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Taiwanese (TAIEX) Utilities Sector Analysis

UpdatedMar 07, 2026
DataAggregated Company Financials
Companies21
  • 7D2.9%
  • 3M7.7%
  • 1Y-23.0%
  • YTD6.7%

The Utilities industry is up 2.9% in the last week, with Shin Shin Natural Gas up 36%. Meanwhile, HD Renewable Energy actually underperformed within the industry, shrinking 7.8% in the last week. In contrast, the industry has lost 23% in the last 12 months. Earnings are forecast to grow by 69% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 07 Mar 2026NT$173.8bNT$93.0b-NT$3,846,248,000.0018.9x-45.2x1.9x
Mon, 02 Feb 2026NT$167.7bNT$90.2b-NT$4,175,537,000.0018.5x-40.2x1.9x
Wed, 31 Dec 2025NT$153.9bNT$90.2b-NT$4,175,537,000.0018.4x-36.9x1.7x
Fri, 28 Nov 2025NT$157.6bNT$89.8b-NT$4,185,836,000.0018.8x-37.6x1.8x
Sun, 26 Oct 2025NT$175.9bNT$84.6bNT$4.1b19.5x42.7x2.1x
Tue, 23 Sep 2025NT$175.7bNT$84.6bNT$4.1b19.5x42.7x2.1x
Thu, 21 Aug 2025NT$186.2bNT$83.4bNT$4.1b19.3x45.5x2.2x
Sat, 19 Jul 2025NT$201.3bNT$77.8bNT$8.2b23.1x24.6x2.6x
Mon, 16 Jun 2025NT$208.5bNT$76.8bNT$8.2b23.5x25.6x2.7x
Wed, 14 May 2025NT$201.4bNT$75.3bNT$8.3b22.4x24.2x2.7x
Fri, 11 Apr 2025NT$177.5bNT$71.7bNT$8.3b18.9x21.3x2.5x
Sun, 09 Mar 2025NT$205.8bNT$63.8bNT$7.3b26x28.3x3.2x
Tue, 04 Feb 2025NT$201.7bNT$63.5bNT$7.3b25.9x27.8x3.2x
Thu, 02 Jan 2025NT$205.2bNT$63.5bNT$7.3b26.1x28.3x3.2x
Sat, 30 Nov 2024NT$207.9bNT$63.5bNT$7.3b26.4x28.6x3.3x
Mon, 28 Oct 2024NT$240.0bNT$60.6bNT$7.2b29.5x33.4x4x
Wed, 25 Sep 2024NT$217.5bNT$58.3bNT$7.0b25.7x31x3.7x
Fri, 23 Aug 2024NT$202.2bNT$57.4bNT$6.9b24.1x29.5x3.5x
Sun, 21 Jul 2024NT$222.5bNT$55.2bNT$6.9b26.8x32.4x4x
Tue, 18 Jun 2024NT$184.3bNT$55.2bNT$6.9b22.9x26.8x3.3x
Thu, 16 May 2024NT$178.9bNT$53.9bNT$7.0b22x25.7x3.3x
Sat, 13 Apr 2024NT$185.8bNT$52.7bNT$7.3b22.1x25.5x3.5x
Mon, 11 Mar 2024NT$178.3bNT$55.0bNT$7.7b20.8x23.3x3.2x
Wed, 07 Feb 2024NT$157.9bNT$51.4bNT$7.4b20.9x21.4x3.1x
Fri, 05 Jan 2024NT$153.7bNT$51.4bNT$7.4b19.3x20.8x3x
Sun, 03 Dec 2023NT$152.8bNT$51.4bNT$7.4b19.3x20.7x3x
Tue, 31 Oct 2023NT$149.2bNT$48.2bNT$7.2b18.1x20.7x3.1x
Thu, 28 Sep 2023NT$154.6bNT$49.2bNT$7.3b17.2x21.3x3.1x
Sat, 26 Aug 2023NT$151.2bNT$48.2bNT$7.2b18.9x21x3.1x
Mon, 24 Jul 2023NT$162.3bNT$45.3bNT$5.9b24.7x27.4x3.6x
Wed, 21 Jun 2023NT$169.4bNT$44.9bNT$5.9b23.3x28.7x3.8x
Fri, 19 May 2023NT$161.5bNT$44.3bNT$5.3b25.6x30.5x3.6x
Sun, 16 Apr 2023NT$156.0bNT$43.5bNT$5.3b25.5x29.4x3.6x
Tue, 14 Mar 2023NT$150.9bNT$40.1bNT$4.7b32.9x32.1x3.8x
Price to Earnings Ratio

32.1x


Total Market Cap: NT$150.9bTotal Earnings: NT$4.7bTotal Revenue: NT$40.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Taiwanese Utilities Sector Price to Earnings3Y Average 21.3x202420252026
Current Industry PE
  • Investors are pessimistic on the Taiwanese Utilities industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The 3-year average PS ratio of 3.0x is higher than the industry's current PS ratio of 1.9x.
Past Earnings Growth
  • Total earnings for the Utilities industry have declined over the last three years, with the industry now making a loss overall.
  • Meanwhile revenues have grown 32% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

Which industries have driven the changes within the Taiwanese Utilities sector?

TW Market-4.98%
Utilities2.86%
Gas Utilities13.40%
Renewable Energy-2.38%
Water Utilities-3.65%
Industry PE
  • Investors are most optimistic about the Gas Utilities industry, which is trading close to its 3-year average PE ratio of 21.4x.
    • It looks like they are confident that earnings will grow faster in the future than they have historically.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 69% over the next 5 years.
  • This is better than its past earnings growth rate of 31% per year.
  • In contrast, the Renewable Energy industry is expected to see its earnings grow by 69% 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
9918 Shin Shin Natural GasNT$55.8036.1%
+NT$2.6b		39.3%PE32.3x
9931 Hsin Kao GasLtdNT$46.6532.5%
+NT$1.4b		32.7%PE17.1x
8917 Hsin Tai GasNT$63.0014.3%
+NT$1.3b		-0.6%PE29.4x
8908 ShinHsiung Natural GasNT$44.508.1%
+NT$960.2m		-1.5%PE18.4x
9908 Great Taipei GasNT$31.956.3%
+NT$951.6m		4.1%PE18.7x

Latest News

6946
NT$12.00
Santi Renewable Energy
7D
8.1%
1Y
-61.1%
9926
NT$52.00
Shin Hai Gas
7D
3.8%
1Y
1.8%
7877
NT$60.50
TEINCO TechnologyLtd
7D
34.4%
1Y
n/a
6987
NT$20.55
Ina Energy
7D
-8.7%
1Y
-56.1%
9918
NT$55.80
Shin Shin Natural Gas
7D
36.1%
1Y
39.3%
9931
NT$46.65
Hsin Kao GasLtd
7D
32.5%
1Y
32.7%
6994
NT$84.90
Foxwell Power
7D
-4.2%
1Y
-41.6%
7590
NT$18.55
YIHO International
7D
-2.4%
1Y
-26.4%
6869
NT$107.50
J&V Energy Technology
7D
-1.8%
1Y
-35.2%
6806
NT$42.20
Shinfox Energy
7D
-5.1%
1Y
-58.2%
6873
NT$100.50
HD Renewable Energy
7D
-7.8%
1Y
-49.9%
8926
NT$45.70
Taiwan Cogeneration
7D
-2.7%
1Y
10.0%
8435
NT$57.30
Zimmite Taiwan
7D
-4.7%
1Y
-25.1%
8908
NT$44.50
ShinHsiung Natural Gas
7D
8.1%
1Y
-1.5%
9908
NT$31.95
Great Taipei Gas
7D
6.3%
1Y
4.1%
8917
NT$63.00
Hsin Tai Gas
7D
14.3%
1Y
-0.6%