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Australian (ASX) Energy Sector Analysis

UpdatedJan 14, 2026
DataAggregated Company Financials
Companies105
  • 7D-0.3%
  • 3M1.9%
  • 1Y-7.3%
  • YTD-0.4%

Last week, the Energy industry hasn't moved much but Woodside Energy Group is up 4.6% in that time. Unfortunately though, the industry is down 7.3% over the past 12 months. Looking forward, earnings are forecast to grow by 9.2% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 14 Jan 2026AU$113.0bAU$109.8bAU$6.7b13.3x16.7x1x
Fri, 12 Dec 2025AU$114.8bAU$110.0bAU$6.8b13.2x16.9x1x
Sun, 09 Nov 2025AU$117.7bAU$110.8bAU$7.0b13.1x16.9x1.1x
Tue, 07 Oct 2025AU$111.4bAU$110.3bAU$6.9b13x16.2x1x
Thu, 04 Sep 2025AU$119.2bAU$110.8bAU$7.2b14.9x16.5x1.1x
Sat, 02 Aug 2025AU$118.9bAU$113.0bAU$9.2b15.1x12.9x1.1x
Mon, 30 Jun 2025AU$113.0bAU$112.5bAU$9.0b13.2x12.6x1x
Wed, 28 May 2025AU$102.3bAU$112.9bAU$9.1b13x11.3x0.9x
Fri, 25 Apr 2025AU$93.3bAU$113.0bAU$9.2b13.3x10.2x0.8x
Sun, 23 Mar 2025AU$104.9bAU$113.6bAU$9.3b14x11.2x0.9x
Tue, 18 Feb 2025AU$112.3bAU$111.6bAU$6.9b12.3x16.3x1x
Thu, 16 Jan 2025AU$119.0bAU$112.3bAU$6.5b12.4x18.3x1.1x
Sat, 14 Dec 2024AU$111.8bAU$111.5bAU$6.3b11.6x17.7x1x
Mon, 11 Nov 2024AU$113.6bAU$110.5bAU$6.2b11.5x18.4x1x
Wed, 09 Oct 2024AU$122.3bAU$109.9bAU$6.1b12.5x20.2x1.1x
Fri, 06 Sep 2024AU$112.3bAU$110.3bAU$6.2b10.9x18.1x1x
Sun, 04 Aug 2024AU$128.8bAU$113.2bAU$7.5b7.5x17.2x1.1x
Tue, 02 Jul 2024AU$132.4bAU$112.9bAU$7.5b7.8x17.6x1.2x
Thu, 30 May 2024AU$134.5bAU$113.0bAU$7.5b9.1x17.9x1.2x
Sat, 27 Apr 2024AU$132.3bAU$113.5bAU$7.6b7.5x17.4x1.2x
Mon, 25 Mar 2024AU$134.4bAU$113.7bAU$7.6b7x17.7x1.2x
Wed, 21 Feb 2024AU$135.9bAU$125.4bAU$17.9b6.3x7.6x1.1x
Fri, 19 Jan 2024AU$137.7bAU$129.2bAU$19.5b6x7.1x1.1x
Sun, 17 Dec 2023AU$134.4bAU$128.4bAU$19.2b6.2x7x1x
Tue, 14 Nov 2023AU$132.8bAU$130.5bAU$19.9b5.5x6.7x1x
Thu, 12 Oct 2023AU$143.7bAU$130.2bAU$19.8b6.2x7.3x1.1x
Sat, 09 Sep 2023AU$147.3bAU$130.7bAU$20.1b4.7x7.3x1.1x
Mon, 07 Aug 2023AU$145.4bAU$128.4bAU$23.4b5.4x6.2x1.1x
Wed, 05 Jul 2023AU$137.1bAU$127.7bAU$23.1b6.4x5.9x1.1x
Fri, 02 Jun 2023AU$144.7bAU$130.6bAU$24.5b6.5x5.9x1.1x
Sun, 30 Apr 2023AU$146.0bAU$130.1bAU$24.3b6.6x6x1.1x
Tue, 28 Mar 2023AU$147.7bAU$144.4bAU$25.2b6.4x5.9x1x
Thu, 23 Feb 2023AU$159.9bAU$128.8bAU$16.3b8.2x9.8x1.2x
Sat, 21 Jan 2023AU$171.5bAU$108.8bAU$14.1b7.5x12.2x1.6x
Price to Earnings Ratio

12.2x


Total Market Cap: AU$171.5bTotal Earnings: AU$14.1bTotal Revenue: AU$108.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Energy Sector Price to Earnings3Y Average 12.7x202420252026
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 16.7x which is higher than its 3-year average PE of 12.7x.
  • 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 Market1.64%
Energy-0.31%
Energy Services3.41%
Oil and Gas-0.31%
Industry PE
  • Investors are most optimistic about the Oil and Gas industry which is trading above its 3-year average PE ratio of 12.7x.
    • Analysts are expecting annual earnings growth of 9.2%, 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 9.2% 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$23.924.6%
+AU$2.0b		-7.2%PE10.3x
STO SantosAU$6.316.6%
+AU$1.3b		-11.6%PE13.3x
WHC Whitehaven CoalAU$8.5910.3%
+AU$660.9m		37.0%PE10.9x
YAL Yancoal AustraliaAU$5.467.1%
+AU$475.4m		-7.0%PE7.5x
BPT Beach EnergyAU$1.2111.1%
+AU$273.6m		-18.9%PS1.3x

Latest News

TDO
AU$0.10
3D Energi
7D
-42.9%
1Y
9.9%
DYL
AU$2.03
Deep Yellow
7D
-2.4%
1Y
61.8%
KAR
AU$1.67
Karoon Energy
7D
15.2%
1Y
18.4%
YAL
AU$5.46
Yancoal Australia
7D
7.1%
1Y
-7.0%
PDN
AU$10.66
Paladin Energy
7D
-1.3%
1Y
27.7%
WHC
AU$8.59
Whitehaven Coal
7D
10.3%
1Y
37.0%

An Intrinsic Calculation For Whitehaven Coal Limited (ASX:WHC) Suggests It's 49% Undervalued

Jan 12
An Intrinsic Calculation For Whitehaven Coal Limited (ASX:WHC) Suggests It's 49% Undervalued
STO
AU$6.31
Santos
7D
6.6%
1Y
-11.6%

STO: Future Share Momentum Will Reflect Firmer 2026 Pricing Expectations

Analysts have nudged their fair value estimate for Santos to A$7.56 from A$7.53, reflecting slightly higher assumptions for revenue growth, profit margins and future P/E, as some now expect oil and gas prices in 2026 to be less weak than broader forecasts. Analyst Commentary Bullish Takeaways Bullish analysts view the upgrade alongside a A$7.30 price target as support for the revised fair value, suggesting current assumptions on revenue growth, margins and P/E are within a range some investors may find reasonable.
NHC
AU$4.33
New Hope
7D
7.2%
1Y
-12.3%

NHC: Higher Future P/E Will Clash With Weaker Margins And Revenues

Analysts have lifted their price target for New Hope to reflect an updated fair value of A$3.10 per share, with the change mainly driven by a higher assumed future P/E multiple of 12.72x and adjusted expectations for revenue growth and profit margins. What's in the News Shareholders approved amendments to New Hope Corporation Limited's Constitution at the Annual General Meeting held on 20 November 2025, formalising changes to the company's bylaws (Key Developments).
VEA
AU$1.99
Viva Energy Group
7D
-0.7%
1Y
-27.6%
IVZ
AU$0.14
Invictus Energy
7D
-12.1%
1Y
79.0%
ALD
AU$29.04
Ampol
7D
-4.7%
1Y
-2.7%

ALD: Fair Value Confidence Will Support Positive Long Term Earnings Outlook

Analysts have maintained their fair value estimate for Ampol at A$34.29, making only minor adjustments to the discount rate, long-term revenue growth, profit margin and future P/E assumptions to reflect updated modelling rather than a change in their overall view. Valuation Changes Fair Value: Kept unchanged at A$34.29 per share, indicating no shift in the central valuation outcome.
BPT
AU$1.21
Beach Energy
7D
11.1%
1Y
-18.9%

BPT: Refreshed Buy Rating Will Support Confidence Despite Softer Production Trends

Analysts have nudged their price target for Beach Energy slightly higher, with a fresh A$1.30 target helping to lift the modelled fair value from about A$1.19 to A$1.20. This reflects updated assumptions on revenue, margins and future P/E, as well as recent positive Street research.
WDS
AU$23.92
Woodside Energy Group
7D
4.6%
1Y
-7.2%

WDS: LNG Pact And Leadership Shift Will Shape Balanced Future Outlook

Analysts have slightly raised their price target for Woodside Energy Group, nudging fair value from $22.76 to $23.03 as they factor in a lower discount rate and modestly better long term profitability expectations. Analyst Commentary Bearish analysts acknowledge that the modest increase in fair value reflects incremental improvements in Woodside Energy Group's long term outlook, but they remain cautious on the balance of risks.
BMN
AU$3.61
Bannerman Energy
7D
-3.7%
1Y
18.4%
BKY
AU$0.51
Berkeley Energia
7D
-9.8%
1Y
53.0%
MCM
AU$0.23
MC Mining
7D
17.9%
1Y
91.7%