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Canadian (TSX) Gas Utilities Industry Analysis

UpdatedJan 29, 2026
DataAggregated Company Financials
Companies4
  • 7D2.2%
  • 3M1.5%
  • 1Y23.5%
  • YTD-0.03%

The Gas Utilities industry has stayed flat over the last week. The past year has been better, since the industry has gained 23% in that time. Looking forward, earnings are forecast to grow by 5.4% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 29 Jan 2026CA$14.6bCA$16.1bCA$752.9m17.5x19.4x0.9x
Sat, 27 Dec 2025CA$14.7bCA$16.1bCA$753.0m17.6x19.5x0.9x
Mon, 24 Nov 2025CA$15.1bCA$16.3bCA$754.1m18.2x20.1x0.9x
Wed, 22 Oct 2025CA$14.5bCA$16.4bCA$827.3m16.4x17.6x0.9x
Fri, 19 Sep 2025CA$14.1bCA$16.4bCA$826.2m15.9x17.1x0.9x
Sun, 17 Aug 2025CA$14.0bCA$16.4bCA$825.7m16x17x0.9x
Tue, 15 Jul 2025CA$13.6bCA$16.3bCA$569.2m21.1x23.8x0.8x
Thu, 12 Jun 2025CA$13.3bCA$16.3bCA$569.2m20.6x23.4x0.8x
Sat, 10 May 2025CA$13.2bCA$16.2bCA$498.8m11.2x26.5x0.8x
Mon, 07 Apr 2025CA$12.6bCA$15.9bCA$519.2m19.1x24.2x0.8x
Wed, 05 Mar 2025CA$12.3bCA$16.0bCA$428.3m21.7x28.8x0.8x
Fri, 31 Jan 2025CA$11.5bCA$16.1bCA$505.2m41.3x22.8x0.7x
Sun, 29 Dec 2024CA$11.4bCA$16.1bCA$505.1m42.1x22.6x0.7x
Tue, 26 Nov 2024CA$12.0bCA$15.9bCA$505.5m44.2x23.8x0.8x
Thu, 24 Oct 2024CA$12.4bCA$16.2bCA$421.6m23.7x29.4x0.8x
Sat, 21 Sep 2024CA$12.2bCA$16.1bCA$421.6m22.7x28.9x0.8x
Mon, 19 Aug 2024CA$12.0bCA$16.1bCA$425.5m14.1x28.2x0.7x
Wed, 17 Jul 2024CA$11.4bCA$16.0bCA$628.0m15.2x18.1x0.7x
Fri, 14 Jun 2024CA$11.4bCA$16.1bCA$628.1m15.1x18.2x0.7x
Sun, 12 May 2024CA$11.5bCA$16.0bCA$653.0m15x17.6x0.7x
Tue, 09 Apr 2024CA$11.1bCA$16.4bCA$694.0m13.5x16x0.7x
Thu, 07 Mar 2024CA$11.1bCA$17.0bCA$635.0m14.9x17.5x0.7x
Sat, 03 Feb 2024CA$10.6bCA$17.1bCA$620.4m14.1x17x0.6x
Mon, 01 Jan 2024CA$10.3bCA$17.1bCA$620.3m13.5x16.6x0.6x
Wed, 29 Nov 2023CA$10.3bCA$17.1bCA$619.3m13x16.6x0.6x
Fri, 27 Oct 2023CA$9.5bCA$17.1bCA$521.5m7.6x18.2x0.6x
Sun, 24 Sep 2023CA$10.3bCA$17.1bCA$521.4m8.2x19.8x0.6x
Tue, 22 Aug 2023CA$10.0bCA$17.1bCA$519.1m10.9x19.3x0.6x
Thu, 20 Jul 2023CA$9.4bCA$17.8bCA$378.4m12.3x24.7x0.5x
Sat, 17 Jun 2023CA$9.2bCA$17.8bCA$378.5m11.3x24.4x0.5x
Mon, 15 May 2023CA$8.8bCA$17.8bCA$379.3m9.8x23.3x0.5x
Wed, 12 Apr 2023CA$8.7bCA$17.5bCA$285.6m12x30.4x0.5x
Fri, 10 Mar 2023CA$9.1bCA$17.5bCA$285.6m11.9x31.8x0.5x
Sun, 05 Feb 2023CA$9.1bCA$16.5bCA$36.8m22.1x247.2x0.6x
Price to Earnings Ratio

247.2x


Total Market Cap: CA$9.1bTotal Earnings: CA$36.8mTotal Revenue: CA$16.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Gas Utilities Industry Price to Earnings3Y Average 26.7x202420252026
Current Industry PE
  • Investors are pessimistic on the Canadian Gas Utilities industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 19.3x which is lower than its 3-year average PE of 26.9x.
  • The industry is trading close to its 3-year average PS ratio of 0.70x.
Past Earnings Growth
  • The earnings for companies in the Gas Utilities industry have grown 173% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Trends

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

CA Market1.18%
Utilities1.32%
Gas Utilities2.21%
Gas Utilities2.21%
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$41.151.0%
+CA$124.5m		21.9%PE17.2x
SPB Superior PlusCA$7.383.5%
+CA$54.5m		19.4%PE74.8x

Latest News

ALA
CA$41.15
AltaGas
7D
1.0%
1Y
21.9%

ALA: Dividend Growth And New Equity Offering Will Support Future Upside

Narrative Update: AltaGas Analysts have kept their fair value target for AltaGas steady at $47.09. Updated assumptions point to a lower revenue growth outlook of about 0.66% and a higher profit margin of about 6.18%, along with a slightly higher future P/E of about 21.54x, which together frame how they see the current risk and return trade off.
SPB
CA$7.38
Superior Plus
7D
3.5%
1Y
19.4%

SPB: Share Repurchases And CNG Execution Will Support Future P/E Recovery

Analysts have trimmed their average price expectations for Superior Plus to about C$9 to C$10, reflecting lowered targets from C$12 to C$10 and from C$10 to C$9, alongside mixed ratings and ongoing concerns around pricing pressure in the Certarus CNG business. One firm, however, shifted to a Buy stance with a C$8.50 target.
EVGN
CA$0.43
EverGen Infrastructure
7D
-3.3%
1Y
-63.7%

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

Dec 21
Is EverGen Infrastructure (CVE:EVGN) Weighed On By Its Debt Load?
CFY
CA$0.13
CF Energy
7D
-3.8%
1Y
-13.8%