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Malaysian (KLSE) Utilities Sector Analysis

UpdatedJan 09, 2026
DataAggregated Company Financials
Companies14
  • 7D-0.2%
  • 3M-7.7%
  • 1Y-8.2%
  • YTD-0.6%

In the last week, Utilities has been flat. As for the longer term, the industry has declined 8.2% in the last year. As for the next few years, earnings are expected to grow by 7.5% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 10 Jan 2026RM 185.2bRM 144.4bRM 11.9b13.7x15.5x1.3x
Mon, 08 Dec 2025RM 178.0bRM 144.2bRM 11.9b12.9x14.9x1.2x
Wed, 05 Nov 2025RM 196.0bRM 145.8bRM 12.2b15.4x16x1.3x
Fri, 03 Oct 2025RM 204.1bRM 145.9bRM 12.0b16x17x1.4x
Sun, 31 Aug 2025RM 195.4bRM 145.9bRM 12.1b15.9x16.2x1.3x
Tue, 29 Jul 2025RM 194.4bRM 148.7bRM 12.8b14.2x15.2x1.3x
Thu, 26 Jun 2025RM 190.0bRM 148.7bRM 12.8b12.9x14.8x1.3x
Sat, 24 May 2025RM 183.2bRM 149.1bRM 12.5b15x14.7x1.2x
Mon, 21 Apr 2025RM 175.4bRM 149.2bRM 12.8b14.3x13.7x1.2x
Wed, 19 Mar 2025RM 177.5bRM 149.2bRM 12.8b14.5x13.9x1.2x
Fri, 14 Feb 2025RM 185.6bRM 147.5bRM 12.1b12.5x15.3x1.3x
Sun, 12 Jan 2025RM 198.3bRM 147.5bRM 12.1b14.1x16.3x1.3x
Tue, 10 Dec 2024RM 187.4bRM 147.5bRM 12.1b12.7x15.4x1.3x
Thu, 07 Nov 2024RM 188.3bRM 145.3bRM 11.7b12.1x16x1.3x
Sat, 05 Oct 2024RM 192.7bRM 145.3bRM 11.8b12.5x16.3x1.3x
Mon, 02 Sep 2024RM 203.3bRM 145.3bRM 11.8b14.9x17.2x1.4x
Wed, 31 Jul 2024RM 210.6bRM 146.0bRM 10.2b18.4x20.7x1.4x
Fri, 28 Jun 2024RM 210.1bRM 146.0bRM 10.2b18.3x20.7x1.4x
Sun, 26 May 2024RM 210.1bRM 146.3bRM 10.3b19x20.4x1.4x
Tue, 23 Apr 2024RM 180.3bRM 147.2bRM 10.0b17.4x18.1x1.2x
Thu, 21 Mar 2024RM 178.1bRM 147.2bRM 10.0b18.4x17.8x1.2x
Sat, 17 Feb 2024RM 170.9bRM 150.1bRM 9.4b14.5x18.1x1.1x
Mon, 15 Jan 2024RM 165.5bRM 150.1bRM 9.4b13.8x17.5x1.1x
Wed, 13 Dec 2023RM 144.7bRM 150.1bRM 9.4b10.7x15.3x1x
Fri, 10 Nov 2023RM 140.6bRM 152.9bRM 8.5b11.5x16.5x0.9x
Sun, 08 Oct 2023RM 135.4bRM 152.8bRM 8.5b9.4x16x0.9x
Tue, 05 Sep 2023RM 137.8bRM 152.8bRM 8.5b9.4x16.3x0.9x
Thu, 03 Aug 2023RM 126.8bRM 149.0bRM 8.5b9.9x15x0.9x
Sat, 01 Jul 2023RM 119.9bRM 149.0bRM 8.5b9.8x14.1x0.8x
Mon, 29 May 2023RM 121.6bRM 148.2bRM 8.4b10.2x14.5x0.8x
Wed, 26 Apr 2023RM 115.7bRM 145.7bRM 8.5b11.2x13.7x0.8x
Fri, 24 Mar 2023RM 114.7bRM 145.7bRM 8.5b10.4x13.6x0.8x
Sun, 19 Feb 2023RM 117.1bRM 141.5bRM 8.4b12.1x14x0.8x
Tue, 17 Jan 2023RM 113.7bRM 141.0bRM 8.4b12.1x13.6x0.8x
Price to Earnings Ratio

13.6x


Total Market Cap: RM 113.7bTotal Earnings: RM 8.4bTotal Revenue: RM 141.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Malaysian Utilities Sector Price to Earnings3Y Average 16.1x202420252026
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 16.1x.
  • The 3-year average PS ratio of 1.1x 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 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 Market0.68%
Utilities-0.19%
Renewable Energy2.32%
Water Utilities1.09%
Other Utilities0.50%
Gas Utilities0.22%
Electric Utilities-1.17%
Industry PE
  • Investors are most optimistic about the Water Utilities industry even though it's trading below its 3-year average PE ratio of 25.7x.
    • Analysts are expecting annual earnings growth of 19.4%, 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 11.2x.
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 4.0% 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 18.300.5%
+RM 197.9m		3.7%PE20.3x
MFCB Mega First Corporation BerhadRM 3.453.0%
+RM 94.2m		-25.0%PE7.9x
YTLPOWR YTL Power International BerhadRM 3.340.3%
+RM 86.3m		-21.4%PE11.2x
RANHILL Ranhill Utilities BerhadRM 1.742.4%
+RM 51.8m		17.6%PE44.7x
PBA PBA Holdings BhdRM 1.912.1%
+RM 13.2m		-11.2%PE4.4x

Latest News

PETGAS
RM 18.30
PETRONAS Gas Berhad
7D
0.5%
1Y
3.7%

Is PETRONAS Gas Berhad (KLSE:PETGAS) Using Too Much Debt?

Jan 07
Is PETRONAS Gas Berhad (KLSE:PETGAS) Using Too Much Debt?
GASMSIA
RM 4.35
Gas Malaysia Berhad
7D
-0.2%
1Y
0%
MFCB
RM 3.45
Mega First Corporation Berhad
7D
3.0%
1Y
-25.0%

MFCB: Stable Fair Value Will Balance Dividend Appeal And Softer Earnings Outlook

Analysts have maintained their fair value estimate for Mega First Corporation Berhad at RM3.42. They cite only very small adjustments to assumptions for discount rate, revenue growth, profit margin and future P/E, which they consider too minor to warrant a change in the target price.
RANHILL
RM 1.74
Ranhill Utilities Berhad
7D
2.4%
1Y
17.6%
TENAGA
RM 13.56
Tenaga Nasional Berhad
7D
-1.6%
1Y
-3.8%

Is Tenaga Nasional Berhad (KLSE:TENAGA) Trading At A 29% Discount?

Dec 31
Is Tenaga Nasional Berhad (KLSE:TENAGA) Trading At A 29% Discount?
GENERGY
RM 0.78
Wasco Greenergy Berhad
7D
1.3%
1Y
n/a
YTLPOWR
RM 3.34
YTL Power International Berhad
7D
0.3%
1Y
-21.4%

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 0.82
Malakoff Corporation Berhad
7D
-1.2%
1Y
-10.4%
SALCON
RM 0.24
Salcon Berhad
7D
-2.0%
1Y
-11.1%
PUNCAK
RM 0.23
Puncak Niaga Holdings Berhad
7D
7.1%
1Y
-4.3%
PBA
RM 1.91
PBA Holdings Bhd
7D
2.1%
1Y
-11.2%

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
TALIWRK
RM 0.49
Taliworks Corporation Berhad
7D
-1.0%
1Y
-38.8%

We Like The Quality Of Taliworks Corporation Berhad's (KLSE:TALIWRK) Earnings

Nov 26
We Like The Quality Of Taliworks Corporation Berhad's (KLSE:TALIWRK) Earnings