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| Company | Headquarters | Sector | Stock Price | Enterprise Value | EV/Revenue | EV/EBITDA |
|---|---|---|---|---|---|---|
| NextEra Energy | United States of America | Utilities, Energy Exploration & Generation | $80 | $258B | 9.1x | 15.9x |
| Iberdrola | Spain | Utilities, Wind, Energy Exploration & Generation | €18 | $203B | 3.7x | 10.5x |
| Duke Energy | United States of America | Utilities | $118 | $181B | 5.7x | 11.9x |
| Enel | Italy | Utilities, Energy Exploration & Generation | €9 | $175B | 1.9x | 6.4x |
| Southern Company | United States of America | Utilities | $88 | $167B | 5.9x | 12.8x |
| National Grid | United Kingdom of Great Britain and Northern Ireland | Utilities | £11 | $133B | 5.0x | 12.3x |
| TAQA | United Arab Emirates | Utilities, Energy Exploration & Generation | AED 4 | $123B | 7.9x | 23.3x |
| Constellation Energy | United States of America | Utilities, Energy Exploration & Generation | $358 | $117B | 4.9x | 22.5x |
| American Electric Power | United States of America | Utilities | $116 | $108B | 5.1x | 12.3x |
| Engie | France | Energy Exploration & Generation, Utilities | €22 | $106B | 1.3x | 6.2x |
| KEPCO | South Korea | Utilities | KRW 47250 | $106B | 1.6x | 5.4x |
| Dominion Energy | United States of America | Utilities | $59 | $99.2B | 6.2x | 13.3x |
| PG&E | United States of America | Utilities | $16 | $95.6B | 3.8x | 9.4x |
| Exelon | United States of America | Utilities | $44 | $92.4B | 3.8x | 10.5x |
| Sempra | United States of America | Energy Services, Utilities | $89 | $90.5B | 6.3x | 15.3x |
| China National Nuclear | China | Utilities | CNY 9 | $83.2B | 7.1x | 12.0x |
| Xcel Energy | United States of America | Utilities | $74 | $78.5B | 5.3x | 13.1x |
| Barito Renewables Energy | Indonesia | Utilities | IDR 9525 | $77.9B | N/A | N/A |
| Vistra | United States of America | Energy Exploration & Generation, Nuclear, Solar, Energy Storage, Utilities | $162 | $74.2B | 3.8x | 12.6x |
| Entergy | United States of America | Utilities | $93 | $70.4B | 5.5x | 12.4x |
| REC Ltd. | India | Utilities, Lending Solutions | INR 356 | $68.2B | 26.9x | 28.3x |
| Saudi Electricity | Saudi Arabia | Utilities | SAR 14 | $67.6B | 2.6x | 6.4x |
| Edison International | United States of America | Utilities | $60 | $63.6B | 3.4x | 7.2x |
| PSEG | United States of America | Utilities | $81 | $63.5B | 5.5x | 13.6x |
| Consolidated Edison | United States of America | Utilities | $100 | $62.4B | 3.8x | 11.2x |
| NTPC | India | Utilities | INR 326 | $60.3B | 2.8x | 9.8x |
| WEC Energy Group | United States of America | Utilities | $106 | $55.6B | 6.0x | 13.8x |
| Eversource Energy | United States of America | Utilities | $67 | $54.8B | 4.3x | 11.1x |
| Huaneng Power | China | Utilities, Energy Exploration & Generation | CNY 7 | $54.7B | 1.6x | 6.3x |
| DTE Energy | United States of America | Utilities | $130 | $52.2B | 3.8x | 12.1x |
| Fortis | Canada | Utilities | CAD 71 | $52.1B | 5.7x | 12.1x |
| FirstEnergy | United States of America | Utilities | $45 | $52.0B | 3.7x | 11.4x |
| CGN Power | Hong Kong | Energy Exploration & Generation, Nuclear, Utilities | HKD 4 | $50.3B | 4.1x | 9.5x |
| Endesa | Spain | Utilities | €31 | $49.2B | 1.9x | 7.5x |
| SSE | United Kingdom of Great Britain and Northern Ireland | Utilities, Energy Exploration & Generation | £22 | $48.5B | 3.5x | 10.9x |
| Ameren | United States of America | Utilities | $100 | $47.2B | 5.7x | 12.7x |
| CenterPoint Energy | United States of America | Utilities | $38 | $46.8B | 5.1x | 12.6x |
| E.ON | Germany | Utilities, Energy Services | €16 | $44.5B | 0.5x | 3.9x |
| EDP-Energias De Portugal | Portugal | Energy Exploration & Generation, Wind, Utilities | €4 | $44.1B | 2.3x | 7.7x |
| PPL Corp. | United States of America | Utilities | $35 | $43.9B | 5.0x | 12.1x |
| CEZ | Czechia | Utilities, Nuclear, Energy Exploration & Generation | CZK 1300 | $43.9B | 2.8x | 6.9x |
| Dubai Electricity & Water | United Arab Emirates | Utilities, Water | AED 3 | $43.8B | 4.9x | 9.3x |
| Naturgy Energy Group | Spain | Utilities, Energy Services | €26 | $43.1B | 1.8x | 6.9x |
| Snam | Italy | Energy Services, Utilities | €6 | $42.9B | 9.5x | 12.3x |
| RWE | Germany | Energy Services, Utilities, Energy Exploration & Generation | €45 | $42.9B | 1.6x | 7.5x |
| NRG Energy | United States of America | Utilities, Energy Services, Energy Exploration & Generation | $161 | $42.9B | 1.4x | 10.6x |
| Tokyo Electric Power | Japan | Utilities, Water, Nuclear, Energy Exploration & Generation | JPY 650 | $42.5B | 1.0x | N/A |
| American Water Works Co | United States of America | Utilities, Water | $131 | $40.8B | 8.1x | 14.3x |
| Cheniere Energy Partners | United States of America | Utilities, Fossil Fuels | $54 | $40.7B | 3.8x | 11.3x |
| Power Grid India | India | Utilities | INR 261 | $40.2B | 7.7x | 9.1x |
| IndianOil | India | Utilities, Fossil Fuels, Energy Exploration & Generation | INR 162 | $40.0B | 0.5x | 6.9x |
| CMS Energy | United States of America | Utilities | $70 | $39.3B | 4.8x | 12.8x |
| AES | United States of America | Utilities, Energy Exploration & Generation | $14 | $39.2B | 3.3x | 14.1x |
| EnBW | Germany | Utilities, Environmental & Facilities Services | €68 | $38.9B | N/A | N/A |
| Tenaga Nasional | Malaysia | Utilities | MYR 14 | $38.0B | 2.4x | 7.6x |
| Orsted | Denmark | Energy Exploration & Generation, Wind, Solar, Energy Exploration & Generation, Utilities | DKK 119 | $37.6B | 3.4x | 9.8x |
| Kansai Electric Power | Japan | Utilities, Water, Nuclear, Energy Exploration & Generation | JPY 2473 | $37.4B | 1.4x | 7.3x |
| Hydro One | Canada | Utilities | CAD 54 | $37.0B | 5.7x | 15.2x |
| China Resources Power | Hong Kong | Energy Exploration & Generation, Wind, Solar, Water, Utilities | HKD 17 | $36.8B | 2.7x | 7.0x |
| Atmos Energy | United States of America | Utilities, Energy Services | $169 | $36.4B | 7.4x | 15.2x |
| NiSource | United States of America | Utilities, Energy Services | $42 | $35.5B | 5.8x | 12.3x |
| Terna | Italy | Utilities | €9 | $35.3B | 7.5x | 11.0x |
| Adani Power | India | Energy Exploration & Generation, Solar, Utilities | INR 141 | $34.4B | 5.4x | 14.0x |
| China Power | Hong Kong | Utilities, Energy Exploration & Generation | HKD 3 | $33.1B | 4.8x | 8.9x |
| Datang International | China | Energy Exploration & Generation, Wind, Solar, Water, Utilities | CNY 3 | $31.6B | 1.8x | 6.2x |
| Evergy | United States of America | Utilities | $73 | $31.5B | 5.2x | 11.6x |
| Emera | Canada | Utilities | CAD 67 | $30.7B | 5.0x | 12.0x |
| CLP Group | Hong Kong | Utilities | HKD 69 | $30.6B | 2.7x | 10.0x |
| Alliant Energy | United States of America | Utilities | $65 | $28.0B | 6.9x | 14.8x |
| Chubu Electric Power | Japan | Utilities, Energy Exploration & Generation | JPY 2410 | $27.9B | 1.2x | 11.7x |
| Elia Group | Belgium | Utilities | €109 | $27.2B | 4.5x | 12.0x |
| EDP Renovaveis | Portugal | Energy Exploration & Generation, Wind, Solar, Energy Exploration & Generation, Utilities | €12 | $26.4B | 8.6x | 11.8x |
| Korea Gas | South Korea | Energy Services, Utilities | KRW 39400 | $26.2B | 1.1x | 8.9x |
| Huadian Power | China | Utilities, Energy Exploration & Generation | CNY 5 | $25.1B | 1.4x | 7.3x |
| Verbund | Austria | Utilities, Water, Energy Exploration & Generation | €61 | $25.0B | 2.7x | 7.5x |
| Pinnacle West Capital | United States of America | Utilities | $88 | $24.8B | 4.7x | 12.4x |
| Italgas | Italy | Utilities | €9 | $24.4B | 8.3x | 11.0x |
| Kyushu Electric Power | Japan | Utilities, Nuclear, Water, Energy Exploration & Generation | JPY 1702 | $23.8B | 1.6x | 8.5x |
| Severn Trent | United Kingdom of Great Britain and Northern Ireland | Utilities, Water | £27 | $23.7B | 6.5x | 13.9x |
| Towngas | Hong Kong | Utilities, Energy Services | HKD 7 | $23.7B | 3.2x | 15.0x |
| United Utilities | United Kingdom of Great Britain and Northern Ireland | Utilities, Water | £12 | $23.6B | 7.1x | 12.1x |
| Shanghai Electric Power | China | Utilities, Wind, Solar, Energy Exploration & Generation | CNY 21 | $21.5B | 3.5x | N/A |
| Sabesp | Brazil | Utilities, Water | BRL 134 | $21.3B | 5.1x | 8.8x |
| Fortum | Finland | Utilities | €18 | $21.2B | 3.4x | 14.0x |
| CK Infrastructure Holdings | Hong Kong | Utilities | HKD 58 | $21.0B | 31.9x | 112.5x |
| Tata Power | India | Energy Exploration & Generation, Utilities | INR 376 | $20.4B | 2.7x | 12.7x |
| Talen Energy | United States of America | Energy Exploration & Generation, Utilities | $385 | $20.1B | 8.5x | 20.5x |
| Tokyo Gas | Japan | Utilities, Energy Exploration & Generation | JPY 6164 | $20.0B | 1.1x | 7.2x |
| Tohoku Electric Power | Japan | Energy Exploration & Generation, Wind, Solar, Water, Nuclear, Utilities | JPY 1159 | $19.2B | 1.2x | 6.6x |
| Chugoku Electric Power | Japan | Utilities, Water, Nuclear, Energy Exploration & Generation | JPY 1004 | $19.0B | 2.0x | 11.9x |
| Essential Utilities | United States of America | Utilities, Water, Energy Services | $39 | $18.9B | 8.0x | 15.1x |
| Brookfield Infrastructure | Canada | Utilities, Energy Services | CAD 63 | $18.5B | N/A | N/A |
| Adani Energy Solutions | India | Utilities, Energy Services | INR 999 | $17.7B | 6.1x | 17.5x |
| Canadian Utilities | Canada | Utilities | CAD 42 | $17.7B | 6.0x | 11.4x |
| Osaka Gas | Japan | Utilities, Water | JPY 5384 | $17.7B | 1.3x | 9.0x |
| Equatorial Energia | Brazil | Utilities | BRL 38 | $17.4B | 2.3x | 7.8x |
| APA Group | Australia | Energy Services, Utilities | AUD 9 | $17.1B | 7.9x | 12.2x |
| Redeia | Spain | Utilities | €15 | $16.2B | 8.2x | 10.9x |
| CPFL Energia | Brazil | Utilities | BRL 53 | $16.1B | 2.2x | 6.7x |
| JSW Energy | India | Energy Exploration & Generation, Wind, Solar, Water, Utilities | INR 471 | $16.1B | 7.5x | 14.7x |
Valuation multiples as of last 12 months (LTM). Stock prices as of December 30, 2025. Financial data powered by Morningstar and FactSet.
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