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Singaporean (SGX) Utilities Sector Analysis

UpdatedFeb 20, 2026
DataAggregated Company Financials
Companies11
  • 7D0.4%
  • 3M6.3%
  • 1Y15.5%
  • YTD4.1%

The Utilities industry has been flat over the last week, but Zheneng Jinjiang Environment Holding has lost 4.1%. As for the the longer term, the industry is up 13% over the past 12 months. Earnings are forecast to grow by 5.5% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 20 Feb 2026S$14.4bS$10.4bS$1.5b10.4x9.5x1.4x
Sun, 18 Jan 2026S$13.8bS$10.4bS$1.5b5.9x9.1x1.3x
Tue, 16 Dec 2025S$13.5bS$10.4bS$1.5b4.6x8.9x1.3x
Thu, 13 Nov 2025S$14.3bS$10.4bS$1.5b9x9.4x1.4x
Sat, 11 Oct 2025S$14.2bS$10.4bS$1.5b4.7x9.4x1.4x
Mon, 08 Sep 2025S$13.7bS$10.4bS$1.5b6.7x9.1x1.3x
Wed, 06 Aug 2025S$16.5bS$10.6bS$1.4b5.8x12x1.5x
Fri, 04 Jul 2025S$15.3bS$10.6bS$1.4b7.6x11.2x1.4x
Sun, 01 Jun 2025S$14.3bS$10.7bS$1.4b8.3x10.4x1.3x
Tue, 29 Apr 2025S$13.9bS$10.7bS$1.4b7.6x10.2x1.3x
Thu, 27 Mar 2025S$13.8bS$10.8bS$1.4b7.6x10x1.3x
Sat, 22 Feb 2025S$12.8bS$10.8bS$1.2b8.7x10.3x1.2x
Mon, 20 Jan 2025S$12.5bS$10.8bS$1.2b9.1x10.1x1.2x
Wed, 18 Dec 2024S$12.0bS$10.8bS$1.2b8.2x9.7x1.1x
Fri, 15 Nov 2024S$11.4bS$10.8bS$1.3b9x9x1.1x
Sun, 13 Oct 2024S$12.4bS$10.8bS$1.3b6.4x9.9x1.1x
Tue, 10 Sep 2024S$11.1bS$10.8bS$1.3b6.4x8.7x1x
Thu, 08 Aug 2024S$11.0bS$10.9bS$1.3b5.9x8.3x1x
Sat, 06 Jul 2024S$11.2bS$11.3bS$1.4b8.3x8x1x
Mon, 03 Jun 2024S$11.8bS$11.4bS$1.4b7.1x8.4x1x
Wed, 01 May 2024S$12.0bS$10.8bS$1.4b8.9x8.8x1.1x
Fri, 29 Mar 2024S$11.9bS$10.8bS$1.4b8x8.7x1.1x
Sun, 25 Feb 2024S$11.7bS$11.0bS$1.5b4.5x8x1.1x
Tue, 23 Jan 2024S$14.7bS$13.7bS$1.4b7.4x10.4x1.1x
Thu, 21 Dec 2023S$14.2bS$13.7bS$1.4b7.2x10x1x
Sat, 18 Nov 2023S$14.0bS$13.7bS$1.4b6.6x9.9x1x
Mon, 16 Oct 2023S$13.4bS$13.7bS$1.4b6.5x9.5x1x
Wed, 13 Sep 2023S$14.3bS$13.7bS$1.4b7.2x10.2x1x
Fri, 11 Aug 2023S$15.8bS$13.7bS$1.4b4.9x11.6x1.2x
Sun, 09 Jul 2023S$14.8bS$13.8bS$1.1b6.7x13.7x1.1x
Tue, 06 Jun 2023S$14.6bS$13.8bS$1.1b7x13.6x1.1x
Thu, 04 May 2023S$13.1bS$13.8bS$1.1b5.1x12.3x0.9x
Sat, 01 Apr 2023S$12.7bS$13.8bS$1.1b4.7x11.8x0.9x
Mon, 27 Feb 2023S$11.8bS$14.0bS$1.1b11.2x11.2x0.8x
Price to Earnings Ratio

11.2x


Total Market Cap: S$11.8bTotal Earnings: S$1.1bTotal Revenue: S$14.0bTotal 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 13% per year over the last three years.
  • Meanwhile revenues for these companies have declined 9.3% 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-0.13%
Utilities0.42%
Water Utilities2.75%
Other Utilities0.46%
Gas Utilities0%0
Renewable Energy-4.08%
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 7.7x.
Forecasted Growth
  • Analysts are most optimistic on the Other Utilities industry, expecting annual earnings growth of 5.5% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Other Utilities industry is expected to see its earnings grow by 5.5% 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
U96 Sembcorp IndustriesS$6.340.5%
+S$53.3m		14.4%PE11.1x
5GD Sunpower GroupS$0.526.2%
+S$24.6m		102.0%PE16.9x
U9E China Everbright WaterS$0.262.0%
+S$14.3m		8.3%PE4.6x
BHK SIIC Environment HoldingsS$0.181.1%
+S$5.2m		21.7%PE4.1x

Latest News

BHK
S$0.18
SIIC Environment Holdings
7D
1.1%
1Y
21.7%
U96
S$6.34
Sembcorp Industries
7D
0.5%
1Y
14.4%

U96: India Renewables IPO And M&A Pipeline Will Support Future Returns

Analysts have slightly lowered their SGD price target for Sembcorp Industries to about SGD 7.10 from around SGD 7.13, citing updated assumptions for the discount rate, revenue growth and profit margins that result in a marginally reduced fair value estimate. What's in the News Sembcorp is reported to be among four shortlisted bidders, alongside Aditya Birla Group, NIIF and KKR, reviewing Sprng Energy as Shell evaluates options for the platform, with due diligence expected to run for 6 to 8 weeks (media reports).
BWM
S$0.58
Zheneng Jinjiang Environment Holding
7D
-4.1%
1Y
31.5%

The Returns At Zheneng Jinjiang Environment Holding (SGX:BWM) Aren't Growing

Feb 06
The Returns At Zheneng Jinjiang Environment Holding (SGX:BWM) Aren't Growing
U9E
S$0.26
China Everbright Water
7D
2.0%
1Y
8.3%
5GD
S$0.52
Sunpower Group
7D
6.2%
1Y
102.0%

Slowing Rates Of Return At Sunpower Group (SGX:5GD) Leave Little Room For Excitement

Jan 15
Slowing Rates Of Return At Sunpower Group (SGX:5GD) Leave Little Room For Excitement
YSV
S$0.11
Charisma Energy Services
7D
-5.1%
1Y
n/a