Hour Glass Ltd. (SG:AGS)
SGX:AGS
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Hour Glass Ltd.
(SGX:AGS)
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Rating:77Outperform
Price Target:
S$3.00
▲(31.58% Upside)
Action:Reiterated
Date:05/26/26
The score is driven primarily by strong fundamentals (solid growth, conservative balance sheet, and strong recent cash flow) and attractive valuation (low P/E with a dividend). Technicals are supportive but somewhat tempered by overbought momentum signals (high RSI/Stoch), which adds near-term risk of a pullback.
Positive Factors
Revenue Growth Trajectory
Consistent multi-year revenue expansion to 1,338.2M (2026) and double-digit revenue growth indicates durable demand and expanding market penetration. A larger revenue base improves operating leverage potential and supports reinvestment in stores, inventory and brand partnerships over the medium term.
Negative Factors
Gross Margin Compression
A material drop in gross margin to ~20.5% signals lasting pressure from higher product costs, heavier discounting or adverse mix/FX. Persistent margin erosion reduces earnings leverage from revenue growth and increases reliance on cost control or premium mix restoration to protect long-term profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth Trajectory
Consistent multi-year revenue expansion to 1,338.2M (2026) and double-digit revenue growth indicates durable demand and expanding market penetration. A larger revenue base improves operating leverage potential and supports reinvestment in stores, inventory and brand partnerships over the medium term.
Read all positive factors
Hour Glass Ltd. (AGS) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$1.60B
Dividend Yield2.6%
Average Volume (3M)52.48K
Price to Earnings (P/E)9.0
Beta (1Y)0.51
Revenue Growth15.08%
EPS Growth32.76%
CountrySG
Employees236
SectorConsumer Cyclical
Sector Strength84
IndustryLuxury Goods
Share Statistics
EPS (TTM)0.28
Shares Outstanding645,595,460
10 Day Avg. Volume50,600
30 Day Avg. Volume52,476
Financial Highlights & Ratios
PEG Ratio0.25
Price to Book (P/B)1.38
Price to Sales (P/S)1.10
P/FCF Ratio7.63
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
Hour Glass Ltd. Business Overview & Revenue Model
Company Description
Operating as an investment holding enterprise, The Hour Glass Limited specializes in the retail and distribution of high-end watches, fine jewelry, and other luxury items. Its market reach extends across Southeast Asia, Australia, and Northeast As...
How the Company Makes Money
Hour Glass Ltd. primarily makes money through retail sales of luxury watches to end customers, with revenue recognized when timepieces are sold through its boutiques and other retail channels. A key driver of earnings is the mix of brands and mode...
Hour Glass Ltd. Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
78
Positive
Cash Flow
81
Very Positive
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.34B | 1.16B | 1.13B | 1.12B | 1.03B |
| Gross Profit | 274.17M | 359.71M | 363.22M | 377.42M | 337.80M |
| EBITDA | 248.69M | 232.31M | 255.74M | 244.72M | 231.82M |
| Net Income | 179.43M | 135.81M | 156.49M | 172.37M | 154.70M |
Balance Sheet | |||||
| Total Assets | 1.44B | 1.18B | 1.13B | 1.06B | 1.09B |
| Cash, Cash Equivalents and Short-Term Investments | 157.53M | 178.69M | 237.57M | 244.55M | 323.36M |
| Total Debt | 209.35M | 151.81M | 175.84M | 167.91M | 216.36M |
| Total Liabilities | 358.90M | 238.37M | 269.91M | 268.22M | 325.70M |
| Stockholders Equity | 1.07B | 926.68M | 848.40M | 774.03M | 751.60M |
Cash Flow | |||||
| Free Cash Flow | 193.79M | 129.89M | 112.24M | 66.78M | 208.38M |
| Operating Cash Flow | 225.03M | 157.78M | 131.63M | 160.82M | 221.47M |
| Investing Cash Flow | -108.95M | -104.88M | -25.82M | -87.93M | -44.97M |
| Financing Cash Flow | -145.42M | -112.52M | -108.08M | -141.35M | -98.11M |
Hour Glass Ltd. Technical Analysis
Positive
2.28
Price Trends
2.47
Positive
2.38
Positive
2.26
Positive
Market Momentum
0.02
Positive
50.34
Neutral
33.33
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:AGS, the sentiment is Positive. The current price of 2.28 is below the 20-day moving average (MA) of 2.52, below the 50-day MA of 2.47, and above the 200-day MA of 2.26, indicating a neutral trend. The MACD of 0.02 indicates Positive momentum. The RSI at 50.34 is Neutral, neither overbought nor oversold. The STOCH value of 33.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SG:AGS.
Hour Glass Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | S$1.60B | 9.01 | 17.57% | 2.60% | 15.08% | 32.76% | |
75 Outperform | S$111.32M | 8.87 | 9.26% | 1.99% | 35.15% | 42.72% | |
73 Outperform | S$698.20M | 18.36 | 22.53% | 5.76% | 41.28% | 172.52% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
49 Neutral | S$323.82M | 15.27 | 3.43% | ― | 29.11% | 288.00% |
* Consumer Cyclical Sector Average
SG:AGS
Hour Glass Ltd.
2.51
0.81
47.65%
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0.86
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Aspial Corporation Limited
0.14
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Cortina Holdings Limited
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12.82%
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.