CES Energy Solutions Corp (CEU) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of CES Energy Solutions Corp C$19.99, price C$18.55, upside +7.8%, quality 69 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range C$1.28 – C$20.09 · fair‑value band C$9.94 – C$34.37 · the C$18.55 price screens below the C$19.99 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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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.
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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.
Stock analysis
CES Energy Solutions Corp (CEU) currently trades at C$18.55, while our model-based Fair Value estimate is C$19.99, implying the stock looks roughly 7.2% fairly valued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of C$20.30 per share, and 10 of the 26 models we run sit above the C$18.55 price.
Bear case: the Dividend Discount group reads lowest at C$2.50, and 16 of the 26 models stay below the price. Evidence for this calculation is high.
Scenario range: C$9.94 (bear) to C$34.37 (bull), the price of C$18.55 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 69/100 (solid quality), in the Energy sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
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. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap C$4.1B (≈ $2.9B) · P/E ratio 19.1 · P/S ratio 1.57 · EPS (TTM) C$0.9700 · Dividend yield 0.9% · Net margin 8.2% · Return on equity 25.2% · Return on assets (EBIT) 13.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 8% below its 52-week high and 117% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Energy peers we cover trades at −23% fair-value upside, at 8%, CEU screens cheaper than that median.
Fair Value models
Bear C$9.94Fair Value C$19.99Bull C$34.37
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (C$0.5837 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.80/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+6.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.1%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+22.9%
Start year 2020 (pandemic). Over 10 years: +12.8% a year
Revenue growth 19 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+23.4%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+49.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+48.7%
Dividend (yield on the price)0.9%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.44% vs 11%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−1% → 11%
2025 sits 52% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Start year 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes less growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+11.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+8.0%
Yearly sales growth analysts expect, extended to five years.
After inflation (Canada: IMF forecast 2.1% a year to 2030, 2.6% from 2016 to 2025) that is about +8.8% a year for the price and +5.8% for the forecasts.
Compare CES Energy Solutions Corp with another stock
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Oil & Gas Equipment & Services · 193 stocks
Beats the industry median on 7/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score69 · Top 25%
Fair Value upside+8% · Above median
Profitability
Return on equity (TTM)25% · Top 25%
Return on assets10% · Top 25%
Net margin (TTM)8% · Above median
Operating margin (TTM)8% · Above median
Growth and dividend
Revenue growth8% · Above median
Dividend yield (TTM)0.9% · Below median
Balance sheet
Debt / equity0.48× · Above median
Valuation Multiplesvs Oil & Gas Equipment & Services median · lower = cheaper
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Cite: Fair Value Calculator (2026). "CES Energy Solutions Corp Fair Value". https://www.fairvalue-calculator.com/stock/CEU
Frequently asked questions
Is CES Energy Solutions Corp (CEU) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of C$19.99 versus a price of C$18.55, about +8% upside (fairly valued).
What is the fair value of CEU?
Our model-based fair value for CES Energy Solutions Corp is C$19.99 (as of Sep 24, 2026), built from audited fundamentals. The current price: C$18.55.
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 price target for CES Energy Solutions Corp (CEU)?
Our model-based price target is the fair value of C$19.99 (as of Sep 24, 2026) from 26 valuation models. Cautious scenario C$9.94, optimistic scenario C$34.37. It is a calculation from audited fundamentals, not an analyst target.
What is the CES Energy Solutions Corp stock forecast for 2026?
Our models put fair value at C$19.99, about +8% upside versus a price of C$18.55 (fairly valued). Cautious scenario C$9.94, optimistic scenario C$34.37. The calculation is refreshed regularly with new filings.
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 Sep 24, 2026).
Does CES Energy Solutions Corp pay a dividend?
CES Energy Solutions Corp currently shows a dividend yield of about 0.93% relative to its recent price (as of Sep 24, 2026).
What growth is priced into CES Energy Solutions Corp (CEU)?
For today's price to be fair in a discounted-cash-flow model, CES Energy Solutions Corp would have to grow free cash flow by +11.1 % per year for five years (discount rate 9.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +22.9 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of CEU use?
Our models discount CES Energy Solutions Corp at 9.5 %: a base by market capitalisation (mid), damped by beta 0.98, country premium for Canada. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For CES Energy Solutions Corp that is +11.1 % per year a year over ten years, using the same discount rate (9.5 %) and the same formula as our fair value.
How much growth has CES Energy Solutions Corp (CEU) delivered so far?
Over the past 5 years revenue at CES Energy Solutions Corp grew +22.9 % a year. The price currently implies +11.1 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of CES Energy Solutions Corp (CEU) growing?
The median revenue growth in the sector is +1.8 % a year. That is the yardstick for the growth priced into CES Energy Solutions Corp (+11.1 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of CES Energy Solutions Corp (CEU)?
The free-cash-flow yield on the price is 4.83 %: that much free cash flow CES Energy Solutions Corp produces per unit of market value. When it exceeds the discount rate of our models (9.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of CES Energy Solutions Corp (CEU)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For CES Energy Solutions Corp it is C$19.99 per share (as of Sep 24, 2026), against a price of C$18.55. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is CES Energy Solutions Corp stock overvalued or undervalued in 2026?
As of Sep 24, 2026, CEU trades below its calculated fair value: price C$18.55, fair value C$19.99, a gap of about +8% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of CEU?
No. The price is what the market pays today (C$18.55); the fair value is what the company's own numbers justify (C$19.99). For CES Energy Solutions Corp the two are C$1.44 per share apart. That gap is exactly why we show both numbers side by side.
How much is CES Energy Solutions Corp worth?
The market values CES Energy Solutions Corp at about C$4.1B (market capitalisation, as of Sep 24, 2026). Per share that is C$18.55; our models calculate a fair value of C$19.99 per share.
What do the bullish and bearish scenarios say about CEU?
Our models span a range for CES Energy Solutions Corp: cautious scenario C$9.94, base C$19.99, optimistic C$34.37 per share (as of Sep 24, 2026, price C$18.55). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CEU?
CES Energy Solutions Corp trades at a price-to-earnings ratio of 19.1 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of C$19.99 is built from several models across several years. Other multiples: PEG 1.3, P/B 3.6, P/S 1.1, EV/EBITDA 10.6.
What is the PEG ratio of CEU?
The PEG ratio of CES Energy Solutions Corp is 1.28 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of CES Energy Solutions Corp (CEU)?
Balance-sheet figures for CES Energy Solutions Corp (as of Sep 24, 2026): return on equity 25.2%, debt of 0.48 per unit of equity. They feed the Quality Score of 69/100, which measures business quality independently of the share price.
How far is CEU from its 52-week high?
CES Energy Solutions Corp trades at C$18.55, about 8% below its 52-week high of C$20.09 and 117% above the low of C$8.56 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of C$19.99 is for.
Which stocks are comparable to CES Energy Solutions Corp?
From the same area (Energy) we also value SLB N.V, Baker Hughes Company, TechnipFMC plc, Halliburton Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is CES Energy Solutions Corp stock attractive at the current price?
The data as of Sep 24, 2026: price C$18.55, calculated fair value C$19.99 (+8%), Quality Score 69/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of CEU calculated?
We run CES Energy Solutions Corp through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of C$19.99, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. CES Energy Solutions Corp currently trades 8 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of CES Energy Solutions Corp (CEU)?
The closing price on Sep 23, 2026 was C$18.55. Our model-based fair value is C$19.99, about +8% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with CES Energy Solutions Corp right now?
The model range is unusually wide (C$9.94 to C$34.37). The outcome hinges heavily on assumptions, so read the point estimate with caution. The price sits close to our fair value, market and models broadly agree here, little valuation tension.
Key figures of CES Energy Solutions Corp
How large is the market capitalisation of CES Energy Solutions Corp (CEU)?
The market capitalisation of CES Energy Solutions Corp is C$4.1B (≈ $2.9B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of CES Energy Solutions Corp (CEU)?
The price-to-sales ratio of CES Energy Solutions Corp is 1.57 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of CES Energy Solutions Corp (CEU)?
Earnings per share at CES Energy Solutions Corp are C$0.9700 (price ÷ EPS = P/E 19.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of CES Energy Solutions Corp (CEU)?
The dividend yield of CES Energy Solutions Corp is 0.9% (payout 17.7%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of CES Energy Solutions Corp (CEU)?
The net margin of CES Energy Solutions Corp is 8.2% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of CES Energy Solutions Corp (CEU)?
The return on equity (ROE) of CES Energy Solutions Corp is 25.2% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of CES Energy Solutions Corp (CEU)?
On an EBIT basis the return on assets of CES Energy Solutions Corp is 13.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of CES Energy Solutions Corp (CEU)?
The operating margin of CES Energy Solutions Corp is 8.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at CES Energy Solutions Corp (CEU)?
Revenue at CES Energy Solutions Corp is growing +7.8% versus a year earlier (3y avg +9.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at CES Energy Solutions Corp (CEU)?
Earnings per share at CES Energy Solutions Corp are growing +25.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does CES Energy Solutions Corp (CEU) carry?
The net debt of CES Energy Solutions Corp is C$482M (fiscal year 2025, ≈ 2.4 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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