Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Canadian (TSX) Oil and Gas Drilling Industry Analysis

UpdatedFeb 11, 2026
DataAggregated Company Financials
Companies8
  • 7D4.8%
  • 3M33.5%
  • 1Y21.1%
  • YTDn/a

The Oil and Gas Drilling industry is up 8.2% in the last week, with Precision Drilling up 7.0%. This takes the industry's 12 month performance to a gain of 22%. Looking forward, earnings are forecast to grow by 71% annually.

Industry Valuation and Performance

Has the Canadian Oil and Gas Drilling Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 11 Feb 2026CA$3.0bCA$5.2bCA$106.4m7.7x28.1x0.6x
Fri, 09 Jan 2026CA$2.4bCA$5.2bCA$106.4m6.3x22.9x0.5x
Sun, 07 Dec 2025CA$2.5bCA$5.2bCA$106.4m6.9x23.5x0.5x
Tue, 04 Nov 2025CA$2.3bCA$5.2bCA$128.1m6.6x18x0.4x
Thu, 02 Oct 2025CA$2.2bCA$5.3bCA$175.1m6.8x12.6x0.4x
Sat, 30 Aug 2025CA$2.1bCA$5.3bCA$175.1m6.6x12.2x0.4x
Mon, 28 Jul 2025CA$2.1bCA$5.3bCA$219.0m6.5x9.7x0.4x
Wed, 25 Jun 2025CA$2.0bCA$5.3bCA$218.4m6.7x9.2x0.4x
Fri, 23 May 2025CA$1.8bCA$5.3bCA$218.4m6.2x8.5x0.3x
Sun, 20 Apr 2025CA$1.9bCA$5.3bCA$213.8m6.3x8.8x0.4x
Tue, 18 Mar 2025CA$2.1bCA$5.3bCA$200.7m5.4x10.3x0.4x
Thu, 13 Feb 2025CA$2.5bCA$5.3bCA$395.4m5.2x6.4x0.5x
Sat, 11 Jan 2025CA$2.8bCA$5.3bCA$395.4m5.7x7.1x0.5x
Mon, 09 Dec 2024CA$2.5bCA$5.3bCA$395.4m5.4x6.4x0.5x
Wed, 06 Nov 2024CA$2.6bCA$5.4bCA$391.5m7.4x6.8x0.5x
Fri, 04 Oct 2024CA$2.5bCA$5.3bCA$364.3m7.1x6.9x0.5x
Sun, 01 Sep 2024CA$2.8bCA$5.3bCA$364.3m7.6x7.6x0.5x
Tue, 30 Jul 2024CA$2.8bCA$5.4bCA$394.3m5.6x7.1x0.5x
Thu, 27 Jun 2024CA$2.6bCA$5.4bCA$394.0m5.3x6.6x0.5x
Sat, 25 May 2024CA$2.6bCA$5.4bCA$394.0m5.5x6.7x0.5x
Mon, 22 Apr 2024CA$2.6bCA$5.5bCA$461.4m4.6x5.6x0.5x
Wed, 20 Mar 2024CA$2.6bCA$5.5bCA$479.9m4.5x5.5x0.5x
Fri, 16 Feb 2024CA$2.4bCA$5.5bCA$446.4m4.8x5.4x0.4x
Sun, 14 Jan 2024CA$2.2bCA$5.5bCA$303.2m5.9x7.3x0.4x
Tue, 12 Dec 2023CA$2.2bCA$5.5bCA$303.2m5.9x7.1x0.4x
Thu, 09 Nov 2023CA$2.2bCA$5.4bCA$294.0m6.5x7.6x0.4x
Sat, 07 Oct 2023CA$2.5bCA$5.4bCA$328.9m6.4x7.7x0.5x
Mon, 04 Sep 2023CA$2.7bCA$5.4bCA$328.9m6.9x8.2x0.5x
Wed, 02 Aug 2023CA$2.4bCA$5.2bCA$269.5m6.5x9x0.5x
Fri, 30 Jun 2023CA$1.9bCA$5.1bCA$260.7m5.2x7.2x0.4x
Sun, 28 May 2023CA$1.9bCA$5.1bCA$260.7m5.7x7.4x0.4x
Tue, 25 Apr 2023CA$2.3bCA$4.5bCA$78.0m9.9x29.1x0.5x
Thu, 23 Mar 2023CA$2.3bCA$4.4bCA$66.6m10.2x34x0.5x
Sat, 18 Feb 2023CA$2.6bCA$4.1b-CA$5,627,265.0012.3x-458x0.6x
Price to Earnings Ratio

-458x


Total Market Cap: CA$2.6bTotal Earnings: -CA$5,627,265.00Total Revenue: CA$4.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Oil and Gas Drilling Industry Price to Earnings3Y Average 2.6x202420252026
Current Industry PE
  • Investors are optimistic on the Canadian Oil and Gas Drilling industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 27.7x which is higher than its 3-year average PE of 2.2x.
  • The industry is trading close to its 3-year average PS ratio of 0.46x.
Past Earnings Growth
  • Total earnings for the Oil and Gas Drilling industry have gone up over the last three years, and the industry is now profitable. Revenues have grown 8.0% per year.
  • This means that more sales are being generated by the industry overall, and subsequently profits are increasing too.

Industry Comparison

How does Canadian Oil and Gas Drilling compare with similar industries?

CA Market2.10%
Energy1.39%
Energy Services2.55%
Oil and Gas Drilling4.78%
Oil and Gas Services2.13%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
PD Precision DrillingCA$118.245.7%
+CA$82.6m		45.3%PE26x
ESI Ensign Energy ServicesCA$3.374.0%
+CA$23.9m		10.5%PS0.4x
PHX PHX Energy ServicesCA$8.753.9%
+CA$15.0m		-6.0%PE7.7x
WRG Western Energy ServicesCA$2.558.5%
+CA$6.8m		-1.2%PS0.4x
ACX ACT Energy TechnologiesCA$5.942.9%
+CA$5.2m		-2.6%PE7.6x

Latest News

AKT.A
CA$2.09
AKITA Drilling
7D
0.5%
1Y
28.2%
ESI
CA$3.37
Ensign Energy Services
7D
4.0%
1Y
10.5%

ESI: Future Fair Value Will Depend On Margin Recovery And Lower P/E

Analysts have revised their price target for Ensign Energy Services to $3.25 from $2.96 after updated assumptions on fair value, profit margin and future P/E were incorporated into a slightly higher valuation framework. Valuation Changes Fair Value: Updated from CA$2.96 to CA$3.25, reflecting a modestly higher estimated share value.
PD
CA$118.24
Precision Drilling
7D
5.7%
1Y
45.3%

PD: Margin Assumptions And Lower Future P/E Will Shape Balanced Outlook

Analysts have lifted their price target on Precision Drilling from $105.50 to $121.25, citing updated views on discount rates, profit margin assumptions, and a lower future P/E multiple as the primary drivers of this change. Valuation Changes Fair Value Estimate raised from CA$105.50 to CA$121.25, reflecting a higher assessed equity value per share.
ACX
CA$5.94
ACT Energy Technologies
7D
2.9%
1Y
-2.6%
SDI
CA$0.14
Stampede Drilling
7D
3.8%
1Y
-22.9%
PHX
CA$8.75
PHX Energy Services
7D
3.9%
1Y
-6.0%
WRG
CA$2.55
Western Energy Services
7D
8.5%
1Y
-1.2%
HOH
CA$1.28
High Arctic Overseas Holdings
7D
-3.0%
1Y
-2.3%