20-quarter listed-company comparison

Oil & Gas Equipment & Services Stocks

Oil & Gas Equipment & Services: Baker Hughes Company owns the largest revenue base; Solaris Energy Infrastructure, Inc. has the fastest current growth.

The industry itself · before any single company

How has Oil & Gas Equipment & Services moved against S&P 500?

The line below covers 5.2 years. Over the most recent two of them this industry is 36% ahead of S&P 500. Earnings across its companies fell 3% on average over the last four reported quarters.

ASLEEP · 1y +50.7%~Price up, without the fundamentals confirming6 of 38 companies ahead of S&P 500 by 5% or more over three months

RS — · 22/38 >200d (−3) · 6/38 lead (+1) · EPS 17/35↑

Oil & Gas Equipment & Services, equal-weighted, based at 200 S&P 500, same base, same start trailing 12-month earnings per share rising falling

Strength anatomy NarrowHow much of the industry is participating, how recently, and whether the movers score well.

Together6 of 38 stocks moving

Fresh3 crossed in the last 4 weeks

Backed by scoresmovers score +7 vs the industry average

Down the cap ladder — bar is now, tick is four weeks ago

Large 0/80

Mid 5/13+2

Small 1/17−1

Participation is spreading downward — the mid and small companies added more this month than the large ones did.

Both lines start at 200 in the same week, so the distance between them is the whole story: the industry line is an equal-weighted index of its 38 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the industry taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

Sector relative strength · before individual stocks

Is Oil & Gas Equipment & Services outperforming S&P 500?

Oil & Gas Equipment & Services has outperformed S&P 500 by 38.8% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 15%. 17 of 28 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is selective. Oceaneering International, Inc. is the strongest against the sector itself at +35.7%.

-15.0%Sector vs S&P 500 · 13 weeks

+38.8%Sector vs S&P 500 · 52 weeks

17/28Stocks leading S&P 500

11/28Stocks leading sector

Sector metric: — as of latest available · unclassified · direction unavailable.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

Oil & Gas Equipment & Services has outperformed S&P 500 by 38.8% over 52 weeks and 15% over 13 weeks. 17 of 28 covered companies beat the S&P 500 on Mansfield relative strength, while 11 of 28 beat the sector itself. Baker Hughes Company leads with revenue of $27,893 million, based on 22 of 30 comparable companies through Mar 2026.

Is the Oil & Gas Equipment & Services sector outperforming S&P 500?

Which Oil & Gas Equipment & Services company is largest by revenue?

Baker Hughes Company leads with revenue of $27,893 million, based on 22 of 30 comparable companies through Mar 2026.

Which Oil & Gas Equipment & Services company is growing fastest?

Solaris Energy Infrastructure, Inc. has the fastest current revenue growth at 86.5%, across 22 of 30 comparable companies.

Which Oil & Gas Equipment & Services company has the strongest 4-Factor Sector Score?

TechnipFMC plc ranks first at 68.6/100 with 82% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Oil & Gas Equipment & Services company reports the most CAPEX?

NextDecade Corporation reports the largest latest CAPEX at $1,177 million, with 30 of 30 companies comparable.

Which Oil & Gas Equipment & Services company has the least gross debt?

Cactus, Inc. has the lowest comparable gross debt at $55 million. Baker Hughes Company has the highest at $16,164 million.

Which Oil & Gas Equipment & Services company has the lowest comparable PEG?

Innovex International, Inc. has the lowest comparable Guarded PEG at 0.1, among 13 of 30 companies that pass the metric’s comparability rules.

How much history does this Oil & Gas Equipment & Services comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

Companies

complete canonical membership

Combined market value

$296.5B

SLB N.V.

Revenue growing

15/22

positive TTM year-on-year growth

Beating S&P 500

17/28

positive Mansfield relative strength

Global company selection

00 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%

TechnipFMC plc has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 82% evidence confidence.

Tidewater Inc. looks inexpensive relative to peers or its own history, but its earnings trajectory has not yet earned the valuation signal.

Oceaneering International, Inc. has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is guarded: positive earnings, positive 5–60% three-year EPS growth, and a positive P/E are required.

1. TechnipFMC plc · FTI

68.6/100 · Favorable setup · 82% evidence

Exact sum: 23.5 + 14.5 + 13.1 + 17.5 = 68.6

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

23.5/35Growth & earnings

Revenue 9.9% · PAT 21.1% · OPM change 2.4 pp

83% evidence

14.5/25Capital efficiency

ROCE 7% · debt/equity 0.39×

80% evidence

13.1/20Valuation

P/E 26.4× · PEG 0.7

65% evidence

17.5/20Relative strength

RS sector 15.9% · RS bench 22% · 1Y 105%

100% evidence

2. Archrock, Inc. · AROC

65.1/100 · Favorable setup · 82% evidence

Exact sum: 22.1 + 13.1 + 15.1 + 14.8 = 65.1

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

22.1/35Growth & earnings

Revenue 22.6% · PAT 60.1% · OPM change -1.3 pp

83% evidence

13.1/25Capital efficiency

ROCE 3.2% · debt/equity 1.57×

80% evidence

15.1/20Valuation

P/E 18.9× · PEG 0.34

65% evidence

14.8/20Relative strength

RS sector 1.1% · RS bench 7.9% · 1Y 57%

100% evidence

3. Tenaris S.A. · TS

64.3/100 · Mixed-positive evidence · 82% evidence

Exact sum: 18.7 + 17.5 + 13 + 15.1 = 64.3

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

18.7/35Growth & earnings

Revenue 1.3% · PAT 9.5% · OPM change 0 pp

83% evidence

17.5/25Capital efficiency

ROCE 3.2% · debt/equity 0.03×

80% evidence

13.0/20Valuation

P/E 15.2× · PEG 0.89

65% evidence

15.1/20Relative strength

RS sector 3% · RS bench 9.3% · 1Y 60.5%

100% evidence

4. National Energy Services Reunited Corp. · NESR

62.6/100 · Mixed-positive evidence · 82% evidence

Exact sum: 20.1 + 13 + 13.9 + 15.6 = 62.6

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

20.1/35Growth & earnings

Revenue 8.9% · PAT -15.6% · OPM change 2 pp

83% evidence

13.0/25Capital efficiency

ROCE 2.8% · debt/equity 0.31×

80% evidence

13.9/20Valuation

P/E 33× · PEG 0.4

65% evidence

15.6/20Relative strength

RS sector 25.3% · RS bench 29.8% · 1Y 299.2%

100% evidence

5. Oceaneering International, Inc. · OII

60.8/100 · Thin evidence · provisional · 59% evidence

Exact sum: 16.2 + 13.1 + 11.5 + 20 = 60.8

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

16.2/35Growth & earnings

Revenue — · PAT — · OPM change -2.6 pp

45% evidence

13.1/25Capital efficiency

ROCE 4.9% · debt/equity 0.61×

80% evidence

11.5/20Valuation

P/E 11.6× · PEG —

15% evidence

20.0/20Relative strength

RS sector 35.7% · RS bench 43.9% · 1Y 126.7%

100% evidence

6. Halliburton Company · HAL

56.7/100 · Thin evidence · provisional · 59% evidence

Exact sum: 24.8 + 17.8 + 10.8 + 3.3 = 56.7

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

24.8/35Growth & earnings

Revenue — · PAT — · OPM change 4.6 pp

45% evidence

17.8/25Capital efficiency

ROCE 24.2% · debt/equity 0.74×

80% evidence

10.8/20Valuation

P/E 17.8× · PEG —

15% evidence

3.3/20Relative strength

RS sector -12.7% · RS bench -7.3% · 1Y 44.6%

100% evidence

7. LandBridge Company LLC · LB

56.2/100 · Mixed-positive evidence · 65% evidence

Exact sum: 17.6 + 12.1 + 9.4 + 17.1 = 56.2

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

17.6/35Growth & earnings

Revenue 54.5% · PAT — · OPM change 0.2 pp

62% evidence

12.1/25Capital efficiency

ROCE 2.5% · debt/equity 0.66×

80% evidence

9.4/20Valuation

P/E 71.2× · PEG —

15% evidence

17.1/20Relative strength

RS sector 3% · RS bench 11% · 1Y 35.4%

100% evidence

8. USA Compression Partners, LP · USAC

56.0/100 · Mixed-positive evidence · 82% evidence

Exact sum: 23.6 + 11.6 + 13.3 + 7.5 = 56

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

23.6/35Growth & earnings

Revenue 12.1% · PAT 34.4% · OPM change -0.7 pp

83% evidence

11.6/25Capital efficiency

ROCE 3% · debt/equity 9.45×

80% evidence

13.3/20Valuation

P/E 28× · PEG 0.66

65% evidence

7.5/20Relative strength

RS sector -13.3% · RS bench -5.7% · 1Y 11.7%

100% evidence

9. Tidewater Inc. · TDW

54.1/100 · Mixed-positive evidence · 82% evidence

Exact sum: 15 + 13.3 + 14.9 + 10.9 = 54.1

Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.

15.0/35Growth & earnings

Revenue -0.9% · PAT 69.7% · OPM change -4.4 pp

83% evidence

13.3/25Capital efficiency

ROCE 3.1% · debt/equity 0.48×

80% evidence

14.9/20Valuation

P/E 14× · PEG 0.43

65% evidence

10.9/20Relative strength

RS sector -1.2% · RS bench 5.6% · 1Y 57.1%

100% evidence

10. Select Water Solutions, Inc. · WTTR

53.3/100 · Mixed-positive evidence · 65% evidence

Exact sum: 15.5 + 9.5 + 9.3 + 19 = 53.3

Decision use: Price leads the evidence: RS versus the benchmark is 25.8%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

15.5/35Growth & earnings

Revenue -4.1% · PAT — · OPM change 0.7 pp

62% evidence

9.5/25Capital efficiency

ROCE 1.3% · debt/equity 0.25×

80% evidence

9.3/20Valuation

P/E 72.9× · PEG —

15% evidence

19.0/20Relative strength

RS sector 19.2% · RS bench 25.8% · 1Y 99.8%

100% evidence

11. Solaris Energy Infrastructure, Inc. · SEI

53.0/100 · Mixed-positive evidence · 82% evidence

Exact sum: 27.3 + 11.5 + 12.8 + 1.4 = 53

Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -22.1% and the one-year return is 57.6%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.

27.3/35Growth & earnings

Revenue 86.5% · PAT 100% · OPM change 8.3 pp

83% evidence

11.5/25Capital efficiency

ROCE 2.8% · debt/equity 1.46×

80% evidence

12.8/20Valuation

P/E 63.5× · PEG 0.5

65% evidence

1.4/20Relative strength

RS sector -22.1% · RS bench -17.4% · 1Y 57.6%

100% evidence

12. SLB N.V. · SLB

52.8/100 · Thin evidence · provisional · 59% evidence

Exact sum: 16.7 + 13.4 + 10.5 + 12.2 = 52.8

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

16.7/35Growth & earnings

Revenue — · PAT — · OPM change -1.5 pp

45% evidence

13.4/25Capital efficiency

ROCE 2.8% · debt/equity 0.47×

80% evidence

10.5/20Valuation

P/E 22.5× · PEG —

15% evidence

12.2/20Relative strength

RS sector -1.4% · RS bench 5.2% · 1Y 51.2%

100% evidence

13. Kodiak Gas Services, Inc. · KGS

50.6/100 · Mixed-positive evidence · 82% evidence

Exact sum: 22.2 + 9.4 + 6.7 + 12.3 = 50.6

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

22.2/35Growth & earnings

Revenue 3.9% · PAT 32.7% · OPM change 3.8 pp

83% evidence

9.4/25Capital efficiency

ROCE 2.6% · debt/equity 2.41×

80% evidence

6.7/20Valuation

P/E 78.8× · PEG 1.99

65% evidence

12.3/20Relative strength

RS sector 3% · RS bench 8.1% · 1Y 80.5%

100% evidence

14. Enerflex Ltd. · EFXT

49.6/100 · Mixed-negative evidence · 82% evidence

Exact sum: 17.4 + 12.3 + 6.9 + 13 = 49.6

Decision use: Price leads the evidence: RS versus the benchmark is 13.3%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

17.4/35Growth & earnings

Revenue 11.8% · PAT 12.2% · OPM change -1.3 pp

83% evidence

12.3/25Capital efficiency

ROCE 3.7% · debt/equity 0.55×

80% evidence

6.9/20Valuation

P/E 31.3× · PEG 2.31

65% evidence

13.0/20Relative strength

RS sector 8.8% · RS bench 13.3% · 1Y 178.2%

100% evidence

15. Baker Hughes Company · BKR

48.6/100 · Mixed-negative evidence · 82% evidence

Exact sum: 21.2 + 13.9 + 5.9 + 7.6 = 48.6

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

21.2/35Growth & earnings

Revenue 0.2% · PAT 6.7% · OPM change 11.1 pp

83% evidence

13.9/25Capital efficiency

ROCE 4.3% · debt/equity 0.83×

80% evidence

5.9/20Valuation

P/E 19.5× · PEG 2.86

65% evidence

7.6/20Relative strength

RS sector -6.7% · RS bench 0.4% · 1Y 34.4%

100% evidence

16. Flowco Holdings Inc. · FLOC

48.0/100 · Mixed-negative evidence · 72% evidence

Exact sum: 19.7 + 14.1 + 10.9 + 3.3 = 48

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

19.7/35Growth & earnings

Revenue 17.7% · PAT 45.6% · OPM change -1.1 pp

83% evidence

14.1/25Capital efficiency

ROCE 2.2% · debt/equity 0.27×

80% evidence

10.9/20Valuation

P/E 17.6× · PEG —

15% evidence

3.3/20Relative strength

RS sector -15.3% · RS bench -9.4% · 1Y 12.1%

100% evidence

17. Bristow Group Inc. · VTOL

47.7/100 · Mixed-negative evidence · 76% evidence

Exact sum: 15.3 + 8.1 + 16.1 + 8.2 = 47.7

Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.

15.3/35Growth & earnings

Revenue 6.8% · PAT 0.9% · OPM change -0.7 pp

83% evidence

8.1/25Capital efficiency

ROCE 1.8% · debt/equity 0.94×

80% evidence

16.1/20Valuation

P/E 12.2× · PEG 0.24

65% evidence

8.2/20Relative strength

RS sector -6.3% · RS bench 1.7% · 1Y 36.9%

70% evidence

18. Cactus, Inc. · WHD

46.6/100 · Mixed-negative evidence · 82% evidence

Exact sum: 10.7 + 15.2 + 9.7 + 11 = 46.6

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

10.7/35Growth & earnings

Revenue 4.6% · PAT -20.8% · OPM change -11.8 pp

83% evidence

15.2/25Capital efficiency

ROCE 2.7% · debt/equity 0.04×

80% evidence

9.7/20Valuation

P/E 44.7× · PEG 1.36

65% evidence

11.0/20Relative strength

RS sector -5.4% · RS bench 1.9% · 1Y 33.9%

100% evidence

19. Innovex International, Inc. · INVX

43.8/100 · Mixed-negative evidence · 76% evidence

Exact sum: 10.3 + 8.9 + 15.1 + 9.5 = 43.8

Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.

10.3/35Growth & earnings

Revenue 26.4% · PAT -63.6% · OPM change -18.2 pp

83% evidence

8.9/25Capital efficiency

ROCE -2% · debt/equity 0.07×

80% evidence

15.1/20Valuation

P/E 32.5× · PEG 0.1

65% evidence

9.5/20Relative strength

RS sector -3.8% · RS bench 3.1% · 1Y 62.5%

70% evidence

20. NOV Inc. · NOV

42.7/100 · Mixed-negative evidence · 72% evidence

Exact sum: 8.3 + 10.1 + 9.2 + 15.1 = 42.7

Decision use: Price leads the evidence: RS versus the benchmark is 8.1%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

8.3/35Growth & earnings

Revenue -1.4% · PAT -83.5% · OPM change -4.9 pp

83% evidence

10.1/25Capital efficiency

ROCE 0.5% · debt/equity 0.37×

80% evidence

9.2/20Valuation

P/E 78.4× · PEG —

15% evidence

15.1/20Relative strength

RS sector 1.1% · RS bench 8.1% · 1Y 63.4%

100% evidence

21. RPC, Inc. · RES

39.6/100 · Mixed-negative evidence · 66% evidence

Exact sum: 14.9 + 11.5 + 9.1 + 4.1 = 39.6

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

14.9/35Growth & earnings

Revenue 27.7% · PAT -72.4% · OPM change -3.1 pp

83% evidence

11.5/25Capital efficiency

ROCE 0.2% · debt/equity 0.07×

80% evidence

9.1/20Valuation

P/E 78.7× · PEG —

15% evidence

4.1/20Relative strength

RS sector -22.9% · RS bench -17.3% · 1Y 15.4%

70% evidence

22. Weatherford International plc · WFRD

38.9/100 · Thin evidence · provisional · 59% evidence

Exact sum: 13.4 + 11 + 11.1 + 3.4 = 38.9

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

13.4/35Growth & earnings

Revenue — · PAT — · OPM change -1.2 pp

45% evidence

11.0/25Capital efficiency

ROCE 2.9% · debt/equity 0.91×

80% evidence

11.1/20Valuation

P/E 16.1× · PEG —

15% evidence

3.4/20Relative strength

RS sector -13.1% · RS bench -7.3% · 1Y 52.7%

100% evidence

23. Liberty Energy Inc. · LBRT

35.3/100 · Thin evidence · provisional · 59% evidence

Exact sum: 17.2 + 8.3 + 9.8 + 0 = 35.3

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

17.2/35Growth & earnings

Revenue — · PAT — · OPM change 0.3 pp

45% evidence

8.3/25Capital efficiency

ROCE 0.4% · debt/equity 0.82×

80% evidence

9.8/20Valuation

P/E 35.4× · PEG —

15% evidence

0.0/20Relative strength

RS sector -26.3% · RS bench -23.3% · 1Y 52.5%

100% evidence

24. Expro Group Holdings N.V. · XPRO

35.2/100 · Mixed-negative evidence · 66% evidence

Exact sum: 9.6 + 9.2 + 9.6 + 6.8 = 35.2

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

9.6/35Growth & earnings

Revenue -8% · PAT -45.6% · OPM change -1.7 pp

83% evidence

9.2/25Capital efficiency

ROCE 0.2% · debt/equity 0.11×

80% evidence

9.6/20Valuation

P/E 54.4× · PEG —

15% evidence

6.8/20Relative strength

RS sector -9.4% · RS bench -2.4% · 1Y 46.4%

70% evidence

25. Helix Energy Solutions Group, Inc. · HLX

35.0/100 · Mixed-negative evidence · 66% evidence

Exact sum: 6.9 + 7.3 + 8.7 + 12.1 = 35

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

6.9/35Growth & earnings

Revenue -2.9% · PAT -83.5% · OPM change -7.5 pp

83% evidence

7.3/25Capital efficiency

ROCE -0.6% · debt/equity 0.4×

80% evidence

8.7/20Valuation

P/E 98.9× · PEG —

15% evidence

12.1/20Relative strength

RS sector 0.2% · RS bench 6.8% · 1Y 55.3%

70% evidence

26. ProPetro Holding Corp. · PUMP

31.5/100 · Thin evidence · provisional · 59% evidence

Exact sum: 9 + 8.2 + 8.6 + 5.7 = 31.5

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

9.0/35Growth & earnings

Revenue -15.5% · PAT — · OPM change -5.6 pp

62% evidence

8.2/25Capital efficiency

ROCE -0.7% · debt/equity 0.19×

80% evidence

8.6/20Valuation

P/E 951× · PEG —

15% evidence

5.7/20Relative strength

RS sector -11.1% · RS bench -8% · 1Y 110.3%

70% evidence

27. Atlas Energy Solutions Inc. · AESI

21.8/100 · Adverse evidence · 72% evidence

Exact sum: 5 + 6.8 + 8.8 + 1.2 = 21.8

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

5.0/35Growth & earnings

Revenue -8.3% · PAT -391.2% · OPM change -17.4 pp

83% evidence

6.8/25Capital efficiency

ROCE -1.6% · debt/equity 0.59×

80% evidence

8.8/20Valuation

P/E 95.5× · PEG —

15% evidence

1.2/20Relative strength

RS sector -23.3% · RS bench -17.7% · 1Y -12.2%

100% evidence

28. EagleRock Land, LLC · EROK

51.9/100 · Thin evidence · provisional · 17% evidence

Exact sum: 18.1 + 13.8 + 10 + 10 = 51.9

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

18.1/35Growth & earnings

Revenue — · PAT — · OPM change 18.2 pp

7% evidence

13.8/25Capital efficiency

ROCE 7.2% · debt/equity —

57% evidence

10.0/20Valuation

P/E — · PEG —

0% evidence

10.0/20Relative strength

RS sector — · RS bench — · 1Y —

0% evidence

29. WaterBridge Infrastructure LLC · WBI

46.8/100 · Thin evidence · provisional · 37% evidence

Exact sum: 18.1 + 10.2 + 8.5 + 10 = 46.8

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

18.1/35Growth & earnings

Revenue — · PAT — · OPM change -0.9 pp

39% evidence

10.2/25Capital efficiency

ROCE 1.3% · debt/equity 0.79×

80% evidence

8.5/20Valuation

P/E 1040.6× · PEG —

15% evidence

10.0/20Relative strength

RS sector — · RS bench — · 1Y —

0% evidence

30. NextDecade Corporation · NEXT

37.9/100 · Thin evidence · provisional · 49% evidence

Exact sum: 18.1 + 4.8 + 10 + 5 = 37.9

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

18.1/35Growth & earnings

Revenue — · PAT — · OPM change —

33% evidence

4.8/25Capital efficiency

ROCE -0.6% · debt/equity 4.01×

68% evidence

10.0/20Valuation

P/E — · PEG —

0% evidence

5.0/20Relative strength

RS sector -25.7% · RS bench -18.1% · 1Y -44.7%

100% evidence

01 · compare level, then change

Revenue Scale & Growth Durability

Baker Hughes Company has the highest Revenue among the 30 Oil & Gas Equipment & Services companies compared here, at $27,893 million. Tenaris S.A. is next at $12,159 million. Solaris Energy Infrastructure, Inc. has the highest Revenue growth at 86.5%, so level and change sit with different companies. Its Revenue series carries 19 reported observations across the 20-quarter window.

What the numbers say: Baker Hughes Company is the scale leader at $27,893 million, 129.4% ahead of Tenaris S.A.. Solaris Energy Infrastructure, Inc.'s growth is 86.5% from a $692 million base, with 19 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderBaker Hughes Company · $27,893 million

Gap129.4% versus #2 · Tenaris S.A.

Persistence7/8 recent comparable periods

Coverage22/30 companies · 496 observations

Investor read: Baker Hughes Company is the scale benchmark; Solaris Energy Infrastructure, Inc. is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Baker Hughes Company's growth falls below Solaris Energy Infrastructure, Inc.'s for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

Revenuelargest

1Baker Hughes Company BKR$27.9B

2Tenaris S.A. TS$12.2B

3TechnipFMC plc FTI$10.2B

4NOV Inc. NOV$8.7B

5Enerflex Ltd. EFXT$2.6B

Revenue growthfastest growers

1Solaris Energy Infrastructure, Inc. SEI87%

2LandBridge Company LLC LB55%

3RPC, Inc. RES28%

4Innovex International, Inc. INVX26%

5Archrock, Inc. AROC23%

Revenue · company comparison

22/30 level · 22/30 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Revenue	Revenue growth	Reported
SLB N.V. SLB	$8.7B	2.7%	Jun 2026
Baker Hughes Company BKR	$6.6B	2.5%	Mar 2026
Halliburton Company HAL	$5.4B	-0.3%	Jun 2026
Tenaris S.A. TS	$3.1B	6.1%	Mar 2026
TechnipFMC plc FTI	$2.5B	12%	Mar 2026
NOV Inc. NOV	$2.1B	-2.4%	Mar 2026
Weatherford International plc WFRD	$1.2B	-3.4%	Jun 2026
Liberty Energy Inc. LBRT	$1.0B	4.5%	Jun 2026
Oceaneering International, Inc. OII	$692M	2.5%	Jun 2026
Enerflex Ltd. EFXT	$584M	5.8%	Mar 2026
RPC, Inc. RES	$455M	37%	Mar 2026
National Energy Services Reunited Corp. NESR	$405M	34%	Mar 2026
Bristow Group Inc. VTOL	$389M	11%	Mar 2026
Cactus, Inc. WHD	$388M	39%	Mar 2026
Archrock, Inc. AROC	$374M	7.8%	Mar 2026
Expro Group Holdings N.V. XPRO	$368M	-5.9%	Mar 2026
Select Water Solutions, Inc. WTTR	$366M	-2.1%	Mar 2026
Kodiak Gas Services, Inc. KGS	$346M	4.9%	Mar 2026
USA Compression Partners, LP USAC	$331M	35%	Mar 2026
Tidewater Inc. TDW	$326M	-2.1%	Mar 2026
Helix Energy Solutions Group, Inc. HLX	$288M	3.6%	Mar 2026
ProPetro Holding Corp. PUMP	$271M	-25%	Mar 2026
Atlas Energy Solutions Inc. AESI	$266M	-11%	Mar 2026
Innovex International, Inc. INVX	$239M	-0.4%	Mar 2026
Flowco Holdings Inc. FLOC	$210M	9.4%	Mar 2026
WaterBridge Infrastructure LLC WBI	$201M	105%	Mar 2026
Solaris Energy Infrastructure, Inc. SEI	$196M	56%	Mar 2026
LandBridge Company LLC LB	$51M	16%	Mar 2026
EagleRock Land, LLC EROK	$23M	229%	Mar 2026

Full 20-quarter history · every available company

Revenue · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Archrock, Inc. · AROC

Sep 2021$195M

Dec 2021$195M

Mar 2022$197M

Jun 2022$216M

Sep 2022$214M

Dec 2022$219M

Mar 2023$230M

Jun 2023$248M

Sep 2023$253M

Dec 2023$260M

Mar 2024$268M

Jun 2024$271M

Sep 2024$292M

Dec 2024$326M

Mar 2025$347M

Jun 2025$383M

Sep 2025$382M

Dec 2025$377M

Mar 2026$374M

Jun 2026—

Baker Hughes Company · BKR

Sep 2021$5.1B

Dec 2021$5.5B

Mar 2022$4.8B

Jun 2022$5.0B

Sep 2022$5.4B

Dec 2022$5.9B

Mar 2023$5.7B

Jun 2023$6.3B

Sep 2023$6.6B

Dec 2023$6.8B

Mar 2024$6.4B

Jun 2024$7.1B

Sep 2024$6.9B

Dec 2024$7.4B

Mar 2025$6.4B

Jun 2025$6.9B

Sep 2025$7.0B

Dec 2025$7.4B

Mar 2026$6.6B

Jun 2026—

Cactus, Inc. · WHD

Sep 2021$115M

Dec 2021$130M

Mar 2022$146M

Jun 2022$170M

Sep 2022$184M

Dec 2022$188M

Mar 2023$228M

Jun 2023$306M

Sep 2023$288M

Dec 2023$275M

Mar 2024$274M

Jun 2024$290M

Sep 2024$293M

Dec 2024$272M

Mar 2025$280M

Jun 2025$274M

Sep 2025$264M

Dec 2025$261M

Mar 2026$388M

Jun 2026—

Halliburton Company · HAL

Sep 2021$3.9B

Dec 2021$4.3B

Mar 2022$4.3B

Jun 2022$5.1B

Sep 2022$5.4B

Dec 2022$5.6B

Mar 2023$5.7B

Jun 2023$5.8B

Sep 2023$5.8B

Dec 2023$5.7B

Mar 2024$5.8B

Jun 2024$5.8B

Sep 2024$5.7B

Dec 2024$5.6B

Mar 2025$5.4B

Jun 2025$5.5B

Sep 2025$5.6B

Dec 2025$5.7B

Mar 2026$5.4B

Jun 2026—

Kodiak Gas Services, Inc. · KGS

Sep 2021—

Dec 2021—

Mar 2022$168M

Jun 2022$177M

Sep 2022$183M

Dec 2022$180M

Mar 2023$190M

Jun 2023$203M

Sep 2023$231M

Dec 2023$226M

Mar 2024$215M

Jun 2024$310M

Sep 2024$325M

Dec 2024$310M

Mar 2025$330M

Jun 2025$323M

Sep 2025$323M

Dec 2025$333M

Mar 2026$346M

Jun 2026—

LandBridge Company LLC · LB

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022$16M

Mar 2023$16M

Jun 2023$22M

Sep 2023$18M

Dec 2023$17M

Mar 2024$19M

Jun 2024$26M

Sep 2024$28M

Dec 2024$36M

Mar 2025$44M

Jun 2025$48M

Sep 2025$51M

Dec 2025$57M

Mar 2026$51M

Jun 2026—

NOV Inc. · NOV

Sep 2021$1.3B

Dec 2021$1.5B

Mar 2022$1.5B

Jun 2022$1.7B

Sep 2022$1.9B

Dec 2022$2.1B

Mar 2023$2.0B

Jun 2023$2.1B

Sep 2023$2.2B

Dec 2023$2.3B

Mar 2024$2.2B

Jun 2024$2.2B

Sep 2024$2.2B

Dec 2024$2.3B

Mar 2025$2.1B

Jun 2025$2.2B

Sep 2025$2.2B

Dec 2025$2.3B

Mar 2026$2.1B

Jun 2026—

Oceaneering International, Inc. · OII

Sep 2021$467M

Dec 2021$467M

Mar 2022$446M

Jun 2022$524M

Sep 2022$560M

Dec 2022$536M

Mar 2023$537M

Jun 2023$598M

Sep 2023$635M

Dec 2023$655M

Mar 2024$599M

Jun 2024$669M

Sep 2024$680M

Dec 2024$713M

Mar 2025$675M

Jun 2025$698M

Sep 2025$743M

Dec 2025$669M

Mar 2026$692M

Jun 2026—

SLB N.V. · SLB

Sep 2021$5.8B

Dec 2021$6.2B

Mar 2022$6.0B

Jun 2022$6.8B

Sep 2022$7.5B

Dec 2022$7.9B

Mar 2023$7.7B

Jun 2023$8.1B

Sep 2023$8.3B

Dec 2023$9.0B

Mar 2024$8.7B

Jun 2024$9.1B

Sep 2024$9.2B

Dec 2024$9.3B

Mar 2025$8.5B

Jun 2025$8.5B

Sep 2025$8.9B

Dec 2025$9.7B

Mar 2026$8.7B

Jun 2026—

TechnipFMC plc · FTI

Sep 2021$1.6B

Dec 2021$1.5B

Mar 2022$1.6B

Jun 2022$1.7B

Sep 2022$1.7B

Dec 2022$1.7B

Mar 2023$1.7B

Jun 2023$2.0B

Sep 2023$2.1B

Dec 2023$2.1B

Mar 2024$2.0B

Jun 2024$2.3B

Sep 2024$2.3B

Dec 2024$2.4B

Mar 2025$2.2B

Jun 2025$2.5B

Sep 2025$2.6B

Dec 2025$2.5B

Mar 2026$2.5B

Jun 2026—

Tenaris S.A. · TS

Sep 2021$1.8B

Dec 2021$2.1B

Mar 2022$2.4B

Jun 2022$2.8B

Sep 2022$3.0B

Dec 2022$3.6B

Mar 2023$4.1B

Jun 2023$4.1B

Sep 2023$3.2B

Dec 2023$3.4B

Mar 2024$3.4B

Jun 2024$3.3B

Sep 2024$2.9B

Dec 2024$2.8B

Mar 2025$2.9B

Jun 2025$3.1B

Sep 2025$3.0B

Dec 2025$3.0B

Mar 2026$3.1B

Jun 2026—

Weatherford International plc · WFRD

Sep 2021$945M

Dec 2021$965M

Mar 2022$938M

Jun 2022$1.1B

Sep 2022$1.1B

Dec 2022$1.2B

Mar 2023$1.2B

Jun 2023$1.3B

Sep 2023$1.3B

Dec 2023$1.4B

Mar 2024$1.4B

Jun 2024$1.4B

Sep 2024$1.4B

Dec 2024$1.3B

Mar 2025$1.2B

Jun 2025$1.2B

Sep 2025$1.2B

Dec 2025$1.3B

Mar 2026$1.2B

Jun 2026—

Revenue growth · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Archrock, Inc. · AROC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202210%

Sep 20229.7%

Dec 202212%

Mar 202317%

Jun 202315%

Sep 202318%

Dec 202319%

Mar 202417%

Jun 20249.3%

Sep 202415%

Dec 202425%

Mar 202529%

Jun 202541%

Sep 202531%

Dec 202516%

Mar 20267.8%

Jun 2026—

Baker Hughes Company · BKR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-1.9%

Sep 20225.4%

Dec 20227.7%

Mar 202318%

Jun 202325%

Sep 202324%

Dec 202316%

Mar 202412%

Jun 202413%

Sep 20244.0%

Dec 20247.7%

Mar 20250.1%

Jun 2025-3.2%

Sep 20251.5%

Dec 20250.3%

Mar 20262.5%

Jun 2026—

Cactus, Inc. · WHD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202256%

Sep 202260%

Dec 202245%

Mar 202356%

Jun 202380%

Sep 202357%

Dec 202346%

Mar 202420%

Jun 2024-5.2%

Sep 20241.7%

Dec 2024-1.1%

Mar 20252.2%

Jun 2025-5.5%

Sep 2025-9.9%

Dec 2025-4.0%

Mar 202639%

Jun 2026—

Halliburton Company · HAL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202237%

Sep 202239%

Dec 202231%

Mar 202333%

Jun 202314%

Sep 20238.3%

Dec 20232.8%

Mar 20242.2%

Jun 20240.6%

Sep 2024-1.8%

Dec 2024-2.3%

Mar 2025-6.7%

Jun 2025-5.5%

Sep 2025-1.7%

Dec 20250.8%

Mar 2026-0.3%

Jun 2026—

Kodiak Gas Services, Inc. · KGS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 202313%

Jun 202315%

Sep 202326%

Dec 202326%

Mar 202413%

Jun 202453%

Sep 202441%

Dec 202437%

Mar 202553%

Jun 20254.2%

Sep 2025-0.6%

Dec 20257.4%

Mar 20264.9%

Jun 2026—

LandBridge Company LLC · LB

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 20236.3%

Mar 202419%

Jun 202418%

Sep 202456%

Dec 2024112%

Mar 2025132%

Jun 202585%

Sep 202582%

Dec 202558%

Mar 202616%

Jun 2026—

NOV Inc. · NOV

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202222%

Sep 202241%

Dec 202237%

Mar 202327%

Jun 202321%

Sep 202316%

Dec 202313%

Mar 20249.8%

Jun 20245.9%

Sep 20240.3%

Dec 2024-1.5%

Mar 2025-2.4%

Jun 2025-1.3%

Sep 2025-0.7%

Dec 2025-1.3%

Mar 2026-2.4%

Jun 2026—

Oceaneering International, Inc. · OII

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20225.2%

Sep 202220%

Dec 202215%

Mar 202320%

Jun 202314%

Sep 202313%

Dec 202322%

Mar 202412%

Jun 202412%

Sep 20247.1%

Dec 20248.9%

Mar 202513%

Jun 20254.3%

Sep 20259.3%

Dec 2025-6.2%

Mar 20262.5%

Jun 2026—

SLB N.V. · SLB

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202220%

Sep 202228%

Dec 202227%

Mar 202330%

Jun 202320%

Sep 202311%

Dec 202314%

Mar 202413%

Jun 202413%

Sep 202410%

Dec 20243.3%

Mar 2025-2.5%

Jun 2025-6.5%

Sep 2025-2.5%

Dec 20255.0%

Mar 20262.7%

Jun 2026—

TechnipFMC plc · FTI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20222.9%

Sep 20229.8%

Dec 202211%

Mar 202310%

Jun 202315%

Sep 202319%

Dec 202323%

Mar 202419%

Jun 202418%

Sep 202414%

Dec 202414%

Mar 20259.4%

Jun 20259.0%

Sep 202513%

Dec 20256.3%

Mar 202612%

Jun 2026—

Tenaris S.A. · TS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202283%

Sep 202270%

Dec 202276%

Mar 202375%

Jun 202346%

Sep 20238.8%

Dec 2023-5.7%

Mar 2024-17%

Jun 2024-18%

Sep 2024-10.0%

Dec 2024-17%

Mar 2025-15%

Jun 2025-7.1%

Sep 20252.2%

Dec 20255.3%

Mar 20266.1%

Jun 2026—

Weatherford International plc · WFRD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202218%

Sep 202219%

Dec 202225%

Mar 202326%

Jun 202320%

Sep 202317%

Dec 202313%

Mar 202415%

Jun 202410%

Sep 20247.3%

Dec 2024-1.5%

Mar 2025-12%

Jun 2025-14%

Sep 2025-13%

Dec 2025-3.9%

Mar 2026-3.4%

Jun 2026—

02 · compare level, then change

Operating Economics & Margin Trend

LandBridge Company LLC has the highest OPM among the 30 Oil & Gas Equipment & Services companies compared here, at 57.2%. EagleRock Land, LLC is next at 40.9%. EagleRock Land, LLC has the highest Margin change at +18.2 percentage points, so level and change sit with different companies. Its OPM series carries 14 reported observations across the 20-quarter window.

What the numbers say: LandBridge Company LLC leads opm at 57.2%; EagleRock Land, LLC leads margin change at +18.2 percentage points.

LeaderLandBridge Company LLC · 57.2%

Gap39.9% versus #2 · EagleRock Land, LLC

Persistence5/8 recent comparable periods

Coverage29/30 companies · 496 observations

Investor read: LandBridge Company LLC sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

OPMhighest

1LandBridge Company LLC LB57%

2EagleRock Land, LLC EROK41%

3Archrock, Inc. AROC34%

4Kodiak Gas Services, Inc. KGS31%

5USA Compression Partners, LP USAC28%

Margin changefastest expanders

1EagleRock Land, LLC EROK+18.2 pp

2Baker Hughes Company BKR+11.1 pp

3Solaris Energy Infrastructure, Inc. SEI+8.3 pp

4Halliburton Company HAL+4.6 pp

5Kodiak Gas Services, Inc. KGS+3.8 pp

Operating margin · company comparison

29/30 level · 29/30 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	OPM	Margin change	Reported
LandBridge Company LLC LB	57%	+0.2 pp	Mar 2026
EagleRock Land, LLC EROK	41%	+18.2 pp	Mar 2026
Archrock, Inc. AROC	34%	−1.3 pp	Mar 2026
Kodiak Gas Services, Inc. KGS	31%	+3.8 pp	Mar 2026
USA Compression Partners, LP USAC	28%	−0.7 pp	Mar 2026
Solaris Energy Infrastructure, Inc. SEI	26%	+8.3 pp	Mar 2026
Baker Hughes Company BKR	21%	+11.1 pp	Mar 2026
Tenaris S.A. TS	19%	0.0 pp	Mar 2026
Tidewater Inc. TDW	18%	−4.4 pp	Mar 2026
Flowco Holdings Inc. FLOC	17%	−1.1 pp	Mar 2026
WaterBridge Infrastructure LLC WBI	15%	−0.9 pp	Mar 2026
TechnipFMC plc FTI	14%	+2.4 pp	Mar 2026
Cactus, Inc. WHD	13%	−11.8 pp	Mar 2026
Halliburton Company HAL	13%	+4.6 pp	Jun 2026
SLB N.V. SLB	12%	−1.5 pp	Jun 2026
Enerflex Ltd. EFXT	12%	−1.3 pp	Mar 2026
Weatherford International plc WFRD	11%	−1.2 pp	Jun 2026
National Energy Services Reunited Corp. NESR	8.9%	+2.0 pp	Mar 2026
Bristow Group Inc. VTOL	8.9%	−0.7 pp	Mar 2026
Oceaneering International, Inc. OII	8.3%	−2.6 pp	Jun 2026
Select Water Solutions, Inc. WTTR	4.9%	+0.7 pp	Mar 2026
NOV Inc. NOV	2.3%	−4.9 pp	Mar 2026
Liberty Energy Inc. LBRT	2.2%	+0.3 pp	Jun 2026
Expro Group Holdings N.V. XPRO	0.9%	−1.7 pp	Mar 2026
RPC, Inc. RES	0.6%	−3.1 pp	Mar 2026
ProPetro Holding Corp. PUMP	-3.0%	−5.6 pp	Mar 2026
Helix Energy Solutions Group, Inc. HLX	-4.6%	−7.5 pp	Mar 2026
Innovex International, Inc. INVX	-9.1%	−18.2 pp	Mar 2026
Atlas Energy Solutions Inc. AESI	-12%	−17.4 pp	Mar 2026

Full 20-quarter history · every available company

OPM · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Archrock, Inc. · AROC

Sep 202112%

Dec 202113%

Mar 202213%

Jun 202215%

Sep 202215%

Dec 202215%

Mar 202320%

Jun 202326%

Sep 202327%

Dec 202326%

Mar 202429%

Jun 202428%

Sep 202429%

Dec 202432%

Mar 202535%

Jun 202532%

Sep 202537%

Dec 202543%

Mar 202634%

Jun 2026—

Baker Hughes Company · BKR

Sep 20217.4%

Dec 202111%

Mar 20225.8%

Jun 2022-0.5%

Sep 20225.0%

Dec 202211%

Mar 20237.7%

Jun 20238.1%

Sep 202311%

Dec 202312%

Mar 202411%

Jun 202412%

Sep 202415%

Dec 202415%

Mar 20259.5%

Jun 202515%

Sep 202513%

Dec 202511%

Mar 202621%

Jun 2026—

Cactus, Inc. · WHD

Sep 202118%

Dec 202120%

Mar 202221%

Jun 202226%

Sep 202228%

Dec 202226%

Mar 202322%

Jun 202316%

Sep 202330%

Dec 202329%

Mar 202423%

Jun 202428%

Sep 202426%

Dec 202426%

Mar 202525%

Jun 202522%

Sep 202523%

Dec 202523%

Mar 202613%

Jun 2026—

Halliburton Company · HAL

Sep 202112%

Dec 202113%

Mar 202212%

Jun 20227.4%

Sep 202216%

Dec 202218%

Mar 202317%

Jun 202317%

Sep 202318%

Dec 202318%

Mar 202417%

Jun 202418%

Sep 202415%

Dec 202417%

Mar 20258.0%

Jun 202513%

Sep 20256.4%

Dec 202513%

Mar 202613%

Jun 2026—

Kodiak Gas Services, Inc. · KGS

Sep 2021—

Dec 2021—

Mar 202232%

Jun 202229%

Sep 202232%

Dec 202232%

Mar 202332%

Jun 202331%

Sep 202326%

Dec 202327%

Mar 202428%

Jun 202418%

Sep 202420%

Dec 202422%

Mar 202527%

Jun 202531%

Sep 202520%

Dec 202526%

Mar 202631%

Jun 2026—

LandBridge Company LLC · LB

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 202220%

Mar 20231.0%

Jun 2023209%

Sep 2023107%

Dec 202331%

Mar 202471%

Jun 2024-197%

Sep 202411%

Dec 202449%

Mar 202557%

Jun 202560%

Sep 202561%

Dec 202560%

Mar 202657%

Jun 2026—

NOV Inc. · NOV

Sep 2021-3.2%

Dec 2021-1.0%

Mar 2022-1.4%

Jun 20223.9%

Sep 20222.9%

Dec 20227.8%

Mar 20236.4%

Jun 20238.6%

Sep 20238.4%

Dec 20236.9%

Mar 20247.5%

Jun 202414%

Sep 20248.9%

Dec 20249.0%

Mar 20257.2%

Jun 20256.5%

Sep 20254.9%

Dec 20254.0%

Mar 20262.3%

Jun 2026—

Oceaneering International, Inc. · OII

Sep 20213.4%

Dec 2021-2.7%

Mar 2022-0.2%

Jun 20224.4%

Sep 20228.4%

Dec 20227.9%

Mar 20235.0%

Jun 20238.2%

Sep 20239.1%

Dec 20237.2%

Mar 20246.1%

Jun 20249.0%

Sep 202411%

Dec 202411%

Mar 202511%

Jun 202511%

Sep 202512%

Dec 20259.8%

Mar 20268.3%

Jun 2026—

SLB N.V. · SLB

Sep 202113%

Dec 202113%

Mar 202212%

Jun 202214%

Sep 202216%

Dec 202216%

Mar 202315%

Jun 202317%

Sep 202318%

Dec 202316%

Mar 202416%

Jun 202416%

Sep 202417%

Dec 202415%

Mar 202513%

Jun 202514%

Sep 202512%

Dec 202510%

Mar 202612%

Jun 2026—

TechnipFMC plc · FTI

Sep 20212.3%

Dec 2021-2.4%

Mar 20220.7%

Jun 20224.5%

Sep 20224.7%

Dec 20221.7%

Mar 20233.0%

Jun 20238.0%

Sep 20237.8%

Dec 20236.7%

Mar 20247.8%

Jun 202413%

Sep 202412%

Dec 20249.1%

Mar 202512%

Jun 202515%

Sep 202515%

Dec 20258.8%

Mar 202614%

Jun 2026—

Tenaris S.A. · TS

Sep 202113%

Dec 202113%

Mar 202221%

Jun 202224%

Sep 202227%

Dec 202228%

Mar 202333%

Jun 202331%

Sep 202327%

Dec 202324%

Mar 202424%

Jun 202415%

Sep 202418%

Dec 202420%

Mar 202519%

Jun 202519%

Sep 202520%

Dec 202519%

Mar 202619%

Jun 2026—

Weatherford International plc · WFRD

Sep 20217.5%

Dec 20213.4%

Mar 20221.9%

Jun 20229.8%

Sep 202211%

Dec 202214%

Mar 202316%

Jun 202316%

Sep 202317%

Dec 202316%

Mar 202417%

Jun 202419%

Sep 202417%

Dec 202415%

Mar 202512%

Jun 202520%

Sep 202514%

Dec 202515%

Mar 202611%

Jun 2026—

Margin change · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Archrock, Inc. · AROC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−1.8 pp

Sep 2022+2.7 pp

Dec 2022+2.0 pp

Mar 2023+7.0 pp

Jun 2023+10.8 pp

Sep 2023+11.7 pp

Dec 2023+10.7 pp

Mar 2024+9.2 pp

Jun 2024+2.0 pp

Sep 2024+2.2 pp

Dec 2024+6.2 pp

Mar 2025+5.8 pp

Jun 2025+3.8 pp

Sep 2025+8.1 pp

Dec 2025+10.2 pp

Mar 2026−1.3 pp

Jun 2026—

Baker Hughes Company · BKR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−4.3 pp

Sep 2022−2.4 pp

Dec 2022+0.7 pp

Mar 2023+1.9 pp

Jun 2023+8.6 pp

Sep 2023+5.8 pp

Dec 2023+0.4 pp

Mar 2024+2.9 pp

Jun 2024+4.1 pp

Sep 2024+4.6 pp

Dec 2024+3.4 pp

Mar 2025−1.1 pp

Jun 2025+2.6 pp

Sep 2025−2.9 pp

Dec 2025−4.1 pp

Mar 2026+11.1 pp

Jun 2026—

Cactus, Inc. · WHD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+10.1 pp

Sep 2022+9.8 pp

Dec 2022+5.9 pp

Mar 2023+0.6 pp

Jun 2023−10.1 pp

Sep 2023+2.6 pp

Dec 2023+2.9 pp

Mar 2024+1.0 pp

Jun 2024+11.6 pp

Sep 2024−4.2 pp

Dec 2024−2.7 pp

Mar 2025+1.7 pp

Jun 2025−5.3 pp

Sep 2025−3.0 pp

Dec 2025−3.0 pp

Mar 2026−11.8 pp

Jun 2026—

Halliburton Company · HAL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−4.3 pp

Sep 2022+4.2 pp

Dec 2022+4.6 pp

Mar 2023+5.3 pp

Jun 2023+10.0 pp

Sep 2023+2.1 pp

Dec 2023+0.9 pp

Mar 2024−0.2 pp

Jun 2024+0.3 pp

Sep 2024−2.6 pp

Dec 2024−1.8 pp

Mar 2025−9.0 pp

Jun 2025−4.5 pp

Sep 2025−8.9 pp

Dec 2025−3.4 pp

Mar 2026+4.6 pp

Jun 2026—

Kodiak Gas Services, Inc. · KGS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023−0.6 pp

Jun 2023+1.2 pp

Sep 2023−5.5 pp

Dec 2023−5.1 pp

Mar 2024−3.8 pp

Jun 2024−13.0 pp

Sep 2024−6.0 pp

Dec 2024−4.6 pp

Mar 2025−0.8 pp

Jun 2025+13.4 pp

Sep 2025−0.5 pp

Dec 2025+3.8 pp

Mar 2026+3.8 pp

Jun 2026—

LandBridge Company LLC · LB

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023+11.3 pp

Mar 2024+70.1 pp

Jun 2024−406.0 pp

Sep 2024−96.1 pp

Dec 2024+18.3 pp

Mar 2025−14.1 pp

Jun 2025+257.4 pp

Sep 2025+49.6 pp

Dec 2025+10.6 pp

Mar 2026+0.2 pp

Jun 2026—

NOV Inc. · NOV

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+3.1 pp

Sep 2022+6.1 pp

Dec 2022+8.8 pp

Mar 2023+7.8 pp

Jun 2023+4.7 pp

Sep 2023+5.5 pp

Dec 2023−0.9 pp

Mar 2024+1.1 pp

Jun 2024+5.5 pp

Sep 2024+0.5 pp

Dec 2024+2.1 pp

Mar 2025−0.3 pp

Jun 2025−7.6 pp

Sep 2025−4.0 pp

Dec 2025−5.0 pp

Mar 2026−4.9 pp

Jun 2026—

Oceaneering International, Inc. · OII

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−0.2 pp

Sep 2022+5.0 pp

Dec 2022+10.6 pp

Mar 2023+5.2 pp

Jun 2023+3.8 pp

Sep 2023+0.7 pp

Dec 2023−0.7 pp

Mar 2024+1.1 pp

Jun 2024+0.8 pp

Sep 2024+1.4 pp

Dec 2024+3.7 pp

Mar 2025+4.8 pp

Jun 2025+2.3 pp

Sep 2025+1.1 pp

Dec 2025−1.1 pp

Mar 2026−2.6 pp

Jun 2026—

SLB N.V. · SLB

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+2.4 pp

Sep 2022+2.7 pp

Dec 2022+3.0 pp

Mar 2023+3.4 pp

Jun 2023+2.3 pp

Sep 2023+1.7 pp

Dec 2023−0.1 pp

Mar 2024+0.6 pp

Jun 2024−0.4 pp

Sep 2024−0.6 pp

Dec 2024−1.2 pp

Mar 2025−2.6 pp

Jun 2025−2.4 pp

Sep 2025−5.0 pp

Dec 2025−4.9 pp

Mar 2026−1.5 pp

Jun 2026—

TechnipFMC plc · FTI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+2.6 pp

Sep 2022+2.4 pp

Dec 2022+4.1 pp

Mar 2023+2.3 pp

Jun 2023+3.5 pp

Sep 2023+3.1 pp

Dec 2023+5.0 pp

Mar 2024+4.8 pp

Jun 2024+5.3 pp

Sep 2024+4.4 pp

Dec 2024+2.4 pp

Mar 2025+3.9 pp

Jun 2025+2.1 pp

Sep 2025+3.1 pp

Dec 2025−0.3 pp

Mar 2026+2.4 pp

Jun 2026—

Tenaris S.A. · TS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+13.8 pp

Sep 2022+13.8 pp

Dec 2022+14.7 pp

Mar 2023+12.1 pp

Jun 2023+7.7 pp

Sep 2023−0.2 pp

Dec 2023−4.0 pp

Mar 2024−9.0 pp

Jun 2024−16.0 pp

Sep 2024−8.4 pp

Dec 2024−4.4 pp

Mar 2025−4.8 pp

Jun 2025+3.5 pp

Sep 2025+1.6 pp

Dec 2025−1.1 pp

Mar 20260.0 pp

Jun 2026—

Weatherford International plc · WFRD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+7.0 pp

Sep 2022+3.3 pp

Dec 2022+10.6 pp

Mar 2023+13.7 pp

Jun 2023+6.0 pp

Sep 2023+5.8 pp

Dec 2023+1.9 pp

Mar 2024+1.6 pp

Jun 2024+3.0 pp

Sep 2024+0.6 pp

Dec 2024−1.1 pp

Mar 2025−5.3 pp

Jun 2025+0.9 pp

Sep 2025−2.8 pp

Dec 2025+0.6 pp

Mar 2026−1.2 pp

Jun 2026—

03 · compare level, then change

Profit Scale & Acceleration

Baker Hughes Company has the highest Net profit among the 30 Oil & Gas Equipment & Services companies compared here, at $3,153 million. Tenaris S.A. is next at $2,020 million. Solaris Energy Infrastructure, Inc. has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: Baker Hughes Company leads with $3,153 million of TTM profit, 56.1% above Tenaris S.A.. Solaris Energy Infrastructure, Inc. shows ≥100% on the scoring scale (120% uncapped) growth from a $77 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderBaker Hughes Company · $3,153 million

Gap56.1% versus #2 · Tenaris S.A.

Persistence5/8 recent comparable periods

Coverage23/30 companies · 515 observations

Investor read: Baker Hughes Company sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

Net profitlargest

1Baker Hughes Company BKR$3.2B

2Tenaris S.A. TS$2.0B

3TechnipFMC plc FTI$1.0B

4Archrock, Inc. AROC$325M

5Tidewater Inc. TDW$297M

Profit growthfastest growers

1Solaris Energy Infrastructure, Inc. SEI100%

2Tidewater Inc. TDW70%

3Archrock, Inc. AROC60%

4Flowco Holdings Inc. FLOC46%

5USA Compression Partners, LP USAC34%

Net profit · company comparison

23/30 level · 19/30 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Net profit	Profit growth	Reported
Baker Hughes Company BKR	$938M	129%	Mar 2026
SLB N.V. SLB	$761M	-8.2%	Jun 2026
Tenaris S.A. TS	$564M	8.9%	Mar 2026
Halliburton Company HAL	$464M	129%	Jun 2026
TechnipFMC plc FTI	$260M	82%	Mar 2026
Weatherford International plc WFRD	$109M	27%	Jun 2026
Archrock, Inc. AROC	$74M	4.2%	Mar 2026
Enerflex Ltd. EFXT	$43M	79%	Mar 2026
Cactus, Inc. WHD	$40M	-26%	Mar 2026
USA Compression Partners, LP USAC	$38M	81%	Mar 2026
Oceaneering International, Inc. OII	$36M	-28%	Jun 2026
Solaris Energy Infrastructure, Inc. SEI	$32M	146%	Mar 2026
Flowco Holdings Inc. FLOC	$27M	0.0%	Mar 2026
National Energy Services Reunited Corp. NESR	$24M	140%	Mar 2026
Liberty Energy Inc. LBRT	$23M	15%	Jun 2026
NOV Inc. NOV	$20M	-73%	Mar 2026
LandBridge Company LLC LB	$18M	20%	Mar 2026
Kodiak Gas Services, Inc. KGS	$18M	-42%	Mar 2026
Bristow Group Inc. VTOL	$13M	-52%	Mar 2026
WaterBridge Infrastructure LLC WBI	$10M	400%	Mar 2026
Tidewater Inc. TDW	$6M	-86%	Mar 2026
EagleRock Land, LLC EROK	$3M	—	Mar 2026
RPC, Inc. RES	$1M	-92%	Mar 2026
Select Water Solutions, Inc. WTTR	$0M	-600%	Mar 2026
Expro Group Holdings N.V. XPRO	$-1M	-107%	Mar 2026
ProPetro Holding Corp. PUMP	$-4M	-140%	Mar 2026
Helix Energy Solutions Group, Inc. HLX	$-13M	-533%	Mar 2026
Innovex International, Inc. INVX	$-17M	-213%	Mar 2026
Atlas Energy Solutions Inc. AESI	$-47M	-4,800%	Mar 2026
NextDecade Corporation NEXT	$-195M	-85%	Mar 2026

Full 20-quarter history · every available company

Net profit · reported quarter history

Showing the 12 largest of 30 companies with a series here. The remaining 18 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Archrock, Inc. · AROC

Sep 2021$9M

Dec 2021$6M

Mar 2022$2M

Jun 2022$17M

Sep 2022$15M

Dec 2022$10M

Mar 2023$16M

Jun 2023$25M

Sep 2023$31M

Dec 2023$33M

Mar 2024$41M

Jun 2024$34M

Sep 2024$38M

Dec 2024$60M

Mar 2025$71M

Jun 2025$63M

Sep 2025$71M

Dec 2025$117M

Mar 2026$74M

Jun 2026—

Baker Hughes Company · BKR

Sep 2021$16M

Dec 2021$336M

Mar 2022$80M

Jun 2022$-837M

Sep 2022$-9M

Dec 2022$188M

Mar 2023$581M

Jun 2023$414M

Sep 2023$524M

Dec 2023$451M

Mar 2024$463M

Jun 2024$581M

Sep 2024$774M

Dec 2024$1.2B

Mar 2025$409M

Jun 2025$711M

Sep 2025$617M

Dec 2025$887M

Mar 2026$938M

Jun 2026—

Cactus, Inc. · WHD

Sep 2021$17M

Dec 2021$20M

Mar 2022$27M

Jun 2022$36M

Sep 2022$42M

Dec 2022$41M

Mar 2023$52M

Jun 2023$32M

Sep 2023$68M

Dec 2023$62M

Mar 2024$50M

Jun 2024$63M

Sep 2024$62M

Dec 2024$57M

Mar 2025$54M

Jun 2025$49M

Sep 2025$50M

Dec 2025$48M

Mar 2026$40M

Jun 2026—

Halliburton Company · HAL

Sep 2021$240M

Dec 2021$827M

Mar 2022$264M

Jun 2022$117M

Sep 2022$549M

Dec 2022$665M

Mar 2023$655M

Jun 2023$616M

Sep 2023$724M

Dec 2023$667M

Mar 2024$609M

Jun 2024$713M

Sep 2024$580M

Dec 2024$614M

Mar 2025$203M

Jun 2025$480M

Sep 2025$20M

Dec 2025$589M

Mar 2026$464M

Jun 2026—

Kodiak Gas Services, Inc. · KGS

Sep 2021—

Dec 2021—

Mar 2022$28M

Jun 2022$9M

Sep 2022$46M

Dec 2022$2M

Mar 2023$-12M

Jun 2023$18M

Sep 2023$22M

Dec 2023$-7M

Mar 2024$30M

Jun 2024$7M

Sep 2024$-6M

Dec 2024$20M

Mar 2025$31M

Jun 2025$40M

Sep 2025$-14M

Dec 2025$25M

Mar 2026$18M

Jun 2026—

LandBridge Company LLC · LB

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022$2M

Mar 2023$-1M

Jun 2023$45M

Sep 2023$17M

Dec 2023$3M

Mar 2024$11M

Jun 2024$-58M

Sep 2024$-3M

Dec 2024$8M

Mar 2025$15M

Jun 2025$18M

Sep 2025$20M

Dec 2025$18M

Mar 2026$18M

Jun 2026—

NOV Inc. · NOV

Sep 2021$-65M

Dec 2021$-43M

Mar 2022$-49M

Jun 2022$70M

Sep 2022$35M

Dec 2022$99M

Mar 2023$125M

Jun 2023$157M

Sep 2023$108M

Dec 2023$595M

Mar 2024$121M

Jun 2024$223M

Sep 2024$130M

Dec 2024$161M

Mar 2025$74M

Jun 2025$114M

Sep 2025$44M

Dec 2025$-81M

Mar 2026$20M

Jun 2026—

Oceaneering International, Inc. · OII

Sep 2021$-7M

Dec 2021$-39M

Mar 2022$-19M

Jun 2022$4M

Sep 2022$18M

Dec 2022$23M

Mar 2023$4M

Jun 2023$19M

Sep 2023$30M

Dec 2023$45M

Mar 2024$15M

Jun 2024$35M

Sep 2024$41M

Dec 2024$56M

Mar 2025$50M

Jun 2025$54M

Sep 2025$71M

Dec 2025$178M

Mar 2026$36M

Jun 2026—

SLB N.V. · SLB

Sep 2021$562M

Dec 2021$611M

Mar 2022$520M

Jun 2022$970M

Sep 2022$919M

Dec 2022$1.1B

Mar 2023$944M

Jun 2023$1.0B

Sep 2023$1.1B

Dec 2023$1.1B

Mar 2024$1.1B

Jun 2024$1.1B

Sep 2024$1.2B

Dec 2024$1.1B

Mar 2025$829M

Jun 2025$1.0B

Sep 2025$774M

Dec 2025$800M

Mar 2026$761M

Jun 2026—

TechnipFMC plc · FTI

Sep 2021$-39M

Dec 2021$-134M

Mar 2022$-34M

Jun 2022$8M

Sep 2022$11M

Dec 2022$-21M

Mar 2023$8M

Jun 2023$-96M

Sep 2023$94M

Dec 2023$13M

Mar 2024$161M

Jun 2024$186M

Sep 2024$278M

Dec 2024$245M

Mar 2025$143M

Jun 2025$268M

Sep 2025$311M

Dec 2025$193M

Mar 2026$260M

Jun 2026—

Tenaris S.A. · TS

Sep 2021$326M

Dec 2021$336M

Mar 2022$503M

Jun 2022$634M

Sep 2022$608M

Dec 2022$803M

Mar 2023$1.1B

Jun 2023$1.1B

Sep 2023$547M

Dec 2023$1.1B

Mar 2024$750M

Jun 2024$348M

Sep 2024$459M

Dec 2024$519M

Mar 2025$518M

Jun 2025$542M

Sep 2025$453M

Dec 2025$461M

Mar 2026$564M

Jun 2026—

Weatherford International plc · WFRD

Sep 2021$-89M

Dec 2021$-157M

Mar 2022$-74M

Jun 2022$12M

Sep 2022$37M

Dec 2022$76M

Mar 2023$81M

Jun 2023$90M

Sep 2023$131M

Dec 2023$147M

Mar 2024$123M

Jun 2024$137M

Sep 2024$166M

Dec 2024$124M

Mar 2025$86M

Jun 2025$145M

Sep 2025$87M

Dec 2025$139M

Mar 2026$109M

Jun 2026—

Profit growth · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Archrock, Inc. · AROC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202289%

Sep 202267%

Dec 202267%

Mar 2023700%

Jun 202347%

Sep 2023107%

Dec 2023230%

Mar 2024156%

Jun 202436%

Sep 202423%

Dec 202482%

Mar 202573%

Jun 202585%

Sep 202587%

Dec 202595%

Mar 20264.2%

Jun 2026—

Baker Hughes Company · BKR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022-156%

Dec 2022-44%

Mar 2023626%

Jun 2023—

Sep 2023—

Dec 2023140%

Mar 2024-20%

Jun 202440%

Sep 202448%

Dec 2024164%

Mar 2025-12%

Jun 202522%

Sep 2025-20%

Dec 2025-26%

Mar 2026129%

Jun 2026—

Cactus, Inc. · WHD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022140%

Sep 2022147%

Dec 2022105%

Mar 202393%

Jun 2023-11%

Sep 202362%

Dec 202351%

Mar 2024-3.9%

Jun 202497%

Sep 2024-8.8%

Dec 2024-8.1%

Mar 20258.0%

Jun 2025-22%

Sep 2025-19%

Dec 2025-16%

Mar 2026-26%

Jun 2026—

Halliburton Company · HAL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-49%

Sep 2022129%

Dec 2022-20%

Mar 2023148%

Jun 2023427%

Sep 202332%

Dec 20230.3%

Mar 2024-7.0%

Jun 202416%

Sep 2024-20%

Dec 2024-8.0%

Mar 2025-67%

Jun 2025-33%

Sep 2025-97%

Dec 2025-4.1%

Mar 2026129%

Jun 2026—

Kodiak Gas Services, Inc. · KGS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023-143%

Jun 2023100%

Sep 2023-52%

Dec 2023-450%

Mar 2024—

Jun 2024-61%

Sep 2024-127%

Dec 2024—

Mar 20253.3%

Jun 2025471%

Sep 2025—

Dec 202525%

Mar 2026-42%

Jun 2026—

LandBridge Company LLC · LB

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 202350%

Mar 2024—

Jun 2024-229%

Sep 2024-118%

Dec 2024167%

Mar 202536%

Jun 2025—

Sep 2025—

Dec 2025125%

Mar 202620%

Jun 2026—

NOV Inc. · NOV

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023124%

Sep 2023209%

Dec 2023501%

Mar 2024-3.2%

Jun 202442%

Sep 202420%

Dec 2024-73%

Mar 2025-39%

Jun 2025-49%

Sep 2025-66%

Dec 2025-150%

Mar 2026-73%

Jun 2026—

Oceaneering International, Inc. · OII

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-33%

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023375%

Sep 202367%

Dec 202396%

Mar 2024275%

Jun 202484%

Sep 202437%

Dec 202424%

Mar 2025233%

Jun 202554%

Sep 202573%

Dec 2025218%

Mar 2026-28%

Jun 2026—

SLB N.V. · SLB

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022119%

Sep 202264%

Dec 202277%

Mar 202382%

Jun 20237.9%

Sep 202324%

Dec 20236.1%

Mar 202416%

Jun 20249.4%

Sep 20247.2%

Dec 2024-2.7%

Mar 2025-25%

Jun 2025-8.5%

Sep 2025-36%

Dec 2025-28%

Mar 2026-8.2%

Jun 2026—

TechnipFMC plc · FTI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023-1,300%

Sep 2023755%

Dec 2023—

Mar 20241,913%

Jun 2024—

Sep 2024196%

Dec 20241,785%

Mar 2025-11%

Jun 202544%

Sep 202512%

Dec 2025-21%

Mar 202682%

Jun 2026—

Tenaris S.A. · TS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022119%

Sep 202287%

Dec 2022139%

Mar 2023124%

Jun 202379%

Sep 2023-10%

Dec 202343%

Mar 2024-34%

Jun 2024-69%

Sep 2024-16%

Dec 2024-55%

Mar 2025-31%

Jun 202556%

Sep 2025-1.3%

Dec 2025-11%

Mar 20268.9%

Jun 2026—

Weatherford International plc · WFRD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023650%

Sep 2023254%

Dec 202393%

Mar 202452%

Jun 202452%

Sep 202427%

Dec 2024-16%

Mar 2025-30%

Jun 20255.8%

Sep 2025-48%

Dec 202512%

Mar 202627%

Jun 2026—

04 · compare level, then change

Capacity Spending & Returns On It

NextDecade Corporation has the highest CAPEX among the 30 Oil & Gas Equipment & Services companies compared here, at $1,177 million. Solaris Energy Infrastructure, Inc. is next at $343 million. Solaris Energy Infrastructure, Inc. has the highest CAPEX intensity at 175%, so level and change sit with different companies. Its CAPEX series carries 19 reported observations across the 20-quarter window.

What the numbers say: NextDecade Corporation reports $1,177 million of CAPEX; Solaris Energy Infrastructure, Inc. has the highest covered intensity at 175%. Coverage is only 30 of 30 companies and 509 reported observations, so this is partial evidence—not a complete sector rank.

LeaderNextDecade Corporation · $1,177 million

Gap243.1% versus #2 · Solaris Energy Infrastructure, Inc.

PersistenceNot enough history

Coverage30/30 companies · 509 observations

Investor read: Use the CAPEX rank as a diligence queue. Verify commissioning, utilization, cash conversion and post-investment ROCE before treating spend as value creation.

This conclusion weakens if: CAPEX rises without higher utilization, operating cash flow or incremental returns.

CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.

CAPEXlargest spenders

1NextDecade Corporation NEXT$1.2B

2Solaris Energy Infrastructure, Inc. SEI$343M

3SLB N.V. SLB$343M

4Baker Hughes Company BKR$336M

5Halliburton Company HAL$235M

CAPEX intensityhighest reinvestment intensity

1Solaris Energy Infrastructure, Inc. SEI175%

2WaterBridge Infrastructure LLC WBI55%

3Kodiak Gas Services, Inc. KGS34%

4Archrock, Inc. AROC30%

5Select Water Solutions, Inc. WTTR21%

Capital expenditure · company comparison

30/30 level · 29/30 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	CAPEX	CAPEX intensity	Reported
NextDecade Corporation NEXT	$1.2B	—	Mar 2026
SLB N.V. SLB	$343M	3.9%	Jun 2026
Solaris Energy Infrastructure, Inc. SEI	$343M	175%	Mar 2026
Baker Hughes Company BKR	$336M	5.1%	Mar 2026
Halliburton Company HAL	$235M	3.6%	Jun 2026
Liberty Energy Inc. LBRT	$224M	15%	Jun 2026
Kodiak Gas Services, Inc. KGS	$118M	34%	Mar 2026
Archrock, Inc. AROC	$113M	30%	Mar 2026
WaterBridge Infrastructure LLC WBI	$111M	55%	Mar 2026
Tenaris S.A. TS	$109M	3.5%	Mar 2026
Select Water Solutions, Inc. WTTR	$78M	21%	Mar 2026
NOV Inc. NOV	$65M	3.2%	Mar 2026
TechnipFMC plc FTI	$56M	2.2%	Mar 2026
ProPetro Holding Corp. PUMP	$43M	16%	Mar 2026
Weatherford International plc WFRD	$42M	4.7%	Jun 2026
Bristow Group Inc. VTOL	$41M	11%	Mar 2026
National Energy Services Reunited Corp. NESR	$36M	8.9%	Mar 2026
RPC, Inc. RES	$32M	7.0%	Mar 2026
Atlas Energy Solutions Inc. AESI	$29M	11%	Mar 2026
Expro Group Holdings N.V. XPRO	$26M	7.1%	Mar 2026
Flowco Holdings Inc. FLOC	$26M	12%	Mar 2026
USA Compression Partners, LP USAC	$24M	7.3%	Mar 2026
Oceaneering International, Inc. OII	$23M	2.5%	Jun 2026
Enerflex Ltd. EFXT	$16M	2.7%	Mar 2026
Tidewater Inc. TDW	$15M	4.6%	Mar 2026
Cactus, Inc. WHD	$10M	2.6%	Mar 2026
Innovex International, Inc. INVX	$6M	2.5%	Mar 2026
Helix Energy Solutions Group, Inc. HLX	$3M	1.0%	Mar 2026
EagleRock Land, LLC EROK	$1M	4.3%	Mar 2026
LandBridge Company LLC LB	$0M	0.0%	Mar 2026

Full 20-quarter history · every available company

CAPEX · reported quarter history

Showing the 12 largest of 30 companies with a series here. The remaining 18 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Archrock, Inc. · AROC

Sep 2021$32M

Dec 2021$27M

Mar 2022$45M

Jun 2022$61M

Sep 2022$65M

Dec 2022$69M

Mar 2023$84M

Jun 2023$103M

Sep 2023$75M

Dec 2023$37M

Mar 2024$100M

Jun 2024$91M

Sep 2024$70M

Dec 2024$98M

Mar 2025$168M

Jun 2025$111M

Sep 2025$135M

Dec 2025$88M

Mar 2026$113M

Jun 2026—

Baker Hughes Company · BKR

Sep 2021$198M

Dec 2021$266M

Mar 2022$268M

Jun 2022$226M

Sep 2022$226M

Dec 2022$269M

Mar 2023$310M

Jun 2023$277M

Sep 2023$281M

Dec 2023$356M

Mar 2024$333M

Jun 2024$292M

Sep 2024$300M

Dec 2024$353M

Mar 2025$300M

Jun 2025$301M

Sep 2025$295M

Dec 2025$377M

Mar 2026$336M

Jun 2026—

Cactus, Inc. · WHD

Sep 2021$5M

Dec 2021$4M

Mar 2022$8M

Jun 2022$6M

Sep 2022$7M

Dec 2022$7M

Mar 2023$16M

Jun 2023$8M

Sep 2023$10M

Dec 2023$11M

Mar 2024$8M

Jun 2024$9M

Sep 2024$10M

Dec 2024$12M

Mar 2025$10M

Jun 2025$12M

Sep 2025$10M

Dec 2025$6M

Mar 2026$10M

Jun 2026—

Halliburton Company · HAL

Sep 2021$188M

Dec 2021$316M

Mar 2022$189M

Jun 2022$221M

Sep 2022$251M

Dec 2022$350M

Mar 2023$268M

Jun 2023$303M

Sep 2023$409M

Dec 2023$399M

Mar 2024$330M

Jun 2024$347M

Sep 2024$339M

Dec 2024$426M

Mar 2025$302M

Jun 2025$354M

Sep 2025$261M

Dec 2025$337M

Mar 2026$192M

Jun 2026$235M

Kodiak Gas Services, Inc. · KGS

Sep 2021—

Dec 2021—

Mar 2022$72M

Jun 2022$74M

Sep 2022$54M

Dec 2022$60M

Mar 2023$49M

Jun 2023$45M

Sep 2023$52M

Dec 2023$74M

Mar 2024$60M

Jun 2024$117M

Sep 2024$87M

Dec 2024$73M

Mar 2025$78M

Jun 2025$83M

Sep 2025$102M

Dec 2025$53M

Mar 2026$118M

Jun 2026—

LandBridge Company LLC · LB

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022$1M

Mar 2023—

Jun 2023$2M

Sep 2023$0M

Dec 2023$0M

Mar 2024$0M

Jun 2024$0M

Sep 2024$0M

Dec 2024$0M

Mar 2025$0M

Jun 2025$1M

Sep 2025$1M

Dec 2025$2M

Mar 2026$0M

Jun 2026—

NOV Inc. · NOV

Sep 2021$39M

Dec 2021$64M

Mar 2022$46M

Jun 2022$43M

Sep 2022$59M

Dec 2022$66M

Mar 2023$57M

Jun 2023$76M

Sep 2023$74M

Dec 2023$76M

Mar 2024$69M

Jun 2024$82M

Sep 2024$82M

Dec 2024$118M

Mar 2025$84M

Jun 2025$83M

Sep 2025$107M

Dec 2025$101M

Mar 2026$65M

Jun 2026—

Oceaneering International, Inc. · OII

Sep 2021$12M

Dec 2021$14M

Mar 2022$19M

Jun 2022$16M

Sep 2022$19M

Dec 2022$26M

Mar 2023$18M

Jun 2023$22M

Sep 2023$26M

Dec 2023$34M

Mar 2024$26M

Jun 2024$23M

Sep 2024$25M

Dec 2024$34M

Mar 2025$26M

Jun 2025$30M

Sep 2025$24M

Dec 2025$30M

Mar 2026$17M

Jun 2026$23M

SLB N.V. · SLB

Sep 2021$273M

Dec 2021$447M

Mar 2022$304M

Jun 2022$360M

Sep 2022$382M

Dec 2022$572M

Mar 2023$410M

Jun 2023$471M

Sep 2023$464M

Dec 2023$594M

Mar 2024$399M

Jun 2024$463M

Sep 2024$460M

Dec 2024$609M

Mar 2025$398M

Jun 2025$371M

Sep 2025$409M

Dec 2025$516M

Mar 2026$343M

Jun 2026—

TechnipFMC plc · FTI

Sep 2021$47M

Dec 2021$61M

Mar 2022$27M

Jun 2022$36M

Sep 2022$31M

Dec 2022$64M

Mar 2023$57M

Jun 2023$53M

Sep 2023$44M

Dec 2023$72M

Mar 2024$52M

Jun 2024$51M

Sep 2024$53M

Dec 2024$126M

Mar 2025$62M

Jun 2025$84M

Sep 2025$77M

Dec 2025$95M

Mar 2026$56M

Jun 2026—

Tenaris S.A. · TS

Sep 2021$73M

Dec 2021$69M

Mar 2022$85M

Jun 2022$76M

Sep 2022$115M

Dec 2022$121M

Mar 2023$117M

Jun 2023$163M

Sep 2023$172M

Dec 2023$166M

Mar 2024$169M

Jun 2024$175M

Sep 2024$184M

Dec 2024$177M

Mar 2025$161M

Jun 2025$154M

Sep 2025$180M

Dec 2025$115M

Mar 2026$109M

Jun 2026—

Weatherford International plc · WFRD

Sep 2021$20M

Dec 2021$41M

Mar 2022$20M

Jun 2022$24M

Sep 2022$39M

Dec 2022$49M

Mar 2023$64M

Jun 2023$36M

Sep 2023$42M

Dec 2023$67M

Mar 2024$59M

Jun 2024$62M

Sep 2024$78M

Dec 2024$60M

Mar 2025$77M

Jun 2025$54M

Sep 2025$44M

Dec 2025$51M

Mar 2026$54M

Jun 2026$42M

CAPEX intensity · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Archrock, Inc. · AROC

Sep 202116%

Dec 202114%

Mar 202223%

Jun 202228%

Sep 202230%

Dec 202232%

Mar 202337%

Jun 202342%

Sep 202330%

Dec 202314%

Mar 202437%

Jun 202434%

Sep 202424%

Dec 202430%

Mar 202548%

Jun 202529%

Sep 202535%

Dec 202523%

Mar 202630%

Jun 2026—

Baker Hughes Company · BKR

Sep 20213.9%

Dec 20214.8%

Mar 20225.5%

Jun 20224.5%

Sep 20224.2%

Dec 20224.6%

Mar 20235.4%

Jun 20234.4%

Sep 20234.2%

Dec 20235.2%

Mar 20245.2%

Jun 20244.1%

Sep 20244.3%

Dec 20244.8%

Mar 20254.7%

Jun 20254.4%

Sep 20254.2%

Dec 20255.1%

Mar 20265.1%

Jun 2026—

Cactus, Inc. · WHD

Sep 20214.3%

Dec 20213.1%

Mar 20225.5%

Jun 20223.5%

Sep 20223.8%

Dec 20223.7%

Mar 20237.0%

Jun 20232.6%

Sep 20233.5%

Dec 20234.0%

Mar 20242.9%

Jun 20243.1%

Sep 20243.4%

Dec 20244.4%

Mar 20253.6%

Jun 20254.4%

Sep 20253.8%

Dec 20252.3%

Mar 20262.6%

Jun 2026—

Halliburton Company · HAL

Sep 20214.9%

Dec 20217.4%

Mar 20224.4%

Jun 20224.4%

Sep 20224.7%

Dec 20226.3%

Mar 20234.7%

Jun 20235.2%

Sep 20237.0%

Dec 20237.0%

Mar 20245.7%

Jun 20245.9%

Sep 20246.0%

Dec 20247.6%

Mar 20255.6%

Jun 20256.4%

Sep 20254.7%

Dec 20256.0%

Mar 20263.6%

Jun 2026—

Kodiak Gas Services, Inc. · KGS

Sep 2021—

Dec 2021—

Mar 202243%

Jun 202242%

Sep 202230%

Dec 202233%

Mar 202326%

Jun 202322%

Sep 202323%

Dec 202333%

Mar 202428%

Jun 202438%

Sep 202427%

Dec 202424%

Mar 202524%

Jun 202526%

Sep 202532%

Dec 202516%

Mar 202634%

Jun 2026—

LandBridge Company LLC · LB

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 20226.3%

Mar 2023—

Jun 20239.1%

Sep 20230.0%

Dec 20230.0%

Mar 20240.0%

Jun 20240.0%

Sep 20240.0%

Dec 20240.0%

Mar 20250.0%

Jun 20252.1%

Sep 20252.0%

Dec 20253.5%

Mar 20260.0%

Jun 2026—

NOV Inc. · NOV

Sep 20212.9%

Dec 20214.2%

Mar 20223.0%

Jun 20222.5%

Sep 20223.1%

Dec 20223.2%

Mar 20232.9%

Jun 20233.6%

Sep 20233.4%

Dec 20233.2%

Mar 20243.2%

Jun 20243.7%

Sep 20243.7%

Dec 20245.1%

Mar 20254.0%

Jun 20253.8%

Sep 20254.9%

Dec 20254.4%

Mar 20263.2%

Jun 2026—

Oceaneering International, Inc. · OII

Sep 20212.6%

Dec 20213.0%

Mar 20224.3%

Jun 20223.1%

Sep 20223.4%

Dec 20224.9%

Mar 20233.4%

Jun 20233.7%

Sep 20234.1%

Dec 20235.2%

Mar 20244.3%

Jun 20243.4%

Sep 20243.7%

Dec 20244.8%

Mar 20253.9%

Jun 20254.3%

Sep 20253.2%

Dec 20254.5%

Mar 20262.5%

Jun 2026—

SLB N.V. · SLB

Sep 20214.7%

Dec 20217.2%

Mar 20225.1%

Jun 20225.3%

Sep 20225.1%

Dec 20227.3%

Mar 20235.3%

Jun 20235.8%

Sep 20235.6%

Dec 20236.6%

Mar 20244.6%

Jun 20245.1%

Sep 20245.0%

Dec 20246.6%

Mar 20254.7%

Jun 20254.3%

Sep 20254.6%

Dec 20255.3%

Mar 20263.9%

Jun 2026—

TechnipFMC plc · FTI

Sep 20213.0%

Dec 20214.0%

Mar 20221.7%

Jun 20222.1%

Sep 20221.8%

Dec 20223.8%

Mar 20233.3%

Jun 20232.7%

Sep 20232.1%

Dec 20233.5%

Mar 20242.5%

Jun 20242.2%

Sep 20242.3%

Dec 20245.3%

Mar 20252.8%

Jun 20253.3%

Sep 20252.9%

Dec 20253.8%

Mar 20262.2%

Jun 2026—

Tenaris S.A. · TS

Sep 20214.2%

Dec 20213.4%

Mar 20223.6%

Jun 20222.7%

Sep 20223.9%

Dec 20223.3%

Mar 20232.8%

Jun 20234.0%

Sep 20235.3%

Dec 20234.9%

Mar 20244.9%

Jun 20245.3%

Sep 20246.3%

Dec 20246.2%

Mar 20255.5%

Jun 20255.0%

Sep 20256.0%

Dec 20253.8%

Mar 20263.5%

Jun 2026—

Weatherford International plc · WFRD

Sep 20212.1%

Dec 20214.2%

Mar 20222.1%

Jun 20222.3%

Sep 20223.5%

Dec 20224.1%

Mar 20235.4%

Jun 20232.8%

Sep 20233.2%

Dec 20234.9%

Mar 20244.3%

Jun 20244.4%

Sep 20245.5%

Dec 20244.5%

Mar 20256.5%

Jun 20254.5%

Sep 20253.6%

Dec 20254.0%

Mar 20264.7%

Jun 2026—

Annual capital allocation · 6-year view

30/30 capacity base · 30/30 OCF · 30/30 CAPEX · 30/30 FCF

Capacity base is net fixed assets plus capital work in progress, straight off the reported balance sheet. It is not cash spent, so it answers a narrower question than CAPEX — but it is reported for companies whose cash-flow CAPEX is not published, which is why it leads here. Missing years remain blank; annual values are never relabelled as quarters.

Full annual capacity base, operating cash flow, CAPEX and free cash flow history

Capacity base · net fixed assets + CWIP · fiscal-year history

Showing the 12 largest of 30 companies with a series here. The remaining 18 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Archrock, Inc. · AROC

Dec 2019—

Dec 2021$2.2B

Dec 2022$2.2B

Dec 2023$2.3B

Dec 2024$3.3B

Dec 2025$3.7B

Baker Hughes Company · BKR

Dec 2019—

Dec 2021$4.9B

Dec 2022$4.5B

Dec 2023$4.9B

Dec 2024$5.1B

Dec 2025$5.3B

Cactus, Inc. · WHD

Dec 2019—

Dec 2021$152M

Dec 2022$153M

Dec 2023$369M

Dec 2024$370M

Dec 2025$362M

Halliburton Company · HAL

Dec 2019—

Dec 2021$5.3B

Dec 2022$5.3B

Dec 2023$6.0B

Dec 2024$6.1B

Dec 2025$6.2B

Kodiak Gas Services, Inc. · KGS

Dec 2019—

Dec 2021$2.4B

Dec 2022$2.5B

Dec 2023$2.6B

Dec 2024$3.5B

Dec 2025$3.4B

LandBridge Company LLC · LB

Dec 2019—

Dec 2021—

Dec 2022$207M

Dec 2023$203M

Dec 2024$903M

Dec 2025$1.1B

NOV Inc. · NOV

Dec 2019—

Dec 2021$2.4B

Dec 2022$2.3B

Dec 2023$2.4B

Dec 2024$2.5B

Dec 2025$2.6B

Oceaneering International, Inc. · OII

Dec 2019—

Dec 2021$636M

Dec 2022$578M

Dec 2023$762M

Dec 2024$755M

Dec 2025$801M

SLB N.V. · SLB

Dec 2019—

Dec 2021$6.4B

Dec 2022$6.6B

Dec 2023$7.2B

Dec 2024$7.4B

Dec 2025$7.9B

TechnipFMC plc · FTI

Dec 2019—

Dec 2021$3.3B

Dec 2022$3.1B

Dec 2023$3.1B

Dec 2024$3.0B

Dec 2025$3.1B

Tenaris S.A. · TS

Dec 2019—

Dec 2021$5.9B

Dec 2022$5.7B

Dec 2023$6.2B

Dec 2024$6.3B

Dec 2025$6.4B

Weatherford International plc · WFRD

Dec 2019—

Dec 2021$1.1B

Dec 2022$1.0B

Dec 2023$1.1B

Dec 2024$1.2B

Dec 2025$1.3B

Operating cash flow · fiscal-year history

Showing the 12 largest of 30 companies with a series here. The remaining 18 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Archrock, Inc. · AROC

Dec 2019—

Dec 2021$237M

Dec 2022$203M

Dec 2023$310M

Dec 2024$430M

Dec 2025$622M

Baker Hughes Company · BKR

Dec 2019—

Dec 2021$2.4B

Dec 2022$1.9B

Dec 2023$3.1B

Dec 2024$3.3B

Dec 2025$3.8B

Cactus, Inc. · WHD

Dec 2019—

Dec 2021$64M

Dec 2022$118M

Dec 2023$340M

Dec 2024$316M

Dec 2025$258M

Halliburton Company · HAL

Dec 2019—

Dec 2021$1.9B

Dec 2022$2.2B

Dec 2023$3.5B

Dec 2024$3.9B

Dec 2025$2.9B

Kodiak Gas Services, Inc. · KGS

Dec 2019—

Dec 2021$250M

Dec 2022$220M

Dec 2023$266M

Dec 2024$328M

Dec 2025$600M

LandBridge Company LLC · LB

Dec 2019—

Dec 2021—

Dec 2022$21M

Dec 2023$53M

Dec 2024$68M

Dec 2025$126M

NOV Inc. · NOV

Dec 2019—

Dec 2021$291M

Dec 2022$-179M

Dec 2023$143M

Dec 2024$1.3B

Dec 2025$1.3B

Oceaneering International, Inc. · OII

Dec 2019—

Dec 2021$225M

Dec 2022$121M

Dec 2023$210M

Dec 2024$203M

Dec 2025$319M

SLB N.V. · SLB

Dec 2019—

Dec 2021$4.7B

Dec 2022$3.7B

Dec 2023$6.6B

Dec 2024$6.6B

Dec 2025$6.5B

TechnipFMC plc · FTI

Dec 2019—

Dec 2021$781M

Dec 2022$352M

Dec 2023$693M

Dec 2024$961M

Dec 2025$1.8B

Tenaris S.A. · TS

Dec 2019—

Dec 2021$119M

Dec 2022$1.2B

Dec 2023$4.4B

Dec 2024$2.9B

Dec 2025$2.6B

Weatherford International plc · WFRD

Dec 2019—

Dec 2021$322M

Dec 2022$349M

Dec 2023$832M

Dec 2024$792M

Dec 2025$676M

CAPEX · reported cash flow · fiscal-year history

Showing the 12 largest of 30 companies with a series here. The remaining 18 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Archrock, Inc. · AROC

Dec 2019—

Dec 2021$98M

Dec 2022$240M

Dec 2023$299M

Dec 2024$359M

Dec 2025$502M

Baker Hughes Company · BKR

Dec 2019—

Dec 2021$856M

Dec 2022$989M

Dec 2023$1.2B

Dec 2024$1.3B

Dec 2025$1.3B

Cactus, Inc. · WHD

Dec 2019—

Dec 2021$14M

Dec 2022$28M

Dec 2023$44M

Dec 2024$39M

Dec 2025$39M

Halliburton Company · HAL

Dec 2019—

Dec 2021$799M

Dec 2022$1.0B

Dec 2023$1.4B

Dec 2024$1.4B

Dec 2025$1.3B

Kodiak Gas Services, Inc. · KGS

Dec 2019—

Dec 2021$202M

Dec 2022$259M

Dec 2023$220M

Dec 2024$337M

Dec 2025$315M

LandBridge Company LLC · LB

Dec 2019—

Dec 2021—

Dec 2022$3M

Dec 2023$3M

Dec 2024$1M

Dec 2025$4M

NOV Inc. · NOV

Dec 2019—

Dec 2021$201M

Dec 2022$214M

Dec 2023$283M

Dec 2024$351M

Dec 2025$375M

Oceaneering International, Inc. · OII

Dec 2019—

Dec 2021$50M

Dec 2022$81M

Dec 2023$101M

Dec 2024$107M

Dec 2025$111M

SLB N.V. · SLB

Dec 2019—

Dec 2021$1.1B

Dec 2022$1.6B

Dec 2023$1.9B

Dec 2024$1.9B

Dec 2025$1.7B

TechnipFMC plc · FTI

Dec 2019—

Dec 2021$192M

Dec 2022$158M

Dec 2023$225M

Dec 2024$282M

Dec 2025$317M

Tenaris S.A. · TS

Dec 2019—

Dec 2021$245M

Dec 2022$397M

Dec 2023$618M

Dec 2024$704M

Dec 2025$611M

Weatherford International plc · WFRD

Dec 2019—

Dec 2021$85M

Dec 2022$132M

Dec 2023$209M

Dec 2024$299M

Dec 2025$226M

Free cash flow · fiscal-year history

Showing the 12 largest of 30 companies with a series here. The remaining 18 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Archrock, Inc. · AROC

Dec 2019—

Dec 2021$140M

Dec 2022$-36M

Dec 2023$12M

Dec 2024$71M

Dec 2025$120M

Baker Hughes Company · BKR

Dec 2019—

Dec 2021$1.5B

Dec 2022$899M

Dec 2023$1.8B

Dec 2024$2.1B

Dec 2025$2.5B

Cactus, Inc. · WHD

Dec 2019—

Dec 2021$50M

Dec 2022$90M

Dec 2023$296M

Dec 2024$277M

Dec 2025$220M

Halliburton Company · HAL

Dec 2019—

Dec 2021$1.1B

Dec 2022$1.2B

Dec 2023$2.1B

Dec 2024$2.4B

Dec 2025$1.7B

Kodiak Gas Services, Inc. · KGS

Dec 2019—

Dec 2021$48M

Dec 2022$-40M

Dec 2023$47M

Dec 2024$-9M

Dec 2025$284M

LandBridge Company LLC · LB

Dec 2019—

Dec 2021—

Dec 2022$17M

Dec 2023$50M

Dec 2024$67M

Dec 2025$122M

NOV Inc. · NOV

Dec 2019—

Dec 2021$90M

Dec 2022$-393M

Dec 2023$-140M

Dec 2024$953M

Dec 2025$876M

Oceaneering International, Inc. · OII

Dec 2019—

Dec 2021$175M

Dec 2022$40M

Dec 2023$109M

Dec 2024$96M

Dec 2025$208M

SLB N.V. · SLB

Dec 2019—

Dec 2021$3.5B

Dec 2022$2.1B

Dec 2023$4.7B

Dec 2024$4.7B

Dec 2025$4.8B

TechnipFMC plc · FTI

Dec 2019—

Dec 2021$590M

Dec 2022$194M

Dec 2023$468M

Dec 2024$679M

Dec 2025$1.5B

Tenaris S.A. · TS

Dec 2019—

Dec 2021$-126M

Dec 2022$770M

Dec 2023$3.8B

Dec 2024$2.2B

Dec 2025$2.0B

Weatherford International plc · WFRD

Dec 2019—

Dec 2021$237M

Dec 2022$217M

Dec 2023$623M

Dec 2024$493M

Dec 2025$450M

05 · compare level, then change

Debt Load & Balance-Sheet Headroom

Cactus, Inc. has the lowest Gross debt among the 30 Oil & Gas Equipment & Services companies compared here, at $55 million. RPC, Inc. is next at $75 million. Tenaris S.A. has the lowest Net debt at $678 million net cash, so level and change sit with different companies.

What the numbers say: Tenaris S.A. has the clearest covered balance-sheet capacity with $678 million net cash and gross debt of $474 million. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.

LeaderCactus, Inc. · $55 million

Gap26.7% versus #2 · RPC, Inc.

Persistence8/8 recent comparable periods

Coverage30/30 companies · 521 observations

Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.

This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.

Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.

Gross debtlowest gross debt

1Cactus, Inc. WHD$55M

2RPC, Inc. RES$75M

3Innovex International, Inc. INVX$76M

4Expro Group Holdings N.V. XPRO$172M

5ProPetro Holding Corp. PUMP$187M

Net debtlowest net debt

1Tenaris S.A. TS$-678M

2Cactus, Inc. WHD$-237M

3RPC, Inc. RES$-126M

4Innovex International, Inc. INVX$-125M

5Expro Group Holdings N.V. XPRO$1M

Debt and balance-sheet capacity · company comparison

30/30 level · 30/30 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Gross debt	Net debt	Reported
Baker Hughes Company BKR	$16.2B	$1.4B	Mar 2026
SLB N.V. SLB	$12.8B	$8.7B	Jun 2026
NextDecade Corporation NEXT	$9.5B	$9.0B	Mar 2026
Halliburton Company HAL	$8.2B	$6.2B	Jun 2026
USA Compression Partners, LP USAC	$3.0B	$3.0B	Mar 2026
Kodiak Gas Services, Inc. KGS	$2.8B	$2.7B	Mar 2026
Archrock, Inc. AROC	$2.4B	$2.4B	Mar 2026
NOV Inc. NOV	$2.3B	$997M	Mar 2026
Weatherford International plc WFRD	$1.6B	$522M	Jun 2026
Solaris Energy Infrastructure, Inc. SEI	$1.6B	$1.3B	Mar 2026
Liberty Energy Inc. LBRT	$1.6B	$1.1B	Jun 2026
WaterBridge Infrastructure LLC WBI	$1.5B	$1.4B	Mar 2026
TechnipFMC plc FTI	$1.3B	$343M	Mar 2026
Bristow Group Inc. VTOL	$1.0B	$658M	Mar 2026
Oceaneering International, Inc. OII	$708M	$79M	Jun 2026
Atlas Energy Solutions Inc. AESI	$693M	$653M	Mar 2026
Tidewater Inc. TDW	$654M	$102M	Mar 2026
Helix Energy Solutions Group, Inc. HLX	$626M	$125M	Mar 2026
Enerflex Ltd. EFXT	$621M	$574M	Mar 2026
LandBridge Company LLC LB	$536M	$506M	Mar 2026
Tenaris S.A. TS	$474M	$-678M	Mar 2026
Flowco Holdings Inc. FLOC	$368M	$351M	Mar 2026
National Energy Services Reunited Corp. NESR	$312M	$219M	Mar 2026
EagleRock Land, LLC EROK	$298M	$294M	Mar 2026
Select Water Solutions, Inc. WTTR	$285M	$229M	Mar 2026
ProPetro Holding Corp. PUMP	$187M	$30M	Mar 2026
Expro Group Holdings N.V. XPRO	$172M	$1M	Mar 2026
Innovex International, Inc. INVX	$76M	$-125M	Mar 2026
RPC, Inc. RES	$75M	$-126M	Mar 2026
Cactus, Inc. WHD	$55M	$-237M	Mar 2026

Full 20-quarter history · every available company

Gross debt · reported quarter history

Showing the 12 largest of 30 companies with a series here. The remaining 18 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Archrock, Inc. · AROC

Sep 2021$1.5B

Dec 2021$1.5B

Mar 2022$1.5B

Jun 2022$1.5B

Sep 2022$1.5B

Dec 2022$1.6B

Mar 2023$1.6B

Jun 2023$1.7B

Sep 2023$1.6B

Dec 2023$1.6B

Mar 2024$1.6B

Jun 2024$1.6B

Sep 2024$2.2B

Dec 2024$2.2B

Mar 2025$2.3B

Jun 2025$2.6B

Sep 2025$2.6B

Dec 2025$2.4B

Mar 2026$2.4B

Jun 2026—

Baker Hughes Company · BKR

Sep 2021$6.8B

Dec 2021$6.7B

Mar 2022$6.7B

Jun 2022$6.7B

Sep 2022$6.7B

Dec 2022$6.7B

Mar 2023$6.7B

Jun 2023$6.6B

Sep 2023$6.7B

Dec 2023$6.0B

Mar 2024$6.0B

Jun 2024$5.9B

Sep 2024$6.0B

Dec 2024$6.0B

Mar 2025$6.0B

Jun 2025$6.0B

Sep 2025$6.1B

Dec 2025$6.1B

Mar 2026$16.2B

Jun 2026—

Cactus, Inc. · WHD

Sep 2021$33M

Dec 2021$33M

Mar 2022$34M

Jun 2022$34M

Sep 2022$35M

Dec 2022$36M

Mar 2023$190M

Jun 2023$91M

Sep 2023$37M

Dec 2023$40M

Mar 2024$41M

Jun 2024$40M

Sep 2024$42M

Dec 2024$42M

Mar 2025$43M

Jun 2025$42M

Sep 2025$40M

Dec 2025$38M

Mar 2026$55M

Jun 2026—

Halliburton Company · HAL

Sep 2021$10.3B

Dec 2021$10.2B

Mar 2022$9.6B

Jun 2022$9.5B

Sep 2022$9.0B

Dec 2022$8.9B

Mar 2023$9.0B

Jun 2023$9.1B

Sep 2023$8.9B

Dec 2023$8.8B

Mar 2024$8.8B

Jun 2024$8.7B

Sep 2024$8.7B

Dec 2024$8.6B

Mar 2025$8.6B

Jun 2025$8.6B

Sep 2025$8.6B

Dec 2025$8.1B

Mar 2026$8.1B

Jun 2026$8.2B

Kodiak Gas Services, Inc. · KGS

Sep 2021$1.8B

Dec 2021$1.8B

Mar 2022—

Jun 2022—

Sep 2022$2.7B

Dec 2022$2.7B

Mar 2023$2.8B

Jun 2023$2.8B

Sep 2023$1.8B

Dec 2023$1.8B

Mar 2024$1.9B

Jun 2024$2.5B

Sep 2024$2.6B

Dec 2024$2.6B

Mar 2025$2.6B

Jun 2025$2.6B

Sep 2025$2.7B

Dec 2025$2.6B

Mar 2026$2.8B

Jun 2026—

LandBridge Company LLC · LB

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022$58M

Dec 2022$58M

Mar 2023—

Jun 2023—

Sep 2023$118M

Dec 2023$129M

Mar 2024$0M

Jun 2024—

Sep 2024$278M

Dec 2024$381M

Mar 2025$376M

Jun 2025$371M

Sep 2025$367M

Dec 2025$560M

Mar 2026$536M

Jun 2026—

NOV Inc. · NOV

Sep 2021$2.4B

Dec 2021$2.4B

Mar 2022$2.4B

Jun 2022$2.4B

Sep 2022$2.4B

Dec 2022$2.4B

Mar 2023$2.4B

Jun 2023$2.4B

Sep 2023$2.4B

Dec 2023$2.4B

Mar 2024$2.5B

Jun 2024$2.4B

Sep 2024$2.4B

Dec 2024$2.4B

Mar 2025$2.4B

Jun 2025$2.4B

Sep 2025$2.4B

Dec 2025$2.3B

Mar 2026$2.3B

Jun 2026—

Oceaneering International, Inc. · OII

Sep 2021$897M

Dec 2021$861M

Mar 2022$855M

Jun 2022$846M

Sep 2022$850M

Dec 2022$853M

Mar 2023$863M

Jun 2023$913M

Sep 2023$971M

Dec 2023$771M

Mar 2024$804M

Jun 2024$775M

Sep 2024$753M

Dec 2024$720M

Mar 2025$702M

Jun 2025$690M

Sep 2025$772M

Dec 2025$745M

Mar 2026$720M

Jun 2026$708M

SLB N.V. · SLB

Sep 2021$15.4B

Dec 2021$14.2B

Mar 2022$14.1B

Jun 2022$13.8B

Sep 2022$13.4B

Dec 2022$12.2B

Mar 2023$12.8B

Jun 2023$13.3B

Sep 2023$13.1B

Dec 2023$12.0B

Mar 2024$12.2B

Jun 2024$13.2B

Sep 2024$12.9B

Dec 2024$12.1B

Mar 2025$14.0B

Jun 2025$13.7B

Sep 2025$12.8B

Dec 2025$11.6B

Mar 2026$11.6B

Jun 2026$12.8B

TechnipFMC plc · FTI

Sep 2021$3.1B

Dec 2021$2.8B

Mar 2022$2.9B

Jun 2022$2.4B

Sep 2022$2.2B

Dec 2022$2.3B

Mar 2023$2.3B

Jun 2023$2.4B

Sep 2023$2.2B

Dec 2023$2.0B

Mar 2024$1.9B

Jun 2024$1.9B

Sep 2024$1.9B

Dec 2024$1.8B

Mar 2025$1.9B

Jun 2025$1.6B

Sep 2025$1.3B

Dec 2025$1.3B

Mar 2026$1.3B

Jun 2026—

Tenaris S.A. · TS

Sep 2021$734M

Dec 2021$448M

Mar 2022$472M

Jun 2022$857M

Sep 2022$991M

Dec 2022$841M

Mar 2023$708M

Jun 2023$811M

Sep 2023$742M

Dec 2023$718M

Mar 2024$776M

Jun 2024$737M

Sep 2024$652M

Dec 2024$582M

Mar 2025$498M

Jun 2025$472M

Sep 2025$478M

Dec 2025$449M

Mar 2026$474M

Jun 2026—

Weatherford International plc · WFRD

Sep 2021$2.8B

Dec 2021$2.6B

Mar 2022$2.6B

Jun 2022$2.6B

Sep 2022$2.5B

Dec 2022$2.4B

Mar 2023$2.4B

Jun 2023$2.2B

Sep 2023$2.1B

Dec 2023$2.1B

Mar 2024$1.9B

Jun 2024$1.8B

Sep 2024$1.8B

Dec 2024$1.8B

Mar 2025$1.8B

Jun 2025$1.7B

Sep 2025$1.7B

Dec 2025$1.6B

Mar 2026$1.6B

Jun 2026$1.6B

Net debt · reported quarter history

Showing the 12 largest of 30 companies with a series here. The remaining 18 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Archrock, Inc. · AROC

Sep 2021$1.5B

Dec 2021$1.5B

Mar 2022$1.5B

Jun 2022$1.5B

Sep 2022$1.5B

Dec 2022$1.6B

Mar 2023$1.6B

Jun 2023$1.7B

Sep 2023$1.6B

Dec 2023$1.6B

Mar 2024$1.6B

Jun 2024$1.6B

Sep 2024$2.2B

Dec 2024$2.2B

Mar 2025$2.3B

Jun 2025$2.6B

Sep 2025$2.6B

Dec 2025$2.4B

Mar 2026$2.4B

Jun 2026—

Baker Hughes Company · BKR

Sep 2021$2.8B

Dec 2021$2.9B

Mar 2022$3.5B

Jun 2022$3.7B

Sep 2022$3.8B

Dec 2022$4.2B

Mar 2023$4.2B

Jun 2023$3.8B

Sep 2023$3.5B

Dec 2023$3.4B

Mar 2024$3.3B

Jun 2024$3.6B

Sep 2024$3.4B

Dec 2024$2.7B

Mar 2025$2.7B

Jun 2025$2.9B

Sep 2025$3.4B

Dec 2025$2.4B

Mar 2026$1.4B

Jun 2026—

Cactus, Inc. · WHD

Sep 2021$-269M

Dec 2021$-269M

Mar 2022$-264M

Jun 2022$-278M

Sep 2022$-286M

Dec 2022$-309M

Mar 2023$115M

Jun 2023$27M

Sep 2023$-27M

Dec 2023$-94M

Mar 2024$-153M

Jun 2024$-207M

Sep 2024$-261M

Dec 2024$-301M

Mar 2025$-305M

Jun 2025$-363M

Sep 2025$-406M

Dec 2025$-86M

Mar 2026$-237M

Jun 2026—

Halliburton Company · HAL

Sep 2021$7.7B

Dec 2021$7.2B

Mar 2022$7.4B

Jun 2022$7.3B

Sep 2022$7.0B

Dec 2022$6.6B

Mar 2023$7.1B

Jun 2023$7.0B

Sep 2023$6.9B

Dec 2023$6.5B

Mar 2024$6.9B

Jun 2024$6.6B

Sep 2024$6.5B

Dec 2024$6.0B

Mar 2025$6.8B

Jun 2025$6.5B

Sep 2025$6.5B

Dec 2025$5.9B

Mar 2026$6.1B

Jun 2026$6.2B

Kodiak Gas Services, Inc. · KGS

Sep 2021$1.8B

Dec 2021$1.8B

Mar 2022—

Jun 2022—

Sep 2022$2.7B

Dec 2022$2.7B

Mar 2023$2.7B

Jun 2023$2.8B

Sep 2023$1.8B

Dec 2023$1.8B

Mar 2024$1.9B

Jun 2024$2.5B

Sep 2024$2.6B

Dec 2024$2.6B

Mar 2025$2.6B

Jun 2025$2.6B

Sep 2025$2.7B

Dec 2025$2.6B

Mar 2026$2.7B

Jun 2026—

LandBridge Company LLC · LB

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022$33M

Dec 2022$33M

Mar 2023—

Jun 2023—

Sep 2023$101M

Dec 2023$91M

Mar 2024—

Jun 2024—

Sep 2024$264M

Dec 2024$344M

Mar 2025$361M

Jun 2025$351M

Sep 2025$339M

Dec 2025$529M

Mar 2026$506M

Jun 2026—

NOV Inc. · NOV

Sep 2021$731M

Dec 2021$797M

Mar 2022$969M

Jun 2022$1.2B

Sep 2022$1.4B

Dec 2022$1.3B

Mar 2023$1.6B

Jun 2023$1.8B

Sep 2023$1.9B

Dec 2023$1.6B

Mar 2024$2.0B

Jun 2024$1.6B

Sep 2024$1.4B

Dec 2024$1.2B

Mar 2025$1.2B

Jun 2025$1.3B

Sep 2025$1.1B

Dec 2025$788M

Mar 2026$997M

Jun 2026—

Oceaneering International, Inc. · OII

Sep 2021$449M

Dec 2021$323M

Mar 2022$417M

Jun 2022$478M

Sep 2022$422M

Dec 2022$284M

Mar 2023$358M

Jun 2023$409M

Sep 2023$415M

Dec 2023$309M

Mar 2024$449M

Jun 2024$392M

Sep 2024$301M

Dec 2024$222M

Mar 2025$320M

Jun 2025$256M

Sep 2025$266M

Dec 2025$56M

Mar 2026$113M

Jun 2026$79M

SLB N.V. · SLB

Sep 2021$12.5B

Dec 2021$11.1B

Mar 2022$11.4B

Jun 2022$11.0B

Sep 2022$9.7B

Dec 2022$9.3B

Mar 2023$10.3B

Jun 2023$10.1B

Sep 2023$9.4B

Dec 2023$8.0B

Mar 2024$8.7B

Jun 2024$9.2B

Sep 2024$8.5B

Dec 2024$7.4B

Mar 2025$10.1B

Jun 2025$10.0B

Sep 2025$9.2B

Dec 2025$7.4B

Mar 2026$8.2B

Jun 2026$8.7B

TechnipFMC plc · FTI

Sep 2021$2.0B

Dec 2021$1.5B

Mar 2022$1.7B

Jun 2022$1.7B

Sep 2022$1.5B

Dec 2022$1.2B

Mar 2023$1.8B

Jun 2023$1.8B

Sep 2023$1.5B

Dec 2023$1.0B

Mar 2024$1.2B

Jun 2024$1.2B

Sep 2024$1.1B

Dec 2024$633M

Mar 2025$665M

Jun 2025$651M

Sep 2025$462M

Dec 2025$311M

Mar 2026$343M

Jun 2026—

Tenaris S.A. · TS

Sep 2021$-238M

Dec 2021$-268M

Mar 2022$-198M

Jun 2022$-339M

Sep 2022$-438M

Dec 2022$-689M

Mar 2023$-1.2B

Jun 2023$-1.8B

Sep 2023$-2.6B

Dec 2023$-2.9B

Mar 2024$-2.8B

Jun 2024$-2.6B

Sep 2024$-2.9B

Dec 2024$-93M

Mar 2025$-2.9B

Jun 2025$-2.6B

Sep 2025$-2.5B

Dec 2025$-124M

Mar 2026$-678M

Jun 2026—

Weatherford International plc · WFRD

Sep 2021$1.5B

Dec 2021$1.7B

Mar 2022$1.8B

Jun 2022$1.7B

Sep 2022$1.6B

Dec 2022$1.5B

Mar 2023$1.5B

Jun 2023$1.4B

Sep 2023$1.3B

Dec 2023$1.1B

Mar 2024$1.1B

Jun 2024$959M

Sep 2024$896M

Dec 2024$872M

Mar 2025$886M

Jun 2025$804M

Sep 2025$777M

Dec 2025$655M

Mar 2026$618M

Jun 2026$522M

06 · compare level, then change

Return On Capital Employed

Halliburton Company has the highest ROCE among the 30 Oil & Gas Equipment & Services companies compared here, at 24.2%. EagleRock Land, LLC is next at 7.2%. The same company also holds the highest ROCE change, at +20.5 percentage points. 30 of 30 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Halliburton Company leads ROCE at 24.2%, 17 percentage points above EagleRock Land, LLC. Halliburton Company has the strongest latest improvement at +20.5 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

LeaderHalliburton Company · 24.2%

Gap236.1% versus #2 · EagleRock Land, LLC

Persistence2/8 recent comparable periods

Coverage30/30 companies · 520 observations

Investor read: Halliburton Company sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

ROCEhighest

1Halliburton Company HAL24%

2EagleRock Land, LLC EROK7.2%

3TechnipFMC plc FTI7.0%

4Oceaneering International, Inc. OII4.9%

5Baker Hughes Company BKR4.3%

ROCE changefastest improvers

1Halliburton Company HAL+20.5 pp

2Baker Hughes Company BKR+1.8 pp

3TechnipFMC plc FTI+1.7 pp

4National Energy Services Reunited Corp. NESR+1.1 pp

5NextDecade Corporation NEXT+0.4 pp

Return on capital · company comparison

30/30 level · 29/30 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	ROCE	ROCE change	Reported
Halliburton Company HAL	24%	+20.5 pp	Jun 2026
EagleRock Land, LLC EROK	7.2%	—	Mar 2026
TechnipFMC plc FTI	7.0%	+1.7 pp	Mar 2026
Oceaneering International, Inc. OII	4.9%	−0.1 pp	Jun 2026
Baker Hughes Company BKR	4.3%	+1.8 pp	Mar 2026
Enerflex Ltd. EFXT	3.7%	0.0 pp	Mar 2026
Tenaris S.A. TS	3.2%	+0.2 pp	Mar 2026
Archrock, Inc. AROC	3.2%	−0.7 pp	Mar 2026
Tidewater Inc. TDW	3.1%	−1.2 pp	Mar 2026
USA Compression Partners, LP USAC	3.0%	+0.3 pp	Mar 2026
Weatherford International plc WFRD	2.9%	−3.8 pp	Jun 2026
SLB N.V. SLB	2.8%	−0.5 pp	Jun 2026
Solaris Energy Infrastructure, Inc. SEI	2.8%	−0.2 pp	Mar 2026
National Energy Services Reunited Corp. NESR	2.8%	+1.1 pp	Mar 2026
Cactus, Inc. WHD	2.7%	−1.9 pp	Mar 2026
Kodiak Gas Services, Inc. KGS	2.6%	+0.1 pp	Mar 2026
LandBridge Company LLC LB	2.5%	−2.5 pp	Mar 2026
Flowco Holdings Inc. FLOC	2.2%	−2.4 pp	Mar 2026
Bristow Group Inc. VTOL	1.8%	−0.1 pp	Mar 2026
WaterBridge Infrastructure LLC WBI	1.3%	+0.1 pp	Mar 2026
Select Water Solutions, Inc. WTTR	1.3%	0.0 pp	Mar 2026
NOV Inc. NOV	0.5%	−1.2 pp	Mar 2026
Liberty Energy Inc. LBRT	0.4%	−1.0 pp	Jun 2026
Expro Group Holdings N.V. XPRO	0.2%	−0.4 pp	Mar 2026
RPC, Inc. RES	0.2%	−0.9 pp	Mar 2026
NextDecade Corporation NEXT	-0.6%	+0.4 pp	Mar 2026
Helix Energy Solutions Group, Inc. HLX	-0.6%	−1.0 pp	Mar 2026
ProPetro Holding Corp. PUMP	-0.7%	−1.5 pp	Mar 2026
Atlas Energy Solutions Inc. AESI	-1.6%	−2.4 pp	Mar 2026
Innovex International, Inc. INVX	-2.0%	−4.3 pp	Mar 2026

Full 20-quarter history · every available company

ROCE · reported quarter history

Showing the 12 largest of 30 companies with a series here. The remaining 18 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Archrock, Inc. · AROC

Sep 20210.9%

Dec 20211.0%

Mar 20221.0%

Jun 20221.3%

Sep 20221.3%

Dec 20221.4%

Mar 20231.9%

Jun 20232.5%

Sep 20232.7%

Dec 20232.7%

Mar 20243.2%

Jun 20242.9%

Sep 20242.7%

Dec 20243.4%

Mar 20253.9%

Jun 20253.5%

Sep 20253.6%

Dec 20254.1%

Mar 20263.2%

Jun 2026—

Baker Hughes Company · BKR

Sep 20211.4%

Dec 20212.1%

Mar 20221.1%

Jun 2022-0.1%

Sep 20221.1%

Dec 20222.7%

Mar 20231.8%

Jun 20232.1%

Sep 20233.0%

Dec 20233.4%

Mar 20242.9%

Jun 20243.6%

Sep 20244.4%

Dec 20244.5%

Mar 20252.5%

Jun 20254.1%

Sep 20253.4%

Dec 20253.1%

Mar 20264.3%

Jun 2026—

Cactus, Inc. · WHD

Sep 20212.5%

Dec 20213.1%

Mar 20223.5%

Jun 20224.8%

Sep 20225.6%

Dec 20225.1%

Mar 20234.4%

Jun 20234.3%

Sep 20237.8%

Dec 20236.7%

Mar 20244.6%

Jun 20245.8%

Sep 20245.5%

Dec 20244.8%

Mar 20254.6%

Jun 20253.9%

Sep 20253.9%

Dec 20253.7%

Mar 20262.7%

Jun 2026—

Halliburton Company · HAL

Sep 20212.6%

Dec 20213.2%

Mar 20223.0%

Jun 20222.2%

Sep 20224.9%

Dec 20225.4%

Mar 20235.4%

Jun 20235.6%

Sep 20235.7%

Dec 20235.7%

Mar 20245.2%

Jun 20245.4%

Sep 20244.5%

Dec 20244.8%

Mar 20252.2%

Jun 20253.7%

Sep 20251.8%

Dec 20253.8%

Mar 20263.5%

Jun 202624%

Kodiak Gas Services, Inc. · KGS

Sep 20210.0%

Dec 20210.0%

Mar 2022—

Jun 2022—

Sep 20222.0%

Dec 20222.0%

Mar 20234.0%

Jun 20234.1%

Sep 20232.0%

Dec 20232.0%

Mar 20242.0%

Jun 20241.5%

Sep 20241.8%

Dec 20241.9%

Mar 20252.5%

Jun 20252.4%

Sep 20251.6%

Dec 20252.2%

Mar 20262.6%

Jun 2026—

LandBridge Company LLC · LB

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 20220.0%

Dec 20221.2%

Mar 2023—

Jun 2023—

Sep 20237.6%

Dec 20232.1%

Mar 2024—

Jun 2024—

Sep 20240.7%

Dec 20242.8%

Mar 20255.0%

Jun 20255.4%

Sep 20253.6%

Dec 20252.9%

Mar 20262.5%

Jun 2026—

NOV Inc. · NOV

Sep 2021-0.5%

Dec 2021-0.2%

Mar 2022-0.3%

Jun 20220.9%

Sep 20220.7%

Dec 20222.1%

Mar 20231.6%

Jun 20232.3%

Sep 20232.3%

Dec 20231.9%

Mar 20241.9%

Jun 20243.7%

Sep 20242.2%

Dec 20242.3%

Mar 20251.7%

Jun 20251.6%

Sep 20251.2%

Dec 20251.0%

Mar 20260.5%

Jun 2026—

Oceaneering International, Inc. · OII

Sep 20211.0%

Dec 2021-0.8%

Mar 2022-0.1%

Jun 20221.5%

Sep 20223.2%

Dec 20222.9%

Mar 20231.8%

Jun 20233.3%

Sep 20234.0%

Dec 20233.2%

Mar 20242.5%

Jun 20243.9%

Sep 20244.6%

Dec 20245.1%

Mar 20254.7%

Jun 20255.0%

Sep 20255.2%

Dec 20253.8%

Mar 20263.3%

Jun 20264.9%

SLB N.V. · SLB

Sep 20212.4%

Dec 20212.6%

Mar 20222.2%

Jun 20223.0%

Sep 20223.7%

Dec 20224.2%

Mar 20233.8%

Jun 20234.1%

Sep 20234.4%

Dec 20234.5%

Mar 20244.2%

Jun 20244.2%

Sep 20244.4%

Dec 20244.0%

Mar 20253.3%

Jun 20253.3%

Sep 20252.7%

Dec 20252.6%

Mar 20262.8%

Jun 20262.8%

TechnipFMC plc · FTI

Sep 20210.5%

Dec 2021-0.5%

Mar 20220.2%

Jun 20221.2%

Sep 20221.4%

Dec 20220.5%

Mar 20230.9%

Jun 20232.9%

Sep 20233.1%

Dec 20232.6%

Mar 20243.1%

Jun 20246.2%

Sep 20245.6%

Dec 20244.2%

Mar 20255.3%

Jun 20258.0%

Sep 20257.8%

Dec 20254.4%

Mar 20267.0%

Jun 2026—

Tenaris S.A. · TS

Sep 20211.8%

Dec 20212.1%

Mar 20223.7%

Jun 20225.0%

Sep 20226.0%

Dec 20227.3%

Mar 20239.2%

Jun 20238.5%

Sep 20235.5%

Dec 20235.0%

Mar 20244.7%

Jun 20243.0%

Sep 20243.0%

Dec 20243.1%

Mar 20253.0%

Jun 20253.3%

Sep 20253.3%

Dec 20253.1%

Mar 20263.2%

Jun 2026—

Weatherford International plc · WFRD

Sep 20211.8%

Dec 20210.9%

Mar 20220.5%

Jun 20222.9%

Sep 20223.5%

Dec 20225.1%

Mar 20235.6%

Jun 20236.2%

Sep 20236.7%

Dec 20236.7%

Mar 20247.2%

Jun 20248.0%

Sep 20247.3%

Dec 20245.9%

Mar 20254.2%

Jun 20256.7%

Sep 20255.0%

Dec 20255.6%

Mar 20263.4%

Jun 20262.9%

ROCE change · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Archrock, Inc. · AROC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.4 pp

Dec 2022+0.4 pp

Mar 2023+0.9 pp

Jun 2023+1.2 pp

Sep 2023+1.4 pp

Dec 2023+1.3 pp

Mar 2024+1.3 pp

Jun 2024+0.4 pp

Sep 20240.0 pp

Dec 2024+0.7 pp

Mar 2025+0.7 pp

Jun 2025+0.6 pp

Sep 2025+0.9 pp

Dec 2025+0.7 pp

Mar 2026−0.7 pp

Jun 2026—

Baker Hughes Company · BKR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−0.3 pp

Dec 2022+0.6 pp

Mar 2023+0.7 pp

Jun 2023+2.2 pp

Sep 2023+1.9 pp

Dec 2023+0.7 pp

Mar 2024+1.1 pp

Jun 2024+1.5 pp

Sep 2024+1.4 pp

Dec 2024+1.1 pp

Mar 2025−0.4 pp

Jun 2025+0.5 pp

Sep 2025−1.0 pp

Dec 2025−1.4 pp

Mar 2026+1.8 pp

Jun 2026—

Cactus, Inc. · WHD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+3.1 pp

Dec 2022+2.0 pp

Mar 2023+0.9 pp

Jun 2023−0.5 pp

Sep 2023+2.2 pp

Dec 2023+1.6 pp

Mar 2024+0.2 pp

Jun 2024+1.5 pp

Sep 2024−2.3 pp

Dec 2024−1.9 pp

Mar 20250.0 pp

Jun 2025−1.9 pp

Sep 2025−1.6 pp

Dec 2025−1.1 pp

Mar 2026−1.9 pp

Jun 2026—

Halliburton Company · HAL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+2.3 pp

Dec 2022+2.2 pp

Mar 2023+2.4 pp

Jun 2023+3.4 pp

Sep 2023+0.8 pp

Dec 2023+0.3 pp

Mar 2024−0.2 pp

Jun 2024−0.2 pp

Sep 2024−1.2 pp

Dec 2024−0.9 pp

Mar 2025−3.0 pp

Jun 2025−1.7 pp

Sep 2025−2.7 pp

Dec 2025−1.0 pp

Mar 2026+1.3 pp

Jun 2026+20.5 pp

Kodiak Gas Services, Inc. · KGS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+2.0 pp

Dec 2022+2.0 pp

Mar 2023—

Jun 2023—

Sep 20230.0 pp

Dec 20230.0 pp

Mar 2024−2.0 pp

Jun 2024−2.6 pp

Sep 2024−0.2 pp

Dec 2024−0.1 pp

Mar 2025+0.5 pp

Jun 2025+0.9 pp

Sep 2025−0.2 pp

Dec 2025+0.3 pp

Mar 2026+0.1 pp

Jun 2026—

LandBridge Company LLC · LB

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023+7.6 pp

Dec 2023+0.9 pp

Mar 2024—

Jun 2024—

Sep 2024−6.9 pp

Dec 2024+0.7 pp

Mar 2025—

Jun 2025—

Sep 2025+2.9 pp

Dec 2025+0.1 pp

Mar 2026−2.5 pp

Jun 2026—

NOV Inc. · NOV

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+1.2 pp

Dec 2022+2.3 pp

Mar 2023+1.9 pp

Jun 2023+1.4 pp

Sep 2023+1.6 pp

Dec 2023−0.2 pp

Mar 2024+0.3 pp

Jun 2024+1.4 pp

Sep 2024−0.1 pp

Dec 2024+0.4 pp

Mar 2025−0.2 pp

Jun 2025−2.1 pp

Sep 2025−1.0 pp

Dec 2025−1.3 pp

Mar 2026−1.2 pp

Jun 2026—

Oceaneering International, Inc. · OII

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+2.2 pp

Dec 2022+3.7 pp

Mar 2023+1.9 pp

Jun 2023+1.8 pp

Sep 2023+0.8 pp

Dec 2023+0.3 pp

Mar 2024+0.7 pp

Jun 2024+0.6 pp

Sep 2024+0.6 pp

Dec 2024+1.9 pp

Mar 2025+2.2 pp

Jun 2025+1.1 pp

Sep 2025+0.6 pp

Dec 2025−1.3 pp

Mar 2026−1.4 pp

Jun 2026−0.1 pp

SLB N.V. · SLB

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+1.3 pp

Dec 2022+1.6 pp

Mar 2023+1.6 pp

Jun 2023+1.1 pp

Sep 2023+0.7 pp

Dec 2023+0.3 pp

Mar 2024+0.4 pp

Jun 2024+0.1 pp

Sep 20240.0 pp

Dec 2024−0.5 pp

Mar 2025−0.9 pp

Jun 2025−0.9 pp

Sep 2025−1.7 pp

Dec 2025−1.4 pp

Mar 2026−0.5 pp

Jun 2026−0.5 pp

TechnipFMC plc · FTI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.9 pp

Dec 2022+1.0 pp

Mar 2023+0.7 pp

Jun 2023+1.7 pp

Sep 2023+1.7 pp

Dec 2023+2.1 pp

Mar 2024+2.2 pp

Jun 2024+3.3 pp

Sep 2024+2.5 pp

Dec 2024+1.6 pp

Mar 2025+2.2 pp

Jun 2025+1.8 pp

Sep 2025+2.2 pp

Dec 2025+0.2 pp

Mar 2026+1.7 pp

Jun 2026—

Tenaris S.A. · TS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+4.2 pp

Dec 2022+5.2 pp

Mar 2023+5.5 pp

Jun 2023+3.5 pp

Sep 2023−0.5 pp

Dec 2023−2.3 pp

Mar 2024−4.5 pp

Jun 2024−5.5 pp

Sep 2024−2.5 pp

Dec 2024−1.9 pp

Mar 2025−1.7 pp

Jun 2025+0.3 pp

Sep 2025+0.3 pp

Dec 20250.0 pp

Mar 2026+0.2 pp

Jun 2026—

Weatherford International plc · WFRD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+1.7 pp

Dec 2022+4.2 pp

Mar 2023+5.1 pp

Jun 2023+3.3 pp

Sep 2023+3.2 pp

Dec 2023+1.6 pp

Mar 2024+1.6 pp

Jun 2024+1.8 pp

Sep 2024+0.6 pp

Dec 2024−0.8 pp

Mar 2025−3.0 pp

Jun 2025−1.3 pp

Sep 2025−2.3 pp

Dec 2025−0.3 pp

Mar 2026−0.8 pp

Jun 2026−3.8 pp

07 · compare level, then change

Valuation Against Growth & Quality

Innovex International, Inc. has the lowest Guarded PEG among the 30 Oil & Gas Equipment & Services companies compared here, at 0.1×. Bristow Group Inc. is next at 0.24×. Oceaneering International, Inc. has the lowest P/E at 11.6×, so level and change sit with different companies. 13 of 30 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Innovex International, Inc. has the lowest comparable Guarded PEG at 0.1×, 58.3% below Bristow Group Inc.. Only 13 of 30 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderInnovex International, Inc. · 0.1×

Gap58.3% versus #2 · Bristow Group Inc.

Persistence0/7 recent comparable periods

Coverage13/30 companies · 55 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.

Guarded PEGlowest PEG

1Innovex International, Inc. INVX0.1

2Bristow Group Inc. VTOL0.2

3Archrock, Inc. AROC0.3

4National Energy Services Reunited Corp. NESR0.4

5Tidewater Inc. TDW0.4

P/Elowest P/E

1Oceaneering International, Inc. OII11.6

2Bristow Group Inc. VTOL12.2

3Tidewater Inc. TDW14.0

4Tenaris S.A. TS15.2

5Weatherford International plc WFRD16.1

Valuation · company comparison

13/30 level · 28/30 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Guarded PEG	P/E	Reported
Baker Hughes Company BKR	2.9	19.5	Mar 2026
Enerflex Ltd. EFXT	2.3	31.3	Mar 2026
Kodiak Gas Services, Inc. KGS	2.0	78.8	Mar 2026
SLB N.V. SLB	1.9	22.5	Jun 2026
Select Water Solutions, Inc. WTTR	1.7	72.9	Mar 2026
Cactus, Inc. WHD	1.4	44.7	Mar 2026
Halliburton Company HAL	1.1	17.8	Jun 2026
Tenaris S.A. TS	0.9	15.2	Mar 2026
TechnipFMC plc FTI	0.7	26.4	Mar 2026
USA Compression Partners, LP USAC	0.7	28.0	Mar 2026
Weatherford International plc WFRD	0.6	16.1	Jun 2026
Solaris Energy Infrastructure, Inc. SEI	0.5	63.5	Mar 2026
Tidewater Inc. TDW	0.4	14.0	Mar 2026
National Energy Services Reunited Corp. NESR	0.4	33.0	Mar 2026
Oceaneering International, Inc. OII	0.4	11.6	Jun 2026
Archrock, Inc. AROC	0.3	18.9	Mar 2026
Bristow Group Inc. VTOL	0.2	12.2	Mar 2026
Liberty Energy Inc. LBRT	0.1	35.4	Jun 2026
Innovex International, Inc. INVX	0.1	32.5	Mar 2026
NOV Inc. NOV	—	78.4	Mar 2026
LandBridge Company LLC LB	—	71.2	Mar 2026
WaterBridge Infrastructure LLC WBI	—	1,040.6	Mar 2026
Expro Group Holdings N.V. XPRO	—	54.4	Mar 2026
Flowco Holdings Inc. FLOC	—	17.6	Mar 2026
Atlas Energy Solutions Inc. AESI	—	95.5	Mar 2026
Helix Energy Solutions Group, Inc. HLX	—	98.9	Mar 2026
ProPetro Holding Corp. PUMP	—	951.0	Mar 2026
RPC, Inc. RES	—	78.7	Mar 2026

Full 20-quarter history · every available company

Guarded PEG · reported quarter history

Showing the 12 largest of 19 companies with a series here. The remaining 7 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Archrock, Inc. · AROC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 20240.4

Mar 20250.5

Jun 20250.4

Sep 2025—

Dec 2025—

Mar 20260.3

Jun 2026—

Baker Hughes Company · BKR

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 20240.5

Dec 20240.3

Mar 2025—

Jun 20250.2

Sep 20250.6

Dec 2025—

Mar 20262.9

Jun 2026—

Cactus, Inc. · WHD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 20230.4

Dec 20230.4

Mar 20241.0

Jun 20240.4

Sep 20241.0

Dec 20242.6

Mar 20251.4

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Halliburton Company · HAL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 20230.6

Jun 2023—

Sep 20230.3

Dec 2023—

Mar 20240.4

Jun 20241.1

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Kodiak Gas Services, Inc. · KGS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 20240.6

Jun 2024—

Sep 2024—

Dec 20242.6

Mar 2025—

Jun 20253.9

Sep 2025—

Dec 20250.9

Mar 20262.0

Jun 2026—

Oceaneering International, Inc. · OII

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 20240.4

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

SLB N.V. · SLB

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 20230.4

Sep 20230.5

Dec 20230.8

Mar 20241.5

Jun 20241.3

Sep 20241.8

Dec 20241.9

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

TechnipFMC plc · FTI

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 20250.4

Dec 20251.0

Mar 20260.7

Jun 2026—

Tenaris S.A. · TS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 20230.1

Mar 20240.6

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 20260.9

Jun 2026—

Tidewater Inc. · TDW

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 20250.4

Jun 20250.4

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

USA Compression Partners, LP · USAC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 20251.4

Sep 20250.7

Dec 20251.8

Mar 20260.7

Jun 2026—

Weatherford International plc · WFRD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 20240.2

Dec 20240.6

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

P/E · reported quarter history

Showing the 12 largest of 28 companies with a series here. The remaining 16 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Archrock, Inc. · AROC

Sep 202145.8

Dec 202141.6

Mar 202254.3

Jun 202237.6

Sep 202224.7

Dec 202232.1

Mar 202325.7

Jun 202323.8

Sep 202323.8

Dec 202323.0

Mar 202423.7

Jun 202422.7

Sep 202422.2

Dec 202423.7

Mar 202522.2

Jun 202518.8

Sep 202517.5

Dec 202514.2

Mar 202618.9

Jun 2026—

Baker Hughes Company · BKR

Sep 2021107.5

Dec 2021—

Mar 2022107.1

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 202328.0

Sep 202321.3

Dec 202317.9

Mar 202418.7

Jun 202417.9

Sep 202416.2

Dec 202413.8

Mar 202515.0

Jun 202512.5

Sep 202516.8

Dec 202517.5

Mar 202619.5

Jun 2026—

Cactus, Inc. · WHD

Sep 202158.0

Dec 202145.9

Mar 202257.9

Jun 202232.5

Sep 202225.0

Dec 202227.9

Mar 202319.8

Jun 202321.0

Sep 202321.7

Dec 202317.7

Mar 202420.0

Jun 202418.3

Sep 202421.2

Dec 202421.1

Mar 202516.3

Jun 202516.5

Sep 202515.7

Dec 202519.0

Mar 202644.7

Jun 2026—

Halliburton Company · HAL

Sep 202148.0

Dec 202114.0

Mar 202221.9

Jun 202219.7

Sep 202212.8

Dec 202222.8

Mar 202314.7

Jun 202312.1

Sep 202313.9

Dec 202312.4

Mar 202413.6

Jun 202411.2

Sep 202410.1

Dec 20249.6

Mar 202510.6

Jun 20259.5

Sep 202516.3

Dec 202518.8

Mar 202621.4

Jun 202617.8

Kodiak Gas Services, Inc. · KGS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 202318.0

Sep 202344.7

Dec 202369.2

Mar 202425.8

Jun 202433.2

Sep 202461.7

Dec 202472.9

Mar 202570.4

Jun 202538.1

Sep 202546.2

Dec 202542.0

Mar 202678.8

Jun 2026—

LandBridge Company LLC · LB

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024966.9

Mar 2025475.2

Jun 2025265.2

Sep 2025164.6

Dec 202552.1

Mar 202671.2

Jun 2026—

NOV Inc. · NOV

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022539.3

Dec 202253.6

Mar 202322.0

Jun 202315.3

Sep 202316.6

Dec 20238.1

Mar 20247.8

Jun 20247.1

Sep 20245.9

Dec 20249.1

Mar 202510.2

Jun 202510.2

Sep 202513.3

Dec 202540.1

Mar 202678.4

Jun 2026—

Oceaneering International, Inc. · OII

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 202267.3

Mar 202336.0

Jun 202329.2

Sep 202334.3

Dec 202322.4

Mar 202422.1

Jun 202419.6

Sep 202418.8

Dec 202418.1

Mar 202512.3

Jun 202510.5

Sep 202510.8

Dec 20256.9

Mar 202610.5

Jun 202611.6

SLB N.V. · SLB

Sep 202125.3

Dec 202122.7

Mar 202228.1

Jun 202219.4

Sep 202217.3

Dec 202222.4

Mar 202318.3

Jun 202317.9

Sep 202320.2

Dec 202317.9

Mar 202418.2

Jun 202415.4

Sep 202413.5

Dec 202412.3

Mar 202514.2

Jun 202511.6

Sep 202513.3

Dec 202516.3

Mar 202622.4

Jun 202622.5

TechnipFMC plc · FTI

Sep 202126.9

Dec 2021197.3

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023167.8

Mar 202453.4

Jun 202424.0

Sep 202417.3

Dec 202415.2

Mar 202516.7

Jun 202516.3

Sep 202517.6

Dec 202519.4

Mar 202626.4

Jun 2026—

Tenaris S.A. · TS

Sep 202114.9

Dec 202111.2

Mar 202211.8

Jun 20228.2

Sep 20227.2

Dec 20228.1

Mar 20235.3

Jun 20234.8

Sep 20235.2

Dec 20235.2

Mar 20246.5

Jun 20246.5

Sep 20246.9

Dec 202410.4

Mar 202512.0

Jun 202510.2

Sep 20259.6

Dec 202510.5

Mar 202615.2

Jun 2026—

Weatherford International plc · WFRD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022141.4

Mar 202324.4

Jun 202319.1

Sep 202319.1

Dec 202317.3

Mar 202418.7

Jun 202418.2

Sep 202411.9

Dec 202410.6

Mar 20258.6

Jun 20257.8

Sep 202512.4

Dec 202513.2

Mar 202614.8

Jun 202616.1

08 · compare level, then change

Enterprise Value & Book Value

SLB N.V. has the lowest EV/EBITDA among the 30 Oil & Gas Equipment & Services companies compared here, at 4.06×. Halliburton Company is next at 4.61×. Helix Energy Solutions Group, Inc. has the lowest P/BV at 0.93×, so level and change sit with different companies. 28 of 30 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: SLB N.V. leads ev/ebitda at 4.06×; Helix Energy Solutions Group, Inc. leads p/bv at 0.93×.

LeaderSLB N.V. · 4.06×

Gap11.9% versus #2 · Halliburton Company

Persistence0/8 recent comparable periods

Coverage28/30 companies · 450 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.

EV/EBITDAlowest EV/EBITDA

1SLB N.V. SLB4.1

2Halliburton Company HAL4.6

3Enerflex Ltd. EFXT6.8

4Helix Energy Solutions Group, Inc. HLX6.8

5Flowco Holdings Inc. FLOC7.1

P/BVlowest P/BV

1Helix Energy Solutions Group, Inc. HLX0.9

2NOV Inc. NOV1.1

3Expro Group Holdings N.V. XPRO1.3

4Bristow Group Inc. VTOL1.3

5Atlas Energy Solutions Inc. AESI1.4

Enterprise and book valuation · company comparison

28/30 level · 28/30 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	EV/EBITDA	P/BV	Reported
LandBridge Company LLC LB	49.5	15.4	Mar 2026
WaterBridge Infrastructure LLC WBI	23.1	1.9	Mar 2026
Solaris Energy Infrastructure, Inc. SEI	22.7	5.3	Mar 2026
TechnipFMC plc FTI	20.4	8.2	Mar 2026
Kodiak Gas Services, Inc. KGS	18.3	4.3	Mar 2026
Atlas Energy Solutions Inc. AESI	16.3	1.4	Mar 2026
Baker Hughes Company BKR	14.0	3.1	Mar 2026
Innovex International, Inc. INVX	13.3	1.6	Mar 2026
Cactus, Inc. WHD	11.1	2.8	Mar 2026
ProPetro Holding Corp. PUMP	11.0	1.7	Mar 2026
USA Compression Partners, LP USAC	11.0	12.4	Mar 2026
NOV Inc. NOV	10.5	1.1	Mar 2026
Archrock, Inc. AROC	10.3	4.0	Mar 2026
Liberty Energy Inc. LBRT	10.2	2.2	Jun 2026
Select Water Solutions, Inc. WTTR	10.2	1.9	Mar 2026
Oceaneering International, Inc. OII	10.2	3.5	Jun 2026
Tenaris S.A. TS	9.9	1.7	Mar 2026
National Energy Services Reunited Corp. NESR	9.4	2.2	Mar 2026
Bristow Group Inc. VTOL	8.3	1.3	Mar 2026
Tidewater Inc. TDW	8.0	3.0	Mar 2026
Expro Group Holdings N.V. XPRO	7.4	1.3	Mar 2026
Weatherford International plc WFRD	7.2	3.3	Jun 2026
Flowco Holdings Inc. FLOC	7.1	2.6	Mar 2026
RPC, Inc. RES	7.1	1.4	Mar 2026
Helix Energy Solutions Group, Inc. HLX	6.8	0.9	Mar 2026
Enerflex Ltd. EFXT	6.8	2.2	Mar 2026
Halliburton Company HAL	4.6	2.6	Jun 2026
SLB N.V. SLB	4.1	2.9	Jun 2026
NextDecade Corporation NEXT	—	-66.1	Mar 2026

Full 20-quarter history · every available company

EV/EBITDA · reported quarter history

Showing the 12 largest of 28 companies with a series here. The remaining 16 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Archrock, Inc. · AROC

Sep 20217.7

Dec 20218.6

Mar 20229.6

Jun 20229.3

Sep 20228.2

Dec 20229.5

Mar 20239.4

Jun 20239.0

Sep 20238.9

Dec 20239.1

Mar 20249.8

Jun 202410.2

Sep 202411.1

Dec 202411.6

Mar 202511.5

Jun 202510.5

Sep 20259.4

Dec 20258.4

Mar 202610.3

Jun 2026—

Baker Hughes Company · BKR

Sep 202113.1

Dec 202111.0

Mar 202215.9

Jun 202214.5

Sep 202211.5

Dec 202215.1

Mar 202314.0

Jun 202312.2

Sep 202311.5

Dec 20239.5

Mar 20248.8

Jun 202411.1

Sep 20247.9

Dec 20248.9

Mar 202511.8

Jun 202510.0

Sep 202510.2

Dec 202510.4

Mar 202614.0

Jun 2026—

Cactus, Inc. · WHD

Sep 202121.9

Dec 202118.9

Mar 202225.1

Jun 202214.6

Sep 202211.7

Dec 202213.8

Mar 202312.8

Jun 202311.9

Sep 202311.8

Dec 20239.3

Mar 20249.7

Jun 20249.5

Sep 202411.0

Dec 202411.1

Mar 20258.5

Jun 20258.4

Sep 20257.8

Dec 202510.4

Mar 202611.1

Jun 2026—

Halliburton Company · HAL

Sep 202113.1

Dec 202110.2

Mar 202214.7

Jun 202212.8

Sep 20229.1

Dec 202211.6

Mar 20238.6

Jun 20237.6

Sep 20238.6

Dec 20237.6

Mar 202410.2

Jun 20248.8

Sep 20248.1

Dec 20246.1

Mar 20258.8

Jun 20258.1

Sep 202511.2

Dec 20258.7

Mar 202615.4

Jun 20264.6

Kodiak Gas Services, Inc. · KGS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 202311.3

Sep 20238.4

Dec 20236.0

Mar 202410.4

Jun 202412.5

Sep 202412.1

Dec 20248.9

Mar 202514.1

Jun 202514.1

Sep 202515.1

Dec 20258.5

Mar 202618.3

Jun 2026—

LandBridge Company LLC · LB

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 202580.0

Sep 202544.2

Dec 202535.9

Mar 202649.5

Jun 2026—

NOV Inc. · NOV

Sep 2021—

Dec 202136.0

Mar 202237.3

Jun 202227.3

Sep 202220.1

Dec 202216.9

Mar 202312.5

Jun 20239.9

Sep 202310.7

Dec 202310.1

Mar 20249.9

Jun 20248.0

Sep 20246.6

Dec 20245.6

Mar 20255.8

Jun 20255.7

Sep 20256.3

Dec 20257.6

Mar 202610.5

Jun 2026—

Oceaneering International, Inc. · OII

Sep 20218.7

Dec 20218.1

Mar 202212.1

Jun 202210.0

Sep 20226.7

Dec 20228.8

Mar 20238.4

Jun 20238.3

Sep 202310.6

Dec 20238.6

Mar 20249.6

Jun 20249.1

Sep 20248.8

Dec 20248.2

Mar 20256.6

Jun 20255.8

Sep 20256.6

Dec 20256.0

Mar 20269.3

Jun 202610.2

SLB N.V. · SLB

Sep 20212.9

Dec 2021—

Mar 20223.6

Jun 20223.0

Sep 20222.7

Dec 2022—

Mar 20233.3

Jun 20233.1

Sep 20233.5

Dec 2023148.7

Mar 20243.1

Jun 20242.7

Sep 20242.3

Dec 202462.3

Mar 20252.3

Jun 20252.0

Sep 20252.2

Dec 2025—

Mar 20263.0

Jun 20264.1

TechnipFMC plc · FTI

Sep 2021—

Dec 202110.0

Mar 202212.2

Jun 202210.2

Sep 202210.4

Dec 202211.6

Mar 202312.9

Jun 202313.0

Sep 202313.5

Dec 202311.0

Mar 202412.1

Jun 202410.8

Sep 20249.7

Dec 20249.6

Mar 20259.6

Jun 20259.5

Sep 20259.6

Dec 20259.5

Mar 202620.4

Jun 2026—

Tenaris S.A. · TS

Sep 202112.3

Dec 20219.4

Mar 202210.2

Jun 20226.7

Sep 20225.3

Dec 20225.7

Mar 20233.5

Jun 20233.2

Sep 20233.2

Dec 20233.6

Mar 20244.6

Jun 20244.1

Sep 20244.5

Dec 20246.8

Mar 20256.6

Jun 20256.1

Sep 20255.6

Dec 20256.8

Mar 20269.9

Jun 2026—

Weatherford International plc · WFRD

Sep 20216.9

Dec 20216.5

Mar 20227.3

Jun 20225.2

Sep 20226.1

Dec 20226.7

Mar 20236.3

Jun 20236.2

Sep 20237.1

Dec 20237.1

Mar 20248.0

Jun 20247.8

Sep 20245.5

Dec 20244.7

Mar 20254.1

Jun 20254.0

Sep 20255.5

Dec 20256.1

Mar 20267.3

Jun 20267.2

P/BV · reported quarter history

Showing the 12 largest of 29 companies with a series here. The remaining 17 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Archrock, Inc. · AROC

Sep 20211.4

Dec 20211.3

Mar 20221.6

Jun 20221.5

Sep 20221.2

Dec 20221.6

Mar 20231.8

Jun 20231.9

Sep 20232.3

Dec 20232.8

Mar 20243.5

Jun 20243.5

Sep 20242.8

Dec 20243.3

Mar 20253.4

Jun 20253.1

Sep 20253.3

Dec 20253.1

Mar 20264.0

Jun 2026—

Baker Hughes Company · BKR

Sep 20211.5

Dec 20211.5

Mar 20222.3

Jun 20222.0

Sep 20221.5

Dec 20222.1

Mar 20232.0

Jun 20232.1

Sep 20232.3

Dec 20232.2

Mar 20242.2

Jun 20242.2

Sep 20242.2

Dec 20242.4

Mar 20252.6

Jun 20252.1

Sep 20252.7

Dec 20252.4

Mar 20263.1

Jun 2026—

Cactus, Inc. · WHD

Sep 20214.9

Dec 20214.8

Mar 20226.9

Jun 20224.7

Sep 20224.3

Dec 20225.4

Mar 20233.6

Jun 20233.6

Sep 20234.0

Dec 20233.4

Mar 20243.7

Jun 20243.7

Sep 20244.0

Dec 20243.7

Mar 20252.8

Jun 20252.6

Sep 20252.3

Dec 20252.6

Mar 20262.8

Jun 2026—

Halliburton Company · HAL

Sep 20213.4

Dec 20213.1

Mar 20224.9

Jun 20224.0

Sep 20222.9

Dec 20224.5

Mar 20233.4

Jun 20233.4

Sep 20233.9

Dec 20233.4

Mar 20243.6

Jun 20243.0

Sep 20242.5

Dec 20242.3

Mar 20252.1

Jun 20251.7

Sep 20252.0

Dec 20252.3

Mar 20263.0

Jun 20262.6

Kodiak Gas Services, Inc. · KGS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 20235.0

Sep 20231.2

Dec 20231.4

Mar 20241.9

Jun 20241.8

Sep 20241.9

Dec 20242.6

Mar 20252.4

Jun 20252.3

Sep 20252.6

Dec 20252.7

Mar 20264.3

Jun 2026—

LandBridge Company LLC · LB

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 202429.4

Dec 202423.3

Mar 202512.5

Jun 202519.4

Sep 202515.0

Dec 202511.1

Mar 202615.4

Jun 2026—

NOV Inc. · NOV

Sep 20211.0

Dec 20211.1

Mar 20221.6

Jun 20221.4

Sep 20221.3

Dec 20221.6

Mar 20231.4

Jun 20231.2

Sep 20231.5

Dec 20231.3

Mar 20241.2

Jun 20241.2

Sep 20241.0

Dec 20240.9

Mar 20250.9

Jun 20250.7

Sep 20250.8

Dec 20250.9

Mar 20261.1

Jun 2026—

Oceaneering International, Inc. · OII

Sep 20212.5

Dec 20212.2

Mar 20223.1

Jun 20222.3

Sep 20221.7

Dec 20223.4

Mar 20233.4

Jun 20233.5

Sep 20234.6

Dec 20233.4

Mar 20243.8

Jun 20243.7

Sep 20243.6

Dec 20243.7

Mar 20252.8

Jun 20252.5

Sep 20252.7

Dec 20252.2

Mar 20263.2

Jun 20263.5

SLB N.V. · SLB

Sep 20213.1

Dec 20212.8

Mar 20223.8

Jun 20223.1

Sep 20223.0

Dec 20224.3

Mar 20233.9

Jun 20233.8

Sep 20234.3

Dec 20233.7

Mar 20243.8

Jun 20243.2

Sep 20242.8

Dec 20242.5

Mar 20252.9

Jun 20252.3

Sep 20252.0

Dec 20252.2

Mar 20262.9

Jun 2026—

TechnipFMC plc · FTI

Sep 20211.0

Dec 20210.8

Mar 20221.0

Jun 20220.9

Sep 20221.2

Dec 20221.6

Mar 20231.9

Jun 20232.4

Sep 20232.9

Dec 20232.8

Mar 20243.6

Jun 20243.8

Sep 20243.4

Dec 20244.0

Mar 20254.4

Jun 20254.4

Sep 20254.8

Dec 20255.3

Mar 20268.2

Jun 2026—

Tenaris S.A. · TS

Sep 20211.1

Dec 20211.0

Mar 20221.4

Jun 20221.2

Sep 20221.2

Dec 20221.5

Mar 20231.1

Jun 20231.1

Sep 20231.2

Dec 20231.2

Mar 20241.3

Jun 20241.0

Sep 20241.0

Dec 20241.2

Mar 20251.2

Jun 20251.2

Sep 20251.1

Dec 20251.2

Mar 20261.7

Jun 2026—

Weatherford International plc · WFRD

Sep 20212.2

Dec 20214.1

Mar 20225.9

Jun 20223.2

Sep 20225.1

Dec 20226.8

Mar 20237.5

Jun 20237.4

Sep 20238.8

Dec 20237.6

Mar 20247.7

Jun 20247.3

Sep 20244.6

Dec 20244.0

Mar 20252.9

Jun 20252.4

Sep 20253.2

Dec 20253.3

Mar 20263.9

Jun 20263.3

09 · let price answer last

Market action

National Energy Services Reunited Corp. has the strongest one-year price move in Oil & Gas Equipment & Services at +299.2%. Oceaneering International, Inc. leads on Mansfield relative strength against the S&P 500 at +43.9%. 17 of 28 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-07-28.

Every price line is indexed to 100 over the chosen window. Mansfield relative strength compares a price ratio with its own 52-week average; zero separates leadership from lagging.

Price and relative strength

Price is rebased to 100 inside the selected window. Pair ratio rebases each selected company against one chosen denominator.

Before the conclusion · check the blind spots

What can make this comparison misleading?

This Oil & Gas Equipment & Services comparison names 4 specific ways its own evidence can mislead, all listed below. All 30 companies here report on comparable dates, so no rank carries a stale marker. A high growth rate can still be a low-base artefact.

Keep these limits visible

A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.

10 · the complete set

Which companies are included?

All 30 companies in the canonical Oil & Gas Equipment & Services membership are listed below, largest market value first — nothing is silently dropped, even where a company reports too little to rank. The charts above default to a selective view; this register is the complete set, with each company's own latest reporting date beside it.

AHEAD means the company is beating the index by 5% or more over three months. LAGGING, FUNDAMENTALS UP means it is 20% or more behind over a year while its trailing twelve-month earnings grew 20% or more. Both rules are fixed and applied the same way in every sector.

Company	Market value	Price	Priced to	Latest fundamentals
SLB N.V. SLB	$74.2B	$50.0	2026-07-28	Jun 2026
Baker Hughes Company BKR	$58.0B	$58.5	2026-07-28	Mar 2026
TechnipFMC plc FTI	$28.9B	$72.4	2026-07-28	Mar 2026
Tenaris S.A. TS19/26 WEEKS	$28.0B	$55.6	2026-07-28	Mar 2026
Halliburton Company HAL18/26 WEEKS	$26.0B	$31.2	2026-07-28	Jun 2026
NOV Inc. NOV	$7.1B	$19.8	2026-07-28	Mar 2026
Archrock, Inc. AROC	$6.2B	$35.3	2026-07-28	Mar 2026
Weatherford International plc WFRD	$6.0B	$83.6	2026-07-28	Jun 2026
LandBridge Company LLC LBAHEAD	$5.8B	$75.0	2026-07-28	Mar 2026
Kodiak Gas Services, Inc. KGS23/26 WEEKS	$5.6B	$56.5	2026-07-28	Mar 2026
Oceaneering International, Inc. OIIAHEAD21/26 WEEKS	$4.8B	$48.0	2026-07-28	Jun 2026
Cactus, Inc. WHD	$4.3B	$53.1	2026-07-28	Mar 2026
WaterBridge Infrastructure LLC WBIAHEAD23/26 WEEKS	$3.9B	$32.0	2026-07-28	Mar 2026
USA Compression Partners, LP USAC	$3.8B	$25.9	2026-07-28	Mar 2026
Tidewater Inc. TDW	$3.7B	$74.7	2026-07-28	Mar 2026
Solaris Energy Infrastructure, Inc. SEI21/26 WEEKS	$3.6B	$47.3	2026-07-28	Mar 2026
Liberty Energy Inc. LBRT	$2.9B	$17.7	2026-07-28	Jun 2026
EagleRock Land, LLC EROK	$2.7B	$20.7	2026-07-28	Mar 2026
Enerflex Ltd. EFXT22/26 WEEKS	$2.7B	$21.7	2026-07-28	Mar 2026
National Energy Services Reunited Corp. NESRAHEAD24/26 WEEKS	$2.6B	$25.6	2026-07-28	Mar 2026
Select Water Solutions, Inc. WTTRAHEAD26/26 WEEKS	$2.5B	$18.0	2026-07-28	Mar 2026
Innovex International, Inc. INVX	$1.8B	$25.6	2026-07-28	Mar 2026
Expro Group Holdings N.V. XPRO	$1.7B	$15.4	2026-07-28	Mar 2026
Flowco Holdings Inc. FLOC	$1.7B	$19.3	2026-07-28	Mar 2026
NextDecade Corporation NEXT	$1.6B	$6.1	2026-07-28	Mar 2026
Atlas Energy Solutions Inc. AESI24/26 WEEKS	$1.4B	$11.0	2026-07-28	Mar 2026
Helix Energy Solutions Group, Inc. HLX	$1.3B	$9.1	2026-07-28	Mar 2026
Bristow Group Inc. VTOL	$1.3B	$45.4	2026-07-28	Mar 2026
ProPetro Holding Corp. PUMP18/26 WEEKS	$1.3B	$10.7	2026-07-28	Mar 2026
RPC, Inc. RES18/26 WEEKS	$1.1B	$5.2	2026-07-28	Mar 2026

Evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 30 Oil & Gas Equipment & Services companies, normalized to a common $ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-07-28.

FundamentalsThrough Jun 2026 · up to 20 quarters per company

Market dataThrough 2026-07-28 · weekly price and relative-strength history

Derived metricsGrowth, changes, CAPEX intensity, net debt, guarded PEG and P/BV÷ROE are calculated only when their inputs are comparable.

Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.

Questions investors ask · short, speakable answers

Oil & Gas Equipment & Services company comparison FAQs

These 18 answers restate the Oil & Gas Equipment & Services comparison above in question form. Every one is computed from the same 30 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-07-28. Nothing here is estimated, and none of it is a recommendation.

Which Oil & Gas Equipment & Services company is the biggest?

Baker Hughes Company is the largest, with trailing-twelve-month revenue of $27,893 million, ahead of Tenaris S.A. at $12,159 million. That covers 22 of 30 companies with comparable reporting through Mar 2026.

Which Oil & Gas Equipment & Services company is growing fastest?

Solaris Energy Infrastructure, Inc. has the fastest revenue growth at 86.5% year on year, across 22 of 30 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

Which Oil & Gas Equipment & Services company has the best profit margins?

LandBridge Company LLC has the highest operating margin at 57.2%, from 29 of 30 comparable companies. EagleRock Land, LLC shows the biggest recent improvement, at +18.2 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

Which Oil & Gas Equipment & Services company makes the most profit?

Baker Hughes Company earns the most, at $3,153 million of trailing-twelve-month net profit, from 23 of 30 comparable companies. Solaris Energy Infrastructure, Inc. has the fastest profit growth at 100%, though growth off a small or recovering profit base overstates how much has actually changed.

Which Oil & Gas Equipment & Services company earns the highest return on capital?

Halliburton Company leads on return on capital employed at 24.2%, across 30 of 30 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which Oil & Gas Equipment & Services stock is the cheapest?

On guarded PEG — where a LOWER number is cheaper — Innovex International, Inc. screens cheapest at 0.1×. Only 13 of 30 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Which Oil & Gas Equipment & Services company has the strongest balance sheet?

Cactus, Inc. carries the lowest comparable gross debt at $55 million, from 30 of 30 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.

Which Oil & Gas Equipment & Services company is investing most in new capacity?

NextDecade Corporation reports the largest capital spending at $1,177 million, across 30 of 30 companies. Spending consumes cash before it earns anything, so treat the ranking as a diligence queue: check commissioning, utilisation and the return earned on the completed assets before reading spend as value creation.

Is the Oil & Gas Equipment & Services sector beating the market?

Oil & Gas Equipment & Services has outperformed S&P 500 by 38.8% over the last 52 weeks and 15% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 17 of 28 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which Oil & Gas Equipment & Services stock has the strongest price momentum?

Oceaneering International, Inc. has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which Oil & Gas Equipment & Services company scores highest for research priority?

TechnipFMC plc scores 68.6 out of 100 with 82% evidence confidence, from 23.5 points on growth and earnings, 14.5 on capital efficiency, 13.1 on valuation and 17.5 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many Oil & Gas Equipment & Services companies does this comparison cover, and over what period?

It compares 30 listed companies over up to 20 reported quarters of fundamentals and 6 fiscal years of capital allocation, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the Oil & Gas Equipment & Services sector?

The 30 Oil & Gas Equipment & Services companies on this page carry $296,502 million of combined market value. SLB N.V. is the largest at $74,170 million, about 25% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-28.

What is the Oil & Gas Equipment & Services sector's P/E ratio?

The median price-to-earnings ratio across the 30 Oil & Gas Equipment & Services companies on this page is 33×, measured on the 28 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-28.

How is the Oil & Gas Equipment & Services sector performing?

17 of the 28 covered Oil & Gas Equipment & Services companies are beating S&P 500 on Mansfield relative strength. The sector itself is 38.8% ahead of S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-07-28.

How many Oil & Gas Equipment & Services stocks are listed in the US?

This comparison covers 30 listed Oil & Gas Equipment & Services companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Jun 2026. Membership is the full industry list — nothing is dropped for having thin data.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.