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Australian (ASX) Utilities Sector Analysis

UpdatedJun 06, 2026
DataAggregated Company Financials
Companies15
  • 7D1.3%
  • 3M-2.3%
  • 1Y5.7%
  • YTD1.2%

The Utilities industry is up 1.3% in the last week, with APA Group up 3.1%. In the same time, LGI was down 10%. This means that the industry has gained 5.7% over the past year. As for the next few years, earnings are expected to grow by 14% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 06 Jun 2026AU$39.1bAU$34.3bAU$987.5m38.8x39.6x1.1x
Mon, 04 May 2026AU$41.9bAU$34.3bAU$987.7m38x42.5x1.2x
Wed, 01 Apr 2026AU$41.8bAU$34.3bAU$986.2m39.2x42.4x1.2x
Fri, 27 Feb 2026AU$39.7bAU$34.4bAU$998.8m29.1x39.7x1.2x
Sun, 25 Jan 2026AU$39.1bAU$35.2bAU$2.0b31.9x19.7x1.1x
Tue, 23 Dec 2025AU$38.9bAU$35.2bAU$2.0b17.7x19.5x1.1x
Thu, 20 Nov 2025AU$39.9bAU$35.2bAU$2.0b18.3x19.8x1.1x
Sat, 18 Oct 2025AU$40.1bAU$35.2bAU$2.0b18.9x19.9x1.1x
Mon, 15 Sep 2025AU$39.8bAU$35.3bAU$2.0b18.4x19.9x1.1x
Wed, 13 Aug 2025AU$39.8bAU$35.1bAU$942.5m14.8x42.3x1.1x
Fri, 11 Jul 2025AU$38.6bAU$35.1bAU$950.1m15.6x40.6x1.1x
Sun, 08 Jun 2025AU$36.9bAU$35.1bAU$943.3m15.1x39.2x1.1x
Tue, 06 May 2025AU$37.3bAU$35.1bAU$958.7m15.1x38.9x1.1x
Thu, 03 Apr 2025AU$36.9bAU$35.1bAU$940.0m15x39.2x1.1x
Sat, 01 Mar 2025AU$36.2bAU$35.1bAU$1.6b15.9x22.6x1x
Mon, 27 Jan 2025AU$36.9bAU$33.3bAU$3.1b13.8x12x1.1x
Wed, 25 Dec 2024AU$36.4bAU$33.3bAU$3.1b13.2x11.8x1.1x
Fri, 22 Nov 2024AU$35.9bAU$33.2bAU$3.1b12.9x11.7x1.1x
Sun, 20 Oct 2024AU$34.7bAU$33.2bAU$3.1b12.5x11.3x1x
Tue, 17 Sep 2024AU$34.7bAU$33.3bAU$3.0b12.2x11.6x1x
Thu, 15 Aug 2024AU$36.8bAU$32.7bAU$3.5b17.6x10.6x1.1x
Sat, 13 Jul 2024AU$37.1bAU$31.6bAU$3.1b19.4x11.8x1.2x
Mon, 10 Jun 2024AU$37.2bAU$31.5bAU$3.2b19x11.8x1.2x
Wed, 08 May 2024AU$36.3bAU$31.5bAU$3.2b17.6x11.5x1.2x
Fri, 05 Apr 2024AU$34.0bAU$31.5bAU$3.2b17.6x10.7x1.1x
Sun, 03 Mar 2024AU$32.4bAU$31.5bAU$3.2b20.9x10.3x1x
Tue, 30 Jan 2024AU$31.7bAU$34.0b-AU$15,062,482.0020x-2104.9x0.9x
Thu, 28 Dec 2023AU$32.9bAU$34.0b-AU$12,356,857.0020.5x-2660.1x1x
Sat, 25 Nov 2023AU$33.1bAU$34.0b-AU$15,228,817.0020.9x-2176.4x1x
Mon, 23 Oct 2023AU$34.2bAU$34.0b-AU$18,560,114.0021.9x-1841.3x1x
Wed, 20 Sep 2023AU$34.1bAU$34.1bAU$75.1m14.2x453.9x1x
Fri, 18 Aug 2023AU$33.9bAU$34.1bAU$96.6m13.9x350.5x1x
Sun, 16 Jul 2023AU$35.0bAU$35.6b-AU$1,363,325,374.0013.5x-25.7x1x
Tue, 13 Jun 2023AU$34.0bAU$35.6b-AU$1,363,317,574.0014.2x-24.9x1x
Price to Earnings Ratio

-24.9x


Total Market Cap: AU$34.0bTotal Earnings: -AU$1,363,317,574.00Total Revenue: AU$35.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Utilities Sector Price to Earnings3Y Average -207x202420252026
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 39.6x which is higher than its 3-year average PE of -207x.
  • The industry is trading close to its 3-year average PS ratio of 1.1x.
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 Market-1.23%
Utilities1.29%
Renewable Energy15.85%
Gas Utilities3.08%
Water Utilities0.43%
Electric Utilities0.18%
Other Utilities-0.35%
Industry PE
  • Investors are most optimistic about the Gas Utilities industry which is trading above its 3-year average PE ratio of 3.3x.
    • Analysts are expecting annual earnings growth of 21.3% 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 104% 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
APA APA GroupAU$10.393.1%
+AU$410.4m		24.4%PE84.9x
EWC Energy WorldAU$0.05861.1%
+AU$84.8m		241.2%PB0.2x
ORG Origin EnergyAU$10.890.2%
+AU$34.4m		2.8%PE18.4x
CCE Carnegie Clean EnergyAU$0.1519.2%
+AU$10.2m		192.5%PS151.5x
FLC FluenceAU$0.0955.6%
+AU$5.7m		143.6%PS1x

Latest News

FHE
AU$0.23
Frontier Energy
7D
-15.1%
1Y
12.5%
AGL
AU$8.53
AGL Energy
7D
-0.4%
1Y
-17.7%
ORG
AU$10.89
Origin Energy
7D
0.2%
1Y
2.8%
APA
AU$10.39
APA Group
7D
3.1%
1Y
24.4%
Narrative Update • Jun 03

APA: Elevated P/E And Gas Expansion Deal Will Limit Future Upside

Analysts have slightly raised their price target for APA Group to A$9.14 from A$9.03, reflecting updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E multiples. What's in the News Worley has secured a three year engineering services framework agreement with APA Group to support APA's gas transmission and storage portfolio across Australia.
EWC
AU$0.058
Energy World
7D
61.1%
1Y
241.2%
CCE
AU$0.15
Carnegie Clean Energy
7D
19.2%
1Y
192.5%
JNS
AU$0.16
Janus Electric Holdings
7D
-5.9%
1Y
-23.8%
FLC
AU$0.095
Fluence
7D
5.6%
1Y
143.6%
New Narrative • Apr 27

Ivory Coast Project Completion Will Expose Weaknesses In Long Duration Water Revenue

Catalysts About Fluence Fluence provides water and wastewater treatment solutions with a focus on standardized product systems and recurring service models. What are the underlying business or industry changes driving this perspective?
VPR
AU$0.17
Volt Group
7D
3.1%
1Y
65.0%
DEM
AU$0.065
De.mem
7D
-5.8%
1Y
-43.5%
RIV
AU$1.45
Rivco Australia
7D
1.0%
1Y
-5.2%
LGI
AU$3.10
LGI
7D
-10.1%
1Y
8.4%
LPE
AU$0.081
Locality Planning Energy Holdings
7D
-8.0%
1Y
-32.5%