Seche Environnement SA SECVY

IndustrialsProfessional & Commercial ServicesFrance

Last close 15.66 USD on Nov 1, 2026, −10.5% year to date

Quant rating

Quant rating C Rank 254 of 418 in Industrials

Growth C 250 of 418
Valuation A 61 of 418
Quality D 350 of 418
Revisions B 108 of 418
Momentum D 354 of 418

Wall Street consensus Buy (2.25)Average target 116.95 USD +646.7%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 660M
Enterprise value: 1.7B
52-week range: 15.62 – 19.80
3-year range: 15.08 – 25.30
Dividend yield: 1.75%
Beta (5 years): –
Shares outstanding: 7.9M
Next earnings: Mar 15, 2027

About the company

Seche Environnement SA is France-based company engaged in the collection, storage and treatment of non-radioactive waste. The Company accepts and treats various categories of waste, such as dispersed hazardous waste, hazardous and non-hazardous household waste, medical waste, polluted soil and waste from electrical and electronic equipment. Seche Environnement SA operates mainly in Europe through subsidiaries, including Tredi SA, SVO Eco-industries, DRIMM, Opale Environnement, Bearn Environnement, Alcea, Valaudia, Triadis Services and Speichim Processing, among others. It provides services to industrial clients and local authorities. The Company also provides eco-friendly waste decontamination, dismantling, removal, and rehabilitation services. The Company operates through Solarca and HPS Nuclear Services, a specialist in radiation protection.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	1,472	1,232	1,202	1,041	898	–
Revenue growth	19.5%	2.6%	15.4%	15.9%	9.3%	12.4%
EPS (basic, normalized)	3.22	4.93	6.70	6.11	3.95	–
EPS growth	−34.6%	−26.4%	9.7%	54.6%	–	–
Gross margin	87.2%	87.1%	86.5%	85.5%	87.6%	86.8%
Net margin	1.7%	3.0%	4.4%	4.6%	3.6%	3.5%
ROE	4.2%	10.1%	14.8%	15.4%	10.9%	11.1%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Current ratio	–
Long-term debt (mil)	–
Net debt (mil)	–
Total equity (mil)	–
Net debt / equity	–
Net debt / EBITDA	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	1,472	+19.5%	1.2x	262	+4.8%	6.6x	3.22	−34.6%	4.9x
2026	1,490	+1.2%	1.2x	291	+11.1%	5.9x	4.38	+35.9%	3.6x
2027	1,582	+6.2%	1.1x	321	+10.1%	5.4x	6.98	+59.2%	2.2x
2028	1,644	+3.9%	1.0x	344	+7.2%	5.0x	8.86	+27.0%	1.8x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	1,490	−0.2%	−0.7%	−1.6%	4.38	−7.6%	−7.3%	−16.1%
2027	1,582	−0.2%	−1.6%	−3.7%	6.98	+1.7%	−1.1%	−2.8%
2028	1,644	−0.2%	+1.6%	−1.6%	8.86	+0.3%	+5.1%	+1.8%

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
	FQ-9	FQ-8	FQ-7	FQ-6	FQ-5	FQ-4	FQ-3	FQ-2	FQ-1	FQ0
Sales reported (mil)	242	–	–	–	–	–	–	–	–	–
Sales mean (mil)	242	–	–	–	–	–	–	–	277	–
Surprise	0.0%	–	–	–	–	–	–	–	–	–
EPS reported	–	–	–	–	–	–	–	–	–	–
EPS mean	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–

FQ0 is the most recent reported quarter, FQ-1 the one before, and so on.

Peer comparison Professional & Commercial Services

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
SECVY Seche Environnement SA	660M	–	1.7%	0.89x	3.6x	2.2x	5.9x	5.4x
CGY Calian Group Ltd	684M	1.81x	2.7%	2.81x	19.6x	16.7x	11.4x	10.4x
PCT PureCycle Technologies, Inc.	675M	−4.10x	−2,185.1%	2.04x	−2.4x	−4.5x	−20.3x	−194.5x
PCTTU PureCycle Technologies, Inc.	675M	−4.10x	−2,185.1%	2.04x	−2.8x	−5.4x	−20.3x	−194.5x
CASS Cass Information Systems Inc	674M	–	15.0%	2.98x	17.8x	14.9x	–	–
OIO Oio Group	661M	–	−81.6%	1.94x	–	–	–	–
Mean		−2.13x	−738.7%	2.12x	7.2x	4.8x	−5.8x	−93.3x
Median		−4.10x	−40.0%	2.04x	3.6x	2.2x	−7.2x	−94.6x

Technical analysis

1M−14.4%
3M−13.9%
1Y−10.5%
3Y−24.7%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Seche Environnement SA, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	1,472	1,232	1,202	1,041	898	822
Cost of revenue	188	159	163	151	111	104
Gross profit	1,284	1,073	1,039	890	787	718
Selling, general & administrative expenses	589	495	464	397	352	339
Research & development	–	–	–	–	–	–
Depreciation/amortization	145	115	108	98.1	94.4	94.2
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	−0.3	11.0	8.9	9.7	8.7	−0.3
Other operating expenses	455	357	357	297	259	231
Operating income	95.7	95.0	101	88.4	73.1	54.0
Net interest income (expense)	−42.8	−33.5	−25.9	−18.4	−21.3	−20.8
Gain (loss) on sale of assets	2.3	0	0	0	−0.3	–
Other non-operating income (expense)	−9.0	−3.1	1.3	3.3	−0.9	−4.2
Net income before taxes	46.2	58.3	76.3	73.2	50.7	29.1
Provision for taxes	11.1	18.9	19.7	20.6	16.0	10.3
Minority interest	−11.6	−2.8	−2.4	−3.5	−1.4	−0.1
Equity in affiliates	1.7	0.2	−1.5	−1.4	−1.0	−1.8
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	25.2	36.8	52.8	47.7	32.3	16.9
Extraordinary items	–	–	–	–	–	0
Net income	25.2	36.8	52.8	47.7	32.3	16.9
EBIT, normalized	95.4	105	110	98.1	81.8	53.8
EBITDA, normalized	241	220	225	196	174	148
Basic EPS, normalized	3.22	4.93	6.70	6.11	3.95	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Seche Environnement SA, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	831	180	182	139	199	130
Receivables	436	325	396	304	251	247
Total inventory	37.1	33.3	29.6	27.4	19.7	18.3
Prepaid expenses	21.2	–	2.4	2.7	1.6	1.6
Other current assets	0.4	80.7	0	0	0	0
Total current assets	1,325	619	611	472	472	396
Property, plant & equipment	672	590	493	438	392	383
Goodwill	843	807	480	424	369	377
Intangibles	117	60.3	70.1	80.3	89.5	98.4
Long-term investments	13.1	64.8	52.4	1.1	0.1	0.2
Note receivable	61.8	–	–	34.7	12.1	8.1
Other long-term assets	32.7	29.9	43.3	53.1	58.4	73.2
Total assets	3,065	2,171	1,750	1,503	1,392	1,337
Liabilities
Accounts payable	254	226	215	177	156	141
Payable/accrued	–	–	–	–	–	–
Accrued expenses	133	–	–	97.8	79.5	83.2
Short-term debt	5.3	0	3.4	2.9	8.7	8.6
Current portion of long-term debt	185	345	135	114	61.5	70.5
Other current liabilities	73.4	199	208	65.1	52.6	66.5
Total current liabilities	651	770	562	456	358	369
Long-term debt	1,281	706	728	634	663	596
Minority interest	247	234	8.8	7.8	6.2	5.3
Other liabilities	105	83.8	77.7	73.0	58.7	57.6
Total liabilities	2,283	1,794	1,377	1,171	1,086	1,028
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	1.8	1.6	1.7	1.7	1.8	1.9
Additional paid-in capital	87.0	76.7	81.7	79.3	84.2	90.5
Retained earnings (accumulated deficit)	693	298	290	267	241	236
Treasury stock	–	–	–	–	–	–
Other equity	0	0	0	−16.3	−20.9	−19.1
Total equity	782	377	373	332	306	309
Total liabilities & shareholders' equity	3,065	2,171	1,750	1,503	1,392	1,337

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Seche Environnement SA, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	36.8	39.5	55.2	51.2	33.6	17.0
Depreciation, depletion & amortization	145	124	116	104	99.1	93.1
Deferred taxes	−3.3	2.8	6.4	4.7	2.5	0.2
Non-cash items	69.4	63.5	50.6	42.7	38.7	37.8
Changes in working capital	18.1	−21.6	−21.2	−43.6	−12.3	0.1
Cash from operations	266	208	207	159	162	148
Investing activities
Capital expenditures	−129	−87.7	−101	−107	−102	−81.1
Other investing cash flows	−16.0	−227	−84.9	−95.9	−31.9	−8.4
Cash from investing	−145	−315	−186	−203	−134	−89.5
Financing activities
Financing cash flow items	−56.2	−30.8	−23.8	−19.3	−21.0	−24.0
Cash dividends paid	−10.9	−9.6	−9.5	−8.4	−8.4	−9.1
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	581	150	54.0	22.1	82.8	−3.7
Cash from financing	514	110	20.7	−5.6	53.4	−36.7
Foreign exchange effects	−2.1	1.1	−1.9	0.1	0.1	−0.8
Net change in cash	632	4.3	39.4	−49.7	81.5	21.3
Free cash flow	137	121	105	51.6	59.9	67.1

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.