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Singaporean (SGX) Industrials Sector Analysis

UpdatedOct 31, 2025
DataAggregated Company Financials
Companies147
  • 7D1.0%
  • 3M9.0%
  • 1Y37.0%
  • YTD31.4%

Over the last 7 days, the Industrials industry has remained flat, although notably Keppel gained 5.3%. As for the the longer term, the industry is up 37% over the past 12 months. Looking forward, earnings are forecast to grow by 11% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 31 Oct 2025S$151.8bS$159.0bS$9.6b12.6x15.9x1x
Sun, 28 Sep 2025S$146.4bS$158.6bS$9.5b12x15.3x0.9x
Tue, 26 Aug 2025S$140.4bS$158.3bS$9.5b11.9x14.8x0.9x
Thu, 24 Jul 2025S$139.9bS$155.4bS$8.6b11x16.2x0.9x
Sat, 21 Jun 2025S$125.0bS$155.4bS$8.6b10.4x14.5x0.8x
Mon, 19 May 2025S$122.1bS$156.1bS$8.5b9.2x14.4x0.8x
Wed, 16 Apr 2025S$111.3bS$157.3bS$7.7b9.5x14.5x0.7x
Fri, 14 Mar 2025S$116.9bS$157.8bS$7.7b9.2x15.1x0.7x
Sun, 09 Feb 2025S$114.1bS$154.1bS$6.2b9.9x18.3x0.7x
Tue, 07 Jan 2025S$115.9bS$154.0bS$6.1b10.3x19.1x0.8x
Thu, 05 Dec 2024S$114.0bS$153.6bS$6.0b10.4x18.9x0.7x
Sat, 02 Nov 2024S$114.0bS$152.5bS$6.5b10.1x17.5x0.7x
Mon, 30 Sep 2024S$113.7bS$151.4bS$6.4b11x17.7x0.8x
Wed, 28 Aug 2024S$109.0bS$152.8bS$6.5b9.9x16.9x0.7x
Fri, 26 Jul 2024S$110.2bS$153.5bS$6.8b10.3x16.3x0.7x
Sun, 23 Jun 2024S$110.1bS$153.8bS$6.7b10.6x16.3x0.7x
Tue, 21 May 2024S$107.6bS$153.4bS$6.8b9.9x15.7x0.7x
Thu, 18 Apr 2024S$106.1bS$153.2bS$6.6b10.4x16x0.7x
Sat, 16 Mar 2024S$108.5bS$152.5bS$6.7b10x16.3x0.7x
Mon, 12 Feb 2024S$111.2bS$149.7bS$7.1b10x15.7x0.7x
Wed, 10 Jan 2024S$113.3bS$151.6bS$7.1b10.2x15.9x0.7x
Fri, 08 Dec 2023S$110.1bS$151.8bS$7.1b10.2x15.4x0.7x
Sun, 05 Nov 2023S$117.5bS$149.6bS$6.6b11.3x17.8x0.8x
Tue, 03 Oct 2023S$124.5bS$150.2bS$6.6b11.1x18.9x0.8x
Thu, 31 Aug 2023S$128.6bS$149.6bS$6.6b10.7x19.5x0.9x
Sat, 29 Jul 2023S$133.3bS$147.0bS$6.2b11x21.5x0.9x
Mon, 26 Jun 2023S$128.3bS$145.8bS$6.5b10.5x19.6x0.9x
Wed, 24 May 2023S$124.6bS$145.4bS$6.5b11.1x19x0.9x
Fri, 21 Apr 2023S$127.2bS$140.5bS$5.2b10.6x24.5x0.9x
Sun, 19 Mar 2023S$119.0bS$140.8bS$5.2b10.4x22.8x0.8x
Tue, 14 Feb 2023S$123.7bS$136.1bS$7.7b9.8x16x0.9x
Thu, 12 Jan 2023S$119.8bS$137.7bS$7.6b9.7x15.8x0.9x
Sat, 10 Dec 2022S$119.9bS$137.9bS$7.6b8.9x15.8x0.9x
Mon, 07 Nov 2022S$117.7bS$138.7bS$7.8b8.9x15.2x0.8x
Price to Earnings Ratio

15.2x


Total Market Cap: S$117.7bTotal Earnings: S$7.8bTotal Revenue: S$138.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Singaporean Industrials Sector Price to Earnings3Y Average 17.2x202320242025
Current Industry PE
  • Investors are relatively neutral on the Singaporean Industrials industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 17.2x.
  • The industry is trading close to its 3-year average PS ratio of 0.80x.
Past Earnings Growth
  • The earnings for companies in the Industrials industry have grown 7.2% 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 Industrials sector?

SG Market0.56%
Industrials0.99%
Marine and Shipping4.15%
Machinery3.82%
Electrical2.00%
Commercial Services2.00%
Building1.21%
Infrastructure0.92%
Airlines0.75%
Aerospace & Defense0.70%
Construction0.52%
Industrials0.23%
Professional Services-0.076%
Trade Distributors-0.93%
Transportation-1.31%
Logistics-1.49%
Industry PE
  • Investors are most optimistic about the Aerospace & Defense industry which is trading above its 3-year average PE ratio of 24.4x.
    • Analysts are expecting annual earnings growth of 12.6%, which is lower than the prior year's growth of 57.9% per year.
  • Investors are most pessimistic about the Logistics industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 3.3x.
Forecasted Growth
  • Analysts are most optimistic on the Electrical industry, expecting annual earnings growth of 39% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Logistics industry is expected to see its earnings decline by 79% 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
BN4 KeppelS$10.195.3%
+S$920.0m		59.2%PE20.3x
C07 Jardine Cycle & CarriageS$32.492.0%
+S$253.0m		16.5%PE11.8x
BS6 Yangzijiang Shipbuilding (Holdings)S$3.521.4%
+S$196.8m		39.1%PE9.8x
E28 Frencken GroupS$1.655.1%
+S$34.2m		42.2%PE18.1x
C6L Singapore AirlinesS$6.630.2%
+S$30.7m		3.0%PE7.3x

Latest News

H22
S$2.41
Hong Leong Asia
7D
-1.2%
1Y
175.4%

Hong Leong Asia (SGX:H22) Has A Pretty Healthy Balance Sheet

Oct 30
Hong Leong Asia (SGX:H22) Has A Pretty Healthy Balance Sheet
J36
US$58.75
Jardine Matheson Holdings
7D
-4.8%
1Y
51.1%

Share Buybacks And Improved Margins Will Support Robust Expansion Ahead

Analysts have raised their price target for Jardine Matheson Holdings from $66.43 to $70.00. They cite modest improvements in profit margin forecasts and slight upward adjustments in fair value estimates.
C6L
S$6.63
Singapore Airlines
7D
0.2%
1Y
3.0%

Passenger Growth And Margins Will Shape Future Capacity And Risk Assessment

Singapore Airlines' analyst price target has seen a slight adjustment downward, with the fair value estimate moving from $6.32 to $6.32 as analysts factor in a marginally higher revenue growth outlook, which is offset by a small decrease in profit margins and discount rates. What's in the News Singapore Airlines carried 3,384,400 passengers in September 2025, up from 3,132,600 a year earlier.
5E2
S$2.17
Seatrium
7D
-0.5%
1Y
14.2%

What Seatrium Limited's (SGX:5E2) P/S Is Not Telling You

Oct 28
What Seatrium Limited's (SGX:5E2) P/S Is Not Telling You
S58
S$3.42
SATS
7D
-1.4%
1Y
-13.9%

At S$3.48, Is It Time To Put SATS Ltd. (SGX:S58) On Your Watch List?

Oct 28
At S$3.48, Is It Time To Put SATS Ltd. (SGX:S58) On Your Watch List?
E3B
S$0.72
Wee Hur Holdings
7D
-3.3%
1Y
66.7%

There's Reason For Concern Over Wee Hur Holdings Ltd.'s (SGX:E3B) Price

Oct 28
There's Reason For Concern Over Wee Hur Holdings Ltd.'s (SGX:E3B) Price
BN4
S$10.19
Keppel
7D
5.3%
1Y
59.2%
S63
S$8.49
Singapore Technologies Engineering
7D
-1.0%
1Y
87.0%

Calculating The Fair Value Of Singapore Technologies Engineering Ltd (SGX:S63)

Oct 18
Calculating The Fair Value Of Singapore Technologies Engineering Ltd (SGX:S63)
C07
S$32.49
Jardine Cycle & Carriage
7D
2.0%
1Y
16.5%
A04
S$0.23
ASL Marine Holdings
7D
9.5%
1Y
296.6%
NS8U
US$0.21
Hutchison Port Holdings Trust
7D
-2.3%
1Y
34.6%

Hutchison Port Holdings Trust (SGX:NS8U) Has A Pretty Healthy Balance Sheet

Oct 09
Hutchison Port Holdings Trust (SGX:NS8U) Has A Pretty Healthy Balance Sheet
C52
S$1.46
ComfortDelGro
7D
-2.0%
1Y
-0.7%

Are Investors Undervaluing ComfortDelGro Corporation Limited (SGX:C52) By 28%?

Oct 08
Are Investors Undervaluing ComfortDelGro Corporation Limited (SGX:C52) By 28%?
E28
S$1.65
Frencken Group
7D
5.1%
1Y
42.2%

Frencken Group Limited (SGX:E28) Shares Could Be 34% Below Their Intrinsic Value Estimate

Oct 08
Frencken Group Limited (SGX:E28) Shares Could Be 34% Below Their Intrinsic Value Estimate
F9D
S$1.79
Boustead Singapore
7D
1.7%
1Y
72.1%
BS6
S$3.52
Yangzijiang Shipbuilding (Holdings)
7D
1.4%
1Y
39.1%

We Ran A Stock Scan For Earnings Growth And Yangzijiang Shipbuilding (Holdings) (SGX:BS6) Passed With Ease

Sep 25
We Ran A Stock Scan For Earnings Growth And Yangzijiang Shipbuilding (Holdings) (SGX:BS6) Passed With Ease
5LY
S$0.10
Marco Polo Marine
7D
8.2%
1Y
84.2%