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Updated 10d ago
SES logo

SECURE Waste Infrastructure Corp.TSX:SES Stock Report

Market Cap CA$5.4b
Updated 10d ago
Share Price
n/a
1Y46.6%
7D2.1%
1D-0.9%
Portfolio Value
​
View

SECURE Waste Infrastructure Corp.

TSX:SES Stock Report

Market Cap: CA$5.4b

  • Company Overview
  • Valuation
  • Future Growth
  • Past Performance
  • Financial Health
  • Dividend
  • Management
  • Ownership
  • Other Information
  • Stock Community

This company listing is no longer active

This company may still be operating, however this listing is no longer active. Find out why through their latest events.

SECURE Waste Infrastructure (SES) Stock Overview

Engages in the waste management and energy infrastructure businesses primarily in Canada and the United States. More details

SES fundamental analysis
Snowflake Score
Valuation3/6
Future Growth3/6
Past Performance3/6
Financial Health3/6
Dividends5/6

Rewards

Trading at 49.8% below our estimate of its fair value

Earnings are forecast to grow 34.41% per year

Pays a reliable dividend of 1.73%

Risk Analysis

Has a high level of debt


SES Community Fair Values

Create Narrative

See what 50 others think this stock is worth. Follow their fair value or set your own to get alerts.

Analyst Price Targets

AN
AnalystConsensusTarget
22.2% overvalued intrinsic discount
AnalystConsensusTarget
•10mo ago

Produced Water Disposal And Metals Recycling Will Fuel Canadian Success

235
0
30

Top Analyst Narratives

SES logo
SECURE Waste Infrastructure
22.2% overvalued intrinsic discount

Produced Water Disposal And Metals Recycling Will Fuel Canadian Success

View narrative
AN
AnalystConsensusTarget
AnalystConsensusTarget
Updated 17 Oct 2025
Read Narrative
View all narratives

SECURE Waste Infrastructure Corp. Competitors

Paramount Resources

Symbol: TSX:POU
Market cap: CA$4.6b

Spartan Delta

Symbol: TSX:SDE
Market cap: CA$2.8b

Gibson Energy

Symbol: TSX:GEI
Market cap: CA$5.5b

International Petroleum

Symbol: TSX:IPCO
Market cap: CA$4.1b

Price History & Performance

Summary of share price highs, lows and changes for SECURE Waste Infrastructure
Historical stock prices
Current Share PriceCA$24.34
52 Week HighCA$24.97
52 Week LowCA$15.44
Beta0.73
1 Month Change0.75%
3 Month Change15.96%
1 Year Change46.63%
3 Year Change216.52%
5 Year Change476.78%
Change since IPO685.16%

Recent News & Updates

Recent updates

Analysis Article • Jan 13

SECURE Waste Infrastructure (TSE:SES) Has A Somewhat Strained Balance Sheet

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that...
Analysis Article • Dec 19

SECURE Waste Infrastructure (TSE:SES) Has Affirmed Its Dividend Of CA$0.10

SECURE Waste Infrastructure Corp.'s ( TSE:SES ) investors are due to receive a payment of CA$0.10 per share on 15th of...
User avatar
Narrative Update • Oct 17

Produced Water Disposal And Metals Recycling Will Fuel Canadian Success

The analyst price target for SECURE Waste Infrastructure increased from C$18.78 to C$19.92. Analysts cited improved revenue growth projections and recent positive research updates to support their outlook.
Analysis Article • Oct 07

Optimistic Investors Push SECURE Waste Infrastructure Corp. (TSE:SES) Shares Up 27% But Growth Is Lacking

SECURE Waste Infrastructure Corp. ( TSE:SES ) shares have continued their recent momentum with a 27% gain in the last...
User avatar
Narrative Update • Oct 03

Produced Water Disposal And Metals Recycling Will Fuel Canadian Success

Analysts have raised their fair value estimate for SECURE Waste Infrastructure from $18.11 to $18.78, citing recent upward revisions to target prices and ongoing confidence in the company’s outlook. Analyst Commentary Bullish Takeaways Bullish analysts have raised price targets multiple times in recent months.
Analysis Article • Mar 21

SECURE Waste Infrastructure (TSE:SES) Is Due To Pay A Dividend Of CA$0.10

SECURE Waste Infrastructure Corp. ( TSE:SES ) will pay a dividend of CA$0.10 on the 15th of April. The dividend yield...
User avatar
New Narrative • Mar 15

Metal Recycling Acquisition And Expansions May Offset Revenue Challenges Ahead

Strategic acquisitions and expansions are expected to create synergies and improve efficiencies, potentially enhancing net margins and revenue growth.
Analysis Article • Feb 17

Is There An Opportunity With SECURE Waste Infrastructure Corp.'s (TSE:SES) 26% Undervaluation?

Key Insights SECURE Waste Infrastructure's estimated fair value is CA$19.86 based on 2 Stage Free Cash Flow to Equity...
Analysis Article • Jan 25

Should You Be Adding SECURE Waste Infrastructure (TSE:SES) To Your Watchlist Today?

The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even...
Analysis Article • Nov 06

We Think Shareholders Should Be Aware Of Some Factors Beyond Secure Energy Services' (TSE:SES) Profit

Secure Energy Services Inc. ( TSE:SES ) recently released a strong earnings report, and the market responded by raising...
Analysis Article • Nov 02

Improved Earnings Required Before Secure Energy Services Inc. (TSE:SES) Stock's 31% Jump Looks Justified

The Secure Energy Services Inc. ( TSE:SES ) share price has done very well over the last month, posting an excellent...
Analysis Article • Sep 23

Secure Energy Services (TSE:SES) Is Paying Out A Dividend Of CA$0.10

Secure Energy Services Inc.'s ( TSE:SES ) investors are due to receive a payment of CA$0.10 per share on 15th of...
Analysis Article • Jul 25

Is Secure Energy Services (TSE:SES) Using Too Much Debt?

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that...
Analysis Article • Jun 21

Secure Energy Services' (TSE:SES) Dividend Will Be CA$0.10

Secure Energy Services Inc.'s ( TSE:SES ) investors are due to receive a payment of CA$0.10 per share on 15th of July...
Analysis Article • May 03

We Believe Secure Energy Services' (TSE:SES) Earnings Are A Poor Guide For Its Profitability

Secure Energy Services Inc.'s ( TSE:SES ) stock rose after it released a robust earnings report. Despite the strong...
Analysis Article • Apr 07

A Look At The Fair Value Of Secure Energy Services Inc. (TSE:SES)

Key Insights The projected fair value for Secure Energy Services is CA$12.31 based on 2 Stage Free Cash Flow to Equity...
Analysis Article • Mar 21

Secure Energy Services' (TSE:SES) Dividend Will Be CA$0.10

The board of Secure Energy Services Inc. ( TSE:SES ) has announced that it will pay a dividend of CA$0.10 per share on...

Shareholder Returns

SESCA Oil and GasCA Market
7D2.1%-0.8%-2.5%
1Y46.6%35.6%21.7%

Return vs Industry: SES exceeded the Canadian Oil and Gas industry which returned 38.3% over the past year.

Return vs Market: SES exceeded the Canadian Market which returned 27.1% over the past year.

Price Volatility

Is SES's price volatile compared to industry and market?
SES volatility
SES Average Weekly Movement3.5%
Oil and Gas Industry Average Movement7.6%
Market Average Movement9.4%
10% most volatile stocks in CA Market16.5%
10% least volatile stocks in CA Market3.7%

Stable Share Price: SES has not had significant price volatility in the past 3 months compared to the Canadian market.

Volatility Over Time: SES's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
20071,937Allen Granschsecure.ca

SECURE Waste Infrastructure Corp. engages in the waste management and energy infrastructure businesses primarily in Canada and the United States. The company operates through two segments: Waste Management and Energy Infrastructure. The Waste Management segment manages a network of permitted processing, recovery, and disposal infrastructure, optimizing the handling of hazardous and non-hazardous liquids, solids, emulsions, and industrial by-products, enabling recycling of metals and recovered oil, and offering compliant long-term solutions for residual waste; specialty chemical solutions are used to enhance processing efficiency and reduce waste intensity; metal recycling, drilling waste management, water disposal, and landfill disposal; and integrated network includes waste transfer stations, waste processing facilities, produced water pipelines, metals recycling, industrial landfills, generating highly recurring, infrastructure-driven cash flows supported by significant regulatory and capital barriers to entry.

SECURE Waste Infrastructure Corp. Fundamentals Summary

How do SECURE Waste Infrastructure's earnings and revenue compare to its market cap?
SES fundamental statistics
Market capCA$5.35b
Earnings (TTM)CA$132.00m
Revenue (TTM)CA$1.54b
40.2x
P/E Ratio
3.4x
P/S Ratio

Is SES overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
SES income statement (TTM)
RevenueCA$1.54b
Cost of RevenueCA$1.09b
Gross ProfitCA$451.00m
Other ExpensesCA$319.00m
EarningsCA$132.00m

Last Reported Earnings

Jun 30, 2026

Next Earnings Date

n/a

Earnings per share (EPS)0.61
Gross Margin29.23%
Net Profit Margin8.55%
Debt/Equity Ratio106.5%

How did SES perform over the long term?

See historical performance and comparison

Dividends

1.7%
Current Dividend Yield
68%
Payout Ratio

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/09/01 09:18
End of Day Share Price 2026/09/01 00:00
Earnings2026/06/30
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
  • SEC Form 10-K
  • SEC Form 10-Q
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
  • Analyst Research Reports
  • Blue Matrix
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
  • ICE Market Data
  • SEC Form S-1
Ownership10 years
  • Top shareholders
  • Insider trading
  • SEC Form 4
  • SEC Form 13D
Management10 years
  • Leadership team
  • Board of directors
  • SEC Form 10-K
  • SEC Form DEF 14A
Key Developments10 years
  • Company announcements
  • SEC Form 8-K

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

SECURE Waste Infrastructure Corp. is covered by 19 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Nathan HeywoodATB Cormark
Tim MonachelloATB Cormark
John GibsonBMO Capital Markets Equity Research

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