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Singapore Telecommunications Limited (Z74) Fair Value & Analysis

Communication Services · SG · Market cap 72.7B SGD (≈ $57.4B) · ISIN SG1T75931496

What is Singapore Telecommunications Limited really worth?

ST Singapore Telecommunications Limited Z74 · SG
Price4.52 SGD
Fair Value2.98 SGD
Upside−34.1%
Quality60/100

A solid business, but trading 52% above our fair value of 2.98 SGD.

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Strengths

✓Highly profitable · 39.3% net margin
✓Low debt · generates free cash flow

Risks

!Weak Growth (revenue 5y −1.8 %/yr)
!Mixed vs. peers (6/15)
!Moderate moat 61/100
!Weak on future: 23 out of 100

For context

·4.03% dividend yield
Evidence: High Range 2.29 SGD – 3.81 SGD

Fair value as of: Sep 5, 2026

From 24 valuation models · updated today

Share price +3.9% over the past 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 →

What matters now

  • The price sits above even our optimistic bull case (3.81 SGD). The favourable scenario is already priced in.
  • Solid but not exceptional quality (60/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

5.21 SGD 1.80 SGD Fair Value 2.98 SGD Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 5, 2026.

How to read this chart

60‑month range 1.80 SGD – 5.21 SGD · fair‑value band 2.29 SGD – 3.81 SGD · the 4.52 SGD price screens above the 2.98 SGD fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 5, 2026.

Full chart & analysis →

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Analysis

Singapore Telecommunications Limited (Z74) currently trades at 4.52 SGD, while our model-based Fair Value estimate is 2.98 SGD, implying the stock looks roughly 51.7% overvalued today. The Quality Score stands at 60/100 (solid quality), in the Communication Services sector. Bull case: the Growth Earnings group reads highest at a median of 5.69 SGD per share, and 4 of the 22 models we run sit above the 4.52 SGD price. Bear case: the Growth DCF group reads lowest at 0.8400 SGD, and 18 of the 22 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Singapore Telecommunications Limited generated revenue of 14.3B SGD at a net margin of 39.3%. Revenue grew 4.6% year over year. It earns a return on equity of 20.6%. Net debt stands at 8.2B SGD. Fundamentals as of Sep 5, 2026

Our scenario range runs from 2.29 SGD (bear case) to 3.81 SGD (bull case); at 4.52 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. Analysts expect earnings well below the last reported figure (earnings in transition, for example expiring patents or contracts); a fair value that looks fair on trailing earnings may then be too optimistic. The share trades about 14% below its 52-week high and 26% above its 52-week low, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at 30% fair-value upside, at −34%, Z74 screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly 0.0684 SGD per share, which is 2.3 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.

Model 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. Evidence
Highest evidence
FCF DCF 0.9400 SGD 1.48 SGD 2.48 SGD 78
Growth DCF 1.01 SGD 1.53 SGD 2.43 SGD 77
Owner Earnings 2.74 SGD 3.99 SGD 6.29 SGD 76
All 24 models by family
DCF Models
FCF DCF 0.9400 SGD 1.48 SGD 2.48 SGD 78
Owner Earnings 2.74 SGD 3.99 SGD 6.29 SGD 76
5Y Revenue Exit 0.4900 SGD 0.8100 SGD 1.28 SGD 71
5Y EBITDA Exit 1.13 SGD 1.93 SGD 2.99 SGD 74
5Y P/E Exit 3.07 SGD 5.28 SGD 7.91 SGD 70
10Y Revenue Exit 0.6400 SGD 0.8900 SGD 1.16 SGD 68
10Y EBITDA Exit 1.05 SGD 1.59 SGD 2.16 SGD 69
10Y P/E Exit 2.22 SGD 3.66 SGD 5.05 SGD 64
Earnings-Based
Graham-Dodd 2.33 SGD 2.85 SGD 3.20 SGD 67
EPV — — 0.0400 SGD 68
Dividend Discount
Gordon GGM 1.70 SGD 1.87 SGD 2.11 SGD 69
DDM Multi-Stage 1.70 SGD 2.14 SGD 2.75 SGD 67
Multiples
P/E Multiple 5.65 SGD 7.53 SGD 9.42 SGD 63
P/S Multiple 2.29 SGD 3.05 SGD 3.81 SGD 58
P/B Multiple 4.37 SGD 5.82 SGD 7.28 SGD 55
EV/EBIT 0.4800 SGD 0.7900 SGD 1.09 SGD 64
EV/EBITDA 1.54 SGD 2.20 SGD 2.86 SGD 67
EV/Revenue 0.2600 SGD 0.5600 SGD 0.8600 SGD 51
Asset-Based
NCAV (Graham) 0.8700 SGD 1.17 SGD 1.74 SGD 54
Growth DCF
Growth DCF 1.01 SGD 1.53 SGD 2.43 SGD 77
Rev-Margin DCF 0.4900 SGD 0.8400 SGD 1.29 SGD 71
Economic Profit
Residual Income 2.18 SGD 2.75 SGD 8.05 SGD 66
ROIC Compounder — — 0.0400 SGD 68
Growth Earnings
Growth-Adj P/E 3.98 SGD 5.69 SGD 7.40 SGD 67

Widest divergence: Growth Earnings (5.69 SGD) versus Growth DCF (0.8400 SGD). Highest evidence: FCF DCF (78).

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Key figures & financial health

P/E ratio 13.3
P/S ratio 5.23 P/E × margin
EPS (TTM) 0.3400 SGD price ÷ EPS = P/E 13.3
Dividend yield 4.0% payout 53.5%
Net margin 39.3% FY2026
Return on equity 20.6% TTM
More key figures
Profitability
Return on assets (EBIT) 2.1% avg 5y
Operating margin 8.4% TTM
Growth
Revenue (TTM) 14.3B SGD TTM
Revenue growth (YoY) +4.6% 3y avg −0.8%
EPS growth (YoY) −80.7%
Balance sheet & cash flow
Free cash flow 2.3B SGD FY2026
Net debt 8.2B SGD FY2026 · ≈ 3.5 yrs of FCF

Figures from reported company fundamentals · as of Sep 5, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 60/100

Of which business quality 59 · Market factors (momentum, volatility) 57

Profitability 57
Margins and returns on capital today
Quality Growth 41
Are margins and returns improving?
Cashflow 54
Earnings quality: real cash, not paper profit
Fin. Strength 61
Balance sheet, leverage, solvency risk
Investment 60
Disciplined investing over empire-building
Low Volatility 93
Calm price path (market factor)
Momentum 40
Price trend over the last 3–12 months (market factor)
52W Momentum 44
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Singapore Telecommunications Limited, together with its subsidiaries, provides telecommunication services to consumers and small businesses in Singapore, Australia, and internationally. It operates through Optus, Singtel Singapore, NCS, and Digital InfraCo segments.

Full company description

Singapore Telecommunications Limited, together with its subsidiaries, provides telecommunication services to consumers and small businesses in Singapore, Australia, and internationally. It operates through Optus, Singtel Singapore, NCS, and Digital InfraCo segments. The company provides mobile, equipment sales, fixed voice and data, satellite, ICT and managed services; pay television, content and digital services, and ICT services and sells equipments; and technology services to clients through its Gov+, Enterprise, and Telco+ groups. It also offers regional data center services under Nxera; satellite carrier services; and Paragon, a digital acceleration platform for 5G multi-access edge compute and cloud orchestration, as well as AI Cloud Service through RE:AI. In addition, the company offers services comprising insurance, my Singtel app, my smart network, GXS bank, dash, Singtel paylater, and telephony services. The company was incorporated in 1992 and is headquartered in Singapore.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Singapore Telecommunications Limited reported revenue of 14.3B SGD in FY2026 versus 15.3B SGD in FY2022, a compound −1.8%/yr. Reported net income was 5.6B SGD in FY2026, compounding +30.2%/yr from FY2022.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2026)
14.3B SGD
Latest YoY
+0.8%
Avg. revenue growth/yr (3Y) ⓘ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.
−0.8%
Avg. revenue growth/yr (5Y) ⓘ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.
−1.8%
Avg. revenue growth/yr (12Y) ⓘ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.
−1.4%
Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years, EBIT basis) plus dividend yield: value created per share and year.
+5.8% (1.8 + 4.0)
Revenue −1.8%/yr
FY22 15.3B SGD
FY23 14.6B SGD
FY24 14.1B SGD
FY25 14.1B SGD
FY26 14.3B SGD
Net income +30.2%/yr
FY22 1.9B SGD
FY23 2.2B SGD
FY24 795M SGD
FY25 4.0B SGD
FY26 5.6B SGD

Z74 screens 52% overvalued. Compare with China Mobile Limited →

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Singapore Telecommunications Limited · Fair Value
2.98 SGD −52%Fair Value
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Cite: Fair Value Calculator (2026). "Singapore Telecommunications Limited Fair Value". https://www.fairvalue-calculator.com/stock/Z74

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Telecom Services · 248 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.

Quality Score 60 · Above median
Fair Value upside −34% · Below median
Return on equity (TTM) 21% · Top 25%
Return on assets 2% · Below median
Net margin (TTM) 39% · Top 25%
Operating margin (TTM) 8% · Below median
Revenue growth 5% · Above median
Dividend yield (TTM) 4.0% · Above median
Debt / equity 0.37× · Higher than median

Valuation Multiples vs Telecom Services median · lower = cheaper

P/E (TTM) 13.3× · Cheaper than median
P/B 2.01× · Pricier than median
P/S (TTM) 4.02× · Pricier than 75% of peers
P/FCF 24.8× · Pricier than 75% of peers
EV/EBITDA 18.8× · Pricier than 75% of peers
PEG 1.47× · Pricier than median

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 28
FUTURE23 · sector 16
PAST82 · sector 28
HEALTH82 · sector 89
DIVIDEND81 · sector 76

VALUE 0: the price sits above our fair-value range.

Insider activity: 40/100

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 Telecom Services stocks, each showing price versus our Fair Value estimate (as of Sep 5, 2026).

Stock Price Fair Value vs Fair Value
China Mobile Limited 600941 ¥96.11 ¥109.88 +14%
T-Mobile US, Inc TMUS $177.75 $172.67 −3%
Verizon Communications Inc VZ $49.43 $64.43 +30%
AT&T Inc T $26.01 $43.97 +69%
Bharti Airtel Limited BHARTIARTL ₹1,935 ₹941.48 −51%
Comcast Corporation CMCSA $26.41 $95.42 +261%
China Telecom Corporation 601728 ¥6.43 ¥8.36 +30%
América Móvil, S.A. AMX $23.50 $39.45 +68%
Swisscom AG SCMN CHF 627.50 CHF 463.92 −26%
Telstra Group TLS A$4.80 A$3.31 −31%

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Frequently asked questions

Is Singapore Telecommunications Limited (Z74) overvalued or undervalued?
As of Sep 5, 2026, our model estimates a fair value of 2.98 SGD versus a price of 4.52 SGD, about −34% upside (overvalued).
What is the fair value of Z74?
Our model-based fair value for Singapore Telecommunications Limited is 2.98 SGD (as of Sep 5, 2026), built from audited fundamentals. The current price: 4.52 SGD.
What is the quality score of Z74?
Singapore Telecommunications Limited has a Quality Score of 60/100. 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 revenue of Singapore Telecommunications Limited (Z74)?
Singapore Telecommunications Limited reported trailing-twelve-month revenue of about 14.3B SGD (latest available figure, as of Sep 5, 2026).
What is the net profit margin of Z74?
The net profit margin of Singapore Telecommunications Limited is about 39.3%, meaning it keeps roughly 39.3% of revenue as net income. Based on the latest reported figures.
Does Singapore Telecommunications Limited pay a dividend?
Singapore Telecommunications Limited currently shows a dividend yield of about 4.03% relative to its recent price (as of Sep 5, 2026).
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