The Dubai Electricity and Water Authority (PJSC) (DFM:DEWA) First-Quarter Results Are Out And Analysts Have Published New Forecasts
May 16
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Emirati (ADX) Utilities Sector Analysis
UpdatedJun 16, 2025
DataAggregated Company Financials
Companies4
- 7D1.5%
- 3M10.3%
- 1Y19.3%
- YTD2.1%
In the last week, the Utilities industry is up 1.5%, with Abu Dhabi National Energy Company PJSC up 2.4%. This takes the industry's 12 month performance to a gain of 19%. As for the next few years, earnings are expected to grow by 7.6% 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 |
|---|---|---|---|---|---|---|
| Mon, 16 Jun 2025 | د.إ539.0b | د.إ92.5b | د.إ15.3b | 19.2x | 35.2x | 5.8x |
| Wed, 14 May 2025 | د.إ510.5b | د.إ91.8b | د.إ15.5b | 18.6x | 33x | 5.6x |
| Fri, 11 Apr 2025 | د.إ499.3b | د.إ91.8b | د.إ15.5b | 17.9x | 32.3x | 5.4x |
| Sun, 09 Mar 2025 | د.إ493.4b | د.إ91.8b | د.إ15.5b | 18x | 31.9x | 5.4x |
| Tue, 04 Feb 2025 | د.إ507.7b | د.إ90.3b | د.إ16.2b | 18.9x | 31.3x | 5.6x |
| Thu, 02 Jan 2025 | د.إ563.4b | د.إ90.3b | د.إ16.2b | 20x | 34.7x | 6.2x |
| Sat, 30 Nov 2024 | د.إ485.7b | د.إ90.3b | د.إ16.2b | 19.3x | 29.9x | 5.4x |
| Mon, 28 Oct 2024 | د.إ468.7b | د.إ87.9b | د.إ16.2b | 23.1x | 28.9x | 5.3x |
| Wed, 25 Sep 2024 | د.إ467.8b | د.إ87.9b | د.إ16.2b | 22.8x | 28.8x | 5.3x |
| Fri, 23 Aug 2024 | د.إ439.4b | د.إ87.9b | د.إ16.2b | 22.6x | 27.1x | 5x |
| Sun, 21 Jul 2024 | د.إ450.5b | د.إ87.4b | د.إ16.0b | 22.6x | 28.1x | 5.2x |
| Tue, 18 Jun 2024 | د.إ451.7b | د.إ87.4b | د.إ16.0b | 22.1x | 28.2x | 5.2x |
| Thu, 16 May 2024 | د.إ465.1b | د.إ86.8b | د.إ25.6b | 17.5x | 18.2x | 5.4x |
| Sat, 13 Apr 2024 | د.إ481.7b | د.إ86.3b | د.إ25.7b | 18.5x | 18.7x | 5.6x |
| Mon, 11 Mar 2024 | د.إ493.8b | د.إ86.3b | د.إ25.7b | 19x | 19.2x | 5.7x |
| Wed, 07 Feb 2024 | د.إ504.2b | د.إ84.3b | د.إ25.2b | 18.7x | 20x | 6x |
| Fri, 05 Jan 2024 | د.إ521.8b | د.إ84.3b | د.إ25.2b | 19.6x | 20.7x | 6.2x |
| Sun, 03 Dec 2023 | د.إ509.8b | د.إ84.3b | د.إ25.2b | 19.3x | 20.2x | 6x |
| Tue, 31 Oct 2023 | د.إ481.5b | د.إ84.5b | د.إ26.0b | 17.2x | 18.5x | 5.7x |
| Thu, 28 Sep 2023 | د.إ559.1b | د.إ84.5b | د.إ26.0b | 18.6x | 21.5x | 6.6x |
| Sat, 26 Aug 2023 | د.إ539.0b | د.إ84.5b | د.إ26.0b | 18.2x | 20.8x | 6.4x |
| Mon, 24 Jul 2023 | د.إ532.2b | د.إ83.5b | د.إ26.9b | 18.3x | 19.8x | 6.4x |
| Wed, 21 Jun 2023 | د.إ523.6b | د.إ83.5b | د.إ26.9b | 17.4x | 19.5x | 6.3x |
| Fri, 19 May 2023 | د.إ499.8b | د.إ83.5b | د.إ26.9b | 16.8x | 18.6x | 6x |
| Sun, 16 Apr 2023 | د.إ507.2b | د.إ82.3b | د.إ17.1b | 16.5x | 29.6x | 6.2x |
| Tue, 14 Mar 2023 | د.إ520.8b | د.إ81.5b | د.إ16.7b | 15.9x | 31.1x | 6.4x |
| Thu, 09 Feb 2023 | د.إ501.2b | د.إ81.7b | د.إ16.9b | 15.8x | 29.6x | 6.1x |
| Sat, 07 Jan 2023 | د.إ541.5b | د.إ81.7b | د.إ16.9b | 14.8x | 32x | 6.6x |
| Mon, 05 Dec 2022 | د.إ531.0b | د.إ81.7b | د.إ16.9b | 15.1x | 31.4x | 6.5x |
| Wed, 02 Nov 2022 | د.إ546.6b | د.إ76.4b | د.إ14.9b | 17.6x | 36.6x | 7.2x |
| Fri, 30 Sep 2022 | د.إ401.0b | د.إ74.3b | د.إ14.4b | 27.6x | 27.9x | 5.4x |
| Sun, 28 Aug 2022 | د.إ270.5b | د.إ74.3b | د.إ14.4b | 18.8x | 18.8x | 3.6x |
| Tue, 26 Jul 2022 | د.إ263.7b | د.إ72.3b | د.إ12.8b | 20.6x | 20.6x | 3.6x |
| Thu, 23 Jun 2022 | د.إ267.0b | د.إ72.3b | د.إ12.8b | 20.8x | 20.9x | 3.7x |
Price to Earnings Ratio
20.9x
Current Industry PE
- Investors are optimistic on the Emirian Utilities industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 35.2x which is higher than its 3-year average PE of 26.0x.
- The industry is trading close to its 3-year average PS ratio of 5.7x.
Past Earnings Growth
- The earnings for companies in the Utilities industry have grown 6.1% per year over the last three years.
- Revenues for these companies have grown 8.6% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Trends
Which industries have driven the changes within the Emirati Utilities sector?
| AE Market | -1.58% | |
| Utilities | 1.48% | |
| Other Utilities | 1.58% | |
| Water Utilities | -0.54% | |
Industry PE
- Investors are most optimistic about the Other Utilities industry which is trading above its 3-year average PE ratio of 26.8x.
- Analysts are expecting annual earnings growth of 7.6%, which is higher than its past year's earnings decline of 6.0% per year.
- Investors are most pessimistic about the Water Utilities industry, which is trading close to its 3-year average of 17.2x.
Forecasted Growth
- Analysts are most optimistic on the Other Utilities industry, expecting annual earnings growth of 7.6% over the next 5 years.
- This is better than its past earnings decline of 6.0% per year.
- In contrast, the Water Utilities industry is expected to see its earnings grow by 7.1% 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.إ3.37 | 2.4% +د.إ9.0b | 20.4% | PE54.2x | |
| EMPOWER Emirates Central Cooling Systems | د.إ1.62 | 0.6% +د.إ100.0m | 6.6% | PE18.5x |