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Italian (Borsa Italiana) Utilities Sector Analysis

UpdatedFeb 25, 2026
DataAggregated Company Financials
Companies19
  • 7D2.7%
  • 3M9.3%
  • 1Y36.7%
  • YTD8.7%

In the last week, the Utilities industry is up 2.9%, with Enel up 6.2%. This means that the industry has gained 37% over the past year. As for the next few years, earnings are expected to grow by 3.4% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 25 Feb 2026€190.8b€145.6b€11.9b16.8x16.1x1.3x
Fri, 23 Jan 2026€177.6b€145.6b€11.9b15.3x15x1.2x
Sun, 21 Dec 2025€172.3b€145.6b€11.9b14.6x14.5x1.2x
Tue, 18 Nov 2025€177.5b€145.4b€11.9b14.9x14.9x1.2x
Thu, 16 Oct 2025€167.8b€145.2b€11.7b14.4x14.3x1.2x
Sat, 13 Sep 2025€158.2b€145.0b€11.7b13.3x13.5x1.1x
Mon, 11 Aug 2025€155.6b€145.0b€11.7b12.9x13.2x1.1x
Wed, 09 Jul 2025€156.8b€144.4b€12.5b14.5x12.6x1.1x
Fri, 06 Jun 2025€158.0b€144.2b€12.5b14.7x12.7x1.1x
Sun, 04 May 2025€152.2b€139.3b€12.2b13.7x12.5x1.1x
Tue, 01 Apr 2025€147.8b€142.9b€12.5b13x11.8x1x
Thu, 27 Feb 2025€139.4b€145.2b€10.7b14.4x13x1x
Sat, 25 Jan 2025€135.2b€146.0b€10.7b14.2x12.6x0.9x
Mon, 23 Dec 2024€134.5b€146.0b€10.7b14.1x12.6x0.9x
Wed, 20 Nov 2024€133.3b€146.0b€10.7b14.4x12.5x0.9x
Fri, 18 Oct 2024€143.2b€149.6b€10.5b14.7x13.6x1x
Sun, 15 Sep 2024€139.2b€149.3b€10.5b14.2x13.2x0.9x
Tue, 13 Aug 2024€128.8b€149.3b€10.5b13.7x12.2x0.9x
Thu, 11 Jul 2024€131.0b€152.4b€9.7b13.4x13.5x0.9x
Sat, 08 Jun 2024€132.5b€153.0b€9.7b13.6x13.7x0.9x
Mon, 06 May 2024€126.9b€164.7b€8.6b13.9x14.8x0.8x
Wed, 03 Apr 2024€123.8b€169.9b€8.4b14.1x14.7x0.7x
Fri, 01 Mar 2024€121.8b€179.2b€9.4b15.3x12.9x0.7x
Sun, 28 Jan 2024€128.1b€182.2b€9.3b17.2x13.8x0.7x
Tue, 26 Dec 2023€133.0b€182.2b€9.3b17.6x14.3x0.7x
Thu, 23 Nov 2023€127.2b€182.5b€9.3b16.6x13.6x0.7x
Sat, 21 Oct 2023€116.7b€212.4b€7.6b16.6x15.5x0.5x
Mon, 18 Sep 2023€128.1b€212.5b€7.6b17.6x17x0.6x
Wed, 16 Aug 2023€122.6b€212.5b€7.6b16.7x16.2x0.6x
Fri, 14 Jul 2023€126.7b€227.9b€6.9b16.1x18.2x0.6x
Sun, 11 Jun 2023€127.0b€227.9b€7.0b16.5x18.3x0.6x
Tue, 09 May 2023€127.9b€227.3b€6.8b16.3x18.9x0.6x
Thu, 06 Apr 2023€122.4b€233.4b€7.2b15.5x17x0.5x
Sat, 04 Mar 2023€114.7b€228.1b€6.6b13.6x17.3x0.5x
Price to Earnings Ratio

17.3x


Total Market Cap: €114.7bTotal Earnings: €6.6bTotal Revenue: €228.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Italian Utilities Sector Price to Earnings3Y Average 14.3x202420252026
Current Industry PE
  • Investors are optimistic on the Italian Utilities industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 16.0x which is higher than its 3-year average PE of 14.3x.
  • The 3-year average PS ratio of 0.86x is lower than the industry's current PS ratio of 1.3x.
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 Market1.69%
Utilities2.69%
Electric Utilities5.02%
Gas Utilities0.69%
Other Utilities-0.39%
Renewable Energy-5.16%
Industry PE
  • Investors are most optimistic about the Renewable Energy industry which is trading above its 3-year average PE ratio of 22.6x.
    • Analysts are expecting annual earnings growth of 7.6%, which is higher than its past year's earnings decline of 18.6% per year.
  • Investors are most pessimistic about the Other Utilities industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 10.6x.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 7.6% 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
ENEL Enel€9.806.2%
+€5.7b		40.3%PE16x
SRG Snam€6.400.8%
+€161.0m		39.8%PE15.8x
ERG ERG€23.603.7%
+€122.1m		25.9%PE20.5x
IG Italgas€11.120.9%
+€101.5m		81.8%PE17.7x
HER Hera€4.350.6%
+€35.2m		19.6%PE12.6x

Latest News

SRG
€6.40
Snam
7D
0.8%
1Y
39.8%
IB
€11.90
Iniziative Bresciane
7D
-1.7%
1Y
-19.6%
EVISO
€8.10
eVISO
7D
7.3%
1Y
-0.5%
IG
€11.12
Italgas
7D
0.9%
1Y
81.8%
ENEL
€9.80
Enel
7D
6.2%
1Y
40.3%

ENEL: Rebased Discount Rate And Investor Day Update Will Shape Outlook

Analysts have nudged their Enel price targets higher, with recent Street research pointing to a few euros of upside per share as they refine assumptions around fair value, discount rates, revenue growth, margins, and future P/E expectations. Analyst Commentary Recent research updates have focused on refining fair value estimates for Enel, with price targets adjusted by around €1.20 to €2.10 per share as analysts revisit their core assumptions.
IRE
€2.71
Iren
7D
-2.5%
1Y
29.9%

IRE: Stable Fair Value And 2026 Board Milestones Will Shape A Balanced Outlook

Analysts have adjusted their price target for Iren to €2.85 from €2.85, reflecting updated assumptions on discount rate, revenue growth, profit margin and forward P/E, while the fair value estimate remains unchanged at €2.85. What's in the News Iren has scheduled a board meeting on March 23, 2026 to review the financial statements and consolidated financial statements for the year ended December 31, 2025 (company event calendar).
ARN
€18.32
Alerion Clean Power
7D
-2.2%
1Y
47.3%
ASC
€3.78
Ascopiave
7D
-1.9%
1Y
28.6%

ASC: 2026 Board Calendar And Assumption Shifts Will Frame Balanced Outlook

Analysts have raised their price target for Ascopiave to €3.77 from €3.77, citing updated assumptions that include a lower discount rate, slightly higher revenue growth, a firmer profit margin and a reduced future P/E multiple. What's in the News Board meeting scheduled for March 5, 2026, to consider and approve the draft financial statements and consolidated financial statements for the 2025 financial year (Key Developments).
HER
€4.35
Hera
7D
0.6%
1Y
19.6%

Hera S.p.A. (BIT:HER) Looks Inexpensive But Perhaps Not Attractive Enough

Feb 14
Hera S.p.A. (BIT:HER) Looks Inexpensive But Perhaps Not Attractive Enough
ERG
€23.60
ERG
7D
3.7%
1Y
25.9%

ERG (BIT:ERG) Is Doing The Right Things To Multiply Its Share Price

Feb 12
ERG (BIT:ERG) Is Doing The Right Things To Multiply Its Share Price
ACE
€25.78
ACEA
7D
-0.3%
1Y
48.2%

ACE: Softer Revenue Contraction And Richer P/E Assumptions Will Support Fair Value

Analysts have nudged their price target for ACEA higher from €24.24 to €24.90, citing a slightly lower discount rate, a modestly softer projected revenue contraction and profit margin, and a somewhat richer assumed future P/E multiple. Valuation Changes Fair Value: Price target adjusted from €24.24 to €24.90, indicating a small upward move in the estimated fair value range.
A2A
€2.41
A2A
7D
-0.2%
1Y
12.0%

A2A: Updated Assumptions And 2026 Board Calendar Will Shape Measured Outlook

Narrative Update Analysts have lifted their fair value estimate for A2A from €2.71 to €2.81, citing updated assumptions around revenue growth, discount rate and future P/E as the key drivers behind the new price target. What's in the News Board meeting scheduled for March 17, 2026, to approve the draft financial statements and the 2025 consolidated financial statements (Key Developments).
TRN
€10.03
Terna
7D
-0.4%
1Y
25.8%
AC5
€2.24
Acinque
7D
-2.6%
1Y
9.3%
DEA
€9.40
Distribuzione Elettrica Adriatica
7D
6.2%
1Y
21.8%
ECK
€2.40
Ecosuntek
7D
6.2%
1Y
38.3%

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

Sep 02
The Return Trends At Ecosuntek (BIT:ECK) Look Promising