SBS Transit Ltd (SG:S61)
SGX:S61
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SBS Transit Ltd
(SGX:S61)
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Rating:71Outperform
Price Target:
S$4.00
â–²(25.39% Upside)
Action:Reiterated
Date:02/26/26
The score is driven primarily by strong financial resilience (especially very low leverage and steady profitability) and an attractive dividend yield. This is tempered by overbought technical signals and a mature growth profile with modest revenue momentum and some margin pressure.
Positive Factors
Balance Sheet Strength
Very low leverage and a substantial equity base give the company lasting financial flexibility to fund capital expenditure, absorb operational shocks, and support service obligations under long-term transport contracts without relying on costly external debt.
Negative Factors
Limited Revenue Growth
A mature operations footprint and regulated pricing environment limit organic top-line expansion; subdued or negative revenue trends constrain the company’s ability to grow earnings from operations without new contract awards or scope expansion.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance Sheet Strength
Very low leverage and a substantial equity base give the company lasting financial flexibility to fund capital expenditure, absorb operational shocks, and support service obligations under long-term transport contracts without relying on costly external debt.
Read all positive factors
SBS Transit Ltd (S61) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$1.19B
Dividend Yield8.85%
Average Volume (3M)90.60K
Price to Earnings (P/E)23.9
Beta (1Y)0.30
Revenue Growth-2.72%
EPS Growth-13.06%
CountrySG
Employees9,609
SectorIndustrials
Sector Strength72
IndustryRailroads
Share Statistics
EPS (TTM)0.22
Shares Outstanding313,134,520
10 Day Avg. Volume64,900
30 Day Avg. Volume90,603
Financial Highlights & Ratios
PEG Ratio-1.23
Price to Book (P/B)1.47
Price to Sales (P/S)0.66
P/FCF Ratio9.01
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
SBS Transit Ltd Business Overview & Revenue Model
Company Description
SBS Transit Ltd, established in Singapore in 1973, is a major public transportation provider in the island nation, operating primarily through its Public Transport Services and Other Commercial Services divisions. The company runs scheduled bus se...
How the Company Makes Money
SBS Transit primarily makes money by operating public transport services under contractual arrangements and collecting regulated transport-related income. Key revenue streams include: (1) Public bus operations: SBS Transit runs bus routes as a con...
SBS Transit Ltd Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
86
Very Positive
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.52B | 1.52B | 1.56B | 1.53B | 1.52B | 1.31B |
| Gross Profit | -345.22M | 268.26M | 198.93M | 169.19M | 163.32M | 179.78M |
| EBITDA | 154.40M | 150.63M | 171.39M | 183.85M | 186.01M | 159.19M |
| Net Income | 67.69M | 61.20M | 70.30M | 69.08M | 68.02M | 51.63M |
Balance Sheet | ||||||
| Total Assets | 1.07B | 1.09B | 1.16B | 1.17B | 1.21B | 1.15B |
| Cash, Cash Equivalents and Short-Term Investments | 340.79M | 384.32M | 384.99M | 371.96M | 345.30M | 204.03M |
| Total Debt | 12.02M | 11.74M | 17.71M | 19.31M | 79.12M | 91.61M |
| Total Liabilities | 389.85M | 410.42M | 441.19M | 490.11M | 566.90M | 552.22M |
| Stockholders Equity | 678.65M | 681.86M | 719.47M | 682.08M | 644.29M | 601.57M |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 111.00M | 21.50M | 59.21M | 171.88M | 191.24M |
| Operating Cash Flow | 0.00 | 135.28M | 41.85M | 74.87M | 182.57M | 224.34M |
| Investing Cash Flow | 0.00 | -23.84M | 18.08M | -2.78M | -6.27M | -32.54M |
| Financing Cash Flow | 0.00 | -112.10M | -46.91M | -45.44M | -35.03M | -73.33M |
SBS Transit Ltd Technical Analysis
Positive
3.19
Price Trends
3.61
Positive
3.45
Positive
3.17
Positive
Market Momentum
0.07
Negative
68.48
Neutral
84.44
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:S61, the sentiment is Positive. The current price of 3.19 is below the 20-day moving average (MA) of 3.59, below the 50-day MA of 3.61, and above the 200-day MA of 3.17, indicating a bullish trend. The MACD of 0.07 indicates Negative momentum. The RSI at 68.48 is Neutral, neither overbought nor oversold. The STOCH value of 84.44 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:S61.
SBS Transit Ltd Peers Comparison
UnderperformOutperform
Sector (63)
SG:S61
SBS Transit Ltd
3.81
1.41
58.62%
SG:C52
Comfortdelgro
1.30
-0.04
-2.99%
SBS Transit Ltd Corporate Events
SBS Transit AGM Underscores Competitive Landscape, Capital Discipline and Tender Strategy
May 13, 2026
SBS Transit’s latest annual general meeting highlighted its position as Singapore’s largest public bus operator with about 57% market share in a structurally competitive, regulated environment designed by the Land Transport Authority t...
SBS Transit lifts ridership, expands network as Q1 revenue climbs
May 8, 2026
SBS Transit reported higher ridership and continued network expansion in the first quarter of 2026, with average daily passengers on the North East and Downtown lines rising about 2–3 percent year-on-year and sequentially. The company introd...
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.