Narrative Update • Aug 24
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Singaporean (SGX) Utilities Sector Analysis
UpdatedSep 11, 2026
DataAggregated Company Financials
Companies11
- 7D-1.4%
- 3M-0.4%
- 1Y0.02%
- YTD-1.1%
Over the last 7 days, the Utilities industry has dropped 1.4%, driven by a pullback from Sembcorp Industries of 1.3%. Meanwhile, Metis Energy actually outperformed within the industry, gaining 7.4% in the last week. Over the last year, the industry has been flat overall. Earnings are forecast to grow by 25% annually.
Sector Valuation and Performance
Has the Singaporean Utilities Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 11 Sep 2026 | S$13.8b | S$10.6b | S$1.0b | 7.2x | 13.3x | 1.3x |
| Sun, 09 Aug 2026 | S$13.0b | S$9.9b | S$1.5b | 6.8x | 8.9x | 1.3x |
| Tue, 07 Jul 2026 | S$13.0b | S$9.8b | S$1.5b | 6.6x | 8.6x | 1.3x |
| Thu, 04 Jun 2026 | S$14.0b | S$9.8b | S$1.5b | 6.5x | 9.4x | 1.4x |
| Sat, 02 May 2026 | S$14.8b | S$9.8b | S$1.5b | 6.9x | 9.9x | 1.5x |
| Mon, 30 Mar 2026 | S$14.5b | S$9.8b | S$1.5b | 7x | 9.7x | 1.5x |
| Wed, 25 Feb 2026 | S$14.3b | S$10.4b | S$1.5b | 10.2x | 9.5x | 1.4x |
| Fri, 23 Jan 2026 | S$13.5b | S$10.4b | S$1.5b | 4.7x | 8.9x | 1.3x |
| Sun, 21 Dec 2025 | S$13.3b | S$10.4b | S$1.5b | 5.9x | 8.8x | 1.3x |
| Tue, 18 Nov 2025 | S$14.2b | S$10.4b | S$1.5b | 5.9x | 9.4x | 1.4x |
| Thu, 16 Oct 2025 | S$14.0b | S$10.4b | S$1.5b | 4.9x | 9.3x | 1.3x |
| Sat, 13 Sep 2025 | S$13.7b | S$10.4b | S$1.5b | 6.7x | 9.1x | 1.3x |
| Mon, 11 Aug 2025 | S$14.6b | S$10.4b | S$1.4b | 6.4x | 10.2x | 1.4x |
| Wed, 09 Jul 2025 | S$15.8b | S$10.6b | S$1.4b | 7.6x | 11.6x | 1.5x |
| Fri, 06 Jun 2025 | S$14.4b | S$10.7b | S$1.4b | 8.4x | 10.5x | 1.3x |
| Sun, 04 May 2025 | S$14.1b | S$10.7b | S$1.4b | 7.6x | 10.4x | 1.3x |
| Tue, 01 Apr 2025 | S$13.8b | S$10.8b | S$1.4b | 7.6x | 10x | 1.3x |
| Thu, 27 Feb 2025 | S$12.9b | S$10.7b | S$1.2b | 8.9x | 10.6x | 1.2x |
| Sat, 25 Jan 2025 | S$12.3b | S$10.8b | S$1.2b | 8.7x | 9.9x | 1.1x |
| Mon, 23 Dec 2024 | S$11.9b | S$10.8b | S$1.2b | 8.2x | 9.6x | 1.1x |
| Wed, 20 Nov 2024 | S$11.7b | S$10.8b | S$1.2b | 8.2x | 9.4x | 1.1x |
| Fri, 18 Oct 2024 | S$12.4b | S$10.8b | S$1.3b | 6.4x | 9.8x | 1.1x |
| Sun, 15 Sep 2024 | S$11.6b | S$10.8b | S$1.3b | 9.1x | 9.2x | 1.1x |
| Tue, 13 Aug 2024 | S$10.8b | S$10.8b | S$1.3b | 5.9x | 8.3x | 1x |
| Thu, 11 Jul 2024 | S$11.3b | S$11.4b | S$1.4b | 8.4x | 8.1x | 1x |
| Sat, 08 Jun 2024 | S$11.7b | S$11.3b | S$1.4b | 8.6x | 8.4x | 1x |
| Mon, 06 May 2024 | S$11.9b | S$10.8b | S$1.4b | 9.2x | 8.7x | 1.1x |
| Wed, 03 Apr 2024 | S$11.9b | S$10.8b | S$1.4b | 8x | 8.7x | 1.1x |
| Fri, 01 Mar 2024 | S$11.7b | S$10.8b | S$1.4b | 6.4x | 8.4x | 1.1x |
| Sun, 28 Jan 2024 | S$14.9b | S$13.7b | S$1.4b | 7.5x | 10.5x | 1.1x |
| Tue, 26 Dec 2023 | S$14.2b | S$13.7b | S$1.4b | 7.2x | 10x | 1x |
| Thu, 23 Nov 2023 | S$14.0b | S$13.7b | S$1.4b | 6.7x | 9.8x | 1x |
| Sat, 21 Oct 2023 | S$12.9b | S$13.7b | S$1.4b | 6.3x | 9.2x | 0.9x |
| Mon, 18 Sep 2023 | S$14.4b | S$13.7b | S$1.4b | 7x | 10.2x | 1.1x |
Price to Earnings Ratio
10.2x
Current Industry PE
- Investors are optimistic on the Singaporean Utilities industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 13.3x which is higher than its 3-year average PE of 9.5x.
- 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 declined 9.7% per year over the last three years,
- Revenues have also declined 8.1% per year.
- This means overall sales from these companies are declining and profits are subsequently falling as well.
Industry Trends
Which industries have driven the changes within the Singaporean Utilities sector?
| SG Market | -0.83% | |
| Utilities | -1.41% | |
| Renewable Energy | 0.52% | |
| Electric Utilities | 0% | 0 |
| Gas Utilities | -0.96% | |
| Other Utilities | -1.55% | |
| Water Utilities | -1.61% | |
Industry PE
- Investors are most optimistic about the Other Utilities industry which is trading above its 3-year average PE ratio of 11.3x.
- Analysts are expecting annual earnings growth of 25.3%, which is higher than its past year's earnings decline of 41.3% per year.
- Investors are most pessimistic about the Water Utilities industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 4.4x.
Forecasted Growth
- Analysts are most optimistic on the Other Utilities industry, expecting annual earnings growth of 25% over the next 5 years.
- This is better than its past earnings decline of 41% per year.
- In contrast, the Water Utilities industry is expected to see its earnings grow by 16% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| L02 Metis Energy | S$0.032 | 28.0% +S$21.2m | 23.1% | PS11.8x | |
| 5CR Asiatic Group (Holdings) | S$0.003 | 50.0% +S$3.2m | 0% | PE20.5x | |
| 1F2 Union Gas Holdings | S$0.48 | 2.1% +S$3.2m | 28.0% | PE8.4x | |
| YSV Khen Energy | S$0.084 | 1.2% +S$273.2k | 12.0% | PE20.1x |