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Malaysian (KLSE) Utilities Sector Analysis

UpdatedMar 08, 2026
DataAggregated Company Financials
Companies14
  • 7D-1.5%
  • 3M1.5%
  • 1Y0.6%
  • YTD-3.5%

Over the last 7 days, the Utilities industry has dropped 1.5%, driven by a pullback from YTL Corporation Berhad of 6.0%. Over the last year, the industry has been flat overall. Earnings are forecast to grow by 7.8% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 08 Mar 2026RM 179.9bRM 142.8bRM 11.7b14.9x15.4x1.3x
Tue, 03 Feb 2026RM 187.0bRM 144.4bRM 11.9b13.7x15.7x1.3x
Thu, 01 Jan 2026RM 185.5bRM 144.4bRM 11.9b13.8x15.5x1.3x
Sat, 29 Nov 2025RM 181.6bRM 144.5bRM 12.3b12.9x14.8x1.3x
Mon, 27 Oct 2025RM 196.1bRM 145.9bRM 12.0b15.9x16.3x1.3x
Wed, 24 Sep 2025RM 200.4bRM 145.9bRM 12.0b15.9x16.7x1.4x
Fri, 22 Aug 2025RM 202.8bRM 148.7bRM 12.8b14.7x15.8x1.4x
Sun, 20 Jul 2025RM 196.5bRM 148.7bRM 12.8b14.1x15.3x1.3x
Tue, 17 Jun 2025RM 190.1bRM 148.7bRM 12.8b12.9x14.8x1.3x
Thu, 15 May 2025RM 191.1bRM 149.2bRM 12.8b15.2x15x1.3x
Sat, 12 Apr 2025RM 169.6bRM 149.2bRM 12.8b14.1x13.3x1.1x
Mon, 10 Mar 2025RM 175.9bRM 149.2bRM 12.8b14.5x13.8x1.2x
Wed, 05 Feb 2025RM 176.5bRM 147.5bRM 12.1b12.4x14.5x1.2x
Fri, 03 Jan 2025RM 205.4bRM 147.5bRM 12.1b15x16.9x1.4x
Sun, 01 Dec 2024RM 183.6bRM 147.5bRM 12.1b12.8x15.1x1.2x
Tue, 29 Oct 2024RM 180.2bRM 145.3bRM 11.8b12.4x15.3x1.2x
Thu, 26 Sep 2024RM 202.6bRM 145.3bRM 11.8b13.7x17.2x1.4x
Sat, 24 Aug 2024RM 201.8bRM 144.4bRM 10.1b18.2x20x1.4x
Mon, 22 Jul 2024RM 216.7bRM 146.0bRM 10.2b18.9x21.3x1.5x
Wed, 19 Jun 2024RM 213.8bRM 146.0bRM 10.2b18.5x21x1.5x
Fri, 17 May 2024RM 208.1bRM 147.2bRM 10.0b19.5x20.8x1.4x
Sun, 14 Apr 2024RM 179.6bRM 147.2bRM 10.0b18x18x1.2x
Tue, 12 Mar 2024RM 172.7bRM 147.2bRM 10.0b17.7x17.3x1.2x
Thu, 08 Feb 2024RM 170.7bRM 150.1bRM 9.4b14.3x18.1x1.1x
Sat, 06 Jan 2024RM 161.3bRM 150.1bRM 9.4b14.5x17.1x1.1x
Mon, 04 Dec 2023RM 140.1bRM 150.1bRM 9.4b10.4x14.9x0.9x
Wed, 01 Nov 2023RM 137.8bRM 152.8bRM 8.5b9.9x16.3x0.9x
Fri, 29 Sep 2023RM 138.1bRM 152.8bRM 8.5b9.4x16.3x0.9x
Sun, 27 Aug 2023RM 135.4bRM 152.7bRM 8.9b10.2x15.2x0.9x
Tue, 25 Jul 2023RM 124.2bRM 149.0bRM 8.5b9.9x14.7x0.8x
Thu, 22 Jun 2023RM 118.9bRM 149.0bRM 8.5b9.8x14x0.8x
Sat, 20 May 2023RM 121.8bRM 146.4bRM 8.5b10.3x14.3x0.8x
Mon, 17 Apr 2023RM 115.2bRM 145.7bRM 8.5b10.6x13.6x0.8x
Wed, 15 Mar 2023RM 112.3bRM 145.7bRM 8.5b10.3x13.3x0.8x
Price to Earnings Ratio

13.3x


Total Market Cap: RM 112.3bTotal Earnings: RM 8.5bTotal Revenue: RM 145.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Malaysian Utilities Sector Price to Earnings3Y Average 16.2x202420252026
Current Industry PE
  • Investors are relatively neutral on the Malaysian 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 16.2x.
  • The industry is trading close to its 3-year average PS ratio of 1.2x.
Past Earnings Growth
  • The earnings for companies in the Utilities industry have grown 11% 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 Malaysian Utilities sector?

MY Market-1.06%
Utilities-1.54%
Gas Utilities1.50%
Electric Utilities-1.25%
Renewable Energy-1.87%
Water Utilities-2.82%
Other Utilities-4.67%
Industry PE
  • Investors are most optimistic about the Gas Utilities industry which is trading above its 3-year average PE ratio of 18.1x.
    • Analysts are expecting annual earnings growth of 4.8%, which is higher than its past year's earnings decline of 9.7% per year.
  • Investors are most pessimistic about the Other Utilities industry, which is trading close to its 3-year average of 11.4x.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 26% over the next 5 years.
  • This is better than its past earnings decline of 49% per year.
  • In contrast, the Gas Utilities industry is expected to see its earnings grow by 4.8% per year over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
PETGAS PETRONAS Gas BerhadRM 18.141.0%
+RM 356.2m		7.5%PE20.8x
GASMSIA Gas Malaysia BerhadRM 5.014.4%
+RM 269.6m		21.3%PE16.9x
GENERGY Wasco Greenergy BerhadRM 0.681.5%
+RM 5.0m		n/aPE14.9x

Latest News

MFCB
RM 3.00
Mega First Corporation Berhad
7D
-2.9%
1Y
-27.0%

MFCB: Future P/E Repricing Will Support A Stronger Bullish Outlook

Narrative Update on Mega First Corporation Berhad The analyst price target for Mega First Corporation Berhad has been adjusted from MYR5.80 to MYR5.39 as analysts update their assumptions for revenue growth, profit margins, and future P/E expectations. Valuation Changes Fair Value: trimmed from MYR5.80 to MYR5.39, indicating a modest reduction in the implied valuation per share.
PBA
RM 1.85
PBA Holdings Bhd
7D
-6.1%
1Y
-6.1%
TENAGA
RM 14.20
Tenaga Nasional Berhad
7D
-1.3%
1Y
3.3%
RANHILL
RM 1.73
Ranhill Utilities Berhad
7D
-0.6%
1Y
35.2%
YTLPOWR
RM 2.73
YTL Power International Berhad
7D
-3.5%
1Y
-11.1%
YTL
RM 1.73
YTL Corporation Berhad
7D
-6.0%
1Y
-4.4%
PETGAS
RM 18.14
PETRONAS Gas Berhad
7D
1.0%
1Y
7.5%
GASMSIA
RM 5.01
Gas Malaysia Berhad
7D
4.4%
1Y
21.3%
TALIWRK
RM 0.42
Taliworks Corporation Berhad
7D
-6.6%
1Y
-41.4%
GENERGY
RM 0.68
Wasco Greenergy Berhad
7D
1.5%
1Y
n/a
MALAKOF
RM 0.78
Malakoff Corporation Berhad
7D
-1.3%
1Y
-5.5%