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Singaporean (SGX) Industrials Sector Analysis

UpdatedApr 22, 2026
DataAggregated Company Financials
Companies144
  • 7D0.5%
  • 3M8.2%
  • 1Y49.5%
  • YTD12.8%

Last week, the Industrials industry hasn't moved much but Yangzijiang Shipbuilding (Holdings) is up 5.3% in that time. As for the the longer term, the industry is up 49% over the past 12 months. As for the next few years, earnings are expected to grow by 9.3% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 22 Apr 2026S$178.0bS$158.3bS$10.8b14.3x16.5x1.1x
Fri, 20 Mar 2026S$175.3bS$158.7bS$10.8b13.7x16.3x1.1x
Sun, 15 Feb 2026S$171.5bS$157.9bS$9.4b14.2x18.2x1.1x
Tue, 13 Jan 2026S$163.4bS$159.2bS$9.4b13.8x17.4x1x
Thu, 11 Dec 2025S$153.5bS$159.3bS$9.3b13.6x16.5x1x
Sat, 08 Nov 2025S$150.9bS$158.9bS$9.6b12.3x15.8x0.9x
Mon, 06 Oct 2025S$150.6bS$158.6bS$9.5b12.5x15.8x0.9x
Wed, 03 Sep 2025S$141.6bS$158.5bS$9.5b11.8x14.9x0.9x
Fri, 01 Aug 2025S$138.7bS$156.2bS$8.5b11x16.2x0.9x
Sun, 29 Jun 2025S$126.1bS$155.2bS$8.6b9.8x14.6x0.8x
Tue, 27 May 2025S$122.1bS$156.0bS$8.5b9.2x14.3x0.8x
Thu, 24 Apr 2025S$116.3bS$157.1bS$7.7b9.5x15.2x0.7x
Sat, 22 Mar 2025S$119.6bS$157.8bS$7.7b9.6x15.5x0.8x
Mon, 17 Feb 2025S$116.3bS$153.7bS$6.2b10.6x18.6x0.8x
Wed, 15 Jan 2025S$114.3bS$154.2bS$6.1b10.3x18.8x0.7x
Fri, 13 Dec 2024S$114.4bS$153.6bS$6.0b10.4x19x0.7x
Sun, 10 Nov 2024S$115.9bS$153.5bS$6.0b10.7x19.4x0.8x
Tue, 08 Oct 2024S$116.0bS$152.1bS$6.5b10x17.9x0.8x
Thu, 05 Sep 2024S$108.7bS$152.9bS$6.5b10.1x16.7x0.7x
Sat, 03 Aug 2024S$106.5bS$150.5bS$5.7b10.3x18.6x0.7x
Mon, 01 Jul 2024S$109.2bS$153.8bS$6.7b10.6x16.2x0.7x
Wed, 29 May 2024S$109.1bS$153.6bS$6.8b10.2x16x0.7x
Fri, 26 Apr 2024S$109.7bS$153.2bS$6.6b10.8x16.6x0.7x
Sun, 24 Mar 2024S$108.2bS$152.8bS$6.7b10.1x16.2x0.7x
Tue, 20 Feb 2024S$113.9bS$149.9bS$7.1b10.5x16.1x0.8x
Thu, 18 Jan 2024S$113.0bS$151.9bS$7.1b10.2x15.8x0.7x
Sat, 16 Dec 2023S$111.5bS$151.5bS$7.1b10.2x15.6x0.7x
Mon, 13 Nov 2023S$109.2bS$150.6bS$7.2b10.4x15.3x0.7x
Wed, 11 Oct 2023S$122.2bS$150.1bS$6.6b11x18.6x0.8x
Fri, 08 Sep 2023S$127.6bS$150.0bS$6.6b10.4x19.4x0.9x
Sun, 06 Aug 2023S$129.0bS$149.0bS$6.7b10.4x19.3x0.9x
Tue, 04 Jul 2023S$129.2bS$145.7bS$6.5b10.7x19.8x0.9x
Thu, 01 Jun 2023S$121.1bS$145.8bS$6.5b10.9x18.5x0.8x
Sat, 29 Apr 2023S$126.5bS$140.6bS$5.2b10.8x24.4x0.9x
Price to Earnings Ratio

24.4x


Total Market Cap: S$126.5bTotal Earnings: S$5.2bTotal Revenue: S$140.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Singaporean Industrials Sector Price to Earnings3Y Average 17x202420252026
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 17.0x.
  • The 3-year average PS ratio of 0.83x is lower than the industry's current PS ratio of 1.1x.
Past Earnings Growth
  • The earnings for companies in the Industrials industry have grown 28% per year over the last three years.
  • Revenues for these companies have grown 4.0% 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 Market0.49%
Industrials0.54%
Construction10.17%
Logistics5.54%
Aerospace & Defense1.70%
Transportation1.65%
Machinery1.13%
Commercial Services1.01%
Marine and Shipping0.96%
Electrical0.93%
Trade Distributors-0.15%
Professional Services-0.48%
Building-0.49%
Industrials-0.57%
Airlines-1.06%
Infrastructure-2.26%
Industry PE
  • Investors are most optimistic about the Aerospace & Defense industry which is trading above its 3-year average PE ratio of 28.8x.
    • Analysts are expecting annual earnings growth of 21.6%, which is higher than its past year's earnings decline of 13.4% 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 3.6x.
Forecasted Growth
  • Analysts are most optimistic on the Electrical industry, expecting annual earnings growth of 32% over the next 5 years.
  • This is better than its past earnings decline of 26% per year.
  • In contrast, the Logistics industry is expected to see its earnings decline by 68% 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
BS6 Yangzijiang Shipbuilding (Holdings)S$4.215.3%
+S$826.5m		94.0%PE10.3x
BN4 KeppelS$12.030.8%
+S$163.2m		88.0%PE20.6x
5HV Koh Brothers Eco EngineeringS$0.1739.3%
+S$135.3m		314.6%PE70.6x
F9D Boustead SingaporeS$2.279.7%
+S$100.9m		116.2%PE12.2x
C52 ComfortDelGroS$1.522.7%
+S$86.7m		0%PE14.3x

Latest News

S63
S$11.25
Singapore Technologies Engineering
7D
-0.09%
1Y
58.9%
K75
S$0.56
Koh Brothers Group
7D
55.6%
1Y
300.0%
BN4
S$12.03
Keppel
7D
0.8%
1Y
88.0%
5HV
S$0.17
Koh Brothers Eco Engineering
7D
39.3%
1Y
314.6%
J36
US$73.48
Jardine Matheson Holdings
7D
0.3%
1Y
76.9%

J36: Dividend Visibility And Stable Earnings Guidance Will Support Measured Upside Ahead

Analysts have adjusted their view on Jardine Matheson Holdings, lifting the implied fair value estimate from about $80.40 to $84.00 as they recalibrate assumptions for revenue growth, profit margin, and future P/E levels. What's in the News Proposed final dividend of US$1.75 per share for 2025, payable on 13 May 2026, subject to approval at the AGM on 7 May 2026, with shareholders on the register by 20 March 2026 eligible and the shares quoted ex dividend on 19 March 2026 (Key Developments).
S59
S$3.23
SIA Engineering
7D
-2.1%
1Y
49.5%
BS6
S$4.21
Yangzijiang Shipbuilding (Holdings)
7D
5.3%
1Y
94.0%
8YZ
S$0.67
Yangzijiang Maritime Development
7D
-2.2%
1Y
n/a
C6L
S$6.47
Singapore Airlines
7D
-1.5%
1Y
-1.8%
P52
S$1.64
Pan-United
7D
-1.8%
1Y
156.3%
5E2
S$2.36
Seatrium
7D
-3.7%
1Y
21.6%

5E2: FSRU Expansion And Offshore Wind Deliveries Will Support Future Upside Potential

Analysts have inched up their Seatrium price target from SGD2.73 to SGD2.78, reflecting refreshed assumptions around discount rate, revenue growth, profit margin and future P/E, without a clear consensus shift in one single driver. What's in the News Seatrium secured a new contract from Karpowership to convert an LNG carrier into a Floating Storage Regasification Unit, described as Karpowership’s first high capacity FSRU with planned regasification of up to 600 million standard cubic feet per day, with work scheduled to start in the third quarter of 2026 (Client announcement).
S58
S$3.46
SATS
7D
-2.8%
1Y
24.5%
BTM
S$1.55
Penguin International
7D
-9.9%
1Y
61.5%
H22
S$3.40
Hong Leong Asia
7D
3.0%
1Y
211.9%

We Think Hong Leong Asia's (SGX:H22) Healthy Earnings Might Be Conservative

Apr 01
We Think Hong Leong Asia's (SGX:H22) Healthy Earnings Might Be Conservative
C52
S$1.52
ComfortDelGro
7D
2.7%
1Y
0%
F9D
S$2.27
Boustead Singapore
7D
9.7%
1Y
116.2%