Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Singaporean (SGX) Market Analysis & Valuation

UpdatedJun 19, 2026
DataAggregated Company Financials
Companies500
  • 7D3.6%
  • 3M3.1%
  • 1Y30.3%
  • YTD8.9%

The market is up 3.6% over the last week, with the Financials sector leading the way, up 5.9%. The market is up 30% over the last 12 months. As for the next few years, earnings are expected to grow by 7.1% per annum.

Trending IndustriesOil and Gas

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 20 Jun 2026S$978.6bS$536.2bS$58.0b14.1x16.9x1.8x
Mon, 18 May 2026S$960.1bS$534.3bS$59.1b14.4x16.2x1.8x
Wed, 15 Apr 2026S$960.9bS$531.8bS$60.4b14.7x15.9x1.8x
Fri, 13 Mar 2026S$929.6bS$532.3bS$60.4b14x15.4x1.7x
Sun, 08 Feb 2026S$933.0bS$560.7bS$56.1b14.9x16.6x1.7x
Tue, 06 Jan 2026S$891.0bS$562.4bS$55.3b14.9x16.1x1.6x
Thu, 04 Dec 2025S$871.7bS$563.2bS$55.3b15.1x15.8x1.5x
Sat, 01 Nov 2025S$852.9bS$564.9bS$56.6b14.8x15.1x1.5x
Mon, 29 Sep 2025S$822.8bS$563.5bS$56.4b14.4x14.6x1.5x
Wed, 27 Aug 2025S$815.8bS$562.4bS$56.3b13.8x14.5x1.5x
Fri, 25 Jul 2025S$811.0bS$541.9bS$50.9b13.7x15.9x1.5x
Sun, 22 Jun 2025S$732.6bS$542.6bS$51.3b12.5x14.3x1.4x
Tue, 20 May 2025S$731.6bS$549.3bS$48.6b12.2x15x1.3x
Thu, 17 Apr 2025S$697.7bS$552.2bS$47.5b11.4x14.7x1.3x
Sat, 15 Mar 2025S$723.6bS$555.9bS$47.7b11.6x15.2x1.3x
Mon, 10 Feb 2025S$723.7bS$546.3bS$44.4b11.8x16.3x1.3x
Wed, 08 Jan 2025S$721.0bS$547.1bS$43.6b11.5x16.5x1.3x
Fri, 06 Dec 2024S$721.9bS$544.4bS$43.5b11.9x16.6x1.3x
Sun, 03 Nov 2024S$689.8bS$537.1bS$43.8b11.6x15.7x1.3x
Tue, 01 Oct 2024S$712.5bS$539.1bS$44.9b11.4x15.9x1.3x
Thu, 29 Aug 2024S$673.1bS$545.4bS$44.9b11.1x15x1.2x
Sat, 27 Jul 2024S$678.3bS$546.9bS$44.7b11.9x15.2x1.2x
Mon, 24 Jun 2024S$658.3bS$548.5bS$44.4b11.8x14.8x1.2x
Wed, 22 May 2024S$657.3bS$546.6bS$46.9b11.7x14x1.2x
Fri, 19 Apr 2024S$638.8bS$547.7bS$46.8b11.9x13.7x1.2x
Sun, 17 Mar 2024S$636.2bS$544.2bS$47.1b11.4x13.5x1.2x
Tue, 13 Feb 2024S$633.9bS$554.2bS$49.7b11.9x12.7x1.1x
Thu, 11 Jan 2024S$656.1bS$570.6bS$52.1b12.6x12.6x1.1x
Sat, 09 Dec 2023S$643.4bS$571.8bS$52.3b12.1x12.3x1.1x
Mon, 06 Nov 2023S$654.9bS$572.8bS$51.6b12.2x12.7x1.1x
Wed, 04 Oct 2023S$670.8bS$575.2bS$52.5b12.7x12.8x1.2x
Fri, 01 Sep 2023S$679.2bS$572.2bS$52.4b13.4x13x1.2x
Sun, 30 Jul 2023S$709.2bS$580.2bS$56.1b12x12.6x1.2x
Tue, 27 Jun 2023S$681.7bS$579.8bS$56.8b11.6x12x1.2x
Price to Earnings Ratio

12x


Total Market Cap: S$681.7bTotal Earnings: S$56.8bTotal Revenue: S$579.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Singaporean Market Price to Earnings3Y Average 14.7x202420252026
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 16.9x which is higher than its 3-year average PE of 14.7x.
Past Earnings Growth
  • The earnings for Singaporean listed companies have remained mostly flat over the last three years.
  • Meanwhile revenues have declined 2.6% 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 Market3.56%
Financials5.91%
Tech5.40%
Materials4.20%
Industrials3.86%
Utilities3.31%
Healthcare2.11%
Telecom1.78%
Consumer Discretionary1.14%
Consumer Staples1.11%
Energy0.12%
Real Estate-0.00017%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 54.0x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 8.9% 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 close to its 3-year average of 9.7x.
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 15% 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$65.964.3%
+S$7.7b		50.3%PB2.7xFinancials
O39 Oversea-Chinese BankingS$24.634.8%
+S$5.1b		54.9%PB1.8xFinancials
U11 United Overseas BankS$39.252.9%
+S$1.8b		12.5%PB1.3xFinancials
S68 Singapore ExchangeS$23.946.0%
+S$1.5b		74.2%PE39.4xFinancials
Z74 Singapore TelecommunicationsS$4.351.9%
+S$1.3b		12.7%PE12.7xTelecom
See more

Market Insights

Header cover image
Every trend sets off ripples. The further out you think, the less crowded it gets.
Continue reading
The gravity of the SpaceX IPO

Latest News

A17U
S$2.51
CapitaLand Ascendas REIT
7D
-0.8%
1Y
-3.5%
NS8U
US$0.19
Hutchison Port Holdings Trust
7D
-4.1%
1Y
16.0%
Narrative Update • Jun 18

NS8U: Upcoming Distribution Will Support Attractive Payout And Undervaluation Thesis

Analysts have made a small upward revision to their price target for Hutchison Port Holdings Trust, citing updated fair value inputs, a slightly lower discount rate of 8.10% and refreshed assumptions for revenue growth, profit margin and a forward P/E of around 20.84x. What’s in the News for Hutchison Port Holdings Trust No recent company specific news items for Hutchison Port Holdings Trust were identified in the provided sources.
S68
S$23.94
Singapore Exchange
7D
6.0%
1Y
74.2%
Narrative Update • Jun 17

S68: New Regional Bond Futures Will Leave Shares Looking Overvalued

Analysts have lifted their price target for Singapore Exchange from SGD 20.30 to about SGD 21.33, citing updated assumptions around slightly higher revenue growth, profit margins, and a modest adjustment to the discount rate and future P/E expectations. What’s in the News for Singapore Exchange SGX Derivatives plans to launch Asia Pacific Government Bond Futures, with trading scheduled to start on 20 April.
BN4
S$11.27
Keppel
7D
5.8%
1Y
52.1%
Analysis Article • Jun 16

Keppel (SGX:BN4) Stock Could Be 9% Undervalued After Its S$325,000,000 Perpetual Securities Sale

How Keppel’s new perpetual securities frame the latest stock move Keppel (SGX:BN4) recently priced S$325,000,000 of fixed rate subordinated perpetual securities, an event that gives investors fresh context for assessing the stock after recent trading swings and changing earnings expectations. The Series 018 perpetuals offer a 3.30% annual distribution from June 11, 2026 to June 11, 2029, with subsequent resets tied to the prevailing 3 year SORA OIS plus an initial spread of 1.62% and a 1.00%...
U11
S$39.25
United Overseas Bank
7D
2.9%
1Y
12.5%
Narrative Update • Jun 16

U11: Future Returns Will Reflect AI Partnership And Asset Management Sale Talks

Analysts have nudged their SGD price target for United Overseas Bank higher from SGD 38.65 to SGD 39.07, citing updated assumptions that include slightly adjusted discount rates, revenue growth, profit margins and future P/E expectations. What's in the News Allianz Global Investors has entered exclusive talks to acquire United Overseas Bank’s asset management business, with discussions ongoing and no certainty that a final agreement will be reached, according to Bloomberg.
C07
S$27.42
Jardine Cycle & Carriage
7D
-4.2%
1Y
12.1%
Narrative Update • Jun 13

C07: Group Capital Reallocation And Leadership Transition Will Support Future Earnings Multiple

Analysts have modestly lifted their price target for Jardine Cycle & Carriage to SGD33.85 from SGD33.60, reflecting updated assumptions on discount rates, revenue growth, profit margins and future P/E levels. What's in the News Parent group Jardine Matheson is shifting from a traditional owner operator model toward a return focused investment company, with active capital recycling and potential asset sales across properties, fast food and car dealerships, according to recent coverage, source: Jardines has survived wars and market collapses.
BS6
S$3.69
Yangzijiang Shipbuilding (Holdings)
7D
7.0%
1Y
64.0%
D05
S$65.96
DBS Group Holdings
7D
4.3%
1Y
50.3%
H78
US$7.06
Hongkong Land Holdings
7D
-3.7%
1Y
28.6%
Narrative Update • Jun 10

H78: Lower Discount Rate And Firm Dividend Policy Will Support Long-Term Upside

Analysts have nudged their price target for Hongkong Land Holdings up from $10.90 to $11.20, citing refreshed assumptions around discount rates, revenue growth, profit margins and future P/E that feed into their updated valuation work. What's in the News Hongkong Land Holdings has proposed a 2025 final dividend of US cents 19.00 per share, with a GBP equivalent of 14.0605 pence, according to company disclosures.
D01
US$3.68
DFI Retail Group Holdings
7D
-2.1%
1Y
39.9%
Narrative Update • Jun 04

D01: Higher Final Dividend Will Support Future Share Re Rating

Analysts have kept their $5.70 price target for DFI Retail Group Holdings unchanged, citing only very small adjustments to the discount rate, revenue growth, profit margin and future P/E assumptions in their latest models. What's in the News DFI Retail Group Holdings recommended a 2025 final dividend of US$0.105 per share, with payment guided for 13 May 2026, subject to approval at the annual general meeting scheduled for 7 May 2026.
O39
S$24.63
Oversea-Chinese Banking
7D
4.8%
1Y
54.9%
Narrative Update • Jun 04

O39: Future Performance Will Reflect Stable Margins And Dividend Support At Fair Valuation

Analysts have raised their price target for Oversea-Chinese Banking to SGD22.94 from SGD20.76, citing updated assumptions that incorporate the latest revenue growth outlook, profit margin estimates and future P/E expectations. What's in the News Oversea-Chinese Banking Corporation Limited proposed a special one-tier tax exempt dividend of $0.16 per ordinary share for the financial year ended 31 December 2025, to be tabled at its AGM on 16 April 2026.
F34
S$3.73
Wilmar International
7D
4.5%
1Y
27.7%
AJBU
S$2.25
Keppel DC REIT
7D
-1.7%
1Y
-2.6%
Z74
S$4.35
Singapore Telecommunications
7D
1.9%
1Y
12.7%
Analysis Article • May 28

Concerns Surrounding Singapore Telecommunications' (SGX:Z74) Performance

Singapore Telecommunications Limited's ( SGX:Z74 ) stock didn't jump after it announced some healthy earnings. We think...
T82U
S$1.42
Suntec Real Estate Investment Trust
7D
-2.1%
1Y
26.8%
8C8U
S$1.03
Centurion Accommodation REIT
7D
-6.4%
1Y
n/a