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Singapore Shipping Corporation Limited
(SGX:S19)
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Rating:74Outperform
Price Target:
S$0.35
▲(15.67% Upside)
Action:Reiterated
Date:07/01/26
The score is driven primarily by strong financial performance (high margins, improving leverage, and solid cash conversion). Offsetting this is recent top-line and free-cash-flow contraction, alongside a valuation that looks only average for a cyclical industry. Technicals add mild support with the stock slightly above major moving averages, but limited momentum data constrains conviction.
Positive Factors
High profitability / margins
Sustained, very high EBITDA and net margins indicate durable operational efficiency and favorable charter economics. Over 2–6 months this supports internal funding for maintenance and dividends, cushions earnings through rate swings, and underpins returns even if top-line weakens.
Negative Factors
Revenue contraction / cyclicality
A sharp year‑over‑year revenue decline reflects weaker charter demand or utilization. For a shipping operator, sustained or repeated top-line drops can erode utilization economics and limit ability to cover fixed vessel costs, pressuring margins and investment plans.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability / margins
Sustained, very high EBITDA and net margins indicate durable operational efficiency and favorable charter economics. Over 2–6 months this supports internal funding for maintenance and dividends, cushions earnings through rate swings, and underpins returns even if top-line weakens.
Read all positive factors
Singapore Shipping Corporation Limited (S19) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$120.94M
Dividend Yield3.33%
Average Volume (3M)130.77K
Price to Earnings (P/E)6.6
Beta (1Y)0.51
Revenue Growth0.39%
EPS Growth39.21%
CountrySG
Employees110
SectorIndustrials
Sector Strength72
IndustryMarine Shipping
Share Statistics
EPS (TTM)0.03
Shares Outstanding410,627,170
10 Day Avg. Volume126,290
30 Day Avg. Volume130,773
Financial Highlights & Ratios
PEG Ratio0.12
Price to Book (P/B)0.63
Price to Sales (P/S)1.78
P/FCF Ratio4.11
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Singapore Shipping Corporation Limited Business Overview & Revenue Model
Company Description
Singapore Shipping Corporation Limited functions as an investment holding entity, engaging in both the ownership and management of maritime vessels. Operating globally with a significant presence in Singapore and Japan, the company structures its ...
How the Company Makes Money
The company primarily makes money by earning income from the commercial employment of its vessels. Key revenue streams typically include: (1) Charter hire income, where SSC leases out vessels to customers under time charters (earning a daily/month...
Singapore Shipping Corporation Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
84
Very Positive
Cash Flow
81
Very Positive
| Breakdown | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 50.59M | 48.55M | 45.49M | 47.37M | 45.81M |
| Gross Profit | 14.45M | 11.10M | 9.59M | 11.60M | 11.24M |
| EBITDA | 25.06M | 20.49M | 18.37M | 21.05M | 19.25M |
| Net Income | 16.41M | 11.38M | 9.14M | 11.51M | 9.83M |
Balance Sheet | |||||
| Total Assets | 203.52M | 192.90M | 189.10M | 187.28M | 178.84M |
| Cash, Cash Equivalents and Short-Term Investments | 98.82M | 80.01M | 68.55M | 61.31M | 50.15M |
| Total Debt | 19.08M | 24.80M | 29.29M | 34.91M | 39.83M |
| Total Liabilities | 59.37M | 62.07M | 65.78M | 69.47M | 72.94M |
| Stockholders Equity | 144.15M | 130.83M | 123.32M | 117.81M | 105.90M |
Cash Flow | |||||
| Free Cash Flow | 21.95M | 17.70M | 15.20M | 18.05M | 20.17M |
| Operating Cash Flow | 23.18M | 20.49M | 17.34M | 20.03M | 21.14M |
| Investing Cash Flow | -69.70M | 40.25M | -21.23M | 140.00K | -3.85M |
| Financing Cash Flow | -9.62M | -9.71M | -10.11M | -7.99M | -11.38M |
Singapore Shipping Corporation Limited Technical Analysis
Negative
0.30
Price Trends
0.30
Negative
0.30
Negative
0.30
Negative
Market Momentum
>-0.01
Positive
40.28
Neutral
50.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:S19, the sentiment is Negative. The current price of 0.3 is below the 20-day moving average (MA) of 0.30, below the 50-day MA of 0.30, and below the 200-day MA of 0.30, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 40.28 is Neutral, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SG:S19.
Singapore Shipping Corporation Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | S$120.94M | 6.59 | 6.83% | 3.33% | 0.39% | 39.21% | |
72 Outperform | S$504.38M | 11.44 | 4.77% | 0.60% | 25.71% | 175.44% | |
69 Neutral | S$513.83M | 5.19 | 11.14% | 7.98% | 11.38% | 6.33% | |
65 Neutral | S$339.58M | 11.24 | 12.68% | 0.78% | ― | ― | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
60 Neutral | S$501.59M | 56.50 | 0.75% | ― | 12.19% | ― |
* Industrials Sector Average
SG:S19
Singapore Shipping Corporation Limited
0.30
0.01
3.81%
SG:5LY
Marco Polo Marine Ltd.
0.13
0.07
135.19%
SG:A04
ASL Marine Holdings Ltd.
0.34
0.27
407.58%
SG:CHJ
Uni-Asia Group Ltd.
0.93
0.13
16.21%
SG:F83
COSCO Shipping International Singapore Co Ltd
0.11
-0.02
-12.40%
SG:S56
Samudera Shipping Line Ltd
0.96
0.08
9.39%
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.