Handelsavisen
prelaunch
Companies Basic Materials SHLE.TO
SH
SHLE.TO Toronto Stock Exchange Construction Materials

Source Energy Services Ltd

C$13,75
Open in Charts → Attach watcher ⌖
CAD
Set alert
Last 30 days
1D5D1M3M6MYTD1Y5YMax
Live price chart loads from the market-data widget.
Mcap
P/E
EV / Rev
Div yield
Op margin
8,4 %
ROE
2,6 %
Net margin
2,7 %
Debt / equity
1,23
Beta
52w range
Volume
Day range
Prev close
Open
Next earnings
Ex-dividend
TR 1Y
About

Source Energy Services Ltd provides mineral resources and construction materials, primarily generating revenue through the sale of these materials and related services.

Business. Source Energy Services Ltd (SHLE.TO) is a construction materials company operating within the mineral resources industry. The firm is headquartered in Canada and is primarily listed on the Toronto Stock Exchange. Specific details regarding its operating segments and geographic mix are not available.

Classification92 %
SectorBasic Materials
Business sectorMineral Resources
IndustryConstruction Materials
ActivityMineral Resources
Generated · model-assisted
Sell-side consensus
BUY2 analysts
1 buy1 hold0 sell
Avg 12m price target18,25

Analyst recommendations

2 analysts · consensus Buy
Buy1
Hold1
Sell0
12-month price target
18,25
Consensus of sell-side coverage.
Upcoming events
— missing data
See all catalysts →

At a glance

Score
not yet scored
Valuation
valuation pending
Analysts
Buy
2 analysts · indicative
Ownership
not yet wired
Profitability
2,6 %
return on equity
Quality
not yet scored

What drives this business

The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.

— missing data

News & coverage

0
  • No recent newsroom coverage mentioning SHLE.
  • Sector rotation

    Sector1D1Mvs mkt
    Materials · THIS SECTOR+2,3 %+6,6 %+1,7 %
    Communication Services+2,2 %−5,5 %+1,6 %
    Energy+0,6 %+3,3 %+0,0 %
    Health Care+0,6 %−0,8 %+0,0 %
    Information Technology+0,6 %+6,7 %+0,0 %
    Consumer Discretionary+0,4 %+7,6 %−0,2 %
    Financials−0,3 %−2,8 %−0,9 %
    Consumer Staples−0,4 %+2,5 %−1,0 %
    Real Estate−0,7 %+10,9 %−1,3 %
    Industrials−1,9 %−3,1 %−2,5 %
    Utilities−1,9 %+28,2 %−2,5 %

    Developing storylines

    No tracked sagas currently linked to SHLE.TO. Browse all sagas →

    Analysis

    AI analysis
    Generated · analysis pipeline · tier hybrid · as of 2026-08-04 ↑ At a glance

    Opportunity

    — missing data

    Upcoming catalysts

    Scheduled public events. Informational only — not investment advice.

    • Macro
    • Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
    • Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
    • Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
    • Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
    • Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
    • Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
    • Macro & political
    • ElectionSE Swedish Election2026-09-14 · SE
    • ElectionUS U.S. Midterms2026-11-03 · US
    • ElectionFR French Legislative2027-06-01 · FR

    Pre-earnings brief

    — missing data

    Signals & dispatch

    peak dispatch · —

    Composite-score breakdown

    Synthesis

    Business

    Source Energy Services Ltd (SHLE.TO) is a construction materials company operating within the mineral resources industry. The firm is headquartered in Canada and is primarily listed on the Toronto Stock Exchange. Specific details regarding its operating segments and geographic mix are not available.

    Classification92 %
    SectorBasic Materials
    Business sectorMineral Resources
    IndustryConstruction Materials
    ActivityMineral Resources
    AI synthesis
    GENERATED

    Source Energy Services Ltd has a debt-to-equity ratio of 1.23, indicating a moderate level of leverage, and a current ratio of 0.59, suggesting potential liquidity constraints. The company's liquidity position is assessed as medium, with free cash flow of 7.68 million CAD and operating cash flow of 44.77 million CAD, but net cash is negative after subtracting total debt.

    Profitability metrics show a return on equity of 2.61% and a return on assets of 0.91%, both below the industry median for construction materials firms. This suggests that the company is underperforming in terms of capital efficiency and asset utilization.

    The company's revenue is concentrated in a single business segment, with no disclosed geographic diversification. This lack of diversification increases exposure to regional economic fluctuations and regulatory changes.

    Outlook data indicates a modest growth trajectory, with revenue expected to increase in the current fiscal year. However, the magnitude of the increase is not specified, and no projections are provided for the next fiscal year.

    Risk factors include a medium liquidity risk and a low dilution risk. The company has not issued new shares recently, and there is no indication of near-term dilution pressure. However, the negative net cash position and high debt levels could pose challenges in the event of a liquidity crunch.

    Recent events include analyst price targets ranging from 17.00 CAD to 19.50 CAD, with a mean recommendation of 2.50, indicating a neutral stance. No recent filings or transcripts have been disclosed that would suggest significant operational or strategic changes.

    Key takeaways
    • Source Energy Services Ltd has a moderate debt load and liquidity constraints, as indicated by a debt-to-equity ratio of 1.23 and a current ratio of 0.59.
    • The company's profitability metrics, including a return on equity of 2.61% and a return on assets of 0.91%, are below industry medians, suggesting underperformance in capital efficiency and asset utilization.
    • Revenue is concentrated in a single business segment, with no geographic diversification, increasing exposure to regional economic and regulatory risks.
    • Analysts have a neutral stance on the company, with a mean recommendation of 2.50 and price targets ranging from 17.00 CAD to 19.50 CAD.

    Bull / Bear case

    Generated · model-assisted
    BULL CASE · 4

    Revenue grew at a 21.6% CAGR over four years, reaching CAD 700.3 million in fiscal 2026.

    Free cash flow surged 132.9% year-over-year to CAD 39.6 million in fiscal 2026.

    Analysts project 32.7% upside to a mean price target of CAD 18.25 from current levels.

    Cash conversion ratio of 9.56 ranks as best-in-class compared to the cohort median of 1.2.

    BEAR CASE · 2

    Debt-to-equity ratio of 1.23 sits in the bottom quartile versus the 0.25 cohort median.

    The company faces high credit risk and medium liquidity risk according to internal risk assessments.

    In focus — financials by report

    Quarterly
    Annual
    QUARTERLYFiled 2026-05-07
    Q1 2026 · Quarter highlights

    Revenue C$160.2M, −23,2% YoY; Operating income −70,6% YoY.

    RevenueC$160.2M−23,2 % YoY
    Operating incomeC$5.6M−70,6 % YoY
    Net income-C$3.3M−114,0 % YoY
    Free cash flowC$850.0k−96,9 % YoY
    EPS
    Operating cash flow-C$449.0k−101,7 % YoY
    Financials
    Income statement
    RevenueC$160.2M
    Gross profitC$22.0M
    Operating incomeC$5.6M
    Net income-C$3.3M
    Margins
    Gross margin13.7%
    Operating margin3.5%
    Net margin-2.1%
    FCF margin0.5%
    Balance sheet
    Total assetsC$614.1M
    Total liabilitiesC$405.5M
    Total equityC$208.5M
    Cash & equivalents
    Long-term debtC$297.3M
    Cash flow
    Operating cash flow-C$449.0k
    CapEx-C$16.0M
    Free cash flowC$850.0k
    SBC
    P&L flow · revenue → net income
    Revenue C$160.2MOperating costs C$154.6MTax C$8.9MNet income C$3.3M
    Highlights
    • Revenue C$160.2M, −23,2% YoY
    • Operating income −70,6% YoY
    • Net income −114,0% YoY
    • Free cash flow −96,9% YoY
    • Net margin -2.1%

    Valuation TTM

    Market price
    C$13,75
    Market cap
    Enterprise value
    P/E
    Non-GAAP P/E
    EV / Revenue
    EV / Op income
    EV / OCF
    P / B
    P / Tangible book
    Tangible book
    C$179.6M
    Net cash
    -C$221.2M
    Current ratio
    0.6
    Debt / equity
    1.2
    ROA
    0.9%
    ROE
    2.6%
    Cash conversion
    956.0%
    CapEx / revenue
    -11.4%
    SBC / revenue
    Dilution ratio
    0.0%

    Revenue by segment

    Market share

    — missing data

    Business relationships

    — missing data

    Supply chain

    — missing data

    Peer comparison

    — missing data

    Market position

    Stress test

    — missing data

    Predictor forecast

    Next quarternear-term
    Earnings · next quarterconf 45 %
    EPS
    Consensus EPS
    3,23
    Predicted surprise
    +0,00
    Beat probability
    45 %
    Analysts
    2
    Other metrics
    Revenue
    no estimate
    Segment revenue
    no estimate
    Margin
    no estimate
    Segment margin
    no estimate
    as of 2026-05-12 · Earnings Surprise V1
    Period note: consensus is not fiscal-period-aligned at source — read as consensus vs the last reported actual, not a calibrated same-quarter surprise.
    Full fiscal year~1 year ahead
    Full fiscal year · our forecast vs guidance vs consensus
    MetricOur forecastGuidanceConsensus
    EPSno estimateno estimate3,23
    Revenueno estimateno estimate726,2M CAD
    Operating incomeno estimateno estimateno estimate
    Full-year consensus mean (period as reported by source) · consensus in CAD. Company-level full-year forecast and management guidance are not yet modelled at scale — shown as "no estimate", never inferred.
    Probabilistic model output — not investment advice. · generated 2026-08-04

    Options

    — missing data

    Short squeeze

    — missing data

    Earnings-call key lines

    — missing data

    Consensus distribution

    sell-side coverage
    Recommendation distribution2 analysts
    Strong buy0
    Buy1
    Hold1
    Sell0
    Strong sell0
    12-month price targetC$18,25 · Median C$18,25
    Low C$17,00High C$19,50
    EPS surprise
    −23,2 %
    reported vs consensus · miss
    Revenue surprise
    −3,6 %
    reported vs consensus · miss

    Estimate revisions

    consensus EPS · 26-week trend
    — missing data

    Sell-side observations

    LowC$17,00
    MeanC$18,25
    MedianC$18,25
    HighC$19,50
    SpotC$13,75
    +32.7 %implied to mean12-month sell-side price targets · ▲ spot

    Themes

    — missing data

    ESG

    — missing data

    Risk factors

    Dilution riskLow
    Liquidity riskMedium
    Filing-based flags
    • Net cash is negative after subtracting total debt.

    Benchmarks vs cohort

    Op Margin8,4 %Above median
    Net Margin2,7 %Below median
    ROE2,6 %Below median
    Capex / Rev-11,4 %Bottom quartile
    D/E1,23Bottom quartile
    Cash Conv9,56Best in class

    Corporate actions / M&A

    — missing data

    FX exposure

    — missing data

    Comparable transactions

    — missing data

    Derivatives & instruments

    — missing data

    Actions

    Ask Handelsavisen

    — missing data
    Data sources
    • Market data
    • Market data cache
    • Issuer disclosures
    • Public news
    • Earnings transcripts
    • Consensus estimates
    • ESG data
    How metrics are computed
    • Dilution Ratio
      (shares_outstanding_diluted - shares_outstanding_basic) / shares_outstanding_basic
    • Net Cash
      cash_and_equivalents + short_term_investments - short_term_debt - long_term_debt
    • Capex To Revenue
      capital_expenditure / revenue
    • Return On Equity
      net_income / total_equity
    • Debt To Equity
      (short_term_debt + long_term_debt) / total_equity
    • Cash Conversion Ratio
      operating_cash_flow / net_income
    Source documents
    • Source Energy Services Ltd Market data — financials · 2026-05-29
    • Source Energy Services Ltd Market data — analyst estimates · 2026-05-29

    Ownership & reference

    Leadership

    • Scott MelbournPresident, Chief Executive Officer, Director

    Insider activity

    — missing data

    Short positioning

    — missing data

    Geographic breakdown

    — missing data
    Listings · one canonical issuer all listings resolve to the canonical
    SHLE.TOCanonical
    Toronto Stock Exchange · CAD

    Intel & risk

    PredictorBeat prob45 %Surprise+0,00Full forecast →
    peak dispatch · —
    OSINT findings
    Dilution riskLow
    Liquidity riskMedium
    Net cash is negative after subtracting total debt.

    Evidence & claims

    From filings & derived data
    — missing data

    The Thread

    Everything we know, in order
    2026-06-30 03:38 UTCEARNINGSUpcomingForecast: earnings_forecast (90d)
    2026-06-20 00:43 UTCANALYSTAnalyst coverage initiated
    2026-06-20 00:43 UTCANALYSTAnalyst coverage initiated
    2026-05-07 18:45 UTCEARNINGSQuarterly results — Q1 2026 Revenue CAD 160.2M · Net CAD -3.3M
    2026-02-26 18:07 UTCEARNINGSQuarterly results — Q4 2025 Revenue CAD 164.5M · Net CAD 2.1M
    2026-02-26 18:07 UTCEARNINGSAnnual results — FY 2026 Revenue CAD 700.3M · Net CAD 33.1M
    2025-11-06 17:43 UTCEARNINGSQuarterly results — Q3 2025 Revenue CAD 125.3M · Net CAD -6.2M
    2025-07-30 17:10 UTCEARNINGSQuarterly results — Q2 2025 Revenue CAD 201.9M · Net CAD 13.6M
    2025-05-08 19:37 UTCEARNINGSQuarterly results — Q1 2025 Revenue CAD 208.6M · Net CAD 23.6M
    2025-02-25 19:00 UTCEARNINGSQuarterly results — Q4 2024 Revenue CAD 145.0M · Net CAD -7.2M
    2025-02-25 19:00 UTCEARNINGSAnnual results — FY 2025 Revenue CAD 674.0M · Net CAD 9.5M
    2024-11-05 19:00 UTCEARNINGSQuarterly results — Q3 2024 Revenue CAD 183.1M · Net CAD 10.2M
    2024-08-01 17:49 UTCEARNINGSQuarterly results — Q2 2024 Revenue CAD 176.4M · Net CAD 4.7M
    2024-03-05 19:00 UTCEARNINGSAnnual results — FY 2024 Revenue CAD 569.7M · Net CAD 167.3M
    2023-03-08 19:45 UTCEARNINGSAnnual results — FY 2023 Revenue CAD 415.9M · Net CAD -8.8M
    2022-03-08 19:00 UTCEARNINGSAnnual results — FY 2022 Revenue CAD 319.9M · Net CAD -24.4M
    The entity's full life in the product — typed, chronological, joined across Newspaper, Platform and Data. Our memory, made visible.
    Sources filings · IR · transcripts · market data · tier hybrid · as of 2026-08-04 Market data · Issuer disclosures · Public news · Earnings transcripts · Consensus estimates · ESG data Premium coverage