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U.S. Energy Services Industry Analysis

UpdatedJun 05, 2026
DataAggregated Company Financials
Companies92
  • 7D3.5%
  • 3M15.8%
  • 1Y85.7%
  • YTD43.0%

Last week, the Energy Services industry hasn't moved much but SLB is up 5.2% in that time. The past year has been better, since the industry has gained 82% in that time. 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
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
Mon, 12 Jun 2023US$524.5bUS$148.1bUS$8.5b18.4x61.7x3.5x
Price to Earnings Ratio

61.7x


Total Market Cap: US$524.5bTotal 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 23.4x202420252026
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 36.8x 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 2.0x.
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-0.11%
Energy3.02%
Energy Services3.50%
Oil and Gas Services3.76%
Oil and Gas Drilling1.32%
Industry PE
  • Investors are most optimistic about the Oil and Gas Services industry which is trading above its 3-year average PE ratio of 20.3x.
    • Analysts are expecting annual earnings growth of 16.4%, 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 61% 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 16% 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$58.015.2%
+US$4.3b		75.4%PE26.1x
HAL HalliburtonUS$41.224.8%
+US$1.6b		106.6%PE22.4x
BKR Baker HughesUS$66.112.2%
+US$1.4b		78.0%PE21x
FTI TechnipFMCUS$69.011.9%
+US$522.3m		117.1%PE25.4x
SEI Solaris Energy InfrastructureUS$76.3111.1%
+US$445.6m		181.3%PE100.1x

Latest News

BKR
US$66.11
Baker Hughes
7D
2.2%
1Y
78.0%
SDRL
US$45.67
Seadrill
7D
-4.8%
1Y
86.4%
SEI
US$76.31
Solaris Energy Infrastructure
7D
11.1%
1Y
181.3%
TTI
US$9.93
TETRA Technologies
7D
-4.7%
1Y
243.6%
PTEN
US$12.27
Patterson-UTI Energy
7D
8.6%
1Y
120.3%
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$41.22
Halliburton
7D
4.8%
1Y
106.6%
NE
US$46.68
Noble
7D
-1.1%
1Y
76.5%
FTI
US$69.01
TechnipFMC
7D
1.9%
1Y
117.1%
ESOA
US$15.42
Energy Services of America
7D
-6.1%
1Y
39.8%
LBRT
US$31.56
Liberty Energy
7D
8.6%
1Y
164.8%
FLOC
US$23.53
Flowco Holdings
7D
-2.8%
1Y
40.3%
SLB
US$58.01
SLB
7D
5.2%
1Y
75.4%
TDW
US$74.28
Tidewater
7D
-0.6%
1Y
75.9%
Narrative Update • May 27

TDW: Strong 2025 Finish And 2026 Revenue Guidance Will Support Further Upside

Analysts have raised Tidewater's price target by $6, citing updated views on revenue growth, profit margins, and a revised future P/E assumption following recent research updates from major firms. Analyst Commentary Bullish analysts have pointed to recent research updates as support for a higher valuation framework, reflected in multiple price target revisions and a reaffirmed view that Tidewater is executing against current expectations.
NOV
US$21.45
NOV
7D
5.9%
1Y
74.7%
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.
KGS
US$68.11
Kodiak Gas Services
7D
-1.1%
1Y
86.9%
CLB
US$13.66
Core Laboratories
7D
-2.0%
1Y
24.5%
Narrative Update • May 23

CLB: Middle East Disruptions Will Shape Undervalued Shares And Future P/E

Analysts have kept their $22.00 price target for Core Laboratories unchanged, citing updated assumptions that include a slightly higher discount rate and revenue growth outlook, along with a marginally lower profit margin and P/E expectation. What's in the News Core Laboratories revised its first quarter 2026 guidance, now expecting revenue between US$119,000,000 and US$123,000,000, operating income ex-items of US$5,700,000 to US$7,100,000, and EPS ex-items of US$0.05 to US$0.07, citing impacts from geopolitical conflict in the Middle East, client project delays, travel limits, and supply chain disruptions (Key Developments).