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

UpdatedMar 12, 2026
DataAggregated Company Financials
Companies3
  • 7D-0.2%
  • 3M19.4%
  • 1Y38.4%
  • YTDn/a

The Multi-Utilities is pretty flat in the last 7 days, but Centrica has stood out, gaining 3.9%. The past year has been better, since the industry has gained 39% in that time. As for the next few years, earnings are expected to grow by 14% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 12 Mar 2026UK£76.5bUK£38.9bUK£2.9b19.6x26.7x2x
Sat, 07 Feb 2026UK£73.6bUK£38.9bUK£2.7b19.2x27.3x1.9x
Mon, 05 Jan 2026UK£66.4bUK£38.9bUK£2.7b18.1x24.6x1.7x
Wed, 03 Dec 2025UK£66.0bUK£38.9bUK£2.7b18.6x24.5x1.7x
Fri, 31 Oct 2025UK£67.0bUK£39.7bUK£2.7b19.5x25.2x1.7x
Sun, 28 Sep 2025UK£61.7bUK£39.7bUK£2.7b19x23.2x1.6x
Tue, 26 Aug 2025UK£61.3bUK£39.7bUK£2.7b19.1x23.1x1.5x
Thu, 24 Jul 2025UK£61.9bUK£40.1bUK£4.2b18.7x14.6x1.5x
Sat, 21 Jun 2025UK£61.0bUK£40.1bUK£4.2b18.2x14.4x1.5x
Mon, 19 May 2025UK£61.0bUK£40.1bUK£4.2b18.4x14.4x1.5x
Wed, 16 Apr 2025UK£60.3bUK£41.1bUK£3.1b18.2x19.2x1.5x
Fri, 14 Mar 2025UK£55.3bUK£41.1bUK£3.1b18.1x17.7x1.3x
Sun, 09 Feb 2025UK£56.3bUK£41.7bUK£2.9b18.1x19.4x1.4x
Tue, 07 Jan 2025UK£54.3bUK£41.7bUK£2.9b18.3x18.7x1.3x
Thu, 05 Dec 2024UK£55.6bUK£41.7bUK£2.9b19.4x19.2x1.3x
Sat, 02 Nov 2024UK£55.6bUK£42.4bUK£3.4b18.8x16.4x1.3x
Mon, 30 Sep 2024UK£58.1bUK£42.4bUK£3.4b20.7x17.1x1.4x
Wed, 28 Aug 2024UK£56.6bUK£42.4bUK£3.4b20.6x16.7x1.3x
Fri, 26 Jul 2024UK£55.2bUK£48.3bUK£6.2b20x8.9x1.1x
Sun, 23 Jun 2024UK£51.7bUK£48.3bUK£6.2b19.4x8.3x1.1x
Tue, 21 May 2024UK£51.2bUK£50.0bUK£6.6b16.4x7.8x1x
Thu, 18 Apr 2024UK£45.9bUK£50.0bUK£6.6b14.7x7x0.9x
Sat, 16 Mar 2024UK£47.2bUK£50.0bUK£6.6b15.2x7.2x0.9x
Mon, 12 Feb 2024UK£45.3bUK£53.4bUK£6.9b14.5x6.6x0.8x
Wed, 10 Jan 2024UK£49.2bUK£53.4bUK£6.9b15.5x7.2x0.9x
Fri, 08 Dec 2023UK£48.6bUK£53.4bUK£6.9b15.4x7.1x0.9x
Sun, 05 Nov 2023UK£46.3bUK£54.1bUK£7.0b13.5x6.6x0.9x
Tue, 03 Oct 2023UK£45.7bUK£54.1bUK£7.0b12.9x6.5x0.8x
Thu, 31 Aug 2023UK£46.1bUK£54.1bUK£7.0b13.5x6.6x0.9x
Sat, 29 Jul 2023UK£46.7bUK£54.1bUK£7.0b14x6.7x0.9x
Mon, 26 Jun 2023UK£46.0bUK£46.6bUK£2.0b20.3x23.3x1x
Wed, 24 May 2023UK£48.7bUK£46.6bUK£2.0b22.3x24.6x1x
Fri, 21 Apr 2023UK£49.4bUK£45.9bUK£2.2b24x22.5x1.1x
Sun, 19 Mar 2023UK£45.4bUK£45.9bUK£2.2b23.2x20.7x1x
Price to Earnings Ratio

20.7x


Total Market Cap: UK£45.4bTotal Earnings: UK£2.2bTotal Revenue: UK£45.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Multi-Utilities Industry Price to Earnings3Y Average 16.1x202420252026
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 9.3% per year over the last three years.
  • Meanwhile revenues for these companies have declined 5.4% per year.
  • This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.

Industry Comparison

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

GB Market-2.07%
Utilities-0.93%
Other Utilities-0.22%
Multi-Utilities-0.22%
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
CNA CentricaUK£2.013.9%
+UK£340.8m		39.5%PS0.5x
TEP Telecom PlusUK£13.300.9%
+UK£9.6m		-22.3%PE16x

Latest News

NG.
UK£13.35
National Grid
7D
-0.8%
1Y
40.0%

NG.: Margin Resilience And P/E Expectations Will Shape Predictable Future Returns

Analysts have nudged their National Grid fair value estimate higher from £12.47 to £13.14, pointing to slightly firmer profit margin expectations and a modestly higher future P/E multiple, even as revenue growth assumptions are trimmed. Analyst Commentary Bullish Takeaways Bullish analysts view the uplift in fair value to £13.14 as consistent with a business that can sustain firmer profit margins over time, which they see as supportive of the overall earnings quality story.
TEP
UK£13.30
Telecom Plus
7D
0.9%
1Y
-22.3%

TEP: Stable Assumptions Will Support Stronger Future Shareholder Returns

Analysts have kept their fair value estimate for Telecom Plus steady at £23.48, citing unchanged assumptions on discount rate, revenue growth and profit margin, which together leave their long term P/E expectations broadly intact. Valuation Changes Fair Value: Held steady at £23.48, with no change in the underlying model input.
CNA
UK£2.01
Centrica
7D
3.9%
1Y
39.5%

CNA: Neutral Stance Will Rely On Execution Against Tight P/E Expectations

Centrica's analyst fair value estimate has edged up to reflect higher price targets in the £2.24 to £2.32 range, with analysts citing adjusted expectations for revenue growth, improved profit margin assumptions, and a lower expected future P/E of 11.4x. Analyst Commentary Recent research has clustered Centrica's price targets in the £2.24 to £2.32 range, with several banks adjusting their numbers in quick succession.