Valuation Singapore Airlines Limited

Equities

Market Closed - Singapore S.E. Other stock markets 09:08:36 13/02/2026 GMT			5-day change	1st Jan Change
6.960 ^SGD	+0.87%		+3.88%	+8.75%

02-13	India fines Air India $110,350 in Airbus incident, says lapse eroded public confidence	RE
02-11	Citi Research Adjusts Singapore Airlines' Price Target to SG$6.38 from SG$5.98, Keeps at Sell	MT

Data adjusted to current consolidation scope

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Capitalization ¹	23,696	35,453	36,954	26,484	20,189	21,897	-	-
Change	-	49.62%	4.23%	-28.33%	-23.77%	8.46%	-	-
Enterprise Value (EV) ¹	30,250	37,386	35,965	28,663	24,846	27,624	28,569	29,095
Change	-	23.59%	-3.8%	-20.3%	-13.32%	11.18%	3.42%	1.84%
P/E ratio	-4.8x	-34x	16.3x	10.4x	7.96x	24.8x	19.3x	18.9x
PBR	1.04x	0.73x	0.86x	1.17x	1.29x	1.37x	1.34x	1.31x
PEG	-	0.4x	-0x	0.1x	0.2x	-0.4x	0.7x	8.3x
Capitalization / Revenue	6.21x	4.66x	2.08x	1.39x	1.03x	1.12x	1.1x	1.06x
EV / Revenue	7.93x	4.91x	2.02x	1.51x	1.27x	1.42x	1.43x	1.41x
EV / EBITDA	-81.6x	28.7x	7x	5.08x	6.07x	6.79x	6.77x	6.79x
EV / EBIT	-12x	-61.3x	13.4x	10.5x	14.5x	16.8x	17.4x	18.8x
EV / FCF	-5.05x	-5,192x	4.78x	7.5x	8.45x	30.8x	-61.6x	5,819x
FCF Yield	-19.8%	-0.02%	20.9%	13.3%	11.8%	3.25%	-1.62%	0.02%
Dividend per Share ²	-	-	0.38	0.48	0.4	0.2126	0.2313	0.2457
Rate of return	-	-	6.63%	7.5%	5.89%	3.05%	3.32%	3.53%
EPS ²	-1.156	-0.162	0.351	0.614	0.853	0.281	0.3601	0.3683
Distribution rate	-	-	108%	78.2%	46.9%	75.7%	64.2%	66.7%
Net sales ¹	3,816	7,615	17,775	19,013	19,540	19,507	19,987	20,596
EBITDA ¹	-370.8	1,301	5,137	5,648	4,090	4,069	4,221	4,288
EBIT ¹	-2,512	-609.7	2,692	2,728	1,709	1,642	1,641	1,547
Net income ¹	-4,271	-962	2,157	2,675	2,778	879	1,097	1,088
Net Debt ¹	6,554	1,932	-988.3	2,179	4,657	5,727	6,672	7,198
Reference price ²	5.550	5.500	5.730	6.400	6.790	6.960	6.960	6.960
Nbr of stocks (in thousands)	4,269,600	6,446,082	6,449,164	4,138,150	2,973,273	3,146,132	-	-
Announcement Date	19/05/21	18/05/22	16/05/23	15/05/24	15/05/25	-	-	-

¹SGD in Million²SGD

Estimates

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (Y)	EV / Sales (Y)	EV / EBITDA (Y)	Dividend Yield (Y)	Capi.($)
SINGAPORE AIRLINES LIMITED	24.77x	1.42x	6.79x	3.05%	17.34B
DELTA AIR LINES, INC.	9.4x	0.89x	5.99x	1.11%	44.82B
UNITED AIRLINES HOLDINGS, INC.	8.25x	0.84x	5.69x	-.--%	35.35B
RYANAIR HOLDINGS PLC	12.94x	1.68x	6.88x	1.74%	33.38B
INTERNATIONAL CONSOLIDATED AIRLINES GROUP, S.A.	7.35x	0.89x	3.92x	2.14%	27B
INTERGLOBE AVIATION LIMITED	62.59x	2.52x	12.27x	0.2%	21.04B
AIR CHINA LIMITED	1833.85x	1.91x	9.85x	-.--%	19.99B
CHINA SOUTHERN AIRLINES COMPANY LIMITED	111.78x	1.91x	9.14x	0.07%	18.53B
CHINA EASTERN AIRLINES CORPORATION LIMITED	139.27x	2.18x	10.01x	-.--%	18.49B
LATAM AIRLINES GROUP S.A.	11.14x	1.41x	4.96x	2.97%	17.01B
Average	222.13x	1.56x	7.55x	1.13%	25.3B
Weighted average by Cap.	176.28x	1.44x	7.18x	1.08%