SGX:AGS

Stock Analysis Report

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.

Snowflake

Fundamentals

Flawless balance sheet with solid track record and pays a dividend.

Risks

  • Hour Glass is not covered by any analysts.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-1.2%

AGS

0.2%

SG Specialty Retail

-0.7%

SG Market


1 Year Return

20.1%

AGS

-1.8%

SG Specialty Retail

-1.5%

SG Market

AGS outperformed the Specialty Retail industry which returned -1.8% over the past year.

AGS outperformed the Market in Singapore which returned -1.5% over the past year.


Share holder returns

AGSIndustryMarket
7 Day-1.2%0.2%-0.7%
30 Day1.3%-0.08%0.6%
90 Day3.2%-2.6%-4.3%
1 Year24.6%20.1%0.7%-1.8%2.5%-1.5%
3 Year29.4%17.5%-7.4%-15.2%16.5%4.1%
5 Year43.5%23.8%-32.5%-40.1%9.3%-8.8%

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

Valuation

Is Hour Glass undervalued based on future cash flows and its price relative to the stock market?

7.75x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Hour Glass's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

Hour Glass's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

Hour Glass is good value based on earnings compared to the SG Specialty Retail industry average.

Hour Glass is good value based on earnings compared to the Singapore market.


Price Based on Expected Growth

Unable to calculate PEG ratio for Hour Glass, we can't assess if its growth is good value.


Price Based on Value of Assets

Hour Glass is overvalued based on assets compared to the SG Specialty Retail industry average.


Next Steps

Future Growth

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

-3.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Unable to determine if Hour Glass is high growth as no revenue estimate data is available.

Hour Glass's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.

Unable to compare Hour Glass's revenue growth to the Singapore market average as no estimate data is available.

Hour Glass's earnings are expected to decrease over the next 1-3 years, this is below the Singapore market average.

Hour Glass's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.3%.


Earnings per Share Growth Estimates


Future Return on Equity

Unable to establish if Hour Glass will efficiently use shareholders’ funds in the future without estimates of Return on Equity.


Next Steps

  • Explore growth companies in the Retail industry.

Past Performance

How has Hour Glass performed over the past 5 years?

2.6%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Hour Glass's year on year earnings growth rate has been positive over the past 5 years.

Hour Glass's 1-year earnings growth exceeds its 5-year average (28.1% vs 2.6%)

Hour Glass's earnings growth has exceeded the SG Specialty Retail industry average in the past year (28.1% vs -5.6%).


Return on Equity

Hour Glass has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Hour Glass used its assets more efficiently than the SG Specialty Retail industry average last year based on Return on Assets.


Return on Capital Employed

Hour Glass has improved its use of capital last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Hour Glass's financial position?


Financial Position Analysis

Hour Glass is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Hour Glass's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

Hour Glass's level of debt (3%) compared to net worth is satisfactory (less than 40%).

The level of debt compared to net worth has been reduced over the past 5 years (10.5% vs 3% today).

Debt is well covered by operating cash flow (411.3%, greater than 20% of total debt).

Hour Glass earns more interest than it pays, coverage of interest payments is not a concern.


Balance Sheet

High level of physical assets or inventory.

Debt is covered by short term assets, assets are 28x debt.


Next Steps

Dividend

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

3.73%

Current Dividend Yield


Dividend Yield and Payments Analysis

Hour Glass's pays a higher dividend yield than the bottom 25% of dividend payers in Singapore (2.5%).

Hour Glass's dividend is below the markets top 25% of dividend payers in Singapore (5.62%).

Dividends per share have been stable in the past 10 years.

Dividends per share have increased over the past 10 years.


Current Payout to Shareholders

Dividends paid are well covered by earnings (3.5x coverage).


Future Payout to Shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.


Next Steps

Management

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

10.8yrs

Average management tenure


CEO

Kenny Chan (66yo)

10.3yrs

Tenure

0

Dr. Swee Kheng Chan, also known as Kenny, has been the Group Managing Director of Hour Glass Limited since June 2009. Dr. Chan served as the Group Chief Operating Officer of Hour Glass Ltd. since July 1, 2 ...


Management Age and Tenure

10.8yrs

Average Tenure

58yo

Average Age

The average tenure for the Hour Glass management team is over 5 years, this suggests they are a seasoned and experienced team.


Board Age and Tenure

8.4yrs

Average Tenure

55yo

Average Age

The tenure for the Hour Glass board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


Recent Insider Transactions

BuyS$124,25409 Jul 19
FMR LLC
EntityCompany
Shares151,300
Max PriceS$0.82
BuyS$6,901,90317 Apr 19
Yun Tay
EntityIndividual
Role
Chairman of the Board
Co-Founder & Executive Chairman
Shares9,721,000
Max PriceS$0.71
BuyS$335,00005 Apr 19
Yun Tay
EntityIndividual
Role
Chairman of the Board
Co-Founder & Executive Chairman
Shares500,000
Max PriceS$0.67

Ownership Breakdown


Management Team

  • Christine Chan

    Company Secretary

    • Tenure: 0yrs
  • Henry Tay (75yo)

    Co-Founder & Executive Chairman

    • Tenure: 31.9yrs
  • Kenny Chan (66yo)

    Group MD & Executive Director

    • Tenure: 10.3yrs
  • Michael Tay (44yo)

    Group MD & Executive Director

    • Tenure: 14.1yrs
  • Wai Yang Chung

    Managing Director of the Hour Glass (HK) Limited

    • Tenure: 0yrs
  • Atsushi Momoi

    GM of the Hour Glass Japan Ltd & Director of the Hour Glass Japan Ltd

    • Tenure: 0yrs
  • Siak Yong Ng (50yo)

    Chief Financial Officer

    • Tenure: 11.4yrs
  • John Glajz

    Managing Director of Glajz-THG Pte Ltd

    • Tenure: 0yrs
  • Norman Ho

    Group General Manager

    • Tenure: 0yrs

Board Members

  • Henry Tay (75yo)

    Co-Founder & Executive Chairman

    • Tenure: 31.9yrs
  • Boon Wee Kuah (52yo)

    Lead Independent Non-Executive Director

    • Tenure: 6.2yrs
  • Kenny Chan (66yo)

    Group MD & Executive Director

    • Tenure: 10.3yrs
  • Michael Tay (44yo)

    Group MD & Executive Director

    • Tenure: 14.1yrs
  • Atsushi Momoi

    GM of the Hour Glass Japan Ltd & Director of the Hour Glass Japan Ltd

    • Tenure: 0yrs
  • Pascal Demierre Guy (45yo)

    Independent Non-Executive Director

    • Tenure: 8.4yrs
  • Choon Wei Liew (65yo)

    Independent Non Executive Director

    • Tenure: 2.4yrs
  • Jeffry Lee (55yo)

    Independent Non-Executive Director

    • Tenure: 1.9yrs

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$567.535m
  • Shares outstanding: 705.01m
  • Website: https://www.thehourglass.com

Location

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

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AGSSGX (Singapore Exchange)YesOrdinary SharesSGSGDJan 1992

Biography

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. The company also invests in pr ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/09/19 12:39
End of Day Share Price2019/09/19 00:00
Earnings2019/06/30
Annual Earnings2019/03/31


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.