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Singaporean (SGX) Utilities Sector Analysis

UpdatedFeb 14, 2026
DataAggregated Company Financials
Companies11
  • 7D3.5%
  • 3M-0.5%
  • 1Y16.8%
  • YTD2.7%

In the last week, the Utilities industry is up 3.5%, with Sembcorp Industries up 3.3%. This means that the industry has gained 17% over the past year. Looking forward, 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
Sat, 14 Feb 2026S$14.2bS$10.4bS$1.5b6.1x9.4x1.4x
Mon, 12 Jan 2026S$13.5bS$10.4bS$1.5b5.9x8.9x1.3x
Wed, 10 Dec 2025S$13.3bS$10.4bS$1.5b5.9x8.8x1.3x
Fri, 07 Nov 2025S$14.1bS$10.4bS$1.5b6.7x9.3x1.4x
Sun, 05 Oct 2025S$13.9bS$10.4bS$1.5b6.7x9.2x1.3x
Tue, 02 Sep 2025S$13.6bS$10.4bS$1.5b6.7x9x1.3x
Thu, 31 Jul 2025S$16.2bS$10.7bS$1.4b5.8x11.8x1.5x
Sat, 28 Jun 2025S$14.7bS$10.6bS$1.4b8.1x10.7x1.4x
Mon, 26 May 2025S$14.2bS$10.7bS$1.4b7.6x10.3x1.3x
Wed, 23 Apr 2025S$13.7bS$10.7bS$1.4b7.5x10x1.3x
Fri, 21 Mar 2025S$13.7bS$10.8bS$1.4b7.6x10x1.3x
Sun, 16 Feb 2025S$12.1bS$10.8bS$1.2b8.7x9.8x1.1x
Tue, 14 Jan 2025S$12.3bS$10.8bS$1.2b8.7x9.8x1.1x
Thu, 12 Dec 2024S$12.4bS$10.8bS$1.2b8.3x10x1.1x
Sat, 09 Nov 2024S$11.4bS$10.8bS$1.3b6.4x9.1x1.1x
Mon, 07 Oct 2024S$12.6bS$10.8bS$1.3b6.4x10x1.2x
Wed, 04 Sep 2024S$11.1bS$10.8bS$1.3b9.2x8.7x1x
Fri, 02 Aug 2024S$11.1bS$11.3bS$1.4b5.9x8x1x
Sun, 30 Jun 2024S$11.3bS$11.4bS$1.4b8.4x8.1x1x
Tue, 28 May 2024S$11.8bS$10.7bS$1.4b9x8.6x1.1x
Thu, 25 Apr 2024S$12.1bS$10.8bS$1.4b9.5x8.9x1.1x
Sat, 23 Mar 2024S$11.7bS$10.8bS$1.4b8x8.6x1.1x
Mon, 19 Feb 2024S$12.7bS$11.6bS$1.4b4.5x9.3x1.1x
Wed, 17 Jan 2024S$15.1bS$13.7bS$1.4b7.6x10.6x1.1x
Fri, 15 Dec 2023S$14.1bS$13.7bS$1.4b6.9x9.9x1x
Sun, 12 Nov 2023S$13.9bS$13.6bS$1.4b6.7x9.8x1x
Tue, 10 Oct 2023S$13.5bS$13.7bS$1.4b6.5x9.6x1x
Thu, 07 Sep 2023S$14.2bS$13.7bS$1.4b7.2x10.1x1x
Sat, 05 Aug 2023S$15.2bS$13.9bS$1.1b6.2x13.7x1.1x
Mon, 03 Jul 2023S$15.6bS$13.8bS$1.1b7.2x14.5x1.1x
Wed, 31 May 2023S$14.0bS$13.8bS$1.1b7x13.1x1x
Fri, 28 Apr 2023S$12.5bS$13.8bS$1.1b6.5x11.7x0.9x
Sun, 26 Mar 2023S$12.6bS$13.8bS$1.1b6.9x11.7x0.9x
Tue, 21 Feb 2023S$12.0bS$15.3bS$1.0b11.3x11.7x0.8x
Price to Earnings Ratio

11.7x


Total Market Cap: S$12.0bTotal Earnings: S$1.0bTotal Revenue: S$15.3bTotal 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 14% per year over the last three years.
  • Meanwhile revenues for these companies have declined 12% 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 Market0.57%
Utilities3.47%
Renewable Energy9.75%
Other Utilities3.53%
Water Utilities0.16%
Gas Utilities0%0
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$6.253.3%
+S$355.6m		15.5%PE11x
BWM Zheneng Jinjiang Environment HoldingS$0.5810.5%
+S$78.9m		33.3%PE6.1x
5IG Gallant VentureS$0.0789.9%
+S$38.2m		-2.5%PE159.6x
BHK SIIC Environment HoldingsS$0.180.5%
+S$2.6m		22.7%PE4.1x

Latest News

BHK
S$0.18
SIIC Environment Holdings
7D
0.5%
1Y
22.7%
5IG
S$0.078
Gallant Venture
7D
9.9%
1Y
-2.5%

Gallant Venture (SGX:5IG) Might Have The Makings Of A Multi-Bagger

Feb 11
Gallant Venture (SGX:5IG) Might Have The Makings Of A Multi-Bagger
U96
S$6.25
Sembcorp Industries
7D
3.3%
1Y
15.5%

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
10.5%
1Y
33.3%

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
YSV
S$0.11
Charisma Energy Services
7D
-3.4%
1Y
n/a