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Australian (ASX) Energy Sector Analysis

UpdatedApr 29, 2026
DataAggregated Company Financials
Companies107
  • 7D2.9%
  • 3M15.5%
  • 1Y44.9%
  • YTD25.7%

Over the last 7 days, the Energy industry has risen 2.9%, driven by gains from Woodside Energy Group of 7.3%. Meanwhile, Paladin Energy actually underperformed within the industry, shrinking 6.1% in the last week. This means that the industry has gained 45% over the past year. Earnings are forecast to grow by 14% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 29 Apr 2026AU$143.1bAU$102.0bAU$5.0b16.2x28.9x1.4x
Fri, 27 Mar 2026AU$146.8bAU$103.0bAU$5.1b15.1x28.5x1.4x
Sun, 22 Feb 2026AU$127.1bAU$106.9bAU$6.1b18.4x20.7x1.2x
Tue, 20 Jan 2026AU$115.9bAU$109.8bAU$6.7b13x17.2x1.1x
Thu, 18 Dec 2025AU$110.2bAU$110.2bAU$6.8b13.4x16.2x1x
Sat, 15 Nov 2025AU$117.3bAU$110.7bAU$6.9b13.6x16.9x1.1x
Mon, 13 Oct 2025AU$109.7bAU$110.8bAU$7.0b13x15.7x1x
Wed, 10 Sep 2025AU$116.4bAU$110.4bAU$7.1b14.6x16.3x1.1x
Fri, 08 Aug 2025AU$121.4bAU$112.7bAU$9.0b14.9x13.5x1.1x
Sun, 06 Jul 2025AU$115.0bAU$112.4bAU$8.9b13.3x12.9x1x
Tue, 03 Jun 2025AU$102.5bAU$112.7bAU$9.0b12.5x11.4x0.9x
Thu, 01 May 2025AU$96.4bAU$113.0bAU$9.2b13.4x10.5x0.9x
Sat, 29 Mar 2025AU$106.4bAU$113.6bAU$9.3b14.4x11.4x0.9x
Mon, 24 Feb 2025AU$109.5bAU$113.0bAU$6.6b12.9x16.6x1x
Wed, 22 Jan 2025AU$119.5bAU$112.2bAU$6.5b12.6x18.5x1.1x
Fri, 20 Dec 2024AU$108.2bAU$112.1bAU$6.4b10.6x16.8x1x
Sun, 17 Nov 2024AU$110.8bAU$111.1bAU$6.3b11.1x17.7x1x
Tue, 15 Oct 2024AU$121.1bAU$109.8bAU$6.0b12.5x20.1x1.1x
Thu, 12 Sep 2024AU$108.3bAU$110.4bAU$6.2b10.7x17.4x1x
Sat, 10 Aug 2024AU$122.8bAU$112.9bAU$7.5b7.4x16.5x1.1x
Mon, 08 Jul 2024AU$137.3bAU$112.5bAU$7.5b8x18.4x1.2x
Wed, 05 Jun 2024AU$133.3bAU$113.0bAU$7.5b9.5x17.7x1.2x
Fri, 03 May 2024AU$131.0bAU$113.3bAU$7.6b7.2x17.3x1.2x
Sun, 31 Mar 2024AU$138.1bAU$113.6bAU$7.6b7.2x18.1x1.2x
Tue, 27 Feb 2024AU$131.9bAU$120.8bAU$16.6b6.7x8x1.1x
Thu, 25 Jan 2024AU$139.0bAU$129.0bAU$19.4b6.2x7.2x1.1x
Sat, 23 Dec 2023AU$135.9bAU$127.8bAU$19.0b5.9x7.1x1.1x
Mon, 20 Nov 2023AU$131.1bAU$129.6bAU$19.6b5.2x6.7x1x
Wed, 18 Oct 2023AU$142.4bAU$131.0bAU$20.0b6.1x7.1x1.1x
Fri, 15 Sep 2023AU$146.6bAU$130.4bAU$20.0b4.6x7.3x1.1x
Sun, 13 Aug 2023AU$146.8bAU$128.8bAU$23.5b5.4x6.2x1.1x
Tue, 11 Jul 2023AU$132.8bAU$127.9bAU$23.2b5.5x5.7x1x
Thu, 08 Jun 2023AU$133.7bAU$127.6bAU$23.1b6x5.8x1x
Sat, 06 May 2023AU$143.4bAU$129.3bAU$24.1b6.5x6x1.1x
Price to Earnings Ratio

6x


Total Market Cap: AU$143.4bTotal Earnings: AU$24.1bTotal Revenue: AU$129.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Energy Sector Price to Earnings3Y Average 14.2x202420252026
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 28.9x which is higher than its 3-year average PE of 14.2x.
  • The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.4x.
Past Earnings Growth
  • The earnings for companies in the Energy industry have declined 41% per year over the last three years,
  • Revenues have also declined 7.6% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

Which industries have driven the changes within the Australian Energy sector?

AU Market-2.58%
Energy2.88%
Energy Services5.03%
Oil and Gas2.88%
Industry PE
  • Investors are most optimistic about the Oil and Gas industry which is trading above its 3-year average PE ratio of 14.2x.
    • Analysts are expecting annual earnings growth of 13.7%, which is higher than its past year's earnings decline of 23.9% per year.
Forecasted Growth
  • Analysts are most optimistic on the Energy Services industry, expecting annual earnings growth of 110% over the next 5 years.
  • In contrast, the Oil and Gas industry is expected to see its earnings grow by 14% 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
WDS Woodside Energy GroupAU$33.057.3%
+AU$4.3b		59.4%PE16.5x
STO SantosAU$7.774.4%
+AU$1.1b		29.3%PE22x
YAL Yancoal AustraliaAU$7.509.5%
+AU$858.3m		50.6%PE22.5x
ALD AmpolAU$34.585.4%
+AU$424.2m		45.9%PE100x
WHC Whitehaven CoalAU$8.234.4%
+AU$288.7m		64.9%PE11x

Latest News

WHC
AU$8.23
Whitehaven Coal
7D
4.4%
1Y
64.9%
WDS
AU$33.05
Woodside Energy Group
7D
7.3%
1Y
59.4%
IVZ
AU$0.065
Invictus Energy
7D
-20.7%
1Y
22.6%
TBN
AU$0.24
Tamboran Resources
7D
-2.0%
1Y
53.1%
ALD
AU$34.58
Ampol
7D
5.4%
1Y
45.9%

ALD: Future Returns Will Rely On Upcoming Dividend And Steady Earnings Expectations

Ampol's analyst price target has shifted from A$34.64 to A$36.26, with analysts pointing to updated assumptions for revenue growth, profit margins and a slightly lower future P/E multiple as the key drivers of this change. What's in the News Ampol declared an ordinary fully franked dividend of A$0.60 per share for the six months ended December 31, 2025, giving investors clarity on upcoming cash distributions (Key Developments).
BTL
AU$0.29
Beetaloo Energy Australia
7D
-4.9%
1Y
70.6%
PDN
AU$12.09
Paladin Energy
7D
-6.1%
1Y
106.3%

PDN: Outperform Upgrade And EIS Approval Will Support Future Upside

Analysts have trimmed their fair value estimate for Paladin Energy from about A$17.49 to A$17.11, citing updated cost assumptions at Langer Heinrich, as well as expectations for stronger revenue growth, higher profit margins, and a lower future P/E multiple. Analyst Commentary Recent Street research reflects a more constructive tone on Paladin Energy, with bullish analysts pointing to valuation support and updated cost assumptions at Langer Heinrich as key drivers behind their views.
VEA
AU$2.39
Viva Energy Group
7D
3.5%
1Y
39.0%

VEA: Dividend Timeline And Updated Assumptions Will Shape Future Returns

Analysts have adjusted their price target for Viva Energy Group slightly higher to A$2.66 from A$2.62. This reflects updated assumptions for revenue growth, profit margins, the discount rate and future P/E expectations.
KAR
AU$2.14
Karoon Energy
7D
4.9%
1Y
48.6%

KAR: Higher Margins And New CFO Hire Will Support Measured Outlook

Analysts have lifted their A$ fair value estimate for Karoon Energy from A$1.95 to about A$2.24, citing updated assumptions for a smaller revenue decline, higher profit margins, and a lower forward P/E multiple. What's in the News Karoon Energy appointed Eric Williams as Chief Financial Officer, effective 23 March 2026, succeeding Ray Church after more than 4.5 years in the role (Key Developments).
STO
AU$7.77
Santos
7D
4.4%
1Y
29.3%

STO: Future Upside Will Rely On Low Costs And Papua LNG Progress

Analysts have nudged their price targets for Santos higher, with fair value moving from A$8.49 to A$8.56. This reflects updated assumptions around revenue growth, margins and production outlook tied to recent research that highlights Santos' low cost model and planned production expansion supported by progress at Papua LNG.
YAL
AU$7.50
Yancoal Australia
7D
9.5%
1Y
50.6%
BOE
AU$1.54
Boss Energy
7D
-5.0%
1Y
-51.6%
ERA
AU$0.0035
Energy Resources of Australia
7D
-12.5%
1Y
75.0%
AEL
AU$1.75
Amplitude Energy
7D
12.6%
1Y
-14.3%
PEN
AU$0.51
Peninsula Energy
7D
-12.2%
1Y
n/a
LOT
AU$1.43
Lotus Resources
7D
-5.3%
1Y
-31.2%