Singapore Exchange Ltd

S68: XSES (SGP)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	SGD 56.30	Pykr	Nhbsrbv

SGX Earnings: Volatility Remains the Core Driver

Roy Van Keulen

Aug 8, 2024

We increase our fair value estimate for wide-moat Singapore Exchange by 2% to SGD 12.70 following full-year results. Adjusted net profit after tax of SGD 526 million was in line with our expectations, up 5% on the prior corresponding period, or PCP.

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