Singapore Exchange stock analysis
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Singapore Exchange (SPXCY) Stock Price & Analysis
SPXCY Stock Chart & Stats
- Day’s Range
- $32.18 - $32.18
- 52-Week Range
- $25.09 - $40.20
- Previous Close
- $31.96
- Volume
- N/A
- Average Volume (3M)
- 34.21K
- Market Cap
- $17.24B
- Enterprise Value
- $18.82B
- Total Cash (Recent Filing)
- $2.24B
- Total Debt (Recent Filing)
- $675.27M
- Price to Earnings (P/E)
- 31.6
- Beta
- 0.31
- Next Earnings
- Feb 11, 2027 (Est.)
- EPS Estimate
- N/A
- Next Dividend Ex-Date
- Nov 16, 2026
- Dividend Yield
- 2.24%
Bulls Say, Bears Say
Bulls Say
Accelerating Growth And Profitability
Accelerating revenue growth alongside a net margin near 45% indicates strong operating economics and continued demand for SGX’s market infrastructure and related services. This profitability provides resources to maintain platforms, support innovation, and reinforce the exchange’s position over the next several quarters.
Conservative Balance Sheet
Lower leverage and steadily growing equity give SGX substantial financial flexibility relative to its operating needs. A conservative balance sheet can support investment in infrastructure and services, absorb periods of weaker activity, and reduce the constraints that debt places on long-term capital allocation.
Strong Cash Generation
Free cash flow that closely tracks net income supports the quality of SGX’s reported earnings and gives the company internally generated funding. Improving operating and free cash flow strengthens its ability to invest, maintain market infrastructure, and return capital without relying heavily on external financing.
Bears Say
Moderating Margins
The 2026 margin decline shows that faster revenue growth did not translate fully into incremental profitability, pointing to some cost pressure. If this trend persists, it could limit earnings growth, reduce operating leverage, and make future profitability improvements harder to achieve.
Cash Conversion Variability
Although recent free cash flow conversion is strong, earlier variability between operating cash flow and net income indicates that reported earnings may not convert into cash evenly each year. Recurring timing or working-capital swings could complicate investment planning and reduce predictability of available cash.
Market-activity Sensitivity
SGX’s diversified exchange model still depends on participants using its trading, clearing, listing, settlement, and data services. Sustained weakness in market activity, derivatives volatility, or new issuance could therefore pressure revenue growth across several business lines at once.
Singapore Exchange News
SPXCY FAQ
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Singapore Exchange Stock Smart Score
Company Description
Singapore Exchange
Singapore Exchange Limited (SGX), along with its subsidiary entities, functions as a fully integrated platform for trading securities and derivatives, offering associated clearing services within Singapore. Its operations are organized into three principal divisions: Fixed Income, Currencies, and Commodities (FICC); Equities; and Data, Connectivity, and Indices. The FICC segment facilitates the issuance, trading, and clearing of fixed income instruments, foreign currencies, and commodities, including comprehensive collateral management services. The Equities division encompasses a wide array of offerings, from supporting equity issuance to managing the trading and clearing of both securities and derivatives, handling securities settlement and depository functions, and providing collateral management. Meanwhile, the Data, Connectivity, and Indices segment delivers critical market data solutions, connectivity services, and the administration of various financial indices. Beyond these core business lines, SGX offers crucial auxiliary services such as counterparty guarantees and depository functions for securities and derivatives transactions. It also engages in bond trading, executes front-line regulatory responsibilities, and provides computer and software maintenance. The company operates an electronic platform for foreign exchange trading and offers management consultancy for index-related activities. Additionally, SGX furnishes membership and management services to its related corporations, distributes data and indices for the bulk freight market, and manages an electricity market. Its services further extend to administrative support for index calculation, risk analysis, and financial research. Furthermore, SGX has entered into a global partnership agreement with New Zealand's Exchange, aiming to collaboratively expand its dairy derivatives market. Singapore Exchange Limited was founded in 1999 and its headquarters are situated in Singapore.
- Sector
- Financial
- Industry
- Financial - Data & Stock Exchanges
- CEO
- Boon Chye Loh
- Employees
- 1,190
- Website
- www.sgx.com
- Address
- No. 02-02, SGX Centre 1, Singapore, CE, 068804, SG
Singapore Exchange (SPXCY) Earnings & Revenues
SPXCY Company Deck
SPXCY Earnings Call
Earnings Call SentimentPositive
The call conveyed strong, broad-based operating performance across multiple business lines with record or multi-year highs in revenue, FX volume, SDAV and derivatives activity. Management highlighted margin expansion, a healthy balance sheet, a meaningful rise in dividends, continued investment in platform and product innovation (including crypto perpetual futures and long-dated JGB futures), and an expanding IPO pipeline including the NASDAQ GLB partnership. Key headwinds were a decline in treasury income, a $15 million impairment at Scientific Beta, a modest fall in equity derivatives revenue (-6%), and some higher operating costs. Overall, the positive operational momentum and financial strength substantially outweigh the identified challenges, which appear manageable and mostly non-recurring or being actively mitigated.
View all SPXCY earnings summariesTechnical Analysis
Overall Consensus
| Indicator | Bullish | Neutral | Bearish |
|---|---|---|---|
| Overall Consensus | 6 | 6 | 10 |
| Technical Analysis | 2 | 6 | 2 |
| Moving Averages | 4 | 0 | 8 |












