Narrative Update • Jul 03
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Emirati (ADX) Utilities Sector Analysis
UpdatedJul 04, 2026
DataAggregated Company Financials
Companies4
- 7D1.1%
- 3M10.2%
- 1Y-14.5%
- YTD-12.7%
Over the last 7 days, the Utilities industry has dropped 1.6%, driven by Dubai Electricity and Water Authority (PJSC) declining 0.4%. However, the industry is down 14% over the past year. As for the next few years, earnings are expected to grow by 6.8% per annum.
Sector Valuation and Performance
Has the Emirati Utilities Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 04 Jul 2026 | د.إ460.2b | د.إ93.7b | د.إ17.7b | 16.4x | 26x | 4.9x |
| Mon, 01 Jun 2026 | د.إ420.5b | د.إ93.7b | د.إ17.7b | 16.4x | 23.8x | 4.5x |
| Wed, 29 Apr 2026 | د.إ422.6b | د.إ93.5b | د.إ17.2b | 16.5x | 24.5x | 4.5x |
| Fri, 27 Mar 2026 | د.إ436.8b | د.إ93.5b | د.إ17.2b | 16.1x | 25.3x | 4.7x |
| Sun, 22 Feb 2026 | د.إ504.6b | د.إ93.0b | د.إ16.9b | 18.7x | 29.8x | 5.4x |
| Tue, 20 Jan 2026 | د.إ506.7b | د.إ94.6b | د.إ16.4b | 18.2x | 30.9x | 5.4x |
| Thu, 18 Dec 2025 | د.إ557.1b | د.إ94.6b | د.إ16.4b | 17.1x | 34x | 5.9x |
| Sat, 15 Nov 2025 | د.إ541.9b | د.إ94.6b | د.إ15.7b | 17x | 34.6x | 5.7x |
| Mon, 13 Oct 2025 | د.إ542.8b | د.إ94.2b | د.إ14.9b | 18.8x | 36.5x | 5.8x |
| Wed, 10 Sep 2025 | د.إ552.2b | د.إ94.2b | د.إ14.9b | 18.7x | 37.1x | 5.9x |
| Fri, 08 Aug 2025 | د.إ536.6b | د.إ92.6b | د.إ15.3b | 19.5x | 35x | 5.8x |
| Sun, 06 Jul 2025 | د.إ538.3b | د.إ92.5b | د.إ15.3b | 19.6x | 35.2x | 5.8x |
| Tue, 03 Jun 2025 | د.إ527.1b | د.إ92.5b | د.إ15.3b | 18.8x | 34.5x | 5.7x |
| Thu, 01 May 2025 | د.إ514.0b | د.إ91.8b | د.إ15.5b | 18.5x | 33.2x | 5.6x |
| Sat, 29 Mar 2025 | د.إ542.0b | د.إ91.8b | د.إ15.5b | 17.8x | 35x | 5.9x |
| Mon, 24 Feb 2025 | د.إ504.6b | د.إ91.4b | د.إ15.5b | 18.9x | 32.5x | 5.5x |
| Wed, 22 Jan 2025 | د.إ509.1b | د.إ90.3b | د.إ16.2b | 19.1x | 31.4x | 5.6x |
| Fri, 20 Dec 2024 | د.إ505.4b | د.إ90.3b | د.إ16.2b | 19.3x | 31.2x | 5.6x |
| Sun, 17 Nov 2024 | د.إ473.3b | د.إ90.2b | د.إ16.2b | 18.7x | 29.2x | 5.2x |
| Tue, 15 Oct 2024 | د.إ483.9b | د.إ87.9b | د.إ16.2b | 22.5x | 29.8x | 5.5x |
| Thu, 12 Sep 2024 | د.إ441.0b | د.إ87.9b | د.إ16.2b | 22.5x | 27.2x | 5x |
| Sat, 10 Aug 2024 | د.إ440.9b | د.إ88.1b | د.إ15.9b | 23.2x | 27.7x | 5x |
| Mon, 08 Jul 2024 | د.إ464.5b | د.إ87.4b | د.إ16.0b | 22.3x | 29x | 5.3x |
| Wed, 05 Jun 2024 | د.إ435.3b | د.إ87.4b | د.إ16.0b | 22.7x | 27.2x | 5x |
| Fri, 03 May 2024 | د.إ451.2b | د.إ86.3b | د.إ25.7b | 17.7x | 17.5x | 5.2x |
| Sun, 31 Mar 2024 | د.إ485.0b | د.إ86.3b | د.إ25.7b | 18.8x | 18.9x | 5.6x |
| Tue, 27 Feb 2024 | د.إ495.0b | د.إ86.0b | د.إ25.5b | 19x | 19.4x | 5.8x |
| Thu, 25 Jan 2024 | د.إ515.4b | د.إ84.3b | د.إ25.2b | 19.8x | 20.4x | 6.1x |
| Sat, 23 Dec 2023 | د.إ508.9b | د.إ84.3b | د.إ25.2b | 19.1x | 20.2x | 6x |
| Mon, 20 Nov 2023 | د.إ518.3b | د.إ84.3b | د.إ25.2b | 20.3x | 20.5x | 6.1x |
| Wed, 18 Oct 2023 | د.إ515.7b | د.إ84.5b | د.إ26.0b | 18x | 19.9x | 6.1x |
| Fri, 15 Sep 2023 | د.إ551.1b | د.إ84.5b | د.إ26.0b | 18.2x | 21.2x | 6.5x |
| Sun, 13 Aug 2023 | د.إ536.9b | د.إ83.9b | د.إ26.4b | 18.4x | 20.4x | 6.4x |
| Tue, 11 Jul 2023 | د.إ534.2b | د.إ83.5b | د.إ26.9b | 18.7x | 19.9x | 6.4x |
Price to Earnings Ratio
19.9x
Current Industry PE
- Investors are relatively neutral on the Emirian Utilities industry at the moment, indicating that they anticipate long term growth rates to remain steady.
- The industry is trading close to its 3-year average PE ratio of 27.7x.
- The 3-year average PS ratio of 5.6x is higher than the industry's current PS ratio of 4.9x.
Past Earnings Growth
- The earnings for companies in the Utilities industry have declined 13% per year over the last three years.
- Meanwhile revenues for these companies have grown 3.9% per year.
- This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.
Industry Trends
Which industries have driven the changes within the Emirati Utilities sector?
| AE Market | 0.27% | |
| Utilities | 1.12% | |
| Other Utilities | 1.28% | |
| Water Utilities | -1.59% | |
Industry PE
- Investors are most optimistic about the Other Utilities industry, which is trading close to its 3-year average PE ratio of 28.7x.
- Analysts are expecting annual earnings growth of 6.6%, which is lower than the prior year's growth of 18.4% per year.
- Investors are most pessimistic about the Water Utilities industry, which is trading close to its 3-year average of 17.6x.
Forecasted Growth
- Analysts are most optimistic on the Water Utilities industry, expecting annual earnings growth of 10% over the next 5 years.
- This is better than its past earnings decline of 2.3% per year.
- In contrast, the Other Utilities industry is expected to see its earnings grow by 6.6% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| TAQA Abu Dhabi National Energy Company PJSC | د.إ2.65 | 1.5% +د.إ4.5b | -20.4% | PE40x | |
| DEWA Dubai Electricity and Water Authority (PJSC) | د.إ2.77 | 0.7% +د.إ1.0b | -0.7% | PE15.8x |
