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Canadian (TSX) Energy Services Industry Analysis

UpdatedApr 30, 2026
DataAggregated Company Financials
Companies25
  • 7D5.9%
  • 3M22.6%
  • 1Y85.7%
  • YTD29.2%

Over the last 7 days, the Energy Services industry has risen 5.9%, driven by gains from Enerflex of 7.7%. Meanwhile, Flint actually underperformed within the industry, shrinking 13% in the last week. This means that the industry has gained 86% over the past year. Earnings are forecast to grow by 29% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 30 Apr 2026CA$20.7bCA$20.7bCA$864.9m12.6x23.9x1x
Sat, 28 Mar 2026CA$20.0bCA$20.7bCA$865.7m11.5x23.1x1x
Mon, 23 Feb 2026CA$18.6bCA$20.5bCA$908.9m12.4x20.4x0.9x
Wed, 21 Jan 2026CA$16.7bCA$20.3bCA$959.1m12.5x17.4x0.8x
Fri, 19 Dec 2025CA$15.6bCA$20.3bCA$958.4m10.5x16.3x0.8x
Sun, 16 Nov 2025CA$14.3bCA$21.1bCA$948.0m11.8x15.1x0.7x
Tue, 14 Oct 2025CA$13.8bCA$20.3bCA$986.3m11.1x14x0.7x
Thu, 11 Sep 2025CA$13.7bCA$20.2bCA$984.5m10.5x13.9x0.7x
Sat, 09 Aug 2025CA$13.6bCA$20.0bCA$1.0b9.4x13x0.7x
Mon, 07 Jul 2025CA$13.6bCA$19.8bCA$954.4m11.2x14.3x0.7x
Wed, 04 Jun 2025CA$12.6bCA$19.9bCA$955.3m8.9x13.2x0.6x
Fri, 02 May 2025CA$11.2bCA$19.6bCA$891.3m7.4x12.6x0.6x
Sun, 30 Mar 2025CA$12.5bCA$19.8bCA$871.3m8.9x14.3x0.6x
Tue, 25 Feb 2025CA$13.0bCA$19.8bCA$1.0b9.5x12.9x0.7x
Thu, 23 Jan 2025CA$14.4bCA$19.8bCA$1.1b10.5x12.7x0.7x
Sat, 21 Dec 2024CA$13.7bCA$19.8bCA$1.1b10.3x12.1x0.7x
Mon, 18 Nov 2024CA$13.8bCA$19.6bCA$1.1b10.3x12.6x0.7x
Wed, 16 Oct 2024CA$12.2bCA$19.4bCA$1.2b9.2x10.1x0.6x
Fri, 13 Sep 2024CA$11.9bCA$19.4bCA$1.2b8.2x9.8x0.6x
Sun, 11 Aug 2024CA$14.9bCA$29.2bCA$1.8b8.4x8.5x0.5x
Tue, 09 Jul 2024CA$15.5bCA$28.3bCA$1.8b8.1x8.6x0.5x
Thu, 06 Jun 2024CA$14.8bCA$28.3bCA$1.8b7.6x8.2x0.5x
Sat, 04 May 2024CA$14.9bCA$28.4bCA$1.9b7.6x7.9x0.5x
Mon, 01 Apr 2024CA$14.5bCA$27.5bCA$1.5b7.8x9.4x0.5x
Wed, 28 Feb 2024CA$13.7bCA$27.7bCA$1.4b7x10x0.5x
Fri, 26 Jan 2024CA$13.8bCA$28.1bCA$1.2b8x11.7x0.5x
Sun, 24 Dec 2023CA$12.8bCA$28.1bCA$1.2b7.2x10.8x0.5x
Tue, 21 Nov 2023CA$12.3bCA$28.1bCA$1.2b7.9x10.3x0.4x
Thu, 19 Oct 2023CA$12.4bCA$27.1bCA$1.2b7.8x10.3x0.5x
Sat, 16 Sep 2023CA$13.7bCA$27.1bCA$1.2b8.4x11.4x0.5x
Mon, 14 Aug 2023CA$13.2bCA$27.1bCA$1.2b8x10.9x0.5x
Wed, 12 Jul 2023CA$12.1bCA$26.3bCA$1.1b7.3x10.9x0.5x
Fri, 09 Jun 2023CA$11.3bCA$26.3bCA$1.1b7.1x10.2x0.4x
Sun, 07 May 2023CA$11.3bCA$25.3bCA$902.9m8.5x12.5x0.4x
Price to Earnings Ratio

12.5x


Total Market Cap: CA$11.3bTotal Earnings: CA$902.9mTotal Revenue: CA$25.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Energy Services Industry Price to Earnings3Y Average 12.6x202420252026
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 23.9x which is higher than its 3-year average PE of 12.6x.
  • The 3-year average PS ratio of 0.61x 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 remained mostly flat over the last three years.
  • Meanwhile revenues for these companies have declined 6.6% per year.
  • This means that the cost of doing business could be reducing since sales have declined but profits have remained steady.

Industry Trends

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

CA Market-1.68%
Energy4.56%
Energy Services5.94%
Oil and Gas Drilling11.32%
Oil and Gas Services4.86%
Industry PE
  • Investors are most optimistic about the Oil and Gas Drilling industry which is trading above its 3-year average PE ratio of 16.2x.
    • Analysts are expecting annual earnings growth of 59.0%, 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 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
EFX EnerflexCA$36.057.7%
+CA$316.0m		299.7%PE50.2x
PD Precision DrillingCA$140.0315.3%
+CA$240.2m		142.8%PE984.5x
CEU CES Energy SolutionsCA$19.204.7%
+CA$183.6m		215.8%PE19.8x
TCW Trican Well ServiceCA$7.3310.7%
+CA$149.2m		81.0%PE13.7x
PSI Pason SystemsCA$13.887.0%
+CA$70.5m		26.4%PE20.3x

Latest News

ESI
CA$3.91
Ensign Energy Services
7D
6.3%
1Y
111.4%
TOT
CA$23.78
Total Energy Services
7D
4.4%
1Y
168.4%

TOT: Future Returns Will Depend On Ongoing Buybacks And Steady Fundamentals

Analysts have kept their fair value estimate for Total Energy Services steady at CA$24.00. They made only small tweaks to the discount rate, revenue growth, profit margin, and future P/E assumptions behind the unchanged price target.
CEU
CA$19.20
CES Energy Solutions
7D
4.7%
1Y
215.8%

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

Analysts have nudged the fair value estimate for CES Energy Solutions higher to CA$20.69, reflecting recent price target increases to a range of CA$18 to CA$20 and updated views on valuation and P/E assumptions. Analyst Commentary Recent Street research on CES Energy Solutions points to a mix of optimism and caution, with multiple firms updating price targets and ratings as the share price has moved closer to their valuation frameworks.
PD
CA$140.03
Precision Drilling
7D
15.3%
1Y
142.8%

PD: Lower Future P/E Multiple Will Likely Pressure Shares Despite Buyback

Analysts have adjusted their price target on Precision Drilling from CA$123.00 to CA$110.24, citing updated assumptions for revenue growth, profit margins, and a lower future P/E multiple. What's in the News Precision Drilling completed a share repurchase of 289,118 shares, representing 2.19% of its outstanding shares, between October 1, 2025 and March 9, 2026 under a previously announced buyback program.
EFX
CA$36.05
Enerflex
7D
7.7%
1Y
299.7%
MATR
CA$9.49
Mattr
7D
-0.4%
1Y
-0.3%

MATR: 2026 Demand Uncertainty Will Restrain Upside Despite Higher Price Goals

Analysts have lifted their average CA$ price target on Mattr by about CA$1 overall. This reflects updated views on the shares after a series of recent target moves from CA$8 to CA$13 across several firms.
FLNT
CA$1.52
Flint
7D
-13.1%
1Y
52.0%
TCW
CA$7.33
Trican Well Service
7D
10.7%
1Y
81.0%

TCW: Higher C$7 Outlook And Completed Buybacks Will Shape Balanced Future

Analysts have lifted their average price target for Trican Well Service to about CA$7.79 from roughly CA$7.61. They cite updated assumptions around revenue growth, profit margins and P/E multiples, supported by recent CA$0.50 to CA$1.25 target increases from the Street.
CPS
CA$0.10
Canadian Premium Sand
7D
-4.8%
1Y
-54.5%
PHX
CA$12.64
PHX Energy Services
7D
8.0%
1Y
67.0%
CTEK
CA$0.67
Cleantek Industries
7D
-16.3%
1Y
109.4%
PSD
CA$4.00
Pulse Seismic
7D
-5.0%
1Y
53.3%
PSI
CA$13.88
Pason Systems
7D
7.0%
1Y
26.4%
HOH
CA$1.31
High Arctic Overseas Holdings
7D
-5.1%
1Y
33.7%