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Singaporean (SGX) Market Analysis & Valuation

UpdatedJul 11, 2026
DataAggregated Company Financials
Companies501
  • 7D3.0%
  • 3M5.3%
  • 1Y28.1%
  • YTD12.6%

The market has climbed 3.0% in the last 7 days, lead by the Financials sector with a gain of 6.8%. The market is up 28% over the last 12 months. Looking forward, earnings are forecast to grow by 7.1% annually.

Trending IndustriesOil and Gas

Market Valuation and Performance

Has the Singaporean Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 12 Jul 2026S$1.0tS$535.5bS$58.0b14.1x17.4x1.9x
Tue, 09 Jun 2026S$937.7bS$536.5bS$58.2b14x16.1x1.7x
Thu, 07 May 2026S$953.6bS$531.5bS$59.9b15x15.9x1.8x
Sat, 04 Apr 2026S$943.4bS$533.8bS$60.5b14x15.6x1.8x
Mon, 02 Mar 2026S$954.5bS$532.5bS$57.1b14.8x16.7x1.8x
Wed, 28 Jan 2026S$933.3bS$560.6bS$55.5b15.5x16.8x1.7x
Fri, 26 Dec 2025S$882.9bS$561.9bS$55.3b14.7x16x1.6x
Sun, 23 Nov 2025S$858.8bS$565.1bS$55.2b14.9x15.5x1.5x
Tue, 21 Oct 2025S$829.7bS$563.8bS$56.4b14.4x14.7x1.5x
Thu, 18 Sep 2025S$834.2bS$561.5bS$56.2b14.4x14.8x1.5x
Sat, 16 Aug 2025S$802.1bS$554.0bS$55.2b13.7x14.5x1.4x
Mon, 14 Jul 2025S$772.5bS$542.3bS$51.3b12.8x15.1x1.4x
Wed, 11 Jun 2025S$742.0bS$543.4bS$51.3b12.5x14.5x1.4x
Fri, 09 May 2025S$727.4bS$549.9bS$47.6b11.9x15.3x1.3x
Sun, 06 Apr 2025S$723.3bS$557.1bS$47.6b11.6x15.2x1.3x
Tue, 04 Mar 2025S$732.8bS$556.9bS$48.0b11.8x15.3x1.3x
Thu, 30 Jan 2025S$715.3bS$545.2bS$43.5b12x16.4x1.3x
Sat, 28 Dec 2024S$712.0bS$547.2bS$43.6b11.6x16.3x1.3x
Mon, 25 Nov 2024S$707.8bS$543.0bS$43.5b11.5x16.3x1.3x
Wed, 23 Oct 2024S$698.2bS$535.7bS$44.0b11.7x15.9x1.3x
Fri, 20 Sep 2024S$716.1bS$540.2bS$44.9b11.4x16x1.3x
Sun, 18 Aug 2024S$664.4bS$548.3bS$45.0b10.9x14.8x1.2x
Tue, 16 Jul 2024S$689.2bS$546.5bS$44.6b11.8x15.5x1.3x
Thu, 13 Jun 2024S$658.1bS$548.0bS$44.4b11.6x14.8x1.2x
Sat, 11 May 2024S$658.2bS$547.3bS$46.9b11.6x14x1.2x
Mon, 08 Apr 2024S$646.5bS$545.7bS$47.0b11.8x13.7x1.2x
Wed, 06 Mar 2024S$625.4bS$543.3bS$49.1b11.4x12.7x1.2x
Fri, 02 Feb 2024S$641.6bS$572.0bS$51.5b12.3x12.5x1.1x
Sun, 31 Dec 2023S$666.8bS$569.1bS$52.1b12.7x12.8x1.2x
Tue, 28 Nov 2023S$642.8bS$573.0bS$52.4b11.8x12.3x1.1x
Thu, 26 Oct 2023S$640.1bS$574.9bS$52.5b12.3x12.2x1.1x
Sat, 23 Sep 2023S$670.8bS$574.4bS$52.5b12.9x12.8x1.2x
Mon, 21 Aug 2023S$670.0bS$573.1bS$53.2b12.6x12.6x1.2x
Wed, 19 Jul 2023S$693.3bS$574.5bS$56.6b11.9x12.2x1.2x
Price to Earnings Ratio

12.2x


Total Market Cap: S$693.3bTotal Earnings: S$56.6bTotal Revenue: S$574.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Singaporean Market Price to Earnings3Y Average 14.8x202420252026
Current Market PE
  • Investors are optimistic on the Singaporean market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 17.4x which is higher than its 3-year average PE of 14.8x.
Past Earnings Growth
  • The earnings for Singaporean listed companies have remained mostly flat over the last three years.
  • Meanwhile revenues have declined 2.3% per year.
  • This means that the cost of doing business could be reducing since sales have declined yet profits have remained steady.

Sector Trends

Which sectors have driven the changes within the Singaporean Market?

SG Market3.04%
Financials6.77%
Healthcare1.43%
Consumer Staples1.11%
Industrials0.93%
Real Estate0.92%
Consumer Discretionary0.18%
Energy-1.03%
Telecom-1.51%
Materials-2.55%
Tech-2.82%
Utilities-4.00%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 55.6x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 10.4% which is higher than its past year's earnings decline of 3.3% per year.
  • The Utilities sector is the least preferred by investors for future growth, which is trading below its 3-year average of 9.6x.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 25% over the next 5 years.
  • This is better than its past earnings decline of 8.6% per year.
  • In contrast, the Telecom sector is expected to see its earnings decline by 11% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
D05 DBS Group HoldingsS$70.455.5%
+S$10.5b		53.2%PB2.9xFinancials
O39 Oversea-Chinese BankingS$27.438.4%
+S$9.5b		62.4%PB2xFinancials
U11 United Overseas BankS$44.3810.3%
+S$6.8b		20.4%PB1.5xFinancials
BN4 KeppelS$11.485.7%
+S$1.1b		48.3%PE19.5xIndustrials
G07 Great Eastern HoldingsS$17.186.0%
+S$927.7m		n/aPE13.7xFinancials
See more

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Latest News

G92
S$1.72
China Aviation Oil (Singapore)
7D
-8.0%
1Y
79.2%
D05
S$70.45
DBS Group Holdings
7D
5.5%
1Y
53.2%
Narrative Update • Jul 09

D05: Future Income Stability And Dividend Returns Will Support Fair Valuation

Analysts have raised their fair value estimate for DBS Group Holdings from SGD 70.00 to SGD 73.50, citing updated assumptions for revenue growth, profit margin, discount rate, and future P/E. What’s in the News for DBS Group Holdings DBS Group Holdings shareholders approved a one tier tax exempt final dividend of 66 cents per ordinary share for the year ended 31 December 2025 at the annual general meeting held on 31 March 2026.
BN4
S$11.48
Keppel
7D
5.7%
1Y
48.3%
Narrative Update • Jul 09

BN4: Subsea Capacity Deals Will Support Higher Future Earnings Power

The analyst fair value estimate for Keppel has been revised from SGD 13.17 to SGD 16.00 as analysts factor in updated assumptions for revenue growth, profit margins, and future P/E expectations. What's in the News Keppel, through its Connectivity Division, signed an Indefeasible Right of Use agreement with a global technology company for a fibre pair on the Bifrost subsea cable system, the fourth of its five fibre pairs.
O39
S$27.43
Oversea-Chinese Banking
7D
8.4%
1Y
62.4%
New Narrative • Jul 09

Fee Reliance And Rising Costs Will Challenge Long-Term Earnings Sustainability

Catalysts About Oversea-Chinese Banking Oversea-Chinese Banking operates a diversified banking, wealth management and insurance group across Singapore, ASEAN and selected international markets. What are the underlying business or industry changes driving this perspective?
U11
S$44.38
United Overseas Bank
7D
10.3%
1Y
20.4%
Narrative Update • Jul 08

U11: Future Returns Will Reflect AI Collaboration And Asset Management Divestment Potential

Analysts have revised their price target for United Overseas Bank to SGD 40.53 from SGD 39.07. This change reflects updated assumptions on fair value, discount rate, revenue growth, profit margin and future P/E multiples.
U10
S$4.37
UOB-Kay Hian Holdings
7D
12.6%
1Y
96.8%
AWX
S$9.55
AEM Holdings
7D
-6.4%
1Y
558.6%
F34
S$3.85
Wilmar International
7D
3.5%
1Y
30.5%
S63
S$10.96
Singapore Technologies Engineering
7D
1.0%
1Y
35.6%
J36
US$62.00
Jardine Matheson Holdings
7D
-1.1%
1Y
26.5%
Narrative Update • Jul 01

J36: Capital Recycling And Insider Buying Will Support Further Re Rating

Analysts have trimmed their fair value estimate for Jardine Matheson Holdings from $82.50 to $74.00, citing updated assumptions on discount rates, revenue growth, profit margins, and future P/E expectations. These reflect a more measured view, even as recent research highlights potential benefits from the new CEO's approach and ongoing capital recycling plans.
Z74
S$4.40
Singapore Telecommunications
7D
-1.6%
1Y
7.8%
S59
S$3.35
SIA Engineering
7D
-3.5%
1Y
3.4%
G07
S$17.18
Great Eastern Holdings
7D
6.0%
1Y
n/a
EB5
S$3.21
First Resources
7D
-5.6%
1Y
114.0%
Analysis Article • Jun 25

Should You Be Adding First Resources (SGX:EB5) To Your Watchlist Today?

It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story...
U96
S$5.68
Sembcorp Industries
7D
-5.0%
1Y
-23.2%
8YZ
S$0.56
Yangzijiang Maritime Development
7D
-5.8%
1Y
n/a