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Singaporean (SGX) Market Analysis & Valuation

UpdatedMay 11, 2026
DataAggregated Company Financials
Companies504
  • 7D0.5%
  • 3M0.2%
  • 1Y28.2%
  • YTD6.4%

The Information Technology sector gained 6.5% while the market remained flat over the last week. As for the longer term, the market has risen 28% in the past 12 months. Earnings are forecast to grow by 5.7% annually.

Trending IndustriesOil and Gas

Market Valuation and Performance

Has the Singaporean Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 11 May 2026S$952.9bS$531.4bS$60.0b14.6x15.9x1.8x
Wed, 08 Apr 2026S$948.3bS$533.5bS$60.4b14.2x15.7x1.8x
Fri, 06 Mar 2026S$926.1bS$536.4bS$56.7b14x16.3x1.7x
Sun, 01 Feb 2026S$928.8bS$561.2bS$55.7b15.2x16.7x1.7x
Tue, 30 Dec 2025S$883.5bS$562.1bS$55.2b14.7x16x1.6x
Thu, 27 Nov 2025S$864.4bS$563.7bS$55.1b14.8x15.7x1.5x
Sat, 25 Oct 2025S$852.3bS$564.7bS$56.5b14.8x15.1x1.5x
Mon, 22 Sep 2025S$830.9bS$562.7bS$56.3b14.5x14.8x1.5x
Wed, 20 Aug 2025S$800.2bS$554.1bS$55.2b13.7x14.5x1.4x
Fri, 18 Jul 2025S$788.3bS$543.1bS$51.1b13.1x15.4x1.5x
Sun, 15 Jun 2025S$737.9bS$542.7bS$51.3b12.5x14.4x1.4x
Tue, 13 May 2025S$731.8bS$551.2bS$47.6b12x15.4x1.3x
Thu, 10 Apr 2025S$651.1bS$556.9bS$47.6b10.7x13.7x1.2x
Sat, 08 Mar 2025S$733.5bS$554.7bS$48.8b11.7x15x1.3x
Mon, 03 Feb 2025S$724.4bS$546.6bS$43.5b12x16.7x1.3x
Wed, 01 Jan 2025S$714.5bS$547.8bS$43.6b11.8x16.4x1.3x
Fri, 29 Nov 2024S$707.1bS$544.8bS$43.5b11.5x16.2x1.3x
Sun, 27 Oct 2024S$697.4bS$536.7bS$43.9b11.8x15.9x1.3x
Tue, 24 Sep 2024S$713.7bS$540.3bS$44.9b11.4x15.9x1.3x
Thu, 22 Aug 2024S$668.1bS$547.1bS$44.9b10.9x14.9x1.2x
Sat, 20 Jul 2024S$681.4bS$547.0bS$44.6b11.9x15.3x1.2x
Mon, 17 Jun 2024S$656.0bS$548.2bS$44.4b11.8x14.8x1.2x
Wed, 15 May 2024S$656.7bS$539.6bS$48.8b11.5x13.4x1.2x
Fri, 12 Apr 2024S$649.2bS$546.4bS$47.0b11.8x13.8x1.2x
Sun, 10 Mar 2024S$620.4bS$531.6bS$47.9b11.6x13x1.2x
Tue, 06 Feb 2024S$634.1bS$554.6bS$49.7b12.1x12.8x1.1x
Thu, 04 Jan 2024S$660.3bS$570.4bS$52.2b12.6x12.7x1.2x
Sat, 02 Dec 2023S$641.8bS$572.9bS$52.4b12x12.2x1.1x
Mon, 30 Oct 2023S$637.8bS$575.1bS$52.4b12.1x12.2x1.1x
Wed, 27 Sep 2023S$672.0bS$574.7bS$52.5b12.8x12.8x1.2x
Fri, 25 Aug 2023S$669.8bS$572.5bS$53.1b12.4x12.6x1.2x
Sun, 23 Jul 2023S$695.5bS$576.1bS$56.7b11.9x12.3x1.2x
Tue, 20 Jun 2023S$693.9bS$577.9bS$56.8b11.5x12.2x1.2x
Thu, 18 May 2023S$688.7bS$574.3bS$55.2b11.5x12.5x1.2x
Price to Earnings Ratio

12.5x


Total Market Cap: S$688.7bTotal Earnings: S$55.2bTotal Revenue: S$574.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Singaporean Market Price to Earnings3Y Average 14.5x202420252026
Current Market PE
  • Investors are relatively neutral on the Singaporean market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio of 14.5x.
Past Earnings Growth
  • The earnings for Singaporean listed companies have grown 2.8% per year over the last three years.
  • Meanwhile revenues for these companies have declined 2.6% per year.
  • This means that less sales are being generated overall, but since the cost of doing business is lower, profits are increasing.

Sector Trends

Which sectors have driven the changes within the Singaporean Market?

SG Market0.51%
Tech6.53%
Consumer Staples2.65%
Telecom1.83%
Consumer Discretionary0.81%
Industrials0.48%
Healthcare0.34%
Financials0.19%
Materials0.099%
Real Estate-0.35%
Energy-1.38%
Utilities-3.61%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 50.7x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 14.2% which is higher than its past year's earnings decline of 3.3% per year.
  • The Utilities sector is the least preferred by investors for future growth, which is trading close to its 3-year average of 9.9x.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 25% over the next 5 years.
  • This is better than its past earnings growth rate of 8.2% per year.
  • In contrast, the Telecom sector is expected to see its earnings decline by 16% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
O39 Oversea-Chinese BankingS$22.502.9%
+S$2.8b		38.6%PB1.6xFinancials
U11 United Overseas BankS$36.992.3%
+S$1.4b		6.2%PB1.3xFinancials
Z74 Singapore TelecommunicationsS$4.751.7%
+S$1.3b		21.8%PE11.5xTelecom
H78 Hongkong Land HoldingsUS$8.395.7%
+US$966.6m		67.1%PE14.3xReal Estate
J36 Jardine Matheson HoldingsUS$71.464.4%
+US$888.2m		53.7%PE18.9xIndustrials
See more

Market Insights

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Latest News

C38U
S$2.30
CapitaLand Integrated Commercial Trust
7D
-2.5%
1Y
9.5%
H22
S$3.39
Hong Leong Asia
7D
15.7%
1Y
211.0%
O39
S$22.50
Oversea-Chinese Banking
7D
2.9%
1Y
38.6%
U11
S$36.99
United Overseas Bank
7D
2.3%
1Y
6.2%
5E2
S$2.23
Seatrium
7D
-5.1%
1Y
9.9%
Z74
S$4.75
Singapore Telecommunications
7D
1.7%
1Y
21.8%
V03
S$18.01
Venture
7D
5.4%
1Y
63.1%
S68
S$20.96
Singapore Exchange
7D
-1.9%
1Y
45.6%
Narrative Update • May 05

S68: New Bond Futures And Buybacks Will Support Balanced Returns Ahead

Analysts have raised the SGD fair value estimate for Singapore Exchange to about SGD20.30 from around SGD19.96, citing updated assumptions for the discount rate, revenue growth, profit margin, and future P/E, which together support a slightly higher price target. What's in the News SGX Derivatives plans to launch Asia Pacific Government Bond Futures on 20 April, giving investors a way to manage sovereign interest rate risk across India, Indonesia, Malaysia, Thailand and the Philippines through exchange listed contracts settled in US$, with 3-year, 5-year and 10-year maturities based on FTSE Russell’s Asia Pacific Liquid Government Bond Index Series (Key Developments).
U96
S$6.18
Sembcorp Industries
7D
-7.5%
1Y
-6.2%
D05
S$58.77
DBS Group Holdings
7D
0.3%
1Y
34.5%
H78
US$8.39
Hongkong Land Holdings
7D
5.7%
1Y
67.1%
BS6
S$3.91
Yangzijiang Shipbuilding (Holdings)
7D
-10.9%
1Y
84.4%
U14
S$10.21
UOL Group
7D
-4.6%
1Y
77.3%
P8Z
S$1.84
Bumitama Agri
7D
-12.8%
1Y
145.3%
F34
S$3.66
Wilmar International
7D
-1.6%
1Y
19.6%
J36
US$71.46
Jardine Matheson Holdings
7D
4.4%
1Y
53.7%
Narrative Update • Apr 20

J36: Dividend Visibility And Stable Earnings Guidance Will Support Measured Upside Ahead

Analysts have adjusted their view on Jardine Matheson Holdings, lifting the implied fair value estimate from about $80.40 to $84.00 as they recalibrate assumptions for revenue growth, profit margin, and future P/E levels. What's in the News Proposed final dividend of US$1.75 per share for 2025, payable on 13 May 2026, subject to approval at the AGM on 7 May 2026, with shareholders on the register by 20 March 2026 eligible and the shares quoted ex dividend on 19 March 2026 (Key Developments).