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Vietnamese (HOSE) Utilities Sector Analysis
UpdatedDec 15, 2025
DataAggregated Company Financials
Companies39
- 7D-3.8%
- 3M-5.1%
- 1Y-3.8%
- YTD-4.4%
Over the last 7 days, the Utilities industry has dropped 3.8%, driven by Petrovietnam Gas declining 4.2%. Overall the industry is down 3.8% in 12 months. As for the next few years, earnings are expected to grow by 9.6% per annum.
Sector Valuation and Performance
Has the Vietnamese Utilities Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Mon, 15 Dec 2025 | ₫291.9t | ₫266.4t | ₫22.0t | 11x | 13.3x | 1.1x |
| Wed, 12 Nov 2025 | ₫294.2t | ₫265.7t | ₫21.8t | 11.3x | 13.5x | 1.1x |
| Fri, 10 Oct 2025 | ₫298.9t | ₫251.1t | ₫21.1t | 12.4x | 14.1x | 1.2x |
| Sun, 07 Sep 2025 | ₫309.6t | ₫251.1t | ₫21.1t | 13x | 14.6x | 1.2x |
| Tue, 05 Aug 2025 | ₫315.4t | ₫252.0t | ₫18.7t | 13.5x | 16.9x | 1.3x |
| Thu, 03 Jul 2025 | ₫301.3t | ₫251.4t | ₫17.7t | 12.7x | 17x | 1.2x |
| Sat, 31 May 2025 | ₫299.4t | ₫250.8t | ₫17.5t | 13.4x | 17.1x | 1.2x |
| Mon, 28 Apr 2025 | ₫279.3t | ₫244.3t | ₫15.8t | 13.3x | 17.6x | 1.1x |
| Wed, 26 Mar 2025 | ₫306.1t | ₫233.5t | ₫15.4t | 14.2x | 19.9x | 1.3x |
| Fri, 21 Feb 2025 | ₫307.9t | ₫231.1t | ₫15.8t | 13.8x | 19.5x | 1.3x |
| Sun, 19 Jan 2025 | ₫299.4t | ₫229.7t | ₫18.0t | 15x | 16.6x | 1.3x |
| Tue, 17 Dec 2024 | ₫302.6t | ₫229.7t | ₫18.0t | 14.7x | 16.8x | 1.3x |
| Thu, 14 Nov 2024 | ₫304.7t | ₫229.7t | ₫18.1t | 15.3x | 16.8x | 1.3x |
| Sat, 12 Oct 2024 | ₫317.4t | ₫224.6t | ₫17.4t | 15.7x | 18.2x | 1.4x |
| Mon, 09 Sep 2024 | ₫341.6t | ₫224.7t | ₫17.3t | 17.2x | 19.7x | 1.5x |
| Wed, 07 Aug 2024 | ₫328.8t | ₫224.6t | ₫17.3t | 16.6x | 19x | 1.5x |
| Fri, 05 Jul 2024 | ₫339.7t | ₫170.5t | ₫15.9t | 13.9x | 21.4x | 2x |
| Sun, 02 Jun 2024 | ₫332.7t | ₫170.6t | ₫16.0t | 13.7x | 20.8x | 2x |
| Tue, 30 Apr 2024 | ₫303.2t | ₫169.3t | ₫17.2t | 12.9x | 17.7x | 1.8x |
| Thu, 28 Mar 2024 | ₫325.4t | ₫168.9t | ₫18.1t | 12.6x | 17.9x | 1.9x |
| Sat, 24 Feb 2024 | ₫317.5t | ₫168.9t | ₫18.4t | 12.1x | 17.3x | 1.9x |
| Mon, 22 Jan 2024 | ₫311.3t | ₫157.6t | ₫19.0t | 11.5x | 16.4x | 2x |
| Wed, 20 Dec 2023 | ₫305.6t | ₫158.5t | ₫19.1t | 11.1x | 16x | 1.9x |
| Fri, 17 Nov 2023 | ₫316.8t | ₫158.5t | ₫19.1t | 10.2x | 16.6x | 2x |
| Sun, 15 Oct 2023 | ₫334.2t | ₫161.9t | ₫20.6t | 9.4x | 16.2x | 2.1x |
| Tue, 12 Sep 2023 | ₫339.2t | ₫161.9t | ₫20.6t | 9.3x | 16.5x | 2.1x |
| Thu, 10 Aug 2023 | ₫343.7t | ₫161.9t | ₫20.6t | 9.3x | 16.7x | 2.1x |
| Sat, 08 Jul 2023 | ₫326.0t | ₫166.3t | ₫23.2t | 9.6x | 14x | 2x |
| Mon, 05 Jun 2023 | ₫318.8t | ₫166.3t | ₫23.2t | 9.7x | 13.7x | 1.9x |
| Wed, 03 May 2023 | ₫310.8t | ₫171.3t | ₫23.5t | 9.2x | 13.2x | 1.8x |
| Fri, 31 Mar 2023 | ₫326.8t | ₫171.1t | ₫23.1t | 8.8x | 14.2x | 1.9x |
| Sun, 26 Feb 2023 | ₫333.3t | ₫171.5t | ₫23.1t | 8.7x | 14.4x | 1.9x |
| Tue, 24 Jan 2023 | ₫328.4t | ₫164.7t | ₫20.7t | 8.7x | 15.8x | 2x |
| Thu, 22 Dec 2022 | ₫318.0t | ₫162.6t | ₫20.7t | 9x | 15.3x | 2x |
Price to Earnings Ratio
15.3x
Current Industry PE
- Investors are pessimistic on the Vietnamese 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 13.3x which is lower than its 3-year average PE of 16.7x.
- The 3-year average PS ratio of 1.6x is higher than the industry's current PS ratio of 1.1x.
Past Earnings Growth
- The earnings for companies in the Utilities industry have remained mostly flat over the last three years.
- Meanwhile revenues for these companies have grown 18% 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 and as a result, profits have held steady.
Industry Trends
Which industries have driven the changes within the Vietnamese Utilities sector?
| VN Market | -5.46% | |
| Utilities | -3.77% | |
| Electric Utilities | -1.95% | |
| Water Utilities | -2.65% | |
| Renewable Energy | -4.05% | |
| Gas Utilities | -4.18% | |
Industry PE
- Investors are most optimistic about the Electric Utilities industry which is trading above its 3-year average PE ratio of 13.9x.
- Analysts are expecting annual earnings growth of 19.8%, which is lower than the prior year's growth of 58.4% per year.
- Investors are most pessimistic about the Gas Utilities industry, which is trading below its 3-year average of 14.7x.
Forecasted Growth
- Analysts are most optimistic on the Water Utilities industry, expecting annual earnings growth of 32% over the next 5 years.
- This is roughly in line with its past earnings growth rate.
- In contrast, the Gas Utilities industry is expected to see its earnings grow by 4.8% 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 | |
|---|---|---|---|---|---|
| S4A Sesan4A Hydropower | ₫34.50k | 3.3% +₫46.4b | -7.3% | PE14.3x | |
| HJS Nam Mu Hydropower JSC | ₫29.60k | 2.8% +₫16.8b | -10.0% | PE18.6x | |
| TDM Thu Dau Mot Water | ₫58.10k | 0.2% +₫11.1b | 14.6% | PE27.3x | |
| SMA Saigon Machinery Spare Parts | ₫8.79k | 1.0% +₫1.8b | -19.4% | n/a | |
| NBP Ninh Binh Thermal Power | ₫7.70k | 1.3% +₫1.3b | -33.0% | PE63.7x |