Investors Shouldn't Be Too Comfortable With PBA Holdings Bhd's (KLSE:PBA) Earnings
Nov 26
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Malaysian (KLSE) Water Industry Analysis
UpdatedJan 09, 2026
DataAggregated Company Financials
Companies5
- 7D1.1%
- 3M-9.9%
- 1Y-8.2%
- YTDn/a
In the last week, the Water industry is up 1.1%, with Ranhill Utilities Berhad up 2.4%. In contrast, the industry has lost 8.2% in the last 12 months. As for the next few years, earnings are expected to grow by 19% per annum.
Industry Valuation and Performance
Has the Malaysian Water Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 10 Jan 2026 | RM 4.3b | RM 3.8b | RM 198.0m | 13x | 21.5x | 1.1x |
| Mon, 08 Dec 2025 | RM 4.3b | RM 3.8b | RM 198.0m | 13.2x | 21.6x | 1.1x |
| Wed, 05 Nov 2025 | RM 4.4b | RM 3.8b | RM 143.6m | 16.1x | 30.4x | 1.2x |
| Fri, 03 Oct 2025 | RM 4.8b | RM 3.9b | RM 144.2m | 16x | 33.2x | 1.2x |
| Sun, 31 Aug 2025 | RM 4.2b | RM 3.9b | RM 144.2m | 16.8x | 29.4x | 1.1x |
| Tue, 29 Jul 2025 | RM 4.1b | RM 3.9b | RM 174.8m | 15.6x | 23.3x | 1x |
| Thu, 26 Jun 2025 | RM 3.8b | RM 3.9b | RM 174.8m | 15.3x | 21.7x | 1x |
| Sat, 24 May 2025 | RM 3.9b | RM 3.8b | RM 153.3m | 19.3x | 25.8x | 1x |
| Mon, 21 Apr 2025 | RM 3.9b | RM 3.8b | RM 153.0m | 19.1x | 25.8x | 1x |
| Wed, 19 Mar 2025 | RM 4.1b | RM 3.8b | RM 153.0m | 18.9x | 26.8x | 1.1x |
| Fri, 14 Feb 2025 | RM 4.3b | RM 3.8b | RM 186.6m | 20.5x | 23.2x | 1.1x |
| Sun, 12 Jan 2025 | RM 4.6b | RM 3.8b | RM 186.6m | 21.7x | 24.8x | 1.2x |
| Tue, 10 Dec 2024 | RM 4.6b | RM 3.8b | RM 186.6m | 22x | 24.9x | 1.2x |
| Thu, 07 Nov 2024 | RM 4.4b | RM 3.7b | RM 182.3m | 33.2x | 24.4x | 1.2x |
| Sat, 05 Oct 2024 | RM 4.5b | RM 3.7b | RM 182.3m | 32.9x | 24.5x | 1.2x |
| Mon, 02 Sep 2024 | RM 4.6b | RM 3.7b | RM 182.3m | 33.3x | 25.2x | 1.2x |
| Wed, 31 Jul 2024 | RM 4.7b | RM 3.6b | RM 114.0m | 35.9x | 41.2x | 1.3x |
| Fri, 28 Jun 2024 | RM 4.5b | RM 3.6b | RM 114.0m | 34.3x | 39.7x | 1.2x |
| Sun, 26 May 2024 | RM 4.6b | RM 3.6b | RM 123.1m | 26.8x | 37.5x | 1.3x |
| Tue, 23 Apr 2024 | RM 3.9b | RM 3.6b | RM 114.4m | 19.8x | 34.4x | 1.1x |
| Thu, 21 Mar 2024 | RM 4.0b | RM 3.6b | RM 114.4m | 21.7x | 34.8x | 1.1x |
| Sat, 17 Feb 2024 | RM 4.4b | RM 3.4b | RM 138.5m | 14.5x | 32.1x | 1.3x |
| Mon, 15 Jan 2024 | RM 4.2b | RM 3.4b | RM 138.5m | 13.8x | 30.3x | 1.3x |
| Wed, 13 Dec 2023 | RM 3.6b | RM 3.4b | RM 138.5m | 10.7x | 26x | 1.1x |
| Fri, 10 Nov 2023 | RM 3.8b | RM 3.2b | RM 168.6m | 11.7x | 22.8x | 1.2x |
| Sun, 08 Oct 2023 | RM 3.0b | RM 3.2b | RM 172.2m | 7.5x | 17.5x | 1x |
| Tue, 05 Sep 2023 | RM 3.1b | RM 3.2b | RM 172.2m | 8.2x | 18.1x | 1x |
| Thu, 03 Aug 2023 | RM 3.0b | RM 3.0b | RM 190.8m | 7.7x | 15.7x | 1x |
| Sat, 01 Jul 2023 | RM 2.9b | RM 3.0b | RM 190.8m | 6.8x | 15.1x | 1x |
| Mon, 29 May 2023 | RM 3.0b | RM 2.9b | RM 192.3m | 7.8x | 15.6x | 1x |
| Wed, 26 Apr 2023 | RM 3.0b | RM 2.8b | RM 160.1m | 7.9x | 18.9x | 1.1x |
| Fri, 24 Mar 2023 | RM 2.9b | RM 2.8b | RM 161.5m | 6.2x | 17.7x | 1x |
| Sun, 19 Feb 2023 | RM 2.9b | RM 2.7b | RM 154.2m | 20.1x | 18.9x | 1.1x |
| Tue, 17 Jan 2023 | RM 2.9b | RM 2.7b | RM 145.4m | 19.9x | 20x | 1.1x |
Price to Earnings Ratio
20x
Current Industry PE
- Investors are pessimistic on the Malaysian Water Utilities industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 21.5x which is lower than its 3-year average PE of 25.7x.
- The industry is trading close to its 3-year average PS ratio of 1.1x.
Past Earnings Growth
- The earnings for companies in the Water Utilities industry have grown 11% per year over the last three years.
- Revenues for these companies have grown 12% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Comparison
How does Malaysian Water compare with similar industries?
| MY Market | 0.68% | |
| Utilities | -0.19% | |
| Water Utilities | 1.09% | |
| Water | 1.09% | |
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| RANHILL Ranhill Utilities Berhad | RM 1.74 | 2.4% +RM 51.8m | 17.6% | PE44.7x | |
| PBA PBA Holdings Bhd | RM 1.91 | 2.1% +RM 13.2m | -11.2% | PE4.4x | |
| PUNCAK Puncak Niaga Holdings Berhad | RM 0.23 | 7.1% +RM 6.7m | -4.3% | PS0.5x |
