Singapore Airlines Limited's (SGX:C6L) Popularity With Investors Is Under Threat From Overpricing
Apr 11
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Singaporean (SGX) Market Analysis & Valuation
UpdatedApr 13, 2025
DataAggregated Company Financials
Companies516
- 7D-7.0%
- 3M-5.9%
- 1Y6.6%
- YTD-6.2%
Over the last 7 days, the market has dropped 7.0%, driven by declines in every sector, especially the Financials sector. As for the longer term, the market has actually risen by 6.6% in the last year. Looking forward, earnings are forecast to grow by 10% annually.
Trending IndustriesOil and Gas
Market Valuation and Performance
Has the Singaporean Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 13 Apr 2025 | S$672.5b | S$552.9b | S$47.5b | 11.3x | 14.2x | 1.2x |
| Tue, 11 Mar 2025 | S$730.8b | S$554.6b | S$48.6b | 11.6x | 15x | 1.3x |
| Thu, 06 Feb 2025 | S$717.4b | S$545.0b | S$43.6b | 12x | 16.5x | 1.3x |
| Sat, 04 Jan 2025 | S$718.2b | S$548.6b | S$43.6b | 11.6x | 16.5x | 1.3x |
| Mon, 02 Dec 2024 | S$708.1b | S$544.1b | S$43.5b | 11.8x | 16.3x | 1.3x |
| Wed, 30 Oct 2024 | S$695.7b | S$537.1b | S$43.9b | 11.5x | 15.8x | 1.3x |
| Fri, 27 Sep 2024 | S$708.8b | S$539.7b | S$44.9b | 11.3x | 15.8x | 1.3x |
| Sun, 25 Aug 2024 | S$671.7b | S$546.3b | S$44.9b | 11x | 15x | 1.2x |
| Tue, 23 Jul 2024 | S$680.4b | S$546.9b | S$44.6b | 11.8x | 15.3x | 1.2x |
| Thu, 20 Jun 2024 | S$657.2b | S$547.8b | S$44.4b | 11.7x | 14.8x | 1.2x |
| Sat, 18 May 2024 | S$658.6b | S$546.8b | S$46.9b | 11.6x | 14x | 1.2x |
| Mon, 15 Apr 2024 | S$647.0b | S$547.7b | S$46.8b | 12x | 13.8x | 1.2x |
| Wed, 13 Mar 2024 | S$632.2b | S$543.2b | S$47.1b | 11.4x | 13.4x | 1.2x |
| Fri, 09 Feb 2024 | S$634.5b | S$554.8b | S$49.7b | 11.8x | 12.8x | 1.1x |
| Sun, 07 Jan 2024 | S$656.9b | S$570.6b | S$52.2b | 12.5x | 12.6x | 1.2x |
| Tue, 05 Dec 2023 | S$641.1b | S$572.6b | S$52.4b | 12.1x | 12.2x | 1.1x |
| Thu, 02 Nov 2023 | S$641.1b | S$575.4b | S$52.4b | 12x | 12.2x | 1.1x |
| Sat, 30 Sep 2023 | S$672.0b | S$574.2b | S$52.5b | 12.8x | 12.8x | 1.2x |
| Mon, 28 Aug 2023 | S$670.8b | S$572.8b | S$52.7b | 13.1x | 12.7x | 1.2x |
| Wed, 26 Jul 2023 | S$697.5b | S$575.8b | S$56.7b | 12.1x | 12.3x | 1.2x |
| Fri, 23 Jun 2023 | S$689.5b | S$578.0b | S$56.8b | 11.4x | 12.1x | 1.2x |
| Sun, 21 May 2023 | S$691.7b | S$579.2b | S$56.6b | 11.4x | 12.2x | 1.2x |
| Tue, 18 Apr 2023 | S$711.1b | S$569.2b | S$54.0b | 11.6x | 13.2x | 1.2x |
| Thu, 16 Mar 2023 | S$684.5b | S$572.1b | S$54.3b | 11.2x | 12.6x | 1.2x |
| Sat, 11 Feb 2023 | S$718.6b | S$558.5b | S$57.6b | 10.5x | 12.5x | 1.3x |
| Mon, 09 Jan 2023 | S$700.2b | S$559.8b | S$57.7b | 10.4x | 12.1x | 1.3x |
| Wed, 07 Dec 2022 | S$698.0b | S$562.5b | S$57.8b | 10.5x | 12.1x | 1.2x |
| Fri, 04 Nov 2022 | S$672.0b | S$561.1b | S$54.8b | 10x | 12.3x | 1.2x |
| Sun, 02 Oct 2022 | S$676.0b | S$564.4b | S$54.8b | 10.4x | 12.3x | 1.2x |
| Tue, 30 Aug 2022 | S$705.5b | S$558.2b | S$54.7b | 10.8x | 12.9x | 1.3x |
| Thu, 28 Jul 2022 | S$702.6b | S$531.8b | S$47.6b | 11.5x | 14.8x | 1.3x |
| Sat, 25 Jun 2022 | S$689.9b | S$531.9b | S$47.7b | 11.4x | 14.5x | 1.3x |
| Mon, 23 May 2022 | S$700.9b | S$529.1b | S$47.0b | 11.9x | 14.9x | 1.3x |
| Wed, 20 Apr 2022 | S$721.8b | S$524.2b | S$45.9b | 12.1x | 15.7x | 1.4x |
Price to Earnings Ratio
15.7x
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 13.7x.
Past Earnings Growth
- Both revenue and earnings for Singaporean listed companies have remained mostly flat over the last three years.
- This means sales and the cost of doing business have remained relatively consistent over this period and subsequently, so have profits.
Sector Trends
Which sectors have driven the changes within the Singaporean Market?
| SG Market | -7.03% | |
| Telecom | -0.90% | |
| Utilities | -3.27% | |
| Healthcare | -3.37% | |
| Consumer Discretionary | -4.05% | |
| Consumer Staples | -4.74% | |
| Materials | -5.04% | |
| Industrials | -5.96% | |
| Energy | -6.09% | |
| Real Estate | -7.03% | |
| Tech | -8.21% | |
| Financials | -9.92% | |
Sector PE
- Investors favour the Telecom sector the most for future growth, which is trading above its 3-year average PE ratio of 29.8x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 23.4% which is higher than its past year's earnings decline of 18.1% per year.
- The Energy sector is the least preferred by investors for future growth, which is trading close to its 3-year average of 7.2x.
Forecasted Growth
- Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 27% over the next 5 years.
- This is better than its past earnings growth rate of 12% per year.
- In contrast, the Financials sector is expected to see its earnings grow by 3.3% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| QNS Southern Alliance Mining | S$0.59 | 28.3% +S$63.5m | 21.6% | PS6.7x | Materials | |
| BMGU BHG Retail REIT | S$0.48 | 9.1% +S$20.8m | n/a | PB0.7x | Real Estate | |
| BTM Penguin International | S$1.05 | 9.4% +S$19.8m | n/a | PE6.5x | Industrials | |
| H20 Hoe Leong | S$0.002 | 100.0% +S$15.1m | 0% | PE41.6x | Industrials | |
| LJ3 OUE | S$0.95 | 2.2% +S$15.1m | -12.8% | PS1.1x | Real Estate |
