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PHX Energy Services Corp (PHX) Fair Value & Analysis

Energy · CA · Market cap C$472M

PE PHX Energy Services Corp PHX · TO
PriceC$12.40
Fair ValueC$12.48
Upside+0.7%
Quality59/100
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Expensive Growth
Thin margins · 6.2% net margin
Low debt · generates free cash flow
7.74% dividend yield
Ranks above peers (9/14)
Narrow moat 42/100
Evidence: High Range C$8.15 – C$17.95 Share as image

Fair value as of: Aug 13, 2026

From 25 valuation models · updated yesterday

Share price +16.9% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (C$8.15 to C$17.95) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

C$13.51 C$2.19 Fair Value C$12.48 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range C$2.19 – C$13.51 · fair‑value band C$8.15 – C$17.95 · the C$12.40 price screens below the C$12.48 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

PHX Energy Services Corp (PHX) currently trades at C$12.40, while our model-based Fair Value estimate is C$12.48, implying the stock looks roughly 0.7% fairly valued today. The Quality Score stands at 59/100 (solid quality), in the Energy sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, PHX Energy Services Corp generated revenue of C$700M at a net margin of 6.2%. Revenue declined 5.1% year over year. It earns a return on equity of 19.0%. Net debt stands at C$37.8M. Fundamentals as of Aug 13, 2026

Our scenario range runs from C$8.15 (bear case) to C$17.95 (bull case); at C$12.40, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 11% below its 52-week high and 91% above its 52-week low, currently above its 200-day average. For context, the median of 10 Energy peers we cover trades at -48% fair-value upside, at 1%, PHX screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF C$0.0800 C$0.2600 C$0.5200 80
Residual Income C$6.51 C$8.06 C$21.26 76
ROIC Compounder C$4.88 C$6.30 C$7.69 72
All 25 models by family
DCF Models
FCF DCF C$0.0900 C$0.2400 C$0.5900 38
Owner Earnings C$11.44 C$22.15 C$40.81 31
5Y Revenue Exit C$5.16 C$11.72 C$21.63 39
5Y EBITDA Exit C$6.12 C$13.87 C$24.69 41
5Y P/E Exit C$7.72 C$17.56 C$29.98 38
10Y Revenue Exit C$3.03 C$8.37 C$17.60 36
10Y EBITDA Exit C$3.88 C$9.90 C$20.80 37
10Y P/E Exit C$4.90 C$12.47 C$25.23 35
Earnings-Based
Graham-Dodd C$8.15 C$50.38 C$70.32 54
Lynch FV C$14.47 C$20.67 C$26.87 50
PEG = 1.0 C$14.47 C$20.67 C$26.87 46
EPV C$4.88 C$5.57 C$6.14 59
Dividend Discount
Gordon GGM C$6.18 C$11.14 C$15.34 70
DDM Multi-Stage C$6.18 C$10.18 C$11.90 61
Multiples
P/E Multiple C$12.58 C$16.78 C$20.97 63
P/S Multiple C$13.99 C$18.65 C$23.31 58
P/B Multiple C$6.77 C$9.03 C$11.29 55
EV/EBIT C$6.35 C$8.51 C$10.67 53
EV/EBITDA C$9.84 C$13.17 C$16.49 54
EV/Revenue C$7.73 C$11.10 C$14.48 43
Asset-Based
NCAV (Graham) C$2.51 C$3.36 C$5.02 50
Growth DCF
Growth DCF C$0.0800 C$0.2600 C$0.5200 80
Economic Profit
Residual Income C$6.51 C$8.06 C$21.26 76
ROIC Compounder C$4.88 C$6.30 C$7.69 72
Growth Earnings
Growth-Adj P/E C$17.60 C$25.15 C$32.69 68

Widest divergence: Growth Earnings (C$25.15) versus Growth DCF (C$0.2600). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) C$700M
Revenue growth (YoY) -5.1%
Net margin 6.2%
Return on equity 19.0%
Free cash flow C$863K FY2025
P/E ratio 13.9
More key figures
Operating margin 1.3%
EPS (TTM) C$0.8900
Dividend yield 7.7%
EPS growth (YoY) -54.5%
Net debt C$37.8M FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 59/100

Of which business quality 59 · Market factors (momentum, volatility) 75

Profitability 68
Margins and returns on capital today
Quality Growth 36
Are margins and returns improving?
Cashflow 29
Earnings quality: real cash, not paper profit
Fin. Strength 69
Balance sheet, leverage, solvency risk
Investment 60
Disciplined investing over empire-building
Low Volatility 41
Calm price path (market factor)
Momentum 88
Price trend over the last 3–12 months (market factor)
52W Momentum 91
Distance to the 52-week high (market factor)
Net Issuance 99
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

PHX Energy Services Corp. provides horizontal and directional drilling services, rents performance drilling motors, and sells motor equipment and parts to oil and natural gas exploration and development companies in Canada, the United States, the Middle East regions, and internationally.

Full company description

PHX Energy Services Corp. provides horizontal and directional drilling services, rents performance drilling motors, and sells motor equipment and parts to oil and natural gas exploration and development companies in Canada, the United States, the Middle East regions, and internationally. It offers Atlas motors; Velocity Real-Time Systems that provide downhole guidance systems; Echo system; PowerDrive Orbit RSS, a rotary steerable system; performance drilling motors; P-360 Positive Pulse MWD System, a measurement while drilling (MWD) tool; and E-360 EM MWD System, a MWD tool that transmits electric signals through geological formations. The company provides 360 CV MWD System, a clear vision tool, which surveys inclination and gamma in real-time closer to the bit; 360 RWD System, a resistivity while drilling sub; and North Seeking Gyro that offers real-time QA/QC checks downhole. In addition, it offers survey management and gyro surveying services. The company was formerly known as Phoenix Technology Income Fund and changed its name to PHX Energy Services Corp. PHX Energy Services Corp. was founded in 1995 and is headquartered in Calgary, Canada.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PHX Energy Services Corp reported revenue of C$710M in FY2025 versus C$350M in FY2021, a compound +19.3%/yr. Reported net income was C$54.7M in FY2025, compounding +24.6%/yr from FY2021.

Growth Quality 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
C$710M
Latest YoY
+7.6%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+9.8%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+24.9%
Avg. growth/yr (23Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+18.2%
Revenue +19.3%/yr
FY21 C$350M
FY22 C$536M
FY23 C$656M
FY24 C$660M
FY25 C$710M
Net income +24.6%/yr
FY21 C$22.7M
FY22 C$44.3M
FY23 C$98.6M
FY24 C$54.6M
FY25 C$54.7M

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Cite: Fair Value Calculator (2026). "PHX Energy Services Corp Fair Value". https://www.fairvalue-calculator.com/stock/PHX

Peer Group

Oil & Gas Drilling · 31 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 59 · Top 25%
Fair Value upside +1% · Above median
Return on equity (TTM) 19% · Top 25%
Return on assets 3% · Below median
Net margin (TTM) 6% · Above median
Operating margin (TTM) 1% · Bottom 25%
Revenue growth -5% · Below median
Dividend yield (TTM) 7.7% · Above median
Debt / equity 0.16× · Lower than 75% of peers

Valuation Multiples vs Oil & Gas Drilling median · lower = cheaper

P/E (TTM) 13.9× · Cheaper than median
P/B 1.49× · Pricier than median
P/S (TTM) 0.49× · Cheaper than median
P/FCF 394.4× · Pricier than 75% of peers
EV/EBITDA 4.1× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 34 · sector 0
FUTURE 0 · sector 0
PAST 76 · sector 17
HEALTH 92 · sector 84
DIVIDEND 100 · sector 72

Insider activity: 45/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Oil & gas

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Oil & Gas Drilling stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Noble Corporation NE $44.08 $23.09 -48%
Sinopec Oilfield Service Corporation 600871 ¥2.22 ¥0.4900 -78%
Transocean Ltd RIG $5.70 $2.16 -62%
Valaris Limited VAL $85.21 $58.91 -31%
Patterson-UTI Energy, Inc PTEN $11.06 $12.20 +10%
Helmerich & Payne, Inc HP $42.97 $9.25 -78%
Seadrill Limited SDRL $46.72 $10.17 -78%
Borr Drilling Limited BORR kr 36.50 kr 27.01 -26%
Nabors Industries Ltd NBR $89.70 $209.14 +133%
Sable Offshore Corp SOC $4.38 $1.87 -57%

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Frequently asked questions

Is PHX Energy Services Corp (PHX) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of C$12.48 versus a price of C$12.40, about +1% (fairly valued).
What is the fair value of PHX?
Our model-based fair value for PHX Energy Services Corp is C$12.48 (as of Aug 13, 2026), built from audited fundamentals. The current price is C$12.40.
What is the quality score of PHX?
PHX Energy Services Corp has a Quality Score of 59/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of PHX Energy Services Corp (PHX)?
PHX Energy Services Corp reported trailing-twelve-month revenue of about C$700M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of PHX?
The net profit margin of PHX Energy Services Corp is about 6.2%, meaning it keeps roughly 6.2% of revenue as net income. Based on the latest reported figures.
Does PHX Energy Services Corp pay a dividend?
PHX Energy Services Corp currently shows a dividend yield of about 6.87% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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