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Singapore utility and energy company generating power (including renewables) and developing sustainable urban infrastructure.
Singapore utility and energy company generating power (including renewables) and developing sustainable urban infrastructure.
Earns from selling electricity and heat under long-term contracts and regulated arrangements, plus renewable output sold under power-purchase agreements (fixed-price or fixed-volume contracts with buyers). It is shifting from coal toward wind and solar in Asia. Its former offshore marine arm merged with Keppel's yard in 2023 to form Seatrium. Temasek is the largest shareholder.
In one line: A Singaporean NextEra Energy/utility-developer hybrid.
Moat: narrow (regulatory licence, installed base, scale). Power purchase agreements and utility licenses across multiple Asian markets support stable cash flows.
Headquarters: Singapore · Founded: 1998 · Employees: 4,629
Size Sembcorp Industries (U96.SI) is a Singapore Utilities company (Electric Utilities) with a market value of $7.91B, the 17th largest of 186 Singapore companies the cockpit tracks. Shares closed at S$5.68 on 6 Nov 2026.
Performance Over six months the shares fell 8.1%, against -3.4% for the median peer and -1.2% for the Singapore market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue grew 7.8% over the last twelve months (peer median +7.8%); the operating margin is 11.4% (peer median 14.4%).
Valuation It trades at 11.5× forward earnings against a peer median of 16.9× (3rd cheapest of 19).
Capital Return on invested capital runs 1.8 points below its cost of capital (5.0% WACC).
Next results Next results expected around 22 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | S$6.63B | S$5.80B | S$6.42B | S$7.04B | S$7.83B |
| Revenue growth | — | -10% | -9% | -10% | — |
| Gross profit | S$1.22B | S$1.29B | S$1.50B | S$1.56B | S$1.23B |
| EBITDA | S$1.28B | S$1.35B | S$1.48B | S$1.61B | S$1.13B |
| Net income | S$598M | S$984M | S$1.02B | S$1.02B | S$848M |
| Free cash flow | -S$133M | S$148M | -S$323M | S$523M | S$804M |
| Capital expenditure | S$889M | S$962M | S$1.61B | S$836M | S$615M |
| Total debt | n/a | S$9.70B | S$9.40B | S$7.56B | S$7.36B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Sembcorp Industries U96.SI | $7.91B | -8% | +8% | 11% | 11.5× | n/a |
| Keppel BN4.SI | $13.0B | -13% | +11% | 11% | 18.9× | 14.8% |
| China Res Power 0836.HK | $13.5B | +6% | +2% | 18% | 9.0× | n/a |
| Tata Power TATAPOWER.NS | $11.9B | -20% | -4% | 13% | 25.0× | n/a |
| JSW Energy JSWENERGY.NS | $10.1B | -9% | +26% | 36% | 39.7× | n/a |
| Adani Power ADANIPOWER.NS | $41.6B | -11% | +8% | 23% | 29.4× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | U96.SI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -2.4% | +0.5% | 4th lowest of 21 |
| 6-month return | -8.1% | -3.4% | 8th lowest of 21 |
| Distance from 52-week high | -21.1% | -16.9% | 9th lowest of 21 |
| Revenue growth (TTM) | +7.8% | +7.8% | 11th highest of 21 |
| Operating margin | 11.4% | 14.4% | 7th lowest of 21 |
| Forward P/E | 11.5× | 16.9× | 3rd cheapest of 19 |
| ROIC minus cost of capital | -1.8 pp | -0.6 pp | 7th lowest of 21 |
| EV / EBITDA | 19.0× | 11.8× | 3rd most expensive of 17 |
| Net debt / EBITDA | 10.8× | 5.1× | 2nd most indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Sembcorp Industries U96.SI | Singapore | $7.91B | -8% | +8% | 11% | 11.5× | n/a | n/a |
| Companhia Paranaense de Energia Sponsored ADR ELPC | United States | $7.92B | -15% | +27% | 19% | 16.3× | -5.5% | +5.3% |
| Bkw BKW.SW | Switzerland | $8.12B | -17% | -5% | 11% | 14.1× | 1.6% | +7.4% |
| Inner Mongolia MengDian HuaNeng Thermal Power 600863.SS | China | $7.35B | +16% | -3% | 16% | 18.4× | -1.9% | +6.5% |
| A2A A2A.MI | Italy | $8.55B | +4% | +14% | 8% | 11.9× | 2.8% | +15.6% |
| Huadian Power International 600027.SS | China | $8.61B | +3% | -7% | 6% | 13.2× | -0.4% | +6.3% |
| SPIC Hydropower 600292.SS | China | $7.26B | -34% | +301% | 28% | 72.6× | -6.8% | +27.0% |
| IDACORP IDA | United States | $8.63B | +2% | +4% | 23% | 21.7× | n/a | n/a |
| NHPC NHPC.NS | India | $8.72B | +1% | +12% | 30% | 19.4× | n/a | n/a |
| Capital Power CPX.TO | Canada | $7.13B | -4% | +25% | 10% | 19.5× | 18.9% | +11.8% |
| HK Electric Investments & HK Electric Investments 2638.HK | Hong Kong | $6.99B | -3% | +4% | 42% | 17.1× | 3.5% | +3.1% |
| PGE Polska Grupa Energetyczna PGE.WA | Poland | $9.02B | +47% | -2% | 12% | 5.5× | n/a | n/a |
| Torrent Power TORNTPOWER.NS | India | $6.78B | -26% | +8% | 13% | 23.3× | n/a | n/a |
| Brookfield Renewable Partners LP BEP-UN.TO | Canada | $9.41B | -7% | +7% | 11% | n/a | n/a | n/a |
| Shenergy 600642.SS | China | $6.64B | +1% | -2% | 12% | 12.6× | -1.6% | +7.2% |
| Redeia Corporacion RED.MC | Spain | $9.47B | +8% | +15% | 43% | 16.7× | n/a | n/a |
| Companhia Energetica de Minas Gerais SA Sponsored ADR Pfd CIG | United States | $6.45B | -23% | +13% | 13% | 9.0× | -1.6% | +9.4% |
| TXNM Energy TXNM | United States | $6.41B | -1% | +10% | 24% | 22.5× | n/a | n/a |
| Edison EDNR.MI | Italy | $9.87B | -12% | +6% | 3% | n/a | n/a | n/a |
| Hikari Tsushin 9435.T | Japan | $10.0B | -5% | +7% | 15% | 12.5× | 6.7% | +5.6% |
| JSW Energy JSWENERGY.NS | India | $10.1B | -9% | +26% | 36% | 39.7× | n/a | n/a |