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U.S. Energy Services Industry Analysis

UpdatedJun 20, 2026
DataAggregated Company Financials
Companies93
  • 7D-9.6%
  • 3M-0.2%
  • 1Y51.8%
  • YTD26.2%

Over the last 7 days, the Energy Services industry has dropped 9.6%, driven by a pullback from SLB of 14%. In contrast, Solaris Energy Infrastructure has gained 12%. Over the past 12 months, the industry was up 52%. Looking forward, earnings are forecast to grow by 22% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 20 Jun 2026US$298.5bUS$170.2bUS$9.0b26.4x33x1.8x
Mon, 18 May 2026US$333.9bUS$169.1bUS$8.9b26.6x37.5x2x
Wed, 15 Apr 2026US$315.9bUS$167.9bUS$8.3b25.9x38.3x1.9x
Fri, 13 Mar 2026US$293.5bUS$167.3bUS$8.2b25.9x36x1.8x
Sun, 08 Feb 2026US$286.5bUS$167.2bUS$7.5b24.3x38x1.7x
Tue, 06 Jan 2026US$243.6bUS$166.4bUS$8.5b20.1x28.5x1.5x
Thu, 04 Dec 2025US$223.0bUS$166.4bUS$8.6b17.6x26x1.3x
Sat, 01 Nov 2025US$217.1bUS$165.5bUS$8.8b16.7x24.8x1.3x
Mon, 29 Sep 2025US$211.2bUS$166.2bUS$10.0b15.2x21.1x1.3x
Wed, 27 Aug 2025US$196.6bUS$166.2bUS$10.0b14.4x19.6x1.2x
Fri, 25 Jul 2025US$188.3bUS$164.7bUS$11.5b11.8x16.3x1.1x
Sun, 22 Jun 2025US$191.7bUS$171.1bUS$12.2b11.6x15.7x1.1x
Tue, 20 May 2025US$182.7bUS$171.3bUS$12.3b11.2x14.9x1.1x
Thu, 17 Apr 2025US$171.4bUS$170.7bUS$13.4b10.4x12.7x1x
Sat, 15 Mar 2025US$197.8bUS$170.7bUS$13.3b12.6x14.8x1.2x
Mon, 10 Feb 2025US$221.1bUS$170.5bUS$13.8b15.4x16x1.3x
Wed, 08 Jan 2025US$217.5bUS$169.8bUS$13.6b16.1x16x1.3x
Fri, 06 Dec 2024US$226.4bUS$168.9bUS$13.5b16.3x16.8x1.3x
Sun, 03 Nov 2024US$204.8bUS$168.0bUS$13.8b17.2x14.8x1.2x
Tue, 01 Oct 2024US$213.3bUS$165.8bUS$14.8b18x14.4x1.3x
Thu, 29 Aug 2024US$227.5bUS$166.7bUS$14.4b18.4x15.8x1.4x
Sat, 27 Jul 2024US$246.7bUS$167.7bUS$14.4b15.7x17.1x1.5x
Mon, 24 Jun 2024US$229.7bUS$164.6bUS$13.9b13.7x16.5x1.4x
Wed, 22 May 2024US$247.1bUS$164.6bUS$13.9b14.4x17.8x1.5x
Fri, 19 Apr 2024US$242.9bUS$162.0bUS$13.4b14.5x18.1x1.5x
Sun, 17 Mar 2024US$240.7bUS$160.7bUS$13.2b16.6x18.3x1.5x
Tue, 13 Feb 2024US$218.2bUS$159.2bUS$12.3b15.8x17.7x1.4x
Thu, 11 Jan 2024US$222.4bUS$161.6bUS$12.1b15.1x18.4x1.4x
Sat, 09 Dec 2023US$220.2bUS$160.7bUS$12.1b16.3x18.2x1.4x
Mon, 06 Nov 2023US$251.9bUS$159.3bUS$12.4b15.2x20.3x1.6x
Wed, 04 Oct 2023US$256.5bUS$155.2bUS$11.2b15.5x23x1.7x
Fri, 01 Sep 2023US$255.4bUS$155.2bUS$11.2b15.9x22.9x1.6x
Sun, 30 Jul 2023US$562.7bUS$153.0bUS$11.0b21.4x51.3x3.7x
Tue, 27 Jun 2023US$522.2bUS$147.7bUS$8.5b17.5x61.4x3.5x
Price to Earnings Ratio

61.4x


Total Market Cap: US$522.2bTotal 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 23.1x202420252026
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 33.0x which is higher than its 3-year average PE of 23.1x.
  • The 3-year average PS ratio of 1.5x is lower than the industry's current PS ratio of 1.8x.
Past Earnings Growth
  • The earnings for companies in the Energy Services industry have grown 2.1% 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 Market1.40%
Energy-6.04%
Energy Services-9.62%
Oil and Gas Services-9.36%
Oil and Gas Drilling-11.82%
Industry PE
  • Investors are most optimistic about the Oil and Gas Services industry which is trading above its 3-year average PE ratio of 19.8x.
    • Analysts are expecting annual earnings growth of 17.3%, 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
SEI Solaris Energy InfrastructureUS$82.8812.0%
+US$518.0m		187.8%PE108.7x
AROC ArchrockUS$36.971.0%
+US$63.1m		48.2%PE20.2x
WBI WaterBridge InfrastructureUS$33.192.3%
+US$35.3m		n/aPS2.5x
NINE Nine Energy ServiceUS$11.258.1%
+US$11.7m		n/aPE2.5x
KGS Kodiak Gas ServicesUS$69.180.1%
+US$9.9m		100.4%PE104.4x

Latest News

NOV
US$18.66
NOV
7D
-11.7%
1Y
38.0%
Seeking Alpha • 2h

NOV: Dim Earnings Expected To Change With Robust Backlog Execution In 2026 (Hold)

Summary NOV Inc. remains a hold, with shares up 20% since October 2024 and currently fairly valued. In the Q1 2026 financial report, revenue declined 2.43% YoY, while operating profit fell 69.08% YoY. Middle East logistics disruptions impacted Q1 results, but reopening of the Strait of Hormuz and robust offshore bookings support FY 2026 revenue growth. NOV's forward EV/Sales of 0.90 and 8.95% YoY upside suggest limited near-term appreciation; dividend yield stands at 2.41%. Read the full article on Seeking Alpha
ESOA
US$16.95
Energy Services of America
7D
1.5%
1Y
72.3%
FTI
US$65.17
TechnipFMC
7D
-7.9%
1Y
85.4%
Analysis Article • 14h

TechnipFMC (FTI) Stock Could Be 14.2% Undervalued As Subsea Backlog Supports The Story

TechnipFMC (FTI) has drawn attention after a period of mixed share performance, with the stock down about 12% over the past month and roughly flat over the past 3 months. See our latest analysis for TechnipFMC. Recent trading has been weaker for TechnipFMC, with the share price down 2.75% over the last day and 7.69% over the past week, extending a 30 day share price decline of 11.79%. This comes even as the year to date share price return stands at 37.75% and the 1 year total shareholder...
KGS
US$69.18
Kodiak Gas Services
7D
0.1%
1Y
100.4%
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...
AROC
US$36.97
Archrock
7D
1.0%
1Y
48.2%
Narrative Update • Jun 19

AROC: 2026 Backlog Strength And Compression Demand Will Support Future Cash Flow

Analysts have raised their fair value estimate for Archrock to $42.33 from $41.89, reflecting updated price targets around $40 from several firms and a modestly lower discount rate in their models. Analyst Commentary Recent Street research on Archrock clusters around price targets near US$40.
SLB
US$48.09
SLB
7D
-14.4%
1Y
34.2%
Narrative Update • Jun 18

SLB: Digital And AI Momentum Will Test Fairly Valued Stock Returns

SLB's analyst price target has seen a series of upward revisions, including moves such as $61 to $64 at Stifel and $56 to $60 at BofA, as analysts highlight the company's digital capabilities and update their models following recent earnings and guidance. Analyst Commentary Recent research on SLB has centered on the company’s digital profile and updated financial models following earnings and regulatory filings.
NE
US$41.68
Noble
7D
-11.2%
1Y
45.2%
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).
BKR
US$58.41
Baker Hughes
7D
-7.5%
1Y
49.8%
VAL
US$78.56
Valaris
7D
-12.7%
1Y
73.0%
RIG
US$5.31
Transocean
7D
-12.1%
1Y
82.5%
WBI
US$33.19
WaterBridge Infrastructure
7D
2.3%
1Y
n/a
HAL
US$34.93
Halliburton
7D
-11.8%
1Y
56.8%
Narrative Update • Jun 16

HAL: Future Returns Will Rely On Executing New Global Energy Projects

Halliburton's analyst price target has edged higher by $0.56 to $44.24, reflecting updated models that incorporate a slightly lower discount rate, modestly adjusted revenue growth and margin assumptions, and a future P/E estimate aligned with the series of recent target increases across the Street. Analyst Commentary Recent Street research on Halliburton has been active, with several firms adjusting price targets and, in one case, issuing an upgrade.
SEI
US$82.88
Solaris Energy Infrastructure
7D
12.0%
1Y
187.8%
NINE
US$11.25
Nine Energy Service
7D
8.1%
1Y
n/a
New Narrative • Jun 10

Completions Focus And International Tools Exposure Will Support Long Term Business Resilience

Catalysts About Nine Energy Service Nine Energy Service provides completion focused services and tools to oil and gas operators across U.S. land and select international markets. What are the underlying business or industry changes driving this perspective?
LSE
US$4.01
Leishen Energy Holding
7D
1.6%
1Y
-33.7%
VNTG
US$0.85
Vantage
7D
13.9%
1Y
-77.8%