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A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for Source Energy Services's Debt-to-EBITDA or its related term are showing as below:
TSX:SHLE'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: -12.3 Med: 2.38 Max: 6.11
Current: 2.86
During the past 12 years, the highest Debt-to-EBITDA Ratio of Source Energy Services was 6.11. The lowest was -12.30. And the median was 2.38.
TSX:SHLE's Debt-to-EBITDA is ranked worse than 62.84% of 705
companies
in the Oil & Gas industry
Industry Median: 2.01
vs TSX:SHLE: 2.86
Source Energy Services (TSX:SHLE) Debt-to-EBITDA Explanation
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
Source Energy Services Debt-to-EBITDA Related Terms
Source Energy Services Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for Source Energy Services's Debt-to-EBITDA can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
TSX:SHLE vs SLB, BKR, HAL: Debt-to-EBITDA Comparison
For the Oil & Gas Equipment & Services subindustry, Source Energy Services's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Source Energy Services Debt-to-EBITDA vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Source Energy Services's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Source Energy Services's Debt-to-EBITDA falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is four times the quarterly (Mar. 2026) EBITDA data.
Source Energy Services (TSX:SHLE) has a Debt-to-EBITDA of 3.28 as of Mar. 2026. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Source Energy Services. This is 38% above median its historical median of 2.38. According to the industry distribution chart, Source Energy Services ranks #443 out of 705 companies in the Oil & Gas industry, placing it in the top 62.8%.
Is Source Energy Services' Debt-to-EBITDA too high?
Source Energy Services' current Debt-to-EBITDA of 3.28 is 38% above median its 10-year median of 2.38. The Oil & Gas industry median Debt-to-EBITDA is 2.01. Source Energy Services' value of 3.28 is 63.2% above this industry median. Based on the distribution chart, Source Energy Services ranks #443 out of 705 companies in the Oil & Gas industry, which is below the industry midpoint. Overall, Source Energy Services has a GF Score™ of 70/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Source Energy Services' Debt-to-EBITDA compare to SLB and BKR?
According to the Oil & Gas industry distribution chart, Source Energy Services ranks #443 out of 705 companies for Debt-to-EBITDA. This places Source Energy Services in the lower half of its industry. The industry median Debt-to-EBITDA is 2.01. Source Energy Services' value of 3.28 is 63.2% above this benchmark. While the company's 10-year median is 2.38 vs. the industry median of 2.01, Source Energy Services has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-EBITDA for an Oil & Gas company?
The median Debt-to-EBITDA among Oil & Gas companies is 2.01, based on 705 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Source Energy Services's current Debt-to-EBITDA of 3.28 is 63.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Source Energy Services. For the Oil & Gas industry, the median Debt-to-EBITDA is 2.01 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Source Energy Services's current Debt-to-EBITDA is 3.28, which is 38% above median its own 10-year median of 2.38. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Source Energy Services stock overvalued right now?
Based on GuruFocus' analysis, Source Energy Services (TSX:SHLE) is currently considered Fairly Valued. The stock's GF Value™ is C$12.59, compared to a current price of C$12.66 — trading 0.6% above its estimated fair value. The current Debt-to-EBITDA is 3.28, which is 38% above median its 10-year median of 2.38 and 63.2% above the Oil & Gas industry median of 2.01. Source Energy Services' overall GF Score™ is 70/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For Source Energy Services (TSX:SHLE), the current Debt-to-EBITDA is 3.28 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Source Energy Services (TSX:SHLE) Overvalued in 2026?
Based on GuruFocus' analysis, Source Energy Services stock appears to be overvalued.
The current stock price of C$12.66 is trading 0.6% above its estimated GF Value™ of C$12.59.
GuruFocus considers Source Energy Services to be Fairly Valued.
Key valuation signals for TSX:SHLE:
Debt-to-EBITDA: 3.28 (38% above median its 10-year median of 2.38)
GF Value™: C$12.59 vs. price of C$12.66 (0.6% above fair value)
Industry Position: 63.2% above the Oil & Gas median (#443 of 705)
No single metric tells the full story. See the TSX:SHLE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Source Energy Services Ltd is a Canada-based company engaged in the integrated production and distribution of frac sand as well as the distribution of other bulk oil and gas well completion materials that aren't produced by Source. It provides customers with an end-to-end solution for frac sand supported by its Wisconsin, United States, and Peace River, Alberta, Canada mines and processing facilities, its Western Canadian terminal network, and its last-mile logistics capabilities, including its trucking operations, and Sahara, a proprietary well site mobile sand storage and handling system. The geographical segments of the group are the USA Operations and Canadian Operations.
70GF Score
Get the complete analysis for TSX:SHLE
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