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

UpdatedMar 02, 2026
DataAggregated Company Financials
Companies3
  • 7D2.4%
  • 3M20.0%
  • 1Y42.5%
  • YTDn/a

Over the last 7 days, the Multi-Utilities industry has risen 3.5%, driven by gains from National Grid of 3.3%. This takes the industry's 12 month performance to a gain of 40%. 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
Mon, 02 Mar 2026UK£79.2bUK£38.9bUK£2.9b20.3x27.6x2x
Wed, 28 Jan 2026UK£70.3bUK£38.9bUK£2.7b18.8x26.1x1.8x
Fri, 26 Dec 2025UK£65.2bUK£38.9bUK£2.7b18x24.2x1.7x
Sun, 23 Nov 2025UK£65.4bUK£38.8bUK£2.7b19.1x24.2x1.7x
Tue, 21 Oct 2025UK£65.6bUK£39.7bUK£2.7b19.5x24.7x1.7x
Thu, 18 Sep 2025UK£61.0bUK£39.7bUK£2.7b19x22.9x1.5x
Sat, 16 Aug 2025UK£61.2bUK£39.7bUK£2.7b19x23x1.5x
Mon, 14 Jul 2025UK£59.4bUK£40.1bUK£4.2b17.8x14x1.5x
Wed, 11 Jun 2025UK£60.5bUK£40.1bUK£4.2b18.1x14.3x1.5x
Fri, 09 May 2025UK£60.5bUK£41.1bUK£3.1b20.6x19.3x1.5x
Sun, 06 Apr 2025UK£59.2bUK£41.1bUK£3.1b17.9x18.9x1.4x
Tue, 04 Mar 2025UK£55.6bUK£41.1bUK£3.1b17.9x17.7x1.4x
Thu, 30 Jan 2025UK£55.7bUK£41.7bUK£2.9b17.3x19.2x1.3x
Sat, 28 Dec 2024UK£54.2bUK£41.7bUK£2.9b17.9x18.7x1.3x
Mon, 25 Nov 2024UK£56.2bUK£41.8bUK£2.9b19.4x19.4x1.3x
Wed, 23 Oct 2024UK£57.0bUK£42.4bUK£3.4b20.3x16.8x1.3x
Fri, 20 Sep 2024UK£57.5bUK£42.4bUK£3.4b20.5x17x1.4x
Sun, 18 Aug 2024UK£56.1bUK£42.4bUK£3.4b20.6x16.5x1.3x
Tue, 16 Jul 2024UK£53.2bUK£48.3bUK£6.2b20.1x8.6x1.1x
Thu, 13 Jun 2024UK£40.5bUK£49.1bUK£6.2b14.7x6.5x0.8x
Sat, 11 May 2024UK£50.3bUK£50.0bUK£6.6b16.2x7.7x1x
Mon, 08 Apr 2024UK£46.3bUK£50.0bUK£6.6b15x7.1x0.9x
Wed, 06 Mar 2024UK£47.4bUK£50.0bUK£6.6b15.4x7.2x0.9x
Fri, 02 Feb 2024UK£47.5bUK£53.4bUK£6.9b15.3x6.9x0.9x
Sun, 31 Dec 2023UK£47.8bUK£53.4bUK£6.9b15.3x7x0.9x
Tue, 28 Nov 2023UK£46.7bUK£53.4bUK£6.9b14.6x6.8x0.9x
Thu, 26 Oct 2023UK£45.7bUK£54.1bUK£7.0b13.3x6.5x0.8x
Sat, 23 Sep 2023UK£48.1bUK£54.1bUK£7.0b13.9x6.9x0.9x
Mon, 21 Aug 2023UK£44.2bUK£54.1bUK£7.0b12.9x6.3x0.8x
Wed, 19 Jul 2023UK£45.5bUK£47.9bUK£2.0b16.6x22.7x0.9x
Fri, 16 Jun 2023UK£45.7bUK£46.6bUK£2.0b20.3x23.1x1x
Sun, 14 May 2023UK£50.6bUK£45.9bUK£2.2b23x23x1.1x
Tue, 11 Apr 2023UK£49.7bUK£45.9bUK£2.2b23.8x22.6x1.1x
Thu, 09 Mar 2023UK£45.9bUK£45.9bUK£2.2b23.6x20.9x1x
Price to Earnings Ratio

20.9x


Total Market Cap: UK£45.9bTotal 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 Market1.95%
Utilities2.87%
Other Utilities2.41%
Multi-Utilities2.41%
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£13.912.3%
+UK£1.6b		45.3%PE24.1x
CNA CentricaUK£1.993.4%
+UK£295.6m		34.9%PS0.5x
TEP Telecom PlusUK£13.700.3%
+UK£3.2m		-19.3%PE16.5x

Latest News

TEP
UK£13.70
Telecom Plus
7D
0.3%
1Y
-19.3%

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£1.99
Centrica
7D
3.4%
1Y
34.9%

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.
NG.
UK£13.91
National Grid
7D
2.3%
1Y
45.3%

NG.: Earnings Quality And Regulation Will Shape Predictable Future Returns

Analysts have adjusted their price target on National Grid to £12.47, reflecting updated views on revenue growth, profit margins and future P/E assumptions, while keeping key valuation inputs broadly unchanged. Analyst Commentary Bullish Takeaways Bullish analysts view the reaffirmed assumptions on revenue and profit margins as supportive of the revised £12.47 target and suggest the current P/E framework is still seen as appropriate for National Grid's earnings profile.