Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Source Energy Services's annualized net income for the quarter that ended in Mar. 2026 was C$-13.2 Mil. Source Energy Services's average shareholder tangible equity for the quarter that ended in Mar. 2026 was C$208.7 Mil. Therefore, Source Energy Services's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was -6.32%.
The historical rank and industry rank for Source Energy Services's Return-on-Tangible-Equity or its related term are showing as below:
TSX:SHLE'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -155.76 Med: -7.62 Max: 191.48
Current: 2.92
During the past 12 years, Source Energy Services's highest Return-on-Tangible-Equity was 191.48%. The lowest was -155.76%. And the median was -7.62%.
TSX:SHLE's Return-on-Tangible-Equity is ranked worse than 60.28% of 944
companies
in the Oil & Gas industry
Industry Median: 6.73
vs TSX:SHLE: 2.92
Source Energy Services (TSX:SHLE) Return-on-Tangible-Equity Explanation
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Source Energy Services Return-on-Tangible-Equity Related Terms
Source Energy Services Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Source Energy Services's Return-on-Tangible-Equity 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.
Source Energy Services Return-on-Tangible-Equity Chart
TSX:SHLE vs SLB, BKR, HAL: Return-on-Tangible-Equity Comparison
For the Oil & Gas Equipment & Services subindustry, Source Energy Services's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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 Return-on-Tangible-Equity vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Source Energy Services's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Source Energy Services's Return-on-Tangible-Equity 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 Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of -6.32% mean?
Source Energy Services (TSX:SHLE) has a Return-on-Tangible-Equity of -6.32% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Source Energy Services and its competitors. According to the industry distribution chart, Source Energy Services ranks #569 out of 944 companies in the Oil & Gas industry, placing it in the top 60.3%.
Is Source Energy Services' Return-on-Tangible-Equity too high?
Source Energy Services' current Return-on-Tangible-Equity is -6.32%. Based on the distribution chart, Source Energy Services ranks #569 out of 944 companies in the Oil & Gas industry, which is below the industry midpoint. Overall, Source Energy Services has a GF Score™ of 69/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Source Energy Services' Return-on-Tangible-Equity compare to SLB and BKR?
According to the Oil & Gas industry distribution chart, Source Energy Services ranks #569 out of 944 companies for Return-on-Tangible-Equity. This places Source Energy Services in the lower half of its industry. The industry median Return-on-Tangible-Equity is 6.73. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Equity for an Oil & Gas company?
The median Return-on-Tangible-Equity among Oil & Gas companies is 6.73, based on 944 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Source Energy Services and its competitors. For the Oil & Gas industry, the median Return-on-Tangible-Equity is 6.73 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Source Energy Services's current Return-on-Tangible-Equity is -6.32%. 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 Modestly Overvalued. The stock's GF Value™ is C$12.65, compared to a current price of C$14.19 — trading 12.2% above its estimated fair value. The current Return-on-Tangible-Equity is -6.32%. Source Energy Services' overall GF Score™ is 69/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Source Energy Services (TSX:SHLE), the current Return-on-Tangible-Equity is -6.32% 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$14.19 is trading 12.2% above its estimated GF Value™ of C$12.65.
GuruFocus considers Source Energy Services to be Modestly Overvalued.
Key valuation signals for TSX:SHLE:
Return-on-Tangible-Equity: -6.32%
GF Value™: C$12.65 vs. price of C$14.19 (12.2% above fair value)
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.
69GF Score
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