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Singaporean (SGX) Market Analysis & Valuation

UpdatedJun 16, 2026
DataAggregated Company Financials
Companies500
  • 7D2.5%
  • 3M1.5%
  • 1Y27.5%
  • YTD7.1%

The market is up 2.5% in the last 7 days, led by the Financials and all sectors gaining ground. In the last year, the market has climbed 27%. Earnings are forecast to grow by 7.1% annually.

Trending IndustriesOil and Gas

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 16 Jun 2026S$961.1bS$534.8bS$58.0b14.2x16.6x1.8x
Thu, 14 May 2026S$965.7bS$532.3bS$60.1b14.6x16.1x1.8x
Sat, 11 Apr 2026S$957.3bS$532.0bS$60.4b14.4x15.8x1.8x
Mon, 09 Mar 2026S$927.7bS$534.0bS$59.4b14.2x15.6x1.7x
Wed, 04 Feb 2026S$936.0bS$561.0bS$55.7b15.1x16.8x1.7x
Fri, 02 Jan 2026S$885.6bS$562.1bS$55.3b14.8x16x1.6x
Sun, 30 Nov 2025S$867.7bS$563.4bS$55.2b14.8x15.7x1.5x
Tue, 28 Oct 2025S$856.4bS$564.2bS$56.5b15x15.2x1.5x
Thu, 25 Sep 2025S$829.1bS$563.0bS$56.4b14.5x14.7x1.5x
Sat, 23 Aug 2025S$814.1bS$562.8bS$56.3b13.7x14.5x1.4x
Mon, 21 Jul 2025S$793.7bS$543.0bS$51.1b13.3x15.5x1.5x
Wed, 18 Jun 2025S$741.6bS$542.7bS$51.3b12.8x14.5x1.4x
Fri, 16 May 2025S$733.8bS$551.0bS$47.5b12.3x15.4x1.3x
Sun, 13 Apr 2025S$672.5bS$552.9bS$47.5b11.3x14.2x1.2x
Tue, 11 Mar 2025S$730.8bS$554.6bS$48.6b11.6x15x1.3x
Thu, 06 Feb 2025S$717.4bS$545.0bS$43.6b12x16.5x1.3x
Sat, 04 Jan 2025S$718.2bS$548.6bS$43.6b11.6x16.5x1.3x
Mon, 02 Dec 2024S$708.1bS$544.1bS$43.5b11.8x16.3x1.3x
Wed, 30 Oct 2024S$695.7bS$537.1bS$43.9b11.5x15.8x1.3x
Fri, 27 Sep 2024S$708.8bS$539.7bS$44.9b11.3x15.8x1.3x
Sun, 25 Aug 2024S$671.7bS$546.3bS$44.9b11x15x1.2x
Tue, 23 Jul 2024S$680.4bS$546.9bS$44.6b11.8x15.3x1.2x
Thu, 20 Jun 2024S$657.2bS$547.8bS$44.4b11.7x14.8x1.2x
Sat, 18 May 2024S$658.6bS$546.8bS$46.9b11.6x14x1.2x
Mon, 15 Apr 2024S$647.0bS$547.7bS$46.8b12x13.8x1.2x
Wed, 13 Mar 2024S$632.2bS$543.2bS$47.1b11.4x13.4x1.2x
Fri, 09 Feb 2024S$634.5bS$554.8bS$49.7b11.8x12.8x1.1x
Sun, 07 Jan 2024S$656.9bS$570.6bS$52.2b12.5x12.6x1.2x
Tue, 05 Dec 2023S$641.1bS$572.6bS$52.4b12.1x12.2x1.1x
Thu, 02 Nov 2023S$641.1bS$575.4bS$52.4b12x12.2x1.1x
Sat, 30 Sep 2023S$672.0bS$574.2bS$52.5b12.8x12.8x1.2x
Mon, 28 Aug 2023S$670.8bS$572.8bS$52.7b13.1x12.7x1.2x
Wed, 26 Jul 2023S$697.5bS$575.8bS$56.7b12.1x12.3x1.2x
Fri, 23 Jun 2023S$689.5bS$578.0bS$56.8b11.4x12.1x1.2x
Price to Earnings Ratio

12.1x


Total Market Cap: S$689.5bTotal Earnings: S$56.8bTotal Revenue: S$578.0bTotal 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 16.6x 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 Market2.53%
Energy6.07%
Tech5.61%
Consumer Staples4.49%
Industrials3.97%
Materials3.56%
Healthcare2.61%
Real Estate2.38%
Utilities2.29%
Financials1.78%
Telecom1.40%
Consumer Discretionary0.95%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 53.8x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 9.1% 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
S68 Singapore ExchangeS$24.1711.3%
+S$2.6b		70.3%PE39.7xFinancials
O39 Oversea-Chinese BankingS$24.261.9%
+S$2.1b		50.8%PB1.7xFinancials
F34 Wilmar InternationalS$3.606.2%
+S$1.3b		19.6%PE12.4xConsumer Staples
BN4 KeppelS$11.216.7%
+S$1.3b		51.1%PE19.1xIndustrials
U11 United Overseas BankS$39.001.6%
+S$1.0b		11.6%PB1.3xFinancials
See more

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Latest News

BN4
S$11.21
Keppel
7D
6.7%
1Y
51.1%
Analysis Article • 1h

Keppel (SGX:BN4) Stock Could Be 9% Undervalued After Its S$325,000,000 Perpetual Securities Sale

How Keppel’s new perpetual securities frame the latest stock move Keppel (SGX:BN4) recently priced S$325,000,000 of fixed rate subordinated perpetual securities, an event that gives investors fresh context for assessing the stock after recent trading swings and changing earnings expectations. The Series 018 perpetuals offer a 3.30% annual distribution from June 11, 2026 to June 11, 2029, with subsequent resets tied to the prevailing 3 year SORA OIS plus an initial spread of 1.62% and a 1.00%...
C6L
S$7.21
Singapore Airlines
7D
3.9%
1Y
4.8%
BS6
S$3.60
Yangzijiang Shipbuilding (Holdings)
7D
5.6%
1Y
56.5%
D05
S$63.73
DBS Group Holdings
7D
-0.05%
1Y
43.3%
5E2
S$2.00
Seatrium
7D
-0.5%
1Y
-4.3%
Narrative Update • Jun 10

5E2: Operation Car Wash Resolution Will Support Future Upside Potential

Analysts have nudged their fair value estimate for Seatrium slightly lower from SGD 2.78 to SGD 2.75, citing updated assumptions for discount rates, revenue growth, profit margins, and forward P/E multiples. What's in the News Singapore High Court approved Seatrium's Deferred Prosecution Agreement related to Operation Car Wash, following an earlier signing on July 30, 2025.
U11
S$39.00
United Overseas Bank
7D
1.6%
1Y
11.6%
D01
US$3.76
DFI Retail Group Holdings
7D
-0.8%
1Y
39.8%
Narrative Update • Jun 04

D01: Higher Final Dividend Will Support Future Share Re Rating

Analysts have kept their $5.70 price target for DFI Retail Group Holdings unchanged, citing only very small adjustments to the discount rate, revenue growth, profit margin and future P/E assumptions in their latest models. What's in the News DFI Retail Group Holdings recommended a 2025 final dividend of US$0.105 per share, with payment guided for 13 May 2026, subject to approval at the annual general meeting scheduled for 7 May 2026.
O39
S$24.26
Oversea-Chinese Banking
7D
1.9%
1Y
50.8%
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$3.60
Wilmar International
7D
6.2%
1Y
19.6%
Y92
S$0.43
Thai Beverage
7D
-1.1%
1Y
-6.5%
Narrative Update • Jun 03

Y92: Lower Revenue Assumptions And Modest Margins Will Constrain Future Upside Potential

Analysts have raised their price target on Thai Beverage to SGD0.39 from SGD0.37, citing updated assumptions that reflect their latest views on fair value, revenue growth, profit margins and future P/E. What's in the News No recent company specific news items or key developments are available from the referenced sources at this time.
S68
S$24.17
Singapore Exchange
7D
11.3%
1Y
70.3%
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$63.55
Jardine Matheson Holdings
7D
4.0%
1Y
37.4%
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.
AGS
S$2.51
Hour Glass
7D
-2.0%
1Y
43.4%
Analysis Article • May 29

Hour Glass' (SGX:AGS) Earnings Are Of Questionable Quality

Unsurprisingly, The Hour Glass Limited's ( SGX:AGS ) stock price was strong on the back of its healthy earnings report...
Z74
S$4.30
Singapore Telecommunications
7D
-0.5%
1Y
9.4%
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...
E5H
S$0.27
Golden Agri-Resources
7D
-1.9%
1Y
6.0%
ULG
US$1.37
UltraGreen.ai
7D
-4.2%
1Y
n/a