We Think Thessaloniki Water Supply & Sewerage Co's (ATH:EYAPS) Healthy Earnings Might Be Conservative
Nov 16
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Greek (ASE) Utilities Sector Analysis
UpdatedNov 14, 2025
DataAggregated Company Financials
Companies4
- 7D4.4%
- 3M8.4%
- 1Y36.3%
- YTD29.1%
Over the last 7 days, the Utilities industry has risen 4.4%, driven by gains from every company within the industry. This means that the industry has gained 36% over the past year. Looking forward, earnings are forecast to grow by 43% annually.
Sector Valuation and Performance
Has the Greek Utilities Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 16 Nov 2025 | €7.5b | €10.1b | €228.2m | 22.2x | 32.7x | 0.7x |
| Tue, 14 Oct 2025 | €6.6b | €10.1b | €228.2m | 21.1x | 28.9x | 0.7x |
| Thu, 11 Sep 2025 | €6.6b | €10.1b | €249.1m | 28.2x | 26.4x | 0.6x |
| Sat, 09 Aug 2025 | €6.8b | €10.0b | €242.1m | 30.6x | 28x | 0.7x |
| Mon, 07 Jul 2025 | €6.2b | €10.0b | €242.2m | 26.1x | 25.4x | 0.6x |
| Wed, 04 Jun 2025 | €6.1b | €10.0b | €241.4m | 26.1x | 25.4x | 0.6x |
| Fri, 02 May 2025 | €6.0b | €9.5b | €258.9m | 24.9x | 23.1x | 0.6x |
| Sun, 30 Mar 2025 | €8.7b | €9.8b | €328.7m | 29.6x | 26.5x | 0.9x |
| Tue, 25 Feb 2025 | €8.3b | €9.7b | €507.7m | 21.8x | 16.4x | 0.9x |
| Thu, 23 Jan 2025 | €8.2b | €9.7b | €507.7m | 21.4x | 16.2x | 0.9x |
| Sat, 21 Dec 2024 | €7.8b | €9.7b | €501.1m | 20.8x | 15.5x | 0.8x |
| Mon, 18 Nov 2024 | €7.9b | €9.6b | €494.3m | 20.5x | 15.9x | 0.8x |
| Wed, 16 Oct 2024 | €7.8b | €9.0b | €547.3m | 20.1x | 14.2x | 0.9x |
| Fri, 13 Sep 2024 | €7.5b | €9.0b | €530.2m | 29.7x | 14.1x | 0.8x |
| Sun, 11 Aug 2024 | €7.4b | €9.0b | €530.2m | 28.4x | 14x | 0.8x |
| Tue, 09 Jul 2024 | €7.6b | €8.5b | €566.2m | 29.8x | 13.4x | 0.9x |
| Thu, 06 Jun 2024 | €7.4b | €8.5b | €562.4m | 31.4x | 13.2x | 0.9x |
| Sat, 04 May 2024 | €7.4b | €8.5b | €570.7m | 30.5x | 13x | 0.9x |
| Mon, 01 Apr 2024 | €7.6b | €9.0b | €455.7m | 10.9x | 16.7x | 0.8x |
| Wed, 28 Feb 2024 | €7.5b | €9.0b | €455.7m | 11.1x | 16.4x | 0.8x |
| Fri, 26 Jan 2024 | €7.4b | €9.0b | €455.7m | 11.5x | 16.3x | 0.8x |
| Sun, 24 Dec 2023 | €7.2b | €9.0b | €455.7m | 10.5x | 15.8x | 0.8x |
| Tue, 21 Nov 2023 | €6.8b | €9.0b | €447.3m | 10.5x | 15.1x | 0.8x |
| Thu, 19 Oct 2023 | €6.3b | €11.2b | €218.2m | 19.7x | 28.8x | 0.6x |
| Sat, 16 Sep 2023 | €6.6b | €11.2b | €213.3m | 75.4x | 31x | 0.6x |
| Mon, 14 Aug 2023 | €7.0b | €11.2b | €213.3m | 82x | 32.9x | 0.6x |
| Wed, 12 Jul 2023 | €7.5b | €11.8b | €263.0m | 32x | 28.7x | 0.6x |
| Fri, 09 Jun 2023 | €7.5b | €11.8b | €263.0m | 30.3x | 28.3x | 0.6x |
| Sun, 07 May 2023 | €6.5b | €12.0b | €26.9m | 39.5x | 241x | 0.5x |
| Tue, 04 Apr 2023 | €6.5b | €12.3b | €202.3m | 19.6x | 32.2x | 0.5x |
| Thu, 02 Mar 2023 | €6.7b | €11.6b | €64.1m | 20.4x | 105.3x | 0.6x |
| Sat, 28 Jan 2023 | €6.4b | €11.6b | €64.1m | 20.9x | 99.7x | 0.5x |
| Mon, 26 Dec 2022 | €6.0b | €11.6b | €64.1m | 19.1x | 93.9x | 0.5x |
| Wed, 23 Nov 2022 | €5.9b | €8.9b | €83.5m | 22x | 71.1x | 0.7x |
Price to Earnings Ratio
71.1x
Current Industry PE
- Investors are relatively neutral on the Greek Utilities industry at the moment, indicating that they anticipate long term growth rates to remain steady.
- The industry is trading close to its 3-year average PE ratio of 32.2x.
- The industry is trading close to its 3-year average PS ratio of 0.72x.
Past Earnings Growth
- The earnings for companies in the Utilities industry have grown 40% per year over the last three years.
- Revenues for these companies have grown 4.3% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Trends
Which industries have driven the changes within the Greek Utilities sector?
| GR Market | 3.44% | |
| Utilities | 4.36% | |
| Water Utilities | 5.13% | |
| Electric Utilities | 4.26% | |
| Renewable Energy | 0% | 0 |
Industry PE
- Investors are most optimistic about the Water Utilities industry which is trading above its 3-year average PE ratio of 58.6x.
- It looks like they are confident that earnings will grow faster in the future than they have historically.
- Investors are most pessimistic about the Electric Utilities industry, which is trading below its 3-year average of 43.0x.
Forecasted Growth
- Analysts are most optimistic on the Electric Utilities industry, expecting annual earnings growth of 43% over the next 5 years.
- This is better than its past earnings decline of 31% per year.
- In contrast, the Electric Utilities industry is expected to see its earnings grow by 43% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| PPC Public Power | €16.79 | 4.1% +€230.5m | 39.3% | PE38.4x | |
| EYDAP Athens Water Supply and Sewerage | €7.10 | 5.3% +€38.3m | 24.6% | PS2x | |
| ADMIE Admie Holding | €3.09 | 5.6% +€38.2m | 29.6% | PE10.2x | |
| EYAPS Thessaloniki Water Supply & Sewerage Co | €3.69 | 3.9% +€5.1m | 17.1% | PE21.9x |
