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U.S. Energy Services Industry Analysis

UpdatedDec 16, 2025
DataAggregated Company Financials
Companies86
  • 7D-0.3%
  • 3M11.5%
  • 1Y5.0%
  • YTD4.5%

In the last week, the Energy Services industry is flat overall, with Solaris Energy Infrastructure standing out by going down 19%. The past year has been better, since the industry has gained 5.0% in that time. Looking forward, earnings are forecast to grow by 17% annually.

Industry Valuation and Performance

Has the U.S. Energy Services Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 16 Dec 2025US$228.1bUS$166.4bUS$8.6b18.4x26.7x1.4x
Thu, 13 Nov 2025US$221.6bUS$165.4bUS$8.7b16.9x25.4x1.3x
Sat, 11 Oct 2025US$200.2bUS$166.1bUS$10.0b14x20x1.2x
Mon, 08 Sep 2025US$199.8bUS$166.2bUS$10.0b14.7x19.9x1.2x
Wed, 06 Aug 2025US$186.2bUS$165.6bUS$10.6b11.6x17.6x1.1x
Fri, 04 Jul 2025US$189.9bUS$170.2bUS$12.1b11.6x15.7x1.1x
Sun, 01 Jun 2025US$171.3bUS$171.3bUS$12.2b10.9x14x1x
Tue, 29 Apr 2025US$174.6bUS$169.9bUS$12.6b10.4x13.9x1x
Thu, 27 Mar 2025US$213.2bUS$170.8bUS$13.4b13.1x15.9x1.2x
Sat, 22 Feb 2025US$218.7bUS$171.2bUS$13.0b14.6x16.8x1.3x
Mon, 20 Jan 2025US$237.7bUS$170.6bUS$13.7b15.7x17.4x1.4x
Wed, 18 Dec 2024US$214.5bUS$168.9bUS$13.5b15.6x15.9x1.3x
Fri, 15 Nov 2024US$225.7bUS$168.8bUS$13.5b16.6x16.7x1.3x
Sun, 13 Oct 2024US$224.4bUS$165.8bUS$14.8b18.7x15.2x1.4x
Tue, 10 Sep 2024US$205.5bUS$165.7bUS$14.7b16.9x14x1.2x
Thu, 08 Aug 2024US$220.9bUS$166.7bUS$14.6b17.3x15.1x1.3x
Sat, 06 Jul 2024US$238.1bUS$164.6bUS$13.9b13.7x17.1x1.4x
Mon, 03 Jun 2024US$240.7bUS$164.6bUS$13.9b14.7x17.3x1.5x
Wed, 01 May 2024US$237.0bUS$164.4bUS$13.9b13.4x17.1x1.4x
Fri, 29 Mar 2024US$249.2bUS$160.8bUS$13.1b17.3x19x1.5x
Sun, 25 Feb 2024US$223.4bUS$160.7bUS$12.6b16x17.7x1.4x
Tue, 23 Jan 2024US$225.7bUS$163.0bUS$12.1b16.2x18.6x1.4x
Thu, 21 Dec 2023US$238.8bUS$160.7bUS$12.1b16.1x19.7x1.5x
Sat, 18 Nov 2023US$233.2bUS$160.7bUS$12.1b18.2x19.3x1.5x
Mon, 16 Oct 2023US$261.8bUS$156.1bUS$11.3b15.5x23.3x1.7x
Wed, 13 Sep 2023US$265.3bUS$155.2bUS$11.2b17.3x23.8x1.7x
Fri, 11 Aug 2023US$597.7bUS$155.2bUS$11.2b16.3x53.6x3.9x
Sun, 09 Jul 2023US$547.6bUS$147.7bUS$8.5b20.2x64.4x3.7x
Tue, 06 Jun 2023US$521.8bUS$148.1bUS$8.5b17.7x61.4x3.5x
Thu, 04 May 2023US$191.7bUS$146.0bUS$8.1b16.5x23.5x1.3x
Sat, 01 Apr 2023US$208.0bUS$138.3bUS$5.4b24.3x38.5x1.5x
Mon, 27 Feb 2023US$228.4bUS$137.3bUS$5.0b25x45.6x1.7x
Wed, 25 Jan 2023US$234.0bUS$133.1bUS$3.1b23x74.6x1.8x
Fri, 23 Dec 2022US$216.2bUS$129.7bUS$3.0b23.2x73.1x1.7x
Price to Earnings Ratio

73.1x


Total Market Cap: US$216.2bTotal Earnings: US$3.0bTotal Revenue: US$129.7bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Energy Services Industry Price to Earnings3Y Average 26.2x202320242025
Current Industry PE
  • Investors are relatively neutral on the American Energy Services industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 26.2x.
  • The 3-year average PS ratio of 1.6x is higher than the industry's current PS ratio of 1.4x.
Past Earnings Growth
  • The earnings for companies in the Energy Services industry have grown 42% per year over the last three years.
  • Revenues for these companies have grown 8.7% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the U.S. Energy industry?

US Market-0.69%
Energy-1.04%
Energy Services-0.28%
Oil and Gas Services0.27%
Oil and Gas Drilling-5.05%
Industry PE
  • Investors are most optimistic about the Oil and Gas Services industry even though it's trading below its 3-year average PE ratio of 22.6x.
    • Analysts are expecting annual earnings growth of 12.7%, which is higher than its past year's earnings decline of 18.6% per year.
Forecasted Growth
  • Analysts are most optimistic on the Oil and Gas Drilling industry, expecting annual earnings growth of 51% over the next 5 years.
  • This is better than its past earnings decline of 59% per year.
  • In contrast, the Oil and Gas Services industry is expected to see its earnings grow by 13% 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
SLB SLBUS$38.901.6%
+US$896.4m		-0.08%PE15.9x
FTI TechnipFMCUS$46.201.9%
+US$351.9m		50.0%PE19.2x
HAL HalliburtonUS$28.411.2%
+US$277.7m		1.9%PE18.3x
AROC ArchrockUS$26.184.8%
+US$208.7m		-0.08%PE17.5x
NOV NOVUS$16.241.9%
+US$109.4m		9.6%PE15.5x

Latest News

BORR
US$3.96
Borr Drilling
7D
-2.5%
1Y
3.9%
HAL
US$28.41
Halliburton
7D
1.2%
1Y
1.9%
VAL
US$53.91
Valaris
7D
-8.6%
1Y
25.1%

VAL: Long-Term Offshore Contracts Will Drive Stronger Outlook Ahead

Analysts have raised their price target on Valaris by 5 percent, from 62 dollars to 65 dollars. They cite a lower perceived risk profile and slightly stronger long term revenue growth expectations, despite modestly softer margin assumptions.
NE
US$29.73
Noble
7D
-6.9%
1Y
-3.8%

NE: Future Earnings Power And Index Inclusion Will Drive Upside

Analysts have modestly reduced their price target on Noble to reflect a slightly lower fair value of approximately 38 dollars. This adjustment is offset by expectations for stronger profit margins and a more attractive future earnings multiple.
BKR
US$46.89
Baker Hughes
7D
-1.1%
1Y
12.2%

BKR: IET Outperformance And Divestitures Will Drive Upside In Coming Cycle

Analysts have nudged their price target on Baker Hughes modestly higher, lifting fair value by about $0.57 to roughly $53.14. They cite continued outperformance in the Industrial and Energy Technology unit, improving long cycle energy activity, and a supportive backlog and divestiture strategy despite a still choppy macro backdrop.
NOV
US$16.24
NOV
7D
1.9%
1Y
9.6%

NOV Saudi And Deepwater Upswing Will Support A Re-Rating

We lower our analyst price target for NOV to $19.00 from $19.63, reflecting analysts' slightly more conservative valuation multiple, even as they point to improving sector momentum and a healthier growth and discount rate backdrop supported by recent mixed but generally constructive target revisions on the Street. Analyst Commentary Bullish analysts continue to highlight a gradual improvement in NOV's risk reward profile, even as the range of published price targets remains relatively tight and ratings are mixed.
TDW
US$56.48
Tidewater
7D
-2.9%
1Y
7.5%

TDW: Offshore Demand And Tight Vessel Supply Will Drive Shares Higher

Analysts have raised their fair value estimate for Tidewater to $75 from $70, citing a slightly lower required return and higher expected valuation multiples, despite moderating growth and margin assumptions and a more cautious near term stance reflected in recent downgrades to Hold and a $65 price target. Analyst Commentary Despite the recent downgrade to Hold and the $65 price target, bullish analysts remain constructive on Tidewater’s long term prospects, highlighting a supportive industry backdrop and the company’s improving competitive position.
RIG
US$4.08
Transocean
7D
-8.1%
1Y
9.4%

RIG: New Offshore Contracts Will Support Future Revenue Amid Crude Price Uncertainty

Analysts have increased their price target on Transocean by $0.75 to $4.25 per share, citing a more positive offshore drilling outlook supported by new contract signings, even as they note that lower crude prices could still temper the pace of improvement. Analyst Commentary Bullish analysts point to a gradually improving backdrop for offshore drilling, arguing that recent contract signings validate Transocean's ability to secure work and support a higher valuation range.
SEI
US$43.56
Solaris Energy Infrastructure
7D
-18.9%
1Y
52.5%

SEI: Expanded 2.2GW Capacity Will Support Second Data Center Contract

Analysts have nudged their price target on Solaris Energy Infrastructure slightly higher to approximately $64.60 per share. This reflects incremental increases in projected fair value, profitability, and future valuation multiples as the company scales capacity and secures data center opportunities.
AESI
US$10.04
Atlas Energy Solutions
7D
3.3%
1Y
-56.4%

AESI: Distributed Power Expansion Will Support Future Upside Despite Sand Headwinds

Atlas Energy Solutions' analyst price target has been revised modestly lower to about $12.23 from $12.50 as analysts factor in softer sand pricing, lingering macro headwinds for U.S. land services, and growing concerns about logistics profitability, despite the company's expansion into the distributed power market. Analyst Commentary Street research on Atlas Energy Solutions has tilted more cautious as analysts reassess the company’s earnings power and valuation in light of weaker sand pricing and a tougher onshore services backdrop.
XPRO
US$13.78
Expro Group Holdings
7D
-6.3%
1Y
24.3%

XPRO: Future Returns Will Reflect Strong Execution And Muted 2026 Outlook

Analysts have modestly raised their price target for Expro Group Holdings to $16 from $15, reflecting a slightly higher fair value estimate of about $14.40 as they balance a solid recent earnings beat against cautious preliminary 2026 guidance. Analyst Commentary Analysts view the latest price target increase as a reflection of Expro's solid operational execution in the near term, while also signaling tempered expectations for the company’s medium term growth trajectory.
SLB
US$38.90
SLB
7D
1.6%
1Y
-0.08%

SLB: Digital Expansion Will Drive Long-Term Upside Despite Macro Headwinds

Analysts have modestly trimmed their blended price target on SLB by about $1 to reflect a slightly higher discount rate and only marginal improvements in long term growth and profitability assumptions, even as they highlight company specific digital and international tailwinds that help offset sector wide macro risks. Analyst Commentary Street commentary on SLB reflects a mix of optimism around structural growth drivers and caution on the macro backdrop, resulting in only modest net changes to price targets and largely unchanged ratings.
AROC
US$26.18
Archrock
7D
4.8%
1Y
-0.08%

AROC: Expanded Buyback Program Will Fuel Continued Share Price Strength

Analysts have maintained their price target for Archrock at $31.56 per share, citing stable financial projections and only minimal adjustments to key valuation metrics. What's in the News Archrock repurchased 1,222,846 shares between July and October 2025, totaling $28.47 million.
FTI
US$46.20
TechnipFMC
7D
1.9%
1Y
50.0%

FTI: Strong Free Cash Flow And Margin Expansion Will Drive Long-Term Returns

Analysts have increased their price targets for TechnipFMC, with the latest revisions citing robust Q3 results, enhanced margin guidance, and stronger free cash flow. New targets rose to between $43 and $50, compared to previous levels ranging from $41 to $48.
KGS
US$37.34
Kodiak Gas Services
7D
3.0%
1Y
-10.0%
OII
US$25.86
Oceaneering International
7D
-4.4%
1Y
1.9%