# CES Energy Solutions Corp. (CEU.TO) fundamentals

Data as of 2026-09-08. TSX, Canada. Sector: Energy / Energy Equipment & Services. Price C$19.03, market value C$4.0 billion.

## Valuation
- **P/E (trailing): 20.7×** (5-yr avg 9.5×, 3-yr avg 10.2×). CES Energy Solutions Corp. trades at 20.7× trailing earnings, well above its own five-year average of 9.5×: investors are paying up relative to the company's past. The Energy median in the September 2026 study was 16.8×. Forward P/E is 14.7×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 1.09**. A PEG of 1.09 is in the range usually read as fairly priced for its growth.
- **Price / sales: 1.5×**. Each dollar of revenue is priced at 1.5×.
- **Price / book: 4.5×**. The shares trade at 4.5× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 10.7×**. Enterprise value is 10.7× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 4.9%** (5-yr avg 2.8%). Free cash flow equals 4.9% of the market value, above its five-year average of 2.8%, so the shares are cheaper on cash than they have usually been.
- **Earnings yield: 4.8%**. The inverse of the P/E: 4.8% of the price is earned each year.

## Profitability
- **Gross margin: 23.7%**. CES Energy Solutions Corp. keeps 23.7% of revenue after the direct cost of what it sells, a thin margin typical of retail, distribution and commodity businesses.
- **Operating margin: 10.3%**. 10.3% of revenue is left after running the business.
- **Net margin: 8.2%**. 8.2% of each dollar of sales reaches the bottom line.
- **Return on equity: 25.5%**. 25.5% on shareholders' equity is excellent if it is not driven by leverage; sustained above 20% usually signals a competitive advantage.
- **Return on invested capital: 16.9%**. Return on all capital, debt included, is 16.9%: comfortably above what that capital costs.
- **Return on assets: 12.2%**. Each dollar of assets produces 12.2% of profit.

## Growth
- **Revenue growth (1 yr): 6.0%** (3-yr 9.1%/yr, 5-yr 22.9%/yr). Revenue grew 6.0% over the last year, against 22.9% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): 13.6%** (3-yr 36.7%/yr). Earnings per share rose 13.6%, faster than revenue, so margins expanded or the share count shrank.

## Financial health
- **Debt to equity: 0.60**. Debt is 0.60 times equity, moderate leverage.
- **Net debt / EBITDA: 1.2×**. It would take 1.2 years of operating earnings to repay net borrowings, within the comfortable range.
- **Current ratio: 2.86** (quick 1.67). Current assets cover the next year's liabilities 2.86 times.
- **Altman Z-score: 6.20**. A Z-score of 6.20 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.

## Dividends
- **Dividend yield: 1.16%** (C$0.20 per share, trailing). CES Energy Solutions Corp. yields 1.16%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 17%** (20% of free cash flow). 17% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 5**. 5 straight years of increases.
- **Dividend growth (5 yr): 73.3%/yr** (1-yr 43.3%). The dividend has compounded at 73.3% a year over five years, doubling roughly every 1 years at that pace.
- **Shareholder yield: 4.1%**. Dividends plus net buybacks return 4.1% of the market value a year.

## Analyst view
- **Analyst consensus: buy** (8 analysts). 8 analysts cover CES Energy Solutions Corp.; the consensus is buy, with an average price target of C$21.88 (+15% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 130.1%** (YTD 56.1%, 3-mo 10.7%). The shares are up 130.1% over twelve months including dividends.
- **From 52-week high: -3.1%** (132.1% above the low). Trading within 5% of its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 61**. An RSI of 61 is neutral.
- **Beta (1 yr): 0.51** (volatility 37%). Beta of 0.51 against the S&P/TSX Composite: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=CEU.TO · Page: https://foliofundamentals.com/stocks/ceu.to

Not investment advice.