Step Energy Services Ltd
TSX:STEP

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Step Energy Services Ltd
TSX:STEP
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Price: 4.42 CAD 4.37% Market Closed
Market Cap: 318.2m CAD

Relative Value

The Relative Value of one STEP stock under the Base Case scenario is 9.08 CAD. Compared to the current market price of 4.42 CAD, Step Energy Services Ltd is Undervalued by 51%.

Relative Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

STEP Relative Value
Base Case
9.08 CAD
Undervaluation 51%
Relative Value
Price
Worst Case
Base Case
Best Case

Valuation Multiples

vs History
31
vs Industry
76
Median 3Y
0.3
Median 5Y
0.3
Industry
2
Forward
0.4
vs History
vs Industry
2
Median 3Y
4.2
Median 5Y
2.2
Industry
17.3
Forward
7.6
vs History
30
vs Industry
29
Median 3Y
2.1
Median 5Y
2.1
Industry
10.5
vs History
12
vs Industry
9
Median 3Y
-21.3
Median 5Y
-10.4
Industry
13.4
vs History
46
vs Industry
48
Median 3Y
0.8
Median 5Y
0.8
Industry
1.6
vs History
50
vs Industry
74
Median 3Y
0.4
Median 5Y
0.4
Industry
3
Forward
0.5
vs History
22
vs Industry
53
Median 3Y
3.5
Median 5Y
2.9
Industry
6.5
vs History
47
vs Industry
30
Median 3Y
2.4
Median 5Y
3.8
Industry
10.8
Forward
2.8
vs History
7
vs Industry
25
Median 3Y
5.3
Median 5Y
4
Industry
12.9
Forward
5.9
vs History
52
vs Industry
28
Median 3Y
2.8
Median 5Y
3.5
Industry
11.2
vs History
26
vs Industry
18
Median 3Y
7.8
Median 5Y
7.5
Industry
12
vs History
44
vs Industry
47
Median 3Y
0.8
Median 5Y
0.7
Industry
1.5

Multiples Across Competitors

STEP Competitors Multiples
Step Energy Services Ltd Competitors

Market Cap P/S P/E EV/EBITDA EV/EBIT
CA
Step Energy Services Ltd
TSX:STEP
318.4m CAD 0.3 -20.6 4.2 66.1
US
Schlumberger NV
NYSE:SLB
48.5B USD 1.3 11.6 6.2 8.7
US
Baker Hughes Co
NASDAQ:BKR
39.2B USD 1.4 13.4 9.7 13.2
LU
Tenaris SA
MIL:TEN
17.4B EUR 1.7 11.3 6.3 8.2
US
Halliburton Co
NYSE:HAL
18.5B USD 0.8 8.8 4.9 6.4
UK
TechnipFMC PLC
NYSE:FTI
14.6B USD 1.6 17.6 9.5 12.9
FR
Technip Energies NV
PAR:TE
6.3B EUR 0.6 10.8 5.7 5.7
CN
CNOOC Energy Technology & Services Ltd
SSE:600968
42.1B CNY 0.8 11.2 7 7
UK
Subsea 7 SA
OSE:SUBC
58.2B NOK 0.8 29.9 5.5 12.9
IT
Saipem SpA
MIL:SPM
4.6B EUR 0.3 12.1 2.8 5.3
US
ChampionX Corp
NASDAQ:CHX
5B USD 1.4 17.1 6.7 9.8
P/E Multiple
Earnings Growth PEG
CA
Step Energy Services Ltd
TSX:STEP
Average P/E: 14.4
Negative Multiple: -20.6
216%
N/A
US
Schlumberger NV
NYSE:SLB
11.6
6%
1.9
US
B
Baker Hughes Co
NASDAQ:BKR
13.4
1%
13.4
LU
Tenaris SA
MIL:TEN
11.3
5%
2.3
US
Halliburton Co
NYSE:HAL
8.8
1%
8.8
UK
TechnipFMC PLC
NYSE:FTI
17.6
14%
1.3
FR
Technip Energies NV
PAR:TE
10.8
12%
0.9
CN
CNOOC Energy Technology & Services Ltd
SSE:600968
11.2
15%
0.7
UK
Subsea 7 SA
OSE:SUBC
29.9
43%
0.7
IT
Saipem SpA
MIL:SPM
12.1
33%
0.4
US
ChampionX Corp
NASDAQ:CHX
17.1
10%
1.7
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
CA
Step Energy Services Ltd
TSX:STEP
Average EV/EBITDA: 6.2
4.2
0%
N/A
US
Schlumberger NV
NYSE:SLB
6.2
3%
2.1
US
B
Baker Hughes Co
NASDAQ:BKR
9.7
6%
1.6
LU
Tenaris SA
MIL:TEN
6.3
-4%
N/A
US
Halliburton Co
NYSE:HAL
4.9
-1%
N/A
UK
TechnipFMC PLC
NYSE:FTI
9.5
15%
0.6
FR
Technip Energies NV
PAR:TE
5.7
13%
0.4
CN
CNOOC Energy Technology & Services Ltd
SSE:600968
7
19%
0.4
UK
Subsea 7 SA
OSE:SUBC
5.5
15%
0.4
IT
Saipem SpA
MIL:SPM
2.8
13%
0.2
US
ChampionX Corp
NASDAQ:CHX
6.7
1%
6.7