(C6L) Singapore Airlines - SG
Sector: Industrials | Industry: Airlines | Exchange: SG (Singapore) | Market Cap: 22.592m SGD | Total Return: 11% in 12m
Avg Turnover: 57.0M
Warnings
Choppy
Tailwinds
No distinct edge detected
Singapore Airlines Limited (C6L) is a global aviation group operating a dual-brand strategy through its flagship full-service carrier, Singapore Airlines, and its low-cost subsidiary, Scoot. The company maintains a diversified business model that extends beyond passenger and cargo transportation to include comprehensive aerospace engineering, maintenance, repair, and overhaul (MRO) services, and pilot training. This vertical integration allows the group to capture value across the entire aviation lifecycle, from technical fleet management to retail and lifestyle reward platforms.
The airline industry is characterized by high capital intensity and sensitivity to fuel price volatility, often leading carriers to hedge energy costs to protect margins. As a major international hub operator, Singapore Airlines relies on a hub-and-spoke network architecture, utilizing Singapore Changi Airport to connect long-haul traffic across East Asia, Europe, and the Americas. The group’s engineering segment serves both internal requirements and third-party customers, providing a secondary revenue stream that is less cyclical than consumer travel demand.
To better understand the companys valuation and long-term trajectory, you can explore the detailed financial metrics available on ValueRay.
- Passenger yields decline as global airline capacity normalizes post-pandemic
- Elevated fuel prices and labor costs compress operating margins
- Cargo revenue softens amid global trade slowdown and increased bellyhold capacity
- Strategic integration of Air India and Vistara expands South Asia footprint
| Net Income: 1.37b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA -1.15 > 1.0 |
| NWC/Revenue: -1.77% < 20% (prev -8.68%; Δ 6.91% < -1%) |
| CFO/TA 0.12 > 3% & CFO 5.10b > Net Income 1.37b |
| Net Debt (-4.95b) to EBITDA (5.32b): -0.93 < 3 |
| Current Ratio: 0.97 > 1.5 & < 3 |
| Outstanding Shares: last quarter (3.15b) vs 12m ago 5.97% < -2% |
| Gross Margin: 43.88% > 18% (prev 65.97%; Δ -22.09% > 0.5%) |
| Asset Turnover: 58.53% > 50% (prev 68.41%; Δ -9.89% > 0%) |
| Interest Coverage Ratio: 8.76 > 6 (EBIT TTM 2.78b / Interest Expense TTM 317.4m) |
| DSRI: 1.56 (Receivables 1.65b/1.23b, Revenue 25.3b/29.5b) |
| GMI: 1.50 (GM 65.97% / 43.88%) |
| AQI: 0.59 (AQ_t 0.07 / AQ_t-1 0.12) |
| SGI: 0.86 (Revenue 25.3b / 29.5b) |
| TATA: -0.09 (NI 1.37b - CFO 5.10b) / TA 43.4b) |
| Beneish M = -2.46 (Cap -4..+1) = BBB |
As of June 19, 2026, the stock is trading at SGD 7.21 with a total of 8,339,500 shares traded.
Over the past week, the price has changed by +3.74%,
over one month by +12.48%,
over three months by +9.41% and
over the past year by +10.99%.
Singapore Airlines has no consensus analysts rating.
P/E Trailing = 18.8684
P/E Forward = 26.9542
P/S = 1.1009
P/B = 1.2778
P/EG = 12.0192
Revenue TTM = 25.3b SGD
EBIT TTM = 2.78b SGD
EBITDA TTM = 5.32b SGD
Long Term Debt = 5.71b SGD (from longTermDebt, last quarter)
Short Term Debt = 1.96b SGD (from shortLongTermDebt, last quarter)
Debt = 2.98b SGD (Leases only: 2.98b)
Net Debt = -4.95b SGD (calculated: Debt 2.98b - CCE 7.93b)
Enterprise Value = 17.6b SGD (22.6b + Debt 2.98b - CCE 7.93b)
Interest Coverage Ratio = 8.76 (Ebit TTM 2.78b / Interest Expense TTM 317.4m)
EV/FCF = 7.49x (Enterprise Value 17.6b / FCF TTM 2.35b)
FCF Yield = 13.35% (FCF TTM 2.35b / Enterprise Value 17.6b)
FCF Margin = 9.30% (FCF TTM 2.35b / Revenue TTM 25.3b)
Net Margin = 5.41% (Net Income TTM 1.37b / Revenue TTM 25.3b)
Gross Margin = 43.88% ((Revenue TTM 25.3b - Cost of Revenue TTM 14.2b) / Revenue TTM)
Gross Margin QoQ = none% (prev none%)
Tobins Q-Ratio = 0.41 (Enterprise Value 17.6b / Total Assets 43.4b)
Interest Expense / Debt = 10.66% (Interest Expense 317.4m / Debt 2.98b)
Taxrate = 24.39% (394.5m / 1.62b)
NOPAT = 2.10b (EBIT 2.78b * (1 - 24.39%))
Current Ratio = 0.97 (Total Current Assets 13.4b / Total Current Liabilities 13.9b)
Debt / Equity = 0.17 (Debt 2.98b / totalStockholderEquity, last quarter 17.3b)
Debt / EBITDA = -0.93 (Net Debt -4.95b / EBITDA 5.32b)
Debt / FCF = -2.10 (Net Debt -4.95b / FCF TTM 2.35b)
Total Stockholder Equity = 16.1b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.17% (Net Income 1.37b / Total Assets 43.4b)
RoE = 8.51% (Net Income TTM 1.37b / Total Stockholder Equity 16.1b)
RoCE = 12.74% (EBIT 2.78b / Capital Employed (Equity 16.1b + L.T.Debt 5.71b))
RoIC = 7.44% (NOPAT 2.10b / Invested Capital 28.3b)
WACC = 7.48% (E(22.6b)/V(25.6b) * Re(7.40%) + D(2.98b)/V(25.6b) * Rd(10.66%) * (1-Tc(0.24)))
Discount Rate = 7.40% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 76.83 | Cagr: 0.15%
[DCF] Terminal Value 73.10% ; FCFF base≈2.55b ; Y1≈2.23b ; Y5≈1.80b
[DCF] Fair Price = 10.76 (EV 29.0b - Net Debt -4.95b = Equity 33.9b / Shares 3.15b; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: -50.08 | EPS CAGR: -15.17% | SUE: 0.18 | # QB: 0
Revenue Correlation: 37.62 | Revenue CAGR: 3.24% | SUE: 0.23 | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.15 | Chg30d=N/A | Revisions=N/A | Analysts=1
EPS next Quarter (2026-09-30): EPS=0.04 | Chg30d=N/A | Revisions=N/A | Analysts=1
EPS current Year (2027-03-31): EPS=0.30 | Chg30d=-7.23% | Revisions=-9% | GrowthEPS=-20.4% | GrowthRev=+4.9%
EPS next Year (2028-03-31): EPS=0.36 | Chg30d=+0.56% | Revisions=-25% | GrowthEPS=+18.6% | GrowthRev=+1.3%
[Analyst] Revisions Ratio: -25%