SIA Engineering Company Limited

Name: SIA Engineering Company Limited financial statements and ratios
Creator: Annalist

S59 · SGX · Industrials, aircraft maintenance · Singapore · IFRS · Fiscal year ends March

Latest report: FY2026, the fiscal year ended 31 March 2026. Snapshot FY2026_14bc953f.

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Overview

Revenue, fiscal year

+14.3% year on year

Operating profit, fiscal year

+100% year on year

Net income, fiscal year

+21.0% year on year

Diluted EPS, fiscal year

n/a

Operating margin, fiscal year

+0.9pp year on year

Return on equity, fiscal year

+1.5pp year on year

Select a figure to see the document it came from.

Key Findings

Findings for the latest fiscal year, with their history over earlier years.

Revenue for the fiscal year ended 31 March 2026 was S$1.4 billion, 14.3% higher than in the previous fiscal year.
Confirmedin FY2026 · stated since FY202414.3% from 13.8% in FY2025
Rule: Revenue against the previous fiscal year · Sources Annual report 2026-03
History of this finding, 3 records
1. FY2026 ConfirmedRevenue for the fiscal year ended 31 March 2026 was S$1.4 billion, 14.3% higher than in the previous fiscal year.Recorded from FY2026_14bc953f · data update
2. FY2025 WeakenedRevenue for the fiscal year ended 31 March 2025 was S$1.2 billion, 13.8% higher than in the previous fiscal year.Reconstructed · data update
3. FY2024 NewRevenue for the fiscal year ended 31 March 2024 was S$1.1 billion, 37.5% higher than in the previous fiscal year.Reconstructed · initial
Net income attributable to the company for fiscal 2026 was S$169 million, 21.0% higher than in the previous fiscal year.
Weakenedin FY2026 · stated since FY202421.0% from 43.7% in FY2025
Rule: Net income against the previous fiscal year · Sources Annual report 2026-03
History of this finding, 3 records
1. FY2026 WeakenedNet income attributable to the company for fiscal 2026 was S$169 million, 21.0% higher than in the previous fiscal year.Recorded from FY2026_14bc953f · data update
2. FY2025 WeakenedNet income attributable to the company for fiscal 2025 was S$140 million, 43.7% higher than in the previous fiscal year.Reconstructed · data update
3. FY2024 NewNet income attributable to the company for fiscal 2024 was S$97 million, 46.3% higher than in the previous fiscal year.Reconstructed · initial
The operating margin for fiscal 2026 was 2.1%, 0.9 percentage points higher than a year earlier.
Confirmedin FY2026 · stated since FY2025
Rule: Operating margin against a year earlier · Sources Annual report 2026-03
History of this finding, 4 records
1. FY2026 ConfirmedThe operating margin for fiscal 2026 was 2.1%, 0.9 percentage points higher than a year earlier.Recorded from FY2026_14bc953f · data update
2. FY2025 NewThe operating margin for fiscal 2025 was 1.2%, 1.0 percentage points higher than a year earlier.Reconstructed · data update
3. FY2025 RetiredThe finding changed to higher than a year earlier.Reconstructed · data update
4. FY2024 NewThe operating margin for fiscal 2024 was 0.2%.Reconstructed · initial
Return on equity for fiscal 2026 was 9.7%, against 8.2% a year earlier.
Weakenedin FY2026 · stated since FY2024
Rule: Return on equity against a year earlier · Sources Annual report 2026-03, Annual report 2025-03
History of this finding, 3 records
1. FY2026 WeakenedReturn on equity for fiscal 2026 was 9.7%, against 8.2% a year earlier.Recorded from FY2026_14bc953f · data update
2. FY2025 StrengthenedReturn on equity for fiscal 2025 was 8.2%, against 5.8% a year earlier.Reconstructed · data update
3. FY2024 NewReturn on equity for fiscal 2024 was 5.8%, against 4.1% a year earlier.Reconstructed · initial
Purchases of property, plant and equipment exceeded operating cash flow by S$11 million in fiscal 2026.
Interpretation. The company spent more on capital expenditure than its operating cash flow, and paid the difference from cash, borrowing or asset sales.
Newin FY2026 · first stated
Rule: Free cash flow · Sources Annual report 2026-03
History of this finding, 4 records
1. FY2026 NewPurchases of property, plant and equipment exceeded operating cash flow by S$11 million in fiscal 2026.Recorded from FY2026_14bc953f · data update
2. FY2026 RetiredThe finding changed to negative.Recorded from FY2026_14bc953f · data update
3. FY2025 StrengthenedFree cash flow for fiscal 2025 was S$114 million, and operating cash flow was 1.2 times net income attributable to the company.Reconstructed · data update
4. FY2024 NewFree cash flow for fiscal 2024 was S$61 million, and operating cash flow was 1.0 times net income attributable to the company.Reconstructed · initial

Records before FY2026 are reconstructed from the latest snapshot. Ledger: findings.json.

Credit, liquidity, earnings quality and score findings: Analysis.

Data

Source documents5 documents, latest Annual report for the year to 31 March 2022List

DownloadsExcel workbook · JSON

SnapshotFY2026_14bc953f

Corporate Events

Corporate events are listed for companies whose figures come from 10-K and 10-Q filings; none are listed for this company.

Earnings, Returns and Balance Sheet

Revenue

By fiscal year, Singapore dollars

Operating Profit

By fiscal year, Singapore dollars

Profit Attributable to Owners of the Parent

By fiscal year, Singapore dollars

Margins

By fiscal year, per cent

Returns

By fiscal year, per cent

Free Cash Flow

Operating cash flow less capital expenditure, by fiscal year, Singapore dollars

Financial Statements

Figures as filed. Select a figure for its source document and method; a small d marks a figure derived from other figures of the same report.

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Ratios

Select a ratio for its formula and the figures it uses, each with its document; (i) gives its definition.

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Analysis

Credit update

FY2026

Annual report for the year to 31 March 2026. Changes are against the previous report, and each figure shows its period.

0changes2thresholds crossed

Changes in This Report 0

No finding changed its state in the latest report.

Thresholds Crossed 2

NewFree Cash Flow
Purchases of property, plant and equipment exceeded operating cash flow by S$11 million in fiscal 2026.
Interpretation. The company spent more on capital expenditure than its operating cash flow, and paid the difference from cash, borrowing or asset sales.
NewCash Backing of Earnings
Net income attributable to the company for fiscal 2026 exceeded operating cash flow by an amount equal to 6.5% of average total assets.
Interpretation. Part of the profit has not come in as cash yet: net income was larger than operating cash flow. Profit made of accounting entries tends to repeat less than profit backed by cash (Sloan, 1996).

Fiscal years, with balances at each fiscal year end. Select a value for its formula and the figures it uses.

Credit MetricsLease-adjusted debt, EBITDA and cash flow on the definitions of S&P and Moody's, as far as the filings allow.

Lease-adjusted debt, EBITDA and cash flow on the definitions of S&P and Moody's, as far as the filings allow.

These ratios have no value for the figures of this company.

Method

Total debt is borrowings and lease liabilities, current and non-current, before the deduction of cash. Under IFRS 16 every lease is on the balance sheet, depreciation includes that of right-of-use assets and finance costs include the interest on lease liabilities, so no lease cost or lease interest is added.
Adjusted EBITDA adds share-based payments, and the impairment that the company reports with depreciation and amortisation, to EBIT and depreciation and amortisation. FFO deducts cash interest and cash taxes.
S&P applies its table to its own adjusted figures, which also deduct surplus cash and adjust for pensions and other items, so the band of an S&P calculation can differ.

Liquidity and MaturitiesCash and operating cash flow against debt due within 12 months, capital expenditure and dividends.

Cash and operating cash flow against debt due within 12 months, capital expenditure and dividends.

These ratios have no value for the figures of this company.

Method

Debt due within 12 months is current borrowings and current lease liabilities.
Capital expenditure and dividends of the fiscal year are taken as those of the next 12 months. Undrawn credit facilities are not included.

Earnings QualityEarnings above cash flowCash-flow accruals 6.5% · FY2026

Accruals and the cash backing of reported earnings.

Net income attributable to the company for fiscal 2026 exceeded operating cash flow by an amount equal to 6.5% of average total assets.
Interpretation. Part of the profit has not come in as cash yet: net income was larger than operating cash flow. Profit made of accounting entries tends to repeat less than profit backed by cash (Sloan, 1996).
Newin FY2026 · first stated
Rule: Cash backing of earnings · Sources Annual report 2026-03
History of this finding, 4 records
1. FY2026 NewNet income attributable to the company for fiscal 2026 exceeded operating cash flow by an amount equal to 6.5% of average total assets.Recorded from FY2026_14bc953f · data update
2. FY2026 RetiredThe finding changed to earnings led by accruals.Recorded from FY2026_14bc953f · data update
3. FY2025 StrengthenedOperating cash flow for fiscal 2025 exceeded net income attributable to the company by an amount equal to 1.3% of average total assets.Reconstructed · data update
4. FY2024 NewOperating cash flow for fiscal 2024 exceeded net income attributable to the company by an amount equal to 0.2% of average total assets.Reconstructed · initial

By Fiscal Year

Ratio	FY202231 Mar 2022	FY202331 Mar 2023	FY202431 Mar 2024	FY202531 Mar 2025	FY202631 Mar 2026
Cash-flow accrualsNet income less operating cash flow, against average assets: the part of profit not received in cash in the same period. Research associates high accruals with lower earnings in later years; a negative figure means cash exceeded profit.(Net income attributable to the company - operating cash flow) / average total assets
Free cash flow to net incomeFree cash flow against net income. Below 1, investment and working capital take up part of the profit.(Operating cash flow - capital expenditure) / net income attributable to the company

Method

Cash-flow accruals are net income attributable to the company less operating cash flow, over average total assets. Balance sheet accruals follow Sloan (1996) and total accruals Richardson, Sloan, Soliman and Tuna (2005).
Balance sheet and total accruals include the assets and liabilities that acquisitions bring in and disposals take out; cash-flow accruals exclude them.

Forensic and Distress ScoresPublished distress and misstatement models, with their original coefficients and thresholds.

Published distress and misstatement models, with their original coefficients and thresholds.

These ratios have no value for the figures of this company.

Source Documents

Documents of this snapshot, latest first.

Document	Id	SHA-256
Annual report for the year to 31 March 2026	AR:sia-engineering-2026-03-31	2a94f79b7ea5
Annual report for the year to 31 March 2025	AR:sia-engineering-2025-03-31	c888f30490af
Annual report for the year to 31 March 2024	AR:sia-engineering-2024-03-31	e92f8e29deab
Annual report for the year to 31 March 2023	AR:sia-engineering-2023-03-31	0059dc582f5c
Annual report for the year to 31 March 2022	AR:sia-engineering-2022-03-31	84465e74dac1

Checks

300300 checks, all passed

Statement arithmetic180 passedIn every annual report used, the lines of each statement add up to the totals printed under them, profit before tax less income tax gives the profit, the balance sheet balances, and the cash at the end of each year is the cash at its start with its change. A report that fails one is not used. Checked at error level.

Fiscal calendar11 passedFiscal years last 350 to 380 days, and each starts on the day after the one before. Checked at error level.

Coverage2 passedThe latest fiscal year gives total assets and a profit figure. Checked at error level.

Balance sheet identity6 passedTotal assets equal total liabilities and equity at each balance sheet date. Checked at error level.

Agreement between annual reports101 passedA value of a year that the annual report of the year and that of the next year give in the same amount. A value that the later report gives differently is listed as a restatement, and the later value is used. Checked at warning level.

Data Quality

How many values of this snapshot the checks prove, and how many Annalist derives, withholds and tracks as restated. Every company.

Values published	171
Confirmed by other figures	67.3%, 115 values
Confirmed by a second document	59.1%, 101 values
Derived from reported figures	7.0%, 12 values
Values withheld	0
Restated figures tracked	2
Changes compared on one basis	0
Company lines mapped	0 of 0 reviewed

Citation

Annalist, SIA Engineering Company Limited, snapshot sia-engineering/FY2026_14bc953f (as of FY2026); <item label>, <period>; source <document id> (<document url>)

Snapshot FY2026_14bc953f · dataset SHA-256 14bc953ff7a437cb9ed3a2e64f3eff71ee223359f323766af22c51c2eb7942bd · findings rules 0.4

Data: info.json · dataset.json · validation.json · documents.json