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U.S. Energy Services Industry Analysis

UpdatedJun 11, 2026
DataAggregated Company Financials
Companies93
  • 7D-1.6%
  • 3M14.0%
  • 1Y66.6%
  • YTD38.1%

Over the last 7 days, the Energy Services industry has dropped 1.6%, driven by SLB declining 2.4%. This takes the industry's 12 month performance to a gain of 67%. Earnings are forecast to grow by 21% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 11 Jun 2026US$325.8bUS$170.2bUS$9.0b28.2x36.1x1.9x
Sat, 09 May 2026US$320.2bUS$168.3bUS$8.8b34.9x36.3x1.9x
Mon, 06 Apr 2026US$304.1bUS$167.9bUS$8.3b26x36.8x1.8x
Wed, 04 Mar 2026US$306.6bUS$167.4bUS$8.2b27.1x37.6x1.8x
Fri, 30 Jan 2026US$270.7bUS$166.9bUS$7.9b22.5x34.2x1.6x
Sun, 28 Dec 2025US$219.8bUS$166.4bUS$8.6b18x25.7x1.3x
Tue, 25 Nov 2025US$215.4bUS$166.4bUS$8.5b16.5x25.4x1.3x
Thu, 23 Oct 2025US$200.7bUS$165.0bUS$8.9b15.3x22.6x1.2x
Sat, 20 Sep 2025US$201.7bUS$166.2bUS$10.0b14.7x20.1x1.2x
Mon, 18 Aug 2025US$185.6bUS$166.2bUS$10.0b13.7x18.5x1.1x
Wed, 16 Jul 2025US$191.4bUS$170.2bUS$12.1b11.3x15.8x1.1x
Fri, 13 Jun 2025US$190.8bUS$171.1bUS$12.2b10.5x15.6x1.1x
Sun, 11 May 2025US$177.3bUS$171.3bUS$12.4b10.9x14.3x1x
Tue, 08 Apr 2025US$168.2bUS$170.7bUS$13.4b10.5x12.5x1x
Thu, 06 Mar 2025US$199.8bUS$171.0bUS$13.5b12.2x14.8x1.2x
Sat, 01 Feb 2025US$223.2bUS$170.6bUS$14.4b14.8x15.5x1.3x
Mon, 30 Dec 2024US$206.0bUS$168.9bUS$13.5b15.4x15.2x1.2x
Wed, 27 Nov 2024US$229.6bUS$168.9bUS$13.5b15.8x17x1.4x
Fri, 25 Oct 2024US$208.8bUS$167.6bUS$14.3b17.4x14.6x1.2x
Sun, 22 Sep 2024US$218.5bUS$165.8bUS$14.8b18.1x14.8x1.3x
Tue, 20 Aug 2024US$226.3bUS$166.7bUS$14.4b18.6x15.7x1.4x
Thu, 18 Jul 2024US$252.0bUS$164.6bUS$13.9b15.7x18.1x1.5x
Sat, 15 Jun 2024US$227.0bUS$164.6bUS$13.9b13.4x16.3x1.4x
Mon, 13 May 2024US$241.7bUS$164.4bUS$13.9b14.4x17.4x1.5x
Wed, 10 Apr 2024US$259.9bUS$162.2bUS$13.5b16.3x19.3x1.6x
Fri, 08 Mar 2024US$230.6bUS$161.0bUS$13.2b15.1x17.4x1.4x
Sun, 04 Feb 2024US$218.9bUS$163.8bUS$12.8b16x17.1x1.3x
Tue, 02 Jan 2024US$236.5bUS$161.6bUS$12.1b15.9x19.6x1.5x
Thu, 30 Nov 2023US$235.3bUS$160.7bUS$12.1b17.6x19.4x1.5x
Sat, 28 Oct 2023US$248.7bUS$159.5bUS$12.4b14.9x20x1.6x
Mon, 25 Sep 2023US$261.2bUS$155.2bUS$11.2b16.8x23.4x1.7x
Wed, 23 Aug 2023US$248.0bUS$155.2bUS$11.2b15.2x22.2x1.6x
Fri, 21 Jul 2023US$561.6bUS$150.0bUS$10.3b21.6x54.5x3.7x
Sun, 18 Jun 2023US$524.7bUS$148.1bUS$8.5b18.5x61.7x3.5x
Price to Earnings Ratio

61.7x


Total Market Cap: US$524.7bTotal Earnings: US$8.5bTotal Revenue: US$148.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Energy Services Industry Price to Earnings3Y Average 23.3x202420252026
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 36.1x which is higher than its 3-year average PE of 23.3x.
  • The 3-year average PS ratio of 1.6x is lower than the industry's current PS ratio of 1.9x.
Past Earnings Growth
  • The earnings for companies in the Energy Services industry have grown 2.0% per year over the last three years.
  • Revenues for these companies have grown 4.8% 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-4.05%
Energy-0.86%
Energy Services-1.58%
Oil and Gas Drilling-1.42%
Oil and Gas Services-1.59%
Industry PE
  • Investors are most optimistic about the Oil and Gas Services industry which is trading above its 3-year average PE ratio of 20.1x.
    • Analysts are expecting annual earnings growth of 16.5%, 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 60% over the next 5 years.
  • However this is lower than its past earnings growth rate of 94% per year.
  • In contrast, the Oil and Gas Services industry is expected to see its earnings grow by 17% 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
FTI TechnipFMCUS$69.953.0%
+US$801.4m		104.1%PE25.8x
AROC ArchrockUS$35.694.3%
+US$259.4m		44.0%PE19.5x
OII Oceaneering InternationalUS$39.303.4%
+US$130.7m		85.8%PE11.5x
XPRO Expro Group HoldingsUS$16.417.3%
+US$125.9m		68.0%PE50.7x
NBR Nabors IndustriesUS$102.876.8%
+US$97.5m		199.1%PE7.6x

Latest News

HAL
US$39.73
Halliburton
7D
-3.2%
1Y
79.0%
RIG
US$6.01
Transocean
7D
-2.8%
1Y
87.8%
NOV
US$21.08
NOV
7D
1.2%
1Y
57.7%
Narrative Update • Jun 09

NOV: Future Returns Will Lag As Middle East Cost Pressures Persist

Analysts have maintained the overall $17.00 fair value anchor for NOV, while a mix of higher Street price targets up to $26 and more cautious views citing Middle East related cost pressures frames this update to reflect slightly adjusted growth, margin, discount rate, and future P/E assumptions. Analyst Commentary Street research on NOV currently spans a wide range of views, from more constructive stances with price targets up to US$26 to cautious opinions centered closer to US$19.
INVX
US$28.73
Innovex International
7D
5.0%
1Y
72.0%
New Narrative • Jun 08

Subsea Growth And Capital Light Model Will Support Stronger Long Term Earnings Power

Catalysts About Innovex International Innovex International provides oilfield technologies and services focused on well construction, completions, and Subsea solutions across U.S. land, offshore, and international markets. What are the underlying business or industry changes driving this perspective?
WFRD
US$98.01
Weatherford International
7D
-5.8%
1Y
87.5%
Narrative Update • Jun 08

WFRD: Offshore Contracts And NCS Deal Will Support Future Earnings Repricing

Analysts have lifted the Weatherford International price target, with the model-implied fair value moving from about $148.56 to $150.69. This reflects slightly higher revenue growth, profit margin and future P/E assumptions that offset a modestly lower discount rate, supported by Street research that cites Weatherford as a beneficiary of activity in Mexico and the Middle East and updated sector models.
HP
US$39.37
Helmerich & Payne
7D
2.4%
1Y
117.5%
XPRO
US$16.41
Expro Group Holdings
7D
7.3%
1Y
68.0%
Narrative Update • Jun 06

XPRO: Future Returns Will Hinge On Executing New Contracts And Acquisition Strategy

Analysts have nudged their average price target on Expro Group Holdings to $18.00. The shift is framed around improving oilfield activity, Expro's global footprint relative to larger peers, and a recalibration of views on valuation and capital returns following recent rating upgrades.
FTI
US$69.95
TechnipFMC
7D
3.0%
1Y
104.1%
Narrative Update • Jun 06

FTI: Subsea Order Cadence And Margin Gains Will Support Richer Future Pricing

Analysts have lifted the fair value estimate for TechnipFMC to $76.00 from $65.62, citing higher assumed revenue growth, slightly stronger profit margins, and a higher future P/E multiple. This outlook is supported by rising price targets that reference subsea order interest, margin expansion efforts, and recent earnings execution.
BKR
US$63.02
Baker Hughes
7D
-1.9%
1Y
61.5%
SEI
US$68.24
Solaris Energy Infrastructure
7D
-8.0%
1Y
157.7%
Narrative Update • Jun 04

SEI: Data Center Contracts And New Capacity Will Shape Balanced Outlook

Solaris Energy Infrastructure's analyst fair value estimate has been increased from $61.14 to $80.00 as analysts incorporate higher expected profit margins, updated P/E assumptions, and the effects of recently cited long-term data center and capacity expansion contracts in their research. Analyst Commentary Recent Street research on Solaris Energy Infrastructure has leaned constructive on the long-term contract pipeline and capacity additions, with several firms lifting price targets as they update models for new data center deals and natural gas turbine projects.
SLB
US$55.51
SLB
7D
-2.4%
1Y
55.5%
Narrative Update • Jun 04

SLB: Elevated EBITDA Hopes Will Pressure Returns If Execution Disappoints

SLB's fair value estimate has moved from $40.07 to $49.50 as analysts lift price targets, including a recent increase to $60, citing updated models that assume higher future EBITDA and a higher future P/E multiple. Analyst Commentary Recent Street research on SLB has centered on updated models for EBITDA and P/E, which feed directly into higher price targets.
AROC
US$35.69
Archrock
7D
4.3%
1Y
44.0%
Narrative Update • Jun 04

AROC: Compression Demand And Natural Gas Trends Will Support Future Cash Flow

Narrative Update: Archrock Analyst Price Target Shift The updated analyst price target for Archrock has moved modestly higher to about $41.89 from $41.56, with analysts pointing to recalibrated assumptions on revenue growth, profit margins, and future P/E, along with recent target changes around $40 from firms covering the stock. Analyst Commentary Recent Street research on Archrock shows a mix of optimism and caution around the stock, with several firms adjusting their price targets and updating views on the company’s execution and earnings power.
LBRT
US$28.23
Liberty Energy
7D
-9.1%
1Y
111.1%
OII
US$39.30
Oceaneering International
7D
3.4%
1Y
85.8%
Narrative Update • Jun 02

OII: Offshore Contract Wins And FY26 Execution Will Shape Fair Outlook

Analysts have raised their average price target on Oceaneering International by $7, and the updated $35.25 fair value view is supported by recent target increases at several firms that cite a more constructive outlook on the stock. Analyst Commentary Recent research updates point to a more constructive stance on Oceaneering, with several firms revising their fair value estimates higher.
NBR
US$102.87
Nabors Industries
7D
6.8%
1Y
199.1%
Narrative Update • Jun 01

NBR: Margin Assumptions And Lower P/E Framework Will Shape 2026 Upside Potential

The analyst price target for Nabors Industries has been raised by $21, with analysts citing updated profit margin assumptions and a lower expected future P/E multiple as key factors behind the change. Analyst Commentary Recent Street research on Nabors Industries includes several price target increases clustered over a relatively short period, along with at least one upgrade.
VAL
US$88.98
Valaris
7D
-3.3%
1Y
95.7%
Narrative Update • May 29

VAL: Petrobras Extension And Suriname Collaboration Will Steady Future Return Potential

Analysts have lifted their Valaris fair value estimate from $98.00 to $99.00, citing updated views on discount rates, revenue growth, profit margins, and a lower future P/E assumption as key drivers behind the change. What's in the News Valaris secured a 1,064-day contract extension with Petrobras offshore Brazil for drillship VALARIS DS-4.