Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Singaporean (SGX) Market Analysis & Valuation

UpdatedFeb 10, 2026
DataAggregated Company Financials
Companies506
  • 7D1.6%
  • 3M8.3%
  • 1Y29.1%
  • YTD6.3%

Over the last 7 days, the market has risen 1.6%, driven by gains in every sector, especially the Industrials sector. In the last year, the market has climbed 29%. Looking forward, earnings are forecast to grow by 7.6% annually.

Trending IndustriesOil and Gas

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 10 Feb 2026S$940.2bS$560.5bS$56.1b15x16.8x1.7x
Thu, 08 Jan 2026S$900.4bS$561.4bS$55.2b14.8x16.3x1.6x
Sat, 06 Dec 2025S$867.4bS$563.3bS$55.3b15.1x15.7x1.5x
Mon, 03 Nov 2025S$852.9bS$565.1bS$56.6b14.8x15.1x1.5x
Wed, 01 Oct 2025S$828.3bS$563.3bS$56.4b14.4x14.7x1.5x
Fri, 29 Aug 2025S$815.9bS$562.1bS$56.3b14x14.5x1.5x
Sun, 27 Jul 2025S$808.8bS$540.9bS$50.6b13.7x16x1.5x
Tue, 24 Jun 2025S$731.7bS$543.7bS$51.3b12.6x14.3x1.3x
Thu, 22 May 2025S$733.6bS$548.7bS$48.6b12.2x15.1x1.3x
Sat, 19 Apr 2025S$706.8bS$551.6bS$47.4b11.4x14.9x1.3x
Mon, 17 Mar 2025S$723.6bS$555.7bS$47.7b11.6x15.2x1.3x
Wed, 12 Feb 2025S$723.8bS$546.8bS$44.8b11.7x16.1x1.3x
Fri, 10 Jan 2025S$723.6bS$548.2bS$43.7b11.9x16.6x1.3x
Sun, 08 Dec 2024S$717.5bS$544.6bS$43.5b11.9x16.5x1.3x
Tue, 05 Nov 2024S$692.9bS$535.6bS$43.8b11.7x15.8x1.3x
Thu, 03 Oct 2024S$711.4bS$539.9bS$44.9b11.6x15.9x1.3x
Sat, 31 Aug 2024S$681.5bS$545.4bS$44.9b11x15.2x1.2x
Mon, 29 Jul 2024S$678.3bS$546.7bS$44.6b11.9x15.2x1.2x
Wed, 26 Jun 2024S$660.3bS$548.2bS$44.4b11.9x14.9x1.2x
Fri, 24 May 2024S$659.8bS$546.8bS$44.6b11.7x14.8x1.2x
Sun, 21 Apr 2024S$636.0bS$547.6bS$46.8b11.8x13.6x1.2x
Tue, 19 Mar 2024S$635.3bS$544.1bS$47.0b11.4x13.5x1.2x
Thu, 15 Feb 2024S$635.2bS$554.9bS$49.9b12x12.7x1.1x
Sat, 13 Jan 2024S$654.4bS$570.5bS$52.0b12.5x12.6x1.1x
Mon, 11 Dec 2023S$643.4bS$572.2bS$52.3b12.1x12.3x1.1x
Wed, 08 Nov 2023S$659.6bS$573.9bS$52.1b12.3x12.7x1.1x
Fri, 06 Oct 2023S$670.8bS$574.9bS$52.5b12.3x12.8x1.2x
Sun, 03 Sep 2023S$679.2bS$572.7bS$52.4b13.4x13x1.2x
Tue, 01 Aug 2023S$709.6bS$580.0bS$56.3b12.1x12.6x1.2x
Thu, 29 Jun 2023S$685.4bS$579.4bS$56.8b11.8x12.1x1.2x
Sat, 27 May 2023S$684.2bS$579.8bS$56.7b11.4x12.1x1.2x
Mon, 24 Apr 2023S$711.5bS$569.6bS$54.0b11.7x13.2x1.2x
Wed, 22 Mar 2023S$593.3bS$558.3bS$48.1b11x12.3x1.1x
Fri, 17 Feb 2023S$709.7bS$561.0bS$58.2b10.6x12.2x1.3x
Price to Earnings Ratio

12.2x


Total Market Cap: S$709.7bTotal Earnings: S$58.2bTotal Revenue: S$561.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Singaporean Market Price to Earnings3Y Average 14.3x202420252026
Current Market PE
  • Investors are optimistic on the Singaporean market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 16.8x which is higher than its 3-year average PE of 14.3x.
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 Market1.62%
Industrials4.20%
Materials2.99%
Telecom2.90%
Healthcare2.84%
Tech2.63%
Utilities2.35%
Consumer Staples2.01%
Consumer Discretionary1.31%
Real Estate1.28%
Energy0.55%
Financials0.15%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading close to its 3-year average PE ratio of 43.7x.
    • Analysts are expecting annual earnings growth of 9.2%, which is lower than the prior year's growth of 11.3% per year.
  • The Utilities sector is the least preferred by investors for future growth, which is trading close to its 3-year average of 10.0x.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 51% over the next 5 years.
  • This is better than its past earnings growth rate of 0.7% per year.
  • In contrast, the Telecom sector is expected to see its earnings decline by 13% 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
BN4 KeppelS$12.5014.8%
+S$2.9b		85.5%PE21.3xIndustrials
C6L Singapore AirlinesS$6.804.9%
+S$1.0b		6.9%PE9.4xIndustrials
C38U CapitaLand Integrated Commercial TrustS$2.495.1%
+S$913.4m		25.1%PB1.2xReal Estate
U11 United Overseas BankS$38.921.3%
+S$809.3m		3.8%PB1.4xFinancials
F34 Wilmar InternationalS$3.473.0%
+S$624.3m		6.1%PE14.4xConsumer Staples
See more

Market Insights

Header cover image
Why alternative investments are making a splash 🖼️
Richard Bowman avatar
Richard Bowman
|
|
Is it the time to invest in alternatives? Here's how you can get exposure.
Continue reading
Why longer lifespans could reshape portfolios 🧓
Last Week

Why longer lifespans could reshape portfolios 🧓

Latest News

D05
S$57.80
DBS Group Holdings
7D
-2.1%
1Y
28.9%
BN4
S$12.50
Keppel
7D
14.8%
1Y
85.5%
C38U
S$2.49
CapitaLand Integrated Commercial Trust
7D
5.1%
1Y
25.1%

Results: CapitaLand Integrated Commercial Trust Exceeded Expectations And The Consensus Has Updated Its Estimates

Feb 09
Results: CapitaLand Integrated Commercial Trust Exceeded Expectations And The Consensus Has Updated Its Estimates
A17U
S$2.79
CapitaLand Ascendas REIT
7D
-2.1%
1Y
5.7%
C07
S$33.42
Jardine Cycle & Carriage
7D
3.1%
1Y
25.2%

C07: Leadership Transition And Flat Margins Will Likely Restrain Future Earnings Multiple

Analysts have kept their fair value estimate for Jardine Cycle & Carriage unchanged. A slightly higher discount rate and a small increase in the assumed future P/E multiple are leading them to fine tune their price target rather than shift it meaningfully.
AIY
S$9.89
iFAST
7D
-3.3%
1Y
31.2%
H78
US$8.56
Hongkong Land Holdings
7D
-1.3%
1Y
106.8%
Y92
S$0.47
Thai Beverage
7D
-1.1%
1Y
-6.9%

Y92: Governance Revisions And Rich P/E Will Restrain Future Upside

Analysts have modestly raised their price target on Thai Beverage, citing slightly higher assumptions for revenue growth, profit margins and future P/E. These changes together lift their estimated fair value to about $0.39.
U11
S$38.92
United Overseas Bank
7D
1.3%
1Y
3.8%

U11: Future Returns Will Balance Asset Quality Risks And Limited Upside Potential

Analysts have adjusted their fair value estimate for United Overseas Bank to S$37.28 from S$35.84, reflecting updated assumptions around discount rate, revenue growth, profit margin and future P/E, while also acknowledging that recent concerns over asset quality could limit upside. Analyst Commentary Recent research views on United Overseas Bank are mixed, with the revised fair value estimate and a S$38 price target indicating that analysts see the shares as close to fully valued, especially when set against recent concerns over asset quality.
Z74
S$4.82
Singapore Telecommunications
7D
-0.8%
1Y
44.3%
S63
S$10.13
Singapore Technologies Engineering
7D
1.8%
1Y
105.1%

Rising Defense Spending And Satcom Shifts Will Pressure Margins And Future Earnings Potential

Catalysts About Singapore Technologies Engineering Singapore Technologies Engineering is a global technology, defense and engineering group with businesses across commercial aerospace, defense and public security, and urban solutions and satellite communications. What are the underlying business or industry changes driving this perspective?
5E2
S$2.08
Seatrium
7D
-1.4%
1Y
-3.7%

5E2: Offshore Energy Contracts Will Support Long-Term Earnings Resilience

Analysts have modestly adjusted their price target on Seatrium, reflecting slight tweaks to the discount rate, revenue growth expectations, profit margin outlook and forward P/E assumptions, while keeping their fair value estimate broadly unchanged at about $2.73. What's in the News GE Vernova and Seatrium secured a consortium contract from TenneT for the BalWin5 2.2 GW offshore HVDC grid connection in the German North Sea, intended to transmit electricity from offshore wind farms to Germany's onshore network and support the country's energy transition goals (Key Developments).
ME8U
S$2.04
Mapletree Industrial Trust
7D
-2.4%
1Y
-1.0%
C6L
S$6.80
Singapore Airlines
7D
4.9%
1Y
6.9%
U06
S$3.88
Singapore Land Group
7D
7.5%
1Y
110.9%

There's Reason For Concern Over Singapore Land Group Limited's (SGX:U06) Price

Jan 26
There's Reason For Concern Over Singapore Land Group Limited's (SGX:U06) Price
F34
S$3.47
Wilmar International
7D
3.0%
1Y
6.1%