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Singaporean (SGX) Financials Sector Analysis

UpdatedJan 03, 2026
DataAggregated Company Financials
Companies24
  • 7D0.2%
  • 3M6.3%
  • 1Y20.0%
  • YTD0%

In the last week, Financials has been flat. The past year has been better, since the industry has gained 19% in that time. Earnings are forecast to grow by 4.7% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 03 Jan 2026S$344.7bS$59.4bS$25.6b13.2x13.5x5.8x
Mon, 01 Dec 2025S$330.0bS$59.5bS$25.6b11.9x12.9x5.5x
Wed, 29 Oct 2025S$326.8bS$60.8bS$26.9b11.3x12.2x5.4x
Fri, 26 Sep 2025S$313.5bS$60.9bS$26.9b12.6x11.6x5.1x
Sun, 24 Aug 2025S$316.4bS$60.7bS$26.8b10.9x11.8x5.2x
Tue, 22 Jul 2025S$302.1bS$52.8bS$26.0b11.5x11.6x5.7x
Thu, 19 Jun 2025S$280.9bS$52.8bS$26.0b10.9x10.8x5.3x
Sat, 17 May 2025S$284.3bS$52.8bS$26.1b10.7x10.9x5.4x
Mon, 14 Apr 2025S$253.3bS$52.6bS$26.2b9.7x9.7x4.8x
Wed, 12 Mar 2025S$287.1bS$52.6bS$26.3b10.9x10.9x5.5x
Fri, 07 Feb 2025S$288.4bS$51.9bS$25.5b11.1x11.3x5.6x
Sun, 05 Jan 2025S$281.6bS$51.8bS$25.4b10.5x11.1x5.4x
Tue, 03 Dec 2024S$277.0bS$51.8bS$25.4b10.5x10.9x5.3x
Thu, 31 Oct 2024S$252.8bS$50.4bS$24.7b10x10.2x5x
Sat, 28 Sep 2024S$261.5bS$57.7bS$25.6b10.2x10.2x4.5x
Mon, 26 Aug 2024S$249.9bS$57.7bS$25.6b9.7x9.8x4.3x
Wed, 24 Jul 2024S$258.2bS$56.4bS$25.0b10.1x10.3x4.6x
Fri, 21 Jun 2024S$245.8bS$56.4bS$25.0b9.7x9.8x4.4x
Sun, 19 May 2024S$247.0bS$56.4bS$25.0b9.8x9.9x4.4x
Tue, 16 Apr 2024S$229.4bS$55.5bS$24.7b9.6x9.3x4.1x
Thu, 14 Mar 2024S$221.5bS$55.5bS$24.6b9x9x4x
Sat, 10 Feb 2024S$215.5bS$61.7bS$24.6b9.3x8.8x3.5x
Mon, 08 Jan 2024S$220.6bS$61.7bS$25.0b9.4x8.8x3.6x
Wed, 06 Dec 2023S$213.9bS$61.7bS$25.0b10x8.6x3.5x
Fri, 03 Nov 2023S$216.4bS$60.7bS$24.2b9.9x8.9x3.6x
Sun, 01 Oct 2023S$222.6bS$60.5bS$24.2b10.6x9.2x3.7x
Tue, 29 Aug 2023S$219.4bS$60.5bS$24.2b12.3x9.1x3.6x
Thu, 27 Jul 2023S$221.8bS$57.2bS$22.3b12.4x9.9x3.9x
Sat, 24 Jun 2023S$213.3bS$57.2bS$22.3b11.6x9.6x3.7x
Mon, 22 May 2023S$210.5bS$57.2bS$22.3b11.5x9.4x3.7x
Wed, 19 Apr 2023S$222.7bS$54.2bS$20.4b12.4x10.9x4.1x
Fri, 17 Mar 2023S$215.0bS$54.2bS$20.5b11.9x10.5x4x
Sun, 12 Feb 2023S$234.0bS$53.9bS$19.3b12.1x12.2x4.3x
Tue, 10 Jan 2023S$229.9bS$53.1bS$18.7b11.8x12.3x4.3x
Price to Earnings Ratio

12.3x


Total Market Cap: S$229.9bTotal Earnings: S$18.7bTotal Revenue: S$53.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Singaporean Financials Sector Price to Earnings3Y Average 10.4x202420252026
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 13.4x which is higher than its 3-year average PE of 10.4x.
  • The 3-year average PS ratio of 4.6x is lower than the industry's current PS ratio of 5.8x.
Past Earnings Growth
  • The earnings for companies in the Financials industry have grown 11% per year over the last three years.
  • Revenues for these companies have grown 3.8% 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 Market0.51%
Financials0.19%
Banks0.28%
Insurance0.25%
Capital Markets-0.64%
Consumer Finance-1.35%
Diversified Financial-2.17%
Industry PE
  • Investors are most optimistic about the Capital Markets industry which is trading above its 3-year average PE ratio of 17.6x.
    • Analysts expect its future annual earnings growth (7.9%) to be largely in line with prior year's earnings growth.
Forecasted Growth
  • Analysts are most optimistic on the Capital Markets industry, expecting annual earnings growth of 7.9% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Banks industry is expected to see its earnings grow by 4.5% 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
D05 DBS Group HoldingsS$56.400.3%
+S$482.4m		29.3%PB2.3x
U11 United Overseas BankS$35.250.3%
+S$198.3m		-3.6%PB1.2x
O39 Oversea-Chinese BankingS$19.850.2%
+S$179.6m		19.8%PB1.5x
G07 Great Eastern HoldingsS$15.320.3%
+S$20.1m		n/aPE7.7x
AIY iFASTS$9.520.5%
+S$15.2m		29.0%PE33.4x

Latest News

CHJ
S$0.65
Uni-Asia Group
7D
-24.0%
1Y
-15.0%
AIY
S$9.52
iFAST
7D
0.5%
1Y
29.0%
P15
S$0.44
Pacific Century Regional Developments
7D
-2.2%
1Y
31.3%
42T
S$0.074
Trendlines Group
7D
5.7%
1Y
48.0%
U11
S$35.25
United Overseas Bank
7D
0.3%
1Y
-3.6%
S68
S$17.05
Singapore Exchange
7D
-0.5%
1Y
36.7%

S68: Crypto Derivatives Launch And New Indices Will Support Earnings

Analysts have raised their price target on Singapore Exchange by approximately S$1.00, reflecting expectations of slightly lower discount rates, modestly softer revenue growth, improved profit margins, and a marginally cheaper forward earnings multiple. What's in the News SGX Derivatives will launch Bitcoin and Ethereum perpetual futures on 24 November 2025, offering institutional grade, regulated access to crypto perpetual contracts benchmarked to iEdge CoinDesk Crypto Indices (Key Developments).
D05
S$56.40
DBS Group Holdings
7D
0.3%
1Y
29.3%

D05: Dividend Resilience And Regional Digital Partnerships Will Shape Future Outlook

Analysts have slightly trimmed their price target on DBS Group Holdings, now expecting modestly softer discount rates and forward valuation multiples to cap upside to approximately SGD 56.17 per share, while still reflecting steady revenue growth and resilient profit margins. What's in the News DBS is persisting in its pursuit of a stake in Alliance Bank Malaysia, shifting to government-to-government talks as the deal becomes tied to broader negotiations over the Johor Singapore Special Economic Zone, with a roughly two year window seen as critical before Malaysia’s next general election (Key Developments).
O39
S$19.85
Oversea-Chinese Banking
7D
0.2%
1Y
19.8%

O39: Future Performance Will Reflect Stable Profitability And Measured Long Term Risk Balance

Narrative Update: Oversea-Chinese Banking Analyst Price Target Analysts have made only a marginal upward adjustment to their price target for Oversea-Chinese Banking, citing slightly lower discount rate assumptions and a modestly reduced forward price to earnings multiple as justification for the essentially unchanged fair value estimate of SGD 19.29. Valuation Changes Fair Value: Unchanged at approximately SGD 19.29 per share, reflecting a stable overall valuation view.
YF8
S$0.40
Yangzijiang Financial Holding
7D
-3.7%
1Y
-3.7%
U10
S$2.56
UOB-Kay Hian Holdings
7D
-1.2%
1Y
52.4%
TVV
S$0.054
OxPay Financial
7D
5.9%
1Y
80.0%
G07
S$15.32
Great Eastern Holdings
7D
0.3%
1Y
n/a
T6I
S$0.94
ValueMax Group
7D
-4.6%
1Y
116.1%
I49
S$0.18
IFS Capital
7D
-1.6%
1Y
68.9%
S23
S$0.74
Singapura Finance
7D
-1.3%
1Y
9.6%
S41
S$2.62
Hong Leong Finance
7D
0.8%
1Y
6.5%