SGX:O08

Stock Analysis Report

Ossia International

Executive Summary

Ossia International Limited, an investment holding company, markets, distributes, imports, and retails fashion and sports apparel, sporting goods, footwear, accessories, bags, and golf equipment in the Asia Pacific region.

Rewards

PE ratio (5.6x) is below the SG market (13.5x)

Risk Analysis

High level of non-cash earnings

Unstable dividend track record

Does not have a meaningful market cap (SGD29M)



Snowflake Analysis

Excellent balance sheet second-rate dividend payer.

Share Price & News

How has Ossia International's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: O08 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

5.2%

O08

1.2%

SG Retail Distributors

0.8%

SG Market


1 Year Return

30.1%

O08

-16.6%

SG Retail Distributors

2.2%

SG Market

Return vs Industry: O08 exceeded the SG Retail Distributors industry which returned -15.3% over the past year.

Return vs Market: O08 exceeded the SG Market which returned 2.1% over the past year.


Shareholder returns

O08IndustryMarket
7 Day5.2%1.2%0.8%
30 Day10.0%0.9%2.5%
90 Day10.0%2.1%5.3%
1 Year38.6%30.1%-13.5%-16.6%6.4%2.2%
3 Year-3.8%-19.3%-16.9%-24.3%17.4%4.8%
5 Year-32.9%-43.7%-11.9%-26.4%12.9%-6.1%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Ossia International undervalued compared to its fair value and its price relative to the market?

5.65x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: O08 (SGD0.12) is trading above our estimate of fair value (SGD0.12)

Significantly Below Fair Value: O08 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: O08 is good value based on its PE Ratio (5.4x) compared to the Retail Distributors industry average (6.6x).

PE vs Market: O08 is good value based on its PE Ratio (5.4x) compared to the SG market (13.5x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate O08's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: O08 is overvalued based on its PB Ratio (0.7x) compared to the SG Retail Distributors industry average (0.5x).


Next Steps

Future Growth

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

10.6%

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 Ossia International 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 Ossia International performed over the past 5 years?

72.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: O08 has a high level of non-cash earnings.

Growing Profit Margin: O08's current net profit margins (22.8%) are lower than last year (22.9%).


Past Earnings Growth Analysis

Earnings Trend: O08 has become profitable over the past 5 years, growing earnings by 72.7% per year.

Accelerating Growth: O08's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: O08 had negative earnings growth (-17.4%) over the past year, making it difficult to compare to the Retail Distributors industry average (-12%).


Return on Equity

High ROE: O08's Return on Equity (12.9%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Ossia International's financial position?


Financial Position Analysis

Short Term Liabilities: O08's short term assets (SGD23.1M) exceed its short term liabilities (SGD12.5M).

Long Term Liabilities: O08's short term assets (SGD23.1M) exceed its long term liabilities (SGD776.0K).


Debt to Equity History and Analysis

Debt Level: O08's debt to equity ratio (18.5%) is considered satisfactory.

Reducing Debt: O08's debt to equity ratio has reduced from 21.5% to 18.5% over the past 5 years.

Debt Coverage: O08's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: O08's interest payments on its debt are well covered by EBIT (12.4x coverage).


Balance Sheet

Inventory Level: O08 has a high level of physical assets or inventory.

Debt Coverage by Assets: O08's debt is covered by short term assets (assets are 3x debt).


Next Steps

Dividend

What is Ossia International's current dividend yield, its reliability and sustainability?

5.54%

Current Dividend Yield


Dividend Yield vs Market

company5.5%marketbottom25%2.4%markettop25%5.4%industryaverage3.9%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: O08's dividend (5.83%) is higher than the bottom 25% of dividend payers in the SG market (2.5%).

High Dividend: O08's dividend (5.83%) is in the top 25% of dividend payers in the SG market (5.41%)


Stability and Growth of Payments

Stable Dividend: O08's dividend payments have been volatile in the past 10 years.

Growing Dividend: O08's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (31.3%), O08'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

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

20.5yrs

Average board tenure


CEO

Steven Goh (54yo)

0yrs

Tenure

0

Mr. Ching Huat Goh, also known as Steven, is Co-Founder of VGO Corporation Limited and serves as its Chief Executive Officer. Mr. Goh serves as Chief Executive Officer of Ossia International Limited. Mr. G ...


Board Age and Tenure

20.5yrs

Average Tenure

60yo

Average Age

Experienced Board: O08's board of directors are seasoned and experienced ( 20.5 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

  • Steven Goh (54yo)

    CEO & Executive Director

    • Joe Goh (60yo)

      Executive Director

      • Tenure: 29.3yrs
    • George Goh (60yo)

      Group Executive Chairman

      • Tenure: 10.5yrs
    • Lotus Isabella Lim

      Company Secretary

      • Simon Wong (66yo)

        Managing Director of Ossia (HK) Company Limited

        • Chris Lim (57yo)

          Executive Director of Alstyle International (M) Sdn Bhd

          • Tenure: 24yrs
        • Bee Fong Lee

          Company Secretary

          • Tenure: 13.5yrs
        • Tammy Tam (42yo)

          Corporate Finance Manager

          • Emily Chan

            Senior Accountant


            Board Members

            • Anthony Clifford Brown (79yo)

              Independent & Non-Executive Director

              • Tenure: 17.7yrs
            • Steven Goh (54yo)

              CEO & Executive Director

              • Joe Goh (60yo)

                Executive Director

                • Tenure: 29.3yrs
              • King Kheng Wong (65yo)

                Independent & Non-Executive Director

                • Tenure: 23.3yrs
              • George Goh (60yo)

                Group Executive Chairman

                • Tenure: 10.5yrs
              • Mae Heng (49yo)

                Independent & Non-Executive Director

                • Tenure: 9.8yrs

              Company Information

              Ossia International Limited's company bio, employee growth, exchange listings and data sources


              Key Information

              • Name: Ossia International Limited
              • Ticker: O08
              • Exchange: SGX
              • Founded: 1982
              • Industry: Distributors
              • Sector: Retail
              • Market Cap: S$30.568m
              • Shares outstanding: 252.63m
              • Website: https://www.ossia.com.sg

              Location

              • Ossia International Limited
              • No. 07-01 Ossia Building
              • 10 Changi South Lane
              • Singapore
              • 486162
              • Singapore

              Listings

              TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
              O08SGX (Singapore Exchange)YesOrdinary SharesSGSGDNov 1996

              Biography

              Ossia International Limited, an investment holding company, markets, distributes, imports, and retails fashion and sports apparel, sporting goods, footwear, accessories, bags, and golf equipment in the Asia Pacific region. It also designs, markets, and distributes fashion wear and accessories. The company serves customers through a network of approximately 1,300 channels/outlets. Ossia International Limited was founded in 1982 and is based in Singapore. 


              Company Analysis and Financial Data Status

              All financial data provided by Standard & Poor's Capital IQ.
              DataLast Updated (UTC time)
              Company Analysis2020/01/17 12:36
              End of Day Share Price2020/01/16 00:00
              Earnings2019/09/30
              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.