Source Energy Services Ltd.

TSX:SHLE Stock Report

Market Cap: CA$156.9m

Source Energy Services Valuation

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

Valuation Score

5/6

Valuation Score 5/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: SHLE (CA$12) is trading below our estimate of future cash flow value (CA$31.36)

Significantly Below Future Cash Flow Value: SHLE is trading below future cash flow value by more than 20%.

Key Valuation Metric

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

Key metric: As SHLE is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for SHLE. This is calculated by dividing SHLE's market cap by their current revenue.
What is SHLE's PS Ratio?
PS Ratio0.3x
SalesCA$587.19m
Market CapCA$156.93m

Price to Sales Ratio vs Peers

How does SHLE's PS Ratio compare to its peers?

The above table shows the PS ratio for SHLE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average2.8x
PSD Pulse Seismic
9.5xn/aCA$146.6m
FLNT Flint
0.2xn/aCA$161.7m
MCB McCoy Global
0.9x34.18%CA$62.8m
NOA North American Construction Group
0.4x10.75%CA$504.6m
SHLE Source Energy Services
0.3x9.23%CA$156.9m

Price-To-Sales vs Peers: SHLE is good value based on its Price-To-Sales Ratio (0.3x) compared to the peer average (2.8x).

Historical Price to Sales Ratio

Historical Price to Sales Ratio compares a stock's price to its sales over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Sales Ratio vs Industry

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

2 CompaniesPrice / SalesEstimated GrowthMarket Cap
WEII.H Wolverine Energy and Infrastructure
0.08xn/aUS$3.10m
DVG Divergent Energy Services
0.01xn/aUS$134.21k
No more companies available in this PS range
SHLE 0.3xIndustry Avg. 0.9xNo. of Companies4PS00.40.81.21.62+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: SHLE is good value based on its Price-To-Sales Ratio (0.3x) compared to the Canadian Energy Services industry average (0.9x).

Price to Sales Ratio vs Fair Ratio

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

SHLE PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.3x
Fair PS Ratio0.6x

Price-To-Sales vs Fair Ratio: SHLE is good value based on its Price-To-Sales Ratio (0.3x) compared to the estimated Fair Price-To-Sales Ratio (0.6x).

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 SHLE forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentCA$12.00
CA$15.25
+27.08%
14.75%CA$17.50CA$13.00n/a2
Aug ’27CA$11.55
CA$15.25
+32.03%
14.75%CA$17.50CA$13.00n/a2
Jul ’27CA$13.93
CA$17.25
+23.83%
13.04%CA$19.50CA$15.00n/a2
Jun ’27CA$13.63
CA$17.25
+26.56%
13.04%CA$19.50CA$15.00n/a2
May ’27CA$17.61
CA$18.25
+3.63%
6.85%CA$19.50CA$17.00n/a2
Apr ’27CA$14.45
CA$19.25
+33.22%
1.30%CA$19.50CA$19.00n/a2
Mar ’27CA$16.65
CA$19.25
+15.62%
1.30%CA$19.50CA$19.00n/a2
Feb ’27CA$17.30
CA$17.75
+2.60%
9.86%CA$19.50CA$16.00n/a2
Jan ’27CA$15.19
CA$17.75
+16.85%
9.86%CA$19.50CA$16.00n/a2
Dec ’26CA$12.60
CA$16.75
+32.94%
16.42%CA$19.50CA$14.00n/a2
Nov ’26CA$12.31
CA$16.75
+36.07%
16.42%CA$19.50CA$14.00n/a2
Oct ’26CA$13.50
CA$17.50
+29.63%
14.29%CA$20.00CA$15.00n/a2
Sep ’26CA$14.22
CA$17.50
+23.07%
14.29%CA$20.00CA$15.00n/a2
Aug ’26CA$13.55
CA$17.50
+29.15%
14.29%CA$20.00CA$15.00CA$11.552
Jul ’26CA$13.19
CA$16.50
+25.09%
21.21%CA$20.00CA$13.00CA$13.932
Jun ’26CA$11.38
CA$16.50
+44.99%
21.21%CA$20.00CA$13.00CA$13.632
May ’26CA$9.16
CA$15.50
+69.21%
29.03%CA$20.00CA$11.00CA$17.612
Apr ’26CA$9.98
CA$16.00
+60.32%
25.00%CA$20.00CA$12.00CA$14.452
Mar ’26CA$11.71
CA$18.00
+53.71%
11.11%CA$20.00CA$16.00CA$16.652
Feb ’26CA$13.55
CA$18.00
+32.84%
11.11%CA$20.00CA$16.00CA$17.302
Jan ’26CA$16.24
CA$18.00
+10.84%
11.11%CA$20.00CA$16.00CA$15.192
Dec ’25CA$16.55
CA$18.00
+8.76%
11.11%CA$20.00CA$16.00CA$12.602
Nov ’25CA$13.35
CA$15.50
+16.10%
9.68%CA$17.00CA$14.00CA$12.312
Oct ’25CA$11.91
CA$18.50
+55.33%
8.11%CA$20.00CA$17.00CA$13.502
Sep ’25CA$13.25
CA$18.50
+39.62%
8.11%CA$20.00CA$17.00CA$14.222
Aug ’25CA$14.43
CA$17.00
+17.81%
5.88%CA$18.00CA$16.00CA$13.552
CA$15.25
Fair Value
21.3% undervalued intrinsic discount
2
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/08/20 23:23
End of Day Share Price 2026/08/20 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
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* 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 world class team 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

Source Energy Services Ltd. is covered by 13 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Nick CorcoranAcumen Capital Finance Partners Limited
Tim MonachelloATB Cormark
Brent WatsonATB Cormark Historical (Cormark Securities)