SGX:AGS

Stock Analysis Report

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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

Flawless balance sheet with solid track record.

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 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-1.4%

AGS

-0.4%

SG Specialty Retail

-0.7%

SG Market


1 Year Return

-15.5%

AGS

-3.9%

SG Specialty Retail

-22.2%

SG Market

Return vs Industry: AGS underperformed the SG Specialty Retail industry which returned -3.9% over the past year.

Return vs Market: AGS exceeded the SG Market which returned -22.2% over the past year.


Shareholder returns

AGSIndustryMarket
7 Day-1.4%-0.4%-0.7%
30 Day0%1.5%1.4%
90 Day0%6.4%-2.6%
1 Year-13.1%-15.5%0.9%-3.9%-17.9%-22.2%
3 Year10.0%0%-8.7%-18.2%-20.3%-30.0%
5 Year9.0%-6.2%-23.4%-32.8%-4.5%-21.9%

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 compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: AGS (SGD0.68) is trading below our estimate of fair value (SGD2.43)

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


Price To Earnings Ratio

PE vs Industry: AGS is good value based on its PE Ratio (6.3x) compared to the SG Specialty Retail industry average (15x).

PE vs Market: AGS is good value based on its PE Ratio (6.3x) compared to the SG market (13.1x).


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's PB Ratio (0.8x) is in line with the SG Specialty Retail industry average.


Next Steps

Future Growth

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

21.2%

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.


Next Steps

Past Performance

How has Hour Glass performed over the past 5 years?

7.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AGS has high quality earnings.

Growing Profit Margin: AGS's current net profit margins (10.2%) are higher than last year (9.8%).


Past Earnings Growth Analysis

Earnings Trend: AGS's earnings have grown by 7.7% per year over the past 5 years.

Accelerating Growth: AGS's earnings growth over the past year (8.1%) exceeds its 5-year average (7.7% per year).

Earnings vs Industry: AGS earnings growth over the past year (8.1%) exceeded the Specialty Retail industry 8%.


Return on Equity

High ROE: AGS's Return on Equity (12.4%) is considered low.


Next Steps

Financial Health

How is Hour Glass's financial position?


Financial Position Analysis

Short Term Liabilities: AGS's short term assets (SGD490.2M) exceed its short term liabilities (SGD151.2M).

Long Term Liabilities: AGS's short term assets (SGD490.2M) exceed its long term liabilities (SGD82.4M).


Debt to Equity History and Analysis

Debt Level: AGS's debt to equity ratio (10.3%) is considered satisfactory.

Reducing Debt: AGS's debt to equity ratio has reduced from 14.5% to 10.3% over the past 5 years.

Debt Coverage: AGS's debt is well covered by operating cash flow (170.9%).

Interest Coverage: AGS's interest payments on its debt are well covered by EBIT (54.3x coverage).


Balance Sheet


Next Steps

Dividend

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

2.94%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: AGS's dividend (2.94%) is higher than the bottom 25% of dividend payers in the SG market (2.59%).

High Dividend: AGS's dividend (2.94%) is low compared to the top 25% of dividend payers in the SG market (5.34%).


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 low payout ratio (18.5%), AGS's dividend payments are well 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

Management

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

12.5yrs

Average management tenure


CEO

Michael Tay (45 yo)

0.50

Tenure

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

NamePositionTenureCompensationOwnership
Yun Tay
Co-Founder & Executive Chairman33yrsno data9.36%
SGD 44.8m
Wee Jin Tay
Group MD & Executive Director0.50yrno data3.81%
SGD 18.2m
Siak Ng
Chief Financial Officer12.5yrsno datano data
Tun Ho
Group General Managerno datano datano data
Meng Yook Chan
Company Secretaryno datano datano data
Wai Yang Chung
Managing Director of the Hour Glass (HK) Limitedno datano datano data
John Glajz
Managing Director of Glajz-THG Pte Ltdno datano datano data
Atsushi Momoi
GM of the Hour Glass Japan Ltd & Director of the Hour Glass Japan Ltdno datano datano data

12.5yrs

Average Tenure

51yo

Average Age

Experienced Management: AGS's management team is seasoned and experienced (12.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Yun Tay
Co-Founder & Executive Chairman33yrsno data9.36%
SGD 44.8m
Wee Jin Tay
Group MD & Executive Director0.50yrno data3.81%
SGD 18.2m
Atsushi Momoi
GM of the Hour Glass Japan Ltd & Director of the Hour Glass Japan Ltdno datano datano data
Boon Wee Kuah
Lead Independent Non-Executive Director7.25yrsno datano data
Swee Kheng Chan
Non-Independent Non-Executive Director16.5yrsno data0.45%
SGD 2.2m
Wai Han Lock
Independent Non-Executive Directorno datano datano data
Choon Wei Liew
Independent Non Executive Director3.5yrsno datano data
Yu Chern Lee
Independent Non-Executive Director3yrsno datano data

11.2yrs

Average Tenure

56yo

Average Age

Experienced Board: AGS's board of directors are seasoned and experienced ( 11.2 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: Insufficient data to determine if 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$478.708m
  • Shares outstanding: 703.98m
  • 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. 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 Analysis2020/10/27 12:56
End of Day Share Price2020/10/27 00:00
Earnings2020/03/31
Annual Earnings2020/03/31


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.