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Canadian (TSX) Energy Services Industry Analysis

UpdatedJun 30, 2026
DataAggregated Company Financials
Companies25
  • 7D-2.5%
  • 3M-3.8%
  • 1Y46.0%
  • YTD16.3%

Over the last 7 days, the Energy Services industry has dropped 2.5%, driven by declines in TerraVest Industries and Enerflex of 6.9% and 3.6%, respectively. Meanwhile, CES Energy Solutions actually outperformed within the industry, gaining 8.2% in the last week. This takes the industry's 12 month performance to a gain of 46%. As for the next few years, earnings are expected to grow by 32% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 30 Jun 2026CA$19.1bCA$21.0bCA$747.2m16.7x25.5x0.9x
Thu, 28 May 2026CA$21.7bCA$20.9bCA$744.1m17.5x29.1x1x
Sat, 25 Apr 2026CA$20.4bCA$20.7bCA$864.8m12.8x23.6x1x
Mon, 23 Mar 2026CA$19.7bCA$20.7bCA$876.4m11x22.5x1x
Wed, 18 Feb 2026CA$18.3bCA$20.5bCA$903.9m13.1x20.2x0.9x
Fri, 16 Jan 2026CA$16.9bCA$20.3bCA$960.0m12.2x17.6x0.8x
Sun, 14 Dec 2025CA$16.2bCA$21.2bCA$950.4m11.1x17x0.8x
Tue, 11 Nov 2025CA$14.1bCA$21.1bCA$947.0m11.7x14.9x0.7x
Thu, 09 Oct 2025CA$14.6bCA$20.3bCA$985.7m11.8x14.8x0.7x
Sat, 06 Sep 2025CA$13.9bCA$20.2bCA$984.3m9.9x14.1x0.7x
Mon, 04 Aug 2025CA$13.5bCA$19.9bCA$974.4m9.6x13.9x0.7x
Wed, 02 Jul 2025CA$13.1bCA$19.9bCA$954.5m9.6x13.7x0.7x
Fri, 30 May 2025CA$12.4bCA$19.9bCA$955.9m8.7x13x0.6x
Sun, 27 Apr 2025CA$11.5bCA$19.6bCA$891.3m7.8x12.9x0.6x
Tue, 25 Mar 2025CA$12.6bCA$19.8bCA$858.2m8.7x14.7x0.6x
Thu, 20 Feb 2025CA$13.2bCA$19.8bCA$1.0b10.2x13x0.7x
Sat, 18 Jan 2025CA$14.4bCA$19.9bCA$1.1b10.3x12.7x0.7x
Mon, 16 Dec 2024CA$14.0bCA$19.8bCA$1.1b10.5x12.4x0.7x
Wed, 13 Nov 2024CA$13.8bCA$19.6bCA$1.1b10.3x12.1x0.7x
Fri, 11 Oct 2024CA$12.3bCA$19.4bCA$1.2b9.3x10.1x0.6x
Sun, 08 Sep 2024CA$11.9bCA$19.4bCA$1.2b8.4x9.8x0.6x
Tue, 06 Aug 2024CA$15.2bCA$29.2bCA$1.8b9.4x8.7x0.5x
Thu, 04 Jul 2024CA$15.6bCA$28.3bCA$1.8b8x8.6x0.6x
Sat, 01 Jun 2024CA$15.1bCA$28.3bCA$1.8b7.9x8.3x0.5x
Mon, 29 Apr 2024CA$15.3bCA$28.3bCA$1.9b7.8x8.3x0.5x
Wed, 27 Mar 2024CA$14.4bCA$27.4bCA$1.5b7.6x9.3x0.5x
Fri, 23 Feb 2024CA$13.7bCA$27.4bCA$1.3b6.8x10.3x0.5x
Sun, 21 Jan 2024CA$13.2bCA$28.1bCA$1.2b7.4x11.1x0.5x
Tue, 19 Dec 2023CA$12.3bCA$28.1bCA$1.2b7.2x10.4x0.4x
Thu, 16 Nov 2023CA$12.5bCA$28.1bCA$1.2b8x10.4x0.4x
Sat, 14 Oct 2023CA$12.5bCA$27.1bCA$1.2b7.8x10.3x0.5x
Mon, 11 Sep 2023CA$13.9bCA$27.1bCA$1.2b8.3x11.5x0.5x
Wed, 09 Aug 2023CA$13.4bCA$26.2bCA$1.1b7.9x11.7x0.5x
Fri, 07 Jul 2023CA$11.7bCA$26.3bCA$1.1b7.1x10.5x0.4x
Price to Earnings Ratio

10.5x


Total Market Cap: CA$11.7bTotal Earnings: CA$1.1bTotal Revenue: CA$26.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Energy Services Industry Price to Earnings3Y Average 13.5x202420252026
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 25.5x which is higher than its 3-year average PE of 13.5x.
  • 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-1.02%
Energy-1.95%
Energy Services-2.50%
Oil and Gas Services-1.54%
Oil and Gas Drilling-7.28%
Industry PE
  • Investors are most optimistic about the Oil and Gas Services industry which is trading above its 3-year average PE ratio of 13.9x.
    • Analysts are expecting annual earnings growth of 22.5%, 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 83% 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$16.668.2%
+CA$265.7m		151.3%PE16.7x
SDI Stampede DrillingCA$0.249.1%
+CA$3.9m		77.8%PE11.5x
PSD Pulse SeismicCA$3.422.1%
+CA$3.6m		11.0%PE20.7x
MATR MattrCA$12.860.4%
+CA$3.1m		7.1%PE103.6x
SHLE Source Energy ServicesCA$13.600.7%
+CA$1.2m		3.1%PE28.7x

Latest News

PD
CA$109.24
Precision Drilling
7D
-8.4%
1Y
69.4%
SHLE
CA$13.60
Source Energy Services
7D
0.7%
1Y
3.1%
ESI
CA$3.21
Ensign Energy Services
7D
-10.1%
1Y
42.7%
Narrative Update • Jun 28

ESI: Recent Price Objective Revisions Will Support Higher Forward P/E Multiple

Analysts have lifted their fair value estimate for Ensign Energy Services to CA$5.00 from CA$3.50, citing updated assumptions for revenue growth, profit margins, discount rate and future P/E, along with recent CA$0.25 price target increases from several firms. Analyst Commentary Recent research updates on Ensign Energy Services point to a cluster of price target moves, with several bullish analysts lifting their targets by CA$0.25.
PSI
CA$12.18
Pason Systems
7D
-3.5%
1Y
-0.8%
Narrative Update • Jun 25

PSI: Higher P/E Confidence And Buybacks Will Support Future Upside

Analysts have lifted their price target on Pason Systems by CA$2, citing updated assumptions on future P/E multiples and recent Street research that includes a target increase at BMO Capital and an upgrade at TD Securities. Analyst Commentary Recent research coverage on Pason Systems provides a mix of optimism and caution around the stock's valuation, its ability to execute on current plans, and the durability of its growth profile.
EFX
CA$35.29
Enerflex
7D
-3.6%
1Y
228.3%
CEU
CA$16.66
CES Energy Solutions
7D
8.2%
1Y
151.3%
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$113.29
TerraVest Industries
7D
-6.9%
1Y
-33.0%
MATR
CA$12.86
Mattr
7D
0.4%
1Y
7.1%
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.
TOT
CA$21.64
Total Energy Services
7D
-4.0%
1Y
100.4%
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$10.30
PHX Energy Services
7D
-5.1%
1Y
28.0%
TCW
CA$6.66
Trican Well Service
7D
-5.7%
1Y
47.7%
PSD
CA$3.42
Pulse Seismic
7D
2.1%
1Y
11.0%
RFX
CA$0.12
Reeflex Solutions
7D
9.1%
1Y
-25.0%
QST
CA$0.28
Questor Technology
7D
12.0%
1Y
-30.0%
SDI
CA$0.24
Stampede Drilling
7D
9.1%
1Y
77.8%