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Singaporean (SGX) Utilities Sector Analysis

UpdatedJun 22, 2026
DataAggregated Company Financials
Companies10
  • 7D2.5%
  • 3M-0.8%
  • 1Y-5.9%
  • YTD2.0%

The Utilities industry is up 2.5% in the last week, with Sembcorp Industries up 3.1%. In the past year, the industry is down 5.9%. As for the next few years, earnings are expected to grow by 8.9% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 22 Jun 2026S$14.1bS$9.9bS$1.5b6.5x9.4x1.4x
Wed, 20 May 2026S$13.8bS$9.9bS$1.5b6.9x9.2x1.4x
Fri, 17 Apr 2026S$15.6bS$9.8bS$1.5b7.2x10.4x1.6x
Sun, 15 Mar 2026S$13.2bS$9.8bS$1.5b6.8x8.8x1.3x
Tue, 10 Feb 2026S$13.8bS$10.4bS$1.5b5.9x9.1x1.3x
Thu, 08 Jan 2026S$13.7bS$10.4bS$1.5b4.6x9.1x1.3x
Sat, 06 Dec 2025S$13.5bS$10.4bS$1.5b5.9x8.9x1.3x
Mon, 03 Nov 2025S$14.4bS$10.4bS$1.5b6.7x9.5x1.4x
Wed, 01 Oct 2025S$13.4bS$10.4bS$1.5b6.7x8.9x1.3x
Fri, 29 Aug 2025S$13.5bS$10.4bS$1.5b6.7x8.9x1.3x
Sun, 27 Jul 2025S$16.3bS$10.6bS$1.4b5.9x11.9x1.5x
Tue, 24 Jun 2025S$14.7bS$10.7bS$1.4b5.8x10.7x1.4x
Thu, 22 May 2025S$14.4bS$10.7bS$1.4b7.6x10.5x1.4x
Sat, 19 Apr 2025S$13.7bS$10.7bS$1.4b5.6x10x1.3x
Mon, 17 Mar 2025S$13.0bS$10.8bS$1.4b7.6x9.5x1.2x
Wed, 12 Feb 2025S$11.9bS$10.8bS$1.2b8.6x9.6x1.1x
Fri, 10 Jan 2025S$12.5bS$10.8bS$1.2b8.7x10.1x1.2x
Sun, 08 Dec 2024S$12.4bS$10.8bS$1.2b9.3x10x1.2x
Tue, 05 Nov 2024S$11.6bS$10.8bS$1.3b6.4x9.2x1.1x
Thu, 03 Oct 2024S$12.4bS$10.8bS$1.3b6.4x9.9x1.1x
Sat, 31 Aug 2024S$11.0bS$10.8bS$1.3b8.9x8.7x1x
Mon, 29 Jul 2024S$10.8bS$11.3bS$1.4b5.9x7.7x1x
Wed, 26 Jun 2024S$11.7bS$11.4bS$1.4b8.8x8.4x1x
Fri, 24 May 2024S$11.8bS$10.7bS$1.4b9.1x8.6x1.1x
Sun, 21 Apr 2024S$11.9bS$10.8bS$1.4b9.3x8.7x1.1x
Tue, 19 Mar 2024S$11.4bS$10.7bS$1.4b8.3x8.4x1.1x
Thu, 15 Feb 2024S$12.3bS$11.6bS$1.4b4.5x9x1.1x
Sat, 13 Jan 2024S$14.9bS$13.7bS$1.4b7.5x10.5x1.1x
Mon, 11 Dec 2023S$13.7bS$13.7bS$1.4b6.6x9.7x1x
Wed, 08 Nov 2023S$14.4bS$13.6bS$1.4b6.8x10.1x1.1x
Fri, 06 Oct 2023S$14.1bS$13.7bS$1.4b6.6x10x1x
Sun, 03 Sep 2023S$14.8bS$13.7bS$1.4b7.6x10.5x1.1x
Tue, 01 Aug 2023S$15.0bS$13.9bS$1.1b6.4x13.6x1.1x
Thu, 29 Jun 2023S$15.2bS$13.8bS$1.1b6.2x14.2x1.1x
Price to Earnings Ratio

14.2x


Total Market Cap: S$15.2bTotal Earnings: S$1.1bTotal Revenue: S$13.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Singaporean Utilities Sector Price to Earnings3Y Average 9.7x202420252026
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 9.7x.
  • The 3-year average PS ratio of 1.2x 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 12% per year over the last three years.
  • Meanwhile revenues for these companies have declined 11% 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 Market2.64%
Utilities2.50%
Other Utilities2.96%
Renewable Energy2.86%
Water Utilities-0.76%
Gas Utilities-2.18%
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 7.2x.
Forecasted Growth
  • Analysts are most optimistic on the Water Utilities industry, expecting annual earnings growth of 9.5% over the next 5 years.
  • This is better than its past earnings growth rate of 0.9% per year.
  • In contrast, the Other Utilities industry is expected to see its earnings grow by 8.8% 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$6.362.4%
+S$267.0m		-7.2%PE11.5x
BHK SIIC Environment HoldingsS$0.171.8%
+S$7.7m		7.7%PE3.7x

Latest News

U96
S$6.36
Sembcorp Industries
7D
2.4%
1Y
-7.2%
Narrative Update • Jun 14

U96: Australia Energy Acquisition And Higher Dividends Will Support Future Returns

Analysts have nudged their SGD fair value estimate for Sembcorp Industries slightly higher, from SGD 6.94 to SGD 6.98, citing updated assumptions around revenue growth, profit margins and future P/E expectations. What's in the News Sembcorp Industries has completed its acquisition of Australian energy company Alinta Energy for A$6.5b (US$4.32b), adding 3.4GW of installed and contracted generation capacity across coal, wind, gas and solar, as well as access to almost 1.1 million electricity and gas customers in Australia.
1F2
S$0.41
Union Gas Holdings
7D
-8.9%
1Y
24.2%
YSV
S$0.09
Khen Energy
7D
-8.2%
1Y
36.4%
5CR
S$0.003
Asiatic Group (Holdings)
7D
-25.0%
1Y
50.0%
BEH
S$0.028
China International Holdings
7D
-20.0%
1Y
-17.6%
BWM
S$0.56
Zheneng Jinjiang Environment Holding
7D
-1.7%
1Y
27.0%
BHK
S$0.17
SIIC Environment Holdings
7D
1.8%
1Y
7.7%
U9E
S$0.21
China Everbright Water
7D
-4.4%
1Y
-10.4%
5IG
S$0.061
Gallant Venture
7D
-3.2%
1Y
-31.5%