Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Canadian (TSX) Utilities Sector Analysis

UpdatedAug 03, 2026
DataAggregated Company Financials
Companies23
  • 7D-1.9%
  • 3M2.6%
  • 1Y21.1%
  • YTD15.3%

Over the last 7 days, the Utilities industry has dropped 3.0%, driven by a pullback from Fortis of 3.8%. In the past year, the industry has gained 21%. Looking forward, earnings are forecast to grow by 16% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 03 Aug 2026CA$206.2bCA$79.7bCA$5.1b25.5x40.8x2.6x
Wed, 01 Jul 2026CA$210.7bCA$78.0bCA$4.8b28.2x44.1x2.7x
Fri, 29 May 2026CA$207.3bCA$77.6bCA$4.8b26.8x43.4x2.7x
Sun, 26 Apr 2026CA$199.5bCA$76.9bCA$5.3b23.2x38x2.6x
Tue, 24 Mar 2026CA$190.3bCA$77.0bCA$5.3b22.4x36x2.5x
Thu, 19 Feb 2026CA$190.3bCA$76.3bCA$5.8b19.7x32.8x2.5x
Sat, 17 Jan 2026CA$176.6bCA$76.1bCA$5.3b18.8x33.6x2.3x
Mon, 15 Dec 2025CA$173.3bCA$75.9bCA$5.4b18x32.4x2.3x
Wed, 12 Nov 2025CA$181.4bCA$76.0bCA$5.6b18.7x32.5x2.4x
Fri, 10 Oct 2025CA$176.3bCA$75.3bCA$5.3b20.7x33.3x2.3x
Sun, 07 Sep 2025CA$166.3bCA$75.1bCA$5.3b20x31.4x2.2x
Tue, 05 Aug 2025CA$167.6bCA$74.7bCA$5.8b20.3x28.9x2.2x
Thu, 03 Jul 2025CA$164.9bCA$75.5bCA$5.8b20x28.3x2.2x
Sat, 31 May 2025CA$164.8bCA$75.6bCA$5.8b20.4x28.3x2.2x
Mon, 28 Apr 2025CA$161.4bCA$74.4bCA$5.5b21x29.4x2.2x
Wed, 26 Mar 2025CA$158.5bCA$74.8bCA$5.5b20.1x29x2.1x
Fri, 21 Feb 2025CA$150.1bCA$75.5bCA$5.4b21.2x28x2x
Sun, 19 Jan 2025CA$144.2bCA$75.4bCA$5.3b20.8x27.1x1.9x
Tue, 17 Dec 2024CA$161.1bCA$81.9bCA$3.5b21x46x2x
Thu, 14 Nov 2024CA$159.7bCA$81.5bCA$3.9b19.9x41.3x2x
Sat, 12 Oct 2024CA$158.4bCA$81.1bCA$6.9b18.9x22.9x2x
Mon, 09 Sep 2024CA$155.8bCA$80.8bCA$6.9b19.1x22.5x1.9x
Wed, 07 Aug 2024CA$154.0bCA$80.8bCA$6.0b16.7x25.8x1.9x
Fri, 05 Jul 2024CA$146.3bCA$79.9bCA$7.2b13.9x20.3x1.8x
Sun, 02 Jun 2024CA$149.9bCA$80.0bCA$7.2b14.2x20.8x1.9x
Tue, 30 Apr 2024CA$136.9bCA$80.9bCA$6.3b14x21.8x1.7x
Thu, 28 Mar 2024CA$140.6bCA$80.8bCA$6.3b13.9x22.4x1.7x
Sat, 24 Feb 2024CA$140.9bCA$82.2bCA$5.6b14.7x25x1.7x
Mon, 22 Jan 2024CA$147.8bCA$85.4bCA$8.7b14.7x16.9x1.7x
Wed, 20 Dec 2023CA$149.0bCA$85.3bCA$8.7b14.5x17.1x1.7x
Fri, 17 Nov 2023CA$146.0bCA$85.7bCA$8.8b14.7x16.7x1.7x
Sun, 15 Oct 2023CA$136.8bCA$85.2bCA$6.8b13.9x20.2x1.6x
Tue, 12 Sep 2023CA$146.2bCA$85.1bCA$6.8b14.6x21.6x1.7x
Thu, 10 Aug 2023CA$149.8bCA$84.9bCA$7.2b14.1x20.8x1.8x
Price to Earnings Ratio

20.8x


Total Market Cap: CA$149.8bTotal Earnings: CA$7.2bTotal Revenue: CA$84.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Utilities Sector Price to Earnings3Y Average 28.7x202420252026
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 40.8x which is higher than its 3-year average PE of 28.7x.
  • The 3-year average PS ratio of 2.1x is lower than the industry's current PS ratio of 2.6x.
Past Earnings Growth
  • The earnings for companies in the Utilities industry have declined 11% per year over the last three years,
  • Revenues have also declined 2.1% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

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

CA Market-0.41%
Utilities-1.92%
Water Utilities0%0
Other Utilities-0.45%
Renewable Energy-1.20%
Gas Utilities-2.43%
Electric Utilities-2.67%
Industry PE
  • Investors are most optimistic about the Other Utilities industry which is trading above its 3-year average PE ratio of 27.8x.
    • Analysts are expecting annual earnings growth of 32.5%, which is higher than its past year's earnings decline of 58.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Other Utilities industry, expecting annual earnings growth of 32% over the next 5 years.
  • This is better than its past earnings decline of 59% per year.
  • In contrast, the Electric Utilities industry is expected to see its earnings grow by 7.7% per year over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
CUP.U Caribbean Utilities CompanyUS$14.481.1%
+US$6.8m		12.1%PE13.4x
BLX BoralexCA$37.080.2%
+CA$7.2m		21.3%PS4.2x
ACO.X ATCOCA$79.810.08%
+CA$6.8m		56.8%PE49.3x
NKW.H Oceanic Wind EnergyCA$0.1040.0%
+CA$2.6m		50.0%PB13.3x
MXG Maxim PowerCA$4.170.7%
+CA$1.9m		-11.8%PE20x

Latest News

ALA
CA$55.78
AltaGas
7D
-2.4%
1Y
35.1%
TA
CA$17.56
TransAlta
7D
-9.0%
1Y
2.8%
FTS
CA$79.80
Fortis
7D
-3.8%
1Y
16.0%
EMA
CA$74.91
Emera
7D
-3.4%
1Y
16.1%
ACO.X
CA$79.81
ATCO
7D
0.08%
1Y
56.8%
Narrative Update • Jul 31

ACO.X: Higher Street Confidence And Project Pipeline Progress Are Expected To Support Returns

Analysts have raised the ATCO fair value estimate from CA$72.43 to CA$82.00, reflecting updated assumptions on revenue growth, profit margins and future P/E that are consistent with a series of recent price target increases across major Canadian banks. Analyst Commentary Recent research on ATCO points to a broadly constructive tone on valuation, with several bullish analysts revising price targets higher while still highlighting areas where execution and sector trends could affect how the story plays out.
AQN
CA$8.20
Algonquin Power & Utilities
7D
-4.5%
1Y
0.7%
CPX
CA$65.87
Capital Power
7D
-8.2%
1Y
16.6%
CBLU
CA$0.04
Clear Blue Technologies International
7D
14.3%
1Y
-50.0%
NPI
CA$21.82
Northland Power
7D
-1.2%
1Y
-2.4%
H
CA$58.40
Hydro One
7D
-3.0%
1Y
17.6%
BLX
CA$37.08
Boralex
7D
0.2%
1Y
21.3%
NUE
CA$0.16
NU E Power
7D
3.2%
1Y
6.7%
CUP.U
US$14.48
Caribbean Utilities Company
7D
1.1%
1Y
12.1%
MXG
CA$4.17
Maxim Power
7D
0.7%
1Y
-11.8%
WEB
CA$0.87
Westbridge Renewable Energy
7D
2.4%
1Y
-68.5%
NKW.H
CA$0.10
Oceanic Wind Energy
7D
40.0%
1Y
50.0%