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Canadian (TSX) Oil and Gas Drilling Industry Analysis

UpdatedApr 15, 2026
DataAggregated Company Financials
Companies8
  • 7D-6.6%
  • 3M26.4%
  • 1Y81.8%
  • YTDn/a

Over the last 7 days, the Oil and Gas Drilling industry has dropped 2.8%, driven by Precision Drilling declining 3.1%. In the past year, the industry has gained 88%. Looking forward, earnings are forecast to grow by 59% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 15 Apr 2026CA$3.4bCA$5.2bCA$25.1m10.8x136x0.7x
Fri, 13 Mar 2026CA$3.4bCA$5.2bCA$41.2m9.9x82.5x0.7x
Sun, 08 Feb 2026CA$3.0bCA$5.2bCA$106.4m7.6x27.8x0.6x
Tue, 06 Jan 2026CA$2.5bCA$5.2bCA$106.4m6.3x23.6x0.5x
Thu, 04 Dec 2025CA$2.4bCA$5.2bCA$106.4m6.6x22.3x0.5x
Sat, 01 Nov 2025CA$2.3bCA$5.2bCA$128.1m6.5x17.6x0.4x
Mon, 29 Sep 2025CA$2.3bCA$5.3bCA$175.1m6.8x12.9x0.4x
Wed, 27 Aug 2025CA$2.2bCA$5.3bCA$175.1m6.5x12.3x0.4x
Fri, 25 Jul 2025CA$2.1bCA$5.3bCA$219.0m6.6x9.7x0.4x
Sun, 22 Jun 2025CA$2.2bCA$5.3bCA$218.4m7x10x0.4x
Tue, 20 May 2025CA$1.9bCA$5.3bCA$221.9m5.4x8.7x0.4x
Thu, 17 Apr 2025CA$1.8bCA$5.3bCA$213.8m6.3x8.6x0.3x
Sat, 15 Mar 2025CA$2.0bCA$5.3bCA$200.7m5.4x10.1x0.4x
Mon, 10 Feb 2025CA$2.5bCA$5.3bCA$395.4m5.1x6.2x0.5x
Wed, 08 Jan 2025CA$2.8bCA$5.3bCA$395.4m5.7x7x0.5x
Fri, 06 Dec 2024CA$2.6bCA$5.3bCA$395.4m5.5x6.5x0.5x
Sun, 03 Nov 2024CA$2.6bCA$5.4bCA$394.3m7.1x6.5x0.5x
Tue, 01 Oct 2024CA$2.5bCA$5.3bCA$364.3m7x6.9x0.5x
Thu, 29 Aug 2024CA$2.8bCA$5.3bCA$364.3m7.6x7.6x0.5x
Sat, 27 Jul 2024CA$2.8bCA$5.4bCA$394.3m5.7x7.1x0.5x
Mon, 24 Jun 2024CA$2.5bCA$5.4bCA$394.0m5.1x6.4x0.5x
Wed, 22 May 2024CA$2.7bCA$5.4bCA$394.0m5.6x6.9x0.5x
Fri, 19 Apr 2024CA$2.6bCA$5.5bCA$461.4m4.6x5.6x0.5x
Sun, 17 Mar 2024CA$2.6bCA$5.5bCA$479.9m4.5x5.4x0.5x
Tue, 13 Feb 2024CA$2.5bCA$5.5bCA$446.4m4.8x5.6x0.5x
Thu, 11 Jan 2024CA$2.2bCA$5.5bCA$303.2m5.8x7.2x0.4x
Sat, 09 Dec 2023CA$2.2bCA$5.5bCA$303.2m5.9x7.2x0.4x
Mon, 06 Nov 2023CA$2.3bCA$5.4bCA$294.0m6.8x7.9x0.4x
Wed, 04 Oct 2023CA$2.6bCA$5.4bCA$328.9m6.7x8x0.5x
Fri, 01 Sep 2023CA$2.6bCA$5.4bCA$328.9m6.6x8x0.5x
Sun, 30 Jul 2023CA$2.4bCA$5.2bCA$269.5m6.6x8.9x0.5x
Tue, 27 Jun 2023CA$1.8bCA$5.1bCA$260.7m5.1x6.9x0.4x
Thu, 25 May 2023CA$2.0bCA$5.1bCA$260.7m5.3x7.6x0.4x
Sat, 22 Apr 2023CA$2.2bCA$4.5bCA$78.0m9.8x28x0.5x
Price to Earnings Ratio

28x


Total Market Cap: CA$2.2bTotal Earnings: CA$78.0mTotal Revenue: CA$4.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Oil and Gas Drilling Industry Price to Earnings3Y Average 14.7x202420252026
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 135x which is higher than its 3-year average PE of 14.6x.
  • The industry is trading close to its 3-year average PS ratio of 0.46x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas Drilling industry have declined 31% per year over the last three years.
  • Meanwhile revenues for these companies have grown 4.7% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Comparison

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

CA Market2.81%
Energy-4.34%
Energy Services0.32%
Oil and Gas Drilling-6.60%
Oil and Gas Services1.91%
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
No data available

Latest News

ESI
CA$3.40
Ensign Energy Services
7D
-6.6%
1Y
78.9%

ESI: Future Fair Value Will Rely On Earnings Power And P/E Assumptions

Analysts have raised their price target on Ensign Energy Services to CA$3.50 from CA$3.00, reflecting updated fair value estimates and minor adjustments to assumptions such as the discount rate and future P/E. Analyst Commentary Recent research points to a modestly higher fair value range for Ensign Energy Services, with the price target adjusted to CA$3.50 from CA$3.00.
PHX
CA$11.49
PHX Energy Services
7D
-7.9%
1Y
52.4%
PD
CA$123.96
Precision Drilling
7D
-6.6%
1Y
111.0%

PD: Buybacks And Improved Profitability Assumptions Will Support Future Earnings Power

Analysts have lifted their price target on Precision Drilling from CA$150 to CA$160, pointing to updated assumptions for fair value, discount rate, revenue growth, profit margins and future P/E as the key drivers of the change. What's in the News Completed share repurchase of 289,118 shares, equal to 2.19% of outstanding shares, between October 1, 2025 and March 9, 2026, for a total of CA$24.97 million (Key Developments) Buyback activity finalized under the program originally announced on September 11, 2025, with no additional repurchases disclosed beyond the completed 289,118 shares (Key Developments) Recent buyback data provides a concrete reference for how much capital Precision Drilling has allocated to share repurchases within the current program period (Key Developments) Valuation Changes Fair Value: CA$150.0 to CA$160.0, a CA$10.0 increase in the modelled price target range.
SDI
CA$0.21
Stampede Drilling
7D
-4.5%
1Y
31.3%
ACX
CA$6.34
ACT Energy Technologies
7D
-7.7%
1Y
34.9%

Why ACT Energy Technologies' (TSE:ACX) Shaky Earnings Are Just The Beginning Of Its Problems

Apr 01
Why ACT Energy Technologies' (TSE:ACX) Shaky Earnings Are Just The Beginning Of Its Problems
WRG
CA$2.96
Western Energy Services
7D
-1.3%
1Y
41.0%
AKT.A
CA$3.76
AKITA Drilling
7D
-4.6%
1Y
117.3%
HOH
CA$1.39
High Arctic Overseas Holdings
7D
-2.1%
1Y
41.8%