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Singaporean (SGX) Utilities Sector Analysis

UpdatedFeb 28, 2026
DataAggregated Company Financials
Companies11
  • 7D-2.7%
  • 3M0.8%
  • 1Y4.7%
  • YTD1.0%

Over the last 7 days, the Utilities industry has dropped 3.2%, driven by a pullback from Sembcorp Industries of 3.2%. In the past year, the industry has gained 5.1%. Earnings are forecast to grow by 5.4% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 28 Feb 2026S$13.9bS$10.1bS$1.5b9.5x9.4x1.4x
Mon, 26 Jan 2026S$13.6bS$10.4bS$1.5b5x9x1.3x
Wed, 24 Dec 2025S$13.6bS$10.4bS$1.5b5.9x9x1.3x
Fri, 21 Nov 2025S$13.9bS$10.4bS$1.5b5.9x9.1x1.3x
Sun, 19 Oct 2025S$13.8bS$10.4bS$1.5b4.8x9.1x1.3x
Tue, 16 Sep 2025S$13.7bS$10.4bS$1.5b4.9x9.1x1.3x
Thu, 14 Aug 2025S$14.0bS$10.3bS$1.4b6.6x9.8x1.4x
Sat, 12 Jul 2025S$15.9bS$10.6bS$1.4b7.6x11.6x1.5x
Mon, 09 Jun 2025S$14.7bS$10.7bS$1.4b8.3x10.7x1.4x
Wed, 07 May 2025S$14.2bS$10.7bS$1.4b7.6x10.4x1.3x
Fri, 04 Apr 2025S$14.3bS$10.8bS$1.4b7.6x10.4x1.3x
Sun, 02 Mar 2025S$13.3bS$10.8bS$1.3b8x10.2x1.2x
Tue, 28 Jan 2025S$12.3bS$10.8bS$1.2b8.7x9.9x1.1x
Thu, 26 Dec 2024S$12.1bS$10.8bS$1.2b8.9x9.7x1.1x
Sat, 23 Nov 2024S$11.8bS$10.8bS$1.2b8.2x9.5x1.1x
Mon, 21 Oct 2024S$12.4bS$10.8bS$1.3b6.4x9.8x1.1x
Wed, 18 Sep 2024S$11.6bS$10.8bS$1.3b9.1x9.2x1.1x
Fri, 16 Aug 2024S$10.7bS$10.8bS$1.3b8.6x8.3x1x
Sun, 14 Jul 2024S$11.3bS$11.3bS$1.4b8.4x8.1x1x
Tue, 11 Jun 2024S$11.7bS$11.4bS$1.4b8.6x8.4x1x
Thu, 09 May 2024S$11.7bS$10.8bS$1.4b9.1x8.5x1.1x
Sat, 06 Apr 2024S$12.2bS$10.8bS$1.4b8.3x8.9x1.1x
Mon, 04 Mar 2024S$11.4bS$10.8bS$1.4b8.3x8.4x1.1x
Wed, 31 Jan 2024S$15.4bS$13.7bS$1.4b7.8x10.8x1.1x
Fri, 29 Dec 2023S$14.5bS$13.6bS$1.4b7.3x10.2x1.1x
Sun, 26 Nov 2023S$14.0bS$13.7bS$1.4b6.8x9.9x1x
Tue, 24 Oct 2023S$12.8bS$13.7bS$1.4b6.1x9.1x0.9x
Thu, 21 Sep 2023S$14.4bS$13.7bS$1.4b6.8x10.3x1.1x
Sat, 19 Aug 2023S$14.8bS$13.7bS$1.4b7.1x10.5x1.1x
Mon, 17 Jul 2023S$14.8bS$13.7bS$1.1b7x13.9x1.1x
Wed, 14 Jun 2023S$15.2bS$13.8bS$1.1b7.2x14.2x1.1x
Fri, 12 May 2023S$13.2bS$13.8bS$1.1b7x12.4x1x
Sun, 09 Apr 2023S$12.9bS$13.8bS$1.1b6.8x12x0.9x
Tue, 07 Mar 2023S$11.9bS$13.8bS$1.1b9.2x11x0.9x
Price to Earnings Ratio

11x


Total Market Cap: S$11.9bTotal Earnings: S$1.1bTotal Revenue: S$13.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Singaporean Utilities Sector Price to Earnings3Y Average 10x202420252026
Current Industry PE
  • Investors are relatively neutral on the Singaporean 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 10.0x.
  • The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.4x.
Past Earnings Growth
  • The earnings for companies in the Utilities industry have grown 10% per year over the last three years.
  • Meanwhile revenues for these companies have declined 10% per year.
  • This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.

Industry Trends

Which industries have driven the changes within the Singaporean Utilities sector?

SG Market-0.35%
Utilities-2.69%
Renewable Energy2.04%
Gas Utilities-2.54%
Other Utilities-2.96%
Water Utilities-3.35%
Industry PE
  • Investors are most optimistic about the Gas Utilities industry which is trading above its 3-year average PE ratio.
    • It looks like they are confident that earnings will grow faster in the future than they have historically.
  • Investors are most pessimistic about the Renewable Energy industry, which is trading below its 3-year average of 7.6x.
Forecasted Growth
  • Analysts are most optimistic on the Other Utilities industry, expecting annual earnings growth of 5.4% over the next 5 years.
  • This is better than its past earnings decline of 3.5% per year.
  • In contrast, the Other Utilities industry is expected to see its earnings grow by 5.4% 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
BWM Zheneng Jinjiang Environment HoldingS$0.602.6%
+S$21.5m		37.9%PE6.4x
5IG Gallant VentureS$0.082.6%
+S$10.9m		6.7%PE163.7x
BHK SIIC Environment HoldingsS$0.190.5%
+S$2.6m		19.2%PE4.1x

Latest News

U9E
S$0.24
China Everbright Water
7D
-7.7%
1Y
0%
BWM
S$0.60
Zheneng Jinjiang Environment Holding
7D
2.6%
1Y
37.9%
U96
S$6.12
Sembcorp Industries
7D
-3.2%
1Y
0.5%

U96: India Renewables Acquisitions In 2026 Will Support Future Returns

Analysts have nudged their price target for Sembcorp Industries slightly lower from SGD7.10 to SGD7.07, citing updated assumptions for more moderate revenue growth, a small adjustment to profit margins, and a modestly higher future P/E multiple. What's in the News Sembcorp is reported to be among potential bidders, alongside global private equity firms and infrastructure investors, for a controlling stake in Welspun New Energy at a valuation around US$250 million, with EY advising on the sale and binding bids said to be expected soon (Key Developments).
5IG
S$0.08
Gallant Venture
7D
2.6%
1Y
6.7%
BHK
S$0.19
SIIC Environment Holdings
7D
0.5%
1Y
19.2%
5CR
S$0.003
Asiatic Group (Holdings)
7D
-25.0%
1Y
0%
YSV
S$0.11
Charisma Energy Services
7D
-0.9%
1Y
n/a
1F2
S$0.36
Union Gas Holdings
7D
-2.7%
1Y
15.9%