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The Hour Glass Post Reply Rate topic
choonoohc Member	08-Mar-2021 22:39        choonoohc About Contact  Quote this Post!
x 0   x 0  Alert Admin	The Hour Glass (AGS) - Both are multi-brand watch retailers, selling the likes of PP, Rolex and AP. THG trades at PE 6X vs Watches of Switzerland PE 39X. Yet THG earns a higher profit (SGD76M vs GBP38M), has fatter op margin (12% vs 8%), and a safer bal sheet (net cash vs net debt). Quality is oozing but not priced in. THG is the rare, quality, underpriced stock to ride Asia&rsquo s growing affluence. https://preview.redd.it/41ratsixdtl61.jpg?width=728& format=pjpg& auto=webp& s=d9acdfd456cbdbf2afd3468affa455cebf3d78a5
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choonoohc Member	07-Mar-2021 23:15        choonoohc About Contact  Quote this Post!
x 0   x 0  Alert Admin	The excess cash and investment properties are exogenous / not utilised in the generation of historical/current earnings. But there is a significant value to them given their size. Thus the adjusted PE ratio is to recognise their value. Similar to the valaution of other companies with lots of excess net cash e.g. Apple. nqing87      ( Date: 06-Mar-2021 16:32) Posted: P/e is defined as share price divide by earnings per share (eps) isn't it? If share price is 1 dollar, 77mil earnings is equivalent to 10.8 cents eps base on their issued shares.. then 100/10.8= 9.2 p/e.. take note that current full year might have lower eps due to covid as can be seen by their latest half year results, but hour glass should be recovering their business in 2nd half results of the year choonoohc      ( Date: 06-Mar-2021 15:16) Posted: The Hour Gass (AGS) Mkt has started to discover this gem of a business. At $1, PE of just 6X. Much more room to rise. Net profit grew from S$54M in FY2016 to S$77M in FY2020 on a pristine bal sheet. How many SGX companies have such a stellar track record? At $1.00, - market cap is $705m - less net cash of $136m and investment properties of $104m (as at Sep2020) - adjusted market cap is $465m  - deriving PE of 465 / 76 = 6X (based on FY2020 actual earnings)
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nqing87 Supreme	06-Mar-2021 16:32        nqing87 About Contact  Quote this Post!
x 0   x 0  Alert Admin	P/e is defined as share price divide by earnings per share (eps) isn't it? If share price is 1 dollar, 77mil earnings is equivalent to 10.8 cents eps base on their issued shares.. then 100/10.8= 9.2 p/e.. take note that current full year might have lower eps due to covid as can be seen by their latest half year results, but hour glass should be recovering their business in 2nd half results of the year choonoohc      ( Date: 06-Mar-2021 15:16) Posted: The Hour Gass (AGS) Mkt has started to discover this gem of a business. At $1, PE of just 6X. Much more room to rise. Net profit grew from S$54M in FY2016 to S$77M in FY2020 on a pristine bal sheet. How many SGX companies have such a stellar track record? At $1.00, - market cap is $705m - less net cash of $136m and investment properties of $104m (as at Sep2020) - adjusted market cap is $465m  - deriving PE of 465 / 76 = 6X (based on FY2020 actual earnings)
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choonoohc Member	06-Mar-2021 15:16        choonoohc About Contact  Quote this Post!
x 0   x 0  Alert Admin	The Hour Gass (AGS) Mkt has started to discover this gem of a business. At $1, PE of just 6X. Much more room to rise. Net profit grew from S$54M in FY2016 to S$77M in FY2020 on a pristine bal sheet. How many SGX companies have such a stellar track record? At $1.00, - market cap is $705m - less net cash of $136m and investment properties of $104m (as at Sep2020) - adjusted market cap is $465m  - deriving PE of 465 / 76 = 6X (based on FY2020 actual earnings)
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bxylqwan Master	05-Mar-2021 13:02        bxylqwan About Contact  Quote this Post!
x 0   x 0  Alert Admin	Hot watches have decade-long waiting lists. Most popular models are sold even before they reach the display. The luxury watch market is booming right now.
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tan162122 Member	05-Mar-2021 12:46        tan162122 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Thanks choonoohc      ( Date: 05-Mar-2021 09:55) Posted: I guess its due to a Straits Times article saying the company is too under the radar and that company/mgmt should do more to promote itself. But even at $1, its very undervalued, given its track record, prospects and safe balance sheet. I would say it had done much better than many Temasek linked companies over the past 10 years.
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choonoohc Member	05-Mar-2021 09:55        choonoohc About Contact  Quote this Post!
x 0   x 0  Alert Admin	I guess its due to a Straits Times article saying the company is too under the radar and that company/mgmt should do more to promote itself. But even at $1, its very undervalued, given its track record, prospects and safe balance sheet. I would say it had done much better than many Temasek linked companies over the past 10 years.
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tan162122 Member	05-Mar-2021 09:12        tan162122 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Any idea why Hour Glass surged today ? Thanks choonoohc      ( Date: 26-Feb-2021 23:34) Posted: All time high of $0.88 reached today. Still the stock remains fundamentally very undervalued at just 5X historcial PE. At $0.88, - market cap is $620m - less net cash of $136m and investment properties of $104m (as at Sep2020) - adjusted market cap is $380m  - deriving PE of 380 / 76 = 5X (based on FY2020 actual earnings)
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choonoohc Member	26-Feb-2021 23:34        choonoohc About Contact  Quote this Post!
x 0   x 0  Alert Admin	All time high of $0.88 reached today. Still the stock remains fundamentally very undervalued at just 5X historcial PE. At $0.88, - market cap is $620m - less net cash of $136m and investment properties of $104m (as at Sep2020) - adjusted market cap is $380m  - deriving PE of 380 / 76 = 5X (based on FY2020 actual earnings)
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choonoohc Member	26-Feb-2021 13:47        choonoohc About Contact  Quote this Post!
x 0   x 0  Alert Admin	A high quality Singapore company/stock forgot by the market. PE could be as low as 6X after adjusting for net cash and investment properties. DYODD. Price is finally breaching all time high on higher than usual volumes this week. With no significant retail sector on SGX, the the SG market has overlooked this gem. Relocating to HKEX which has more retail stocks would likely bring about a higher valuation.  - Track record of high quality earnings growth. - Resilient profits in COVID. - Astute management which over the years has built much value through growth. - Net cash with many investment properties.
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Due_Dilligence Veteran	29-Jun-2020 23:22        Due_Dilligence About Contact  Quote this Post!
x 0   x 0  Alert Admin	Reported profit and revenue up for Q1. I cannot believe that in Covid 19 situation, it can generate better turnover and profits. And giving 2 cents dividends. Vested
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