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

Canadian (TSX) Energy Services Industry Analysis

UpdatedApr 10, 2026
DataAggregated Company Financials
Companies25
  • 7D-0.2%
  • 3M18.8%
  • 1Y78.1%
  • YTD17.6%

Last week, the Energy Services industry hasn't moved much but Enerflex is up 4.1% in that time. As for the the longer term, the industry is up 78% over the past 12 months. As for the next few years, earnings are expected to grow by 25% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 11 Apr 2026CA$19.3bCA$20.7bCA$865.8m12.5x22.3x0.9x
Mon, 09 Mar 2026CA$19.0bCA$20.6bCA$804.7m12.5x23.6x0.9x
Wed, 04 Feb 2026CA$17.3bCA$20.3bCA$956.4m13x18.1x0.9x
Fri, 02 Jan 2026CA$15.9bCA$20.3bCA$957.6m11.4x16.6x0.8x
Sun, 30 Nov 2025CA$15.0bCA$21.1bCA$946.6m11.3x15.8x0.7x
Tue, 28 Oct 2025CA$14.7bCA$20.2bCA$939.1m12.4x15.7x0.7x
Thu, 25 Sep 2025CA$14.1bCA$20.2bCA$985.0m10.6x14.3x0.7x
Sat, 23 Aug 2025CA$13.4bCA$20.2bCA$982.7m10x13.6x0.7x
Mon, 21 Jul 2025CA$13.6bCA$19.9bCA$955.3m11.2x14.2x0.7x
Wed, 18 Jun 2025CA$13.3bCA$19.9bCA$954.7m9.8x13.9x0.7x
Fri, 16 May 2025CA$12.4bCA$19.9bCA$959.6m7.8x13x0.6x
Sun, 13 Apr 2025CA$11.0bCA$19.6bCA$882.1m7.3x12.4x0.6x
Tue, 11 Mar 2025CA$11.6bCA$19.9bCA$952.5m8.2x12.1x0.6x
Thu, 06 Feb 2025CA$13.6bCA$19.8bCA$1.1b10.2x12x0.7x
Sat, 04 Jan 2025CA$14.3bCA$19.9bCA$1.1b10.6x12.6x0.7x
Mon, 02 Dec 2024CA$14.0bCA$19.7bCA$1.1b10.6x12.3x0.7x
Wed, 30 Oct 2024CA$12.1bCA$19.4bCA$1.2b9.1x10x0.6x
Fri, 27 Sep 2024CA$12.1bCA$19.3bCA$1.2b8.5x10x0.6x
Sun, 25 Aug 2024CA$15.6bCA$29.3bCA$1.8b8.8x8.8x0.5x
Tue, 23 Jul 2024CA$15.6bCA$28.4bCA$1.8b8.4x8.7x0.5x
Thu, 20 Jun 2024CA$15.0bCA$28.3bCA$1.8b7.8x8.3x0.5x
Sat, 18 May 2024CA$15.0bCA$28.3bCA$1.8b8x8.3x0.5x
Mon, 15 Apr 2024CA$15.4bCA$27.5bCA$1.5b8.1x10x0.6x
Wed, 13 Mar 2024CA$14.3bCA$27.8bCA$1.5b7.1x9.8x0.5x
Fri, 09 Feb 2024CA$13.5bCA$27.4bCA$1.3b7x10.4x0.5x
Sun, 07 Jan 2024CA$12.9bCA$28.1bCA$1.2b7.4x10.9x0.5x
Tue, 05 Dec 2023CA$12.3bCA$28.1bCA$1.2b7.5x10.3x0.4x
Thu, 02 Nov 2023CA$12.1bCA$27.1bCA$1.2b7.5x10.2x0.4x
Sat, 30 Sep 2023CA$13.4bCA$27.1bCA$1.2b8.2x11.1x0.5x
Mon, 28 Aug 2023CA$13.2bCA$27.1bCA$1.2b7.9x10.9x0.5x
Wed, 26 Jul 2023CA$13.1bCA$26.3bCA$1.1b8.1x11.8x0.5x
Fri, 23 Jun 2023CA$11.4bCA$26.3bCA$1.1b6.8x10.3x0.4x
Sun, 21 May 2023CA$11.3bCA$26.3bCA$1.1b6.9x10.3x0.4x
Tue, 18 Apr 2023CA$11.7bCA$24.3bCA$669.1m9.1x17.5x0.5x
Price to Earnings Ratio

17.5x


Total Market Cap: CA$11.7bTotal Earnings: CA$669.1mTotal Revenue: CA$24.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Energy Services Industry Price to Earnings3Y Average 12.5x202420252026
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 22.3x which is higher than its 3-year average PE of 12.5x.
  • The industry is trading close to its 3-year average PS ratio of 0.60x.
Past Earnings Growth
  • The earnings for companies in the Energy Services industry have grown 9.6% per year over the last three years.
  • Meanwhile revenues for these companies have declined 5.1% per year.
  • This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.

Industry Trends

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

CA Market1.31%
Energy-2.25%
Energy Services-0.22%
Oil and Gas Services0.31%
Oil and Gas Drilling-2.59%
Industry PE
  • Investors are most optimistic about the Oil and Gas Drilling industry which is trading above its 3-year average PE ratio of 14.3x.
    • Analysts are expecting annual earnings growth of 58.9%, which is higher than its past year's earnings decline of 26.0% per year.
  • Investors are most pessimistic about the Oil and Gas Services industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 13.3x.
Forecasted Growth
  • Analysts are most optimistic on the Oil and Gas Drilling industry, expecting annual earnings growth of 59% over the next 5 years.
  • This is better than its past earnings decline of 26% per year.
  • In contrast, the Oil and Gas Services industry is expected to see its earnings grow by 18% 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
EFX EnerflexCA$29.645.9%
+CA$201.3m		227.2%PE40.8x
CEU CES Energy SolutionsCA$17.931.5%
+CA$54.8m		193.9%PE18.5x
FLNT FlintCA$1.7819.5%
+CA$31.9m		78.0%PE6.6x
MATR MattrCA$9.415.3%
+CA$28.8m		-0.8%PE12x
NOA North American Construction GroupCA$19.835.0%
+CA$26.3m		-0.2%PE16.2x

Latest News

CFW
CA$6.11
Calfrac Well Services
7D
-8.7%
1Y
95.8%
NOA
CA$19.83
North American Construction Group
7D
5.0%
1Y
-0.2%
CEU
CA$17.93
CES Energy Solutions
7D
1.5%
1Y
193.9%

CEU: Higher Dividend And Buybacks Will Support Re Rating Toward CA$20

Analysts have lifted the fair value estimate for CES Energy Solutions by CA$0.50 to CA$20.44, reflecting updated assumptions for revenue growth, profit margins and a higher future P/E multiple that align with recent Street targets in the CA$18 to CA$20 range. Analyst Commentary Bullish Takeaways Bullish analysts have clustered around price targets of CA$18 to CA$20, which is in line with the updated fair value estimate and suggests confidence that recent execution can support valuations in this range.
ESI
CA$3.46
Ensign Energy Services
7D
-1.7%
1Y
84.0%
PHX
CA$11.91
PHX Energy Services
7D
-4.4%
1Y
55.5%
MATR
CA$9.41
Mattr
7D
5.3%
1Y
-0.8%

MATR: 2026 Demand Headwinds And Margin Pressure Will Cap Return Potential

Narrative Update on Mattr Analysts have lifted the average CA$ price target on Mattr by CA$1, citing updated assumptions on discount rates, revenue growth, profit margins and future P/E that feed into their revised valuation work. Analyst Commentary Across recent research, several firms have lifted their price targets on Mattr, but the tone is not uniformly bullish.
TOT
CA$22.30
Total Energy Services
7D
1.5%
1Y
146.7%
PD
CA$127.81
Precision Drilling
7D
-2.5%
1Y
116.6%

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.
TCW
CA$7.26
Trican Well Service
7D
-1.4%
1Y
78.8%
ACX
CA$6.50
ACT Energy Technologies
7D
-5.5%
1Y
35.7%

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
EFX
CA$29.64
Enerflex
7D
5.9%
1Y
227.2%

EFX: Future Cash Returns Will Be Driven By Growing Share Repurchases

Enerflex's updated analyst price target has increased to CA$39 from CA$28, with analysts pointing to recent target increases at several firms as support for the revised outlook. Analyst Commentary Recent research updates on Enerflex show a mix of enthusiasm around upside potential and some caution around execution risks, which is useful context as you think about valuation and timing.
WRG
CA$2.79
Western Energy Services
7D
-10.3%
1Y
32.9%
TVK
CA$125.19
TerraVest Industries
7D
-3.8%
1Y
-5.1%
FLNT
CA$1.78
Flint
7D
19.5%
1Y
78.0%
AKT.A
CA$3.85
AKITA Drilling
7D
2.4%
1Y
126.5%
PSI
CA$13.12
Pason Systems
7D
0.4%
1Y
17.0%