EN DE
Check 35,000+ stocks against 26 valuation models and 37 quality factors
Data-driven stock valuation

Singapore Airlines Limited (SIA19) fair value: what the stock is really worth

As of Sep 29, 2026: fair value of Singapore Airlines Limited THB 24.75, price THB 17.50, upside +41.5%, quality 52 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? Yes
  3. Add to watchlist

Industrials · TH

SA Singapore Airlines Limited logo Thin data Sep 24, 2026

Singapore Airlines Limited

SIA19 · BK

UndervaluedThe stock appears undervalued with acceptable quality.

✓Fair value 24.75 THB · Undervalued (+41.5%)
!Quality 52/100
!Mixed Growth (revenue 3y +4.9 %/yr)
!Thin margins · 5.8% net margin (TTM)
✓Low debt · generates free cash flow
✓1.5% dividend yield · Sustainable
✓Ranks above peers (10/14)
!Narrow moat 40/100
!Evidence only low, so the estimate is less certain
!Weak on past: 29 out of 100
Watch Singapore Airlines Limited for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card. Watch for free Pro now: $1 first month

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

19.55 THB 13.24 THB Fair Value 24.75 THB Sep 2023 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

36‑month range 13.24 THB – 19.55 THB · fair‑value band 18.57 THB – 30.94 THB · the 17.50 THB price screens below the 24.75 THB fair value. Dashed = 300-day average. As of Sep 24, 2026.

Follow Singapore Airlines in your weekly email

Every Wednesday you see whether Singapore Airlines is on track or worth a review, plus price against fair value. Free, up to 3 stocks.

We send you a confirmation link. Unsubscribe with one click.

Which stocks are undervalued right now? Check free Discover now →

Company profile

Singapore Airlines Limited, together with subsidiaries, provides passenger and cargo air transportation services under the Singapore Airlines and Scoot brands in East Asia, Europe, South West Pacific, the Americas, West Asia and Africa, and internationally.

Show more

Singapore Airlines Limited, together with subsidiaries, provides passenger and cargo air transportation services under the Singapore Airlines and Scoot brands in East Asia, Europe, South West Pacific, the Americas, West Asia and Africa, and internationally. It operates through The Full-Service Carrier, The Low-Cost Carrier, and Engineering Services segments. The company offers engineering services, pilot training services, air charters, and related services; tour activities; refurbishes aircraft galleys; payment and lifestyle reward app; and sells merchandise. It also provides aircraft maintenance services, including technical and non-technical handling at the airport; line maintenance services; maintenance, repair, and overhaul of aircraft and cabin components/systems; fleet management; repair and overhaul of hydromechanical equipment; aviation insurance; and airframe maintenance and overhaul services, as well as manufactures aircraft cabin equipment and tooling for the aerospace industry. In addition, the company offers marketing and supporting portal services for the air cargo industry, as well as travel-related retail services; and payment and related services. Further, it provides travel booking and related services through an online portal; marketing of cargo community system; corporate support; aviation insurance; and educational support services. Singapore Airlines Limited was founded in 1947 and is based in Singapore.

Stock analysis

Singapore Airlines Limited (SIA19) currently trades at 17.50 THB, while our model-based Fair Value estimate is 24.75 THB, implying the stock looks roughly 29.3% undervalued today.

Show more

Valuation

Bull case: the Multiples group reads highest at a median of 206.76 THB per share, and 23 of the 23 models we run sit above the 17.50 THB price.

Bear case: the Asset-Based group reads lowest at 96.18 THB, and 0 of the 23 models stay below the price. Evidence for this calculation is low.

Scenario range: 18.57 THB (bear) to 30.94 THB (bull), the price of 17.50 THB sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 52/100 (solid quality), in the Industrials sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Singapore Airlines Limited reported revenue of 20.5B SGD in FY2026 versus 17.8B SGD in FY2023, a compound +4.9%/yr. Reported net income was 1.2B SGD in FY2026, compounding −18.1%/yr from FY2023.

Key figures

Market cap 55.1B THB (≈ $1.6B) · P/E ratio 2.3 · P/S ratio 0.13 · EPS (TTM) 7.66 THB · Dividend yield 1.5% · Net margin 5.8% · Return on equity 7.3% · Return on assets (EBIT) 5.3%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 37 out of 100 (medium confidence).

What moves the price

The share trades about 10% below its 52-week high and 18% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Industrials peers we cover trades at 34% fair-value upside, at 41%, SIA19 screens cheaper than that median.

Fair Value models

Bear 18.57 THB Fair Value 24.75 THB Bull 30.94 THB
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (3.77 THB per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
FCF DCF 213.71 THB 287.43 THB 380.82 THB 78
Growth DCF 216.40 THB 282.43 THB 361.92 THB 77
Owner Earnings 110.46 THB 145.19 THB 189.19 THB 75
All 23 models by family
DCF Models
FCF DCF 213.71 THB 287.43 THB 380.82 THB 78
Owner Earnings 110.46 THB 145.19 THB 189.19 THB 75
5Y Revenue Exit 201.74 THB 292.26 THB 403.93 THB 70
5Y EBITDA Exit 308.09 THB 484.21 THB 683.81 THB 72
5Y P/E Exit 178.72 THB 250.72 THB 322.58 THB 69
10Y Revenue Exit 200.22 THB 277.75 THB 374.46 THB 65
10Y EBITDA Exit 265.92 THB 397.22 THB 563.26 THB 65
10Y P/E Exit 191.54 THB 251.90 THB 319.59 THB 62
Earnings-Based
Graham-Dodd 66.95 THB 173.10 THB 225.53 THB 62
PEG = 1.0 32.67 THB 46.67 THB 60.67 THB 55
EPV 147.90 THB 165.55 THB 180.26 THB 71
Multiples
P/E Multiple 155.07 THB 206.76 THB 258.46 THB 63
P/S Multiple 125.54 THB 167.38 THB 209.23 THB 58
P/B Multiple 125.54 THB 167.38 THB 209.23 THB 55
EV/EBIT 279.58 THB 366.62 THB 453.66 THB 66
EV/EBITDA 424.20 THB 559.44 THB 694.68 THB 67
EV/Revenue 204.83 THB 284.70 THB 364.57 THB 54
Asset-Based
NCAV (Graham) 71.77 THB 96.18 THB 143.55 THB 54
Growth DCF
Growth DCF 216.40 THB 282.43 THB 361.92 THB 77
Rev-Margin DCF 201.74 THB 294.54 THB 396.69 THB 70
Economic Profit
Residual Income 109.99 THB 112.37 THB 120.51 THB 73
ROIC Compounder 148.60 THB 172.33 THB 198.19 THB 69
Growth Earnings
Growth-Adj P/E 120.72 THB 172.46 THB 224.19 THB 65

Open the full fair value analysis →

Notify me when SIA19 reaches fair value

Put SIA19 on your watchlist. We get in touch as soon as price and fair value meet or the trend turns.

Set up alert →

Quality Score breakdown

Overall quality 52/100

Of which business quality 52 · Market factors (momentum, volatility) 63

Profitability 31
Margins and returns on capital today
Quality Growth 44
Are margins and returns improving?
Cashflow 65
Earnings quality: real cash, not paper profit
Fin. Strength 59
Balance sheet, leverage, solvency risk
Investment 79
Disciplined investing over empire-building
Low Volatility 99
Calm price path (market factor)
Momentum 46
Price trend over the last 3–12 months (market factor)
52W Momentum 52
Distance to the 52-week high (market factor)
Net Issuance 42
Share count: buybacks or dilution?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 69/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+5.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.9%
What shareholders gained per year (last 3 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
−3.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year−4.6%
Dividend (yield on the price)1.5%
Profit margin 2023 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.15% → 12%

Watch SIA19, get fair value alerts →

Compare Singapore Airlines Limited with another stock

Price, fair value, quality and upside side by side.

Free, no sign-up

Peer Groupⓘ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.Airlines · 52 stocks

Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score 52 · Above median
Fair Value upside +18.3% · Above median
Profitability
Return on equity (TTM) 7.3% · Below median
Return on assets 3.4% · Above median
Net margin (TTM) 5.8% · Above median
Operating margin (TTM) 14.5% · Top 25%
Growth and dividend
Revenue growth 8.0% · Below median
Dividend yield (TTM) 1.5% · Bottom 25%
Balance sheet
Debt / equity 0.33× · Lowest 25%

Valuation Multiplesvs Airlines median · lower = cheaper

P/E (TTM) 2.3× · Cheapest 25%
P/B 0.12× · Cheapest 25%
P/S (TTM) 0.10× · Cheapest 25%
P/FCF 0.9× · Cheapest 25%
PEG 1.53× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)58 · sector 52
FUTURE (revenue growth)40 · sector 70
PAST (return on equity)29 · sector 50
HEALTH (low debt)83 · sector 67
DIVIDEND (yield)31 · sector 50

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Airlines stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Delta Air Lines, Inc DAL $84.13 $121.83 +45%
United Airlines Holdings UAL $111.51 $149.61 +34%
Ryanair Holdings RYA €23.79 €48.63 +104%
Southwest Airlines Co LUV $42.28 $14.74 −65%
InterGlobe Aviation Limited INDIGO ₹4,940 ₹3,073 −38%
LATAM Airlines Group LTM $52.45 $106.79 +104%
China Southern Airlines Company 600029 ¥4.86 ¥2.78 −43%
Cathay Pacific Airways Limited 0293 HK$14.37 HK$31.02 +116%
Deutsche Lufthansa AG LHA €7.60 €9.90 +30%
Qantas Airways Limited QAN A$8.93 A$9.69 +9%

Explore undervalued stocks

More undervalued Industrials stocks →

All undervalued stocks TechnologyFinancial ServicesHealthcareConsumer CyclicalConsumer DefensiveCommunication ServicesIndustrialsEnergyBasic MaterialsReal EstateUtilities Deeply Undervalued StocksUndervalued High-Quality StocksUndervalued Blue-Chip StocksUndervalued Small-Cap StocksUndervalued Dividend Stocks

Try a ready-made strategy

Pick a strategy and jump into the live analysis with that exact screen applied.

🥇 Backtested Best 🏆 Big Names ⭐ Top Rated 💎 Quality on Sale 🚀 Profitable Growth 🧊 Quality Compounders 💵 Dividend Stars 📈 Strong Momentum 📉 Fallen Angels ⚖️ Deeply Undervalued 🔍 Small-Cap Gems 🏰 Moat at a Fair Price 💼 Insider Buying 🎩 Buffett-Style Quality 📚 Peter Lynch GARP 🧮 Greenblatt Magic Formula 🛡️ Graham Defensive

Discover tools

Stock screenerFilter by region, size and sector Compare toolTwo stocks side by side Extrinsic Value Calculator…Calculator with industry benchmark Peter Lynch Fair Value Formula &…Calculator with industry benchmark
Run the numbers yourself: free valuation calculators
DCF CalculatorGraham NumberPeter Lynch FormulaDDM CalculatorFama-French ModelIntrinsic Value
For bloggers & editors: embed code + live data

For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.

Singapore Airlines Limited · Fair Value
24.75 THB +29%Fair Value
Calculator →

Cite: Fair Value Calculator (2026). "Singapore Airlines Limited Fair Value". https://www.fairvalue-calculator.com/stock/SIA19

Frequently asked questions

Is Singapore Airlines Limited (SIA19) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 24.75 THB versus a price of 17.50 THB, about +41% upside (undervalued).
What is the fair value of SIA19?
Our model-based fair value for Singapore Airlines Limited is 24.75 THB (as of Sep 24, 2026), built from audited fundamentals. The current price: 17.50 THB.
What is the quality score of SIA19?
Singapore Airlines Limited has a Quality Score of 52/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Singapore Airlines Limited (SIA19)?
Our model-based price target is the fair value of 24.75 THB (as of Sep 24, 2026) from 23 valuation models. Cautious scenario 18.57 THB, optimistic scenario 30.94 THB. It is a calculation from audited fundamentals, not an analyst target.
What is the Singapore Airlines Limited stock forecast for 2026?
Our models put fair value at 24.75 THB, about +41% upside versus a price of 17.50 THB (undervalued). Cautious scenario 18.57 THB, optimistic scenario 30.94 THB. The calculation is refreshed regularly with new filings.
What is the revenue of Singapore Airlines Limited (SIA19)?
Singapore Airlines Limited reported trailing-twelve-month revenue of about 20.5B SGD (latest available figure, as of Sep 24, 2026).
Does Singapore Airlines Limited pay a dividend?
Singapore Airlines Limited currently shows a dividend yield of about 1.54% relative to its recent price (as of Sep 24, 2026).
What is the intrinsic value of Singapore Airlines Limited (SIA19)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Singapore Airlines Limited it is 24.75 THB per share (as of Sep 24, 2026), against a price of 17.50 THB. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is Singapore Airlines Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, SIA19 trades below its calculated fair value: price 17.50 THB, fair value 24.75 THB, a gap of about +41% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of SIA19?
No. The price is what the market pays today (17.50 THB); the fair value is what the company's own numbers justify (24.75 THB). For Singapore Airlines Limited the two are 7.25 THB per share apart. That gap is exactly why we show both numbers side by side.
How much is Singapore Airlines Limited worth?
The market values Singapore Airlines Limited at about 55.1B THB (market capitalisation, as of Sep 24, 2026). Per share that is 17.50 THB; our models calculate a fair value of 24.75 THB per share.
What do the bullish and bearish scenarios say about SIA19?
Our models span a range for Singapore Airlines Limited: cautious scenario 18.57 THB, base 24.75 THB, optimistic 30.94 THB per share (as of Sep 24, 2026, price 17.50 THB). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SIA19?
Singapore Airlines Limited trades at a price-to-earnings ratio of 2.3 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 24.75 THB is built from several models across several years. Other multiples: PEG 1.5, P/B 0.1, P/S 0.1.
What is the PEG ratio of SIA19?
The PEG ratio of Singapore Airlines Limited is 1.53 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Singapore Airlines Limited (SIA19)?
Balance-sheet figures for Singapore Airlines Limited (as of Sep 24, 2026): return on equity 7.3%, debt of 0.33 per unit of equity. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
How far is SIA19 from its 52-week high?
Singapore Airlines Limited trades at 17.50 THB, about 10% below its 52-week high of 19.55 THB and 18% above the low of 14.83 THB (as of Sep 29, 2026). Distance from the high says nothing about value: that is what the fair value of 24.75 THB is for.
Which stocks are comparable to Singapore Airlines Limited?
From the same area (Industrials) we also value Delta Air Lines, Inc, United Airlines Holdings, Ryanair Holdings, Southwest Airlines Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Singapore Airlines Limited stock attractive at the current price?
The data as of Sep 24, 2026: price 17.50 THB, calculated fair value 24.75 THB (+41%), Quality Score 52/100, from 23 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of SIA19 calculated?
We run Singapore Airlines Limited through 23 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 24.75 THB, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Singapore Airlines Limited currently trades 29 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Singapore Airlines Limited (SIA19)?
The closing price on Sep 29, 2026 was 17.50 THB. Our model-based fair value is 24.75 THB, about +41% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Singapore Airlines Limited right now?
The price is below even our cautious bear case (18.57 THB). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (52/100) at a price below fair value, the discount is the argument here, not the business quality.

Key figures of Singapore Airlines Limited

How large is the market capitalisation of Singapore Airlines Limited (SIA19)?
The market capitalisation of Singapore Airlines Limited is 55.1B THB (≈ $1.6B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Singapore Airlines Limited (SIA19)?
The price-to-sales ratio of Singapore Airlines Limited is 0.13 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Singapore Airlines Limited (SIA19)?
Earnings per share at Singapore Airlines Limited are 7.66 THB (price ÷ EPS = P/E 2.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Singapore Airlines Limited (SIA19)?
The dividend yield of Singapore Airlines Limited is 1.5% (payout 3.5%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Singapore Airlines Limited (SIA19)?
The net margin of Singapore Airlines Limited is 5.8% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Singapore Airlines Limited (SIA19)?
The return on equity (ROE) of Singapore Airlines Limited is 7.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Singapore Airlines Limited (SIA19)?
On an EBIT basis the return on assets of Singapore Airlines Limited is 5.3% (avg 4y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Singapore Airlines Limited (SIA19)?
The operating margin of Singapore Airlines Limited is 14.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Singapore Airlines Limited (SIA19)?
Revenue at Singapore Airlines Limited is growing +8.0% versus a year earlier (3y avg +4.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Singapore Airlines Limited (SIA19)?
Earnings per share at Singapore Airlines Limited are growing −53.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Singapore Airlines Limited (SIA19) generate?
The free cash flow of Singapore Airlines Limited is 2.4B SGD (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Singapore Airlines Limited (SIA19) carry?
The net debt of Singapore Airlines Limited is 1.3B SGD (fiscal year 2025, ≈ 0.5 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed

Watch Singapore Airlines Limited in the live analysis

One click puts Singapore Airlines Limited on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.

Watch for free →

Zero risk: nothing is ever charged. Your watchlist is yours, with or without an account.