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Canadian (TSX) Utilities Sector Analysis

UpdatedApr 23, 2025
DataAggregated Company Financials
Companies28
  • 7D2.1%
  • 3M8.4%
  • 1Y21.4%
  • YTD5.8%

Hydro One is up 2.6%, leading the way for the Utilities industry, which has gained 2.1%. In the last 12 months, the industry was up 21%. Earnings are forecast to grow by 8.3% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 23 Apr 2025CA$157.3bCA$74.3bCA$5.5b20.5x28.6x2.1x
Fri, 21 Mar 2025CA$157.8bCA$74.9bCA$5.5b20.1x28.8x2.1x
Sun, 16 Feb 2025CA$149.3bCA$75.3bCA$5.2b20.4x28.9x2x
Tue, 14 Jan 2025CA$142.2bCA$75.3bCA$5.3b20.5x26.7x1.9x
Thu, 12 Dec 2024CA$162.8bCA$81.8bCA$3.5b20x46.3x2x
Sat, 09 Nov 2024CA$160.1bCA$80.6bCA$6.9b18.3x23.1x2x
Mon, 07 Oct 2024CA$162.3bCA$80.8bCA$6.9b19.1x23.5x2x
Wed, 04 Sep 2024CA$155.3bCA$80.8bCA$6.9b19.1x22.5x1.9x
Fri, 02 Aug 2024CA$153.2bCA$80.4bCA$7.3b15.4x21.1x1.9x
Sun, 30 Jun 2024CA$145.1bCA$80.0bCA$7.2b13.8x20.1x1.8x
Tue, 28 May 2024CA$151.6bCA$80.0bCA$7.2b14.2x21x1.9x
Thu, 25 Apr 2024CA$137.2bCA$80.9bCA$6.3b13.9x21.8x1.7x
Sat, 23 Mar 2024CA$141.2bCA$80.8bCA$6.3b13.8x22.5x1.7x
Mon, 19 Feb 2024CA$140.8bCA$82.2bCA$6.2b14.4x22.6x1.7x
Wed, 17 Jan 2024CA$150.9bCA$85.5bCA$8.7b14.7x17.3x1.8x
Fri, 15 Dec 2023CA$148.9bCA$85.3bCA$8.7b14.7x17x1.7x
Sun, 12 Nov 2023CA$140.8bCA$86.0bCA$8.8b14.1x15.9x1.6x
Tue, 10 Oct 2023CA$136.3bCA$85.2bCA$6.8b14.1x20.1x1.6x
Thu, 07 Sep 2023CA$143.5bCA$85.2bCA$6.8b14.4x21.2x1.7x
Sat, 05 Aug 2023CA$148.6bCA$85.0bCA$7.2b14.1x20.8x1.7x
Mon, 03 Jul 2023CA$156.3bCA$85.2bCA$7.9b14.5x19.7x1.8x
Wed, 31 May 2023CA$161.2bCA$85.6bCA$8.0b14.8x20.2x1.9x
Fri, 28 Apr 2023CA$165.8bCA$83.0bCA$7.2b16.5x22.9x2x
Sun, 26 Mar 2023CA$156.9bCA$83.0bCA$7.2b16x21.9x1.9x
Tue, 21 Feb 2023CA$154.4bCA$80.5bCA$7.1b17.8x21.9x1.9x
Thu, 19 Jan 2023CA$158.4bCA$79.4bCA$6.0b18.1x26.5x2x
Sat, 17 Dec 2022CA$154.8bCA$79.6bCA$6.0b17.5x25.8x1.9x
Mon, 14 Nov 2022CA$157.0bCA$78.9bCA$6.6b18.7x23.8x2x
Wed, 12 Oct 2022CA$154.2bCA$76.0bCA$5.9b20.7x26.2x2x
Fri, 09 Sep 2022CA$182.1bCA$75.2bCA$5.8b22.3x31.3x2.4x
Sun, 07 Aug 2022CA$182.3bCA$71.0bCA$5.0b27.4x36.5x2.6x
Tue, 05 Jul 2022CA$173.4bCA$68.3bCA$4.2b26.8x41.6x2.5x
Thu, 02 Jun 2022CA$175.5bCA$68.1bCA$4.2b27.6x42.2x2.6x
Sat, 30 Apr 2022CA$175.2bCA$66.3bCA$4.5b25.2x39x2.6x
Price to Earnings Ratio

39x


Total Market Cap: CA$175.2bTotal Earnings: CA$4.5bTotal Revenue: CA$66.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Canadian Utilities Sector Price to Earnings3Y Average 26x202320242025
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 28.6x which is higher than its 3-year average PE of 26.0x.
  • The industry is trading close to its 3-year average PS ratio of 2.0x.
Past Earnings Growth
  • The earnings for companies in the Utilities industry have grown 6.9% per year over the last three years.
  • Revenues for these companies have grown 3.9% 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 sector?

CA Market1.07%
Utilities2.05%
Electric Utilities2.42%
Other Utilities2.22%
Renewable Energy1.72%
Gas Utilities0.63%
Water Utilities-16.27%
Industry PE
  • Investors are most optimistic about the Renewable Energy industry which is trading above its 3-year average PE ratio of 2.8x.
    • Analysts are expecting annual earnings growth of 2.6%, which is higher than its past year's earnings decline of 53.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Other Utilities industry, expecting annual earnings growth of 30% over the next 5 years.
  • This is better than its past earnings decline of 0.5% per year.
  • In contrast, the Renewable Energy industry is expected to see its earnings grow by 2.6% 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
H Hydro OneCA$51.032.6%
+CA$761.3m		34.8%PE26.5x
FTS FortisCA$67.642.3%
+CA$752.4m		26.7%PE21.1x
EMA EmeraCA$61.152.6%
+CA$458.5m		30.8%PE36.9x
CU Canadian UtilitiesCA$37.952.3%
+CA$236.3m		25.2%PE25.6x
AQN Algonquin Power & UtilitiesCA$7.463.3%
+CA$184.2m		-11.3%PE35.9x
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CU

CA$37.95

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2.3%

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BLX

CA$30.04

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H

CA$51.03

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AQN

CA$7.46

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3.3%

1Y

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SPB

CA$6.75

Superior Plus

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4.0%

1Y

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MXG

CA$3.81

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PRME

CA$0.12

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7D

-20.0%

1Y

n/a

WEB

CA$0.58

Westbridge Renewable Energy

7D

-6.5%

1Y

-33.3%

NUE

CA$0.20

NU E Power

7D

-18.8%

1Y

n/a

CH

CA$0.045

Charbone Hydrogen

7D

-10.0%

1Y

-47.1%

NKW.H

CA$0.045

Oceanic Wind Energy

7D

-25.0%

1Y

-30.8%

SOLR

CA$0.015

Solar Alliance Energy

7D

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