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Singaporean (SGX) Market Analysis & Valuation

UpdatedJul 02, 2026
DataAggregated Company Financials
Companies500
  • 7D-1.0%
  • 3M2.1%
  • 1Y24.8%
  • YTD7.6%

The Information Technology sector gained 3.9% while the market remained flat over the last week. As for the longer term, the market has risen 25% in the past 12 months. Looking forward, earnings are forecast to grow by 7.0% annually.

Trending IndustriesOil and Gas

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 03 Jul 2026S$966.6bS$536.2bS$58.0b13.9x16.7x1.8x
Sun, 31 May 2026S$959.6bS$534.2bS$58.2b14.4x16.5x1.8x
Tue, 28 Apr 2026S$946.4bS$531.6bS$60.5b14.6x15.7x1.8x
Thu, 26 Mar 2026S$937.0bS$532.5bS$60.4b13.8x15.5x1.8x
Sat, 21 Feb 2026S$950.8bS$560.0bS$56.2b15.1x16.9x1.7x
Mon, 19 Jan 2026S$919.5bS$564.6bS$55.3b15.1x16.6x1.6x
Wed, 17 Dec 2025S$872.6bS$562.6bS$55.3b14.4x15.8x1.6x
Fri, 14 Nov 2025S$878.0bS$563.6bS$55.4b14.6x15.8x1.6x
Sun, 12 Oct 2025S$847.9bS$564.3bS$56.4b14.9x15x1.5x
Tue, 09 Sep 2025S$829.2bS$562.9bS$56.4b14.1x14.7x1.5x
Thu, 07 Aug 2025S$801.1bS$542.9bS$52.3b13.9x15.3x1.5x
Sat, 05 Jul 2025S$757.9bS$541.0bS$51.3b13x14.8x1.4x
Mon, 02 Jun 2025S$732.4bS$548.5bS$51.4b12.5x14.2x1.3x
Wed, 30 Apr 2025S$735.6bS$551.6bS$47.5b11.6x15.5x1.3x
Fri, 28 Mar 2025S$744.0bS$556.1bS$47.6b11.9x15.6x1.3x
Sun, 23 Feb 2025S$732.8bS$545.1bS$48.1b12x15.2x1.3x
Tue, 21 Jan 2025S$716.4bS$547.1bS$43.6b11.9x16.4x1.3x
Thu, 19 Dec 2024S$712.3bS$546.0bS$43.6b11.5x16.3x1.3x
Sat, 16 Nov 2024S$707.9bS$541.7bS$43.4b11.6x16.3x1.3x
Mon, 14 Oct 2024S$696.3bS$534.4bS$44.0b11.6x15.8x1.3x
Wed, 11 Sep 2024S$691.8bS$544.7bS$44.7b11.1x15.5x1.3x
Fri, 09 Aug 2024S$649.4bS$544.0bS$44.4b11x14.6x1.2x
Sun, 07 Jul 2024S$671.8bS$547.5bS$44.6b11.9x15.1x1.2x
Tue, 04 Jun 2024S$663.7bS$548.1bS$44.5b11.8x14.9x1.2x
Thu, 02 May 2024S$655.3bS$548.3bS$46.7b12.1x14x1.2x
Sat, 30 Mar 2024S$645.8bS$545.7bS$47.1b11.8x13.7x1.2x
Mon, 26 Feb 2024S$641.2bS$550.2bS$49.5b11.8x12.9x1.2x
Wed, 24 Jan 2024S$641.0bS$571.6bS$52.0b12.1x12.3x1.1x
Fri, 22 Dec 2023S$644.2bS$570.4bS$52.1b12.5x12.4x1.1x
Sun, 19 Nov 2023S$647.3bS$573.8bS$52.5b12.1x12.3x1.1x
Tue, 17 Oct 2023S$664.0bS$574.9bS$52.5b12.5x12.7x1.2x
Thu, 14 Sep 2023S$674.0bS$573.6bS$52.5b12.8x12.8x1.2x
Sat, 12 Aug 2023S$692.6bS$583.3bS$56.0b12.2x12.4x1.2x
Mon, 10 Jul 2023S$673.2bS$578.7bS$56.8b11.8x11.9x1.2x
Price to Earnings Ratio

11.9x


Total Market Cap: S$673.2bTotal Earnings: S$56.8bTotal Revenue: S$578.7bTotal 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 16.7x 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 2.5% 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 Market-1.00%
Tech3.94%
Energy2.41%
Telecom0.57%
Consumer Discretionary-0.56%
Financials-0.91%
Industrials-1.06%
Materials-1.35%
Real Estate-1.66%
Healthcare-2.21%
Consumer Staples-2.27%
Utilities-3.02%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 55.0x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 10.5% 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$66.430.5%
+S$1.0b		47.8%PB2.7xFinancials
S63 Singapore Technologies EngineeringS$10.843.0%
+S$998.3m		36.4%PE73.1xIndustrials
Z74 Singapore TelecommunicationsS$4.461.4%
+S$978.4m		15.5%PE13xTelecom
O39 Oversea-Chinese BankingS$25.080.6%
+S$629.7m		52.6%PB1.8xFinancials
U11 United Overseas BankS$40.070.4%
+S$264.2m		11.2%PB1.4xFinancials
See more

Market Insights

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Latest News

BN4
S$10.90
Keppel
7D
-2.9%
1Y
41.4%
S63
S$10.84
Singapore Technologies Engineering
7D
3.0%
1Y
36.4%
J36
US$61.31
Jardine Matheson Holdings
7D
-3.3%
1Y
22.4%
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.
C09
S$7.68
City Developments
7D
-3.3%
1Y
39.6%
Z74
S$4.46
Singapore Telecommunications
7D
1.4%
1Y
15.5%
C6L
S$7.70
Singapore Airlines
7D
0.8%
1Y
9.7%
9CI
S$2.48
CapitaLand Investment
7D
-2.4%
1Y
-8.5%
Narrative Update • Jun 26

9CI: New Insurance Mandate And Deal Pipeline Will Support Upside

CapitaLand Investment's analyst price target has been adjusted slightly lower to SGD3.41 from SGD3.49 as analysts factor in updated assumptions on revenue growth, profit margins, the discount rate and future P/E multiples. What’s in the News for CapitaLand Investment CapitaLand Investment secured an investment mandate to manage Income Insurance Limited’s direct real estate portfolio, which includes retail, commercial and industrial assets held directly and via joint ventures in Singapore.
D05
S$66.43
DBS Group Holdings
7D
0.5%
1Y
47.8%
Narrative Update • Jun 25

D05: Future Gold Tokens And Stable Dividends Will Support Platform Appeal

Analysts have raised their price target for DBS Group Holdings from SGD 60.55 to SGD 62.15, citing updated assumptions for fair value, discount rate, revenue growth, profit margin, and future P/E as the basis for this change. What's in the News DBS Group Holdings announced it will offer tokenised physical gold to retail customers through its digibank app from the second half of 2026, giving users a way to digitally access, hold, and trade tokenised physical gold on a single platform, source: recent news reports.
H78
US$7.12
Hongkong Land Holdings
7D
-2.2%
1Y
10.9%
Narrative Update • Jun 25

H78: Sustained Dividend Payout Will Support Future Share Re Rating

The latest Narrative Update on Hongkong Land Holdings keeps the analyst price target effectively unchanged at $10.03, with analysts pointing to only marginal tweaks in discount rate, revenue growth, profit margin, and forward P/E assumptions as the basis for this steady view. 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 key developments.
EB5
S$3.28
First Resources
7D
4.1%
1Y
118.7%
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$6.19
Sembcorp Industries
7D
-4.9%
1Y
-13.9%
O39
S$25.08
Oversea-Chinese Banking
7D
0.6%
1Y
52.6%
U11
S$40.07
United Overseas Bank
7D
0.4%
1Y
11.2%
A17U
S$2.48
CapitaLand Ascendas REIT
7D
-2.0%
1Y
-9.8%
D01
US$3.63
DFI Retail Group Holdings
7D
-4.0%
1Y
23.1%
Narrative Update • Jun 19

D01: Higher Final Dividend Guidance Will Support Future Share Re Rating

Analysts have slightly reduced their price target for DFI Retail Group Holdings to $5.70. This reflects updated assumptions for discount rates, modest revenue growth, profit margins and a marginally lower forward P/E multiple.
OV8
S$3.33
Sheng Siong Group
7D
2.8%
1Y
68.2%