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Canadian (TSX) Oil and Gas Services Industry Analysis

UpdatedDec 24, 2025
DataAggregated Company Financials
Companies17
  • 7D1.7%
  • 3M15.2%
  • 1Y19.1%
  • YTDn/a

Over the last 7 days, the Oil and Gas Services industry has remained flat, although notably TerraVest Industries gained 3.7%. The past year has been better, since the industry has gained 20% in that time. Looking forward, earnings are forecast to grow by 13% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 24 Dec 2025CA$13.2bCA$15.1bCA$850.8m12.6x15.5x0.9x
Fri, 21 Nov 2025CA$12.2bCA$15.9bCA$841.9m11.7x14.5x0.8x
Sun, 19 Oct 2025CA$11.5bCA$15.0bCA$811.3m12x14.2x0.8x
Tue, 16 Sep 2025CA$11.6bCA$14.9bCA$808.2m12x14.4x0.8x
Thu, 14 Aug 2025CA$11.9bCA$14.7bCA$826.2m10.3x14.5x0.8x
Sat, 12 Jul 2025CA$11.6bCA$14.6bCA$736.5m12.8x15.8x0.8x
Mon, 09 Jun 2025CA$10.8bCA$14.6bCA$736.7m12.6x14.7x0.7x
Wed, 07 May 2025CA$9.8bCA$14.3bCA$628.9m12.5x15.7x0.7x
Fri, 04 Apr 2025CA$10.7bCA$14.3bCA$667.6m13.4x16.1x0.7x
Sun, 02 Mar 2025CA$10.0bCA$14.5bCA$747.8m11.8x13.4x0.7x
Tue, 28 Jan 2025CA$11.8bCA$14.5bCA$739.8m10.5x15.9x0.8x
Thu, 26 Dec 2024CA$11.4bCA$14.5bCA$739.9m10.5x15.4x0.8x
Sat, 23 Nov 2024CA$11.6bCA$14.3bCA$757.2m10.9x15.3x0.8x
Mon, 21 Oct 2024CA$9.6bCA$14.1bCA$848.5m9.2x11.3x0.7x
Wed, 18 Sep 2024CA$9.4bCA$14.0bCA$850.6m8.7x11.1x0.7x
Fri, 16 Aug 2024CA$12.6bCA$24.0bCA$1.4b8.4x8.9x0.5x
Sun, 14 Jul 2024CA$12.8bCA$22.9bCA$1.4b8.4x9.1x0.6x
Tue, 11 Jun 2024CA$12.6bCA$23.0bCA$1.4b8.5x8.9x0.5x
Thu, 09 May 2024CA$12.2bCA$22.9bCA$1.4b8.7x8.6x0.5x
Sat, 06 Apr 2024CA$12.4bCA$22.0bCA$1.1b8.6x11.6x0.6x
Mon, 04 Mar 2024CA$11.8bCA$22.3bCA$849.9m7.3x13.9x0.5x
Wed, 31 Jan 2024CA$11.6bCA$22.6bCA$882.8m8.7x13.1x0.5x
Fri, 29 Dec 2023CA$10.7bCA$22.6bCA$882.8m8.8x12.1x0.5x
Sun, 26 Nov 2023CA$9.7bCA$22.6bCA$886.1m8.1x10.9x0.4x
Tue, 24 Oct 2023CA$9.6bCA$21.7bCA$878.5m7.8x11x0.4x
Thu, 21 Sep 2023CA$10.8bCA$21.7bCA$878.5m8.6x12.3x0.5x
Sat, 19 Aug 2023CA$10.3bCA$21.7bCA$875.2m8.3x11.8x0.5x
Mon, 17 Jul 2023CA$10.2bCA$21.3bCA$850.9m7.8x12x0.5x
Wed, 14 Jun 2023CA$9.4bCA$21.3bCA$850.9m7.6x11.1x0.4x
Fri, 12 May 2023CA$9.1bCA$20.9bCA$729.8m8.2x12.4x0.4x
Sun, 09 Apr 2023CA$9.2bCA$19.8bCA$590.3m8.9x15.6x0.5x
Tue, 07 Mar 2023CA$10.4bCA$19.8bCA$528.3m10.1x19.6x0.5x
Thu, 02 Feb 2023CA$10.8bCA$18.4bCA$289.9m12.5x37.3x0.6x
Sat, 31 Dec 2022CA$10.2bCA$18.4bCA$289.9m13.4x35.3x0.6x
Price to Earnings Ratio

35.3x


Total Market Cap: CA$10.2bTotal Earnings: CA$289.9mTotal Revenue: CA$18.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Oil and Gas Services Industry Price to Earnings3Y Average 14.4x202320242025
Current Industry PE
  • Investors are relatively neutral on the Canadian Oil and Gas Equipment and Services industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 14.4x.
  • The industry is trading close to its 3-year average PS ratio of 0.61x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas Equipment and Services industry have grown 43% per year over the last three years.
  • Meanwhile revenues for these companies have declined 6.3% per year.
  • This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.

Industry Comparison

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

CA Market2.23%
Energy2.26%
Energy Services1.83%
Oil and Gas Services1.74%
Oil and Gas Drilling2.29%
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
TVK TerraVest IndustriesCA$164.364.1%
+CA$139.4m		42.7%PE41.1x
TCW Trican Well ServiceCA$5.896.3%
+CA$74.0m		20.0%PE11.5x
CFW Calfrac Well ServicesCA$4.1421.1%
+CA$61.8m		9.8%PE16.9x
CEU CES Energy SolutionsCA$12.251.1%
+CA$27.5m		25.8%PE14.5x
TOT Total Energy ServicesCA$15.192.2%
+CA$11.7m		33.2%PE9.2x

Latest News

CFW
CA$4.14
Calfrac Well Services
7D
21.1%
1Y
9.8%

Calfrac Well Services Ltd.'s (TSE:CFW) Business Is Yet to Catch Up With Its Share Price

Dec 24
Calfrac Well Services Ltd.'s (TSE:CFW) Business Is Yet to Catch Up With Its Share Price
CEU
CA$12.25
CES Energy Solutions
7D
1.1%
1Y
25.8%
MCB
CA$2.91
McCoy Global
7D
9.8%
1Y
4.7%
TVK
CA$164.36
TerraVest Industries
7D
4.1%
1Y
42.7%
TOT
CA$15.19
Total Energy Services
7D
2.2%
1Y
33.2%
EFX
CA$20.82
Enerflex
7D
-3.3%
1Y
46.8%

EFX: Expanding Margins And Modular Power Will Drive Future Cash Returns

The analyst price target for Enerflex has increased from approximately $23.08 to $24.64 per share, as analysts point to stronger than expected EBITDA, margins, and free cash flow, an improved profit outlook, and a more disciplined capital allocation strategy that supports higher long term valuation multiples. Analyst Commentary Bullish analysts continue to highlight Enerflex's ability to outperform expectations on EBITDA, free cash flow, and earnings, reinforcing confidence in the company's execution and earnings quality.
NOA
CA$18.72
North American Construction Group
7D
-2.4%
1Y
-39.0%
MATR
CA$7.94
Mattr
7D
-0.1%
1Y
-36.3%

MATR Q4 Outlook Will Emphasize Earnings Timing And Buyback Support

Mattr's analyst price target has been revised down from C$11.00 to C$8.00 as analysts moderate their revenue growth and margin expectations, even as recent target resets reflect a more balanced, Hold to Outperform stance on the stock. Analyst Commentary Bearish analysts have grown more guarded on Mattr, trimming price targets and tempering expectations for near term earnings traction.
TCW
CA$5.89
Trican Well Service
7D
6.3%
1Y
20.0%

Trican Well Service Ltd.'s (TSE:TCW) Shares Lagging The Market But So Is The Business

Dec 13
Trican Well Service Ltd.'s (TSE:TCW) Shares Lagging The Market But So Is The Business
SHLE
CA$15.55
Source Energy Services
7D
5.8%
1Y
2.0%

There's Reason For Concern Over Source Energy Services Ltd.'s (TSE:SHLE) Massive 38% Price Jump

Dec 07
There's Reason For Concern Over Source Energy Services Ltd.'s (TSE:SHLE) Massive 38% Price Jump
PSD
CA$3.13
Pulse Seismic
7D
5.7%
1Y
36.7%
CPS
CA$0.06
Canadian Premium Sand
7D
-14.3%
1Y
-78.6%
QST
CA$0.40
Questor Technology
7D
-16.7%
1Y
25.0%
CTEK
CA$0.47
Cleantek Industries
7D
-7.8%
1Y
213.3%
HWO
CA$0.85
High Arctic Energy Services
7D
-1.2%
1Y
-25.4%