In 2024, ST Engineering's revenue was 11.28 billion, an increase of 11.63% compared to the previous year's 10.10 billion, with earnings increasing 19.74%. The company reported a strong financial performance for 2024, with significant growth across key financial metrics, a record order book, and increased dividends.
Cyborg Score Rationale
ST Engineering was the eighth largest company on the Singapore Exchange by market capitalisation as of 2024. The company demonstrates strong revenue and earnings growth with a diverse portfolio spanning defense, aerospace, and emerging smart city sectors. However, challenges in the satcom segment and recent impairments temper the outlook.
Top Insights
Revenue reached 11.28B SGD in 2024 (up 11.63% YoY) with earnings up 19.74%
Record order book and increased dividends signal strong future growth prospects
Satcom segment facing pressure with revenue down 11% YoY due to Starlink competition
Ranked among top 100 global defence manufacturers by SIPRI and Defense News
Named Competitors
MRO Services — Aircraft engine maintenance and repair
Defense Systems — Aerospace and defense solutions
Satellite Communications — NextGen LEO satellite connectivity
Smart City Solutions — Urban infrastructure and digitalization
Recent Developments
(February 2026) Share buyback program initiated
(August 2025) H1 2025 earnings reported with S$0.129 EPS
(2025) Completed divestment of Shanghai Airframe MRO joint venture
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