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Italian (Borsa Italiana) Utilities Sector Analysis

UpdatedDec 20, 2025
DataAggregated Company Financials
Companies19
  • 7D0.7%
  • 3M10.8%
  • 1Y27.5%
  • YTD24.1%

The Utilities industry has stayed flat over the last week. The past year has been better, since the industry has gained 27% in that time. Looking forward, earnings are forecast to grow by 3.4% annually.

Sector Valuation and Performance

Has the Italian Utilities Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 20 Dec 2025€172.3b€145.6b€11.9b14.6x14.5x1.2x
Mon, 17 Nov 2025€176.6b€145.4b€11.9b14.9x14.8x1.2x
Wed, 15 Oct 2025€167.7b€145.2b€11.7b14.3x14.3x1.2x
Fri, 12 Sep 2025€157.3b€145.0b€11.7b13.2x13.4x1.1x
Sun, 10 Aug 2025€155.6b€145.0b€11.7b12.9x13.2x1.1x
Tue, 08 Jul 2025€157.6b€144.4b€12.5b14.6x12.6x1.1x
Thu, 05 Jun 2025€159.3b€144.2b€12.5b14.9x12.8x1.1x
Sat, 03 May 2025€152.2b€139.3b€12.2b13.7x12.5x1.1x
Mon, 31 Mar 2025€148.2b€142.9b€12.5b13.7x11.9x1x
Wed, 26 Feb 2025€139.0b€145.2b€10.7b14.4x13x1x
Fri, 24 Jan 2025€135.7b€146.0b€10.7b14.3x12.7x0.9x
Sun, 22 Dec 2024€134.5b€146.0b€10.7b14.1x12.6x0.9x
Tue, 19 Nov 2024€133.9b€146.0b€10.7b14.4x12.5x0.9x
Thu, 17 Oct 2024€142.6b€149.6b€10.5b14.7x13.5x1x
Sat, 14 Sep 2024€139.2b€149.3b€10.5b14.2x13.2x0.9x
Mon, 12 Aug 2024€128.3b€149.3b€10.5b13.6x12.2x0.9x
Wed, 10 Jul 2024€129.2b€152.4b€9.7b13.2x13.3x0.8x
Fri, 07 Jun 2024€134.1b€153.0b€9.7b13.5x13.8x0.9x
Sun, 05 May 2024€126.9b€164.7b€8.6b13.9x14.8x0.8x
Tue, 02 Apr 2024€125.5b€169.9b€8.4b14.2x14.9x0.7x
Thu, 29 Feb 2024€121.2b€179.2b€9.4b14.8x12.8x0.7x
Sat, 27 Jan 2024€128.1b€182.2b€9.3b17.2x13.8x0.7x
Mon, 25 Dec 2023€133.0b€182.2b€9.3b17.6x14.3x0.7x
Wed, 22 Nov 2023€127.7b€182.5b€9.3b16.4x13.7x0.7x
Fri, 20 Oct 2023€117.3b€212.4b€7.6b16.7x15.5x0.6x
Sun, 17 Sep 2023€128.1b€212.5b€7.6b17.6x17x0.6x
Tue, 15 Aug 2023€122.6b€212.5b€7.6b16.7x16.2x0.6x
Thu, 13 Jul 2023€125.4b€227.9b€6.9b16.1x18.1x0.6x
Sat, 10 Jun 2023€127.0b€227.4b€6.9b16.5x18.3x0.6x
Mon, 08 May 2023€128.3b€227.3b€6.8b16x18.9x0.6x
Wed, 05 Apr 2023€120.4b€233.4b€7.2b15.2x16.7x0.5x
Fri, 03 Mar 2023€114.0b€228.1b€6.6b13.4x17.2x0.5x
Sun, 29 Jan 2023€118.8b€225.5b€6.7b13.6x17.6x0.5x
Tue, 27 Dec 2022€112.3b€225.5b€6.7b13x16.7x0.5x
Price to Earnings Ratio

16.7x


Total Market Cap: €112.3bTotal Earnings: €6.7bTotal Revenue: €225.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Italian Utilities Sector Price to Earnings3Y Average 14.5x202320242025
Current Industry PE
  • Investors are relatively neutral on the Italian 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 14.5x.
  • The 3-year average PS ratio of 0.82x is lower than the industry's current PS ratio of 1.2x.
Past Earnings Growth
  • The earnings for companies in the Utilities industry have grown 21% per year over the last three years.
  • Meanwhile revenues for these companies have declined 14% per year.
  • This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.

Industry Trends

Which industries have driven the changes within the Italian Utilities sector?

IT Market2.36%
Utilities0.73%
Gas Utilities1.71%
Renewable Energy0.73%
Other Utilities0.62%
Electric Utilities0.48%
Industry PE
  • Investors are most optimistic about the Renewable Energy industry which is trading above its 3-year average PE ratio of 22.4x.
    • Analysts are expecting annual earnings growth of 9.6%, which is higher than its past year's earnings decline of 18.6% per year.
  • Investors are most pessimistic about the Other Utilities industry, which is trading close to its 3-year average of 10.6x.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 9.6% over the next 5 years.
  • This is better than its past earnings decline of 19% per year.
  • In contrast, the Other Utilities industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
TRN Terna€8.991.8%
+€325.1m		18.1%PE16.7x
SRG Snam€5.641.7%
+€308.6m		33.1%PE13.9x
ENEL Enel€8.740.2%
+€181.4m		28.4%PE14.3x
IG Italgas€9.331.8%
+€167.4m		74.0%PE14.8x
ACE ACEA€22.061.1%
+€51.0m		20.9%PE11.9x

Latest News

A2A
€2.30
A2A
7D
-0.09%
1Y
8.5%

A2A: Improving Revenue Outlook Will Support Future Upside Despite Softer Margins

Analysts have nudged their price target on A2A slightly lower from €2.67 to €2.65. This reflects a modestly more cautious view on profit margins, even as revenue growth expectations improve.
HER
€4.02
Hera
7D
0.7%
1Y
19.8%

HER: Future Outlook Will Remain Steady As Margins And Revenue Trends Modestly Improve

Analysts have modestly increased their price target on Hera to $4.35 per share, citing slightly improved expectations for long term revenue trends and profit margins despite largely unchanged valuation assumptions. Valuation Changes Fair Value: unchanged at €4.35 per share, indicating no material revision to the intrinsic value estimate.
ERG
€21.84
ERG
7D
1.2%
1Y
11.3%
SRG
€5.64
Snam
7D
1.7%
1Y
33.1%

SRG: Dividend Stability And Sector Performance Will Guide Fairly Valued Shares Forward

Analysts have nudged their price target on Snam higher to EUR 5.61 from around EUR 5.54, reflecting modestly stronger long term value expectations, despite slightly softer growth and margin assumptions in line with recent sector perform research. Analyst Commentary Recent research highlights a more balanced stance on Snam, with adjustments to price targets reflecting both recognition of the shares' resilience and concerns about relative growth versus peers.
IRE
€2.54
Iren
7D
1.4%
1Y
35.9%

IRE: Future Earnings Resilience Will Offset Slower Revenue Trajectory

Analysts have trimmed their price target on Iren slightly to EUR 2.90. This reflects a more cautious Hold stance as they factor in softer revenue growth assumptions, offset by a modestly improved profit margin outlook and a lower discount rate.
ACE
€22.06
ACEA
7D
1.1%
1Y
20.9%

ACE: Stable Margins And Lower Risk Will Support Future Fair Value

Analysts have nudged their price target for ACEA slightly higher to $23.68 from $23.68, reflecting marginally lower perceived risk and stable long term earnings expectations despite relatively flat growth and margin assumptions. Valuation Changes Fair Value: Unchanged at €23.68 per share, indicating stable long term intrinsic value estimates.
EVISO
€7.03
eVISO
7D
-1.0%
1Y
8.2%
ENEL
€8.74
Enel
7D
0.2%
1Y
28.4%

ENEL: Execution On Earnings Guidance And Dividends Will Shape Medium-Term Upside

Analysts have modestly trimmed their price target on Enel to approximately EUR 9.00. This reflects slightly higher assumed revenue growth and valuation multiples, but also a more cautious stance on upside potential in light of recent target cuts and rating downgrades across the Street.
TRN
€8.99
Terna
7D
1.8%
1Y
18.1%

These 4 Measures Indicate That Terna (BIT:TRN) Is Using Debt Extensively

Dec 05
These 4 Measures Indicate That Terna (BIT:TRN) Is Using Debt Extensively
AC5
€2.22
Acinque
7D
-0.9%
1Y
11.0%
IG
€9.33
Italgas
7D
1.8%
1Y
74.0%
DEA
€7.85
Distribuzione Elettrica Adriatica
7D
-1.9%
1Y
-6.5%
ECK
€2.30
Ecosuntek
7D
-2.5%
1Y
32.2%

The Return Trends At Ecosuntek (BIT:ECK) Look Promising

Sep 02
The Return Trends At Ecosuntek (BIT:ECK) Look Promising
IB
€11.40
Iniziative Bresciane
7D
-0.9%
1Y
-20.3%