SGX:F31

Stock Analysis Report

Executive Summary

Fragrance Group Limited, an investment holding company, operates as a property developer in Singapore, Australia, and the United Kingdom.

Rewards

PE ratio (2.7x) is below the SG market (13.1x)

Earnings grew by 527.8% over the past year

Risk Analysis

Interest payments are not well covered by earnings

High level of non-cash earnings



Snowflake Analysis

Proven track record and slightly overvalued.


Similar Companies

Share Price & News

How has Fragrance Group's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: F31 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

1.5%

F31

0.04%

SG Real Estate

0.1%

SG Market


1 Year Return

-1.5%

F31

0.5%

SG Real Estate

3.7%

SG Market

Return vs Industry: F31 underperformed the SG Real Estate industry which returned 0.5% over the past year.

Return vs Market: F31 underperformed the SG Market which returned 3.7% over the past year.


Shareholder returns

F31IndustryMarket
7 Day1.5%0.04%0.1%
30 Day4.7%0.8%-0.2%
90 Day5.5%-0.4%0.3%
1 Year-1.5%-1.5%3.6%0.5%7.9%3.7%
3 Year-14.4%-15.6%8.7%0.07%17.5%4.9%
5 Year-33.5%-35.7%4.3%-9.6%14.2%-4.9%

Price Volatility Vs. Market

How volatile is Fragrance Group's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Fragrance Group undervalued compared to its fair value and its price relative to the market?

2.65x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate F31's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate F31's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: F31 is good value based on its PE Ratio (2.7x) compared to the Real Estate industry average (10x).

PE vs Market: F31 is good value based on its PE Ratio (2.7x) compared to the SG market (13.1x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate F31's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: F31 is overvalued based on its PB Ratio (0.7x) compared to the SG Real Estate industry average (0.5x).


Next Steps

Future Growth

How is Fragrance Group forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

3.9%

Forecasted Real Estate industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Fragrance Group has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Fragrance Group performed over the past 5 years?

16.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: F31 has a high level of non-cash earnings.

Growing Profit Margin: F31's current net profit margins are higher than last year (23.6%).


Past Earnings Growth Analysis

Earnings Trend: F31's earnings have grown by 16.2% per year over the past 5 years.

Accelerating Growth: F31's earnings growth over the past year (527.8%) exceeds its 5-year average (16.2% per year).

Earnings vs Industry: F31 earnings growth over the past year (527.8%) exceeded the Real Estate industry -8.2%.


Return on Equity

High ROE: Whilst F31's Return on Equity (24.35%) is high, this metric is skewed due to their high level of debt.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Fragrance Group's financial position?


Financial Position Analysis

Short Term Liabilities: F31's short term assets (SGD1.2B) exceed its short term liabilities (SGD568.2M).

Long Term Liabilities: F31's short term assets (SGD1.2B) exceed its long term liabilities (SGD1.2B).


Debt to Equity History and Analysis

Debt Level: F31's debt to equity ratio (118.9%) is considered high.

Reducing Debt: F31's debt to equity ratio has increased from 110% to 118.9% over the past 5 years.

Debt Coverage: F31's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: F31's interest payments on its debt are not well covered by EBIT (1.4x coverage).


Balance Sheet

Inventory Level: F31 has a high level of physical assets or inventory.

Debt Coverage by Assets: F31's debt is not covered by short term assets (assets are 0.7x debt).


Next Steps

Dividend

What is Fragrance Group's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

company0%marketbottom25%2.6%markettop25%5.5%industryaverage3.2%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: Unable to evaluate F31's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate F31's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if F31's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if F31's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: F31 is not paying a notable dividend for the SG market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of F31's dividend in 3 years as they are not forecast to pay a notable one for the SG market.


Next Steps

Management

What is the CEO of Fragrance Group's salary, the management and board of directors tenure and is there insider trading?

9.7yrs

Average board tenure


CEO

James Koh (55yo)

0yrs

Tenure

0

Dr. Wee Meng Koh, also known as James, founded Fragrance Group Ltd in early 1990's and serves as its Executive Chairman and Chief Executive Officer. As the key decision maker of property development busine ...


Board Age and Tenure

9.7yrs

Average Tenure

53yo

Average Age

Experienced Board: F31's board of directors are considered experienced (9.7 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Keloth Raj Kumar

    Company Secretary

    • Tenure: 0yrs
  • James Koh (55yo)

    Founder

    • Tenure: 0yrs
  • Grace Lim (53yo)

    Executive Director

    • Tenure: 7.4yrs
  • Periakaruppan Aravindan (44yo)

    Deputy CEO & Executive Director

    • Tenure: 9.7yrs
  • Chee Kee Lim

    Executive Officer

    • Tenure: 0yrs
  • Cheong Sum Choy

    Executive Officer

    • Tenure: 0yrs
  • Wan Mee Lim

    Executive Officer

    • Tenure: 0yrs
  • Loong Mey Chen (42yo)

    CFO & Joint Company Secretary

    • Tenure: 2.3yrs

Board Members

  • James Koh (55yo)

    Founder

    • Tenure: 0yrs
  • Cheng Kuang Teo (77yo)

    Independent Director

    • Tenure: 15yrs
  • Grace Lim (53yo)

    Executive Director

    • Tenure: 7.4yrs
  • Periakaruppan Aravindan (44yo)

    Deputy CEO & Executive Director

    • Tenure: 9.7yrs
  • Kum Kuan Watt

    Independent Director

    • Tenure: 13.9yrs
  • Paul Leow (48yo)

    Lead Independent Director

    • Tenure: 3.8yrs

Company Information

Fragrance Group Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Fragrance Group Limited
  • Ticker: F31
  • Exchange: SGX
  • Founded: 2000
  • Industry: Real Estate Development
  • Sector: Real Estate
  • Market Cap: S$906.336m
  • Shares outstanding: 6.71b
  • Website: https://www.fragrancegroup.com.sg

Location

  • Fragrance Group Limited
  • No. 26-01 Fragrance Empire Building
  • 456 Alexandra Road
  • Singapore
  • 119962
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
F31SGX (Singapore Exchange)YesOrdinary SharesSGSGDFeb 2005

Biography

Fragrance Group Limited, an investment holding company, operates as a property developer in Singapore, Australia, and the United Kingdom. It operates through Property Development, Commercial Investment, Ho ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/15 12:43
End of Day Share Price2019/12/13 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.