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Canadian (TSX) Gas Utilities Industry Analysis

UpdatedMar 02, 2026
DataAggregated Company Financials
Companies4
  • 7D2.5%
  • 3M5.0%
  • 1Y26.5%
  • YTD8.1%

Over the last 7 days, the Gas Utilities industry has risen 2.5%, driven by gains from AltaGas of 2.6%. During this same period, the EverGen Infrastructure underperformed, falling 6.9%. This means that the industry has gained 26% over the past year. As for the next few years, earnings are expected to grow by 1.3% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 04 Mar 2026CA$15.9bCA$16.1bCA$809.7m18.1x19.6x1x
Fri, 30 Jan 2026CA$14.7bCA$16.1bCA$752.7m17.2x19.5x0.9x
Sun, 28 Dec 2025CA$14.7bCA$16.1bCA$753.0m17.6x19.5x0.9x
Tue, 25 Nov 2025CA$15.0bCA$16.3bCA$754.2m18x19.9x0.9x
Thu, 23 Oct 2025CA$14.6bCA$16.4bCA$827.1m16.6x17.6x0.9x
Sat, 20 Sep 2025CA$14.1bCA$16.4bCA$826.2m16.4x17.1x0.9x
Mon, 18 Aug 2025CA$14.0bCA$16.4bCA$825.7m16x17x0.9x
Wed, 16 Jul 2025CA$13.7bCA$16.3bCA$569.3m21.4x24.1x0.8x
Fri, 13 Jun 2025CA$13.4bCA$16.3bCA$569.1m20.7x23.5x0.8x
Sun, 11 May 2025CA$13.0bCA$16.2bCA$498.8m11.2x26x0.8x
Tue, 08 Apr 2025CA$12.6bCA$15.9bCA$519.2m18.9x24.2x0.8x
Thu, 06 Mar 2025CA$12.2bCA$16.0bCA$428.8m22.2x28.5x0.8x
Sat, 01 Feb 2025CA$11.5bCA$16.1bCA$505.3m40.3x22.9x0.7x
Mon, 30 Dec 2024CA$11.4bCA$16.1bCA$505.1m42.1x22.6x0.7x
Wed, 27 Nov 2024CA$11.7bCA$16.0bCA$505.6m44.5x23.2x0.7x
Fri, 25 Oct 2024CA$11.9bCA$16.2bCA$421.6m23.6x28.2x0.7x
Sun, 22 Sep 2024CA$11.7bCA$16.1bCA$421.6m22.7x27.8x0.7x
Tue, 20 Aug 2024CA$12.0bCA$16.1bCA$425.5m14x28.2x0.7x
Thu, 18 Jul 2024CA$11.3bCA$16.1bCA$628.0m15.2x18x0.7x
Sat, 15 Jun 2024CA$11.4bCA$16.1bCA$628.1m14.9x18.2x0.7x
Mon, 13 May 2024CA$11.5bCA$16.0bCA$653.0m15x17.6x0.7x
Wed, 10 Apr 2024CA$11.1bCA$16.4bCA$694.0m13.4x16x0.7x
Fri, 08 Mar 2024CA$11.3bCA$17.0bCA$635.0m15x17.7x0.7x
Sun, 04 Feb 2024CA$10.6bCA$17.1bCA$620.4m14.1x17x0.6x
Tue, 02 Jan 2024CA$10.3bCA$17.1bCA$620.3m13.5x16.6x0.6x
Thu, 30 Nov 2023CA$10.1bCA$17.1bCA$619.3m13.1x16.3x0.6x
Sat, 28 Oct 2023CA$9.4bCA$17.1bCA$521.5m7.5x18x0.5x
Mon, 25 Sep 2023CA$10.3bCA$17.1bCA$521.4m8.2x19.8x0.6x
Wed, 23 Aug 2023CA$9.9bCA$17.1bCA$519.1m10.8x19x0.6x
Fri, 21 Jul 2023CA$9.5bCA$17.8bCA$378.5m12.4x25x0.5x
Sun, 18 Jun 2023CA$9.2bCA$17.8bCA$378.5m11.3x24.4x0.5x
Tue, 16 May 2023CA$8.8bCA$17.8bCA$379.3m9.8x23.3x0.5x
Thu, 13 Apr 2023CA$8.7bCA$17.5bCA$285.6m12.1x30.4x0.5x
Sat, 11 Mar 2023CA$8.9bCA$17.5bCA$285.7m11.7x31.1x0.5x
Price to Earnings Ratio

31.1x


Total Market Cap: CA$8.9bTotal Earnings: CA$285.7mTotal Revenue: CA$17.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Gas Utilities Industry Price to Earnings3Y Average 21.5x202420252026
Current Industry PE
  • Investors are relatively neutral on the Canadian Gas 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 21.6x.
  • The industry is trading close to its 3-year average PS ratio of 0.71x.
Past Earnings Growth
  • The earnings for companies in the Gas Utilities industry have grown 42% per year over the last three years.
  • Meanwhile revenues for these companies have declined 2.8% per year.
  • This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.

Industry Trends

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

CA Market1.82%
Utilities1.94%
Gas Utilities2.49%
Gas Utilities2.49%
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
ALA AltaGasCA$47.574.2%
+CA$594.6m		33.7%PE19.9x
SPB Superior PlusCA$6.726.7%
+CA$90.8m		-0.1%PE18.5x

Latest News

SPB
CA$6.72
Superior Plus
7D
6.7%
1Y
-0.1%
ALA
CA$47.57
AltaGas
7D
4.2%
1Y
33.7%

ALA: Montney Storage And Export Projects Will Support Steady Future Returns

AltaGas’s analyst price target is unchanged at CA$47.09, as analysts keep their views steady with only small model tweaks to the discount rate, revenue growth, profit margin and future P/E assumptions. What's in the News Pipestone II has reached full commercial operations, with Train II running at more than 90% of design capacity and fully contracted under long term take or pay agreements, alongside Pipestone I as an integrated two train complex providing gas processing and liquids handling in the Alberta Montney.
EVGN
CA$0.37
EverGen Infrastructure
7D
-9.8%
1Y
-58.0%

Is EverGen Infrastructure (CVE:EVGN) Weighed On By Its Debt Load?

Dec 21
Is EverGen Infrastructure (CVE:EVGN) Weighed On By Its Debt Load?