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Australian (ASX) Energy Sector Analysis

UpdatedJan 27, 2026
DataAggregated Company Financials
Companies105
  • 7D3.5%
  • 3M5.9%
  • 1Y2.0%
  • YTD5.7%

Over the last 7 days, the Energy industry has risen 3.5%, driven by gains in Santos and Woodside Energy Group of 8.2% and 3.5%, respectively. Meanwhile, Invictus Energy actually underperformed within the industry, shrinking 58% in the last week. Despite this gain, the industry's performance has been flat over the past year. As for the next few years, earnings are expected to grow by 10.0% per annum.

Sector Valuation and Performance

Has the Australian Energy Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 27 Jan 2026AU$119.9bAU$108.9bAU$6.6b14.1x18.3x1.1x
Thu, 25 Dec 2025AU$111.4bAU$109.8bAU$6.7b12.9x16.5x1x
Sat, 22 Nov 2025AU$113.6bAU$111.1bAU$7.0b13x16.2x1x
Mon, 20 Oct 2025AU$108.0bAU$110.7bAU$7.0b12.4x15.5x1x
Wed, 17 Sep 2025AU$116.2bAU$110.0bAU$7.0b15.2x16.7x1.1x
Fri, 15 Aug 2025AU$120.6bAU$112.7bAU$9.0b13.7x13.5x1.1x
Sun, 13 Jul 2025AU$114.5bAU$112.2bAU$8.9b15.4x12.8x1x
Tue, 10 Jun 2025AU$105.6bAU$112.5bAU$9.0b13.2x11.8x0.9x
Thu, 08 May 2025AU$96.9bAU$112.6bAU$9.1b13.1x10.7x0.9x
Sat, 05 Apr 2025AU$93.0bAU$114.3bAU$9.5b13.5x9.8x0.8x
Mon, 03 Mar 2025AU$109.6bAU$113.8bAU$9.3b10.7x11.8x1x
Wed, 29 Jan 2025AU$114.9bAU$112.1bAU$6.4b12.4x17.8x1x
Fri, 27 Dec 2024AU$111.7bAU$112.2bAU$6.5b11.9x17.3x1x
Sun, 24 Nov 2024AU$115.5bAU$110.9bAU$6.2b12.8x18.6x1x
Tue, 22 Oct 2024AU$118.1bAU$110.1bAU$6.1b12x19.4x1.1x
Thu, 19 Sep 2024AU$112.1bAU$109.7bAU$6.0b11x18.8x1x
Sat, 17 Aug 2024AU$124.6bAU$112.7bAU$7.1b7.5x17.6x1.1x
Mon, 15 Jul 2024AU$137.0bAU$112.4bAU$7.4b7.8x18.4x1.2x
Wed, 12 Jun 2024AU$131.7bAU$113.1bAU$7.6b9.1x17.4x1.2x
Fri, 10 May 2024AU$135.0bAU$113.2bAU$7.6b7.2x17.8x1.2x
Sun, 07 Apr 2024AU$140.0bAU$113.2bAU$7.6b7.9x18.5x1.2x
Tue, 05 Mar 2024AU$135.2bAU$114.3bAU$8.1b10.8x16.7x1.2x
Thu, 01 Feb 2024AU$144.6bAU$129.2bAU$19.5b6.2x7.4x1.1x
Sat, 30 Dec 2023AU$136.4bAU$127.9bAU$19.0b5.8x7.2x1.1x
Mon, 27 Nov 2023AU$133.8bAU$129.1bAU$19.4b5.2x6.9x1x
Wed, 25 Oct 2023AU$142.2bAU$130.6bAU$19.9b6x7.1x1.1x
Fri, 22 Sep 2023AU$143.1bAU$130.2bAU$19.8b4.7x7.2x1.1x
Sun, 20 Aug 2023AU$146.1bAU$128.4bAU$22.8b6.2x6.4x1.1x
Tue, 18 Jul 2023AU$138.8bAU$127.0bAU$22.9b5.6x6.1x1.1x
Thu, 15 Jun 2023AU$134.1bAU$127.1bAU$22.9b6.1x5.8x1.1x
Sat, 13 May 2023AU$145.6bAU$129.7bAU$24.2b6.5x6x1.1x
Mon, 10 Apr 2023AU$147.4bAU$129.8bAU$24.2b6.8x6.1x1.1x
Wed, 08 Mar 2023AU$165.1bAU$144.0bAU$23.7b6.3x7x1.1x
Fri, 03 Feb 2023AU$162.8bAU$108.0bAU$13.9b7.5x11.7x1.5x
Price to Earnings Ratio

11.7x


Total Market Cap: AU$162.8bTotal Earnings: AU$13.9bTotal Revenue: AU$108.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Energy Sector Price to Earnings3Y Average 12.8x202420252026
Current Industry PE
  • Investors are optimistic on the Australian Energy industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 18.3x which is higher than its 3-year average PE of 12.8x.
  • The industry is trading close to its 3-year average PS ratio of 1.1x.
Past Earnings Growth
  • The earnings for companies in the Energy industry have declined 22% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, 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 Australian Energy sector?

AU Market0.57%
Energy3.53%
Oil and Gas3.53%
Energy Services-3.58%
Industry PE
  • Investors are most optimistic about the Oil and Gas industry which is trading above its 3-year average PE ratio of 12.8x.
    • Analysts are expecting annual earnings growth of 9.9%, which is higher than its past year's earnings decline of 24.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the Energy Services industry, expecting annual earnings growth of 96% over the next 5 years.
  • In contrast, the Oil and Gas industry is expected to see its earnings grow by 9.9% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
STO SantosAU$6.628.2%
+AU$1.6b		-5.7%PE14.4x
WDS Woodside Energy GroupAU$24.323.5%
+AU$1.6b		-0.2%PE10.8x
PDN Paladin EnergyAU$13.2313.7%
+AU$714.4m		62.3%PS24.2x
BPT Beach EnergyAU$1.219.5%
+AU$239.4m		-19.4%PS1.3x
AEL Amplitude EnergyAU$3.1915.6%
+AU$128.9m		48.7%PS3.6x

Latest News

PDN
AU$13.23
Paladin Energy
7D
13.7%
1Y
62.3%

PDN: Higher Margins And Premium P E Multiple Will Drive Future Upside

Analysts have raised their price target for Paladin Energy to A$15.09 from A$11.99, citing updated assumptions for higher revenue, stronger profit margins and a higher future P/E multiple. Valuation Changes Fair Value Estimate, raised from A$11.99 to A$15.09, representing a sizeable uplift in the assessed share value.
WHC
AU$9.10
Whitehaven Coal
7D
1.7%
1Y
50.4%

WHC: Conflicting Views And Buybacks Will Shape Future Share Repricing

Analysts have raised their fair value estimate for Whitehaven Coal from A$8.85 to A$9.50. This reflects updated assumptions for discount rates, revenue growth, profit margins and a higher future P/E multiple, even as some recent research has adopted a more cautious stance on valuation.
DYL
AU$2.34
Deep Yellow
7D
4.9%
1Y
90.2%
STO
AU$6.62
Santos
7D
8.2%
1Y
-5.7%
AEL
AU$3.19
Amplitude Energy
7D
15.6%
1Y
48.7%

Plant Reliability And East Coast Gas Supply Expansion Will Drive A Stronger Outlook

Catalysts About Amplitude Energy Amplitude Energy produces and sells domestic gas through existing processing plants located near major East Coast demand centers. What are the underlying business or industry changes driving this perspective?
BPT
AU$1.21
Beach Energy
7D
9.5%
1Y
-19.4%

BPT: Western Flank Production Declines Will Likely Pressure Future Earnings

Analysts have slightly reduced their fair value estimate for Beach Energy from A$0.77 to A$0.76, reflecting updated assumptions around revenue, margins and the forward P/E multiple. Valuation Changes Fair value estimate has been reduced slightly from A$0.77 to A$0.76 per share.
YAL
AU$5.67
Yancoal Australia
7D
1.6%
1Y
-6.4%
WDS
AU$24.32
Woodside Energy Group
7D
3.5%
1Y
-0.2%

WDS: Future U.S. LNG Pact And Ammonia Output Will Support Returns

Analysts have trimmed their price target on Woodside Energy Group to about A$27.16 from A$27.42, citing slightly higher discount rate assumptions, softer modeled revenue growth and a modestly higher future P/E multiple in their updated forecasts. Analyst Commentary Bullish Takeaways Bullish analysts point out that the adjusted price target still implies room for upside relative to the current A$27.16 level, which suggests they see value in Woodside Energy Group despite tweaks to their models.
FDR
AU$0.40
Finder Energy Holdings
7D
-8.1%
1Y
997.2%
TBN
AU$0.20
Tamboran Resources
7D
-2.4%
1Y
5.1%
TDO
AU$0.08
3D Energi
7D
-7.0%
1Y
-7.0%
IVZ
AU$0.059
Invictus Energy
7D
-57.9%
1Y
-20.3%
EQU
AU$0.38
Equus Energy
7D
-5.0%
1Y
n/a
COI
AU$0.14
Comet Ridge
7D
-5.1%
1Y
0%
PCL
AU$0.008
Pancontinental Energy
7D
-33.3%
1Y
-50.0%
OMA
AU$0.45
Omega Oil & Gas
7D
-3.2%
1Y
42.9%