Singtel - DBS Research 2025-05-23: Misses 4QFY25 Earnings But Dividends & Outlook Exceed Expectations

• Benefits from geographical diversification – Singtel (SGX:Z74) is the No.1 integrated telecom player in Singapore and owns the No.2 mobile player in Australia. Singtel holds significant stakes in telecom associates in India, Indonesia, the Philippines, and Thailand, which contributed over 67% of group operating profit in FY24.

Singtel has provided FY26F core EBIT growth guidance of a high single digit, led by S$200mil in cost savings.

• - Read this at SGinvestors.io -
• - Read this at SGinvestors.io -
• Singtel Singapore is expected to see its FY25 EBIT of S$833m (-0.3% y-o-y) see a low-single digit drop in FY26F followed by a low-single digit recovery in FY27F. This is on the back of rising adoption of 5G+ priority plans by enterprises and premium customers.

We expect Singtel’s HoldCo discount to narrow to 10%-15% with improving core EBIT.

• Read more at SGinvestors.io.

Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.

Read also DBS's most recent report:
2025-06-19 Singtel - Can Core Value Rise >150% In A Year?.

Price targets by 4 other brokers at Singtel Target Prices.

Listing of research reports at Singtel Analyst Reports.

Relevant links:
Singtel Share Price History,
Singtel Announcements,
Singtel Dividend Payout Dates & Corporate Actions,
Singtel News