Analysis Article • Jul 09
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Singaporean (SGX) Utilities Sector Analysis
UpdatedAug 18, 2026
DataAggregated Company Financials
Companies10
- 7D5.0%
- 3M-2.1%
- 1Y0.7%
- YTD-2.3%
The Utilities industry is up 3.1% in the last week, with Sembcorp Industries up 6.6%. Meanwhile, Gallant Venture actually underperformed within the industry, shrinking 14% in the last week. In the past year, the industry is down 3.5%. 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 |
|---|---|---|---|---|---|---|
| Tue, 18 Aug 2026 | S$13.5b | S$10.6b | S$1.0b | 7.2x | 12.9x | 1.3x |
| Thu, 16 Jul 2026 | S$12.7b | S$9.9b | S$1.5b | 6.6x | 8.4x | 1.3x |
| Sat, 13 Jun 2026 | S$13.7b | S$9.8b | S$1.5b | 6.5x | 9.1x | 1.4x |
| Mon, 11 May 2026 | S$14.3b | S$9.8b | S$1.5b | 7.3x | 9.5x | 1.5x |
| Wed, 08 Apr 2026 | S$15.1b | S$9.8b | S$1.5b | 6.6x | 10.1x | 1.5x |
| Fri, 06 Mar 2026 | S$13.0b | S$9.8b | S$1.5b | 6.8x | 8.7x | 1.3x |
| Sun, 01 Feb 2026 | S$13.6b | S$10.4b | S$1.5b | 4.9x | 9x | 1.3x |
| Tue, 30 Dec 2025 | S$13.6b | S$10.4b | S$1.5b | 5.9x | 9x | 1.3x |
| Thu, 27 Nov 2025 | S$13.8b | S$10.4b | S$1.5b | 4.6x | 9.1x | 1.3x |
| Sat, 25 Oct 2025 | S$14.2b | S$10.4b | S$1.5b | 4.8x | 9.4x | 1.4x |
| Mon, 22 Sep 2025 | S$13.6b | S$10.4b | S$1.5b | 6.7x | 9x | 1.3x |
| Wed, 20 Aug 2025 | S$13.6b | S$10.3b | S$1.5b | 6.7x | 9x | 1.3x |
| Fri, 18 Jul 2025 | S$16.3b | S$10.6b | S$1.4b | 5.9x | 11.9x | 1.5x |
| Sun, 15 Jun 2025 | S$14.8b | S$10.6b | S$1.4b | 5.9x | 10.8x | 1.4x |
| Tue, 13 May 2025 | S$14.2b | S$10.7b | S$1.4b | 7.6x | 10.3x | 1.3x |
| Thu, 10 Apr 2025 | S$13.1b | S$10.8b | S$1.4b | 7.1x | 9.6x | 1.2x |
| Sat, 08 Mar 2025 | S$13.7b | S$10.8b | S$1.4b | 8.3x | 10.1x | 1.3x |
| Mon, 03 Feb 2025 | S$12.4b | S$10.8b | S$1.2b | 8.6x | 9.9x | 1.1x |
| Wed, 01 Jan 2025 | S$12.3b | S$10.8b | S$1.2b | 9x | 9.9x | 1.1x |
| Fri, 29 Nov 2024 | S$11.6b | S$10.8b | S$1.2b | 8.2x | 9.4x | 1.1x |
| Sun, 27 Oct 2024 | S$12.0b | S$10.8b | S$1.3b | 6.4x | 9.5x | 1.1x |
| Tue, 24 Sep 2024 | S$12.0b | S$10.8b | S$1.3b | 9.4x | 9.5x | 1.1x |
| Thu, 22 Aug 2024 | S$10.8b | S$10.8b | S$1.3b | 8.7x | 8.5x | 1x |
| Sat, 20 Jul 2024 | S$11.0b | S$11.3b | S$1.4b | 8.1x | 7.9x | 1x |
| Mon, 17 Jun 2024 | S$11.8b | S$11.4b | S$1.4b | 8.6x | 8.4x | 1x |
| Wed, 15 May 2024 | S$12.0b | S$10.7b | S$1.4b | 9.1x | 8.8x | 1.1x |
| Fri, 12 Apr 2024 | S$12.0b | S$10.8b | S$1.4b | 8x | 8.8x | 1.1x |
| Sun, 10 Mar 2024 | S$11.3b | S$10.7b | S$1.4b | 8.2x | 8.4x | 1.1x |
| Tue, 06 Feb 2024 | S$12.5b | S$11.6b | S$1.4b | 4.5x | 9.1x | 1.1x |
| Thu, 04 Jan 2024 | S$14.7b | S$13.7b | S$1.4b | 7.4x | 10.4x | 1.1x |
| Sat, 02 Dec 2023 | S$14.2b | S$13.7b | S$1.4b | 6.9x | 10x | 1x |
| Mon, 30 Oct 2023 | S$13.0b | S$13.7b | S$1.4b | 6.2x | 9.2x | 0.9x |
| Wed, 27 Sep 2023 | S$14.1b | S$13.7b | S$1.4b | 6.7x | 10x | 1x |
| Fri, 25 Aug 2023 | S$14.6b | 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 | 1.18% | |
| Utilities | 4.99% | |
| Gas Utilities | 12.67% | |
| Other Utilities | 5.91% | |
| Water Utilities | 2.70% | |
| Electric Utilities | 0% | 0 |
| Renewable Energy | -3.36% | |
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$6.08 | 7.4% +S$747.7m | -0.3% | PE18.1x | |
| 5GD Sunpower Group | S$0.58 | 5.4% +S$24.6m | 77.3% | PE7.2x | |
| U9E China Everbright Water | S$0.23 | 2.2% +S$14.3m | -11.5% | PE5.1x | |
| 1F2 Union Gas Holdings | S$0.49 | 10.0% +S$14.3m | 37.5% | PE8.6x |