SECURE Waste Infrastructure (SES) AI Stock Analysis

• Market Cap: C$3.64B
• Dividend Yield: 2.32%
• Average Volume (3M): 978.46K
• Price to Earnings (P/E): 36.8
• Beta (1Y): 1.53
• Revenue Growth: -1.47%
• EPS Growth: -79.68%
• Country: CA
• Employees: 1,817
• Sector: Industrials
• Sector Strength: 72
• Industry: Waste Management
• EPS (TTM): 0.00
• Shares Outstanding: 219,838,710
• 10 Day Avg. Volume: 1,130,078
• 30 Day Avg. Volume: 978,461
• PEG Ratio: 0.03
• Price to Book (P/B): 3.73
• Price to Sales (P/S): 0.36
• P/FCF Ratio: 10.72
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$20.93
• Price Target Upside: 21.33% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 7
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 51 Neutral
• Price Target: C$17.50 ▲(1.45% Upside)

The overall stock score of 51 reflects significant financial performance challenges, including declining revenue and profitability, and high leverage. While the company demonstrates strategic adaptability and strong cash flows, market-driven challenges in the metal recycling segment and a high P/E ratio suggest caution. Technical indicators provide mixed signals, further supporting a cautious outlook.

Positive Factors

Strategic Project Completion

The completion of strategic projects like the Clearwater expansion enhances operational capacity and positions the company for future growth, supporting long-term revenue stability.

Sustainability Achievements

Exceeding sustainability targets strengthens the company's reputation and aligns with increasing regulatory and consumer focus on environmental responsibility, potentially attracting more clients.

Strong Balance Sheet

A strong balance sheet with extended credit facilities enhances financial flexibility, allowing the company to invest in growth opportunities and weather economic uncertainties.

Negative Factors

Declining Margins

Low profit margins indicate challenges in cost management and pricing power, potentially affecting long-term profitability and competitiveness in the market.

High Leverage

Significant leverage can limit financial flexibility and increase risk, especially in volatile markets, potentially impacting the company's ability to invest in growth.

Liquidity Concerns

Declining free cash flow growth raises concerns about the company's ability to generate cash, which is crucial for funding operations and strategic initiatives.

SECURE Waste Infrastructure Business Overview & Revenue Model

Company Description

Secure Waste Infrastructure Corp., an energy services company, provides solutions to upstream oil and natural gas companies operating primarily in Western Canadian Sedimentary Basin and the United States. It operates through two segments, Midstream Infrastructure, and Environmental and Fluid Management. The company's Midstream Infrastructure segment provides services, such as clean oil terminalling, rail transloading, pipeline transportation, marketing and custom treating of crude oil, produced and waste water disposal, oilfield waste processing, and purchase/resale of oil services through its full service terminals, rail facilities, crude oil pipelines, crude oil terminalling facilities, water disposal facilities, and landfills. The Environmental and Fluid Management segment includes a network of owned, operated, and marketed industrial landfills, hazardous and non-hazardous waste management and disposal, onsite abandonment, and environmental solutions for site remediation and reclamation, bio-remediation, water treatment and recycling, emergency response, rail, and metal recycling services, as well as offers fluid management for drilling, completion, and production operations for oil and gas producers. This segment also designs and implements drilling fluid systems for producers drilling for oil, bitumen, and natural gas; provides naturally occurring radioactive material management services, as well as equipment and chemical solutions that optimize well production. Secure Energy Services Inc. is headquartered in Calgary, Canada.

How the Company Makes Money

SECURE Waste Infrastructure generates revenue through multiple streams, primarily from its waste management services, which include collection fees, processing charges for recycling and treatment of waste, and tipping fees for waste disposal at its landfills. Additionally, SES earns income from long-term contracts with municipalities and industries for waste management services, ensuring a steady cash flow. The company may also benefit from partnerships with local governments and industries that require comprehensive waste solutions, as well as from the sale of recovered materials from recycling operations. Seasonal and economic fluctuations can impact revenue, but SES's diverse service offerings help mitigate risks associated with market volatility.

SECURE Waste Infrastructure Financial Statement Overview

Summary

SECURE Waste Infrastructure faces challenges in revenue growth and profitability, with declining margins and high leverage. The significant decline in free cash flow growth and moderate cash flow ratios suggest potential liquidity issues. The financial health of the company appears to be under pressure, requiring strategic improvements to enhance profitability and cash flow stability.

Income Statement

SECURE Waste Infrastructure's income statement shows a declining revenue trend with a negative growth rate of -0.796% in the TTM period. Gross profit and net profit margins are relatively low at 3.97% and 1.90%, respectively, indicating challenges in maintaining profitability. The EBIT and EBITDA margins have also decreased, reflecting operational inefficiencies. Despite past revenue growth, recent performance suggests potential risks in sustaining profitability.

Balance Sheet

The balance sheet reveals a high debt-to-equity ratio of 1.23 in the TTM period, indicating significant leverage. Return on equity is at 20.28%, showing some efficiency in generating returns from equity. However, the equity ratio is not provided, limiting a full assessment of asset financing. The high leverage poses a risk, but the company has managed to maintain a reasonable ROE.

Cash Flow

Cash flow analysis indicates a significant decline in free cash flow growth at -52.41% in the TTM period, raising concerns about cash generation capabilities. The operating cash flow to net income ratio is 0.68, suggesting moderate cash flow efficiency. The free cash flow to net income ratio is 0.58, indicating that not all net income is translating into free cash flow. These metrics highlight potential liquidity challenges.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	10.34B	10.67B	8.24B	8.00B	3.77B	1.82B
Gross Profit	395.00M	405.00M	491.00M	470.00M	187.00M	36.00M
EBITDA	437.00M	941.00M	556.00M	527.00M	-40.00M	60.00M
Net Income	197.00M	582.00M	195.00M	184.00M	-203.00M	-85.00M
Balance Sheet
Total Assets	2.48B	2.28B	2.84B	2.84B	2.94B	1.38B
Cash, Cash Equivalents and Short-Term Investments	31.00M	26.00M	12.00M	12.00M	10.00M	7.00M
Total Debt	1.00B	454.00M	1.10B	1.03B	1.32B	434.00M
Total Liabilities	1.67B	1.24B	1.66B	1.57B	1.83B	659.00M
Stockholders Equity	817.00M	1.04B	1.19B	1.27B	1.11B	687.00M
Cash Flow
Free Cash Flow	207.00M	363.00M	227.00M	315.00M	14.00M	78.00M
Operating Cash Flow	357.00M	497.00M	430.00M	411.00M	57.00M	149.00M
Investing Cash Flow	-292.00M	954.00M	-155.00M	-58.00M	-43.00M	-58.00M
Financing Cash Flow	-39.00M	-1.44B	-272.00M	-346.00M	-9.00M	-92.00M

SECURE Waste Infrastructure Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 17.25
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:SES, the sentiment is Neutral. The current price of 17.25 is below the 20-day moving average (MA) of 18.11, below the 50-day MA of 17.97, and above the 200-day MA of 15.51, indicating a neutral trend. The MACD of -0.29 indicates Positive momentum. The RSI at 41.84 is Neutral, neither overbought nor oversold. The STOCH value of 11.56 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:SES.

SECURE Waste Infrastructure Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
WCN	72 Outperform	$60.87B	70.80	7.61%	0.76%	10.49%	-32.11%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
BLM	54 Neutral	C$58.28M	―	-3.01%	―	63.49%	-133.70%
GFL	53 Neutral	C$22.34B	―	-0.03%	0.14%	-5.22%	-129.20%
SES	51 Neutral	C$3.64B	36.79	11.37%	2.32%	-1.47%	-79.68%

SECURE Waste Infrastructure Corporate Events

SECURE Waste Infrastructure Corp. Reports Strong Q3 2025 Results and Positive Outlook

SECURE Waste Infrastructure Corp. reported a third-quarter Adjusted EBITDA of $135 million, reflecting a 17% increase per share from the previous year. Despite a slight revenue decrease due to reduced drilling activity, the company expects solid growth in 2026, driven by strategic infrastructure projects and market repositioning. The company also maintained its financial flexibility and continued its capital allocation strategy, including share repurchases and dividends.

The most recent analyst rating on (TSE:SES) stock is a Buy with a C$22.00 price target. To see the full list of analyst forecasts on SECURE Waste Infrastructure stock, see the TSE:SES Stock Forecast page.

SECURE Waste Infrastructure Announces Dividend and Q3 Results Release

SECURE Waste Infrastructure Corp. has announced a quarterly dividend of $0.10 per common share, payable on October 15, 2025, to shareholders of record on October 1, 2025. Additionally, the company will release its third-quarter financial results on October 30, 2025, followed by a conference call to discuss the results. This announcement reflects SECURE’s ongoing commitment to providing value to its shareholders and maintaining transparency in its financial operations, potentially impacting its market positioning and stakeholder relations positively.

The most recent analyst rating on (TSE:SES) stock is a Hold with a C$16.00 price target. To see the full list of analyst forecasts on SECURE Waste Infrastructure stock, see the TSE:SES Stock Forecast page.