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Home CompaniesSource Energy Services Ltd

Source Energy Services Ltd

Energy Oil & Gas Equipment & Services
PortfolioPortfolio WatchlistWatchlist
Company price
10.17 CAD 0.33 ( 3.35%)
Last update at 2026-09-25T19:46:00Z
VOLUME
37915
Market Cap
199.87M
P/E
6.16

Momentum Score

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Source Energy Services Ltd., together with its subsidiaries, engages in the production and distribution of frac sand used primarily in oil and gas exploration and production in Canada and the United States. It also provides logistics services, including trucking operations; and Sahara, a well-site mobile sand storage and handling system, as well as distributes bulk completion materials. The company was founded in 1998 and is headquartered in Calgary, Canada.

Source: TradingView
The charts and visual representations are sourced from TradingView through embedded widgets. For any issues with chart display, please visit the TradingView website

Day Price Range
9.65
Low
10.17
High
52 Week Price Range
8.75
Low
18.40
High

Momentum Score

…
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.

Score - Rating
>= 1 - Low / > 1 but < 2 - Below Average / > 2 but < 3 - Average / > 3 but < 4 - Above Average / > 4 - High
AI Summary

Source Energy Services Ltd (SHLE.TO) is a Canadian oilfield services company that, based on available filings, provides wellsite fluid handling, water management and related support to upstream oil and gas operators. Long-term growth drivers include drilling and completion activity tied to commodity prices, demand for water-treatment and efficiency solutions, and potential benefits from operational scale, which may make it a way to gain exposure to a recovery in Canadian E&P activity despite limited public information.

Key risks are sensitivity to oil and gas price cycles and drilling activity, intense competition and pricing pressure, regulatory and environmental constraints on water and emissions, and potential execution or liquidity risk given limited disclosure.

Risk Score
Medium

Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.

Key Metrics*

Previous Close
9.84
Dividend Yield
-
Revenue TTM
700.31M
Revenue Per Share
52.49
Gross Profit TTM
116.58M
Debt / Equity
1.69
ROE
16.59%
Net Debt
332.79M
ROCE
10.67%
Diluted EPS TTM
2.48

Key Financials*

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Income before tax 38.46M 17.85M 149.97M -8.77M -24.40M
Minority interest - - - - 0.00M
Net income 33.08M 9.51M 167.34M -2.93M -23.54M
Selling general administrative 26.16M 45.71M 30.86M 19.95M 18.50M
Selling and marketing expenses 13.68M 10.61M 8.55M 6.77M 5.13M
Gross profit 93.86M 127.34M 109.41M 58.15M 39.33M
Reconciled depreciation 65.05M 52.38M 37.58M 31.38M 30.98M
Ebit 49.17M 50.31M 186.02M 17.48M 3.66M
Ebitda 114.57M 102.69M 223.89M 49.05M 35.38M
Depreciation and amortization 65.40M 52.38M 37.88M 31.56M 31.72M
Operating income 49.17M 65.29M 60.70M 17.48M 3.66M
Other operating expenses 651.14M 608.66M 509.05M 399.38M 316.84M
Interest expense 30.05M 34.28M 34.41M 32.27M 29.67M
Tax provision 5.38M 8.34M -17.38M 0.00M 0.00M
Interest income - 31.62M 35.76M 23.36M 29.32M
Net interest income -30.40M -34.28M -36.34M -33.15M -30.32M
Income tax expense 5.38M 8.34M -17.38M -5.84M -0.86M
Total revenue 700.30M 673.95M 569.75M 415.91M 319.86M
Total operating expenses 44.69M 62.05M 48.71M 41.61M 36.31M
Cost of revenue 606.45M 546.61M 460.34M 357.77M 280.53M
Total other income expense net -10.71M -47.43M 96.32M -26.25M -28.06M
Net income from continuing ops 33.08M 9.51M 167.34M -8.77M -24.40M
Net income applicable to common shares - 9.51M 167.34M -8.77M -24.40M
Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Total assets 617.13M 598.22M 482.83M 326.90M 266.03M
Other current assets 11.26M - 7.07M 76.13M 6.91M
Total liab 408.24M 408.35M 313.70M 321.24M 259.50M
Total stockholder equity 208.90M 189.87M 169.13M 5.66M 6.53M
Other current liab 9.30M - 1.27M 69.60M 30.36M
Common stock 404.74M - 410.63M 410.63M 410.63M
Capital stock 404.74M 410.63M 410.63M 410.63M 410.63M
Retained earnings -211.86M -244.94M -254.45M -421.80M -413.02M
Other liab - - - 6.55M 7.59M
Other assets - - - 10.89M 0.54M
Cash 19.90M 32.72M - -68.42M -38.44M
Total current liabilities 156.38M 140.97M 108.37M 87.45M 50.31M
Current deferred revenue 3.54M - 2.73M 0.15M 0.09M
Net debt 332.79M 162.25M 221.78M 313.36M 259.90M
Short term debt 39.23M - 33.83M 17.70M 19.86M
Short long term debt 11.69M 8.09M 17.56M - 7.50M
Short long term debt total 352.69M - 221.78M 244.94M 221.47M
Other stockholder equity 2.46M - 2.46M 2.46M 2.46M
Property plant equipment - - - 193.46M 158.75M
Total current assets 204.72M 212.59M 136.18M 122.55M 106.75M
Net tangible assets - - - 5.66M 6.53M
Net receivables 81.33M 79.50M 44.01M 42.30M 43.50M
Long term debt 162.59M 186.87M 141.53M 176.52M 175.53M
Inventory 92.22M 89.43M 85.10M 72.53M 56.34M
Accounts payable 104.31M 94.85M 70.54M 68.42M 29.34M
Accumulated other comprehensive income 13.55M - 10.49M 14.36M 6.46M
Non currrent assets other 0.35M - 30.82M 10.89M 0.54M
Non current assets total 412.41M 385.62M 346.65M 204.35M 159.29M
Capital lease obligations 102.98M 79.90M 62.69M 68.42M 38.44M
Long term debt total - - - - 201.61M
Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Investments - -27.06M -13.20M -13.90M -6.00M
Change to liabilities - - - 38.31M -5.06M
Total cashflows from investing activities -59.35M -27.06M -13.20M -13.90M -6.00M
Net borrowings -37.36M 1.29M -45.41M -26.67M -0.11M
Total cash from financing activities -43.25M -34.61M -67.04M -66.28M -8.01M
Change to operating activities - - - -2.90M -1.32M
Net income 33.08M 9.51M 167.34M -8.77M -24.40M
Change in cash -12.82M 32.72M 0.00M 0.00M 0.00M
Begin period cash flow 32.72M 0.00M 0.00M 0.00M 0.00M
End period cash flow 19.90M 32.72M 0.00M 0.00M 0.00M
Total cash from operating activities 90.61M 94.39M 80.24M 80.17M 14.01M
Depreciation 65.40M 52.72M 37.88M 31.38M 30.98M
Other cashflows from investing activities -1.17M 0.98M -0.16M 0.90M 0.44M
Dividends paid 0.00M 0.00M 0.00M 0.00M 0.00M
Change to inventory -3.97M 0.34M -12.61M -13.47M -6.24M
Change to account receivables 1.03M -35.15M -1.43M 1.62M -9.08M
Sale purchase of stock -5.89M - - - -
Other cashflows from financing activities -26.92M -35.90M -21.64M -28.60M 5.21M
Change to netincome - - - 33.76M 28.99M
Capital expenditures 59.85M 43.32M 22.11M 15.17M 6.52M
Change in working capital 18.61M -14.86M -13.97M 23.56M -21.69M
Stock based compensation -3.03M 14.74M 6.76M 0.95M 0.64M
Other non cash items -27.69M 23.94M -99.48M 33.05M 28.49M
Free cash flow 30.76M 51.06M 28.98M 65.01M 7.49M

Peer Comparison*

Sector: Energy Industry: Oil & Gas Equipment & Services

Stock Name
Change
(CAD)
Price
(CAD)
Trailing
PE (x)
Forward
PE (x)
Price Sales
TTM (x)
Price to Book Value (x)
Enterprise Value
to Revenue (x)
Enterprise Value
to EBITDA (x)
SHLE
Source Energy Services Ltd		 0.33
3.35%		 10.17 6.16 4.69 0.29 0.96 0.66 3.45
EFX
Enerflex Ltd.		 0.50
1.52%		 33.36 44.54 15.80 1.50 2.60 1.33 8.44
CEU
CES Energy Solutions Corp		 -0.19
1.03%		 18.28 19.15 17.92 1.48 4.60 1.67 10.57
TVK
Terravest Capital Inc		 -1.30
1.12%		 114.40 32.39 57.14 1.91 4.02 2.52 11.60
TCW
Trican Well Service Ltd.		 -0.01
0.16%		 6.08 11.28 10.49 1.23 1.92 1.31 5.99

Profile*

Source Energy Services Ltd

Source Energy Services Ltd., together with its subsidiaries, engages in the production and distribution of frac sand used primarily in oil and gas exploration and production in Canada and the United States. It also provides logistics services, including trucking operations; and Sahara, a well-site mobile sand storage and handling system, as well as distributes bulk completion materials. The company was founded in 1998 and is headquartered in Calgary, Canada.

500, 438 - 11th Avenue SE, Calgary, AB, Canada, T2G 0Y4

403-262-1312

https://www.sourceenergyservices.com

556

Name Title Year Born
Mr. Scott Melbourn Pres & CEO NA
Mr. Derren J. Newell CA VP & Chief Financial Officer 1969
Mr. Kurtis Kisio VP of Sales & Marketing 1985
Mr. Kelly Roncin Pres of Production NA
Mr. Shawn Furlong VP of HSE & Sustainability NA
Mr. Jarett Finney Pres of Distribution NA
Mr. Scott Melbourn President, CEO & Director 1974
Mr. Derren J. Newell CA Executive VP & CFO 1969
Mr. Kurtis Kisio Vice President of Sales & Marketing 1985
Mr. Shawn Furlong President of Production NA

Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.

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