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U.S. Commercial Services Industry Analysis

UpdatedJan 25, 2026
DataAggregated Company Financials
Companies158
  • 7D1.0%
  • 3M3.2%
  • 1Y-0.04%
  • YTD4.9%

Last week, the Commercial Services industry hasn't moved much but Waste Management is up 3.6% in that time. Furthermore, the industry has been flat for the past year as well. Earnings are forecast to grow by 14% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 25 Jan 2026US$479.7bUS$149.2bUS$12.3b26.2x39x3.2x
Tue, 23 Dec 2025US$459.2bUS$149.1bUS$12.3b23.9x37.2x3.1x
Thu, 20 Nov 2025US$451.1bUS$151.9bUS$12.3b21.8x36.6x3x
Sat, 18 Oct 2025US$475.6bUS$144.3bUS$12.2b27x39x3.3x
Mon, 15 Sep 2025US$488.3bUS$146.4bUS$11.8b25.7x41.4x3.3x
Wed, 13 Aug 2025US$512.0bUS$147.4bUS$11.8b30.2x43.5x3.5x
Fri, 11 Jul 2025US$500.2bUS$145.2bUS$11.2b29x44.6x3.4x
Sun, 08 Jun 2025US$516.2bUS$145.1bUS$11.3b25.4x45.7x3.6x
Tue, 06 May 2025US$517.2bUS$145.0bUS$11.1b28.4x46.7x3.6x
Thu, 03 Apr 2025US$505.8bUS$145.5bUS$11.0b31x46.2x3.5x
Sat, 01 Mar 2025US$496.1bUS$146.3bUS$11.0b29.7x44.9x3.4x
Mon, 27 Jan 2025US$490.0bUS$149.6bUS$11.6b31.5x42.3x3.3x
Wed, 25 Dec 2024US$480.8bUS$149.4bUS$11.6b31.4x41.5x3.2x
Fri, 22 Nov 2024US$505.1bUS$149.3bUS$11.8b31.5x42.9x3.4x
Sun, 20 Oct 2024US$501.3bUS$151.0bUS$10.4b27.8x48.1x3.3x
Tue, 17 Sep 2024US$491.1bUS$151.0bUS$10.3b26.6x47.7x3.3x
Thu, 15 Aug 2024US$474.0bUS$150.9bUS$10.4b27.5x45.6x3.1x
Sat, 13 Jul 2024US$472.9bUS$150.1bUS$9.9b28x47.7x3.2x
Mon, 10 Jun 2024US$451.3bUS$150.1bUS$9.8b25.5x46x3x
Wed, 08 May 2024US$459.2bUS$150.2bUS$10.0b27.7x45.9x3.1x
Fri, 05 Apr 2024US$458.3bUS$149.2bUS$9.5b27.5x48x3.1x
Sun, 03 Mar 2024US$440.0bUS$158.9bUS$9.6b26.3x45.8x2.8x
Tue, 30 Jan 2024US$414.0bUS$150.5bUS$9.8b26.6x42.3x2.8x
Thu, 28 Dec 2023US$413.7bUS$150.3bUS$9.8b26.6x42.3x2.8x
Sat, 25 Nov 2023US$393.1bUS$150.0bUS$9.6b25.4x41x2.6x
Mon, 23 Oct 2023US$361.0bUS$147.8bUS$10.2b24.8x35.4x2.4x
Wed, 20 Sep 2023US$356.3bUS$140.0bUS$9.2b26.6x38.9x2.5x
Fri, 18 Aug 2023US$353.5bUS$139.7bUS$9.1b26x38.9x2.5x
Sun, 16 Jul 2023US$365.0bUS$136.9bUS$9.0b26.9x40.6x2.7x
Tue, 13 Jun 2023US$352.3bUS$136.8bUS$7.1b27x49.6x2.6x
Thu, 11 May 2023US$349.9bUS$136.4bUS$7.3b25x48.1x2.6x
Sat, 08 Apr 2023US$331.7bUS$134.6bUS$7.7b22.7x43.2x2.5x
Mon, 06 Mar 2023US$320.1bUS$132.9bUS$8.3b24.1x38.6x2.4x
Wed, 01 Feb 2023US$320.9bUS$131.5bUS$7.8b22.9x40.9x2.4x
Price to Earnings Ratio

40.9x


Total Market Cap: US$320.9bTotal Earnings: US$7.8bTotal Revenue: US$131.5bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Commercial Services Industry Price to Earnings3Y Average 43.3x202420252026
Current Industry PE
  • Investors are pessimistic on the American Commercial Services industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 39.0x which is lower than its 3-year average PE of 43.3x.
  • The industry is trading close to its 3-year average PS ratio of 3.0x.
Past Earnings Growth
  • The earnings for companies in the Commercial Services industry have grown 16% per year over the last three years.
  • Revenues for these companies have grown 4.3% 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. Industrials industry?

US Market-0.36%
Industrials-1.53%
Commercial Services0.99%
Environmental and Facilities Services1.89%
Security and Alarm Services1.27%
Diversified Support Services-0.18%
Office Services and Supplies-0.34%
Commercial Printing-8.46%
Industry PE
  • Investors are most optimistic about the Environmental and Facilities Services industry, which is trading close to its 3-year average PE ratio of 40.3x.
    • Analysts are expecting annual earnings growth of 14.0%, which is higher than its past year's earnings decline of 2.9% per year.
  • Investors are most pessimistic about the Security and Alarm Services industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average.
Forecasted Growth
  • Analysts are most optimistic on the Security and Alarm Services industry, expecting annual earnings growth of 34% over the next 5 years.
  • However this is lower than its past earnings growth rate of 44% per year.
  • In contrast, the Diversified Support 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
WM Waste ManagementUS$229.233.6%
+US$3.2b		9.5%PE36x
RSG Republic ServicesUS$217.613.2%
+US$2.1b		2.7%PE32x
WCN Waste ConnectionsUS$170.221.9%
+US$796.1m		-4.2%PE70x
RBA RB GlobalUS$115.582.4%
+US$499.5m		27.9%PE54.9x
CPRT CopartUS$41.400.9%
+US$348.5m		-28.2%PE25.1x

Latest News

CTAS
US$192.96
Cintas
7D
-1.3%
1Y
-2.2%
RBA
US$115.58
RB Global
7D
2.4%
1Y
27.9%

RBA: Expanded Government Contract Will Support Stronger Long Term Performance

Analysts have lifted their fair value estimate for RB Global from US$135.00 to US$145.00, citing updated assumptions around discount rates, revenue growth, profit margins, and a higher future P/E multiple. What's in the News RB Global, through its IAA business, reported an expanded contract with the U.S. General Services Administration to support increased government fleet vehicle volume.
MEG
US$22.98
Montrose Environmental Group
7D
5.3%
1Y
-2.3%

MEG: PFAS Solutions And New Contracts Will Support Future Upside

Analysts have kept their price target for Montrose Environmental Group steady at US$36.00, citing slightly adjusted assumptions for discount rate, revenue growth, profit margin and future P/E that together support the unchanged fair value view. What's in the News Patent pending VeriPlume Capture System is introduced to measure methane emissions from high volume vents up to 60 feet above ground using a lightweight telescoping system, aiming to improve technician safety, collection efficiency and compliance with EPA OOOO-b regulations (Product related announcement).
OPLN
US$29.70
OPENLANE
7D
-1.4%
1Y
43.8%

OPLN: AI Tools And Cautious Execution Assumptions Will Shape Fairly Balanced Outlook

Analysts have raised their average price target on OPENLANE by about $0.13, reflecting small adjustments to fair value, discount rate, revenue growth, profit margin and future P/E assumptions after recent mixed target changes from Stephens, Barclays and JPMorgan. Analyst Commentary Recent Street research on OPENLANE points in slightly different directions, which is why the average target price has only inched up.
ROL
US$62.91
Rollins
7D
0.3%
1Y
30.1%
WM
US$229.23
Waste Management
7D
3.6%
1Y
9.5%

WM: Buybacks And Dividend Plan Will Support Measured Long Term Upside

Analysts have nudged their price target for Waste Management higher by about US$1, citing only small tweaks to fair value estimates, discount rate, revenue growth, profit margin, and future P/E assumptions. What's in the News The Board of Directors authorized a new share repurchase program allowing Waste Management to buy back up to US$3.0b of its shares, replacing the prior US$1.5b authorization from 2023 (Key Developments).
WCN
US$170.22
Waste Connections
7D
1.9%
1Y
-4.2%

WCN: Future Returns Will Be Driven By Compounding M&A Despite Chiquita Remediation Uncertainty

Narrative Update on Waste Connections Analysts have trimmed their average price target on Waste Connections by about $1. This reflects slightly higher discount rate assumptions, marginally lower revenue growth and profit margin expectations, and a modestly lower future P/E multiple, in line with recent target reductions from several firms.
TTEK
US$36.97
Tetra Tech
7D
-0.8%
1Y
-3.6%

TTEK: Conservative FY26 Guidance And Low Leverage Will Support Future Upside

Narrative Update: Tetra Tech Analyst Target Revision Analysts have nudged their price target on Tetra Tech up by $1 to $48, citing the recent Q4 earnings beat, in-line but viewed as conservative FY26 guidance, and the company's current leverage of 0.9, which they see as providing room for further M&A activity. Analyst Commentary Analysts are reacting to Tetra Tech's Q4 earnings beat and updated FY26 outlook by fine tuning their expectations, with the new US$48 target framed as a measured adjustment rather than a wholesale re-rating.
CLH
US$259.51
Clean Harbors
7D
-1.7%
1Y
8.2%

CLH: PFAS Filtration Wins And Buybacks Will Support Steady Outlook

Analysts have lifted their price target on Clean Harbors by roughly US$10 to reflect updated assumptions around fair value, discount rate, revenue growth, profit margin, and future P/E expectations. What's in the News Clean Harbors secured contracts worth US$110 million over the next three years to support PFAS water filtration at Joint Base Pearl Harbor Hickam in partnership with logistics supplier V2X, expanding the use of its regenerative carbon filtration and resin units that have operated in Hawaii since 2022 (Key Developments).
CPRT
US$41.40
Copart
7D
0.9%
1Y
-28.2%

CPRT: Digital Auctions Will Offset Insurance Volume And Market Share Headwinds

Analysts have trimmed their average price targets on Copart, with a mix of reductions such as Baird cutting its target to US$52 from US$55 and more cautious increases like Barclays raising its target to US$33 from US$32, reflecting ongoing insurance related headwinds and concerns about potential share loss in digital auctions. Analyst Commentary Recent research on Copart highlights a split view, with some analysts updating models around insurance trends while others focus on potential share loss in digital auctions and valuation risk.
PBI
US$10.22
Pitney Bowes
7D
-2.8%
1Y
20.5%

PBI: Share Repurchases And Dividend Will Support Future Upside Potential

Analysts have kept their fair value estimate for Pitney Bowes steady at US$13.00, with only slight tweaks to the discount rate, long term revenue and margin assumptions, and future P/E. This suggests their overall price target framework is broadly unchanged despite refreshed model inputs.
GEO
US$18.55
GEO Group
7D
5.5%
1Y
-43.9%
MSA
US$181.39
MSA Safety
7D
-1.8%
1Y
10.8%
VLTO
US$101.31
Veralto
7D
-1.3%
1Y
-0.4%
RSG
US$217.61
Republic Services
7D
3.2%
1Y
2.7%

RSG: New Labor Deal Will Support Future Upside Potential

Analysts have slightly trimmed their price target on Republic Services to about US$245 from roughly US$247, citing small adjustments to fair value, discount rate, revenue growth, profit margin and future P/E assumptions in their models. What's in the News Ameresco and Republic Services brought a renewable natural gas facility at the Upper Rock Island County Landfill in Illinois into operation in December, designed to process 2,000 standard cubic feet per minute of landfill gas into pipeline-quality fuel and produce more than 500,000 Dekatherms of RNG each year, with an expected avoidance of more than 27,000 metric tons of CO2 emissions annually (Key Developments).