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$0.11
▲(14.00% Upside)
Action:ReiteratedDate: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
Revenue Momentum & Return to Profitability
Sustained revenue growth and a return to positive net results indicate recovering end-market demand and improving unit economics. Over a 2–6 month horizon this supports steadier operating cash generation, improved coverage of fixed costs, and a more credible base for reinvesting in stores and product assortments.
Negative Factors
Elevated and Rising Leverage
Very high and rapidly rising leverage materially reduces financial flexibility and raises refinancing and interest-rate exposure. Given modest earnings, this capital structure constrains investment options, raises default risk in stress, and makes operating performance more sensitive to macro or cost shocks over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Momentum & Return to Profitability
Sustained revenue growth and a return to positive net results indicate recovering end-market demand and improving unit economics. Over a 2–6 month horizon this supports steadier operating cash generation, improved coverage of fixed costs, and a more credible base for reinvesting in stores and product assortments.
Read all positive factors
Aspial Corporation Limited (A30) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$319.35M
Dividend YieldN/A
Average Volume (3M)195.26K
Price to Earnings (P/E)―
Beta (1Y)0.26
Revenue Growth29.11%
EPS Growth288.00%
CountrySG
Employees302
SectorConsumer Cyclical
Sector Strength84
IndustryReal Estate - Services
Share Statistics
EPS (TTM)<0.01
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
Aspial Corporation Limited, an investment holding company, operates in the real estate, financial service, and jewelry businesses in Singapore, Australia, Malaysia, Hong Kong, Germany, China, and Ireland. It is involved in the provision of pawn br...
How the Company Makes Money
Aspial generates revenue primarily from (1) retail sales of jewellery, precious metal products, and timepieces to consumers, where it earns gross profit on the spread between sourcing/manufacturing costs and selling prices; and (2) ancillary incom...
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
Positive
0.10
Price Trends
0.12
Positive
0.11
Positive
0.10
Positive
Market Momentum
<0.01
Negative
61.87
Neutral
87.29
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:A30, the sentiment is Positive. The current price of 0.1 is below the 20-day moving average (MA) of 0.11, below the 50-day MA of 0.12, and below the 200-day MA of 0.10, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 61.87 is Neutral, neither overbought nor oversold. The STOCH value of 87.29 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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$823.77M | 18.56 | 1.11% | 1.20% | -5.87% | 20.27% | |
65 Neutral | S$623.49M | ― | 4.34% | 3.17% | 29.06% | -8.70% | |
65 Neutral | S$302.75M | 1.34 | 2.23% | 2.20% | 3944.45% | 1354.51% | |
64 Neutral | S$91.06M | -25.00 | -0.28% | ― | -1.52% | 500.00% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
49 Neutral | S$319.35M | ― | 3.43% | ― | 29.11% | 288.00% | |
40 Underperform | S$66.48M | -10.58 | -3.08% | ― | -1.79% | ― |
* Consumer Cyclical Sector Average
SG:A30
Aspial Corporation Limited
0.14
0.08
130.65%
SG:5DM
Ying Li International Real Estate Limited
0.03
<0.01
18.18%
SG:O10
Far East Orchard Ltd.
1.27
0.28
28.41%
SG:5AE
Pollux Properties Ltd.
0.03
0.01
65.00%
SG:H30
Hong Fok Corporation Limited
1.00
0.27
36.30%
SG:5IC
Sing Holdings Ltd.
0.76
0.44
136.68%
Aspial Corporation Limited Corporate Events
AF Global Reaches Key Milestone in Privatisation Scheme Meeting
Mar 10, 2026
AF Global Limited reported the results of a court-convened scheme meeting held on 10 March 2026, called to consider a proposed acquisition of all its issued shares, excluding those held by Aspial Corporation Limited and major shareholder Koh Wee M...
AF Global, AFG Investment Clarify Concert-Party Stakes in Ongoing Takeover Bid
Mar 4, 2026
AFG Investment Pte. Ltd. and AF Global Limited have jointly updated the market on a proposed acquisition of all issued ordinary shares of AF Global, excluding those held by Aspial Corporation Limited and Mr. Koh Wee Meng, via a court-sanctioned sc...
AFG Investment Locks In Final S$0.11 Offer in AF Global Buyout Scheme
Feb 25, 2026
AF Global Limited, which is being taken private via a scheme of arrangement, is the target of AFG Investment Pte. Ltd. in a deal that excludes shares already held by Aspial Corporation Limited and its controlling shareholder. The structure follows...
AF Global Defers Scheme Meeting After Xuzhou JV Update, Offer Terms Unchanged
Jan 21, 2026
AF Global Limited and AFG Investment Pte. Ltd. have jointly announced the deferment of the court-convened scheme meeting originally scheduled for 5 February 2026, which was to seek shareholder approval for AFG Investment’s proposed acquisiti...
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.