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Singapore Exchange

DB:SOUU
Snowflake Description

Solid track record established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SOUU
DB
SGD10B
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

Singapore Exchange Limited, together with its subsidiaries, operates an integrated exchange for equity, fixed income, currency, and commodity markets in Singapore. The last earnings update was 66 days ago. More info.


Add to Portfolio Compare Print
SOUU Share Price and Events
7 Day Returns
4.4%
DB:SOUU
12.3%
DE Capital Markets
7.2%
DE Market
1 Year Returns
-
DB:SOUU
-8.8%
DE Capital Markets
-17.5%
DE Market
SOUU Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Singapore Exchange (SOUU) 4.4% 2.5% -6.3% - - -
DE Capital Markets 12.3% -26.5% -16.8% -8.8% -29% -56.3%
DE Market 7.2% -22.3% -26.1% -17.5% -25.7% -29.1%
1 Year Return vs Industry and Market
  • No trading data on SOUU.
  • No trading data on SOUU.
Price Volatility
SOUU
Industry
5yr Volatility vs Market

SOUU Value

 Is Singapore Exchange undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Singapore Exchange to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Singapore Exchange.

DB:SOUU Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 12 analysts.
= Stable Book Value * Return on Equity
= SGD1.19 * 36.1%
SGD0.43
Book Value of Equity per Share Weighted future Book Value estimates from 10 analysts. SGD1.19
Discount Rate (Cost of Equity) See below 4.2%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:SOUU
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.754 (1 + (1- 17%) (1.02%))
0.84
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.84
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (0.84 * 5.44%)
4.18%

Discounted Cash Flow Calculation for DB:SOUU using Excess Returns Model Model

The calculations below outline how an intrinsic value for Singapore Exchange is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:SOUU Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (36.1% – 4.18%) * SGD1.19)
SGD0.38
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= SGD0.38 / (4.18% - -0.39%)
SGD8.33
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= SGD1.19 + SGD8.33
SGD9.53
DB:SOUU Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:SOUU represents 9.19794x of SGX:S68
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
9.19794x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (SGD) x Listing Adjustment Factor
= SGD 9.53 x 9.19794
€87.62
Value per share (EUR) From above. €87.62
Current discount Discount to share price of €83.15
= -1 x (€83.15 - €87.62) / €87.62
5.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Singapore Exchange is available for.
Intrinsic value
5%
Share price is €83.15 vs Future cash flow value of €87.62
Current Discount Checks
For Singapore Exchange to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Singapore Exchange's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Singapore Exchange's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Singapore Exchange's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Singapore Exchange's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:SOUU PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in SGD SGD0.39
SGX:S68 Share Price ** SGX (2020-03-27) in SGD SGD9.04
Germany Capital Markets Industry PE Ratio Median Figure of 17 Publicly-Listed Capital Markets Companies 21.49x
Germany Market PE Ratio Median Figure of 400 Publicly-Listed Companies 16.49x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Singapore Exchange.

DB:SOUU PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SGX:S68 Share Price ÷ EPS (both in SGD)

= 9.04 ÷ 0.39

23.22x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Singapore Exchange is overvalued based on earnings compared to the DE Capital Markets industry average.
  • Singapore Exchange is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Singapore Exchange's expected growth come at a high price?
Raw Data
DB:SOUU PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 23.22x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts
3.4%per year
Germany Capital Markets Industry PEG Ratio Median Figure of 7 Publicly-Listed Capital Markets Companies 1.49x
Germany Market PEG Ratio Median Figure of 252 Publicly-Listed Companies 1.22x

*Line of best fit is calculated by linear regression .

DB:SOUU PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 23.22x ÷ 3.4%

6.76x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Singapore Exchange is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Singapore Exchange's assets?
Raw Data
DB:SOUU PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in SGD SGD1.00
SGX:S68 Share Price * SGX (2020-03-27) in SGD SGD9.04
Germany Capital Markets Industry PB Ratio Median Figure of 32 Publicly-Listed Capital Markets Companies 1.61x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.42x
DB:SOUU PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SGX:S68 Share Price ÷ Book Value per Share (both in SGD)

= 9.04 ÷ 1.00

9x

* Primary Listing of Singapore Exchange.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Singapore Exchange is overvalued based on assets compared to the DE Capital Markets industry average.
X
Value checks
We assess Singapore Exchange's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Singapore Exchange has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

SOUU Future Performance

 How is Singapore Exchange expected to perform in the next 1 to 3 years based on estimates from 12 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
3.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Singapore Exchange expected to grow at an attractive rate?
  • Singapore Exchange's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Singapore Exchange's earnings growth is positive but not above the Germany market average.
  • Singapore Exchange's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:SOUU Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:SOUU Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts 3.4%
DB:SOUU Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 12 Analysts 3.8%
Germany Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 41.2%
Germany Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:SOUU Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
All numbers in SGD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:SOUU Future Estimates Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-06-30 1,050 489 455 9
2021-06-30 1,024 498 447 12
2020-06-30 975 450 426 11
2020-03-29
DB:SOUU Past Financials Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income *
2019-12-31 955 478 417
2019-09-30 949 436 414
2019-06-30 910 417 391
2019-03-31 875 403 371
2018-12-31 868 425 372
2018-09-30 849 422 364
2018-06-30 845 427 363
2018-03-31 839 436 365
2017-12-31 820 407 347
2017-09-30 814 403 347
2017-06-30 801 378 340
2017-03-31 791 365 331

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Singapore Exchange's earnings are expected to grow by 3.4% yearly, however this is not considered high growth (20% yearly).
  • Singapore Exchange's revenue is expected to grow by 3.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:SOUU Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below

All data from Singapore Exchange Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:SOUU Future Estimates Data
Date (Data in SGD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-06-30 0.42 0.48 0.38 9.00
2021-06-30 0.42 0.46 0.39 12.00
2020-06-30 0.40 0.41 0.39 11.00
2020-03-29
DB:SOUU Past Financials Data
Date (Data in SGD Millions) EPS *
2019-12-31 0.39
2019-09-30 0.39
2019-06-30 0.37
2019-03-31 0.35
2018-12-31 0.35
2018-09-30 0.34
2018-06-30 0.34
2018-03-31 0.34
2017-12-31 0.32
2017-09-30 0.32
2017-06-30 0.32
2017-03-31 0.31

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Singapore Exchange is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Singapore Exchange's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Singapore Exchange has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

SOUU Past Performance

  How has Singapore Exchange performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Singapore Exchange's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Singapore Exchange's year on year earnings growth rate has been positive over the past 5 years.
  • Singapore Exchange's 1-year earnings growth exceeds its 5-year average (12.1% vs 3.3%)
  • Singapore Exchange's earnings growth has exceeded the DE Capital Markets industry average in the past year (12.1% vs 5.1%).
Earnings and Revenue History
Singapore Exchange's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Singapore Exchange Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:SOUU Past Revenue, Cash Flow and Net Income Data
Date (Data in SGD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 955.29 416.76 245.30
2019-09-30 948.54 414.24 247.10
2019-06-30 909.81 391.10 243.30
2019-03-31 874.73 370.92 232.72
2018-12-31 868.19 371.73 228.34
2018-09-30 849.08 363.57 223.24
2018-06-30 844.68 363.20 222.00
2018-03-31 839.44 364.76 214.80
2017-12-31 819.89 347.35 210.26
2017-09-30 814.44 347.30 208.66
2017-06-30 800.81 339.69 205.45
2017-03-31 791.15 331.30 201.99
2016-12-31 794.30 337.41 202.59
2016-09-30 789.31 332.84 199.47
2016-06-30 818.11 349.02 203.07
2016-03-31 835.34 368.39 204.47
2015-12-31 828.79 367.46 202.82
2015-09-30 829.27 370.33 202.70
2015-06-30 778.52 348.61 194.15
2015-03-31 735.85 329.81 187.08
2014-12-31 702.18 317.39 178.05
2014-09-30 671.65 305.74 168.99
2014-06-30 686.86 320.44 168.16
2014-03-31 716.53 330.61 166.58
2013-12-31 741.55 352.46 165.13
2013-09-30 738.73 353.85 163.43
2013-06-30 715.14 335.90 158.01
2013-03-31 670.65 309.39 146.92

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Singapore Exchange has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Singapore Exchange used its assets more efficiently than the DE Capital Markets industry average last year based on Return on Assets.
  • Singapore Exchange's use of capital has not improved over the past 3 years (Return on Capital Employed).
X
Past performance checks
We assess Singapore Exchange's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Singapore Exchange has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

SOUU Health

 How is Singapore Exchange's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Singapore Exchange's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Singapore Exchange is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Singapore Exchange's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Singapore Exchange's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are -8.571982645751E+16x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Singapore Exchange Company Filings, last reported 2 months ago.

DB:SOUU Past Debt and Equity Data
Date (Data in SGD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 1,075.79 0.00 751.00
2019-09-30 1,128.43 0.00 812.35
2019-06-30 1,090.85 0.00 692.21
2019-03-31 978.91 0.00 663.42
2018-12-31 956.46 0.00 703.74
2018-09-30 946.13 0.00 864.25
2018-06-30 1,096.23 0.00 854.31
2018-03-31 1,015.39 0.00 800.01
2017-12-31 971.02 0.00 742.99
2017-09-30 935.14 0.00 871.21
2017-06-30 1,032.53 0.00 797.04
2017-03-31 943.26 0.00 739.45
2016-12-31 914.73 0.00 662.96
2016-09-30 879.07 0.00 930.85
2016-06-30 989.58 0.00 867.01
2016-03-31 918.86 0.00 764.52
2015-12-31 883.53 0.00 718.87
2015-09-30 850.38 0.00 886.20
2015-06-30 976.40 0.00 850.88
2015-03-31 881.93 0.00 867.61
2014-12-31 833.53 0.00 865.56
2014-09-30 787.00 0.00 837.36
2014-06-30 922.08 0.00 757.36
2014-03-31 841.93 0.00 727.79
2013-12-31 805.95 0.00 702.38
2013-09-30 770.99 0.00 863.48
2013-06-30 888.62 0.00 763.34
2013-03-31 798.58 0.00 672.89
  • Singapore Exchange's level of debt (0%) compared to net worth is satisfactory (less than 40%).
  • Unable to establish if Singapore Exchange's debt level has increased without past 5-year debt data.
  • Operating cash flow is negative therefore debt is not well covered.
  • Singapore Exchange has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Singapore Exchange's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Singapore Exchange has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

SOUU Dividends

 What is Singapore Exchange's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.32%
Current annual income from Singapore Exchange dividends. Estimated to be 3.66% next year.
If you bought €2,000 of Singapore Exchange shares you are expected to receive €66 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Singapore Exchange's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.68%).
  • Singapore Exchange's dividend is below the markets top 25% of dividend payers in Germany (4.96%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:SOUU Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
Germany Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 3.4%
Germany Market Average Dividend Yield Market Cap Weighted Average of 320 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:SOUU Future Dividends Estimate Data
Date (Data in SGD) Dividend per Share (annual) Avg. No. Analysts
2022-06-30 0.35 10.00
2021-06-30 0.33 14.00
2020-06-30 0.32 14.00
2020-03-29
DB:SOUU Past Annualized Dividends Data
Date (Data in SGD) Dividend per share (annual) Avg. Yield (%)
2019-09-09 0.300 3.435
2019-07-31 0.300 3.666
2018-07-27 0.300 4.046
2017-08-28 0.280 3.722
2017-07-27 0.280 3.724
2016-07-27 0.280 3.777
2015-07-29 0.280 3.739
2014-07-31 0.280 3.630
2013-07-23 0.280 3.944
2012-07-27 0.270 3.742
2011-08-02 0.270 4.122
2010-08-02 0.270 3.349
2009-08-05 0.260 3.265

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Singapore Exchange's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.3x coverage).
X
Income/ dividend checks
We assess Singapore Exchange's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Singapore Exchange afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Singapore Exchange has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

SOUU Management

 What is the CEO of Singapore Exchange's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Boon Chye Loh
COMPENSATION SGD4,291,175
AGE 55
TENURE AS CEO 4.7 years
CEO Bio

Mr. Loh Boon Chye has been the Chief Executive Officer of Singapore Exchange Limited since July 14, 2015. Mr. Loh served as the Deputy President of The Asia-Pacific Region and Head of Global Markets for Asia-Pacific at Merrill Lynch & Co., Inc., since December 2012. Mr. Loh joined Merrill in 1998. Mr. Loh served as the Chairman of Global Equity Capital Markets at Merrill Lynch since 2008 and served as its Vice Chairman of Investment Banking, Europe, the Middle East and Africa. He spent 17 years at Deutsche Bank AG. Mr. Loh served as the Head of Corporate & Investment Bank for Asia Pacific and Head of the Global Markets Division for Asia at Deutsche Bank AG. He served as the Chief Executive of the Global Markets Division at Deutsche Bank AG in Singapore. Mr. Loh joined Deutsche Bank AG, Singapore in their Emerging Markets Division in Asia in 1995. He started his career as an Investment Officer with the Monetary Authority of Singapore in 1989 and joined the Singapore branch of the Morgan Guaranty Trust Co. of New York in 1992. Mr. Loh served as the Chairman of the Capital Markets Working Group since 1998, the Deputy President of ACI Singapore since 1999 and as Chairman of the Debt Capital Markets Committee of the Singapore Investment Banking Association since 2000. He serves as a Director of Gym & Sports Pte Ltd., BC Capital Pte Ltd. and IBF Council. He has been an Executive and Non-Independent Director of Singapore Exchange Limited since July 20, 2015. He has been Director at Singapore Economic Development Board since February 1, 2017 and GIC Pvt. Ltd. since November 30, 2012. He served as an Independent Director at Singapore Exchange Ltd. from October 22, 2003 to September 20, 2012. He serves as a Director of World Federation of Exchanges. He served as a Director of BondsinAsia Limited, BondsinAsia (Singapore) Pte Ltd., Deutsche Bank International Asia Ltd. and Deutsche Securities India (Pte) Ltd. He serves as the Chairman the Singapore Foreign Exchange Market Committee. He holds a Bachelor of Engineering degree from the National University of Singapore.

CEO Compensation
  • Boon Chye's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Boon Chye's remuneration is about average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Singapore Exchange management team in years:

5
Average Tenure
56.5
Average Age
  • The tenure for the Singapore Exchange management team is about average.
Management Team

Boon Chye Loh

TITLE
CEO and Executive & Non-Independent Director
COMPENSATION
SGD4M
AGE
55
TENURE
4.7 yrs

Lay Chew Chng

TITLE
Chief Financial Officer
COMPENSATION
SGD1M
AGE
61
TENURE
8.3 yrs

Sutat Chew

TITLE
Head of Global Sales & Senior MD
COMPENSATION
SGD1M
AGE
47
TENURE
0.8 yrs

Michael Syn

TITLE
Head of Equities & Senior MD
COMPENSATION
SGD1M
TENURE
9 yrs

Boon Gin Tan

TITLE
Chief Executive Officer of Singapore Exchange Regulation
COMPENSATION
SGD1M
TENURE
4.8 yrs

Tinku Gupta

TITLE
Chief Technology Officer & Senior MD
TENURE
5.2 yrs

Dominic Lim

TITLE
Head of Investor Relations

Glenn Seah

TITLE
Head of Legal & Compliance and Joint Company Secretary
TENURE
4.2 yrs

May Nah Chin

TITLE
Vice President of Marketing & Communications

Arulraj Maria Devadoss

TITLE
Head of Human Resources & Senior MD
AGE
58
TENURE
8.3 yrs
Board of Directors Tenure

Average tenure and age of the Singapore Exchange board of directors in years:

4.5
Average Tenure
61
Average Age
  • The tenure for the Singapore Exchange board of directors is about average.
Board of Directors

Chong Seng Kwa

TITLE
Non-Executive Independent Chairman
COMPENSATION
SGD1M
AGE
72
TENURE
3.5 yrs

Boon Chye Loh

TITLE
CEO and Executive & Non-Independent Director
COMPENSATION
SGD4M
AGE
55
TENURE
4.7 yrs

Kevin Khien Kwok

TITLE
Non-Executive & Independent Director
COMPENSATION
SGD195K
AGE
63
TENURE
7.5 yrs

Chng Lim

TITLE
Non-Executive & Non-Independent Director
COMPENSATION
SGD130K
AGE
58
TENURE
4.3 yrs

Thaddeus Thomas Beczak

TITLE
Non-Executive & Independent Director
COMPENSATION
SGD115K
AGE
68
TENURE
9.4 yrs

Jane Diplock

TITLE
Non-Executive & Independent Director
COMPENSATION
SGD155K
AGE
70
TENURE
8.7 yrs

Gek Khim Chew

TITLE
Non-Executive & Independent Director
COMPENSATION
SGD125K
AGE
57
TENURE
6.3 yrs

Chin-Hu Lim

TITLE
Non Executive & Non Independent Director
COMPENSATION
SGD134K
AGE
60
TENURE
2.5 yrs

Wai King Ng

TITLE
Non-Executive & Independent Director
COMPENSATION
SGD78K
AGE
52
TENURE
1.5 yrs

Subra Suresh

TITLE
Non-Executive & Independent Director
COMPENSATION
SGD78K
AGE
62
TENURE
1.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Singapore Exchange's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Singapore Exchange has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

SOUU News

Simply Wall St News

SOUU Company Info

Description

Singapore Exchange Limited, together with its subsidiaries, operates an integrated exchange for equity, fixed income, currency, and commodity markets in Singapore. The company’s Equities and Fixed Income segment provides issuer, securities trading and clearing, post trade, and membership and collateral management services. Its Derivatives segment offers derivatives trading and clearing, as well as membership and collateral management services. The company’s Market Data and Connectivity segment offers market data and connectivity services. It also provides counterparty guarantee, and depository and related services for securities transactions; bond trading services; front-line regulatory functions; and computer and software maintenance, and consultancy services. In addition, the company offers membership and management services to related corporations; provides and distributes bulk freight market indices and information; and operates an electricity market, as well as provides listing and settlement services. Singapore Exchange Limited was incorporated in 1999 and is headquartered in Singapore.

Details
Name: Singapore Exchange Limited
SOUU
Exchange: DB
Founded: 1999
SGD6,104,142,724
1,070,024,960
Website: http://www2.sgx.com
Address: Singapore Exchange Limited
No. 02-02, SGX Centre 1,
2 Shenton Way,
Singapore,
068804,
Singapore
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SGX S68 Ordinary Shares Singapore Exchange SG SGD 23. Nov 2000
OTCPK SPXC.F Ordinary Shares Pink Sheets LLC US USD 23. Nov 2000
DB SOU Ordinary Shares Deutsche Boerse AG DE EUR 23. Nov 2000
OTCPK SPXC.Y UNSPONSORD ADR Pink Sheets LLC US USD 04. Nov 2008
DB SOUU UNSPONSORD ADR Deutsche Boerse AG DE EUR 04. Nov 2008
Number of employees
Current staff
Staff numbers
831
Singapore Exchange employees.
Industry
Financial Exchanges and Data
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/29 00:13
End of day share price update: 2020/03/27 00:00
Last estimates confirmation: 2020/03/27
Last earnings filing: 2020/01/23
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/06/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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 here.