Narrative Update • May 25
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Singaporean (SGX) Financials Sector Analysis
UpdatedMay 29, 2026
DataAggregated Company Financials
Companies23
- 7D-0.4%
- 3M7.1%
- 1Y31.9%
- YTD11.5%
The Financials industry has been flat over the last week, but Singapore Exchange has lost 4.2%. The past year has been better, since the industry has gained 32% in that time. Looking forward, earnings are forecast to grow by 6.2% annually.
Sector Valuation and Performance
Has the Singaporean Financials Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 30 May 2026 | S$390.9b | S$60.5b | S$25.2b | 15.5x | 15.5x | 6.5x |
| Mon, 27 Apr 2026 | S$367.9b | S$60.3b | S$25.1b | 15.7x | 14.6x | 6.1x |
| Wed, 25 Mar 2026 | S$361.7b | S$60.3b | S$25.2b | 14.8x | 14.3x | 6x |
| Fri, 20 Feb 2026 | S$362.7b | S$59.3b | S$25.4b | 14.9x | 14.3x | 6.1x |
| Sun, 18 Jan 2026 | S$358.7b | S$59.4b | S$25.6b | 13.6x | 14x | 6x |
| Tue, 16 Dec 2025 | S$338.3b | S$59.4b | S$25.6b | 13.1x | 13.2x | 5.7x |
| Thu, 13 Nov 2025 | S$334.5b | S$59.5b | S$25.6b | 12x | 13.1x | 5.6x |
| Sat, 11 Oct 2025 | S$327.4b | S$60.8b | S$26.8b | 12.1x | 12.2x | 5.4x |
| Mon, 08 Sep 2025 | S$317.2b | S$60.7b | S$26.8b | 12.4x | 11.8x | 5.2x |
| Wed, 06 Aug 2025 | S$303.9b | S$52.7b | S$25.9b | 11.6x | 11.7x | 5.8x |
| Fri, 04 Jul 2025 | S$288.8b | S$52.8b | S$26.0b | 11.2x | 11.1x | 5.5x |
| Sun, 01 Jun 2025 | S$284.0b | S$52.8b | S$26.0b | 10.8x | 10.9x | 5.4x |
| Tue, 29 Apr 2025 | S$274.2b | S$52.6b | S$26.2b | 10.7x | 10.5x | 5.2x |
| Thu, 27 Mar 2025 | S$296.3b | S$52.6b | S$26.2b | 11x | 11.3x | 5.6x |
| Sat, 22 Feb 2025 | S$299.8b | S$52.4b | S$26.1b | 11.6x | 11.5x | 5.7x |
| Mon, 20 Jan 2025 | S$285.1b | S$51.8b | S$25.4b | 10.7x | 11.2x | 5.5x |
| Wed, 18 Dec 2024 | S$285.0b | S$51.8b | S$25.4b | 10.6x | 11.2x | 5.5x |
| Fri, 15 Nov 2024 | S$277.4b | S$51.7b | S$25.4b | 10.7x | 10.9x | 5.4x |
| Sun, 13 Oct 2024 | S$251.9b | S$50.3b | S$24.7b | 10x | 10.2x | 5x |
| Tue, 10 Sep 2024 | S$258.6b | S$57.7b | S$25.6b | 10.1x | 10.1x | 4.5x |
| Thu, 08 Aug 2024 | S$239.3b | S$57.2b | S$25.4b | 9.2x | 9.4x | 4.2x |
| Sat, 06 Jul 2024 | S$258.6b | S$56.4b | S$25.0b | 10.3x | 10.3x | 4.6x |
| Mon, 03 Jun 2024 | S$249.5b | S$56.4b | S$25.0b | 9.9x | 10x | 4.4x |
| Wed, 01 May 2024 | S$240.9b | S$55.6b | S$24.7b | 9.9x | 9.8x | 4.3x |
| Fri, 29 Mar 2024 | S$229.1b | S$55.5b | S$24.6b | 9.3x | 9.3x | 4.1x |
| Sun, 25 Feb 2024 | S$221.6b | S$61.9b | S$24.8b | 8.8x | 8.9x | 3.6x |
| Tue, 23 Jan 2024 | S$214.4b | S$61.5b | S$24.8b | 8.7x | 8.7x | 3.5x |
| Thu, 21 Dec 2023 | S$213.5b | S$61.7b | S$25.0b | 9.2x | 8.6x | 3.5x |
| Sat, 18 Nov 2023 | S$218.9b | S$61.7b | S$25.0b | 9.9x | 8.8x | 3.5x |
| Mon, 16 Oct 2023 | S$223.4b | S$60.5b | S$24.2b | 10.4x | 9.2x | 3.7x |
| Wed, 13 Sep 2023 | S$220.1b | S$60.5b | S$24.2b | 10.6x | 9.1x | 3.6x |
| Fri, 11 Aug 2023 | S$227.4b | S$60.5b | S$24.1b | 12.4x | 9.4x | 3.8x |
| Sun, 09 Jul 2023 | S$208.9b | S$57.2b | S$22.3b | 13.7x | 9.4x | 3.7x |
| Tue, 06 Jun 2023 | S$211.6b | S$57.2b | S$22.3b | 11.2x | 9.5x | 3.7x |
Price to Earnings Ratio
9.5x
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 15.5x which is higher than its 3-year average PE of 10.9x.
- The 3-year average PS ratio of 4.8x is lower than the industry's current PS ratio of 6.5x.
Past Earnings Growth
- The earnings for companies in the Financials industry have grown 4.2% per year over the last three years, while revenues have remained mostly flat.
- This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.
Industry Trends
Which industries have driven the changes within the Singaporean Financials sector?
| SG Market | -1.38% | |
| Financials | -0.36% | |
| Diversified Financial | 1.35% | |
| Banks | -0.074% | |
| Insurance | -0.25% | |
| Consumer Finance | -1.05% | |
| Capital Markets | -3.48% | |
Industry PE
- Investors are most optimistic about the Capital Markets industry which is trading above its 3-year average PE ratio of 19.0x.
- Analysts are expecting annual earnings growth of 9.4%, which is higher than its past year's earnings growth of 6.8% per year.
- 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 9.5x.
Forecasted Growth
- Analysts are most optimistic on the Consumer Finance industry, expecting annual earnings growth of 14% over the next 5 years.
- However this is lower than its past earnings growth rate of 20% per year.
- In contrast, the Banks industry is expected to see its earnings grow by 5.9% 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 | |
|---|---|---|---|---|---|
| D05 DBS Group Holdings | S$62.84 | 1.2% +S$2.1b | 40.5% | PB2.6x | |
| AIY iFAST | S$9.14 | 4.2% +S$112.7m | 41.0% | PE25.5x | |
| U10 UOB-Kay Hian Holdings | S$3.94 | 0.5% +S$19.7m | 120.1% | PE16.2x | |
| 42T Trendlines Group | S$0.063 | 8.6% +S$7.3m | 110.0% | PE37.4x | |
| E9L Joyas International Holdings | S$0.003 | 50.0% +S$2.2m | 200.0% | PS11.6x |