Stock Analysis Report

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Last Updated

2021/06/22 16:49 UTC

Data Sources

Company Financials

Executive Summary

The Hour Glass Limited, an investment holding company, retails and distributes watches, jewelry, and other luxury products in South East Asia, Australia, and North East Asia. More Details

Snowflake Analysis

Excellent balance sheet with proven track record and pays a dividend.

Share Price & News

How has Hour Glass's share price performed over time and what events caused price changes?

Latest Share Price and Events

Stable Share Price: AGS is not significantly more volatile than the rest of SG stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: AGS's weekly volatility (6%) has been stable over the past year.

Market Performance

7 Day Return




SG Specialty Retail


SG Market

1 Year Return




SG Specialty Retail


SG Market

Return vs Industry: AGS exceeded the SG Specialty Retail industry which returned 54.6% over the past year.

Return vs Market: AGS exceeded the SG Market which returned 15.1% over the past year.

Shareholder returns

7 Day7.4%1.0%-1.5%
30 Day33.9%11.5%0.1%
90 Day51.3%15.4%-0.02%
1 Year127.4%114.7%59.8%54.6%19.8%15.1%
3 Year166.6%135.5%45.9%31.7%2.8%-9.9%
5 Year115.7%80.2%12.2%-3.4%22.9%-0.1%

Long-Term Price Volatility Vs. Market

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

Simply Wall St News


Is Hour Glass undervalued compared to its fair value and its price relative to the market?


Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: AGS (SGD1.46) is trading below our estimate of fair value (SGD8.33)

Significantly Below Fair Value: AGS is trading below fair value by more than 20%.

Price To Earnings Ratio

PE vs Industry: AGS's PE Ratio (12.5x) is in line with the SG Specialty Retail industry average.

PE vs Market: AGS is good value based on its PE Ratio (12.5x) compared to the SG market (15.5x).

Price to Earnings Growth Ratio

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

Price to Book Ratio

PB vs Industry: AGS is overvalued based on its PB Ratio (1.5x) compared to the SG Specialty Retail industry average (1x).

Future Growth

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


Forecasted Retail 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 Hour Glass 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.

Past Performance

How has Hour Glass performed over the past 5 years?


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: AGS has high quality earnings.

Growing Profit Margin: AGS's current net profit margins (11.1%) are higher than last year (10.1%).

Past Earnings Growth Analysis

Earnings Trend: AGS's earnings have grown by 12.2% per year over the past 5 years.

Accelerating Growth: AGS's earnings growth over the past year (8.4%) is below its 5-year average (12.2% per year).

Earnings vs Industry: AGS earnings growth over the past year (8.4%) exceeded the Specialty Retail industry 2.7%.

Return on Equity

High ROE: AGS's Return on Equity (12.2%) is considered low.

Financial Health

How is Hour Glass's financial position?

Financial Position Analysis

Short Term Liabilities: AGS's short term assets (SGD523.7M) exceed its short term liabilities (SGD204.6M).

Long Term Liabilities: AGS's short term assets (SGD523.7M) exceed its long term liabilities (SGD71.0M).

Debt to Equity History and Analysis

Debt Level: AGS's debt to equity ratio (15.1%) is considered satisfactory.

Reducing Debt: AGS's debt to equity ratio has increased from 14% to 15.1% over the past 5 years.

Debt Coverage: AGS's debt is well covered by operating cash flow (165.9%).

Interest Coverage: AGS's interest payments on its debt are well covered by EBIT (40.7x coverage).

Balance Sheet


What is Hour Glass's current dividend yield, its reliability and sustainability?


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: AGS's dividend (5.48%) is higher than the bottom 25% of dividend payers in the SG market (1.85%).

High Dividend: AGS's dividend (5.48%) is in the top 25% of dividend payers in the SG market (4.97%)

Stability and Growth of Payments

Stable Dividend: AGS's dividend payments have been volatile in the past 10 years.

Growing Dividend: AGS's dividend payments have increased over the past 10 years.

Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (51.2%), AGS's dividend payments are covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.

Next Steps


How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Michael Tay (46 yo)



Mr. Wee Jin Tay, also known as Michael, has been a Group Managing Director of Hour Glass Ltd. since April 1, 2020. Mr. Tay served as Deputy General Manager of Hour Glass Ltd. since April 2004. He joined Ho...

Leadership Team

Experienced Management: AGS's management team is not considered experienced ( 0.7 years average tenure), which suggests a new team.

Board Members

Experienced Board: AGS's board of directors are considered experienced (7.9 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: AGS insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

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

Top Shareholders

Company Information

The Hour Glass Limited's company bio, employee growth, exchange listings and data sources

Key Information

  • Name: The Hour Glass Limited
  • Ticker: AGS
  • Exchange: SGX
  • Founded: 1979
  • Industry: Specialty Stores
  • Sector: Retail
  • Market Cap: S$1.026b
  • Shares outstanding: 702.78m
  • Website:


  • The Hour Glass Limited
  • No. 11-01 Tong Building
  • 302 Orchard Road
  • Singapore
  • 238862
  • Singapore



The Hour Glass Limited, an investment holding company, retails and distributes watches, jewelry, and other luxury products in South East Asia, Australia, and North East Asia. It also invests in properties....

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/06/22 16:49
End of Day Share Price2021/06/22 00:00
Annual Earnings2021/03/31

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.