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U.S. Energy Services Industry Analysis

UpdatedJul 08, 2026
DataAggregated Company Financials
Companies92
  • 7D-1.7%
  • 3M-9.7%
  • 1Y43.4%
  • YTD21.5%

Over the last 7 days, the Energy Services industry has dropped 3.5%, driven by pullbacks in Baker Hughes and Solaris Energy Infrastructure of 1.9% and 19%, respectively. Over the past 12 months, the industry was up 47%. Looking forward, 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
Wed, 08 Jul 2026US$282.1bUS$170.1bUS$9.0b25.7x31.4x1.7x
Fri, 05 Jun 2026US$332.0bUS$170.2bUS$9.0b27.7x36.7x1.9x
Sun, 03 May 2026US$340.5bUS$168.3bUS$9.0b26.9x37.8x2x
Tue, 31 Mar 2026US$317.2bUS$167.1bUS$8.2b28x38.6x1.9x
Thu, 26 Feb 2026US$307.3bUS$167.3bUS$8.2b26.5x37.4x1.8x
Sat, 24 Jan 2026US$268.2bUS$167.3bUS$8.2b22.2x32.5x1.6x
Mon, 22 Dec 2025US$219.0bUS$166.4bUS$8.6b18x25.6x1.3x
Wed, 19 Nov 2025US$215.5bUS$166.5bUS$8.5b16.4x25.3x1.3x
Fri, 17 Oct 2025US$193.1bUS$165.7bUS$10.0b14.1x19.3x1.2x
Sun, 14 Sep 2025US$200.8bUS$166.2bUS$10.0b15.1x20x1.2x
Tue, 12 Aug 2025US$185.9bUS$166.1bUS$10.0b12.1x18.5x1.1x
Thu, 10 Jul 2025US$194.6bUS$170.2bUS$12.1b11.8x16.1x1.1x
Sat, 07 Jun 2025US$177.8bUS$171.1bUS$12.2b11x14.6x1x
Mon, 05 May 2025US$177.2bUS$170.2bUS$12.4b10.9x14.2x1x
Wed, 02 Apr 2025US$209.8bUS$170.7bUS$13.4b13.2x15.6x1.2x
Fri, 28 Feb 2025US$211.2bUS$171.0bUS$13.3b13.7x15.9x1.2x
Sun, 26 Jan 2025US$226.8bUS$170.3bUS$13.7b15.4x16.6x1.3x
Tue, 24 Dec 2024US$201.8bUS$168.9bUS$13.5b15.1x14.9x1.2x
Thu, 21 Nov 2024US$224.1bUS$168.9bUS$13.5b15.4x16.6x1.3x
Sat, 19 Oct 2024US$217.3bUS$166.6bUS$14.8b18x14.7x1.3x
Mon, 16 Sep 2024US$204.1bUS$165.8bUS$14.8b17x13.8x1.2x
Wed, 14 Aug 2024US$224.7bUS$166.7bUS$14.4b17.4x15.6x1.3x
Fri, 12 Jul 2024US$232.1bUS$164.6bUS$13.9b15x16.7x1.4x
Sun, 09 Jun 2024US$226.4bUS$164.6bUS$13.9b14.2x16.3x1.4x
Tue, 07 May 2024US$240.1bUS$165.5bUS$13.9b13.8x17.3x1.5x
Thu, 04 Apr 2024US$261.2bUS$162.2bUS$13.5b16.1x19.4x1.6x
Sat, 02 Mar 2024US$221.2bUS$161.1bUS$13.3b15.5x16.6x1.4x
Mon, 29 Jan 2024US$235.2bUS$163.6bUS$12.3b16.2x19.1x1.4x
Wed, 27 Dec 2023US$238.6bUS$160.7bUS$12.1b16.4x19.7x1.5x
Fri, 24 Nov 2023US$237.1bUS$160.7bUS$12.1b17.8x19.6x1.5x
Sun, 22 Oct 2023US$258.8bUS$156.7bUS$11.5b15.4x22.6x1.7x
Tue, 19 Sep 2023US$270.6bUS$155.2bUS$11.2b17.8x24.2x1.7x
Thu, 17 Aug 2023US$619.3bUS$155.2bUS$11.2b15.2x55.5x4x
Sat, 15 Jul 2023US$558.8bUS$147.7bUS$8.5b21.1x65.7x3.8x
Price to Earnings Ratio

65.7x


Total Market Cap: US$558.8bTotal 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 22.6x202420252026
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 31.4x which is higher than its 3-year average PE of 22.6x.
  • The industry is trading close to its 3-year average PS ratio of 1.5x.
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-0.65%
Energy2.67%
Energy Services-1.66%
Oil and Gas Drilling1.50%
Oil and Gas Services-2.00%
Industry PE
  • Investors are most optimistic about the Oil and Gas Services industry which is trading above its 3-year average PE ratio of 19.3x.
    • 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 58% 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 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$68.112.7%
+US$721.7m		92.8%PE25.1x
TDW TidewaterUS$71.156.8%
+US$224.8m		37.3%PE11.9x
NE NobleUS$38.362.8%
+US$169.1m		27.0%PE26.7x
RIG TransoceanUS$5.022.7%
+US$145.1m		71.3%PS1.4x
VAL ValarisUS$74.592.7%
+US$137.8m		52.5%PE5.1x

Latest News

RIG
US$5.02
Transocean
7D
2.7%
1Y
71.3%
LBRT
US$23.66
Liberty Energy
7D
-9.7%
1Y
86.3%
SEI
US$65.35
Solaris Energy Infrastructure
7D
-18.8%
1Y
101.3%
AROC
US$37.93
Archrock
7D
-6.8%
1Y
57.8%
Seeking Alpha • 18h

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
NE
US$38.36
Noble
7D
2.8%
1Y
27.0%
Seeking Alpha • 20h

Noble Reflects A Prolonged $70 Oil Price Environment (Upgrade)

Summary Noble Corporation is upgraded to "Hold" as shares now trade near fair value, offering a ~7% free cash flow yield. NE’s strong contract backlog secures revenue through 2027-2028, with 65% of 2024 and 61% of 2025 under contract. Management’s 2026 guidance remains credible; modest oil price impact is expected, with $225 million in free cash flow or $1.40/share projected. Balance sheet strength, simplified capital structure, and a secure 5.3% dividend support NE’s resilience despite limited long-term growth prospects. Read the full article on Seeking Alpha
BORR
US$4.46
Borr Drilling
7D
8.0%
1Y
110.4%
BKR
US$54.47
Baker Hughes
7D
-1.9%
1Y
35.8%
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.
TTI
US$9.26
TETRA Technologies
7D
-18.3%
1Y
163.8%
PUMP
US$12.30
ProPetro Holding
7D
-14.2%
1Y
85.2%
Narrative Update • Jul 02

PUMP: Expanding Power Capacity Will Heighten Execution Risk For Future Earnings

Analysts have lifted the fair value estimate for ProPetro Holding from $10.04 to $11.10. This reflects updated views that its expanded power generation capacity, growing PROPWR segment and recent price target increases across several firms could support stronger revenue growth and margins over time.
VAL
US$74.59
Valaris
7D
2.7%
1Y
52.5%
SDRL
US$38.72
Seadrill
7D
2.4%
1Y
28.0%
Narrative Update • Jun 30

SDRL: Extended Buybacks And Raised Guidance Will Support Future Upside Potential

Analysts have lifted their Seadrill price target from about $51.71 to roughly $56.43 as they factor in updated assumptions for revenue growth, profit margins, discount rates, and future P/E levels. What's in the News Seadrill extended its existing share repurchase program through December 31, 2026, with about US$208 million remaining under the original US$500 million authorization, giving the company continued flexibility on timing and method of buybacks.
FTI
US$68.11
TechnipFMC
7D
2.7%
1Y
92.8%
Seeking Alpha • Jun 29

TechnipFMC: Pricey And Not With The Best Outlook

Summary TechnipFMC plc remains a Hold as offshore oil and gas CapEx discipline and oversupply limit near-term project announcements. FTI's Subsea segment pipeline grew 13.2% YoY to $30B, but revenue recognition lags, constraining top-line acceleration. FTI shares trade at a 50%–60% premium to sector medians, with current growth rates insufficient to justify elevated valuation. Industry headwinds—falling drillship dayrates, declining CapEx, and flat subsea well counts—temper bullish outlook despite FTI backlog visibility. Read the full article on Seeking Alpha
TDW
US$71.15
Tidewater
7D
6.8%
1Y
37.3%
AESI
US$13.98
Atlas Energy Solutions
7D
-15.8%
1Y
-3.1%
KGS
US$68.01
Kodiak Gas Services
7D
-9.5%
1Y
109.6%
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.
WFRD
US$83.37
Weatherford International
7D
2.3%
1Y
45.9%
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.