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Canadian (TSX) Electric Utilities Industry Analysis

UpdatedFeb 05, 2026
DataAggregated Company Financials
Companies4
  • 7D2.0%
  • 3M3.6%
  • 1Y20.3%
  • YTD2.3%

The Electric Utilities industry has stayed flat over the last week. As for the the longer term, the industry is up 21% over the past 12 months. As for the next few years, earnings are expected to grow by 6.5% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 05 Feb 2026CA$90.9bCA$29.7bCA$4.1b20.5x22x3.1x
Sat, 03 Jan 2026CA$89.6bCA$29.7bCA$4.1b19.9x21.6x3x
Mon, 01 Dec 2025CA$90.5bCA$29.7bCA$4.1b20.2x21.9x3x
Wed, 29 Oct 2025CA$88.5bCA$29.1bCA$3.9b22x22.8x3x
Fri, 26 Sep 2025CA$84.0bCA$29.1bCA$3.9b21.4x21.7x2.9x
Sun, 24 Aug 2025CA$85.9bCA$29.1bCA$3.9b21.7x22.2x2.9x
Tue, 22 Jul 2025CA$80.5bCA$28.6bCA$3.8b20.9x21.3x2.8x
Thu, 19 Jun 2025CA$80.7bCA$28.6bCA$3.8b20.3x21.4x2.8x
Sat, 17 May 2025CA$81.4bCA$28.6bCA$3.8b20.4x21.5x2.8x
Mon, 14 Apr 2025CA$79.4bCA$27.5bCA$3.3b22.6x24.1x2.9x
Wed, 12 Mar 2025CA$79.4bCA$27.5bCA$3.3b22.4x24.1x2.9x
Fri, 07 Feb 2025CA$75.3bCA$27.5bCA$3.4b21.8x22.2x2.7x
Sun, 05 Jan 2025CA$73.2bCA$27.5bCA$3.4b21.2x21.5x2.7x
Tue, 03 Dec 2024CA$74.8bCA$27.5bCA$3.4b21.9x22x2.7x
Thu, 31 Oct 2024CA$72.8bCA$27.1bCA$3.5b20x21.1x2.7x
Sat, 28 Sep 2024CA$74.5bCA$27.1bCA$3.5b20.5x21.6x2.7x
Mon, 26 Aug 2024CA$71.4bCA$27.1bCA$3.5b19.4x20.7x2.6x
Wed, 24 Jul 2024CA$66.7bCA$26.7bCA$3.3b20.1x20.3x2.5x
Fri, 21 Jun 2024CA$62.5bCA$26.7bCA$3.3b18.8x19x2.3x
Sun, 19 May 2024CA$66.4bCA$26.7bCA$3.3b19.9x20.2x2.5x
Tue, 16 Apr 2024CA$62.4bCA$27.2bCA$3.6b15.4x17.3x2.3x
Thu, 14 Mar 2024CA$65.5bCA$27.2bCA$3.6b15.8x18.1x2.4x
Sat, 10 Feb 2024CA$63.5bCA$27.8bCA$3.8b14.4x16.8x2.3x
Mon, 08 Jan 2024CA$65.4bCA$27.8bCA$3.8b15.1x17.3x2.4x
Wed, 06 Dec 2023CA$63.4bCA$27.8bCA$3.8b14.6x16.7x2.3x
Fri, 03 Nov 2023CA$62.9bCA$28.0bCA$3.8b15.3x16.5x2.2x
Sun, 01 Oct 2023CA$59.4bCA$27.8bCA$3.7b15.4x15.9x2.1x
Tue, 29 Aug 2023CA$61.9bCA$27.8bCA$3.7b16.3x16.6x2.2x
Thu, 27 Jul 2023CA$66.0bCA$27.6bCA$3.6b16.8x18.3x2.4x
Sat, 24 Jun 2023CA$64.2bCA$27.6bCA$3.6b17.2x17.8x2.3x
Mon, 22 May 2023CA$67.8bCA$27.6bCA$3.6b18x18.8x2.5x
Wed, 19 Apr 2023CA$68.9bCA$26.7bCA$3.4b19.2x20.5x2.6x
Fri, 17 Mar 2023CA$65.6bCA$26.7bCA$3.4b18.3x19.5x2.5x
Sun, 12 Feb 2023CA$63.1bCA$25.5bCA$3.1b19.6x20.1x2.5x
Price to Earnings Ratio

20.1x


Total Market Cap: CA$63.1bTotal Earnings: CA$3.1bTotal Revenue: CA$25.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Electric Utilities Industry Price to Earnings3Y Average 20.1x202420252026
Current Industry PE
  • Investors are relatively neutral on the Canadian Electric Utilities industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 20.1x.
  • The 3-year average PS ratio of 2.6x is lower than the industry's current PS ratio of 3.0x.
Past Earnings Growth
  • The earnings for companies in the Electric Utilities industry have grown 9.7% per year over the last three years.
  • Revenues for these companies have grown 5.2% 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-1.32%
Utilities1.12%
Electric Utilities2.01%
Electric Utilities2.01%
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
FTS FortisCA$74.222.6%
+CA$953.0m		19.1%PE22.1x
H Hydro OneCA$54.792.0%
+CA$653.8m		20.2%PE25.2x
EMA EmeraCA$68.740.9%
+CA$184.1m		23.7%PE18.9x
CUP.U Caribbean Utilities CompanyUS$13.501.6%
+US$8.9m		0.1%PE12.4x

Latest News

H
CA$54.79
Hydro One
7D
2.0%
1Y
20.2%

H: Stable Outlook And Labour Negotiations Will Shape Measured Repricing Potential

Hydro One’s updated analyst price target ticks slightly lower to about C$52.07 from C$52.21. Analysts outline higher revenue growth assumptions, modestly softer profit margins and a small adjustment to future P/E expectations, with recent Street targets ranging from C$52 to C$57.
FTS
CA$74.22
Fortis
7D
2.6%
1Y
19.1%

FTS: Fairly Valued Outlook Will Depend On Regulated Earnings Profile Assumptions

Analysts lifted their price target on Fortis by $3, citing updated assumptions for discount rates, revenue growth, profit margins and future P/E that they view as better aligned with current conditions and the company’s earnings profile. Analyst Commentary Bullish Takeaways Bullish analysts see the higher price target as more consistent with updated discount rate assumptions, which they view as better matched to Fortis's risk profile and cash flow visibility.
EMA
CA$68.74
Emera
7D
0.9%
1Y
23.7%

EMA: Premium Pricing And Equity Program Will Shape Future Risk Reward Balance

Analysts have trimmed their average fair value estimate for Emera by about C$0.43 to roughly C$68.79. The revised figure reflects updated price targets that take into account a premium valuation, regulatory uncertainty in Nova Scotia, and more cautious expectations around growth beyond the Florida business.
CUP.U
US$13.50
Caribbean Utilities Company
7D
1.6%
1Y
0.1%