Stock STEP STEP ENERGY SERVICES LTD.
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Financials STEP Energy Services Ltd.

Equities

STEP

CA85859H1055

Oil Related Services and Equipment

Market Closed - Toronto S.E.
Other stock markets
 04:00:00 2024-04-26 pm EDT 		5-day change 1st Jan Change
4.04 CAD +1.00% Intraday chart for STEP Energy Services Ltd. +3.59% +3.06%
Mar. 13 STEP Energy Services Downgraded to Hold at Stifel FirstEnergy Following Q4 Results; Price Target cut to C$4.50 MT
Mar. 12 Toronto Stocks Edge Forward; Shares of Altius Minerals Rise on 4Q Revenue Beat DJ

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 104.9 50 109.7 381.6 283.2 290.1 - -
Enterprise Value (EV) 1 335 269.1 311.4 381.6 367.5 363.6 317.4 368.1
P/E ratio -0.73 x -0.42 x -3.93 x 4.07 x 5.85 x 4.75 x 3.96 x 4.21 x
Yield - - - - - - - -
Capitalization / Revenue 0.16 x 0.14 x 0.2 x 0.39 x 0.3 x 0.3 x 0.28 x 0.3 x
EV / Revenue 0.5 x 0.73 x 0.58 x 0.39 x 0.39 x 0.37 x 0.31 x 0.38 x
EV / EBITDA 4.25 x 8.71 x 4.95 x 1.92 x 2.25 x 2 x 1.64 x 1.89 x
EV / FCF 23.6 x 9.29 x 21.2 x - 5.53 x 7.6 x 5.58 x 6.09 x
FCF Yield 4.24% 10.8% 4.71% - 18.1% 13.2% 17.9% 16.4%
Price to Book 0.33 x 0.24 x 0.62 x - - - 0.6 x -
Nbr of stocks (in thousands) 66,799 67,571 68,157 71,590 72,233 71,807 - -
Reference price 2 1.570 0.7400 1.610 5.330 3.920 4.040 4.040 4.040
Announcement Date 3/12/20 3/17/21 3/16/22 3/2/23 3/11/24 - - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 668.3 368.9 536.3 989 945.7 979.6 1,021 975
EBITDA 1 78.81 30.88 62.96 198.9 163.6 181.7 194.1 194.4
EBIT 1 -27.74 - -16.68 90.26 77.84 67 86.75 75
Operating Margin -4.15% - -3.11% 9.13% 8.23% 6.84% 8.5% 7.69%
Earnings before Tax (EBT) 1 -175.1 -145.3 -30.62 120.6 67.44 58 80.7 68
Net income 1 -143.9 -119.4 -28.13 94.78 50.42 45 61.4 52
Net margin -21.53% -32.35% -5.24% 9.58% 5.33% 4.59% 6.01% 5.33%
EPS 2 -2.160 -1.770 -0.4100 1.310 0.6700 0.8500 1.020 0.9600
Free Cash Flow 1 14.2 28.98 14.67 - 66.43 47.85 56.9 60.45
FCF margin 2.13% 7.85% 2.74% - 7.02% 4.88% 5.57% 6.2%
FCF Conversion (EBITDA) 18.02% 93.83% 23.3% - 40.61% 26.33% 29.32% 31.1%
FCF Conversion (Net income) - - - - 131.75% 106.33% 92.67% 116.25%
Dividend per Share - - - - - - - -
Announcement Date 3/12/20 3/17/21 3/16/22 3/2/23 3/11/24 - - -
1CAD in Million2CAD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q3 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
Net sales 1 133.2 158.7 219.5 273 245.1 251.4 263.4 232.1 255.2 195 312 - - - 291.6
EBITDA 1 17.99 17.34 36.99 45.71 58.05 48.62 45.35 47.4 52.29 18.44 63.91 37.37 46.83 30.73 60.75
EBIT 0.224 -1.979 14.53 19.02 - 19.4 29.68 - - -4.406 - - - - -
Operating Margin 0.17% -1.25% 6.62% 6.97% - 7.72% 11.27% - - -2.26% - - - - -
Earnings before Tax (EBT) -3.292 -5.898 11.73 49.88 - 21.97 25.82 20.49 - -6.543 - - - - -
Net income -3.388 -6.212 9.173 38.06 - 16.69 19.66 15.27 20.73 -5.244 - - - - -
Net margin -2.54% -3.91% 4.18% 13.94% - 6.64% 7.46% 6.58% 8.12% -2.69% - - - - -
EPS 2 -0.0500 -0.0800 0.1320 0.5350 0.4300 0.2300 0.2600 0.2100 0.2800 -0.0700 0.4100 0.1000 0.2800 0.0800 0.4400
Dividend per Share - - - - - - - - - - - - - - -
Announcement Date 11/3/21 3/16/22 5/11/22 8/10/22 11/3/22 3/2/23 5/10/23 8/2/23 11/1/23 3/11/24 - - - - -
1CAD in Million2CAD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 230 219 202 - 84.4 73.5 27.3 78
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.92 x 7.094 x 3.202 x - 0.5157 x 0.4042 x 0.1408 x 0.4013 x
Free Cash Flow 1 14.2 29 14.7 - 66.4 47.9 56.9 60.5
ROE (net income / shareholders' equity) -35.9% -23.9% -14.7% - 15.2% 17% 17% -
ROA (Net income/ Total Assets) -2.24% - -5.84% - - 10% 11% -
Assets 1 6,422 - 481.8 - - 450 558.2 -
Book Value Per Share 4.820 3.020 2.600 - - - 6.690 -
Cash Flow per Share 2 0.8900 0.3600 0.7600 2.600 1.830 2.300 2.450 2.610
Capex 1 49.1 17.8 37.2 - 105 101 108 102
Capex / Sales 7.34% 4.83% 6.94% - 11.12% 10.27% 10.58% 10.46%
Announcement Date 3/12/20 3/17/21 3/16/22 3/2/23 3/11/24 - - -
1CAD in Million2CAD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Ratings for STEP Energy Services Ltd.

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
8
Last Close Price
4.04 CAD
Average target price
5.594 CAD
Spread / Average Target
+38.46%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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Oil Related Services
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