Based on key financial metrics such as the price-to-sales ratio, shareholder yield and the price-earnings ratio, the following 5 stocks made the list for top value stocks in the Energy Equipment & Services industry. Those looking for value stocks to add to their portfolio may want to use this list as a starting point for further investment research.

Why Focus on Undervalued Energy Equipment & Services Stocks?

Value investors seek to buy stocks at a discount to their intrinsic value. Long-term returns show that such strategies are advantageous. Value stocks, as a group, tend to outperform growth stocks over extended periods of time. Typically, value investors perform financial analysis of numerous metrics, don’t follow the herd and are long-term investors.

AAII’s A+ Investor Value Grade is derived from a stock’s Value Score. The Value Score is the percentile rank of the average of the percentile ranks of the price-to-sales ratio, price-earnings ratio, enterprise-value-to-EBITDA (EV/EBITDA) ratio, shareholder yield, price-to-book-value ratio and price-to-free-cash-flow ratio. The score is variable, meaning it can consider all six ratios or, should any of the six ratios not be valid, the remaining ratios that are valid. To be assigned a Value Score, stocks must have a valid (non-null) ratio and corresponding ranking for at least two of the six valuation ratios.

What Goes Into AAII’s Value Grade?

Stock evaluation requires access to huge amounts of data as well as the knowledge and time to sift through it all, make sense of financial ratios, read income statements and analyze recent stock movement. AAII created A+ Investor, a robust data suite that condenses data research in an actionable and customizable way suitable for investors of all knowledge levels, to help investors with that task.

AAII’s proprietary stock grades come with A+ Investor. These offer intuitive A–F grades for more than just value. It is possible for a stock to appear cheap based on one valuation metric but appear expensive on another. It is also possible for one valuation ratio to be associated with outperforming stocks during certain periods of time but not others. Some stocks may even have null values for certain metrics like the price-earnings ratio or the price-to-book ratio but not others. An example of this would be a company with losses instead of profits or a negative book value because of heavy borrowing. Negative earnings or book value result in non-meaningful ratios that are left blank or null.

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5 Undervalued Energy Equipment & Services Stocks

Of course, there are countless value stocks that are worth mentioning, but this is a concise list of the top 5 undervalued stocks in the Energy Equipment & Services industry for Tuesday, March 03, 2026. Let’s take a closer look at their individual scores to see how they measure up against each other and the Energy Equipment & Services industry median.

The Value Grade is assigned based on how each stock’s composite valuation compares to all other stocks.

The process for assigning grades starts with each variable for a given stock. The percentile rankings for all valid ratios that a stock has are calculated. So, for instance, a stock could have a price-to-book ranking in the 43rd percentile, a price-earnings ranking in the 67th percentile, a price-to-sales ranking in the 23rd percentile, etc. Then, those rankings are averaged for each stock. (A minimum of two valid variables are required, though all six will be used if available.)

Once the average of the individual variables is calculated, that average is ranked against all stocks. Put another way, each stock’s composite valuation is compared to all other stocks. These ranks are then sorted into quintiles from the cheapest 20% (a grade of A) to the most expensive 20% (a grade of F).

As always, we recommend that you conduct proper due diligence and research before investing in any security. We also suggest that investors utilize numerous grades, not just value, when it comes to deciding whether a company is a good fit for their allocation needs.

North American Construction Group Ltd.’s Value Grade

Value Grade:

North American Construction Group Ltd. provides mining and heavy civil construction services to customers in the resource development and industrial construction sectors in Australia, Canada, and the United States. The company operates Heavy Equipment - Canada, Heavy Equipment - Australia, and Other segments. It offers mine management services for a thermal coal mine; and construction and operations support services in Canadian oil sands region. The company also provides fully maintained heavy equipment rentals at metallurgical and thermal coal mines; heavy equipment rentals to iron ore, gold and lithium producers; and heavy equipment maintenance, component remanufacturing, and full equipment rebuild services to mining companies and other heavy equipment operators, as well as supplies production-critical components to the mining and construction industry. The company was formerly known as North American Energy Partners Inc. and changed its name to North American Construction Group Ltd. in April 2018. North American Construction Group Ltd. was incorporated in 1953 and is headquartered in Acheson, Canada.

Stocks with a Value Score from 81 to 100 are considered deep value, those with a score between 61 and 80 are value and so on.

North American Construction Group Ltd. has a Value Score of 76, which is considered to be undervalued.

When you look at North American Construction Group Ltd.’s price-to-sales ratio at 0.37 compared to the industry median at 1.15, this company has a lower price relative to revenue compared to its peers. This could make North American Construction Group Ltd.’s stock more attractive for value investors.

North American Construction Group Ltd.’s price-earnings ratio is 18.60 compared to the industry median at 26.90. This means it has a lower share price relative to earnings compared to its peers. This could make North American Construction Group Ltd. more attractive for value investors.

Now, let’s assess North American Construction Group Ltd.’s EV/EBITDA ratio, also known as enterprise multiple. At 4.6, when compared to the industry median of 7.9, the company may be considered undervalued in relation to its peers. Value investors could use the enterprise multiple to identify stocks that are considered overvalued or undervalued relative to their industry.

Shareholder yield is the sum of a stock’s dividend yield (paid over previous 12 months minus special dividends) and the percentage of net share buybacks over the previous 12 months. North American Construction Group Ltd.’s shareholder yield is lower than its industry median ratio of 0.10%. Value investors may look for an attractive shareholder yield because it can be a powerful tool for identifying if the company has a good management team.

As one of the most common value metrics, the price-to-book ratio evaluates a company’s current market price relative to its book value. North American Construction Group Ltd.’s price-to-book ratio is lower than its industry median ratio of 1.76. This could make North American Construction Group Ltd. more attractive to investors looking for a new addition to their portfolio.

NOV Inc.’s Value Grade

Value Grade:

NOV Inc. designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors in the United States and internationally. It operates in two segments, Energy Equipment, and Energy Products and Services. The Energy Products and Services segment offers drill bits and borehole enlargement products; independent drilling and intervention downhole tools equipment; frac plugs, frac sleeves, toe initiation burst port systems, and recyclable setting tools; electric submersible pumps, high viscosity pumps, and surface pumps; tubular coating and inspection services for drill-pipe and other oil country tubular goods; solids control and waste management equipment and services; data and digital solutions; precision-engineered drill pipe and drill-stem equipment; connectors and integral thread solutions, including conductor strings, surface casing, and liners; and composite pipe, tanks, and structures. Its Energy Equipment segment provides drilling equipment, such as land rigs, complete offshore drilling packages, and rig components; capital equipment, related consumables, and digital products for hydraulic stimulation, coiled tubing, and wireline services; marine and construction solutions; processing solutions for the separation and treatment of oil, gas, solids, seawater, and produced water production; flexible subsea pipe systems; cavity pumps, specialized mixers and heat exchangers; and reciprocating, multistage, and progressive cavity pumps, midstream products, including closures, transfer pumps, chokes and valves, as well as artificial lift support systems that include production BOPs and stuffing boxes. The company was formerly known as National Oilwell Varco, Inc. and changed its name to NOV Inc. in January 2021. NOV Inc. was founded in 1862 and is based in Houston, Texas.

Stocks with a Value Score from 81 to 100 are considered deep value, those with a score between 61 and 80 are value and so on.

NOV Inc. has a Value Score of 78, which is considered to be undervalued.

NOV Inc.’s price-earnings ratio is 51.4 compared to the industry median at 26.9. This means that it has a higher price relative to its earnings compared to its peers. This makes NOV Inc. less attractive for value investors.

NOV Inc.’s price-to-book ratio is higher than its peers. This could make NOV Inc. less attractive for value investors when compared to the industry median at 1.76.

You can read more about NOV Inc.’s key financial metrics like shareholder yield, price-to-free-cash-flow and EV/EBITDA ratio, or learn more about its Momentum and Growth Grades, by subscribing to A+ Investor.

Oceaneering International, Inc.’s Value Grade

Value Grade:

Oceaneering International, Inc. provides engineered services and products and robotic solutions to the offshore energy, defense, aerospace, and manufacturing industries in the United States, Africa, the United Kingdom, Norway, Brazil, Asia, Australia, and internationally. It operates through five segments: Subsea Robotics, Manufactured Products, Offshore Projects Group, Integrity Management & Digital Solutions, and Aerospace and Defense Technologies. The Subsea Robotics segment offers remotely operated vehicles (ROVs) for drill support and vessel-based services, including subsea hardware installation, construction, pipeline inspection, survey and facilities inspection, maintenance, and repair; ROV tooling; and survey services comprising hydrographic survey and positioning services and autonomous underwater vehicles for geoscience. Its Manufactured Products segment provides distribution and connection systems, such as production control umbilicals and field development hardware and pipeline connection and repair systems; connectors and subsea and topside control valves primarily to the energy industry; and autonomous mobile robotic technology to various industries. The Offshore Projects Group segment offers subsea installation and intervention, including riserless light well intervention services, inspection, maintenance and repair services; installation and workover control systems and ROV workover control systems; diving services; project management and engineering; and drill pipe riser services and systems and wellhead load relief solutions. Its Integrity Management & Digital Solution segment provides asset integrity management services, as well as software, digital, and connectivity solutions for the energy industry. The Aerospace and Defense Technologies segment offers services and products, such as engineering and related manufacturing in defense and space exploration activities. The company was founded in 1964 and is headquartered in Houston, Texas.

Stocks with a Value Score from 81 to 100 are considered deep value, those with a score between 61 and 80 are value and so on.

Oceaneering International, Inc. has a Value Score of 69, which is considered to be undervalued.

Oceaneering International, Inc.’s price-earnings ratio is 10.3 compared to the industry median at 26.9. This means that it has a lower price relative to its earnings compared to its peers. This makes Oceaneering International, Inc. more attractive for value investors.

Oceaneering International, Inc.’s price-to-book ratio is lower than its peers. This could make Oceaneering International, Inc. more attractive for value investors when compared to the industry median at 1.76.

You can read more about Oceaneering International, Inc.’s key financial metrics like shareholder yield, price-to-free-cash-flow and EV/EBITDA ratio, or learn more about its Momentum and Growth Grades, by subscribing to A+ Investor.

Seadrill Limited’s Value Grade

Value Grade:

Seadrill Limited provides offshore drilling services to the oil and gas industry worldwide. The company owns and operates drill ships and semi-submersible rigs for operations in shallow and ultra-deep water in benign and harsh environments. It serves oil super-majors, state-owned national oil companies, and independent oil and gas companies. The company was formerly known as Seadrill 2021 Limited. Seadrill Limited was incorporated in 2005 and is based in Houston, Texas.

Stocks with a Value Score from 81 to 100 are considered deep value, those with a score between 61 and 80 are value and so on.

Seadrill Limited has a Value Score of 75, which is considered to be undervalued.

Seadrill Limited’s price-to-book ratio is higher than its peers. This could make Seadrill Limited less attractive for value investors when compared to the industry median at 1.76.

You can read more about Seadrill Limited’s key financial metrics like shareholder yield, price-to-free-cash-flow and EV/EBITDA ratio, or learn more about its Momentum and Growth Grades, by subscribing to A+ Investor.

Expro Group Holdings N.V.’s Value Grade

Value Grade:

Expro Group Holdings N.V. provides energy services in North and Latin America, Europe and Sub-Saharan Africa, the Middle East and North Africa, and the Asia-Pacific. It provides well construction products and services, such as technology solutions in tubular running services, tubular products, cementing, drilling, and wellbore cleanup; and well management services comprising well flow management, subsea well access, and well intervention and integrity solutions. The company serves exploration and production companies in onshore and offshore environments. Expro Group Holdings N.V. was founded in 1938 and is based in Houston, Texas.

Stocks with a Value Score from 81 to 100 are considered deep value, those with a score between 61 and 80 are value and so on.

Expro Group Holdings N.V. has a Value Score of 65, which is considered to be undervalued.

Expro Group Holdings N.V.’s price-earnings ratio is 38.9 compared to the industry median at 26.9. This means that it has a higher price relative to its earnings compared to its peers. This makes Expro Group Holdings N.V. less attractive for value investors.

Expro Group Holdings N.V.’s price-to-book ratio is higher than its peers. This could make Expro Group Holdings N.V. less attractive for value investors when compared to the industry median at 1.76.

You can read more about Expro Group Holdings N.V.’s key financial metrics like shareholder yield, price-to-free-cash-flow and EV/EBITDA ratio, or learn more about its Momentum and Growth Grades, by subscribing to A+ Investor.

Other Energy Equipment & Services Stock Grades

Value is just one of the five Stock Grades included in our A+ Investor service. AAII members can see the top-graded stocks—those with grades of A or B for value, growth, momentum, earnings estimate revisions and quality—on the A+ Stock Grades Screener.

Also, if you want full access to all of AAII’s premium services, you can subscribe to one convenient bundled plan called AAII Platinum where you can try out A+ Investor, AAII Dividend Investing, the Stock Superstars Report, Growth Investing and VMQ Stocks. With the other premium services, you can dive deep into additional metrics, portfolios, commentary and information about Energy Equipment & Services stocks as well as other industrys.

Choosing Which of the 5 Best Energy Equipment & Services Stocks Is Right for You

Choosing which value stocks to invest in will ultimately depend on your individual goals and allocation; however, comparing similar value stocks in the same industry can help you analyze which might be better investments for you in the long run. So, let’s take a look at the Value Grade for all of our stocks.

• North American Construction Group Ltd. stock has a Value Grade of B.
• NOV Inc. stock has a Value Grade of B.
• Oceaneering International, Inc. stock has a Value Grade of B.
• Seadrill Limited stock has a Value Grade of B.
• Expro Group Holdings N.V. stock has a Value Grade of B.

Now that you have a bit more background about each of the 5 undervalued stocks in the Energy Equipment & Services industry as well as their overall grades, it’s time for you to conduct additional research to see if these could fit your portfolio needs based on your goals and risk tolerance. AAII can help you figure out both and identify which investments align with what works best for you.

We do so through a program of education that teaches you to invest for yourself and become an effective manager of your own wealth—no more relying on others for your financial independence. You can rely on AAII for timeless articles on financial planning and stock-picking, unbiased research and actionable analysis that makes you a better investor.

A+ Investor adds to that qualitative teaching by giving you a powerful data suite that helps you whittle down investment decisions to find stocks, exchange-traded funds (ETFs) or mutual funds that meet your needs.

Additional Resources About Energy Equipment & Services Stocks

Want to learn more about Energy Equipment & Services stocks to see if they could be the right investment for you? Check out some additional resources and articles to help you on your financial journey.

• 5 Undervalued Energy Equipment & Services Stocks for Tuesday, March 03
• Which Is a Better Investment, Enerflex Ltd. or Kodiak Gas Services, Inc. Stock?
• Which Is a Better Investment, Helmerich & Payne, Inc. or Kodiak Gas Services, Inc. Stock?
• Which Is a Better Investment, Kodiak Gas Services, Inc. or Liberty Energy Inc. Stock?

AAII Disclaimer

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