Singapore Exchange (S68) Stock Overview
An investment holding, engages in the operation of integrated securities and derivatives exchange, related clearing houses, and an electricity market in Singapore. More details
| Snowflake Score | |
|---|---|
| Valuation | 0/6 |
| Future Growth | 4/6 |
| Past Performance | 3/6 |
| Financial Health | 6/6 |
| Dividends | 5/6 |
Rewards
Risk Analysis
No risks detected for S68 from our risk checks.
S68 Community Fair Values
Create NarrativeSee what 60 others think this stock is worth. Follow their fair value or set your own to get alerts.
Analyst Price Targets
Singapore Exchange Limited Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | S$21.88 |
| 52 Week High | S$22.50 |
| 52 Week Low | S$13.69 |
| Beta | 0.24 |
| 1 Month Change | 2.77% |
| 3 Month Change | 20.22% |
| 1 Year Change | 56.06% |
| 3 Year Change | 133.26% |
| 5 Year Change | 110.99% |
| Change since IPO | 1,532.84% |
Recent News & Updates
Narrative Update • May 05
S68: New Bond Futures And Buybacks Will Support Balanced Returns Ahead
Analysts have raised the SGD fair value estimate for Singapore Exchange to about SGD20.30 from around SGD19.96, citing updated assumptions for the discount rate, revenue growth, profit margin, and future P/E, which together support a slightly higher price target. What's in the News SGX Derivatives plans to launch Asia Pacific Government Bond Futures on 20 April, giving investors a way to manage sovereign interest rate risk across India, Indonesia, Malaysia, Thailand and the Philippines through exchange listed contracts settled in US$, with 3-year, 5-year and 10-year maturities based on FTSE Russell’s Asia Pacific Liquid Government Bond Index Series (Key Developments).Narrative Update • Apr 20
S68: New Bond Futures And Buybacks Will Support Balanced Returns Ahead
Analysts have adjusted their price target for Singapore Exchange to SGD19.96 from SGD17.51, linking this change to updated assumptions for revenue growth, profit margins, discount rate, and future P/E multiples in their valuation models. What's in the News SGX Derivatives plans to launch Asia Pacific Government Bond Futures on 20 April, offering contracts on baskets of government bonds from India, Indonesia, Malaysia, Thailand and the Philippines, referenced to FTSE Russell’s Asia Pacific Liquid Government Bond Index Series (Key Developments).
Narrative Update • Apr 06
S68: New Bond Futures And Buybacks Will Support Stable Future Earnings
Analysts now set their SGD price target for Singapore Exchange at SGD 22.00, up slightly from SGD 21.80. This reflects small model adjustments to fair value, discount rate assumptions, revenue growth and profit margin forecasts, along with a modestly higher future P/E multiple.Narrative Update • Mar 23
S68: Share Repurchases And Higher Margins Will Support Future Earnings
Analysts have raised their price target on Singapore Exchange from SGD19.20 to SGD21.80, reflecting updated assumptions for the discount rate, revenue growth, profit margin and future P/E expectations. What's in the News Singapore Exchange Limited began share repurchases on February 26, 2026, under a shareholder-mandated program from the October 9, 2025 AGM, allowing buybacks of up to 107,164,240 shares, equal to 10% of issued ordinary share capital (Key Developments).Recent updates
Narrative Update • May 05
S68: New Bond Futures And Buybacks Will Support Balanced Returns Ahead
Analysts have raised the SGD fair value estimate for Singapore Exchange to about SGD20.30 from around SGD19.96, citing updated assumptions for the discount rate, revenue growth, profit margin, and future P/E, which together support a slightly higher price target. What's in the News SGX Derivatives plans to launch Asia Pacific Government Bond Futures on 20 April, giving investors a way to manage sovereign interest rate risk across India, Indonesia, Malaysia, Thailand and the Philippines through exchange listed contracts settled in US$, with 3-year, 5-year and 10-year maturities based on FTSE Russell’s Asia Pacific Liquid Government Bond Index Series (Key Developments).Narrative Update • Apr 20
S68: New Bond Futures And Buybacks Will Support Balanced Returns Ahead
Analysts have adjusted their price target for Singapore Exchange to SGD19.96 from SGD17.51, linking this change to updated assumptions for revenue growth, profit margins, discount rate, and future P/E multiples in their valuation models. What's in the News SGX Derivatives plans to launch Asia Pacific Government Bond Futures on 20 April, offering contracts on baskets of government bonds from India, Indonesia, Malaysia, Thailand and the Philippines, referenced to FTSE Russell’s Asia Pacific Liquid Government Bond Index Series (Key Developments).Narrative Update • Apr 06
S68: New Bond Futures And Buybacks Will Support Stable Future Earnings
Analysts now set their SGD price target for Singapore Exchange at SGD 22.00, up slightly from SGD 21.80. This reflects small model adjustments to fair value, discount rate assumptions, revenue growth and profit margin forecasts, along with a modestly higher future P/E multiple.Narrative Update • Mar 23
S68: Share Repurchases And Higher Margins Will Support Future Earnings
Analysts have raised their price target on Singapore Exchange from SGD19.20 to SGD21.80, reflecting updated assumptions for the discount rate, revenue growth, profit margin and future P/E expectations. What's in the News Singapore Exchange Limited began share repurchases on February 26, 2026, under a shareholder-mandated program from the October 9, 2025 AGM, allowing buybacks of up to 107,164,240 shares, equal to 10% of issued ordinary share capital (Key Developments).
Narrative Update • Mar 08
S68: Elevated P/E Will Persist Despite Minor Discount Rate Adjustment
Analysts have inched their price target for Singapore Exchange slightly lower to SGD14.82 from SGD14.84, reflecting updated assumptions around the discount rate, revenue growth, profit margin and future P/E that are broadly consistent with their prior view. Valuation Changes Fair Value: decreased from SGD14.84 to SGD14.82, a slight reduction in the modelled estimate.Narrative Update • Feb 22
S68: Rich P/E Will Persist Despite Slightly Higher Margin Assumptions
Analysts have adjusted their price target for Singapore Exchange from SGD14.70 to SGD14.84, citing updated assumptions for revenue growth, profit margins, and a slightly lower future P/E multiple as key drivers of the change. Valuation Changes Fair Value: Revised from SGD14.70 to SGD14.84, indicating a small uplift in the estimated intrinsic value per share.Analysis Article • Feb 09
Singapore Exchange (SGX:S68) Is Increasing Its Dividend To SGD0.11
Singapore Exchange Limited ( SGX:S68 ) will increase its dividend from last year's comparable payment on the 24th of...Analysis Article • Feb 08
Singapore Exchange Limited Just Missed Earnings - But Analysts Have Updated Their Models
Last week saw the newest half-year earnings release from Singapore Exchange Limited ( SGX:S68 ), an important milestone...Narrative Update • Feb 08
S68: Crypto Futures And Index Expansion Will Not Justify Rich P/E
Analysts have lifted their fair value estimate for Singapore Exchange from $11.72 to $14.70, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E expectations. What's in the News SGX Derivatives plans to launch Bitcoin and Ethereum perpetual futures on 24 November 2025, offering institutional, accredited and expert investors access to these contracts within a regulated, exchange-cleared framework (Key Developments).Narrative Update • Jan 23
S68: New Trading Engine And Indices Will Support Balanced Returns Ahead
Analysts have lifted their price target for Singapore Exchange by about S$0.63 to S$17.51, citing refreshed assumptions on fair value, discount rate, revenue growth, profit margins and future P/E that tweak their valuation higher. What's in the News SGX Derivatives plans to launch Bitcoin and Ethereum perpetual futures on 24 November 2025, offering institutional, accredited and expert investors access to crypto perpetual futures within a regulated, exchange cleared framework benchmarked to iEdge CoinDesk Crypto Indices (Key Developments).Narrative Update • Jan 09
S68: New Trading Engine And Products Will Shape Balanced Returns Ahead
Analysts have nudged their price target for Singapore Exchange slightly higher to S$16.88 from S$16.74, reflecting updated assumptions around the discount rate, revenue growth, profit margin and future P/E that they see as better aligned with the stock’s current risk and earnings profile. What's in the News SGX Derivatives plans to launch Bitcoin and Ethereum perpetual futures on 24 November 2025, offering institutional, accredited and expert investors access to crypto perpetual contracts within a regulated, exchange cleared framework, benchmarked to iEdge CoinDesk Crypto Indices (Product related announcement).Narrative Update • Dec 21
S68: Crypto Derivatives Launch And New Indices Will Support Earnings
Analysts have raised their price target on Singapore Exchange by approximately S$1.00, reflecting expectations of slightly lower discount rates, modestly softer revenue growth, improved profit margins, and a marginally cheaper forward earnings multiple. What's in the News SGX Derivatives will launch Bitcoin and Ethereum perpetual futures on 24 November 2025, offering institutional grade, regulated access to crypto perpetual contracts benchmarked to iEdge CoinDesk Crypto Indices (Key Developments).Analysis Article • Dec 08
Singapore Exchange Limited's (SGX:S68) Shareholders Might Be Looking For Exit
Singapore Exchange Limited's ( SGX:S68 ) price-to-earnings (or "P/E") ratio of 27.7x might make it look like a strong...Narrative Update • Dec 07
S68: Equity Market Flows And Execution Will Shape Balanced Returns Ahead
Analysts have modestly raised their fair value estimate for Singapore Exchange to about S$16.74 from S$16.43, reflecting slightly stronger assumptions for revenue growth, profitability, and earnings multiples following recent research that highlights improving equity market flows. Analyst Commentary Recent research has highlighted a more balanced outlook for Singapore Exchange, with the latest move seeing the stock upgraded to Neutral from Underweight and the price target lifted to S$16 from S$14.Narrative Update • Nov 22
S68: Market Flows And Execution Efforts Will Drive Steady Performance Ahead
Singapore Exchange Price Target Raised Amid Upgraded Analyst Outlook Analysts have modestly increased their price target for Singapore Exchange, raising it from S$16.45 to S$16.43. Slight improvements in equity market flows and revenue growth expectations support a more neutral outlook.Narrative Update • Nov 07
S68: Profit Margins And Market Flows Expected To Support Stability
Analysts have increased their price target for Singapore Exchange to S$16.45 from S$16.40, citing stronger profit margins and improved equity market flows as key factors supporting the upward revision. Analyst Commentary Bullish Takeaways Bullish analysts point to improved equity market flows as a key factor driving upward revisions in price targets and overall sentiment.Analysis Article • Nov 02
Singapore Exchange (SGX:S68) Has Announced That It Will Be Increasing Its Dividend To SGD0.1075
Singapore Exchange Limited ( SGX:S68 ) has announced that it will be increasing its dividend from last year's...Narrative Update • Oct 24
Asia Equity Markets Will See Rising Activity And Expanded Regional Connectivity
Analysts have raised their price target for Singapore Exchange from S$16.12 to S$16.40. This reflects optimism around the company's initiatives to bolster equity market activity.Analysis Article • Oct 14
Singapore Exchange (SGX:S68) Is Increasing Its Dividend To SGD0.105
Singapore Exchange Limited ( SGX:S68 ) will increase its dividend from last year's comparable payment on the 27th of...Narrative Update • Oct 10
Global Capital Flows And Multi-Asset Focus Will Expand Asia Trading
Analysts have raised their price target for Singapore Exchange from S$15.94 to S$16.12, citing strengthened equity market flows and incremental improvements in profitability metrics as key factors supporting the revision. Analyst Commentary Recent commentary from JPMorgan has highlighted both opportunities and ongoing risks for Singapore Exchange in light of its recent upgrade and revised price target.Analysis Article • Sep 30
Singapore Exchange's (SGX:S68) Upcoming Dividend Will Be Larger Than Last Year's
The board of Singapore Exchange Limited ( SGX:S68 ) has announced that it will be paying its dividend of SGD0.105 on...Narrative Update • Sep 19
Global Capital Flows And Multi-Asset Focus Will Expand Asia Trading
Singapore Exchange’s consensus price target has increased to SGD15.94, as analysts cite improved equity market flows, enhanced trading volumes, and expectations of structural operational improvements, despite reduced concerns over previous headwinds. Analyst Commentary Upgraded outlook due to company efforts to improve equity market flows.Analysis Article • Sep 08
Does Singapore Exchange (SGX:S68) Deserve A Spot On Your Watchlist?
The excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even...Narrative Update • Sep 04
Global Capital Flows And Multi-Asset Focus Will Expand Asia Trading
With the consensus analyst price target and key metrics such as future P/E and discount rate remaining virtually unchanged, there is no substantive shift in analysts’ valuation outlook for Singapore Exchange, with fair value steady at SGD15.52. What's in the News Singapore Exchange plans to pursue bolt-on acquisitions to complement or expand its business, supporting its next stage of growth.Analysis Article • Aug 11
S$15.52 - That's What Analysts Think Singapore Exchange Limited (SGX:S68) Is Worth After These Results
Singapore Exchange Limited ( SGX:S68 ) came out with its yearly results last week, and we wanted to see how the...Analysis Article • Jun 01
Singapore Exchange Limited's (SGX:S68) Price Is Out Of Tune With Earnings
Singapore Exchange Limited's ( SGX:S68 ) price-to-earnings (or "P/E") ratio of 22.8x might make it look like a strong...
New Narrative • Feb 09
Expanded Platforms And Offerings Will Attract More Clients In Future
Expansion of SGX's OTC FX platform and modern trading initiatives are set to boost revenue growth and diversify income streams.Shareholder Returns
| S68 | SG Capital Markets | SG Market | |
|---|---|---|---|
| 7D | -2.3% | -3.5% | -1.4% |
| 1Y | 56.1% | 40.5% | 26.7% |
Return vs Industry: S68 exceeded the SG Capital Markets industry which returned 40.5% over the past year.
Return vs Market: S68 exceeded the SG Market which returned 26.7% over the past year.
Price Volatility
| S68 volatility | |
|---|---|
| S68 Average Weekly Movement | 3.3% |
| Capital Markets Industry Average Movement | 6.0% |
| Market Average Movement | 6.2% |
| 10% most volatile stocks in SG Market | 14.4% |
| 10% least volatile stocks in SG Market | 2.8% |
Stable Share Price: S68 has not had significant price volatility in the past 3 months compared to the SG market.
Volatility Over Time: S68's weekly volatility (3%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1999 | 1,167 | Boon Chye Loh | www.sgx.com |
Singapore Exchange Limited, an investment holding, engages in the operation of integrated securities and derivatives exchange, related clearing houses, and an electricity market in Singapore. It operates through Fixed Income, Currencies and Commodities; Equities – Cash; Equities – Derivatives; and Platform and Others segments. The company offers treasury management; management and administrative services to related corporations; market data and technology connectivity services; fixed income issuer, derivatives and securities trading, clearing, securities settlement, and collateral and depository management services.
Singapore Exchange Limited Fundamentals Summary
| S68 fundamental statistics | |
|---|---|
| Market cap | S$23.41b |
| Earnings (TTM) | S$650.70m |
| Revenue (TTM) | S$1.42b |
36.0x
P/E Ratio16.4x
P/S RatioIs S68 overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| S68 income statement (TTM) | |
|---|---|
| Revenue | S$1.42b |
| Cost of Revenue | S$77.37m |
| Gross Profit | S$1.35b |
| Other Expenses | S$696.50m |
| Earnings | S$650.70m |
Last Reported Earnings
Dec 31, 2025
Next Earnings Date
n/a
| Earnings per share (EPS) | 0.61 |
| Gross Margin | 94.57% |
| Net Profit Margin | 45.68% |
| Debt/Equity Ratio | 27.4% |
How did S68 perform over the long term?
See historical performance and comparisonDividends
2.0%
Current Dividend Yield68%
Payout RatioCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/29 22:46 |
| End of Day Share Price | 2026/05/29 00:00 |
| Earnings | 2025/12/31 |
| 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 |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* 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 40 analysts. 14 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 |
|---|---|
| Sukriti Bansal | BofA Global Research |
| Wen Ning Chionh | BofA Global Research |
| Anand Swaminathan | BofA Global Research |