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

U.K. (FTSE) Utilities Sector Analysis

UpdatedApr 22, 2026
DataAggregated Company Financials
Companies12
  • 7D-4.0%
  • 3M7.2%
  • 1Y24.4%
  • YTD10.6%

Over the last 7 days, the Utilities industry has dropped 4.0%, driven by National Grid declining 4.2%. In the past year, the industry has gained 24%. As for the next few years, earnings are expected to grow by 15% per annum.

Sector Valuation and Performance

Has the U.K. Utilities Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 22 Apr 2026UK£128.1bUK£61.6bUK£4.7b22.4x27.4x2.1x
Fri, 20 Mar 2026UK£129.6bUK£61.6bUK£4.7b22x27.7x2.1x
Sun, 15 Feb 2026UK£134.7bUK£61.8bUK£4.8b23.1x27.8x2.2x
Tue, 13 Jan 2026UK£117.9bUK£61.8bUK£4.8b20.4x24.3x1.9x
Thu, 11 Dec 2025UK£111.1bUK£62.0bUK£4.8b18x22.9x1.8x
Sat, 08 Nov 2025UK£110.2bUK£61.2bUK£4.8b17.3x23.1x1.8x
Mon, 06 Oct 2025UK£102.9bUK£62.1bUK£4.7b16.5x21.7x1.7x
Wed, 03 Sep 2025UK£96.3bUK£62.1bUK£4.7b14.9x20.3x1.6x
Fri, 01 Aug 2025UK£103.1bUK£62.6bUK£4.9b17.1x21.2x1.6x
Sun, 29 Jun 2025UK£102.8bUK£63.0bUK£6.4b14.5x16x1.6x
Tue, 27 May 2025UK£103.3bUK£63.0bUK£6.4b14.2x16x1.6x
Thu, 24 Apr 2025UK£99.2bUK£63.8bUK£5.9b10.2x16.8x1.6x
Sat, 22 Mar 2025UK£91.7bUK£64.0bUK£5.9b10.2x15.5x1.4x
Mon, 17 Feb 2025UK£89.9bUK£65.7bUK£5.8b10x15.5x1.4x
Wed, 15 Jan 2025UK£87.1bUK£65.7bUK£5.8b10.2x15x1.3x
Fri, 13 Dec 2024UK£92.2bUK£65.7bUK£5.8b10.8x15.9x1.4x
Sun, 10 Nov 2024UK£93.2bUK£66.0bUK£5.6b11.6x16.8x1.4x
Tue, 08 Oct 2024UK£94.9bUK£66.5bUK£6.1b11.7x15.7x1.4x
Thu, 05 Sep 2024UK£97.1bUK£66.4bUK£6.1b12.2x16x1.5x
Sat, 03 Aug 2024UK£97.4bUK£66.4bUK£6.1b12.3x16.1x1.5x
Mon, 01 Jul 2024UK£88.2bUK£73.1bUK£8.8b13.1x10x1.2x
Wed, 29 May 2024UK£78.5bUK£73.8bUK£8.6b11.9x9.1x1.1x
Fri, 26 Apr 2024UK£83.9bUK£75.7bUK£7.8b13.9x10.8x1.1x
Sun, 24 Mar 2024UK£84.4bUK£75.7bUK£7.8b9.8x10.8x1.1x
Tue, 20 Feb 2024UK£82.1bUK£75.8bUK£7.4b13.6x11.1x1.1x
Thu, 18 Jan 2024UK£87.1bUK£81.4bUK£7.8b12x11.1x1.1x
Sat, 16 Dec 2023UK£89.7bUK£81.4bUK£7.8b11.8x11.5x1.1x
Mon, 13 Nov 2023UK£84.9bUK£81.7bUK£7.4b12.9x11.5x1x
Wed, 11 Oct 2023UK£81.7bUK£82.7bUK£7.5b12.9x10.9x1x
Fri, 08 Sep 2023UK£82.6bUK£82.5bUK£7.5b13.1x11x1x
Sun, 06 Aug 2023UK£81.9bUK£82.5bUK£7.5b13.1x10.9x1x
Tue, 04 Jul 2023UK£86.1bUK£75.8bUK£2.4b19.9x36.4x1.1x
Thu, 01 Jun 2023UK£89.0bUK£74.5bUK£2.4b20.2x37.4x1.2x
Sat, 29 Apr 2023UK£91.5bUK£71.9bUK£4.1b18.4x22.1x1.3x
Price to Earnings Ratio

22.1x


Total Market Cap: UK£91.5bTotal Earnings: UK£4.1bTotal Revenue: UK£71.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Utilities Sector Price to Earnings3Y Average 17.7x202420252026
Current Industry PE
  • Investors are optimistic on the British Utilities industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 27.4x which is higher than its 3-year average PE of 17.7x.
  • The 3-year average PS ratio of 1.4x is lower than the industry's current PS ratio of 2.1x.
Past Earnings Growth
  • The earnings for companies in the Utilities industry have grown 4.2% per year over the last three years.
  • Meanwhile revenues for these companies have declined 5.0% 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 U.K. Utilities sector?

GB Market-0.72%
Utilities-3.97%
Gas Utilities0%0
Renewable Energy-1.92%
Water Utilities-3.14%
Other Utilities-3.84%
Electric Utilities-5.01%
Industry PE
  • Investors are most optimistic about the Electric Utilities industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 18.4%, which is higher than its past year's earnings decline of 26.4% per year.
  • Investors are most pessimistic about the Other Utilities industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 16.3x.
Forecasted Growth
  • Analysts are most optimistic on the Electric Utilities industry, expecting annual earnings growth of 18% over the next 5 years.
  • This is better than its past earnings decline of 26% per year.
  • In contrast, the Water Utilities industry is expected to see its earnings grow by 13% 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
TEP Telecom PlusUK£14.104.9%
+UK£52.7m		-22.3%PE17x
QDE Quantum Data EnergyUK£0.04119.1%
+UK£4.9m		-48.6%PS7.1x
JEL Jersey ElectricityUK£4.451.1%
+UK£1.5m		4.7%PE12.4x
DRX Drax GroupUK£8.700.05%
+UK£1.3m		48.9%PE40x
BCE Beacon EnergyUK£0.0333.2%
+UK£124.8k		8.3%PE-3.5x

Latest News

SVT
UK£31.16
Severn Trent
7D
-1.6%
1Y
16.2%

SVT: Clustered 3,300 GBp Views Will Shape A Balanced Forward Stance

Severn Trent’s updated fair value estimate has edged up from £31.26 to £31.88, as analysts factor in recent price target increases around £3,300 and mixed rating changes that focus on valuation and refined P/E expectations. Analyst Commentary Recent research on Severn Trent has centred on where the current share price sits versus revised price targets and how much valuation headroom is left after the latest moves.
BCE
UK£0.033
Beacon Energy
7D
3.2%
1Y
8.3%
DRX
UK£8.70
Drax Group
7D
0.05%
1Y
48.9%
CNA
UK£2.10
Centrica
7D
-0.4%
1Y
36.7%

CNA: Low Carbon Projects And On Site Power Partnerships Will Support Fair Outlook

Centrica's analyst price target has edged higher to £2.19 from £2.16, as analysts point to recent price target increases across the Street and see support from disruption in energy markets and the company's positioning in low carbon generation. Analyst Commentary Recent Street research around Centrica shows a mix of optimism on the long term setup and caution on near term execution and valuation, which is reflected in both upgrades and downgrades alongside a cluster of higher price targets.
TEP
UK£14.10
Telecom Plus
7D
4.9%
1Y
-22.3%

TEP: Stable Assumptions And Steady Outlook Will Support Stronger Future Returns

Telecom Plus sees its analyst price target held at £23.48, with analysts keeping their fair value, discount rate, revenue growth, profit margin and future P/E assumptions effectively unchanged. This signals that their latest review leaves the core investment case intact.
UU.
UK£13.28
United Utilities Group
7D
-1.7%
1Y
20.9%

UU.: Mixed Rating Shifts And Modest Assumption Tweaks Will Guide Post Repricing Trade-Off

Analysts have nudged their fair value estimate for United Utilities higher from about £13.68 to roughly £13.93 per share. This reflects updated price targets around £14.50 and refreshed assumptions on discount rates, revenue growth, profit margins and future P/E multiples.
PNN
UK£5.27
Pennon Group
7D
-2.2%
1Y
8.7%

PNN: Refreshed £6.50 Outlook Will Temper Mixed Rating Movements

Analysts have nudged Pennon Group's implied price target higher to around £6.50, supported by refreshed models that reflect updated assumptions on revenue growth, profit margins and future P/E expectations. Analyst Commentary Recent research on Pennon Group shows a mix of optimism around valuation support and caution around execution risk, with several target price adjustments and rating changes in quick succession.
SSE
UK£26.24
SSE
7D
-3.1%
1Y
64.2%

Future Prosperity Awaits with SSE's Impressive 11% Revenue Growth

SSE plc — Investment Memo Investment Thesis SSE is a core UK infrastructure compounder positioned to benefit from the energy transition. It combines: Regulated electricity networks → stable, inflation-linked returns Renewables pipeline → long-term growth Dividend yield → immediate income Hybrid profile: defensive base + structural growth Business Model 1.
NG.
UK£12.75
National Grid
7D
-1.5%
1Y
19.4%

NG.: Grid Optimization And Execution Discipline Will Shape Earnings Resilience And Future P/E

Analysts have raised their price target on National Grid to £13.63 from £13.53, citing slightly higher assumptions for revenue growth, profit margin and future P/E as the main drivers of the change. Analyst Commentary Analysts are updating their views on National Grid in light of the revised price target, with attention on how the company can support its valuation through consistent execution and disciplined capital allocation.
YU.
UK£17.20
Yü Group
7D
-2.8%
1Y
9.2%
QDE
UK£0.04
Quantum Data Energy
7D
119.1%
1Y
-48.6%
JEL
UK£4.45
Jersey Electricity
7D
1.1%
1Y
4.7%