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Malaysian (KLSE) Utilities Sector Analysis

UpdatedApr 21, 2026
DataAggregated Company Financials
Companies14
  • 7D0.2%
  • 3M0.9%
  • 1Y7.7%
  • YTD3.1%

In the last week, the Utilities industry is flat overall, with Gas Malaysia Berhad standing out by going down 7.1%. As for the the longer term, the industry is up 8.0% over the past 12 months. As for the next few years, earnings are expected to grow by 8.3% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 21 Apr 2026RM 192.2bRM 142.8bRM 11.7b14.1x16.5x1.3x
Thu, 19 Mar 2026RM 182.4bRM 142.8bRM 11.7b14.2x15.6x1.3x
Sat, 14 Feb 2026RM 183.9bRM 144.5bRM 11.9b14x15.4x1.3x
Mon, 12 Jan 2026RM 185.4bRM 144.4bRM 11.9b13.7x15.5x1.3x
Wed, 10 Dec 2025RM 177.4bRM 144.2bRM 11.9b12.8x14.9x1.2x
Fri, 07 Nov 2025RM 195.4bRM 145.8bRM 12.2b15.3x16x1.3x
Sun, 05 Oct 2025RM 202.7bRM 145.9bRM 12.0b16.4x16.9x1.4x
Tue, 02 Sep 2025RM 195.4bRM 145.9bRM 12.0b15.9x16.3x1.3x
Thu, 31 Jul 2025RM 193.6bRM 148.7bRM 12.8b14.2x15.1x1.3x
Sat, 28 Jun 2025RM 193.4bRM 148.7bRM 12.8b13.3x15.1x1.3x
Mon, 26 May 2025RM 183.2bRM 149.0bRM 12.5b15.1x14.7x1.2x
Wed, 23 Apr 2025RM 173.4bRM 149.2bRM 12.8b14.3x13.6x1.2x
Fri, 21 Mar 2025RM 180.0bRM 149.2bRM 12.8b14.5x14.1x1.2x
Sun, 16 Feb 2025RM 185.8bRM 147.5bRM 12.1b12.5x15.3x1.3x
Tue, 14 Jan 2025RM 192.6bRM 147.0bRM 12.1b12.9x15.9x1.3x
Thu, 12 Dec 2024RM 184.8bRM 147.5bRM 12.1b12.1x15.2x1.3x
Sat, 09 Nov 2024RM 185.1bRM 145.3bRM 11.7b12.1x15.8x1.3x
Mon, 07 Oct 2024RM 192.7bRM 145.3bRM 11.8b12.5x16.3x1.3x
Wed, 04 Sep 2024RM 207.1bRM 145.3bRM 11.8b15.6x17.6x1.4x
Fri, 02 Aug 2024RM 210.9bRM 146.0bRM 10.2b18.2x20.7x1.4x
Sun, 30 Jun 2024RM 210.0bRM 146.0bRM 10.2b18.4x20.7x1.4x
Tue, 28 May 2024RM 211.5bRM 146.3bRM 10.3b18.9x20.6x1.4x
Thu, 25 Apr 2024RM 183.5bRM 147.2bRM 10.0b17.5x18.4x1.2x
Sat, 23 Mar 2024RM 178.3bRM 147.2bRM 10.0b18.1x17.9x1.2x
Mon, 19 Feb 2024RM 170.9bRM 150.1bRM 9.4b14.5x18.1x1.1x
Wed, 17 Jan 2024RM 165.5bRM 150.1bRM 9.4b15.1x17.5x1.1x
Fri, 15 Dec 2023RM 144.5bRM 150.1bRM 9.4b10.8x15.3x1x
Sun, 12 Nov 2023RM 140.2bRM 152.9bRM 8.5b11.5x16.4x0.9x
Tue, 10 Oct 2023RM 136.5bRM 152.8bRM 8.5b9.4x16.1x0.9x
Thu, 07 Sep 2023RM 138.2bRM 152.8bRM 8.5b9.4x16.3x0.9x
Sat, 05 Aug 2023RM 127.7bRM 149.0bRM 8.5b9.8x15.1x0.9x
Mon, 03 Jul 2023RM 119.9bRM 149.0bRM 8.5b9.8x14.1x0.8x
Wed, 31 May 2023RM 122.3bRM 149.0bRM 8.5b10.3x14.4x0.8x
Fri, 28 Apr 2023RM 114.9bRM 145.7bRM 8.5b10.9x13.6x0.8x
Price to Earnings Ratio

13.6x


Total Market Cap: RM 114.9bTotal Earnings: RM 8.5bTotal Revenue: RM 145.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Malaysian Utilities Sector Price to Earnings3Y Average 16.3x202420252026
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 16.3x.
  • 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 Market1.47%
Utilities0.17%
Renewable Energy1.83%
Electric Utilities1.55%
Water Utilities-0.24%
Other Utilities-0.27%
Gas Utilities-2.15%
Industry PE
  • Investors are most optimistic about the Gas Utilities industry which is trading above its 3-year average PE ratio of 18.2x.
    • 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 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 4.7% 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
TENAGA Tenaga Nasional BerhadRM 14.401.6%
+RM 1.3b		6.8%PE17.6x
MALAKOF Malakoff Corporation BerhadRM 0.853.0%
+RM 122.2m		8.9%PE102.3x
YTLPOWR YTL Power International BerhadRM 3.660.3%
+RM 87.7m		12.3%PE14.1x
PBA PBA Holdings BhdRM 1.873.3%
+RM 19.9m		-6.0%PE5.4x
MFCB Mega First Corporation BerhadRM 2.920.3%
+RM 9.4m		-25.3%PE7.1x

Latest News

GASMSIA
RM 5.13
Gas Malaysia Berhad
7D
-7.1%
1Y
26.4%
GENERGY
RM 0.64
Wasco Greenergy Berhad
7D
-0.8%
1Y
n/a
MFCB
RM 2.92
Mega First Corporation Berhad
7D
0.3%
1Y
-25.3%

MFCB: Upcoming Dividend Timeline Will Support A Positive Long Term View

Analysts kept their fair value estimate for Mega First Corporation Berhad steady at MYR4.17, with only minor tweaks to the discount rate, revenue growth, profit margin and future P/E assumptions reflected in the updated price target rationale. What's in the News Mega First Corporation Berhad declared a second and final dividend of MYR0.05 per share for the financial year ended 31 December 2025, giving investors visibility on the latest proposed cash payout (Key Developments).
MALAKOF
RM 0.85
Malakoff Corporation Berhad
7D
3.0%
1Y
8.9%

Malakoff Corporation Berhad's (KLSE:MALAKOF) Conservative Accounting Might Explain Soft Earnings

Apr 09
Malakoff Corporation Berhad's (KLSE:MALAKOF) Conservative Accounting Might Explain Soft Earnings
YTL
RM 1.94
YTL Corporation Berhad
7D
-1.0%
1Y
6.0%
YTLPOWR
RM 3.66
YTL Power International Berhad
7D
0.3%
1Y
12.3%
PETGAS
RM 18.22
PETRONAS Gas Berhad
7D
-1.2%
1Y
7.8%
TENAGA
RM 14.40
Tenaga Nasional Berhad
7D
1.6%
1Y
6.8%
PBA
RM 1.87
PBA Holdings Bhd
7D
3.3%
1Y
-6.0%
EDEN
RM 0.15
Eden Berhad
7D
3.4%
1Y
3.4%
RANHILL
RM 1.80
Ranhill Utilities Berhad
7D
-0.6%
1Y
48.8%
PUNCAK
RM 0.18
Puncak Niaga Holdings Berhad
7D
-7.5%
1Y
-5.1%
TALIWRK
RM 0.41
Taliworks Corporation Berhad
7D
-1.2%
1Y
-35.7%