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Singaporean (SGX) Market Analysis & Valuation

UpdatedJul 01, 2026
DataAggregated Company Financials
Companies500
  • 7D-0.6%
  • 3M1.6%
  • 1Y25.8%
  • YTD7.8%

The market has been flat over the last week. More promisingly, the market is up 26% over the past 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
Wed, 01 Jul 2026S$968.7bS$536.5bS$58.1b14x16.7x1.8x
Fri, 29 May 2026S$950.5bS$535.1bS$58.3b14.3x16.3x1.8x
Sun, 26 Apr 2026S$951.3bS$532.4bS$60.5b14.6x15.7x1.8x
Tue, 24 Mar 2026S$922.4bS$532.6bS$60.5b13.5x15.2x1.7x
Thu, 19 Feb 2026S$937.1bS$559.3bS$56.2b14.9x16.7x1.7x
Sat, 17 Jan 2026S$919.5bS$564.4bS$55.3b15.1x16.6x1.6x
Mon, 15 Dec 2025S$875.1bS$562.9bS$55.3b14.7x15.8x1.6x
Wed, 12 Nov 2025S$869.9bS$563.7bS$55.5b14.5x15.7x1.5x
Fri, 10 Oct 2025S$851.4bS$564.0bS$56.4b15x15.1x1.5x
Sun, 07 Sep 2025S$826.7bS$562.9bS$56.3b14x14.7x1.5x
Tue, 05 Aug 2025S$796.3bS$543.2bS$52.3b14x15.2x1.5x
Thu, 03 Jul 2025S$756.9bS$540.8bS$51.3b12.9x14.8x1.4x
Sat, 31 May 2025S$732.4bS$548.7bS$51.5b12.5x14.2x1.3x
Mon, 28 Apr 2025S$723.9bS$552.2bS$47.5b11.5x15.2x1.3x
Wed, 26 Mar 2025S$742.1bS$555.6bS$47.6b11.7x15.6x1.3x
Fri, 21 Feb 2025S$733.7bS$544.5bS$46.3b12.1x15.8x1.3x
Sun, 19 Jan 2025S$715.9bS$547.8bS$43.6b11.9x16.4x1.3x
Tue, 17 Dec 2024S$718.2bS$545.8bS$43.6b11.6x16.5x1.3x
Thu, 14 Nov 2024S$705.5bS$540.6bS$43.2b11.2x16.3x1.3x
Sat, 12 Oct 2024S$696.4bS$534.6bS$43.9b11.6x15.9x1.3x
Mon, 09 Sep 2024S$684.0bS$544.5bS$44.7b11.1x15.3x1.3x
Wed, 07 Aug 2024S$639.1bS$544.3bS$44.1b11.1x14.5x1.2x
Fri, 05 Jul 2024S$676.5bS$547.9bS$44.6b12x15.2x1.2x
Sun, 02 Jun 2024S$661.5bS$548.2bS$44.5b11.8x14.9x1.2x
Tue, 30 Apr 2024S$654.5bS$547.3bS$47.0b11.8x13.9x1.2x
Thu, 28 Mar 2024S$649.1bS$545.6bS$47.1b11.7x13.8x1.2x
Sat, 24 Feb 2024S$641.2bS$550.2bS$49.5b11.9x13x1.2x
Mon, 22 Jan 2024S$645.4bS$571.7bS$52.0b12.2x12.4x1.1x
Wed, 20 Dec 2023S$645.0bS$570.9bS$52.2b12.5x12.4x1.1x
Fri, 17 Nov 2023S$649.5bS$574.9bS$52.6b12.1x12.4x1.1x
Sun, 15 Oct 2023S$663.9bS$574.9bS$52.5b12.5x12.6x1.2x
Tue, 12 Sep 2023S$674.7bS$573.7bS$52.5b12.8x12.9x1.2x
Thu, 10 Aug 2023S$695.2bS$583.8bS$59.0b12x11.8x1.2x
Sat, 08 Jul 2023S$673.0bS$578.7bS$56.8b11.7x11.9x1.2x
Price to Earnings Ratio

11.9x


Total Market Cap: S$673.0bTotal Earnings: S$56.8bTotal Revenue: S$578.7bTotal 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 16.7x 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-0.63%
Tech1.71%
Telecom1.24%
Energy1.23%
Consumer Discretionary-0.088%
Real Estate-0.31%
Utilities-0.67%
Materials-0.71%
Industrials-0.83%
Financials-0.93%
Consumer Staples-1.77%
Healthcare-1.78%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 54.9x.
    • 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
Z74 Singapore TelecommunicationsS$4.411.4%
+S$984.2m		14.2%PE12.9xTelecom
C6L Singapore AirlinesS$7.684.2%
+S$976.8m		9.4%PE20.4xIndustrials
C38U CapitaLand Integrated Commercial TrustS$2.372.2%
+S$397.7m		8.7%PB1.2xReal Estate
S58 SATSS$4.534.4%
+S$280.6m		47.6%PE23.5xIndustrials
S68 Singapore ExchangeS$24.081.0%
+S$252.5m		59.7%PE39.6xFinancials
See more

Market Insights

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Latest News

Z74
S$4.41
Singapore Telecommunications
7D
1.4%
1Y
14.2%
J36
US$61.50
Jardine Matheson Holdings
7D
-1.0%
1Y
25.1%
C6L
S$7.68
Singapore Airlines
7D
4.2%
1Y
9.4%
C07
S$26.92
Jardine Cycle & Carriage
7D
1.8%
1Y
10.1%
Narrative Update • Jun 27

C07: Group Capital Returns And Revised Assumptions Will Shape Future Performance

Analysts have lifted their price target for Jardine Cycle & Carriage to SGD24.71 from SGD23.55, citing updated assumptions for the discount rate, revenue trends, profit margins and future P/E levels. What’s in the News for Jardine Cycle & Carriage Jardine Matheson Holdings, the parent group, has outlined targets to grow its dividend by at least 5% a year through 2030, which may influence income expectations around Jardine Cycle & Carriage within the wider group context.
S63
S$10.39
Singapore Technologies Engineering
7D
-3.3%
1Y
31.7%
Narrative Update • Jun 26

S63: Future Contracts And Buybacks Will Struggle To Justify Rich P/E

The analyst price target for Singapore Technologies Engineering has been updated from SGD7.28 to SGD9.21, with analysts attributing this change to revised assumptions for fair value, discount rate, revenue growth, profit margin, and future P/E expectations. What’s in the News for Singapore Technologies Engineering Approved a special tax exempt one tier dividend of $0.05 per share for the financial year ended December 31, 2025, at the 29th AGM on April 23, 2026.
D05
S$65.40
DBS Group Holdings
7D
-1.3%
1Y
45.0%
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.
BN4
S$10.94
Keppel
7D
-1.5%
1Y
47.0%
Narrative Update • Jun 25

BN4: Special Dividends And Buybacks Will Support Returns At Fair Valuation

Analysts have maintained Keppel's fair value estimate at SGD 12.32, with only very small adjustments to underlying assumptions such as the discount rate and future P/E. These adjustments together support an unchanged price target.
S59
S$3.46
SIA Engineering
7D
3.3%
1Y
9.5%
O39
S$24.79
Oversea-Chinese Banking
7D
-1.1%
1Y
51.2%
C38U
S$2.37
CapitaLand Integrated Commercial Trust
7D
2.2%
1Y
8.7%
Narrative Update • Jun 22

C38U: Paragon Acquisition And Portfolio Rebalance Will Support Future Income Upside

Analysts have maintained their fair value estimate for CapitaLand Integrated Commercial Trust at SGD2.69, citing updated assumptions for discount rate, revenue growth, profit margin and future P/E that together point to a marginally more conservative valuation profile. What’s in the News for CapitaLand Integrated Commercial Trust Unitholders approved CapitaLand Integrated Commercial Trust’s proposed S$3.9 billion acquisition of Orchard Road mall Paragon at an extraordinary general meeting, giving the go ahead for the purchase of the freehold asset with potential redevelopment options, according to recent news reports.
S58
S$4.53
SATS
7D
4.4%
1Y
47.6%
NS8U
US$0.17
Hutchison Port Holdings Trust
7D
-13.2%
1Y
-2.8%
Narrative Update • Jun 18

NS8U: Upcoming Distribution Will Support Attractive Payout And Undervaluation Thesis

Analysts have made a small upward revision to their price target for Hutchison Port Holdings Trust, citing updated fair value inputs, a slightly lower discount rate of 8.10% and refreshed assumptions for revenue growth, profit margin and a forward P/E of around 20.84x. What’s in the News for Hutchison Port Holdings Trust No recent company specific news items for Hutchison Port Holdings Trust were identified in the provided sources.
S68
S$24.08
Singapore Exchange
7D
1.0%
1Y
59.7%
Narrative Update • Jun 17

S68: New Regional Bond Futures Will Leave Shares Looking Overvalued

Analysts have lifted their price target for Singapore Exchange from SGD 20.30 to about SGD 21.33, citing updated assumptions around slightly higher revenue growth, profit margins, and a modest adjustment to the discount rate and future P/E expectations. What’s in the News for Singapore Exchange SGX Derivatives plans to launch Asia Pacific Government Bond Futures, with trading scheduled to start on 20 April.
AWX
S$10.63
AEM Holdings
7D
7.4%
1Y
618.2%
BS6
S$3.42
Yangzijiang Shipbuilding (Holdings)
7D
-3.7%
1Y
52.0%
F34
S$3.61
Wilmar International
7D
-3.2%
1Y
25.3%