The Business Times
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ROEs of SGX mid-caps are a mixed bag, small-caps lag

Uneven ability to keep up with AI and interest-rate pressures are seen as two factors driving the divide

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Ranamita Chakraborty

Ranamita Chakraborty

Published Mon, Aug 31, 2026 · 10:00 AM
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    • Return on equity is considered a useful way to assess how effectively a company is deploying shareholders’ capital.
    • Return on equity is considered a useful way to assess how effectively a company is deploying shareholders’ capital. PHOTO: TAY CHU YI, BT

    [SINGAPORE] A study has found that the average small-cap company on the Singapore Exchange (SGX) posts a return on equity (ROE) of negative 4.44 per cent, although the median small-cap company’s is a positive 1.58 per cent.

    The figures are based on five-year adjusted average ROE numbers from publicly available Bloomberg data.

    Small-caps mostly cluster in low single digits or negative territory: Marco Polo Marine at 6.4 per cent, Wee Hur at 4.2 per cent, Cosco Shipping at 1.5 per cent, and embattled water treatment firm Hyflux at 0.8 per cent.

    Singapore equitiesSGXSingapore stock market

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