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Canadian (TSX) Energy Services Industry Analysis

UpdatedJun 13, 2026
DataAggregated Company Financials
Companies25
  • 7D0.7%
  • 3M4.2%
  • 1Y50.0%
  • YTD21.9%

The Energy Services is pretty flat in the last 7 days, but TerraVest Industries has stood out, gaining 9.2%. The past year has been better, since the industry has gained 50% in that time. 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
Sat, 13 Jun 2026CA$19.8bCA$20.9bCA$745.4m16.8x26.6x0.9x
Mon, 11 May 2026CA$20.1bCA$20.6bCA$808.3m18x24.9x1x
Wed, 08 Apr 2026CA$19.2bCA$20.7bCA$866.3m12.5x22.2x0.9x
Fri, 06 Mar 2026CA$19.2bCA$20.6bCA$795.9m12.6x24.1x0.9x
Sun, 01 Feb 2026CA$17.0bCA$20.3bCA$956.1m12.7x17.8x0.8x
Tue, 30 Dec 2025CA$16.0bCA$20.3bCA$957.2m11.4x16.7x0.8x
Thu, 27 Nov 2025CA$14.6bCA$21.1bCA$947.5m11.2x15.4x0.7x
Sat, 25 Oct 2025CA$14.6bCA$20.2bCA$939.2m12.3x15.6x0.7x
Mon, 22 Sep 2025CA$13.8bCA$20.2bCA$983.5m11x14.1x0.7x
Wed, 20 Aug 2025CA$13.2bCA$20.2bCA$983.2m9.3x13.4x0.6x
Fri, 18 Jul 2025CA$13.5bCA$19.9bCA$955.5m11.3x14.1x0.7x
Sun, 15 Jun 2025CA$13.3bCA$19.8bCA$954.3m9.7x14x0.7x
Tue, 13 May 2025CA$11.9bCA$19.7bCA$920.1m7.7x13x0.6x
Thu, 10 Apr 2025CA$10.5bCA$19.7bCA$881.6m7.7x12x0.5x
Sat, 08 Mar 2025CA$11.4bCA$19.9bCA$952.3m8.6x12x0.6x
Mon, 03 Feb 2025CA$13.7bCA$19.9bCA$1.1b9.9x12.1x0.7x
Wed, 01 Jan 2025CA$13.9bCA$19.8bCA$1.1b10.4x12.2x0.7x
Fri, 29 Nov 2024CA$13.9bCA$19.7bCA$1.1b10.7x12.2x0.7x
Sun, 27 Oct 2024CA$12.2bCA$19.4bCA$1.2b9.4x10.1x0.6x
Tue, 24 Sep 2024CA$12.3bCA$19.4bCA$1.2b8.6x10.1x0.6x
Thu, 22 Aug 2024CA$15.3bCA$29.3bCA$1.8b8.3x8.6x0.5x
Sat, 20 Jul 2024CA$16.0bCA$28.4bCA$1.8b8.1x8.9x0.6x
Mon, 17 Jun 2024CA$14.9bCA$28.4bCA$1.8b8x8.2x0.5x
Wed, 15 May 2024CA$14.9bCA$28.3bCA$1.8b7.6x8.1x0.5x
Fri, 12 Apr 2024CA$15.6bCA$27.5bCA$1.5b7.9x10.1x0.6x
Sun, 10 Mar 2024CA$14.3bCA$27.8bCA$1.5b7.2x9.7x0.5x
Tue, 06 Feb 2024CA$13.2bCA$27.4bCA$1.2b7.5x11.5x0.5x
Thu, 04 Jan 2024CA$12.7bCA$28.1bCA$1.2b7.1x10.7x0.5x
Sat, 02 Dec 2023CA$12.2bCA$28.1bCA$1.2b7.6x10.2x0.4x
Mon, 30 Oct 2023CA$12.1bCA$27.1bCA$1.2b7.9x10.1x0.4x
Wed, 27 Sep 2023CA$13.3bCA$27.1bCA$1.2b8.3x11x0.5x
Fri, 25 Aug 2023CA$13.1bCA$27.1bCA$1.2b7.8x10.9x0.5x
Sun, 23 Jul 2023CA$12.9bCA$26.3bCA$1.1b7.9x11.6x0.5x
Tue, 20 Jun 2023CA$11.3bCA$26.3bCA$1.1b7x10.2x0.4x
Price to Earnings Ratio

10.2x


Total Market Cap: CA$11.3bTotal Earnings: CA$1.1bTotal Revenue: CA$26.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Energy Services Industry Price to Earnings3Y Average 13.2x202420252026
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 26.6x which is higher than its 3-year average PE of 13.2x.
  • 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 7.4% 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 Market1.43%
Energy-0.18%
Energy Services0.74%
Oil and Gas Services0.74%
Oil and Gas Drilling0.70%
Industry PE
  • Investors are most optimistic about the Oil and Gas Services industry which is trading above its 3-year average PE ratio of 13.7x.
    • Analysts are expecting annual earnings growth of 22.4%, 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 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 22% 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$118.329.2%
+CA$215.1m		-29.5%PE35.2x
CFW Calfrac Well ServicesCA$6.6810.2%
+CA$62.3m		90.9%PE12.7x
PD Precision DrillingCA$133.893.1%
+CA$52.4m		93.3%PS0.9x
EFX EnerflexCA$33.900.7%
+CA$29.3m		214.5%PE35.7x
PSD Pulse SeismicCA$3.343.7%
+CA$6.1m		11.0%PE20.2x

Latest News

TVK
CA$118.32
TerraVest Industries
7D
9.2%
1Y
-29.5%
MATR
CA$12.84
Mattr
7D
-1.3%
1Y
12.8%
PD
CA$133.89
Precision Drilling
7D
3.1%
1Y
93.3%
Narrative Update • Jun 10

PD: Lower Future P/E Will Likely Weigh On Shares Despite Buybacks

Analysts have nudged their price target on Precision Drilling slightly higher to about CA$111 from roughly CA$110, citing updated assumptions around modestly different revenue growth, profit margin outlook, and a lower future P/E multiple. What's in the News Precision Drilling has been active under its share repurchase program announced on September 11, 2025, which authorizes buybacks of its stock.
PSI
CA$13.45
Pason Systems
7D
-2.9%
1Y
3.5%
Narrative Update • Jun 09

PSI: Higher Margin Confidence And Buybacks Will Support Future Upside Potential

Analysts have lifted their price target on Pason Systems by CA$2 to reflect updated assumptions for the discount rate, profit margin and future P/E, supported by recent research that includes a higher target from BMO Capital and an upgrade at TD Securities. Analyst Commentary Recent research points to a more constructive stance on Pason Systems, with the revised CA$2 higher price target and a fresh upgrade both tied to updated assumptions for discount rate, profit margin and future P/E.
TCW
CA$7.37
Trican Well Service
7D
-1.6%
1Y
58.5%
TOT
CA$24.08
Total Energy Services
7D
-2.4%
1Y
119.1%
Narrative Update • Jun 07

TOT: Future Returns Will Be Driven By Completed Share Repurchases

Analysts have kept their fair value estimate for Total Energy Services steady at CA$32.00. A slightly higher assumed future P/E multiple helps explain the unchanged price target, despite minor tweaks to discount rate and margin inputs.
PHX
CA$11.26
PHX Energy Services
7D
0.6%
1Y
32.5%
CEU
CA$16.81
CES Energy Solutions
7D
-2.5%
1Y
142.9%
Narrative Update • Jun 05

CEU: Refinancing And Capital Returns Will Support Move Toward CA$21

CES Energy Solutions' analyst price target remains aligned around CA$20, as several firms nudged targets higher while others shifted to more neutral ratings. Analysts cited valuation as the key factor behind the updated stance.
CFW
CA$6.68
Calfrac Well Services
7D
10.2%
1Y
90.9%
NOA
CA$18.92
North American Construction Group
7D
-1.4%
1Y
-22.4%
Narrative Update • Jun 04

NOA: Higher Revenue Outlook For 2026 Will Support Stronger Share Repurchases

Analysts have lifted their price target on North American Construction Group to CA$22.00 from CA$19.00, citing updated assumptions that include revised revenue growth expectations, a slightly adjusted discount rate, a refined profit margin outlook, and a lower future P/E multiple. What's in the News Company maintained earnings guidance for 2026, with combined revenue targeted in the range of $1.5b to $1.7b.
EFX
CA$33.90
Enerflex
7D
0.7%
1Y
214.5%
Narrative Update • Jun 04

EFX: Future Cash Returns Will Reflect LNG And Data Center Demand Tailwinds

Enerflex's analyst price target has been updated from CA$39.36 to CA$44.50, as analysts factor in recent research that highlights the company's plans to drive growth, expand margins, and create shareholder value outlined in its virtual investor update. Analyst Commentary Recent Street research on Enerflex has been broadly constructive, with several bullish analysts lifting their price targets following the virtual investor update.
PSD
CA$3.34
Pulse Seismic
7D
3.7%
1Y
11.0%
ESI
CA$3.91
Ensign Energy Services
7D
-1.8%
1Y
60.9%
Narrative Update • May 30

ESI: Future Returns Will Depend On Earnings Power And P/E Reset

Analysts have nudged their fair value estimate for Ensign Energy Services higher, with the implied analyst price target moving from about CA$4.25 to roughly CA$4.29, supported by recent CA$0.25 target increases from several brokerages. Analyst Commentary Recent research updates on Ensign Energy Services have focused on modest price target adjustments, with several bullish analysts lifting their targets by CA$0.25 and one earlier move taking a target to CA$3.50 from CA$3.
SHLE
CA$13.77
Source Energy Services
7D
-5.0%
1Y
12.2%
MCB
CA$2.23
McCoy Global
7D
4.7%
1Y
-46.3%
CPS
CA$0.095
Canadian Premium Sand
7D
5.6%
1Y
-60.4%