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

Singaporean (SGX) Market Analysis & Valuation

UpdatedJul 16, 2026
DataAggregated Company Financials
Companies501
  • 7D3.0%
  • 3M6.1%
  • 1Y28.0%
  • YTD14.1%

The market has climbed 3.0% in the last 7 days, lead by the Financials sector with a gain of 5.3%. The market is up 28% over the last 12 months. 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
Thu, 16 Jul 2026S$1.0tS$535.7bS$58.0b14.2x17.7x1.9x
Sat, 13 Jun 2026S$950.4bS$535.4bS$58.2b14x16.3x1.8x
Mon, 11 May 2026S$952.9bS$531.4bS$60.0b14.6x15.9x1.8x
Wed, 08 Apr 2026S$948.3bS$533.5bS$60.4b14.2x15.7x1.8x
Fri, 06 Mar 2026S$926.1bS$536.4bS$56.7b14x16.3x1.7x
Sun, 01 Feb 2026S$928.8bS$561.2bS$55.7b15.2x16.7x1.7x
Tue, 30 Dec 2025S$883.5bS$562.1bS$55.2b14.7x16x1.6x
Thu, 27 Nov 2025S$864.4bS$563.7bS$55.1b14.8x15.7x1.5x
Sat, 25 Oct 2025S$852.3bS$564.7bS$56.5b14.8x15.1x1.5x
Mon, 22 Sep 2025S$830.9bS$562.7bS$56.3b14.5x14.8x1.5x
Wed, 20 Aug 2025S$800.2bS$554.1bS$55.2b13.7x14.5x1.4x
Fri, 18 Jul 2025S$788.3bS$543.1bS$51.1b13.1x15.4x1.5x
Sun, 15 Jun 2025S$737.9bS$542.7bS$51.3b12.5x14.4x1.4x
Tue, 13 May 2025S$731.8bS$551.2bS$47.6b12x15.4x1.3x
Thu, 10 Apr 2025S$651.1bS$556.9bS$47.6b10.7x13.7x1.2x
Sat, 08 Mar 2025S$733.5bS$554.7bS$48.8b11.7x15x1.3x
Mon, 03 Feb 2025S$724.4bS$546.6bS$43.5b12x16.7x1.3x
Wed, 01 Jan 2025S$714.5bS$547.8bS$43.6b11.8x16.4x1.3x
Fri, 29 Nov 2024S$707.1bS$544.8bS$43.5b11.5x16.2x1.3x
Sun, 27 Oct 2024S$697.4bS$536.7bS$43.9b11.8x15.9x1.3x
Tue, 24 Sep 2024S$713.7bS$540.3bS$44.9b11.4x15.9x1.3x
Thu, 22 Aug 2024S$668.1bS$547.1bS$44.9b10.9x14.9x1.2x
Sat, 20 Jul 2024S$681.4bS$547.0bS$44.6b11.9x15.3x1.2x
Mon, 17 Jun 2024S$656.0bS$548.2bS$44.4b11.8x14.8x1.2x
Wed, 15 May 2024S$656.7bS$539.6bS$48.8b11.5x13.4x1.2x
Fri, 12 Apr 2024S$649.2bS$546.4bS$47.0b11.8x13.8x1.2x
Sun, 10 Mar 2024S$620.4bS$531.6bS$47.9b11.6x13x1.2x
Tue, 06 Feb 2024S$634.1bS$554.6bS$49.7b12.1x12.8x1.1x
Thu, 04 Jan 2024S$660.3bS$570.4bS$52.2b12.6x12.7x1.2x
Sat, 02 Dec 2023S$641.8bS$572.9bS$52.4b12x12.2x1.1x
Mon, 30 Oct 2023S$637.8bS$575.1bS$52.4b12.1x12.2x1.1x
Wed, 27 Sep 2023S$672.0bS$574.7bS$52.5b12.8x12.8x1.2x
Fri, 25 Aug 2023S$669.8bS$572.5bS$53.1b12.4x12.6x1.2x
Sun, 23 Jul 2023S$695.5bS$576.1bS$56.7b11.9x12.3x1.2x
Price to Earnings Ratio

12.3x


Total Market Cap: S$695.5bTotal Earnings: S$56.7bTotal Revenue: S$576.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Singaporean Market Price to Earnings3Y Average 14.8x202420252026
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 17.7x which is higher than its 3-year average PE of 14.8x.
Past Earnings Growth
  • The earnings for Singaporean listed companies have remained mostly flat over the last three years.
  • Meanwhile revenues have declined 2.4% 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 Market3.05%
Financials5.28%
Tech3.94%
Consumer Staples2.47%
Materials2.31%
Healthcare2.27%
Real Estate1.26%
Industrials1.10%
Consumer Discretionary0.99%
Telecom0.79%
Energy-0.35%
Utilities-1.47%
Sector PE
  • Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 56.0x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 10.4% 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 below its 3-year average of 9.6x.
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 8.6% 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
O39 Oversea-Chinese BankingS$28.785.3%
+S$6.6b		68.5%PB2.1xFinancials
D05 DBS Group HoldingsS$72.483.2%
+S$6.4b		55.3%PB3xFinancials
G07 Great Eastern HoldingsS$19.5318.4%
+S$2.9b		n/aPE15.5xFinancials
BN4 KeppelS$11.465.2%
+S$1.0b		42.2%PE19.5xIndustrials
H78 Hongkong Land HoldingsUS$7.545.0%
+US$770.2m		19.3%PE12.8xReal Estate
See more

Market Insights

Header cover image
No financial statement shows what a brand is 'worth' despite it being an incredibly valuable asset for some companies. In the volatile world of social media hypes and fads, it's worth understanding what makes a true enduring brand.
Continue reading
Q-Day: The risk the market forgot to reprice

Latest News

J36
US$62.25
Jardine Matheson Holdings
7D
1.5%
1Y
17.5%
Narrative Update • Jul 15

J36: New CEO And Buybacks Will Support Future Re-Rating Potential

The analyst fair value estimate for Jardine Matheson Holdings has been revised from $73.58 to $86.07. Analysts point to fresh Buy and Overweight initiations at $90 targets and highlight company specific catalysts such as a new CEO, past restructuring templates and an increased focus on shareholder returns.
S63
S$10.70
Singapore Technologies Engineering
7D
-2.0%
1Y
27.7%
S68
S$23.86
Singapore Exchange
7D
-3.1%
1Y
51.1%
C6L
S$7.61
Singapore Airlines
7D
-0.9%
1Y
3.0%
Narrative Update • Jul 14

C6L: Persistent High Load Factors Will Eventually Expose Earnings Fragility

Analysts have adjusted their price target on Singapore Airlines to SGD6.77 from SGD6.59, citing updated assumptions around discount rates, revenue, profit margins and future P/E levels. What's in the News Singapore Airlines plans to seek shareholder approval at the AGM on 24 July 2026 for the adoption of a New Constitution, which would update the company bylaws.
D05
S$72.48
DBS Group Holdings
7D
3.2%
1Y
55.3%
O39
S$28.78
Oversea-Chinese Banking
7D
5.3%
1Y
68.5%
BN4
S$11.46
Keppel
7D
5.2%
1Y
42.2%
Narrative Update • Jul 09

BN4: Subsea Capacity Deals Will Support Higher Future Earnings Power

The analyst fair value estimate for Keppel has been revised from SGD 13.17 to SGD 16.00 as analysts factor in updated assumptions for revenue growth, profit margins, and future P/E expectations. What's in the News Keppel, through its Connectivity Division, signed an Indefeasible Right of Use agreement with a global technology company for a fibre pair on the Bifrost subsea cable system, the fourth of its five fibre pairs.
H78
US$7.54
Hongkong Land Holdings
7D
5.0%
1Y
19.3%
Narrative Update • Jul 09

H78: Share Buybacks And Higher Future P/E Will Shape Upside Execution Risk Profile

Analysts have raised their price target for Hongkong Land Holdings to $8.29 from $7.76, as modestly higher assumed future P/E and slightly adjusted forecasts for discount rate, revenue decline, and profit margin feed into updated valuation work. What’s in the News for Hongkong Land Holdings Hongkong Land Holdings commenced share repurchases on May 18, 2026, under a shareholder mandated program that allows the company to buy back up to 709,689,131 shares, equivalent to 10% of its issued ordinary share capital.
U11
S$43.50
United Overseas Bank
7D
-1.9%
1Y
18.3%
Narrative Update • Jul 08

U11: Future Returns Will Reflect AI Collaboration And Asset Management Divestment Potential

Analysts have revised their price target for United Overseas Bank to SGD 40.53 from SGD 39.07. This change reflects updated assumptions on fair value, discount rate, revenue growth, profit margin and future P/E multiples.
D01
US$3.62
DFI Retail Group Holdings
7D
-2.2%
1Y
16.0%
V03
S$16.38
Venture
7D
-3.2%
1Y
32.2%
F34
S$3.90
Wilmar International
7D
2.4%
1Y
30.4%
G07
S$19.53
Great Eastern Holdings
7D
18.4%
1Y
n/a
U96
S$5.48
Sembcorp Industries
7D
-2.1%
1Y
-28.7%
BS6
S$3.65
Yangzijiang Shipbuilding (Holdings)
7D
7.0%
1Y
55.3%
F03
S$2.33
Food Empire Holdings
7D
-8.3%
1Y
31.9%