The valuation snapshot makes Algonquin Power & Utilities look cheaper than Canadian Utilities. But a lower multiple alone doesn’t tell you which utility is the better investment.
Canadian Utilities Limited (CU.TO) and Algonquin Power & Utilities Corp. (AQN.TO) are both in the utilities sector, but their valuation multiples differ sharply. At the adjusted closes on November 2, 2026, CU was C$51.43, with a C$14.0 billion market cap. AQN was C$7.85, with a C$6.0 billion market cap. Of the P/E, PEG and P/B figures provided, AQN is lower on all three. That’s a relative valuation comparison, not proof that AQN is undervalued or will outperform.
Investor takeaway: AQN has the lower P/E, PEG and P/B in this snapshot. CU has a slightly higher dividend yield. Both companies have low reported TTM ROE and the same Strong Sell consensus label in the table. These figures are a starting point, not a complete picture of business quality, risk or future returns.
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Canadian Utilities Limited
CU.TO
Utilities
$51.43
$14.01B
1D
-0.04%
1W
+3.29%
Algonquin Power & Utilities Corp
AQN.TO
Utilities
$7.85
$6.04B
1D
+2.88%
1W
+4.53%
AQN is lower on all three supplied valuation multiples
AQN’s P/E is 23.8, compared with 321.4 for CU. Its PEG is 1.30 versus 2.64, and its P/B is 0.97 versus 2.78. On the available multiples, AQN looks cheaper. That doesn’t prove AQN is undervalued, CU is overvalued or either stock will deliver better returns.
Bull case
AQN’s P/E of 23.8, PEG of 1.30 and P/B of 0.97 are all below CU’s. Its TTM ROE is also higher, at 2.5% compared with CU’s 1.9%. Investors comparing valuations may find these figures worth a closer look. More research is needed to understand why the multiples differ.
Bear case
A lower multiple doesn’t show that AQN is mispriced or has a stronger operating outlook. Its reported TTM ROE is 2.5%, and the supplied analyst consensus is Strong Sell. CU also has a Strong Sell label, and the table lists its analyst target as C$0.00. Read these figures cautiously. They aren’t a forecast.
The valuation table favours AQN on the available multiples
In the supplied snapshot, AQN is lower than CU on all three valuation measures.
| Measure | CU.TO | AQN.TO |
|---|---|---|
| P/E | 321.4 | 23.8 |
| PEG | 2.64 | 1.30 |
| P/B | 2.78 | 0.97 |
On these figures, AQN looks cheaper. The comparison doesn’t explain why the multiples differ, show whether either company is fairly valued or predict how the shares will perform. For more context, see the company pages: Canadian Utilities and Algonquin Power & Utilities.
Yield and profitability add context, not a verdict
CU’s dividend yield is 3.58%, compared with 3.41% for AQN. Reported TTM ROE is 1.9% for CU and 2.5% for AQN. These snapshot figures don’t show the companies’ full financial positions or what their dividends may look like in the future.
The table gives both companies a Strong Sell analyst consensus label and lists an analyst target of C$0.00 for each. Treat these as data points, not a substitute for checking the underlying assumptions or deciding whether either stock suits your circumstances.
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