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Singaporean (SGX) Market Analysis & Valuation

UpdatedDec 18, 2025
DataAggregated Company Financials
Companies504
  • 7D1.1%
  • 3M4.5%
  • 1Y21.8%
  • YTD20.8%

The market has climbed 1.1% in the last 7 days, lead by the Financials sector with a gain of 1.8%. The market is up 22% over the last 12 months. Looking forward, earnings are forecast to grow by 7.6% annually.

Trending IndustriesOil and Gas

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 18 Dec 2025S$872.8bS$563.1bS$55.3b14.5x15.8x1.6x
Sat, 15 Nov 2025S$870.5bS$564.4bS$55.2b14.4x15.8x1.5x
Mon, 13 Oct 2025S$847.9bS$564.2bS$56.4b14.9x15x1.5x
Wed, 10 Sep 2025S$826.8bS$562.4bS$56.3b14.3x14.7x1.5x
Fri, 08 Aug 2025S$806.2bS$542.6bS$52.4b14x15.4x1.5x
Sun, 06 Jul 2025S$757.9bS$541.1bS$51.3b13x14.8x1.4x
Tue, 03 Jun 2025S$731.8bS$548.8bS$51.4b12.4x14.2x1.3x
Thu, 01 May 2025S$725.7bS$551.0bS$47.5b11.6x15.3x1.3x
Sat, 29 Mar 2025S$746.0bS$556.6bS$47.6b11.8x15.7x1.3x
Mon, 24 Feb 2025S$732.8bS$547.5bS$47.6b12x15.4x1.3x
Wed, 22 Jan 2025S$715.0bS$546.7bS$43.6b11.9x16.4x1.3x
Fri, 20 Dec 2024S$708.7bS$547.0bS$43.6b11.5x16.3x1.3x
Sun, 17 Nov 2024S$707.9bS$541.9bS$43.6b11.6x16.2x1.3x
Tue, 15 Oct 2024S$696.3bS$534.4bS$44.0b11.6x15.8x1.3x
Thu, 12 Sep 2024S$694.9bS$541.3bS$44.9b11.1x15.5x1.3x
Sat, 10 Aug 2024S$649.4bS$543.6bS$44.3b11x14.6x1.2x
Mon, 08 Jul 2024S$671.8bS$547.5bS$44.6b11.9x15.1x1.2x
Wed, 05 Jun 2024S$662.7bS$547.6bS$44.5b11.8x14.9x1.2x
Fri, 03 May 2024S$655.1bS$547.4bS$47.1b11.8x13.9x1.2x
Sun, 31 Mar 2024S$645.8bS$545.7bS$47.1b11.8x13.7x1.2x
Tue, 27 Feb 2024S$637.9bS$550.2bS$49.5b11.9x12.9x1.2x
Thu, 25 Jan 2024S$644.9bS$571.4bS$51.9b12.2x12.4x1.1x
Sat, 23 Dec 2023S$648.8bS$569.6bS$52.1b12.6x12.4x1.1x
Mon, 20 Nov 2023S$647.3bS$573.8bS$52.5b12.1x12.3x1.1x
Wed, 18 Oct 2023S$663.9bS$574.9bS$52.5b12.5x12.6x1.2x
Fri, 15 Sep 2023S$678.7bS$573.5bS$52.4b12.8x12.9x1.2x
Sun, 13 Aug 2023S$692.6bS$574.3bS$54.5b12.6x12.7x1.2x
Tue, 11 Jul 2023S$674.5bS$578.9bS$56.8b11.6x11.9x1.2x
Thu, 08 Jun 2023S$678.4bS$579.0bS$56.8b11.3x11.9x1.2x
Sat, 06 May 2023S$702.1bS$570.6bS$54.8b11.6x12.8x1.2x
Mon, 03 Apr 2023S$700.9bS$569.1bS$54.1b11.6x13x1.2x
Wed, 01 Mar 2023S$695.7bS$571.0bS$58.6b11x11.9x1.2x
Fri, 27 Jan 2023S$724.0bS$557.4bS$58.0b10.7x12.5x1.3x
Sun, 25 Dec 2022S$697.1bS$562.1bS$57.8b10.4x12.1x1.2x
Price to Earnings Ratio

12.1x


Total Market Cap: S$697.1bTotal Earnings: S$57.8bTotal Revenue: S$562.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Singaporean Market Price to Earnings3Y Average 14.1x202320242025
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 15.8x which is higher than its 3-year average PE of 14.1x.
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 Market1.08%
Financials1.84%
Real Estate1.70%
Materials1.38%
Utilities1.32%
Healthcare0.74%
Industrials0.57%
Tech0.048%
Consumer Staples-0.10%
Energy-0.57%
Consumer Discretionary-0.58%
Telecom-0.67%
Sector PE
  • Investors favour the Healthcare sector the most for future growth, which is trading above its 3-year average PE ratio of 23.4x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 48.8%, which is higher than its past year's earnings growth of 4.5% 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 13% 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$19.502.9%
+S$2.5b		16.9%PB1.4xFinancials
D05 DBS Group HoldingsS$55.121.3%
+S$2.1b		27.0%PB2.3xFinancials
U11 United Overseas BankS$34.731.3%
+S$743.5m		-5.0%PB1.2xFinancials
S58 SATSS$3.759.6%
+S$490.9m		4.2%PE21.5xIndustrials
C09 City DevelopmentsS$7.676.4%
+S$411.0m		50.7%PE35.2xReal Estate
See more

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7D
-0.5%
1Y
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D05
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DBS Group Holdings
7D
1.3%
1Y
27.0%

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O39
S$19.50
Oversea-Chinese Banking
7D
2.9%
1Y
16.9%

O39: Future Performance Will Reflect Stable Profitability And Measured Long Term Risk Balance

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F17
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GuocoLand
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U11
S$34.73
United Overseas Bank
7D
1.3%
1Y
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U11: Future Returns Will Depend On Managing Asset Quality And Credit Costs

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S58
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SATS
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9.6%
1Y
4.2%

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K71U
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Keppel REIT
7D
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AIY
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iFAST
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J36
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Jardine Matheson Holdings
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C09
S$7.67
City Developments
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6.4%
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C09: Higher Required Returns Will Support Stronger Long Term Earnings Outlook

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Y92
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Thai Beverage
7D
-1.1%
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8YZ
S$0.65
Yangzijiang Maritime Development
7D
-6.5%
1Y
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G13
S$0.71
Genting Singapore
7D
-1.4%
1Y
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9CI
S$2.64
CapitaLand Investment
7D
1.9%
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Z74
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7D
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1Y
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