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

U.S. Energy Services Industry Analysis

UpdatedJul 05, 2026
DataAggregated Company Financials
Companies92
  • 7D-4.3%
  • 3M-9.0%
  • 1Y43.9%
  • YTD19.1%

Over the last 7 days, the Energy Services industry has dropped 4.3%, driven by a pullback from Baker Hughes of 6.7%. Over the past 12 months, the industry was up 44%. As for the next few years, earnings are expected to grow by 21% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 06 Jul 2026US$281.7bUS$170.1bUS$9.0b25.8x31.4x1.7x
Wed, 03 Jun 2026US$324.2bUS$170.2bUS$9.0b26.8x35.9x1.9x
Fri, 01 May 2026US$340.9bUS$168.1bUS$8.9b28.2x38.3x2x
Sun, 29 Mar 2026US$317.2bUS$167.1bUS$8.2b29.5x38.7x1.9x
Tue, 24 Feb 2026US$299.5bUS$167.2bUS$8.2b26.8x36.3x1.8x
Thu, 22 Jan 2026US$254.9bUS$166.3bUS$8.5b22.2x29.9x1.5x
Sat, 20 Dec 2025US$217.1bUS$166.4bUS$8.6b18x25.4x1.3x
Mon, 17 Nov 2025US$217.4bUS$165.4bUS$8.7b16.6x24.9x1.3x
Wed, 15 Oct 2025US$194.0bUS$166.1bUS$10.0b14.2x19.3x1.2x
Fri, 12 Sep 2025US$203.1bUS$166.2bUS$10.0b15.4x20.2x1.2x
Sun, 10 Aug 2025US$186.0bUS$166.1bUS$10.0b12.2x18.5x1.1x
Tue, 08 Jul 2025US$190.0bUS$170.2bUS$12.1b11.2x15.7x1.1x
Thu, 05 Jun 2025US$180.9bUS$171.1bUS$12.2b10.9x14.8x1.1x
Sat, 03 May 2025US$173.0bUS$170.2bUS$12.4b10.9x13.9x1x
Mon, 31 Mar 2025US$208.8bUS$170.7bUS$13.4b12.9x15.5x1.2x
Wed, 26 Feb 2025US$216.7bUS$171.2bUS$13.1b14.5x16.5x1.3x
Fri, 24 Jan 2025US$231.2bUS$170.3bUS$13.7b15.6x16.9x1.4x
Sun, 22 Dec 2024US$201.8bUS$168.9bUS$13.5b14.7x14.9x1.2x
Tue, 19 Nov 2024US$222.4bUS$168.9bUS$13.5b16.5x16.4x1.3x
Thu, 17 Oct 2024US$216.8bUS$165.8bUS$14.8b18.4x14.7x1.3x
Sat, 14 Sep 2024US$203.4bUS$165.8bUS$14.8b17x13.7x1.2x
Mon, 12 Aug 2024US$223.0bUS$166.6bUS$14.4b17.5x15.5x1.3x
Wed, 10 Jul 2024US$233.8bUS$164.6bUS$13.9b13.4x16.8x1.4x
Fri, 07 Jun 2024US$224.4bUS$164.6bUS$13.9b14x16.1x1.4x
Sun, 05 May 2024US$237.7bUS$165.5bUS$13.9b13.6x17.2x1.4x
Tue, 02 Apr 2024US$250.7bUS$160.7bUS$13.2b17.2x19x1.6x
Thu, 29 Feb 2024US$222.8bUS$160.8bUS$13.4b15.7x16.7x1.4x
Sat, 27 Jan 2024US$233.2bUS$163.6bUS$12.3b16.2x19x1.4x
Mon, 25 Dec 2023US$238.6bUS$160.7bUS$12.1b16.1x19.7x1.5x
Wed, 22 Nov 2023US$237.8bUS$160.7bUS$12.1b17.9x19.6x1.5x
Fri, 20 Oct 2023US$265.0bUS$156.1bUS$11.3b15.8x23.5x1.7x
Sun, 17 Sep 2023US$268.8bUS$155.2bUS$11.2b17.9x24.1x1.7x
Tue, 15 Aug 2023US$624.8bUS$155.2bUS$11.2b14.7x56x4x
Thu, 13 Jul 2023US$559.9bUS$147.7bUS$8.5b21.2x65.8x3.8x
Price to Earnings Ratio

65.8x


Total Market Cap: US$559.9bTotal 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 22.6x202420252026
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 31.4x which is higher than its 3-year average PE of 22.7x.
  • The industry is trading close to its 3-year average PS ratio of 1.5x.
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 4.8% 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 Market1.63%
Energy-0.85%
Energy Services-4.26%
Oil and Gas Drilling-2.61%
Oil and Gas Services-4.44%
Industry PE
  • Investors are most optimistic about the Oil and Gas Services industry which is trading above its 3-year average PE ratio of 19.4x.
    • Analysts are expecting annual earnings growth of 16.7%, 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 58% over the next 5 years.
  • This is better than its past earnings decline of 35% 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
FTI TechnipFMCUS$66.753.6%
+US$921.0m		91.3%PE24.6x
SDRL SeadrillUS$39.872.1%
+US$51.9m		37.0%PS1.8x
BORR Borr DrillingUS$4.493.0%
+US$40.0m		112.8%PE42x
TDW TidewaterUS$68.121.2%
+US$39.8m		41.6%PE11.4x
CLB Core LaboratoriesUS$11.464.0%
+US$20.3m		-10.4%PE18.2x

Latest News

SLB
US$45.13
SLB
7D
-4.0%
1Y
26.6%
Narrative Update • Jul 02

SLB: Digital And AI Expansion Will Offset Middle East Headwinds

Analysts have lifted the fair value estimate for SLB to $71.00, while moderating profit margin expectations and pointing to ongoing Middle East headwinds as the main reason recent price targets around $60 to $66 have been reset closer to updated earnings models. Analyst Commentary Recent Street commentary on SLB highlights a split picture, with several firms trimming price targets to reflect Middle East pressures while others see enough execution strength and portfolio depth to support higher fair values.
PTEN
US$8.66
Patterson-UTI Energy
7D
-9.7%
1Y
37.2%
Narrative Update • Jul 02

PTEN: LNG Driven Gas Demand Will Support Future Activity And Cash Returns

For Patterson-UTI Energy, the analyst price target framework has shifted higher to about $13.21 from roughly $8.84. Analysts point to updated models that reflect stronger revenue growth assumptions, firmer profit margins, and a lower forward P/E multiple informed by recent revisions to EBITDA estimates and commentary across the land driller peer group.
CLB
US$11.46
Core Laboratories
7D
4.0%
1Y
-10.4%
SEI
US$67.19
Solaris Energy Infrastructure
7D
-12.5%
1Y
105.7%
BKR
US$52.78
Baker Hughes
7D
-6.7%
1Y
33.1%
Seeking Alpha • Jun 30

Baker Hughes Weighed Down By Dashed Oil Boom Hopes

Summary Baker Hughes remains a "Sell," as muted oilfield services offset booming IET growth. IET segment drives double-digit growth, fueled by U.S. LNG exports and AI data center demand. Oilfield services face persistent headwinds from weak oil prices and reduced Chinese demand. Fair value is capped at $50, with 2024 EPS now targeted at $2.30–$2.40 and a 24x multiple seen as expensive. Read the full article on Seeking Alpha
SDRL
US$39.87
Seadrill
7D
2.1%
1Y
37.0%
Narrative Update • Jun 30

SDRL: Extended Buybacks And Raised Guidance Will Support Future Upside Potential

Analysts have lifted their Seadrill price target from about $51.71 to roughly $56.43 as they factor in updated assumptions for revenue growth, profit margins, discount rates, and future P/E levels. What's in the News Seadrill extended its existing share repurchase program through December 31, 2026, with about US$208 million remaining under the original US$500 million authorization, giving the company continued flexibility on timing and method of buybacks.
HAL
US$32.96
Halliburton
7D
-3.7%
1Y
53.2%
Narrative Update • Jun 30

HAL: International Contracts And Oil Price Headwinds Will Shape Returns

Halliburton's analyst price target has shifted higher to $32.99 from $28.17, with analysts pointing to refreshed sector models and updated views on revenue growth, profit margins, and future P/E assumptions as key drivers of the change. Analyst Commentary Recent Street research on Halliburton reflects a mix of optimism and caution, with several firms revisiting their models and reassessing the risk and reward profile for the stock.
LBRT
US$23.79
Liberty Energy
7D
-11.4%
1Y
96.9%
Narrative Update • Jun 30

LBRT: Power Deployment And Frac Capacity Are Expected To Drive Future Upside

The analyst fair value estimate for Liberty Energy has been raised from $34.00 to $40.00, reflecting higher Street price targets that are supported by expectations for stronger EBITDA in later years and ongoing demand for the company’s power deployment and frac capacity. Analyst Commentary Recent Street research on Liberty Energy points to a cluster of higher fair value views, with several bullish analysts revising price targets upward and highlighting the company’s execution in power deployment and frac capacity.
FTI
US$66.75
TechnipFMC
7D
3.6%
1Y
91.3%
Seeking Alpha • Jun 29

TechnipFMC: Pricey And Not With The Best Outlook

Summary TechnipFMC plc remains a Hold as offshore oil and gas CapEx discipline and oversupply limit near-term project announcements. FTI's Subsea segment pipeline grew 13.2% YoY to $30B, but revenue recognition lags, constraining top-line acceleration. FTI shares trade at a 50%–60% premium to sector medians, with current growth rates insufficient to justify elevated valuation. Industry headwinds—falling drillship dayrates, declining CapEx, and flat subsea well counts—temper bullish outlook despite FTI backlog visibility. Read the full article on Seeking Alpha
TDW
US$68.12
Tidewater
7D
1.2%
1Y
41.6%
AROC
US$36.79
Archrock
7D
-12.3%
1Y
48.9%
DWSN
US$5.89
Dawson Geophysical
7D
10.5%
1Y
320.7%
BORR
US$4.49
Borr Drilling
7D
3.0%
1Y
112.8%
KGS
US$67.94
Kodiak Gas Services
7D
-10.9%
1Y
100.9%
Narrative Update • Jun 25

KGS: Longer Term Contracts And Data Center Power Buildout Will Drive Upside

Analysts have nudged their average price target for Kodiak Gas Services higher, with updated fair value estimates moving from about $82.21 to $84.07. They attribute this change to stronger revenue growth assumptions, slightly lower discount rates, and expectations for higher future P/E multiples supported by research pointing to compression demand, long-term contracts, and expansion into behind-the-meter power and data center infrastructure.
WFRD
US$83.01
Weatherford International
7D
0.3%
1Y
53.3%
Narrative Update • Jun 24

WFRD: International Offshore Awards And Governance Shifts Will Shape Balanced Future Returns

Analysts have nudged the Weatherford International fair value estimate slightly higher to $90.64, reflecting updated assumptions for revenue growth, margins, and a lower discount rate in light of recent price target increases across the Street tied to expanding opportunities in the Middle East, offshore, and Latin America. Analyst Commentary Recent Street research on Weatherford International highlights a mix of optimism around growth opportunities in the Middle East, offshore and Latin America, alongside a more measured tone from some bearish analysts who are focused on execution, timing and valuation risks.
XPRO
US$14.38
Expro Group Holdings
7D
0.7%
1Y
59.6%
Narrative Update • Jun 23

XPRO: Middle East Activity And Subsea Contracts Will Drive Future Repricing

Expro Group Holdings' updated analyst price target has moved from $21 to $23, with analysts pointing to improved expectations for revenue growth, profit margins, and earnings valuation, supported by recent rating upgrades and higher targets across the Street. Analyst Commentary Recent Street research on Expro Group Holdings highlights a more constructive tone, with several firms shifting to more favorable ratings and adjusting targets as they reassess the stock's risk and reward profile.