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Singaporean (SGX) Industrials Sector Analysis

UpdatedNov 06, 2025
DataAggregated Company Financials
Companies146
  • 7D-0.6%
  • 3M5.5%
  • 1Y34.1%
  • YTD31.0%

Over the last 7 days, the Industrials industry has remained flat, although notably Jardine Matheson Holdings gained 4.0%. The past year has been better, since the industry has gained 36% in that time. As for the next few years, earnings are expected to grow by 11% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 06 Nov 2025S$150.6bS$159.0bS$9.6b12.7x15.7x0.9x
Sat, 04 Oct 2025S$150.6bS$158.6bS$9.5b12.1x15.8x0.9x
Mon, 01 Sep 2025S$141.4bS$158.3bS$9.5b11.5x14.9x0.9x
Wed, 30 Jul 2025S$141.0bS$155.7bS$8.6b11.3x16.3x0.9x
Fri, 27 Jun 2025S$125.9bS$155.1bS$8.6b9.7x14.6x0.8x
Sun, 25 May 2025S$121.9bS$156.0bS$8.5b9.2x14.3x0.8x
Tue, 22 Apr 2025S$115.3bS$156.9bS$7.7b9.5x15.1x0.7x
Thu, 20 Mar 2025S$118.9bS$157.8bS$7.7b9.3x15.4x0.8x
Sat, 15 Feb 2025S$116.3bS$153.7bS$6.2b10x18.7x0.8x
Mon, 13 Jan 2025S$114.2bS$154.3bS$6.1b10.3x18.8x0.7x
Wed, 11 Dec 2024S$114.2bS$153.5bS$6.0b10.4x19x0.7x
Fri, 08 Nov 2024S$116.1bS$152.8bS$6.5b10.6x17.8x0.8x
Sun, 06 Oct 2024S$115.6bS$152.0bS$6.5b10x17.9x0.8x
Tue, 03 Sep 2024S$109.8bS$152.9bS$6.5b10.5x16.9x0.7x
Thu, 01 Aug 2024S$112.4bS$153.3bS$6.7b10.2x16.7x0.7x
Sat, 29 Jun 2024S$109.2bS$153.8bS$6.7b10.6x16.2x0.7x
Mon, 27 May 2024S$107.6bS$153.5bS$6.8b10.3x15.8x0.7x
Wed, 24 Apr 2024S$109.1bS$153.2bS$6.6b10.7x16.5x0.7x
Fri, 22 Mar 2024S$108.2bS$152.5bS$6.7b10.3x16.2x0.7x
Sun, 18 Feb 2024S$114.4bS$149.8bS$7.1b10.7x16.2x0.8x
Tue, 16 Jan 2024S$114.2bS$151.6bS$7.1b10.3x16x0.8x
Thu, 14 Dec 2023S$110.8bS$151.9bS$7.2b10.1x15.5x0.7x
Sat, 11 Nov 2023S$109.2bS$150.6bS$7.1b10.6x15.3x0.7x
Mon, 09 Oct 2023S$122.6bS$150.0bS$6.6b11.1x18.6x0.8x
Wed, 06 Sep 2023S$128.5bS$149.9bS$6.6b10.8x19.6x0.9x
Fri, 04 Aug 2023S$129.2bS$148.6bS$6.6b10.4x19.7x0.9x
Sun, 02 Jul 2023S$128.9bS$145.7bS$6.5b10.7x19.7x0.9x
Tue, 30 May 2023S$122.1bS$145.7bS$6.6b10x18.6x0.8x
Thu, 27 Apr 2023S$126.5bS$140.5bS$5.2b10.4x24.4x0.9x
Sat, 25 Mar 2023S$119.3bS$140.6bS$5.2b11x22.9x0.8x
Mon, 20 Feb 2023S$123.5bS$136.5bS$7.8b9.5x15.9x0.9x
Wed, 18 Jan 2023S$121.4bS$138.3bS$8.1b9.6x15x0.9x
Fri, 16 Dec 2022S$121.1bS$137.9bS$7.6b9.1x16x0.9x
Sun, 13 Nov 2022S$118.3bS$138.0bS$7.7b9.3x15.4x0.9x
Price to Earnings Ratio

15.4x


Total Market Cap: S$118.3bTotal Earnings: S$7.7bTotal Revenue: S$138.0bTotal 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 7.6% per year over the last three years.
  • Revenues for these companies have grown 4.8% 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 Market-0.71%
Industrials-0.59%
Industrials2.37%
Transportation-0.15%
Professional Services-0.15%
Infrastructure-0.78%
Electrical-1.11%
Trade Distributors-1.25%
Construction-1.28%
Logistics-1.28%
Building-1.56%
Commercial Services-1.96%
Aerospace & Defense-2.20%
Marine and Shipping-2.31%
Airlines-2.38%
Machinery-3.25%
Industry PE
  • Investors are most optimistic about the Aerospace & Defense industry which is trading above its 3-year average PE ratio of 24.5x.
    • 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
J36 Jardine Matheson HoldingsUS$62.434.0%
+US$707.2m		51.9%PE184.7x
BN4 KeppelS$10.092.0%
+S$359.3m		56.9%PE20.1x
A04 ASL Marine HoldingsS$0.2516.3%
+S$36.0m		354.5%PE17.6x
V5Q Soilbuild Construction GroupS$3.514.8%
+S$26.5m		368.0%PE12.2x
H20 Hoe LeongS$0.002100.0%
+S$15.1m		0%PS0.7x

Latest News

S59
S$3.54
SIA Engineering
7D
0.3%
1Y
44.5%
A04
S$0.25
ASL Marine Holdings
7D
16.3%
1Y
354.5%

Subdued Growth No Barrier To ASL Marine Holdings Ltd. (SGX:A04) With Shares Advancing 38%

Nov 03
Subdued Growth No Barrier To ASL Marine Holdings Ltd. (SGX:A04) With Shares Advancing 38%
H20
S$0.002
Hoe Leong
7D
100.0%
1Y
0%

Hoe Leong Corporation Ltd.'s (SGX:H20) 50% Dip Still Leaving Some Shareholders Feeling Restless Over Its P/SRatio

Nov 03
Hoe Leong Corporation Ltd.'s (SGX:H20) 50% Dip Still Leaving Some Shareholders Feeling Restless Over Its P/SRatio
J36
US$62.43
Jardine Matheson Holdings
7D
4.0%
1Y
51.9%
BN4
S$10.09
Keppel
7D
2.0%
1Y
56.9%

BN4: Profit Margins And Discount Rate Improvements Will Support Urban Decarbonization

Keppel's analyst price target has been revised upward from $10.15 to $10.61. This reflects analysts' increased confidence based on strengthening profit margins and a modest reduction in the discount rate, despite softer revenue growth expectations.
5F4
S$0.057
Figtree Holdings
7D
128.0%
1Y
67.6%
C6L
S$6.57
Singapore Airlines
7D
-2.4%
1Y
1.1%

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$2.15
Seatrium
7D
-1.4%
1Y
9.1%

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

Oct 28
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S58
S$3.42
SATS
7D
-0.9%
1Y
-14.7%

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

Oct 28
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E3B
S$0.71
Wee Hur Holdings
7D
-4.0%
1Y
66.3%

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
V5Q
S$3.51
Soilbuild Construction Group
7D
4.8%
1Y
368.0%

Soilbuild Construction Group Ltd. (SGX:V5Q) Stock Rockets 26% But Many Are Still Ignoring The Company

Oct 27
Soilbuild Construction Group Ltd. (SGX:V5Q) Stock Rockets 26% But Many Are Still Ignoring The Company
S63
S$8.37
Singapore Technologies Engineering
7D
-2.2%
1Y
80.0%

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

Oct 18
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NS8U
US$0.21
Hutchison Port Holdings Trust
7D
-2.3%
1Y
31.3%

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
BS6
S$3.33
Yangzijiang Shipbuilding (Holdings)
7D
-5.4%
1Y
30.6%

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

Sep 25
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ZKX
S$0.72
Ever Glory United Holdings
7D
4.3%
1Y
140.0%
A33
S$0.001
Southern Archipelago
7D
-50.0%
1Y
0%