Why is the ST Engineering share price near its 52-week high?

A record S$33.2b order book, solid core profit growth of 21% in FY2025, and management’s plan to repeat doubled international defence wins in FY2026 lifted sentiment. Around S$9.9b of 2026 deliveries improve revenue visibility, while a declared S$0.23 FY2025 dividend and a progressive policy from 2026 support confidence.

What is the impact of the S$689m satcom impairment on outlook?

The satcom impairment hit reported profit, but core profit still rose 21%, showing resilience. The key is whether satcom operations stabilise and cash flows improve. Investors should watch margin trends, backlog conversion and any asset restructuring updates to gauge if the issue remains contained or requires further action.

How attractive is the current ST Engineering dividend?

The FY2025 payout of S$0.23 implies a trailing yield of about 1.7% at S$10.25. From 2026, a progressive policy aims to grow distributions over time. Sustainability rests on cash conversion from the defence order book, disciplined capex and leverage control, which we will track alongside earnings updates.

Is the stock’s valuation a concern for new buyers?

Valuation is rich at roughly 41 times trailing earnings and 11.5 times book. That can limit upside if execution wobbles. New buyers may prefer staggered entries, using support near S$10.00 and the 50-day average at S$9.43, while watching 2026 delivery milestones, defence wins and cash generation for confirmation.

Global Market Insights

S63.SI Stock Today, March 3: Record Backlog, Defence Wins Guide 2026

ByDanny Kontos March 3, 2026March 3, 2026

ST Engineering share price is on watch today as investors weigh a record S$33.2b defence order book and improving earnings visibility for 2026. We track S63.SI with the latest quote at S$10.25, up 2.8%, near a 52-week high of S$10.44. Management plans to repeat a doubling of international defence wins in FY2026, while around S$9.9b of deliveries in 2026 may lift revenue. FY2025 core profit rose 21%, offsetting a S$689m satcom impairment. The declared ST Engineering dividend of S$0.23 for FY2025 and a new progressive policy from 2026 are near-term supports for sentiment around the ST Engineering share price.