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Singaporean (SGX) Industrials Sector Analysis

UpdatedDec 03, 2025
DataAggregated Company Financials
Companies145
  • 7D0.8%
  • 3M6.6%
  • 1Y33.3%
  • YTD31.3%

The Industrials is pretty flat in the last 7 days, but Jardine Matheson Holdings has stood out, gaining 3.1%. As for the the longer term, the industry is up 33% over the past 12 months. Earnings are forecast to grow by 13% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 03 Dec 2025S$154.4bS$159.5bS$9.3b13.4x16.6x1x
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
Price to Earnings Ratio

15.8x


Total Market Cap: S$119.9bTotal Earnings: S$7.6bTotal Revenue: S$137.9bTotal 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 5.0% 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 Market0.83%
Industrials0.76%
Construction2.02%
Marine and Shipping1.91%
Industrials1.68%
Machinery1.36%
Electrical1.04%
Airlines0.62%
Logistics0.19%
Transportation0.076%
Building-0.08%
Trade Distributors-0.35%
Professional Services-0.45%
Aerospace & Defense-0.71%
Infrastructure-1.26%
Commercial Services-2.42%
Industry PE
  • Investors are most optimistic about the Aerospace & Defense industry which is trading above its 3-year average PE ratio of 24.9x.
    • Analysts are expecting annual earnings growth of 15.7%, 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 2.9x.
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 73% 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$67.883.1%
+US$594.4m		50.8%PE200.7x
C07 Jardine Cycle & CarriageS$34.032.4%
+S$320.1m		15.9%PE12.5x
BS6 Yangzijiang Shipbuilding (Holdings)S$3.401.8%
+S$236.1m		31.8%PE9.4x
BN4 KeppelS$10.280.7%
+S$124.8m		50.5%PE20.5x
5LY Marco Polo MarineS$0.1420.2%
+S$86.4m		153.7%PE8.8x

Latest News

A33
S$0.001
Southern Archipelago
7D
-50.0%
1Y
0%

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Dec 03
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5LY
S$0.14
Marco Polo Marine
7D
20.2%
1Y
153.7%

Marco Polo Marine Ltd.'s (SGX:5LY) Price Is Right But Growth Is Lacking After Shares Rocket 33%

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S63
S$8.17
Singapore Technologies Engineering
7D
-1.6%
1Y
78.0%

Singapore Technologies Engineering (SGX:S63) Has A Pretty Healthy Balance Sheet

Dec 02
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C6L
S$6.45
Singapore Airlines
7D
-0.5%
1Y
1.9%
BN4
S$10.28
Keppel
7D
0.7%
1Y
50.5%

BN4: Updated Discount Rate And Margins Will Support Fair Valuation Outlook

Analysts have raised Keppel's fair value estimate from $10.61 to $10.99, citing updated forecasts and adjustments in their valuation model. Valuation Changes The Fair Value Estimate has increased slightly from SGD 10.61 to SGD 10.99.
8YZ
S$0.70
Yangzijiang Maritime Development
7D
2.2%
1Y
n/a
BS6
S$3.40
Yangzijiang Shipbuilding (Holdings)
7D
1.8%
1Y
31.8%

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J36
US$67.88
Jardine Matheson Holdings
7D
3.1%
1Y
50.8%

J36: Share Buyback and Reaffirmed Guidance Will Maintain a Measured Outlook

Analysts have raised their price target for Jardine Matheson Holdings from $70 to $72.10. This reflects slight improvements in revenue growth expectations as well as a marginally lower discount rate.
S59
S$3.56
SIA Engineering
7D
-1.9%
1Y
47.7%

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Nov 27
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1L2
S$0.025
Hiap Seng Industries
7D
-7.4%
1Y
525.0%

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Nov 24
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C07
S$34.03
Jardine Cycle & Carriage
7D
2.4%
1Y
15.9%

C07: Future Profit Margins May Struggle To Offset Weaker Revenue Assumptions

Analysts have raised their price target for Jardine Cycle & Carriage from $24.53 to $25.77. They cite a lower assumed discount rate and an improved profit margin outlook, even as revenue growth forecasts are expected to moderate.
H22
S$2.11
Hong Leong Asia
7D
-1.4%
1Y
157.3%

Hong Leong Asia Ltd. (SGX:H22) Shares Could Be 28% Below Their Intrinsic Value Estimate

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F9D
S$1.71
Boustead Singapore
7D
4.9%
1Y
64.4%
5E2
S$2.13
Seatrium
7D
0.5%
1Y
5.4%

Seatrium (SGX:5E2) Might Have The Makings Of A Multi-Bagger

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HQU
S$0.69
Oiltek International
7D
-2.8%
1Y
119.8%
E28
S$1.39
Frencken Group
7D
-2.1%
1Y
14.9%

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

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