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U.K. (FTSE) Multi-Utilities Industry Analysis

UpdatedJan 16, 2026
DataAggregated Company Financials
Companies3
  • 7D0.2%
  • 3M3.8%
  • 1Y24.5%
  • YTDn/a

In the last week, the Multi-Utilities industry is up 3.8%, with National Grid up 2.5%. In the last 12 months, the industry was up 29%. As for the next few years, earnings are expected to grow by 13% per annum.

Industry Valuation and Performance

Has the U.K. Multi-Utilities Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 17 Jan 2026UK£68.0bUK£38.9bUK£2.7b18.5x25.2x1.7x
Mon, 15 Dec 2025UK£64.2bUK£38.9bUK£2.7b18.2x23.8x1.7x
Wed, 12 Nov 2025UK£67.0bUK£38.8bUK£2.7b19x24.8x1.7x
Fri, 10 Oct 2025UK£63.9bUK£39.7bUK£2.7b19.3x24x1.6x
Sun, 07 Sep 2025UK£60.0bUK£39.7bUK£2.7b18.8x22.6x1.5x
Tue, 05 Aug 2025UK£63.3bUK£39.7bUK£2.7b19.3x23.8x1.6x
Thu, 03 Jul 2025UK£59.7bUK£40.1bUK£4.2b17.9x14.1x1.5x
Sat, 31 May 2025UK£60.6bUK£40.1bUK£4.2b18.1x14.3x1.5x
Mon, 28 Apr 2025UK£61.7bUK£41.1bUK£3.1b19.3x19.7x1.5x
Wed, 26 Mar 2025UK£55.9bUK£41.1bUK£3.1b18.2x17.9x1.4x
Fri, 21 Feb 2025UK£55.1bUK£41.7bUK£2.9b17.7x19x1.3x
Sun, 19 Jan 2025UK£55.3bUK£41.7bUK£2.9b17.9x19.1x1.3x
Tue, 17 Dec 2024UK£53.5bUK£41.7bUK£2.9b18x18.4x1.3x
Thu, 14 Nov 2024UK£54.3bUK£41.8bUK£2.9b19x18.7x1.3x
Sat, 12 Oct 2024UK£56.4bUK£42.4bUK£3.4b20x16.6x1.3x
Mon, 09 Sep 2024UK£57.5bUK£42.4bUK£3.4b20.1x17x1.4x
Wed, 07 Aug 2024UK£55.0bUK£42.4bUK£3.4b19.3x16.2x1.3x
Fri, 05 Jul 2024UK£53.1bUK£48.3bUK£6.2b20x8.5x1.1x
Sun, 02 Jun 2024UK£41.8bUK£49.1bUK£6.2b14.8x6.7x0.9x
Tue, 30 Apr 2024UK£47.5bUK£50.0bUK£6.6b15.3x7.2x1x
Thu, 28 Mar 2024UK£47.6bUK£50.0bUK£6.6b15.4x7.3x1x
Sat, 24 Feb 2024UK£46.4bUK£50.0bUK£6.6b15x7.1x0.9x
Mon, 22 Jan 2024UK£46.9bUK£53.4bUK£6.9b14.9x6.8x0.9x
Wed, 20 Dec 2023UK£47.7bUK£53.4bUK£6.9b15.2x7x0.9x
Fri, 17 Nov 2023UK£45.8bUK£53.1bUK£6.9b14.6x6.7x0.9x
Sun, 15 Oct 2023UK£45.8bUK£54.1bUK£7.0b13.3x6.5x0.8x
Tue, 12 Sep 2023UK£46.9bUK£54.1bUK£7.0b13.5x6.7x0.9x
Thu, 10 Aug 2023UK£45.0bUK£54.1bUK£7.0b13.3x6.4x0.8x
Sat, 08 Jul 2023UK£44.8bUK£47.9bUK£2.0b16.3x22.4x0.9x
Mon, 05 Jun 2023UK£46.7bUK£46.6bUK£2.0b20.5x23.6x1x
Wed, 03 May 2023UK£49.7bUK£45.9bUK£2.2b22.7x22.6x1.1x
Fri, 31 Mar 2023UK£47.4bUK£45.9bUK£2.2b23.8x21.6x1x
Sun, 26 Feb 2023UK£46.2bUK£45.9bUK£2.2b22.3x21x1x
Tue, 24 Jan 2023UK£45.2bUK£40.3bUK£2.0b24.3x23.1x1.1x
Price to Earnings Ratio

23.1x


Total Market Cap: UK£45.2bTotal Earnings: UK£2.0bTotal Revenue: UK£40.3bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Multi-Utilities Industry Price to Earnings3Y Average 15.9x202420252026
Current Industry PE
    There are only 3 companies in the British Multi-Utilities industry, so there is insufficient data to make an industry-wide assessment of both the PE and PS ratio.
Past Earnings Growth
  • The earnings for companies in the Multi-Utilities industry have grown 11% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Comparison

How does U.K. Multi-Utilities compare with similar industries?

GB Market2.10%
Utilities0.33%
Other Utilities0.17%
Multi-Utilities0.17%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
NG. National GridUK£12.020.8%
+UK£531.7m		24.7%PE20.8x
CNA CentricaUK£1.820.6%
+UK£49.6m		33.9%PS0.4x

Latest News

NG.
UK£12.02
National Grid
7D
0.8%
1Y
24.7%

NG.: Dividend Reliability And Regulatory Outcomes Will Guide Balanced Return Potential

Narrative Update The analyst price target for National Grid has been revised slightly higher to about $12.08 from $11.96, as analysts factor in a modestly higher fair value estimate and a small adjustment to future P/E assumptions, while keeping their core growth and margin expectations effectively unchanged. Analyst Commentary Recent research on National Grid focuses on fine tuning valuation inputs rather than changing the core business view.
TEP
UK£13.66
Telecom Plus
7D
-0.7%
1Y
-19.8%

TEP: Interim Dividend And Stable Assumptions Will Support Future Shareholder Returns

Analysts have adjusted their price target for Telecom Plus to £23.48, reflecting updated assumptions on revenue growth, profit margins and future P/E that are now more finely calibrated yet broadly consistent with prior views. What's in the News Telecom Plus proposed an interim dividend of 38 pence per share for the six months ended 30 September 2025, compared with 37 pence per share in H1 FY25 (Key Developments).
CNA
UK£1.82
Centrica
7D
0.6%
1Y
33.9%

CNA: Energy Transition Execution Will Shape Balanced Future Risk Reward Profile

Analysts have slightly raised their fair value estimate for Centrica from £1.97 to £1.98 per share, reflecting a mix of more cautious and more constructive views after recent rating changes and updated price targets across the sector. Analyst Commentary Recent rating changes on Centrica show a mix of optimism and caution, which helps explain why the fair value move has been incremental rather than dramatic.