SIA ENGINEERING CO LTD (S59) Fair Value & Analysis
Industrials · SG · Market cap 3.9B SGD
Fair value as of: Aug 13, 2026
From 16 valuation models · updated 5 days ago
Share price −1.2% over the past month.
A solid business, but screening 45% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (3.01 SGD). The favourable scenario is already priced in.
- Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (1.40 SGD to 3.01 SGD) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range 1.83 SGD – 3.75 SGD · fair‑value band 1.40 SGD – 3.01 SGD · the 3.23 SGD price screens above the 1.77 SGD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.
Analysis
SIA ENGINEERING CO LTD (S59) currently trades at 3.23 SGD, while our model-based Fair Value estimate is 1.77 SGD, implying the stock looks roughly 45.2% overvalued today. The Quality Score stands at 57/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, SIA ENGINEERING CO LTD generated revenue of 1.4B SGD at a net margin of 11.9%. Revenue declined 1.0% year over year. It earns a return on equity of 9.7%. Net debt stands at 69.4M SGD. Fundamentals as of Aug 13, 2026
Our scenario range runs from 1.40 SGD (bear case) to 3.01 SGD (bull case); at 3.23 SGD, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 15% below its 52-week high and 8% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -27% fair-value upside, at -45%, S59 screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 16 models by family
Widest divergence: Growth Earnings (2.60 SGD) versus Economic Profit (0.3000 SGD). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 55 · Market factors (momentum, volatility) 54
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
SIA Engineering Company Limited, together with its subsidiaries, engages in the provision of maintenance, repair, and overhaul (MRO) services in Singapore, Philippines, Japan, Malaysia, Cambodia, and the United States of America. The company operates through Airframe and Line Maintenance; and Engine and Component segments.
Full company description
SIA Engineering Company Limited, together with its subsidiaries, engages in the provision of maintenance, repair, and overhaul (MRO) services in Singapore, Philippines, Japan, Malaysia, Cambodia, and the United States of America. The company operates through Airframe and Line Maintenance; and Engine and Component segments. The Airframe and Line Maintenance segment offers airframe maintenance, including scheduled routine maintenance and overhaul, specialized and non-routine maintenance, and modification, and refurbishment services; line maintenance that provides aircraft certification, and technical ground handling services, such as push-back and towing, as well as aircraft ground support equipment and rectification work; and inventory technical management which provide fleet technical management and inventory technical management services comprising engineering and MRO solutions. The Engine and Component segment provides component overhaul, and engine repair and overhaul services. It also provides repair and overhaul services for hydro-mechanical equipment for Boeing and Airbus aircraft; turnkey solutions for aircraft interior modifications; and aircraft maintenance services that consist of technical and non-technical handling at the airport. SIA Engineering Company Limited was incorporated in 1982 and is based in Singapore. The company operates as a subsidiary of Singapore Airlines Limited.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
SIA ENGINEERING CO LTD reported revenue of 1.4B SGD in FY2026 versus 566M SGD in FY2022, a compound +25.9%/yr. Reported net income was 169M SGD in FY2026, compounding +25.7%/yr from FY2022.
S59 screens 45% overvalued. Compare with Aena S.M.E., S.A →
Peer Group
Airports & Air Services · 54 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Airports & Air Services median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Airports & Air Services stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Aena S.M.E., S.A AENA | €26.84 | €26.90 | +0% |
| Airports of Thailand Public Company TATD | 2.43 SGD | 1.25 SGD | -49% |
| Grupo Aeroportuario del Pacífico, S.A. PAC | $214.96 | $250.60 | +17% |
| GMR Airports Limited GMRINFRA | ₹102.70 | ₹22.29 | -78% |
| Flughafen Zürich AG FHZN | CHF 231.40 | CHF 121.30 | -48% |
| Shanghai International Airport Co 600009 | ¥23.41 | ¥17.09 | -27% |
| Auckland International Airport Limited AIA | A$7.20 | A$2.77 | -62% |
| Fraport AG FRA | €66.85 | €49.83 | -25% |
| Københavns Lufthavne A/S KBHL | kr 5,440 | kr 1,821 | -67% |
| SATS Ltd S58 | 4.71 SGD | 4.03 SGD | -14% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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