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U.S. Energy Services Industry Analysis

UpdatedMay 28, 2026
DataAggregated Company Financials
Companies92
  • 7D-5.3%
  • 3M5.8%
  • 1Y83.0%
  • YTD39.4%

Over the last 7 days, the Energy Services industry has dropped 5.3%, driven by Baker Hughes declining 5.4%. Over the past 12 months, the industry was up 83%. 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, 28 May 2026US$343.6bUS$170.2bUS$9.0b25.5x38x2x
Sat, 25 Apr 2026US$324.9bUS$167.9bUS$9.0b31x36x1.9x
Mon, 23 Mar 2026US$292.6bUS$167.1bUS$8.2b27.1x35.5x1.8x
Wed, 18 Feb 2026US$293.5bUS$167.2bUS$7.6b25.3x38.7x1.8x
Fri, 16 Jan 2026US$255.5bUS$166.4bUS$8.5b21.1x29.9x1.5x
Sun, 14 Dec 2025US$228.1bUS$166.4bUS$8.6b18.4x26.7x1.4x
Tue, 11 Nov 2025US$216.2bUS$165.6bUS$8.8b16.7x24.5x1.3x
Thu, 09 Oct 2025US$205.3bUS$166.1bUS$10.0b14.8x20.5x1.2x
Sat, 06 Sep 2025US$201.6bUS$166.2bUS$10.0b14.7x20.1x1.2x
Mon, 04 Aug 2025US$184.0bUS$164.6bUS$11.3b11.7x16.2x1.1x
Wed, 02 Jul 2025US$182.4bUS$171.1bUS$12.2b11x14.9x1.1x
Fri, 30 May 2025US$175.7bUS$171.3bUS$12.2b11.1x14.4x1x
Sun, 27 Apr 2025US$174.6bUS$169.9bUS$12.6b10.9x13.9x1x
Tue, 25 Mar 2025US$207.2bUS$170.8bUS$13.4b13.1x15.4x1.2x
Thu, 20 Feb 2025US$224.6bUS$171.2bUS$13.8b15.6x16.3x1.3x
Sat, 18 Jan 2025US$233.1bUS$171.0bUS$13.7b15.7x17x1.4x
Mon, 16 Dec 2024US$216.9bUS$168.9bUS$13.5b15.6x16x1.3x
Wed, 13 Nov 2024US$230.3bUS$168.8bUS$13.6b16.5x16.9x1.4x
Fri, 11 Oct 2024US$221.3bUS$165.8bUS$14.8b18.8x15x1.3x
Sun, 08 Sep 2024US$206.2bUS$165.7bUS$14.7b17.2x14x1.2x
Tue, 06 Aug 2024US$229.4bUS$166.5bUS$14.6b16.9x15.7x1.4x
Thu, 04 Jul 2024US$238.2bUS$164.6bUS$13.9b13.8x17.1x1.4x
Sat, 01 Jun 2024US$237.8bUS$164.6bUS$13.9b14.7x17.1x1.4x
Mon, 29 Apr 2024US$245.4bUS$164.3bUS$13.3b14.6x18.4x1.5x
Wed, 27 Mar 2024US$248.3bUS$160.7bUS$13.1b16.9x18.9x1.5x
Fri, 23 Feb 2024US$222.5bUS$160.2bUS$12.5b15x17.8x1.4x
Sun, 21 Jan 2024US$221.6bUS$163.1bUS$12.1b16x18.3x1.4x
Tue, 19 Dec 2023US$233.4bUS$160.7bUS$12.1b17.1x19.3x1.5x
Thu, 16 Nov 2023US$245.0bUS$160.5bUS$12.1b18.5x20.3x1.5x
Sat, 14 Oct 2023US$261.7bUS$156.1bUS$11.3b15.5x23.3x1.7x
Mon, 11 Sep 2023US$262.2bUS$155.2bUS$11.2b16.7x23.5x1.7x
Wed, 09 Aug 2023US$570.0bUS$154.1bUS$11.1b20.9x51.2x3.7x
Fri, 07 Jul 2023US$533.4bUS$147.7bUS$8.5b18.7x62.7x3.6x
Sun, 04 Jun 2023US$521.8bUS$148.1bUS$8.5b18x61.4x3.5x
Price to Earnings Ratio

61.4x


Total Market Cap: US$521.8bTotal 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 23.6x202420252026
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 38.0x which is higher than its 3-year average PE of 23.6x.
  • The 3-year average PS ratio of 1.6x is lower than the industry's current PS ratio of 2.0x.
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 Market1.27%
Energy-4.95%
Energy Services-5.25%
Oil and Gas Services-4.31%
Oil and Gas Drilling-12.38%
Industry PE
  • Investors are most optimistic about the Oil and Gas Services industry which is trading above its 3-year average PE ratio of 20.5x.
    • Analysts are expecting annual earnings growth of 16.6%, 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
OII Oceaneering InternationalUS$38.791.0%
+US$38.9m		103.4%PE11.4x
CLB Core LaboratoriesUS$14.022.0%
+US$12.4m		29.7%PE22.3x
BOOM DMC GlobalUS$7.163.2%
+US$4.5m		5.4%PS0.3x
TUSK Mammoth Energy ServicesUS$3.222.2%
+US$3.4m		21.5%PS2.8x
GEOS Geospace TechnologiesUS$8.542.8%
+US$3.0m		50.1%PS1.1x

Latest News

TDW
US$75.09
Tidewater
7D
-11.2%
1Y
83.0%
Narrative Update • May 27

TDW: Strong 2025 Finish And 2026 Revenue Guidance Will Support Further Upside

Analysts have raised Tidewater's price target by $6, citing updated views on revenue growth, profit margins, and a revised future P/E assumption following recent research updates from major firms. Analyst Commentary Bullish analysts have pointed to recent research updates as support for a higher valuation framework, reflected in multiple price target revisions and a reaffirmed view that Tidewater is executing against current expectations.
HAL
US$39.60
Halliburton
7D
-6.4%
1Y
99.4%
SLB
US$56.50
SLB
7D
-1.4%
1Y
68.3%
SEI
US$71.49
Solaris Energy Infrastructure
7D
0.06%
1Y
152.5%
RIG
US$6.18
Transocean
7D
-15.8%
1Y
140.5%
Seeking Alpha • May 26

Transocean: Backlog, Valaris And 2027 Tightness Can Drive The Next Leg

Summary Transocean Ltd. is rated a Buy, with operational momentum, a strong backlog, and the pending Valaris acquisition driving the investment thesis. RIG's $7B backlog, high contract coverage into 2027, and improving utilization underpin forward cash flow visibility and deleveraging. The Valaris deal, if closed, could add $5B in backlog, $200M+ in synergies, and accelerate leverage reduction to 1.5x EBITDA within 24 months. Despite RIG's sharp run and higher valuation, the 2027 setup, backlog strength, and potential for a short squeeze offer further upside. Read the full article on Seeking Alpha
BOOM
US$7.16
DMC Global
7D
3.2%
1Y
5.4%
Narrative Update • May 24

BOOM: Balance Sheet Strength And International Expansion Will Drive Future Upside

Narrative Update on DMC Global Analysts have trimmed their blended price target on DMC Global to a range of about $7 to $10. They cite weaker Q4 results, softer near term expectations, and reduced longer term EBITDA forecasts, while also noting an improving balance sheet and ongoing product and international expansion opportunities.
NE
US$47.39
Noble
7D
-12.2%
1Y
89.5%
CLB
US$14.02
Core Laboratories
7D
2.0%
1Y
29.7%
Narrative Update • May 23

CLB: Middle East Disruptions Will Shape Undervalued Shares And Future P/E

Analysts have kept their $22.00 price target for Core Laboratories unchanged, citing updated assumptions that include a slightly higher discount rate and revenue growth outlook, along with a marginally lower profit margin and P/E expectation. What's in the News Core Laboratories revised its first quarter 2026 guidance, now expecting revenue between US$119,000,000 and US$123,000,000, operating income ex-items of US$5,700,000 to US$7,100,000, and EPS ex-items of US$0.05 to US$0.07, citing impacts from geopolitical conflict in the Middle East, client project delays, travel limits, and supply chain disruptions (Key Developments).
BKR
US$63.20
Baker Hughes
7D
-5.4%
1Y
72.3%
OII
US$38.79
Oceaneering International
7D
1.0%
1Y
103.4%
TUSK
US$3.22
Mammoth Energy Services
7D
2.2%
1Y
21.5%
Seeking Alpha • May 19

Mammoth Energy Services: There Are Good Reasons Behind Its Cheap Valuation

Summary Mammoth Energy Services has rallied 72% YTD, driven by improved performance and a major business restructuring. TUSK’s pivot to aircraft rentals now generates 59% of Q1 2026 revenue, supporting a near doubling of total revenue and return to profitability. Management guides for 60%+ revenue growth and positive adjusted EBITDA in 2026, with SG&A costs expected to drop sharply. I recommend buying TUSK with a $4.00 price target (25% upside), but highlight its short, high-risk operating history and suitability for risk-tolerant investors. Read the full article on Seeking Alpha
VAL
US$91.96
Valaris
7D
-16.1%
1Y
138.2%
FTI
US$67.41
TechnipFMC
7D
-6.7%
1Y
119.4%
NCSM
US$44.17
NCS Multistage Holdings
7D
1.1%
1Y
41.6%
Analysis Article • May 09

Shareholders Shouldn’t Be Too Comfortable With NCS Multistage Holdings' (NASDAQ:NCSM) Strong Earnings

The latest earnings release from NCS Multistage Holdings, Inc. ( NASDAQ:NCSM ) disappointed investors. We did some...
GEOS
US$8.54
Geospace Technologies
7D
2.8%
1Y
50.1%
OMSE
US$4.73
OMS Energy Technologies
7D
0.6%
1Y
-48.4%