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Malaysian (KLSE) Utilities Sector Analysis

UpdatedApr 09, 2026
DataAggregated Company Financials
Companies14
  • 7D3.3%
  • 3M2.4%
  • 1Y13.8%
  • YTD1.8%

In the last week, the Utilities industry is up 3.3%, with YTL Power International Berhad up 17%. In the last 12 months, the industry was up 14%. Looking forward, earnings are forecast to grow by 8.2% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 09 Apr 2026RM 189.7bRM 142.8bRM 11.7b14.2x16.3x1.3x
Sat, 07 Mar 2026RM 179.9bRM 142.8bRM 11.7b14.9x15.4x1.3x
Mon, 02 Feb 2026RM 187.0bRM 144.4bRM 11.9b13.7x15.7x1.3x
Wed, 31 Dec 2025RM 187.5bRM 144.4bRM 11.9b13.8x15.7x1.3x
Fri, 28 Nov 2025RM 187.0bRM 145.5bRM 12.2b13.3x15.3x1.3x
Sun, 26 Oct 2025RM 196.1bRM 145.9bRM 12.0b15.9x16.3x1.3x
Tue, 23 Sep 2025RM 200.0bRM 145.9bRM 12.0b15.9x16.6x1.4x
Thu, 21 Aug 2025RM 201.3bRM 148.7bRM 12.8b14.6x15.7x1.4x
Sat, 19 Jul 2025RM 196.5bRM 148.7bRM 12.8b14.1x15.3x1.3x
Mon, 16 Jun 2025RM 190.0bRM 148.7bRM 12.8b12.9x14.8x1.3x
Wed, 14 May 2025RM 190.3bRM 149.2bRM 12.8b15.2x14.9x1.3x
Fri, 11 Apr 2025RM 170.1bRM 149.2bRM 12.8b13.9x13.3x1.1x
Sun, 09 Mar 2025RM 175.9bRM 149.2bRM 12.8b14.5x13.8x1.2x
Tue, 04 Feb 2025RM 176.8bRM 147.5bRM 12.1b12.4x14.6x1.2x
Thu, 02 Jan 2025RM 206.3bRM 147.5bRM 12.1b15.1x17x1.4x
Sat, 30 Nov 2024RM 183.6bRM 147.5bRM 12.1b12.8x15.1x1.2x
Mon, 28 Oct 2024RM 182.6bRM 145.3bRM 11.8b12.5x15.5x1.3x
Wed, 25 Sep 2024RM 203.3bRM 145.3bRM 11.8b13.8x17.2x1.4x
Fri, 23 Aug 2024RM 203.7bRM 144.3bRM 10.1b18.1x20.2x1.4x
Sun, 21 Jul 2024RM 216.7bRM 146.0bRM 10.2b18.9x21.3x1.5x
Tue, 18 Jun 2024RM 217.2bRM 146.0bRM 10.2b18.7x21.4x1.5x
Thu, 16 May 2024RM 206.0bRM 147.2bRM 10.0b19.4x20.6x1.4x
Sat, 13 Apr 2024RM 179.6bRM 147.2bRM 10.0b18x18x1.2x
Mon, 11 Mar 2024RM 172.9bRM 147.2bRM 10.0b17.8x17.3x1.2x
Wed, 07 Feb 2024RM 168.6bRM 150.1bRM 9.4b14.1x17.9x1.1x
Fri, 05 Jan 2024RM 157.2bRM 150.1bRM 9.4b14x16.7x1x
Sun, 03 Dec 2023RM 140.1bRM 150.1bRM 9.4b10.4x14.9x0.9x
Tue, 31 Oct 2023RM 135.9bRM 152.8bRM 8.5b9.8x16x0.9x
Thu, 28 Sep 2023RM 138.1bRM 152.8bRM 8.5b9.4x16.3x0.9x
Sat, 26 Aug 2023RM 135.4bRM 155.5bRM 9.4b10.2x14.4x0.9x
Mon, 24 Jul 2023RM 122.6bRM 149.0bRM 8.5b9.8x14.5x0.8x
Wed, 21 Jun 2023RM 119.0bRM 149.0bRM 8.5b9.9x14x0.8x
Fri, 19 May 2023RM 120.5bRM 145.7bRM 8.5b10.5x14.2x0.8x
Sun, 16 Apr 2023RM 115.2bRM 145.7bRM 8.5b10.6x13.6x0.8x
Price to Earnings Ratio

13.6x


Total Market Cap: RM 115.2bTotal 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 3-year average PS ratio of 1.2x 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 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 Market0.03%
Utilities3.25%
Other Utilities14.52%
Water Utilities2.92%
Renewable Energy1.74%
Electric Utilities-0.14%
Gas Utilities-2.21%
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 4.7%, which is higher than its past year's earnings decline of 9.7% 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 11.6x.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 27% 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 4.7% 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
YTLPOWR YTL Power International BerhadRM 3.6012.5%
+RM 3.5b		18.4%PE13.9x
YTL YTL Corporation BerhadRM 1.9410.9%
+RM 2.2b		9.0%PE12.4x
TENAGA Tenaga Nasional BerhadRM 14.120.9%
+RM 699.5m		6.2%PE17.3x
PETGAS PETRONAS Gas BerhadRM 18.200.9%
+RM 316.6m		13.2%PE20.9x
MALAKOF Malakoff Corporation BerhadRM 0.835.0%
+RM 195.5m		6.4%PE99.9x

Latest News

YTL
RM 1.94
YTL Corporation Berhad
7D
10.9%
1Y
9.0%
YTLPOWR
RM 3.60
YTL Power International Berhad
7D
12.5%
1Y
18.4%
MFCB
RM 2.83
Mega First Corporation Berhad
7D
-2.4%
1Y
-26.5%

MFCB: Future Dividend Payout Will Support My Positive Long Term View

Analysts have trimmed their MYR fair value estimate for Mega First Corporation Berhad from about MYR4.81 to roughly MYR4.17, citing updated assumptions around revenue growth, profit margins, and the P/E multiple applied to future earnings. What's in the News Mega First Corporation Berhad declared a second and final dividend of MYR 0.05 per share for the financial year ended 31 December 2025, giving investors clear visibility on the upcoming payout schedule (company announcement).
MALAKOF
RM 0.83
Malakoff Corporation Berhad
7D
5.0%
1Y
6.4%
GASMSIA
RM 5.59
Gas Malaysia Berhad
7D
-5.6%
1Y
44.1%
PETGAS
RM 18.20
PETRONAS Gas Berhad
7D
0.9%
1Y
13.2%
TENAGA
RM 14.12
Tenaga Nasional Berhad
7D
0.9%
1Y
6.2%
PBA
RM 1.83
PBA Holdings Bhd
7D
0.5%
1Y
-5.2%
SALCON
RM 0.23
Salcon Berhad
7D
-2.1%
1Y
-23.3%
RANHILL
RM 1.75
Ranhill Utilities Berhad
7D
3.6%
1Y
48.3%
TALIWRK
RM 0.41
Taliworks Corporation Berhad
7D
7.8%
1Y
-35.7%
GENERGY
RM 0.65
Wasco Greenergy Berhad
7D
-4.4%
1Y
n/a