SECURE Waste Infrastructure Corp.
Financial Statements (IFRS) · Amounts in CAD
Income Statement
Balance Sheet
Cash Flow
| Line Item | Q4 2025Dec 31, 2025 | Q2 2025Jun 30, 2025 | Q1 2025Mar 31, 2025 | Q4 2024Dec 31, 2024 | Q3 2024Sep 30, 2024 |
|---|---|---|---|---|---|
| Total Revenue | -6.2B | 2.5B | 2.7B | 2.6B | 2.6B |
| Operating Revenue | -6.2B | 2.5B | 2.7B | 2.6B | 2.6B |
| Cost Of Revenue | -6.3B | 2.4B | 2.6B | 2.5B | 2.5B |
| Gross Profit | 112.0M | 90.0M | 108.0M | 98.0M | 115.0M |
| Selling General And Administration | 26.0M | 27.0M | 39.0M | 31.0M | 37.0M |
| General And Administrative Expense | 26.0M | 27.0M | 39.0M | 31.0M | 37.0M |
| Depreciation And Amortization In Income Statement | 2.0M | 2.0M | 2.0M | 2.0M | 2.0M |
| Other Operating Expenses | 2.0M | 2.0M | 2.0M | 2.0M | 2.0M |
| Operating Expense | 30.0M | 31.0M | 43.0M | 35.0M | 41.0M |
| Operating Income | 82.0M | 59.0M | 65.0M | 63.0M | 74.0M |
| EBIT | 88.0M | 59.0M | 61.0M | 56.0M | 74.0M |
| Interest Expense | 18.0M | 17.0M | 11.0M | 10.0M | 10.0M |
| Interest Expense Non Operating | 18.0M | 17.0M | 11.0M | 10.0M | 10.0M |
| Net Interest Income | -19.0M | -17.0M | -12.0M | -10.0M | -10.0M |
| Other Income Expense | 7.0M | -- | -3.0M | -7.0M | -- |
| Other Non Operating Income Expenses | 8.0M | 1.0M | 1.0M | -- | -- |
| Special Income Charges | -1.0M | -1.0M | -4.0M | -22.0M | 0.00 |
| Restructuring And Mergern Acquisition | 1.0M | 1.0M | 4.0M | 2.0M | 0.00 |
| Pretax Income | 70.0M | 42.0M | 50.0M | 46.0M | 64.0M |
| Tax Provision | 17.0M | 11.0M | 12.0M | 12.0M | -30.0M |
| Tax Effect Of Unusual Items | -242,857 | -261,905 | -960,000 | -5.7M | 0.00 |
| Net Income From Continuing And Discontinued Operation | 53.0M | 31.0M | 38.0M | 34.0M | 94.0M |
| Net Income From Continuing Operation Net Minority Interest | 53.0M | 31.0M | 38.0M | 34.0M | 94.0M |
| Net Income Including Noncontrolling Interests | 53.0M | 31.0M | 38.0M | 34.0M | 94.0M |
| Net Income Common Stockholders | 53.0M | 31.0M | 38.0M | 34.0M | 94.0M |
| Net Income | 53.0M | 31.0M | 38.0M | 34.0M | 94.0M |
| EBITDA | 136.0M | 105.0M | 106.0M | 98.0M | 119.0M |
| Normalized EBITDA | 137.0M | 106.0M | 110.0M | 120.0M | 119.0M |
| Reconciled Depreciation | 48.0M | 46.0M | 45.0M | 42.0M | 45.0M |
| Basic EPS | -- | 0.14 | 0.16 | -- | 0.39 |
| Diluted EPS | -- | 0.14 | 0.16 | -- | 0.39 |
| Basic Average Shares | -- | 224.0M | 232.2M | -- | 239.3M |
| Diluted Average Shares | -- | 226.7M | 236.0M | -- | 243.1M |
| Total Unusual Items | -1.0M | -1.0M | -4.0M | -22.0M | 0.00 |
| Total Unusual Items Excluding Goodwill | -1.0M | -1.0M | -4.0M | -22.0M | 0.00 |
| Tax Rate For Calcs | 0.24 | 0.26 | 0.24 | 0.26 | 0.15 |
| Normalized Income | 53.8M | 31.7M | 41.0M | 50.3M | 94.0M |
| Amortization | 1.0M | 1.0M | 0.00 | 1.0M | 1.0M |
| Amortization Of Intangibles Income Statement | 1.0M | 1.0M | 0.00 | 1.0M | 1.0M |
| Depletion Income Statement | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Depreciation Amortization Depletion Income Statement | 2.0M | 2.0M | 2.0M | 2.0M | 2.0M |
| Depreciation Income Statement | 1.0M | 1.0M | 2.0M | 1.0M | 1.0M |
| Diluted NI Availto Com Stockholders | 53.0M | 31.0M | 38.0M | 34.0M | 94.0M |
| Gain On Sale Of Business | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Income Continuous Operations | 53.0M | 31.0M | 38.0M | 34.0M | 94.0M |
| Net Non Operating Interest Income Expense | -19.0M | -17.0M | -12.0M | -10.0M | -10.0M |
| Other Gand A | 8.0M | 7.0M | 11.0M | 6.0M | 11.0M |
| Reconciled Cost Of Revenue | -6.3B | 2.3B | 2.5B | 2.4B | 2.5B |
| Salaries And Wages | 18.0M | 20.0M | 28.0M | 25.0M | 26.0M |
| Total Expenses | -6.3B | 2.4B | 2.6B | 2.5B | 2.5B |
| Total Operating Income As Reported | 83.0M | 60.0M | 63.0M | 63.0M | 76.0M |
| Total Other Finance Cost | 1.0M | -- | 1.0M | 0.00 | -- |
| Line Item | Q4 2025Dec 31, 2025 | Q2 2025Jun 30, 2025 | Q1 2025Mar 31, 2025 | Q4 2024Dec 31, 2024 | Q3 2024Sep 30, 2024 |
|---|---|---|---|---|---|
| Cash And Cash Equivalents | 22.0M | 31.0M | 20.0M | 26.0M | 19.0M |
| Cash Cash Equivalents And Short Term Investments | 22.0M | 31.0M | 20.0M | 26.0M | 19.0M |
| Cash Financial | 22.0M | 31.0M | 20.0M | 26.0M | -- |
| Accounts Receivable | 452.0M | 486.0M | 446.0M | 504.0M | 430.0M |
| Receivables | 452.0M | 486.0M | 446.0M | 504.0M | 430.0M |
| Inventory | 156.0M | 143.0M | 146.0M | 143.0M | 122.0M |
| Other Current Assets | 13.0M | 20.0M | 17.0M | 15.0M | 14.0M |
| Current Assets | 643.0M | 680.0M | 629.0M | 688.0M | 585.0M |
| Gross PPE | 3.0B | 1.4B | 1.4B | 2.6B | 1.3B |
| Accumulated Depreciation | -1.5B | -- | -- | -1.3B | -- |
| Net PPE | 1.5B | 1.4B | 1.4B | 1.3B | 1.3B |
| Goodwill | 218.0M | 218.0M | 218.0M | 204.0M | 204.0M |
| Goodwill And Other Intangible Assets | 328.0M | 335.0M | 340.0M | 291.0M | 293.0M |
| Other Intangible Assets | 110.0M | 117.0M | 122.0M | 87.0M | 89.0M |
| Other Non Current Assets | 39.0M | 31.0M | 30.0M | 41.0M | 42.0M |
| Total Non Current Assets | 1.9B | 1.8B | 1.8B | 1.6B | 1.6B |
| Total Assets | 2.5B | 2.5B | 2.4B | 2.3B | 2.2B |
| Current Debt And Capital Lease Obligation | 32.0M | 30.0M | 30.0M | 26.0M | 26.0M |
| Accounts Payable | 464.0M | 465.0M | 494.0M | 553.0M | 460.0M |
| Payables | 471.0M | 471.0M | 495.0M | 567.0M | 479.0M |
| Payables And Accrued Expenses | 471.0M | 471.0M | 495.0M | 567.0M | 479.0M |
| Current Deferred Revenue | 0.00 | 8.0M | 83.0M | 70.0M | -- |
| Other Current Liabilities | 12.0M | 4.0M | 4.0M | 3.0M | 4.0M |
| Current Liabilities | 530.0M | 523.0M | 627.0M | 681.0M | 517.0M |
| Long Term Debt | 859.0M | 843.0M | 549.0M | 339.0M | 385.0M |
| Long Term Debt And Capital Lease Obligation | 988.0M | 975.0M | 681.0M | 428.0M | 482.0M |
| Long Term Capital Lease Obligation | 129.0M | 132.0M | 132.0M | 89.0M | 97.0M |
| Other Non Current Liabilities | 57.0M | 13.0M | 12.0M | 14.0M | 14.0M |
| Total Non Current Liabilities Net Minority Interest | 1.2B | 1.1B | 807.0M | 558.0M | 616.0M |
| Total Liabilities Net Minority Interest | 1.7B | 1.7B | 1.4B | 1.2B | 1.1B |
| Common Stock | 595.0M | 637.0M | 801.0M | 863.0M | 908.0M |
| Capital Stock | 595.0M | 637.0M | 801.0M | 863.0M | 908.0M |
| Retained Earnings | 105.0M | 95.0M | 86.0M | 71.0M | 60.0M |
| Gains Losses Not Affecting Retained Earnings | 29.0M | 28.0M | 34.0M | 34.0M | 29.0M |
| Common Stock Equity | 792.0M | 817.0M | 974.0M | 1.0B | 1.1B |
| Stockholders Equity | 792.0M | 817.0M | 974.0M | 1.0B | 1.1B |
| Total Equity Gross Minority Interest | 792.0M | 817.0M | 974.0M | 1.0B | 1.1B |
| Total Capitalization | 1.7B | 1.7B | 1.5B | 1.4B | 1.4B |
| Net Tangible Assets | 464.0M | 482.0M | 634.0M | 751.0M | 760.0M |
| Tangible Book Value | 464.0M | 482.0M | 634.0M | 751.0M | 760.0M |
| Working Capital | 113.0M | 157.0M | 2.0M | 7.0M | 68.0M |
| Invested Capital | 1.7B | 1.7B | 1.5B | 1.4B | 1.4B |
| Total Debt | 1.0B | 1.0B | 711.0M | 454.0M | 508.0M |
| Net Debt | 837.0M | 812.0M | 529.0M | 313.0M | 366.0M |
| Share Issued | 217.4M | 219.8M | 230.9M | 234.1M | 236.9M |
| Ordinary Shares Number | 217.4M | 219.8M | 230.9M | 234.1M | 236.9M |
| Assets Held For Sale Current | -- | -- | -- | 0.00 | 0.00 |
| Buildings And Improvements | 105.0M | -- | -- | 55.0M | -- |
| Capital Lease Obligations | 161.0M | 162.0M | 162.0M | 115.0M | 123.0M |
| Construction In Progress | 106.0M | -- | -- | 69.0M | -- |
| Current Capital Lease Obligation | 32.0M | 30.0M | 30.0M | 26.0M | 26.0M |
| Current Deferred Liabilities | 0.00 | 8.0M | 83.0M | 70.0M | -- |
| Current Provisions | 15.0M | 10.0M | 15.0M | 15.0M | 8.0M |
| Foreign Currency Translation Adjustments | 29.0M | 28.0M | 34.0M | 34.0M | 29.0M |
| Inventories Adjustments Allowances | -- | -- | -- | 0.00 | 0.00 |
| Land And Improvements | 240.0M | -- | -- | 225.0M | -- |
| Long Term Provisions | 152.0M | 151.0M | 110.0M | 110.0M | 117.0M |
| Machinery Furniture Equipment | 2.2B | -- | -- | 2.0B | -- |
| Non Current Deferred Assets | -- | 4.0M | 2.0M | 0.00 | 0.00 |
| Non Current Deferred Liabilities | 9.0M | 5.0M | 4.0M | 6.0M | 3.0M |
| Non Current Deferred Taxes Assets | -- | 4.0M | 2.0M | 0.00 | 0.00 |
| Non Current Deferred Taxes Liabilities | 9.0M | 5.0M | 4.0M | 6.0M | 3.0M |
| Other Equity Interest | 63.0M | 57.0M | 53.0M | 74.0M | 56.0M |
| Other Inventories | 45.0M | -- | -- | 13.0M | 12.0M |
| Other Properties | 288.0M | 1.4B | 1.4B | 208.0M | 1.3B |
| Properties | 0.00 | -- | -- | 0.00 | -- |
| Raw Materials | 111.0M | -- | -- | 130.0M | 110.0M |
| Restricted Cash | -- | -- | -- | -- | -- |
| Total Tax Payable | 7.0M | 6.0M | 1.0M | 14.0M | 19.0M |
| Line Item | Q4 2025Dec 31, 2025 | Q2 2025Jun 30, 2025 | Q1 2025Mar 31, 2025 | Q4 2024Dec 31, 2024 | Q3 2024Sep 30, 2024 |
|---|---|---|---|---|---|
| Operating Cash Flow | 122.0M | -43.0M | 101.0M | 150.0M | 149.0M |
| Cash Flow From Continuing Operating Activities | 122.0M | -43.0M | 101.0M | 150.0M | 149.0M |
| Depreciation Amortization Depletion | 48.0M | 46.0M | 45.0M | 42.0M | 45.0M |
| Stock Based Compensation | 3.0M | 6.0M | 10.0M | 9.0M | 5.0M |
| Deferred Tax | 16.0M | -2.0M | -3.0M | 11.0M | -30.0M |
| Deferred Income Tax | 16.0M | -2.0M | -3.0M | 11.0M | -30.0M |
| Change In Working Capital | 4.0M | -126.0M | 20.0M | 44.0M | 43.0M |
| Change In Other Working Capital | -- | -126.0M | 20.0M | -- | -- |
| Other Non Cash Items | 8.0M | 12.0M | 8.0M | 16.0M | 6.0M |
| Capital Expenditure | -69.0M | -38.0M | -40.0M | -43.0M | -29.0M |
| Purchase Of PPE | -69.0M | -38.0M | -40.0M | -43.0M | -29.0M |
| Net PPE Purchase And Sale | -67.0M | -35.0M | -39.0M | -1.2B | -24.0M |
| Purchase Of Business | -9.0M | 0.00 | -152.0M | 0.00 | 0.00 |
| Investing Cash Flow | -79.0M | -47.0M | -191.0M | -28.0M | -25.0M |
| Cash Flow From Continuing Investing Activities | -79.0M | -47.0M | -191.0M | -28.0M | -25.0M |
| Issuance Of Debt | 13.0M | 296.0M | 208.0M | 0.00 | 0.00 |
| Repayment Of Debt | -7.0M | -6.0M | -7.0M | -51.0M | -34.0M |
| Net Issuance Payments Of Debt | 6.0M | 290.0M | 201.0M | -51.0M | -34.0M |
| Repurchase Of Capital Stock | -16.0M | -162.0M | -79.0M | -45.0M | -53.0M |
| Net Common Stock Issuance | -16.0M | -162.0M | -79.0M | -45.0M | -53.0M |
| Common Stock Dividend Paid | -22.0M | -- | -- | -28.0M | -24.0M |
| Common Stock Payments | -16.0M | -162.0M | -79.0M | -45.0M | -53.0M |
| Financing Cash Flow | -44.0M | 102.0M | 83.0M | -113.0M | -112.0M |
| Cash Flow From Continuing Financing Activities | -44.0M | 102.0M | 83.0M | -113.0M | -112.0M |
| Effect Of Exchange Rate Changes | -1.0M | -1.0M | 1.0M | -2.0M | 0.00 |
| Changes In Cash | -1.0M | 12.0M | -7.0M | 9.0M | 12.0M |
| Beginning Cash Position | 24.0M | 20.0M | 26.0M | 19.0M | 7.0M |
| End Cash Position | 22.0M | 31.0M | 20.0M | 26.0M | 19.0M |
| Free Cash Flow | 53.0M | -81.0M | 61.0M | 107.0M | 120.0M |
| Income Tax Paid Supplemental Data | 5.0M | 7.0M | 26.0M | 3.0M | 3.0M |
| Cash Dividends Paid | -22.0M | -22.0M | -23.0M | -28.0M | -24.0M |
| Interest Paid Cfo | -10.0M | -10.0M | -17.0M | -6.0M | -14.0M |
| Long Term Debt Issuance | 13.0M | 296.0M | 208.0M | 0.00 | 0.00 |
| Long Term Debt Payments | -7.0M | -6.0M | -7.0M | -51.0M | -34.0M |
| Net Business Purchase And Sale | -9.0M | 0.00 | -152.0M | 0.00 | 0.00 |
| Net Income From Continuing Operations | 53.0M | 31.0M | 38.0M | 34.0M | 94.0M |
| Net Long Term Debt Issuance | 6.0M | 290.0M | 201.0M | -51.0M | -34.0M |
| Net Other Financing Charges | -12.0M | -4.0M | -16.0M | 11.0M | -1.0M |
| Net Other Investing Changes | -3.0M | -12.0M | -- | 1.1B | -1.0M |
| Net Short Term Debt Issuance | -- | -- | -- | -- | -- |
| Operating Gains Losses | -- | -- | -- | 0.00 | -- |
| Sale Of PPE | 2.0M | 3.0M | 1.0M | -- | 5.0M |
| Short Term Debt Payments | -- | -- | -- | -- | -- |