SG Space Ambitions vs. Valuation: Can a $32.6B Order Book Justify the 11x P/B? |🦖EP1410
🟩 Singapore is officially launching its National Space Agency in April 2026, and the hype surrounding ST Engineering (S63) has reached stratospheric levels. With a massive $32.6 billion order book and headlines promising a new era of satellite constellations, the narrative is intoxicating. However, with the stock trading near $9.95 and P/E ratios hitting 40x, smart investors are asking the ten-dollar question: Are we buying into the final frontier, or just chasing a financial mirage?
In this deep dive from the Pit, we strip away the sci-fi headlines to examine the hard numbers behind the "National Champion." We analyze the new Incremental Dividend Payout Model to see if the future yield can actually justify the current premium. We also put S63 through a rigorous Health Check, comparing its solvency and cash flow against industry peers like SATS and SIA Engineering to determine if the stock is priced for perfection or primed for a correction.
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- snappix·17:12The hype is wild, but 40x P/E? Feels like chasing a bubble mate. [吃瓜]LikeReport