Profitability improves in 2024 as Singapore firms’ ROA and ROE increase

ROA rises to 6.0% whilst ROE increases to 12.2% in 2024.

Return on assets (ROA) and return on equity (ROE) in Singapore’s corporate sector increased in 2024, reflecting stronger year-on-year profitability, according to the Singapore Department of Statistics.

ROA rose to 6.0% from 5.4% in 2023, whilst ROE increased to 12.2% from 11.2%, driven by higher profits in the finance and insurance, manufacturing, and transport and storage industries.

Total corporate assets reached about $14.4t at end-2024, up 6.8% from a year earlier. Equity stood at around $6.17t, whilst liabilities totalled about $8.20t.

The finance and insurance sector accounted for the largest share of assets, at about $10.3t, or 71.6% of the total corporate sector.

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