
EPS Next 3Y-19.41%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

4

5. Dividend

5.1 Amount

  • SES has a Yearly Dividend Yield of 2.16%. Purely for dividend investing, there may be better candidates out there.
  • Compared to an average industry Dividend Yield of 3.21, SES pays a bit more dividend than its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.84, SES has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 2.16%

5.2 History

  • On average, the dividend of SES grows each year by 7.92%, which is quite nice.
  • 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
SES.CA Yearly Dividends per shareSES.CA Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.1 0.2 0.3 0.4

5.3 Sustainability

  • SES pays out 91.35% of its income as dividend. This is not a sustainable payout ratio.
  • SES's earnings are declining while the Dividend Rate has been growing. This means the dividend growth is most likely not sustainable.
DP91.35%
EPS Next 2Y-31.76%
EPS Next 3Y-19.41%
SES.CA Yearly Income VS Free CF VS DividendSES.CA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M
SES.CA Dividend Payout.SES.CA Dividend Payout, showing the Payout Ratio.SES.CA Dividend Payout.PayoutRetained Earnings

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SECURE WASTE INFRASTRUCTURE

TSX:SES (2/13/2026, 7:00:00 PM)

18.84

+0.34 (+1.84%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)10-30
Earnings (Next)02-20
Inst Owners43.49%
Inst Owner ChangeN/A
Ins Owners1.88%
Ins Owner ChangeN/A
Market Cap4.10B
Revenue(TTM)10.20B
Net Income(TTM)104.00M
Analysts71.67
Price Target20.4 (8.28%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.16%
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)-2.83%
PT rev (3m)-0.83%
EPS NQ rev (1m)0.61%
EPS NQ rev (3m)-7.26%
EPS NY rev (1m)0%
EPS NY rev (3m)-15.06%
Revenue NQ rev (1m)-0.32%
Revenue NQ rev (3m)-8.04%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-2.81%
Valuation
Industry RankSector Rank
PE 42.82
Fwd PE 19.08
P/S 0.4
P/FCF 40.15
P/OCF 13.61
P/B 5.28
P/tB 9.2
EV/EBITDA 11.3
EPS(TTM)0.44
EY2.34%
EPS(NY)0.99
Fwd EY5.24%
FCF(TTM)0.47
FCFY2.49%
OCF(TTM)1.38
OCFY7.35%
SpS46.93
BVpS3.57
TBVpS2.05
PEG (NY)N/A
PEG (5Y)0.35
Graham Number5.94
Profitability
Industry RankSector 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 RankSector 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 5.84
F-Score5
WACC7.41%
ROIC/WACC1.44
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 4 / 10 and the dividend payout ratio is 91.35%.