SIA - Singapore Airlines (SG:C6L)
SGX:C6L
Top Page
SIA - Singapore Airlines
(SGX:C6L)
Select Model
Select Model
Rating:77Outperform
Price Target:
S$7.50
â–²(12.61% Upside)
Action:ReiteratedDate:10/29/25
Singapore Airlines (SG:C6L) earns an overall stock score of 77, driven primarily by strong financial performance (score: 78) with solid profitability and revenue growth, though tempered by debt levels and declining free cash flow. Attractive valuation metrics (score: 85) with a low P/E ratio and high dividend yield further bolster the score. Technical analysis (score: 70) indicates positive momentum but with caution due to nearing overbought conditions.
Positive Factors
Passenger Growth
The consistent increase in passenger numbers indicates strong demand recovery, enhancing revenue potential and market position.
Negative Factors
Revenue Growth Decline
Declining revenue growth could indicate challenges in market expansion and demand, potentially impacting future earnings.
Read all positive and negative factors
Positive Factors
Negative Factors
Passenger Growth
The consistent increase in passenger numbers indicates strong demand recovery, enhancing revenue potential and market position.
Read all positive factors
SIA - Singapore Airlines (C6L) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$20.96B
Dividend Yield6.21%
Average Volume (3M)5.25M
Price to Earnings (P/E)9.9
Beta (1Y)0.83
Revenue Growth1.91%
EPS Growth14.96%
CountrySG
Employees22,819
SectorIndustrials
Sector Strength72
IndustryAirlines, Airports & Air Services
Share Statistics
EPS (TTM)0.16
Shares Outstanding3,156,670,400
10 Day Avg. Volume6,235,950
30 Day Avg. Volume5,245,028
Financial Highlights & Ratios
PEG Ratio0.18
Price to Book (P/B)1.34
Price to Sales (P/S)1.08
P/FCF Ratio7.42
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
S$9.22Price Target Upside38.46% Upside
Rating ConsensusHold
Number of Analyst Covering6
EPS Forecast (FY)0.35
Revenue Forecast (FY)S$19.97B
SIA - Singapore Airlines Business Overview & Revenue Model
Company Description
Singapore Airlines Limited, together with subsidiaries, offers passenger and cargo air transportation services under the Singapore Airlines, SilkAir, and Scoot brands in East Asia, the Americas, Europe, Southwest Pacific, West Asia, and Africa. Th...
How the Company Makes Money
Singapore Airlines generates revenue primarily through passenger ticket sales, which account for the majority of its income. The airline operates a diversified revenue model that includes cargo services, which contribute significantly to its overa...
SIA - Singapore Airlines Earnings Call Summary
Earnings Call Date:Nov 08, 2024
(Q2-2025)
| % Change Since: |
Next Earnings Date:May 14, 2026
Earnings Call Sentiment Neutral
The earnings call highlighted revenue growth and strategic expansions, but was overshadowed by significant declines in operating profit and passenger yields, alongside rising costs and delivery delays. The airline is focusing on growth and strategic partnerships to mitigate these challenges.Positive Updates
Revenue Growth
Revenue for the first half came in at $9.5 billion, up 3.7% year-on-year, driven by higher passenger traffic and strong e-commerce demand in the cargo segment.
Negative Updates
Operating Profit Decline
Operating profit of $796 million for the first half, down 49% year-on-year, with an operating profit margin of 8.4%.
Read all updates
Q2-2025 Updates
Positive
Negative
Revenue Growth
Revenue for the first half came in at $9.5 billion, up 3.7% year-on-year, driven by higher passenger traffic and strong e-commerce demand in the cargo segment.
Read all positive updates
Company Guidance
During the Q2 2025 earnings call for Singapore Airlines (C6L.SI), the company reported a first-half operating profit of $796 million, marking a 49% decline from the previous year, yet maintaining an operating profit margin of 8.4%. Revenue increased by 3.7% year-on-year to $9.5 billion, driven by higher passenger traffic and cargo loads. Passenger capacity grew by 11%, while cargo capacity rose by 10.2%, resulting in an overall capacity increase of 10.6%. Despite increased revenue, expenditures surged by 14% year-on-year to $8.7 billion, influenced by a 20% rise in net fuel costs and a 12.1% increase in non-fuel costs, attributed to higher capacity and inflationary pressures. The company announced an interim dividend of 10%, aligning with the previous year. Passenger load factor (PLF) was reported at 86.4%, and unit revenue (RASK) at $0.88, both lower year-on-year but significantly above pre-COVID levels. The company continues to face challenges from increased competition and yield moderation but remains focused on strategic initiatives, including expanding its network and enhancing product offerings, with a focus on growth opportunities in Southeast Asia and India.SIA - Singapore Airlines Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
70
Positive
Cash Flow
75
Positive
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 19.54B | 19.01B | 17.77B | 7.61B | 3.82B |
| Gross Profit | 5.59B | 5.96B | 3.03B | -198.60M | -1.51B |
| EBITDA | 5.71B | 5.57B | 5.17B | 1.42B | -2.43B |
| Net Income | 2.78B | 2.67B | 2.16B | -962.00M | -4.27B |
Balance Sheet | |||||
| Total Assets | 43.09B | 44.26B | 50.19B | 49.72B | 37.58B |
| Cash, Cash Equivalents and Short-Term Investments | 8.78B | 11.79B | 16.73B | 14.17B | 8.05B |
| Total Debt | 12.91B | 13.45B | 15.34B | 15.92B | 14.56B |
| Total Liabilities | 27.02B | 27.52B | 29.94B | 26.92B | 21.30B |
| Stockholders Equity | 15.66B | 16.34B | 19.86B | 22.41B | 15.91B |
Cash Flow | |||||
| Free Cash Flow | 2.83B | 3.81B | 7.47B | -289.20M | -6.21B |
| Operating Cash Flow | 4.71B | 5.05B | 9.15B | 2.83B | -3.44B |
| Investing Cash Flow | -3.30B | -1.44B | -490.10M | -2.32B | -1.40B |
| Financing Cash Flow | -4.33B | -8.78B | -5.88B | 5.16B | 9.74B |
SIA - Singapore Airlines Technical Analysis
Positive
6.66
Price Trends
6.65
Positive
6.53
Positive
6.55
Positive
Market Momentum
-0.04
Positive
50.52
Neutral
66.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:C6L, the sentiment is Positive. The current price of 6.66 is above the 20-day moving average (MA) of 6.62, above the 50-day MA of 6.65, and above the 200-day MA of 6.55, indicating a bullish trend. The MACD of -0.04 indicates Positive momentum. The RSI at 50.52 is Neutral, neither overbought nor oversold. The STOCH value of 66.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:C6L.
SIA - Singapore Airlines Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | S$20.96B | 9.94 | 11.69% | 6.21% | 1.91% | 14.96% | |
69 Neutral | S$3.63B | 20.51 | 8.81% | 2.68% | 20.88% | 45.05% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
62 Neutral | S$5.29B | 16.71 | 9.76% | 1.44% | 10.26% | 30.63% | |
59 Neutral | S$34.22B | 56.74 | 28.83% | 2.01% | 8.49% | 19.65% |
* Industrials Sector Average
SG:C6L
SIA - Singapore Airlines
6.66
0.25
3.88%
SG:S59
SIA Engineering Co
3.23
1.06
48.99%
SG:S63
ST Engineering
10.98
4.34
65.31%
SG:S58
SATS
3.56
0.53
17.53%
SIA - Singapore Airlines Corporate Events
SIA Group Starts 2026 With Higher Passenger Volumes but Softer Load Factors
Feb 16, 2026
Singapore Airlines and its low-cost arm Scoot reported mixed operating metrics for January 2026, with the mainline carrier seeing slight declines in traffic and load factor while Scoot expanded capacity and passenger volumes. The group’s com...
Singapore Airlines Raises S$500 Million via 10-Year Note Issue
Jan 30, 2026
Singapore Airlines has raised S$500 million through the issuance of 2.70 per cent. fixed-rate notes due 2036 under its S$10 billion multicurrency medium term note programme, with DBS Bank, Oversea-Chinese Banking Corporation, Standard Chartered Ba...
Singapore Airlines Prices S$500 Million 2.70% Notes Due 2036 for Fleet and Corporate Funding
Jan 20, 2026
Singapore Airlines has launched and priced a S$500 million issue of 2.70 per cent fixed-rate notes due 2036 under its S$10 billion multicurrency medium-term note programme, with DBS Bank, OCBC, Standard Chartered and UOB acting as global coordinat...
SIA Group Ends 2025 with Strong Cargo Gains and Steady Passenger Growth
Jan 15, 2026
The SIA Group reported marginally softer passenger load factors but higher overall traffic and capacity in December 2025, underscoring steady demand across its network. Singapore Airlines’ mainline passenger load factor eased to 87.6% from 8...
Singapore Airlines Reports November 2025 Operating Results
Dec 15, 2025
In November 2025, Singapore Airlines reported a slight increase in passenger numbers and a stable passenger load factor, despite a minor decrease in revenue passenger kilometers. The airline’s subsidiary, Scoot, showed significant growth in ...
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.