Analysis Article • Jul 09
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Singaporean (SGX) Utilities Sector Analysis
UpdatedAug 17, 2026
DataAggregated Company Financials
Companies10
- 7D3.1%
- 3M-3.8%
- 1Y-3.5%
- YTD-4.0%
In the last week, the Utilities industry is up 3.1%, with Sembcorp Industries up 6.6%. In the same time, Gallant Venture was down 14%. In contrast, the industry has lost 3.5% in the last 12 months. As for the next few years, earnings are expected to grow by 24% per annum.
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 |
|---|---|---|---|---|---|---|
| Mon, 17 Aug 2026 | S$13.2b | S$10.6b | S$1.0b | 7x | 12.7x | 1.2x |
| Wed, 15 Jul 2026 | S$12.6b | S$9.9b | S$1.5b | 6.6x | 8.4x | 1.3x |
| Fri, 12 Jun 2026 | S$13.7b | S$9.8b | S$1.5b | 6.4x | 9.1x | 1.4x |
| Sun, 10 May 2026 | S$14.3b | S$9.8b | S$1.5b | 7.3x | 9.5x | 1.5x |
| Tue, 07 Apr 2026 | S$15.0b | S$9.8b | S$1.5b | 6.8x | 10x | 1.5x |
| Thu, 05 Mar 2026 | S$13.1b | S$9.8b | S$1.5b | 6.9x | 8.8x | 1.3x |
| Sat, 31 Jan 2026 | S$13.6b | S$10.4b | S$1.5b | 4.9x | 9x | 1.3x |
| Mon, 29 Dec 2025 | S$13.6b | S$10.4b | S$1.5b | 5.9x | 9x | 1.3x |
| Wed, 26 Nov 2025 | S$13.8b | S$10.4b | S$1.5b | 4.5x | 9.1x | 1.3x |
| Fri, 24 Oct 2025 | S$14.2b | S$10.4b | S$1.5b | 4.8x | 9.4x | 1.4x |
| Sun, 21 Sep 2025 | S$13.6b | S$10.4b | S$1.5b | 6.7x | 9x | 1.3x |
| Tue, 19 Aug 2025 | S$13.4b | S$10.3b | S$1.5b | 6.7x | 8.9x | 1.3x |
| Thu, 17 Jul 2025 | S$16.3b | S$10.6b | S$1.4b | 5.8x | 11.9x | 1.5x |
| Sat, 14 Jun 2025 | S$14.8b | S$10.6b | S$1.4b | 5.9x | 10.8x | 1.4x |
| Mon, 12 May 2025 | S$14.2b | S$10.7b | S$1.4b | 7.6x | 10.4x | 1.3x |
| Wed, 09 Apr 2025 | S$13.5b | S$10.8b | S$1.4b | 7.2x | 9.8x | 1.2x |
| Fri, 07 Mar 2025 | S$13.7b | S$10.8b | S$1.4b | 8x | 10.1x | 1.3x |
| Sun, 02 Feb 2025 | S$12.4b | S$10.8b | S$1.2b | 8.6x | 9.9x | 1.1x |
| Tue, 31 Dec 2024 | S$12.3b | S$10.8b | S$1.2b | 8.9x | 9.9x | 1.1x |
| Thu, 28 Nov 2024 | S$11.6b | S$10.8b | S$1.2b | 8.2x | 9.3x | 1.1x |
| Sat, 26 Oct 2024 | S$12.0b | S$10.8b | S$1.3b | 6.4x | 9.5x | 1.1x |
| Mon, 23 Sep 2024 | S$12.0b | S$10.8b | S$1.3b | 9.4x | 9.5x | 1.1x |
| Wed, 21 Aug 2024 | S$10.8b | S$10.8b | S$1.3b | 8.7x | 8.5x | 1x |
| Fri, 19 Jul 2024 | S$11.1b | S$11.3b | S$1.4b | 5.9x | 7.9x | 1x |
| Sun, 16 Jun 2024 | S$11.8b | S$11.4b | S$1.4b | 8.6x | 8.4x | 1x |
| Tue, 14 May 2024 | S$11.8b | S$10.8b | S$1.4b | 9x | 8.7x | 1.1x |
| Thu, 11 Apr 2024 | S$12.2b | S$10.8b | S$1.4b | 8.3x | 8.9x | 1.1x |
| Sat, 09 Mar 2024 | S$11.3b | S$10.7b | S$1.4b | 8.2x | 8.4x | 1.1x |
| Mon, 05 Feb 2024 | S$12.7b | S$11.6b | S$1.4b | 4.5x | 9.3x | 1.1x |
| Wed, 03 Jan 2024 | S$14.7b | S$13.7b | S$1.4b | 7.4x | 10.4x | 1.1x |
| Fri, 01 Dec 2023 | S$14.1b | S$13.7b | S$1.4b | 6.8x | 9.9x | 1x |
| Sun, 29 Oct 2023 | S$13.0b | S$13.7b | S$1.4b | 6.2x | 9.2x | 0.9x |
| Tue, 26 Sep 2023 | S$14.2b | S$13.7b | S$1.4b | 6.7x | 10.1x | 1x |
| Thu, 24 Aug 2023 | S$14.5b | S$13.7b | S$1.4b | 7.3x | 10.4x | 1.1x |
Price to Earnings Ratio
10.4x
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 12.7x 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 | 0.75% | |
| Utilities | 3.11% | |
| Gas Utilities | 12.67% | |
| Other Utilities | 3.55% | |
| Water Utilities | 1.45% | |
| Electric Utilities | 0% | 0 |
| Renewable Energy | -0.84% | |
Industry PE
- Investors are most optimistic about the Other Utilities industry which is trading above its 3-year average PE ratio of 11.1x.
- Analysts are expecting annual earnings growth of 25.0%, 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 | |
|---|---|---|---|---|---|
| U96 Sembcorp Industries | S$5.97 | 6.6% +S$658.7m | -0.7% | PE17.8x | |
| 5GD Sunpower Group | S$0.59 | 8.3% +S$37.0m | 84.4% | PE7.2x | |
| U9E China Everbright Water | S$0.23 | 2.2% +S$14.3m | -9.8% | PE5.1x | |
| 1F2 Union Gas Holdings | S$0.49 | 8.9% +S$12.7m | 36.1% | PE8.5x | |
| I11 Renaissance United | S$0.002 | 100.0% +S$6.2m | 100.0% | PS0.1x |