Malaysian (KLSE) Water Industry Analysis

UpdatedSep 18, 2025

DataAggregated Company Financials

Companies5

7D1.6%
3M21.9%
1Y0.3%
YTDn/a

In the last week, the Water industry is up 1.5%, with Ranhill Utilities Berhad up 4.2%. Despite this gain, the industry's performance has been flat over the past year. Looking forward, earnings are forecast to grow by 13% annually.

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
Thu, 18 Sep 2025	RM 4.7b	RM 3.9b	RM 144.2m	16.2x	32.3x	1.2x
Sat, 16 Aug 2025	RM 3.9b	RM 3.9b	RM 174.8m	14.5x	22.5x	1x
Mon, 14 Jul 2025	RM 4.1b	RM 3.9b	RM 174.8m	15.6x	23.3x	1x
Wed, 11 Jun 2025	RM 3.9b	RM 3.9b	RM 174.8m	15.8x	22.4x	1x
Fri, 09 May 2025	RM 4.1b	RM 3.8b	RM 152.6m	18.9x	26.7x	1.1x
Sun, 06 Apr 2025	RM 4.0b	RM 3.8b	RM 153.0m	19.3x	26.2x	1.1x
Tue, 04 Mar 2025	RM 4.2b	RM 3.8b	RM 153.0m	19.1x	27.2x	1.1x
Thu, 30 Jan 2025	RM 4.2b	RM 3.8b	RM 186.6m	20.7x	22.4x	1.1x
Sat, 28 Dec 2024	RM 4.6b	RM 3.8b	RM 186.6m	22x	24.8x	1.2x
Mon, 25 Nov 2024	RM 4.4b	RM 3.8b	RM 170.4m	31.5x	25.7x	1.2x
Wed, 23 Oct 2024	RM 4.5b	RM 3.7b	RM 182.3m	33x	24.6x	1.2x
Fri, 20 Sep 2024	RM 4.7b	RM 3.7b	RM 182.3m	34.2x	25.7x	1.3x
Sun, 18 Aug 2024	RM 4.6b	RM 3.6b	RM 108.5m	37x	42.1x	1.3x
Tue, 16 Jul 2024	RM 4.9b	RM 3.6b	RM 114.0m	37.5x	42.7x	1.3x
Thu, 13 Jun 2024	RM 4.9b	RM 3.6b	RM 114.0m	37.2x	42.7x	1.3x
Sat, 11 May 2024	RM 4.6b	RM 3.6b	RM 116.8m	27.1x	39.2x	1.3x
Mon, 08 Apr 2024	RM 4.0b	RM 3.6b	RM 114.4m	20.7x	35.1x	1.1x
Wed, 06 Mar 2024	RM 3.9b	RM 3.6b	RM 114.4m	21.4x	34.4x	1.1x
Fri, 02 Feb 2024	RM 4.4b	RM 3.4b	RM 138.5m	14.5x	31.5x	1.3x
Sun, 31 Dec 2023	RM 3.8b	RM 3.4b	RM 138.5m	11.1x	27.3x	1.1x
Tue, 28 Nov 2023	RM 3.7b	RM 3.4b	RM 138.5m	11.1x	26.6x	1.1x
Thu, 26 Oct 2023	RM 3.0b	RM 3.2b	RM 172.2m	7.4x	17.2x	0.9x
Sat, 23 Sep 2023	RM 3.1b	RM 3.2b	RM 172.2m	8.1x	17.7x	1x
Mon, 21 Aug 2023	RM 3.0b	RM 3.1b	RM 195.9m	7.7x	15.6x	1x
Wed, 19 Jul 2023	RM 2.9b	RM 3.0b	RM 190.8m	6.8x	15.4x	1x
Fri, 16 Jun 2023	RM 2.9b	RM 3.0b	RM 190.8m	6.9x	15.4x	1x
Sun, 14 May 2023	RM 3.0b	RM 2.9b	RM 187.3m	8x	16.1x	1.1x
Tue, 11 Apr 2023	RM 3.0b	RM 2.8b	RM 161.5m	7.4x	18.7x	1.1x
Thu, 09 Mar 2023	RM 2.9b	RM 2.8b	RM 161.5m	6.5x	18x	1x
Sat, 04 Feb 2023	RM 3.0b	RM 2.7b	RM 145.4m	22.1x	20.7x	1.1x
Mon, 02 Jan 2023	RM 2.9b	RM 2.7b	RM 145.4m	19.9x	20.1x	1.1x
Wed, 30 Nov 2022	RM 2.8b	RM 2.6b	RM 108.8m	18.5x	26x	1.1x
Fri, 28 Oct 2022	RM 2.8b	RM 2.7b	RM 143.7m	20.6x	19.6x	1.1x
Sun, 25 Sep 2022	RM 3.0b	RM 2.7b	RM 143.7m	21.6x	20.6x	1.1x

Price to Earnings Ratio

20.6x

Sun, 25 Sep 2022

Current Industry PE

Investors are optimistic on the Malaysian Water Utilities industry, and appear confident in long term growth rates.

The industry is trading at a PE ratio of 32.2x which is higher than its 3-year average PE of 24.9x.

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 remained mostly flat over the last three years.
Meanwhile revenues for these companies have grown 13% per year.
This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.