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Singapore Airlines Limited

SINGY
48
Airlines, Airports & Air Services · Industrials
Exchange
Other OTC
Winston Score
48
Winston is serious
Mixed quality — meaningful strengths and weaknesses.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Good
Growth
Mixed
Cash Flow
Exceptional
Stability
Exceptional
Valuation
Mixed
Dividends
Good

Winston Score History

The full picture

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.

Growth Profile

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

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

Profit per sale
Gross Margin
100.0%
Premium pricing power — 100.0% gross margin
Profit after running costs
Operating Margin
1.8%
Thin — 1.8% operating margin
Return on the money invested
ROCE
8.3%
Below par — 8.3% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
+8.3%
Steady sales growth (+8.3% YoY)
Profit growth
EPS YoY
-64.4%
Earnings shrinking (-64.4% YoY)

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

How steady the profit is
EPS Consistency
2/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
620%
Turns 620% of profit into real cash
Spare cash per sale
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

What it owes vs what it owns
Debt / Equity
0.44
Conservative — low debt load (0.44)
Covers its interest
Interest Cover
100.00x
Comfortably covers interest (100.0x)

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

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Valuation

Price vs profit
P/E Ratio (TTM)
23.6x
no trend
Growth-priced — P/E 23.6

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

Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Dividend
Dividend Yield
5.00%
no trend
Healthy income — 5.00% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record
Dividend Growth
-7.5%
no trend
Dividend cut (-7.5% YoY) — warning sign

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