SECURE WASTE INFRASTRUCTURE (SES.CA) Stock Fundamental Analysis

TSX:SES • CA8139211038

19.47 CAD
+0.06 (+0.31%)
Last: Feb 24, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

5

Taking everything into account, SES scores 5 out of 10 in our fundamental rating. SES was compared to 212 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

  • SES had positive earnings in the past year.
  • SES had a positive operating cash flow in the past year.
  • In multiple years SES reported negative net income over the last 5 years.
  • In the past 5 years SES always reported a positive cash flow from operatings.
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's Return On Assets of 4.09% is fine compared to the rest of the industry. SES outperforms 79.25% 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 90.57% of the companies in the same industry.
  • With an excellent Return On Invested Capital value of 10.66%, SES belongs to the best of the industry, outperforming 95.75% of the companies in the same industry.
  • The Average Return On Invested Capital over the past 3 years for SES is significantly above the industry average of 6.59%.
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's Profit Margin of 1.02% is in line compared to the rest of the industry. SES outperforms 56.13% of its industry peers.
  • In the last couple of years the Profit Margin of SES has grown nicely.
  • With a Operating Margin value of 2.63%, SES perfoms like the industry average, outperforming 52.36% of the companies in the same industry.
  • SES's Operating Margin has improved in the last couple of years.
  • SES has a Gross Margin (3.99%) which is comparable to the rest of the industry.
  • 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

  • The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so SES is still creating some value.
  • Compared to 1 year ago, SES has less shares outstanding
  • The number of shares outstanding for SES has been increased compared to 5 years ago.
  • SES has a better debt/assets ratio than last year.
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

  • An Altman-Z score of 5.89 indicates that SES is not in any danger for bankruptcy at the moment.
  • SES's Altman-Z score of 5.89 is amongst the best of the industry. SES outperforms 85.85% 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.
  • With a decent Debt to FCF ratio value of 9.95, SES is doing good in the industry, outperforming 75.94% of the companies in the same industry.
  • 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 of 1.27. This is in the lower half of the industry: SES underperforms 60.38% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.27
Debt/FCF 9.95
Altman-Z 5.89
ROIC/WACC1.43
WACC7.44%
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 67.92% of its industry peers.
  • A Quick Ratio of 0.92 indicates that SES may have some problems paying its short term obligations.
  • Looking at the Quick ratio, with a value of 0.92, SES is in the better half of the industry, outperforming 63.68% of the companies in the same industry.
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

  • The earnings per share for SES have decreased strongly by -79.82% in the last year.
  • 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.
  • Looking at the last year, SES shows a very negative growth in Revenue. The Revenue has decreased by -23.28% in the last year.
  • 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.
  • 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-59.86%
Revenue Next 2Y-34.56%
Revenue Next 3Y-23.45%
Revenue Next 5Y-8.27%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
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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3

4. Valuation

4.1 Price/Earnings Ratio

  • A Price/Earnings ratio of 44.25 indicates a quite expensive valuation of SES.
  • Compared to the rest of the industry, the Price/Earnings ratio of SES is on the same level as its industry peers.
  • Compared to an average S&P500 Price/Earnings ratio of 26.98, SES is valued quite expensively.
  • With a Price/Forward Earnings ratio of 19.72, SES is valued on the expensive side.
  • SES's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. SES is cheaper than 63.68% of the companies in the same industry.
  • SES's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 28.01.
Industry RankSector Rank
PE 44.25
Fwd PE 19.72
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 ratio is in line with the industry average.
  • SES's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. SES is cheaper than 60.85% of the companies in the same industry.
Industry RankSector Rank
P/FCF 41.5
EV/EBITDA 11.61
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

  • SES has a very decent profitability rating, which may justify a higher PE ratio.
  • SES's earnings are expected to decrease with -19.41% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)0.36
EPS Next 2Y-31.76%
EPS Next 3Y-19.41%

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

4

5. Dividend

5.1 Amount

  • SES has a Yearly Dividend Yield of 2.08%. Purely for dividend investing, there may be better candidates out there.
  • SES's Dividend Yield is a higher than the industry average which is at 3.99.
  • Compared to an average S&P500 Dividend Yield of 1.81, SES has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 2.08%

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
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.
  • 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%
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 (2/24/2026, 7:00:00 PM)

19.47

+0.06 (+0.31%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)02-20
Earnings (Next)04-30
Inst Owners43.49%
Inst Owner ChangeN/A
Ins Owners1.88%
Ins Owner ChangeN/A
Market Cap4.23B
Revenue(TTM)10.20B
Net Income(TTM)104.00M
Analysts71.67
Price Target20.4 (4.78%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.08%
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)-2.83%
EPS NQ rev (1m)1.82%
EPS NQ rev (3m)1.82%
EPS NY rev (1m)0%
EPS NY rev (3m)-15.06%
Revenue NQ rev (1m)-0.63%
Revenue NQ rev (3m)-0.63%
Revenue NY rev (1m)0.74%
Revenue NY rev (3m)-2.09%
Valuation
Industry RankSector Rank
PE 44.25
Fwd PE 19.72
P/S 0.41
P/FCF 41.5
P/OCF 14.06
P/B 5.45
P/tB 9.51
EV/EBITDA 11.61
EPS(TTM)0.44
EY2.26%
EPS(NY)0.99
Fwd EY5.07%
FCF(TTM)0.47
FCFY2.41%
OCF(TTM)1.38
OCFY7.11%
SpS46.93
BVpS3.57
TBVpS2.05
PEG (NY)N/A
PEG (5Y)0.36
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 5.89
F-Score5
WACC7.44%
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-59.86%
Revenue Next 2Y-34.56%
Revenue Next 3Y-23.45%
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%.