Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Singaporean (SGX) Market Analysis & Valuation

UpdatedJun 24, 2026
DataAggregated Company Financials
Companies500
  • 7D0.9%
  • 3M3.6%
  • 1Y29.5%
  • YTD8.5%

In the last week, the market has been flat. As for the longer term, the market has risen 30% in the past 12 months. 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, 24 Jun 2026S$974.8bS$536.8bS$58.1b13.9x16.8x1.8x
Fri, 22 May 2026S$963.1bS$534.4bS$58.0b14.3x16.6x1.8x
Sun, 19 Apr 2026S$962.2bS$531.8bS$60.4b14.8x15.9x1.8x
Tue, 17 Mar 2026S$926.6bS$533.5bS$60.5b13.9x15.3x1.7x
Thu, 12 Feb 2026S$947.1bS$559.1bS$55.5b15.2x17.1x1.7x
Sat, 10 Jan 2026S$901.3bS$562.3bS$55.3b15x16.3x1.6x
Mon, 08 Dec 2025S$867.3bS$563.4bS$55.3b15.1x15.7x1.5x
Wed, 05 Nov 2025S$851.4bS$565.7bS$56.6b14.8x15x1.5x
Fri, 03 Oct 2025S$843.8bS$562.8bS$56.4b14.8x15x1.5x
Sun, 31 Aug 2025S$818.7bS$562.2bS$56.3b13.8x14.6x1.5x
Tue, 29 Jul 2025S$806.1bS$541.5bS$50.6b13.7x15.9x1.5x
Thu, 26 Jun 2025S$739.3bS$542.0bS$51.3b12.7x14.4x1.4x
Sat, 24 May 2025S$733.4bS$548.3bS$51.9b12.4x14.1x1.3x
Mon, 21 Apr 2025S$706.8bS$551.6bS$47.4b11.4x14.9x1.3x
Wed, 19 Mar 2025S$733.1bS$555.5bS$47.7b11.6x15.4x1.3x
Fri, 14 Feb 2025S$728.3bS$546.2bS$45.0b11.8x16.2x1.3x
Sun, 12 Jan 2025S$714.3bS$548.2bS$43.6b11.6x16.4x1.3x
Tue, 10 Dec 2024S$717.4bS$544.4bS$43.5b11.7x16.5x1.3x
Thu, 07 Nov 2024S$696.6bS$538.6bS$44.2b11.7x15.8x1.3x
Sat, 05 Oct 2024S$713.9bS$541.3bS$45.0b11.7x15.9x1.3x
Mon, 02 Sep 2024S$682.1bS$545.7bS$44.9b11x15.2x1.2x
Wed, 31 Jul 2024S$681.0bS$546.9bS$44.5b11.7x15.3x1.2x
Fri, 28 Jun 2024S$662.4bS$548.7bS$44.4b11.8x14.9x1.2x
Sun, 26 May 2024S$658.4bS$547.1bS$44.5b11.7x14.8x1.2x
Tue, 23 Apr 2024S$636.0bS$547.6bS$46.8b11.8x13.6x1.2x
Thu, 21 Mar 2024S$636.3bS$545.1bS$47.1b11.4x13.5x1.2x
Sat, 17 Feb 2024S$648.5bS$554.6bS$49.7b12x13x1.2x
Mon, 15 Jan 2024S$654.4bS$570.5bS$51.9b12.4x12.6x1.1x
Wed, 13 Dec 2023S$641.9bS$571.9bS$52.3b12.3x12.3x1.1x
Fri, 10 Nov 2023S$646.0bS$574.6bS$53.7b12.2x12x1.1x
Sun, 08 Oct 2023S$662.9bS$573.9bS$52.4b12.4x12.6x1.2x
Tue, 05 Sep 2023S$679.4bS$572.5bS$52.4b13x13x1.2x
Thu, 03 Aug 2023S$698.0bS$581.2bS$56.2b12.2x12.4x1.2x
Sat, 01 Jul 2023S$682.8bS$580.2bS$56.9b11.9x12x1.2x
Price to Earnings Ratio

12x


Total Market Cap: S$682.8bTotal Earnings: S$56.9bTotal Revenue: S$580.2bTotal 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 16.8x 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 2.6% 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 Market0.94%
Financials2.95%
Consumer Staples1.74%
Utilities1.52%
Telecom1.03%
Materials-0.053%
Industrials-0.79%
Consumer Discretionary-1.01%
Real Estate-1.51%
Healthcare-1.94%
Tech-2.09%
Energy-2.65%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 54.4x.
    • 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$66.294.0%
+S$7.3b		49.6%PB2.7xFinancials
O39 Oversea-Chinese BankingS$25.073.3%
+S$3.6b		55.1%PB1.8xFinancials
U11 United Overseas BankS$39.842.2%
+S$1.4b		12.8%PB1.4xFinancials
Z74 Singapore TelecommunicationsS$4.351.2%
+S$820.2m		13.6%PE12.7xTelecom
F34 Wilmar InternationalS$3.733.6%
+S$811.6m		28.6%PE12.8xConsumer Staples
See more

Market Insights

Header cover image
Every trend sets off ripples. The further out you think, the less crowded it gets.
Continue reading
The gravity of the SpaceX IPO

Latest News

Z74
S$4.35
Singapore Telecommunications
7D
1.2%
1Y
13.6%
C6L
S$7.37
Singapore Airlines
7D
2.2%
1Y
7.6%
Narrative Update • Jun 23

C6L: High Load Factors And New Partnership Will Mask Emerging Earnings Risk

The latest narrative update for Singapore Airlines reflects an unchanged analyst price target of SGD 6.59, with analysts citing refreshed assumptions on discount rate, revenue growth, profit margin and future P/E as the basis for their view. What's in the News Singapore Airlines reported May 2026 group operating results, with Group Airlines passenger available seats at 15,731.3 Km million, revenue passenger at 13,528.7 Km million, passengers carried at 3,612,100, and a passenger load factor of 86.0%.
O39
S$25.07
Oversea-Chinese Banking
7D
3.3%
1Y
55.1%
New Narrative • Jun 22

Wealth Expansion And Sustainable Financing Will Support A Stronger Long-Term Earnings Profile

Catalysts About Oversea-Chinese Banking Oversea-Chinese Banking provides banking, wealth management and insurance services with a strong presence in Singapore, Hong Kong and key ASEAN markets. What are the underlying business or industry changes driving this perspective?
C07
S$26.44
Jardine Cycle & Carriage
7D
-6.7%
1Y
11.8%
J36
US$62.15
Jardine Matheson Holdings
7D
-2.2%
1Y
34.1%
9CI
S$2.52
CapitaLand Investment
7D
-2.3%
1Y
-0.8%
U14
S$9.72
UOL Group
7D
-4.1%
1Y
60.7%
S58
S$4.34
SATS
7D
7.2%
1Y
43.7%
S68
S$23.84
Singapore Exchange
7D
-1.4%
1Y
71.5%
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.
C09
S$8.01
City Developments
7D
-6.4%
1Y
57.7%
Narrative Update • Jun 16

C09: Peck Hay Road Acquisition And Shareholder Meeting Will Support Future Upside Potential

Analysts have raised their SGD fair value estimate for City Developments from about SGD10.52 to about SGD10.60, reflecting updated expectations around earnings and divestments that also supported a recent Street price target increase to SGD9.78 from SGD7.93. What's in the News CDL and Hong Realty submitted the top bid of S$542.4m for a 99-year leasehold private housing site at Peck Hay Road, in an 80:20 joint venture structure, according to recent news reports.
U11
S$39.84
United Overseas Bank
7D
2.2%
1Y
12.8%
Narrative Update • Jun 16

U11: Future Returns Will Reflect AI Partnership And Asset Management Sale Talks

Analysts have nudged their SGD price target for United Overseas Bank higher from SGD 38.65 to SGD 39.07, citing updated assumptions that include slightly adjusted discount rates, revenue growth, profit margins and future P/E expectations. What's in the News Allianz Global Investors has entered exclusive talks to acquire United Overseas Bank’s asset management business, with discussions ongoing and no certainty that a final agreement will be reached, according to Bloomberg.
BS6
S$3.55
Yangzijiang Shipbuilding (Holdings)
7D
-1.4%
1Y
59.9%
D05
S$66.29
DBS Group Holdings
7D
4.0%
1Y
49.6%
H78
US$7.11
Hongkong Land Holdings
7D
-1.7%
1Y
30.0%
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.
F34
S$3.73
Wilmar International
7D
3.6%
1Y
28.6%
EB5
S$3.16
First Resources
7D
9.7%
1Y
117.9%