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U.S. Energy Services Industry Analysis

UpdatedJul 31, 2026
DataAggregated Company Financials
Companies87
  • 7D-1.3%
  • 3M-14.9%
  • 1Y47.9%
  • YTD24.5%

Over the last 7 days, the Energy Services industry has dropped 1.3%, driven by TechnipFMC declining 9.3%. In contrast, Baker Hughes has gained 6.8%. Over the past 12 months, the industry was up 48%. 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
Fri, 31 Jul 2026US$289.7bUS$170.6bUS$8.6b25.4x33.7x1.7x
Sun, 28 Jun 2026US$294.5bUS$170.2bUS$9.0b26.1x32.6x1.7x
Tue, 26 May 2026US$342.9bUS$170.2bUS$9.0b26.9x38x2x
Thu, 23 Apr 2026US$312.0bUS$167.8bUS$8.5b30x36.5x1.9x
Sat, 21 Mar 2026US$297.4bUS$167.1bUS$8.2b27.1x36.1x1.8x
Mon, 16 Feb 2026US$293.6bUS$167.1bUS$7.6b25x38.6x1.8x
Wed, 14 Jan 2026US$245.6bUS$166.4bUS$8.5b21x28.7x1.5x
Fri, 12 Dec 2025US$233.1bUS$166.4bUS$8.6b18.7x27.3x1.4x
Sun, 09 Nov 2025US$216.0bUS$165.6bUS$8.8b16.3x24.4x1.3x
Tue, 07 Oct 2025US$204.8bUS$166.1bUS$10.0b15.4x20.4x1.2x
Thu, 04 Sep 2025US$199.4bUS$166.1bUS$10.0b14.6x19.9x1.2x
Sat, 02 Aug 2025US$190.6bUS$164.7bUS$11.3b11.7x16.8x1.2x
Mon, 30 Jun 2025US$179.2bUS$171.1bUS$12.2b11x14.7x1x
Wed, 28 May 2025US$174.4bUS$171.3bUS$12.2b10.9x14.2x1x
Fri, 25 Apr 2025US$169.7bUS$170.2bUS$13.0b10.6x13.1x1x
Sun, 23 Mar 2025US$207.2bUS$170.8bUS$13.4b13.9x15.4x1.2x
Tue, 18 Feb 2025US$224.6bUS$170.5bUS$13.7b15.4x16.3x1.3x
Thu, 16 Jan 2025US$224.2bUS$169.9bUS$13.6b16.3x16.5x1.3x
Sat, 14 Dec 2024US$219.4bUS$168.9bUS$13.5b16.3x16.2x1.3x
Mon, 11 Nov 2024US$224.8bUS$168.8bUS$13.6b16.2x16.5x1.3x
Wed, 09 Oct 2024US$227.6bUS$165.8bUS$14.8b18.7x15.4x1.4x
Fri, 06 Sep 2024US$211.0bUS$165.7bUS$14.7b17.5x14.4x1.3x
Sun, 04 Aug 2024US$229.4bUS$166.5bUS$14.6b17.6x15.7x1.4x
Tue, 02 Jul 2024US$238.9bUS$164.6bUS$13.9b13.8x17.2x1.5x
Thu, 30 May 2024US$240.2bUS$164.6bUS$13.9b14.4x17.3x1.5x
Sat, 27 Apr 2024US$245.4bUS$164.3bUS$13.3b13.7x18.4x1.5x
Mon, 25 Mar 2024US$246.8bUS$160.7bUS$13.1b17.2x18.8x1.5x
Wed, 21 Feb 2024US$219.8bUS$160.2bUS$12.5b15.7x17.5x1.4x
Fri, 19 Jan 2024US$219.9bUS$161.6bUS$12.1b16x18.2x1.4x
Sun, 17 Dec 2023US$233.4bUS$160.7bUS$12.1b16.9x19.3x1.5x
Tue, 14 Nov 2023US$241.9bUS$160.5bUS$12.1b18.6x20x1.5x
Thu, 12 Oct 2023US$260.3bUS$156.1bUS$11.3b15.2x23.1x1.7x
Sat, 09 Sep 2023US$264.6bUS$155.2bUS$11.2b16.7x23.7x1.7x
Mon, 07 Aug 2023US$568.9bUS$153.8bUS$10.8b20.9x52.6x3.7x
Price to Earnings Ratio

52.6x


Total Market Cap: US$568.9bTotal Earnings: US$10.8bTotal Revenue: US$153.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Energy Services Industry Price to Earnings3Y Average 22x202420252026
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 33.7x which is higher than its 3-year average PE of 22.0x.
  • 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 7.4% per year over the last three years.
  • Meanwhile revenues for these companies have grown 3.5% 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 Market0.50%
Energy-1.31%
Energy Services-1.29%
Oil and Gas Services-0.96%
Oil and Gas Drilling-4.14%
Industry PE
  • Investors are most optimistic about the Oil and Gas Services industry which is trading above its 3-year average PE ratio of 18.6x.
    • Analysts are expecting annual earnings growth of 16.5%, which is higher than its past year's earnings decline of 24.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the Oil and Gas Drilling industry, expecting annual earnings growth of 69% 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
BKR Baker HughesUS$59.906.8%
+US$3.8b		33.0%PE19.2x
SLB SLBUS$48.913.6%
+US$2.0b		44.7%PE23.4x
WHD CactusUS$62.0011.9%
+US$472.2m		46.5%PE59x
SMHI SEACOR Marine HoldingsUS$9.5424.2%
+US$51.0m		90.8%PS1.2x
LSE Leishen Energy HoldingUS$4.607.5%
+US$5.4m		-17.9%PE62.4x

Latest News

SEI
US$51.28
Solaris Energy Infrastructure
7D
-15.1%
1Y
57.0%
WHD
US$62.00
Cactus
7D
11.9%
1Y
46.5%
FTI
US$68.92
TechnipFMC
7D
-9.3%
1Y
89.5%
BOOM
US$6.26
DMC Global
7D
1.6%
1Y
-22.6%
BKR
US$59.90
Baker Hughes
7D
6.8%
1Y
33.0%
WTTR
US$18.16
Select Water Solutions
7D
-12.9%
1Y
88.6%
Seeking Alpha • Jul 29

Select Water Solutions: Monetizing The Same Barrel More Than Once

Summary Select Water Solutions is transitioning from a cyclical oilfield services provider to a recurring-revenue water infrastructure platform with higher margins and contract-backed cash flows. The Water Infrastructure segment outpaces the legacy business, delivering a 56.2% gross margin before D&A and driving capital allocation; network density and long-term contracts enhance the competitive moat. Recent capital raises and infrastructure investments provide a growth runway but increase expectations for returns; Q1’26 free cash flow was negative due to working capital build-up, not earnings quality. Optionality from mineral royalties (lithium, iodine) offers upside, though not yet factored into the thesis; focus remains on cash conversion, infrastructure utilization, and margin expansion. Read the full article on Seeking Alpha
NOV
US$19.30
NOV
7D
-4.1%
1Y
53.4%
HAL
US$31.64
Halliburton
7D
-3.3%
1Y
41.3%
Narrative Update • Jul 28

HAL: International Integrated Contracts And Automation Progress Will Drive Bullish Repricing

For this Narrative Update on Halliburton, the analyst price target shifts to $53. Analysts cite updated assumptions around slightly higher revenue growth, profit margins, and a modestly higher future P/E multiple as key drivers of the change.
LSE
US$4.60
Leishen Energy Holding
7D
7.5%
1Y
-17.9%
SLB
US$48.91
SLB
7D
3.6%
1Y
44.7%
AROC
US$35.42
Archrock
7D
-7.7%
1Y
51.6%
GEOS
US$7.20
Geospace Technologies
7D
1.1%
1Y
-55.6%
KGS
US$58.26
Kodiak Gas Services
7D
-10.8%
1Y
80.2%
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$10.30
Atlas Energy Solutions
7D
-21.2%
1Y
-20.8%
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.
NINE
US$12.24
Nine Energy Service
7D
0.3%
1Y
n/a
SMHI
US$9.54
SEACOR Marine Holdings
7D
24.2%
1Y
90.8%