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Singaporean (SGX) Financials Sector Analysis

UpdatedFeb 26, 2026
DataAggregated Company Financials
Companies24
  • 7D0.5%
  • 3M9.9%
  • 1Y18.4%
  • YTD4.6%

In the last week, the Financials industry is flat overall, with United Overseas Bank standing out by going down 4.9%. The past year has been better, since the industry has gained 18% in that time. As for the next few years, earnings are expected to grow by 5.2% per annum.

Sector Valuation and Performance

Has the Singaporean Financials Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 26 Feb 2026S$366.9bS$59.5bS$25.6b14.6x14.3x6.2x
Sat, 24 Jan 2026S$366.0bS$59.4bS$25.6b14.1x14.3x6.2x
Mon, 22 Dec 2025S$337.9bS$59.4bS$25.6b13x13.2x5.7x
Wed, 19 Nov 2025S$327.5bS$59.5bS$25.6b12x12.8x5.5x
Fri, 17 Oct 2025S$321.1bS$60.8bS$26.8b11.4x12x5.3x
Sun, 14 Sep 2025S$320.5bS$60.7bS$26.8b12.2x11.9x5.3x
Tue, 12 Aug 2025S$309.1bS$53.0bS$25.8b12.9x12x5.8x
Thu, 10 Jul 2025S$293.0bS$52.8bS$26.0b11.2x11.3x5.6x
Sat, 07 Jun 2025S$285.8bS$52.8bS$26.0b10.9x11x5.4x
Mon, 05 May 2025S$277.7bS$52.6bS$26.2b10.8x10.6x5.3x
Wed, 02 Apr 2025S$296.1bS$52.6bS$26.2b11x11.3x5.6x
Fri, 28 Feb 2025S$299.6bS$52.6bS$26.3b10.7x11.4x5.7x
Sun, 26 Jan 2025S$284.6bS$51.8bS$25.4b10.7x11.2x5.5x
Tue, 24 Dec 2024S$279.8bS$51.8bS$25.4b10.4x11x5.4x
Thu, 21 Nov 2024S$276.3bS$51.7bS$25.4b10.7x10.9x5.3x
Sat, 19 Oct 2024S$258.0bS$50.3bS$24.7b10.3x10.5x5.1x
Mon, 16 Sep 2024S$263.2bS$57.7bS$25.6b10.3x10.3x4.6x
Wed, 14 Aug 2024S$239.2bS$57.6bS$25.6b9.2x9.3x4.2x
Fri, 12 Jul 2024S$263.2bS$56.4bS$25.0b10.5x10.5x4.7x
Sun, 09 Jun 2024S$247.1bS$56.4bS$25.0b9.7x9.9x4.4x
Tue, 07 May 2024S$243.9bS$56.2bS$24.9b9.8x9.8x4.3x
Thu, 04 Apr 2024S$230.1bS$55.5bS$24.6b9.4x9.3x4.1x
Sat, 02 Mar 2024S$218.7bS$55.5bS$24.6b10.2x8.9x3.9x
Mon, 29 Jan 2024S$215.8bS$61.5bS$24.8b8.7x8.7x3.5x
Wed, 27 Dec 2023S$215.7bS$61.7bS$25.0b9.2x8.6x3.5x
Fri, 24 Nov 2023S$216.2bS$61.7bS$25.0b10x8.7x3.5x
Sun, 22 Oct 2023S$219.3bS$60.5bS$24.2b10.2x9.1x3.6x
Tue, 19 Sep 2023S$225.1bS$60.5bS$24.2b10.4x9.3x3.7x
Thu, 17 Aug 2023S$219.0bS$60.5bS$24.2b12.3x9.1x3.6x
Sat, 15 Jul 2023S$214.9bS$57.2bS$22.3b12.3x9.6x3.8x
Mon, 12 Jun 2023S$212.0bS$57.2bS$22.3b11.2x9.5x3.7x
Wed, 10 May 2023S$213.8bS$56.6bS$21.8b11.6x9.8x3.8x
Fri, 07 Apr 2023S$223.9bS$54.2bS$20.4b12.2x11x4.1x
Sun, 05 Mar 2023S$222.0bS$54.1bS$20.6b11.8x10.8x4.1x
Price to Earnings Ratio

10.8x


Total Market Cap: S$222.0bTotal Earnings: S$20.6bTotal Revenue: S$54.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Singaporean Financials Sector Price to Earnings3Y Average 10.5x202420252026
Current Industry PE
  • Investors are optimistic on the Singaporean Financials industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 14.3x which is higher than its 3-year average PE of 10.5x.
  • The 3-year average PS ratio of 4.7x is lower than the industry's current PS ratio of 6.2x.
Past Earnings Growth
  • The earnings for companies in the Financials industry have grown 7.5% per year over the last three years.
  • Revenues for these companies have grown 3.2% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Singaporean Financials sector?

SG Market1.48%
Financials0.52%
Insurance3.78%
Consumer Finance2.66%
Diversified Financial1.92%
Banks0.39%
Capital Markets-0.059%
Industry PE
  • Investors are most optimistic about the Diversified Financial industry which is trading above its 3-year average PE ratio.
    • It looks like they are confident that earnings will grow faster in the future than they have historically.
  • Investors are most pessimistic about the Consumer Finance industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 9.2x.
Forecasted Growth
  • Analysts are most optimistic on the Capital Markets industry, expecting annual earnings growth of 8.7% over the next 5 years.
  • This is better than its past earnings decline of 0.9% per year.
  • In contrast, the Banks industry is expected to see its earnings grow by 5.0% per year over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
G07 Great Eastern HoldingsS$16.192.7%
+S$7.4b		n/aPE12.7x
T6I ValueMax GroupS$1.213.4%
+S$37.7m		144.4%PE11.2x
P15 Pacific Century Regional DevelopmentsS$0.522.0%
+S$26.5m		33.3%PS436.5x
BLS Hotung Investment HoldingsS$1.504.2%
+S$5.7m		10.3%PE17.6x
T55 TIHS$0.256.4%
+S$3.6m		6.4%PE6x

Latest News

S41
S$2.57
Hong Leong Finance
7D
-6.5%
1Y
2.8%
BLS
S$1.50
Hotung Investment Holdings
7D
4.2%
1Y
10.3%
O39
S$21.34
Oversea-Chinese Banking
7D
-1.2%
1Y
22.9%
YF8
S$0.29
Yangzijiang Financial Holding
7D
-16.9%
1Y
-47.8%
G07
S$16.19
Great Eastern Holdings
7D
2.7%
1Y
n/a
42T
S$0.064
Trendlines Group
7D
1.6%
1Y
52.4%
I49
S$0.18
IFS Capital
7D
1.1%
1Y
37.4%
U11
S$36.76
United Overseas Bank
7D
-4.9%
1Y
-4.5%
T6I
S$1.21
ValueMax Group
7D
3.4%
1Y
144.4%
U10
S$3.08
UOB-Kay Hian Holdings
7D
-6.7%
1Y
65.6%
AIY
S$9.29
iFAST
7D
-1.6%
1Y
5.8%

AIY: Higher Future P/E Assumptions Will Support Sustained Bullish Conviction

Analysts now set their iFAST price target at SGD12.21, up from SGD11.75. This reflects updated views on slightly lower projected revenue growth and profit margins, a marginally reduced discount rate, and a higher assumed future P/E multiple.
S68
S$17.84
Singapore Exchange
7D
-1.5%
1Y
33.0%

S68: Rich P/E Will Persist Despite Slightly Higher Margin Assumptions

Analysts have adjusted their price target for Singapore Exchange from SGD14.70 to SGD14.84, citing updated assumptions for revenue growth, profit margins, and a slightly lower future P/E multiple as key drivers of the change. Valuation Changes Fair Value: Revised from SGD14.70 to SGD14.84, indicating a small uplift in the estimated intrinsic value per share.
S23
S$0.81
Singapura Finance
7D
2.5%
1Y
17.4%
P15
S$0.52
Pacific Century Regional Developments
7D
2.0%
1Y
33.3%
D05
S$57.16
DBS Group Holdings
7D
-0.8%
1Y
22.6%
T55
S$0.25
TIH
7D
6.4%
1Y
6.4%