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Malaysian (KLSE) Utilities Sector Analysis

UpdatedJan 30, 2026
DataAggregated Company Financials
Companies14
  • 7D-1.9%
  • 3M-5.0%
  • 1Y4.5%
  • YTD1.0%

Over the last 7 days, the Utilities industry has dropped 1.9%, driven by pullbacks in YTL Corporation Berhad and YTL Power International Berhad of 7.0% and 5.2%, respectively. This takes the industry's 12 month performance to a gain of 4.5%. Looking forward, earnings are forecast to grow by 7.3% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 30 Jan 2026RM 188.2bRM 144.4bRM 11.9b14x15.8x1.3x
Sun, 28 Dec 2025RM 186.7bRM 144.4bRM 11.9b13.7x15.6x1.3x
Tue, 25 Nov 2025RM 187.9bRM 145.5bRM 12.3b13.6x15.3x1.3x
Thu, 23 Oct 2025RM 194.6bRM 145.9bRM 12.0b15.7x16.2x1.3x
Sat, 20 Sep 2025RM 199.8bRM 145.9bRM 12.0b16x16.6x1.4x
Mon, 18 Aug 2025RM 199.7bRM 148.7bRM 12.8b14.5x15.6x1.3x
Wed, 16 Jul 2025RM 196.0bRM 148.7bRM 12.8b13.9x15.3x1.3x
Fri, 13 Jun 2025RM 190.5bRM 148.7bRM 12.8b13x14.9x1.3x
Sun, 11 May 2025RM 187.8bRM 149.2bRM 12.8b14.9x14.7x1.3x
Tue, 08 Apr 2025RM 169.0bRM 149.2bRM 12.8b13.8x13.2x1.1x
Thu, 06 Mar 2025RM 177.5bRM 149.2bRM 12.8b14.5x13.9x1.2x
Sat, 01 Feb 2025RM 177.8bRM 147.5bRM 12.1b12.2x14.6x1.2x
Mon, 30 Dec 2024RM 203.1bRM 147.5bRM 12.1b14.8x16.7x1.4x
Wed, 27 Nov 2024RM 182.4bRM 145.7bRM 11.8b11.9x15.5x1.3x
Fri, 25 Oct 2024RM 186.2bRM 145.3bRM 11.8b12.5x15.8x1.3x
Sun, 22 Sep 2024RM 200.5bRM 145.3bRM 11.8b14x17x1.4x
Tue, 20 Aug 2024RM 207.6bRM 146.0bRM 10.2b18.6x20.4x1.4x
Thu, 18 Jul 2024RM 218.6bRM 146.0bRM 10.2b18.9x21.5x1.5x
Sat, 15 Jun 2024RM 217.2bRM 146.0bRM 10.2b18.7x21.4x1.5x
Mon, 13 May 2024RM 202.1bRM 147.2bRM 10.0b18.8x20.2x1.4x
Wed, 10 Apr 2024RM 180.4bRM 147.2bRM 10.0b18.1x18.1x1.2x
Fri, 08 Mar 2024RM 174.4bRM 147.2bRM 10.0b18x17.5x1.2x
Sun, 04 Feb 2024RM 169.9bRM 150.1bRM 9.4b14.4x18x1.1x
Tue, 02 Jan 2024RM 148.4bRM 150.1bRM 9.4b11.1x15.7x1x
Thu, 30 Nov 2023RM 140.7bRM 150.2bRM 9.4b10.8x14.9x0.9x
Sat, 28 Oct 2023RM 136.9bRM 152.8bRM 8.5b9.7x16.2x0.9x
Mon, 25 Sep 2023RM 139.6bRM 152.8bRM 8.5b9.3x16.5x0.9x
Wed, 23 Aug 2023RM 135.1bRM 149.4bRM 8.5b10.2x15.9x0.9x
Fri, 21 Jul 2023RM 121.6bRM 149.0bRM 8.5b9.9x14.4x0.8x
Sun, 18 Jun 2023RM 120.8bRM 149.0bRM 8.5b9.8x14.3x0.8x
Tue, 16 May 2023RM 117.9bRM 145.7bRM 8.5b10.7x13.9x0.8x
Thu, 13 Apr 2023RM 113.8bRM 145.7bRM 8.5b10.8x13.5x0.8x
Sat, 11 Mar 2023RM 113.6bRM 145.7bRM 8.5b10.3x13.4x0.8x
Mon, 06 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 Market0.083%
Utilities-1.87%
Electric Utilities1.01%
Gas Utilities-1.47%
Water Utilities-2.15%
Renewable Energy-3.53%
Other Utilities-6.06%
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 11.3x.
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 13.941.0%
+RM 816.1m		2.5%PE18.2x
GASMSIA Gas Malaysia BerhadRM 4.611.8%
+RM 102.7m		12.4%PE14.5x
PUNCAK Puncak Niaga Holdings BerhadRM 0.224.8%
+RM 4.5m		-4.3%PS0.5x

Latest News

YTLPOWR
RM 3.23
YTL Power International Berhad
7D
-6.4%
1Y
3.2%

YTL Power International Berhad (KLSE:YTLPOWR) Has No Shortage Of Debt

Jan 30
YTL Power International Berhad (KLSE:YTLPOWR) Has No Shortage Of Debt
MFCB
RM 3.25
Mega First Corporation Berhad
7D
-5.8%
1Y
-24.1%
PETGAS
RM 18.38
PETRONAS Gas Berhad
7D
-1.1%
1Y
6.9%

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 2.08
YTL Corporation Berhad
7D
-8.8%
1Y
8.9%

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 13.94
Tenaga Nasional Berhad
7D
1.0%
1Y
2.5%

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 4.61
Gas Malaysia Berhad
7D
1.8%
1Y
12.4%
RANHILL
RM 1.72
Ranhill Utilities Berhad
7D
-2.8%
1Y
30.3%
GENERGY
RM 0.66
Wasco Greenergy Berhad
7D
-8.4%
1Y
n/a
MALAKOF
RM 0.78
Malakoff Corporation Berhad
7D
-3.1%
1Y
-10.3%
PUNCAK
RM 0.22
Puncak Niaga Holdings Berhad
7D
4.8%
1Y
-4.3%
TALIWRK
RM 0.47
Taliworks Corporation Berhad
7D
-4.1%
1Y
-39.4%

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