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Singaporean (SGX) Market Analysis & Valuation

UpdatedApr 06, 2026
DataAggregated Company Financials
Companies504
  • 7D0.8%
  • 3M5.1%
  • 1Y28.6%
  • YTD5.5%

The market has been flat over the last week. Meanwhile, the market is actually up 29% over the past year. Earnings are forecast to grow by 4.8% annually.

Trending IndustriesOil and Gas

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 06 Apr 2026S$943.3bS$533.9bS$60.4b14x15.6x1.8x
Wed, 04 Mar 2026S$939.8bS$534.6bS$57.5b14.4x16.4x1.8x
Fri, 30 Jan 2026S$933.6bS$560.3bS$55.5b15.6x16.8x1.7x
Sun, 28 Dec 2025S$883.5bS$562.0bS$55.3b14.6x16x1.6x
Tue, 25 Nov 2025S$863.6bS$564.9bS$55.2b14.6x15.6x1.5x
Thu, 23 Oct 2025S$844.5bS$564.5bS$56.4b14.6x15x1.5x
Sat, 20 Sep 2025S$830.9bS$562.6bS$56.3b14.5x14.8x1.5x
Mon, 18 Aug 2025S$802.2bS$554.1bS$55.2b13.6x14.5x1.4x
Wed, 16 Jul 2025S$779.2bS$542.4bS$51.2b13x15.2x1.4x
Fri, 13 Jun 2025S$741.1bS$542.2bS$51.3b12.5x14.5x1.4x
Sun, 11 May 2025S$731.8bS$550.2bS$47.6b11.9x15.4x1.3x
Tue, 08 Apr 2025S$671.6bS$557.1bS$47.6b11x14.1x1.2x
Thu, 06 Mar 2025S$730.7bS$555.8bS$48.5b11.8x15.1x1.3x
Sat, 01 Feb 2025S$724.4bS$546.4bS$43.5b12x16.6x1.3x
Mon, 30 Dec 2024S$712.0bS$547.2bS$43.6b11.6x16.3x1.3x
Wed, 27 Nov 2024S$702.9bS$542.7bS$43.5b11.7x16.2x1.3x
Fri, 25 Oct 2024S$699.5bS$536.4bS$44.0b11.8x15.9x1.3x
Sun, 22 Sep 2024S$713.6bS$540.3bS$44.9b11.4x15.9x1.3x
Tue, 20 Aug 2024S$664.4bS$547.7bS$45.0b10.7x14.8x1.2x
Thu, 18 Jul 2024S$688.1bS$546.4bS$44.6b11.9x15.4x1.3x
Sat, 15 Jun 2024S$655.9bS$548.2bS$44.4b11.8x14.8x1.2x
Mon, 13 May 2024S$658.2bS$547.2bS$46.9b11.6x14x1.2x
Wed, 10 Apr 2024S$650.6bS$545.3bS$47.0b11.8x13.8x1.2x
Fri, 08 Mar 2024S$630.6bS$542.6bS$48.8b11x12.9x1.2x
Sun, 04 Feb 2024S$648.1bS$572.3bS$50.7b12.3x12.8x1.1x
Tue, 02 Jan 2024S$666.8bS$569.2bS$52.1b12.7x12.8x1.2x
Thu, 30 Nov 2023S$641.9bS$572.3bS$52.4b11.7x12.3x1.1x
Sat, 28 Oct 2023S$637.8bS$575.0bS$52.4b12.1x12.2x1.1x
Mon, 25 Sep 2023S$670.8bS$574.5bS$52.5b12.9x12.8x1.2x
Wed, 23 Aug 2023S$666.3bS$572.9bS$53.1b12.4x12.6x1.2x
Fri, 21 Jul 2023S$694.8bS$574.9bS$56.6b11.9x12.3x1.2x
Sun, 18 Jun 2023S$697.6bS$577.3bS$56.8b11.6x12.3x1.2x
Tue, 16 May 2023S$691.4bS$573.7bS$55.2b11.5x12.5x1.2x
Thu, 13 Apr 2023S$706.1bS$569.0bS$54.0b11.7x13.1x1.2x
Price to Earnings Ratio

13.1x


Total Market Cap: S$706.1bTotal Earnings: S$54.0bTotal Revenue: S$569.0bTotal 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 3.8% per year over the last three years.
  • Meanwhile revenues for these companies have declined 2.1% 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 Market0.76%
Utilities2.99%
Energy1.89%
Financials1.41%
Materials1.21%
Consumer Staples0.99%
Consumer Discretionary0.70%
Healthcare0.48%
Industrials0.24%
Real Estate0.22%
Telecom-0.028%
Tech-1.29%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 47.2x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 11.6% which is higher than its past year's earnings decline of 4.4% 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 26% over the next 5 years.
  • This is better than its past earnings growth rate of 4.2% 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$22.443.7%
+S$3.6b		45.1%PB1.6xFinancials
D05 DBS Group HoldingsS$57.631.2%
+S$1.9b		46.7%PB2.4xFinancials
S63 Singapore Technologies EngineeringS$11.202.1%
+S$838.8m		80.1%PE75.8xIndustrials
S68 Singapore ExchangeS$20.353.2%
+S$684.6m		72.6%PE33.5xFinancials
U11 United Overseas BankS$36.901.0%
+S$592.7m		11.0%PB1.3xFinancials
See more

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Latest News

F03
S$2.99
Food Empire Holdings
7D
-2.9%
1Y
145.1%
S68
S$20.35
Singapore Exchange
7D
3.2%
1Y
72.6%
C07
S$34.15
Jardine Cycle & Carriage
7D
-3.4%
1Y
43.1%
BN4
S$11.88
Keppel
7D
0.7%
1Y
101.4%

BN4: Fair Outlook Will Rely On Data Centre Expansion And Downgrade Risks

Analysts have trimmed their SGD price target for Keppel by SGD0.19 to reflect a slightly higher discount rate, modestly lower profit margin assumptions and a marginally reduced forward P/E multiple, even as projected revenue growth is adjusted higher. Analyst Commentary Recent research, including a downgrade from JPMorgan, highlights a mix of optimism and caution around Keppel, with views clustered around how the revised assumptions feed into valuation, execution risk and growth expectations.
V03
S$15.48
Venture
7D
-0.7%
1Y
42.3%
A17U
S$2.51
CapitaLand Ascendas REIT
7D
-0.4%
1Y
-2.7%
42S
S$0.04
Astaka Holdings
7D
-42.9%
1Y
n/a
D05
S$57.63
DBS Group Holdings
7D
1.2%
1Y
46.7%
C2PU
S$3.95
Parkway Life Real Estate Investment Trust
7D
-1.3%
1Y
-3.7%
S63
S$11.20
Singapore Technologies Engineering
7D
2.1%
1Y
80.1%

S63: Contract Momentum And Higher Dividends Will Support Steady Returns

Analysts have lifted their price target for Singapore Technologies Engineering from SGD 10.84 to SGD 11.26, citing updated assumptions around revenue growth, profit margins, discount rate and future P/E multiples. What's in the News Proposed final and special tax exempt dividends of SGD 0.06 and SGD 0.05 per share for FY2025, subject to shareholder approval at the AGM scheduled for 23 April 2026.
O39
S$22.44
Oversea-Chinese Banking
7D
3.7%
1Y
45.1%
AWX
S$4.27
AEM Holdings
7D
-3.0%
1Y
318.6%
ULG
US$1.43
UltraGreen.ai
7D
-2.7%
1Y
n/a
BS6
S$3.95
Yangzijiang Shipbuilding (Holdings)
7D
3.7%
1Y
105.7%
U11
S$36.90
United Overseas Bank
7D
1.0%
1Y
11.0%
BDX
S$0.16
GSH
7D
-8.2%
1Y
-2.5%