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Italian (Borsa Italiana) Utilities Sector Analysis

UpdatedJan 15, 2026
DataAggregated Company Financials
Companies19
  • 7D-0.1%
  • 3M7.5%
  • 1Y29.8%
  • YTD3.0%

The Utilities industry has stayed flat over the last week. The past year has been better, since the industry has gained 30% in that time. Earnings are forecast to grow by 3.3% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 15 Jan 2026€181.2b€145.6b€11.9b15.6x15.3x1.2x
Sat, 13 Dec 2025€171.0b€145.3b€11.9b14.4x14.3x1.2x
Mon, 10 Nov 2025€175.9b€145.5b€11.7b14.8x15x1.2x
Wed, 08 Oct 2025€163.4b€145.2b€11.7b13.7x13.9x1.1x
Fri, 05 Sep 2025€157.0b€145.0b€11.7b13.3x13.4x1.1x
Sun, 03 Aug 2025€154.4b€145.0b€11.7b12.9x13.2x1.1x
Tue, 01 Jul 2025€158.0b€144.4b€12.5b14.2x12.7x1.1x
Thu, 29 May 2025€158.3b€144.2b€12.5b14.7x12.7x1.1x
Sat, 26 Apr 2025€149.7b€139.3b€12.2b13.6x12.3x1.1x
Mon, 24 Mar 2025€144.3b€142.3b€12.4b14.2x11.6x1x
Wed, 19 Feb 2025€137.4b€145.2b€10.7b14x12.9x0.9x
Fri, 17 Jan 2025€140.2b€146.0b€10.7b14.5x13.1x1x
Sun, 15 Dec 2024€136.9b€146.0b€10.7b14.3x12.8x0.9x
Tue, 12 Nov 2024€134.2b€145.9b€10.6b13.4x12.7x0.9x
Thu, 10 Oct 2024€138.0b€149.4b€10.5b14.6x13.1x0.9x
Sat, 07 Sep 2024€138.0b€149.3b€10.5b14x13.1x0.9x
Mon, 05 Aug 2024€129.7b€149.6b€10.5b13.8x12.3x0.9x
Wed, 03 Jul 2024€128.4b€152.4b€9.7b13.3x13.2x0.8x
Fri, 31 May 2024€130.8b€153.0b€9.7b13.2x13.5x0.9x
Sun, 28 Apr 2024€125.1b€166.7b€8.6b14.3x14.6x0.8x
Tue, 26 Mar 2024€125.1b€172.0b€8.5b14.1x14.7x0.7x
Thu, 22 Feb 2024€123.7b€182.2b€9.3b15.7x13.3x0.7x
Sat, 20 Jan 2024€132.5b€182.2b€9.3b17.3x14.2x0.7x
Mon, 18 Dec 2023€132.9b€182.2b€9.3b17.8x14.3x0.7x
Wed, 15 Nov 2023€125.5b€186.7b€9.3b16.4x13.5x0.7x
Fri, 13 Oct 2023€118.6b€212.4b€7.6b17x15.7x0.6x
Sun, 10 Sep 2023€126.3b€212.5b€7.6b17.6x16.7x0.6x
Tue, 08 Aug 2023€120.3b€212.5b€7.2b16.6x16.6x0.6x
Thu, 06 Jul 2023€125.8b€227.9b€6.9b16.2x18.1x0.6x
Sat, 03 Jun 2023€126.4b€227.3b€6.9b16.2x18.2x0.6x
Mon, 01 May 2023€128.2b€235.8b€7.0b16.1x18.4x0.5x
Wed, 29 Mar 2023€117.5b€234.1b€7.3b14.3x16.1x0.5x
Fri, 24 Feb 2023€114.6b€228.3b€6.6b13.5x17.2x0.5x
Sun, 22 Jan 2023€120.0b€225.5b€6.7b13.5x17.8x0.5x
Price to Earnings Ratio

17.8x


Total Market Cap: €120.0bTotal Earnings: €6.7bTotal Revenue: €225.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Italian Utilities Sector Price to Earnings3Y Average 14.4x202420252026
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 14.4x.
  • The 3-year average PS ratio of 0.83x 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 Market0.46%
Utilities-0.12%
Renewable Energy0.92%
Electric Utilities0.075%
Other Utilities-0.15%
Gas Utilities-1.34%
Industry PE
  • Investors are most optimistic about the Renewable Energy industry which is trading above its 3-year average PE ratio of 22.5x.
    • Analysts are expecting annual earnings growth of 9.7%, 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 9.7% 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€9.320.6%
+€513.8m		32.2%PE15.3x
A2A A2A€2.420.3%
+€25.0m		6.9%PE10.3x
EVISO eVISO€7.294.6%
+€7.5m		-0.7%PE34.9x
FRE Frendy Energy€0.225.8%
+€711.8k		-13.4%PE65.2x
CGF Cogefeed€1.009.9%
+€463.0k		38.9%n/a

Latest News

CGF
€1.00
Cogefeed
7D
9.9%
1Y
38.9%
TRN
€9.16
Terna
7D
-2.3%
1Y
18.8%

The Returns At Terna (BIT:TRN) Aren't Growing

Jan 13
The Returns At Terna (BIT:TRN) Aren't Growing
HER
€4.15
Hera
7D
-0.4%
1Y
19.8%

HER: Future Outlook Will Remain Steady With Stable Margins And Earnings Assumptions

Narrative Update on Hera Analysts have kept their price target for Hera broadly steady at €4.35, citing unchanged views on fair value, discount rate, revenue trajectory, profit margins, and future P/E assumptions. Valuation Changes Fair Value: unchanged at €4.35, indicating a stable view of Hera's estimated equity value per share.
ENEL
€9.32
Enel
7D
0.6%
1Y
32.2%
SRG
€5.81
Snam
7D
-0.2%
1Y
32.6%
ACE
€22.92
ACEA
7D
-0.6%
1Y
24.8%

ACE: Stable Margins And Minor Assumption Shifts Will Support Fair Value

Analysts have maintained their fair value target for ACEA at €23.68, with only minor adjustments to the discount rate, long term revenue growth assumptions and future P/E. This reflects a view that recent information does not materially change their overall valuation stance.
ERG
€22.28
ERG
7D
-3.0%
1Y
13.8%

ERG: Lower Margin Outlook Will Pressure Returns Despite Reduced Discount Rate

Analysts have kept their ERG fair value target steady at $20.00, with the latest adjustment reflecting updated assumptions for discount rate, revenue growth, profit margin and future P/E, rather than a shift in their overall price view. What's in the News Board meeting scheduled for March 11, 2026, to review and approve ERG S.p.A.'s consolidated financial statements and draft financial statements as of December 31, 2025 (Key Developments).
A2A
€2.42
A2A
7D
0.3%
1Y
6.9%

A2A: Higher Revenue Outlook And Stable Risk Profile Will Support Measured Upside

Analysts have slightly raised their price target for A2A, reflecting small adjustments to fair value, discount rate, revenue growth, profit margin, and future P/E assumptions in their updated models. What's in the News A board meeting is scheduled for March 17, 2026, to approve the draft financial statements and the 2025 consolidated financial statements (company event calendar).
IRE
€2.71
Iren
7D
-0.1%
1Y
40.9%

IRE: Hold Downgrade And Updated Assumptions Will Frame A Cautious Outlook

Analysts have lifted their price target on Iren from €2.00 to €2.85, pointing to updated assumptions on the discount rate, revenue trends, profit margins and future P/E. These assumptions align with recent Street research, including a Hold rating with a €2.90 target.
ARN
€18.72
Alerion Clean Power
7D
-1.5%
1Y
20.5%

Investors Don't See Light At End Of Alerion Clean Power S.p.A.'s (BIT:ARN) Tunnel

Dec 17
Investors Don't See Light At End Of Alerion Clean Power S.p.A.'s (BIT:ARN) Tunnel
EVISO
€7.29
eVISO
7D
4.6%
1Y
-0.7%
IG
€10.01
Italgas
7D
-3.5%
1Y
82.8%
FRE
€0.22
Frendy Energy
7D
5.8%
1Y
-13.4%