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U.S. Energy Services Industry Analysis

UpdatedDec 24, 2025
DataAggregated Company Financials
Companies86
  • 7D1.9%
  • 3M6.0%
  • 1Y7.0%
  • YTD2.3%

Over the last 7 days, the Energy Services industry has risen 1.9%, driven by gains in SLB and Halliburton of 1.6% and 3.6%, respectively. This means that the industry has gained 7.0% over the past year. As for the next few years, earnings are expected to grow by 17% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 25 Dec 2025US$221.5bUS$166.4bUS$8.6b18.1x25.9x1.3x
Sat, 22 Nov 2025US$211.6bUS$166.5bUS$8.5b16.6x24.9x1.3x
Mon, 20 Oct 2025US$193.2bUS$165.2bUS$9.5b14.1x20.3x1.2x
Wed, 17 Sep 2025US$198.6bUS$166.2bUS$10.0b15.3x19.8x1.2x
Fri, 15 Aug 2025US$187.9bUS$166.2bUS$10.0b13.2x18.7x1.1x
Sun, 13 Jul 2025US$193.6bUS$170.2bUS$12.1b11.9x16x1.1x
Tue, 10 Jun 2025US$182.4bUS$171.1bUS$12.2b11x14.9x1.1x
Thu, 08 May 2025US$172.4bUS$170.6bUS$12.4b10.6x13.8x1x
Sat, 05 Apr 2025US$191.6bUS$170.7bUS$13.4b10.6x14.2x1.1x
Mon, 03 Mar 2025US$214.6bUS$171.0bUS$13.5b13x15.9x1.3x
Wed, 29 Jan 2025US$224.7bUS$170.3bUS$13.7b14.6x16.4x1.3x
Fri, 27 Dec 2024US$205.9bUS$168.9bUS$13.5b15.3x15.2x1.2x
Sun, 24 Nov 2024US$234.2bUS$168.9bUS$13.5b16.2x17.3x1.4x
Tue, 22 Oct 2024US$210.6bUS$166.6bUS$14.8b18.1x14.3x1.3x
Thu, 19 Sep 2024US$214.1bUS$165.8bUS$14.8b17.6x14.5x1.3x
Sat, 17 Aug 2024US$226.9bUS$166.6bUS$14.4b18.5x15.8x1.4x
Mon, 15 Jul 2024US$239.1bUS$164.6bUS$13.9b14.9x17.2x1.5x
Wed, 12 Jun 2024US$232.3bUS$164.6bUS$13.9b14.4x16.7x1.4x
Fri, 10 May 2024US$240.3bUS$164.5bUS$13.9b14.6x17.3x1.5x
Sun, 07 Apr 2024US$262.5bUS$162.2bUS$13.5b16.3x19.5x1.6x
Tue, 05 Mar 2024US$224.7bUS$161.0bUS$13.3b15.2x16.9x1.4x
Thu, 01 Feb 2024US$227.3bUS$163.5bUS$12.3b16.4x18.5x1.4x
Sat, 30 Dec 2023US$237.8bUS$161.6bUS$12.1b15.9x19.7x1.5x
Mon, 27 Nov 2023US$237.8bUS$160.7bUS$12.1b17.8x19.6x1.5x
Wed, 25 Oct 2023US$258.2bUS$156.9bUS$11.5b15.2x22.5x1.6x
Fri, 22 Sep 2023US$259.7bUS$155.2bUS$11.2b16.9x23.3x1.7x
Sun, 20 Aug 2023US$621.6bUS$155.2bUS$11.2b15.7x55.7x4x
Tue, 18 Jul 2023US$558.7bUS$147.7bUS$8.5b21.5x65.7x3.8x
Thu, 15 Jun 2023US$522.5bUS$148.1bUS$8.5b18.4x61.4x3.5x
Sat, 13 May 2023US$191.7bUS$148.0bUS$8.5b16.7x22.5x1.3x
Mon, 10 Apr 2023US$209.4bUS$138.3bUS$5.4b24.9x38.6x1.5x
Wed, 08 Mar 2023US$235.9bUS$138.1bUS$5.3b27.4x44.9x1.7x
Fri, 03 Feb 2023US$229.6bUS$134.2bUS$3.6b21.9x64.3x1.7x
Sun, 01 Jan 2023US$223.3bUS$129.7bUS$3.0b24.4x75.6x1.7x
Price to Earnings Ratio

75.6x


Total Market Cap: US$223.3bTotal 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 25.8x202320242025
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 25.9x.
  • The 3-year average PS ratio of 1.6x is higher than the industry's current PS ratio of 1.3x.
Past Earnings Growth
  • The earnings for companies in the Energy Services industry have grown 43% 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 Market2.62%
Energy2.23%
Energy Services1.88%
Oil and Gas Drilling2.65%
Oil and Gas Services1.80%
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 22.4x.
    • Analysts are expecting annual earnings growth of 12.8%, 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
HAL HalliburtonUS$28.031.0%
+US$244.1m		4.4%PE18x
LBRT Liberty EnergyUS$18.548.4%
+US$233.2m		-0.9%PE16.1x
SEI Solaris Energy InfrastructureUS$45.0710.9%
+US$216.2m		56.9%PE60.5x
SDRL SeadrillUS$32.897.9%
+US$150.3m		-8.5%PE60.3x
FTI TechnipFMCUS$44.680.7%
+US$121.4m		53.6%PE18.6x

Latest News

TTI
US$9.37
TETRA Technologies
7D
7.2%
1Y
169.3%

Revenues Tell The Story For TETRA Technologies, Inc. (NYSE:TTI) As Its Stock Soars 26%

Dec 23
Revenues Tell The Story For TETRA Technologies, Inc. (NYSE:TTI) As Its Stock Soars 26%
SMHI
US$6.33
SEACOR Marine Holdings
7D
-9.1%
1Y
2.8%

Health Check: How Prudently Does SEACOR Marine Holdings (NYSE:SMHI) Use Debt?

Dec 22
Health Check: How Prudently Does SEACOR Marine Holdings (NYSE:SMHI) Use Debt?
SEI
US$45.07
Solaris Energy Infrastructure
7D
10.9%
1Y
56.9%
HLX
US$6.32
Helix Energy Solutions Group
7D
-5.1%
1Y
-31.7%
LBRT
US$18.54
Liberty Energy
7D
8.4%
1Y
-0.9%
SLB
US$37.97
SLB
7D
-1.5%
1Y
0.6%

SLB: Digital Segment And AI Partnerships Will Drive Multi-Year Upside Potential

SLB's fair value estimate has edged down slightly to approximately $56.41 from about $56.68 as analysts moderate their price targets amid mixed revisions, balancing optimism around the company's digital tailwinds and solid core execution against sector wide macro uncertainty and longer dated performance risks. Analyst Commentary Recent Street commentary on SLB reflects a generally constructive stance, with bullish analysts highlighting the company’s execution in its core businesses and the growing contribution from its digital segment as key factors supporting valuation, even as sector wide macro risks persist.
NOV
US$15.61
NOV
7D
-0.3%
1Y
7.7%

We Like These Underlying Return On Capital Trends At NOV (NYSE:NOV)

Dec 17
We Like These Underlying Return On Capital Trends At NOV (NYSE:NOV)
FTI
US$44.68
TechnipFMC
7D
0.7%
1Y
53.6%

FTI: Subsea Margin Ambitions Will Struggle To Justify Elevated Share Price

We are raising our fair value estimate for TechnipFMC from $30.00 to approximately $37.73 per share, reflecting analysts' higher price targets and greater confidence in the company's ability to convert robust EBITDA into free cash flow and expand subsea margins above prior expectations. Analyst Commentary Recent Street research has turned increasingly constructive on TechnipFMC, with multiple firms lifting price targets into the high 40s and low 50s and reiterating positive ratings.
HAL
US$28.03
Halliburton
7D
1.0%
1Y
4.4%
NE
US$28.24
Noble
7D
-1.0%
1Y
-4.2%

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.
SDRL
US$32.89
Seadrill
7D
7.9%
1Y
-8.5%

SDRL: Share Repurchases And Rising Profitability Will Support Strong Future Upside

Analysts have modestly lowered their price target on Seadrill to reflect a slightly higher profit outlook, offset by a reduced fair value estimate of approximately 4 percent and a marginally softer long term growth profile. What's in the News Seadrill has completed its previously announced share buyback program, repurchasing a total of 6,714,252 shares, equivalent to 9.86% of shares outstanding, for $292 million under the May 16, 2024 authorization (company filing).
TDW
US$50.78
Tidewater
7D
-4.5%
1Y
1.3%

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.
RES
US$5.46
RPC
7D
-3.5%
1Y
-4.7%

RES: Share Price Will Face Pressure As Earnings Expectations Reset

Analysts have trimmed their price target on RPC to approximately $4.00 per share from about $4.75, reflecting a more cautious view on future growth and valuation following the recent sector re-rating and the stock's strong run. Analyst Commentary Bearish analysts have highlighted a growing disconnect between RPC's recent share price performance and their expectations for the company's medium term earnings power.
ACDC
US$3.78
ProFrac Holding
7D
-4.1%
1Y
-48.6%

ACDC: Lower Discount Rate Will Still Leave Shares Looking Overvalued

Analysts have modestly raised their price target on ProFrac Holding to align more closely with their updated valuation, citing a lower required discount rate and slightly more favorable long term profitability and earnings multiple assumptions. Valuation Changes Fair Value Estimate: Unchanged at 3.9, indicating no revision to the core intrinsic value assessment.
KGS
US$36.72
Kodiak Gas Services
7D
2.7%
1Y
-10.0%
WHD
US$45.96
Cactus
7D
3.4%
1Y
-19.9%

WHD: Rising Revenue Expectations And Lower P E Ratio Will Drive Upside

Analysts have raised their price target for Cactus, increasing it slightly from $48.38 to $48.63. This reflects modest expectations of stronger revenue growth, a small uptick in the discount rate, and updated profit and valuation forecasts.