S08.SI
SGX50SESSingapore Post Limited
Industrials · Integrated Freight & Logistics · Singapore
Singapore Post Limited, together with its subsidiaries, engages in the post and parcel, eCommerce logistics, and property businesses in Singapore and internationally. It operates through the Logistics and Letters, Post Office Network, and Property Assets segments. The company offers post and parcel related services for collecting, sorting, transporting, and distributing domestic and international mail, as well as agency, financial, and parcel delivery services; and sells philatelic products. It also provides eCommerce logistics, warehousing, fulfilment and distribution, freight forwarding, and other value-added services. In addition, the company provides property rental, as well as management, and advertising and promotion services; and is involved in the freight collections transshipments, real estate activities, agency service provision, sale of products, and rental of space in post offices. Further, it offers management and consultancy, customs brokerage, and financial and treasury services, as well as online shopping platforms and services. The company was founded in 1819 and is headquartered in Singapore.
www.singpost.com ↗Shares trade at a moderate 17.2× trailing earnings, easing to 17.2× on forward estimates. Profitability shows a net margin of 16.2% and return on equity of 4.1%. Leverage is modest at -6.3× net debt/EBITDA. Revenue grew -18.2% year-on-year. It yields 0.3% in dividends. The mean analyst target of SGD0.66 sits 91.3% above the current price (no rating, 1 analysts).
business model
SingPost is Singapore's designated national postal operator, providing domestic and international mail, parcel and eCommerce logistics services, alongside property assets. Following major divestments in 2025 (the sale of its Australian logistics business Freight Management Holdings and of Famous Holdings), the group has refocused on its Singapore postal and eCommerce logistics operations, international eCommerce logistics, and property. Revenue comes from postal/parcel delivery, logistics services and rental income from assets such as SingPost Centre.
revenue segments
Its remaining core segments are Singapore postal and eCommerce logistics (letters, parcels and last-mile delivery), international eCommerce logistics (cross-border freight forwarding and delivery), and property (notably the retail-and-office SingPost Centre). The 2025 sale of the Australian FMH business removed what had been a large logistics revenue contributor.
key dependencies
It depends on eCommerce parcel volumes, its Public Postal Licence obligations and regulated postal economics, cross-border trade flows, property rental performance, and how it redeploys proceeds from recent divestments. Declining traditional letter mail and the strategic direction after asset sales are pivotal.
competitors
Competes in parcels and last-mile delivery with players such as Ninja Van, J&T Express, DHL, FedEx and other regional couriers, while its property assets compete with other Singapore retail/office landlords.
moat
Its moat is the national postal network and Public Postal Licence, an established last-mile delivery footprint in Singapore, and valuable property including SingPost Centre. Universal-service status gives it a unique nationwide reach.
risks
Risks include structural decline in letter mail, thin margins and intense competition in parcels, uncertainty over strategic direction and capital allocation after divestments, reliance on property income for stability, and regulatory constraints on postal pricing.
Financials & metrics
as of 05 Jul 2026Price is closer to the low end of its range. Green = nearer the yearly low, red = nearer the high — a position indicator, not a buy/sell signal.
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Full financial statements
Income statement
| Line item | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Total revenue | S$376.05M | S$489.07M | S$879.21M | S$1.87B | — |
| Cost of revenue | S$281.76M | S$371.59M | S$745.26M | S$1.65B | — |
| Gross profit | S$94.29M | S$117.48M | S$133.95M | S$220.47M | — |
| Operating expense | S$78.60M | S$80.02M | S$98.56M | S$127.43M | — |
| Operating income | S$15.69M | S$37.45M | S$35.40M | S$93.03M | — |
| Interest expense | S$10.47M | S$25.27M | S$22.62M | S$19.04M | — |
| Pretax income | S$69.11M | S$243.80M | S$56.14M | S$68.01M | — |
| Tax provision | S$7.09M | S$8.78M | S$10.73M | S$29.25M | — |
| Net income | S$60.88M | S$245.14M | S$78.33M | S$24.68M | — |
| EBITDA | S$112.37M | S$383.05M | S$159.81M | S$169.62M | — |
| Diluted EPS | — | S$0.10 | S$0.03 | S$0.01 | S$0.03 |
Balance sheet
| Line item | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Total assets | S$2.04B | S$2.39B | S$3.14B | S$2.84B | — |
| Current assets | S$669.53M | S$909.68M | S$761.04M | S$763.51M | — |
| Cash & equivalents | S$534.35M | S$696.42M | S$476.74M | S$495.70M | — |
| Inventory | S$14.0K | S$14.0K | S$343.0K | S$513.0K | — |
| Total liabilities | S$615.12M | S$782.95M | S$1.71B | S$1.46B | — |
| Current liabilities | S$321.25M | S$379.61M | S$698.00M | S$719.87M | — |
| Total debt | S$363.11M | S$270.67M | S$975.80M | S$704.12M | — |
| Long-term debt | S$250.00M | S$250.00M | S$816.81M | S$623.02M | — |
| Shareholders' equity | S$1.43B | S$1.57B | S$1.38B | S$1.38B | — |
| Retained earnings | S$508.64M | S$655.67M | S$653.17M | S$598.56M | — |
| Working capital | S$348.28M | S$530.07M | S$63.04M | S$43.64M | — |
Cash flow
| Line item | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Operating cash flow | -S$12.31M | S$77.76M | S$93.39M | S$115.66M | — |
| Investing cash flow | S$78.03M | S$538.12M | -S$145.91M | -S$27.18M | — |
| Financing cash flow | -S$231.97M | -S$396.19M | S$33.56M | S$126.78M | — |
| Capital expenditure | -S$15.71M | -S$51.09M | -S$55.21M | -S$28.43M | — |
| Free cash flow | -S$28.03M | S$26.67M | S$38.18M | S$87.23M | — |
| Dividends paid | -S$204.41M | -S$20.25M | -S$13.05M | -S$33.30M | — |
| End cash position | S$534.35M | S$696.42M | S$476.74M | S$495.70M | — |
Reported figures from public filings via Yahoo Finance. Line coverage varies by company. Not investment advice.
Dividends
Analyst assessment
as of 05 Jul 2026Aggregate rating available, per-rating breakdown not provided by the source.
Aggregate consensus only. Named per-analyst targets require a premium source and are not shown; the data model is ready to hold them if one is added.
Technicals
as of 03 Jul 2026News
Sector peers
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