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Australian (ASX) Utilities Sector Analysis

UpdatedApr 03, 2026
DataAggregated Company Financials
Companies15
  • 7D1.9%
  • 3M9.2%
  • 1Y14.2%
  • YTD9.1%

Over the last 7 days, the Utilities industry has risen 1.4%, driven by gains from Origin Energy of 1.9%. Meanwhile, Energy World actually underperformed within the industry, shrinking 11% in the last week. This takes the industry's 12 month performance to a gain of 13%. 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
Fri, 03 Apr 2026AU$42.1bAU$34.3bAU$986.2m39.4x42.7x1.2x
Sun, 01 Mar 2026AU$40.2bAU$34.4bAU$1.0b27.2x39.8x1.2x
Tue, 27 Jan 2026AU$39.1bAU$35.2bAU$2.0b31.9x19.7x1.1x
Thu, 25 Dec 2025AU$39.2bAU$35.2bAU$2.0b17.1x19.6x1.1x
Sat, 22 Nov 2025AU$39.0bAU$35.2bAU$2.0b19.5x19.3x1.1x
Mon, 20 Oct 2025AU$40.1bAU$35.2bAU$2.0b18.9x19.9x1.1x
Wed, 17 Sep 2025AU$40.2bAU$35.3bAU$2.0b17.8x20.1x1.1x
Fri, 15 Aug 2025AU$40.0bAU$34.9bAU$616.8m15x64.9x1.1x
Sun, 13 Jul 2025AU$38.5bAU$35.1bAU$951.2m15.7x40.4x1.1x
Tue, 10 Jun 2025AU$36.9bAU$35.1bAU$945.6m15.1x39.1x1.1x
Thu, 08 May 2025AU$37.6bAU$35.1bAU$958.1m15.5x39.2x1.1x
Sat, 05 Apr 2025AU$35.2bAU$35.1bAU$922.3m14.4x38.2x1x
Mon, 03 Mar 2025AU$36.2bAU$35.1bAU$929.5m14.9x38.9x1x
Wed, 29 Jan 2025AU$36.1bAU$33.3bAU$3.1b13.3x11.7x1.1x
Fri, 27 Dec 2024AU$36.4bAU$33.3bAU$3.1b13.2x11.8x1.1x
Sun, 24 Nov 2024AU$36.4bAU$33.2bAU$3.1b13.9x11.8x1.1x
Tue, 22 Oct 2024AU$35.0bAU$33.2bAU$3.1b12.3x11.4x1.1x
Thu, 19 Sep 2024AU$35.2bAU$33.3bAU$3.0b12.1x11.7x1.1x
Sat, 17 Aug 2024AU$35.7bAU$33.1bAU$3.2b17.6x11.1x1.1x
Mon, 15 Jul 2024AU$37.1bAU$31.6bAU$3.1b19.5x11.8x1.2x
Wed, 12 Jun 2024AU$37.2bAU$31.5bAU$3.2b19.2x11.8x1.2x
Fri, 10 May 2024AU$36.5bAU$31.5bAU$3.2b17.9x11.5x1.2x
Sun, 07 Apr 2024AU$33.9bAU$31.5bAU$3.2b17.6x10.7x1.1x
Tue, 05 Mar 2024AU$32.4bAU$31.5bAU$3.2b26.7x10.3x1x
Thu, 01 Feb 2024AU$32.3bAU$34.0b-AU$15,282,959.0020.3x-2113.3x1x
Sat, 30 Dec 2023AU$32.9bAU$34.0b-AU$12,797,958.0020.6x-2568.6x1x
Mon, 27 Nov 2023AU$33.1bAU$34.0b-AU$15,183,360.0020.9x-2182.9x1x
Wed, 25 Oct 2023AU$34.0bAU$34.0b-AU$17,994,391.0022x-1889.5x1x
Fri, 22 Sep 2023AU$33.8bAU$34.1bAU$75.1m14.2x450.1x1x
Sun, 20 Aug 2023AU$34.2bAU$34.1bAU$96.6m14.1x354.1x1x
Tue, 18 Jul 2023AU$35.1bAU$35.6b-AU$1,363,325,374.0013.5x-25.7x1x
Thu, 15 Jun 2023AU$34.0bAU$35.6b-AU$1,363,311,187.0013.8x-24.9x1x
Sat, 13 May 2023AU$33.3bAU$35.5b-AU$1,369,545,441.008.1x-24.3x0.9x
Mon, 10 Apr 2023AU$33.1bAU$35.5b-AU$1,369,491,758.008.1x-24.2x0.9x
Price to Earnings Ratio

-24.2x


Total Market Cap: AU$33.1bTotal Earnings: -AU$1,369,491,758.00Total Revenue: AU$35.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Utilities Sector Price to Earnings3Y Average -210.8x202420252026
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 -211x.
  • 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 Market0.42%
Utilities1.93%
Renewable Energy4.67%
Gas Utilities2.18%
Electric Utilities1.86%
Other Utilities1.66%
Water Utilities-0.85%
Industry PE
  • Investors are most optimistic about the Gas Utilities industry which is trading above its 3-year average PE ratio of 1.0x.
    • 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 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
ORG Origin EnergyAU$12.591.9%
+AU$395.9m		16.7%PE21.2x
APA APA GroupAU$9.862.2%
+AU$278.0m		24.5%PE80.6x
AGL AGL EnergyAU$9.921.6%
+AU$107.6m		-7.2%PS0.5x
FHE Frontier EnergyAU$0.2419.5%
+AU$22.5m		81.5%PB1.6x
LGI LGIAU$3.501.7%
+AU$6.2m		17.4%PE50.6x

Latest News

APA
AU$9.86
APA Group
7D
2.2%
1Y
24.5%

APA: Future Interim Distribution Mix And Earnings Assumptions Will Support A Measured Outlook

Analysts have kept their A$8.95 price target for APA Group unchanged, pointing to only minor tweaks in assumptions such as a slightly lower discount rate and refined long term P/E and margin inputs. 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, compared with A$0.27 per security for the first half 2025 interim distribution, which the company describes as a 1.9% increase (Key Developments).
RIV
AU$1.45
Rivco Australia
7D
-0.7%
1Y
0.7%
VPR
AU$0.16
Volt Group
7D
14.3%
1Y
6.7%
ORG
AU$12.59
Origin Energy
7D
1.9%
1Y
16.7%

ORG: Updated Production Guidance And Margin Assumptions Will Support Fair Value Outlook

Analysts have nudged their Origin Energy price target up slightly, from A$12.05 to A$12.15, reflecting updated assumptions around revenue growth, profit margins and future P/E expectations. What's in the News Origin Energy updated production guidance for fiscal 2026 to a range of 645 PJ to 680 PJ, compared with the previous range of 635 PJ to 680 PJ, giving a clearer view of expected output for the period (Key Developments).
CCE
AU$0.06
Carnegie Clean Energy
7D
-7.7%
1Y
71.4%
FHE
AU$0.24
Frontier Energy
7D
19.5%
1Y
81.5%
LGI
AU$3.50
LGI
7D
1.7%
1Y
17.4%
AGL
AU$9.92
AGL Energy
7D
1.6%
1Y
-7.2%
DEM
AU$0.093
De.mem
7D
-2.1%
1Y
-19.1%
JNS
AU$0.18
Janus Electric Holdings
7D
36.5%
1Y
n/a
EWC
AU$0.031
Energy World
7D
-11.4%
1Y
138.5%
KPO
AU$0.013
Kalina Power
7D
8.3%
1Y
85.7%