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U.S. Energy Services Industry Analysis

UpdatedJun 25, 2026
DataAggregated Company Financials
Companies93
  • 7D-5.2%
  • 3M-9.7%
  • 1Y55.9%
  • YTD22.2%

Over the last 7 days, the Energy Services industry has dropped 5.2%, driven by SLB declining 7.4%. On the other hand Archrock is actually up 9.3%. Over the past 12 months, the industry was up 56%. As for the next few years, earnings are expected to grow by 21% 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 Jun 2026US$296.5bUS$170.2bUS$9.0b26x32.8x1.7x
Sat, 23 May 2026US$343.8bUS$170.2bUS$9.0b26.9x38.1x2x
Mon, 20 Apr 2026US$307.6bUS$167.9bUS$8.3b28.8x37.3x1.8x
Wed, 18 Mar 2026US$281.3bUS$167.1bUS$8.2b27.1x34.1x1.7x
Fri, 13 Feb 2026US$296.0bUS$167.2bUS$7.5b24.6x39.2x1.8x
Sun, 11 Jan 2026US$249.3bUS$166.4bUS$8.5b20.9x29.2x1.5x
Tue, 09 Dec 2025US$230.1bUS$166.4bUS$8.6b18x26.8x1.4x
Thu, 06 Nov 2025US$212.6bUS$165.6bUS$8.7b16.1x24.4x1.3x
Sat, 04 Oct 2025US$203.7bUS$166.1bUS$10.0b15.2x20.3x1.2x
Mon, 01 Sep 2025US$201.1bUS$166.1bUS$10.0b14.9x20x1.2x
Wed, 30 Jul 2025US$199.2bUS$164.6bUS$11.4b11.7x17.5x1.2x
Fri, 27 Jun 2025US$179.3bUS$171.1bUS$12.2b11x14.7x1x
Sun, 25 May 2025US$174.4bUS$171.3bUS$12.2b10.8x14.2x1x
Tue, 22 Apr 2025US$177.9bUS$170.6bUS$13.4b10.6x13.3x1x
Thu, 20 Mar 2025US$206.6bUS$170.9bUS$13.4b13.6x15.5x1.2x
Sat, 15 Feb 2025US$225.4bUS$170.6bUS$13.7b15.4x16.4x1.3x
Mon, 13 Jan 2025US$216.5bUS$169.9bUS$13.6b15.7x15.9x1.3x
Wed, 11 Dec 2024US$218.2bUS$168.9bUS$13.5b16.1x16.1x1.3x
Fri, 08 Nov 2024US$228.9bUS$168.9bUS$13.6b18.7x16.8x1.4x
Sun, 06 Oct 2024US$227.3bUS$165.8bUS$14.8b19x15.4x1.4x
Tue, 03 Sep 2024US$224.6bUS$166.7bUS$14.4b18.5x15.6x1.3x
Thu, 01 Aug 2024US$252.4bUS$167.6bUS$14.4b17.6x17.5x1.5x
Sat, 29 Jun 2024US$236.1bUS$164.6bUS$13.9b14x17x1.4x
Mon, 27 May 2024US$236.9bUS$164.6bUS$13.9b14.5x17.1x1.4x
Wed, 24 Apr 2024US$245.2bUS$163.1bUS$13.5b14.9x18.2x1.5x
Fri, 22 Mar 2024US$246.9bUS$160.7bUS$13.1b17.4x18.8x1.5x
Sun, 18 Feb 2024US$221.0bUS$160.1bUS$12.3b15.9x18x1.4x
Tue, 16 Jan 2024US$224.3bUS$161.6bUS$12.1b15.5x18.6x1.4x
Thu, 14 Dec 2023US$221.2bUS$160.7bUS$12.1b16.5x18.3x1.4x
Sat, 11 Nov 2023US$236.9bUS$160.5bUS$12.1b18.3x19.6x1.5x
Mon, 09 Oct 2023US$247.5bUS$156.1bUS$11.3b14.1x22x1.6x
Wed, 06 Sep 2023US$263.5bUS$155.2bUS$11.2b16.7x23.6x1.7x
Fri, 04 Aug 2023US$569.7bUS$153.8bUS$10.8b21.1x52.6x3.7x
Sun, 02 Jul 2023US$532.9bUS$147.7bUS$8.5b18.2x62.6x3.6x
Price to Earnings Ratio

62.6x


Total Market Cap: US$532.9bTotal 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 22.9x202420252026
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 32.8x which is higher than its 3-year average PE of 22.9x.
  • 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 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-2.47%
Energy-1.39%
Energy Services-5.19%
Oil and Gas Services-4.83%
Oil and Gas Drilling-8.14%
Industry PE
  • Investors are most optimistic about the Oil and Gas Services industry which is trading above its 3-year average PE ratio of 19.7x.
    • Analysts are expecting annual earnings growth of 17.2%, 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 59% 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
AROC ArchrockUS$38.799.3%
+US$580.1m		58.0%PE21.1x
KGS Kodiak Gas ServicesUS$70.656.2%
+US$407.3m		108.6%PE106.7x
NESR National Energy Services ReunitedUS$25.174.8%
+US$116.0m		332.5%PE39.3x
OII Oceaneering InternationalUS$36.292.2%
+US$78.8m		78.0%PE10.7x
WTTR Select Water SolutionsUS$18.391.9%
+US$43.5m		114.1%PE105.9x

Latest News

AROC
US$38.79
Archrock
7D
9.3%
1Y
58.0%
ESOA
US$17.82
Energy Services of America
7D
10.4%
1Y
92.8%
OII
US$36.29
Oceaneering International
7D
2.2%
1Y
78.0%
RIG
US$5.04
Transocean
7D
-9.7%
1Y
90.9%
VAL
US$75.52
Valaris
7D
-9.1%
1Y
79.7%
Seeking Alpha • Jun 24

Valaris: Small Arbitrage Play Short-Term, Large Consolidated Upside Long-Term

Summary Valaris remains a Strong Buy, supported by robust fleet quality, stable OPEX, and favorable medium-term rate dynamics. The Transocean all-stock merger offers a 4.8% arbitrage upside, with regulatory approvals progressing and minimal integration costs expected. Recent revenue and EPS misses are attributed to temporary fleet idle days, not structural weakness; VAL backlog growth signals utilization rebound to ~80% in H2. Post-merger, the combined fleet of 81 rigs, including the ARO Drilling JV, positions the entity for growth, especially in the Middle East. Read the full article on Seeking Alpha
WFRD
US$84.49
Weatherford International
7D
-10.3%
1Y
76.9%
Narrative Update • Jun 24

WFRD: International Offshore Awards And Governance Shifts Will Shape Balanced Future Returns

Analysts have nudged the Weatherford International fair value estimate slightly higher to $90.64, reflecting updated assumptions for revenue growth, margins, and a lower discount rate in light of recent price target increases across the Street tied to expanding opportunities in the Middle East, offshore, and Latin America. Analyst Commentary Recent Street research on Weatherford International highlights a mix of optimism around growth opportunities in the Middle East, offshore and Latin America, alongside a more measured tone from some bearish analysts who are focused on execution, timing and valuation risks.
BKR
US$56.38
Baker Hughes
7D
-3.5%
1Y
47.1%
FTI
US$64.29
TechnipFMC
7D
-4.1%
1Y
88.7%
Narrative Update • Jun 23

FTI: Extended Subsea Orders And Buybacks Will Drive Future Upside Potential

Analysts have raised the fair value estimate for TechnipFMC to $90 from $83, noting higher price targets across the Street and citing expectations for continued subsea order momentum and incremental margin potential highlighted in recent research. Analyst Commentary Recent Street research on TechnipFMC points to a cluster of higher fair value views, with several bullish analysts lifting price targets and highlighting the company’s subsea positioning, order activity and margin potential as key supports for the current valuation thesis.
HAL
US$33.90
Halliburton
7D
-6.4%
1Y
67.3%
SLB
US$46.61
SLB
7D
-7.4%
1Y
40.5%
WTTR
US$18.39
Select Water Solutions
7D
1.9%
1Y
114.1%
Analysis Article • Jun 20

Select Water Solutions (WTTR) Stock Could Be 20% Below Fair Value on Infrastructure Narrative

Select Water Solutions (WTTR) has drawn fresh attention after recent trading, with the stock closing at $17.70. Investors are weighing this price against the company’s latest financial profile and longer term return record. See our latest analysis for Select Water Solutions. While Select Water Solutions’ share price has slipped 1.9% over the past day and 6.4% over the past week, the 90 day share price return of 22.8% alongside a 1 year total shareholder return of 96.6% points to stronger...
NGS
US$42.94
Natural Gas Services Group
7D
2.8%
1Y
66.3%
KGS
US$70.65
Kodiak Gas Services
7D
6.2%
1Y
108.6%
Analysis Article • Jun 19

Kodiak Gas Services (KGS) Stock Could Be 15.9% Undervalued After Revenue And Guidance Lift

Kodiak Gas Services (KGS) recently reported record contract services revenue along with higher full-year adjusted EBITDA guidance, an operational update that puts fresh attention on its natural gas compression business and power generation expansion. See our latest analysis for Kodiak Gas Services. Kodiak Gas Services’ latest update comes after a strong share price run, with an 83.79% year to date share price return and a 109.92% 1 year total shareholder return. However, the 1 month share...
NESR
US$25.17
National Energy Services Reunited
7D
4.8%
1Y
332.5%
Narrative Update • Jun 19

NESR: Energy Security And Q1 Execution Will Support Future Stock Repricing

Analysts have lifted the National Energy Services Reunited price target by a few dollars to a range of about $33 to $35, citing Q1 revenue and EBITDA beats, along with what they describe as a supportive Energy Security backdrop across U.S. Land, International, and Offshore activity. Analyst Commentary Recent Street research on National Energy Services Reunited highlights a tight range of updated price targets and focuses on how the Energy Security theme, Q1 execution, and multi-region activity affect the stock’s risk and reward profile.
NE
US$39.17
Noble
7D
-9.0%
1Y
44.6%
Narrative Update • Jun 18

NE: Refinancing And Stronger Offshore Drilling Demand Will Support Bullish Upside

Analysts have maintained their $59.00 price target on Noble, citing slightly adjusted assumptions for the discount rate, revenue growth, profit margin and future P/E that together support a steady valuation view. What’s in the News for Noble Barclays upgraded Noble Corporation plc to Overweight, citing expectations for stronger offshore drilling demand and referencing a forecast for 9% to 10% growth in upstream spending for 2027 and roughly double digit growth for 2028, along with new floater contracts and extensions that add to Noble’s contract coverage and backlog (source: Barclays upgrade report).
BORR
US$4.37
Borr Drilling
7D
2.3%
1Y
138.8%
Seeking Alpha • Jun 15

Borr Drilling: A Strategic Investor's Trimming Is Putting Near-Term Pressure On The Stock

Summary Borr is undergoing a 30% correction off its recent highs so far as a strategic investor has been trimming their holdings. Other insiders have stepped in to add shares, suggesting the strategic investor isn't sizing down due to negative fundamental information. Borr has made a couple of important asset acquisitions and has taken off the table any near-term refinancing or liquidity risk. The company can gain from both a Hormuz open and Hormuz closed scenario. Read the full article on Seeking Alpha