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U.S. Commercial Services Industry Analysis

UpdatedJan 28, 2026
DataAggregated Company Financials
Companies158
  • 7D1.6%
  • 3M7.7%
  • 1Y-1.7%
  • YTD4.8%

The Commercial Services industry is up 1.6% in the last week, with Waste Management up 4.5%. The industry has been flat over the past 12 months despite the gain this week. As for the next few years, earnings are expected to grow by 14% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 28 Jan 2026US$482.0bUS$149.2bUS$12.3b25.9x39.2x3.2x
Fri, 26 Dec 2025US$465.2bUS$149.1bUS$12.3b24x37.7x3.1x
Sun, 23 Nov 2025US$458.0bUS$151.9bUS$12.4b22.3x37.1x3x
Tue, 21 Oct 2025US$483.9bUS$144.3bUS$12.2b26.7x39.7x3.4x
Thu, 18 Sep 2025US$480.4bUS$146.4bUS$11.8b24.9x40.8x3.3x
Sat, 16 Aug 2025US$504.5bUS$147.4bUS$11.7b29.8x42.9x3.4x
Mon, 14 Jul 2025US$499.9bUS$145.2bUS$11.2b28.6x44.6x3.4x
Wed, 11 Jun 2025US$512.8bUS$145.1bUS$11.3b25.7x45.4x3.5x
Fri, 09 May 2025US$519.6bUS$145.3bUS$11.0b28x47.3x3.6x
Sun, 06 Apr 2025US$478.0bUS$145.5bUS$11.0b29.3x43.6x3.3x
Tue, 04 Mar 2025US$502.6bUS$146.3bUS$11.0b29.2x45.5x3.4x
Thu, 30 Jan 2025US$496.6bUS$149.6bUS$11.6b31.5x42.9x3.3x
Sat, 28 Dec 2024US$480.1bUS$149.5bUS$11.6b31x41.5x3.2x
Mon, 25 Nov 2024US$522.2bUS$149.1bUS$11.6b32.7x45x3.5x
Wed, 23 Oct 2024US$498.2bUS$151.0bUS$10.4b27.2x47.8x3.3x
Fri, 20 Sep 2024US$481.6bUS$151.0bUS$10.3b27.3x46.6x3.2x
Sun, 18 Aug 2024US$479.1bUS$150.9bUS$10.4b31x46x3.2x
Tue, 16 Jul 2024US$476.3bUS$150.1bUS$9.9b27.8x48x3.2x
Thu, 13 Jun 2024US$453.8bUS$150.1bUS$9.8b25.4x46.2x3x
Sat, 11 May 2024US$459.3bUS$150.9bUS$10.1b27.1x45.3x3x
Mon, 08 Apr 2024US$455.2bUS$149.2bUS$9.5b27.7x47.7x3.1x
Wed, 06 Mar 2024US$442.7bUS$149.2bUS$9.4b27.1x47.1x3x
Fri, 02 Feb 2024US$421.3bUS$150.7bUS$9.7b25.8x43.3x2.8x
Sun, 31 Dec 2023US$414.1bUS$150.3bUS$9.8b26.1x42.4x2.8x
Tue, 28 Nov 2023US$393.1bUS$150.0bUS$9.6b25.7x41x2.6x
Thu, 26 Oct 2023US$365.2bUS$148.0bUS$10.3b23.9x35.6x2.5x
Sat, 23 Sep 2023US$348.2bUS$140.0bUS$9.2b26.4x37.9x2.5x
Mon, 21 Aug 2023US$350.2bUS$139.7bUS$9.1b25.1x38.5x2.5x
Wed, 19 Jul 2023US$365.0bUS$136.9bUS$9.0b28x40.6x2.7x
Fri, 16 Jun 2023US$352.2bUS$136.8bUS$7.1b25.9x49.5x2.6x
Sun, 14 May 2023US$350.1bUS$136.8bUS$7.1b25x49.4x2.6x
Tue, 11 Apr 2023US$332.1bUS$134.6bUS$7.7b23.5x43.2x2.5x
Thu, 09 Mar 2023US$317.6bUS$133.0bUS$8.3b23.6x38.5x2.4x
Sat, 04 Feb 2023US$321.3bUS$132.1bUS$7.9b23.1x40.5x2.4x
Price to Earnings Ratio

40.5x


Total Market Cap: US$321.3bTotal Earnings: US$7.9bTotal Revenue: US$132.1bTotal 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 39.2x 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 4.1% 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 Market2.04%
Industrials0.99%
Commercial Services1.62%
Environmental and Facilities Services2.82%
Commercial Printing1.19%
Office Services and Supplies0.93%
Diversified Support Services-0.31%
Security and Alarm Services-2.76%
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 13.9%, 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 35% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • 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$231.344.5%
+US$4.0b		8.3%PE36.3x
RSG Republic ServicesUS$217.193.1%
+US$2.0b		0.5%PE31.9x
WCN Waste ConnectionsUS$169.563.2%
+US$1.4b		-7.3%PE69.8x
RBA RB GlobalUS$117.403.7%
+US$770.6m		29.9%PE55.7x
CLH Clean HarborsUS$260.551.7%
+US$226.6m		10.4%PE35.8x

Latest News

ACVA
US$8.35
ACV Auctions
7D
-1.4%
1Y
-60.9%
CXW
US$18.66
CoreCivic
7D
-7.5%
1Y
-7.7%
ROL
US$63.49
Rollins
7D
0.6%
1Y
28.7%
RSG
US$217.19
Republic Services
7D
3.1%
1Y
0.5%

RSG: Renewable Gas Projects And Buybacks Will Support Future Upside

Analysts have nudged their price target on Republic Services down by about US$1 to roughly US$244, reflecting slightly softer assumptions for revenue growth and profit margins, along with a modestly higher future P/E multiple. What's in the News Ameresco and Republic Services brought a renewable natural gas facility at the Upper Rock Island County Landfill in East Moline, Illinois into operation, designed to process 2,000 standard cubic feet per minute of landfill gas into pipeline quality RNG and produce more than 500,000 Dekatherms each year, with the project framed as supporting Illinois clean energy goals and Republic Services biogas reuse target.
CTAS
US$191.21
Cintas
7D
-1.3%
1Y
-4.6%
RBA
US$117.40
RB Global
7D
3.7%
1Y
29.9%

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.
WM
US$231.34
Waste Management
7D
4.5%
1Y
8.3%

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$169.56
Waste Connections
7D
3.2%
1Y
-7.3%

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$37.33
Tetra Tech
7D
1.7%
1Y
-0.9%

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$260.55
Clean Harbors
7D
1.7%
1Y
10.4%

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$40.37
Copart
7D
-0.8%
1Y
-29.6%

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.
GEO
US$16.37
GEO Group
7D
-7.8%
1Y
-45.5%
MSA
US$180.20
MSA Safety
7D
-0.4%
1Y
9.9%
VLTO
US$100.56
Veralto
7D
-0.5%
1Y
-2.8%
ROMA
US$3.97
Roma Green Finance
7D
173.8%
1Y
459.5%
ESGL
US$3.56
ESGL Holdings
7D
-10.3%
1Y
229.6%