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Canadian (TSX) Energy Services Industry Analysis

UpdatedMay 22, 2026
DataAggregated Company Financials
Companies25
  • 7D3.1%
  • 3M17.1%
  • 1Y82.9%
  • YTD34.3%

CES Energy Solutions is up 6.3%, leading the way for the Energy Services industry, which has gained 3.1%. This takes the industry's 12 month performance to a gain of 83%. As for the next few years, earnings are expected to grow by 33% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 22 May 2026CA$21.7bCA$20.9bCA$744.4m19x29.1x1x
Sun, 19 Apr 2026CA$19.0bCA$20.7bCA$865.0m12.1x21.9x0.9x
Tue, 17 Mar 2026CA$19.0bCA$20.8bCA$866.4m10.7x21.9x0.9x
Thu, 12 Feb 2026CA$17.8bCA$20.3bCA$955.5m13.4x18.7x0.9x
Sat, 10 Jan 2026CA$15.6bCA$20.4bCA$960.2m11.5x16.3x0.8x
Mon, 08 Dec 2025CA$15.4bCA$21.1bCA$944.6m11.9x16.3x0.7x
Wed, 05 Nov 2025CA$14.4bCA$20.3bCA$945.2m12.2x15.2x0.7x
Fri, 03 Oct 2025CA$14.6bCA$20.3bCA$985.8m10.8x14.8x0.7x
Sun, 31 Aug 2025CA$13.7bCA$20.2bCA$982.8m10x13.9x0.7x
Tue, 29 Jul 2025CA$13.6bCA$19.9bCA$964.2m9.6x14.1x0.7x
Thu, 26 Jun 2025CA$13.1bCA$19.9bCA$955.3m9.5x13.7x0.7x
Sat, 24 May 2025CA$11.8bCA$19.9bCA$955.3m8.6x12.4x0.6x
Mon, 21 Apr 2025CA$11.3bCA$19.6bCA$881.8m7.4x12.8x0.6x
Wed, 19 Mar 2025CA$12.1bCA$19.8bCA$871.0m8.4x13.9x0.6x
Fri, 14 Feb 2025CA$13.4bCA$19.8bCA$1.0b10.1x13.2x0.7x
Sun, 12 Jan 2025CA$14.2bCA$19.9bCA$1.1b10.3x12.5x0.7x
Tue, 10 Dec 2024CA$14.0bCA$19.7bCA$1.1b10.6x12.3x0.7x
Thu, 07 Nov 2024CA$13.0bCA$19.5bCA$1.2b9.9x10.7x0.7x
Sat, 05 Oct 2024CA$12.5bCA$19.4bCA$1.2b8.8x10.3x0.6x
Mon, 02 Sep 2024CA$15.8bCA$29.3bCA$1.8b8.8x8.9x0.5x
Wed, 31 Jul 2024CA$15.7bCA$28.4bCA$1.8b8.5x8.7x0.6x
Fri, 28 Jun 2024CA$15.3bCA$28.3bCA$1.8b8.4x8.5x0.5x
Sun, 26 May 2024CA$15.0bCA$28.3bCA$1.8b7.7x8.3x0.5x
Tue, 23 Apr 2024CA$14.8bCA$27.4bCA$1.5b7.9x9.6x0.5x
Thu, 21 Mar 2024CA$14.4bCA$27.4bCA$1.6b7.1x9.3x0.5x
Sat, 17 Feb 2024CA$13.8bCA$27.5bCA$1.3b6.9x10.5x0.5x
Mon, 15 Jan 2024CA$12.9bCA$28.1bCA$1.2b7.2x10.8x0.5x
Wed, 13 Dec 2023CA$11.9bCA$28.1bCA$1.2b6.7x10x0.4x
Fri, 10 Nov 2023CA$12.1bCA$27.2bCA$1.2b7.6x10.1x0.4x
Sun, 08 Oct 2023CA$12.4bCA$27.1bCA$1.2b7.5x10.3x0.5x
Tue, 05 Sep 2023CA$13.7bCA$27.1bCA$1.2b8.3x11.3x0.5x
Thu, 03 Aug 2023CA$12.9bCA$26.1bCA$1.1b7.5x11.8x0.5x
Sat, 01 Jul 2023CA$11.8bCA$26.3bCA$1.1b7.2x10.6x0.4x
Mon, 29 May 2023CA$11.2bCA$26.3bCA$1.1b6.9x10.2x0.4x
Price to Earnings Ratio

10.2x


Total Market Cap: CA$11.2bTotal Earnings: CA$1.1bTotal Revenue: CA$26.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Energy Services Industry Price to Earnings3Y Average 12.9x202420252026
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 29.1x which is higher than its 3-year average PE of 12.9x.
  • The 3-year average PS ratio of 0.62x 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 Market-0.067%
Energy1.49%
Energy Services3.06%
Oil and Gas Drilling3.50%
Oil and Gas Services2.96%
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 23.4%, 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 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$18.986.3%
+CA$236.2m		212.7%PE19x
TVK TerraVest IndustriesCA$141.207.0%
+CA$199.1m		-13.5%PE42x
MATR MattrCA$13.1210.7%
+CA$78.0m		44.2%PE105.7x
PD Precision DrillingCA$132.783.0%
+CA$49.7m		133.6%PS0.9x
TOT Total Energy ServicesCA$26.424.6%
+CA$42.9m		165.0%PE12.2x

Latest News

MCB
CA$2.25
McCoy Global
7D
-17.3%
1Y
-36.1%
PD
CA$132.78
Precision Drilling
7D
3.0%
1Y
133.6%
NOA
CA$19.90
North American Construction Group
7D
-8.0%
1Y
-15.9%
MATR
CA$13.12
Mattr
7D
10.7%
1Y
44.2%
CFW
CA$6.11
Calfrac Well Services
7D
5.5%
1Y
92.1%
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.
CEU
CA$18.98
CES Energy Solutions
7D
6.3%
1Y
212.7%
Narrative Update • May 19

CEU: Higher Dividend And Buybacks Will Support Move Toward CA$21

Analysts now mark CES Energy Solutions' fair value at CA$21.63, up from CA$20.69. This reflects updated assumptions for revenue growth, profit margins and a lower future P/E, alongside mixed Street views that include several CA$1 price target increases and a recent downgrade tied to valuation.
TVK
CA$141.20
TerraVest Industries
7D
7.0%
1Y
-13.5%
Analysis Article • May 18

Earnings Miss: TerraVest Industries Inc. Missed EPS By 18% And Analysts Are Revising Their Forecasts

The analysts might have been a bit too bullish on TerraVest Industries Inc. ( TSE:TVK ), given that the company fell...
TOT
CA$26.42
Total Energy Services
7D
4.6%
1Y
165.0%
TCW
CA$8.06
Trican Well Service
7D
2.4%
1Y
90.1%
EFX
CA$37.45
Enerflex
7D
-1.3%
1Y
293.0%
ESI
CA$4.51
Ensign Energy Services
7D
5.1%
1Y
139.9%
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$0.65
Cleantek Industries
7D
-3.0%
1Y
116.7%
WRG
CA$2.98
Western Energy Services
7D
-3.9%
1Y
36.7%
PSD
CA$3.44
Pulse Seismic
7D
-1.7%
1Y
31.8%
QST
CA$0.27
Questor Technology
7D
-8.5%
1Y
-27.0%
HOH
CA$1.40
High Arctic Overseas Holdings
7D
-3.4%
1Y
34.6%