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Canadian (TSX) Electric Utilities Industry Analysis

UpdatedMar 25, 2026
DataAggregated Company Financials
Companies4
  • 7D-4.8%
  • 3M6.0%
  • 1Y17.9%
  • YTD5.0%

Over the last 7 days, the Electric Utilities industry has dropped 5.5%, driven by pullbacks in Fortis and Hydro One of 5.5% and 6.0%, respectively. In the past year, the industry has gained 17%. As for the next few years, earnings are expected to grow by 7.0% per annum.

Industry Valuation and Performance

Has the Canadian Electric Utilities Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 25 Mar 2026CA$94.0bCA$30.3bCA$4.1b21.6x22.9x3.1x
Fri, 20 Feb 2026CA$94.8bCA$30.0bCA$4.2b21.1x22.6x3.2x
Sun, 18 Jan 2026CA$89.1bCA$29.7bCA$4.1b20.1x21.5x3x
Tue, 16 Dec 2025CA$87.2bCA$29.7bCA$4.1b19.6x21.1x2.9x
Thu, 13 Nov 2025CA$88.3bCA$29.6bCA$4.1b20.1x21.6x3x
Sat, 11 Oct 2025CA$85.8bCA$29.1bCA$3.9b22.3x22.1x2.9x
Mon, 08 Sep 2025CA$84.1bCA$29.1bCA$3.9b21.1x21.7x2.9x
Wed, 06 Aug 2025CA$84.0bCA$28.7bCA$3.8b21.4x21.9x2.9x
Fri, 04 Jul 2025CA$80.5bCA$28.6bCA$3.8b20.3x21.3x2.8x
Sun, 01 Jun 2025CA$83.2bCA$28.6bCA$3.8b21x22x2.9x
Tue, 29 Apr 2025CA$83.5bCA$27.5bCA$3.3b23.9x25.3x3x
Thu, 27 Mar 2025CA$79.2bCA$27.5bCA$3.3b22.5x24x2.9x
Sat, 22 Feb 2025CA$75.7bCA$27.4bCA$3.3b21.5x23.1x2.8x
Mon, 20 Jan 2025CA$73.4bCA$27.5bCA$3.4b21.2x21.6x2.7x
Wed, 18 Dec 2024CA$72.9bCA$27.5bCA$3.4b21x21.5x2.7x
Fri, 15 Nov 2024CA$72.1bCA$27.5bCA$3.4b21.4x21.3x2.6x
Sun, 13 Oct 2024CA$71.2bCA$27.1bCA$3.5b19.6x20.6x2.6x
Tue, 10 Sep 2024CA$73.8bCA$27.1bCA$3.5b20x21.4x2.7x
Thu, 08 Aug 2024CA$69.9bCA$26.8bCA$3.3b20.7x21x2.6x
Sat, 06 Jul 2024CA$63.9bCA$26.7bCA$3.3b19x19.4x2.4x
Mon, 03 Jun 2024CA$64.5bCA$26.7bCA$3.3b19.5x19.6x2.4x
Wed, 01 May 2024CA$63.6bCA$27.2bCA$3.6b15.8x17.6x2.3x
Fri, 29 Mar 2024CA$64.2bCA$27.2bCA$3.6b15.8x17.8x2.4x
Sun, 25 Feb 2024CA$65.0bCA$27.6bCA$3.8b14.6x17.1x2.4x
Tue, 23 Jan 2024CA$64.2bCA$27.8bCA$3.8b14.8x16.9x2.3x
Thu, 21 Dec 2023CA$64.4bCA$27.8bCA$3.8b14.5x17x2.3x
Sat, 18 Nov 2023CA$64.3bCA$27.8bCA$3.8b15x17x2.3x
Mon, 16 Oct 2023CA$61.2bCA$27.8bCA$3.7b16.3x16.4x2.2x
Wed, 13 Sep 2023CA$61.9bCA$27.8bCA$3.7b16.3x16.6x2.2x
Fri, 11 Aug 2023CA$63.2bCA$27.8bCA$3.6b16.3x17.4x2.3x
Sun, 09 Jul 2023CA$64.6bCA$27.6bCA$3.6b16.8x17.9x2.3x
Tue, 06 Jun 2023CA$67.0bCA$27.6bCA$3.6b17.5x18.6x2.4x
Thu, 04 May 2023CA$69.8bCA$26.7bCA$3.4b19.5x20.8x2.6x
Sat, 01 Apr 2023CA$66.5bCA$26.7bCA$3.4b18.6x19.8x2.5x
Price to Earnings Ratio

19.8x


Total Market Cap: CA$66.5bTotal Earnings: CA$3.4bTotal Revenue: CA$26.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Electric Utilities Industry Price to Earnings3Y Average 20.2x202420252026
Current Industry PE
  • Investors are optimistic on the Canadian Electric Utilities industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 22.9x which is higher than its 3-year average PE of 20.2x.
  • The 3-year average PS ratio of 2.6x is lower than the industry's current PS ratio of 3.1x.
Past Earnings Growth
  • The earnings for companies in the Electric Utilities industry have grown 7.0% per year over the last three years.
  • Revenues for these companies have grown 4.3% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

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

CA Market-2.66%
Utilities-2.29%
Electric Utilities-4.79%
Electric Utilities-4.79%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
CUP.U Caribbean Utilities CompanyUS$13.751.9%
+US$10.6m		3.3%PE12.6x

Latest News

EMA
CA$69.60
Emera
7D
-4.9%
1Y
18.1%
H
CA$57.09
Hydro One
7D
-4.6%
1Y
16.3%

H: Stable Outlook And Recent Commentary Will Shape Measured Repricing Expectations

Hydro One's analyst fair value estimate has shifted from CA$53.68 to CA$54.79. This change reflects a series of recent price target increases from analysts who point to updated revenue and earnings assumptions while generally maintaining mid range ratings on the stock.
FTS
CA$75.84
Fortis
7D
-5.0%
1Y
19.5%

FTS: Fairly Valued Outlook Will Rely On Regulated Returns And Funding Conditions

Analysts have nudged the average price target for Fortis higher by roughly CA$1 to about CA$76.43. This reflects a modest adjustment to fair value estimates alongside slightly lower discount rate assumptions, while revenue growth, profit margin and future P/E expectations are being kept essentially unchanged.
CUP.U
US$13.75
Caribbean Utilities Company
7D
1.9%
1Y
3.3%