Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

U.S. Energy Services Industry Analysis

UpdatedFeb 01, 2026
DataAggregated Company Financials
Companies88
  • 7D1.6%
  • 3M22.1%
  • 1Y23.7%
  • YTD17.5%

In the last week, the Energy Services industry is up 1.6%, with Baker Hughes up 3.9%. This means that the industry has gained 24% over the past year. As for the next few years, earnings are expected to grow by 17% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 01 Feb 2026US$272.3bUS$166.9bUS$7.9b22.4x34.5x1.6x
Tue, 30 Dec 2025US$220.8bUS$166.4bUS$8.6b18.1x25.8x1.3x
Thu, 27 Nov 2025US$217.9bUS$166.4bUS$8.6b16.9x25.4x1.3x
Sat, 25 Oct 2025US$216.9bUS$165.2bUS$9.9b16.3x21.9x1.3x
Mon, 22 Sep 2025US$199.6bUS$166.2bUS$10.0b14.7x19.9x1.2x
Wed, 20 Aug 2025US$187.3bUS$166.2bUS$10.0b13.6x18.7x1.1x
Fri, 18 Jul 2025US$178.5bUS$166.6bUS$11.8b11.3x15.1x1.1x
Sun, 15 Jun 2025US$193.3bUS$171.1bUS$12.2b10.7x15.8x1.1x
Tue, 13 May 2025US$177.2bUS$171.3bUS$12.4b11x14.3x1x
Thu, 10 Apr 2025US$159.6bUS$170.7bUS$13.4b10.9x11.9x0.9x
Sat, 08 Mar 2025US$198.5bUS$171.3bUS$13.6b12.7x14.6x1.2x
Mon, 03 Feb 2025US$221.2bUS$170.6bUS$14.4b14.8x15.4x1.3x
Wed, 01 Jan 2025US$207.8bUS$168.9bUS$13.5b16.1x15.4x1.2x
Fri, 29 Nov 2024US$230.6bUS$168.9bUS$13.5b16x17.1x1.4x
Sun, 27 Oct 2024US$210.5bUS$167.6bUS$14.3b17.7x14.7x1.3x
Tue, 24 Sep 2024US$218.5bUS$165.8bUS$14.8b18.1x14.8x1.3x
Thu, 22 Aug 2024US$221.1bUS$166.7bUS$14.4b17.9x15.4x1.3x
Sat, 20 Jul 2024US$249.9bUS$164.5bUS$13.9b15.7x18x1.5x
Mon, 17 Jun 2024US$221.3bUS$164.6bUS$13.9b13.4x15.9x1.3x
Wed, 15 May 2024US$242.6bUS$164.4bUS$13.9b14.4x17.5x1.5x
Fri, 12 Apr 2024US$260.1bUS$162.2bUS$13.5b16x19.3x1.6x
Sun, 10 Mar 2024US$229.5bUS$161.0bUS$13.3b14.9x17.3x1.4x
Tue, 06 Feb 2024US$214.1bUS$159.1bUS$12.2b16.5x17.6x1.3x
Thu, 04 Jan 2024US$236.5bUS$161.6bUS$12.1b16x19.6x1.5x
Sat, 02 Dec 2023US$234.6bUS$160.7bUS$12.1b17.6x19.4x1.5x
Mon, 30 Oct 2023US$248.7bUS$159.5bUS$12.4b14.9x20x1.6x
Wed, 27 Sep 2023US$262.6bUS$155.2bUS$11.2b16.7x23.5x1.7x
Fri, 25 Aug 2023US$247.7bUS$155.2bUS$11.2b14.9x22.2x1.6x
Sun, 23 Jul 2023US$561.2bUS$151.3bUS$10.4b21.8x54.1x3.7x
Tue, 20 Jun 2023US$523.7bUS$147.6bUS$8.5b18.1x61.8x3.5x
Thu, 18 May 2023US$489.5bUS$148.0bUS$8.5b16.7x57.4x3.3x
Sat, 15 Apr 2023US$217.7bUS$138.3bUS$5.4b25.4x40.1x1.6x
Mon, 13 Mar 2023US$218.8bUS$138.6bUS$5.4b23x40.2x1.6x
Wed, 08 Feb 2023US$235.4bUS$134.9bUS$3.7b22.4x62.9x1.7x
Price to Earnings Ratio

62.9x


Total Market Cap: US$235.4bTotal Earnings: US$3.7bTotal Revenue: US$134.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Energy Services Industry Price to Earnings3Y Average 24.1x202420252026
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 34.5x which is higher than its 3-year average PE of 24.1x.
  • The industry is trading close to its 3-year average PS ratio of 1.6x.
Past Earnings Growth
  • The earnings for companies in the Energy Services industry have grown 28% per year over the last three years.
  • Revenues for these companies have grown 7.3% 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-0.23%
Energy3.44%
Energy Services1.56%
Oil and Gas Drilling4.03%
Oil and Gas Services1.30%
Industry PE
  • Investors are most optimistic about the Oil and Gas Services industry which is trading above its 3-year average PE ratio of 21.3x.
    • Analysts are expecting annual earnings growth of 12.4%, which is higher than its past year's earnings decline of 18.4% per year.
Forecasted Growth
  • Analysts are most optimistic on the Oil and Gas Drilling industry, expecting annual earnings growth of 55% over the next 5 years.
  • This is better than its past earnings decline of 59% per year.
  • In contrast, the Oil and Gas Services industry is expected to see its earnings grow by 12% 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
BKR Baker HughesUS$56.043.9%
+US$2.1b		21.4%PE21.4x
LBRT Liberty EnergyUS$24.6518.3%
+US$617.1m		34.6%PE27x
FTI TechnipFMCUS$55.722.7%
+US$590.6m		85.4%PE23.2x
AROC ArchrockUS$29.596.2%
+US$305.1m		5.3%PE19.8x
NE NobleUS$35.625.6%
+US$300.2m		11.1%PE25x

Latest News

PUMP
US$11.49
ProPetro Holding
7D
5.0%
1Y
29.4%
LBRT
US$24.65
Liberty Energy
7D
18.3%
1Y
34.6%
AROC
US$29.59
Archrock
7D
6.2%
1Y
5.3%
WFRD
US$94.08
Weatherford International
7D
4.6%
1Y
49.5%
AESI
US$11.67
Atlas Energy Solutions
7D
-2.1%
1Y
-49.2%
BKR
US$56.04
Baker Hughes
7D
3.9%
1Y
21.4%
NOV
US$18.35
NOV
7D
-0.2%
1Y
27.0%

NOV: Rising Oilfield Activity Will Drive A Bullish Re Rating

Analysts have lifted their price target on NOV to about US$21.81 from US$19.00, citing updated assumptions for revenue growth, profit margins, and a slightly higher future P/E multiple, supported by recent research updates across the Street. Analyst Commentary Recent Street research on NOV has skewed constructive, with several bullish analysts lifting their price targets and pointing to a more supportive setup for earnings and valuation across the oilfield services group.
HAL
US$33.52
Halliburton
7D
-1.3%
1Y
28.8%

HAL: Data Center Power And Venezuela Exposure Will Drive Bullish Repricing

Analysts have lifted their fair value estimate for Halliburton by about $5 to $43.78, citing higher assumed revenue growth, a richer future P/E multiple, and a slightly lower discount rate, partly reflecting the wave of recent price target increases across the Street. Analyst Commentary Recent Street research around Halliburton has been active, with a cluster of price target revisions and rating changes across oilfield services coverage.
SLB
US$48.38
SLB
7D
-1.6%
1Y
20.1%

SLB: Venezuela Euphoria And Weak Oil Prices Will Pressure Future Returns

Narrative Update Analysts have nudged their SLB price expectations higher, with our fair value estimate moving from US$38.00 to about US$40.07 as they factor in modestly stronger long term revenue growth, slightly higher profit margins, and a higher future P/E multiple supported by a recent wave of price target increases across the Street. Analyst Commentary Recent research on SLB shows a mix of optimism on long term fundamentals and caution on shorter term risks.
GEOS
US$15.46
Geospace Technologies
7D
-17.9%
1Y
70.1%
WBI
US$21.94
WaterBridge Infrastructure
7D
-5.1%
1Y
n/a
NE
US$35.62
Noble
7D
5.6%
1Y
11.1%

NE: Future Earnings Power And Completed Buybacks Will Drive Upside

Analysts have trimmed their price target on Noble by a small amount to $38.00. This reflects slightly lower assumptions for revenue growth and profit margins, partly offset by a higher future P/E multiple and a modest adjustment to the discount rate.
VAL
US$57.73
Valaris
7D
6.4%
1Y
20.4%

VAL: Long-Term Offshore Contract Will Support Stronger Outlook And Upside Potential

Analysts have modestly revised their price target on Valaris to reflect a fair value of $65.00. They point to slightly updated assumptions around the discount rate, revenue growth, profit margins, and future P/E as key drivers of the change.
NESR
US$19.68
National Energy Services Reunited
7D
-3.6%
1Y
108.3%

NESR: Middle East Fracturing Scale Will Support Long-Cycle Cash Flows

Analysts have lifted their price target on National Energy Services Reunited to $30 from $25, citing the company's hydraulic fracturing capacity in Saudi Arabia, its heavy revenue exposure to Middle East upstream spending, and updated assumptions around profit margins, discount rate, and future P/E as key drivers of the change. Analyst Commentary Bullish analysts are focusing on National Energy Services Reunited's exposure to Middle East upstream spending and its operational scale in hydraulic fracturing, and they are reflecting that view in higher price targets and fresh coverage.
FTI
US$55.72
TechnipFMC
7D
2.7%
1Y
85.4%

FTI: Future Cash Returns And Subsea Margins Will Support Measured Upside Potential

Analysts have lifted their blended price target on TechnipFMC from about US$47.10 to roughly US$49.17, citing updated sector models that bring earnings forecasts closer to or above consensus, stronger recent results, improved free cash flow conversion, and reaffirmed confidence in subsea margin guidance. Analyst Commentary Street research on TechnipFMC is generally skewed toward a constructive view, with several firms lifting their price targets and pointing to a mix of execution, earnings visibility, and cash generation.
INVX
US$24.85
Innovex International
7D
-1.4%
1Y
59.5%