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Malaysian (KLSE) Utilities Sector Analysis

UpdatedJan 28, 2026
DataAggregated Company Financials
Companies14
  • 7D0.4%
  • 3M-2.9%
  • 1Y6.2%
  • YTD2.6%

In the last week, the Utilities industry is flat overall, with YTL Corporation Berhad standing out by going down 7.5%. As for the the longer term, the industry is up 6.2% over the past 12 months. 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?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 29 Jan 2026RM 191.2bRM 144.4bRM 11.9b14x16x1.3x
Sat, 27 Dec 2025RM 186.7bRM 144.4bRM 11.9b13.7x15.6x1.3x
Mon, 24 Nov 2025RM 191.3bRM 145.5bRM 12.3b14.1x15.6x1.3x
Wed, 22 Oct 2025RM 197.1bRM 145.9bRM 12.0b15.9x16.4x1.4x
Fri, 19 Sep 2025RM 199.5bRM 145.9bRM 12.0b15.9x16.6x1.4x
Sun, 17 Aug 2025RM 199.7bRM 148.7bRM 12.8b14.5x15.6x1.3x
Tue, 15 Jul 2025RM 196.9bRM 148.7bRM 12.8b13.9x15.4x1.3x
Thu, 12 Jun 2025RM 189.1bRM 148.7bRM 12.8b13x14.8x1.3x
Sat, 10 May 2025RM 187.8bRM 149.2bRM 12.8b14.9x14.7x1.3x
Mon, 07 Apr 2025RM 175.8bRM 149.2bRM 12.8b14.4x13.8x1.2x
Wed, 05 Mar 2025RM 174.7bRM 149.2bRM 12.8b14.4x13.7x1.2x
Fri, 31 Jan 2025RM 177.2bRM 147.5bRM 12.1b12.2x14.6x1.2x
Sun, 29 Dec 2024RM 203.1bRM 147.5bRM 12.1b14.8x16.7x1.4x
Tue, 26 Nov 2024RM 179.8bRM 145.4bRM 11.7b12.2x15.3x1.2x
Thu, 24 Oct 2024RM 189.3bRM 145.3bRM 11.8b12.5x16.1x1.3x
Sat, 21 Sep 2024RM 200.5bRM 145.3bRM 11.8b14x17x1.4x
Mon, 19 Aug 2024RM 208.6bRM 146.0bRM 10.2b18.6x20.5x1.4x
Wed, 17 Jul 2024RM 219.1bRM 146.0bRM 10.2b19.1x21.6x1.5x
Fri, 14 Jun 2024RM 216.6bRM 146.0bRM 10.2b18.8x21.3x1.5x
Sun, 12 May 2024RM 202.1bRM 147.2bRM 10.0b18.8x20.2x1.4x
Tue, 09 Apr 2024RM 181.5bRM 147.2bRM 10.0b17.9x18.2x1.2x
Thu, 07 Mar 2024RM 174.4bRM 147.2bRM 10.0b18x17.5x1.2x
Sat, 03 Feb 2024RM 169.9bRM 150.1bRM 9.4b14.4x18x1.1x
Mon, 01 Jan 2024RM 148.4bRM 150.1bRM 9.4b11.1x15.7x1x
Wed, 29 Nov 2023RM 140.5bRM 150.2bRM 9.5b10.8x14.9x0.9x
Fri, 27 Oct 2023RM 136.5bRM 152.8bRM 8.5b9.7x16.1x0.9x
Sun, 24 Sep 2023RM 139.6bRM 152.8bRM 8.5b9.3x16.5x0.9x
Tue, 22 Aug 2023RM 133.1bRM 149.1bRM 8.5b9.9x15.7x0.9x
Thu, 20 Jul 2023RM 121.4bRM 149.0bRM 8.5b9.8x14.3x0.8x
Sat, 17 Jun 2023RM 120.8bRM 149.0bRM 8.5b9.8x14.3x0.8x
Mon, 15 May 2023RM 117.8bRM 145.7bRM 8.5b10.8x13.9x0.8x
Wed, 12 Apr 2023RM 114.7bRM 145.7bRM 8.5b10.8x13.6x0.8x
Fri, 10 Mar 2023RM 114.6bRM 145.7bRM 8.5b10.4x13.5x0.8x
Sun, 05 Feb 2023RM 115.0bRM 141.0bRM 8.4b12.2x13.7x0.8x
Price to Earnings Ratio

13.7x


Total Market Cap: RM 115.0bTotal 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 1.2x 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 Market2.92%
Utilities0.39%
Gas Utilities2.47%
Electric Utilities2.32%
Water Utilities2.13%
Renewable Energy0.75%
Other Utilities-4.12%
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 19.6%, 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 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?

CompanyLast Price7D1YValuation
TENAGA Tenaga Nasional BerhadRM 14.082.0%
+RM 1.6b		3.5%PE18.4x
GASMSIA Gas Malaysia BerhadRM 4.756.7%
+RM 385.2m		15.3%PE15x
RANHILL Ranhill Utilities BerhadRM 1.741.2%
+RM 25.9m		42.6%PE44.7x
GENERGY Wasco Greenergy BerhadRM 0.685.5%
+RM 17.5m		n/aPE15.5x
TALIWRK Taliworks Corporation BerhadRM 0.481.0%
+RM 10.1m		-38.2%PE11.4x

Latest News

MFCB
RM 3.37
Mega First Corporation Berhad
7D
-3.4%
1Y
-20.0%
PETGAS
RM 18.60
PETRONAS Gas Berhad
7D
-1.1%
1Y
8.6%

The Returns On Capital At PETRONAS Gas Berhad (KLSE:PETGAS) Don't Inspire Confidence

Jan 26
The Returns On Capital At PETRONAS Gas Berhad (KLSE:PETGAS) Don't Inspire Confidence
YTL
RM 2.10
YTL Corporation Berhad
7D
-7.5%
1Y
10.5%

YTL Corporation Berhad (KLSE:YTL) Might Have The Makings Of A Multi-Bagger

Jan 25
YTL Corporation Berhad (KLSE:YTL) Might Have The Makings Of A Multi-Bagger
TENAGA
RM 14.08
Tenaga Nasional Berhad
7D
2.0%
1Y
3.5%

TENAGA: Cross-Border Wheeling And New Solar Project Will Support Future Upside

Analysts have nudged their fair value estimate for Tenaga Nasional Berhad slightly higher to RM15.72 from RM15.69, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E expectations. What's in the News Tenaga signed the Energy Wheeling Agreement Phase 2 under the LTMS 2.0 framework, enabling the sale, transmission and purchase of 30MW to 100MW of power from Lao PDR to Singapore through Thailand and Malaysia.
GASMSIA
RM 4.75
Gas Malaysia Berhad
7D
6.7%
1Y
15.3%
RANHILL
RM 1.74
Ranhill Utilities Berhad
7D
1.2%
1Y
42.6%
GENERGY
RM 0.68
Wasco Greenergy Berhad
7D
5.5%
1Y
n/a
YTLPOWR
RM 3.34
YTL Power International Berhad
7D
-4.8%
1Y
7.4%

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 0.78
Malakoff Corporation Berhad
7D
-3.7%
1Y
-9.3%
SALCON
RM 0.23
Salcon Berhad
7D
-2.1%
1Y
-11.5%
PUNCAK
RM 0.22
Puncak Niaga Holdings Berhad
7D
4.8%
1Y
2.3%
TALIWRK
RM 0.48
Taliworks Corporation Berhad
7D
1.0%
1Y
-38.2%

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