Narrative Update • Jun 24

In the last week, the Multi-Utilities industry is up 2.4%, with National Grid up 2.8%. In the same time, Telecom Plus was down 19%. This means that the industry has gained 14% over the past year. As for the next few years, earnings are expected to grow by 16% per annum.
Has the U.K. Multi-Utilities Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Mon, 29 Jun 2026 | UK£70.5b | UK£39.1b | UK£3.2b | 13.4x | 21.7x | 1.8x |
| Wed, 27 May 2026 | UK£74.3b | UK£39.1b | UK£3.2b | 16.3x | 23x | 1.9x |
| Fri, 24 Apr 2026 | UK£74.5b | UK£38.9b | UK£2.9b | 19.7x | 26x | 1.9x |
| Sun, 22 Mar 2026 | UK£71.5b | UK£38.9b | UK£2.9b | 18.5x | 24.9x | 1.8x |
| Tue, 17 Feb 2026 | UK£78.1b | UK£38.9b | UK£2.7b | 20.1x | 29x | 2x |
| Thu, 15 Jan 2026 | UK£67.0b | UK£38.9b | UK£2.7b | 18.4x | 24.9x | 1.7x |
| Sat, 13 Dec 2025 | UK£64.2b | UK£38.9b | UK£2.7b | 18.2x | 23.8x | 1.7x |
| Mon, 10 Nov 2025 | UK£67.5b | UK£38.8b | UK£2.7b | 19.1x | 25x | 1.7x |
| Wed, 08 Oct 2025 | UK£63.6b | UK£39.7b | UK£2.7b | 19.3x | 23.9x | 1.6x |
| Fri, 05 Sep 2025 | UK£59.4b | UK£39.7b | UK£2.7b | 18.5x | 22.3x | 1.5x |
| Sun, 03 Aug 2025 | UK£62.9b | UK£39.7b | UK£2.7b | 19.1x | 23.7x | 1.6x |
| Tue, 01 Jul 2025 | UK£61.3b | UK£40.1b | UK£4.2b | 18.4x | 14.5x | 1.5x |
| Thu, 29 May 2025 | UK£61.7b | UK£40.1b | UK£4.2b | 18.6x | 14.6x | 1.5x |
| Sat, 26 Apr 2025 | UK£61.8b | UK£41.1b | UK£3.1b | 19.3x | 19.7x | 1.5x |
| Mon, 24 Mar 2025 | UK£56.6b | UK£41.1b | UK£3.1b | 18.4x | 18.1x | 1.4x |
| Wed, 19 Feb 2025 | UK£54.3b | UK£41.7b | UK£2.9b | 17.9x | 18.7x | 1.3x |
| Fri, 17 Jan 2025 | UK£54.6b | UK£41.7b | UK£2.9b | 18x | 18.8x | 1.3x |
| Sun, 15 Dec 2024 | UK£54.2b | UK£41.7b | UK£2.9b | 18.4x | 18.7x | 1.3x |
| Tue, 12 Nov 2024 | UK£55.6b | UK£41.8b | UK£2.9b | 19.6x | 19.2x | 1.3x |
| Thu, 10 Oct 2024 | UK£56.0b | UK£42.4b | UK£3.4b | 20.3x | 16.5x | 1.3x |
| Sat, 07 Sep 2024 | UK£57.5b | UK£42.4b | UK£3.4b | 20.1x | 17x | 1.4x |
| Mon, 05 Aug 2024 | UK£56.7b | UK£42.4b | UK£3.4b | 20.2x | 16.7x | 1.3x |
| Wed, 03 Jul 2024 | UK£51.1b | UK£48.3b | UK£6.2b | 19.4x | 8.2x | 1.1x |
| Fri, 31 May 2024 | UK£40.2b | UK£49.1b | UK£6.2b | 14.2x | 6.5x | 0.8x |
| Sun, 28 Apr 2024 | UK£47.4b | UK£50.0b | UK£6.6b | 15.2x | 7.2x | 0.9x |
| Tue, 26 Mar 2024 | UK£47.7b | UK£50.0b | UK£6.6b | 15.6x | 7.3x | 1x |
| Thu, 22 Feb 2024 | UK£46.7b | UK£50.0b | UK£6.6b | 15.1x | 7.1x | 0.9x |
| Sat, 20 Jan 2024 | UK£46.9b | UK£53.4b | UK£6.9b | 14.9x | 6.8x | 0.9x |
| Mon, 18 Dec 2023 | UK£48.1b | UK£53.4b | UK£6.9b | 15.4x | 7x | 0.9x |
| Wed, 15 Nov 2023 | UK£45.8b | UK£53.1b | UK£6.9b | 14.3x | 6.7x | 0.9x |
| Fri, 13 Oct 2023 | UK£45.3b | UK£54.1b | UK£7.0b | 13.1x | 6.5x | 0.8x |
| Sun, 10 Sep 2023 | UK£46.9b | UK£54.1b | UK£7.0b | 13.5x | 6.7x | 0.9x |
| Tue, 08 Aug 2023 | UK£44.5b | UK£54.1b | UK£7.0b | 13.1x | 6.3x | 0.8x |
| Thu, 06 Jul 2023 | UK£46.0b | UK£47.9b | UK£2.0b | 16.8x | 23x | 1x |
23x
How does U.K. Multi-Utilities compare with similar industries?
| GB Market | 1.14% | |
| Utilities | 2.82% | |
| Other Utilities | 2.37% | |
| Multi-Utilities | 2.37% | |
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| NG. National Grid | UK£12.46 | 2.8% +UK£1.7b | 17.1% | PE19.1x | |
| CNA Centrica | UK£1.75 | 1.4% +UK£110.6m | 7.1% | PS0.4x |