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

Canadian (TSX) Energy Services Industry Analysis

UpdatedMay 26, 2026
DataAggregated Company Financials
Companies25
  • 7D-1.4%
  • 3M12.6%
  • 1Y74.1%
  • YTD30.2%

Over the last 7 days, the Energy Services industry has dropped 1.4%, driven by Enerflex declining 5.0%. On the other hand TerraVest Industries is actually up 10%. This takes the industry's 12 month performance to a gain of 74%. Looking forward, earnings are forecast to grow by 33% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 27 May 2026CA$21.8bCA$20.9bCA$743.9m17.8x29.3x1x
Fri, 24 Apr 2026CA$19.8bCA$20.7bCA$865.0m12.6x22.9x1x
Sun, 22 Mar 2026CA$19.7bCA$20.7bCA$876.4m11x22.5x1x
Tue, 17 Feb 2026CA$18.3bCA$20.5bCA$903.7m13.2x20.2x0.9x
Thu, 15 Jan 2026CA$16.8bCA$20.3bCA$959.8m11.9x17.5x0.8x
Sat, 13 Dec 2025CA$16.4bCA$21.2bCA$950.4m11.1x17.2x0.8x
Mon, 10 Nov 2025CA$14.1bCA$21.1bCA$946.4m11.4x14.9x0.7x
Wed, 08 Oct 2025CA$14.7bCA$20.3bCA$985.7m11.9x14.9x0.7x
Fri, 05 Sep 2025CA$13.7bCA$20.2bCA$984.0m10.1x13.9x0.7x
Sun, 03 Aug 2025CA$13.5bCA$19.9bCA$974.4m9.6x13.9x0.7x
Tue, 01 Jul 2025CA$13.1bCA$19.9bCA$954.5m9.6x13.7x0.7x
Thu, 29 May 2025CA$12.4bCA$19.9bCA$956.1m9.7x13x0.6x
Sat, 26 Apr 2025CA$11.4bCA$19.6bCA$891.3m7.8x12.8x0.6x
Mon, 24 Mar 2025CA$12.6bCA$19.8bCA$858.3m8.7x14.7x0.6x
Wed, 19 Feb 2025CA$13.2bCA$19.8bCA$1.0b10.2x13x0.7x
Fri, 17 Jan 2025CA$14.5bCA$19.8bCA$1.1b10.3x12.7x0.7x
Sun, 15 Dec 2024CA$14.0bCA$19.8bCA$1.1b10.5x12.3x0.7x
Tue, 12 Nov 2024CA$13.6bCA$19.6bCA$1.1b10.4x12x0.7x
Thu, 10 Oct 2024CA$12.3bCA$19.4bCA$1.2b9x10.1x0.6x
Sat, 07 Sep 2024CA$11.9bCA$19.4bCA$1.2b8.4x9.8x0.6x
Mon, 05 Aug 2024CA$15.2bCA$29.2bCA$1.8b9.4x8.7x0.5x
Wed, 03 Jul 2024CA$15.7bCA$28.3bCA$1.8b8.3x8.7x0.6x
Fri, 31 May 2024CA$15.1bCA$28.3bCA$1.8b7.7x8.3x0.5x
Sun, 28 Apr 2024CA$15.3bCA$28.3bCA$1.9b7.8x8.3x0.5x
Tue, 26 Mar 2024CA$14.3bCA$27.4bCA$1.5b7.6x9.2x0.5x
Thu, 22 Feb 2024CA$13.6bCA$27.4bCA$1.3b6.8x10.2x0.5x
Sat, 20 Jan 2024CA$13.2bCA$28.1bCA$1.2b7.4x11.1x0.5x
Mon, 18 Dec 2023CA$12.3bCA$28.1bCA$1.2b7.2x10.4x0.4x
Wed, 15 Nov 2023CA$12.5bCA$28.2bCA$1.3b8.2x9.9x0.4x
Fri, 13 Oct 2023CA$12.6bCA$27.1bCA$1.2b7.8x10.4x0.5x
Sun, 10 Sep 2023CA$13.9bCA$27.1bCA$1.2b8.3x11.5x0.5x
Tue, 08 Aug 2023CA$13.2bCA$26.2bCA$1.1b7.8x11.6x0.5x
Thu, 06 Jul 2023CA$11.8bCA$26.3bCA$1.1b7.2x10.6x0.4x
Sat, 03 Jun 2023CA$11.4bCA$26.3bCA$1.1b7.1x10.4x0.4x
Price to Earnings Ratio

10.4x


Total Market Cap: CA$11.4bTotal Earnings: CA$1.1bTotal Revenue: CA$26.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Energy Services Industry Price to Earnings3Y Average 13x202420252026
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 29.3x which is higher than its 3-year average PE of 12.9x.
  • The 3-year average PS ratio of 0.63x is lower than the industry's current PS ratio of 1.0x.
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 7.5% 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 Market2.45%
Energy-1.21%
Energy Services-1.43%
Oil and Gas Services-1.05%
Oil and Gas Drilling-3.25%
Industry PE
  • Investors are most optimistic about the Oil and Gas Services industry which is trading above its 3-year average PE ratio of 13.5x.
    • Analysts are expecting annual earnings growth of 23.6%, which is higher than its past year's earnings decline of 11.9% per year.
Forecasted Growth
  • Analysts are most optimistic on the Oil and Gas Drilling industry, expecting annual earnings growth of 81% 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 24% 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
TVK TerraVest IndustriesCA$157.6524.0%
+CA$662.3m		-2.5%PE46.8x
PSI Pason SystemsCA$14.502.7%
+CA$29.7m		20.2%PE24.3x
MATR MattrCA$12.851.7%
+CA$12.9m		32.5%PE103.5x
HOH High Arctic Overseas HoldingsCA$1.8121.5%
+CA$4.0m		69.2%n/a
MCB McCoy GlobalCA$2.262.3%
+CA$1.4m		-36.1%PE12.5x

Latest News

TVK
CA$157.65
TerraVest Industries
7D
24.0%
1Y
-2.5%
CEU
CA$18.21
CES Energy Solutions
7D
-3.8%
1Y
191.4%
PHX
CA$11.23
PHX Energy Services
7D
-6.2%
1Y
38.3%
TOT
CA$26.12
Total Energy Services
7D
-2.4%
1Y
156.1%
MATR
CA$12.85
Mattr
7D
1.7%
1Y
32.5%
Narrative Update • May 24

MATR: 2026 Guidance Strength And Order Visibility Will Limit Further Upside

Analysts have raised the implied fair value for Mattr from CA$8.00 to CA$12.00, citing higher price targets supported by stronger 2026 guidance, improved views on revenue growth and margins, and recent upgrades to Outperform and Buy ratings across several firms. Analyst Commentary Recent research coverage on Mattr reflects a mix of optimism and caution, with several firms adjusting targets and ratings following what some described as strong Q1 results and higher 2026 guidance.
MCB
CA$2.26
McCoy Global
7D
2.3%
1Y
-36.1%
QST
CA$0.28
Questor Technology
7D
1.8%
1Y
-47.2%
PD
CA$128.01
Precision Drilling
7D
-7.0%
1Y
116.7%
CFW
CA$5.97
Calfrac Well Services
7D
-4.3%
1Y
80.9%
Narrative Update • May 20

CFW: Higher Fair Value Assumptions Will Support Re Rating Potential

Narrative Update The analyst price target for Calfrac Well Services has been raised from CA$7.50 to CA$8.00, supported by analysts pointing to updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E expectations. Analyst Commentary Recent research highlights a more constructive stance on Calfrac Well Services, with analysts revisiting their assumptions around fair value and risk.
TCW
CA$7.89
Trican Well Service
7D
-1.6%
1Y
81.8%
EFX
CA$37.35
Enerflex
7D
-3.3%
1Y
275.0%
PSI
CA$14.50
Pason Systems
7D
2.7%
1Y
20.2%
ESI
CA$4.29
Ensign Energy Services
7D
-9.5%
1Y
118.9%
Narrative Update • May 13

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

Narrative Update Analysts have lifted Ensign Energy Services' price target by CA$0.25 to CA$3.50. This reflects updated views on fair value, risk and earnings assumptions following recent research from multiple firms.
CTEK
CA$0.70
Cleantek Industries
7D
4.5%
1Y
70.7%
HOH
CA$1.81
High Arctic Overseas Holdings
7D
21.5%
1Y
69.2%