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

Singaporean (SGX) Capital Markets Industry Analysis

UpdatedDec 24, 2025
DataAggregated Company Financials
Companies11
  • 7D1.8%
  • 3M-7.0%
  • 1Y35.5%
  • YTD34.9%

In the last week, the Capital Markets industry is up 1.8%, with Singapore Exchange up 2.4%. In the last 12 months, the industry was up 36%. Earnings are forecast to grow by 7.8% annually.

Industry Valuation and Performance

Has the Singaporean Capital Markets Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 24 Dec 2025S$25.6bS$2.8bS$1.3b18.5x20.2x9.1x
Fri, 21 Nov 2025S$25.4bS$2.9bS$1.3b11.3x19.9x8.7x
Sun, 19 Oct 2025S$26.8bS$2.9bS$1.3b10.8x21.2x9.4x
Tue, 16 Sep 2025S$27.8bS$2.8bS$1.2b12.2x22.3x10x
Thu, 14 Aug 2025S$26.2bS$2.9bS$1.3b15.9x20.7x9.1x
Sat, 12 Jul 2025S$24.3bS$2.8bS$1.3b14.4x19.4x8.7x
Mon, 09 Jun 2025S$22.0bS$2.8bS$1.2b13.6x17.6x7.9x
Wed, 07 May 2025S$21.7bS$2.8bS$1.3b13.7x17.4x7.7x
Fri, 04 Apr 2025S$20.9bS$2.8bS$1.2b14.6x16.8x7.5x
Sun, 02 Mar 2025S$21.0bS$2.8bS$1.3b7.5x16.6x7.5x
Tue, 28 Jan 2025S$18.8bS$2.6bS$1.0b9.1x18.5x7.2x
Thu, 26 Dec 2024S$18.8bS$2.6bS$1.0b8.3x18.5x7.2x
Sat, 23 Nov 2024S$19.0bS$2.5bS$1.0b9.6x18.8x7.5x
Mon, 21 Oct 2024S$18.1bS$2.5bS$998.6m9.9x18.1x7.2x
Wed, 18 Sep 2024S$16.9bS$2.5bS$998.8m8.3x16.9x6.8x
Fri, 16 Aug 2024S$15.8bS$2.5bS$955.7m8.1x16.5x6.4x
Sun, 14 Jul 2024S$15.5bS$2.5bS$997.7m9x15.5x6.3x
Tue, 11 Jun 2024S$15.1bS$2.5bS$997.8m9.1x15.1x6.1x
Thu, 09 May 2024S$14.6bS$2.5bS$995.6m9.6x14.7x5.9x
Sat, 06 Apr 2024S$14.6bS$2.4bS$979.3m9.2x14.9x5.9x
Mon, 04 Mar 2024S$14.9bS$2.5bS$979.8m9.5x15.2x6.1x
Wed, 31 Jan 2024S$15.4bS$2.4bS$948.1m13x16.3x6.5x
Fri, 29 Dec 2023S$19.4bS$2.6bS$1.1b16.3x17.1x7.4x
Sun, 26 Nov 2023S$19.3bS$2.6bS$1.1b17.2x16.9x7.4x
Tue, 24 Oct 2023S$18.5bS$2.6bS$1.1b16.9x16.2x7.1x
Thu, 21 Sep 2023S$19.4bS$2.6bS$1.1b17.8x17x7.4x
Sat, 19 Aug 2023S$18.8bS$2.6bS$1.1b17.4x16.5x7.2x
Mon, 17 Jul 2023S$18.6bS$2.5bS$1.0b15.5x18.4x7.5x
Wed, 14 Jun 2023S$18.3bS$2.5bS$1.0b11.9x18.2x7.4x
Fri, 12 May 2023S$18.1bS$2.5bS$1.0b15.2x18.1x7.3x
Sun, 09 Apr 2023S$19.0bS$2.4bS$1.0b15.4x18.4x7.8x
Tue, 07 Mar 2023S$18.4bS$2.5bS$1.0b15.1x17.7x7.5x
Thu, 02 Feb 2023S$18.7bS$2.4bS$1.1b15.4x17.1x7.6x
Sat, 31 Dec 2022S$18.5bS$2.5bS$1.1b14.4x16.7x7.5x
Price to Earnings Ratio

16.7x


Total Market Cap: S$18.5bTotal Earnings: S$1.1bTotal Revenue: S$2.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Singaporean Capital Markets Industry Price to Earnings3Y Average 17.5x202320242025
Current Industry PE
  • Investors are optimistic on the Singaporean Capital Markets industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 20.2x which is higher than its 3-year average PE of 17.5x.
  • The 3-year average PS ratio of 7.4x is lower than the industry's current PS ratio of 9.1x.
Past Earnings Growth
  • The earnings for companies in the Capital Markets industry have grown 4.5% per year over the last three years.
  • Revenues for these companies have grown 4.7% 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 industry?

SG Market1.18%
Financials1.59%
Capital Markets1.78%
Financial Exchanges and Data2.44%
Investment Banking and Brokerage0.78%
Asset Management-0.19%
Industry PE
  • Investors are most optimistic about the Financial Exchanges and Data industry which is trading above its 3-year average PE ratio of 20.9x.
    • Analysts are expecting annual earnings growth of 6.7%, which is lower than the prior year's growth of 8.4% per year.
  • Investors are most pessimistic about the Asset Management industry, which is trading below its 3-year average of 15.9x.
Forecasted Growth
  • Analysts are most optimistic on the Asset Management industry, expecting annual earnings growth of 12% over the next 5 years.
  • However this is lower than its past earnings growth rate of 43% per year.
  • In contrast, the Financial Exchanges and Data industry is expected to see its earnings grow by 6.7% 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
S68 Singapore ExchangeS$17.263.3%
+S$588.9m		38.1%PE28.5x
U10 UOB-Kay Hian HoldingsS$2.582.0%
+S$48.7m		55.4%PE12x
AIY iFASTS$9.501.4%
+S$39.5m		28.0%PE33.4x
BLS Hotung Investment HoldingsS$1.432.1%
+S$2.8m		10.9%PS15.6x
5SY OneApexS$0.2215.8%
+S$2.5m		n/aPS371.8x

Latest News

S68
S$17.26
Singapore Exchange
7D
3.3%
1Y
38.1%

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).
AIY
S$9.50
iFAST
7D
1.4%
1Y
28.0%

AIY: Upcoming Dividend Payout Will Support Earnings Confidence And Upside Momentum

Analysts have modestly raised their price target for iFAST to SGD 11.47, citing slightly higher assumed discount rates and forward price to earnings multiples while maintaining their positive view on the company’s robust revenue growth and profit margin outlook. What's in the News iFAST has announced a proposed tax exempt one tier third interim dividend of 2.30 cents per ordinary share for the financial year ending 31 December 2025.
5SY
S$0.22
OneApex
7D
15.8%
1Y
n/a
BLS
S$1.43
Hotung Investment Holdings
7D
2.1%
1Y
10.9%
YF8
S$0.41
Yangzijiang Financial Holding
7D
-2.4%
1Y
5.1%
U10
S$2.58
UOB-Kay Hian Holdings
7D
2.0%
1Y
55.4%
8A1
S$0.10
Heptamax International
7D
-1.9%
1Y
-18.5%
YYN
S$3.04
Plato Capital
7D
4.8%
1Y
52.8%