SGX:S68Capital Markets
Singapore Exchange (SGX:S68) Stock Premium Looks Exposed By Margin Compression
Singapore Exchange went into this earnings print priced for perfection, trading on a P/E of 37.5x and sitting about 17% higher over the past three months. After the FY2026 numbers hit the tape, the real story is less about a surprise in revenue or earnings and more about what that premium price now asks of investors.
Record full year revenue and higher adjusted net profit sit against a trailing net margin of 44.8% that is lower than last year. The market now needs to decide if that margin...