DBS (SGX:D05) Valuation Check After Record Profits, S$8b Capital Plan and Strategy Shift Under New CEO

Simply Wall St.12-14

DBS Group Holdings (SGX:D05) has just paired record profits with an S$8 billion capital return plan through 2027, while new CEO Tan Su Shan sharpens the strategy around digitalisation, regional deals,...

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Ellie Golding
12-15 09:29
Ellie Golding
Thanku it is Miss Fatima Hussein

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See our latest analysis for DBS Group Holdings. Those record numbers and the S$8 billion capital return plan appear to be resonating, with the share price at S$55.04 and a strong year to date share price return. The three year and five year total shareholder returns suggest momentum has been building over a longer horizon. If DBS has you rethinking what quality income and growth look like in financials, it could be worth exploring fast growing stocks with high insider ownership as another source of ideas. With double digit returns, record earnings and an S$8 billion capital return plan already on the table, the question now is simple: is DBS still undervalued or is the market already pricing in its next leg of growth? Most Popular Narrative Narrative: 2% Undervalued With the most followed narrative putting fair value near S$56.17 against a S$55.04 close, the gap is narrow but still signals upside potential.  Digital asset and payments ecosystem initiatives, leveraging early investments and regulatory engagement, position DBS to benefit from accelerated digital adoption and mobile penetration across Southeast Asia, supporting scalable high margin business lines and enhancing non interest income streams.  Read the complete narrative. Want to see what powers that valuation gap? This narrative leans on modest revenue expansion, resilient margins, and a richer earnings multiple than regional banks usually command. Curious which precise financial levers justify that premium view and how far they could stretch fair value from here? Read on to unpack the full playbook behind the numbers. Result: Fair Value of $56.17 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, this optimistic path could be derailed by prolonged margin pressure from lower interest rates, as well as lingering regulatory constraints on capital deployment and digital growth. Find out about the key risks to this DBS Group Holdings narrative. Another Take On Valuation Our valuation checks using a single price to earnings yardstick paint a different picture. DBS screens as expensive at 14.1 times earnings versus a fair ratio of 12.4 times and is well above both Asian banks at 9.8 times and close peers at 11.2 times. Is the market overpaying for quality here? See what the numbers say about this price — find out in our valuation breakdown. SGX:D05 PE Ratio as at Dec 2025 Build Your Own DBS Group Holdings Narrative If you are not fully convinced by this view or would rather test your own assumptions against the data, you can build a custom DBS narrative in just a few minutes: Do it your way. A great starting point for your DBS Group Holdings research is our analysis highlighting 3 key rewards and 1 important warning sign that could impact your investment decision. Ready for more high conviction ideas? Before you move on, lock in your next round of opportunities using the Simply Wall St Screener, so potential winners never slip past your radar.  Capture powerful long term compounding potential by reviewing these 13 dividend stocks with yields > 3% that combine income strength with resilient business models. Position yourself early in structural growth trends by scanning these 26 AI penny stocks poised to benefit from accelerating adoption of intelligent automation. Sharpen your value edge by targeting these 908 undervalued stocks based on cash flows where market prices still trail underlying cash flow strength.   This article by Simply Wall St is general in nature. We provide commentary based on historical data\n    and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your\n    financial situation. We aim to bring you long-term focused analysis driven by fundamental data.\n    Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.\n    Simply Wall St has no position in any stocks mentioned.Mobile Infrastructure for Defense and DisasterThe next wave in robotics isn't humanoid. Its fully autonomous towers delivering 5G, ISR, and radar in under 30 minutes, anywhere.Get the investor briefing before the next round of contractsSponsored On Behalf of CiTechNew: Manage All Your Stock Portfolios in One PlaceWe've created the ultimate portfolio companion for stock investors, and it's free.• Connect an unlimited number of Portfolios and see your total in one currency• Be alerted to new Warning Signs or Risks via email or mobile• Track the Fair Value of your stocksTry a Demo Portfolio for FreeHave feedback on this article? Concerned about the content? Get in touch with us directly. 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The three year and five year total shareholder returns...","content":"<div>\n<p>DBS Group Holdings (SGX:D05) has just paired record profits with an S$8 billion capital return plan through 2027, while new CEO Tan Su Shan sharpens the strategy around digitalisation, regional deals,...</p>\n\n<a href=\"https://simplywall.st/stocks/sg/banks/sgx-d05/dbs-group-holdings-shares/news/dbs-sgxd05-valuation-check-after-record-profits-s8b-capital\">Source Link</a>\n\n</div>\n","source":"simplywall_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>DBS (SGX:D05) Valuation Check After Record Profits, S$8b Capital Plan and Strategy Shift Under New CEO</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDBS (SGX:D05) Valuation Check After Record Profits, S$8b Capital Plan and Strategy Shift Under New CEO\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-12-14 18:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://simplywall.st/stocks/sg/banks/sgx-d05/dbs-group-holdings-shares/news/dbs-sgxd05-valuation-check-after-record-profits-s8b-capital><strong>Simply Wall St.</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>DBS Group Holdings (SGX:D05) has just paired record profits with an S$8 billion capital return plan through 2027, while new CEO Tan Su Shan sharpens the strategy around digitalisation, regional deals,...</p>\n\n<a href=\"https://simplywall.st/stocks/sg/banks/sgx-d05/dbs-group-holdings-shares/news/dbs-sgxd05-valuation-check-after-record-profits-s8b-capital\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://images.simplywall.st/asset/company-cover/874047-main-header/1585187088404","relate_stocks":{"LU0823417737.USD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"C\" (USD) INC","LU0577902371.SGD":"FULLERTON LUX FUNDS - 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ASEAN COUNTRIES \"AAZ\" (EUR) ACC","IE0031814969.USD":"FSSA ASEAN ALL CAP FUND \"I\" (USD) ACC","LU2506951875.HKD":"BNP PARIBAS SUSTAINABLE GLOBAL LOW VOL EQUITY \"CRH\" (HKDHDG) ACC","LU1634259557.SGD":"Eastspring Investments - Asian Low Volatility Equity Fund AS SGD-H","LU0577902538.SGD":"Fullerton Lux Funds - Asia Growth and Income Equities A Acc SGD","LU1363072403.SGD":"Fidelity Global Financial Services A-ACC-SGD","SG9999008742.SGD":"Eastspring Investments Unit Trusts - Singapore ASEAN Equity SGD","LU0577902611.USD":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"A\" (USD) ACC","LU0955669360.SGD":"Schroder ISF Asian Dividend Maximiser A Dis SGD"},"source_url":"https://simplywall.st/stocks/sg/banks/sgx-d05/dbs-group-holdings-shares/news/dbs-sgxd05-valuation-check-after-record-profits-s8b-capital","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2591766932","content_text":"DBS Group Holdings (SGX:D05) has just paired record profits with an S$8 billion capital return plan through 2027, while new CEO Tan Su Shan sharpens the strategy around digitalisation, regional deals, and fee driven growth. See our latest analysis for DBS Group Holdings. Those record numbers and the S$8 billion capital return plan appear to be resonating, with the share price at S$55.04 and a strong year to date share price return. The three year and five year total shareholder returns suggest momentum has been building over a longer horizon. If DBS has you rethinking what quality income and growth look like in financials, it could be worth exploring fast growing stocks with high insider ownership as another source of ideas. With double digit returns, record earnings and an S$8 billion capital return plan already on the table, the question now is simple: is DBS still undervalued or is the market already pricing in its next leg of growth? Most Popular Narrative Narrative: 2% Undervalued With the most followed narrative putting fair value near S$56.17 against a S$55.04 close, the gap is narrow but still signals upside potential.  Digital asset and payments ecosystem initiatives, leveraging early investments and regulatory engagement, position DBS to benefit from accelerated digital adoption and mobile penetration across Southeast Asia, supporting scalable high margin business lines and enhancing non interest income streams.  Read the complete narrative. Want to see what powers that valuation gap? This narrative leans on modest revenue expansion, resilient margins, and a richer earnings multiple than regional banks usually command. Curious which precise financial levers justify that premium view and how far they could stretch fair value from here? Read on to unpack the full playbook behind the numbers. Result: Fair Value of $56.17 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, this optimistic path could be derailed by prolonged margin pressure from lower interest rates, as well as lingering regulatory constraints on capital deployment and digital growth. Find out about the key risks to this DBS Group Holdings narrative. Another Take On Valuation Our valuation checks using a single price to earnings yardstick paint a different picture. DBS screens as expensive at 14.1 times earnings versus a fair ratio of 12.4 times and is well above both Asian banks at 9.8 times and close peers at 11.2 times. Is the market overpaying for quality here? See what the numbers say about this price — find out in our valuation breakdown. SGX:D05 PE Ratio as at Dec 2025 Build Your Own DBS Group Holdings Narrative If you are not fully convinced by this view or would rather test your own assumptions against the data, you can build a custom DBS narrative in just a few minutes: Do it your way. A great starting point for your DBS Group Holdings research is our analysis highlighting 3 key rewards and 1 important warning sign that could impact your investment decision. Ready for more high conviction ideas? Before you move on, lock in your next round of opportunities using the Simply Wall St Screener, so potential winners never slip past your radar.  Capture powerful long term compounding potential by reviewing these 13 dividend stocks with yields > 3% that combine income strength with resilient business models. Position yourself early in structural growth trends by scanning these 26 AI penny stocks poised to benefit from accelerating adoption of intelligent automation. Sharpen your value edge by targeting these 908 undervalued stocks based on cash flows where market prices still trail underlying cash flow strength.   This article by Simply Wall St is general in nature. We provide commentary based on historical data\n    and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your\n    financial situation. We aim to bring you long-term focused analysis driven by fundamental data.\n    Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.\n    Simply Wall St has no position in any stocks mentioned.Mobile Infrastructure for Defense and DisasterThe next wave in robotics isn't humanoid. Its fully autonomous towers delivering 5G, ISR, and radar in under 30 minutes, anywhere.Get the investor briefing before the next round of contractsSponsored On Behalf of CiTechNew: Manage All Your Stock Portfolios in One PlaceWe've created the ultimate portfolio companion for stock investors, and it's free.• Connect an unlimited number of Portfolios and see your total in one currency• Be alerted to new Warning Signs or Risks via email or mobile• Track the Fair Value of your stocksTry a Demo Portfolio for FreeHave feedback on this article? Concerned about the content? Get in touch with us directly. 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