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U.S. Energy Services Industry Analysis

UpdatedJun 07, 2026
DataAggregated Company Financials
Companies93
  • 7D-0.8%
  • 3M8.6%
  • 1Y71.7%
  • YTD35.8%

Over the last 7 days, the Energy Services industry has remained flat. The past year has been better, since the industry has gained 72% in that time. 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
Mon, 08 Jun 2026US$321.1bUS$170.2bUS$9.0b25.5x35.5x1.9x
Wed, 06 May 2026US$339.0bUS$168.3bUS$9.0b26.6x37.7x2x
Fri, 03 Apr 2026US$302.3bUS$167.9bUS$8.3b26x36.6x1.8x
Sun, 01 Mar 2026US$306.0bUS$167.5bUS$8.0b27.5x38.3x1.8x
Tue, 27 Jan 2026US$267.9bUS$166.8bUS$7.9b22.2x33.7x1.6x
Thu, 25 Dec 2025US$220.6bUS$166.4bUS$8.6b18.1x25.8x1.3x
Sat, 22 Nov 2025US$211.6bUS$166.5bUS$8.5b16.6x24.9x1.3x
Mon, 20 Oct 2025US$193.2bUS$165.2bUS$9.5b14.1x20.3x1.2x
Wed, 17 Sep 2025US$198.6bUS$166.2bUS$10.0b15.3x19.8x1.2x
Fri, 15 Aug 2025US$187.9bUS$166.2bUS$10.0b13.2x18.7x1.1x
Sun, 13 Jul 2025US$193.6bUS$170.2bUS$12.1b11.9x16x1.1x
Tue, 10 Jun 2025US$182.4bUS$171.1bUS$12.2b11x14.9x1.1x
Thu, 08 May 2025US$172.4bUS$170.6bUS$12.4b10.6x13.8x1x
Sat, 05 Apr 2025US$191.6bUS$170.7bUS$13.4b10.6x14.2x1.1x
Mon, 03 Mar 2025US$214.6bUS$171.0bUS$13.5b13x15.9x1.3x
Wed, 29 Jan 2025US$224.7bUS$170.3bUS$13.7b14.6x16.4x1.3x
Fri, 27 Dec 2024US$205.9bUS$168.9bUS$13.5b15.3x15.2x1.2x
Sun, 24 Nov 2024US$234.2bUS$168.9bUS$13.5b16.2x17.3x1.4x
Tue, 22 Oct 2024US$210.6bUS$166.6bUS$14.8b18.1x14.3x1.3x
Thu, 19 Sep 2024US$214.1bUS$165.8bUS$14.8b17.6x14.5x1.3x
Sat, 17 Aug 2024US$226.9bUS$166.6bUS$14.4b18.5x15.8x1.4x
Mon, 15 Jul 2024US$239.1bUS$164.6bUS$13.9b14.9x17.2x1.5x
Wed, 12 Jun 2024US$232.3bUS$164.6bUS$13.9b14.4x16.7x1.4x
Fri, 10 May 2024US$240.3bUS$164.5bUS$13.9b14.6x17.3x1.5x
Sun, 07 Apr 2024US$262.5bUS$162.2bUS$13.5b16.3x19.5x1.6x
Tue, 05 Mar 2024US$224.7bUS$161.0bUS$13.3b15.2x16.9x1.4x
Thu, 01 Feb 2024US$227.3bUS$163.5bUS$12.3b16.4x18.5x1.4x
Sat, 30 Dec 2023US$237.8bUS$161.6bUS$12.1b15.9x19.7x1.5x
Mon, 27 Nov 2023US$237.8bUS$160.7bUS$12.1b17.8x19.6x1.5x
Wed, 25 Oct 2023US$258.2bUS$156.9bUS$11.5b15.2x22.5x1.6x
Fri, 22 Sep 2023US$259.7bUS$155.2bUS$11.2b16.9x23.3x1.7x
Sun, 20 Aug 2023US$621.6bUS$155.2bUS$11.2b15.7x55.7x4x
Tue, 18 Jul 2023US$558.7bUS$147.7bUS$8.5b21.5x65.7x3.8x
Thu, 15 Jun 2023US$522.5bUS$148.1bUS$8.5b18.4x61.4x3.5x
Price to Earnings Ratio

61.4x


Total Market Cap: US$522.5bTotal 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 35.5x which is higher than its 3-year average PE of 23.4x.
  • 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-2.79%
Energy2.13%
Energy Services-0.85%
Oil and Gas Services-0.66%
Oil and Gas Drilling-2.41%
Industry PE
  • Investors are most optimistic about the Oil and Gas Services industry which is trading above its 3-year average PE ratio of 20.2x.
    • 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
SLB SLBUS$54.870.6%
+US$478.4m		62.0%PE24.6x
HAL HalliburtonUS$39.180.8%
+US$275.7m		90.9%PE21.3x
ACDC ProFrac HoldingUS$6.9313.4%
+US$148.4m		-21.9%PS0.7x
AROC ArchrockUS$34.202.1%
+US$124.4m		29.5%PE18.6x
PTEN Patterson-UTI EnergyUS$11.512.7%
+US$113.9m		98.4%PS0.9x

Latest News

XPRO
US$15.38
Expro Group Holdings
7D
4.1%
1Y
74.8%
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$66.82
TechnipFMC
7D
-2.3%
1Y
105.5%
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$62.59
Baker Hughes
7D
-2.0%
1Y
65.1%
KGS
US$65.11
Kodiak Gas Services
7D
-2.6%
1Y
76.0%
Narrative Update • Jun 05

KGS: Longer Term Contracts And Power Expansion Will Drive Future Upside

The analyst fair value estimate for Kodiak Gas Services has moved from about $79.33 to about $82.21, as analysts factor in higher projected revenue growth, a slightly lower discount rate, modestly stronger margin assumptions, and support from recent bullish Street research on compression and behind the meter power opportunities. Analyst Commentary Recent Street research on Kodiak Gas Services has been broadly constructive, with several firms updating price targets and coverage as they reassess the company’s earnings power, contract profile, and newer power-related opportunities.
SDRL
US$44.38
Seadrill
7D
-5.9%
1Y
76.3%
SLB
US$54.87
SLB
7D
0.6%
1Y
62.0%
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.
NE
US$45.41
Noble
7D
-2.3%
1Y
64.3%
Narrative Update • Jun 04

NE: 2026 Refinancing And Extended Credit Facility Will Support Bullish Upside

Analysts have maintained Noble's $59.00 price target, citing updated assumptions for the discount rate, revenue growth, profit margin, and future P/E that support a consistent view of the stock's valuation. What's in the News Noble priced an upsized offering of US$800 million in unsecured 6.250% Senior Notes due 2034, increased from a proposed US$500 million.
AROC
US$34.20
Archrock
7D
2.1%
1Y
29.5%
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.
ACDC
US$6.93
ProFrac Holding
7D
13.4%
1Y
-21.9%
Narrative Update • Jun 04

ACDC: Closed Loop Fracturing Efficiency Gains Will Not Sustain Elevated Future P/E

Analysts have modestly lifted their fair value estimate for ProFrac Holding from $4.40 to $4.87 as updated assumptions for revenue growth, profit margins and a lower future P/E multiple reshape their price target framework. What's in the News ProFrac Holding and Seismos announced the completion of a fully closed-loop fracturing program on a 4-well pad in the Eagle Ford and Austin Chalk basins, using real-time in-well subsurface measurements and automated surface actuation.
PTEN
US$11.51
Patterson-UTI Energy
7D
2.7%
1Y
98.4%
Narrative Update • Jun 03

PTEN: Rising EBITDA Hopes Will Likely Outrun U S Shale Activity Risks

Analysts have nudged Patterson-UTI Energy's target higher to a range of $13 to $15, citing updated models that reflect revised EBITDA expectations, U.S. land drilling and frac outlooks, and what they view as improving U.S. E&P spending trends. Analyst Commentary Recent research points to a constructive tone around Patterson-UTI Energy, with several firms updating models, refreshing estimates and adjusting price targets following management meetings, investor conferences and new presentations.
HAL
US$39.18
Halliburton
7D
0.8%
1Y
90.9%
RIG
US$5.95
Transocean
7D
-3.9%
1Y
115.6%
WFRD
US$97.17
Weatherford International
7D
-6.2%
1Y
100.9%
VAL
US$88.54
Valaris
7D
-4.4%
1Y
112.8%
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.
NOV
US$20.14
NOV
7D
0.9%
1Y
59.6%
Narrative Update • May 26

NOV: Fair Outlook As Structural Projects And Execution Risks Shape Future Returns

NOV's analyst price target has been lifted modestly to $21.40 from $20.65 as analysts factor in updated oilfield services models and forecasts that sit above Street EBITDA expectations in future years. Analyst Commentary Recent research updates on NOV show a mix of optimism on long term earnings power and caution around execution risks and macro headlines.
STAK
US$4.93
STAK
7D
413.5%
1Y
177.0%