Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Australian (ASX) Utilities Sector Analysis

UpdatedMar 02, 2026
DataAggregated Company Financials
Companies15
  • 7D-1.1%
  • 3M2.3%
  • 1Y11.7%
  • YTD4.9%

Over the last 7 days, the Utilities industry has dropped 1.1%, driven by AGL Energy declining 4.7%. Over the past 12 months, the industry was up 12%. Looking forward, earnings are forecast to grow by 13% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 02 Mar 2026AU$40.3bAU$34.4bAU$1.0b23.8x39.3x1.2x
Wed, 28 Jan 2026AU$39.3bAU$35.2bAU$2.0b31.9x19.8x1.1x
Fri, 26 Dec 2025AU$39.2bAU$35.2bAU$2.0b17.1x19.6x1.1x
Sun, 23 Nov 2025AU$39.0bAU$35.2bAU$2.0b19.5x19.4x1.1x
Tue, 21 Oct 2025AU$40.1bAU$35.2bAU$2.0b18.9x19.9x1.1x
Thu, 18 Sep 2025AU$40.5bAU$35.3bAU$2.0b17.8x20.2x1.1x
Sat, 16 Aug 2025AU$40.1bAU$35.2bAU$677.4m14.8x59.2x1.1x
Mon, 14 Jul 2025AU$38.5bAU$35.1bAU$951.2m15.7x40.4x1.1x
Wed, 11 Jun 2025AU$37.0bAU$35.1bAU$945.0m16x39.1x1.1x
Fri, 09 May 2025AU$38.3bAU$35.1bAU$952.0m15.6x40.2x1.1x
Sun, 06 Apr 2025AU$35.2bAU$35.1bAU$910.6m14.4x38.7x1x
Tue, 04 Mar 2025AU$36.4bAU$35.1bAU$931.4m14.6x39.1x1x
Thu, 30 Jan 2025AU$36.8bAU$33.3bAU$3.1b13.4x12x1.1x
Sat, 28 Dec 2024AU$36.3bAU$33.3bAU$3.1b12.7x11.8x1.1x
Mon, 25 Nov 2024AU$36.4bAU$33.2bAU$3.1b13.9x11.8x1.1x
Wed, 23 Oct 2024AU$34.5bAU$33.2bAU$3.1b12.2x11.2x1x
Fri, 20 Sep 2024AU$35.7bAU$33.3bAU$3.0b12x11.9x1.1x
Sun, 18 Aug 2024AU$35.7bAU$33.1bAU$3.2b17.6x11.1x1.1x
Tue, 16 Jul 2024AU$37.3bAU$31.6bAU$3.1b19.5x11.9x1.2x
Thu, 13 Jun 2024AU$36.5bAU$31.5bAU$3.2b19.2x11.5x1.2x
Sat, 11 May 2024AU$36.5bAU$31.5bAU$3.2b17.9x11.5x1.2x
Mon, 08 Apr 2024AU$33.9bAU$31.5bAU$3.2b17.6x10.7x1.1x
Wed, 06 Mar 2024AU$32.1bAU$31.5bAU$3.2b26.5x10.2x1x
Fri, 02 Feb 2024AU$31.9bAU$34.0b-AU$16,011,642.0020.2x-1993.4x0.9x
Sun, 31 Dec 2023AU$32.9bAU$34.0b-AU$12,625,171.0020.6x-2603.7x1x
Tue, 28 Nov 2023AU$32.9bAU$34.0b-AU$15,021,734.0021x-2192.7x1x
Thu, 26 Oct 2023AU$34.0bAU$34.0b-AU$18,240,501.0021.8x-1864.4x1x
Sat, 23 Sep 2023AU$34.3bAU$34.1bAU$75.1m14.5x456x1x
Mon, 21 Aug 2023AU$34.2bAU$34.1bAU$96.6m14.1x354.1x1x
Wed, 19 Jul 2023AU$35.2bAU$35.6b-AU$1,363,324,308.0013.4x-25.8x1x
Fri, 16 Jun 2023AU$33.8bAU$35.6b-AU$1,363,304,041.0013.8x-24.8x1x
Sun, 14 May 2023AU$33.3bAU$35.5b-AU$1,369,440,586.008x-24.3x0.9x
Tue, 11 Apr 2023AU$33.1bAU$35.5b-AU$1,369,491,758.008.1x-24.2x0.9x
Thu, 09 Mar 2023AU$31.7bAU$35.5b-AU$1,369,326,050.008x-23.2x0.9x
Price to Earnings Ratio

-23.2x


Total Market Cap: AU$31.7bTotal Earnings: -AU$1,369,326,050.00Total Revenue: AU$35.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Utilities Sector Price to Earnings3Y Average -212.7x202420252026
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 39.3x which is higher than its 3-year average PE of -213x.
  • 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 Market1.41%
Utilities-1.13%
Renewable Energy7.54%
Gas Utilities0.66%
Electric Utilities-0.41%
Water Utilities-2.28%
Other Utilities-6.65%
Industry PE
  • Investors are most optimistic about the Gas Utilities industry which is trading above its 3-year average PE ratio of 0.11x.
    • Analysts are expecting annual earnings growth of 22.8% 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 100% over the next 5 years.
  • This is better than its past earnings growth rate of 2.0% per year.
  • In contrast, the Water Utilities industry is expected to see its earnings decline by 41% 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$9.372.7%
+AU$328.8m		25.3%PE76.1x
KPO Kalina PowerAU$0.01515.4%
+AU$5.9m		114.3%PE2.9x
LGI LGIAU$3.701.4%
+AU$5.2m		25.4%PE53.5x
DEM De.memAU$0.102.5%
+AU$816.5k		-10.9%PS1.1x

Latest News

DEM
AU$0.10
De.mem
7D
2.5%
1Y
-10.9%
RIV
AU$1.48
Rivco Australia
7D
-3.0%
1Y
10.1%
FLC
AU$0.078
Fluence
7D
-2.5%
1Y
36.8%
FHE
AU$0.22
Frontier Energy
7D
-2.2%
1Y
100.0%
TPC
AU$4.50
TPC Consolidated
7D
-10.0%
1Y
-47.1%
EWC
AU$0.03
Energy World
7D
-3.2%
1Y
42.9%
ORG
AU$11.95
Origin Energy
7D
-1.0%
1Y
8.9%
APA
AU$9.37
APA Group
7D
2.7%
1Y
25.3%

APA: Future Distributions And Earnings Assumptions Will Support A Measured Outlook

Analysts have adjusted their fair value estimate for APA Group from A$8.72 to A$8.95, citing updated assumptions for discount rates, revenue growth, profit margins, and future P/E expectations. What's in the News APA Group announced an estimated interim distribution of A$0.275 per security for the six months ended 31 December 2025, compared with the FY25 interim distribution of A$0.270 per security, described as a 1.9% increase (Key Developments).
LGI
AU$3.70
LGI
7D
1.4%
1Y
25.4%
AGL
AU$9.83
AGL Energy
7D
-4.7%
1Y
-7.0%
KPO
AU$0.015
Kalina Power
7D
15.4%
1Y
114.3%
CCE
AU$0.055
Carnegie Clean Energy
7D
-8.3%
1Y
57.1%