2. Singapore Exchange (S68) – market infrastructure provider
Market cap: S$17.4 billion
Financial performance: SGX saw its full-year net profit rise 8.4% YoY to S$648 million for FY2025 (ended 30 June 2025). Earnings before interest, taxes, depreciation, and amortisation (EBITDA) came in 17.9% higher than FY2024, with earnings per share (EPS) at S$0.61 (up from S$0.57 the year before).
Dividend payout: SGX proposed a final quarterly dividend of 10.5 Singapore cents per share for Q4 2025, equivalent to a YoY increase of 16.7%. If approved, total FY2025 dividends will increase 8.7% to 37.5 Singapore cents.
Balance sheet: Net assets across the group at the end of FY2025 stood at S$2.2 billion, up from S$1.96 billion the year before. Cash and cash equivalents of the group was S$1.13 billion, up from S$998 million in FY2024. Group net asset value rose to S$2.06 per ordinary share, up from S$1.83 in FY2024.
Technical indicators: SGX’s share price rallied by as much as 30% this year, with its latest P/E ratio at 26.87 and P/B ratio at 7.87.
Company outlook: Group management said it will invest in key strategic areas in FY2026, including capability building and technology enhancements. Expenses are on track to increase by 4% to 6%. Capital expenditure is expected to increase to S$90 million to S$95 million (against FY 2025’s S$67.6 million).