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Canadian (TSX) Utilities Sector Analysis

UpdatedAug 26, 2025
DataAggregated Company Financials
Companies24
  • 7D-0.4%
  • 3M3.5%
  • 1Y14.9%
  • YTD11.7%

Last week, the Utilities industry hasn't moved much but Superior Plus is up 3.5% in that time. The past year has been better, since the industry has gained 15% in that time. As for the next few years, earnings are expected to grow by 17% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 26 Aug 2025CA$169.6bCA$75.2bCA$5.3b19.6x32x2.3x
Thu, 24 Jul 2025CA$167.8bCA$74.4bCA$5.8b19.9x29x2.3x
Sat, 21 Jun 2025CA$164.4bCA$75.6bCA$5.8b19.7x28.3x2.2x
Mon, 19 May 2025CA$162.8bCA$75.9bCA$5.8b20x28x2.1x
Wed, 16 Apr 2025CA$155.9bCA$74.5bCA$5.5b20.5x28.4x2.1x
Fri, 14 Mar 2025CA$156.4bCA$75.0bCA$5.5b20.1x28.6x2.1x
Sun, 09 Feb 2025CA$148.8bCA$75.4bCA$5.1b20.4x28.9x2x
Tue, 07 Jan 2025CA$146.1bCA$75.3bCA$5.3b20.4x27.5x1.9x
Thu, 05 Dec 2024CA$165.9bCA$81.7bCA$3.5b20.6x47.1x2x
Sat, 02 Nov 2024CA$161.4bCA$81.0bCA$6.9b18.4x23.4x2x
Mon, 30 Sep 2024CA$166.1bCA$80.7bCA$6.9b19.5x24x2.1x
Wed, 28 Aug 2024CA$155.1bCA$80.6bCA$6.9b17.8x22.5x1.9x
Fri, 26 Jul 2024CA$150.4bCA$80.3bCA$7.2b14.8x20.8x1.9x
Sun, 23 Jun 2024CA$143.6bCA$80.1bCA$7.2b13.7x19.9x1.8x
Tue, 21 May 2024CA$151.7bCA$79.9bCA$7.2b14.9x21x1.9x
Thu, 18 Apr 2024CA$133.3bCA$81.0bCA$6.3b13.7x21.2x1.6x
Sat, 16 Mar 2024CA$140.0bCA$80.7bCA$6.3b13.7x22.3x1.7x
Mon, 12 Feb 2024CA$138.9bCA$82.0bCA$6.2b14.5x22.3x1.7x
Wed, 10 Jan 2024CA$152.4bCA$85.3bCA$8.7b14.8x17.4x1.8x
Fri, 08 Dec 2023CA$147.4bCA$85.6bCA$8.8b14.5x16.8x1.7x
Sun, 05 Nov 2023CA$143.4bCA$85.9bCA$8.7b13.3x16.5x1.7x
Tue, 03 Oct 2023CA$135.6bCA$85.2bCA$6.8b13x20x1.6x
Thu, 31 Aug 2023CA$149.0bCA$85.0bCA$6.8b15.1x22x1.8x
Sat, 29 Jul 2023CA$156.4bCA$84.5bCA$8.0b13.9x19.6x1.9x
Mon, 26 Jun 2023CA$153.8bCA$85.2bCA$7.9b14.9x19.4x1.8x
Wed, 24 May 2023CA$163.8bCA$85.5bCA$8.0b14.7x20.6x1.9x
Fri, 21 Apr 2023CA$164.5bCA$82.7bCA$7.1b16.3x23x2x
Sun, 19 Mar 2023CA$158.4bCA$83.0bCA$7.2b16.1x22.1x1.9x
Tue, 14 Feb 2023CA$153.3bCA$80.0bCA$7.0b17.8x22x1.9x
Thu, 12 Jan 2023CA$155.2bCA$79.3bCA$6.0b17.6x26x2x
Sat, 10 Dec 2022CA$157.5bCA$79.5bCA$6.0b19.4x26.3x2x
Mon, 07 Nov 2022CA$156.8bCA$77.8bCA$6.2b19.8x25.5x2x
Wed, 05 Oct 2022CA$167.4bCA$75.7bCA$5.9b20.5x28.5x2.2x
Fri, 02 Sep 2022CA$180.6bCA$75.2bCA$5.8b22.2x31x2.4x
Price to Earnings Ratio

31x


Total Market Cap: CA$180.6bTotal Earnings: CA$5.8bTotal Revenue: CA$75.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Utilities Sector Price to Earnings3Y Average 24.7x202320242025
Current Industry PE
  • Investors are optimistic on the Canadian Utilities industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 32.0x which is higher than its 3-year average PE of 24.7x.
  • The 3-year average PS ratio of 1.9x is lower than the industry's current PS ratio of 2.3x.
Past Earnings Growth
  • The earnings for companies in the Utilities industry have declined 3.1% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

Which industries have driven the changes within the Canadian Utilities sector?

CA Market1.05%
Utilities-0.45%
Gas Utilities0.034%
Other Utilities0.0021%
Water Utilities0%0
Electric Utilities-0.46%
Renewable Energy-0.78%
Industry PE
  • Investors are most optimistic about the Other Utilities industry which is trading above its 3-year average PE ratio of 20.4x.
    • Analysts are expecting annual earnings growth of 21.0%, which is higher than its past year's earnings decline of 16.9% per year.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 40% over the next 5 years.
  • This is better than its past earnings decline of 45% per year.
  • In contrast, the Gas Utilities industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
SPB Superior PlusCA$7.333.5%
+CA$55.7m		-4.9%PE27.2x
PIF Polaris Renewable EnergyCA$12.701.8%
+CA$4.6m		5.3%PS2.5x
EMA EmeraCA$65.950.02%
+CA$3.0m		30.5%PE22.5x
CU Canadian UtilitiesCA$38.120.03%
+CA$2.7m		14.2%PE23.2x

Latest News

EMA
CA$65.95
Emera
7D
0.02%
1Y
30.5%
ALA
CA$41.45
AltaGas
7D
-0.4%
1Y
21.8%

Here's Why We Think AltaGas (TSE:ALA) Is Well Worth Watching

Aug 25
Here's Why We Think AltaGas (TSE:ALA) Is Well Worth Watching
TA
CA$16.85
TransAlta
7D
-2.5%
1Y
40.2%
CU
CA$38.12
Canadian Utilities
7D
0.03%
1Y
14.2%
CUP.U
US$13.51
Caribbean Utilities Company
7D
-15.5%
1Y
-3.7%
NPI
CA$22.28
Northland Power
7D
-1.0%
1Y
1.7%
H
CA$50.57
Hydro One
7D
-0.4%
1Y
12.9%
SPB
CA$7.33
Superior Plus
7D
3.5%
1Y
-4.9%
BLX
CA$29.53
Boralex
7D
-3.0%
1Y
-10.2%
CPX
CA$58.57
Capital Power
7D
-4.3%
1Y
30.6%
PIF
CA$12.70
Polaris Renewable Energy
7D
1.8%
1Y
5.3%
FTS
CA$69.59
Fortis
7D
-0.3%
1Y
17.6%