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

UpdatedMar 20, 2026
DataAggregated Company Financials
Companies3
  • 7D-6.0%
  • 3M12.5%
  • 1Y28.5%
  • YTDn/a

The Multi-Utilities industry has been flat over the last week, but National Grid has lost 7.0%. As for the the longer term, the industry is up 35% over the past 12 months. Looking forward, earnings are forecast to grow by 14% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 20 Mar 2026UK£73.7bUK£38.9bUK£2.9b18.9x25.7x1.9x
Sun, 15 Feb 2026UK£77.7bUK£38.9bUK£2.7b20.2x28.8x2x
Tue, 13 Jan 2026UK£67.8bUK£38.9bUK£2.7b18.3x25.2x1.7x
Thu, 11 Dec 2025UK£64.2bUK£38.9bUK£2.7b18x23.8x1.7x
Sat, 08 Nov 2025UK£67.5bUK£38.8bUK£2.7b19.1x25x1.7x
Mon, 06 Oct 2025UK£62.8bUK£39.7bUK£2.7b19.1x23.6x1.6x
Wed, 03 Sep 2025UK£58.9bUK£39.7bUK£2.7b18.3x22.2x1.5x
Fri, 01 Aug 2025UK£61.9bUK£39.7bUK£2.7b19x23.3x1.6x
Sun, 29 Jun 2025UK£61.5bUK£40.1bUK£4.2b18.4x14.5x1.5x
Tue, 27 May 2025UK£62.9bUK£40.1bUK£4.2b18.9x14.9x1.6x
Thu, 24 Apr 2025UK£61.3bUK£41.1bUK£3.1b19.1x19.6x1.5x
Sat, 22 Mar 2025UK£56.6bUK£41.1bUK£3.1b18.4x18.1x1.4x
Mon, 17 Feb 2025UK£55.0bUK£41.7bUK£2.9b17.8x18.9x1.3x
Wed, 15 Jan 2025UK£52.5bUK£41.7bUK£2.9b17.2x18.1x1.3x
Fri, 13 Dec 2024UK£54.0bUK£41.7bUK£2.9b18.2x18.6x1.3x
Sun, 10 Nov 2024UK£54.8bUK£41.8bUK£2.9b18.5x18.9x1.3x
Tue, 08 Oct 2024UK£55.9bUK£42.4bUK£3.4b20.2x16.5x1.3x
Thu, 05 Sep 2024UK£56.8bUK£42.4bUK£3.4b20.4x16.8x1.3x
Sat, 03 Aug 2024UK£56.7bUK£42.4bUK£3.4b20.2x16.7x1.3x
Mon, 01 Jul 2024UK£50.8bUK£48.3bUK£6.2b19.1x8.2x1.1x
Wed, 29 May 2024UK£41.5bUK£49.1bUK£6.2b14.7x6.7x0.8x
Fri, 26 Apr 2024UK£47.2bUK£50.0bUK£6.6b15.2x7.2x0.9x
Sun, 24 Mar 2024UK£47.7bUK£50.0bUK£6.6b15.5x7.3x1x
Tue, 20 Feb 2024UK£46.1bUK£50.0bUK£6.6b14.9x7x0.9x
Thu, 18 Jan 2024UK£47.4bUK£53.4bUK£6.9b15.1x6.9x0.9x
Sat, 16 Dec 2023UK£48.1bUK£53.4bUK£6.9b15.4x7x0.9x
Mon, 13 Nov 2023UK£45.8bUK£53.1bUK£6.9b14.2x6.7x0.9x
Wed, 11 Oct 2023UK£45.3bUK£54.1bUK£7.0b13.1x6.5x0.8x
Fri, 08 Sep 2023UK£46.7bUK£54.1bUK£7.0b13.5x6.7x0.9x
Sun, 06 Aug 2023UK£45.1bUK£54.1bUK£7.0b13.3x6.4x0.8x
Tue, 04 Jul 2023UK£46.8bUK£47.9bUK£2.0b17.1x23.4x1x
Thu, 01 Jun 2023UK£48.4bUK£46.6bUK£2.0b20.8x24.5x1x
Sat, 29 Apr 2023UK£49.9bUK£45.9bUK£2.2b23x22.7x1.1x
Mon, 27 Mar 2023UK£46.3bUK£45.9bUK£2.2b23.6x21.1x1x
Price to Earnings Ratio

21.1x


Total Market Cap: UK£46.3bTotal 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 16.2x202420252026
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-2.70%
Utilities-4.70%
Other Utilities-6.00%
Multi-Utilities-6.00%
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£2.090.9%
+UK£85.8m		44.0%PS0.5x

Latest News

CNA
UK£2.09
Centrica
7D
0.9%
1Y
44.0%

CNA: Fair View Balances Low Carbon Upside With Fewer Near Term Catalysts

The analyst price target for Centrica has edged higher to reflect a modest uplift in fair value to £2.05 and a slightly richer future P/E assumption, as analysts balance higher UK low carbon and gas price tailwinds against recent share gains and fewer near term catalysts. Analyst Commentary Recent research on Centrica shows a split between bullish and bearish analysts, with several raising price targets while others have turned more cautious after the share price recovery and completion of the buyback.
TEP
UK£13.16
Telecom Plus
7D
-1.9%
1Y
-25.1%

TEP: Unchanged Fundamentals Will Support Stronger Future Shareholder Returns

Analysts have kept their fair value estimate for Telecom Plus steady at £23.48, reflecting unchanged assumptions for growth, profitability and future P/E that collectively support a stable price target outlook. Valuation Changes Fair Value: £23.48 is unchanged, indicating no revision to the central valuation for Telecom Plus.
NG.
UK£12.72
National Grid
7D
-7.0%
1Y
28.0%

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.