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Australian (ASX) Utilities Sector Analysis

UpdatedApr 14, 2026
DataAggregated Company Financials
Companies15
  • 7D-0.5%
  • 3M12.7%
  • 1Y17.6%
  • YTD8.6%

Over the last 7 days, the Utilities industry has remained flat. The past year has been better, since the industry has gained 18% in that time. As for the next few years, earnings are expected to grow by 13% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 14 Apr 2026AU$41.9bAU$34.3bAU$987.1m39.2x42.5x1.2x
Thu, 12 Mar 2026AU$38.8bAU$34.3bAU$987.5m35.8x39.3x1.1x
Sat, 07 Feb 2026AU$37.3bAU$35.2bAU$2.0b29.1x18.9x1.1x
Mon, 05 Jan 2026AU$38.9bAU$35.2bAU$2.0b16.5x19.5x1.1x
Wed, 03 Dec 2025AU$39.6bAU$35.2bAU$2.0b18.3x19.7x1.1x
Fri, 31 Oct 2025AU$41.0bAU$35.2bAU$2.0b16.5x20.4x1.2x
Sun, 28 Sep 2025AU$40.3bAU$35.3bAU$2.0b19x20x1.1x
Tue, 26 Aug 2025AU$40.5bAU$35.3bAU$820.0m15x49.4x1.1x
Thu, 24 Jul 2025AU$39.2bAU$35.1bAU$952.6m15.7x41.1x1.1x
Sat, 21 Jun 2025AU$37.8bAU$35.1bAU$942.5m15.1x40.1x1.1x
Mon, 19 May 2025AU$37.5bAU$35.1bAU$950.7m15.3x39.5x1.1x
Wed, 16 Apr 2025AU$35.7bAU$35.1bAU$945.7m14.6x37.7x1x
Fri, 14 Mar 2025AU$35.1bAU$35.1bAU$938.4m14.3x37.4x1x
Sun, 09 Feb 2025AU$34.7bAU$33.3bAU$3.1b12.4x11.3x1x
Tue, 07 Jan 2025AU$36.4bAU$33.3bAU$3.1b13x11.8x1.1x
Thu, 05 Dec 2024AU$35.9bAU$33.2bAU$3.1b13.5x11.7x1.1x
Sat, 02 Nov 2024AU$33.5bAU$33.2bAU$3.1b12.2x10.9x1x
Mon, 30 Sep 2024AU$36.1bAU$33.3bAU$3.0b12.2x12x1.1x
Wed, 28 Aug 2024AU$35.8bAU$33.1bAU$3.2b17.6x11.1x1.1x
Fri, 26 Jul 2024AU$36.3bAU$31.6bAU$3.1b18.8x11.6x1.1x
Sun, 23 Jun 2024AU$37.8bAU$31.5bAU$3.2b19.2x11.9x1.2x
Tue, 21 May 2024AU$36.6bAU$31.5bAU$3.2b18.2x11.6x1.2x
Thu, 18 Apr 2024AU$34.0bAU$31.5bAU$3.2b17.6x10.8x1.1x
Sat, 16 Mar 2024AU$33.2bAU$31.5bAU$3.2b25.3x10.5x1.1x
Mon, 12 Feb 2024AU$31.6bAU$32.3bAU$1.6b20.9x19.4x1x
Wed, 10 Jan 2024AU$32.9bAU$34.0b-AU$14,007,481.0020.1x-2346.3x1x
Fri, 08 Dec 2023AU$32.1bAU$34.0b-AU$15,460,491.0020.2x-2076.7x0.9x
Sun, 05 Nov 2023AU$33.2bAU$34.0b-AU$16,118,547.0021x-2061.9x1x
Tue, 03 Oct 2023AU$34.1bAU$34.1bAU$75.1m14.5x454.2x1x
Thu, 31 Aug 2023AU$34.6bAU$34.1bAU$66.0m14.2x523.6x1x
Sat, 29 Jul 2023AU$35.7bAU$35.6b-AU$1,363,338,273.0013.3x-26.2x1x
Mon, 26 Jun 2023AU$34.8bAU$35.6b-AU$1,363,318,043.0013.7x-25.5x1x
Wed, 24 May 2023AU$33.1bAU$35.5b-AU$1,369,432,475.008x-24.2x0.9x
Fri, 21 Apr 2023AU$33.2bAU$35.5b-AU$1,369,572,753.008.1x-24.2x0.9x
Price to Earnings Ratio

-24.2x


Total Market Cap: AU$33.2bTotal Earnings: -AU$1,369,572,753.00Total Revenue: AU$35.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Utilities Sector Price to Earnings3Y Average -210.2x202420252026
Current Industry PE
  • Investors are optimistic on the Australian Utilities industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 42.3x which is higher than its 3-year average PE of -210x.
  • The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.2x.
Past Earnings Growth
  • Total earnings for the Utilities industry have gone up over the last three years, and the industry is now profitable.
  • Revenues have remained mostly flat. This means that the industry has become more efficient since profits are increasing while sales have been flat.

Industry Trends

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

AU Market3.84%
Utilities-0.48%
Renewable Energy3.69%
Gas Utilities1.83%
Water Utilities-1.00%
Other Utilities-1.10%
Electric Utilities-1.75%
Industry PE
  • Investors are most optimistic about the Gas Utilities industry which is trading above its 3-year average PE ratio of 1.4x.
    • Analysts are expecting annual earnings growth of 21.1% and investors are willing to pay a premium for that growth.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 103% over the next 5 years.
  • This is better than its past earnings decline of 66% per year.
  • In contrast, the Water Utilities industry is expected to see its earnings decline by 31% 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
LGI LGIAU$3.849.4%
+AU$34.1m		37.1%PE55.5x
FHE Frontier EnergyAU$0.266.3%
+AU$8.4m		45.7%PB1.7x
FLC FluenceAU$0.0843.7%
+AU$3.4m		78.7%PS0.9x
KPO Kalina PowerAU$0.0138.3%
+AU$2.9m		116.7%PE2.5x
DEL DeloreanAU$0.102.5%
+AU$550.7k		-43.1%PS1.6x

Latest News

FHE
AU$0.26
Frontier Energy
7D
6.3%
1Y
45.7%
FLC
AU$0.084
Fluence
7D
3.7%
1Y
78.7%

FLC: Higher Discount Rate And Margin Pressure Will Constrain Future Upside

Analysts have trimmed their price target on Fluence by A$0.00, citing updated assumptions that include slightly higher discount rates, more cautious revenue growth, lower profit margin expectations, and a higher future P/E multiple. What's in the News Fluence issued earnings guidance for fiscal 2026, giving investors a clearer view of management's current expectations for the business (Corporate Guidance).
APA
AU$9.96
APA Group
7D
-0.4%
1Y
23.7%

APA: Elevated P/E And Interim Distribution Structure Will Signal Limited Upside

Analysts have kept their A$8.95 price target for APA Group steady, with only minor adjustments to the discount rate, revenue growth, profit margin and future P/E assumptions underpinning the updated view. What's in the News The Board has resolved to pay an interim distribution of A$0.275 per security for the half year ended 31 December 2025, with payment expected on 18 March 2026 (Key Developments).
ORG
AU$12.35
Origin Energy
7D
-3.4%
1Y
22.2%

ORG: Updated Guidance And Margin Outlook Will Support Measured Fair Value View

Analysts have nudged their fair value estimate for Origin Energy slightly higher to A$12.17 from A$12.15, reflecting updated assumptions around revenue growth, profit margins, and a modestly lower future P/E multiple. What's in the News Origin Energy held an Analyst/Investor Day, giving the market a closer look at its plans and assumptions across the business (Key Developments).
DEM
AU$0.087
De.mem
7D
-7.4%
1Y
-24.3%
RIV
AU$1.46
Rivco Australia
7D
-2.7%
1Y
1.7%
LGI
AU$3.84
LGI
7D
9.4%
1Y
37.1%
AGL
AU$9.75
AGL Energy
7D
-0.9%
1Y
-5.8%
JNS
AU$0.14
Janus Electric Holdings
7D
-6.7%
1Y
n/a
LPE
AU$0.089
Locality Planning Energy Holdings
7D
-3.3%
1Y
-27.3%
TPC
AU$4.10
TPC Consolidated
7D
0.5%
1Y
-54.5%
EWC
AU$0.035
Energy World
7D
-2.8%
1Y
59.1%
DEL
AU$0.10
Delorean
7D
2.5%
1Y
-43.1%

Delorean Corporation Limited (ASX:DEL) Not Doing Enough For Some Investors As Its Shares Slump 29%

Jan 14
Delorean Corporation Limited (ASX:DEL) Not Doing Enough For Some Investors As Its Shares Slump 29%
KPO
AU$0.013
Kalina Power
7D
8.3%
1Y
116.7%