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CES Energy Solutions Corp (CEU) Fair Value & Analysis

Energy · CA · Market cap C$3.4B

CE CES Energy Solutions Corp CEU · TO
PriceC$18.33
Fair ValueC$11.91
Upside-35.0%
Quality69/100
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Healthy Growth
Thin margins · 8.3% net margin
Low debt · generates free cash flow
1.13% dividend yield
Mixed vs. peers (8/15)
Moderate moat 60/100
Evidence: High Range C$7.65 – C$26.39 Share as image

Fair value as of: Jul 16, 2026

From 26 valuation models · updated 24 days ago

Share price +10.3% over the past month.

A solid business, but screening 35% overvalued on our models.

What matters now

  • The model range is unusually wide (C$7.65 to C$26.39). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid but not exceptional quality (69/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

C$19.28 C$1.28 Fair Value C$11.91 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range C$1.28 – C$19.28 · fair‑value band C$7.65 – C$26.39 · the C$18.33 price screens above the C$11.91 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

CES Energy Solutions Corp (CEU) currently trades at C$18.33, while our model-based Fair Value estimate is C$11.91, implying the stock looks roughly 35.0% overvalued today. The Quality Score stands at 69/100 (solid quality), in the Energy sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, CES Energy Solutions Corp generated revenue of C$2.5B at a net margin of 8.3%. Revenue grew 7.8% year over year. It earns a return on equity of 25.2%. Net debt stands at C$482M. Fundamentals as of Jul 16, 2026

Our scenario range runs from C$7.65 (bear case) to C$26.39 (bull case); at C$18.33, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 6% below its 52-week high and 187% above its 52-week low, currently above its 200-day average. For context, the median of 10 Energy peers we cover trades at -36% fair-value upside, at -35%, CEU screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF C$10.93 C$23.64 C$43.38 80
Residual Income C$6.53 C$9.24 C$62.53 76
Rev-Margin DCF C$9.34 C$18.81 C$32.29 74
All 26 models by family
DCF Models
FCF DCF C$11.38 C$21.41 C$46.69 38
Owner Earnings C$12.93 C$28.30 C$57.44 31
5Y Revenue Exit C$9.34 C$19.22 C$33.43 39
5Y EBITDA Exit C$7.57 C$15.24 C$25.33 41
5Y P/E Exit C$9.04 C$18.56 C$30.20 38
10Y Revenue Exit C$9.54 C$19.46 C$35.44 36
10Y EBITDA Exit C$8.71 C$16.45 C$29.18 37
10Y P/E Exit C$9.70 C$18.95 C$33.53 35
Earnings-Based
Graham-Dodd C$6.60 C$40.65 C$56.73 54
Lynch FV C$11.66 C$16.66 C$21.66 50
PEG = 1.0 C$11.66 C$16.66 C$21.66 46
EPV C$7.66 C$9.14 C$10.41 59
Dividend Discount
Gordon GGM C$1.45 C$2.89 C$4.37 70
DDM Multi-Stage C$1.45 C$2.50 C$3.05 61
Multiples
P/E Multiple C$10.19 C$13.59 C$16.99 63
P/S Multiple C$10.65 C$14.19 C$17.74 58
P/B Multiple C$5.13 C$6.84 C$8.55 55
EV/EBIT C$7.86 C$11.05 C$14.25 53
EV/EBITDA C$6.25 C$8.91 C$11.57 54
EV/Revenue C$8.21 C$12.47 C$16.73 43
Asset-Based
NCAV (Graham) C$1.90 C$2.55 C$3.80 50
Growth DCF
Growth DCF C$10.93 C$23.64 C$43.38 80
Rev-Margin DCF C$9.34 C$18.81 C$32.29 74
Economic Profit
Residual Income C$6.53 C$9.24 C$62.53 76
ROIC Compounder C$9.47 C$14.18 C$20.53 72
Growth Earnings
Growth-Adj P/E C$14.21 C$20.30 C$26.39 68

Widest divergence: Growth Earnings (C$20.30) versus Dividend Discount (C$2.50). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) C$2.5B
Revenue growth (YoY) +7.8%
Net margin 8.3%
Return on equity 25.2%
Free cash flow C$199M FY2025
P/E ratio 16.7
More key figures
Operating margin 8.3%
EPS (TTM) C$0.9700
Dividend yield 1.1%
EPS growth (YoY) +25.8%
Net debt C$482M FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 69/100

Of which business quality 66 · Market factors (momentum, volatility) 74

Profitability 74
Margins and returns on capital today
Quality Growth 45
Are margins and returns improving?
Cashflow 52
Earnings quality: real cash, not paper profit
Fin. Strength 60
Balance sheet, leverage, solvency risk
Investment 74
Disciplined investing over empire-building
Low Volatility 58
Calm price path (market factor)
Momentum 72
Price trend over the last 3–12 months (market factor)
52W Momentum 96
Distance to the 52-week high (market factor)
Net Issuance 100
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

CES Energy Solutions Corp., together with its subsidiaries, engages in the design, implementation, and manufacture of advanced consumable fluids and specialty chemicals in the United States and Canada. The company provides solutions for drill-bit, point of completion and stimulation, wellhead and pump-jack, and pipeline and midstream markets.

Full company description

CES Energy Solutions Corp., together with its subsidiaries, engages in the design, implementation, and manufacture of advanced consumable fluids and specialty chemicals in the United States and Canada. The company provides solutions for drill-bit, point of completion and stimulation, wellhead and pump-jack, and pipeline and midstream markets. Its solutions include corrosion inhibitors, demulsifiers, H2S scavengers, paraffin control products, surfactants, scale inhibitors, biocides, and other specialty products. The company also designs and implements drilling fluid systems and completion solutions for oil and natural gas producers; designs and manufactures production and specialty chemicals for use in the oil and natural gas production; and operates trucks and trailers designed to transport products in the oil and gas industry. In addition, it provides environmental consulting, water management and transfer, and drilling fluids waste disposal services; and laboratory services. CES Energy Solutions Corp. was formerly known as Canadian Energy Services & Technology Corp. and changed its name to CES Energy Solutions Corp. in June 2017. The company was incorporated in 1986 and is headquartered in Calgary, Canada.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

CES Energy Solutions Corp reported revenue of C$2.5B in FY2025 versus C$1.2B in FY2021, a compound +20.2%/yr. Reported net income was C$205M in FY2025, compounding +42.3%/yr from FY2021.

Growth Quality 90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
C$2.5B
Latest YoY
+6.0%
Avg. growth/yr (3Y)
+9.1%
Avg. growth/yr (5Y)
+22.9%
Avg. growth/yr (19Y)
+23.4%
Revenue +20.2%/yr
FY21 C$1.2B
FY22 C$1.9B
FY23 C$2.2B
FY24 C$2.4B
FY25 C$2.5B
Net income +42.3%/yr
FY21 C$49.9M
FY22 C$95.2M
FY23 C$155M
FY24 C$191M
FY25 C$205M

CEU screens 35% overvalued. Compare with SLB N.V →

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Cite: Fair Value Calculator (2026). "CES Energy Solutions Corp Fair Value". https://www.fairvalue-calculator.com/stock/CEU

Peer Group

Oil & Gas Equipment & Services · 191 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 69 · Top 25%
Fair Value upside −35% · Below median
Return on equity (TTM) 25% · Top 25%
Return on assets 10% · Top 25%
Net margin (TTM) 8% · Above median
Operating margin (TTM) 8% · Above median
Revenue growth 8% · Above median
Dividend yield (TTM) 1.1% · Below median
Debt / equity 0.48× · Higher than 75% of peers

Valuation Multiples vs Oil & Gas Equipment & Services median · lower = cheaper

P/E (TTM) 16.7× · Cheaper than median
P/B 3.07× · Pricier than 75% of peers
P/S (TTM) 0.97× · Cheaper than median
P/FCF 12.3× · Pricier than median
EV/EBITDA 9.1× · Pricier than median
PEG 1.28× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 0
FUTURE 39 · sector 0
PAST 100 · sector 28
HEALTH 76 · sector 92
DIVIDEND 23 · sector 31

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Oil & gas

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Oil & Gas Equipment & Services stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
SLB N.V SLBN 836.00 MXN 533.97 MXN -36%
Baker Hughes Company BKR $55.95 $33.55 -40%
TechnipFMC plc FTI $74.57 $27.57 -63%
Halliburton Company HAL $35.22 $21.50 -39%
Tenaris S.A TS $57.16 $45.68 -20%
Yantai Jereh Oilfield Services Group 002353 ¥138.79 ¥34.17 -75%
Saipem SpA SPM €4.20 €2.72 -35%
Subsea 7 S.A SUBC kr 319.00 kr 227.98 -29%
China Oilfield Services Limited 601808 ¥12.08 ¥12.64 +5%
Gaztransport & Technigaz SA GTT €188.10 €95.01 -49%

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Frequently asked questions

Is CES Energy Solutions Corp (CEU) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of C$11.91 versus a price of C$18.33, about −35% (overvalued).
What is the fair value of CEU?
Our model-based fair value for CES Energy Solutions Corp is C$11.91 (as of Jul 16, 2026), built from audited fundamentals. The current price is C$18.33.
What is the quality score of CEU?
CES Energy Solutions Corp has a Quality Score of 69/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of CES Energy Solutions Corp (CEU)?
CES Energy Solutions Corp reported trailing-twelve-month revenue of about C$2.5B (latest available figure, as of Jul 16, 2026).
What is the net profit margin of CEU?
The net profit margin of CES Energy Solutions Corp is about 8.3%, meaning it keeps roughly 8.3% of revenue as net income. Based on the latest reported figures.
Does CES Energy Solutions Corp pay a dividend?
CES Energy Solutions Corp currently shows a dividend yield of about 1.00% relative to its recent price (as of Jul 16, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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