Secure Energy Services Inc.

TSX:SES Stock Report

Market Cap: CA$3.2b

Secure Energy Services Valuation

Is SES undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of SES when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: SES (CA$11.27) is trading below our estimate of fair value (CA$12.5)

Significantly Below Fair Value: SES is trading below fair value, but not by a significant amount.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for SES?

Other financial metrics that can be useful for relative valuation.

SES key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.5x
Enterprise Value/EBITDA7.8x
PEG Ratio695.7x

Price to Earnings Ratio vs Peers

How does SES's PE Ratio compare to its peers?

The above table shows the PE ratio for SES vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average12.3x
PSI Pason Systems
12.4x11.9%CA$1.2b
CEU CES Energy Solutions
7x2.1%CA$1.1b
TVK TerraVest Industries
22.7xn/aCA$1.0b
TCW Trican Well Service
6.9x-4.6%CA$848.9m
SES Secure Energy Services
16.1x0.02%CA$3.2b

Price-To-Earnings vs Peers: SES is expensive based on its Price-To-Earnings Ratio (16.1x) compared to the peer average (12.3x).


Price to Earnings Ratio vs Industry

How does SES's PE Ratio compare vs other companies in the CA Energy Services Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a10.2%
n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a10.2%
n/an/an/a
No more companies

Price-To-Earnings vs Industry: SES is expensive based on its Price-To-Earnings Ratio (16.1x) compared to the North American Energy Services industry average (11.7x).


Price to Earnings Ratio vs Fair Ratio

What is SES's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

SES PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio16.1x
Fair PE Ratio9x

Price-To-Earnings vs Fair Ratio: SES is expensive based on its Price-To-Earnings Ratio (16.1x) compared to the estimated Fair Price-To-Earnings Ratio (9x).


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst SES forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCA$11.27
CA$12.53
+11.2%
7.4%CA$14.00CA$11.00n/a9
Mar ’25CA$11.33
CA$12.53
+10.6%
7.4%CA$14.00CA$11.00n/a9
Feb ’25CA$10.39
CA$11.69
+12.6%
7.4%CA$13.00CA$10.50n/a9
Jan ’25CA$9.43
CA$10.88
+15.3%
8.8%CA$12.50CA$9.50n/a8
Dec ’24CA$8.29
CA$9.38
+13.1%
7.4%CA$10.50CA$8.50n/a8
Nov ’24CA$7.91
CA$9.25
+16.9%
8.5%CA$10.50CA$8.00n/a8
Oct ’24CA$7.46
CA$9.06
+21.5%
10.8%CA$10.50CA$7.50n/a8
Sep ’24CA$7.73
CA$8.81
+14.0%
11.0%CA$10.50CA$7.50n/a8
Aug ’24CA$7.00
CA$8.83
+26.1%
10.0%CA$10.50CA$7.50n/a10
Jul ’24CA$6.34
CA$8.61
+35.9%
11.4%CA$10.50CA$7.00n/a11
Jun ’24CA$6.00
CA$8.70
+45.1%
12.2%CA$10.50CA$7.00n/a11
May ’24CA$6.08
CA$8.70
+43.2%
12.2%CA$10.50CA$7.00n/a11
Apr ’24CA$6.31
CA$8.91
+41.2%
14.9%CA$11.50CA$7.00n/a11
Mar ’24CA$8.61
CA$10.48
+21.7%
8.3%CA$12.00CA$8.50CA$11.3311
Feb ’24CA$8.04
CA$10.48
+30.3%
8.3%CA$12.00CA$8.50CA$10.3911
Jan ’24CA$7.03
CA$10.32
+46.8%
9.5%CA$12.00CA$8.50CA$9.4311
Dec ’23CA$7.38
CA$10.32
+39.8%
9.5%CA$12.00CA$8.50CA$8.2911
Nov ’23CA$7.29
CA$9.39
+28.8%
8.6%CA$11.00CA$8.50CA$7.9111
Oct ’23CA$5.77
CA$8.98
+55.6%
6.8%CA$10.00CA$8.00CA$7.4611
Sep ’23CA$5.39
CA$8.98
+66.6%
6.8%CA$10.00CA$8.00CA$7.7311
Aug ’23CA$6.42
CA$9.09
+41.6%
6.9%CA$10.00CA$8.00CA$7.0011
Jul ’23CA$6.00
CA$8.93
+48.9%
6.4%CA$9.75CA$8.00CA$6.3411
Jun ’23CA$7.42
CA$8.91
+20.1%
6.1%CA$9.75CA$8.00CA$6.0011
May ’23CA$6.59
CA$8.82
+33.8%
5.6%CA$9.50CA$8.00CA$6.0811
Apr ’23CA$5.57
CA$8.11
+45.7%
5.1%CA$8.50CA$7.50CA$6.3111
Mar ’23CA$6.04
CA$8.00
+32.5%
4.8%CA$8.50CA$7.50CA$8.6111

Analyst Forecast: Target price is less than 20% higher than the current share price.


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