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

U.S. Energy Services Industry Analysis

UpdatedApr 11, 2026
DataAggregated Company Financials
Companies82
  • 7D3.0%
  • 3M25.3%
  • 1Y82.8%
  • YTD34.7%

The Energy Services industry is up 3.0% in the last week, with SLB up 5.0%. In the last 12 months, the industry was up 83%. Earnings are forecast to grow by 18% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 11 Apr 2026US$314.9bUS$167.9bUS$8.3b25.6x38.2x1.9x
Mon, 09 Mar 2026US$286.8bUS$167.3bUS$8.2b26.2x35x1.7x
Wed, 04 Feb 2026US$272.5bUS$166.9bUS$7.9b23.5x34.5x1.6x
Fri, 02 Jan 2026US$222.8bUS$166.4bUS$8.6b18.2x26x1.3x
Sun, 30 Nov 2025US$221.1bUS$166.4bUS$8.6b17.1x25.8x1.3x
Tue, 28 Oct 2025US$211.8bUS$165.3bUS$9.7b16.3x21.7x1.3x
Thu, 25 Sep 2025US$205.3bUS$166.2bUS$10.0b15.2x20.5x1.2x
Sat, 23 Aug 2025US$188.8bUS$166.2bUS$10.0b14.4x18.8x1.1x
Mon, 21 Jul 2025US$175.4bUS$166.2bUS$11.7b11.1x15x1.1x
Wed, 18 Jun 2025US$192.3bUS$171.1bUS$12.2b11.7x15.8x1.1x
Fri, 16 May 2025US$184.8bUS$171.4bUS$12.3b10.7x15x1.1x
Sun, 13 Apr 2025US$171.7bUS$171.0bUS$13.5b10.2x12.7x1x
Tue, 11 Mar 2025US$204.3bUS$171.3bUS$13.6b12.6x15.1x1.2x
Thu, 06 Feb 2025US$227.8bUS$171.0bUS$14.0b15.9x16.3x1.3x
Sat, 04 Jan 2025US$214.3bUS$169.8bUS$13.6b16x15.8x1.3x
Mon, 02 Dec 2024US$231.9bUS$168.9bUS$13.5b16.3x17.2x1.4x
Wed, 30 Oct 2024US$208.4bUS$167.7bUS$14.3b17.4x14.6x1.2x
Fri, 27 Sep 2024US$214.4bUS$165.8bUS$14.8b17.4x14.5x1.3x
Sun, 25 Aug 2024US$226.2bUS$166.7bUS$14.4b18.8x15.7x1.4x
Tue, 23 Jul 2024US$247.9bUS$165.6bUS$14.0b15.4x17.7x1.5x
Thu, 20 Jun 2024US$226.0bUS$164.6bUS$13.9b13.5x16.3x1.4x
Sat, 18 May 2024US$244.8bUS$164.5bUS$13.9b14.4x17.6x1.5x
Mon, 15 Apr 2024US$251.3bUS$162.2bUS$13.5b15.5x18.7x1.5x
Wed, 13 Mar 2024US$233.7bUS$161.0bUS$13.3b16.3x17.6x1.5x
Fri, 09 Feb 2024US$214.9bUS$159.2bUS$12.3b15.9x17.4x1.3x
Sun, 07 Jan 2024US$234.2bUS$161.6bUS$12.1b16x19.4x1.4x
Tue, 05 Dec 2023US$236.8bUS$160.7bUS$12.1b17.6x19.5x1.5x
Thu, 02 Nov 2023US$247.9bUS$160.1bUS$12.4b14.8x20x1.5x
Sat, 30 Sep 2023US$269.7bUS$155.2bUS$11.2b16.6x24.2x1.7x
Mon, 28 Aug 2023US$247.3bUS$155.2bUS$11.2b14.9x22.2x1.6x
Wed, 26 Jul 2023US$568.3bUS$151.3bUS$10.4b22.1x54.4x3.8x
Fri, 23 Jun 2023US$523.5bUS$147.7bUS$8.5b17.3x61.6x3.5x
Sun, 21 May 2023US$513.2bUS$148.1bUS$8.5b16.7x60.4x3.5x
Tue, 18 Apr 2023US$216.4bUS$138.3bUS$5.4b25x39.9x1.6x
Price to Earnings Ratio

39.9x


Total Market Cap: US$216.4bTotal Earnings: US$5.4bTotal Revenue: US$138.3bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Energy Services Industry Price to Earnings3Y Average 23.6x202420252026
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 38.2x which is higher than its 3-year average PE of 23.6x.
  • The 3-year average PS ratio of 1.6x is lower than the industry's current PS ratio of 1.9x.
Past Earnings Growth
  • The earnings for companies in the Energy Services industry have grown 15% per year over the last three years.
  • Revenues for these companies have grown 6.7% 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 Market3.31%
Energy-3.51%
Energy Services2.97%
Oil and Gas Services3.49%
Oil and Gas Drilling-0.95%
Industry PE
  • Investors are most optimistic about the Oil and Gas Services industry which is trading above its 3-year average PE ratio of 20.8x.
    • Analysts are expecting annual earnings growth of 14.6%, which is higher than its past year's earnings decline of 30.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Oil and Gas Drilling industry, expecting annual earnings growth of 46% 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 15% 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$51.925.0%
+US$3.7b		52.9%PE23.1x
BKR Baker HughesUS$62.834.1%
+US$2.4b		65.6%PE24.1x
FTI TechnipFMCUS$73.793.9%
+US$1.1b		194.8%PE30.6x
WFRD Weatherford InternationalUS$102.787.9%
+US$537.2m		139.0%PE17.1x
WHD CactusUS$54.3413.7%
+US$454.7m		49.9%PE22.7x

Latest News

RIG
US$6.52
Transocean
7D
-1.1%
1Y
188.5%

Transocean: Rising Day Rates And Cash Flows Mean I'm Getting On Board

Apr 10
NOV
US$19.49
NOV
7D
3.8%
1Y
64.6%
LBRT
US$27.63
Liberty Energy
7D
-1.7%
1Y
152.6%
RES
US$6.62
RPC
7D
-4.1%
1Y
36.8%

RES: Model Driven Assumptions Around Future P/E Will Constrain Shareholder Upside

Analysts lifted their price target on RPC by $1 to reflect updated views around a slightly adjusted discount rate, revenue growth, profit margin, and future P/E assumptions. This narrative update outlines what that means for you as a shareholder.
KGS
US$60.77
Kodiak Gas Services
7D
4.9%
1Y
86.8%
SEI
US$62.39
Solaris Energy Infrastructure
7D
11.8%
1Y
257.3%
GEOS
US$8.93
Geospace Technologies
7D
-28.8%
1Y
42.9%
HAL
US$37.59
Halliburton
7D
-1.5%
1Y
78.4%

HAL: Venezuela Reentry And Automated Drilling Advances Will Drive Bullish Repricing

Halliburton's updated analyst price target of $46.03, up from $43.78, reflects analysts' use of slightly lower discount rates, moderately higher revenue growth and profit margin assumptions, and a recalibrated future P/E, alongside a recent wave of upward target revisions across the Street. Analyst Commentary Recent research has featured a cluster of upward price target revisions on Halliburton, with bullish analysts adjusting their models around updated sector views, valuation assumptions, and expectations for execution.
WFRD
US$102.78
Weatherford International
7D
7.9%
1Y
139.0%

WFRD: Structural Offshore And Venezuela Activity Will Support Future Earnings Repricing

Analysts have lifted their price targets on Weatherford International by increments such as $11, $17, $10 and other recent upward revisions, citing structural customer activity, capacity needs and sector EBITDA expectations as key supports for the updated view. Analyst Commentary Recent research commentary around Weatherford International has leaned constructive, with several price target revisions reflecting confidence in the company’s ability to execute against structural customer activity and capacity needs.
PTEN
US$10.05
Patterson-UTI Energy
7D
-5.3%
1Y
74.5%

PTEN: Structural Drilling Needs And Geopolitical Dislocations Will Shape Future Cash Flows

Analysts have nudged the average price target on Patterson-UTI Energy higher, with recent increases such as Goldman's move to $9 from $7 and BofA's lift to $7.50 from $7. This reflects views that structural drilling activity and production needs remain intact despite geopolitical risks.
SLB
US$51.92
SLB
7D
5.0%
1Y
52.9%

SLB: Venezuela Upside And Production Repositioning Will Shape Future Risk Profile

Analysts have modestly lifted the SLB fair value estimate to $55.43 from $55.05, reflecting incremental tweaks to the discount rate, revenue growth, profit margin, and future P/E assumptions, alongside a series of higher Street price targets across the sector. Analyst Commentary Recent research shows a cluster of higher price targets for SLB, tempered by a small group of more cautious voices.
AESI
US$11.37
Atlas Energy Solutions
7D
-6.4%
1Y
-17.5%

Atlas Energy Solutions: The Shift To Power Production Is In Top Gear (Rating Upgrade)

Apr 03
NE
US$48.93
Noble
7D
-1.9%
1Y
145.8%

NE: Future Backlog And Contracts Will Mask Overvaluation Risk

Analysts have lifted their price target for Noble to $42.20 from $40.90. This reflects modest adjustments to fair value, discount rate, revenue growth, profit margin, and future P/E assumptions.
WHD
US$54.34
Cactus
7D
13.7%
1Y
49.9%
BKR
US$62.83
Baker Hughes
7D
4.1%
1Y
65.6%
FTI
US$73.79
TechnipFMC
7D
3.9%
1Y
194.8%

FTI: Record Subsea Opportunity And 2026 Outlook Will Support Future Upside

TechnipFMC's analyst fair value estimate has moved from $45.00 to $82.00 as analysts factor in updated 2026 outlooks, higher assumed profit margins, a richer future P/E profile, and a record $29b subsea opportunity set reflected in a series of recent price target increases across the Street. Analyst Commentary Recent research shows a cluster of higher price targets on TechnipFMC anchored to updated 2026 outlooks, margin expectations, and a larger identified subsea opportunity set.