Singapore Exchange Past Earnings Performance

Past criteria checks 4/6

Singapore Exchange has been growing earnings at an average annual rate of 8.5%, while the Capital Markets industry saw earnings declining at 2.4% annually. Revenues have been growing at an average rate of 5.4% per year. Singapore Exchange's return on equity is 29.5%, and it has net margins of 47.3%.

Key information

8.50%

Earnings growth rate

8.51%

EPS growth rate

Capital Markets Industry Growth	11.81%
Revenue growth rate	5.41%
Return on equity	29.46%
Net Margin	47.28%
Last Earnings Update	30 Jun 2025

Recent past performance updates

No updates

Recent updates

Revenue & Expenses Breakdown

How Singapore Exchange makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

SET:SGX19 Revenue, expenses and earnings (SGD Millions)
Date	Revenue	Earnings	G+A Expenses
30 Jun 25	1,371	648	432
31 Mar 25	1,346	652	430
31 Dec 24	1,322	656	429
30 Sep 24	1,277	627	425
30 Jun 24	1,232	598	420
31 Mar 24	1,223	583	416
31 Dec 23	1,215	568	413
30 Sep 23	1,205	569	407
30 Jun 23	1,194	571	401
31 Mar 23	1,172	544	392
31 Dec 22	1,149	517	382
30 Sep 22	1,124	484	374
30 Jun 22	1,099	451	366
31 Mar 22	1,078	438	366
31 Dec 21	1,057	424	365
30 Sep 21	1,056	435	359
30 Jun 21	1,056	445	352
31 Mar 21	1,067	464	346
31 Dec 20	1,095	498	331
30 Sep 20	1,066	477	325
30 Jun 20	1,053	472	319
31 Mar 20	1,022	455	376
31 Dec 19	955	417	310
30 Sep 19	949	414	375
30 Jun 19	910	391	314
31 Mar 19	875	371	322
31 Dec 18	868	372	331
30 Sep 18	849	364	339
30 Jun 18	845	363	349
31 Mar 18	839	365	341
31 Dec 17	820	347	338
30 Sep 17	814	347	334
30 Jun 17	801	340	329
31 Mar 17	791	331	327
31 Dec 16	794	337	328
30 Sep 16	789	333	326
30 Jun 16	818	349	331
31 Mar 16	835	368	328
31 Dec 15	829	367	323
30 Sep 15	829	370	321
30 Jun 15	779	349	310
31 Mar 15	736	330	301
31 Dec 14	702	317	289

Quality Earnings: SGX19 has high quality earnings.

Growing Profit Margin: SGX19's current net profit margins (47.3%) are lower than last year (48.5%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: SGX19's earnings have grown by 8.5% per year over the past 5 years.

Accelerating Growth: SGX19's earnings growth over the past year (8.4%) is below its 5-year average (8.5% per year).

Earnings vs Industry: SGX19 earnings growth over the past year (8.4%) exceeded the Capital Markets industry -20.5%.

Return on Equity

High ROE: SGX19's Return on Equity (29.5%) is considered high.

Return on Assets

Return on Capital Employed

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Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/11/07 13:52
End of Day Share Price	2025/11/07 00:00
Earnings	2025/06/30
Annual Earnings	2025/06/30

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.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* 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 Exchange Limited is covered by 36 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.

Analyst	Institution
Anand Swaminathan	BofA Global Research
David Mak	CGS International
Wee Kuang Tay	CGS International