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Pulse Seismic
(TSX:PSD)
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Rating:63Neutral
Price Target:
C$3.50
▲(18.24% Upside)
Action:Reiterated
Date:10/02/26
The score is primarily supported by strong financial stability from very low leverage and historically high margins in favorable cycles. It is held back by pronounced recent cyclicality (sharp TTM revenue and free-cash-flow declines), overbought technical signals, and a very elevated P/E despite a solid dividend yield.
Positive Factors
Very Low Leverage
Extremely low leverage gives Pulse Seismic substantial financial flexibility and limits balance-sheet risk. The company has not relied on heavy borrowing to fund operations, preserving capacity to withstand weaker cycles and support future data-library investment.
Negative Factors
Severe Revenue Cyclicality
The sharp TTM revenue decline shows that demand for seismic licensing is highly sensitive to upstream activity and customer budgets. This cyclicality can create uneven revenue visibility, reduce operating leverage during downturns, and make sustained growth difficult between stronger industry periods.
Read all positive and negative factors
Positive Factors
Negative Factors
Very Low Leverage
Extremely low leverage gives Pulse Seismic substantial financial flexibility and limits balance-sheet risk. The company has not relied on heavy borrowing to fund operations, preserving capacity to withstand weaker cycles and support future data-library investment.
Read all positive factors
Pulse Seismic (PSD) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$147.07M
Dividend Yield5.2%
Average Volume (3M)15.16K
Price to Earnings (P/E)942.9
Beta (1Y)0.01
Revenue Growth-68.67%
EPS Growth-98.32%
CountryCA
Employees15
SectorEnergy
Sector Strength52
IndustryOil & Gas Equipment & Services
Share Statistics
EPS (TTM)<0.01
Shares Outstanding50,714,855
10 Day Avg. Volume15,100
30 Day Avg. Volume15,157
Financial Highlights & Ratios
PEG Ratio0.01
Price to Book (P/B)9.65
Price to Sales (P/S)3.27
P/FCF Ratio4.75
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
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 m...
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 da...
Pulse Seismic Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
86
Very Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 15.47M | 51.09M | 23.38M | 39.13M | 9.57M | 49.15M |
| Gross Profit | 10.53M | 42.10M | 14.20M | 29.94M | -505.00K | 38.53M |
| EBITDA | 6.41M | 40.85M | 15.97M | 30.98M | 2.14M | 42.36M |
| Net Income | 374.00K | 23.12M | 3.39M | 15.01M | -7.91M | 21.51M |
Balance Sheet | ||||||
| Total Assets | 13.15M | 22.84M | 21.52M | 41.25M | 35.22M | 52.90M |
| Cash, Cash Equivalents and Short-Term Investments | 8.45M | 19.75M | 8.72M | 15.95M | 5.82M | -500.00K |
| Total Debt | 139.00K | 134.00K | 204.00K | 269.00K | 21.00K | 2.77M |
| Total Liabilities | 2.55M | 5.53M | 3.22M | 15.59M | 1.73M | 8.76M |
| Stockholders Equity | 10.60M | 17.32M | 18.30M | 25.66M | 33.50M | 44.14M |
Cash Flow | ||||||
| Free Cash Flow | 1.60M | 35.15M | 13.93M | 23.50M | 11.98M | 29.44M |
| Operating Cash Flow | 1.71M | 35.20M | 14.20M | 23.52M | 11.99M | 29.80M |
| Investing Cash Flow | -112.00K | -58.00K | -270.00K | -28.00K | -12.00K | -358.00K |
| Financing Cash Flow | -19.03M | -24.12M | -21.15M | -13.37M | -6.16M | -29.44M |
Pulse Seismic Technical Analysis
Positive
2.96
Price Trends
3.00
Positive
3.17
Positive
3.49
Negative
Market Momentum
<0.01
Negative
77.38
Negative
72.03
Neutral
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 2.96 is above the 20-day moving average (MA) of 2.95, below the 50-day MA of 3.00, and below the 200-day MA of 3.49, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 77.38 is Negative, neither overbought nor oversold. The STOCH value of 72.03 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
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | C$13.20M | 8.11 | 7.22% | 356.67% | 19.80% | -93.88% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
63 Neutral | C$147.07M | 942.86 | 2.74% | 5.20% | -68.67% | -98.32% | |
63 Neutral | C$136.44M | 34.15 | 4.32% | 130.90% | 28.46% | 41.76% | |
60 Neutral | C$61.42M | 16.77 | 5.44% | 4.42% | -20.69% | -47.36% | |
49 Neutral | C$129.86M | -10.03 | -6.25% | ― | -20.49% | -133.03% | |
44 Neutral | C$35.87M | -4.94 | -62.62% | ― | -83.49% | -72.98% |
* Energy Sector Average
TSE:PSD
Pulse Seismic
3.31
-0.11
-3.22%
TSE:E
Evolution PowerX Corp
1.67
0.25
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TSE:SFD
NXT Energy Solutn
0.35
-0.16
-31.10%
TSE:HWO
High Arctic Energy Services
1.08
0.22
25.73%
TSE:SHLE
Source Energy Services Ltd
9.79
-3.57
-26.72%
TSE:MCB
McCoy Global
2.26
-1.49
-39.73%
Pulse Seismic Corporate Events
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...
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...
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.