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Singaporean (SGX) Utilities Sector Analysis

UpdatedDec 28, 2025
DataAggregated Company Financials
Companies11
  • 7D2.0%
  • 3M1.5%
  • 1Y12.1%
  • YTD10.6%

Over the last 7 days, the Utilities industry has risen 2.0%, driven by gains from Sembcorp Industries of 2.4%. This takes the industry's 12 month performance to a gain of 12%. Earnings are forecast to grow by 5.9% annually.

Sector Valuation and Performance

Has the Singaporean Utilities Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 28 Dec 2025S$13.6bS$10.4bS$1.5b5.9x9x1.3x
Tue, 25 Nov 2025S$13.9bS$10.4bS$1.5b4.5x9.1x1.3x
Thu, 23 Oct 2025S$14.2bS$10.4bS$1.5b4.7x9.4x1.4x
Sat, 20 Sep 2025S$13.7bS$10.4bS$1.5b6.7x9.1x1.3x
Mon, 18 Aug 2025S$13.7bS$10.3bS$1.5b6.7x9.1x1.3x
Wed, 16 Jul 2025S$16.1bS$10.6bS$1.4b5.9x11.7x1.5x
Fri, 13 Jun 2025S$14.6bS$10.6bS$1.4b7.6x10.7x1.4x
Sun, 11 May 2025S$14.2bS$10.7bS$1.4b7.6x10.4x1.3x
Tue, 08 Apr 2025S$12.7bS$10.8bS$1.4b7.1x9.2x1.2x
Thu, 06 Mar 2025S$13.7bS$10.8bS$1.4b7.6x10.1x1.3x
Sat, 01 Feb 2025S$12.4bS$10.8bS$1.2b8.6x9.9x1.1x
Mon, 30 Dec 2024S$12.1bS$10.8bS$1.2b9x9.8x1.1x
Wed, 27 Nov 2024S$11.6bS$10.8bS$1.2b8.2x9.3x1.1x
Fri, 25 Oct 2024S$12.2bS$10.8bS$1.3b6.4x9.6x1.1x
Sun, 22 Sep 2024S$12.0bS$10.8bS$1.3b9.4x9.5x1.1x
Tue, 20 Aug 2024S$10.7bS$10.8bS$1.3b8.7x8.4x1x
Thu, 18 Jul 2024S$11.2bS$11.3bS$1.4b5.9x8x1x
Sat, 15 Jun 2024S$11.8bS$11.4bS$1.4b8.6x8.4x1x
Mon, 13 May 2024S$11.9bS$10.8bS$1.4b9.1x8.7x1.1x
Wed, 10 Apr 2024S$12.2bS$10.8bS$1.4b8.3x8.9x1.1x
Fri, 08 Mar 2024S$11.3bS$10.7bS$1.4b7.5x8.3x1.1x
Sun, 04 Feb 2024S$12.7bS$11.6bS$1.4b4.5x9.3x1.1x
Tue, 02 Jan 2024S$14.6bS$13.7bS$1.4b7.4x10.3x1.1x
Thu, 30 Nov 2023S$14.1bS$13.7bS$1.4b6.8x9.9x1x
Sat, 28 Oct 2023S$13.0bS$13.7bS$1.4b6.2x9.2x0.9x
Mon, 25 Sep 2023S$14.1bS$13.7bS$1.4b6.7x10x1x
Wed, 23 Aug 2023S$14.6bS$13.7bS$1.4b7.3x10.4x1.1x
Fri, 21 Jul 2023S$15.4bS$13.7bS$1.1b8.2x14.4x1.1x
Sun, 18 Jun 2023S$15.3bS$13.8bS$1.1b7.1x14.3x1.1x
Tue, 16 May 2023S$13.5bS$13.8bS$1.1b7x12.6x1x
Thu, 13 Apr 2023S$12.5bS$13.8bS$1.1b4.7x11.6x0.9x
Sat, 11 Mar 2023S$12.0bS$13.8bS$1.1b9.2x11.1x0.9x
Mon, 06 Feb 2023S$11.8bS$15.3bS$1.0b9.2x11.5x0.8x
Wed, 04 Jan 2023S$11.3bS$15.1bS$1.1b9.2x10.7x0.7x
Price to Earnings Ratio

10.7x


Total Market Cap: S$11.3bTotal Earnings: S$1.1bTotal Revenue: S$15.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Singaporean Utilities Sector Price to Earnings3Y Average 10.1x20242025
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 Market1.19%
Utilities2.00%
Other Utilities2.09%
Renewable Energy2.01%
Water Utilities1.47%
Gas Utilities1.13%
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 8.0x.
Forecasted Growth
  • Analysts are most optimistic on the Other Utilities industry, expecting annual earnings growth of 5.9% 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 5.9% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
U96 Sembcorp IndustriesS$5.992.4%
+S$248.6m		9.9%PE10.5x
5GD Sunpower GroupS$0.615.1%
+S$24.0m		141.2%PE19.8x
BWM Zheneng Jinjiang Environment HoldingS$0.462.2%
+S$14.4m		7.0%PE4.8x
I11 Renaissance UnitedS$0.002100.0%
+S$6.2m		100.0%PS0.2x
BEH China International HoldingsS$0.0474.4%
+S$156.8k		-13.0%PS0.2x

Latest News

5GD
S$0.61
Sunpower Group
7D
5.1%
1Y
141.2%

Sunpower Group Ltd.'s (SGX:5GD) Shares Climb 28% But Its Business Is Yet to Catch Up

Dec 23
Sunpower Group Ltd.'s (SGX:5GD) Shares Climb 28% But Its Business Is Yet to Catch Up
U96
S$5.99
Sembcorp Industries
7D
2.4%
1Y
9.9%

U96: India Renewables IPO Will Drive Future Returns Despite Minor Assumption Trim

Analysts have slightly lowered their price target on Sembcorp Industries from S$7.43 to S$7.15, citing marginally softer assumptions on long term revenue growth, profit margins and future valuation multiples. What's in the News Sembcorp Industries is considering an IPO in Mumbai for its Indian renewables arm, Sembcorp Green Infra Limited, with Citi, HSBC and Axis Capital hired to advise on the deal (Reuters).
I11
S$0.002
Renaissance United
7D
100.0%
1Y
100.0%
5IG
S$0.085
Gallant Venture
7D
-4.5%
1Y
18.1%

Gallant Venture Ltd. (SGX:5IG) Might Not Be As Mispriced As It Looks After Plunging 29%

Nov 19
Gallant Venture Ltd. (SGX:5IG) Might Not Be As Mispriced As It Looks After Plunging 29%
BEH
S$0.047
China International Holdings
7D
4.4%
1Y
-13.0%
YSV
S$0.098
Charisma Energy Services
7D
-2.0%
1Y
n/a
1F2
S$0.36
Union Gas Holdings
7D
-4.0%
1Y
9.1%
BWM
S$0.46
Zheneng Jinjiang Environment Holding
7D
2.2%
1Y
7.0%

Zheneng Jinjiang Environment Holding Company Limited's (SGX:BWM) Subdued P/E Might Signal An Opportunity

Sep 26
Zheneng Jinjiang Environment Holding Company Limited's (SGX:BWM) Subdued P/E Might Signal An Opportunity