SGX:C6L

Stock Analysis Report

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Executive Summary

Singapore Airlines Limited, together with subsidiaries, provides passenger and cargo air transportation services under the Singapore Airlines, SilkAir, and Scoot brands in East Asia, the Americas, Europe, South West Pacific, West Asia, and Africa. More Details


Snowflake Analysis

Moderate growth potential and overvalued.


Similar Companies

Share Price & News

How has Singapore Airlines's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: C6L has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

2.0%

C6L

2.6%

SG Airlines

-0.09%

SG Market


1 Year Return

-60.8%

C6L

-24.1%

SG Airlines

-21.9%

SG Market

Return vs Industry: C6L underperformed the SG Airlines industry which returned -24.1% over the past year.

Return vs Market: C6L underperformed the SG Market which returned -21.9% over the past year.


Shareholder returns

C6LIndustryMarket
7 Day2.0%2.6%-0.09%
30 Day5.6%3.2%2.4%
90 Day-0.8%9.3%-2.0%
1 Year-43.9%-60.8%-19.4%-24.1%-17.6%-21.9%
3 Year-46.5%-65.2%-27.9%-34.4%-20.1%-29.8%
5 Year-45.8%-66.9%-35.4%-43.4%-5.0%-22.3%

Price Volatility Vs. Market

How volatile is Singapore Airlines's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Singapore Airlines undervalued compared to its fair value and its price relative to the market?

0.46x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: C6L (SGD3.58) is trading above our estimate of fair value (SGD0.45)

Significantly Below Fair Value: C6L is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: C6L is unprofitable, so we can't compare its PE Ratio to the XA Airlines industry average.

PE vs Market: C6L is unprofitable, so we can't compare its PE Ratio to the SG market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate C6L's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: C6L is good value based on its PB Ratio (0.5x) compared to the XA Airlines industry average (1x).


Next Steps

Future Growth

How is Singapore Airlines forecast to perform in the next 1 to 3 years based on estimates from 11 analysts?

46.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: C6L is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2.2%).

Earnings vs Market: C6L is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: C6L's is expected to become profitable in the next 3 years.

Revenue vs Market: C6L's revenue (1.3% per year) is forecast to grow slower than the SG market (6.7% per year).

High Growth Revenue: C6L's revenue (1.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: C6L's Return on Equity is forecast to be low in 3 years time (2.7%).


Next Steps

Past Performance

How has Singapore Airlines performed over the past 5 years?

0.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: C6L is currently unprofitable.

Growing Profit Margin: C6L is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: C6L is unprofitable, but has reduced losses over the past 5 years at a rate of 0.1% per year.

Accelerating Growth: Unable to compare C6L's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: C6L is unprofitable, making it difficult to compare its past year earnings growth to the Airlines industry (-57.1%).


Return on Equity

High ROE: C6L has a negative Return on Equity (-1.74%), as it is currently unprofitable.


Next Steps

Financial Health

How is Singapore Airlines's financial position?


Financial Position Analysis

Short Term Liabilities: C6L's short term assets (SGD4.8B) do not cover its short term liabilities (SGD11.0B).

Long Term Liabilities: C6L's short term assets (SGD4.8B) do not cover its long term liabilities (SGD13.0B).


Debt to Equity History and Analysis

Debt Level: C6L's debt to equity ratio (102.3%) is considered high.

Reducing Debt: C6L's debt to equity ratio has increased from 12.7% to 102.3% over the past 5 years.

Debt Coverage: C6L's debt is well covered by operating cash flow (27.5%).

Interest Coverage: C6L is unprofitable, therefore interest payments are not well covered by earnings.


Balance Sheet


Next Steps

Dividend

What is Singapore Airlines's current dividend yield, its reliability and sustainability?

1.12%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate C6L's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate C6L's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if C6L's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if C6L's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: C6L is not paying a notable dividend for the SG market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of C6L's dividend in 3 years as they are not forecast to pay a notable one for the SG market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

6.9yrs

Average management tenure


CEO

Choon Phong Goh (57 yo)

9.75yrs

Tenure

S$4,223,274

Compensation

Mr. Choon Phong Goh has been Non-Executive and Non-Independent Director of SIA Engineering Company Limited since January 1, 2011. Mr. Goh is a Director of Singapore Airlines Ltd., since October 1, 2010 and ...


CEO Compensation Analysis

Compensation vs Market: Choon Phong's total compensation ($USD3.11M) is about average for companies of similar size in the SG market ($USD3.35M).

Compensation vs Earnings: Choon Phong's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Choon Phong Goh
CEO & Non-Independent Executive Director9.75yrsS$4.22m0.10%
SGD 11.0m
Siok Hua Chia
Divisional Vice President of Financeno datano datano data
Siva Govindasamy
Vice President of Public Affairs1.17yrsno datano data
Wee Leng Ng
Senior Vice President of Human Resourcesno datano datano data
Swee Wah Mak
Executive Vice President of Operations9.67yrsno data0.020%
SGD 2.1m
Pee Teck Tan
Senior Vice President of Cabin Crew9.83yrsno datano data
Meng Hung Tan
Senior Vice President of Customer Services & Operations8.08yrsno datano data
Yau Seng Chin
Senior Vice President of Cargo2.5yrsno datano data
Stephen Barnes
Senior Vice President of Finance6.67yrsno datano data
Lik Hsin Lee
Executive Vice President of Commercial0.50yrno data0.0021%
SGD 224.0k
Kai Ping Tan
Executive Vice President of Finance & Strategy7.17yrsno data0.0062%
SGD 654.9k
Wen Fen Lee
Senior Vice President of Corporate Planning6.5yrsno datano data

6.9yrs

Average Tenure

53yo

Average Age

Experienced Management: C6L's management team is seasoned and experienced (6.9 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Choon Phong Goh
CEO & Non-Independent Executive Director9.75yrsS$4.22m0.10%
SGD 11.0m
Lim Huat Seah
Independent Chairman3.75yrsS$800.90k0.0043%
SGD 452.2k
Sae Peng Cheong
Independent Non-Executive Director3.33yrsS$185.02k0.0011%
SGD 117.8k
Kim Shin Lee
Independent Non-Executive Director4.08yrsS$168.21k0.00067%
SGD 71.1k
Gautam Banerjee
Independent Non-Executive Director7.75yrsS$218.23k0.0012%
SGD 130.6k
Chiu Ho
Independent Non-Executive Director3.42yrsS$269.58k0.0011%
SGD 114.6k
Tsun-Yan Hsieh
Independent Non-Executive Director8.08yrsS$193.38k0.0011%
SGD 113.6k
David John Gledhill
Independent Non-Executive Director2.08yrsS$205.46k0.00069%
SGD 73.2k
Swee Chen Goh
Independent Non-Executive Director1.75yrsS$183.96k0.00063%
SGD 66.9k

3.8yrs

Average Tenure

63yo

Average Age

Experienced Board: C6L's board of directors are considered experienced (3.8 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 been substantially diluted in the past year, with total shares outstanding growing by 150.2%.


Top Shareholders

Company Information

Singapore Airlines Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Singapore Airlines Limited
  • Ticker: C6L
  • Exchange: SGX
  • Founded: 1947
  • Industry: Airlines
  • Sector: Transportation
  • Market Cap: S$10.615b
  • Shares outstanding: 2.96b
  • Website: https://www.singaporeair.com

Number of Employees


Location

  • Singapore Airlines Limited
  • Airline House
  • 25 Airline Road
  • Singapore
  • 819829
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
C6LSGX (Singapore Exchange)YesOrdinary SharesSGSGDJan 1992
SIA1DB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992
SING.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992
SING.YOTCPK (Pink Sheets LLC)ADRUSUSDDec 2008

Biography

Singapore Airlines Limited, together with subsidiaries, provides passenger and cargo air transportation services under the Singapore Airlines, SilkAir, and Scoot brands in East Asia, the Americas, Europe, ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/25 12:41
End of Day Share Price2020/10/23 00:00
Earnings2020/03/31
Annual Earnings2020/03/31


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.