SECURE Waste Infrastructure Corp. (TSX:SES)

TSX:SES Financials Overview

Financials in millions CAD. Fiscal year is January - December.

Revenue & Profits

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Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2026	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue Revenue Growth	3,278	10,672	8,244	8,002	3,766	1,824
Revenue Growth	-68.31%	29.45%	3.02%	112.48%	106.47%	-40.26%
Gross Profit Gross Profit Growth	339	422	512	493	-60	2
Operating Income Operating Income Growth	204	268	353	324	-210	-81
Net Income Net Income Growth	79	582	195	184	-204	-86
Earnings Per Share EPS Growth	0.60	3.23	0.86	0.59	-1.10	-0.69
EPS Growth	-38.14%	275.58%	45.76%	-	-	-

Revenue by Segment

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022
Waste Management Waste Management Growth	1,308	1,252	1,185	1,047	953
Energy Infrastructure Energy Infrastructure Growth	235	220	236	6,798	6,654
Total Total Growth	1,543	1,472	1,421	8,244	8,002

Cash & Debt

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Investments Cash & Investments Growth	39	22	26	12	12	10
Total Debt Total Debt Growth	1,010	1,020	454	1,102	1,031	1,316
Net Cash (Debt) Net Cash Growth	-971	-998	-428	-1,090	-1,019	-1,306
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share Net Cash Per Share Growth	-7.37	-4.59	-1.65	-3.64	-3.25	-5.58

Cash Flow & CapEx

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Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Operating Cash Flow Operating Cash Flow Growth	310	497	430	411	74	149
Capital Expenditures CapEx Growth	-199	-134	-203	-96	-43	-71
Free Cash Flow Free Cash Flow Growth	111	363	227	315	31	78
Free Cash Flow Growth	-56.47%	59.91%	-27.94%	916.13%	-60.26%	2.98%

Margins

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Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2026	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Gross Margin	10.34%	3.95%	6.21%	6.16%	-1.59%	0.11%
Operating Margin	6.22%	2.51%	4.28%	4.05%	-5.58%	-4.44%
Pretax Margin	3.23%	6.68%	3.12%	3.15%	-7.25%	-5.98%
Profit Margin	2.41%	5.45%	2.37%	2.30%	-5.42%	-4.71%
FCF Margin	0.00%	3.40%	2.75%	3.94%	0.82%	4.28%

Dividends

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Fiscal Year	Current	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Aug 4, 2026	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Dividend Per Share Dividend Per Share Growth	0.420	0.400	0.400	0.122	0.030	0.110
Dividend Per Share Growth	2.50%	0%	226.53%	308.33%	-72.73%	-59.26%
Dividend Yield	1.70%	2.51%	4.19%	1.75%	0.57%	4.36%

Valuation

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Aug 4, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
PE Ratio	41.07	31.40	5.03	10.97	11.92	-
Forward PE	23.98	19.67	13.32	16.81	9.83	23.91
P/FCF Ratio	28.94	-	10.49	11.95	6.90	52.29
PS Ratio	3.41	-	0.36	0.33	0.27	0.43

Data Sources: Fiscal.ai and S&P Global Market Intelligence Last updated: Jul 29, 2026

Financial data is provided by Fiscal.ai and updates within minutes after each earnings release, which is every three months for this company. Revenue segment data is provided by S&P Global Market Intelligence.

Update frequency:

Quarterly

Last checked:

Aug 4, 2026

Data Sources Report a data error