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U.S. Energy Services Industry Analysis

UpdatedMay 21, 2026
DataAggregated Company Financials
Companies91
  • 7D2.9%
  • 3M13.8%
  • 1Y96.9%
  • YTD47.5%

The Energy Services industry is up 2.9% in the last week, with SLB up 3.4%. Meanwhile, Solaris Energy Infrastructure actually underperformed within the industry, shrinking 7.4% in the last week. In the last 12 months, the industry was up 97%. 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
Thu, 21 May 2026US$343.2bUS$169.1bUS$8.9b27.5x38.6x2x
Sat, 18 Apr 2026US$311.2bUS$167.9bUS$8.3b28.8x37.7x1.9x
Mon, 16 Mar 2026US$279.4bUS$167.3bUS$8.2b26.2x34.2x1.7x
Wed, 11 Feb 2026US$289.8bUS$167.2bUS$7.5b24.7x38.4x1.7x
Fri, 09 Jan 2026US$238.8bUS$166.4bUS$8.5b20.6x27.9x1.4x
Sun, 07 Dec 2025US$230.7bUS$166.4bUS$8.6b18.3x26.9x1.4x
Tue, 04 Nov 2025US$215.5bUS$165.5bUS$8.8b16.9x24.6x1.3x
Thu, 02 Oct 2025US$204.8bUS$166.1bUS$10.0b15.1x20.4x1.2x
Sat, 30 Aug 2025US$200.6bUS$166.2bUS$10.0b14.7x20x1.2x
Mon, 28 Jul 2025US$196.0bUS$164.7bUS$11.5b11.6x17.1x1.2x
Wed, 25 Jun 2025US$181.8bUS$171.1bUS$12.2b10.9x14.9x1.1x
Fri, 23 May 2025US$174.1bUS$171.3bUS$12.2b10.7x14.2x1x
Sun, 20 Apr 2025US$177.9bUS$170.6bUS$13.4b10.7x13.3x1x
Tue, 18 Mar 2025US$203.5bUS$170.7bUS$13.3b12.8x15.3x1.2x
Thu, 13 Feb 2025US$228.2bUS$170.5bUS$13.8b15.4x16.6x1.3x
Sat, 11 Jan 2025US$217.1bUS$169.8bUS$13.6b15.9x16x1.3x
Mon, 09 Dec 2024US$217.0bUS$168.9bUS$13.5b16.4x16.1x1.3x
Wed, 06 Nov 2024US$208.2bUS$168.1bUS$13.6b17.4x15.3x1.2x
Fri, 04 Oct 2024US$220.2bUS$165.8bUS$14.8b18.9x14.9x1.3x
Sun, 01 Sep 2024US$224.6bUS$166.7bUS$14.4b18.5x15.6x1.3x
Tue, 30 Jul 2024US$250.6bUS$167.7bUS$14.4b15.4x17.4x1.5x
Thu, 27 Jun 2024US$237.3bUS$164.6bUS$13.9b14x17.1x1.4x
Sat, 25 May 2024US$236.2bUS$164.6bUS$13.9b14.5x17x1.4x
Mon, 22 Apr 2024US$243.4bUS$163.0bUS$13.5b14.9x18x1.5x
Wed, 20 Mar 2024US$246.8bUS$160.7bUS$13.1b17.1x18.8x1.5x
Fri, 16 Feb 2024US$215.4bUS$159.3bUS$12.3b15.8x17.5x1.4x
Sun, 14 Jan 2024US$224.3bUS$161.6bUS$12.1b15.5x18.6x1.4x
Tue, 12 Dec 2023US$223.3bUS$160.7bUS$12.1b16.4x18.4x1.4x
Thu, 09 Nov 2023US$236.7bUS$159.4bUS$12.2b14.6x19.4x1.5x
Sat, 07 Oct 2023US$249.7bUS$156.6bUS$11.4b13.9x21.9x1.6x
Mon, 04 Sep 2023US$261.9bUS$155.2bUS$11.2b16.4x23.5x1.7x
Wed, 02 Aug 2023US$568.7bUS$153.1bUS$10.9b21.8x52.4x3.7x
Fri, 30 Jun 2023US$529.9bUS$147.7bUS$8.5b17.9x62.3x3.6x
Sun, 28 May 2023US$512.0bUS$148.1bUS$8.5b17.5x60.2x3.5x
Price to Earnings Ratio

60.2x


Total Market Cap: US$512.0bTotal 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 23.7x202420252026
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 38.6x which is higher than its 3-year average PE of 23.7x.
  • 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 remained mostly flat over the last three years.
  • Meanwhile revenues for these companies have grown 4.5% 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-0.32%
Energy3.04%
Energy Services2.85%
Oil and Gas Drilling7.17%
Oil and Gas Services2.30%
Industry PE
  • Investors are most optimistic about the Oil and Gas Services industry which is trading above its 3-year average PE ratio of 20.7x.
    • Analysts are expecting annual earnings growth of 16.2%, which is higher than its past year's earnings decline of 26.6% 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 0.08% 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$57.252.7%
+US$2.2b		69.6%PE25.7x
BKR Baker HughesUS$65.801.8%
+US$1.2b		79.8%PE20.9x
HAL HalliburtonUS$41.961.6%
+US$559.7m		110.2%PE22.8x
WHD CactusUS$62.107.4%
+US$296.4m		49.9%PE58.9x
INVX Innovex InternationalUS$30.8211.6%
+US$220.7m		118.9%PE40.9x

Latest News

KGS
US$72.39
Kodiak Gas Services
7D
-2.5%
1Y
110.8%
Seeking Alpha • 11h

Why Kodiak Gas Could Become An AI Power Winner

Summary I am rating Kodiak Gas Services (KGS) a Strong Buy because I believe the company is evolving from a high-quality compression business into a mission-critical power infrastructure platform for data-centers. My 2028 adjusted EBITDA estimate is $1.2Bn, built from compression, DPS power platform, and new power capacity additions. My price target is $130, representing 78% upside potential from current $73 price. I arrive at my PT by using 12.21x FWD EV/EBITDA multiple and $1.2Bn adjusted EBITDA. The biggest risks are execution in the power infrastructure segment, capital intensity and leverage. Still, I believe these risks are manageable. Read the full article on Seeking Alpha
AESI
US$19.47
Atlas Energy Solutions
7D
2.6%
1Y
55.1%
WHD
US$62.10
Cactus
7D
7.4%
1Y
49.9%
SLB
US$57.25
SLB
7D
2.7%
1Y
69.6%
VAL
US$101.48
Valaris
7D
-1.7%
1Y
181.4%
RIG
US$6.82
Transocean
7D
-1.3%
1Y
183.0%
BKR
US$65.80
Baker Hughes
7D
1.8%
1Y
79.8%
New Narrative • May 17

Future LNG And Data Center Dependence Will Pressure Margins And Earnings

Catalysts About Baker Hughes Baker Hughes is an energy technology company that provides equipment, services and digital solutions across the oil, gas and broader energy infrastructure value chain. What are the underlying business or industry changes driving this perspective?
BORR
US$5.64
Borr Drilling
7D
-10.5%
1Y
248.1%
HAL
US$41.96
Halliburton
7D
1.6%
1Y
110.2%
LBRT
US$32.88
Liberty Energy
7D
-1.4%
1Y
183.2%
INVX
US$30.82
Innovex International
7D
11.6%
1Y
118.9%
FTI
US$71.41
TechnipFMC
7D
-2.2%
1Y
141.6%
WTTR
US$19.64
Select Water Solutions
7D
5.6%
1Y
143.4%
TTI
US$10.31
TETRA Technologies
7D
-4.2%
1Y
279.0%
Narrative Update • May 15

TTI: Future Upside Will Be Driven By 2026 Earnings And Desalination

Analysts have slightly lowered their price target on TETRA Technologies from $12.75 to $12.50. This adjustment reflects updated assumptions around the discount rate, revenue growth, profit margin and future P/E that modestly change the assessed risk and return balance for the stock.
SEI
US$73.43
Solaris Energy Infrastructure
7D
-6.2%
1Y
188.8%
NOV
US$20.86
NOV
7D
1.2%
1Y
71.4%
Narrative Update • May 05

NOV: Future Returns Will Lag Structural Project Commitments Despite Recent Supportive Actions

The analyst price target for NOV has been raised by $1 to $17, as analysts cite revised assumptions regarding fair value, discount rate, revenue growth, profit margin, and future P/E following a series of recent price target increases across the Street. Analyst Commentary Recent research on NOV points to a cluster of higher price targets, including moves from several firms that adjusted their views around fair value, discount rates, revenue assumptions, margin expectations, and future P/E.