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Secure Energy Services

TSX:SES
Snowflake Description

Moderate growth potential with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SES
TSX
CA$1B
Market Cap
  1. Home
  2. CA
  3. Energy
Company description

Secure Energy Services Inc., an energy services company, provides specialized solutions to upstream oil and natural gas companies operating primarily in the Western Canadian Sedimentary Basin and North Dakota. The last earnings update was 50 days ago. More info.


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SES Share Price and Events
7 Day Returns
-1.5%
TSX:SES
-0.4%
CA Energy Services
0.6%
CA Market
1 Year Returns
3.2%
TSX:SES
-16.9%
CA Energy Services
4.4%
CA Market
SES Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Secure Energy Services (SES) -1.5% -3.2% 3.1% 3.2% -8.9% -58.2%
CA Energy Services -0.4% 3% 5.4% -16.9% -8.5% -64.7%
CA Market 0.6% 2.2% 8.8% 4.4% 15.7% 7.1%
1 Year Return vs Industry and Market
  • SES outperformed the Energy Services industry which returned -16.9% over the past year.
  • SES underperformed the Market in Canada which returned 4.4% over the past year.
Price Volatility
SES
Industry
5yr Volatility vs Market

Value

 Is Secure Energy Services undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Secure Energy Services to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Secure Energy Services.

TSX:SES Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 8 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.6%
Perpetual Growth Rate 10-Year CA Government Bond Rate 1.9%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for TSX:SES
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year CA Govt Bond Rate 1.9%
Equity Risk Premium S&P Global 6%
Energy Services Unlevered Beta Simply Wall St/ S&P Global 1.16
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.157 (1 + (1- 26.5%) (31.98%))
1.288
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.29
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.95% + (1.288 * 5.96%)
9.62%

Discounted Cash Flow Calculation for TSX:SES using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Secure Energy Services is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

TSX:SES DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 9.62%)
2019 140.70 Analyst x2 128.35
2020 141.08 Analyst x4 117.40
2021 142.16 Est @ 0.77% 107.92
2022 143.76 Est @ 1.12% 99.55
2023 145.73 Est @ 1.37% 92.06
2024 147.98 Est @ 1.54% 85.27
2025 150.44 Est @ 1.66% 79.08
2026 153.07 Est @ 1.75% 73.40
2027 155.84 Est @ 1.81% 68.17
2028 158.72 Est @ 1.85% 63.34
Present value of next 10 years cash flows CA$914.54
TSX:SES DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CA$158.72 × (1 + 1.95%) ÷ (9.62% – 1.95%)
CA$2,108.34
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$2,108.34 ÷ (1 + 9.62%)10
CA$841.33
TSX:SES Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$914.54 + CA$841.33
CA$1,755.87
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$1,755.87 / 160.49
CA$10.94
TSX:SES Discount to Share Price
Calculation Result
Value per share (CAD) From above. CA$10.94
Current discount Discount to share price of CA$8.37
= -1 x (CA$8.37 - CA$10.94) / CA$10.94
23.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Secure Energy Services is available for.
Intrinsic value
23%
Share price is CA$8.37 vs Future cash flow value of CA$10.94
Current Discount Checks
For Secure Energy Services to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Secure Energy Services's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Secure Energy Services's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Secure Energy Services's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Secure Energy Services's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
TSX:SES PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CAD CA$0.12
TSX:SES Share Price ** TSX (2019-04-16) in CAD CA$8.37
Canada Energy Services Industry PE Ratio Median Figure of 15 Publicly-Listed Energy Services Companies 18.17x
Canada Market PE Ratio Median Figure of 556 Publicly-Listed Companies 15.47x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Secure Energy Services.

TSX:SES PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= TSX:SES Share Price ÷ EPS (both in CAD)

= 8.37 ÷ 0.12

68.46x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Secure Energy Services is overvalued based on earnings compared to the CA Energy Services industry average.
  • Secure Energy Services is overvalued based on earnings compared to the Canada market.
Price based on expected Growth
Does Secure Energy Services's expected growth come at a high price?
Raw Data
TSX:SES PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 68.46x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
35.3%per year
Canada Energy Services Industry PEG Ratio Median Figure of 12 Publicly-Listed Energy Services Companies 1.28x
Canada Market PEG Ratio Median Figure of 254 Publicly-Listed Companies 1.2x

*Line of best fit is calculated by linear regression .

TSX:SES PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 68.46x ÷ 35.3%

1.94x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Secure Energy Services is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Secure Energy Services's assets?
Raw Data
TSX:SES PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CAD CA$5.30
TSX:SES Share Price * TSX (2019-04-16) in CAD CA$8.37
Canada Energy Services Industry PB Ratio Median Figure of 42 Publicly-Listed Energy Services Companies 0.92x
Canada Market PB Ratio Median Figure of 2,369 Publicly-Listed Companies 1.52x
TSX:SES PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= TSX:SES Share Price ÷ Book Value per Share (both in CAD)

= 8.37 ÷ 5.30

1.58x

* Primary Listing of Secure Energy Services.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Secure Energy Services is overvalued based on assets compared to the CA Energy Services industry average.
X
Value checks
We assess Secure Energy Services's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Energy Services industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Energy Services industry average (and greater than 0)? (1 check)
  5. Secure Energy Services has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Secure Energy Services expected to perform in the next 1 to 3 years based on estimates from 8 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
35.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Secure Energy Services expected to grow at an attractive rate?
  • Secure Energy Services's earnings growth is expected to exceed the low risk savings rate of 1.9%.
Growth vs Market Checks
  • Secure Energy Services's earnings growth is expected to exceed the Canada market average.
  • Secure Energy Services's revenue growth is positive but not above the Canada market average.
Annual Growth Rates Comparison
Raw Data
TSX:SES Future Growth Rates Data Sources
Data Point Source Value (per year)
TSX:SES Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 35.3%
TSX:SES Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts 4.2%
Canada Energy Services Industry Earnings Growth Rate Market Cap Weighted Average 39.5%
Canada Energy Services Industry Revenue Growth Rate Market Cap Weighted Average 9.1%
Canada Market Earnings Growth Rate Market Cap Weighted Average 18.2%
Canada Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
TSX:SES Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
All numbers in CAD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
TSX:SES Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 3,163 202 41 8
2019-12-31 2,901 174 30 8
TSX:SES Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2018-12-31 2,937 187 20
2018-09-30 2,934 150 -18
2018-06-30 2,719 133 -25
2018-03-31 2,583 99 -32
2017-12-31 2,328 109 -34
2017-09-30 2,179 101 -20
2017-06-30 1,967 115 -28
2017-03-31 1,652 101 -35
2016-12-31 1,410 97 -49
2016-09-30 1,170 121 -126
2016-06-30 1,101 111 -171
2016-03-31 1,189 186 -167

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Secure Energy Services's earnings are expected to grow significantly at over 20% yearly.
  • Secure Energy Services's revenue is expected to grow by 4.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
TSX:SES Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below

All data from Secure Energy Services Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:SES Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 0.27 0.30 0.24 6.00
2019-12-31 0.17 0.24 0.12 6.00
TSX:SES Past Financials Data
Date (Data in CAD Millions) EPS *
2018-12-31 0.12
2018-09-30 -0.11
2018-06-30 -0.15
2018-03-31 -0.19
2017-12-31 -0.21
2017-09-30 -0.13
2017-06-30 -0.18
2017-03-31 -0.22
2016-12-31 -0.32
2016-09-30 -0.84
2016-06-30 -1.19
2016-03-31 -1.21

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Secure Energy Services is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Secure Energy Services's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Canada market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Canada market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Secure Energy Services has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Secure Energy Services performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Secure Energy Services's growth in the last year to its industry (Energy Services).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Secure Energy Services's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Secure Energy Services has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Secure Energy Services has become profitable in the last year making it difficult to compare the CA Energy Services industry average.
Earnings and Revenue History
Secure Energy Services's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Secure Energy Services Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

TSX:SES Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 2,937.45 19.93 94.86
2018-09-30 2,933.96 -17.95 99.38
2018-06-30 2,718.66 -24.94 95.88
2018-03-31 2,583.06 -31.57 93.84
2017-12-31 2,328.21 -34.20 82.30
2017-09-30 2,179.18 -20.34 86.58
2017-06-30 1,967.24 -28.29 82.91
2017-03-31 1,651.52 -35.44 77.97
2016-12-31 1,410.06 -48.94 73.87
2016-09-30 1,169.51 -125.69 72.82
2016-06-30 1,101.05 -170.61 71.08
2016-03-31 1,189.01 -166.71 76.11
2015-12-31 1,346.43 -159.87 85.77
2015-09-30 1,634.54 -86.70 92.16
2015-06-30 1,900.62 -18.91 97.47
2015-03-31 2,111.99 4.44 99.33
2014-12-31 2,271.65 30.65 94.45
2014-09-30 2,081.51 55.85 87.14
2014-06-30 1,925.86 53.13 84.47
2014-03-31 1,695.77 44.19 75.70
2013-12-31 1,492.54 38.96 69.85
2013-09-30 1,383.45 38.05 65.21
2013-06-30 1,188.90 32.37 57.78
2013-03-31 1,074.71 35.83 52.70
2012-12-31 1,029.44 33.05 48.13
2012-09-30 981.84 32.71 44.36
2012-06-30 890.83 34.21 41.64

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Secure Energy Services has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Secure Energy Services used its assets less efficiently than the CA Energy Services industry average last year based on Return on Assets.
  • Secure Energy Services has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess Secure Energy Services's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Energy Services industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Secure Energy Services has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Secure Energy Services's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Secure Energy Services's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Secure Energy Services is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Secure Energy Services's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Secure Energy Services's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Secure Energy Services Company Filings, last reported 3 months ago.

TSX:SES Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 844.32 429.61 7.93
2018-09-30 847.69 404.82 9.57
2018-06-30 860.54 344.51 1.05
2018-03-31 878.53 354.97 3.81
2017-12-31 874.49 311.33 9.73
2017-09-30 901.93 271.92 2.94
2017-06-30 910.88 229.48 20.26
2017-03-31 930.36 195.59 5.18
2016-12-31 927.05 217.21 3.43
2016-09-30 929.56 211.25 3.09
2016-06-30 933.90 187.52 6.01
2016-03-31 948.35 131.06 7.29
2015-12-31 824.51 276.60 4.86
2015-09-30 913.47 274.76 2.67
2015-06-30 951.50 254.63 5.29
2015-03-31 968.21 268.32 4.48
2014-12-31 762.30 419.90 4.88
2014-09-30 770.82 352.40 11.38
2014-06-30 709.16 195.06 3.66
2014-03-31 701.78 235.66 9.35
2013-12-31 664.33 175.55 12.02
2013-09-30 542.75 225.33 8.91
2013-06-30 516.61 156.64 5.59
2013-03-31 499.96 177.21 5.39
2012-12-31 478.40 131.08 7.51
2012-09-30 465.38 96.42 9.27
2012-06-30 370.08 142.40 3.91
  • Secure Energy Services's level of debt (50.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (26.5% vs 50.9% today).
  • Debt is well covered by operating cash flow (43.4%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.3x coverage).
X
Financial health checks
We assess Secure Energy Services's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Secure Energy Services has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Secure Energy Services's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.23%
Current annual income from Secure Energy Services dividends. Estimated to be 3.23% next year.
If you bought CA$2,000 of Secure Energy Services shares you are expected to receive CA$65 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Secure Energy Services's pays a higher dividend yield than the bottom 25% of dividend payers in Canada (2.09%).
  • Secure Energy Services's dividend is below the markets top 25% of dividend payers in Canada (5.61%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
TSX:SES Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 8 Analyst Estimates (S&P Global) See Below
Canada Energy Services Industry Average Dividend Yield Market Cap Weighted Average of 13 Stocks 3.7%
Canada Market Average Dividend Yield Market Cap Weighted Average of 330 Stocks 3.5%
Canada Minimum Threshold Dividend Yield 10th Percentile 1.2%
Canada Bottom 25% Dividend Yield 25th Percentile 2.1%
Canada Top 25% Dividend Yield 75th Percentile 5.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

TSX:SES Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.27 7.00
2019-12-31 0.27 8.00
TSX:SES Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2019-03-15 0.270 3.199
2019-02-15 0.270 3.189
2019-01-15 0.270 3.376
2018-12-17 0.270 3.803
2018-11-15 0.270 3.620
2018-10-15 0.270 3.273
2018-09-17 0.270 3.226
2018-08-15 0.270 3.288
2018-07-16 0.270 3.363
2018-06-15 0.270 3.704
2018-05-15 0.270 3.506
2018-04-16 0.270 3.336
2018-03-15 0.270 3.533
2018-02-15 0.270 3.301
2018-01-15 0.270 3.080
2017-12-15 0.270 3.065
2017-11-15 0.255 3.285
2017-10-16 0.255 3.095
2017-09-15 0.255 3.028
2017-08-15 0.255 3.386
2017-07-17 0.255 2.971
2017-06-15 0.255 2.987
2017-05-15 0.255 2.716
2017-04-17 0.240 2.575
2017-03-15 0.240 2.444
2017-02-15 0.240 2.296
2017-01-16 0.240 2.173
2016-12-15 0.240 2.126
2016-11-15 0.240 2.514
2016-10-17 0.240 2.786
2016-09-15 0.240 2.661
2016-08-15 0.240 2.662
2016-07-15 0.240 2.816
2016-05-16 0.240 2.679
2016-04-15 0.240 2.742
2016-03-15 0.240 2.821
2016-02-16 0.240 3.143
2016-01-15 0.240 3.685
2015-12-15 0.240 3.304
2015-11-16 0.240 3.186
2015-10-15 0.240 2.785
2015-09-15 0.240 2.458
2015-08-17 0.240 2.521
2015-07-15 0.240 2.223
2015-06-15 0.240 1.852
2015-05-15 0.240 1.649
2015-04-15 0.240 1.473
2015-03-16 0.240 1.510
2015-02-17 0.240 1.532
2015-01-15 0.240 1.532
2014-12-15 0.240 1.557
2014-11-17 0.200 1.212
2014-10-15 0.200 0.999
2014-09-15 0.200 0.874
2014-08-18 0.200 0.765
2014-07-16 0.200 0.851
2014-06-16 0.200 0.861
2014-05-15 0.200 0.994
2014-04-16 0.200 1.018
2014-03-17 0.200 1.056
2014-02-18 0.150 0.844
2014-01-15 0.150 0.905
2013-12-16 0.150 0.867
2013-11-18 0.150 0.912
2013-10-15 0.150 1.023
2013-09-12 0.150 1.100
2013-08-15 0.150 1.113
2013-07-16 0.150 1.058
2013-06-13 0.150 1.084
2013-05-15 0.150 1.103
2013-03-05 0.150 1.224
2013-03-04 0.150 1.415

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Secure Energy Services has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Secure Energy Services only paid a dividend in the past 6 years.
Current Payout to shareholders
What portion of Secure Energy Services's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.2x coverage).
X
Income/ dividend checks
We assess Secure Energy Services's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Secure Energy Services afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Secure Energy Services has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Secure Energy Services's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Rene Amirault
COMPENSATION CA$2,552,840
AGE 57
TENURE AS CEO 12.1 years
CEO Bio

Mr. Rene E. Amirault, CGA, has been the President and Chief Executive Officer at Secure Energy Services Inc. (formerly Secure Energy Services Ltd.) since March 2007. Mr. Amirault served as the Chief Executive Officer of Arrowhead Water Products Ltd until February 15, 2007. He held various roles at Canadian Crude Separators Inc. and CCS Income Trust from August 1994 to January 2006, including Vice President roles in Sales and Marketing, Business Development and Corporate Development. He served as Vice President of Corporate Development of Canadian Crude Separators Inc., until January 26, 2006. He served as a Vice President of Corporate Development of Canadian Crude Separators Inc. and Tervita Corporation until January 26, 2006. Mr. Amirault served as a Vice President of Corporate Development at CCS Corporation (formerly CCS Income Trust) from September 2001 to January 26, 2006. He has over 25 years experience in the energy industry. He held various positions with Imperial Oil Ltd. from 1981 to 1994 including marketing, project management and finance and accounting capacities. From January 2006 to March 2007, he was an Independent Businessman. He has been the Chairman of Secure Energy Services Inc. since June 1, 2007. He has been an Independent Director of Crescent Point Energy Corp. since April 2014 and Secure Energy Services Ltd. since June 1, 2007. He served as a Director of Arrowhead Water Products Ltd., from February 2004 to April 8, 2008 and Petrowest Energy Services General Partner Ltd. from July 6, 2006 to June 30, 2010. He served as a Director of Petrowest Energy Services Trust, an Administrator of Petrowest Energy Services Trust from July 6, 2006 to June 30, 2010. Mr. Amirault received a Certified General Accountant designation in June 1985.

CEO Compensation
  • Rene's compensation has been consistent with company performance over the past year.
  • Rene's remuneration is higher than average for companies of similar size in Canada.
Management Team Tenure

Average tenure and age of the Secure Energy Services management team in years:

5
Average Tenure
49
Average Age
  • The average tenure for the Secure Energy Services management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Rene Amirault

TITLE
Chairman
COMPENSATION
CA$3M
AGE
57
TENURE
12.1 yrs

Chad Magus

TITLE
Executive VP & CFO
COMPENSATION
CA$1M
TENURE
1.6 yrs

Allen Gransch

TITLE
Executive Vice President of Corporate Development
COMPENSATION
CA$1M
TENURE
1.6 yrs

Corey Higham

TITLE
Executive Vice President of Processing
COMPENSATION
CA$1M
TENURE
5 yrs

Dave Engel

TITLE
Executive Vice President of Technical Services
COMPENSATION
CA$2M
TENURE
1.6 yrs

Brian K. McGurk

TITLE
Executive Vice President of Human Resources & Strategy
COMPENSATION
CA$1M
TENURE
6.3 yrs

George Wadsworth

TITLE
Executive Vice President of Drilling & Production Services - Technical Solutions Division
COMPENSATION
CA$1M
AGE
46
TENURE
6.3 yrs

David Mattinson

TITLE
Executive Vice President of OnSite Services - Environmental Solutions Division
COMPENSATION
CA$1M
TENURE
6 yrs

Mike Mikuska

TITLE
Executive Vice President of Commercial & Transportation
AGE
49
TENURE
1.6 yrs

Brad Markel

TITLE
Corporate Secretary
Board of Directors Tenure

Average tenure and age of the Secure Energy Services board of directors in years:

9.3
Average Tenure
57
Average Age
  • The tenure for the Secure Energy Services board of directors is about average.
Board of Directors

Murray Cobbe

TITLE
Lead Independent Director
COMPENSATION
CA$255K
AGE
69
TENURE
9.3 yrs

Rene Amirault

TITLE
Chairman
COMPENSATION
CA$3M
AGE
57
TENURE
11.8 yrs

Brad Munro

TITLE
Independent Director
COMPENSATION
CA$244K
AGE
58
TENURE
10 yrs

Kevin Nugent

TITLE
Independent Director
COMPENSATION
CA$247K
AGE
52
TENURE
11.6 yrs

Dan Steinke

TITLE
Director
COMPENSATION
CA$2M
AGE
53
TENURE
3.9 yrs

Dave Johnson

TITLE
Independent Director
COMPENSATION
CA$244K
AGE
67
TENURE
11.8 yrs

Shaun Paterson

TITLE
Independent Director
COMPENSATION
CA$229K
AGE
64
TENURE
5.9 yrs

Michele Harradence

TITLE
Director
COMPENSATION
CA$92K
AGE
49
TENURE
0.7 yrs

Rick Wise

TITLE
Director
AGE
57
TENURE
0.2 yrs
Who owns this company?
Recent Insider Trading
  • Secure Energy Services insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (CA$) Value (CA$)
22. Mar 19 Sell George Wadsworth Individual 22. Mar 19 22. Mar 19 -16,000 CA$8.64 CA$-138,240
06. Mar 19 Sell George Wadsworth Individual 04. Mar 19 04. Mar 19 -10,000 CA$8.49 CA$-84,860
05. Mar 19 Sell George Wadsworth Individual 01. Mar 19 01. Mar 19 -3,066 CA$8.58 CA$-26,306
05. Mar 19 Sell Daniel Steinke Individual 01. Mar 19 01. Mar 19 -25,103 CA$8.55 CA$-214,631
04. Mar 19 Buy Richard Wise Individual 01. Mar 19 04. Mar 19 3,500 CA$8.49 CA$29,613
11. Nov 18 Sell Corey Higham Individual 07. Nov 18 07. Nov 18 -27 CA$8.57 CA$-231
05. Sep 18 Buy Shaun Paterson Individual 05. Sep 18 05. Sep 18 500 CA$7.91 CA$3,955
03. May 18 Buy Allen Gransch Individual 03. May 18 03. May 18 1,300 CA$8.07 CA$10,482
X
Management checks
We assess Secure Energy Services's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Secure Energy Services has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Is Secure Energy Services Inc.'s (TSE:SES) 2.4% ROE Worse Than Average?

To keep the lesson grounded in practicality, we'll use ROE to better understand Secure Energy Services Inc. … Over the last twelve months Secure Energy Services has recorded a ROE of 2.4%. … See our latest analysis for Secure Energy Services?

Simply Wall St -

Secure Energy Services Inc. (TSE:SES): Time For A Financial Health Check

While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … Evaluating financial health as part of your investment thesis is. … We'll look at some basic checks that can form a snapshot the company’s financial strength.

Simply Wall St -

Investors Who Bought Secure Energy Services (TSE:SES) Shares Five Years Ago Are Now Down 56%

By comparing earnings per share (EPS) and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … During five years of share price growth, Secure Energy Services moved from a loss to profitability. … A more detailed examination of the revenue and earnings may or may not explain why the share price languishes; there could be an opportunity.

Simply Wall St -

Is Secure Energy Services Inc. (TSE:SES) A Volatile Stock?

(TSE:SES), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … While we should keep in mind that Warren Buffett has cautioned that 'Volatility is far from synonymous with risk', beta is still a useful factor to consider.

Simply Wall St -

Does Secure Energy Services Inc.'s (TSE:SES) CEO Pay Matter?

Rene Amirault has been the CEO of Secure Energy Services Inc. … This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Rene Amirault's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Is Secure Energy Services Inc. (TSE:SES) A Smart Pick For Income Investors?

Historically, Secure Energy Services Inc. … Let's take a look at Secure Energy Services in more detail. … View our latest analysis for Secure Energy Services?

Simply Wall St -

Have Insiders Been Buying Secure Energy Services Inc (TSE:SES) Shares?

So we'll take a look at whether insiders have been buying or selling shares in Secure Energy Services Inc (TSE:SES). … The Last 12 Months Of Insider Transactions At Secure Energy Services. … In total, Secure Energy Services insiders bought more than they sold over the last year

Simply Wall St -

Does Secure Energy Services Inc (TSE:SES) Have A High Beta?

Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … While we should keep in mind that Warren Buffett has cautioned that 'Volatility is far from synonymous with risk', beta is still a useful factor to consider.

Simply Wall St -

Is Secure Energy Services Inc's (TSE:SES) CEO Salary Justified?

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … At the time of writing our data says that Secure Energy Services Inc has a market cap of CA$1.3b, and is paying total annual CEO compensation of CA$3m. … Thus we can conclude that Rene Amirault receives more in total compensation than the median of a group of companies in the same market, and of similar size to Secure Energy Services Inc

Simply Wall St -

Who Really Owns Secure Energy Services Inc (TSE:SES)?

The big shareholder groups in Secure Energy Services Inc (TSE:SES) have power over the company. … Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … With a market capitalization of CA$1.37b, Secure Energy Services is a decent size, so it is probably on the radar of institutional investors.

Simply Wall St -

Company Info

Description

Secure Energy Services Inc., an energy services company, provides specialized solutions to upstream oil and natural gas companies operating primarily in the Western Canadian Sedimentary Basin and North Dakota. The company’s Midstream Infrastructure division 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, full service rail facilities, crude oil pipelines, crude oil terminalling facilities, water disposal facilities, and landfills. Its Environmental Solutions division offers pipeline integrity projects; demolition, decommissioning, reclamation, and remediation of former well sites, facilities, and commercial and industrial properties; environmental construction projects; onsite integrated fluid solutions for water management, recycling, pumping, and storage; naturally occurring radioactive material management; waste container services; and emergency response services. The Company’s Technical Solutions division provides product solutions for drilling, completion, and production operations for oil and gas producers; and design and implementation of drilling fluid systems for producers drilling for oil, bitumen and natural gas. This division also offers equipment and chemical solutions for chemicals and enhanced oil recovery line. Secure Energy Services Inc. is headquartered in Calgary, Canada.

Details
Name: Secure Energy Services Inc.
SES
Exchange: TSX
Founded:
CA$1,343,306,288
160,490,596
Website: http://www.secure-energy.com
Address: Secure Energy Services Inc.
Bow Valley Square 2,
Suite 3600,
Calgary,
Alberta, T2P 2V7,
Canada
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
TSX SES Common Shares The Toronto Stock Exchange CA CAD 30. Mar 2010
OTCPK SECY.F Common Shares Pink Sheets LLC US USD 30. Mar 2010
DB SEP Common Shares Deutsche Boerse AG DE EUR 30. Mar 2010
Number of employees
Current staff
Staff numbers
1,400
Secure Energy Services employees.
Industry
Oil and Gas Equipment and Services
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/17 00:29
End of day share price update: 2019/04/16 00:00
Last estimates confirmation: 2019/04/16
Last earnings filing: 2019/02/26
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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 here.