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Canadian (TSX) Oil and Gas Services Industry Analysis

UpdatedJun 29, 2026
DataAggregated Company Financials
Companies17
  • 7D0.3%
  • 3M-0.4%
  • 1Y46.9%
  • YTDn/a

Over the last 7 days, the Oil and Gas Services industry has remained flat, although notably CES Energy Solutions gained 8.1%. As for the the longer term, the industry is up 47% over the past 12 months. As for the next few years, earnings are expected to grow by 23% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 30 Jun 2026CA$16.1bCA$15.8bCA$778.8m16.6x20.6x1x
Thu, 28 May 2026CA$18.1bCA$15.7bCA$775.9m17.5x23.4x1.2x
Sat, 25 Apr 2026CA$17.0bCA$15.5bCA$839.7m13.3x20.2x1.1x
Mon, 23 Mar 2026CA$16.1bCA$15.5bCA$839.5m12.6x19.2x1x
Wed, 18 Feb 2026CA$15.2bCA$15.3bCA$854.5m15x17.8x1x
Fri, 16 Jan 2026CA$14.3bCA$15.2bCA$853.6m13.5x16.8x0.9x
Sun, 14 Dec 2025CA$13.8bCA$16.0bCA$844.0m12.4x16.3x0.9x
Tue, 11 Nov 2025CA$11.9bCA$15.9bCA$840.6m12x14.2x0.8x
Thu, 09 Oct 2025CA$12.3bCA$15.0bCA$810.6m12.7x15.2x0.8x
Sat, 06 Sep 2025CA$11.7bCA$15.0bCA$809.2m11.9x14.5x0.8x
Mon, 04 Aug 2025CA$11.4bCA$14.6bCA$757.8m10.8x15.1x0.8x
Wed, 02 Jul 2025CA$11.1bCA$14.5bCA$736.2m12.1x15.1x0.8x
Fri, 30 May 2025CA$10.6bCA$14.6bCA$737.6m12x14.3x0.7x
Sun, 27 Apr 2025CA$9.6bCA$14.3bCA$678.7m10.6x14.2x0.7x
Tue, 25 Mar 2025CA$10.5bCA$14.5bCA$657.5m14.6x15.9x0.7x
Thu, 20 Feb 2025CA$10.7bCA$14.4bCA$745.1m10.4x14.4x0.7x
Sat, 18 Jan 2025CA$11.6bCA$14.5bCA$739.1m10.5x15.7x0.8x
Mon, 16 Dec 2024CA$11.4bCA$14.5bCA$740.9m10.5x15.4x0.8x
Wed, 13 Nov 2024CA$11.1bCA$14.3bCA$741.8m10.5x15x0.8x
Fri, 11 Oct 2024CA$9.7bCA$14.1bCA$849.2m9.3x11.4x0.7x
Sun, 08 Sep 2024CA$9.4bCA$14.0bCA$851.0m8.6x11x0.7x
Tue, 06 Aug 2024CA$12.5bCA$23.9bCA$1.4b9.4x9x0.5x
Thu, 04 Jul 2024CA$13.0bCA$22.9bCA$1.4b8.5x9.2x0.6x
Sat, 01 Jun 2024CA$12.4bCA$22.9bCA$1.4b8.4x8.7x0.5x
Mon, 29 Apr 2024CA$12.5bCA$22.9bCA$1.5b8.1x8.6x0.5x
Wed, 27 Mar 2024CA$11.7bCA$22.0bCA$1.1b7.8x11x0.5x
Fri, 23 Feb 2024CA$11.3bCA$21.9bCA$888.1m7x12.7x0.5x
Sun, 21 Jan 2024CA$11.0bCA$22.6bCA$882.8m8.3x12.4x0.5x
Tue, 19 Dec 2023CA$10.1bCA$22.6bCA$882.8m8.5x11.5x0.4x
Thu, 16 Nov 2023CA$10.0bCA$22.6bCA$899.7m8.4x11.2x0.4x
Sat, 14 Oct 2023CA$9.9bCA$21.7bCA$878.5m8x11.3x0.5x
Mon, 11 Sep 2023CA$11.1bCA$21.7bCA$878.5m8.7x12.6x0.5x
Wed, 09 Aug 2023CA$10.8bCA$20.9bCA$821.9m8.9x13.2x0.5x
Fri, 07 Jul 2023CA$9.8bCA$21.3bCA$850.9m7.2x11.5x0.5x
Price to Earnings Ratio

11.5x


Total Market Cap: CA$9.8bTotal Earnings: CA$850.9mTotal Revenue: CA$21.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Oil and Gas Services Industry Price to Earnings3Y Average 13.9x202420252026
Current Industry PE
  • Investors are optimistic on the Canadian Oil and Gas Equipment and Services industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 20.6x which is higher than its 3-year average PE of 13.9x.
  • The 3-year average PS ratio of 0.70x is lower than the industry's current PS ratio of 1.0x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas Equipment and Services industry have declined 2.9% per year over the last three years,
  • Revenues have also declined 9.4% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Comparison

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

CA Market-0.35%
Energy-0.62%
Energy Services-0.93%
Oil and Gas Services0.34%
Oil and Gas Drilling-7.14%
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
CEU CES Energy SolutionsCA$16.668.2%
+CA$265.7m		151.3%PE16.7x
PSD Pulse SeismicCA$3.422.1%
+CA$3.6m		11.0%PE20.7x
MATR MattrCA$12.860.4%
+CA$3.1m		7.1%PE103.6x
SHLE Source Energy ServicesCA$13.600.7%
+CA$1.2m		3.1%PE28.7x
QST Questor TechnologyCA$0.2812.0%
+CA$833.2k		-30.0%PS1.6x

Latest News

SHLE
CA$13.60
Source Energy Services
7D
0.7%
1Y
3.1%
PSI
CA$12.18
Pason Systems
7D
-3.5%
1Y
-0.8%
Narrative Update • Jun 25

PSI: Higher P/E Confidence And Buybacks Will Support Future Upside

Analysts have lifted their price target on Pason Systems by CA$2, citing updated assumptions on future P/E multiples and recent Street research that includes a target increase at BMO Capital and an upgrade at TD Securities. Analyst Commentary Recent research coverage on Pason Systems provides a mix of optimism and caution around the stock's valuation, its ability to execute on current plans, and the durability of its growth profile.
EFX
CA$35.29
Enerflex
7D
-3.6%
1Y
228.3%
CEU
CA$16.66
CES Energy Solutions
7D
8.2%
1Y
151.3%
Narrative Update • Jun 24

CEU: Refinancing And Production Chemicals Expansion Will Support Move Toward CA$22

Analysts have nudged the consensus price target for CES Energy Solutions higher to CA$22, up from CA$21, citing improving oil market conditions into 2027 and multiple growth avenues across US onshore, Gulf of Mexico offshore, and Canadian SAGD operations. Analyst Commentary Recent research on CES Energy Solutions reflects a mix of optimism about the company's growth options and some caution around how much of that potential is already reflected in the share price.
TVK
CA$113.29
TerraVest Industries
7D
-6.9%
1Y
-33.0%
MATR
CA$12.86
Mattr
7D
0.4%
1Y
7.1%
Narrative Update • Jun 23

MATR: Strong Q1 Execution And Higher 2026 Guidance Will Support Repricing

The analyst price target for Mattr has moved up from CA$15.25 to CA$16.00, with analysts pointing to strong recent results, higher 2026 guidance and an improved outlook that feeds through to slightly higher revenue growth, profit margin and future P/E assumptions in the model. Analyst Commentary Recent Street research on Mattr points to a clear shift in tone, with several bullish analysts raising price targets and upgrading their ratings following the latest results and updated 2026 guidance.
NOA
CA$19.04
North American Construction Group
7D
-1.1%
1Y
-12.6%
Narrative Update • Jun 22

NOA: Maintained 2026 Revenue Outlook Will Support Ongoing Share Repurchases

Analysts kept their CA$22.00 price target for North American Construction Group unchanged, citing updated assumptions that reflect slightly adjusted discount rate, revenue growth, profit margin, and future P/E expectations, without materially altering their overall valuation view. What’s in the News for North American Construction Group North American Construction Group maintained earnings guidance for 2026, indicating no change to its previously communicated outlook.
TOT
CA$21.64
Total Energy Services
7D
-4.0%
1Y
100.4%
Narrative Update • Jun 22

TOT: Future Returns Will Be Driven By Completed Share Repurchases

Analysts have kept their CA$32.00 price target for Total Energy Services unchanged, indicating that their latest update reflects largely stable assumptions for fair value, discount rate, revenue growth, profit margin, and future P/E. What's in the News No recent company specific news for Total Energy Services was identified in the provided sources.
TCW
CA$6.66
Trican Well Service
7D
-5.7%
1Y
47.7%
CFW
CA$6.42
Calfrac Well Services
7D
-2.4%
1Y
87.2%
Narrative Update • Jun 17

CFW: Rating Upgrades And CFO Transition Will Support Future Earnings

Analysts have nudged their price target for Calfrac Well Services stock to CA$8.00 from CA$7.50, citing updated assumptions on discount rates and earnings multiples following recent research updates. Analyst Commentary Recent research on Calfrac Well Services stock points to a more constructive stance on valuation, with analysts revisiting their assumptions on discount rates and earnings multiples to support the new CA$8.00 price target.
PSD
CA$3.42
Pulse Seismic
7D
2.1%
1Y
11.0%
CTEK
CA$0.55
Cleantek Industries
7D
-14.1%
1Y
66.7%
RFX
CA$0.12
Reeflex Solutions
7D
4.3%
1Y
-25.0%
QST
CA$0.28
Questor Technology
7D
12.0%
1Y
-30.0%