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U.S. Commercial Services Industry Analysis

UpdatedNov 23, 2025
DataAggregated Company Financials
Companies151
  • 7D1.7%
  • 3M-7.7%
  • 1Y-10.5%
  • YTD-0.4%

Over the last 7 days, the Commercial Services industry has risen 1.7%, driven by gains in Waste Management and Republic Services of 3.6% and 4.4%, respectively. Meanwhile, RB Global actually underperformed within the industry, shrinking 5.3% in the last week. However, the industry is down 10% over the past year. As for the next few years, earnings are expected to grow by 15% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
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
Mon, 02 Jan 2023US$313.9bUS$131.4bUS$7.6b20.4x41.1x2.4x
Wed, 30 Nov 2022US$326.4bUS$130.6bUS$7.6b20.1x43.1x2.5x
Price to Earnings Ratio

43.1x


Total Market Cap: US$326.4bTotal Earnings: US$7.6bTotal Revenue: US$130.6bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Commercial Services Industry Price to Earnings3Y Average 43.5x202320242025
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 37.1x which is lower than its 3-year average PE of 43.5x.
  • 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 18% per year over the last three years.
  • Revenues for these companies have grown 5.2% 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-2.02%
Industrials-1.81%
Commercial Services1.73%
Environmental and Facilities Services3.24%
Commercial Printing1.85%
Office Services and Supplies1.32%
Diversified Support Services-1.00%
Security and Alarm Services-1.07%
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 39.9x.
    • Analysts are expecting annual earnings growth of 15.1%, which is higher than its past year's earnings decline of 16.2% 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$216.623.6%
+US$3.0b		-3.5%PE34x
RSG Republic ServicesUS$219.004.4%
+US$2.8b		1.0%PE32.2x
WCN Waste ConnectionsUS$175.304.0%
+US$1.7b		-7.7%PE72.1x
ROL RollinsUS$60.313.6%
+US$1.0b		19.1%PE56.2x
CLH Clean HarborsUS$217.045.4%
+US$597.9m		-14.0%PE29.9x

Latest News

BRC
US$77.72
Brady
7D
3.8%
1Y
6.8%
TTEK
US$33.05
Tetra Tech
7D
-8.7%
1Y
-19.3%
NVRI
US$17.40
Enviri
7D
30.0%
1Y
136.4%
CPRT
US$40.73
Copart
7D
-0.9%
1Y
-35.0%
BTM
US$1.49
Bitcoin Depot
7D
-27.0%
1Y
-25.1%
DLX
US$19.67
Deluxe
7D
-2.7%
1Y
-15.4%
ROL
US$60.31
Rollins
7D
3.6%
1Y
19.1%

ROL: Sector Resilience and Recurring Revenue Will Drive Steady Performance Moving Forward

Analysts have raised their price target for Rollins, increasing it from $60.42 to $61.61. They cite strong quarterly performance as well as the company's ongoing resilience and growth prospects in the pest control sector.
WM
US$216.62
Waste Management
7D
3.6%
1Y
-3.5%
CLH
US$217.04
Clean Harbors
7D
5.4%
1Y
-14.0%

CLH: Expanded Share Buyback and PFAS Leadership Will Drive Stronger Market Position

Analysts have slightly reduced their price target for Clean Harbors from $256.60 to $255.60. This change reflects minor adjustments in projected growth rates and profitability assumptions.
CWST
US$95.05
Casella Waste Systems
7D
6.6%
1Y
-15.6%

CWST: Free Cash Flow Compounding Will Drive Shares Higher Through 2026

Analysts have modestly lowered their price target for Casella Waste Systems from $115 to approximately $112.78 per share. They cite slightly slower revenue growth projections, improved profit margin estimates, and a more constructive outlook for 2026 as reasons for the adjustment.
KAR
US$24.93
OPENLANE
7D
-2.9%
1Y
25.0%

KAR: Revenue and Profit Margin Improvements Will Drive Positive Market Reappraisal

Analysts have slightly raised their price target for OPENLANE from $31.36 to $31.81, citing improved revenue growth and profit margin expectations. These factors more than offset a modestly higher discount rate and lower projected future price-to-earnings ratio.
RBA
US$96.22
RB Global
7D
-5.3%
1Y
-1.6%
BCO
US$110.42
Brink's
7D
-0.8%
1Y
14.4%

BCO: Profit Margins Will Drive Share Upside Amid Updated Revenue Outlook

Analysts have raised their fair value estimate for Brink's from $128.50 to $133.50. This change reflects updated expectations for improved profitability along with modest adjustments in growth and risk projections.
RSG
US$219.00
Republic Services
7D
4.4%
1Y
1.0%

RSG: Nationwide Labor Win And Buyback Will Drive Improved Outlook

Analysts have revised their price target for Republic Services slightly downward from $256.68 to $248.86. This change reflects updated forecasts for growth, profitability, and valuation multiples.
WCN
US$175.30
Waste Connections
7D
4.0%
1Y
-7.7%

WCN: Share Repurchases And Dividend Hike Will Drive Long-Term Margin Expansion

Waste Connections saw its average analyst price target edge up modestly by $0.42 to $207.00, as analysts cited continued outperformance versus expectations and optimism around long-term margin expansion and project execution, even though some forecasts for 2026 have been tempered. Analyst Commentary Analysts covering Waste Connections provided a range of perspectives following the latest financial results and guidance updates.
CTAS
US$185.80
Cintas
7D
-0.5%
1Y
-16.2%