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Italian (Borsa Italiana) Utilities Sector Analysis

UpdatedJan 29, 2026
DataAggregated Company Financials
Companies19
  • 7D3.1%
  • 3M3.8%
  • 1Y31.0%
  • YTD2.5%

Over the last 7 days, the Utilities industry has risen 3.1%, driven by gains from Enel of 4.4%. This takes the industry's 12 month performance to a gain of 31%. 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
Fri, 30 Jan 2026€179.9b€145.6b€11.9b15.6x15.2x1.2x
Sun, 28 Dec 2025€172.6b€145.6b€11.9b14.7x14.6x1.2x
Tue, 25 Nov 2025€175.0b€145.4b€11.9b14.8x14.7x1.2x
Thu, 23 Oct 2025€170.4b€145.2b€11.7b14.7x14.5x1.2x
Sat, 20 Sep 2025€156.1b€145.0b€11.7b13.1x13.3x1.1x
Mon, 18 Aug 2025€159.1b€145.0b€11.7b13.3x13.6x1.1x
Wed, 16 Jul 2025€155.5b€144.4b€12.5b14.5x12.5x1.1x
Fri, 13 Jun 2025€159.1b€144.2b€12.5b14.6x12.8x1.1x
Sun, 11 May 2025€153.1b€142.1b€12.5b13.7x12.3x1.1x
Tue, 08 Apr 2025€136.7b€143.0b€12.5b12.2x10.9x1x
Thu, 06 Mar 2025€135.0b€145.2b€10.7b13.8x12.6x0.9x
Sat, 01 Feb 2025€138.5b€146.0b€10.7b14.5x13x0.9x
Mon, 30 Dec 2024€135.2b€146.0b€10.7b14.1x12.6x0.9x
Wed, 27 Nov 2024€135.5b€146.0b€10.7b14.8x12.7x0.9x
Fri, 25 Oct 2024€141.6b€149.6b€10.5b14.4x13.4x0.9x
Sun, 22 Sep 2024€137.6b€149.3b€10.5b14.2x13.1x0.9x
Tue, 20 Aug 2024€131.6b€149.3b€10.5b14x12.5x0.9x
Thu, 18 Jul 2024€131.4b€152.4b€9.7b13.7x13.6x0.9x
Sat, 15 Jun 2024€126.6b€153.0b€9.7b13.1x13.1x0.8x
Mon, 13 May 2024€133.7b€157.7b€9.6b13.4x13.9x0.8x
Wed, 10 Apr 2024€121.1b€168.3b€8.7b14x13.9x0.7x
Fri, 08 Mar 2024€126.4b€179.0b€9.5b15.4x13.3x0.7x
Sun, 04 Feb 2024€126.6b€182.2b€9.3b16.9x13.6x0.7x
Tue, 02 Jan 2024€133.1b€182.2b€9.3b17.4x14.3x0.7x
Thu, 30 Nov 2023€128.6b€182.5b€9.3b16.4x13.8x0.7x
Sat, 28 Oct 2023€117.5b€212.5b€7.6b16x15.5x0.6x
Mon, 25 Sep 2023€122.8b€212.5b€7.6b16.8x16.3x0.6x
Wed, 23 Aug 2023€121.1b€212.5b€7.6b16.5x16x0.6x
Fri, 21 Jul 2023€127.4b€227.9b€6.9b16.5x18.3x0.6x
Sun, 18 Jun 2023€127.8b€227.9b€7.0b16.1x18.4x0.6x
Tue, 16 May 2023€128.0b€227.1b€6.9b16.3x18.6x0.6x
Thu, 13 Apr 2023€126.8b€233.4b€7.1b15.6x17.9x0.5x
Sat, 11 Mar 2023€114.0b€228.1b€6.6b13.3x17.2x0.5x
Mon, 06 Feb 2023€117.1b€225.5b€6.7b13.5x17.4x0.5x
Price to Earnings Ratio

17.4x


Total Market Cap: €117.1bTotal 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 0.84x 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 Market1.11%
Utilities3.14%
Electric Utilities3.92%
Renewable Energy1.98%
Other Utilities1.93%
Gas Utilities1.87%
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 7.9%, 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 7.9% 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€9.252.4%
+€2.2b		34.7%PE15.1x
SRG Snam€5.761.3%
+€254.9m		28.8%PE14.2x
A2A A2A€2.522.3%
+€175.2m		10.7%PE10.8x
TRN Terna€9.060.8%
+€152.5m		13.6%PE16.9x
IG Italgas€10.060.8%
+€76.1m		74.2%PE16x

Latest News

HER
€4.13
Hera
7D
0.7%
1Y
16.9%

HER: Future Outlook Will Remain Supportive With Slightly Softer Margins And Higher Earnings Multiple

Analysts have raised their price target for Hera from €4.35 to €4.52, reflecting updated assumptions of slightly softer revenue contraction, a modestly lower profit margin, and a higher future P/E multiple. Valuation Changes Fair Value Estimate raised from €4.35 to €4.52, indicating a small upward adjustment in the target level.
ACE
€23.24
ACEA
7D
1.1%
1Y
28.0%

ACE: Stable Margins And Refined Assumptions Will Support Fair Value

Analysts have raised their price target for ACEA from €23.68 to €24.24, citing updated assumptions for the discount rate, revenue growth, profit margin and future P/E, which slightly adjust their valuation framework. Valuation Changes Fair Value Estimate: updated from €23.68 to €24.24, representing a small upward adjustment in the target valuation.
A2A
€2.52
A2A
7D
2.3%
1Y
10.7%

A2A: Future Board Milestones And Stable Assumptions Will Support Measured Upside

Analysts have nudged their price target on A2A higher to €2.71 from €2.68, reflecting updated assumptions around revenue growth, profit margins and future P/E multiples. What's in the News A2A has scheduled a board meeting on March 17, 2026 to approve the draft financial statements and the 2025 consolidated financial statements (company event calendar).
SRG
€5.76
Snam
7D
1.3%
1Y
28.8%

SRG: Dividend Policy And Sector Rating Will Support Fairly Valued Shares

Analysts have nudged their fair value estimate for Snam slightly higher to €5.69 from €5.65, in line with a recent Street price target increase on the shares to €5.40, which reflects updated assumptions on discount rate, revenue growth, profit margins and future P/E. Analyst Commentary Bullish Takeaways Bullish analysts see the lift in the fair value estimate to €5.69, alongside the Street price target of €5.40, as support for a valuation that they view as aligned with updated assumptions on discount rate, revenue growth, margins and future P/E.
ERG
€22.30
ERG
7D
-1.8%
1Y
13.9%

ERG: Slight P/E Adjustment Will Sustain Concern Over Stretchy Share Pricing

Analysts have trimmed their price target on ERG by a modest amount, citing slightly higher discount rate and revenue growth assumptions alongside a small adjustment to future P/E expectations. Together, these changes fine tune their valuation rather than signal a major shift in view.
IG
€10.06
Italgas
7D
0.8%
1Y
74.2%
IRE
€2.68
Iren
7D
0.3%
1Y
28.7%

IRE: Hold Downgrade And Tight Assumptions Will Shape A Balanced Outlook

Analysts have trimmed their outlook on Iren, with the latest Street research pointing to a Hold stance and a price target of €2.90. This is slightly above the current fair value estimate of €2.85 and is supported by only marginal tweaks to discount rate, revenue growth, profit margin and future P/E assumptions.
ENEL
€9.25
Enel
7D
2.4%
1Y
34.7%

ENEL: Guidance Upgrade And Neutral Rating Will Shape Medium Term Balance

Analysts have nudged their fair value estimate for Enel to €9.25 per share, bringing it closer to the recent €9.50 Street target and reflecting updated assumptions around discount rate, revenue growth, profit margins and future P/E expectations following the latest research moves. Analyst Commentary Recent research has shifted Enel to a more neutral stance, with a price target of €9.50 sitting slightly above the new €9.25 fair value estimate.
ASC
€3.38
Ascopiave
7D
-0.4%
1Y
21.6%

ASC: Fairly Valued Outlook Will Rely On Upcoming 2026 Board Decisions

Analysts have lifted their price target on Ascopiave to €3.77 from €3.45, reflecting updated views on its fair value, discount rate, revenue growth and profit margin, along with an adjusted future P/E assumption. What's in the News A board meeting is scheduled on Mar 05, 2026 to consider and approve the draft financial statements and consolidated financial statements for the 2025 financial year (Key Developments).
EVISO
€7.56
eVISO
7D
-3.8%
1Y
-5.7%

An Intrinsic Calculation For eVISO S.p.A. (BIT:EVISO) Suggests It's 38% Undervalued

Jan 16
An Intrinsic Calculation For eVISO S.p.A. (BIT:EVISO) Suggests It's 38% Undervalued
TRN
€9.06
Terna
7D
0.8%
1Y
13.6%

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

Jan 13
The Returns At Terna (BIT:TRN) Aren't Growing
AC5
€2.26
Acinque
7D
-0.9%
1Y
8.7%
DEA
€7.85
Distribuzione Elettrica Adriatica
7D
-0.6%
1Y
-0.6%