Singapore Exchange
Market Cap
S$10.7b
Last Updated
2021/01/15 11:10 UTC
Data Sources
Company Financials +
Executive Summary
Singapore Exchange Limited, together with its subsidiaries, operates an integrated securities exchange and derivatives exchange, and related clearing houses in Singapore. More Details
Rewards
Risk Analysis
Earnings are forecast to decline by an average of 0.1% per year for the next 3 years
Snowflake Analysis
Excellent balance sheet with solid track record and pays a dividend.
Similar Companies
Share Price & News
How has Singapore Exchange's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: S68 is less volatile than 75% of SG stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: S68's weekly volatility (3%) has been stable over the past year.
Market Performance
7 Day Return
-1.3%
S68
1.2%
SG Capital Markets
1.4%
SG Market
1 Year Return
12.7%
S68
20.9%
SG Capital Markets
-10.9%
SG Market
Return vs Industry: S68 underperformed the SG Capital Markets industry which returned 20.6% over the past year.
Return vs Market: S68 exceeded the SG Market which returned -11.2% over the past year.
Shareholder returns
| S68 | Industry | Market | |
|---|---|---|---|
| 7 Day | -1.3% | 1.2% | 1.4% |
| 30 Day | 6.5% | 8.0% | 5.1% |
| 90 Day | 7.3% | 7.0% | 17.2% |
| 1 Year | 16.6%12.7% | 25.0%20.9% | -6.1%-10.9% |
| 3 Year | 38.8%23.7% | 42.9%27.9% | -9.4%-20.5% |
| 5 Year | 75.1%44.7% | 72.8%44.3% | 27.3%3.9% |
Long-Term Price Volatility Vs. Market
How volatile is Singapore Exchange's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
What Kind Of Shareholders Hold The Majority In Singapore Exchange Limited's (SGX:S68) Shares?4 weeks ago | Simply Wall St
The Singapore Exchange (SGX:S68) Share Price Has Gained 25% And Shareholders Are Hoping For More1 month ago | Simply Wall St
Here's How We Evaluate Singapore Exchange Limited's (SGX:S68) DividendValuation
Is Singapore Exchange undervalued compared to its fair value and its price relative to the market?
22.39x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: S68 (SGD9.87) is trading above our estimate of fair value (SGD8.79)
Significantly Below Fair Value: S68 is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: S68 is poor value based on its PE Ratio (22.4x) compared to the XA Capital Markets industry average (17.5x).
PE vs Market: S68 is poor value based on its PE Ratio (22.4x) compared to the SG market (15x).
Price to Earnings Growth Ratio
PEG Ratio: S68's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: S68 is overvalued based on its PB Ratio (8.5x) compared to the SG Capital Markets industry average (0.8x).
Next Steps
Future Growth
How is Singapore Exchange forecast to perform in the next 1 to 3 years based on estimates from 14 analysts?
-0.1%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: S68's earnings are forecast to decline over the next 3 years (-0.1% per year).
Earnings vs Market: S68's earnings are forecast to decline over the next 3 years (-0.1% per year).
High Growth Earnings: S68's earnings are forecast to decline over the next 3 years.
Revenue vs Market: S68's revenue (2.4% per year) is forecast to grow slower than the SG market (8.3% per year).
High Growth Revenue: S68's revenue (2.4% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: S68's Return on Equity is forecast to be high in 3 years time (30.8%)
Next Steps
Past Performance
How has Singapore Exchange performed over the past 5 years?
4.8%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: S68 has high quality earnings.
Growing Profit Margin: S68's current net profit margins (44.8%) are higher than last year (43%).
Past Earnings Growth Analysis
Earnings Trend: S68's earnings have grown by 4.8% per year over the past 5 years.
Accelerating Growth: S68's earnings growth over the past year (20.6%) exceeds its 5-year average (4.8% per year).
Earnings vs Industry: S68 earnings growth over the past year (20.6%) underperformed the Capital Markets industry 27.3%.
Return on Equity
High ROE: S68's Return on Equity (37.8%) is considered high.
Next Steps
Financial Health
How is Singapore Exchange's financial position?
Financial Position Analysis
Short Term Liabilities: S68's short term assets (SGD1.7B) exceed its short term liabilities (SGD1.3B).
Long Term Liabilities: S68's short term assets (SGD1.7B) exceed its long term liabilities (SGD172.4M).
Debt to Equity History and Analysis
Debt Level: S68's debt to equity ratio (24.3%) is considered satisfactory.
Reducing Debt: Insufficient data to determine if S68's debt to equity ratio has reduced over the past 5 years.
Debt Coverage: S68's debt is well covered by operating cash flow (205.3%).
Interest Coverage: S68 earns more interest than it pays, so coverage of interest payments is not a concern.
Balance Sheet
Next Steps
Dividend
What is Singapore Exchange current dividend yield, its reliability and sustainability?
3.24%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: S68's dividend (3.24%) is higher than the bottom 25% of dividend payers in the SG market (2.15%).
High Dividend: S68's dividend (3.24%) is low compared to the top 25% of dividend payers in the SG market (5.09%).
Stability and Growth of Payments
Stable Dividend: S68's dividends per share have been stable in the past 10 years.
Growing Dividend: S68's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (69.2%), S68's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: S68's dividends in 3 years are forecast to be covered by earnings (78.8% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
5.5yrs
Average management tenure
CEO
Boon Chye Loh (56 yo)
5.5yrs
Tenure
S$4,880,212
Compensation
Mr. Loh Boon Chye has been the Chief Executive Officer of Singapore Exchange Limited since July 14, 2015. Mr. Loh served as the Deputy President of The Asia-Pacific Region and Head of Global Markets for As...
CEO Compensation Analysis
Compensation vs Market: Boon Chye's total compensation ($USD3.68M) is about average for companies of similar size in the SG market ($USD3.18M).
Compensation vs Earnings: Boon Chye's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO and Executive & Non-Independent Director | 5.5yrs | S$4.88m | 0.043% SGD 4.6m | |
| Head of Global Sales & Senior MD | 1.58yrs | S$1.49m | no data | |
| Head of Equities & Senior MD | 9.83yrs | S$1.47m | no data | |
| Chief Executive Officer of Singapore Exchange Regulation | 5.58yrs | S$1.49m | no data | |
| Head of Fixed Income | 1.42yrs | S$2.39m | no data | |
| Chief Financial Officer | 0.25yr | no data | 0.000010% SGD 1.1k | |
| Chief Technology Officer | 6yrs | no data | no data | |
| Head of Investor Relations | no data | no data | no data | |
| Head of Legal & Compliance and Joint Company Secretary | 5yrs | no data | no data | |
| Vice President of Marketing & Communications | no data | no data | no data | |
| Head of Human Resources & Senior MD | 9.08yrs | no data | no data | |
| Head Capital Market Development | 9.58yrs | no data | no data |
5.5yrs
Average Tenure
52yo
Average Age
Experienced Management: S68's management team is seasoned and experienced (5.5 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO and Executive & Non-Independent Director | 5.5yrs | S$4.88m | 0.043% SGD 4.6m | |
| Non-Executive & Independent Director | 2.33yrs | S$100.00k | 0.00040% SGD 42.6k | |
| Non-Executive & Independent Director | 7.08yrs | S$125.00k | 0.00064% SGD 68.2k | |
| Non-Executive & Independent Director | 3.33yrs | S$169.67k | 0.0039% SGD 416.4k | |
| Non-Executive & Non-Independent Director | 5.08yrs | S$130.00k | no data | |
| Non-Executive & Independent Director | 0.33yr | no data | no data | |
| Non-Executive & Independent Director | 8.33yrs | S$195.00k | 0.0091% SGD 963.9k | |
| Non-Executive Independent Chairman | 4.33yrs | S$1.01m | 0.0098% SGD 1.0m | |
| Independent Non-Executive Director | 0.92yr | S$47.71k | no data | |
| Non-Executive & Independent Director | 9.5yrs | S$155.00k | 0.00064% SGD 68.2k | |
| Non-Executive & Independent Director | 2.33yrs | S$100.00k | 0.00040% SGD 42.6k |
4.3yrs
Average Tenure
60yo
Average Age
Experienced Board: S68's board of directors are considered experienced (4.3 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Singapore Exchange Limited's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Singapore Exchange Limited
- Ticker: S68
- Exchange: SGX
- Founded: 1999
- Industry: Financial Exchanges and Data
- Sector: Diversified Financials
- Market Cap: S$10.650b
- Shares outstanding: 1.07b
- Website: https://www.sgx.com
Number of Employees
Location
- Singapore Exchange Limited
- No. 02-02, SGX Centre 1
- 2 Shenton Way
- Singapore
- 68804
- Singapore
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| SPXC.F | OTCPK (Pink Sheets LLC) | Yes | Ordinary Shares | US | USD | Nov 2000 |
| S68 | SGX (Singapore Exchange) | Yes | Ordinary Shares | SG | SGD | Nov 2000 |
| SOU | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Nov 2000 |
| SPXC.Y | OTCPK (Pink Sheets LLC) | UNSP ADR EACH REPR 15 ORD | US | USD | Nov 2008 | |
| SOUU | DB (Deutsche Boerse AG) | UNSP ADR EACH REPR 15 ORD | DE | EUR | Nov 2008 |
Biography
Singapore Exchange Limited, together with its subsidiaries, operates an integrated securities exchange and derivatives exchange, and related clearing houses in Singapore. The company’s Fixed Income, Curre...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/01/15 11:10 |
| End of Day Share Price | 2021/01/15 00:00 |
| Earnings | 2020/06/30 |
| Annual Earnings | 2020/06/30 |
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 here.