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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 | $84 | $263B | 9.5x | 16.8x |
| Iberdrola | Spain | Utilities, Wind, Energy Exploration & Generation | €17 | $195B | 3.6x | 10.2x |
| Duke Energy | United States of America | Utilities | $126 | $187B | 5.9x | 12.5x |
| Southern Company | United States of America | Utilities | $94 | $173B | 6.2x | 13.5x |
| Enel | Italy | Utilities, Energy Exploration & Generation | €9 | $168B | 1.8x | 6.3x |
| National Grid | United Kingdom of Great Britain and Northern Ireland | Utilities | £11 | $131B | 5.1x | 12.5x |
| Constellation Energy | United States of America | Utilities, Energy Exploration & Generation | $385 | $127B | 5.3x | 24.7x |
| TAQA | United Arab Emirates | Utilities, Energy Exploration & Generation | AED 3 | $118B | 7.6x | 22.2x |
| American Electric Power | United States of America | Utilities | $115 | $108B | 5.1x | 12.4x |
| Sempra | United States of America | Energy Services, Utilities | $93 | $99.7B | 7.1x | 17.0x |
| Engie | France | Energy Exploration & Generation, Utilities | €20 | $98.0B | 1.2x | 5.7x |
| Dominion Energy | United States of America | Utilities | $60 | $97.9B | 6.3x | 13.2x |
| PG&E | United States of America | Utilities | $16 | $96.4B | 3.8x | 9.5x |
| Exelon | United States of America | Utilities | $48 | $96.3B | 4.0x | 11.1x |
| Vistra | United States of America | Energy Exploration & Generation, Nuclear, Solar, Energy Storage, Utilities | $191 | $84.6B | 4.4x | 14.5x |
| China National Nuclear | China | Utilities | CNY 9 | $82.7B | 7.2x | 11.9x |
| Xcel Energy | United States of America | Utilities | $80 | $79.1B | 5.4x | 13.3x |
| Barito Renewables Energy | Indonesia | Utilities | IDR 8900 | $73.6B | N/A | N/A |
| Entergy | United States of America | Utilities | $95 | $71.6B | 5.7x | 12.8x |
| REC Ltd. | India | Utilities, Lending Solutions | INR 369 | $69.7B | 27.1x | 29.0x |
| NTPC | India | Utilities | INR 339 | $65.2B | 3.0x | 10.5x |
| Saudi Electricity | Saudi Arabia | Utilities | SAR 16 | $65.0B | 2.5x | 6.5x |
| PSEG | United States of America | Utilities | $81 | $63.8B | 5.8x | 14.1x |
| Edison International | United States of America | Utilities | $56 | $62.6B | 3.4x | 7.9x |
| Consolidated Edison | United States of America | Utilities | $99 | $61.1B | 3.8x | 11.1x |
| WEC Energy Group | United States of America | Utilities | $115 | $57.6B | 6.3x | 14.5x |
| Eversource Energy | United States of America | Utilities | $75 | $57.2B | 4.5x | 11.6x |
| Huaneng Power | China | Utilities, Energy Exploration & Generation | CNY 7 | $54.5B | 1.6x | 6.6x |
| CGN Power | Hong Kong | Energy Exploration & Generation, Nuclear, Utilities | HKD 4 | $54.3B | 4.5x | 10.5x |
| DTE Energy | United States of America | Utilities | $140 | $52.9B | 3.9x | 12.5x |
| FirstEnergy | United States of America | Utilities | $46 | $51.9B | 3.7x | 11.4x |
| Fortis | Canada | Utilities | CAD 71 | $50.5B | 5.7x | 12.2x |
| Ameren | United States of America | Utilities | $103 | $47.9B | 6.0x | 13.3x |
| Endesa | Spain | Utilities | €30 | $47.8B | 1.9x | 7.5x |
| CenterPoint Energy | United States of America | Utilities | $40 | $47.5B | 5.2x | 13.0x |
| EDP-Energias De Portugal | Portugal | Energy Exploration & Generation, Wind, Utilities | €4 | $45.8B | 2.4x | 8.1x |
| E.ON | Germany | Utilities, Energy Services | €16 | $45.2B | 0.5x | 4.1x |
| NRG Energy | United States of America | Utilities, Energy Services, Energy Exploration & Generation | $173 | $45.0B | 1.5x | 11.3x |
| Power Grid India | India | Utilities | INR 288 | $45.0B | 8.5x | 10.0x |
| Dubai Electricity & Water | United Arab Emirates | Utilities, Water | AED 3 | $44.9B | 5.1x | 10.1x |
| PPL Corp. | United States of America | Utilities | $37 | $44.8B | 5.2x | 12.3x |
| Tokyo Electric Power | Japan | Utilities, Water, Nuclear, Energy Exploration & Generation | JPY 723 | $43.9B | 1.0x | N/A |
| Naturgy Energy Group | Spain | Utilities, Energy Services | €27 | $43.9B | 1.9x | 7.1x |
| CEZ | Czechia | Utilities, Nuclear, Energy Exploration & Generation | CZK 1288 | $41.9B | 2.6x | 6.5x |
| Snam | Italy | Energy Services, Utilities | €5 | $41.4B | 9.4x | 12.2x |
| American Water Works Co | United States of America | Utilities, Water | $135 | $41.3B | 8.3x | 14.9x |
| Cheniere Energy Partners | United States of America | Utilities, Fossil Fuels | $54 | $40.6B | 3.9x | 11.1x |
| SSE | United Kingdom of Great Britain and Northern Ireland | Utilities, Energy Exploration & Generation | £19 | $40.6B | 3.0x | 9.2x |
| Adani Power | India | Energy Exploration & Generation, Solar, Utilities | INR 162 | $39.9B | 6.1x | 15.7x |
| IndianOil | India | Utilities, Fossil Fuels, Energy Exploration & Generation | INR 155 | $39.5B | 0.4x | 7.4x |
| CMS Energy | United States of America | Utilities | $73 | $39.4B | 4.9x | 13.0x |
| AES | United States of America | Utilities, Energy Exploration & Generation | $14 | $39.2B | 3.3x | 14.3x |
| RWE | Germany | Energy Services, Utilities, Energy Exploration & Generation | €40 | $38.7B | 1.5x | 6.8x |
| EnBW | Germany | Utilities, Environmental & Facilities Services | €67 | $38.1B | N/A | N/A |
| Kansai Electric Power | Japan | Utilities, Water, Nuclear, Energy Exploration & Generation | JPY 2232 | $37.9B | 1.4x | 7.3x |
| China Resources Power | Hong Kong | Energy Exploration & Generation, Wind, Solar, Water, Utilities | HKD 18 | $37.4B | 2.7x | 7.0x |
| Atmos Energy | United States of America | Utilities, Energy Services | $174 | $36.3B | 7.4x | 15.5x |
| NiSource | United States of America | Utilities, Energy Services | $43 | $35.9B | 6.0x | 12.6x |
| Hydro One | Canada | Utilities | CAD 52 | $35.2B | 5.6x | 15.0x |
| KEPCO | South Korea | Utilities | KRW 44000 | $35.1B | 0.5x | 1.9x |
| Orsted | Denmark | Energy Exploration & Generation, Wind, Solar, Energy Exploration & Generation, Utilities | DKK 120 | $35.0B | 3.1x | 8.2x |
| Terna | Italy | Utilities | €9 | $34.9B | 7.6x | 11.1x |
| Tenaga Nasional | Malaysia | Utilities | MYR 13 | $34.4B | 2.3x | 7.0x |
| Datang International | China | Energy Exploration & Generation, Wind, Solar, Water, Utilities | CNY 3 | $33.0B | 1.9x | 6.9x |
| China Power | Hong Kong | Utilities, Energy Exploration & Generation | HKD 3 | $32.9B | 4.6x | 8.7x |
| Evergy | United States of America | Utilities | $78 | $32.7B | 5.5x | 12.0x |
| Eletrobras | Brazil | Utilities, Wind, Water, Nuclear, Energy Exploration & Generation | BRL 55 | $30.9B | 4.2x | 7.9x |
| Emera | Canada | Utilities | CAD 68 | $29.7B | 5.1x | 12.3x |
| CLP Group | Hong Kong | Utilities | HKD 66 | $29.6B | 2.6x | 9.2x |
| Alliant Energy | United States of America | Utilities | $68 | $28.5B | 6.9x | 15.0x |
| Chubu Electric Power | Japan | Utilities, Energy Exploration & Generation | JPY 2136 | $27.5B | 1.2x | 10.8x |
| EDP Renovaveis | Portugal | Energy Exploration & Generation, Wind, Solar, Energy Exploration & Generation, Utilities | €13 | $27.4B | 9.1x | 12.8x |
| Elia Group | Belgium | Utilities | €106 | $26.5B | 4.5x | 12.2x |
| Huadian Power | China | Utilities, Energy Exploration & Generation | CNY 5 | $26.1B | 1.6x | 8.2x |
| Verbund | Austria | Utilities, Water, Energy Exploration & Generation | €64 | $26.0B | 2.6x | 7.6x |
| Korea Gas | South Korea | Energy Services, Utilities | KRW 43000 | $26.0B | 1.0x | 8.4x |
| Kyushu Electric Power | Japan | Utilities, Nuclear, Water, Energy Exploration & Generation | JPY 1506 | $25.2B | 1.7x | 8.9x |
| Pinnacle West Capital | United States of America | Utilities | $91 | $24.8B | 4.7x | 12.6x |
| Shanghai Electric Power | China | Utilities, Wind, Solar, Energy Exploration & Generation | CNY 27 | $24.4B | 3.9x | N/A |
| Towngas | Hong Kong | Utilities, Energy Services | HKD 7 | $24.3B | 3.4x | 14.5x |
| United Utilities | United Kingdom of Great Britain and Northern Ireland | Utilities, Water | £12 | $23.4B | 7.3x | 12.8x |
| Italgas | Italy | Utilities | €9 | $23.2B | 8.4x | 11.3x |
| Severn Trent | United Kingdom of Great Britain and Northern Ireland | Utilities, Water | £28 | $23.1B | 6.5x | 14.2x |
| Tata Power | India | Energy Exploration & Generation, Utilities | INR 399 | $21.5B | 2.7x | 13.1x |
| Sabesp | Brazil | Utilities, Water | BRL 132 | $21.0B | 4.5x | 8.2x |
| Talen Energy | United States of America | Energy Exploration & Generation, Utilities | $394 | $20.9B | 9.2x | 21.5x |
| Fortum | Finland | Utilities | €18 | $20.5B | 3.3x | 13.0x |
| Chugoku Electric Power | Japan | Utilities, Water, Nuclear, Energy Exploration & Generation | JPY 858 | $19.6B | 2.0x | 12.5x |
| Tokyo Gas | Japan | Utilities, Energy Exploration & Generation | JPY 5380 | $19.5B | 1.1x | 7.0x |
| Tohoku Electric Power | Japan | Energy Exploration & Generation, Wind, Solar, Water, Nuclear, Utilities | JPY 1081 | $19.4B | 1.2x | 6.4x |
| Essential Utilities | United States of America | Utilities, Water, Energy Services | $41 | $19.1B | 8.3x | 15.5x |
| Oklo | United States of America | Energy Exploration & Generation, Utilities | $132 | $19.0B | N/A | -262.2x |
| CK Infrastructure Holdings | Hong Kong | Utilities | HKD 51 | $18.7B | 27.3x | 69.9x |
| JSW Energy | India | Energy Exploration & Generation, Wind, Solar, Water, Utilities | INR 536 | $17.6B | 8.8x | 17.6x |
| Brookfield Infrastructure | Canada | Utilities, Energy Services | CAD 63 | $17.3B | N/A | N/A |
| Equatorial Energia | Brazil | Utilities | BRL 37 | $17.1B | 2.1x | 7.7x |
| Redeia | Spain | Utilities | €17 | $17.0B | 8.7x | 11.6x |
| Adani Energy Solutions | India | Utilities, Energy Services | INR 921 | $17.0B | 5.7x | 17.3x |
| Origin Energy | Australia | Energy Exploration & Generation, Utilities | AUD 13 | $16.7B | 1.5x | 7.8x |
| Canadian Utilities | Canada | Utilities | CAD 39 | $16.6B | 5.7x | 11.3x |
Valuation multiples as of last 12 months (LTM). Stock prices as of October 29, 2025. Financial data powered by Morningstar and FactSet.
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