Singapore Airlines Limited

SINGY

Airlines, Airports & Air Services · Industrials

Price

$11.83

-0.06 (-0.50%)

Market Cap

$18.64B

Exchange

Other OTC

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 9, 2026 · filings through Jun 30, 2026

Share count rising — dilution

+4.2% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 1.48B (2022) → 1.55B (2026)

Singapore Airlines is the national airline of Singapore and one of the most recognized carriers in the world. It flies passengers and cargo to more than 100 destinations across Asia, Europe, the Americas, Australia, and beyond. The airline is known for its premium service and operates several brands, including SilkAir and the budget carrier Scoot, serving both business travelers and leisure passengers.

The company earns money primarily through ticket sales, cargo shipping fees, and ancillary services like in-flight purchases and loyalty programs. Singapore Airlines is majority-owned by the Singapore government through Temasek Holdings, which provides financial stability but limits some strategic flexibility. The airline's main competitive advantages are its strong brand reputation and its hub at Changi Airport, one of the busiest and most efficient airports in the world. The key risks it faces include volatile jet fuel prices, intense competition from Gulf carriers and low-cost rivals, and sensitivity to global economic slowdowns that reduce travel demand.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+6.4% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+7.7% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

1.2%ownership

Relatively low insider ownership

Cash Position

Cash flow positive

$12.7B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Singapore Airlines Limited is growing revenue at 6% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

100.0%

Premium pricing power — 100.0% gross margin

Operating Margin

1.8%

Thin — 1.8% operating margin

ROCE

0.4%

Weak — 0.4% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

+8.3%

Steady sales growth (+8.3% YoY)

EPS YoY

-64.4%

Earnings shrinking (-64.4% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

620%

Turns 620% of profit into real cash

FCF Margin

13.8%

Converts sales into free cash efficiently (13.8%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

Debt / Equity

0.44

Conservative — low debt load (0.44)

Interest Cover

100.00x

—

Comfortably covers interest (100.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

20.1x

Growth-priced — P/E 20.1

P/E above the market average. People are paying up for expected growth.

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend Yield

5.00%

Healthy income — 5.00% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend Growth

-7.5%

Dividend cut (-7.5% YoY) — warning sign

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