Q: Secure Waste Infrastructure (TSX:SES).
Is this another QST?
Is it worth buying?
Thank you.
Is this another QST?
Is it worth buying?
Thank you.
5i Research Answer:
SES is cheap and has a decent balance sheet. It pays a 2.63% dividend which has shown a bit of growth. At $3.6B, it is significantly larger than QST ever was. SES has decent cash flow and the stock is up 48% in the past year. 2025 earnings, however, are expected to decline, but this does seem reflected in the low valuation of 7X earnings. The business can be cyclical, but would consider it worth buying on valuation and potential.