SECURE WASTE INFRASTRUCTURE (SES.CA) Fundamental Analysis & Valuation

TSX:SES • CA8139211038

Current stock price

22.62 CAD
+0.3 (+1.34%)
Last:

This SES.CA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

7

1. SES.CA Profitability Analysis

1.1 Basic Checks

  • In the past year SES was profitable.
  • SES had a positive operating cash flow in the past year.
  • SES had positive earnings in 4 of the past 5 years.
  • SES had a positive operating cash flow in each of the past 5 years.
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 2025 0 200M -200M 400M

1.2 Ratios

  • Looking at the Return On Assets, with a value of 4.09%, SES is in the better half of the industry, outperforming 76.44% of the companies in the same industry.
  • SES has a better Return On Equity (13.40%) than 89.90% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 10.61%, SES belongs to the top of the industry, outperforming 96.15% of the companies in the same industry.
  • SES had an Average Return On Invested Capital over the past 3 years of 12.23%. This is significantly above the industry average of 6.78%.
Industry RankSector Rank
ROA 4.09%
ROE 13.4%
ROIC 10.61%
ROA(3y)12.41%
ROA(5y)7.36%
ROE(3y)29.28%
ROE(5y)16.8%
ROIC(3y)12.23%
ROIC(5y)10.3%
SES.CA Yearly ROA, ROE, ROICSES.CA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 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 56.25% of its industry peers.
  • 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.
  • In the last couple of years the Operating Margin of SES has grown nicely.
  • SES has a Gross Margin (3.99%) which is comparable to the rest of the industry.
  • SES's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 2.63%
PM (TTM) 1.02%
GM 3.99%
OM growth 3Y62.89%
OM growth 5YN/A
PM growth 3Y53.74%
PM growth 5YN/A
GM growth 3Y66.82%
GM growth 5Y70.69%
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 2025 0 10 20 30 40

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5

2. SES.CA Health Analysis

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.
  • SES has less shares outstanding than it did 1 year ago.
  • The number of shares outstanding for SES has been increased compared to 5 years ago.
  • The debt/assets ratio for SES is higher 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 2025 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 2025 500M 1B 1.5B 2B 2.5B

2.2 Solvency

  • SES has an Altman-Z score of 6.12. 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 6.12, SES belongs to the top of the industry, outperforming 86.06% of the companies in the same industry.
  • SES has a debt to FCF ratio of 9.95. This is a negative value and a sign of low solvency as SES would need 9.95 years to pay back of all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 9.95, SES is in the better half of the industry, outperforming 75.00% 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.
  • The Debt to Equity ratio of SES (1.27) is worse than 61.54% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.27
Debt/FCF 9.95
Altman-Z 6.12
ROIC/WACC1.43
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 2025 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.
  • Looking at the Current ratio, with a value of 1.21, SES is in the better half of the industry, outperforming 66.83% of the companies in the same industry.
  • 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.
  • SES has a Quick ratio of 0.92. This is in the better half of the industry: SES outperforms 62.02% 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 2025 200M 400M 600M 800M 1B

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4

3. SES.CA Growth Analysis

3.1 Past

  • The earnings per share for SES have decreased strongly by -74.53% in the last year.
  • Measured over the past years, SES shows a decrease in Earnings Per Share. The EPS has been decreasing by -2.35% on average per year.
  • SES shows a small growth in Revenue. In the last year, the Revenue has grown by 3.59%.
  • The Revenue has been decreasing by -4.20% on average over the past years.
EPS 1Y (TTM)-74.53%
EPS 3Y-2.35%
EPS 5YN/A
EPS Q2Q%71.43%
Revenue 1Y (TTM)3.59%
Revenue growth 3Y-43.13%
Revenue growth 5Y-4.2%
Sales Q2Q%12.05%

3.2 Future

  • The Earnings Per Share is expected to grow by 45.00% on average over the next years. This is a very strong growth
  • SES is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 12.78% yearly.
EPS Next Y83.06%
EPS Next 2Y42.87%
EPS Next 3Y45%
EPS Next 5YN/A
Revenue Next Year5.61%
Revenue Next 2Y5.4%
Revenue Next 3Y5.27%
Revenue Next 5Y12.78%

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 accelerating.
  • The Revenue growth rate is accelerating: in the next years the growth will be better 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
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 2028 0 0.5 -0.5 1 1.5 2

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4

4. SES.CA Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 41.89, the valuation of SES can be described as expensive.
  • The rest of the industry has a similar Price/Earnings ratio as SES.
  • SES is valuated expensively when we compare the Price/Earnings ratio to 25.23, which is the current average of the S&P500 Index.
  • SES is valuated rather expensively with a Price/Forward Earnings ratio of 22.88.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of SES indicates a somewhat cheap valuation: SES is cheaper than 65.87% of the companies listed in the same industry.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 22.51, SES is valued at the same level.
Industry RankSector Rank
PE 41.89
Fwd PE 22.88
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.
  • SES's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 48.1
EV/EBITDA 13.11
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 low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • SES has a very decent profitability rating, which may justify a higher PE ratio.
  • SES's earnings are expected to grow with 45.00% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.5
PEG (5Y)N/A
EPS Next 2Y42.87%
EPS Next 3Y45%

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5

5. SES.CA Dividend Analysis

5.1 Amount

  • SES has a Yearly Dividend Yield of 1.97%. Purely for dividend investing, there may be better candidates out there.
  • Compared to an average industry Dividend Yield of 4.47, SES pays a bit more dividend than its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.90, SES has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 1.97%

5.2 History

  • On average, the dividend of SES grows each year by 29.14%, which is quite nice.
  • SES has paid a dividend for at least 10 years, which is a reliable track record.
  • SES has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)29.14%
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 of SES is growing, but earnings are growing more, so the dividend growth is sustainable.
DP91.35%
EPS Next 2Y42.87%
EPS Next 3Y45%
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 2025 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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SES.CA Fundamentals: All Metrics, Ratios and Statistics

SECURE WASTE INFRASTRUCTURE

TSX:SES (3/26/2026, 7:00:00 PM)

22.62

+0.3 (+1.34%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)02-20
Earnings (Next)04-30
Inst Owners52.36%
Inst Owner ChangeN/A
Ins Owners1.93%
Ins Owner ChangeN/A
Market Cap4.91B
Revenue(TTM)1.47B
Net Income(TTM)104.00M
Analysts71.67
Price Target21.7 (-4.07%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.97%
Yearly Dividend0.39
Dividend Growth(5Y)29.14%
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)6.39%
PT rev (3m)3.37%
EPS NQ rev (1m)0%
EPS NQ rev (3m)1.82%
EPS NY rev (1m)0.13%
EPS NY rev (3m)0.13%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.63%
Revenue NY rev (1m)-1%
Revenue NY rev (3m)-2.53%
Valuation
Industry RankSector Rank
PE 41.89
Fwd PE 22.88
P/S 0.48
P/FCF 48.1
P/OCF 16.3
P/B 6.32
P/tB 11.03
EV/EBITDA 13.11
EPS(TTM)0.54
EY2.39%
EPS(NY)0.99
Fwd EY4.37%
FCF(TTM)0.47
FCFY2.08%
OCF(TTM)1.39
OCFY6.13%
SpS47.04
BVpS3.58
TBVpS2.05
PEG (NY)0.5
PEG (5Y)N/A
Graham Number6.59
Profitability
Industry RankSector Rank
ROA 4.09%
ROE 13.4%
ROCE 13.54%
ROIC 10.61%
ROICexc 10.74%
ROICexgc 12.92%
OM 2.63%
PM (TTM) 1.02%
GM 3.99%
FCFM 1%
ROA(3y)12.41%
ROA(5y)7.36%
ROE(3y)29.28%
ROE(5y)16.8%
ROIC(3y)12.23%
ROIC(5y)10.3%
ROICexc(3y)12.36%
ROICexc(5y)10.4%
ROICexgc(3y)14.66%
ROICexgc(5y)12.59%
ROCE(3y)15.61%
ROCE(5y)13.15%
ROICexgc growth 3Y-3.63%
ROICexgc growth 5YN/A
ROICexc growth 3Y-1.59%
ROICexc growth 5YN/A
OM growth 3Y62.89%
OM growth 5YN/A
PM growth 3Y53.74%
PM growth 5YN/A
GM growth 3Y66.82%
GM growth 5Y70.69%
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 6.12
F-Score5
WACC7.41%
ROIC/WACC1.43
Cap/Depr(3y)99.05%
Cap/Depr(5y)75.19%
Cap/Sales(3y)9.06%
Cap/Sales(5y)5.9%
Profit Quality(3y)72.6%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-74.53%
EPS 3Y-2.35%
EPS 5YN/A
EPS Q2Q%71.43%
EPS Next Y83.06%
EPS Next 2Y42.87%
EPS Next 3Y45%
EPS Next 5YN/A
Revenue 1Y (TTM)3.59%
Revenue growth 3Y-43.13%
Revenue growth 5Y-4.2%
Sales Q2Q%12.05%
Revenue Next Year5.61%
Revenue Next 2Y5.4%
Revenue Next 3Y5.27%
Revenue Next 5Y12.78%
EBIT growth 1Y-31.98%
EBIT growth 3Y-7.36%
EBIT growth 5YN/A
EBIT Next Year78.28%
EBIT Next 3Y24.47%
EBIT Next 5Y17.22%
FCF growth 1Y-60%
FCF growth 3Y-46.59%
FCF growth 5Y-9.11%
OCF growth 1Y-20.58%
OCF growth 3Y-12.75%
OCF growth 5Y12.92%

SECURE WASTE INFRASTRUCTURE / SES.CA Fundamental Analysis 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 5 / 10 to SECURE WASTE INFRASTRUCTURE (SES.CA). This can be considered as Fairly Valued.


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%.