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SECURE Waste Infrastructure ( (TSE:SES) ) has provided an update.
SECURE Waste Infrastructure reported full-year 2025 adjusted EBITDA of $501 million on revenue of $1.47 billion, highlighting the resilience of its infrastructure-backed business amid softer commodity prices and metals recycling headwinds. The company generated strong free cash flow, invested $138 million in organic growth projects including new produced water disposal facilities and an industrial waste plant reopening, and ended the year with a total debt to adjusted EBITDA ratio of 2.1x, preserving balance-sheet flexibility.
Management issued 2026 adjusted EBITDA guidance of $520 million to $550 million and announced a 5% increase to its quarterly dividend to $0.105 per share, reinforcing confidence in cash flow durability and shareholder returns. In 2025 SECURE returned $373 million to investors via dividends and repurchasing 8% of its outstanding shares, while advancing long-cycle, contracted infrastructure projects that are expected to support future earnings growth and strengthen its competitive position in waste and energy infrastructure services.
The most recent analyst rating on (TSE:SES) stock is a Buy with a C$23.50 price target. To see the full list of analyst forecasts on SECURE Waste Infrastructure stock, see the TSE:SES Stock Forecast page.
Spark’s Take on TSE:SES Stock
According to Spark, TipRanks’ AI Analyst, TSE:SES is a Neutral.
The overall stock score of 61 reflects mixed financial performance and weak technical indicators, partially offset by strategic adaptability and stable cash flows highlighted in the earnings call. The stock’s valuation suggests it may be overvalued, adding to the cautious outlook.
To see Spark’s full report on TSE:SES stock, click here.
More about SECURE Waste Infrastructure
SECURE Waste Infrastructure Corp., listed on the TSX under the symbol SES, is a leading waste management and energy infrastructure company focused on handling produced water, industrial waste and metals recycling across North American energy-producing regions. Its infrastructure-backed network provides contracted disposal, processing and logistics services that benefit from recurring production and industrial activity, positioning the company to capture long-cycle growth despite commodity price volatility.
Average Trading Volume: 458,758
Technical Sentiment Signal: Buy
Current Market Cap: C$4.13B
For a thorough assessment of SES stock, go to TipRanks’ Stock Analysis page.