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Pulse Seismic (PSD) AI Stock Analysis

TSE:PSD

Pulse Seismic

(TSX:PSD)

Select Model
Rating:70Outperform
Price Target:CAD 3.50â–²(8.36% Upside)
Action:upgraded
Date:10/23/26

Pulse Seismic commands an adequate overall score, heavily anchored by its fortress-like balance sheet and elite margins despite stark revenue cyclicality. While an exceptionally high P/E ratio flags valuation headwinds from depressed recent earnings, an attractive 5.2% dividend yield and mildly positive short-term technical momentum provide support for investors.

Positive Factors
High-margin, scalable data licensing modelPulse Seismic’s proprietary seismic library supports exceptionally high margins because existing datasets can be licensed repeatedly without equivalent increases in delivery costs. Sustaining strong margins would provide substantial operating leverage and support reinvestment or shareholder returns.
Negative Factors
Highly uneven earnings profileThe sharp swings in revenue and profitability show that Pulse Seismic’s results can be lumpy rather than steadily recurring. This variability makes forward earnings and cash planning less predictable, and could persist because customer exploration budgets fluctuate with industry conditions.

Pulse Seismic (PSD) vs. iShares MSCI Canada ETF (EWC)

-20%0%20%40%60%80%TSE:PSD+14.30%EWC+21.27%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
Market Cap
CAD 163.81M
Dividend Yield
5.33%
Average Volume (3M)
18.91K
Price to Earnings (P/E)
12.8
Beta (1Y)
-0.08
Revenue Growth
-41.35%
EPS Growth
-40.35%
Country
Canada
Employees
15
Sector
Energy
Sector Strength
65
Industry
Oil & Gas Equipment & Services

Pulse Seismic Business Overview & Revenue Model

Company Description

Pulse Seismic Inc. specializes in the acquisition, commercialization, and licensing of two-dimensional (2D) and three-dimensional (3D) seismic data, primarily serving the energy sector across Western Canada. Its extensive data archives encompass majo...

How the Company Makes Money

Pulse Seismic primarily makes money by licensing its proprietary seismic data library to oil and gas customers. Revenue is largely generated through (1) seismic data license sales, where customers pay for the right to use specific 2D/3D seismic datas...

Pulse Seismic Financial Statement Overview

Summary

A pristine, virtually debt-free balance sheet and elite profit margins provide immense financial stability, though investors must tolerate substantial top-line and cash flow cyclicality inherent to the industry.

Income Statement

75Positive

Balance Sheet

96Very Positive

Cash Flow

68Positive
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue29.36M51.09M23.38M39.13M9.57M49.15M
Gross Profit26.64M42.10M14.20M29.94M-505.00K38.53M
EBITDA20.26M40.85M15.97M30.98M2.14M42.36M
Net Income13.23M23.12M3.39M15.01M-7.91M21.51M
Balance Sheet
Total Assets27.05M22.84M21.52M41.25M35.22M52.90M
Cash, Cash Equivalents and Short-Term Investments8.69M19.75M8.72M15.95M5.82M-500.00K
Total Debt95.00K134.00K204.00K269.00K21.00K2.77M
Total Liabilities6.10M5.53M3.22M15.59M1.73M8.76M
Stockholders Equity20.95M17.32M18.30M25.66M33.50M44.14M
Cash Flow
Free Cash Flow1.61M35.15M13.93M23.50M11.98M29.44M
Operating Cash Flow1.73M35.20M14.20M23.52M11.99M29.80M
Investing Cash Flow-114.00K-58.00K-270.00K-28.00K-12.00K-358.00K
Financing Cash Flow-8.99M-24.12M-21.15M-13.37M-6.16M-29.44M

Pulse Seismic Technical Analysis

Technical Analysis SentimentPositive
Last Price3.23

Price Trends

50DMA3.04Positive
100DMA3.13Positive
200DMA3.49Negative

Market Momentum

MACD0.04Negative
RSI58.57Neutral
STOCH39.79Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:PSD, the sentiment is Positive. The current price of 3.23 is above the 20-day moving average (MA) of 3.16, above the 50-day MA of 3.04, and below the 200-day MA of 3.49, indicating a neutral trend. The MACD of 0.04 indicates Negative momentum. The RSI at 58.57 is Neutral, neither overbought nor oversold. The STOCH value of 39.79 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:PSD.

Pulse Seismic Peers Comparison

Overall Rating

UnderperformOutperform
Sector (65)

Financial Indicators

TSE:PSD against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
TSE:PSDTSE:PSD70OutperformCAD 163.79M12.7689.89%5.33%-41.35%-40.35%
TSE:MCBTSE:MCB69NeutralCAD 69.58M19.085.44%3.91%-20.69%-47.36%
TSE:HWOTSE:HWO67NeutralCAD 15.55M9.757.22%―19.80%-93.88%
TSE:ETSE:E66NeutralCAD 142.93M35.994.32%―28.46%41.76%
Sector *65Neutral$15.17B7.614.09%5.20%3.87%-62.32%
TSE:SHLETSE:SHLE53NeutralCAD 133.39M-10.41-6.25%―-20.49%-133.03%
TSE:SFDTSE:SFD44NeutralCAD 46.64M-5.51-62.62%―-83.49%-72.98%

* Energy Sector Average

Performance Comparison

-25%0%25%50%TSE:PSDTSE:ETSE:SFDTSE:HWOTSE:SHLETSE:MCBDec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26
TSE:PSD and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TSE:PSDPulse Seismic3.230.3612.39%
TSE:EEvolution Powerx Corp.1.760.4332.33%
TSE:SFDNXT Energy Solutn0.39-0.01-2.50%
TSE:HWOHigh Arctic Energy1.230.4353.13%
TSE:SHLESource Energy Services10.20-2.41-19.11%
TSE:MCBMccoy Global OTC2.56-0.90-26.01%

Pulse Seismic Corporate Events

Business Operations and StrategyExecutive/Board ChangesDividendsFinancial Disclosures

Pulse Seismic posts strong Q3 rebound and maintains dividend amid industry tailwinds

Positive
Oct 22, 2026

Pulse Seismic reported a sharp rebound in third-quarter 2026 performance, with revenue surging to $17.3 million from $3.4 million a year earlier, driving EBITDA of $14.7 million and net earnings of $11.4 million. Strong licensing activity, discipline...

Business Operations and StrategyFinancial Disclosures

Pulse Seismic posts surge in Q3 seismic licensing revenue despite lower year-to-date sales

Positive
Sep 30, 2026

Pulse Seismic reported preliminary third quarter 2026 seismic data licensing revenue of about $17.3 million, bringing expected total revenue for the first nine months of the year to roughly $22.8 million. Third quarter revenue jumped more than 400% y...

Business Operations and StrategyExecutive/Board Changes

Pulse Seismic Elevates Longtime CFO Pamela Wicks to CEO in Leadership Transition

Positive
Aug 6, 2026

Pulse Seismic Inc. has appointed longtime executive Pamela Wicks as President and CEO, effective August 6, 2026, marking a leadership transition at the Calgary-based seismic data specialist. Wicks, who has nearly three decades of experience in the se...

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 23, 2026