Over the past five years, SECURE has transitioned from a full-service energy services company to a specialized waste management and energy infrastructure provider, with a new corporate name better capturing its core business activities. The company completed a C$1.15B asset sale in 2024, wiping out debt and boosting cash flow. Its solutions are designed to help reduce costs, lower emissions, increase safety, manage water, recycle by-products and protect the environment.
Cyborg Score Rationale
In 2024, revenue was CAD 10.67 billion with a 29.45% increase, and earnings reached CAD 582 million with a 198.46% increase. The company has effectively deleveraged through asset sales and maintains strong operational momentum. However, energy infrastructure exposure and commodity price sensitivity present ongoing risks.
Top Insights
Company rebranded from Secure Energy Services Inc. to SECURE Waste Infrastructure Corp., with the name change formally adopted on January 1, 2025.
Market capitalization as of early March 2026 is approximately CAD 4.21 billion.
Stock is trading at 68.1% below analyst estimates of fair value.
SES stock has shown a 33.26% increase over the past year.
Named Competitors
Waste Management Services — Integrated waste management across Australasia
Oilfield Services — Propane and specialty chemical distribution in North America
Environmental Solutions — Engineering and environmental consulting services
Recent Developments
(Jan 2025) Official name change from Secure Energy Services Inc. to SECURE Waste Infrastructure Corp. completed
(June 2024) Completed C$1.15 billion asset sale, eliminating debt and improving cash flow
(April 2024) Entered into share repurchase agreement with TPG Angelo Gordon, reducing their ownership stake
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