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U.S. Energy Services Industry Analysis

UpdatedJan 22, 2026
DataAggregated Company Financials
Companies88
  • 7D4.3%
  • 3M22.4%
  • 1Y15.6%
  • YTD15.0%

The Energy Services industry is up 4.3% in the last week, with Baker Hughes up 7.2%. This takes the industry's 12 month performance to a gain of 16%. Earnings are forecast to grow by 16% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 23 Jan 2026US$254.9bUS$166.3bUS$8.5b22.2x29.9x1.5x
Sun, 21 Dec 2025US$219.0bUS$166.4bUS$8.6b18x25.6x1.3x
Tue, 18 Nov 2025US$217.4bUS$165.4bUS$8.7b16.3x24.9x1.3x
Thu, 16 Oct 2025US$193.7bUS$166.1bUS$10.0b14.3x19.3x1.2x
Sat, 13 Sep 2025US$203.1bUS$166.2bUS$10.0b15.1x20.2x1.2x
Mon, 11 Aug 2025US$186.0bUS$166.1bUS$10.0b12.2x18.5x1.1x
Wed, 09 Jul 2025US$186.7bUS$170.2bUS$12.1b11.9x15.4x1.1x
Fri, 06 Jun 2025US$177.9bUS$171.1bUS$12.2b11x14.6x1x
Sun, 04 May 2025US$177.8bUS$170.2bUS$12.4b10.9x14.3x1x
Tue, 01 Apr 2025US$208.8bUS$170.7bUS$13.4b13x15.5x1.2x
Thu, 27 Feb 2025US$213.2bUS$171.3bUS$13.3b13.8x16.1x1.2x
Sat, 25 Jan 2025US$231.2bUS$170.3bUS$13.7b15.4x16.9x1.4x
Mon, 23 Dec 2024US$201.8bUS$168.9bUS$13.5b14.7x14.9x1.2x
Wed, 20 Nov 2024US$225.1bUS$168.9bUS$13.5b16.6x16.6x1.3x
Fri, 18 Oct 2024US$217.5bUS$165.7bUS$14.7b18.2x14.8x1.3x
Sun, 15 Sep 2024US$204.1bUS$165.8bUS$14.8b17x13.8x1.2x
Tue, 13 Aug 2024US$223.0bUS$166.6bUS$14.4b17.5x15.5x1.3x
Thu, 11 Jul 2024US$229.8bUS$164.6bUS$13.9b14.3x16.5x1.4x
Sat, 08 Jun 2024US$225.3bUS$164.6bUS$13.9b14.2x16.2x1.4x
Mon, 06 May 2024US$237.7bUS$165.5bUS$13.9b13.6x17.2x1.4x
Wed, 03 Apr 2024US$255.7bUS$162.2bUS$13.5b16.1x19x1.6x
Fri, 01 Mar 2024US$220.9bUS$160.9bUS$13.3b15.4x16.7x1.4x
Sun, 28 Jan 2024US$235.2bUS$163.6bUS$12.3b16.2x19.1x1.4x
Tue, 26 Dec 2023US$238.6bUS$160.7bUS$12.1b16.1x19.7x1.5x
Thu, 23 Nov 2023US$237.7bUS$160.7bUS$12.1b17.8x19.6x1.5x
Sat, 21 Oct 2023US$258.8bUS$156.7bUS$11.5b15.4x22.6x1.7x
Mon, 18 Sep 2023US$268.8bUS$155.2bUS$11.2b17.9x24.1x1.7x
Wed, 16 Aug 2023US$620.8bUS$155.2bUS$11.2b15.2x55.6x4x
Fri, 14 Jul 2023US$561.7bUS$147.7bUS$8.5b21.3x66x3.8x
Sun, 11 Jun 2023US$524.5bUS$148.1bUS$8.5b18.4x61.7x3.5x
Tue, 09 May 2023US$198.6bUS$147.1bUS$8.3b16.9x23.8x1.4x
Thu, 06 Apr 2023US$212.7bUS$138.3bUS$5.4b25.3x39.2x1.5x
Sat, 04 Mar 2023US$242.0bUS$138.2bUS$5.2b28.1x46.1x1.8x
Mon, 30 Jan 2023US$240.1bUS$133.9bUS$3.4b23.5x70.1x1.8x
Price to Earnings Ratio

70.1x


Total Market Cap: US$240.1bTotal Earnings: US$3.4bTotal Revenue: US$133.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Energy Services Industry Price to Earnings3Y Average 24.4x202420252026
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 29.9x which is higher than its 3-year average PE of 24.4x.
  • 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 35% per year over the last three years.
  • Revenues for these companies have grown 7.5% 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-0.93%
Energy1.69%
Energy Services4.27%
Oil and Gas Services4.35%
Oil and Gas Drilling3.47%
Industry PE
  • Investors are most optimistic about the Oil and Gas Services industry, which is trading close to its 3-year average PE ratio of 21.5x.
    • Analysts are expecting annual earnings growth of 12.3%, which is higher than its past year's earnings decline of 17.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Oil and Gas Drilling industry, expecting annual earnings growth of 54% 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$53.597.2%
+US$3.6b		17.0%PE18.3x
SLB SLBUS$48.523.3%
+US$2.3b		16.6%PE19.9x
FTI TechnipFMCUS$54.213.8%
+US$796.9m		70.0%PE22.5x
AROC ArchrockUS$27.897.5%
+US$342.0m		-6.3%PE18.7x
KGS Kodiak Gas ServicesUS$39.719.8%
+US$302.5m		-18.7%PE45.5x

Latest News

WFRD
US$89.12
Weatherford International
7D
6.0%
1Y
26.8%
HAL
US$33.72
Halliburton
7D
2.9%
1Y
20.6%
VAL
US$54.34
Valaris
7D
-0.7%
1Y
11.8%

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.
AROC
US$27.91
Archrock
7D
6.6%
1Y
-5.7%

AROC: Expanded Buybacks Will Drive Upside As 2025 Earnings Guidance Rises

Analysts have lifted their price target on Archrock to US$31.56 per share, reflecting updated assumptions around discount rates, revenue growth, profit margins, and future P/E levels. What's in the News Archrock raised full year 2025 earnings guidance, with net income now expected in a range of US$265,200,000 to US$280,200,000 (Key Developments).
XPRO
US$16.09
Expro Group Holdings
7D
-0.9%
1Y
15.1%

XPRO: Solid Q3 Execution And Buybacks Will Support Future Share Upside

Analysts have lifted their price target on Expro Group Holdings from $16.00 to $19.00, citing updated assumptions on fair value, discount rate, revenue growth, profit margin and future P/E. They also referenced recent Street research that noted a solid Q3 performance, even as preliminary fiscal 2026 guidance was described as somewhat muted.
FTI
US$53.97
TechnipFMC
7D
3.2%
1Y
70.1%

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.
MIND
US$9.53
MIND Technology
7D
-13.4%
1Y
10.9%
BKR
US$54.46
Baker Hughes
7D
4.7%
1Y
19.3%

BKR: IET Resilience And Potential Breakup Will Shape Next Cycle Outlook

Analysts have made only a small adjustment to their Baker Hughes price targets, with a blended fair value estimate now effectively unchanged at about US$53. This reflects mixed views, as some firms trimmed targets on more cautious oilfield spending expectations, while others nudged them higher on resilient U.S. activity and the ongoing strength of the Industrial & Energy Technology business.
SLB
US$49.32
SLB
7D
5.9%
1Y
17.3%

SLB: Macro Headwinds And Weaker Oil Prices Will Pressure Future Performance

Analysts have nudged their fair value estimate for SLB up to $38 from $36, citing a modestly lower discount rate, higher assumed revenue growth, and a richer future P/E multiple. These changes are informed by recent price target moves that balance optimism on activity and digital tailwinds with caution around macro and valuation risks.
RIG
US$4.70
Transocean
7D
8.3%
1Y
21.8%

RIG: Offshore Contract Wins Will Likely Struggle Against Prolonged Weak Crude Prices

Narrative Update Analysts have lifted their price targets on Transocean to a range of about $4.25 to $5.00, citing steady U.S. drilling and completions activity and increased optimism around new offshore contract signings, despite crude price headwinds that could still affect dayrate momentum. Analyst Commentary Recent research points to a cautiously constructive stance on Transocean, with price targets generally clustered in the mid single digit range.
OMSE
US$4.73
OMS Energy Technologies
7D
-5.8%
1Y
n/a

OMS Energies: Unknown Hidden Gem For Deep Value Investors In The Oil Sector

Jan 07
RCON
US$1.39
Recon Technology
7D
-2.1%
1Y
-43.3%
GEOS
US$20.78
Geospace Technologies
7D
-9.5%
1Y
115.8%

Why Investors Shouldn't Be Surprised By Geospace Technologies Corporation's (NASDAQ:GEOS) 55% Share Price Surge

Dec 27
Why Investors Shouldn't Be Surprised By Geospace Technologies Corporation's (NASDAQ:GEOS) 55% Share Price Surge
NINE
US$0.46
Nine Energy Service
7D
-8.7%
1Y
-71.2%
SMHI
US$6.24
SEACOR Marine Holdings
7D
-0.8%
1Y
-8.1%

Health Check: How Prudently Does SEACOR Marine Holdings (NYSE:SMHI) Use Debt?

Dec 22
Health Check: How Prudently Does SEACOR Marine Holdings (NYSE:SMHI) Use Debt?
KGS
US$39.91
Kodiak Gas Services
7D
8.5%
1Y
-18.2%