WinstonWınston
Stock

Séché Environnement S.A.

SCHP.PA
41
Waste Management · Industrials
Also trades as: 0OG6.L GBP 0.70 (+0.72%)
Price
€69.90
+0.90 (+1.30%)
Market Cap
€542.8M
Exchange
Euronext Paris
Winston Score
41
Winston is serious
Mixed quality — meaningful strengths and weaknesses.
Data as of Oct 5, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Weak
7/30
Growth
Weak
4/20
Cash Flow
Strong
8/10
Stability
Mixed
3/10
Valuation
Good
6/10
Ownership
Good
10/15
Dividends
Good
3/5

41 of 100 counted points = Winston Score 41.

§Winston Score History

The full picture

Séché Environnement is a French company that handles hazardous and non-hazardous waste. It collects, treats, and disposes of industrial waste, contaminated soil, and other difficult materials that factories, hospitals, and governments need to get rid of safely. The company operates specialized facilities across France and several other countries, focusing on waste streams that require technical expertise to manage legally and safely.

Séché makes money by charging industrial and public-sector clients fees to collect, process, and store their waste. It operates mainly in France, which generates the majority of its revenue, with a growing presence in Africa, Latin America, and other international markets. Its moat comes from the high cost and regulatory difficulty of building licensed hazardous waste treatment facilities, which limits competition. The main risk is that its profitability remains thin — a 6.3% operating margin and 2.7% return on invested capital leave little room for error if volumes drop or regulatory costs rise.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+6.4% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-23.4% YoY

YoY Growth Rate

Earnings declining

R&D Spend

€0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

71.0%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

€584M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Séché Environnement S.A. is growing revenue at 6% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

−0.6% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 7.8M (2021) → 7.8M (2025)

Score breakdown

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Quality

Profit per sale
Gross Margin
24.0%
Thin — 24.0% gross margin
Profit after running costs
Operating Margin
7.6%
Modest — 7.6% operating margin
Return on the money invested
ROCE
4.3%
Weak — 4.3% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth
Sales YoY
+2.5%
Nearly flat sales (+2.5% YoY)
Profit growth
EPS YoY
-59.3%
Earnings shrinking (-59.3% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash
Cash Conversion
1115%
Turns 1115% of profit into real cash
Spare cash per sale
FCF Margin
7.1%
Modest free cash flow (7.1%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
1.82
Elevated debt (1.82)
Covers its interest
Interest Cover
1.59x
Dangerous — barely covers interest (1.6x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit
P/E Ratio (TTM)
30.5x
Pricey — P/E 30.5

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year
P/E vs Forward
+11.6
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (30.5 → 19.0)

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Dividends

Dividend
Dividend Yield
1.52%
Small dividend — 1.52% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record
Dividend Growth
+22.1%
Dividend growing fast (22.1% YoY)

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