Narrative Update • Jul 06
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Australian (ASX) Utilities Sector Analysis
UpdatedJul 22, 2026
DataAggregated Company Financials
Companies15
- 7D1.3%
- 3M-8.4%
- 1Y-3.1%
- YTD-1.3%
The Utilities industry is up 2.4% in the last week, with Origin Energy up 1.4%. In the same time, LGI was down 7.1%. Despite this gain, the industry's performance has been flat over the past year. As for the next few years, earnings are expected to grow by 12% per annum.
Sector Valuation and Performance
Has the Australian Utilities Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Wed, 22 Jul 2026 | AU$38.1b | AU$34.3b | AU$986.9m | 28.7x | 38.6x | 1.1x |
| Fri, 19 Jun 2026 | AU$39.1b | AU$34.3b | AU$986.9m | 37x | 39.6x | 1.1x |
| Sun, 17 May 2026 | AU$40.6b | AU$34.3b | AU$987.5m | 38.4x | 41.2x | 1.2x |
| Tue, 14 Apr 2026 | AU$41.9b | AU$34.3b | AU$987.1m | 39.2x | 42.5x | 1.2x |
| Thu, 12 Mar 2026 | AU$38.8b | AU$34.3b | AU$987.5m | 35.8x | 39.3x | 1.1x |
| Sat, 07 Feb 2026 | AU$37.3b | AU$35.2b | AU$2.0b | 29.1x | 18.9x | 1.1x |
| Mon, 05 Jan 2026 | AU$38.9b | AU$35.2b | AU$2.0b | 16.5x | 19.5x | 1.1x |
| Wed, 03 Dec 2025 | AU$39.6b | AU$35.2b | AU$2.0b | 18.3x | 19.7x | 1.1x |
| Fri, 31 Oct 2025 | AU$41.0b | AU$35.2b | AU$2.0b | 16.5x | 20.4x | 1.2x |
| Sun, 28 Sep 2025 | AU$40.3b | AU$35.3b | AU$2.0b | 19x | 20x | 1.1x |
| Tue, 26 Aug 2025 | AU$40.5b | AU$35.3b | AU$820.0m | 15x | 49.4x | 1.1x |
| Thu, 24 Jul 2025 | AU$39.2b | AU$35.1b | AU$952.6m | 15.7x | 41.1x | 1.1x |
| Sat, 21 Jun 2025 | AU$37.8b | AU$35.1b | AU$942.5m | 15.1x | 40.1x | 1.1x |
| Mon, 19 May 2025 | AU$37.5b | AU$35.1b | AU$950.7m | 15.3x | 39.5x | 1.1x |
| Wed, 16 Apr 2025 | AU$35.7b | AU$35.1b | AU$945.7m | 14.6x | 37.7x | 1x |
| Fri, 14 Mar 2025 | AU$35.1b | AU$35.1b | AU$938.4m | 14.3x | 37.4x | 1x |
| Sun, 09 Feb 2025 | AU$34.7b | AU$33.3b | AU$3.1b | 12.4x | 11.3x | 1x |
| Tue, 07 Jan 2025 | AU$36.4b | AU$33.3b | AU$3.1b | 13x | 11.8x | 1.1x |
| Thu, 05 Dec 2024 | AU$35.9b | AU$33.2b | AU$3.1b | 13.5x | 11.7x | 1.1x |
| Sat, 02 Nov 2024 | AU$33.5b | AU$33.2b | AU$3.1b | 12.2x | 10.9x | 1x |
| Mon, 30 Sep 2024 | AU$36.1b | AU$33.3b | AU$3.0b | 12.2x | 12x | 1.1x |
| Wed, 28 Aug 2024 | AU$35.8b | AU$33.1b | AU$3.2b | 17.6x | 11.1x | 1.1x |
| Fri, 26 Jul 2024 | AU$36.3b | AU$31.6b | AU$3.1b | 18.8x | 11.6x | 1.1x |
| Sun, 23 Jun 2024 | AU$37.8b | AU$31.5b | AU$3.2b | 19.2x | 11.9x | 1.2x |
| Tue, 21 May 2024 | AU$36.6b | AU$31.5b | AU$3.2b | 18.2x | 11.6x | 1.2x |
| Thu, 18 Apr 2024 | AU$34.0b | AU$31.5b | AU$3.2b | 17.6x | 10.8x | 1.1x |
| Sat, 16 Mar 2024 | AU$33.2b | AU$31.5b | AU$3.2b | 25.3x | 10.5x | 1.1x |
| Mon, 12 Feb 2024 | AU$31.6b | AU$32.3b | AU$1.6b | 20.9x | 19.4x | 1x |
| Wed, 10 Jan 2024 | AU$32.9b | AU$34.0b | -AU$14,007,481.00 | 20.1x | -2346.3x | 1x |
| Fri, 08 Dec 2023 | AU$32.1b | AU$34.0b | -AU$15,460,491.00 | 20.2x | -2076.7x | 0.9x |
| Sun, 05 Nov 2023 | AU$33.2b | AU$34.0b | -AU$16,118,547.00 | 21x | -2061.9x | 1x |
| Tue, 03 Oct 2023 | AU$34.1b | AU$34.1b | AU$75.1m | 14.5x | 454.2x | 1x |
| Thu, 31 Aug 2023 | AU$34.6b | AU$34.1b | AU$66.0m | 14.2x | 523.6x | 1x |
| Sat, 29 Jul 2023 | AU$35.7b | AU$35.6b | -AU$1,363,338,273.00 | 13.3x | -26.2x | 1x |
Price to Earnings Ratio
-26.2x
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 38.5x which is higher than its 3-year average PE of -204x.
- 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 | -0.20% | |
| Utilities | 1.26% | |
| Electric Utilities | 1.43% | |
| Gas Utilities | 1.40% | |
| Other Utilities | 0.62% | |
| Water Utilities | 0.24% | |
| Renewable Energy | -0.53% | |
Industry PE
- Investors are most optimistic about the Gas Utilities industry which is trading above its 3-year average PE ratio of 5.0x.
- Analysts are expecting annual earnings growth of 20.5% 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 65% 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 47% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| APA APA Group | AU$10.16 | 1.8% +AU$238.3m | 22.4% | PE83x | |
| AGL AGL Energy | AU$8.28 | 0.7% +AU$40.4m | -16.0% | PS0.4x | |
| CCE Carnegie Clean Energy | AU$0.24 | 22.5% +AU$18.3m | 380.4% | PS239.5x | |
| JNS Janus Electric Holdings | AU$0.24 | 58.1% +AU$13.2m | 53.1% | PS18.7x | |
| RIV Rivco Australia | AU$1.43 | 1.4% +AU$3.2m | -6.9% | PE10.3x |
