This article series provides a monthly dashboard of industries in each sector of the GICS classification. It compares valuation and quality factors relative to their historical averages in each industry.
Executive summary
All industries are overvalued in utilities, and profitability doesn’t justify it. The only valuation factor reported below that looks better than historical averages is the price/sales ratio of power producers/traders. However, this group is also the worst for the profitability metric, both in absolute value and relative to its historical baseline. Combining 2 valuation factors, electric utilities and multi-utilities are the most overpriced