SECURE WASTE INFRASTRUCTURE (SES.CA) Stock Fundamental Analysis

TSX:SES • CA8139211038

19.29 CAD
-0.18 (-0.92%)
Last: Feb 25, 2026, 07:00 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership News
Fundamental Rating

5

Overall SES gets a fundamental rating of 5 out of 10. We evaluated SES against 212 industry peers in the Oil, Gas & Consumable Fuels industry. While SES has a great profitability rating, there are some minor concerns on its financial health. SES does not seem to be growing, but still is valued expensively.


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

  • In the past year SES was profitable.
  • 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.
  • With an excellent Return On Equity value of 13.40%, SES belongs to the best 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.
  • SES's Operating Margin of 2.63% is in line compared to the rest of the industry. SES outperforms 52.36% of its industry peers.
  • 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.
  • 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

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), SES is creating some value.
  • The number of shares outstanding for SES has been reduced compared to 1 year ago.
  • Compared to 5 years ago, SES has more shares outstanding
  • Compared to 1 year ago, SES has an improved debt to assets ratio.
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 5.88. This indicates that SES is financially healthy and has little risk of bankruptcy at the moment.
  • The Altman-Z score of SES (5.88) is better than 85.85% of its industry peers.
  • 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.
  • 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.
  • SES has a Debt/Equity ratio of 1.27. This is a high value indicating a heavy dependency on external financing.
  • SES's Debt to Equity ratio of 1.27 is on the low side compared to the rest of the industry. SES is outperformed by 60.38% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.27
Debt/FCF 9.95
Altman-Z 5.88
ROIC/WACC1.44
WACC7.43%
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.
  • 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's Quick ratio of 0.92 is fine compared to the rest of the industry. SES outperforms 63.68% 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%.
  • SES shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 121.24% yearly.
  • 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

  • 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.
  • Based on estimates for the next years, SES will show a decrease in Revenue. The Revenue will decrease by -8.27% on average per year.
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

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • 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

  • With a Price/Earnings ratio of 43.84, SES can be considered very expensive at the moment.
  • SES's Price/Earnings ratio is in line with the industry average.
  • SES is valuated expensively when we compare the Price/Earnings ratio to 27.05, which is the current average of the S&P500 Index.
  • The Price/Forward Earnings ratio is 19.54, which indicates a rather expensive current valuation of SES.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of SES indicates a somewhat cheap valuation: SES is cheaper than 63.68% of the companies listed in the same industry.
  • SES's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 28.03.
Industry RankSector Rank
PE 43.84
Fwd PE 19.54
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 60.85% of the companies in the same industry.
Industry RankSector Rank
P/FCF 41.11
EV/EBITDA 11.52
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.
  • 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)0.36
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%.
  • Compared to an average industry Dividend Yield of 3.99, SES pays a bit more dividend than its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.80, 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 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)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

  • 91.35% of the earnings are spent on dividend by SES. 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

More info and screens

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SECURE WASTE INFRASTRUCTURE

TSX:SES (2/25/2026, 7:00:00 PM)

19.29

-0.18 (-0.92%)

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 Cap4.19B
Revenue(TTM)10.20B
Net Income(TTM)104.00M
Analysts71.67
Price Target20.4 (5.75%)
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 43.84
Fwd PE 19.54
P/S 0.41
P/FCF 41.11
P/OCF 13.93
P/B 5.4
P/tB 9.42
EV/EBITDA 11.52
EPS(TTM)0.44
EY2.28%
EPS(NY)0.99
Fwd EY5.12%
FCF(TTM)0.47
FCFY2.43%
OCF(TTM)1.38
OCFY7.18%
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 5.88
F-Score5
WACC7.43%
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-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%.