If you’ve noticed Secure Waste Infrastructure (TSX: SES) dropping about 10% lately, you might wonder if now is the time to buy. For patient investors, this dip could be a rare chance. This Canadian stock looks practically perfect to buy and hold for life. Let’s get into why.
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About SES
Secure Waste is a Canadian leader in waste management and energy infrastructure. It operates waste processing plants, metal recycling, specialty chemicals, pipelines, terminals and landfills across Western Canada and parts of the United States. That makes its work essential and recession-resistant .
Right now, SES trades near $15.05 per share, down from around $17. That drop opens a window. Many analysts still rate it a buy, implying about 15% upside from today’s price . The latest earnings show why it’s appealing. In the first quarter (Q1) of 2025, Secure reported adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $121 million, or about $0.52 per basic share . That was strong enough to boost its full-year guidance to $510-$540 million .
Profit-wise, it earned about $0.16 per share on net income of $38 million for the quarter . That’s down from $1.50 per share a year ago, but that prior number included a massive one-time gain of C$520 million from divestitures . When you adjust for that, current earnings are solid and stable. Plus, Revenue for Q1 hit $2.699 billion, slightly down from $2.875 billion in Q1 2024 . That small dip actually reflects seasonality in its business, not weakening performance. The Canadian stock also continues growing its metals recycling presence, having spent $162 million on an Edmonton acquisition .
More to come
Its balance sheet is stable. The Canadian stock ended Q1 with $20 million in cash and $470 million available on its revolving credit facility . Debt to EBITDA sits at a manageable 1.6 times, well under covenant limits . That gives it the flexibility to pay down debt, buy back shares, and continue investing in growth .
Dividends are another reason to consider it. Secure pays a quarterly dividend of $0.10 per share, giving a yield of about 2.6%. It’s backed by steady cash flow and a payout ratio of around 50%. That leaves room for growth, even as conditions shift .
On valuation, SES trades at a trailing price-to-earnings (P/E) ratio of about six times and forward P/E of around 16 times . That’s reasonable for a Canadian stock with essential services and growth built in. It’s been growing steadily, revenue in 12 months topped $10 billion, with net profit of nearly $198 million.
Bottom line
It’s not just numbers. The Canadian stock offers something unique: exposure to critical infrastructure that people rely on. As long as energy production happens, waste needs to be handled, and pipelines must run. That gives SES a kind of economic moat that lasts.
Of course, all stocks carry risk. Energy costs fluctuate. Regulations change. But Secure Waste’s mix of operations and solid financial footing help cushion against surprises.
In short, this isn’t a wild speculative bet. It’s a down‑to‑earth pick with stable income, defended by essential services, fairly valued, and ready to run for decades. If you want a practical, long‑term Canadian stock you can buy now and forget about, SES looks practically perfect.
