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Canadian (TSX) Energy Services Industry Analysis

UpdatedJan 15, 2026
DataAggregated Company Financials
Companies25
  • 7D9.3%
  • 3M26.1%
  • 1Y18.4%
  • YTD4.8%

The Energy Services industry is up 9.3% in the last week, with CES Energy Solutions up 15%. In the same time, AKITA Drilling was down 5.5%. This takes the industry's 12 month performance to a gain of 18%. As for the next few years, earnings are expected to grow by 17% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 16 Jan 2026CA$16.8bCA$20.3bCA$959.8m11.9x17.5x0.8x
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
Sun, 04 Jun 2023CA$11.4bCA$26.3bCA$1.1b7.1x10.4x0.4x
Tue, 02 May 2023CA$11.3bCA$24.8bCA$847.9m8.7x13.3x0.5x
Thu, 30 Mar 2023CA$11.5bCA$24.2bCA$656.9m8.9x17.5x0.5x
Sat, 25 Feb 2023CA$13.1bCA$22.6bCA$303.5m11.1x43.1x0.6x
Mon, 23 Jan 2023CA$14.3bCA$22.3bCA$253.5m14x56.5x0.6x
Price to Earnings Ratio

56.5x


Total Market Cap: CA$14.3bTotal Earnings: CA$253.5mTotal Revenue: CA$22.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Energy Services Industry Price to Earnings3Y Average 13.7x202420252026
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 17.5x which is higher than its 3-year average PE of 13.7x.
  • The industry is trading close to its 3-year average PS ratio of 0.58x.
Past Earnings Growth
  • The earnings for companies in the Energy Services industry have grown 56% per year over the last three years.
  • Meanwhile revenues for these companies have declined 3.0% 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 Market2.82%
Energy7.39%
Energy Services9.28%
Oil and Gas Services9.69%
Oil and Gas Drilling7.03%
Industry PE
  • Investors are most optimistic about the Oil and Gas Drilling industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 38.7%, which is higher than its past year's earnings decline of 34.7% 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 14.0x.
Forecasted Growth
  • Analysts are most optimistic on the Oil and Gas Drilling industry, expecting annual earnings growth of 39% over the next 5 years.
  • This is better than its past earnings decline of 35% per year.
  • In contrast, the Oil and Gas Services industry is expected to see its earnings grow by 14% 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$13.5413.4%
+CA$337.1m		46.4%PE16x
EFX EnerflexCA$22.627.9%
+CA$201.0m		53.0%PE14.6x
TVK TerraVest IndustriesCA$163.294.0%
+CA$137.3m		33.4%PE40.9x
TCW Trican Well ServiceCA$6.357.6%
+CA$95.1m		21.2%PE12.4x
CFW Calfrac Well ServicesCA$4.9420.8%
+CA$84.1m		23.5%PE23.3x

Latest News

ESI
CA$2.84
Ensign Energy Services
7D
8.8%
1Y
-15.0%

Investors Will Want Ensign Energy Services' (TSE:ESI) Growth In ROCE To Persist

Jan 15
Investors Will Want Ensign Energy Services' (TSE:ESI) Growth In ROCE To Persist
EFX
CA$22.62
Enerflex
7D
7.9%
1Y
53.0%
CEU
CA$13.54
CES Energy Solutions
7D
13.4%
1Y
46.4%
CFW
CA$4.94
Calfrac Well Services
7D
20.8%
1Y
23.5%
CPS
CA$0.075
Canadian Premium Sand
7D
-6.3%
1Y
-77.3%
PSI
CA$12.30
Pason Systems
7D
5.9%
1Y
-15.2%

PSI: Future Share Buybacks Will Support Undervalued Upside Potential

Analysts have trimmed their price target for Pason Systems by about $0.70, reflecting slightly lower assumed revenue growth and P/E multiples, partly offset by a modestly higher profit margin outlook. What's in the News Pason Systems Inc.
PD
CA$103.36
Precision Drilling
7D
3.3%
1Y
8.8%

PD: Auditor Transition And Buybacks Will Support Stronger Future Share Performance

Analysts have modestly adjusted their price target on Precision Drilling, keeping fair value at $133.00 while fine tuning assumptions around the discount rate, revenue growth, profit margin and future P/E to reflect slightly updated views on the company’s earnings power and risk profile. What's in the News The board approved the appointment of PwC as the new auditor following a tender process.
TVK
CA$163.29
TerraVest Industries
7D
4.0%
1Y
33.4%
TCW
CA$6.35
Trican Well Service
7D
7.6%
1Y
21.2%
RFX
CA$0.15
Reeflex Solutions
7D
-3.2%
1Y
n/a
AKT.A
CA$1.95
AKITA Drilling
7D
-1.5%
1Y
11.4%
QST
CA$0.41
Questor Technology
7D
-2.4%
1Y
7.9%