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Malaysian (KLSE) Utilities Sector Analysis
UpdatedJan 19, 2026
DataAggregated Company Financials
Companies14
- 7D3.6%
- 3M-2.2%
- 1Y0.5%
- YTD3.1%
In the last week, the Utilities industry is up 3.6%, with YTL Corporation Berhad up 10%. The industry has been flat over the past 12 months despite the gain this week. As for the next few years, earnings are expected to grow by 7.6% per annum.
Sector Valuation and Performance
Has the Malaysian Utilities Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Mon, 19 Jan 2026 | RM 192.1b | RM 144.4b | RM 11.9b | 13.9x | 16.1x | 1.3x |
| Wed, 17 Dec 2025 | RM 182.8b | RM 144.4b | RM 11.9b | 13.3x | 15.3x | 1.3x |
| Fri, 14 Nov 2025 | RM 195.4b | RM 145.8b | RM 12.2b | 15.4x | 16x | 1.3x |
| Sun, 12 Oct 2025 | RM 200.1b | RM 145.9b | RM 12.0b | 16.1x | 16.7x | 1.4x |
| Tue, 09 Sep 2025 | RM 196.6b | RM 145.9b | RM 12.0b | 15.7x | 16.4x | 1.3x |
| Thu, 07 Aug 2025 | RM 195.0b | RM 148.7b | RM 12.8b | 14.2x | 15.2x | 1.3x |
| Sat, 05 Jul 2025 | RM 197.5b | RM 148.7b | RM 12.8b | 13.9x | 15.4x | 1.3x |
| Mon, 02 Jun 2025 | RM 180.4b | RM 148.7b | RM 12.8b | 12.7x | 14.1x | 1.2x |
| Wed, 30 Apr 2025 | RM 178.4b | RM 149.2b | RM 12.8b | 14.6x | 14x | 1.2x |
| Fri, 28 Mar 2025 | RM 180.5b | RM 149.2b | RM 12.8b | 14.6x | 14.1x | 1.2x |
| Sun, 23 Feb 2025 | RM 181.6b | RM 148.5b | RM 12.5b | 13.5x | 14.6x | 1.2x |
| Tue, 21 Jan 2025 | RM 189.6b | RM 147.5b | RM 12.1b | 12.6x | 15.6x | 1.3x |
| Thu, 19 Dec 2024 | RM 187.8b | RM 147.5b | RM 12.1b | 12.4x | 15.5x | 1.3x |
| Sat, 16 Nov 2024 | RM 182.8b | RM 145.3b | RM 11.7b | 12.2x | 15.6x | 1.3x |
| Mon, 14 Oct 2024 | RM 194.2b | RM 145.3b | RM 11.8b | 12.6x | 16.5x | 1.3x |
| Wed, 11 Sep 2024 | RM 193.4b | RM 145.3b | RM 11.8b | 12.4x | 16.4x | 1.3x |
| Fri, 09 Aug 2024 | RM 203.9b | RM 146.0b | RM 10.2b | 17.8x | 20.1x | 1.4x |
| Sun, 07 Jul 2024 | RM 220.7b | RM 146.0b | RM 10.2b | 19.3x | 21.7x | 1.5x |
| Tue, 04 Jun 2024 | RM 208.0b | RM 146.3b | RM 10.5b | 17.9x | 19.9x | 1.4x |
| Thu, 02 May 2024 | RM 192.7b | RM 147.2b | RM 10.0b | 18.1x | 19.3x | 1.3x |
| Sat, 30 Mar 2024 | RM 176.7b | RM 147.2b | RM 10.0b | 18.1x | 17.7x | 1.2x |
| Mon, 26 Feb 2024 | RM 176.4b | RM 150.6b | RM 10.2b | 14.4x | 17.2x | 1.2x |
| Wed, 24 Jan 2024 | RM 166.7b | RM 150.1b | RM 9.4b | 14.6x | 17.7x | 1.1x |
| Fri, 22 Dec 2023 | RM 147.8b | RM 150.1b | RM 9.4b | 11x | 15.7x | 1x |
| Sun, 19 Nov 2023 | RM 143.0b | RM 153.1b | RM 8.5b | 11.1x | 16.8x | 0.9x |
| Tue, 17 Oct 2023 | RM 137.8b | RM 152.8b | RM 8.5b | 9.4x | 16.3x | 0.9x |
| Thu, 14 Sep 2023 | RM 137.5b | RM 152.8b | RM 8.5b | 9.3x | 16.2x | 0.9x |
| Sat, 12 Aug 2023 | RM 129.3b | RM 149.0b | RM 8.5b | 10x | 15.3x | 0.9x |
| Mon, 10 Jul 2023 | RM 120.3b | RM 149.0b | RM 8.5b | 9.8x | 14.2x | 0.8x |
| Wed, 07 Jun 2023 | RM 119.6b | RM 149.0b | RM 8.5b | 10x | 14.1x | 0.8x |
| Fri, 05 May 2023 | RM 115.4b | RM 145.7b | RM 8.5b | 11x | 13.7x | 0.8x |
| Sun, 02 Apr 2023 | RM 113.7b | RM 145.7b | RM 8.5b | 10.4x | 13.4x | 0.8x |
| Tue, 28 Feb 2023 | RM 114.9b | RM 141.9b | RM 8.7b | 10.7x | 13.2x | 0.8x |
| Thu, 26 Jan 2023 | RM 114.2b | RM 141.0b | RM 8.4b | 12.2x | 13.6x | 0.8x |
Price to Earnings Ratio
13.6x
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 1.2x 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 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 Market | 1.35% | |
| Utilities | 3.57% | |
| Other Utilities | 8.08% | |
| Electric Utilities | 2.21% | |
| Gas Utilities | 2.01% | |
| Water Utilities | -1.07% | |
| Renewable Energy | -2.23% | |
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, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 11.2x.
Forecasted Growth
- Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 23% 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?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| YTL YTL Corporation Berhad | RM 2.26 | 10.2% +RM 2.4b | 3.2% | PE13.3x | |
| YTLPOWR YTL Power International Berhad | RM 3.55 | 6.3% +RM 1.8b | -9.0% | PE11.9x | |
| TENAGA Tenaga Nasional Berhad | RM 13.86 | 2.2% +RM 1.7b | 1.9% | PE18.1x | |
| PETGAS PETRONAS Gas Berhad | RM 18.68 | 2.1% +RM 751.9m | 8.7% | PE20.8x | |
| GASMSIA Gas Malaysia Berhad | RM 4.42 | 1.6% +RM 89.9m | 7.0% | PE13.9x |
