Narrative Update • Aug 24
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Singaporean (SGX) Utilities Sector Analysis
UpdatedSep 02, 2026
DataAggregated Company Financials
Companies10
- 7D0.3%
- 3M-2.7%
- 1Y0.1%
- YTD-0.9%
The Utilities is pretty flat in the last 7 days, but Zheneng Jinjiang Environment Holding has stood out, gaining 3.4%. In line with that, the industry has also been flat over the past 12 months. Looking forward, 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 |
|---|---|---|---|---|---|---|
| Wed, 02 Sep 2026 | S$13.7b | S$10.6b | S$1.0b | 7.2x | 13.1x | 1.3x |
| Fri, 31 Jul 2026 | S$12.8b | S$9.9b | S$1.5b | 7.1x | 8.4x | 1.3x |
| Sun, 28 Jun 2026 | S$14.2b | S$9.8b | S$1.5b | 6.3x | 9.5x | 1.4x |
| Tue, 26 May 2026 | S$14.0b | S$9.8b | S$1.5b | 6.8x | 9.3x | 1.4x |
| Thu, 23 Apr 2026 | S$15.2b | S$9.8b | S$1.5b | 7x | 10.2x | 1.6x |
| Sat, 21 Mar 2026 | S$13.9b | S$9.8b | S$1.5b | 6.9x | 9.3x | 1.4x |
| Mon, 16 Feb 2026 | S$14.2b | S$10.4b | S$1.5b | 6.1x | 9.4x | 1.4x |
| Wed, 14 Jan 2026 | S$13.6b | S$10.4b | S$1.5b | 5.9x | 9x | 1.3x |
| Fri, 12 Dec 2025 | S$13.2b | S$10.4b | S$1.5b | 4.8x | 8.7x | 1.3x |
| Sun, 09 Nov 2025 | S$14.1b | S$10.4b | S$1.5b | 6.7x | 9.3x | 1.3x |
| Tue, 07 Oct 2025 | S$13.9b | S$10.4b | S$1.5b | 6.7x | 9.2x | 1.3x |
| Thu, 04 Sep 2025 | S$13.7b | S$10.4b | S$1.5b | 6.7x | 9.1x | 1.3x |
| Sat, 02 Aug 2025 | S$16.1b | S$10.7b | S$1.4b | 5.7x | 11.7x | 1.5x |
| Mon, 30 Jun 2025 | S$14.7b | S$10.6b | S$1.4b | 8.1x | 10.7x | 1.4x |
| Wed, 28 May 2025 | S$14.5b | S$10.7b | S$1.4b | 7.6x | 10.6x | 1.4x |
| Fri, 25 Apr 2025 | S$13.9b | S$10.7b | S$1.4b | 7.2x | 10.2x | 1.3x |
| Sun, 23 Mar 2025 | S$13.8b | S$10.8b | S$1.4b | 7.6x | 10.1x | 1.3x |
| Tue, 18 Feb 2025 | S$12.1b | S$10.8b | S$1.2b | 8.7x | 9.8x | 1.1x |
| Thu, 16 Jan 2025 | S$12.3b | S$10.8b | S$1.2b | 9x | 9.9x | 1.1x |
| Sat, 14 Dec 2024 | S$12.3b | S$10.8b | S$1.2b | 8.2x | 9.9x | 1.1x |
| Mon, 11 Nov 2024 | S$11.4b | S$10.8b | S$1.3b | 6.4x | 9x | 1.1x |
| Wed, 09 Oct 2024 | S$12.4b | S$10.8b | S$1.3b | 6.4x | 9.8x | 1.1x |
| Fri, 06 Sep 2024 | S$10.9b | S$10.8b | S$1.3b | 6.4x | 8.6x | 1x |
| Sun, 04 Aug 2024 | S$10.8b | S$11.3b | S$1.4b | 5.9x | 7.8x | 1x |
| Tue, 02 Jul 2024 | S$11.4b | S$11.4b | S$1.4b | 8.5x | 8.1x | 1x |
| Thu, 30 May 2024 | S$11.8b | S$10.7b | S$1.4b | 9.1x | 8.7x | 1.1x |
| Sat, 27 Apr 2024 | S$12.1b | S$10.8b | S$1.4b | 9.3x | 8.9x | 1.1x |
| Mon, 25 Mar 2024 | S$11.7b | S$10.8b | S$1.4b | 8x | 8.6x | 1.1x |
| Wed, 21 Feb 2024 | S$12.7b | S$11.0b | S$1.5b | 4.5x | 8.7x | 1.2x |
| Fri, 19 Jan 2024 | S$14.9b | S$13.7b | S$1.4b | 7.4x | 10.4x | 1.1x |
| Sun, 17 Dec 2023 | S$14.2b | S$13.7b | S$1.4b | 6.8x | 10x | 1x |
| Tue, 14 Nov 2023 | S$13.9b | S$13.6b | S$1.4b | 6.7x | 9.8x | 1x |
| Thu, 12 Oct 2023 | S$13.6b | S$13.7b | S$1.4b | 6.6x | 9.7x | 1x |
| Sat, 09 Sep 2023 | S$14.3b | S$13.7b | S$1.4b | 7.1x | 10.2x | 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 12.9x 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 9.4% per year over the last three years,
- Revenues have also declined 8.0% 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 | -0.53% | |
| Utilities | 0.33% | |
| Renewable Energy | 3.36% | |
| Gas Utilities | 2.90% | |
| Other Utilities | 0.36% | |
| Electric Utilities | 0% | 0 |
| Water Utilities | -1.78% | |
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 4.3x.
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 | |
|---|---|---|---|---|---|
| BWM Zheneng Jinjiang Environment Holding | S$0.60 | 3.4% +S$28.7m | 31.9% | PE5.5x | |
| 5IG Gallant Venture | S$0.058 | 7.4% +S$21.9m | -29.3% | PS1.4x | |
| U96 Sembcorp Industries | S$6.06 | 0.2% +S$17.8m | -1.0% | PE18x | |
| I11 Renaissance United | S$0.002 | 100.0% +S$6.2m | 0% | PS0.1x | |
| 5CR Asiatic Group (Holdings) | S$0.003 | 50.0% +S$3.2m | 0% | PE20.5x |