---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/100000000925834.md"
description: "$SGX(S68.SG)SGX: Strong Cash Returns, But Is the Tailwind Already Priced In?I revisited SGX after its FY2026 results, and the bull case has substance. Revenue rose 13.9% to S$1.48 billion, while adjusted net profit jumped 24.6% to S$759.5 million. Free cash flow of S$788.8 million comfortably covered its S$42 million share buyback and ordinary dividends. Management also plans to repay its debt fully in FY2027 and raise quarterly dividends by 0.25 cents through FY2028.That makes the “buybacks plus higher dividends” thesis credible. But there is an important catch: the market already knows it. At S$22.40, SGX trades around 34.5x trailing earnings and 28.8x forward earnings, with an indicated dividend yield of only 2.05%. Its valuation leaves limited room for disappointment.Technically, the picture has cooled sharply. SGX fell from S$25.50 at end-August to S$22.40, a roughly 12% correction. The S$22 area is an important near-term support zone, while S$24–25 represents the first resistance band.The interesting part is that buybacks are already happening, rather than waiting for some future catalyst. SGX repurchased 2.063 million shares for S$42 million in FY2026, with further purchases recorded in September.Action plan: Avoid chasing above S$24. Consider building a position gradually around S$21.50–22.50, with additional buying nearer S$20.50–21 if the correction deepens. Reassess if the share price breaks above S$25, particularly if earnings growth supports the move.The fundamental tailwind is real, but valuation matters. SGX offers recurring cash generation, dividend growth and buyback support. The opportunity lies in entering at a price that leaves room for both capital appreciation and income—not simply buying because management is returning more cash to shareholders.Not financial advice."
datetime: "2026-10-06T00:16:29.000Z"
locales:
  - [en](https://longbridge.com/en/topics/100000000925834.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/100000000925834.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/100000000925834.md)
author: "[FaithAnchor](https://longbridge.com/en/profiles/24833348.md)"
generator: "portal-rs"
---

# $SGX(S68.SG)SGX: Strong Cash Returns, But Is the T…


### Related Stocks

- [S68.SG](https://longbridge.com/en/quote/S68.SG.md)

## Comments (3)

- **Captain Leo · 2026-10-06T10:18:08.000Z · 👍 1**: Laying out the bull case and then asking what the market already assumes is the structure worth copying for any quality name after a run. Writing the buy zones and the rethink trigger down before the dip turns the plan into something checkable.
- **Vt3 · 2026-10-06T05:35:57.000Z · 👍 1**: Thanks 🙏
- **TheInvestingIguana · 2026-10-06T02:46:59.000Z · 👍 1**: The valuation discipline here is the right instinct, SGX does look priced for perfection at 34x trailing even with the cash flow backing it up. One thing worth adding: the 0.25 cent quarterly dividend step-up through FY2028 is a commitment, but the one-off 12.5 cent additional dividend this year cam


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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**