Singapore Technologies Engineering Ltd

SGX:S63 Stock Report

Market Cap: S$35.1b

Singapore Technologies Engineering Future Growth

Future criteria checks 5/6

Singapore Technologies Engineering is forecast to grow earnings and revenue by 21.8% and 9.3% per annum respectively. EPS is expected to grow by 22.3% per annum. Return on equity is forecast to be 35.1% in 3 years.

Key information

21.8%

Earnings growth rate

22.29%

EPS growth rate

Aerospace & Defense earnings growth27.5%
Revenue growth rate9.3%
Future return on equity35.12%
Analyst coverage

Good

Last updated19 May 2026

Recent future growth updates

Recent updates

Narrative Update • May 11

S63: Record Contract Wins And Special Dividend Will Support Forward Returns

Analysts have lifted their price target for Singapore Technologies Engineering from SGD 11.41 to SGD 12.17, citing updated assumptions on the discount rate, revenue growth, profit margin, and future P/E multiples. What's in the News Secured about $4.8b in new contracts in Q1 2026 across Commercial Aerospace, Defence & Public Security, and Urban Solutions & Satcom segments, spread across MRO, systems, and infrastructure work (client announcement).
Narrative Update • Apr 27

S63: Contract Wins And FY2025 Dividends Will Support Steady Forward Returns

Analysts have kept their SGD 11.41 price target for Singapore Technologies Engineering unchanged, pointing to relatively stable assumptions around discount rate, revenue growth, profit margin and future P/E as support for holding that line. What's in the News Proposed final and special tax exempt dividends of $0.06 and $0.05 per share for FY2025, with entitlement based on shareholders on record as of 5.00 p.m. on 29 April 2026, subject to approval at the AGM on 23 April 2026.
Narrative Update • Apr 12

S63: Contract Wins And FY2025 Dividends Will Underpin Steady Returns

Analysts have nudged their price target for Singapore Technologies Engineering slightly higher from SGD11.26 to SGD11.41. This reflects updated assumptions around the discount rate, revenue growth, profit margin and future P/E multiples.
Narrative Update • Mar 28

S63: Contract Momentum And Higher Dividends Will Support Steady Returns

Analysts have lifted their price target for Singapore Technologies Engineering from SGD 10.84 to SGD 11.26, citing updated assumptions around revenue growth, profit margins, discount rate and future P/E multiples. What's in the News Proposed final and special tax exempt dividends of SGD 0.06 and SGD 0.05 per share for FY2025, subject to shareholder approval at the AGM scheduled for 23 April 2026.
Narrative Update • Mar 12

S63: Contract Wins And Dividend Outlook Will Support Steady Returns

Analysts have adjusted their fair value estimate for Singapore Technologies Engineering from SGD 9.60 to SGD 10.84, citing updated assumptions around discount rates, revenue growth, profit margins, and future P/E levels. What's in the News Proposed final dividend of 6 cents per share and special tax exempt dividend of 5 cents per share for FY2025, subject to shareholder approval at the AGM scheduled for 23 April 2026 (company announcement).
New Narrative • Mar 10

Record Order Book And Global Defense Demand Will Reshape Long Term Earnings Profile

Catalysts About Singapore Technologies Engineering Singapore Technologies Engineering is a global technology, defense and engineering group with businesses across commercial aerospace, defense and public security, and urban solutions and Satcom. What are the underlying business or industry changes driving this perspective?
Narrative Update • Feb 25

S63: Contract Wins And Digital Aerospace Partnership Will Support Steady Returns

Analysts have kept their price target on Singapore Technologies Engineering steady at SGD 9.60, with minimal tweaks to the discount rate, revenue growth, profit margin and future P/E assumptions. These changes reflect only minor model refinements rather than a change in conviction.
Narrative Update • Feb 10

S63: Contract Momentum And Special Dividends Will Support Steady Forward Returns

Analysts have lifted their price target for Singapore Technologies Engineering from $9.22 to $9.60 as they factor in updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E multiples. What's in the News ST Engineering reported about $4.7b of new contracts in 4Q 2025 across Commercial Aerospace, Defence & Public Security, and Urban Solutions & Satcom, bringing total contract wins for 2025 to $18.7b, compared with $12.6b in 2024 (company announcement).
New Narrative • Jan 30

Rising Defense Spending And Satcom Shifts Will Pressure Margins And Future Earnings Potential

Catalysts About Singapore Technologies Engineering Singapore Technologies Engineering is a global technology, defense and engineering group with businesses across commercial aerospace, defense and public security, and urban solutions and satellite communications. What are the underlying business or industry changes driving this perspective?
Narrative Update • Jan 26

S63: Special Dividends And Solid Earnings Outlook Will Support Steady Returns

Analysts have nudged their price target for Singapore Technologies Engineering higher to $9.22 from $9.01. This reflects updated views on fair value, discount rate, profit margin and future P/E assumptions.
Narrative Update • Jan 12

S63: Dividends And Strong Contract Wins Will Support Steady Outlook

Analysts have nudged their fair value estimate for Singapore Technologies Engineering higher to $9.01 from $8.83, citing updated assumptions around discount rates, revenue growth, profit margins, and future P/E multiples. What's in the News Company guided that it expects to report a positive net profit for the second half of 2025 after accounting for all one off effects in that period.
Analysis Article • Dec 02

Singapore Technologies Engineering (SGX:S63) Has A Pretty Healthy Balance Sheet

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Analysis Article • Nov 14

Singapore Technologies Engineering (SGX:S63) Is Due To Pay A Dividend Of SGD0.04

Singapore Technologies Engineering Ltd ( SGX:S63 ) will pay a dividend of SGD0.04 on the 5th of December. This makes...
Narrative Update • Nov 13

S63: Dividend Proposals And Contract Wins Will Support Steady Performance

Analysts have raised their price target for Singapore Technologies Engineering from $8.70 to $8.83, citing modest improvements in projected revenue growth and profit margins as reasons for the adjustment. What's in the News A special dividend of 5.0 cents per share has been proposed for the year 2025 (Key Developments).
Analysis Article • Oct 18

Calculating The Fair Value Of Singapore Technologies Engineering Ltd (SGX:S63)

Key Insights The projected fair value for Singapore Technologies Engineering is S$9.26 based on 2 Stage Free Cash Flow...
Analysis Article • Sep 17

With EPS Growth And More, Singapore Technologies Engineering (SGX:S63) Makes An Interesting Case

It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story...
Narrative Update • Aug 30

Investments In MRO Capacities And International Expansion Will Strengthen Future Competitiveness

With the Future P/E and Discount Rate remaining effectively unchanged, analysts have made only a minimal downward revision to Singapore Technologies Engineering’s fair value, decreasing the consensus price target from SGD8.72 to SGD8.62. What's in the News ST Engineering secured approximately $4.7 billion in new contracts in Q2 2025 across Commercial Aerospace, Defence & Public Security, and Urban Solutions & Satcom segments.
Analysis Article • Aug 18

Singapore Technologies Engineering (SGX:S63) Will Pay A Dividend Of SGD0.04

Singapore Technologies Engineering Ltd ( SGX:S63 ) will pay a dividend of SGD0.04 on the 5th of September. This makes...
Narrative Update • Aug 16

Investments In MRO Capacities And International Expansion Will Strengthen Future Competitiveness

Despite a lower revenue growth forecast, an improved net profit margin has led to a higher analyst price target for Singapore Technologies Engineering, which has increased from SGD8.25 to SGD8.81. What's in the News Secured approximately $4.7 billion in new contracts in 2Q 2025: $1.5 billion from Commercial Aerospace (notable MRO deals and multi-aircraft passenger-to-freighter conversions), $1.5 billion from Defence & Public Security (including unmanned systems for Singapore Navy, digital/AI/cyber solutions, ammunition, and ship maintenance), and $1.7 billion from Urban Solutions & Satcom (major rail projects, tolling systems, and satellite network upgrades).
Analysis Article • Jul 06

Calculating The Fair Value Of Singapore Technologies Engineering Ltd (SGX:S63)

Key Insights Singapore Technologies Engineering's estimated fair value is S$9.69 based on 2 Stage Free Cash Flow to...
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New Narrative • Mar 23

Investments In MRO Capacities And International Expansion Will Strengthen Future Competitiveness

Strong order book and strategic investments enhance revenue visibility, operational capabilities, and margins, supporting long-term growth.

Earnings and Revenue Growth Forecasts

SGX:S63 - Analysts future estimates and past financials data (SGD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/202816,3871,3931,4712,06412
12/31/202715,0911,2331,3631,85215
12/31/202613,6441,0631,2671,62715
12/31/202512,3464631,1281,708N/A
9/30/202512,0096161,1311,689N/A
6/30/202511,6717691,1351,670N/A
3/31/202511,4737351,1541,694N/A
12/31/202411,2767021,1731,718N/A
9/30/202411,0176729291,425N/A
6/30/202410,7586426851,131N/A
3/31/202410,4306146841,155N/A
12/31/202310,1015866841,179N/A
9/30/20239,8655615341,194N/A
6/30/20239,6295363841,209N/A
3/31/20239,33253545941N/A
12/31/20229,035535-293673N/A
9/30/20228,673545-20841N/A
6/30/20228,3125542531,009N/A
3/31/20228,0025624691,062N/A
12/31/20217,6935716851,114N/A
9/30/20217,4655666651,028N/A
6/30/20217,237560644942N/A
3/31/20217,1985419451,237N/A
12/31/20207,1585221,2461,533N/A
9/30/20207,6535591,1011,448N/A
6/30/20207,9295668071,184N/A
3/31/20207,923576331729N/A
12/31/20197,868578195590N/A
9/30/20197,354533N/A618N/A
6/30/20196,912528N/A670N/A
3/31/20196,783508N/A578N/A
12/31/20186,698494N/A639N/A
9/30/20186,618538N/A742N/A
6/30/20186,601531N/A807N/A
3/31/20186,657520N/A795N/A
12/31/20176,521503N/A764N/A
9/30/20176,647505N/A743N/A
6/30/20176,651454N/A804N/A
3/31/20176,567474N/A1,038N/A
12/31/20166,684485N/A759N/A
9/30/20166,642455N/A592N/A
6/30/20166,529512N/A538N/A
3/31/20166,451509N/A282N/A
12/31/20156,335529N/A465N/A
9/30/20156,405528N/A536N/A
6/30/20156,458517N/A458N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: S63's forecast earnings growth (21.8% per year) is above the savings rate (2.6%).

Earnings vs Market: S63's earnings (21.8% per year) are forecast to grow faster than the SG market (6.8% per year).

High Growth Earnings: S63's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: S63's revenue (9.3% per year) is forecast to grow faster than the SG market (5.3% per year).

High Growth Revenue: S63's revenue (9.3% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: S63's Return on Equity is forecast to be high in 3 years time (35.1%)

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/25 21:47
End of Day Share Price 2026/05/25 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Singapore Technologies Engineering Ltd is covered by 24 analysts. 15 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Yu Jie LoBofA Global Research
Siew Khee LimCGS International
Thanapol JiratanakijCGS International