SES FINANCIAL STATEMENTS

Secure Energy Services Inc. — balance sheet, income statement and cash flow trends

SESSecure Energy Services Inc.

🇨🇦 Canada · TO · Industrials · Waste Management

Value itDuel

Income Statement

Quarterly progression — trailing-twelve-month values
RevenueNet Income
05 B10 B202120222023202420252026

Profit Funnel

Q1 2026 · TTM
Revenue-844 M C$Gross Profit401 M C$ · -48%Operating Income270 M C$ · -32%Pre-tax Income160 M C$ · -19%Net Income120 M C$ · -14%

Percentages are relative to revenue.

Key Figures

YoY change
Revenue-844 M C$-108.0%
Gross Profit401 M C$+0.8%
Operating Income270 M C$+4.2%
EBITDA477 M C$+11.7%
Net Income120 M C$-39.4%

Peer Comparison· Waste Management

CompanyRev. GrowthGross MarginEBITDA MarginNet Margin
SES—-47.5%-56.5%-14.2%
CWY6.7%20.1%16.1%3.0%
CWST14.9%21.2%21.6%0.4%
CLH1.9%28.0%19.2%6.5%
NVRI-2.0%18.4%6.8%-7.5%
VIE-0.7%17.6%15.9%2.7%
Industry median3.2%24.6%19.2%3.0%

Balance Sheet

Quarterly period-end values
Total AssetsTotal LiabilitiesEquity
01 B2 B3 B202120222023202420252026

Capital Structure

Q1 2026
Total Assets2.9 B
  • Equity777 M C$27%
  • Current Liabilities721 M C$25%
  • Long-term Liabilities1.4 B C$48%

Key Figures

YoY change
Total Assets2.9 B C$+18.9%
Total Liabilities2.1 B C$+45.5%
Total Equity777 M C$-20.2%
Cash & ST Investments90 M C$+350.0%
Total Debt1.2 B C$+65.4%
Net Debt1.1 B C$+57.2%

Peer Comparison· Waste Management

CompanyCurrent RatioDebt/EquityNetDebt/EBITDAEquity/Assets
SES1.37151.4%2.2827.1%
CWY0.9396.5%4.2842.5%
CWST1.3878.9%2.7348.0%
CLH2.34109.6%2.0436.7%
NVRI1.54-266.2%10.78-39.7%
VIE0.86474.8%3.599.9%
Industry median1.38109.6%3.0734.8%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values
Operating Cash FlowCapital ExpendituresFree Cash Flow
0200 M400 M600 M202120222023202420252026

Cash Flow Bridge

Q1 2026 · TTM
0100 M185 M C$Operating-228 M C$Investing84 M C$Financing41 M C$Net Change

Key Figures

YoY change
Operating Cash Flow185 M C$-68.6%
Capital Expenditures227 M C$+46.5%
Free Cash Flow-42 M C$-109.7%
Dividends Paid-89 M C$-189.9%

Peer Comparison· Waste Management

CompanyCF MarginFCF MarginCapEx RatioCF/Net Income
SES-21.9%5.0%-26.9%154.2%
CWY11.7%4.4%7.2%393.6%
CWST18.2%5.5%12.8%4,787.3%
CLH14.4%7.7%6.7%220.3%
NVRI3.6%-2.6%6.2%-48.4%
VIE10.2%3.8%6.9%371.2%
Industry median16.3%5.2%7.0%228.0%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 3, 26. This content is for informational purposes only and is not investment advice.