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Secure Energy Services

DB:SEP
Snowflake Description

Fair value with questionable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SEP
DB
CA$179M
Market Cap
  1. Home
  2. DE
  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 Western Canadian Sedimentary Basin and the United States. The last earnings update was 43 days ago. More info.


Add to Portfolio Compare Print
  • Secure Energy Services has significant price volatility in the past 3 months.
SEP Share Price and Events
7 Day Returns
13.5%
DB:SEP
8.1%
Europe Energy Services
-0.6%
DE Market
1 Year Returns
-87.2%
DB:SEP
-57.2%
Europe Energy Services
-20.9%
DE Market
SEP Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Secure Energy Services (SEP) 13.5% -65% -78.2% -87.2% -90.2% -94.1%
Europe Energy Services 8.1% -27.8% -50.1% -57.2% -65.6% -87.6%
DE Market -0.6% -16.6% -26% -20.9% -25.8% -31.8%
1 Year Return vs Industry and Market
  • SEP underperformed the Energy Services industry which returned -57.2% over the past year.
  • SEP underperformed the Market in Germany which returned -20.9% over the past year.
Price Volatility
SEP
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.

DB:SEP 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 10.5%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

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 DB:SEP
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Energy Services Unlevered Beta Simply Wall St/ S&P Global 0.91
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.912 (1 + (1- 26.5%) (280.09%))
2.198
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (2 * 5.44%)
10.49%

Discounted Cash Flow Calculation for DB:SEP 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.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:SEP DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CAD, Millions) Source Present Value
Discounted (@ 10.49%)
2020 74.01 Analyst x7 66.99
2021 98.92 Analyst x6 81.03
2022 117.16 Est @ 18.44% 86.86
2023 132.15 Est @ 12.79% 88.67
2024 143.82 Est @ 8.84% 87.34
2025 152.55 Est @ 6.07% 83.85
2026 158.86 Est @ 4.13% 79.02
2027 163.26 Est @ 2.78% 73.50
2028 166.24 Est @ 1.83% 67.74
2029 168.17 Est @ 1.16% 62.02
Present value of next 10 years cash flows CA$777.00
DB:SEP DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CA$168.17 × (1 + -0.39%) ÷ (10.49% – -0.39%)
CA$1,539.68
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CA$1,539.68 ÷ (1 + 10.49%)10
CA$567.81
DB:SEP Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CA$777.00 + CA$567.81
CA$1,344.81
Equity Value per Share
(CAD)
= Total value / Shares Outstanding
= CA$1,344.81 / 157.45
CA$8.54
DB:SEP Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:SEP represents 0.62719x of TSX:SES
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.62719x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (CAD) x Listing Adjustment Factor
= CA$ 8.54 x 0.62719
€5.36
Value per share (EUR) From above. €5.36
Current discount Discount to share price of €0.72
= -1 x (€0.72 - €5.36) / €5.36
86.7%

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
>50%
Share price is €0.72 vs Future cash flow value of €5.36
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, and 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
DB:SEP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in CAD CA$0.01
TSX:SES Share Price ** TSX (2020-04-06) in CAD CA$1.14
Europe Energy Services Industry PE Ratio Median Figure of 31 Publicly-Listed Energy Services Companies 8.85x
Germany Market PE Ratio Median Figure of 401 Publicly-Listed Companies 16.45x

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

** Primary Listing of Secure Energy Services.

DB:SEP PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 1.14 ÷ 0.01

113.29x

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 Europe Energy Services industry average.
  • Secure Energy Services is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Secure Energy Services's expected growth come at a high price?
Raw Data
DB:SEP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 113.29x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts
9.6%per year
Europe Energy Services Industry PEG Ratio Median Figure of 20 Publicly-Listed Energy Services Companies 0.51x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.16x

*Line of best fit is calculated by linear regression .

DB:SEP PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 113.29x ÷ 9.6%

11.83x

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
DB:SEP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in CAD CA$4.98
TSX:SES Share Price * TSX (2020-04-06) in CAD CA$1.14
Europe Energy Services Industry PB Ratio Median Figure of 70 Publicly-Listed Energy Services Companies 0.4x
Germany Market PB Ratio Median Figure of 572 Publicly-Listed Companies 1.44x
DB:SEP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 1.14 ÷ 4.98

0.23x

* 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 good value based on assets compared to the Europe 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 3/6, 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
9.6%
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 -0.4%.
Growth vs Market Checks
  • Secure Energy Services's earnings growth is positive but not above the Germany market average.
  • Secure Energy Services's revenues are expected to decrease over the next 1-3 years, this is below the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:SEP Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:SEP Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 8 Analysts 9.6%
DB:SEP Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 8 Analysts -1.6%
Europe Energy Services Industry Earnings Growth Rate Market Cap Weighted Average 21.1%
Europe Energy Services Industry Revenue Growth Rate Market Cap Weighted Average -0.4%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4%

*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
DB:SEP 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.
DB:SEP Future Estimates Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 3,054 21 1
2021-12-31 2,926 134 -13 7
2020-12-31 2,717 126 -21 8
2020-04-07
DB:SEP Past Financials Data
Date (Data in CAD Millions) Revenue Cash Flow Net Income *
2019-12-31 3,072 197 2
2019-09-30 2,997 207 13
2019-06-30 3,094 190 20
2019-03-31 3,021 211 15
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

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Secure Energy Services's earnings are expected to grow by 9.6% yearly, however this is not considered high growth (20% yearly).
  • Secure Energy Services's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
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
DB:SEP 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.

DB:SEP Future Estimates Data
Date (Data in CAD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 0.13 0.13 0.13 1.00
2021-12-31 -0.08 0.04 -0.17 6.00
2020-12-31 -0.09 0.03 -0.28 8.00
2020-04-07
DB:SEP Past Financials Data
Date (Data in CAD Millions) EPS *
2019-12-31 0.01
2019-09-30 0.08
2019-06-30 0.13
2019-03-31 0.09
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

*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 Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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 1/6, 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 has delivered over 20% year on year earnings growth in the past 5 years.
  • Secure Energy Services's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Secure Energy Services's 1-year earnings growth is negative, it can't be compared to the Europe 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.

DB:SEP Past Revenue, Cash Flow and Net Income Data
Date (Data in CAD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 3,072.48 1.60 88.88
2019-09-30 2,997.44 12.89 90.10
2019-06-30 3,094.45 20.33 93.32
2019-03-31 3,020.89 15.11 96.20
2018-12-31 2,937.45 19.93 94.86
2018-09-30 2,933.96 -17.95 87.12
2018-06-30 2,718.66 -24.94 85.32
2018-03-31 2,583.06 -31.57 84.98
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

*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 Europe 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 2/6, 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 0.7x 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.

DB:SEP Past Debt and Equity Data
Date (Data in CAD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 812.64 453.41 8.85
2019-09-30 828.23 447.42 12.43
2019-06-30 837.22 435.69 9.54
2019-03-31 836.51 404.97 16.19
2018-12-31 844.32 412.92 7.93
2018-09-30 847.69 388.31 9.57
2018-06-30 860.54 329.75 1.05
2018-03-31 878.53 342.67 3.81
2017-12-31 874.49 298.41 9.73
2017-09-30 901.93 261.01 2.94
2017-06-30 910.88 219.11 20.26
2017-03-31 930.36 187.13 5.18
2016-12-31 927.05 208.04 3.43
2016-09-30 929.56 200.95 3.09
2016-06-30 933.90 174.86 6.01
2016-03-31 948.35 117.77 7.29
2015-12-31 824.51 260.68 4.86
2015-09-30 913.47 256.59 2.67
2015-06-30 951.50 234.67 5.29
2015-03-31 968.21 246.46 4.48
2014-12-31 762.30 397.39 4.88
2014-09-30 770.82 333.94 11.38
2014-06-30 709.16 177.54 3.66
2014-03-31 701.78 219.49 9.35
2013-12-31 664.33 159.93 12.02
2013-09-30 542.75 210.49 8.91
2013-06-30 516.61 144.42 5.59
  • Secure Energy Services's level of debt (55.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (51.8% vs 55.8% today).
  • Debt is well covered by operating cash flow (43.4%, greater than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1x annual interest expense, ideally 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 2/6, 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
23.68%
Current annual income from Secure Energy Services dividends. Estimated to be 11.93% next year.
If you bought €2,000 of Secure Energy Services shares you are expected to receive €474 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 Germany (1.69%).
  • Secure Energy Services's dividend is above the markets top 25% of dividend payers in Germany (4.85%).
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
DB:SEP 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
Europe Energy Services Industry Average Dividend Yield Market Cap Weighted Average of 14 Stocks 6.8%
Germany Market Average Dividend Yield Market Cap Weighted Average of 315 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.9%

Industry and Market average data is calculated daily.

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

DB:SEP Future Dividends Estimate Data
Date (Data in CA$) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31 0.07 6.00
2020-12-31 0.18 9.00
2020-04-07
DB:SEP Past Annualized Dividends Data
Date (Data in CA$) Dividend per share (annual) Avg. Yield (%)
2020-03-16 0.270 28.116
2020-02-18 0.270 10.613
2020-01-15 0.270 5.651
2019-12-16 0.270 5.411
2019-11-15 0.270 6.247
2019-10-15 0.270 6.046
2019-09-16 0.270 5.061
2019-08-15 0.270 4.591
2019-07-15 0.270 4.020
2019-06-17 0.270 3.798
2019-05-15 0.270 3.822
2019-04-15 0.270 3.396
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 7 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 (0x coverage).
Future Payout to shareholders
  • The company is expected to pay a dividend in 3 years whilst incurring a loss, therefore the dividend is not expected to be well covered.
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 0.9%) - 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$2,804,481
AGE 58
TENURE AS CEO 13.1 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 served as an Independent Director of Crescent Point Energy Corp. since April 2014 until June 14, 2019. He has been a Director of 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, both up more than 20%.
  • Rene's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

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

2.6
Average Tenure
50
Average Age
  • The tenure for the Secure Energy Services management team is about average.
Management Team

Rene Amirault

TITLE
Chairman
COMPENSATION
CA$3M
AGE
58
TENURE
13.1 yrs

Chad Magus

TITLE
Chief Financial Officer
COMPENSATION
CA$1M
TENURE
2.6 yrs

Corey Higham

TITLE
Executive Vice President of Corporate Development
COMPENSATION
CA$2M
TENURE
0.9 yrs

Allen Gransch

TITLE
Chief Operating Officer of Midstream
COMPENSATION
CA$2M
TENURE
1 yrs

Mike Mikuska

TITLE
Executive Vice President of Commercial & Transportation
COMPENSATION
CA$2M
AGE
50
TENURE
2.6 yrs

Dave Engel

TITLE
Executive Vice President of Operations
COMPENSATION
CA$2M
TENURE
0.9 yrs

George Wadsworth

TITLE
Executive Vice President of Drilling & Production Services
COMPENSATION
CA$1M
AGE
47
TENURE
7.3 yrs

Brian K. McGurk

TITLE
Executive Vice President of Corporate Services
COMPENSATION
CA$1M
TENURE
0.9 yrs

David Mattinson

TITLE
Executive Vice President of Environmental Solutions
COMPENSATION
CA$1M
TENURE
7 yrs
Board of Directors Tenure

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

8.6
Average Tenure
58
Average Age
  • The tenure for the Secure Energy Services board of directors is about average.
Board of Directors

Rene Amirault

TITLE
Chairman
COMPENSATION
CA$3M
AGE
58
TENURE
12.8 yrs

Brad Munro

TITLE
Independent Director
COMPENSATION
CA$187K
AGE
59
TENURE
11 yrs

Kevin Nugent

TITLE
Independent Director
COMPENSATION
CA$195K
AGE
53
TENURE
12.6 yrs

Dave Johnson

TITLE
Independent Director
COMPENSATION
CA$200K
AGE
68
TENURE
12.8 yrs

Murray Cobbe

TITLE
Lead Independent Director
COMPENSATION
CA$207K
AGE
70
TENURE
10.3 yrs

Dan Steinke

TITLE
Director
COMPENSATION
CA$186K
AGE
54
TENURE
4.9 yrs

Shaun Paterson

TITLE
Independent Director
COMPENSATION
CA$179K
AGE
65
TENURE
6.9 yrs

Michele Harradence

TITLE
Independent Director
COMPENSATION
CA$172K
AGE
50
TENURE
1.7 yrs

Rick Wise

TITLE
Independent Director
COMPENSATION
CA$177K
AGE
58
TENURE
1.2 yrs

Deanna Zumwalt

TITLE
Independent Director
COMPENSATION
CA$103K
AGE
49
TENURE
1 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Secure Energy Services individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
31. Mar 20 Sell Rene Amirault Individual 27. Mar 20 27. Mar 20 -77 €0.60 €-46
20. Mar 20 Buy Michael Callihoo Individual 17. Mar 20 17. Mar 20 2,500 €0.58 €1,459
16. Mar 20 Buy Michael Callihoo Individual 12. Mar 20 12. Mar 20 2,000 €0.88 €1,763
16. Mar 20 Sell Daniel Steinke Individual 12. Mar 20 12. Mar 20 -49,133 €0.89 €-43,634
13. Mar 20 Buy David Engel Individual 13. Mar 20 13. Mar 20 16,528 €0.78 €12,827
10. Mar 20 Buy Michael Callihoo Individual 09. Mar 20 09. Mar 20 3,500 €1.31 €4,600
10. Mar 20 Buy Richard Wise Individual 09. Mar 20 09. Mar 20 7,000 €1.47 €9,760
02. Mar 20 Buy Chad Magus Individual 28. Feb 20 28. Feb 20 7,500 €2.56 €19,186
06. Mar 20 Buy Michael Callihoo Individual 06. Mar 20 06. Mar 20 1,000 €2.17 €2,170
02. Mar 20 Buy Shaun Paterson Individual 28. Feb 20 28. Feb 20 12,600 €2.63 €33,197
02. Mar 20 Buy Allen Gransch Individual 02. Mar 20 02. Mar 20 7,450 €2.72 €20,277
02. Mar 20 Buy Mike Mikuska Individual 28. Feb 20 28. Feb 20 6,300 €2.70 €17,038
05. Mar 20 Buy Michael Callihoo Individual 04. Mar 20 04. Mar 20 700 €2.55 €1,782
27. Feb 20 Buy Michael Callihoo Individual 27. Feb 20 27. Feb 20 1,000 €2.58 €2,577
27. Feb 20 Buy Rene Amirault Individual 27. Feb 20 27. Feb 20 60,000 €2.56 €153,623
07. Jan 20 Buy Michael Callihoo Individual 13. Aug 19 13. Aug 19 300 €4.33 €1,298
08. Oct 19 Sell Brian K. McGurk Individual 03. Oct 19 03. Oct 19 -7 €3.31 €-23
08. Oct 19 Buy Richard Wise Individual 04. Oct 19 04. Oct 19 15,000 €3.08 €46,147
08. Oct 19 Sell Rene Amirault Individual 03. Oct 19 03. Oct 19 -7 €3.31 €-23
16. Sep 19 Sell Brian K. McGurk Individual 12. Sep 19 13. Sep 19 -468 €4.28 €-1,997
29. Aug 19 Buy Corey Higham Individual 29. Aug 19 29. Aug 19 12,575 €3.84 €48,305
27. Aug 19 Buy Rene Amirault Individual 27. Aug 19 27. Aug 19 23,500 €3.73 €87,571
26. Aug 19 Buy Allen Gransch Individual 26. Aug 19 26. Aug 19 22,090 €3.72 €82,067
08. Jul 19 Sell George Wadsworth Individual 05. Jul 19 05. Jul 19 -7,432 €4.78 €-35,500
03. Jul 19 Buy Richard Wise Individual 03. Jul 19 03. Jul 19 3,000 €4.71 €14,121
11. Jun 19 Buy Michele Harradence Individual 10. Jun 19 10. Jun 19 14,285 €4.64 €66,307
28. May 19 Buy Richard Wise Individual 28. May 19 28. May 19 2,000 €4.77 €9,548
06. May 19 Sell David Engel Individual 02. May 19 02. May 19 -19 €4.93 €-94
02. May 19 Buy Richard Wise Individual 01. May 19 02. May 19 2,500 €5.20 €12,749
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

Company Info

Description

Secure Energy Services Inc., an energy services company, provides specialized solutions to upstream oil and natural gas companies operating primarily in Western Canadian Sedimentary Basin and the United States. 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, 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.
SEP
Exchange: DB
Founded:
CA$117,719,628
157,448,802
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
1,300
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: 2020/04/07 01:50
End of day share price update: 2020/04/06 00:00
Last estimates confirmation: 2020/03/30
Last earnings filing: 2020/02/24
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


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.