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SBS Transit Ltd
(SGX:S61)
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Rating:72Outperform
Price Target:
S$4.00
â–²(5.26% Upside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by strong financial resilience (especially the very low-leverage balance sheet) and an attractive dividend yield. These positives are partly offset by a mature earnings profile with some margin pressure and weaker near-term technical momentum.
Positive Factors
Very low leverage
Minimal leverage reduces interest burden and refinancing exposure, preserving financial flexibility through changing operating conditions. The strong equity base gives SBS Transit capacity to maintain services, fund needs, and absorb volatility without relying heavily on debt.
Negative Factors
Mature revenue profile
Limited top-line expansion suggests SBS Transit is operating in a mature market where future growth may depend more on service packages, ridership, and operating execution than rapid demand gains. This constrains the pace at which earnings capacity can compound.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage
Minimal leverage reduces interest burden and refinancing exposure, preserving financial flexibility through changing operating conditions. The strong equity base gives SBS Transit capacity to maintain services, fund needs, and absorb volatility without relying heavily on debt.
Read all positive factors
SBS Transit Ltd (S61) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$1.18B
Dividend Yield4.55%
Average Volume (3M)148.42K
Price to Earnings (P/E)19.3
Beta (1Y)0.33
Revenue Growth2.15%
EPS Growth-12.28%
CountrySG
Employees9,627
SectorIndustrials
Sector Strength72
IndustryRailroads
Share Statistics
EPS (TTM)0.19
Shares Outstanding313,134,520
10 Day Avg. Volume115,590
30 Day Avg. Volume148,419
Financial Highlights & Ratios
PEG Ratio-1.23
Price to Book (P/B)1.47
Price to Sales (P/S)0.66
P/FCF Ratio9.01
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.18
Revenue Forecast (FY)S$1.51B
SBS Transit Ltd Business Overview & Revenue Model
Company Description
SBS Transit Ltd, established in Singapore in 1973, is a major public transportation provider in the island nation, operating primarily through its Public Transport Services and Other Commercial Services divisions. The company runs scheduled bus se...
How the Company Makes Money
SBS Transit makes money mainly from operating public transport services (bus and rail) under Singapore’s regulatory framework, where revenue is tied to service operations rather than fully market-priced fares.
Key revenue streams include:
1) Publ...
SBS Transit Ltd Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
86
Very Positive
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.54B | 1.52B | 1.56B | 1.53B | 1.52B | 1.31B |
| Gross Profit | -280.98M | 268.26M | 198.93M | 169.19M | 163.32M | 179.78M |
| EBITDA | 146.05M | 150.63M | 171.39M | 183.85M | 186.01M | 159.19M |
| Net Income | 60.85M | 61.20M | 70.30M | 69.08M | 68.02M | 51.63M |
Balance Sheet | ||||||
| Total Assets | 1.17B | 1.09B | 1.16B | 1.17B | 1.21B | 1.15B |
| Cash, Cash Equivalents and Short-Term Investments | 476.42M | 384.32M | 384.99M | 371.96M | 345.30M | 204.03M |
| Total Debt | 0.00 | 11.74M | 17.71M | 19.31M | 79.12M | 91.61M |
| Total Liabilities | 471.35M | 410.42M | 441.19M | 490.11M | 566.90M | 552.22M |
| Stockholders Equity | 699.10M | 681.86M | 719.47M | 682.08M | 644.29M | 601.57M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 111.00M | 21.50M | 59.21M | 171.88M | 191.24M |
| Operating Cash Flow | 0.00 | 135.28M | 41.85M | 74.87M | 182.57M | 224.34M |
| Investing Cash Flow | 0.00 | -23.84M | 18.08M | -2.78M | -6.27M | -32.54M |
| Financing Cash Flow | 0.00 | -112.10M | -46.91M | -45.44M | -35.03M | -73.33M |
SBS Transit Ltd Technical Analysis
Positive
3.80
Price Trends
3.53
Positive
3.46
Positive
3.19
Positive
Market Momentum
0.08
Positive
67.02
Neutral
40.95
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:S61, the sentiment is Positive. The current price of 3.8 is above the 20-day moving average (MA) of 3.67, above the 50-day MA of 3.53, and above the 200-day MA of 3.19, indicating a bullish trend. The MACD of 0.08 indicates Positive momentum. The RSI at 67.02 is Neutral, neither overbought nor oversold. The STOCH value of 40.95 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:S61.
SBS Transit Ltd Peers Comparison
UnderperformOutperform
Sector (63)
SG:S61
SBS Transit Ltd
3.76
1.06
39.10%
SG:C52
Comfortdelgro
1.28
-0.09
-6.77%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.