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U.S. Energy Services Industry Analysis

UpdatedJul 25, 2026
DataAggregated Company Financials
Companies88
  • 7D3.1%
  • 3M-10.2%
  • 1Y49.3%
  • YTD29.2%

The Energy Services industry is up 3.1% in the last week, with SLB up 12%. In the same time, Halliburton was down 5.3%. In the last 12 months, the industry was up 49%. Earnings are forecast to grow by 20% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 25 Jul 2026US$297.7bUS$170.4bUS$8.9b28.3x33.4x1.7x
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
Price to Earnings Ratio

52x


Total Market Cap: US$569.7bTotal Earnings: US$11.0bTotal Revenue: US$153.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Energy Services Industry Price to Earnings3Y Average 22.1x202420252026
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 33.4x which is higher than its 3-year average PE of 22.1x.
  • The 3-year average PS ratio of 1.5x is lower than the industry's current PS ratio of 1.7x.
Past Earnings Growth
  • The earnings for companies in the Energy Services industry have declined 6.6% per year over the last three years.
  • Meanwhile revenues for these companies have grown 3.7% 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, which has decreased profits.

Industry Trends

Which industries have driven the changes within the U.S. Energy industry?

US Market-1.06%
Energy3.26%
Energy Services3.12%
Oil and Gas Drilling3.44%
Oil and Gas Services3.08%
Industry PE
  • Investors are most optimistic about the Oil and Gas Services industry which is trading above its 3-year average PE ratio of 18.7x.
    • Analysts are expecting annual earnings growth of 15.8%, which is higher than its past year's earnings decline of 24.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Oil and Gas Drilling industry, expecting annual earnings growth of 56% 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 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$52.4211.6%
+US$8.1b		47.8%PE23.5x
FTI TechnipFMCUS$76.756.5%
+US$1.9b		110.6%PE28.3x
BKR Baker HughesUS$57.252.3%
+US$1.3b		24.3%PE18.2x
OII Oceaneering InternationalUS$52.7324.7%
+US$1.0b		132.6%PE15x
WFRD Weatherford InternationalUS$88.689.9%
+US$568.1m		56.0%PE17.4x

Latest News

LBRT
US$17.36
Liberty Energy
7D
-27.2%
1Y
32.1%
WFRD
US$88.68
Weatherford International
7D
9.9%
1Y
56.0%
SLB
US$52.42
SLB
7D
11.6%
1Y
47.8%
AROC
US$36.14
Archrock
7D
-2.7%
1Y
55.1%
OII
US$52.73
Oceaneering International
7D
24.7%
1Y
132.6%
KGS
US$59.08
Kodiak Gas Services
7D
-9.4%
1Y
88.9%
Narrative Update • Jul 23

KGS: Data Center Power Deals And Compression Trends Will Shape Balanced Outlook

Analysts have lifted the fair value estimate for Kodiak Gas Services from $36.00 to $72.00, citing updated assumptions for revenue growth, profit margins, and a higher future P/E multiple supported by recent price target increases related to compression demand and behind the meter power opportunities. Analyst Commentary on Kodiak Gas Services Recent research on Kodiak Gas Services has centered on two themes that matter for investors: the tight compression market and the push into behind the meter power and data center related opportunities.
AESI
US$11.96
Atlas Energy Solutions
7D
-15.0%
1Y
-14.9%
Narrative Update • Jul 23

AESI: Power Buildout And Capacity Choices Will Drive Future Upside Potential

Analysts now place Atlas Energy Solutions' fair value at $19.92, up from $13.77, reflecting updated assumptions on revenue growth, profitability and P/E levels in the context of recent price target shifts across the Street. Analyst Commentary Recent research on Atlas Energy Solutions shows a split view, with some bullish analysts highlighting growth opportunities in power solutions and others more cautious around sector positioning and capacity decisions.
NOV
US$20.76
NOV
7D
6.4%
1Y
48.6%
HAL
US$33.36
Halliburton
7D
-5.3%
1Y
48.6%
Seeking Alpha • Jul 23

Halliburton: Q2 Sell-Off Creates A Buying Opportunity

Summary Halliburton remains a strong buy after Q2 results, despite a sharp sell-off driven by Middle East concerns and flat-to-down near-term guidance. Significant international contract wins, especially in Iraq and with Aramco, plus technology exports like Zeus electric fleets, underpin long-term growth and margin expansion. Q2 beat on EPS ($0.55) and revenue ($5.7B); strong North American stimulation and South American growth offset some regional softness and margin compression. HAL trades at an EV/EBITDA discount to peers; with upside to $44–$53 if EPS targets are met, I see current levels as a buy/add point, especially on further dips. Read the full article on Seeking Alpha
FTI
US$76.75
TechnipFMC
7D
6.5%
1Y
110.6%
Narrative Update • Jul 21

FTI: Expanding Subsea Contract Backlog And Buybacks Will Support Future Upside

Analysts have trimmed the TechnipFMC fair value estimate to $87 from $90, as slightly higher discount rate assumptions offset modestly stronger outlooks for revenue growth, profit margins, and future P/E multiples supported by a series of recent price target revisions across the Street. Analyst Commentary Street research on TechnipFMC has leaned constructive, with several bullish analysts revising price targets higher and pointing to specific drivers that they view as supportive for the stock's valuation and execution outlook.
RIG
US$5.35
Transocean
7D
4.1%
1Y
78.3%
Seeking Alpha • Jul 21

Transocean: Downgrading To Hold, Waiting For Valaris Tailwinds

Summary Transocean Ltd. is downgraded to Hold as I await evidence that the Valaris acquisition delivers structural benefits. The $5.8B Valaris deal will expand RIG’s fleet to 73 rigs, diversify its global footprint, and target $200M in synergies. Q2 setup appears underwhelming despite higher crude prices; I project $965M revenue and $0.02 adjusted EPS, with opex still elevated. Balance sheet improvement is key; management targets 1.5x net leverage within two years post-Valaris, which could drive a re-rating if achieved. Read the full article on Seeking Alpha
BKR
US$57.25
Baker Hughes
7D
2.3%
1Y
24.3%
Narrative Update • Jul 20

BKR: Future Returns Will Balance Data Center Power Deals And Geopolitical Energy Risks

The Baker Hughes analyst price target increases slightly to $53.49 from $52.30, as analysts factor in a modestly lower discount rate, a neutral adjustment to assumed revenue growth, and a slightly higher profit margin outlook within a similar future P/E framework. Analyst Commentary Recent Street research on Baker Hughes shows a mix of optimism around long term energy security themes and more cautious adjustments tied to near term volatility in oil prices, geopolitics, and the timing of industry spending.
SEI
US$54.03
Solaris Energy Infrastructure
7D
-10.4%
1Y
66.2%
Narrative Update • Jul 20

SEI: Expanding Contracted Gas Capacity Will Support Future AI Power Demands

Analysts have nudged the Solaris Energy Infrastructure fair value estimate higher from $110.80 to about $118.10, citing expanded power contracts with data center customers, fresh coverage initiations with targets up to $120, and model updates that reflect revised growth, profitability, and future P/E assumptions. Analyst Commentary Recent Street research on Solaris Energy Infrastructure highlights growing interest in the stock as the company builds out contracted power capacity for data centers and other large loads facing grid-interconnection delays.
PUMP
US$11.80
ProPetro Holding
7D
-9.2%
1Y
96.7%
Narrative Update • Jul 16

PUMP: Expanded Power Capacity And Microgrid Contracts Will Support Multi Year Upside

The updated analyst price target for ProPetro Holding moves to $23.00, reflecting revised assumptions around fair value, revenue growth, profit margin, and future P/E as analysts factor in expanded power capacity agreements and expectations for the PROPWR segment to support multi-year growth for the company. Analyst Commentary Recent research on ProPetro Holding points to generally constructive sentiment, with several bullish analysts adjusting price targets upward and highlighting the potential impact of expanded power capacity and the PROPWR segment on the company’s long term opportunity set.
NE
US$43.26
Noble
7D
4.2%
1Y
52.7%
TTI
US$8.31
TETRA Technologies
7D
-10.3%
1Y
123.4%