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U.S. Energy Services Industry Analysis

UpdatedJun 22, 2026
DataAggregated Company Financials
Companies93
  • 7D-9.6%
  • 3M-3.5%
  • 1Y51.8%
  • YTD26.2%

Over the last 7 days, the Energy Services industry has dropped 9.6%, driven by a pullback from SLB of 14%. Meanwhile, Solaris Energy Infrastructure actually outperformed within the industry, gaining 12% in the last week. Over the past 12 months, the industry was up 52%. Looking forward, earnings are forecast to grow by 22% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 22 Jun 2026US$298.5bUS$170.2bUS$9.0b26.4x33x1.8x
Wed, 20 May 2026US$345.5bUS$169.1bUS$8.9b27.2x38.8x2x
Fri, 17 Apr 2026US$309.4bUS$167.9bUS$8.3b26.3x37.5x1.8x
Sun, 15 Mar 2026US$279.4bUS$167.3bUS$8.2b26.2x34.2x1.7x
Tue, 10 Feb 2026US$286.5bUS$167.2bUS$7.5b24.6x38x1.7x
Thu, 08 Jan 2026US$242.6bUS$166.4bUS$8.5b19.8x28.4x1.5x
Sat, 06 Dec 2025US$231.5bUS$166.4bUS$8.6b18.3x27x1.4x
Mon, 03 Nov 2025US$215.4bUS$165.5bUS$8.8b16.4x24.6x1.3x
Wed, 01 Oct 2025US$209.1bUS$166.2bUS$10.0b14.4x20.8x1.3x
Fri, 29 Aug 2025US$198.2bUS$166.2bUS$10.0b14.7x19.8x1.2x
Sun, 27 Jul 2025US$196.0bUS$164.7bUS$11.5b11.6x17.1x1.2x
Tue, 24 Jun 2025US$183.7bUS$171.1bUS$12.2b10.9x15.1x1.1x
Thu, 22 May 2025US$178.6bUS$171.3bUS$12.3b10.9x14.6x1x
Sat, 19 Apr 2025US$177.9bUS$170.6bUS$13.4b10.7x13.3x1x
Mon, 17 Mar 2025US$201.9bUS$170.7bUS$13.3b12.6x15.2x1.2x
Wed, 12 Feb 2025US$227.2bUS$170.5bUS$13.8b15.7x16.5x1.3x
Fri, 10 Jan 2025US$217.1bUS$169.8bUS$13.6b16x16x1.3x
Sun, 08 Dec 2024US$217.0bUS$168.9bUS$13.5b16.4x16.1x1.3x
Tue, 05 Nov 2024US$204.8bUS$168.0bUS$13.8b17x14.8x1.2x
Thu, 03 Oct 2024US$213.4bUS$165.8bUS$14.8b18.4x14.4x1.3x
Sat, 31 Aug 2024US$225.2bUS$166.7bUS$14.4b18.5x15.6x1.4x
Mon, 29 Jul 2024US$250.6bUS$167.7bUS$14.4b15.7x17.4x1.5x
Wed, 26 Jun 2024US$236.7bUS$164.6bUS$13.9b14x17x1.4x
Fri, 24 May 2024US$238.0bUS$164.6bUS$13.9b14.3x17.1x1.4x
Sun, 21 Apr 2024US$243.4bUS$163.0bUS$13.5b14.9x18x1.5x
Tue, 19 Mar 2024US$241.5bUS$160.7bUS$13.2b16.7x18.4x1.5x
Thu, 15 Feb 2024US$214.8bUS$159.3bUS$12.3b15x17.4x1.3x
Sat, 13 Jan 2024US$224.3bUS$161.6bUS$12.1b15.5x18.6x1.4x
Mon, 11 Dec 2023US$222.1bUS$160.7bUS$12.1b16.3x18.3x1.4x
Wed, 08 Nov 2023US$248.2bUS$159.4bUS$12.4b14.1x20x1.6x
Fri, 06 Oct 2023US$247.2bUS$156.6bUS$11.4b13.9x21.7x1.6x
Sun, 03 Sep 2023US$261.8bUS$155.2bUS$11.2b16.4x23.5x1.7x
Tue, 01 Aug 2023US$569.7bUS$153.1bUS$11.0b22x52x3.7x
Thu, 29 Jun 2023US$525.9bUS$147.7bUS$8.5b17.9x61.9x3.6x
Price to Earnings Ratio

61.9x


Total Market Cap: US$525.9bTotal Earnings: US$8.5bTotal Revenue: US$147.7bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Energy Services Industry Price to Earnings3Y Average 23x202420252026
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 33.0x which is higher than its 3-year average PE of 23.0x.
  • The 3-year average PS ratio of 1.5x is lower than the industry's current PS ratio of 1.8x.
Past Earnings Growth
  • The earnings for companies in the Energy Services industry have grown 2.1% 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 Market1.40%
Energy-6.04%
Energy Services-9.62%
Oil and Gas Services-9.36%
Oil and Gas Drilling-11.82%
Industry PE
  • Investors are most optimistic about the Oil and Gas Services industry which is trading above its 3-year average PE ratio of 19.8x.
    • Analysts are expecting annual earnings growth of 17.3%, 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
SEI Solaris Energy InfrastructureUS$82.8812.0%
+US$518.0m		187.8%PE108.7x
AROC ArchrockUS$36.971.0%
+US$63.1m		48.2%PE20.2x
WBI WaterBridge InfrastructureUS$33.192.3%
+US$35.3m		n/aPS2.5x
NINE Nine Energy ServiceUS$11.258.1%
+US$11.7m		n/aPE2.5x
KGS Kodiak Gas ServicesUS$69.180.1%
+US$9.9m		100.4%PE104.4x

Latest News

SEI
US$82.88
Solaris Energy Infrastructure
7D
12.0%
1Y
187.8%
AROC
US$36.97
Archrock
7D
1.0%
1Y
48.2%
Analysis Article • Jun 21

Archrock (AROC) Stock Could Be 12.7% Undervalued As Compression Demand Draws Focus

Archrock (AROC) is back on your radar after a 4.2% share price move to $36.97, amid rising attention around demand for its natural gas compression services and questions about current valuation. See our latest analysis for Archrock. Looking beyond today’s move, Archrock’s share price return is up 38.83% year to date, while its 1 year total shareholder return of 52.80% and very large 5 year total shareholder return suggest momentum has been strong as investors reassess growth potential and...
SLB
US$48.09
SLB
7D
-14.4%
1Y
34.2%
Analysis Article • Jun 20

SLB (SLB) Stock Could Be 21.7% Undervalued After Its Recent Pullback

SLB (SLB) is under investor scrutiny after recent share price softness, with the stock down about 4% over the past day, 14% over the past week, and 16% over the past month. See our latest analysis for SLB. Despite the recent pullback, with the 30 day share price return down 16% and the 7 day move also weaker, SLB still shows a 19.63% year to date share price return and a 37.84% total shareholder return over one year. This signals that momentum has cooled in the very short term but remains...
NOV
US$18.66
NOV
7D
-11.7%
1Y
38.0%
Seeking Alpha • Jun 20

NOV: Dim Earnings Expected To Change With Robust Backlog Execution In 2026 (Hold)

Summary NOV Inc. remains a hold, with shares up 20% since October 2024 and currently fairly valued. In the Q1 2026 financial report, revenue declined 2.43% YoY, while operating profit fell 69.08% YoY. Middle East logistics disruptions impacted Q1 results, but reopening of the Strait of Hormuz and robust offshore bookings support FY 2026 revenue growth. NOV's forward EV/Sales of 0.90 and 8.95% YoY upside suggest limited near-term appreciation; dividend yield stands at 2.41%. Read the full article on Seeking Alpha
ESOA
US$16.95
Energy Services of America
7D
1.5%
1Y
72.3%
FTI
US$65.17
TechnipFMC
7D
-7.9%
1Y
85.4%
Analysis Article • Jun 19

TechnipFMC (FTI) Stock Could Be 14.2% Undervalued As Subsea Backlog Supports The Story

TechnipFMC (FTI) has drawn attention after a period of mixed share performance, with the stock down about 12% over the past month and roughly flat over the past 3 months. See our latest analysis for TechnipFMC. Recent trading has been weaker for TechnipFMC, with the share price down 2.75% over the last day and 7.69% over the past week, extending a 30 day share price decline of 11.79%. This comes even as the year to date share price return stands at 37.75% and the 1 year total shareholder...
KGS
US$69.18
Kodiak Gas Services
7D
0.1%
1Y
100.4%
Analysis Article • Jun 19

Kodiak Gas Services (KGS) Stock Could Be 15.9% Undervalued After Revenue And Guidance Lift

Kodiak Gas Services (KGS) recently reported record contract services revenue along with higher full-year adjusted EBITDA guidance, an operational update that puts fresh attention on its natural gas compression business and power generation expansion. See our latest analysis for Kodiak Gas Services. Kodiak Gas Services’ latest update comes after a strong share price run, with an 83.79% year to date share price return and a 109.92% 1 year total shareholder return. However, the 1 month share...
NE
US$41.68
Noble
7D
-11.2%
1Y
45.2%
Narrative Update • Jun 18

NE: Refinancing And Stronger Offshore Drilling Demand Will Support Bullish Upside

Analysts have maintained their $59.00 price target on Noble, citing slightly adjusted assumptions for the discount rate, revenue growth, profit margin and future P/E that together support a steady valuation view. What’s in the News for Noble Barclays upgraded Noble Corporation plc to Overweight, citing expectations for stronger offshore drilling demand and referencing a forecast for 9% to 10% growth in upstream spending for 2027 and roughly double digit growth for 2028, along with new floater contracts and extensions that add to Noble’s contract coverage and backlog (source: Barclays upgrade report).
BKR
US$58.41
Baker Hughes
7D
-7.5%
1Y
49.8%
VAL
US$78.56
Valaris
7D
-12.7%
1Y
73.0%
RIG
US$5.31
Transocean
7D
-12.1%
1Y
82.5%
WBI
US$33.19
WaterBridge Infrastructure
7D
2.3%
1Y
n/a
HAL
US$34.93
Halliburton
7D
-11.8%
1Y
56.8%
Narrative Update • Jun 16

HAL: Future Returns Will Rely On Executing New Global Energy Projects

Halliburton's analyst price target has edged higher by $0.56 to $44.24, reflecting updated models that incorporate a slightly lower discount rate, modestly adjusted revenue growth and margin assumptions, and a future P/E estimate aligned with the series of recent target increases across the Street. Analyst Commentary Recent Street research on Halliburton has been active, with several firms adjusting price targets and, in one case, issuing an upgrade.
NINE
US$11.25
Nine Energy Service
7D
8.1%
1Y
n/a
New Narrative • Jun 10

Completions Focus And International Tools Exposure Will Support Long Term Business Resilience

Catalysts About Nine Energy Service Nine Energy Service provides completion focused services and tools to oil and gas operators across U.S. land and select international markets. What are the underlying business or industry changes driving this perspective?
LSE
US$4.01
Leishen Energy Holding
7D
1.6%
1Y
-33.7%
VNTG
US$0.85
Vantage
7D
13.9%
1Y
-77.8%