Seatrium Ltd 5E2

Stock XSES Rating as of Oct 2, 2026

SGD 2.03 −0.01 (0.49%)

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As of Oct 2, 2026, 8:54:55 AM Delayed Price Closed

Company Report

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Seatrium Sees Margin Improvement as Focus Shifts to Order Wins

Chokwai Lee, Nicole Lim Aug 3, 2026

Singapore‑based Seatrium was established in 2023 following the merger of Sembcorp Marine and Keppel O&M. We believe the enlarged entity enhances Seatrium’s earnings prospects, underpinned by increased scale and a stronger order book. The company’s strategically located shipyards provide strong coverage across key growth markets, including Brazil and Southeast Asia, with capabilities ranging from basic repairs and upgrades to complex module fabrication and rig construction.

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Price vs Fair Value

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5E2 is trading at a LOCK|L% premium.

Price

SGD 2.03

Oct 2, 2026

Fair Value

LOCK|#!

Aug 3, 2026

Uncertainty

LOCK|CDD

1-Star Price: LOCK|^M
5-Star Price: LOCK|jr
Economic Moat: LOCK|jL<
Capital Allocation: LOCK|%$c$%z?

Bulls Say, Bears Say

Bulls

Seatrium outperforms low-cost peers with its strong project delivery ability and solid industry reputation.

Bears

Low-cost competitors such as the Chinese shipyards are catching up in terms of quality and ability to deliver complex vessels and rigs.

Trading Information

Previous Close Price: SGD 2.04
Day Range: SGD 2.02–2.05
52-Week Range: SGD 1.92–2.51
Bid/Ask: SGD 2.03 / SGD 2.04
Shares Outstanding: 3.39B
Market Cap: SGD 6.88B
Volume/Avg: 8M / 15M

Key Statistics

Price/Earnings (Normalized): 12.66
Price/Sales: 0.59
Dividend Yield (Trailing): 1.48%
Dividend Yield (Forward): 1.48%
Dividend Payment Schedule: May
Total Yield: 1.94%

Company Profile

Singapore-based Seatrium was established in 2023 following the merger of Sembcorp Marine and Keppel O&M, leveraging over six decades of operating history from its predecessor companies. The company specializes in ship repairs and building, ship conversion, rig construction, and offshore engineering and construction. Seatrium operates a global network of facilities, and its Singapore operations include one of the world’s largest integrated shipyards, the Tuas Boulevard Yard.

Sector: Energy
Industry: Oil & Gas Equipment & Services
Stock Style Box: Mid Core
Total Number of Employees: 24,000
Website: https://www.seatrium.com

Competitors

Valuation

Metric	5E2	SLB	HAL
Price/Earnings (Normalized)	12.66	19.39	13.45
Price/Book Value	0.94	2.77	2.41
Price/Sales	0.59	2.02	1.20
Price/Cash Flow	15.89	11.20	9.44

Price/Earnings

5E2

SLB

HAL

Financial Strength

Metric	5E2	SLB	HAL
Quick Ratio	1.13	0.94	1.25
Current Ratio	1.17	1.44	2.02
Interest Coverage	5.73	8.41	7.16

Quick Ratio

5E2

SLB

HAL

Profitability

Metric	5E2	SLB	HAL
Return on Assets (Normalized)	2.38%	7.11%	7.88%
Return on Equity (Normalized)	6.24%	15.37%	18.83%
Return on Invested Capital (Normalized)	4.96%	10.72%	11.91%

Return on Assets

5E2

SLB

HAL

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