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Singaporean (SGX) Utilities Sector Analysis
UpdatedJan 24, 2026
DataAggregated Company Financials
Companies11
- 7D-1.4%
- 3M-5.0%
- 1Y9.6%
- YTD-1.6%
Over the last 7 days, the Utilities industry has dropped 1.4%, driven by a pullback from Sembcorp Industries of 2.1%. Meanwhile, Zheneng Jinjiang Environment Holding actually outperformed within the industry, gaining 5.6% in the last week. This takes the industry's 12 month performance to a gain of 9.6%. As for the next few years, earnings are expected to grow by 5.5% 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 |
|---|---|---|---|---|---|---|
| Sun, 25 Jan 2026 | S$13.6b | S$10.4b | S$1.5b | 5x | 9x | 1.3x |
| Tue, 23 Dec 2025 | S$13.5b | S$10.4b | S$1.5b | 5.9x | 8.9x | 1.3x |
| Thu, 20 Nov 2025 | S$13.9b | S$10.4b | S$1.5b | 5.9x | 9.1x | 1.3x |
| Sat, 18 Oct 2025 | S$13.8b | S$10.4b | S$1.5b | 4.8x | 9.1x | 1.3x |
| Mon, 15 Sep 2025 | S$13.7b | S$10.4b | S$1.5b | 6.7x | 9.1x | 1.3x |
| Wed, 13 Aug 2025 | S$14.0b | S$10.4b | S$1.4b | 6.4x | 9.7x | 1.3x |
| Fri, 11 Jul 2025 | S$15.9b | S$10.6b | S$1.4b | 7.6x | 11.6x | 1.5x |
| Sun, 08 Jun 2025 | S$14.7b | S$10.7b | S$1.4b | 8.3x | 10.7x | 1.4x |
| Tue, 06 May 2025 | S$14.2b | S$10.7b | S$1.4b | 7.6x | 10.4x | 1.3x |
| Thu, 03 Apr 2025 | S$14.1b | S$10.8b | S$1.4b | 7.6x | 10.3x | 1.3x |
| Sat, 01 Mar 2025 | S$13.3b | S$10.8b | S$1.3b | 7.6x | 10.2x | 1.2x |
| Mon, 27 Jan 2025 | S$12.3b | S$10.8b | S$1.2b | 8.7x | 9.9x | 1.1x |
| Wed, 25 Dec 2024 | S$12.1b | S$10.8b | S$1.2b | 8.9x | 9.7x | 1.1x |
| Fri, 22 Nov 2024 | S$11.8b | S$10.8b | S$1.2b | 8.7x | 9.5x | 1.1x |
| Sun, 20 Oct 2024 | S$12.4b | S$10.8b | S$1.3b | 6.4x | 9.8x | 1.1x |
| Tue, 17 Sep 2024 | S$11.4b | S$10.8b | S$1.3b | 9.1x | 9.1x | 1.1x |
| Thu, 15 Aug 2024 | S$10.5b | S$10.8b | S$1.3b | 8.6x | 8.1x | 1x |
| Sat, 13 Jul 2024 | S$11.3b | S$11.3b | S$1.4b | 8.4x | 8.1x | 1x |
| Mon, 10 Jun 2024 | S$11.7b | S$11.4b | S$1.4b | 8.6x | 8.4x | 1x |
| Wed, 08 May 2024 | S$11.8b | S$10.8b | S$1.4b | 9.1x | 8.6x | 1.1x |
| Fri, 05 Apr 2024 | S$12.2b | S$10.8b | S$1.4b | 8x | 8.9x | 1.1x |
| Sun, 03 Mar 2024 | S$11.4b | S$10.8b | S$1.4b | 8.3x | 8.4x | 1.1x |
| Tue, 30 Jan 2024 | S$14.9b | S$13.7b | S$1.4b | 7.5x | 10.5x | 1.1x |
| Thu, 28 Dec 2023 | S$14.2b | S$13.6b | S$1.4b | 6.9x | 10x | 1x |
| Sat, 25 Nov 2023 | S$14.0b | S$13.7b | S$1.4b | 6.8x | 9.9x | 1x |
| Mon, 23 Oct 2023 | S$12.9b | S$13.7b | S$1.4b | 6.3x | 9.2x | 0.9x |
| Wed, 20 Sep 2023 | S$14.4b | S$13.7b | S$1.4b | 6.9x | 10.2x | 1.1x |
| Fri, 18 Aug 2023 | S$15.1b | S$13.7b | S$1.4b | 7.3x | 10.8x | 1.1x |
| Sun, 16 Jul 2023 | S$14.8b | S$13.7b | S$1.1b | 7x | 13.9x | 1.1x |
| Tue, 13 Jun 2023 | S$14.8b | S$13.8b | S$1.1b | 7.1x | 13.9x | 1.1x |
| Thu, 11 May 2023 | S$13.4b | S$13.8b | S$1.1b | 6.8x | 12.6x | 1x |
| Sat, 08 Apr 2023 | S$12.9b | S$13.8b | S$1.1b | 6.8x | 12x | 0.9x |
| Mon, 06 Mar 2023 | S$11.9b | S$13.9b | S$1.1b | 9.2x | 10.7x | 0.9x |
| Wed, 01 Feb 2023 | S$11.9b | S$15.1b | S$1.0b | 9.2x | 11.3x | 0.8x |
Price to Earnings Ratio
11.3x
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 9.0x which is lower than its 3-year average PE of 10.1x.
- The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.3x.
Past Earnings Growth
- The earnings for companies in the Utilities industry have grown 13% 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 Market | 0.84% | |
| Utilities | -1.44% | |
| Renewable Energy | 4.90% | |
| Gas Utilities | 1.30% | |
| Water Utilities | 1.22% | |
| Other Utilities | -2.23% | |
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 7.8x.
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?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| BWM Zheneng Jinjiang Environment Holding | S$0.47 | 5.6% +S$35.9m | 5.6% | PE5x | |
| U9E China Everbright Water | S$0.26 | 2.0% +S$14.3m | 10.6% | PE4.5x | |
| 5GD Sunpower Group | S$0.51 | 2.0% +S$8.2m | 110.4% | PE16.7x | |
| 1F2 Union Gas Holdings | S$0.37 | 1.4% +S$1.6m | 15.6% | PE10.1x | |
| YSV Charisma Energy Services | S$0.14 | 3.8% +S$1.4m | n/a | PE0.7x |
