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Singaporean (SGX) Financials Sector Analysis

UpdatedJan 08, 2026
DataAggregated Company Financials
Companies24
  • 7D2.8%
  • 3M7.9%
  • 1Y18.1%
  • YTD2.5%

Over the last 7 days, the Financials industry has risen 2.8%, driven by gains from DBS Group Holdings of 3.6%. This means that the industry has gained 18% over the past year. As for the next few years, earnings are expected to grow by 4.6% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 08 Jan 2026S$353.5bS$59.4bS$25.6b13.4x13.8x5.9x
Sat, 06 Dec 2025S$332.7bS$59.4bS$25.6b13x13x5.6x
Mon, 03 Nov 2025S$326.3bS$60.8bS$26.9b11.4x12.1x5.4x
Wed, 01 Oct 2025S$317.2bS$60.9bS$26.9b12.7x11.8x5.2x
Fri, 29 Aug 2025S$314.0bS$60.7bS$26.8b11x11.7x5.2x
Sun, 27 Jul 2025S$307.6bS$52.8bS$26.0b11.9x11.8x5.8x
Tue, 24 Jun 2025S$279.0bS$52.8bS$26.0b10.9x10.7x5.3x
Thu, 22 May 2025S$282.2bS$52.8bS$26.1b10.8x10.8x5.3x
Sat, 19 Apr 2025S$270.6bS$52.6bS$26.2b10.3x10.3x5.1x
Mon, 17 Mar 2025S$285.1bS$52.6bS$26.3b10.9x10.8x5.4x
Wed, 12 Feb 2025S$292.1bS$52.3bS$25.8b11.1x11.3x5.6x
Fri, 10 Jan 2025S$291.4bS$51.8bS$25.4b10.8x11.5x5.6x
Sun, 08 Dec 2024S$281.9bS$51.8bS$25.4b10.6x11.1x5.4x
Tue, 05 Nov 2024S$253.6bS$50.4bS$24.7b10.1x10.3x5x
Thu, 03 Oct 2024S$261.6bS$57.7bS$25.6b10.2x10.2x4.5x
Sat, 31 Aug 2024S$252.9bS$57.7bS$25.6b9.8x9.9x4.4x
Mon, 29 Jul 2024S$254.0bS$56.5bS$25.0b9.9x10.1x4.5x
Wed, 26 Jun 2024S$248.0bS$56.4bS$25.0b9.8x9.9x4.4x
Fri, 24 May 2024S$248.3bS$56.4bS$25.0b9.8x9.9x4.4x
Sun, 21 Apr 2024S$231.9bS$55.5bS$24.7b9.5x9.4x4.2x
Tue, 19 Mar 2024S$225.3bS$55.5bS$24.6b9x9.1x4.1x
Thu, 15 Feb 2024S$216.1bS$61.7bS$24.6b9.3x8.8x3.5x
Sat, 13 Jan 2024S$217.0bS$61.5bS$24.8b8.7x8.8x3.5x
Mon, 11 Dec 2023S$215.0bS$61.7bS$25.0b9.9x8.6x3.5x
Wed, 08 Nov 2023S$223.5bS$61.3bS$24.7b10x9.1x3.6x
Fri, 06 Oct 2023S$222.1bS$60.5bS$24.2b10.4x9.2x3.7x
Sun, 03 Sep 2023S$220.5bS$60.5bS$24.2b12.6x9.1x3.6x
Tue, 01 Aug 2023S$229.4bS$57.8bS$22.6b12.1x10.1x4x
Thu, 29 Jun 2023S$212.3bS$57.2bS$22.3b11.8x9.5x3.7x
Sat, 27 May 2023S$212.9bS$57.2bS$22.3b11.2x9.5x3.7x
Mon, 24 Apr 2023S$222.2bS$54.2bS$20.4b12.4x10.9x4.1x
Wed, 22 Mar 2023S$217.3bS$54.2bS$20.5b11.9x10.6x4x
Fri, 17 Feb 2023S$230.0bS$55.0bS$20.3b11.8x11.3x4.2x
Sun, 15 Jan 2023S$228.2bS$53.1bS$18.7b11.7x12.2x4.3x
Price to Earnings Ratio

12.2x


Total Market Cap: S$228.2bTotal Earnings: S$18.7bTotal Revenue: S$53.1bTotal 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 13.8x which is higher than its 3-year average PE of 10.5x.
  • The 3-year average PS ratio of 4.6x is lower than the industry's current PS ratio of 5.9x.
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 Market1.68%
Financials2.80%
Capital Markets3.11%
Banks2.84%
Insurance1.36%
Consumer Finance0.22%
Diversified Financial0.21%
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 4.4% 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$57.341.7%
+S$2.8b		27.4%PB2.4x
O39 Oversea-Chinese BankingS$20.172.1%
+S$1.8b		15.3%PB1.5x
U11 United Overseas BankS$36.012.7%
+S$1.6b		-4.2%PB1.2x
S68 Singapore ExchangeS$17.312.1%
+S$374.7m		38.8%PE28.6x
G07 Great Eastern HoldingsS$15.471.2%
+S$90.5m		n/aPE7.8x

Latest News

BLS
S$1.40
Hotung Investment Holdings
7D
-1.4%
1Y
6.1%
42T
S$0.078
Trendlines Group
7D
6.8%
1Y
52.9%
O39
S$20.17
Oversea-Chinese Banking
7D
2.1%
1Y
15.3%
S68
S$17.31
Singapore Exchange
7D
2.1%
1Y
38.8%
U10
S$2.56
UOB-Kay Hian Holdings
7D
-0.4%
1Y
52.4%

Fewer Investors Than Expected Jumping On UOB-Kay Hian Holdings Limited (SGX:U10)

Jan 05
Fewer Investors Than Expected Jumping On UOB-Kay Hian Holdings Limited (SGX:U10)
U11
S$36.01
United Overseas Bank
7D
2.7%
1Y
-4.2%

U11: Future Returns Will Depend On Asset Quality Execution And Neutral Risk Reward

Analysts have trimmed their 12 month price target for United Overseas Bank to S$38, citing more cautious assumptions on asset quality and a slightly higher implied P/E multiple. They believe this could cap upside relative to peers.
D05
S$57.34
DBS Group Holdings
7D
1.7%
1Y
27.4%

D05: Dividend Reliability And Malaysia Expansion With Fintech Alliances Will Shape Outlook

Analysts have modestly raised their price target on DBS Group Holdings, citing a slightly higher discount rate along with stable long term growth and profitability assumptions, which together support a fair value estimate of about SGD 56.17 per share. What's in the News DBS Group Holdings is actively pursuing a stake in Alliance Bank Malaysia Berhad via government-to-government discussions, with the deal reportedly tied to broader negotiations around the Johor Singapore Special Economic Zone.
CHJ
S$0.60
Uni-Asia Group
7D
-31.8%
1Y
-20.5%
AIY
S$9.61
iFAST
7D
0.9%
1Y
30.2%
YF8
S$0.39
Yangzijiang Financial Holding
7D
-3.8%
1Y
-6.1%
KUX
S$0.045
OIO Holdings
7D
-36.6%
1Y
-40.8%
G07
S$15.47
Great Eastern Holdings
7D
1.2%
1Y
n/a
T6I
S$0.98
ValueMax Group
7D
-1.0%
1Y
122.7%
T55
S$0.24
TIH
7D
-2.0%
1Y
11.6%
S23
S$0.74
Singapura Finance
7D
-1.3%
1Y
9.6%
S41
S$2.64
Hong Leong Finance
7D
0.8%
1Y
6.9%