SECURE Waste Infrastructure (SES) AI Stock Analysis

• Market Cap: C$3.96B
• Dividend Yield: 2.22%
• Average Volume (3M): 766.37K
• Price to Earnings (P/E): 21.5
• Beta (1Y): 1.29
• Revenue Growth: 3.90%
• EPS Growth: -57.75%
• Country: CA
• Employees: 1,817
• Sector: Industrials
• Sector Strength: 72
• Industry: Waste Management
• EPS (TTM): 0.14
• Shares Outstanding: 219,838,710
• 10 Day Avg. Volume: 1,012,184
• 30 Day Avg. Volume: 766,372
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• 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$17.50
• Price Target Upside: -2.89% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 6

• Rating: 57 Neutral
• Price Target: C$17.00 ▼(-5.66% Downside)

The overall stock score reflects significant challenges in financial performance, particularly in revenue growth and cash flow stability. However, positive technical indicators and a cautiously optimistic earnings call provide some balance. The valuation suggests potential overvaluation, but the dividend yield offers some investor appeal.

Positive Factors

Strategic Project Completion

The completion of strategic projects like the Clearwater expansion enhances operational capacity and supports long-term growth, strengthening SES's market position.

Sustainability Achievements

Exceeding sustainability targets boosts SES's reputation and aligns with increasing regulatory and consumer demand for environmentally responsible practices.

Strong Balance Sheet

A strong balance sheet with extended credit facilities provides SES with financial flexibility to invest in growth opportunities and weather economic fluctuations.

Negative Factors

Revenue Growth Challenges

Challenges in revenue growth and declining margins indicate potential difficulties in maintaining profitability, which could impact long-term financial health.

High Leverage

High leverage increases financial risk, potentially limiting SES's ability to invest in growth and respond to market changes, impacting long-term stability.

Decline in Free Cash Flow

A decline in free cash flow growth suggests challenges in cash generation, which could affect SES's ability to fund 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 (SES) generates revenue through a diversified business model that includes service contracts, facility operations, and technology licensing. Key revenue streams include long-term municipal and industrial waste management contracts, fees for processing and recycling waste materials, and consulting services for sustainable infrastructure development. SES also benefits from partnerships with government agencies and private sector entities to develop and manage waste management facilities. Additionally, the company earns revenue by licensing its proprietary waste processing technologies to other waste management operators, further expanding its market reach and impact.

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	411.00M	422.00M	512.00M	493.00M	-60.00M	-2.57M
EBITDA	432.00M	931.00M	542.00M	527.00M	-40.00M	60.00M
Net Income	197.00M	582.00M	195.00M	184.00M	-204.00M	-87.19M
Balance Sheet
Total Assets	2.48B	2.28B	2.84B	2.84B	2.94B	1.42B
Cash, Cash Equivalents and Short-Term Investments	31.00M	26.00M	12.00M	12.00M	10.00M	6.78M
Total Debt	1.00B	454.00M	1.10B	1.03B	1.32B	434.38M
Total Liabilities	1.67B	1.24B	1.66B	1.57B	1.83B	711.08M
Stockholders Equity	817.00M	1.04B	1.19B	1.27B	1.11B	683.70M
Cash Flow
Free Cash Flow	207.00M	363.00M	227.00M	315.00M	31.00M	77.38M
Operating Cash Flow	357.00M	497.00M	430.00M	411.00M	74.00M	148.72M
Investing Cash Flow	-292.00M	954.00M	-155.00M	-58.00M	-43.00M	-60.06M
Financing Cash Flow	-39.00M	-1.44B	-272.00M	-346.00M	-26.00M	-89.32M

SECURE Waste Infrastructure Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 18.02
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:SES, the sentiment is Positive. The current price of 18.02 is above the 20-day moving average (MA) of 16.70, above the 50-day MA of 16.34, and above the 200-day MA of 15.12, indicating a bullish trend. The MACD of 0.30 indicates Negative momentum. The RSI at 71.78 is Negative, neither overbought nor oversold. The STOCH value of 95.21 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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	71 Outperform	61.85B	69.61	7.71%	0.73%	12.84%	-23.50%
SES	57 Neutral	C$3.96B	21.48	21.26%	2.22%	3.90%	-57.75%
GFL	52 Neutral	23.26B	-14.53	-22.62%	0.13%	-5.22%	-129.20%
BLM	52 Neutral	48.32M	-104.84	-2.61%	―	63.49%	-133.70%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%

SECURE Waste Infrastructure Corporate Events

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.