Stock SES SECURE ENERGY SERVICES INC.
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Financials Secure Energy Services Inc.

Equities

SES

CA81373C1023

Oil & Gas Transportation Services

Market Closed - Toronto S.E.
Other stock markets
 04:00:00 2024-04-26 pm EDT 		5-day change 1st Jan Change
11.59 CAD +0.26% Intraday chart for Secure Energy Services Inc. +5.08% +22.91%
Apr. 26 Transcript : Secure Energy Services Inc. - Shareholder/Analyst Call
Apr. 25 Transcript : Secure Energy Services Inc., Q1 2024 Earnings Call, Apr 25, 2024

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 794.3 390.2 1,621 2,179 2,726 3,207 - -
Enterprise Value (EV) 1 1,288 817.8 2,927 3,198 3,816 3,406 3,385 4,027
P/E ratio - -4.47 x -6.05 x 11.9 x 14.5 x 18.4 x 13.9 x 9.66 x
Yield 5.34% 4.47% 0.57% 1.74% 4.24% 3.45% 3.51% 3.54%
Capitalization / Revenue 0.26 x 0.21 x 1.82 x 1.42 x 1.66 x 2.57 x 2.49 x 2.64 x
EV / Revenue 0.42 x 0.45 x 3.28 x 2.08 x 2.32 x 2.73 x 2.63 x 3.31 x
EV / EBITDA 7.15 x 6 x 10.2 x 5.74 x 6.47 x 7.47 x 7.14 x 8.54 x
EV / FCF 20.8 x 24.3 x 23.2 x 10.2 x 14.1 x 6.29 x 13.1 x 17.2 x
FCF Yield 4.8% 4.12% 4.3% 9.85% 7.1% 15.9% 7.66% 5.81%
Price to Book 1.02 x 0.57 x 1.47 x 1.72 x 2.29 x 2.07 x 1.93 x -
Nbr of stocks (in thousands) 156,980 158,630 308,152 309,992 289,100 276,694 - -
Reference price 2 5.060 2.460 5.260 7.030 9.430 11.59 11.59 11.59
Announcement Date 2/24/20 2/25/21 3/2/22 3/2/23 2/26/24 - - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 3,072 1,824 893 1,534 1,647 1,248 1,287 1,215
EBITDA 1 180.2 136.2 286 557 590 455.9 473.8 471.7
EBIT 1 24.19 -84.96 -210 379 387 261 286.5 311
Operating Margin 0.79% -4.66% -23.52% 24.71% 23.5% 20.91% 22.27% 25.6%
Earnings before Tax (EBT) 1 -0.723 -109.8 -273 - 257 223.5 212 225
Net income 1 1.6 -85.21 -203 184 195 175.3 184 171
Net margin 0.05% -4.67% -22.73% 11.99% 11.84% 14.05% 14.3% 14.07%
EPS 2 - -0.5500 -0.8700 0.5900 0.6500 0.6300 0.8367 1.200
Free Cash Flow 1 61.88 33.7 126 315 271 541.8 259.2 234
FCF margin 2.01% 1.85% 14.11% 20.53% 16.45% 43.4% 20.15% 19.26%
FCF Conversion (EBITDA) 34.34% 24.74% 44.06% 56.55% 45.93% 118.82% 54.71% 49.61%
FCF Conversion (Net income) 3,867.5% - - 171.2% 138.97% 308.98% 140.89% 136.84%
Dividend per Share 2 0.2700 0.1100 0.0300 0.1225 0.4000 0.4000 0.4067 0.4100
Announcement Date 2/24/20 2/25/21 3/2/22 3/2/23 2/26/24 - - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 Q2
Net sales 327 359 355 419 401 416 353 427 451 360 - - - - -
EBITDA 1 111 126 127 154 150 151 119 158 162 132 92.01 118.5 118.6 124.2 99.36
EBIT - - - - - - - - - - - - - - -
Operating Margin - - - - - - - - - - - - - - -
Earnings before Tax (EBT) - - - - - - - - - - - - - - -
Net income -166 38 54 60 32 55 - - - - - - - - -
Net margin -50.76% 10.58% 15.21% 14.32% 7.98% 13.22% - - - - - - - - -
EPS 2 -0.5400 0.1200 0.1700 0.1900 0.1000 0.1800 0.1100 0.1600 0.2000 1.470 0.1500 0.1900 0.1550 - -
Dividend per Share 0.007500 0.007500 0.007500 0.007500 0.1000 0.1000 0.1000 0.1000 0.1000 - - - - - -
Announcement Date 3/2/22 4/28/22 7/27/22 11/2/22 3/2/23 4/27/23 7/27/23 11/1/23 2/26/24 4/25/24 - - - - -
1CAD in Million2CAD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 494 428 1,306 1,019 1,090 199 178 820
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.741 x 3.139 x 4.566 x 1.829 x 1.847 x 0.4349 x 0.3753 x 1.739 x
Free Cash Flow 1 61.9 33.7 126 315 271 462 259 234
ROE (net income / shareholders' equity) 0.2% -11.6% -18% 15.5% - 12% 12% -
ROA (Net income/ Total Assets) 0.1% -5.55% -9.41% 6.37% - 1% 7% -
Assets 1 1,616 1,536 2,157 2,888 - 17,533 2,629 -
Book Value Per Share 2 4.980 4.310 3.590 4.090 4.120 5.130 5.600 -
Cash Flow per Share 2 0.9600 0.6600 0.7500 1.290 1.580 1.330 1.530 1.790
Capex 1 135 71.3 43 96 203 137 127 122
Capex / Sales 4.38% 3.91% 4.82% 6.26% 12.33% 10.96% 9.9% 10%
Announcement Date 2/24/20 2/25/21 3/2/22 3/2/23 2/26/24 - - -
1CAD in Million2CAD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Secure Energy Services Inc.

Trading Rating
Investor Rating
ESG Refinitiv
B+
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
9
Last Close Price
11.59 CAD
Average target price
13.5 CAD
Spread / Average Target
+16.48%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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