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Australian (ASX) Utilities Sector Analysis

UpdatedMar 19, 2026
DataAggregated Company Financials
Companies15
  • 7D2.2%
  • 3M3.6%
  • 1Y9.2%
  • YTD3.0%

Over the last 7 days, the Utilities industry has risen 2.2%, driven by gains from APA Group of 4.8%. Meanwhile, Frontier Energy actually underperformed within the industry, shrinking 13% in the last week. This takes the industry's 12 month performance to a gain of 9.2%. 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
Fri, 20 Mar 2026AU$39.7bAU$34.3bAU$987.3m36.8x40.2x1.2x
Sun, 15 Feb 2026AU$40.7bAU$34.4bAU$1.4b31x28.2x1.2x
Tue, 13 Jan 2026AU$37.7bAU$35.2bAU$2.0b29.9x18.9x1.1x
Thu, 11 Dec 2025AU$39.1bAU$35.2bAU$2.0b17.7x19.5x1.1x
Sat, 08 Nov 2025AU$40.1bAU$35.2bAU$2.0b17.7x19.9x1.1x
Mon, 06 Oct 2025AU$40.2bAU$35.2bAU$2.0b16.5x20x1.1x
Wed, 03 Sep 2025AU$40.1bAU$35.3bAU$2.0b14.9x19.9x1.1x
Fri, 01 Aug 2025AU$38.5bAU$35.1bAU$937.5m15x41.1x1.1x
Sun, 29 Jun 2025AU$36.7bAU$35.1bAU$946.1m15.1x38.8x1x
Tue, 27 May 2025AU$36.5bAU$35.1bAU$944.5m15x38.7x1x
Thu, 24 Apr 2025AU$36.3bAU$35.1bAU$951.2m14.6x38.1x1x
Sat, 22 Mar 2025AU$36.5bAU$35.1bAU$939.0m14.6x38.8x1x
Mon, 17 Feb 2025AU$34.4bAU$35.0bAU$2.6b12.8x13.1x1x
Wed, 15 Jan 2025AU$36.8bAU$33.3bAU$3.1b13.6x12x1.1x
Fri, 13 Dec 2024AU$35.6bAU$33.2bAU$3.1b12.7x11.6x1.1x
Sun, 10 Nov 2024AU$33.9bAU$33.2bAU$3.1b13.3x11x1x
Tue, 08 Oct 2024AU$36.1bAU$33.2bAU$3.1b12.3x11.7x1.1x
Thu, 05 Sep 2024AU$34.9bAU$33.3bAU$3.0b11.5x11.6x1x
Sat, 03 Aug 2024AU$36.4bAU$31.6bAU$3.1b18.4x11.6x1.2x
Mon, 01 Jul 2024AU$37.6bAU$31.5bAU$3.2b19.4x11.9x1.2x
Wed, 29 May 2024AU$37.4bAU$31.5bAU$3.2b19.9x11.8x1.2x
Fri, 26 Apr 2024AU$35.3bAU$31.5bAU$3.2b17.6x11.2x1.1x
Sun, 24 Mar 2024AU$33.1bAU$31.5bAU$3.2b26.5x10.5x1.1x
Tue, 20 Feb 2024AU$32.0bAU$31.6bAU$2.2b20.9x14.4x1x
Thu, 18 Jan 2024AU$31.6bAU$34.0b-AU$15,555,335.0020.1x-2028.8x0.9x
Sat, 16 Dec 2023AU$32.2bAU$34.0b-AU$13,716,544.0020.2x-2350.5x0.9x
Mon, 13 Nov 2023AU$33.5bAU$34.0b-AU$17,946,456.0020.7x-1868x1x
Wed, 11 Oct 2023AU$34.7bAU$34.0b-AU$17,394,042.0022x-1995.6x1x
Fri, 08 Sep 2023AU$33.5bAU$34.1bAU$73.9m13.8x453x1x
Sun, 06 Aug 2023AU$34.4bAU$35.6b-AU$1,363,349,848.0013.1x-25.2x1x
Tue, 04 Jul 2023AU$34.5bAU$35.6b-AU$1,363,321,920.0013.9x-25.3x1x
Thu, 01 Jun 2023AU$33.5bAU$35.6b-AU$1,363,349,927.0013.8x-24.5x0.9x
Sat, 29 Apr 2023AU$33.0bAU$35.5b-AU$1,369,387,772.008x-24.1x0.9x
Mon, 27 Mar 2023AU$31.3bAU$35.5b-AU$1,369,454,377.008x-22.9x0.9x
Price to Earnings Ratio

-22.9x


Total Market Cap: AU$31.3bTotal Earnings: -AU$1,369,454,377.00Total Revenue: AU$35.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Utilities Sector Price to Earnings3Y Average -211.7x202420252026
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 40.2x which is higher than its 3-year average PE of -212x.
  • 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-1.51%
Utilities2.20%
Renewable Energy3.90%
Gas Utilities3.84%
Other Utilities2.97%
Electric Utilities1.03%
Water Utilities-4.28%
Industry PE
  • Investors are most optimistic about the Gas Utilities industry which is trading above its 3-year average PE ratio of 0.57x.
    • Analysts are expecting annual earnings growth of 21.0% 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
APA APA GroupAU$9.574.8%
+AU$578.7m		22.5%PE77.7x
ORG Origin EnergyAU$11.761.5%
+AU$292.6m		10.8%PE19.8x
AGL AGL EnergyAU$9.273.6%
+AU$215.3m		-12.1%PS0.4x
LGI LGIAU$3.675.2%
+AU$18.6m		24.8%PE53x
EWC Energy WorldAU$0.0382.7%
+AU$3.9m		72.7%PB0.1x

Latest News

FHE
AU$0.20
Frontier Energy
7D
-13.3%
1Y
99.0%
RIV
AU$1.49
Rivco Australia
7D
0.3%
1Y
3.8%
LGI
AU$3.67
LGI
7D
5.2%
1Y
24.8%
AGL
AU$9.27
AGL Energy
7D
3.6%
1Y
-12.1%
APA
AU$9.57
APA Group
7D
4.8%
1Y
22.5%

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

Analysts have trimmed their price target for APA Group to A$8.95 from A$9.00. This reflects slightly lower assumed revenue growth and a modestly reduced discount rate, partly offset by a small uplift in projected profit margins and a marginally lower future P/E multiple.
ORG
AU$11.76
Origin Energy
7D
1.5%
1Y
10.8%

ORG: Updated Production Guidance And Stable Margins Will Support Fair Value Outlook

Analysts have nudged their Origin Energy price target slightly higher to A$12.05 from A$12.03, reflecting updated assumptions around revenue growth, profit margins, and a modestly lower future P/E multiple. What's in the News Origin Energy updated its production guidance for fiscal 2026 to 645 PJ to 680 PJ, compared with the previous range of 635 PJ to 680 PJ.
VPR
AU$0.14
Volt Group
7D
-6.7%
1Y
-6.7%
CCE
AU$0.068
Carnegie Clean Energy
7D
6.3%
1Y
83.8%
DEM
AU$0.088
De.mem
7D
-10.2%
1Y
-16.2%
JNS
AU$0.12
Janus Electric Holdings
7D
-7.7%
1Y
n/a
LPE
AU$0.092
Locality Planning Energy Holdings
7D
-5.2%
1Y
-23.3%
EWC
AU$0.038
Energy World
7D
2.7%
1Y
72.7%
KPO
AU$0.013
Kalina Power
7D
8.3%
1Y
85.7%