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Australia's largest electricity generator and retailer, transitioning from coal-fired power toward renewables and batteries.
Australia's largest electricity generator and retailer, transitioning from coal-fired power toward renewables and batteries.
Earns margin from retail sales of electricity and gas, using its own coal, gas and renewable plants to supply customers and hedge wholesale price swings. A plan to split into separate retail and generation companies was dropped in 2022. Aging coal stations are being retired, with Liddell closing in 2023, and batteries and renewables replace them.
In one line: Australia's largest power utility, like a smaller NRG Energy.
Moat: narrow (scale, installed base, regulatory licence). Largest generation fleet and retail customer base in Australia's electricity market.
Headquarters: Sydney, Australia · Founded: 1837 · Employees: 3,122
Size AGL Energy (AGL.AX) is an Australia Utilities company (Electric Utilities) with a market value of $4.21B, the 80th largest of 316 Australia companies the cockpit tracks. Shares closed at A$9.04 on 6 Nov 2026.
Performance Over six months the shares fell 3.0%, against -8.7% for the median peer and +4.1% for the Australia market (cap-weighted) — 6th highest of 21 in its peer set.
Growth Revenue fell 5.6% over the last twelve months (peer median +4.3%); the operating margin is 10.5% (peer median 9.9%).
Valuation It trades at 10.5× forward earnings against a peer median of 11.9× (8th cheapest of 19).
Capital Return on invested capital runs 5.8 points above its cost of capital (5.9% WACC).
Next results Next results expected around 10 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | A$13.6B | A$13.6B | A$14.3B | A$13.6B | A$14.2B |
| Revenue growth | — | -5% | +6% | -4% | — |
| Gross profit | A$1.88B | A$1.88B | A$1.83B | A$2.15B | A$1.15B |
| EBITDA | A$2.41B | A$2.41B | A$2.13B | A$2.50B | A$1.50B |
| Net income | A$756M | A$756M | A$112M | A$711M | -A$1.26B |
| Free cash flow | -A$290M | -A$290M | -A$212M | A$1.40B | A$288M |
| Capital expenditure | A$1.44B | A$1.44B | A$1.28B | A$838M | A$624M |
| Total debt | n/a | A$4.03B | A$4.16B | A$2.73B | A$2.88B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| AGL Energy AGL.AX | $4.21B | -3% | -6% | 11% | 10.5× | n/a |
| Origin Energy ORG.AX | $14.4B | +5% | -10% | 8% | 16.2× | 10.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AGL.AX | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +7.5% | -0.7% | 4th highest of 21 |
| 6-month return | -3.0% | -8.7% | 6th highest of 21 |
| Distance from 52-week high | -15.0% | -26.8% | 5th highest of 21 |
| Revenue growth (TTM) | -5.6% | +4.3% | 7th lowest of 21 |
| Operating margin | 10.5% | 9.9% | 9th highest of 20 |
| Forward P/E | 10.5× | 11.9× | 8th cheapest of 19 |
| ROIC minus cost of capital | +5.8 pp | -1.7 pp | highest of 20 |
| EV / EBITDA | 3.9× | 11.7× | cheapest of 12 |
| Net debt / EBITDA | 1.4× | 6.1× | 2nd least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| AGL Energy AGL.AX | Australia | $4.21B | -3% | -6% | 11% | 10.5× | n/a | n/a |
| Northland Power NPI.TO | Canada | $4.22B | -4% | +15% | 34% | 14.3× | -1.7% | +3.4% |
| Tokyo Elec Power Co Hldgs 9501.T | Japan | $4.17B | -31% | -2% | 1% | 3.7× | n/a | n/a |
| TransAlta TA.TO | Canada | $4.15B | +5% | -12% | 8% | 49.9× | 21.9% | +4.1% |
| Algonquin Power & Utilities AQN.TO | Canada | $4.29B | -9% | +6% | 20% | 14.2× | n/a | n/a |
| China Power International Development 2380.HK | Hong Kong | $4.29B | -20% | -5% | 20% | 13.6× | n/a | n/a |
| Jiangsu Guoxin 002608.SZ | China | $4.30B | -1% | +7% | 5% | 12.6× | -0.7% | +10.5% |
| Electric Power Development 9513.T | Japan | $4.39B | +2% | +4% | 10% | 8.2× | 4.5% | +5.4% |
| TAURON Polska Energia TPE.WA | Poland | $4.02B | -6% | 0% | n/a | 6.1× | 17.0% | +10.4% |
| Shenzhen Energy 000027.SZ | China | $4.49B | -8% | +4% | 13% | 11.2× | n/a | n/a |
| Wintime Energy 600157.SS | China | $4.55B | -21% | -9% | 7% | 104.2× | 0.8% | +1.4% |
| Tohoku Electric Power 9506.T | Japan | $3.89B | +13% | +17% | 3% | 4.9× | n/a | n/a |
| Drax DRX.L | United Kingdom | $3.88B | 0% | -8% | 9% | 10.4× | -0.2% | +4.8% |
| Shaanxi Energy Investment 001286.SZ | China | $4.68B | -16% | +4% | 24% | 12.9× | -9.2% | +18.6% |
| Pampa Energia SA Sponsored ADR PAM | United States | $3.78B | -19% | +29% | 21% | 7.4× | n/a | n/a |
| Brookfield Renewable BEPC | United States | $4.79B | -13% | +6% | 19% | 249.6× | n/a | n/a |
| Guangdong Electric Power Development 000539.SZ | China | $3.64B | -21% | +8% | -1% | n/a | 9.8% | +8.9% |
| Shanghai Electric Power 600021.SS | China | $4.98B | -31% | -6% | 13% | 8.9× | n/a | n/a |
| Guangzhou Development 600098.SS | China | $3.56B | -3% | +4% | 4% | 14.9× | -1.0% | +9.9% |
| Iren IRE.MI | Italy | $3.54B | -9% | -8% | 9% | 10.6× | 5.5% | +12.0% |
| Huadian Energy 600726.SS | China | $5.01B | -33% | -7% | 10% | n/a | n/a | n/a |