TCW Stock Analysis: Trican Well Service | TO
Oil & Gas Equipment & Services | TO, Canada | Market Cap: 1.221m CAD | 12M Return: 17.1% | CA8959451037 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 4.96M
EPS Trend: -39.6%
Qual. Beats: 0
Rev. Trend: 88.9%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.8 years of data, until 10/2026
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, ≥40 worth a closer look and ≥60 is strong.
Trican Well Service Ltd. (TSX: TCW) is a Calgary-based Canadian oilfield services company supporting drilling, well completion, stimulation, and reworking. Its offerings include hydraulic fracturing, cementing, acidizing, coiled tubing, nitrogen services, technical and laboratory work, and related equipment, chemicals, and proppants.
Oilfield service providers supply specialized crews, equipment, and materials to exploration and production companies. Demand for these services generally depends on customer drilling and completion activity.
- Canadian frac demand tracks producer budgets, oil prices, and gas activity
- High fleet utilization and pricing support hydraulic fracturing margins
- Free cash flow funds dividends, buybacks, and fleet investment
| Net Income: 107.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.20 > 0.02 and ΔFCF/TA 10.83 > 1.0 |
| NWC/Revenue: 13.44% < 20% (prev 20.78%; Δ -7.33% < -1%) |
| CFO/TA 0.28 > 3% & CFO 285.3m > Net Income 107.9m |
| Net Debt (107.8m) to EBITDA (270.1m): 0.40 < 3 |
| Current Ratio: 1.90 > 1.5 & < 3 |
| Outstanding Shares: last quarter (208.1m) vs 12m ago 7.44% < -2% |
| Gross Margin: 19.83% > 18% (prev 19.31%; Δ 0.52% > 0.5%) |
| Asset Turnover: 116.6% > 50% (prev 100.5%; Δ 16.03% > 0%) |
| Interest Coverage Ratio: 30.26 > 6 (EBIT TTM 163.2m / Interest Expense TTM 5.39m) |
| A: 0.16 (Total Current Assets 341.5m - Total Current Liabilities 179.4m) / Total Assets 1.03b |
| B: -0.18 (Retained Earnings -181.5m / Total Assets 1.03b) |
| C: 0.16 (EBIT TTM 163.2m / Avg Total Assets 1.03b) |
| D: 1.96 (Book Value of Equity 678.9m / Total Liabilities 346.6m) |
| Altman-Z'' = 3.58 = A |
| DSRI: 0.81 (Receivables 268.4m/286.8m, Revenue 1.21b/1.05b) |
| GMI: 0.97 (GM 19.31% / 19.83%) |
| AQI: 0.94 (AQ_t 0.15 / AQ_t-1 0.15) |
| SGI: 1.15 (Revenue 1.21b / 1.05b) |
| TATA: -0.17 (NI 107.9m - CFO 285.3m) / TA 1.03b) |
| Beneish M = -3.15 (Cap -4..+1) = AA |
As of November 12, 2026, the stock is trading at CAD 6.35 with a total of 403,778 shares traded. Over the past week, the price has changed by +2.92%, over one month by -3.05%, over three months by +2.67% and over the past year by +17.06%.
Current recommended Stop Loss: 5.90 (which is 7.1% or 1.7 ATR below the current price).
Trican Well Service has no consensus analysts rating.
P/E Trailing = 11.5962
P/E Forward = 9.9206
P/S = 1.0124
P/B = 1.9235
P/EG = 0.3473
Revenue TTM = 1.21b CAD
EBIT TTM = 163.2m CAD
EBITDA TTM = 270.1m CAD
Long Term Debt = 72.0m CAD (from longTermDebt, last quarter)
Short Term Debt = 7.43m CAD (from shortTermDebt, last quarter)
Debt = 130.1m CAD (from shortLongTermDebtTotal, last quarter) + Leases 29.1m
Net Debt = 107.8m CAD (calculated: Debt 130.1m - CCE 22.4m)
Enterprise Value = 1.33b CAD (1.22b + Debt 130.1m - CCE 22.4m)
Interest Coverage Ratio = 30.26 (Ebit TTM 163.2m / Interest Expense TTM 5.39m)
EV/FCF = 6.50x (Enterprise Value 1.33b / FCF TTM 204.3m)
FCF Yield = 15.38% (FCF TTM 204.3m / Enterprise Value 1.33b)
FCF Margin = 16.94% (FCF TTM 204.3m / Revenue TTM 1.21b)
Net Margin = 8.95% (Net Income TTM 107.9m / Revenue TTM 1.21b)
Gross Margin = 19.83% ((Revenue TTM 1.21b - Cost of Revenue TTM 966.8m) / Revenue TTM)
Gross Margin QoQ = 29.46% (prev 6.29%)
Tobins Q-Ratio = 1.30 (Enterprise Value 1.33b / Total Assets 1.03b)
Interest Expense / Debt = 4.14% (Interest Expense 5.39m / Debt 130.1m)
Taxrate = 22.62% (31.5m / 139.4m)
NOPAT = 126.3m (EBIT 163.2m * (1 - 22.62%))
Current Ratio = 1.90 (Total Current Assets 341.5m / Total Current Liabilities 179.4m)
Debt / Equity = 0.19 (Debt 130.1m / totalStockholderEquity, last quarter 678.9m)
Debt / EBITDA = 0.40 (Net Debt 107.8m / EBITDA 270.1m)
Debt / FCF = 0.53 (Net Debt 107.8m / FCF TTM 204.3m)
Total Stockholder Equity = 691.2m (last 4 quarters mean from totalStockholderEquity)
RoA = 10.43% (Net Income 107.9m / Total Assets 1.03b)
RoE = 15.61% (Net Income TTM 107.9m / Total Stockholder Equity 691.2m)
RoCE = 21.38% (EBIT 163.2m / Capital Employed (Equity 691.2m + L.T.Debt 72.0m))
RoIC = 15.19% (NOPAT 126.3m / Invested Capital 831.2m)
WACC = 6.92% (E(1.22b)/V(1.35b) * Re(7.32%) + D(130.1m)/V(1.35b) * Rd(4.14%) * (1-Tc(0.23)))
Discount Rate = 7.32% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 45.36 | Cagr: 0.19%
[DCF] Terminal Value 77.97% ; FCFF base≈160.5m ; Y1≈184.0m ; Y5≈270.8m
[DCF] Fair Price = 19.59 (EV 4.07b - Net Debt 107.8m = Equity 3.97b / Shares 202.5m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: -39.60 | EPS CAGR: -3.47% | SUE: 0.75 | # QB: 0
Revenue Correlation: 88.89 | Revenue CAGR: 9.15% | SUE: -0.44 | # QB: 0
EPS current Quarter (2027-03-31): EPS=0.22 | Chg30d=+3.14% | Revisions=+25% | Analysts=3
EPS current Year (2026-12-31): EPS=0.54 | Chg30d=+2.01% | Revisions=+0% | GrowthEPS=-4.6% | GrowthRev=+10.3%
EPS next Year (2027-12-31): EPS=0.65 | Chg30d=-0.26% | Revisions=-38% | GrowthEPS=+18.6% | GrowthRev=+5.5%
[Analyst] Revisions Ratio: -15% (up=4, down=6)