SIA - Singapore Airlines (C6L) AI Stock Analysis

• Market Cap: $21.04B
• Dividend Yield: 5.94%
• Average Volume (3M): 4.45M
• Price to Earnings (P/E): 7.5
• Beta (1Y): 0.90
• Revenue Growth: 2.77%
• EPS Growth: 3.88%
• Country: SG
• Employees: 22,819
• Sector: Industrials
• Sector Strength: 72
• Industry: Airlines, Airports & Air Services
• EPS (TTM): 0.06
• Shares Outstanding: 3,131,489,000
• 10 Day Avg. Volume: 3,859,556
• 30 Day Avg. Volume: 4,448,835
• PEG Ratio: 0.18
• Price to Book (P/B): 1.34
• Price to Sales (P/S): 1.08
• P/FCF Ratio: 7.42
• Enterprise Value/Market Cap: 0.00
• Enterprise Value/Revenue: 0.00
• Enterprise Value/Gross Profit: 0.00
• Enterprise Value/Ebitda: 0.00
• 1Y Price Target: $5.99
• Price Target Upside: -10.92% Downside
• Rating Consensus: Strong Sell
• Number of Analyst Covering: 4

• Rating: 70 Outperform
• Price Target: S$7.50 ▲(11.44% Upside)

SIA's overall stock score is driven by its strong financial performance, particularly in profitability and valuation metrics. The technical indicators show positive momentum but caution is advised due to potential overbought conditions. The lack of earnings call and corporate events data limits additional insights.

Positive Factors

Passenger Growth

The consistent increase in passenger numbers indicates strong demand recovery, enhancing revenue potential and market position.

Operational Efficiency

Improved profit margins reflect effective cost management and operational efficiency, supporting long-term profitability.

Modern Fleet and Innovation

A modern fleet and innovative services enhance customer satisfaction and competitive advantage, supporting sustained growth.

Negative Factors

Revenue Growth Decline

Declining revenue growth could indicate challenges in market expansion and demand, potentially impacting future earnings.

Free Cash Flow Challenges

Decreasing free cash flow growth may limit investment capacity and financial flexibility, affecting long-term strategic initiatives.

Cargo Segment Weakness

Weakness in the cargo segment could reduce diversification benefits and revenue stability, impacting overall business resilience.

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 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 overall earnings, especially during periods of high demand for air freight. Additionally, SIA earns revenue from ancillary services such as in-flight sales, loyalty programs (KrisFlyer), and partnerships with other airlines through codeshare agreements. These partnerships enhance its route network and customer reach, further boosting ticket sales. The company's focus on premium services allows it to command higher fares, especially in its business and first-class segments, contributing to higher profit margins. Moreover, SIA has invested in strategic alliances and joint ventures, which help optimize operational efficiency and expand market presence, thus enhancing its revenue potential.

SIA - Singapore Airlines Financial Statement Overview

Summary

SIA has shown a robust recovery with significant revenue growth and improved profitability post-pandemic. The company has reduced leverage, enhancing financial stability. However, maintaining momentum and improving cash flow efficiency and leverage ratios are crucial for long-term sustainability.

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	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	19.77B	19.54B	19.01B	17.77B	7.61B	3.82B
Gross Profit	12.46B	5.59B	5.96B	3.03B	-198.60M	-1.51B
EBITDA	3.92B	5.71B	5.57B	5.17B	1.42B	-2.43B
Net Income	3.39B	2.78B	2.67B	2.16B	-962.00M	-4.27B
Balance Sheet
Total Assets	43.09B	43.09B	44.26B	50.19B	49.72B	37.58B
Cash, Cash Equivalents and Short-Term Investments	8.78B	8.78B	11.79B	16.73B	14.17B	8.05B
Total Debt	12.91B	12.91B	13.45B	15.34B	15.92B	14.34B
Total Liabilities	27.02B	27.02B	27.52B	29.94B	26.92B	21.30B
Stockholders Equity	15.66B	15.66B	16.34B	19.86B	22.41B	15.91B
Cash Flow
Free Cash Flow	2.94B	2.83B	3.81B	7.47B	-289.20M	-6.21B
Operating Cash Flow	4.71B	4.71B	5.05B	9.15B	2.83B	-3.44B
Investing Cash Flow	-3.30B	-3.30B	-1.44B	-490.10M	-2.32B	-1.40B
Financing Cash Flow	-4.33B	-4.33B	-8.78B	-5.88B	5.16B	9.74B

SIA - Singapore Airlines Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 6.73
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• 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 6.73 is above the 20-day moving average (MA) of 6.61, above the 50-day MA of 6.58, and above the 200-day MA of 6.51, indicating a bullish trend. The MACD of 0.03 indicates Negative momentum. The RSI at 65.85 is Neutral, neither overbought nor oversold. The STOCH value of 88.36 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
S63	―	$26.67B	34.71	28.83%	1.40%	8.49%	19.65%
C6L	―	$21.04B	7.55	17.47%	5.94%	2.77%	3.88%
S59	―	$3.78B	27.05	8.24%	2.54%	13.79%	44.05%
Sector *	―	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
S58	―	$5.16B	21.21	9.89%	1.45%	12.54%	332.80%

SIA - Singapore Airlines Corporate Events

Singapore Airlines Sees Passenger Growth in September 2025, Cargo Faces Challenges

In September 2025, Singapore Airlines reported a slight increase in passenger metrics, with a 1.5% rise in revenue passenger-kilometers and a 4.4% increase in passengers carried compared to the previous year. The passenger load factor improved marginally by 0.5 percentage points. Scoot, the low-cost subsidiary, showed stronger growth with an 11.8% increase in revenue passenger-kilometers and a 15.5% rise in passengers carried. However, the cargo segment faced challenges, with a 3.8% decline in cargo load and a 1.8 percentage point drop in cargo load factor, indicating a potential area of concern for the company’s overall performance.

Singapore Airlines Sees Passenger Growth in August 2025

In August 2025, Singapore Airlines reported a positive performance with an increase in passenger numbers and load factors across its operations. The airline saw a 6.9% rise in passengers carried and a 2.0 percentage point improvement in passenger load factor. Scoot, its low-cost subsidiary, also experienced significant growth with a 14.2% increase in passengers and a 3.1 percentage point rise in load factor. However, the cargo segment showed a slight decline in load factor despite a 3.7% increase in cargo and mail carried. These results indicate a strong recovery in passenger demand, though challenges remain in the cargo sector.

Singapore Airlines Reports Growth in July 2025 Operations

In July 2025, Singapore Airlines reported an increase in both passenger and cargo operations. The passenger load factor improved across most regions, with a notable increase in passengers carried and revenue passenger kilometers. Cargo operations also saw growth in capacity and load, although the cargo load factor slightly decreased. These results indicate a positive trend in operational performance, suggesting a strengthening market position and potential benefits for stakeholders.