PHX Energy Services (TSE:PHX)
TSX:PHX
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PHX Energy Services
(TSX:PHX)
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Rating:66Neutral
Price Target:
C$12.00
▲(7.14% Upside)
Action:ReiteratedDate:05/09/26
The score is primarily supported by a very strong, low-leverage balance sheet and still-positive profitability, but held back by weakening operating trends and especially volatile/negative TTM free cash flow. Technical indicators add further pressure with weak momentum, while valuation is helped by a reasonable P/E and a high dividend yield.
Positive Factors
Very Low Leverage / Strong Balance Sheet
PHX's extremely low trailing leverage (debt-to-equity ~0.02) creates durable financial flexibility in a cyclical drilling industry. This conservative capital structure lowers default risk, preserves liquidity for downturns, and enables opportunistic reinvestment or shareholder distributions over the medium term.
Negative Factors
Volatile and Negative Trailing Free Cash Flow
Negative TTM free cash flow despite positive net income signals cash generation weakness from higher capex or working-capital drag. This reduces financial flexibility, constrains investment or payout capacity, and raises reliance on external funding if the trend persists across cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
Very Low Leverage / Strong Balance Sheet
PHX's extremely low trailing leverage (debt-to-equity ~0.02) creates durable financial flexibility in a cyclical drilling industry. This conservative capital structure lowers default risk, preserves liquidity for downturns, and enables opportunistic reinvestment or shareholder distributions over the medium term.
Read all positive factors
PHX Energy Services (PHX) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$503.17M
Dividend Yield10.44%
Average Volume (3M)155.69K
Price to Earnings (P/E)16.8
Beta (1Y)0.68
Revenue Growth1.82%
EPS Growth-23.16%
CountryCA
Employees924
SectorEnergy
Sector Strength52
IndustryOil & Gas Drilling
Share Statistics
EPS (TTM)0.97
Shares Outstanding45,371,075
10 Day Avg. Volume127,715
30 Day Avg. Volume155,688
Financial Highlights & Ratios
PEG Ratio1.82
Price to Book (P/B)1.49
Price to Sales (P/S)0.48
P/FCF Ratio394.28
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$13.38Price Target Upside19.42% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.95
Revenue Forecast (FY)C$739.67M
PHX Energy Services Business Overview & Revenue Model
Company Description
PHX Energy Services Corp. provides horizontal and directional drilling technology and services to oil and natural gas exploration and development, and production companies in Canada, the United States, Russia, Albania, and the Middle East. It offe...
How the Company Makes Money
PHX makes money by providing directional drilling services and charging customers (oil and gas operators) for the use of its drilling technology, tools, and field personnel on a per-job and/or time-based basis (e.g., daily rental/service charges t...
PHX Energy Services Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
82
Very Positive
Cash Flow
56
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 699.78M | 709.60M | 659.66M | 656.34M | 535.74M | 349.92M |
| Gross Profit | 101.04M | 110.96M | 124.49M | 150.10M | 109.64M | 71.65M |
| EBITDA | 85.39M | 101.27M | 123.05M | 150.08M | 72.88M | 58.20M |
| Net Income | 43.49M | 54.71M | 54.62M | 98.58M | 44.31M | 22.72M |
Balance Sheet | ||||||
| Total Assets | 472.82M | 443.16M | 423.29M | 385.49M | 375.22M | 262.49M |
| Cash, Cash Equivalents and Short-Term Investments | 18.99M | 29.11M | 14.16M | 16.43M | 18.25M | 24.83M |
| Total Debt | 4.13M | 66.93M | 52.18M | 44.77M | 62.41M | 35.87M |
| Total Liabilities | 249.10M | 214.12M | 201.08M | 175.53M | 198.35M | 128.06M |
| Stockholders Equity | 223.72M | 229.04M | 222.21M | 209.97M | 176.88M | 134.43M |
Cash Flow | ||||||
| Free Cash Flow | -16.31M | 863.00K | 11.39M | 31.11M | -37.70M | 8.27M |
| Operating Cash Flow | 61.70M | 73.16M | 96.90M | 96.72M | 37.08M | 45.43M |
| Investing Cash Flow | -41.92M | -34.16M | -49.16M | -20.26M | -47.39M | -23.63M |
| Financing Cash Flow | -14.36M | -23.41M | -51.11M | -77.95M | 2.71M | -22.72M |
PHX Energy Services Technical Analysis
Neutral
11.20
Price Trends
11.35
Negative
9.39
Positive
8.28
Positive
Market Momentum
-0.08
Positive
35.01
Neutral
15.50
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:PHX, the sentiment is Neutral. The current price of 11.2 is below the 20-day moving average (MA) of 12.51, below the 50-day MA of 11.35, and above the 200-day MA of 8.28, indicating a neutral trend. The MACD of -0.08 indicates Positive momentum. The RSI at 35.01 is Neutral, neither overbought nor oversold. The STOCH value of 15.50 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:PHX.
PHX Energy Services Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | C$171.04M | -14.79 | 7.65% | ― | -9.81% | -85.26% | |
71 Outperform | C$531.32M | 21.33 | 4.57% | ― | -11.45% | 184.51% | |
66 Neutral | C$503.17M | 16.82 | 19.38% | 10.44% | 1.82% | -23.16% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
59 Neutral | C$101.87M | 15.34 | -2.38% | ― | -11.45% | -314.67% | |
57 Neutral | C$707.49M | -15.01 | -2.94% | ― | -4.09% | -238.21% | |
57 Neutral | C$239.27M | 13.32 | 6.39% | ― | -10.73% | -75.09% |
* Energy Sector Average
TSE:PHX
PHX Energy Services
11.09
3.88
53.75%
TSE:AKT.A
AKITA Drilling Ltd
4.43
2.66
150.28%
TSE:ACX
Cathedral Energy Services
6.21
1.28
25.96%
TSE:CFW
Calfrac Well Services
5.32
1.97
58.76%
TSE:ESI
Ensign Energy Services
3.84
1.73
81.99%
TSE:WRG
Western Energy Services
3.01
0.89
41.98%
PHX Energy Services Corporate Events
Dividends
PHX Energy Services Declares Quarterly Dividend of $0.20 per Share
Positive
Mar 13, 2026
PHX Energy Services Corp., a technology-focused oil and natural gas services provider specializing in horizontal and directional drilling in Canada and the U.S., offers its expertise and proprietary drilling technologies to exploration and develop...
Business Operations and StrategyDividendsFinancial Disclosures
PHX Energy Posts Record 2025 Results and Declares Special Dividend
Positive
Feb 25, 2026
PHX Energy Services reported record fourth-quarter and full-year 2025 revenue, driven by strong demand for its Rotary Steerable Systems and continued growth in motor rental income. Consolidated Q4 revenue reached $183.9 million and annual revenue ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.