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StarHub
(SGX:CC3)
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Rating:50Neutral
Price Target:
S$1.00
â–¼(-1.96% Downside)
Action:Reiterated
Date:08/04/26
The score is held back primarily by weakening profitability, higher leverage from rising debt and lower equity, and a swing to slightly negative free cash flow. Technicals are supportive with the stock trading above major moving averages, but momentum looks stretched (high RSI/Stoch). Valuation is mixed: a strong dividend yield helps, while a relatively high P/E for a low-growth profile limits upside.
Positive Factors
Stable recurring revenue base
StarHub's core revenue is subscription-driven across mobile, broadband, pay-TV and enterprise contracts, which historically produced a stable revenue base. That recurring mix supports predictable topline and underpins operating cash flow resilience over the medium term despite profit volatility.
Negative Factors
Rising leverage
Debt increasing materially while equity shrank meaningfully reduces financial flexibility and raises refinancing and interest-rate risk. Elevated leverage constrains capacity for strategic investments or large-scale deleveraging and makes the company more vulnerable if profitability or cash flow weakens further.
Read all positive and negative factors
Positive Factors
Negative Factors
Stable recurring revenue base
StarHub's core revenue is subscription-driven across mobile, broadband, pay-TV and enterprise contracts, which historically produced a stable revenue base. That recurring mix supports predictable topline and underpins operating cash flow resilience over the medium term despite profit volatility.
Read all positive factors
StarHub (CC3) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$1.89B
Dividend Yield5.45%
Average Volume (3M)1.11M
Price to Earnings (P/E)23.0
Beta (1Y)0.32
Revenue Growth-0.63%
EPS Growth-47.27%
CountrySG
Employees20,410
SectorCommunication Services
Sector Strength97
IndustryTelecommunications Services
Share Statistics
EPS (TTM)0.05
Shares Outstanding1,731,651,500
10 Day Avg. Volume885,280
30 Day Avg. Volume1,114,336
Financial Highlights & Ratios
PEG Ratio-0.48
Price to Book (P/B)6.41
Price to Sales (P/S)0.82
P/FCF Ratio-78.04
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
S$1.12Price Target Upside9.48% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)0.02
Revenue Forecast (FY)S$2.15B
StarHub Business Overview & Revenue Model
Company Description
StarHub Ltd engages in the operation and provision of telecommunications services and other businesses relating to the info-communications industry for individuals and businesses in Singapore. The company operates through two segments, Telecommuni...
How the Company Makes Money
StarHub makes money primarily by selling subscription-based connectivity and digital services to consumers and businesses, complemented by device sales and other service fees. Key revenue streams typically include: (1) Mobile services: recurring m...
StarHub Earnings Call Summary
Earnings Call Date:Nov 13, 2024
(Q3-2024)
| % Change Since: |
Next Earnings Date:Aug 13, 2026
Earnings Call Sentiment Neutral
The earnings call presented a mixed picture with strong growth in the enterprise and broadband segments, and strategic initiatives in mobile leading to subscriber growth. However, there were challenges in mobile revenue decline and timing issues in cybersecurity revenues. The sentiment is balanced with a slight positive outlook due to anticipated recoveries.Positive Updates
Enterprise Growth
Enterprise segment showed strong performance with Network Solutions growing 9.4% year-on-year and Managed Services growing by about 25% year-on-year.
Negative Updates
Mobile Revenue Decline
Mobile revenue declined 5% year-on-year and 0.8% quarter-on-quarter due to competitive pressures and market dynamics.
Read all updates
Q3-2024 Updates
Positive
Negative
Enterprise Growth
Enterprise segment showed strong performance with Network Solutions growing 9.4% year-on-year and Managed Services growing by about 25% year-on-year.
Read all positive updates
Company Guidance
In the Q3 2024 earnings call for CC3.SI, the executives provided detailed guidance on various financial metrics and their strategic direction. The company's service revenue remained flat year-to-date, with a quarter-on-quarter decline attributed to timing issues in their cybersecurity business, Ensign. Despite this, they anticipate strong revenue recognition in Q4, maintaining their full-year forecast for year-on-year growth. The Service EBITDA showed growth, driven by high-margin enterprise segments and operational efficiencies. The net debt-to-EBITDA ratio improved to 1.25x, enhancing financial flexibility. Mobile revenue declined 5% year-on-year, but only 0.8% quarter-on-quarter, reflecting resilience compared to competitors. The company added 55,000 subscribers in Q3 and expanded its broadband subscriber base by 2.8% quarter-on-quarter. In the enterprise segment, network solutions and managed services grew 9.4% and 25% year-on-year, respectively. The executives reiterated their commitment to the DARE+ transformation, expecting to complete the spend by mid-2025, and maintaining a focus on prudent capital management and potential consolidation opportunities.StarHub Financial Statement Overview
Summary
Income Statement
50
Neutral
Balance Sheet
34
Negative
Cash Flow
46
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.35B | 2.37B | 2.37B | 2.33B | 2.04B |
| Gross Profit | 625.70M | 1.26B | 700.60M | 1.14B | 1.07B |
| EBITDA | 408.20M | 481.30M | 393.30M | 400.70M | 513.20M |
| Net Income | 86.40M | 160.50M | 141.70M | 62.20M | 149.30M |
Balance Sheet | |||||
| Total Assets | 3.61B | 3.12B | 3.04B | 3.13B | 3.24B |
| Cash, Cash Equivalents and Short-Term Investments | 857.10M | 539.60M | 509.60M | 573.60M | 832.80M |
| Total Debt | 1.99B | 1.26B | 1.24B | 1.27B | 1.50B |
| Total Liabilities | 3.16B | 2.35B | 2.33B | 2.45B | 2.55B |
| Stockholders Equity | 300.60M | 607.80M | 568.80M | 530.40M | 589.50M |
Cash Flow | |||||
| Free Cash Flow | -24.70M | 162.20M | 185.90M | 222.20M | 484.60M |
| Operating Cash Flow | 353.80M | 361.30M | 358.60M | 383.70M | 657.10M |
| Investing Cash Flow | -364.80M | -101.90M | -224.90M | -235.00M | -286.90M |
| Financing Cash Flow | 326.80M | -221.80M | -209.60M | -403.60M | 47.80M |
StarHub Technical Analysis
Positive
1.02
Price Trends
1.04
Positive
1.02
Positive
1.06
Positive
Market Momentum
0.02
Negative
76.89
Negative
84.85
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:CC3, the sentiment is Positive. The current price of 1.02 is below the 20-day moving average (MA) of 1.05, below the 50-day MA of 1.04, and below the 200-day MA of 1.06, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 76.89 is Negative, neither overbought nor oversold. The STOCH value of 84.85 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:CC3.
StarHub Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | S$3.94B | 47.20 | 3.63% | 5.45% | 1.58% | -12.65% | |
69 Neutral | S$72.46B | 13.06 | 20.52% | 4.15% | 0.81% | 39.56% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
59 Neutral | S$149.93M | 9.02 | 2.35% | 12.35% | -1.91% | -59.83% | |
50 Neutral | S$1.89B | 22.96 | 19.53% | 5.88% | -0.63% | -47.27% |
* Communication Services Sector Average
SG:CC3
StarHub
1.11
-0.05
-4.56%
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Advanced Info Service
1.44
0.36
32.72%
StarHub Corporate Events
StarHub leans on enterprise growth and cost savings to defend dividend amid tough market
May 26, 2026
StarHub reported FY2025 service revenue of about S$2 billion and EBITDA of S$400 million, with net profit of S$100 million excluding a spectrum penalty, while optimising capital expenditure below guidance and maintaining a strong balance sheet. Ma...
StarHub Profit Slumps in 1Q2026 as Consumer Weakness Spurs Cost Reset and Balance-Sheet Move
May 7, 2026
StarHub reported a weak first quarter of 2026, with service revenue down 3.9% year-on-year to S$445.7 million and total revenue falling 6.1%, as softer consumer mobile, broadband and entertainment segments outweighed gains in carrier, enterprise c...
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.