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

UpdatedMar 13, 2026
DataAggregated Company Financials
Companies3
  • 7D1.9%
  • 3M22.1%
  • 1Y41.5%
  • YTDn/a

The Multi-Utilities is pretty flat in the last 7 days, but Centrica has stood out, gaining 3.9%. As for the the longer term, the industry is up 38% 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, 13 Mar 2026UK£78.4bUK£38.9bUK£2.9b19.9x27.4x2x
Sun, 08 Feb 2026UK£73.6bUK£38.9bUK£2.7b19.2x27.3x1.9x
Tue, 06 Jan 2026UK£66.0bUK£38.9bUK£2.7b18.3x24.5x1.7x
Thu, 04 Dec 2025UK£65.7bUK£38.9bUK£2.7b18.6x24.4x1.7x
Sat, 01 Nov 2025UK£66.3bUK£39.7bUK£2.7b19.3x24.9x1.7x
Mon, 29 Sep 2025UK£61.7bUK£39.7bUK£2.7b19x23.2x1.6x
Wed, 27 Aug 2025UK£61.2bUK£39.7bUK£2.7b19x23x1.5x
Fri, 25 Jul 2025UK£61.8bUK£40.1bUK£4.2b18.6x14.6x1.5x
Sun, 22 Jun 2025UK£61.0bUK£40.1bUK£4.2b18.2x14.4x1.5x
Tue, 20 May 2025UK£61.6bUK£40.1bUK£4.2b18.6x14.5x1.5x
Thu, 17 Apr 2025UK£61.5bUK£41.1bUK£3.1b18.3x19.6x1.5x
Sat, 15 Mar 2025UK£55.9bUK£41.1bUK£3.1b18.2x17.8x1.4x
Mon, 10 Feb 2025UK£56.3bUK£41.7bUK£2.9b18.1x19.4x1.4x
Wed, 08 Jan 2025UK£54.2bUK£41.7bUK£2.9b17.5x18.7x1.3x
Fri, 06 Dec 2024UK£55.6bUK£41.7bUK£2.9b19.2x19.2x1.3x
Sun, 03 Nov 2024UK£55.6bUK£42.4bUK£3.4b18.8x16.4x1.3x
Tue, 01 Oct 2024UK£57.8bUK£42.4bUK£3.4b20.6x17x1.4x
Thu, 29 Aug 2024UK£57.1bUK£42.4bUK£3.4b20.6x16.8x1.3x
Sat, 27 Jul 2024UK£55.8bUK£42.4bUK£3.4b20.4x16.5x1.3x
Mon, 24 Jun 2024UK£51.7bUK£48.3bUK£6.2b19.4x8.3x1.1x
Wed, 22 May 2024UK£51.2bUK£50.0bUK£6.6b16.4x7.8x1x
Fri, 19 Apr 2024UK£46.5bUK£50.0bUK£6.6b15x7.1x0.9x
Sun, 17 Mar 2024UK£47.2bUK£50.0bUK£6.6b15.2x7.2x0.9x
Tue, 13 Feb 2024UK£45.5bUK£53.4bUK£6.9b14.6x6.6x0.9x
Thu, 11 Jan 2024UK£48.9bUK£53.4bUK£6.9b15.4x7.1x0.9x
Sat, 09 Dec 2023UK£48.3bUK£53.4bUK£6.9b15.3x7x0.9x
Mon, 06 Nov 2023UK£46.3bUK£54.1bUK£7.0b13.5x6.6x0.9x
Wed, 04 Oct 2023UK£44.3bUK£54.1bUK£7.0b12.7x6.3x0.8x
Fri, 01 Sep 2023UK£46.1bUK£54.1bUK£7.0b13.5x6.6x0.9x
Sun, 30 Jul 2023UK£46.7bUK£54.1bUK£7.0b14x6.7x0.9x
Tue, 27 Jun 2023UK£45.9bUK£46.6bUK£2.0b20.2x23.2x1x
Thu, 25 May 2023UK£48.0bUK£46.6bUK£2.0b21.7x24.3x1x
Sat, 22 Apr 2023UK£50.0bUK£45.9bUK£2.2b24x22.8x1.1x
Mon, 20 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 16.2x202420252026
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-1.19%
Utilities1.56%
Other Utilities1.85%
Multi-Utilities1.85%
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£13.681.2%
+UK£795.4m		43.0%PE23.7x
CNA CentricaUK£2.077.1%
+UK£616.1m		43.8%PS0.5x
TEP Telecom PlusUK£13.421.5%
+UK£16.0m		-21.9%PE16.2x

Latest News

NG.
UK£13.68
National Grid
7D
1.2%
1Y
43.0%

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£13.42
Telecom Plus
7D
1.5%
1Y
-21.9%

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£2.07
Centrica
7D
7.1%
1Y
43.8%

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.