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Singaporean (SGX) Utilities Sector Analysis

UpdatedJul 23, 2026
DataAggregated Company Financials
Companies10
  • 7D-1.9%
  • 3M-17.6%
  • 1Y-24.7%
  • YTD-9.4%

Over the last 7 days, the Utilities industry has dropped 1.9%, driven by a pullback from Sembcorp Industries of 2.3%. Overall the industry is down 25% in 12 months. Looking forward, earnings are forecast to grow by 7.3% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 23 Jul 2026S$12.5bS$9.9bS$1.5b6.4x8.3x1.3x
Sat, 20 Jun 2026S$14.1bS$9.9bS$1.5b6.5x9.4x1.4x
Mon, 18 May 2026S$13.8bS$9.8bS$1.5b7x9.2x1.4x
Wed, 15 Apr 2026S$15.2bS$9.8bS$1.5b7.1x10.2x1.6x
Fri, 13 Mar 2026S$13.2bS$9.8bS$1.5b6.9x8.8x1.3x
Sun, 08 Feb 2026S$13.7bS$10.4bS$1.5b5.9x9.1x1.3x
Tue, 06 Jan 2026S$13.7bS$10.4bS$1.5b4.7x9x1.3x
Thu, 04 Dec 2025S$13.6bS$10.4bS$1.5b5.9x9x1.3x
Sat, 01 Nov 2025S$14.4bS$10.4bS$1.5b6.7x9.5x1.4x
Mon, 29 Sep 2025S$13.4bS$10.4bS$1.5b6.7x8.9x1.3x
Wed, 27 Aug 2025S$13.6bS$10.4bS$1.5b6.7x9.1x1.3x
Fri, 25 Jul 2025S$16.5bS$10.6bS$1.4b5.9x12.1x1.6x
Sun, 22 Jun 2025S$14.9bS$10.7bS$1.4b5.3x10.9x1.4x
Tue, 20 May 2025S$14.3bS$10.7bS$1.4b7.6x10.4x1.3x
Thu, 17 Apr 2025S$13.6bS$10.7bS$1.4b5.6x10x1.3x
Sat, 15 Mar 2025S$13.0bS$10.8bS$1.4b7.6x9.5x1.2x
Mon, 10 Feb 2025S$12.2bS$10.8bS$1.2b8.9x9.8x1.1x
Wed, 08 Jan 2025S$12.4bS$10.8bS$1.2b9.1x10x1.1x
Fri, 06 Dec 2024S$12.5bS$10.8bS$1.2b9.3x10.1x1.2x
Sun, 03 Nov 2024S$11.4bS$10.8bS$1.3b6.4x9x1.1x
Tue, 01 Oct 2024S$12.4bS$10.8bS$1.3b6.4x9.9x1.2x
Thu, 29 Aug 2024S$10.6bS$10.8bS$1.3b8.8x8.4x1x
Sat, 27 Jul 2024S$10.8bS$11.3bS$1.4b5.9x7.7x1x
Mon, 24 Jun 2024S$11.8bS$11.4bS$1.4b8.6x8.4x1x
Wed, 22 May 2024S$11.8bS$10.7bS$1.4b9.1x8.7x1.1x
Fri, 19 Apr 2024S$12.0bS$10.8bS$1.4b9.1x8.7x1.1x
Sun, 17 Mar 2024S$11.4bS$10.7bS$1.4b8.3x8.4x1.1x
Tue, 13 Feb 2024S$12.2bS$11.6bS$1.4b4.5x8.9x1.1x
Thu, 11 Jan 2024S$15.0bS$13.7bS$1.4b7.6x10.5x1.1x
Sat, 09 Dec 2023S$13.7bS$13.7bS$1.4b6.6x9.7x1x
Mon, 06 Nov 2023S$13.6bS$13.7bS$1.4b6.6x9.7x1x
Wed, 04 Oct 2023S$14.1bS$13.7bS$1.4b6.5x10x1x
Fri, 01 Sep 2023S$14.8bS$13.7bS$1.4b7.7x10.6x1.1x
Sun, 30 Jul 2023S$15.2bS$13.9bS$1.1b6.4x13.7x1.1x
Price to Earnings Ratio

13.7x


Total Market Cap: S$15.2bTotal Earnings: S$1.1bTotal Revenue: S$13.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Singaporean Utilities Sector Price to Earnings3Y Average 9.6x202420252026
Current Industry PE
  • Investors are pessimistic on the Singaporean Utilities industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 8.3x which is lower than its 3-year average PE of 9.6x.
  • 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 grown 11% 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 Market0.73%
Utilities-1.89%
Gas Utilities2.41%
Water Utilities1.64%
Other Utilities-2.21%
Renewable Energy-4.73%
Industry PE
  • Investors are most optimistic about the Gas Utilities industry even though it's trading below its 3-year average PE ratio of 39.9x.
    • 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 7.1x.
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 7.1% 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
BHK SIIC Environment HoldingsS$0.173.7%
+S$15.5m		3.7%PE3.7x
U9E China Everbright WaterS$0.232.2%
+S$14.3m		-4.2%PE4.7x
5IG Gallant VentureS$0.061.7%
+S$5.5m		-39.4%PE30.8x
1F2 Union Gas HoldingsS$0.412.5%
+S$3.2m		11.0%PE12.2x
YSV Khen EnergyS$0.0796.8%
+S$1.4m		-11.2%PE0.4x

Latest News

BEH
S$0.025
China International Holdings
7D
-41.9%
1Y
-30.6%
U9E
S$0.23
China Everbright Water
7D
2.2%
1Y
-4.2%
U96
S$5.44
Sembcorp Industries
7D
-2.3%
1Y
-30.6%
Narrative Update • Jul 16

U96: Higher Regular Dividends Will Support Future Total Returns

The analyst price target for Sembcorp Industries has been adjusted slightly from SGD 6.98 to SGD 6.77, reflecting updated views on revenue growth, profit margin, and future P/E assumptions by analysts. What’s in the News for Sembcorp Industries Sembcorp Industries approved a final dividend of 16.0 cents per share at its annual general meeting held on April 29, 2026.
5CR
S$0.002
Asiatic Group (Holdings)
7D
-50.0%
1Y
-33.3%
BWM
S$0.57
Zheneng Jinjiang Environment Holding
7D
-5.0%
1Y
25.3%
Analysis Article • Jul 09

Is Now The Time To Put Zheneng Jinjiang Environment Holding (SGX:BWM) On Your Watchlist?

For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...
1F2
S$0.41
Union Gas Holdings
7D
2.5%
1Y
11.0%
5GD
S$0.51
Sunpower Group
7D
-1.0%
1Y
110.4%
YSV
S$0.079
Khen Energy
7D
6.8%
1Y
-11.2%
BHK
S$0.17
SIIC Environment Holdings
7D
3.7%
1Y
3.7%
5IG
S$0.06
Gallant Venture
7D
1.7%
1Y
-39.4%