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U.S. Energy Services Industry Analysis

UpdatedJul 09, 2026
DataAggregated Company Financials
Companies92
  • 7D5.3%
  • 3M-6.8%
  • 1Y49.6%
  • YTD25.6%

The Energy Services industry is up 5.3% in the last week, with Baker Hughes up 9.1%. In the last 12 months, the industry was up 50%. As for the next few years, earnings are expected to grow by 20% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 10 Jul 2026US$290.7bUS$170.1bUS$9.0b26.5x32.4x1.7x
Sun, 07 Jun 2026US$321.1bUS$170.2bUS$9.0b25.5x35.5x1.9x
Tue, 05 May 2026US$340.6bUS$168.3bUS$9.0b26.6x37.8x2x
Thu, 02 Apr 2026US$307.4bUS$167.9bUS$8.3b27x37.2x1.8x
Sat, 28 Feb 2026US$305.6bUS$167.5bUS$8.0b27.5x38.3x1.8x
Mon, 26 Jan 2026US$267.9bUS$166.8bUS$8.2b22.2x32.5x1.6x
Wed, 24 Dec 2025US$221.5bUS$166.4bUS$8.6b18.1x25.9x1.3x
Fri, 21 Nov 2025US$216.5bUS$166.5bUS$8.5b16.4x25.5x1.3x
Sun, 19 Oct 2025US$193.2bUS$165.2bUS$9.5b14.1x20.3x1.2x
Tue, 16 Sep 2025US$200.8bUS$166.2bUS$10.0b15x20x1.2x
Thu, 14 Aug 2025US$186.4bUS$166.2bUS$10.0b13.7x18.6x1.1x
Sat, 12 Jul 2025US$192.5bUS$170.2bUS$12.1b11.9x15.9x1.1x
Mon, 09 Jun 2025US$182.4bUS$171.1bUS$12.2b11x14.9x1.1x
Wed, 07 May 2025US$173.5bUS$170.4bUS$12.4b10.6x14x1x
Fri, 04 Apr 2025US$213.6bUS$170.7bUS$13.4b12x15.9x1.3x
Sun, 02 Mar 2025US$214.6bUS$171.0bUS$13.5b13x15.9x1.3x
Tue, 28 Jan 2025US$228.9bUS$170.3bUS$13.7b15x16.7x1.3x
Thu, 26 Dec 2024US$205.9bUS$168.9bUS$13.5b15.2x15.2x1.2x
Sat, 23 Nov 2024US$232.4bUS$168.9bUS$13.5b16.2x17.2x1.4x
Mon, 21 Oct 2024US$210.6bUS$166.6bUS$14.8b18x14.3x1.3x
Wed, 18 Sep 2024US$208.1bUS$165.8bUS$14.8b17.7x14.1x1.3x
Fri, 16 Aug 2024US$222.0bUS$166.6bUS$14.4b18.5x15.4x1.3x
Sun, 14 Jul 2024US$239.1bUS$164.6bUS$13.9b14.9x17.2x1.5x
Tue, 11 Jun 2024US$232.2bUS$164.6bUS$13.9b14.5x16.7x1.4x
Thu, 09 May 2024US$241.0bUS$164.7bUS$13.9b14.5x17.4x1.5x
Sat, 06 Apr 2024US$258.9bUS$162.2bUS$13.5b16.3x19.2x1.6x
Mon, 04 Mar 2024US$226.8bUS$161.0bUS$13.3b15.4x17.1x1.4x
Wed, 31 Jan 2024US$234.8bUS$163.5bUS$12.3b16.6x19.1x1.4x
Fri, 29 Dec 2023US$241.0bUS$160.7bUS$12.1b16.1x19.9x1.5x
Sun, 26 Nov 2023US$237.8bUS$160.7bUS$12.1b17.8x19.6x1.5x
Tue, 24 Oct 2023US$258.2bUS$156.9bUS$11.5b15.2x22.5x1.6x
Thu, 21 Sep 2023US$264.2bUS$155.2bUS$11.2b17.6x23.7x1.7x
Sat, 19 Aug 2023US$619.3bUS$155.2bUS$11.2b15.7x55.5x4x
Mon, 17 Jul 2023US$558.7bUS$147.7bUS$8.5b21.1x65.7x3.8x
Price to Earnings Ratio

65.7x


Total Market Cap: US$558.7bTotal Earnings: US$8.5bTotal Revenue: US$147.7bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Energy Services Industry Price to Earnings3Y Average 22.5x202420252026
Current Industry PE
  • Investors are optimistic on the American Energy Services industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 32.4x which is higher than its 3-year average PE of 22.5x.
  • The 3-year average PS ratio of 1.5x is lower than the industry's current PS ratio of 1.7x.
Past Earnings Growth
  • The earnings for companies in the Energy Services industry have remained mostly flat over the last three years.
  • Meanwhile revenues for these companies have grown 4.8% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.

Industry Trends

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

US Market-0.43%
Energy5.04%
Energy Services5.31%
Oil and Gas Drilling7.29%
Oil and Gas Services5.09%
Industry PE
  • Investors are most optimistic about the Oil and Gas Services industry which is trading above its 3-year average PE ratio of 19.2x.
    • Analysts are expecting annual earnings growth of 16.4%, which is higher than its past year's earnings decline of 26.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the Oil and Gas Drilling industry, expecting annual earnings growth of 56% 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 16% 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
BKR Baker HughesUS$57.208.4%
+US$4.4b		44.0%PE18.2x
SLB SLBUS$47.244.7%
+US$3.2b		28.9%PE21.2x
FTI TechnipFMCUS$70.535.7%
+US$1.5b		99.5%PE26x
HAL HalliburtonUS$34.123.5%
+US$969.1m		54.0%PE18.5x
AROC ArchrockUS$38.514.7%
+US$301.4m		65.2%PE21x

Latest News

HAL
US$34.12
Halliburton
7D
3.5%
1Y
54.0%
WFRD
US$82.78
Weatherford International
7D
-0.3%
1Y
44.6%
Narrative Update • Jul 08

WFRD: Offshore And Middle East Upside Will Support Future Margin Strength

Analysts have lifted their Weatherford International fair value estimate from $105.36 to $119.17, citing updated models that reflect revised P/E assumptions, modestly adjusted revenue growth and margin expectations, and a broad set of refreshed price targets across recent research. Analyst Commentary Recent Street research around Weatherford International highlights a mix of optimism and caution, with multiple firms updating price targets and models as they reassess the stock's risk and reward profile.
SLB
US$47.24
SLB
7D
4.7%
1Y
28.9%
PTEN
US$9.40
Patterson-UTI Energy
7D
8.5%
1Y
43.3%
FTI
US$70.53
TechnipFMC
7D
5.7%
1Y
99.5%
Narrative Update • Jul 07

FTI: Subsea Order Timing Risk Will Test Elevated Future Margin Expectations

TechnipFMC's updated analyst price target has increased from $41.37 to $52.19. This change reflects analysts' expectations for stronger subsea order momentum, incremental margin expansion across product lines, and continued support from recent target hikes at several major research firms.
SEI
US$68.26
Solaris Energy Infrastructure
7D
1.6%
1Y
122.3%
AROC
US$38.51
Archrock
7D
4.7%
1Y
65.2%
Seeking Alpha • Jul 07

Archrock: The Valuation Gap Has Closed And Challenges To Growth Are On The Rise (Rating Downgrade)

Summary Archrock (AROC) is downgraded to HOLD as its valuation now fully reflects near-term performance, trading at 10x 2026 EBITDA. AROC faces growth headwinds from engine component supply constraints and limited M&A opportunities, challenging its historical organic and inorganic expansion. Despite these challenges, AROC benefits from excess free cash flow and a strengthened balance sheet, providing flexibility for dividends, buybacks, or strategic investments. Future growth will depend on management's ability to leverage financial advantages amid industry supply chain risks and oil price-driven share volatility. Read the full article on Seeking Alpha
BORR
US$4.37
Borr Drilling
7D
-2.7%
1Y
110.1%
BKR
US$57.20
Baker Hughes
7D
8.4%
1Y
44.0%
Narrative Update • Jul 06

BKR: Angola Subsea Wins And IET Orders Will Support Future Upside

The analyst fair value estimate for Baker Hughes has increased by $5 to $85. This reflects updated models that incorporate Street research pointing to steady OFSE and IET trends and revised long-term P/E and growth assumptions.
WHD
US$53.97
Cactus
7D
7.0%
1Y
17.4%
Narrative Update • Jul 02

WHD: Energy Security And Offshore Cycle May Support Higher Future Upside

Analysts have raised their consolidated fair value estimate for Cactus to $72 from $69, citing updated expectations for higher profit margins, modestly stronger revenue growth, and a more constructive multiyear outlook for orders and earnings across pressure control, spoolable technologies, and offshore-oriented equipment demand. Analyst Commentary on Cactus Recent research updates on Cactus point to a generally constructive tone, with several bullish analysts marking up their fair value estimates and pointing to catalysts across pressure control, spoolable technologies, and offshore oriented equipment demand.
CLB
US$10.99
Core Laboratories
7D
-4.1%
1Y
-15.1%
AESI
US$14.21
Atlas Energy Solutions
7D
-1.8%
1Y
-0.4%
KGS
US$67.18
Kodiak Gas Services
7D
-1.1%
1Y
111.3%
Narrative Update • Jun 25

KGS: Longer Term Contracts And Data Center Power Buildout Will Drive Upside

Analysts have nudged their average price target for Kodiak Gas Services higher, with updated fair value estimates moving from about $82.21 to $84.07. They attribute this change to stronger revenue growth assumptions, slightly lower discount rates, and expectations for higher future P/E multiples supported by research pointing to compression demand, long-term contracts, and expansion into behind-the-meter power and data center infrastructure.
ACDC
US$4.90
ProFrac Holding
7D
-4.9%
1Y
-37.7%
Narrative Update • Jun 25

ACDC: Volatile Oil Headlines Will Not Alter Fair Future P/E View

Analysts have reiterated their price target for ProFrac Holding at $4.87, with the unchanged fair value supported by updated views on the discount rate, revenue growth, profit margin, and future P/E assumptions. What’s in the News for ProFrac Holding ProFrac Holding shares fell 8.3% during an afternoon session after news of an interim agreement between the U.S. and Iran that would waive sanctions on Tehran's oil and reopen the Strait of Hormuz.
ESOA
US$16.58
Energy Services of America
7D
-7.2%
1Y
67.6%
STAK
US$3.61
STAK
7D
-17.8%
1Y
95.1%