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Singaporean (SGX) Industrials Sector Analysis

UpdatedSep 04, 2025
DataAggregated Company Financials
Companies146
  • 7D1.1%
  • 3M14.0%
  • 1Y36.1%
  • YTD23.7%

Over the last 7 days, the Industrials industry has risen 1.1%, driven by gains from Yangzijiang Shipbuilding (Holdings) of 4.4%. In the last 12 months, the industry was up 36%. 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
Thu, 04 Sep 2025S$142.3bS$158.5bS$9.5b12.2x14.9x0.9x
Sat, 02 Aug 2025S$138.4bS$155.8bS$9.2b11x15.1x0.9x
Mon, 30 Jun 2025S$126.1bS$155.2bS$8.6b9.8x14.6x0.8x
Wed, 28 May 2025S$123.1bS$156.1bS$8.5b9.5x14.4x0.8x
Fri, 25 Apr 2025S$117.9bS$157.2bS$7.7b9.5x15.4x0.7x
Sun, 23 Mar 2025S$119.6bS$157.8bS$7.7b9.6x15.5x0.8x
Tue, 18 Feb 2025S$116.6bS$153.7bS$6.2b10.6x18.7x0.8x
Thu, 16 Jan 2025S$114.2bS$154.1bS$6.1b10.3x18.8x0.7x
Sat, 14 Dec 2024S$114.4bS$153.7bS$6.0b10.4x18.9x0.7x
Mon, 11 Nov 2024S$115.9bS$153.5bS$6.0b10.7x19.4x0.8x
Wed, 09 Oct 2024S$114.6bS$152.0bS$6.5b10x17.7x0.8x
Fri, 06 Sep 2024S$109.5bS$152.8bS$6.5b10.4x16.8x0.7x
Sun, 04 Aug 2024S$106.5bS$151.6bS$6.0b10.3x17.7x0.7x
Tue, 02 Jul 2024S$109.0bS$153.8bS$6.7b10.7x16.2x0.7x
Thu, 30 May 2024S$109.4bS$153.6bS$6.8b10.5x16x0.7x
Sat, 27 Apr 2024S$109.7bS$153.2bS$6.6b10.6x16.6x0.7x
Mon, 25 Mar 2024S$108.2bS$152.8bS$6.7b10.1x16.2x0.7x
Wed, 21 Feb 2024S$115.0bS$149.8bS$7.1b10.7x16.2x0.8x
Fri, 19 Jan 2024S$112.8bS$151.9bS$7.1b10.2x15.8x0.7x
Sun, 17 Dec 2023S$111.5bS$151.7bS$7.1b10x15.6x0.7x
Tue, 14 Nov 2023S$109.2bS$150.6bS$7.1b10.4x15.3x0.7x
Thu, 12 Oct 2023S$121.7bS$150.0bS$6.6b11.1x18.5x0.8x
Sat, 09 Sep 2023S$127.0bS$150.0bS$6.6b10.3x19.3x0.8x
Mon, 07 Aug 2023S$129.0bS$148.9bS$6.7b10.4x19.3x0.9x
Wed, 05 Jul 2023S$128.3bS$145.6bS$6.5b10.7x19.7x0.9x
Fri, 02 Jun 2023S$121.6bS$145.7bS$6.5b10.6x18.6x0.8x
Sun, 30 Apr 2023S$126.5bS$140.5bS$5.2b10.8x24.4x0.9x
Tue, 28 Mar 2023S$120.5bS$140.6bS$5.2b10.3x23.1x0.9x
Thu, 23 Feb 2023S$122.2bS$136.6bS$7.7b9.5x15.8x0.9x
Sat, 21 Jan 2023S$123.5bS$138.4bS$8.1b9.4x15.3x0.9x
Mon, 19 Dec 2022S$120.4bS$138.0bS$7.6b8.9x15.9x0.9x
Wed, 16 Nov 2022S$119.8bS$138.2bS$7.6b9x15.8x0.9x
Fri, 14 Oct 2022S$114.6bS$133.8bS$6.0b8.4x19x0.9x
Sun, 11 Sep 2022S$124.5bS$133.1bS$6.1b9x20.6x0.9x
Price to Earnings Ratio

20.6x


Total Market Cap: S$124.5bTotal Earnings: S$6.1bTotal Revenue: S$133.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Singaporean Industrials Sector Price to Earnings3Y Average 17.4x202320242025
Current Industry PE
  • Investors are pessimistic on the Singaporean Industrials industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 14.9x which is lower than its 3-year average PE of 17.4x.
  • 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 16% per year over the last three years.
  • Revenues for these companies have grown 6.0% 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 Market1.06%
Industrials1.12%
Commercial Services3.75%
Machinery3.44%
Construction2.58%
Transportation2.36%
Trade Distributors2.23%
Aerospace & Defense1.42%
Professional Services0.93%
Infrastructure0.80%
Industrials0.32%
Marine and Shipping-0.068%
Airlines-0.15%
Electrical-0.55%
Building-1.41%
Logistics-1.80%
Industry PE
  • Investors are most optimistic about the Aerospace & Defense industry which is trading above its 3-year average PE ratio of 23.7x.
    • 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 Marine and Shipping industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 5.1x.
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
S63 Singapore Technologies EngineeringS$7.953.8%
+S$904.5m		79.9%PE32.3x
BS6 Yangzijiang Shipbuilding (Holdings)S$3.064.8%
+S$551.0m		17.2%PE8.6x
J36 Jardine Matheson HoldingsUS$60.551.7%
+US$297.5m		69.4%PE176.6x
5E2 SeatriumS$2.373.5%
+S$272.4m		51.0%PE30.3x
BN4 KeppelS$8.581.2%
+S$180.9m		40.7%PE17.1x

Latest News

L19
S$0.45
Lum Chang Holdings
7D
-5.3%
1Y
53.4%
ZKX
S$0.67
Ever Glory United Holdings
7D
-6.9%
1Y
123.3%
C52
S$1.47
ComfortDelGro
7D
1.4%
1Y
1.4%
A04
S$0.14
ASL Marine Holdings
7D
74.1%
1Y
143.1%

ASL Marine Holdings Ltd.'s (SGX:A04) Price Is Right But Growth Is Lacking After Shares Rocket 65%

Sep 01
ASL Marine Holdings Ltd.'s (SGX:A04) Price Is Right But Growth Is Lacking After Shares Rocket 65%
S63
S$7.95
Singapore Technologies Engineering
7D
3.8%
1Y
79.9%

Investments In MRO Capacities And International Expansion Will Strengthen Future Competitiveness

With the Future P/E and Discount Rate remaining effectively unchanged, analysts have made only a minimal downward revision to Singapore Technologies Engineering’s fair value, decreasing the consensus price target from SGD8.72 to SGD8.62. What's in the News ST Engineering secured approximately $4.7 billion in new contracts in Q2 2025 across Commercial Aerospace, Defence & Public Security, and Urban Solutions & Satcom segments.
S08
S$0.46
Singapore Post
7D
-1.1%
1Y
5.7%

The Returns On Capital At Singapore Post (SGX:S08) Don't Inspire Confidence

Aug 27
The Returns On Capital At Singapore Post (SGX:S08) Don't Inspire Confidence
S58
S$3.26
SATS
7D
-1.8%
1Y
-10.4%

Collaborations With SF Express, Air India, And DHL Will Boost Air Cargo Logistics Efficiency

The upward revision in SATS’s consensus price target primarily reflects improved revenue growth forecasts, with fair value rising from SGD3.71 to SGD3.82. What's in the News SATS approved a final ordinary tax-exempt dividend of 3.5 cents per share for FY ended 31 March 2025, payable on 15 August 2025.
C07
S$27.37
Jardine Cycle & Carriage
7D
-3.7%
1Y
1.4%
J36
US$60.55
Jardine Matheson Holdings
7D
1.7%
1Y
69.4%

Does Jardine Matheson Holdings (SGX:J36) Have A Healthy Balance Sheet?

Aug 25
Does Jardine Matheson Holdings (SGX:J36) Have A Healthy Balance Sheet?
H22
S$2.42
Hong Leong Asia
7D
-6.2%
1Y
204.4%

Market Participants Recognise Hong Leong Asia Ltd.'s (SGX:H22) Earnings Pushing Shares 32% Higher

Aug 20
Market Participants Recognise Hong Leong Asia Ltd.'s (SGX:H22) Earnings Pushing Shares 32% Higher
BS6
S$3.06
Yangzijiang Shipbuilding (Holdings)
7D
4.8%
1Y
17.2%
BN4
S$8.58
Keppel
7D
1.2%
1Y
40.7%
5E2
S$2.37
Seatrium
7D
3.5%
1Y
51.0%
5LY
S$0.068
Marco Polo Marine
7D
-5.6%
1Y
33.3%
F9D
S$1.61
Boustead Singapore
7D
8.8%
1Y
62.6%
C6L
S$6.57
Singapore Airlines
7D
-0.3%
1Y
4.3%