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CES Energy Solutions Corp. (CEU.TO)

CAD16.07 -0.23 (-1.41%)
CA TSX Energy Oil & Gas Equipment & Services
Address 332-6th Avenue SW T2P 0B2
Calgary, AB, CA
CEO Kenneth E. Zinger
IPO 2006-03-02
ISIN CA15713J1049

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Also trades on Other OTC · CESDF (USD) Toronto Stock Exchange · CEU.TO (CAD)
Description

CES Energy Solutions Corp., headquartered in Calgary, Canada, was established in 1986. This company specializes in the development, production, and distribution of advanced consumable fluids and bespoke chemical products tailored for the energy sector. Their comprehensive chemical solutions address various stages of oil and gas operations, including the drill-bit phase, completion and stimulation processes, wellhead and pump-jack maintenance, and the pipeline and midstream segments. Key products include corrosion inhibitors, demulsifiers, H2S scavengers, paraffin control agents, surfactants, scale inhibitors, biocides, and other specialized additives. Beyond product manufacturing, CES Energy Solutions offers an array of services. They engineer and deploy custom drilling fluid systems and completion solutions for oil and gas producers. The company also produces a range of specialty chemicals for use in oil and natural gas production, fracturing operations, and the pipeline and midstream infrastructure. Furthermore, they manage their own fleet of trucks and trailers for product transportation within the industry. Complementary services include environmental consulting, water management, responsible disposal of drilling fluids waste primarily for producers, and analytical laboratory services. CES Energy Solutions caters to a diverse client base across the oil and natural gas industry, encompassing multinational producers, intermediate operators, independent junior companies, and joint ventures, as well as participants in the pipeline and midstream markets. Their primary geographic focus is Western Canada and the United States. The company officially adopted the name CES Energy Solutions Corp. in June 2017, having previously operated as Canadian Energy Services & Technology Corp.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
CAD16.07 -0.23 (-1.41%)
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Volume Profile
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Liquidity & share structure
Average Volume
598.3K
Beta
0.98
Float Shares
162.34M
Free Float %
77.4%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-0.84% -8.59% -3.44% +7.36% +85.31% +43.93% +180.32% +632.78% +938.82% +466.03% +1,476.79%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
16.07
DCF (Unlevered) 21.42 +33.3%
DCF (Levered) 41.68 +159.4%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 75% Bullish
Rating 2026-05 Change
Strong Buy 5 0
Buy 1 0
Hold 2 0
Sell 0 0
Strong Sell 0 0
Quality scores
Altman Z-Score
5.27
Safe zone
Piotroski F-Score
5 / 9
Average
MOAT Score
6 / 10
Developing
Composite Rating
A-
Overall Score
4 / 5
High
DCF Score
5 / 5
High
ROE Score
5 / 5
High
ROA Score
5 / 5
High
D/E Score
2 / 5
Medium
P/E Score
3 / 5
Medium
P/Book Score
1 / 5
Low
Operational MOAT
✗ Below peers
  • Revenue growth Oil & Gas Equipment & Services: +6.7%
    +6.0% Q1'26: +7.8% (vs Q1'25)
  • EPS growth Oil & Gas Equipment & Services: +14.3%
    +13.6% Q1'26: +26.3% (vs Q1'25)
  • FCF margin FCF growth · Oil & Gas Equipment & Services: +40.2%
    +6.5% Q1'26: +6.4% (vs Q1'25)
  • EBIT margin Oil & Gas Equipment & Services: +10.9%
    +10.8% Q1'26: +8.3% (vs Q1'25)
  • ROIC Oil & Gas Equipment & Services: +6.7%
    +16.8% Q1'26: +13.4% (vs Q1'25)
  • Share dilution Oil & Gas Equipment & Services: +0.3%
    -6.1% Q1'26: -7.0% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Oil & Gas Equipment & Services: 0.32×
    1.29× Q1'26: 1.40× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (1.01) × ERP
WACC = 89% × Ke + 11% × Kd (7.3%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 21.42 Current price: 16.07
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2011
actual
Dec 2012
actual
Dec 2013
actual
Dec 2014
actual
Dec 2015
actual
Dec 2016
actual
Dec 2017
actual
Dec 2018
actual
Dec 2019
actual
Dec 2020
actual
Dec 2021
actual
Dec 2022
actual
Dec 2023
actual
Dec 2024
actual
Dec 2025
actual
Dec 2026
7 Rev. Ana.
6 EPS Ana.
Dec 2027
7 Rev. Ana.
6 EPS Ana.
Dec 2028
2 Rev. Ana.
2 EPS Ana.
Dec 2029
1 Rev. Ana.
1 EPS Ana.
Dec 2030
1 Rev. Ana.
1 EPS Ana.
Revenue
459.26M
est: 461.01M (-0.4%)
471.30M
est: 494.43M (-4.7%)
662.82M
est: 656.02M (+1.0%)
972.71M
est: 971.76M (+0.1%)
749.61M
est: 758.98M (-1.2%)
567.73M
est: 554.71M (+2.3%)
1.03B
est: 1.02B (+1.1%)
1.27B
est: 1.25B (+1.8%)
1.28B
est: 1.27B (+0.8%)
888.05M
est: 870.43M (+2.0%)
1.20B
est: 1.16B (+3.3%)
1.92B
est: 1.89B (+1.5%)
2.16B
est: 2.23B (-3.1%)
2.35B
est: 2.35B (+0.1%)
2.49B
est: 2.47B (+1.1%)
2.73B
2.62B – 2.91B
+10.8% YoY
2.92B
2.74B – 3.18B
+6.8% YoY
3.35B
3.34B – 3.35B
+14.7% YoY
4.10B
3.90B – 4.42B
+22.7% YoY
4.47B
4.24B – 4.81B
+8.9% YoY
EBITDA
73.36M
est: 70.53M (+4.0%)
58.72M
est: 71.96M (-18.4%)
97.10M
est: 68.46M (+41.8%)
156.56M
est: 88.47M (+77.0%)
-72.51M
est: 86.18M (-184.1%)
26.37M
est: -83.19M (+131.7%)
130.40M
est: -45.69M (+385.4%)
142.90M
est: 67.57M (+111.5%)
147.04M
est: 90.59M (+62.3%)
-178.42M
est: 60.05M (-397.1%)
141.86M
est: 60.18M (+135.7%)
230.34M
est: 79.61M (+189.3%)
300.59M
est: 434.72M (-30.9%)
355.93M
est: 456.13M (-22.0%)
373.77M
est: 480.41M (-22.2%)
532.19M
511.28M – 566.30M
+10.8% YoY
568.16M
533.01M – 619.23M
+6.8% YoY
651.67M
650.46M – 652.89M
+14.7% YoY
799.42M
758.73M – 861.27M
+22.7% YoY
870.52M
826.21M – 937.87M
+8.9% YoY
EBIT
63.91M
est: 58.50M (+9.3%)
47.24M
est: 69.39M (-31.9%)
69.44M
est: 63.02M (+10.2%)
114.60M
est: 104.89M (+9.3%)
-127.51M
est: 92.86M (-237.3%)
-34.84M
est: -106.85M (+67.4%)
52.35M
est: -58.58M (+189.4%)
77.74M
est: 81.05M (-4.1%)
70.59M
est: 74.50M (-5.2%)
-253.93M
est: 47.13M (-638.8%)
73.53M
est: 47.23M (+55.7%)
155.85M
est: 62.48M (+149.4%)
227.74M
est: 374.45M (-39.2%)
270.25M
est: 392.89M (-31.2%)
269.51M
est: 413.81M (-34.9%)
458.41M
440.39M – 487.78M
+10.8% YoY
489.38M
459.11M – 533.38M
+6.8% YoY
561.32M
560.27M – 562.37M
+14.7% YoY
688.59M
653.53M – 741.85M
+22.7% YoY
749.83M
711.66M – 807.83M
+8.9% YoY
Net Income
41.70M
est: 48.69M (-14.4%)
27.87M
est: 44.72M (-37.7%)
37.26M
est: 37.02M (+0.6%)
67.70M
est: 55.18M (+22.7%)
-92.28M
est: 53.77M (-271.6%)
-64.55M
est: -67.16M (+3.9%)
36.24M
est: -118.65M (+130.5%)
47.74M
est: 44.40M (+7.5%)
30.11M
est: 48.49M (-37.9%)
-222.90M
est: 20.10M (-1,208.9%)
49.88M
est: 20.15M (+147.6%)
95.22M
est: 26.65M (+257.3%)
154.64M
est: 190.35M (-18.8%)
191.11M
est: 184.43M (+3.6%)
204.72M
est: 185.30M (+10.5%)
228.30M
211.53M – 240.78M
+23.2% YoY
250.75M
232.40M – 315.72M
+9.8% YoY
328.24M
244.17M – 412.32M
+30.9% YoY
484.36M
452.31M – 533.07M
+47.6% YoY
586.57M
547.75M – 645.56M
+21.1% YoY
SGA
55.17M
est: 61.83M (-10.8%)
62.64M
est: 59.20M (+5.8%)
103.86M
est: 78.02M (+33.1%)
148.57M
est: 136.11M (+9.2%)
151.62M
est: 104.49M (+45.1%)
143.65M
est: 93.50M (+53.6%)
183.64M
est: 217.31M (-15.5%)
210.93M
est: 192.01M (+9.8%)
203.29M
est: 188.69M (+7.7%)
169.35M
est: 117.33M (+44.3%)
186.92M
est: 117.60M (+58.9%)
206.18M
est: 155.56M (+32.5%)
242.17M
est: 278.66M (-13.1%)
298.97M
est: 292.38M (+2.3%)
303.93M
est: 307.95M (-1.3%)
341.14M
327.73M – 363.00M
+10.8% YoY
364.19M
341.66M – 396.93M
+6.8% YoY
417.72M
416.94M – 418.50M
+14.7% YoY
512.43M
486.35M – 552.07M
+22.7% YoY
558.00M
529.60M – 601.17M
+8.9% YoY
EPS
0.25
est: 0.24 (+3.1%)
0.17
est: 0.19 (-11.2%)
0.20
est: 0.20 (-1.8%)
0.33
est: 0.33 (+0.1%)
-0.42
est: 0.08 (-596.4%)
-0.27
est: -0.24 (-13.0%)
0.14
est: 0.17 (-16.5%)
0.18
est: 0.15 (+16.2%)
0.11
est: 0.10 (+9.4%)
-0.85
est: -1.01 (+15.5%)
0.20
est: 0.14 (+38.4%)
0.37
est: 0.35 (+6.5%)
0.62
est: 0.80 (-22.0%)
0.82
est: 0.85 (-3.6%)
0.93
est: 0.84 (+11.2%)
1.04
0.95 – 1.08
+24.8% YoY
1.20
1.05 – 1.42
+14.9% YoY
1.48
1.10 – 1.86
+23.2% YoY
2.18
2.04 – 2.40
+47.6% YoY
2.64
2.47 – 2.91
+21.1% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-08 A- 4/5 5/5 5/5 5/5 2/5 3/5 1/5
2026-05-07 A- 4/5 5/5 5/5 5/5 2/5 3/5 1/5
2026-05-06 A- 4/5 5/5 5/5 5/5 2/5 3/5 1/5
2026-05-05 A- 4/5 5/5 5/5 5/5 2/5 3/5 1/5
2026-05-04 A- 4/5 5/5 5/5 5/5 2/5 3/5 1/5
2026-05-01 A- 4/5 5/5 5/5 5/5 2/5 3/5 1/5
2026-04-30 A- 4/5 5/5 5/5 5/5 2/5 3/5 1/5
2026-04-29 A- 4/5 5/5 5/5 5/5 2/5 3/5 1/5
2026-04-28 A- 4/5 5/5 5/5 5/5 2/5 3/5 1/5
2026-04-27 A- 4/5 5/5 5/5 5/5 2/5 3/5 1/5
2026-04-24 A- 4/5 5/5 5/5 5/5 1/5 3/5 2/5
2026-04-23 B+ 3/5 5/5 5/5 5/5 1/5 2/5 1/5
2026-04-22 B+ 3/5 5/5 5/5 5/5 1/5 2/5 1/5
2026-04-21 A- 4/5 5/5 5/5 5/5 1/5 2/5 2/5
2026-04-20 A- 4/5 5/5 5/5 5/5 1/5 2/5 2/5
2026-04-17 A- 4/5 5/5 5/5 5/5 1/5 2/5 2/5
2026-04-16 A- 4/5 5/5 5/5 5/5 1/5 2/5 2/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
237.43M
OE per share TTM
1.09
Owner's Yield
6.35%
Maintenance CapEx ratio
30.17%
Maint CapEx / Avg PPE
21.6%

Ownership Overview

Ownership breakdown
At a glance
Institutional holders
2
Total invested
410.0K
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend From To
13F snapshot — 2025 Q4
Investors holding
2
+0 vs prev Q
New positions
0
Closed positions
0
Increased
0
Reduced
1
Put/Call ratio
0.00
Calls held
Puts held
Top institutional holders
# Investor Shares / Δ Mkt value / Δ Own% / Δ Weight% / Δ Avg px / Perf. Hold / Status
1 GAGNON SECURITIES LLC 45.7K -375.0 (-0.8%) 409.1K +98.1K (+31.6%) 0.02% +0.000 pp 0.08% +0.021 pp CAD2.56 +379.3% 29 qtrs
2 ORG PARTNERS LLC 101.00 +— (+0.0%) 902.00 +222.0 (+32.6%) 0.00% +0.000 pp 0.00% +0.000 pp CAD7.40 +65.8% 7 qtrs
Ownership breakdown by holder

ETF Ownership

Top ETFs holding this stock Held by 68 ETFs in our universe
# ETF Weight Est. AUM exposure TER
1 OneAscent International Equity ETF OAIM 1.22% 4.49M 0.95%
2 iShares S&P/TSX SmallCap Index ETF XCS.TO 1.13% 1.93M 0.60%
3 iShares S&P/TSX Capped Energy Index ETF XEG.TO 0.88% 14.77M 0.60%
4 iShares S&P/TSX Canadian Dividend Aristocrats Index ETF CDZ.TO 0.50% 4.39M 0.66%
5 iShares S&P/TSX Completion Index ETF XMD.TO 0.35% 1.94M 0.60%
6 Desjardins RI Canada - Net-Zero Emissions Pathway ETF DRMC.TO 0.26% 189.8K 0.15%
7 Desjardins Market Neutral ETF DANC.TO 0.26% 382.0K 1.00%
8 Avantis International Small Cap Value ETF AVDV 0.11% 21.75M 0.36%
9 Schwab International Small-Cap Equity ETF SCHC 0.09% 5.00M 0.06%
10 Avantis International Small Cap Equity ETF AVDS 0.09% 279.0K 0.30%

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
106.4K
Shares Outstanding
209.78M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Kenneth E. Zinger President, Chief Executive Officer & Director 5M male
Vernon James Disney President of US Production Chemicals 4M male
Anthony Michael Aulicino Executive Vice President & Chief Financial Officer 4M male
Richard L. Baxter President Emeritus & Senior Advisor to AES Drilling Fluids, LLC 3M male
James Strickland President of US Drilling Fluids 2M male
Michael Hallat President of Sialco Materials Limited 1M male
Mihir Patel President of Canadian Drilling Fluids 757.0K male
Matthew S. Bell Director of Legal & Corporate Secretary male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits