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Hong Kong (HSI) Utilities Sector Analysis
UpdatedNov 14, 2025
DataAggregated Company Financials
Companies58
- 7D-1.0%
- 3M-3.0%
- 1Y12.9%
- YTD10.1%
Over the last 7 days, the Utilities industry has remained flat, although notably CGN Power declined by 4.4%. The past year has been better, since the industry has gained 13% in that time. As for the next few years, earnings are expected to grow by 7.4% per annum.
Sector Valuation and Performance
Has the Hong Kong Utilities Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 16 Nov 2025 | HK$1.8t | HK$1.7t | HK$129.3b | 9.8x | 13.8x | 1.1x |
| Tue, 14 Oct 2025 | HK$1.7t | HK$1.7t | HK$126.3b | 9.7x | 13.6x | 1x |
| Thu, 11 Sep 2025 | HK$1.9t | HK$1.8t | HK$132.2b | 10.2x | 14.2x | 1x |
| Sat, 09 Aug 2025 | HK$1.9t | HK$1.8t | HK$134.0b | 10.2x | 14x | 1x |
| Mon, 07 Jul 2025 | HK$1.8t | HK$1.8t | HK$133.0b | 9.2x | 13.7x | 1x |
| Wed, 04 Jun 2025 | HK$1.8t | HK$1.8t | HK$133.9b | 8.8x | 13.5x | 1x |
| Fri, 02 May 2025 | HK$1.7t | HK$1.8t | HK$132.6b | 8.9x | 13x | 1x |
| Sun, 30 Mar 2025 | HK$1.7t | HK$1.8t | HK$136.9b | 8.3x | 12.3x | 0.9x |
| Tue, 25 Feb 2025 | HK$1.7t | HK$1.8t | HK$119.8b | 8.8x | 14x | 0.9x |
| Thu, 23 Jan 2025 | HK$1.6t | HK$1.8t | HK$119.8b | 7.9x | 13.6x | 0.9x |
| Sat, 21 Dec 2024 | HK$1.7t | HK$1.8t | HK$119.4b | 8.6x | 14.3x | 1x |
| Mon, 18 Nov 2024 | HK$1.7t | HK$1.8t | HK$120.1b | 8.3x | 14x | 0.9x |
| Wed, 16 Oct 2024 | HK$1.7t | HK$1.8t | HK$124.4b | 9.2x | 13.6x | 0.9x |
| Fri, 13 Sep 2024 | HK$1.6t | HK$1.8t | HK$124.7b | 7.8x | 12.9x | 0.9x |
| Sun, 11 Aug 2024 | HK$1.8t | HK$1.8t | HK$124.9b | 8.7x | 14.1x | 1x |
| Tue, 09 Jul 2024 | HK$1.8t | HK$1.8t | HK$124.7b | 9.2x | 14.4x | 1x |
| Thu, 06 Jun 2024 | HK$1.8t | HK$1.8t | HK$125.4b | 9.4x | 14x | 1x |
| Sat, 04 May 2024 | HK$1.7t | HK$1.8t | HK$125.6b | 9.1x | 13.3x | 0.9x |
| Mon, 01 Apr 2024 | HK$1.6t | HK$1.8t | HK$121.3b | 9x | 13.4x | 0.9x |
| Wed, 28 Feb 2024 | HK$1.6t | HK$1.8t | HK$120.8b | 8.6x | 13.6x | 0.9x |
| Fri, 26 Jan 2024 | HK$1.6t | HK$1.8t | HK$125.0b | 8.2x | 12.8x | 0.9x |
| Sun, 24 Dec 2023 | HK$1.5t | HK$1.8t | HK$125.2b | 8x | 12.2x | 0.8x |
| Tue, 21 Nov 2023 | HK$1.5t | HK$1.8t | HK$126.6b | 8.1x | 12x | 0.8x |
| Thu, 19 Oct 2023 | HK$1.5t | HK$1.8t | HK$114.9b | 8.1x | 13x | 0.8x |
| Sat, 16 Sep 2023 | HK$1.5t | HK$1.8t | HK$115.0b | 8.3x | 13.2x | 0.8x |
| Mon, 14 Aug 2023 | HK$1.6t | HK$1.8t | HK$108.3b | 9.8x | 15.1x | 0.9x |
| Wed, 12 Jul 2023 | HK$1.7t | HK$1.8t | HK$92.5b | 9.5x | 18.2x | 0.9x |
| Fri, 09 Jun 2023 | HK$1.7t | HK$1.8t | HK$95.2b | 9.8x | 17.5x | 0.9x |
| Sun, 07 May 2023 | HK$1.8t | HK$1.9t | HK$95.9b | 9.9x | 18.4x | 0.9x |
| Tue, 04 Apr 2023 | HK$1.6t | HK$1.9t | HK$90.4b | 10.1x | 18.1x | 0.9x |
| Thu, 02 Mar 2023 | HK$1.7t | HK$1.8t | HK$60.8b | 8.7x | 27.8x | 0.9x |
| Sat, 28 Jan 2023 | HK$1.8t | HK$1.8t | HK$59.1b | 8.8x | 29.7x | 1x |
| Mon, 26 Dec 2022 | HK$1.6t | HK$1.8t | HK$59.2b | 8.2x | 26.4x | 0.9x |
| Wed, 23 Nov 2022 | HK$1.5t | HK$1.7t | HK$60.1b | 7.8x | 25.5x | 0.9x |
Price to Earnings Ratio
25.5x
Current Industry PE
- Investors are pessimistic on the Hong Kong Utilities industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 13.8x which is lower than its 3-year average PE of 15.7x.
- The 3-year average PS ratio of 0.93x is lower than the industry's current PS ratio of 1.1x.
Past Earnings Growth
- The earnings for companies in the Utilities industry have grown 29% per year over the last three years, while revenues have remained mostly flat.
- This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.
Industry Trends
Which industries have driven the changes within the Hong Kong Utilities sector?
| HK Market | 1.84% | |
| Utilities | -0.95% | |
| Electric Utilities | 1.75% | |
| Water Utilities | 0.49% | |
| Gas Utilities | 0.013% | |
| Other Utilities | -0.38% | |
| Renewable Energy | -3.34% | |
Industry PE
- Investors are most optimistic about the Water Utilities industry which is trading above its 3-year average PE ratio of 11.2x.
- Analysts are expecting annual earnings growth of 4.5%, which is higher than its past year's earnings decline of 13.4% per year.
- Investors are most pessimistic about the Other Utilities industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 3.9x.
Forecasted Growth
- Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 10.0% over the next 5 years.
- This is better than its past earnings decline of 5.1% per year.
- In contrast, the Electric Utilities industry is expected to see its earnings grow by 3.9% 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 | |
|---|---|---|---|---|---|
| 1038 CK Infrastructure Holdings | HK$54.25 | 2.5% +HK$3.3b | 1.3% | PE16.8x | |
| 2 CLP Holdings | HK$68.80 | 1.6% +HK$2.8b | 4.4% | PE15.2x | |
| 2688 ENN Energy Holdings | HK$70.30 | 2.3% +HK$1.8b | 37.6% | PE12.2x | |
| 6 Power Assets Holdings | HK$51.75 | 1.6% +HK$1.7b | 2.7% | PE17.9x | |
| 384 China Gas Holdings | HK$8.73 | 2.2% +HK$1.0b | 37.0% | PE14.6x |
