Narrative Update • Jun 07
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Spanish (IBEX) Utilities Sector Analysis
UpdatedJun 10, 2026
DataAggregated Company Financials
Companies14
- 7D1.4%
- 3M6.8%
- 1Y24.4%
- YTD10.7%
The Utilities industry is up 1.5% in the last week, with Iberdrola up 2.1%. In the last 12 months, the industry was up 24%. As for the next few years, earnings are expected to grow by 5.0% per annum.
Sector Valuation and Performance
Has the Spanish Utilities Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Wed, 10 Jun 2026 | €240.1b | €116.3b | €12.5b | 16.5x | 19.3x | 2.1x |
| Fri, 08 May 2026 | €238.2b | €116.4b | €12.3b | 17.7x | 19.3x | 2x |
| Sun, 05 Apr 2026 | €239.8b | €117.4b | €12.5b | 17.2x | 19.1x | 2x |
| Tue, 03 Mar 2026 | €234.8b | €118.0b | €12.5b | 16.8x | 18.7x | 2x |
| Thu, 29 Jan 2026 | €216.5b | €119.8b | €11.5b | 15.5x | 18.8x | 1.8x |
| Sat, 27 Dec 2025 | €211.8b | €119.8b | €11.5b | 15.9x | 18.4x | 1.8x |
| Mon, 24 Nov 2025 | €207.3b | €119.6b | €11.5b | 16x | 18x | 1.7x |
| Wed, 22 Oct 2025 | €203.8b | €119.5b | €11.5b | 16.2x | 17.8x | 1.7x |
| Fri, 19 Sep 2025 | €186.6b | €119.4b | €11.5b | 15.2x | 16.3x | 1.6x |
| Sun, 17 Aug 2025 | €197.5b | €119.4b | €11.5b | 15.3x | 17.2x | 1.7x |
| Tue, 15 Jul 2025 | €182.6b | €116.8b | €10.0b | 18.6x | 18.2x | 1.6x |
| Thu, 12 Jun 2025 | €187.4b | €116.8b | €10.0b | 18x | 18.7x | 1.6x |
| Sat, 10 May 2025 | €178.0b | €116.6b | €10.0b | 15.4x | 17.9x | 1.5x |
| Mon, 07 Apr 2025 | €173.6b | €116.9b | €10.5b | 14.6x | 16.6x | 1.5x |
| Wed, 05 Mar 2025 | €160.9b | €116.0b | €10.4b | 14.9x | 15.4x | 1.4x |
| Fri, 31 Jan 2025 | €155.9b | €116.2b | €11.0b | 13.1x | 14.2x | 1.3x |
| Sun, 29 Dec 2024 | €152.8b | €116.2b | €11.0b | 13.9x | 13.9x | 1.3x |
| Tue, 26 Nov 2024 | €156.7b | €116.3b | €11.1b | 15.5x | 14.2x | 1.3x |
| Thu, 24 Oct 2024 | €159.0b | €117.5b | €10.4b | 15.2x | 15.3x | 1.4x |
| Sat, 21 Sep 2024 | €155.9b | €117.6b | €9.9b | 19x | 15.7x | 1.3x |
| Mon, 19 Aug 2024 | €147.7b | €117.6b | €9.9b | 19.7x | 14.9x | 1.3x |
| Wed, 17 Jul 2024 | €141.6b | €120.7b | €10.5b | 13x | 13.5x | 1.2x |
| Fri, 14 Jun 2024 | €146.1b | €120.7b | €10.5b | 13.5x | 13.9x | 1.2x |
| Sun, 12 May 2024 | €149.4b | €120.5b | €10.5b | 13.6x | 14.2x | 1.2x |
| Tue, 09 Apr 2024 | €136.1b | €125.9b | €9.6b | 13.6x | 14.2x | 1.1x |
| Thu, 07 Mar 2024 | €134.6b | €125.9b | €9.6b | 13.9x | 14x | 1.1x |
| Sat, 03 Feb 2024 | €142.2b | €135.1b | €11.5b | 13.6x | 12.4x | 1.1x |
| Mon, 01 Jan 2024 | €153.5b | €135.1b | €11.5b | 14.3x | 13.4x | 1.1x |
| Wed, 29 Nov 2023 | €149.9b | €137.8b | €11.3b | 14x | 13.2x | 1.1x |
| Fri, 27 Oct 2023 | €141.0b | €141.6b | €12.1b | 13.2x | 11.7x | 1x |
| Sun, 24 Sep 2023 | €146.9b | €141.5b | €12.1b | 12.8x | 12.1x | 1x |
| Tue, 22 Aug 2023 | €142.1b | €141.5b | €12.1b | 12.7x | 11.7x | 1x |
| Thu, 20 Jul 2023 | €151.0b | €147.9b | €11.5b | 15.3x | 13.1x | 1x |
| Sat, 17 Jun 2023 | €160.6b | €147.9b | €11.5b | 15.6x | 13.9x | 1.1x |
Price to Earnings Ratio
13.9x
Current Industry PE
- Investors are optimistic on the Spanish Utilities industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 19.1x which is higher than its 3-year average PE of 15.5x.
- The 3-year average PS ratio of 1.4x is lower than the industry's current PS ratio of 2.0x.
Past Earnings Growth
- The earnings for companies in the Utilities industry have grown 2.6% per year over the last three years.
- Meanwhile revenues for these companies have declined 7.7% 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 Spanish Utilities sector?
| ES Market | -0.019% | |
| Utilities | 1.41% | |
| Electric Utilities | 1.77% | |
| Gas Utilities | 1.68% | |
| Other Utilities | 0% | 0 |
| Renewable Energy | -3.34% | |
Industry PE
- Investors are most optimistic about the Electric Utilities industry which is trading above its 3-year average PE ratio of 16.1x.
- Analysts are expecting annual earnings growth of 6.3%, which is lower than the prior year's growth of 42.8% per year.
- Investors are most pessimistic about the Gas Utilities industry, which is trading close to its 3-year average of 13.3x.
Forecasted Growth
- Analysts are most optimistic on the Electric Utilities industry, expecting annual earnings growth of 6.3% over the next 5 years.
- However this is lower than its past earnings growth rate of 43% per year.
- In contrast, the Gas Utilities industry is expected to see its earnings growth to stay flat over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| IBE Iberdrola | €19.95 | 2.0% +€2.6b | 23.5% | PE24.2x | |
| ELE Endesa | €36.85 | 2.6% +€964.2m | 37.0% | PE16.5x | |
| NTGY Naturgy Energy Group | €29.18 | 1.6% +€426.1m | 11.2% | PE13.2x | |
| RED Redeia Corporación | €14.96 | 1.4% +€113.6m | -16.0% | PE16.5x | |
| ENG Enagás | €17.38 | 2.2% +€96.2m | 22.7% | PE13.7x |
