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Malaysian (KLSE) Utilities Sector Analysis

UpdatedDec 13, 2025
DataAggregated Company Financials
Companies14
  • 7D1.5%
  • 3M-9.6%
  • 1Y-4.5%
  • YTD-13.5%

The Utilities is pretty flat in the last 7 days, but Tenaga Nasional Berhad has stood out, gaining 3.0%. As for the longer term, the industry has declined 5.9% in the last year. Looking forward, earnings are forecast to grow by 7.2% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 13 Dec 2025RM 181.2bRM 144.4bRM 11.9b13.3x15.2x1.3x
Mon, 10 Nov 2025RM 195.8bRM 145.8bRM 12.2b15.2x16x1.3x
Wed, 08 Oct 2025RM 200.7bRM 145.9bRM 12.0b16.2x16.7x1.4x
Fri, 05 Sep 2025RM 193.9bRM 145.9bRM 12.0b15.6x16.1x1.3x
Sun, 03 Aug 2025RM 193.7bRM 148.7bRM 12.8b14.2x15.1x1.3x
Tue, 01 Jul 2025RM 195.2bRM 148.7bRM 12.8b13.6x15.2x1.3x
Thu, 29 May 2025RM 181.1bRM 148.8bRM 12.4b14.8x14.6x1.2x
Sat, 26 Apr 2025RM 177.9bRM 149.2bRM 12.8b14.5x13.9x1.2x
Mon, 24 Mar 2025RM 180.7bRM 149.2bRM 12.8b14.5x14.1x1.2x
Wed, 19 Feb 2025RM 183.1bRM 147.5bRM 12.1b12.4x15.1x1.2x
Fri, 17 Jan 2025RM 184.3bRM 147.5bRM 12.1b12.3x15.2x1.3x
Sun, 15 Dec 2024RM 186.2bRM 147.5bRM 12.1b12.3x15.3x1.3x
Tue, 12 Nov 2024RM 183.3bRM 145.3bRM 11.7b12.1x15.6x1.3x
Thu, 10 Oct 2024RM 193.2bRM 145.3bRM 11.8b12.5x16.4x1.3x
Sat, 07 Sep 2024RM 195.7bRM 145.3bRM 11.8b12.8x16.6x1.3x
Mon, 05 Aug 2024RM 206.7bRM 146.0bRM 10.2b17.9x20.3x1.4x
Wed, 03 Jul 2024RM 215.4bRM 146.0bRM 10.2b18.8x21.2x1.5x
Fri, 31 May 2024RM 212.0bRM 146.2bRM 10.5b18.8x20.3x1.4x
Sun, 28 Apr 2024RM 190.2bRM 147.2bRM 10.0b17.5x19x1.3x
Tue, 26 Mar 2024RM 177.3bRM 147.2bRM 10.0b18x17.8x1.2x
Thu, 22 Feb 2024RM 173.2bRM 149.7bRM 9.4b14.5x18.3x1.2x
Sat, 20 Jan 2024RM 163.5bRM 150.1bRM 9.4b15.1x17.3x1.1x
Mon, 18 Dec 2023RM 148.1bRM 150.1bRM 9.4b11.5x15.7x1x
Wed, 15 Nov 2023RM 141.2bRM 152.9bRM 8.5b11.2x16.5x0.9x
Fri, 13 Oct 2023RM 137.9bRM 152.8bRM 8.5b9.5x16.3x0.9x
Sun, 10 Sep 2023RM 138.1bRM 152.8bRM 8.5b9.4x16.3x0.9x
Tue, 08 Aug 2023RM 127.8bRM 149.0bRM 8.5b9.9x15.1x0.9x
Thu, 06 Jul 2023RM 121.0bRM 149.0bRM 8.5b9.9x14.3x0.8x
Sat, 03 Jun 2023RM 120.9bRM 149.0bRM 8.5b10x14.3x0.8x
Mon, 01 May 2023RM 114.7bRM 145.7bRM 8.5b11x13.6x0.8x
Wed, 29 Mar 2023RM 113.5bRM 145.7bRM 8.5b10.4x13.4x0.8x
Fri, 24 Feb 2023RM 114.8bRM 141.5bRM 8.4b12.2x13.7x0.8x
Sun, 22 Jan 2023RM 114.2bRM 141.0bRM 8.4b12.2x13.6x0.8x
Tue, 20 Dec 2022RM 112.2bRM 141.0bRM 8.4b11.5x13.4x0.8x
Price to Earnings Ratio

13.4x


Total Market Cap: RM 112.2bTotal Earnings: RM 8.4bTotal Revenue: RM 141.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Malaysian Utilities Sector Price to Earnings3Y Average 16x202320242025
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 16.0x.
  • The industry is trading close to its 3-year average PS ratio of 1.1x.
Past Earnings Growth
  • The earnings for companies in the Utilities industry have grown 12% 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 Market0.86%
Utilities1.52%
Electric Utilities3.01%
Gas Utilities2.44%
Other Utilities-0.60%
Water Utilities-1.18%
Renewable Energy-1.27%
Industry PE
  • Investors are most optimistic about the Water Utilities industry even though it's trading below its 3-year average PE ratio of 25.6x.
    • Analysts are expecting annual earnings growth of 19.1%, which is lower than the prior year's growth of 36.7% per year.
  • Investors are most pessimistic about the Other Utilities industry, which is trading close to its 3-year average of 11.0x.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 24% over the next 5 years.
  • This is better than its past earnings decline of 34% per year.
  • In contrast, the Gas Utilities industry is expected to see its earnings grow by 3.4% 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 13.023.0%
+RM 2.2b		-5.1%PE17x
PETGAS PETRONAS Gas BerhadRM 17.702.7%
+RM 910.2m		2.2%PE19.7x
GASMSIA Gas Malaysia BerhadRM 4.211.0%
+RM 51.4m		1.4%PE13.3x
MALAKOF Malakoff Corporation BerhadRM 0.850.6%
+RM 24.4m		9.6%PE43.6x

Latest News

YTLPOWR
RM 3.29
YTL Power International Berhad
7D
-0.3%
1Y
-10.8%

YTL Power International Berhad's (KLSE:YTLPOWR) Sluggish Earnings Might Be Just The Beginning Of Its Problems

Dec 04
YTL Power International Berhad's (KLSE:YTLPOWR) Sluggish Earnings Might Be Just The Beginning Of Its Problems
MALAKOF
RM 0.85
Malakoff Corporation Berhad
7D
0.6%
1Y
9.6%
TENAGA
RM 13.02
Tenaga Nasional Berhad
7D
3.0%
1Y
-5.1%

TENAGA: Resolution Of Tax Disputes Will Support Future Share Price Momentum

Analysts have revised their price target for Tenaga Nasional Berhad slightly downward from RM16.16 to RM15.95. This adjustment reflects updated estimates for profit margin and discount rates, even though there are expectations for stronger revenue growth.
RANHILL
RM 1.71
Ranhill Utilities Berhad
7D
-1.2%
1Y
22.1%
EDEN
RM 0.17
Eden Berhad
7D
-5.6%
1Y
6.3%
PETGAS
RM 17.70
PETRONAS Gas Berhad
7D
2.7%
1Y
2.2%
SALCON
RM 0.23
Salcon Berhad
7D
-4.2%
1Y
-16.4%
YTL
RM 2.11
YTL Corporation Berhad
7D
-0.9%
1Y
-2.8%

This Is The Reason Why We Think YTL Corporation Berhad's (KLSE:YTL) CEO Might Be Underpaid

Nov 27
This Is The Reason Why We Think YTL Corporation Berhad's (KLSE:YTL) CEO Might Be Underpaid
PUNCAK
RM 0.21
Puncak Niaga Holdings Berhad
7D
-6.5%
1Y
-10.4%
PBA
RM 1.88
PBA Holdings Bhd
7D
-1.1%
1Y
-17.2%

Investors Shouldn't Be Too Comfortable With PBA Holdings Bhd's (KLSE:PBA) Earnings

Nov 26
Investors Shouldn't Be Too Comfortable With PBA Holdings Bhd's (KLSE:PBA) Earnings
GASMSIA
RM 4.21
Gas Malaysia Berhad
7D
1.0%
1Y
1.4%

We Like Gas Malaysia Berhad's (KLSE:GASMSIA) Returns And Here's How They're Trending

Nov 24
We Like Gas Malaysia Berhad's (KLSE:GASMSIA) Returns And Here's How They're Trending
MFCB
RM 3.23
Mega First Corporation Berhad
7D
-3.6%
1Y
-26.8%