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Singaporean (SGX) Market Analysis & Valuation

UpdatedFeb 27, 2026
DataAggregated Company Financials
Companies506
  • 7D-0.7%
  • 3M9.2%
  • 1Y28.1%
  • YTD6.6%

In the last week, the market has been flat, with a notable exception in the Consumer Discretionary sector dropping 3.7%. More promisingly, the market is up 28% over the past year. Earnings are forecast to grow by 7.5% annually.

Trending IndustriesOil and Gas

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 27 Feb 2026S$948.8bS$562.5bS$56.7b14.7x16.7x1.7x
Sun, 25 Jan 2026S$924.2bS$561.6bS$55.5b15.1x16.7x1.6x
Tue, 23 Dec 2025S$878.9bS$562.9bS$55.3b14.6x15.9x1.6x
Thu, 20 Nov 2025S$866.4bS$564.6bS$55.2b14.8x15.7x1.5x
Sat, 18 Oct 2025S$829.6bS$563.8bS$56.4b14.4x14.7x1.5x
Mon, 15 Sep 2025S$836.8bS$562.4bS$56.3b14.4x14.9x1.5x
Wed, 13 Aug 2025S$799.0bS$542.9bS$52.3b13.7x15.3x1.5x
Fri, 11 Jul 2025S$769.8bS$541.6bS$51.3b13x15x1.4x
Sun, 08 Jun 2025S$740.9bS$543.2bS$51.3b12.6x14.4x1.4x
Tue, 06 May 2025S$728.5bS$548.5bS$47.6b11.7x15.3x1.3x
Thu, 03 Apr 2025S$743.0bS$556.8bS$47.6b11.7x15.6x1.3x
Sat, 01 Mar 2025S$729.8bS$557.6bS$49.0b11.7x14.9x1.3x
Mon, 27 Jan 2025S$716.4bS$544.8bS$43.2b12.1x16.6x1.3x
Wed, 25 Dec 2024S$710.4bS$547.3bS$43.6b11.7x16.3x1.3x
Fri, 22 Nov 2024S$707.1bS$542.5bS$43.4b11.5x16.3x1.3x
Sun, 20 Oct 2024S$705.8bS$535.1bS$44.0b11.8x16x1.3x
Tue, 17 Sep 2024S$704.1bS$540.7bS$44.9b11.2x15.7x1.3x
Thu, 15 Aug 2024S$653.9bS$542.6bS$44.8b10.7x14.6x1.2x
Sat, 13 Jul 2024S$688.7bS$546.7bS$44.6b11.8x15.5x1.3x
Mon, 10 Jun 2024S$662.0bS$548.0bS$44.4b11.7x14.9x1.2x
Wed, 08 May 2024S$648.9bS$547.2bS$46.9b11.7x13.8x1.2x
Fri, 05 Apr 2024S$648.8bS$545.4bS$47.0b11.8x13.8x1.2x
Sun, 03 Mar 2024S$631.2bS$543.0bS$49.3b11.4x12.8x1.2x
Tue, 30 Jan 2024S$642.2bS$571.8bS$51.8b12.3x12.4x1.1x
Thu, 28 Dec 2023S$654.4bS$569.4bS$52.1b12.5x12.6x1.1x
Sat, 25 Nov 2023S$643.9bS$573.5bS$52.4b12x12.3x1.1x
Mon, 23 Oct 2023S$640.9bS$575.2bS$52.5b12.1x12.2x1.1x
Wed, 20 Sep 2023S$677.6bS$574.0bS$52.5b12.8x12.9x1.2x
Fri, 18 Aug 2023S$674.8bS$574.1bS$53.2b12.6x12.7x1.2x
Sun, 16 Jul 2023S$692.7bS$574.5bS$56.6b12x12.2x1.2x
Tue, 13 Jun 2023S$682.4bS$578.3bS$56.8b11.3x12x1.2x
Thu, 11 May 2023S$697.3bS$571.7bS$55.3b11.5x12.6x1.2x
Sat, 08 Apr 2023S$709.4bS$567.0bS$54.4b11.6x13x1.3x
Mon, 06 Mar 2023S$695.5bS$570.4bS$54.4b11x12.8x1.2x
Price to Earnings Ratio

12.8x


Total Market Cap: S$695.5bTotal Earnings: S$54.4bTotal Revenue: S$570.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Singaporean Market Price to Earnings3Y Average 14.3x202420252026
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 14.3x.
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 Market-0.70%
Tech1.75%
Industrials1.36%
Materials0.93%
Telecom0.33%
Energy0.28%
Real Estate-0.58%
Financials-1.61%
Consumer Staples-1.91%
Healthcare-2.36%
Utilities-3.22%
Consumer Discretionary-3.69%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading close to its 3-year average PE ratio of 44.3x.
    • Analysts are expecting annual earnings growth of 9.8%, which is lower than the prior year's growth of 11.3% per year.
  • The Utilities sector is the least preferred by investors for future growth, which is trading close to its 3-year average of 10.0x.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 45% over the next 5 years.
  • This is better than its past earnings decline of 0.8% per year.
  • In contrast, the Telecom sector is expected to see its earnings decline by 16% 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
G07 Great Eastern HoldingsS$16.192.7%
+S$7.4b		n/aPE12.7xFinancials
BS6 Yangzijiang Shipbuilding (Holdings)S$3.927.7%
+S$1.1b		60.7%PE9.7xIndustrials
J36 Jardine Matheson HoldingsUS$80.502.9%
+US$673.9m		98.2%PE236.9xIndustrials
C38U CapitaLand Integrated Commercial TrustS$2.503.3%
+S$608.9m		26.9%PB1.2xReal Estate
C6L Singapore AirlinesS$7.132.1%
+S$471.9m		4.9%PE9.9xIndustrials
See more

Market Insights

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5E2
S$2.28
Seatrium
7D
5.6%
1Y
4.6%
BS6
S$3.92
Yangzijiang Shipbuilding (Holdings)
7D
7.7%
1Y
60.7%
G13
S$0.72
Genting Singapore
7D
-10.0%
1Y
-2.7%
O39
S$21.34
Oversea-Chinese Banking
7D
-1.2%
1Y
22.9%
C6L
S$7.13
Singapore Airlines
7D
2.1%
1Y
4.9%
G07
S$16.19
Great Eastern Holdings
7D
2.7%
1Y
n/a
U96
S$6.07
Sembcorp Industries
7D
-4.3%
1Y
0.7%

U96: India Renewables Acquisitions In 2026 Will Support Future Returns

Analysts have nudged their price target for Sembcorp Industries slightly lower from SGD7.10 to SGD7.07, citing updated assumptions for more moderate revenue growth, a small adjustment to profit margins, and a modestly higher future P/E multiple. What's in the News Sembcorp is reported to be among potential bidders, alongside global private equity firms and infrastructure investors, for a controlling stake in Welspun New Energy at a valuation around US$250 million, with EY advising on the sale and binding bids said to be expected soon (Key Developments).
S63
S$10.02
Singapore Technologies Engineering
7D
-2.0%
1Y
90.9%

S63: Contract Wins And Digital Aerospace Partnership Will Support Steady Returns

Analysts have kept their price target on Singapore Technologies Engineering steady at SGD 9.60, with minimal tweaks to the discount rate, revenue growth, profit margin and future P/E assumptions. These changes reflect only minor model refinements rather than a change in conviction.
U11
S$36.76
United Overseas Bank
7D
-4.9%
1Y
-4.5%
C07
S$35.42
Jardine Cycle & Carriage
7D
3.0%
1Y
32.6%

C07: Leadership Handover Will Likely Cap Future Earnings Multiple

Analysts have kept their SGD fair value estimate for Jardine Cycle & Carriage broadly unchanged at about SGD29.11, with only slight model tweaks such as a marginally lower discount rate and a small adjustment to future P/E assumptions helping to explain the stable price target. What's in the News Jardine Cycle & Carriage announced that Group Managing Director Mr. Benjamin Birks will step down from his role at the end of the Annual General Meeting on April 30, 2026, after more than six years in the position (company announcement).
J36
US$80.50
Jardine Matheson Holdings
7D
2.9%
1Y
98.2%

J36: Higher Margin Outlook Will Support Stronger Capital Returns And Earnings Profile

Analysts have raised their price target for Jardine Matheson Holdings from about $83.60 to around $94.20. They cite updated assumptions on discount rate, revenue growth, profit margins and future P/E, which they view as better reflecting the company’s current risk and earnings profile.
C38U
S$2.50
CapitaLand Integrated Commercial Trust
7D
3.3%
1Y
26.9%

C38U: Future Returns Will Reflect Joint Development Risk Sharing And Yield Considerations

Analysts have nudged their price target for CapitaLand Integrated Commercial Trust slightly higher from SGD 2.54 to about SGD 2.60, citing updated assumptions that include a different discount rate, more conservative revenue growth, a higher profit margin, and an adjusted future P/E estimate. What's in the News CICT, through Horizon Commercial Trust, entered a Joint Development Deed with Horizon Residential Pte.
Y92
S$0.46
Thai Beverage
7D
-4.2%
1Y
-12.5%

Y92: Higher Future P/E And Capital Alignment Will Support Upside Potential

Analysts have lowered their price target on Thai Beverage from SGD0.75 to SGD0.62, citing more conservative assumptions for revenue growth and profit margins. This is partly offset by a higher expected future P/E multiple.
9CI
S$3.06
CapitaLand Investment
7D
-2.9%
1Y
16.8%

9CI: Expanded Asia Platforms And New Distribution Will Support Future Upside

Analysts have nudged their price target for CapitaLand Investment slightly higher to SGD3.49 from SGD3.44, citing updated assumptions around revenue growth, profit margins and future P/E multiples. What's in the News CapitaLand Investment incorporated a wide set of new wholly owned subsidiaries across Singapore, India, China, the United Arab Emirates and Korea, covering investment holding, fund management, business park management, hotel operations and treasury services as part of its ongoing business development (company announcement).
Z74
S$5.00
Singapore Telecommunications
7D
0.4%
1Y
49.7%
D05
S$57.16
DBS Group Holdings
7D
-0.8%
1Y
22.6%