Aspial Corporation Limited (SG:A30)
SGX:A30
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Aspial Corporation Limited
(SGX:A30)
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Rating:49Neutral
Price Target:
S$0.15
▲(51.00% Upside)
Action:Reiterated
Date:02/26/26
The score is held back primarily by weak financial quality—high and rising leverage and negative free cash flow—despite improving revenue and a return to profitability. Technicals are supportive but look overextended, while valuation appears roughly moderate at a ~14.1 P/E.
Positive Factors
Diversified business model
Aspial's mix of jewelry retail and pawnbroking spreads revenue sources across product sales and interest/fee income. This structural diversification helps smooth cyclical jewelry demand, enables cross-selling between segments, and supports more resilient cash flows over a multi-month horizon.
Negative Factors
High and rising leverage
Leverage has risen sharply, leaving a stretched capital structure relative to current earnings. Elevated debt amplifies refinancing and interest-rate risk, reduces financial flexibility for investments or buybacks, and increases downside sensitivity if revenue or margins slip.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified business model
Aspial's mix of jewelry retail and pawnbroking spreads revenue sources across product sales and interest/fee income. This structural diversification helps smooth cyclical jewelry demand, enables cross-selling between segments, and supports more resilient cash flows over a multi-month horizon.
Read all positive factors
Aspial Corporation Limited (A30) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$323.82M
Dividend YieldN/A
Average Volume (3M)195.26K
Price to Earnings (P/E)15.0
Beta (1Y)0.32
Revenue Growth29.11%
EPS Growth288.00%
CountrySG
Employees302
SectorConsumer Cyclical
Sector Strength84
IndustryReal Estate - Services
Share Statistics
EPS (TTM)0.00
Shares Outstanding2,238,634,300
10 Day Avg. Volume75,550
30 Day Avg. Volume195,260
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)0.83
Price to Sales (P/S)0.27
P/FCF Ratio-10.19
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Aspial Corporation Limited Business Overview & Revenue Model
Company Description
Established in Singapore in 1970, Aspial Corporation Limited functions as an investment holding company with diversified interests across real estate, financial services, and the jewelry sector. Its operations span multiple international markets, ...
How the Company Makes Money
Aspial makes money primarily through two operating segments: (1) Jewelry retailing and (2) Financial services (pawnbroking and related secured-lending activities).
1) Jewelry retailing revenue and profit drivers
- Product sales: The jewelry segme...
Aspial Corporation Limited Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
32
Negative
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 776.51M | 875.80M | 678.36M | 600.00M | 506.24M | 417.18M |
| Gross Profit | 271.25M | 182.94M | 240.93M | 95.78M | 97.50M | 172.66M |
| EBITDA | 80.25M | 112.60M | 114.36M | 63.64M | 71.59M | 75.79M |
| Net Income | 20.02M | 30.11M | 14.10M | -23.54M | -14.71M | -363.00K |
Balance Sheet | ||||||
| Total Assets | 1.79B | 2.09B | 1.78B | 1.60B | 1.61B | 1.62B |
| Cash, Cash Equivalents and Short-Term Investments | 51.43M | 103.01M | 63.91M | 56.66M | 55.13M | 44.93M |
| Total Debt | 1.01B | 1.07B | 975.20M | 912.41M | 1.06B | 1.05B |
| Total Liabilities | 1.27B | 1.67B | 1.26B | 1.10B | 1.22B | 1.18B |
| Stockholders Equity | 405.23M | 279.44M | 406.44M | 417.74M | 312.28M | 352.73M |
Cash Flow | ||||||
| Free Cash Flow | -52.61M | -22.86M | -58.09M | 23.23M | 2.10M | -53.07M |
| Operating Cash Flow | -39.56M | 13.58M | -38.00M | 36.55M | 22.30M | -16.77M |
| Investing Cash Flow | 15.96M | -34.34M | 6.65M | 12.92M | 1.01M | -30.63M |
| Financing Cash Flow | 39.14M | 59.33M | 38.16M | -47.80M | -11.31M | 40.17M |
Aspial Corporation Limited Technical Analysis
Neutral
0.10
Price Trends
0.14
Negative
0.13
Positive
0.12
Positive
Market Momentum
>-0.01
Positive
33.73
Neutral
3.71
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:A30, the sentiment is Neutral. The current price of 0.1 is below the 20-day moving average (MA) of 0.16, below the 50-day MA of 0.14, and below the 200-day MA of 0.12, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 33.73 is Neutral, neither overbought nor oversold. The STOCH value of 3.71 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SG:A30.
Aspial Corporation Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | S$765.82M | 38.35 | 0.67% | 1.20% | -5.87% | 20.27% | |
65 Neutral | S$574.40M | 14.30 | 4.34% | 3.17% | 29.06% | -8.70% | |
64 Neutral | S$80.02M | -91.62 | -0.28% | ― | -1.52% | 500.00% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
51 Neutral | S$248.12M | 25.16 | 2.23% | 2.20% | 3944.45% | 1355.90% | |
49 Neutral | S$323.82M | 14.96 | 3.43% | ― | 29.11% | 288.00% |
* Consumer Cyclical Sector Average
SG:A30
Aspial Corporation Limited
0.15
0.08
126.56%
SG:O10
Far East Orchard Ltd.
1.17
0.20
20.87%
SG:5AE
Pollux Properties Ltd.
0.03
<0.01
31.82%
SG:H30
Hong Fok Corporation Limited
0.93
0.20
27.24%
SG:5IC
Sing Holdings Ltd.
0.50
0.24
91.12%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.