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U.S. Energy Services Industry Analysis

UpdatedJul 23, 2026
DataAggregated Company Financials
Companies88
  • 7D0.6%
  • 3M-8.7%
  • 1Y49.1%
  • YTD27.2%

Over the last 7 days, the Energy Services industry has remained flat, although notably TechnipFMC gained 3.9%. As for the the longer term, the industry is up 49% over the past 12 months. 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, 23 Jul 2026US$297.7bUS$170.2bUS$8.9b27.7x33.3x1.7x
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
Price to Earnings Ratio

51.3x


Total Market Cap: US$562.7bTotal Earnings: US$11.0bTotal Revenue: US$153.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Energy Services Industry Price to Earnings3Y Average 22.2x202420252026
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 33.3x which is higher than its 3-year average PE of 22.2x.
  • 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 declined 6.6% per year over the last three years.
  • Meanwhile revenues for these companies have grown 3.6% 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, which has decreased profits.

Industry Trends

Which industries have driven the changes within the U.S. Energy industry?

US Market-1.35%
Energy4.87%
Energy Services0.62%
Oil and Gas Drilling4.43%
Oil and Gas Services0.20%
Industry PE
  • Investors are most optimistic about the Oil and Gas Services industry which is trading above its 3-year average PE ratio of 18.8x.
    • Analysts are expecting annual earnings growth of 16.8%, which is higher than its past year's earnings decline of 24.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Oil and Gas Drilling industry, expecting annual earnings growth of 56% 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$75.103.9%
+US$1.1b		123.6%PE27.7x
NE NobleUS$43.346.8%
+US$440.3m		51.7%PE30.2x
WFRD Weatherford InternationalUS$87.116.5%
+US$380.2m		49.2%PE17.1x
NOV NOVUS$20.334.8%
+US$337.4m		48.3%PE80.2x
PTEN Patterson-UTI EnergyUS$10.728.9%
+US$334.1m		73.7%PS0.9x

Latest News

HAL
US$33.03
Halliburton
7D
-6.3%
1Y
50.3%
Seeking Alpha • 4h

Halliburton: Q2 Sell-Off Creates A Buying Opportunity

Summary Halliburton remains a strong buy after Q2 results, despite a sharp sell-off driven by Middle East concerns and flat-to-down near-term guidance. Significant international contract wins, especially in Iraq and with Aramco, plus technology exports like Zeus electric fleets, underpin long-term growth and margin expansion. Q2 beat on EPS ($0.55) and revenue ($5.7B); strong North American stimulation and South American growth offset some regional softness and margin compression. HAL trades at an EV/EBITDA discount to peers; with upside to $44–$53 if EPS targets are met, I see current levels as a buy/add point, especially on further dips. Read the full article on Seeking Alpha
WFRD
US$87.11
Weatherford International
7D
6.5%
1Y
49.2%
Narrative Update • Jul 22

WFRD: Offshore And NCS Acquisition Synergies Will Support Future Earnings Repricing

Analysts have trimmed their Weatherford International price targets, with the model fair value moving from about $150.69 to $145.44. This reflects slightly higher discount rate assumptions and updated views on sector risks, despite broadly constructive commentary on margins and regional growth opportunities.
FTI
US$75.10
TechnipFMC
7D
3.9%
1Y
123.6%
Narrative Update • Jul 21

FTI: Expanding Subsea Contract Backlog And Buybacks Will Support Future Upside

Analysts have trimmed the TechnipFMC fair value estimate to $87 from $90, as slightly higher discount rate assumptions offset modestly stronger outlooks for revenue growth, profit margins, and future P/E multiples supported by a series of recent price target revisions across the Street. Analyst Commentary Street research on TechnipFMC has leaned constructive, with several bullish analysts revising price targets higher and pointing to specific drivers that they view as supportive for the stock's valuation and execution outlook.
XPRO
US$15.75
Expro
7D
-4.2%
1Y
75.0%
Narrative Update • Jul 21

XPRO: Middle East Recovery And Index Moves Will Drive Future Repricing

Analysts have trimmed their price target on Expro stock to $20 from $23, reflecting updated views on sector risks tied to geopolitics and oil prices, along with mixed opinions on valuation and the company’s capital return approach. Analyst Commentary Recent research on Expro shows that views are mixed, but there is a clear group of bullish analysts who see room for the stock to re-rate as sector conditions evolve and company specific decisions play out.
BKR
US$56.60
Baker Hughes
7D
-1.1%
1Y
26.7%
Narrative Update • Jul 20

BKR: Future Returns Will Balance Data Center Power Deals And Geopolitical Energy Risks

The Baker Hughes analyst price target increases slightly to $53.49 from $52.30, as analysts factor in a modestly lower discount rate, a neutral adjustment to assumed revenue growth, and a slightly higher profit margin outlook within a similar future P/E framework. Analyst Commentary Recent Street research on Baker Hughes shows a mix of optimism around long term energy security themes and more cautious adjustments tied to near term volatility in oil prices, geopolitics, and the timing of industry spending.
SEI
US$63.04
Solaris Energy Infrastructure
7D
-6.1%
1Y
114.3%
Narrative Update • Jul 20

SEI: Expanding Contracted Gas Capacity Will Support Future AI Power Demands

Analysts have nudged the Solaris Energy Infrastructure fair value estimate higher from $110.80 to about $118.10, citing expanded power contracts with data center customers, fresh coverage initiations with targets up to $120, and model updates that reflect revised growth, profitability, and future P/E assumptions. Analyst Commentary Recent Street research on Solaris Energy Infrastructure highlights growing interest in the stock as the company builds out contracted power capacity for data centers and other large loads facing grid-interconnection delays.
HP
US$35.24
Helmerich & Payne
7D
5.5%
1Y
106.6%
WHD
US$55.98
Cactus
7D
5.6%
1Y
21.0%
Narrative Update • Jul 16

WHD: Energy Security And Offshore Cycles Will Shape Medium Term Earnings Power

Cactus' analyst price target has moved from an implied fair value of $42.00 to $50.00 as analysts point to stronger modeled profit margins, slightly higher revenue growth assumptions, and sector research that highlights energy security and offshore equipment trends expected to remain supportive into the late 2020s. Analyst Commentary Recent Street research on Cactus shows a series of higher price targets clustered in the mid to upper US$60s, with some reaching into the low US$70s.
NOV
US$20.33
NOV
7D
4.8%
1Y
48.3%
OII
US$45.00
Oceaneering International
7D
5.5%
1Y
100.6%
NE
US$43.34
Noble
7D
6.8%
1Y
51.7%
TTI
US$9.08
TETRA Technologies
7D
-3.1%
1Y
146.1%
BORR
US$4.21
Borr Drilling
7D
-2.5%
1Y
94.0%
PTEN
US$10.72
Patterson-UTI Energy
7D
8.9%
1Y
73.7%
KGS
US$67.00
Kodiak Gas Services
7D
-0.9%
1Y
112.1%
Narrative Update • Jul 09

KGS: Behind The Meter Power Agreement Will Drive Future Re Rating Potential

The analyst price target on Kodiak Gas Services has been revised from $66.47 to $94.00, with analysts pointing to updated assumptions for revenue growth, profit margins, and longer term earnings multiples, supported by recent research that highlights expanding compression and behind-the-meter power opportunities. Analyst Commentary Recent Street research on Kodiak Gas Services points to increasingly constructive sentiment, with several bullish analysts highlighting catalysts tied to compression demand, behind the meter power, and expanding opportunities in key basins such as the Permian.
NGS
US$39.55
Natural Gas Services Group
7D
-3.8%
1Y
61.8%
Narrative Update • Jul 09

NGS: Defensive Index Additions And Dividend Hike Will Support Future Upside

Analysts have raised their price target for Natural Gas Services Group from $47.25 to $56.50, citing updated assumptions related to revenue growth, profit margins, and a slightly higher discount rate and P/E outlook. What’s in the News for Natural Gas Services Group Natural Gas Services Group, Inc.