Narrative Update • Jul 16
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Singaporean (SGX) Utilities Sector Analysis
UpdatedJul 31, 2026
DataAggregated Company Financials
Companies11
- 7D3.7%
- 3M-14.4%
- 1Y-22.8%
- YTD-8.0%
Over the last 7 days, the Utilities industry has risen 1.7%, driven by gains from Sembcorp Industries of 4.7%. However, the industry is down 22% over the past year. Looking forward, earnings are forecast to grow by 7.4% 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 |
|---|---|---|---|---|---|---|
| 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 |
| Mon, 07 Aug 2023 | S$15.2b | S$13.7b | S$1.3b | 6.2x | 11.5x | 1.1x |
Price to Earnings Ratio
11.5x
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 8.4x which is lower 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 grown 4.7% per year over the last three years.
- Meanwhile revenues for these companies have declined 10% 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 | 1.31% | |
| Utilities | 3.73% | |
| Other Utilities | 4.68% | |
| Water Utilities | 0.45% | |
| Electric Utilities | 0% | 0 |
| Gas Utilities | 0% | 0 |
| Renewable Energy | -0.85% | |
Industry PE
- Investors are most optimistic about the Gas Utilities industry even though it's trading below its 3-year average PE ratio of 51.0x.
- 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 7.1x.
Forecasted Growth
- Analysts are most optimistic on the Water Utilities industry, expecting annual earnings growth of 9.5% over the next 5 years.
- This is better than its past earnings growth rate of 0.9% per year.
- In contrast, the Other Utilities industry is expected to see its earnings grow by 7.3% 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$5.54 | 4.7% +S$445.0m | -28.6% | PE10x | |
| 5IG Gallant Venture | S$0.062 | 3.3% +S$10.9m | -27.1% | PE31.8x | |
| 5GD Sunpower Group | S$0.52 | 1.0% +S$4.1m | 119.1% | PE7.1x | |
| 5CR Asiatic Group (Holdings) | S$0.003 | 50.0% +S$3.2m | 0% | PS0.5x | |
| BHK SIIC Environment Holdings | S$0.16 | 0.6% +S$2.6m | -1.8% | PE3.6x |