Electricity, gas, water and waste: how the industry looks

This page gathers the figures we hold on electricity, gas, water and waste. Each section names its own source.

Each source groups industries its own way, so the edges of electricity, gas, water and waste differ a little from section to section.

What stands out

  • In 2024-25, EBITDA was 20.4% of sales across the industry and 14.7% across all industries the ABS covers.
  • In July to December 2025, the typical large business paid small suppliers in 18 days in the industry and 23 days across all industries.
  • The industry's share of deals in our database fell from 9.5% in 2015-19 to 6.4% in 2020-26.

Where a line gives a figure across all industries, it comes from the same source and period as the industry's. The sections below name each source.

Use these figures

What businesses sold for

The median and the middle half, in times EBITDA. The figure is the median. Under it are the middle half and the number of deals.
  1. Waste and recycling6.5 times EBITDA, middle half 6.0 to 9.0, 10+ deals
Deal details

Waste and recycling: median 6.5 times EBITDA. The middle half of deals ran from 6.0 to 9.0 times (10+ deals of A$10 million to A$500 million, announced 2010 to 2025).

Source: deals in our database with a published value. Counts by onestepright.

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onestepright, "Electricity, gas, water and waste in Australia: deals, margins and survival", updated October 2026, https://onestepright.com/industries/electricity-gas-water-and-waste#h-multiples. Source: deals in our database with a published value. Counts by onestepright.

How deal activity has moved

Share of deals in our database
  1. 2015-199.5%
  2. 2020-266.4% · Down

2015-19 against 2020-26, among the deals in our database.

These count deals in our database, not every deal in the market.

Source: deals in our database. Counts by onestepright.

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onestepright, "Electricity, gas, water and waste in Australia: deals, margins and survival", updated October 2026, https://onestepright.com/industries/electricity-gas-water-and-waste#h-deal_activity. Source: deals in our database. Counts by onestepright.

See deal trends across sectors.

Margins

In 2024-25, EBITDA was 20.4% of sales across the industry, and operating profit 7.8%.

Where each dollar of sales goes
  • Purchases46.4%
  • Labour12.1%
  • Other costs
  • EBITDA20.4%

Every business in the industry together, 2024-25.

What is the average profit margin in electricity, gas, water and waste?

Across every electricity, gas, water and waste business added together, EBITDA was 20.4% of sales in 2024-25, and operating profit 7.8%.

Every business in the industry is added together, so the figures are not a typical business.

Source: Australian Bureau of Statistics, Australian Industry (8155.0). Licensed under CC BY 4.0.

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onestepright, "Electricity, gas, water and waste in Australia: deals, margins and survival", updated October 2026, https://onestepright.com/industries/electricity-gas-water-and-waste#h-margins. Source: Australian Bureau of Statistics, Australian Industry (8155.0). Licensed under CC BY 4.0.

Compare margins across industries.

How many businesses are still trading

Out of 100 businesses trading in June 2022

About 64 in every 100 were still trading four years later.

Source: Australian Bureau of Statistics, Counts of Australian Businesses, including Entries and Exits (8165.0). Licensed under CC BY 4.0.

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onestepright, "Electricity, gas, water and waste in Australia: deals, margins and survival", updated October 2026, https://onestepright.com/industries/electricity-gas-water-and-waste#h-survival. Source: Australian Bureau of Statistics, Counts of Australian Businesses, including Entries and Exits (8165.0). Licensed under CC BY 4.0.

Compare survival across industries.

Businesses that started and stopped

Started and stopped, 2025-26
  1. Started trading16.5%All industries16.9%
  2. Stopped trading13.3%All industries13.8%

Each is a share of the businesses trading at the start of the year.

Few exits are insolvencies.

Source: Australian Bureau of Statistics, Counts of Australian Businesses, including Entries and Exits (8165.0). Licensed under CC BY 4.0.

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onestepright, "Electricity, gas, water and waste in Australia: deals, margins and survival", updated October 2026, https://onestepright.com/industries/electricity-gas-water-and-waste#h-entries_and_exits. Source: Australian Bureau of Statistics, Counts of Australian Businesses, including Entries and Exits (8165.0). Licensed under CC BY 4.0.

Compare exits across industries.

How fast large businesses pay small suppliers

Days to pay small suppliers
  • This industry18
  • All industries23

The typical large business in this industry, against all industries.

In July to December 2025, the typical large business in the industry paid small suppliers in 18 days, and paid 89% of its invoices within 30 days.

Source: Payment Times Reporting Register. © Commonwealth of Australia. Licensed under CC BY 4.0.

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onestepright, "Electricity, gas, water and waste in Australia: deals, margins and survival", updated October 2026, https://onestepright.com/industries/electricity-gas-water-and-waste#h-payment_times. Source: Payment Times Reporting Register. © Commonwealth of Australia. Licensed under CC BY 4.0.

Compare payment times across industries.

What costs did

What wages and input prices did in this industry, and what businesses in it announced. Each comes from its own source and grouping of industries.

What costs did, the year to June 2026
  1. Wages+4.3%

Each bar comes from its own source, named below.

Source: Australian Bureau of Statistics, Wage Price Index, Australia (6345.0), private sector, total hourly rates excluding bonuses. Licensed under CC BY 4.0.

No input price series or announced rises fit this industry yet.

What listed chief executives' bonuses pay for

The share of the sector's ASX 200 companies using each measure in their chief executive's bonus plans, FY2025.

Short-term plan

  1. Profit or earnings100%
  2. Safety71%
  3. Strategic or project goals71%
  4. Environment or climate71%
  5. Customer57%
  6. People and culture57%
  7. Cash flow or return on capital43%
  8. Individual goals43%

Share of the sector's ASX 200 companies using each measure, FY2025.

Based on 5+ companies.

Long-term plan

  1. Total shareholder return100%
  2. Environment or climate43%
  3. Revenue or growth43%
  4. Cash flow or return on capital43%
  5. Strategic or project goals29%
  6. Earnings per share14%
  7. Cost14%

Share of the sector's ASX 200 companies using each measure, FY2025.

Based on 5+ companies.

Source: ASX 200 companies' remuneration reports, FY2025. Shares of companies, not weights.

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Cite

onestepright, "Electricity, gas, water and waste in Australia: deals, margins and survival", updated October 2026, https://onestepright.com/industries/electricity-gas-water-and-waste#h-bonus_measures. Source: ASX 200 companies' remuneration reports, FY2025. Shares of companies, not weights.

See bonus measures across sectors.

See electricity, gas, water and waste in New Zealand.

See electricity, gas, water and waste in the United Kingdom.

See electricity, gas, water and waste in Canada.

See electricity, gas, water and waste in the United States.

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Electricity, gas, water and waste in Australia: deals, margins and survival · onestepright