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Canadian (TSX) Energy Services Industry Analysis

UpdatedJun 25, 2026
DataAggregated Company Financials
Companies25
  • 7D-0.03%
  • 3M-5.7%
  • 1Y47.6%
  • YTD16.5%

Over the last 7 days, the Energy Services industry has risen 1.5%, driven by gains from CES Energy Solutions of 5.9%. In the same time, Precision Drilling was down 8.7%. This means that the industry has gained 48% over the past year. Looking forward, earnings are forecast to grow by 32% annually.

Industry Valuation and Performance

Has the Canadian Energy Services Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 25 Jun 2026CA$19.3bCA$21.0bCA$747.5m16.2x25.8x0.9x
Sat, 23 May 2026CA$21.7bCA$20.9bCA$744.0m18.7x29.2x1x
Mon, 20 Apr 2026CA$19.0bCA$20.7bCA$865.0m12.1x21.9x0.9x
Wed, 18 Mar 2026CA$19.2bCA$20.8bCA$866.2m11x22.2x0.9x
Fri, 13 Feb 2026CA$18.0bCA$20.3bCA$956.1m13x18.9x0.9x
Sun, 11 Jan 2026CA$16.0bCA$20.4bCA$960.2m11.5x16.6x0.8x
Tue, 09 Dec 2025CA$15.4bCA$21.1bCA$945.0m11.5x16.3x0.7x
Thu, 06 Nov 2025CA$14.1bCA$20.3bCA$945.4m12.1x14.9x0.7x
Sat, 04 Oct 2025CA$14.5bCA$20.3bCA$985.6m11.2x14.7x0.7x
Mon, 01 Sep 2025CA$13.7bCA$20.2bCA$982.8m10x13.9x0.7x
Wed, 30 Jul 2025CA$13.8bCA$19.9bCA$964.5m9.5x14.3x0.7x
Fri, 27 Jun 2025CA$13.1bCA$19.9bCA$954.6m9.7x13.7x0.7x
Sun, 25 May 2025CA$12.3bCA$19.9bCA$955.3m8.6x12.8x0.6x
Tue, 22 Apr 2025CA$11.3bCA$19.6bCA$881.8m7.3x12.8x0.6x
Thu, 20 Mar 2025CA$12.2bCA$19.8bCA$871.0m8.7x14x0.6x
Sat, 15 Feb 2025CA$13.3bCA$19.8bCA$1.0b9.9x13.2x0.7x
Mon, 13 Jan 2025CA$14.2bCA$19.9bCA$1.1b10.3x12.5x0.7x
Wed, 11 Dec 2024CA$14.1bCA$19.7bCA$1.1b10.6x12.4x0.7x
Fri, 08 Nov 2024CA$13.4bCA$19.5bCA$1.1b10.4x12x0.7x
Sun, 06 Oct 2024CA$12.6bCA$19.4bCA$1.2b9.1x10.3x0.6x
Tue, 03 Sep 2024CA$15.8bCA$29.3bCA$1.8b8.8x8.9x0.5x
Thu, 01 Aug 2024CA$16.1bCA$29.2bCA$1.8b8.2x8.9x0.6x
Sat, 29 Jun 2024CA$15.6bCA$28.3bCA$1.8b8.4x8.6x0.5x
Mon, 27 May 2024CA$15.0bCA$28.3bCA$1.8b7.7x8.3x0.5x
Wed, 24 Apr 2024CA$14.9bCA$27.4bCA$1.5b7.9x9.6x0.5x
Fri, 22 Mar 2024CA$14.3bCA$27.4bCA$1.6b7.3x9.2x0.5x
Sun, 18 Feb 2024CA$13.9bCA$27.5bCA$1.3b6.9x10.6x0.5x
Tue, 16 Jan 2024CA$13.1bCA$28.1bCA$1.2b7.4x11x0.5x
Thu, 14 Dec 2023CA$11.9bCA$28.1bCA$1.2b7x10x0.4x
Sat, 11 Nov 2023CA$12.3bCA$28.2bCA$1.3b7.9x9.8x0.4x
Mon, 09 Oct 2023CA$12.4bCA$27.1bCA$1.2b7.5x10.3x0.5x
Wed, 06 Sep 2023CA$13.7bCA$27.1bCA$1.2b8x11.3x0.5x
Fri, 04 Aug 2023CA$13.1bCA$26.1bCA$1.1b7.9x12.2x0.5x
Sun, 02 Jul 2023CA$11.8bCA$26.3bCA$1.1b7.2x10.6x0.4x
Price to Earnings Ratio

10.6x


Total Market Cap: CA$11.8bTotal Earnings: CA$1.1bTotal Revenue: CA$26.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Energy Services Industry Price to Earnings3Y Average 13.4x202420252026
Current Industry PE
  • Investors are optimistic on the Canadian Energy Services industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 26.1x which is higher than its 3-year average PE of 13.4x.
  • The industry is trading close to its 3-year average PS ratio of 0.64x.
Past Earnings Growth
  • The earnings for companies in the Energy Services industry have declined 12% per year over the last three years,
  • Revenues have also declined 7.3% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

Which industries have driven the changes within the Canadian Energy industry?

CA Market-1.81%
Energy-1.11%
Energy Services-0.029%
Oil and Gas Services1.39%
Oil and Gas Drilling-6.57%
Industry PE
  • Investors are most optimistic about the Oil and Gas Services industry which is trading above its 3-year average PE ratio of 13.8x.
    • Analysts are expecting annual earnings growth of 22.6%, which is higher than its past year's earnings decline of 11.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Oil and Gas Drilling industry, expecting annual earnings growth of 80% over the next 5 years.
  • This is better than its past earnings decline of 50% per year.
  • In contrast, the Oil and Gas Services industry is expected to see its earnings grow by 23% per year over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
CEU CES Energy SolutionsCA$16.235.9%
+CA$191.9m		145.5%PE16.2x
EFX EnerflexCA$34.282.5%
+CA$103.8m		221.0%PE35.4x
TVK TerraVest IndustriesCA$119.103.0%
+CA$74.8m		-29.4%PE35.4x
MATR MattrCA$12.614.3%
+CA$31.9m		7.5%PE101.6x
NOA North American Construction GroupCA$19.080.8%
+CA$4.3m		-15.0%PE15.6x

Latest News

EFX
CA$34.28
Enerflex
7D
2.5%
1Y
221.0%
CEU
CA$16.23
CES Energy Solutions
7D
5.9%
1Y
145.5%
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$119.10
TerraVest Industries
7D
3.0%
1Y
-29.4%
MATR
CA$12.61
Mattr
7D
4.3%
1Y
7.5%
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.
FLNT
CA$1.41
Flint
7D
-11.9%
1Y
41.0%
NOA
CA$19.08
North American Construction Group
7D
0.8%
1Y
-15.0%
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$21.19
Total Energy Services
7D
-2.6%
1Y
94.4%
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.
PHX
CA$10.39
PHX Energy Services
7D
-2.4%
1Y
24.6%
TCW
CA$6.66
Trican Well Service
7D
-3.9%
1Y
47.3%
PD
CA$110.66
Precision Drilling
7D
-8.7%
1Y
75.0%
ESI
CA$3.31
Ensign Energy Services
7D
-7.0%
1Y
48.4%
Narrative Update • Jun 14

ESI: Future Returns Will Reflect Execution Versus Modest P/E Repricing Expectations

Analysts have lifted their average price target on Ensign Energy Services by CA$0.25, reflecting updated views on the stock after recent research from several firms. Analyst Commentary Several bullish analysts have lifted their price targets on Ensign Energy Services by CA$0.25.
PSI
CA$12.02
Pason Systems
7D
-7.2%
1Y
-2.1%
Narrative Update • Jun 09

PSI: Higher Margin Confidence And Buybacks Will Support Future Upside Potential

Analysts have lifted their price target on Pason Systems by CA$2 to reflect updated assumptions for the discount rate, profit margin and future P/E, supported by recent research that includes a higher target from BMO Capital and an upgrade at TD Securities. Analyst Commentary Recent research points to a more constructive stance on Pason Systems, with the revised CA$2 higher price target and a fresh upgrade both tied to updated assumptions for discount rate, profit margin and future P/E.
ACX
CA$5.78
ACT Energy Technologies
7D
-6.5%
1Y
25.4%
QST
CA$0.28
Questor Technology
7D
14.3%
1Y
-29.1%
SDI
CA$0.23
Stampede Drilling
7D
4.7%
1Y
66.7%
WRG
CA$3.33
Western Energy Services
7D
3.1%
1Y
62.4%