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Singaporean (SGX) Market Analysis & Valuation

UpdatedJun 12, 2026
DataAggregated Company Financials
Companies500
  • 7D-1.4%
  • 3M1.3%
  • 1Y24.6%
  • YTD5.2%

Over the last 7 days, the market has dropped 3.1%, driven by losses in every sector, especially the Financials sector. As for the longer term, the market has actually risen by 24% in the last year. 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, 12 Jun 2026S$944.3bS$536.0bS$58.2b14x16.2x1.8x
Sun, 10 May 2026S$952.9bS$531.5bS$60.0b14.7x15.9x1.8x
Tue, 07 Apr 2026S$949.4bS$533.4bS$60.4b14.1x15.7x1.8x
Thu, 05 Mar 2026S$919.0bS$534.1bS$57.4b14x16x1.7x
Sat, 31 Jan 2026S$928.8bS$560.2bS$55.6b15.3x16.7x1.7x
Mon, 29 Dec 2025S$883.5bS$562.0bS$55.3b14.6x16x1.6x
Wed, 26 Nov 2025S$862.4bS$564.6bS$55.2b14.8x15.6x1.5x
Fri, 24 Oct 2025S$849.5bS$564.6bS$56.5b14.6x15x1.5x
Sun, 21 Sep 2025S$830.8bS$562.7bS$56.3b14.5x14.8x1.5x
Tue, 19 Aug 2025S$795.4bS$554.0bS$55.2b13.6x14.4x1.4x
Thu, 17 Jul 2025S$782.2bS$542.8bS$51.0b13.2x15.3x1.4x
Sat, 14 Jun 2025S$737.9bS$543.0bS$51.3b12.5x14.4x1.4x
Mon, 12 May 2025S$731.8bS$550.3bS$47.6b12x15.4x1.3x
Wed, 09 Apr 2025S$663.9bS$557.5bS$47.6b11x13.9x1.2x
Fri, 07 Mar 2025S$734.0bS$555.0bS$48.8b11.9x15.1x1.3x
Sun, 02 Feb 2025S$724.4bS$546.6bS$43.5b12x16.6x1.3x
Tue, 31 Dec 2024S$715.9bS$546.7bS$43.6b11.8x16.4x1.3x
Thu, 28 Nov 2024S$702.8bS$542.2bS$43.5b11.7x16.2x1.3x
Sat, 26 Oct 2024S$697.4bS$536.3bS$43.9b11.8x15.9x1.3x
Mon, 23 Sep 2024S$713.7bS$540.3bS$44.9b11.4x15.9x1.3x
Wed, 21 Aug 2024S$667.6bS$547.3bS$44.9b10.9x14.9x1.2x
Fri, 19 Jul 2024S$686.2bS$546.4bS$44.6b11.9x15.4x1.3x
Sun, 16 Jun 2024S$656.0bS$548.2bS$44.4b11.8x14.8x1.2x
Tue, 14 May 2024S$660.3bS$547.1bS$46.8b11.6x14.1x1.2x
Thu, 11 Apr 2024S$650.6bS$545.1bS$47.0b11.8x13.9x1.2x
Sat, 09 Mar 2024S$620.6bS$531.7bS$47.9b11.4x13x1.2x
Mon, 05 Feb 2024S$648.1bS$572.3bS$50.8b12.3x12.8x1.1x
Wed, 03 Jan 2024S$665.4bS$570.0bS$52.1b12.7x12.8x1.2x
Fri, 01 Dec 2023S$639.0bS$572.8bS$52.4b11.9x12.2x1.1x
Sun, 29 Oct 2023S$637.8bS$575.0bS$52.4b12.1x12.2x1.1x
Tue, 26 Sep 2023S$672.6bS$574.3bS$52.5b12.9x12.8x1.2x
Thu, 24 Aug 2023S$668.5bS$573.4bS$53.1b12.4x12.6x1.2x
Sat, 22 Jul 2023S$695.4bS$575.9bS$56.7b11.9x12.3x1.2x
Mon, 19 Jun 2023S$697.6bS$577.4bS$56.8b11.6x12.3x1.2x
Price to Earnings Ratio

12.3x


Total Market Cap: S$697.6bTotal Earnings: S$56.8bTotal Revenue: S$577.4bTotal 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 16.1x 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-1.42%
Consumer Staples1.29%
Energy-0.32%
Real Estate-0.45%
Healthcare-1.05%
Utilities-1.14%
Telecom-1.52%
Consumer Discretionary-1.82%
Financials-1.89%
Industrials-2.06%
Materials-2.64%
Tech-3.90%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 53.5x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 8.6% 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
C38U CapitaLand Integrated Commercial TrustS$2.332.6%
+S$477.1m		9.9%PB1.1xReal Estate
EB5 First ResourcesS$2.999.5%
+S$402.5m		107.6%PE10.1xConsumer Staples
S68 Singapore ExchangeS$22.251.7%
+S$395.8m		60.5%PE36.6xFinancials
F34 Wilmar InternationalS$3.551.7%
+S$374.6m		16.8%PE12.2xConsumer Staples
VC2 Olam GroupS$1.304.0%
+S$188.6m		41.3%PE35.6xConsumer Staples
See more

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D05
S$62.60
DBS Group Holdings
7D
-2.4%
1Y
40.1%
C38U
S$2.33
CapitaLand Integrated Commercial Trust
7D
2.6%
1Y
9.9%
H78
US$7.19
Hongkong Land Holdings
7D
-2.2%
1Y
29.8%
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.
U11
S$38.06
United Overseas Bank
7D
-0.7%
1Y
8.5%
VC2
S$1.30
Olam Group
7D
4.0%
1Y
41.3%
C6L
S$6.90
Singapore Airlines
7D
-2.1%
1Y
-1.8%
Narrative Update • Jun 05

C6L: Wide-Body Fleet Renewal And Passenger Strength Will Support Steady Future Returns

Analysts have adjusted their price target for Singapore Airlines to SGD6.59 from SGD6.66, citing updated assumptions on discount rates, revenue growth, profit margins and future P/E levels. What's in the News Singapore Airlines is reported to be in early talks to buy at least 50 new wide body passenger jets, including Boeing 777X aircraft and Airbus A350-1000 aircraft, in multi billion dollar negotiations, according to recent media reports citing “Boeing Stock Gains As Singapore Airlines, Qantas Reportedly Eye Major Wide-Body Jet Orders”.
S63
S$10.52
Singapore Technologies Engineering
7D
-4.5%
1Y
35.9%
O39
S$23.34
Oversea-Chinese Banking
7D
-2.8%
1Y
44.6%
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$3.55
Wilmar International
7D
1.7%
1Y
16.8%
S68
S$22.25
Singapore Exchange
7D
1.7%
1Y
60.5%
Narrative Update • Jun 03

S68: Regional Bond Futures And Solid Margins Will Support Steady Outlook

Analysts have raised their Singapore Exchange price target from SGD 22.00 to SGD 24.60, citing revised assumptions for revenue growth, profit margins, the discount rate and future P/E multiples. What's in the News SGX Derivatives plans to launch Asia Pacific Government Bond Futures, with trading scheduled to start on 20 April.
J36
US$61.80
Jardine Matheson Holdings
7D
-2.1%
1Y
38.4%
Narrative Update • Jun 03

J36: Capital Recycling And Rising Dividends Will Support Further Re Rating

Analysts have trimmed their fair value estimate for Jardine Matheson Holdings from $84.00 to $82.50, citing a slightly higher discount rate, more moderate revenue growth assumptions, and updated views on private business value and shareholder return plans reflected in recent research. What's in the News Jardine Matheson reaffirmed full year 2026 profit guidance, indicating expectations are broadly in line with 2025 after adjusting for business disposals, according to recent company guidance.
OV8
S$3.16
Sheng Siong Group
7D
3.9%
1Y
71.7%
Z74
S$4.25
Singapore Telecommunications
7D
-1.6%
1Y
6.5%
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...
EB5
S$2.99
First Resources
7D
9.5%
1Y
107.6%
P8Z
S$1.70
Bumitama Agri
7D
6.3%
1Y
122.2%
8C8U
S$1.10
Centurion Accommodation REIT
7D
3.8%
1Y
n/a