- Downgrade to SELL from Neutral as StarHub (SGX:CC3)'s FY25 results disappointed and marked a low point with double-digit contraction in headline EBITDA and core PATAMI.
- Our FY26F-27F earnings are slashed by 58-63%. An earnings recovery looks to be pushed back given the competitive intensity and decision to retain commercial flexibility.
Another earnings downdraft.
- - Read this at SGinvestors.io -
- A full-year StarHub's dividends of 6 cents tracks the minimum payout guidance of the higher of 6 cents dividend or 80% of core PATAMI.
Regional enterprise and cyber-security the only bright spots.
- - Read this at SGinvestors.io -
- We see the tight mobile competition continuing ahead of the M1-Simba merger, with market discipline possibly emerging in late 2026 or 2027.
Earnings recovery pushed back.
- Read more at SGinvestors.io.
Above is an excerpt from a report by RHB Securities Research.
Clients of RHB may be the first to access the full PDF report @ https://www.rhbtradesmart.com/.
Singapore Research RHB Securities Research | https://www.rhbgroup.com/ 2026-02-13
Read also RHB's most recent report:
2026-05-08 StarHub - Still Tough Going; Keep SELL.
Price targets by 3 other brokers at StarHub Target Prices.
Listing of research reports at StarHub Analyst Reports.
Relevant links:
StarHub Share Price History,
StarHub Announcements,
StarHub Dividend Payout Dates & Corporate Actions,
StarHub News
