Asset Turnover measures how quickly a company turns over its asset through sales. It is calculated as Revenue divided by Total Assets. Source Energy Services's Revenue for the
three
months ended in Mar. 2026 was C$160.2 Mil. Source Energy Services's Total Assets for the quarter that ended in Mar. 2026 was C$615.6 Mil. Therefore, Source Energy Services's Asset Turnover for the quarter that ended in Mar. 2026 was 0.26.
Asset Turnover is linked to ROE % through Du Pont Formula. Source Energy Services's annualizedROE % for the quarter that ended in Mar. 2026 was -6.32%. It is also linked to ROA % through Du Pont Formula. Source Energy Services's annualizedROA % for the quarter that ended in Mar. 2026 was -2.14%.
Source Energy Services (TSX:SHLE) Asset Turnover Explanation
Asset Turnover is linked to ROE % through Du Pont Formula.
Source Energy Services's annulizedROE % for the quarter that ended in Mar. 2026 is
Note:
The Net Income data used here is four times the quarterly (Mar. 2026) net income data. The Revenue data used here is four times the quarterly (Mar. 2026) revenue data.
* 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.
** The ROE % used above is for Du Pont Analysis only. It is different from the defined ROE % page on our website, as here it uses Net Income instead of Net Income attributable to Common Stockholders in the calculation.
It is also linked to ROA % through Du Pont Formula:
Source Energy Services's annulizedROA % for the quarter that ended in Mar. 2026 is
Note:
The Net Income data used here is four times the quarterly (Mar. 2026) net income data. The Revenue data used here is four times the quarterly (Mar. 2026) revenue data.
* 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.
Be Aware
In the article Joining The Dark Side: Pirates, Spies and Short Sellers, James Montier reported that In their US sample covering the period 1968-2003, Cooper et al find that firms with low asset growth outperformed firms with high asset growth by an astounding 20% p.a. equally weighted. Even when controlling for market, size and style, low asset growth firms outperformed high asset growth firms by 13% p.a. Therefore a company with fast asset growth may underperform.
Therefore, it is a good sign if a company's Asset Turnover is consistent or even increases. If a company's asset grows faster than sales, its Asset Turnover will decline, which can be a warning sign.
Source Energy Services Asset Turnover Related Terms
Source Energy Services Asset Turnover Historical Data
* Premium members only.
The historical data trend for Source Energy Services's Asset Turnover 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: Asset Turnover Comparison
For the Oil & Gas Equipment & Services subindustry, Source Energy Services's Asset Turnover, along with its competitors' market caps and Asset Turnover 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 Asset Turnover vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Source Energy Services's Asset Turnover distribution charts can be found below:
* The bar in red indicates where Source Energy Services's Asset Turnover 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.
Companies with low profit margins tend to have high Asset Turnover, while those with high profit margins have low Asset Turnover. Companies in the retail industry tend to have a very high turnover ratio.
Source Energy Services (TSX:SHLE) has a Asset Turnover of 0.26 as of Mar. 2026. Asset turnover equals current-period sales over average total assets over the past two periods. View historical data on Source Energy Services and its competitors.
Is Source Energy Services' Asset Turnover too high?
Source Energy Services' current Asset Turnover is 0.26. Overall, Source Energy Services has a GF Score™ of 69/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Source Energy Services' Asset Turnover compare to SLB and BKR?
Source Energy Services' Asset Turnover of 0.26 can be compared against companies in the Oil & Gas industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Asset Turnover for an Oil & Gas company?
A good Asset Turnover depends on the Oil & Gas industry context. However, Asset Turnover 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 Asset Turnover mean?
A high Asset Turnover can signal that a stock is expensive relative to its fundamentals. Asset turnover equals current-period sales over average total assets over the past two periods. View historical data on Source Energy Services and its competitors. Source Energy Services's current Asset Turnover is 0.26. 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$12.84, compared to a current price of C$13.62 — trading 6.1% above its estimated fair value. The current Asset Turnover is 0.26. 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 Asset Turnover calculated?
Asset Turnover is calculated from a company's financial statements. For Source Energy Services (TSX:SHLE), the current Asset Turnover is 0.26 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$13.62 is trading 6.1% above its estimated GF Value™ of C$12.84.
GuruFocus considers Source Energy Services to be Fairly Valued.
Key valuation signals for TSX:SHLE:
Asset Turnover: 0.26
GF Value™: C$12.84 vs. price of C$13.62 (6.1% 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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