Narrative Update • Aug 24
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Singaporean (SGX) Utilities Sector Analysis
UpdatedAug 28, 2026
DataAggregated Company Financials
Companies10
- 7D0.5%
- 3M-4.0%
- 1Y1.5%
- YTD-0.8%
The Utilities industry is up 1.3% in the last week, with Sembcorp Industries up 0.7%. During this same period, the China Everbright Water underperformed, falling 6.5%. Overall in the last year, the industry is flat. As for the next few years, earnings are expected to grow by 25% per annum.
Sector Valuation and Performance
Has the Singaporean Utilities Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 28 Aug 2026 | S$13.7b | S$10.6b | S$1.0b | 7.2x | 13.1x | 1.3x |
| Sun, 26 Jul 2026 | S$12.2b | S$9.8b | S$1.5b | 6.4x | 8.1x | 1.2x |
| Tue, 23 Jun 2026 | S$14.1b | S$9.9b | S$1.5b | 6.4x | 9.4x | 1.4x |
| Thu, 21 May 2026 | S$13.9b | S$9.8b | S$1.5b | 6.9x | 9.2x | 1.4x |
| Sat, 18 Apr 2026 | S$15.4b | S$9.8b | S$1.5b | 7x | 10.3x | 1.6x |
| Mon, 16 Mar 2026 | S$13.2b | S$9.8b | S$1.5b | 6.8x | 8.8x | 1.3x |
| Wed, 11 Feb 2026 | S$13.8b | S$10.4b | S$1.5b | 5.9x | 9.2x | 1.3x |
| Fri, 09 Jan 2026 | S$13.6b | S$10.4b | S$1.5b | 5.9x | 9x | 1.3x |
| Sun, 07 Dec 2025 | S$13.5b | S$10.4b | S$1.5b | 5.9x | 8.9x | 1.3x |
| Tue, 04 Nov 2025 | S$14.5b | S$10.4b | S$1.5b | 9x | 9.6x | 1.4x |
| Thu, 02 Oct 2025 | S$13.5b | S$10.4b | S$1.5b | 6.7x | 9x | 1.3x |
| Sat, 30 Aug 2025 | S$13.6b | S$10.4b | S$1.5b | 6.7x | 9x | 1.3x |
| Mon, 28 Jul 2025 | S$16.3b | S$10.6b | S$1.4b | 5.9x | 11.9x | 1.5x |
| Wed, 25 Jun 2025 | S$14.7b | S$10.6b | S$1.4b | 5.9x | 10.7x | 1.4x |
| Fri, 23 May 2025 | S$14.3b | S$10.7b | S$1.4b | 7.6x | 10.4x | 1.3x |
| Sun, 20 Apr 2025 | S$13.7b | S$10.7b | S$1.4b | 5.6x | 10x | 1.3x |
| Tue, 18 Mar 2025 | S$13.3b | S$10.8b | S$1.4b | 7.6x | 9.7x | 1.2x |
| Thu, 13 Feb 2025 | S$11.9b | S$10.8b | S$1.2b | 8.7x | 9.6x | 1.1x |
| Sat, 11 Jan 2025 | S$12.2b | S$10.8b | S$1.2b | 8.3x | 9.8x | 1.1x |
| Mon, 09 Dec 2024 | S$12.4b | S$10.8b | S$1.2b | 9.3x | 10x | 1.2x |
| Wed, 06 Nov 2024 | S$11.5b | S$10.8b | S$1.3b | 6.4x | 9.1x | 1.1x |
| Fri, 04 Oct 2024 | S$12.4b | S$10.8b | S$1.3b | 6.4x | 9.9x | 1.1x |
| Sun, 01 Sep 2024 | S$11.0b | S$10.8b | S$1.3b | 8.9x | 8.7x | 1x |
| Tue, 30 Jul 2024 | S$11.0b | S$11.3b | S$1.4b | 5.9x | 7.8x | 1x |
| Thu, 27 Jun 2024 | S$11.7b | S$11.4b | S$1.4b | 8.8x | 8.4x | 1x |
| Sat, 25 May 2024 | S$11.5b | S$10.7b | S$1.4b | 8.9x | 8.5x | 1.1x |
| Mon, 22 Apr 2024 | S$11.9b | S$10.8b | S$1.4b | 9.3x | 8.7x | 1.1x |
| Wed, 20 Mar 2024 | S$11.5b | S$10.8b | S$1.4b | 8.3x | 8.4x | 1.1x |
| Fri, 16 Feb 2024 | S$12.6b | S$11.6b | S$1.4b | 4.5x | 9.2x | 1.1x |
| Sun, 14 Jan 2024 | S$14.9b | S$13.7b | S$1.4b | 7.5x | 10.5x | 1.1x |
| Tue, 12 Dec 2023 | S$13.7b | S$13.7b | S$1.4b | 6.6x | 9.6x | 1x |
| Thu, 09 Nov 2023 | S$14.2b | S$13.6b | S$1.4b | 6.9x | 9.9x | 1x |
| Sat, 07 Oct 2023 | S$13.8b | S$13.7b | S$1.4b | 6.7x | 9.8x | 1x |
| Mon, 04 Sep 2023 | S$14.8b | S$13.7b | S$1.4b | 7.6x | 10.5x | 1.1x |
Price to Earnings Ratio
10.5x
Current Industry PE
- Investors are optimistic on the Singaporean Utilities industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 13.2x which is higher than its 3-year average PE of 9.5x.
- The industry is trading close to its 3-year average PS ratio of 1.2x.
Past Earnings Growth
- The earnings for companies in the Utilities industry have declined 9.4% per year over the last three years,
- Revenues have also declined 8.0% per year.
- This means overall sales from these companies are declining and profits are subsequently falling as well.
Industry Trends
Which industries have driven the changes within the Singaporean Utilities sector?
| SG Market | -0.14% | |
| Utilities | 0.47% | |
| Renewable Energy | 4.34% | |
| Gas Utilities | 1.01% | |
| Other Utilities | 0.49% | |
| Electric Utilities | 0% | 0 |
| Water Utilities | -1.89% | |
Industry PE
- Investors are most optimistic about the Other Utilities industry which is trading above its 3-year average PE ratio of 11.2x.
- Analysts are expecting annual earnings growth of 25.6%, which is higher than its past year's earnings decline of 41.3% per year.
- Investors are most pessimistic about the Water Utilities industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 4.3x.
Forecasted Growth
- Analysts are most optimistic on the Other Utilities industry, expecting annual earnings growth of 26% over the next 5 years.
- This is better than its past earnings decline of 41% per year.
- In contrast, the Water Utilities industry is expected to see its earnings grow by 16% 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 | |
|---|---|---|---|---|---|
| U96 Sembcorp Industries | S$6.09 | 0.7% +S$71.2m | 1.0% | PE18.1x | |
| BWM Zheneng Jinjiang Environment Holding | S$0.59 | 4.4% +S$35.9m | 29.7% | PE5.5x | |
| 5GD Sunpower Group | S$0.58 | 3.5% +S$16.4m | 56.0% | PE7.2x | |
| 5CR Asiatic Group (Holdings) | S$0.003 | 50.0% +S$3.2m | 0% | PE20.5x | |
| 1F2 Union Gas Holdings | S$0.48 | 1.1% +S$1.6m | 31.5% | PE8.4x |