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Malaysian (KLSE) Utilities Sector Analysis
UpdatedApr 11, 2026
DataAggregated Company Financials
Companies14
- 7D1.6%
- 3M3.3%
- 1Y11.2%
- YTD2.8%
In the last week, the Utilities industry is up 1.6%, with YTL Power International Berhad up 5.4%. This means that the industry has gained 11% over the past year. As for the next few years, earnings are expected to grow by 8.2% 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 |
|---|---|---|---|---|---|---|
| Sun, 12 Apr 2026 | RM 191.7b | RM 142.8b | RM 11.7b | 14.2x | 16.4x | 1.3x |
| Tue, 10 Mar 2026 | RM 172.7b | RM 142.8b | RM 11.7b | 14x | 14.8x | 1.2x |
| Thu, 05 Feb 2026 | RM 187.5b | RM 144.4b | RM 11.9b | 13.7x | 15.7x | 1.3x |
| Sat, 03 Jan 2026 | RM 186.3b | RM 144.4b | RM 11.9b | 13.8x | 15.6x | 1.3x |
| Mon, 01 Dec 2025 | RM 181.6b | RM 144.2b | RM 11.9b | 12.9x | 15.2x | 1.3x |
| Wed, 29 Oct 2025 | RM 195.5b | RM 145.9b | RM 12.0b | 15.7x | 16.3x | 1.3x |
| Fri, 26 Sep 2025 | RM 198.1b | RM 145.9b | RM 12.0b | 15.9x | 16.5x | 1.4x |
| Sun, 24 Aug 2025 | RM 202.3b | RM 147.2b | RM 12.4b | 15.6x | 16.3x | 1.4x |
| Tue, 22 Jul 2025 | RM 196.6b | RM 148.7b | RM 12.8b | 14x | 15.4x | 1.3x |
| Thu, 19 Jun 2025 | RM 190.4b | RM 148.7b | RM 12.8b | 12.8x | 14.9x | 1.3x |
| Sat, 17 May 2025 | RM 189.3b | RM 149.2b | RM 12.8b | 14.9x | 14.8x | 1.3x |
| Mon, 14 Apr 2025 | RM 169.6b | RM 149.2b | RM 12.8b | 14.1x | 13.3x | 1.1x |
| Wed, 12 Mar 2025 | RM 173.2b | RM 149.2b | RM 12.8b | 14.3x | 13.6x | 1.2x |
| Fri, 07 Feb 2025 | RM 181.4b | RM 147.5b | RM 12.1b | 12.4x | 14.9x | 1.2x |
| Sun, 05 Jan 2025 | RM 205.7b | RM 147.5b | RM 12.1b | 15.5x | 16.9x | 1.4x |
| Tue, 03 Dec 2024 | RM 182.1b | RM 147.5b | RM 12.1b | 12.6x | 15x | 1.2x |
| Thu, 31 Oct 2024 | RM 180.5b | RM 145.3b | RM 11.8b | 11.9x | 15.3x | 1.2x |
| Sat, 28 Sep 2024 | RM 196.4b | RM 145.3b | RM 11.8b | 12.8x | 16.7x | 1.4x |
| Mon, 26 Aug 2024 | RM 201.6b | RM 144.4b | RM 10.1b | 18.2x | 20x | 1.4x |
| Wed, 24 Jul 2024 | RM 217.9b | RM 146.0b | RM 10.2b | 19x | 21.4x | 1.5x |
| Fri, 21 Jun 2024 | RM 212.0b | RM 146.0b | RM 10.2b | 18.4x | 20.9x | 1.5x |
| Sun, 19 May 2024 | RM 211.6b | RM 147.2b | RM 10.0b | 20x | 21.2x | 1.4x |
| Tue, 16 Apr 2024 | RM 178.8b | RM 147.2b | RM 10.0b | 17.6x | 17.9x | 1.2x |
| Thu, 14 Mar 2024 | RM 174.6b | RM 147.2b | RM 10.0b | 18.1x | 17.5x | 1.2x |
| Sat, 10 Feb 2024 | RM 171.5b | RM 150.1b | RM 9.4b | 14.9x | 18.2x | 1.1x |
| Mon, 08 Jan 2024 | RM 161.3b | RM 150.1b | RM 9.4b | 14.5x | 17.1x | 1.1x |
| Wed, 06 Dec 2023 | RM 139.8b | RM 150.1b | RM 9.4b | 10.6x | 14.8x | 0.9x |
| Fri, 03 Nov 2023 | RM 140.7b | RM 152.8b | RM 8.5b | 10.6x | 16.6x | 0.9x |
| Sun, 01 Oct 2023 | RM 137.6b | RM 152.8b | RM 8.5b | 9.4x | 16.2x | 0.9x |
| Tue, 29 Aug 2023 | RM 136.8b | RM 152.7b | RM 8.9b | 10.1x | 15.3x | 0.9x |
| Thu, 27 Jul 2023 | RM 126.4b | RM 149.0b | RM 8.5b | 9.8x | 14.9x | 0.8x |
| Sat, 24 Jun 2023 | RM 119.2b | RM 149.0b | RM 8.5b | 9.8x | 14.1x | 0.8x |
| Mon, 22 May 2023 | RM 121.8b | RM 146.4b | RM 8.5b | 10.3x | 14.3x | 0.8x |
| Wed, 19 Apr 2023 | RM 115.3b | RM 145.7b | RM 8.5b | 10.8x | 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 16.2x.
- 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 Market | 0.42% | |
| Utilities | 1.62% | |
| Other Utilities | 5.60% | |
| Renewable Energy | 3.37% | |
| Water Utilities | 2.52% | |
| Electric Utilities | 0.28% | |
| Gas Utilities | -0.98% | |
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 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?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| YTLPOWR YTL Power International Berhad | RM 3.70 | 5.4% +RM 1.6b | 23.3% | PE14.2x | |
| YTL YTL Corporation Berhad | RM 1.99 | 5.9% +RM 1.3b | 13.7% | PE12.7x | |
| TENAGA Tenaga Nasional Berhad | RM 14.08 | 0.3% +RM 233.2m | 6.5% | PE17.2x | |
| MALAKOF Malakoff Corporation Berhad | RM 0.84 | 4.3% +RM 171.0m | 5.7% | PE100.5x | |
| MFCB Mega First Corporation Berhad | RM 2.92 | 2.8% +RM 75.4m | -25.1% | PE7.1x |
