Singapore Exchange Limited (SPXCF) Stock Analysis
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
Singapore Exchange Limited (SPXCF) trades at $19.55 with AI Score 56/100 (Grade B). Singapore Exchange Limited (SPXCF) operates an integrated securities and derivatives exchange and related clearing houses. Market cap: $20.9B, Sector: Financial services.
Price as of Aug 21, 2026 · Last analyzed: Mar 16, 2026Analyst Coverage for SPXCF: SPXCF does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates SPXCF against Financial Services peers across nine fundamental dimensions and assigns a mixed fundamental profile based on the underlying data.
SPXCF: 1/3 scored disciplines lean bearish. Dominant signal: Ray Dalio bullish.
How is this calculated? →Why this analysis is different
- A 9-signal quantitative MoonshotScore built from filings, insider activity, and market data — computed from the numbers, not from opinion.
- An AI Council read across up to eight perspectives — value, macro, quantitative, and momentum lenses — that shows where they disagree instead of averaging the tension away.
- Figures come straight from FMP and Yahoo Finance filings data. The AI writes the narrative around the numbers — it never edits the numbers.
Singapore Exchange Limited (SPXCF) Financial Services Profile
Singapore Exchange Limited (SPXCF) is a leading exchange operator in Singapore, providing integrated services for securities, derivatives, and clearing. With a strong presence in fixed income, currencies, and commodities, the company leverages its platform to offer market data, connectivity, and index administration, contributing to a robust financial ecosystem.
What Is the Investment Thesis for SPXCF?
Singapore Exchange Limited presents a compelling investment case based on its dominant position in the Singaporean financial market. With a high gross margin of 94.6% and a return on equity of 30.1%, the company demonstrates strong profitability and efficiency. Growth catalysts include expanding its derivatives offerings and increasing its market data services. However, investors should be aware of potential risks, including regulatory changes and competition from other exchanges. The company's beta of 0.28 suggests low volatility compared to the broader market, making it a potentially stable investment.
Based on FMP financials and quantitative analysis
SPXCF Key Highlights
Market capitalization of $20.9B, reflecting its significant presence in the financial market.
- Profit margin of 45.7%, indicating strong profitability and efficient operations.
- Gross margin of 94.6%, showcasing its ability to maintain high revenue relative to the cost of goods sold.
- Return on Equity (ROE) of 30.1%, demonstrating efficient use of shareholder equity to generate profits.
- Debt-to-Equity (D/E) ratio of 29.89, suggesting a moderate level of financial leverage.
Who Are SPXCF's Competitors?
SPXCF is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| SPXCY Singapore Exchange Limited | $38.97 | -1.76% | $20.9B | 56 |
| EUXTF Euronext N.V. | $180.70 | +0.00% | $18.0B | 56 |
| CBOE Cboe Global Markets, Inc. | $280.75 | -3.52% | $29.4B | 54 |
| JPXGY Japan Exchange Group, Inc. | $13.87 | -1.42% | $14.2B | 53 |
| BOLSY B3 S.A. - Brasil, Bolsa, Balcão | $8.27 | -1.25% | $13.8B | 56 |
| FDS FactSet Research Systems Inc. | $300.06 | +0.66% | $10.7B | 90 |
| MSCI MSCI Inc. | $568.75 | +0.62% | $41.4B | 73 |
| TMXXF TMX Group Limited | $37.68 | -1.34% | $10.4B | 48 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are SPXCF's Key Strengths?
Strong market position in Singapore.
- Diversified revenue streams across securities, derivatives, and clearing services.
- High profit and gross margins.
- Integrated platform offering comprehensive solutions.
What Are SPXCF's Weaknesses?
Limited geographic diversification.
- Dependence on the Singaporean economy.
- Exposure to regulatory changes.
- Vulnerability to cyber security threats.
What Could Drive SPXCF Stock Higher?
Introduction of new derivative products linked to ESG factors, attracting socially responsible investors.
- Expansion of market data services to provide more comprehensive and customized data solutions.
- Strategic partnerships and acquisitions to expand product offerings and geographic reach.
- Enhancement of technology infrastructure to improve trading platform efficiency and reliability.
- Focus on sustainable finance initiatives, positioning SGX as a leader in ESG investing.
What Are the Key Risks for SPXCF?
Increased competition from other global exchanges and alternative trading platforms.
- Economic downturns and market volatility impacting trading volumes.
- Regulatory changes and compliance costs affecting profitability.
- Technological disruptions and cyber security threats.
- Dependence on the Singaporean economy and limited geographic diversification.
What Are the Growth Opportunities for SPXCF?
- Expansion of Derivatives Offerings: SGX can capitalize on the growing demand for derivatives products in Asia. By introducing new and innovative derivative contracts, particularly in areas such as ESG and digital assets, SGX can attract a wider range of investors and traders. Timeline: Ongoing.
- Increased Market Data Services: The demand for real-time and historical market data is increasing as investors and traders rely on data-driven decision-making. SGX can expand its market data services by offering more comprehensive and customized data solutions. This includes providing data analytics, index services, and connectivity solutions. The market for financial data is projected to grow, driven by the increasing complexity of financial markets. Timeline: Ongoing.
- Strategic Partnerships and Acquisitions: SGX can pursue strategic partnerships and acquisitions to expand its product offerings and geographic reach. Collaborating with other exchanges and technology providers can enhance its capabilities and attract new customers. Acquisitions can provide access to new markets and technologies. This strategy can accelerate SGX's growth and strengthen its competitive position. Timeline: Ongoing.
- Enhancement of Technology Infrastructure: Investing in advanced technology infrastructure is crucial for maintaining a competitive edge in the exchange industry. SGX can upgrade its trading platforms, clearing systems, and data analytics capabilities to improve efficiency and reliability. This includes adopting cloud computing, artificial intelligence, and blockchain technologies. Enhanced technology infrastructure can attract more trading volume and reduce operational costs. Timeline: Ongoing.
- Focus on Sustainable Finance: With the growing emphasis on environmental, social, and governance (ESG) factors, SGX can position itself as a leader in sustainable finance. This includes launching ESG-linked products, promoting sustainable investing practices, and providing ESG data and analytics. The market for sustainable investments is rapidly growing, offering significant opportunities for SGX. Timeline: Ongoing.
What Are SPXCF's Competitive Advantages?
- Network Effect: The exchange benefits from a strong network effect, where increasing trading volume attracts more participants, enhancing liquidity and price discovery.
- Regulatory Licenses: SGX holds regulatory licenses and approvals that are difficult to replicate, providing a barrier to entry for new competitors.
- Integrated Platform: The integrated nature of its securities, derivatives, and clearing services provides a comprehensive solution for market participants.
- Brand Reputation: SGX has a strong brand reputation as a reliable and trusted exchange operator in the region.
What Does SPXCF Do?
Incorporated in 1999, Singapore Exchange Limited (SGX) has evolved into a comprehensive financial marketplace. Originating as the Stock Exchange of Singapore, SGX demutualized and listed on its own exchange in 2000. Today, SGX operates an integrated platform encompassing securities, derivatives, and clearing services. Its segments include Fixed Income, Currencies and Commodities; Equities – Cash; Equities – Derivatives; and Platform and Others. SGX offers a wide array of services, including treasury management, market data, and connectivity solutions. It facilitates trading and clearing across various asset classes, providing settlement and depository management. The company's platform business delivers market data, indices, and membership subscriptions. SGX is also involved in providing bulk freight market indices and information, operating electronic foreign exchange (FX) trading platforms, and offering counterparty guarantee services. Headquartered in Singapore, SGX plays a crucial role in the region's financial infrastructure.
What Products and Services Does SPXCF Offer?
- Operates an integrated securities and derivatives exchange.
- Provides clearing house services for securities and derivatives transactions.
- Manages an electricity market in Singapore.
- Offers treasury management and administrative services.
- Provides market data and technology connectivity services.
- Facilitates securities settlement and collateral management.
- Distributes bulk freight market indices and information.
- Operates electronic foreign exchange (FX) trading platforms.
How Does SPXCF Make Money?
- Generates revenue from trading and clearing fees on securities and derivatives.
- Earns income from the sale of market data and connectivity services.
- Receives fees for listing services and membership subscriptions.
- Derives revenue from its platform businesses, including indices and FX trading platforms.
What Industry Does SPXCF Operate In?
Singapore Exchange Limited operates within the financial data and stock exchanges industry, which is characterized by increasing globalization and technological advancements. The industry is witnessing a shift towards electronic trading and demand for real-time market data. SGX competes with other global exchanges and faces competition from alternative trading platforms. The company's focus on expanding its derivatives and fixed income offerings positions it to capitalize on these trends. The financial data and stock exchange industry is expected to continue growing, driven by increasing trading volumes and demand for sophisticated financial products.
Who Are SPXCF's Key Customers?
- Institutional investors, including asset managers, hedge funds, and pension funds.
- Retail investors trading securities and derivatives.
- Corporations seeking to raise capital through listings.
- Market data vendors and financial information providers.
- Clearing members and trading participants.
Forward Outlook
Wall Street analysts project Singapore Exchange Limited revenue of about $1.50B for fiscal 2026, with EPS near $0.67. The estimate reflects 14 contributing analysts.
Earnings Track Record
Singapore Exchange Limited has beaten Wall Street's EPS estimate in 5 of its last 8 reported quarters — more hits than misses. Reported results have landed about 7.4% above estimates on average.
Financial Health
Singapore Exchange Limited's Piotroski F-Score is 8/9, a 9-point checklist of profitability, leverage and efficiency — signaling solid underlying fundamentals. Its Altman Z-Score of 10.39 places it in the safe zone, indicating low near-term bankruptcy risk.
Key Financial Metrics
Return on equity for Singapore Exchange Limited stands at 30.0%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is 15.3%, showing how much profit it generates from its asset base. SPXCF trades at a trailing price-to-earnings ratio of 38.73, above the Financial Services sector average of ~18x. Its free cash flow yield is 2.9%, a gauge of the cash the business throws off relative to its market value. A current ratio of 5.25 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is 2.6%, the inverse of the P/E and a quick read on earnings relative to price.
Singapore Exchange Limited (SPXCF) Valuation Context
Valued at $20.9B, SPXCF is classified as a large-cap stock. Relative to its peer group, SPXCF's quantitative score of 56/100 is roughly in line with the peer average of 55/100.
SPXCF Revenue & Earnings Trend
In Q2 2026, SPXCF generated $821.8M in top-line revenue, marking a sequential increase of 11.7%. The company recorded net income of $355.1M, with diluted EPS of $0.34. Revenue has increased across the last three reported quarters, suggesting sustained momentum for this large-cap Financial Services company. Across the four most recent quarters, SPXCF averaged $0.32 in diluted EPS.
Company Profile
Singapore Exchange Limited operates in the Financial - Data & Stock Exchanges industry within the Financial Services sector. It is headquartered in Singapore, SG. The company is led by CEO Boon Chye Loh. SPXCF has traded publicly since 2008.
SPXCF Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2026
Bull Case vs Bear Case
Bull Case
- Strong market position in Singapore.
- Diversified revenue streams across securities, derivatives, and clearing services.
- High profit and gross margins.
- Integrated platform offering comprehensive solutions.
Bear Case
- Limited geographic diversification.
- Dependence on the Singaporean economy.
- Exposure to regulatory changes.
- Vulnerability to cyber security threats.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · August 2026
Recent Quarterly Results
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q2 2026 | $822M | $355M | $0.34 |
| Q4 2025 | $736M | $342M | $0.32 |
| Q2 2025 | $688M | $308M | $0.29 |
| Q4 2024 | $682M | $340M | $0.32 |
Based on FMP financials and quantitative analysis
SPXCF Latest News
No recent news available for SPXCF.
SPXCF Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for SPXCF.
Price Targets
Wall Street price target analysis for SPXCF.
SPXCF MoonshotScore
What does this score mean?
The MoonshotScore rates SPXCF 0-100 on quantitative fundamentals — growth, financial health, valuation, momentum, and risk.
SPXCF OTC Market Information
The OTCQX tier represents the highest tier of the OTC market, signifying that Singapore Exchange Limited meets specific financial standards and undergoes a qualitative review process. Companies on OTCQX are distinguished from those on lower tiers (OTCQB and Pink) by their commitment to providing current and audited financial disclosures, enhancing transparency for investors. Unlike NYSE or NASDAQ listings, OTCQX companies are not subject to the same stringent listing requirements, but they still offer a level of credibility and visibility not found on the unverified Pink market.
- OTC Tier: OTC Other
- Lower Liquidity: OTC markets generally have lower trading volumes, which can lead to difficulty in buying or selling shares quickly.
- Limited Regulatory Oversight: OTCQX has less stringent regulatory requirements compared to major exchanges, potentially increasing the risk of fraud or mismanagement.
- Information Asymmetry: The availability of information may be less comprehensive compared to listed companies, making it harder to conduct thorough due diligence.
- Price Volatility: Due to lower liquidity and potentially less market maker activity, OTC stocks can experience higher price volatility.
- Delisting Risk: Failure to meet OTCQX standards can result in delisting to a lower tier, further reducing liquidity and investor confidence.
- Verify the company's financial statements and audit reports.
- Review the company's filings and disclosures on the OTC Markets Group website.
- Research the company's management team and their track record.
- Assess the company's business model and competitive landscape.
- Monitor trading volume and bid-ask spreads to gauge liquidity.
- Understand the risks associated with OTC trading.
- Consult with a financial advisor.
- OTCQX Tier: Trading on the OTCQX tier indicates that the company meets certain financial standards and disclosure requirements.
- Current Disclosure Status: Maintaining a 'Current' disclosure status signals a commitment to transparency and ongoing communication with investors.
- Established Business Operations: Singapore Exchange Limited is an established company with a long operating history.
- Regulatory Oversight: While less stringent than major exchanges, OTCQX still requires some level of regulatory compliance.
- Independent Audit: The company's financial statements are subject to independent audit, providing some assurance of accuracy.
Common Questions About SPXCF (Financial Services)
What does the AI Score mean for SPXCF?
SPXCF holds an AI Score of 56/100 (Grade: B). This is an educational research signal, not a buy or sell recommendation. Singapore Exchange Limited (SPXCF) operates an integrated securities and derivatives exchange and related clearing houses. It also manages an electricity market in Singapore, providing a range …
What does Singapore Exchange Limited do?
Singapore Exchange Limited (SGX) operates as an integrated securities and derivatives exchange in Singapore. It provides a platform for trading and clearing a wide range of financial instruments, including equities, fixed income, currencies, and commodities. SGX also offers market data, connectivity, and index administration services.
What are the main risks for SPXCF?
The main risks for Singapore Exchange Limited include increased competition from other global exchanges, economic downturns impacting trading volumes, and regulatory changes affecting profitability. Technological disruptions and cyber security threats also pose significant risks. Additionally, the company's dependence on the Singaporean economy and limited geographic diversification could expose it to regional economic shocks. Investors should carefully consider these risks before investing in SPXCF.
How is Singapore Exchange Limited adapting to fintech disruption?
Singapore Exchange Limited is actively adapting to fintech disruption by investing in technology infrastructure and exploring new digital solutions. This includes upgrading its trading platforms, enhancing its data analytics capabilities, and adopting cloud computing and blockchain technologies. SGX is also collaborating with fintech companies to develop innovative products and services.
What regulatory challenges does Singapore Exchange Limited face?
Singapore Exchange Limited faces several regulatory challenges, including compliance with securities laws, anti-money laundering regulations, and data privacy requirements. The Monetary Authority of Singapore (MAS) oversees SGX and imposes strict regulatory standards to ensure market integrity and investor protection. Changes in regulations, such as those related to trading practices or capital requirements, can impact SGX's operations and profitability.
What are the key factors to evaluate for SPXCF?
Singapore Exchange Limited (SPXCF) holds an AI score of 56/100 (moderate). Singapore Exchange Limited presents a compelling investment case based on its dominant position in the Singaporean financial market. Not financial advice.
How frequently does SPXCF data refresh on this page?
SPXCF's price was last updated on Aug 21, 2026 and refreshes on page view during U.S. market hours — it is not a real-time exchange feed. Fundamentals update after quarterly filings; the MoonshotScore recalculates nightly; news aggregates continuously.
What has driven SPXCF's recent stock price performance?
Singapore Exchange Limited (SPXCF) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Strong market position in Singapore. See the News tab for the latest drivers. Past performance does not predict future results.
Should investors consider SPXCF overvalued or undervalued right now?
Singapore Exchange Limited (SPXCF) has no trailing P/E available here, so lean on price-to-sales and cash flow in the Financials tab. Compare P/E, P/S, and EV/EBITDA against sector peers for a full view.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Financial data is based on the most recent available information.
- OTC analysis is based on general knowledge of OTC markets and may not reflect specific details about SPXCF.
- AI insight is pending and not included in this analysis.