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Singaporean (SGX) Market Analysis & Valuation

UpdatedNov 24, 2025
DataAggregated Company Financials
Companies504
  • 7D1.1%
  • 3M5.3%
  • 1Y21.6%
  • YTD20.0%

Over the last 7 days, the market has risen 1.1%, driven by gains of 1.2% in the Financials sector. In the last year, the market has climbed 22%. Looking forward, earnings are forecast to grow by 7.4% annually.

Trending IndustriesOil and Gas

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 01 Dec 2025S$858.8bS$565.1bS$55.2b14.9x15.5x1.5x
Wed, 29 Oct 2025S$857.7bS$564.2bS$56.5b14.6x15.2x1.5x
Fri, 26 Sep 2025S$826.4bS$563.2bS$56.4b14.5x14.7x1.5x
Sun, 24 Aug 2025S$814.3bS$561.8bS$56.3b13.8x14.5x1.4x
Tue, 22 Jul 2025S$796.9bS$542.6bS$51.0b13.3x15.6x1.5x
Thu, 19 Jun 2025S$739.9bS$543.1bS$51.3b12.5x14.4x1.4x
Sat, 17 May 2025S$735.3bS$551.0bS$48.5b12.3x15.2x1.3x
Mon, 14 Apr 2025S$672.6bS$552.9bS$47.5b11.3x14.2x1.2x
Wed, 12 Mar 2025S$719.9bS$555.4bS$47.7b11.6x15.1x1.3x
Fri, 07 Feb 2025S$719.6bS$546.0bS$43.7b11.8x16.5x1.3x
Sun, 05 Jan 2025S$718.2bS$548.6bS$43.7b11.6x16.4x1.3x
Tue, 03 Dec 2024S$710.8bS$544.9bS$43.5b11.7x16.3x1.3x
Thu, 31 Oct 2024S$690.4bS$536.8bS$43.8b11.5x15.7x1.3x
Sat, 28 Sep 2024S$710.0bS$539.4bS$44.9b11.4x15.8x1.3x
Mon, 26 Aug 2024S$671.7bS$546.3bS$44.9b11x15x1.2x
Wed, 24 Jul 2024S$683.7bS$547.0bS$44.6b11.9x15.3x1.2x
Fri, 21 Jun 2024S$656.7bS$548.1bS$44.4b11.8x14.8x1.2x
Sun, 19 May 2024S$658.6bS$546.5bS$46.9b11.6x14x1.2x
Tue, 16 Apr 2024S$640.0bS$547.6bS$46.8b11.9x13.7x1.2x
Thu, 14 Mar 2024S$635.0bS$543.5bS$47.1b11.6x13.5x1.2x
Sat, 10 Feb 2024S$633.7bS$554.4bS$49.8b11.8x12.7x1.1x
Mon, 08 Jan 2024S$656.9bS$570.6bS$52.2b12.5x12.6x1.2x
Wed, 06 Dec 2023S$636.6bS$571.9bS$52.3b12x12.2x1.1x
Fri, 03 Nov 2023S$643.9bS$574.4bS$52.3b12.2x12.3x1.1x
Sun, 01 Oct 2023S$672.0bS$574.4bS$52.5b12.8x12.8x1.2x
Tue, 29 Aug 2023S$675.1bS$573.0bS$52.7b13.2x12.8x1.2x
Thu, 27 Jul 2023S$699.8bS$575.5bS$56.6b12.1x12.4x1.2x
Sat, 24 Jun 2023S$682.3bS$579.9bS$56.8b11.5x12x1.2x
Mon, 22 May 2023S$691.7bS$579.2bS$56.6b11.4x12.2x1.2x
Wed, 19 Apr 2023S$710.0bS$569.3bS$54.0b11.6x13.2x1.2x
Fri, 17 Mar 2023S$681.4bS$571.8bS$54.2b11.1x12.6x1.2x
Sun, 12 Feb 2023S$718.6bS$558.7bS$57.5b10.6x12.5x1.3x
Tue, 10 Jan 2023S$705.5bS$559.8bS$57.7b10.2x12.2x1.3x
Thu, 08 Dec 2022S$692.8bS$562.5bS$57.8b10.5x12x1.2x
Price to Earnings Ratio

12x


Total Market Cap: S$692.8bTotal Earnings: S$57.8bTotal Revenue: S$562.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Singaporean Market Price to Earnings3Y Average 14x202320242025
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 15.5x which is higher than its 3-year average PE of 14.0x.
Past Earnings Growth
  • Both revenue and earnings for Singaporean listed companies have remained mostly flat over the last three years.
  • This means sales and the cost of doing business have remained relatively consistent over this period and subsequently, so have profits.

Sector Trends

Which sectors have driven the changes within the Singaporean Market?

SG Market1.06%
Utilities2.49%
Energy1.88%
Industrials1.67%
Consumer Discretionary1.23%
Financials1.19%
Tech1.13%
Real Estate1.12%
Materials1.12%
Healthcare0.92%
Telecom-0.11%
Consumer Staples-0.18%
Sector PE
  • Investors favour the Consumer Discretionary sector the most for future growth, which is trading above its 3-year average PE ratio of 22.6x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 9.5% which is higher than its past year's earnings decline of 2.4% per year.
  • The Utilities sector is the least preferred by investors for future growth, which is trading below its 3-year average of 10.1x.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 49% over the next 5 years.
  • This is better than its past earnings growth rate of 4.5% per year.
  • In contrast, the Telecom sector is expected to see its earnings decline by 14% 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
O39 Oversea-Chinese BankingS$18.703.4%
+S$2.8b		15.4%PB1.4xFinancials
D05 DBS Group HoldingsS$54.041.2%
+S$1.9b		27.0%PB2.2xFinancials
U11 United Overseas BankS$34.160.8%
+S$446.3m		-6.2%PB1.2xFinancials
5E2 SeatriumS$2.164.3%
+S$304.8m		10.8%PE27.6xIndustrials
C07 Jardine Cycle & CarriageS$33.712.2%
+S$284.6m		17.4%PE12.3xIndustrials
See more

Market Insights

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In this piece, we’ll cover the key defensive sectors across the US, Canada, the UK, Europe, and Australia, compare their valuations to the broader market, and highlight where “safety” might actually be expensive risk in disguise.
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