SIA - Singapore Airlines (C6L) AI Stock Analysis

• Market Cap: $22.90B
• Dividend Yield: 7.66%
• Average Volume (3M): 5.45M
• Price to Earnings (P/E): 8.5
• Beta (1Y): 1.00
• Revenue Growth: 2.77%
• EPS Growth: 3.88%
• Country: SG
• Employees: 22,819
• Sector: Industrials
• Sector Strength: 95
• Industry: Airlines, Airports & Air Services
• EPS (TTM): 0.06
• Shares Outstanding: 3,035,745,800
• 10 Day Avg. Volume: 5,358,300
• 30 Day Avg. Volume: 5,446,446
• PEG Ratio: -1.41
• Price to Book (P/B): 1.49
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 7.54
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $6.68
• Price Target Upside: -11.80% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 7

• Rating: 79 Outperform
• Price Target: S$8.00 ▲(5.68%Upside)

SIA's overall strong financial recovery and attractive valuation are key strengths, supported by positive technical trends. The company's low P/E ratio and high dividend yield make it an appealing investment, though attention to leverage and potential overbought conditions is advised.

Positive Factors

Dividend and Profit

The dividend payout ratio rose to 70% in FY25 due to aircraft delivery delays, indicating a strong return to shareholders.

Market Share

The closure of Jetstar Asia presents an opportunity for SIA/Scoot to capture additional market share at Changi Airport.

Passenger Demand

Passengers carried by SIA and Scoot rose 8.1% YoY, reflecting resilient demand from both corporate and leisure segments.

Negative Factors

Fuel Costs

Rising geopolitical tensions in the Middle East pose upside risks to jet fuel prices.

Hedging Losses

Hedging losses may impact the bottom line, as SIA hedges 49% of its fuel position at an average price of US$90 per barrel.

Margin Pressure

SIA to grapple with margin pressure amid pricing and cost challenges.

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. The company operates through Singapore Airlines, SilkAir, Budget Aviation, and SIAEC segments. The company also offers engineering services, pilot training services, air charters, and tour wholesaling and related services; and refurbishes aircraft galleys. In addition, it provides aircraft maintenance services, including technical and non-technical handling at the airport; maintenance, repair, and overhaul of aircraft and cabin components/systems; repair and overhaul of hydromechanical equipment; aviation insurance; and airframe maintenance and overhaul services, as well as manufactures aircraft cabin parts and tooling for the aerospace industry. Further, the company offers marketing and supporting portal services for the air cargo industry; and reservation service systems, as well as travel-related retail services. Additionally, it provides travel booking and related services through an online portal. As of March 31, 2021, it operated a fleet of 168 aircrafts, including 161 passenger aircrafts and 7 freighters. The company was founded in 1947 and is based in Singapore.

How the Company Makes Money

Singapore Airlines generates revenue primarily through its passenger and cargo transportation services. Passenger revenue forms the bulk of its earnings, derived from ticket sales across various cabin classes, including economy, premium economy, business, and first class. The airline's strategic alliances and codeshare agreements with other international carriers further enhance its route network and customer base, boosting ticket sales. Cargo operations, facilitated by SIA Cargo, contribute significantly to the company's revenue, capitalizing on global trade demands. Ancillary services, such as in-flight sales, loyalty programs, and travel-related services, provide additional income streams. The company's partnership with various travel agencies and online platforms, along with its focus on customer loyalty through the KrisFlyer program, support sustained revenue growth.

SIA - Singapore Airlines Financial Statement Overview

Summary

SIA has shown robust financial recovery, with significant revenue growth and improved profitability post-pandemic. The company's efforts in reducing leverage and enhancing cash flow highlight financial stability, but further improvements are needed to maintain momentum and address leverage risks.

Income Statement

SIA has shown significant revenue growth from $3.82 billion in 2021 to $19.54 billion in 2025, recovering from the pandemic impact. The gross profit margin improved from negative to 28.6% in 2025, indicating operational efficiency. Net profit margin increased to 14.2% in 2025, reflecting strong profitability. While EBIT and EBITDA margins have also improved, SIA needs to maintain this trajectory to strengthen its competitive position.

Balance Sheet

The debt-to-equity ratio improved from 1.54 in 2021 to 0.82 in 2025, showing reduced leverage. However, it remains high, posing potential risks. The equity ratio improved to 36.3% in 2025, indicating a strong financial base. ROE increased to 17.7% in 2025, showing efficient use of equity. While improvements are noted, maintaining low leverage remains crucial.

Cash Flow

SIA's operating cash flow turned positive post-2022, reaching $4.71 billion in 2025. Free cash flow also improved significantly, indicating better cash management. However, the free cash flow to net income ratio decreased over the years, suggesting potential inefficiencies. Continued focus on cash flow stabilization will be key for future resilience.

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	14.34B
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	3.73B	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	5.44B	9.97B

SIA - Singapore Airlines Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 7.57
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

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 7.57 is above the 20-day moving average (MA) of 7.27, above the 50-day MA of 7.10, and above the 200-day MA of 6.62, indicating a bullish trend. The MACD of 0.14 indicates Negative momentum. The RSI at 82.11 is Negative, neither overbought nor oversold. The STOCH value of 97.33 is Negative, 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
C6L	79 Outperform	$22.90B	8.47	17.47%	7.66%	2.77%	3.88%
Sector *	65 Neutral	$11.18B	15.79	5.49%	1.92%	3.14%	-24.90%
SEGSF	―	$2.90B	27.39	8.24%	1.07%	―	―
SGGKF	―	$21.57B	40.98	27.51%	0.31%	―	―
SPASF	―	$3.95B	20.44	9.89%	0.26%	―	―

SIA - Singapore Airlines Corporate Events

Singapore Airlines Announces Key Board Leadership Changes

Singapore Airlines Limited announced significant changes in its board leadership following its Fifty-Third Annual General Meeting. Mr. Peter Seah Lim Huat was re-elected as a Director and re-designated as a Non-Independent and Non-Executive Director. He stepped down as Chairman of certain committees but continues to serve as Chairman of the Board and other key committees. Ms. Goh Swee Chen and Ms. Jeanette Wong Kai Yuan have been appointed to lead roles in the Board Nominating and Compensation and Industrial Relations Committees, respectively. These changes are expected to impact the company’s governance structure and strategic direction.

The most recent analyst rating on (SG:C6L) stock is a Hold with a S$7.00 price target. To see the full list of analyst forecasts on SIA – Singapore Airlines stock, see the SG:C6L Stock Forecast page.

Singapore Airlines Announces Board Leadership Changes

Singapore Airlines has announced significant changes to its board leadership following its upcoming Annual General Meeting. Mr. Peter Seah Lim Huat will be re-designated as a Non-Independent and Non-Executive Director, stepping down as Chairman of certain committees but remaining in key leadership roles. Ms. Goh Swee Chen and Ms. Jeanette Wong Kai Yuan will take on new leadership positions, enhancing the company’s governance structure and potentially impacting its strategic direction.

The most recent analyst rating on (SG:C6L) stock is a Hold with a S$7.00 price target. To see the full list of analyst forecasts on SIA – Singapore Airlines stock, see the SG:C6L Stock Forecast page.

Singapore Airlines Sees Growth in Passenger Traffic for June 2025

In June 2025, Singapore Airlines reported a positive performance with increases in available seat kilometers, revenue passenger kilometers, and passengers carried across its operations. The passenger load factor improved slightly, indicating efficient utilization of available capacity. However, the cargo segment experienced a slight decline in load factor, despite an increase in gross capacity and cargo carried. These results highlight the airline’s continued recovery and growth in passenger traffic, although challenges remain in the cargo sector.

The most recent analyst rating on (SG:C6L) stock is a Hold with a S$7.00 price target. To see the full list of analyst forecasts on SIA – Singapore Airlines stock, see the SG:C6L Stock Forecast page.

Singapore Airlines Sees Growth in Passenger and Cargo Operations in May 2025

In May 2025, Singapore Airlines reported a 4% increase in available seat kilometers and a 3.5% rise in revenue passenger kilometers compared to the previous year, despite a slight dip in passenger load factor. The airline carried 5.1% more passengers, with notable improvements in East Asia routes. Scoot, its subsidiary, saw an 8.6% increase in passengers and a 2.9% rise in passenger load factor, despite a minor decrease in available seat kilometers. The Group Airlines’ cargo operations also experienced growth, with a 6.5% increase in cargo and mail carried, reflecting a robust performance in cargo load factor, particularly in East Asia.

The most recent analyst rating on (SG:C6L) stock is a Hold with a S$7.00 price target. To see the full list of analyst forecasts on SIA – Singapore Airlines stock, see the SG:C6L Stock Forecast page.

Singapore Airlines Reports Positive April 2025 Performance

In April 2025, Singapore Airlines reported a positive performance with an increase in available seat kilometers and revenue passenger kilometers, indicating a growth in passenger demand. The passenger load factor improved slightly, with notable increases in East Asia and the Americas, although Europe saw a decline. Scoot, a subsidiary, also showed a strong passenger load factor, despite a slight decrease in available seat kilometers. Cargo operations experienced growth in gross capacity and cargo load, although the cargo load factor decreased slightly, with Europe experiencing the most significant drop.

The most recent analyst rating on (SG:C6L) stock is a Hold with a S$7.00 price target. To see the full list of analyst forecasts on SIA – Singapore Airlines stock, see the SG:C6L Stock Forecast page.