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Total Energy Services (TSE:TOT)
:TOT
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Total Energy Services
(TSX:TOT)
Rating:75Outperform
Price Target:
C$11.00
▲( 10.33% Upside)
Total Energy Services (TOT) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$378.84M
Dividend Yield3.71%
Average Volume (3M)39.60K
Price to Earnings (P/E)6.1
Beta (1Y)0.72
Revenue Growth11.02%
EPS Growth102.23%
CountryCA
Employees2,051
SectorEnergy
Sector Strength42
IndustryOil & Gas Equipment & Services
Share Statistics
EPS (TTM)0.49
Shares Outstanding37,471,700
10 Day Avg. Volume48,869
30 Day Avg. Volume39,601
Financial Highlights & Ratios
PEG Ratio0.14
Price to Book (P/B)0.64
Price to Sales (P/S)0.00
P/FCF Ratio5.81
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
Total Energy Services Business Overview & Revenue Model
Company DescriptionTotal Energy Services Inc. (TOT) is a Canadian-based energy services company that operates across various segments of the energy sector. The company provides a wide range of products and services, including contract drilling, rental and transportation services, and compression and process services. Total Energy Services is committed to delivering integrated solutions to its clients, primarily in the oil and gas industry, by leveraging its extensive expertise and comprehensive service offerings.
How the Company Makes MoneyTotal Energy Services generates revenue through multiple streams, primarily within the energy sector. The company earns income from its contract drilling services by providing drilling rigs and associated services to exploration and production companies. Additionally, it generates revenue from its rental and transportation services segment, which offers equipment rental and transportation solutions to the energy industry. Another significant revenue stream comes from its compression and process services, where the company provides natural gas compression equipment and process solutions to oil and gas producers. These diverse revenue streams are bolstered by strategic partnerships and long-term contracts with clients, which help stabilize earnings and foster growth.
Total Energy Services Financial Statement Overview
Summary
Total Energy Services demonstrates strong financial performance with consistent revenue growth, improved profit margins, and effective leverage management. Free cash flow is robust, supporting operational efficiency and future growth.Income Statement
Total Energy Services has demonstrated consistent revenue growth, moving from $365.75 million in 2020 to $906.78 million in 2024, showing strong recovery and expansion. Gross profit margin improved significantly over the years, indicating efficient cost management. The net profit margin increased from negative values in 2020 to 6.7% in 2024, reflecting improved profitability. The EBIT and EBITDA margins have also strengthened, showcasing operational efficiency.85
Very Positive
Balance Sheet
The company has improved its leverage position with a declining debt-to-equity ratio from 0.58 in 2019 to 0.22 in 2024. Stockholders' equity increased, enhancing the equity ratio to 60.9% in 2024. The return on equity has improved from negative values to 10.6% in 2024, signaling better utilization of equity. However, the total assets have fluctuated, requiring attention to asset management.78
Positive
Cash Flow
Free cash flow remained positive and grew steadily, from $23.74 million in 2019 to $74.83 million in 2024, indicating strong cash generation capability. The operating cash flow to net income ratio is healthy, showing efficient conversion of income into cash. The free cash flow to net income ratio is robust, reflecting solid cash flow management despite capital expenditures.82
Very Positive
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 906.78M | 892.40M | 759.81M | 431.58M | 365.75M | Gross Profit |
| 135.09M | 133.34M | 91.19M | 25.42M | -14.33M | EBIT |
| 79.84M | 84.62M | 49.34M | -1.46M | -36.54M | EBITDA |
| 171.84M | 168.96M | 131.32M | 85.97M | 81.05M | Net Income Common Stockholders |
| 60.80M | 41.63M | 38.01M | -428.00K | -30.45M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 38.42M | 47.94M | 34.06M | 33.37M | 23.00M | Total Assets |
| 937.71M | 861.66M | 878.62M | 813.52M | 849.58M | Total Debt |
| 126.49M | 108.76M | 134.79M | 202.65M | 247.91M | Net Debt |
| 88.07M | 60.83M | 100.73M | 169.28M | 224.91M | Total Liabilities |
| 366.67M | 330.90M | 356.59M | 320.08M | 338.59M | Stockholders Equity |
| 570.80M | 530.24M | 521.47M | 492.88M | 510.36M |
| Cash Flow | Free Cash Flow | |||
| 74.83M | 70.70M | 86.67M | 60.59M | 69.22M | Operating Cash Flow |
| 165.92M | 145.95M | 143.40M | 89.58M | 86.12M | Investing Cash Flow |
| -132.88M | -66.83M | -42.26M | -14.25M | -13.54M | Financing Cash Flow |
| -42.56M | -65.24M | -100.44M | -64.95M | -69.46M |
Total Energy Services Technical Analysis
Positive
9.97
Price Trends
9.38
Positive
10.20
Negative
10.09
Negative
Market Momentum
0.23
Negative
57.26
Neutral
67.79
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:TOT, the sentiment is Positive. The current price of 9.97 is above the 20-day moving average (MA) of 9.55, above the 50-day MA of 9.38, and below the 200-day MA of 10.09, indicating a neutral trend. The MACD of 0.23 indicates Negative momentum. The RSI at 57.26 is Neutral, neither overbought nor oversold. The STOCH value of 67.79 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:TOT.
Total Energy Services Peers Comparison
Overall Rating
UnderperformOutperform
Sector (57)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $801.95M | 8.30 | 19.44% | 4.32% | 2.15% | -5.97% | |
75 Outperform | C$378.84M | 6.07 | 11.38% | 3.71% | 11.02% | 102.23% | |
72 Outperform | C$927.87M | 12.99 | 14.68% | 4.37% | 12.43% | -44.90% | |
69 Neutral | C$1.20B | 11.66 | 7.03% | 1.31% | 1.22% | ― | |
65 Neutral | C$279.30M | 151.92 | -3.90% | ― | -5.98% | -121.37% | |
57 Neutral | $7.06B | 3.07 | -3.45% | 5.82% | 0.59% | -50.58% | |
54 Neutral | C$273.13M | 15.02 | 3.00% | ― | -5.50% | -88.55% |
* Energy Sector Average
Performance Comparison
TSE:TOT
Total Energy Services
10.11
1.29
14.63%
TSE:TCW
Trican Well Service
4.30
0.07
1.75%
TSE:PSI
Pason Systems
11.80
-3.26
-21.65%
TSE:EFX
Enerflex
9.69
2.86
41.87%
TSE:STEP
STEP Energy Services
4.03
0.01
0.25%
TSE:CFW
Calfrac Well Services
3.18
-1.19
-27.23%
Total Energy Services Earnings Call Summary
Earnings Call Date:May 08, 2025
(Q1-2025)
| % Change Since: 7.44%|
Next Earnings Date:Aug 07, 2025
Earnings Call Sentiment Neutral
The earnings call presented a mixed outlook with significant growth in Australian operations and CPS segment, offset by challenges in North American markets, especially in well servicing and gross margin declines. The company's financial position remains strong, supporting strategic investments and expansions.Q1-2025 Updates
Positive Updates
Revenue Growth
Consolidated first quarter revenue was 23% higher compared to Q1 of 2024.
EBITDA Increase
First quarter consolidated EBITDA was CAD 7.2 million, a 17% increase compared to 2024.
Australian Operations Success
Australian first quarter operating days increased by 70%, contributing to a 124% year-over-year increase in first quarter Australian revenue and a 15-fold increase in operating income.
Compression and Process Services (CPS) Performance
First quarter revenue in the CPS segment was 37% higher compared to 2024, with a 51% year-over-year increase in operating income.
CPS Sales Backlog
The CPS sales backlog at March 31, 2025, increased by CAD 76.4 million, or 40%, compared to December 31, 2024.
Negative Updates
North American Well Servicing Margins
Weaker North American margins in Well Servicing due to competitive industry conditions and cost inflation.
US Drilling and Completion Activity
Continued softer US drilling and completion activity impacted earnings negatively.
Canadian CDS Challenges
32% year-over-year decrease in first quarter Canadian CDS segment operating income due to lower rig utilization and inability to increase rates.
Gross Margin Decline
First quarter consolidated gross margin was 25%, down from 28% in the prior year quarter.
Company Guidance
During the Total Energy's First Quarter 2025 Results Conference Call, several key metrics were highlighted. For the three months ending March 31, 2025, Total Energy's consolidated revenue increased by 23% compared to Q1 2024, driven by the acquisition of Saxon, upgrades in Australian drilling rigs, and increased activity in the Compression and Process Services (CPS) segment. The first-quarter consolidated EBITDA rose by 17% to CAD 7.2 million. Geographically, 47% of revenue came from Canada, 31% from the United States, and 21% from Australia. By segment, CPS contributed 42% of the revenue, while the Contract Drilling Services (CDS) and Well Servicing segments experienced revenue increases of 12% and 34%, respectively. Despite a 25% consolidated gross margin, down from 28% the previous year, the CPS segment saw a 51% rise in operating income. The company's financial position remained robust with CAD 78.9 million in positive working capital and a senior debt bank debt ratio of 0.09 times, showcasing a stable outlook despite global economic uncertainties.Total Energy Services Corporate Events
Executive/Board ChangesShareholder Meetings
Total Energy Services Inc. Announces Results of Annual Shareholders Meeting
Neutral
May 13, 2025
Total Energy Services Inc. held its annual meeting of shareholders where key decisions were made, including the election of directors and the appointment of auditors. All nominated directors were successfully elected, and MNP LLP was appointed as the company’s auditors, reflecting strong shareholder support and continuity in the company’s governance structure.
M&A TransactionsBusiness Operations and StrategyFinancial Disclosures
Total Energy Services Reports Strong Q1 2025 Results Amid Strategic Expansion
Positive
May 8, 2025
Total Energy Services Inc. reported a strong financial performance for the first quarter of 2025, with a 23% increase in revenue compared to the previous year, driven by improved performance in its Compression and Process Services segment and the acquisition of Saxon Energy Services Australia Pty. Ltd. Despite a decline in U.S. activity and challenges in the Canadian market, the company’s strategic expansion in Australia, including the deployment of upgraded drilling rigs, has significantly bolstered its operations and market position.
M&A TransactionsBusiness Operations and StrategyFinancial Disclosures
Total Energy Services Reports Strong Q1 2025 Results Amidst Mixed Regional Performance
Positive
May 8, 2025
Total Energy Services Inc., a company operating in the energy services sector, reported its financial results for the first quarter of 2025, highlighting a 23% increase in revenue compared to the previous year. The company experienced stable industry conditions in Canada and Australia, with improved performance in its Compression and Process Services segment and contributions from the acquisition of Saxon Energy Services Australia Pty. Ltd. However, there was a noted decline in U.S. operations, which was offset by increased activity in Australia.
Financial Disclosures
Total Energy Services to Host Q1 2025 Financial Results Conference Call
Neutral
Apr 4, 2025
Total Energy Services Inc. announced a conference call and webcast scheduled for May 9, 2025, following the release of its financial results for the first quarter of 2025. This event, hosted by President and CEO Daniel Halyk, is open to shareholders and interested parties, providing an opportunity to gain insights into the company’s financial performance and strategic direction.
Dividends
Total Energy Services Declares Quarterly Dividend
Positive
Mar 11, 2025
Total Energy Services Inc. has announced a quarterly dividend of $0.10 per common share for the quarter ending March 31, 2025, payable on April 15, 2025. This announcement highlights the company’s commitment to returning value to its shareholders and may positively impact its market positioning by reinforcing investor confidence.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.