SECURE WASTE INFRASTRUCTURE (SES.CA) Stock Fundamental Analysis

Canada • Toronto Stock Exchange • TSX:SES • CA8139211038

18.33 CAD
+0.42 (+2.35%)
Last: Feb 6, 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 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 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.
  • 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.
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 better Return On Assets (4.09%) than 79.25% of its industry peers.
  • SES has a Return On Equity of 13.40%. This is amongst the best in the industry. SES outperforms 90.57% of its industry peers.
  • SES has a Return On Invested Capital of 10.66%. This is amongst the best in the industry. SES outperforms 95.75% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for SES is significantly above the industry average of 6.50%.
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 in line with its industry peers.
  • In the last couple of years the Profit Margin of SES has grown nicely.
  • SES has a Operating Margin of 2.63%. This is comparable to the rest of the industry: SES outperforms 51.42% of its industry peers.
  • 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 45.28% of 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

More info and screens

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.
  • 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 5.81. This indicates that SES is financially healthy and has little risk of bankruptcy at the moment.
  • SES has a better Altman-Z score (5.81) than 86.32% 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's Debt to FCF ratio of 9.95 is fine compared to the rest of the industry. SES outperforms 74.53% 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.
  • With a Debt to Equity ratio value of 1.27, SES perfoms like the industry average, outperforming 41.51% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.27
Debt/FCF 9.95
Altman-Z 5.81
ROIC/WACC1.44
WACC7.4%
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

  • A Current Ratio of 1.21 indicates that SES should not have too much problems paying its short term obligations.
  • SES has a Current ratio of 1.21. This is in the better half of the industry: SES outperforms 69.81% 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.
  • Looking at the Quick ratio, with a value of 0.92, SES is in the better half of the industry, outperforming 65.57% 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.
  • SES shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 121.24% yearly.
  • 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.
  • 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

  • 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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Find the best growth stocksShow best growing peers

3

4. Valuation

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 41.66, SES can be considered very expensive at the moment.
  • The rest of the industry has a similar Price/Earnings ratio as SES.
  • SES's Price/Earnings ratio indicates a valuation a bit more expensive than the S&P500 average which is at 27.93.
  • With a Price/Forward Earnings ratio of 18.57, 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 62.26% of the companies in the same industry.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 27.77, SES is valued a bit cheaper.
Industry RankSector Rank
PE 41.66
Fwd PE 18.57
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

  • The rest of the industry has a similar Enterprise Value to EBITDA ratio as SES.
  • Based on the Price/Free Cash Flow ratio, SES is valued a bit cheaper than 61.32% of the companies in the same industry.
Industry RankSector Rank
P/FCF 39.23
EV/EBITDA 11.09
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)0.34
EPS Next 2Y-31.76%
EPS Next 3Y-19.41%

More info and screens

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

5

5. Dividend

5.1 Amount

  • SES has a Yearly Dividend Yield of 2.23%. Purely for dividend investing, there may be better candidates out there.
  • Compared to an average industry Dividend Yield of 3.13, SES pays a bit more dividend than its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.81, SES pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 2.23%

5.2 History

  • On average, the dividend of SES grows each year by 7.92%, 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)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.
  • 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

More info and screens

Find the best dividend stocksShow peers with best dividend

SECURE WASTE INFRASTRUCTURE

TSX:SES (2/6/2026, 7:00:00 PM)

18.33

+0.42 (+2.35%)

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 Cap4.00B
Revenue(TTM)10.20B
Net Income(TTM)104.00M
Analysts73.33
Price Target20.4 (11.29%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.23%
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 41.66
Fwd PE 18.57
P/S 0.39
P/FCF 39.23
P/OCF 13.29
P/B 5.16
P/tB 8.99
EV/EBITDA 11.09
EPS(TTM)0.44
EY2.4%
EPS(NY)0.99
Fwd EY5.39%
FCF(TTM)0.47
FCFY2.55%
OCF(TTM)1.38
OCFY7.52%
SpS46.74
BVpS3.55
TBVpS2.04
PEG (NY)N/A
PEG (5Y)0.34
Graham Number5.93
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 5.81
F-Score5
WACC7.4%
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 5 / 10 and the dividend payout ratio is 91.35%.