Definitive Analysis
Definitive Analysis

Financial Statements

Analysis Mode

Ticker

Industry

Sector

Singapore Exchange Limited (S68.SI)

Company Dividend Discount ModelIndustry: Financial - Data & Stock ExchangesSector: Financial Services

Valuation Snapshot

Stable Growth$27.27 - $75.52$42.25
Multi-Stage$27.45 - $30.08$28.74
Blended Fair Value$35.49
Current Price$14.88
Upside138.53%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS3.71%2.54%0.350.340.320.320.320.300.370.280.280.31
YoY Growth--5.59%6.04%0.56%-0.08%6.63%-19.98%33.86%0.00%-9.73%10.76%
Dividend Yield--2.39%3.58%3.30%3.33%2.82%3.55%4.69%3.85%3.76%4.01%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)1,245.89
(-) Cash Dividends Paid (M)557.84
(=) Cash Retained (M)688.05
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)249.18155.7493.44
Cash Retained (M)688.05688.05688.05
(-) Cash Required (M)-249.18-155.74-93.44
(=) Excess Retained (M)438.87532.31594.61
(/) Shares Outstanding (M)1,085.811,085.811,085.81
(=) Excess Retained per Share0.400.490.55
LTM Dividend per Share0.510.510.51
(+) Excess Retained per Share0.400.490.55
(=) Adjusted Dividend0.921.001.06
WACC / Discount Rate6.90%6.90%6.90%
Growth Rate3.42%4.42%5.42%
Fair Value$27.27$42.25$75.52
Upside / Downside83.25%183.92%407.55%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)1,245.891,300.961,358.461,418.501,481.201,546.671,593.07
Payout Ratio44.77%53.82%62.86%71.91%80.95%90.00%92.50%
Projected Dividends (M)557.84700.17853.991,020.041,199.111,392.001,473.59

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate6.90%6.90%6.90%
Growth Rate3.42%4.42%5.42%
Year 1 PV (M)648.70654.97661.24
Year 2 PV (M)733.04747.29761.67
Year 3 PV (M)811.20834.96859.18
Year 4 PV (M)883.50918.17953.85
Year 5 PV (M)950.22997.061,045.73
PV of Terminal Value (M)25,782.7727,053.6228,374.09
Equity Value (M)29,809.4331,206.0732,655.76
Shares Outstanding (M)1,085.811,085.811,085.81
Fair Value$27.45$28.74$30.08
Upside / Downside84.50%93.14%102.12%

High-Yield Dividend Screener

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