Hartalega Holdings Berhad

KLSE:HARTA Stock Report

Market Cap: RM 13.3b

Hartalega Holdings Berhad Valuation

Is HARTA undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of HARTA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: HARTA (MYR3.91) is trading above our estimate of fair value (MYR2.62)

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

Key Valuation Metric

Which metric is best to use when looking at relative valuation for HARTA?

Key metric: As HARTA is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for HARTA. This is calculated by dividing HARTA's market cap by their current revenue.
What is HARTA's PS Ratio?
PS Ratio6.1x
SalesRM 2.18b
Market CapRM 13.35b

Price to Sales Ratio vs Peers

How does HARTA's PS Ratio compare to its peers?

The above table shows the PS ratio for HARTA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average3.2x
TOPGLOV Top Glove Corporation Bhd
3.6x22.2%RM 10.6b
KOSSAN Kossan Rubber Industries Bhd
3.9x17.3%RM 7.0b
SUPERMX Supermax Corporation Berhad
4.4x25.2%RM 3.1b
COMFORT Comfort Gloves Berhad
0.8xn/aRM 266.3m
HARTA Hartalega Holdings Berhad
6.1x19.5%RM 13.3b

Price-To-Sales vs Peers: HARTA is expensive based on its Price-To-Sales Ratio (6.1x) compared to the peer average (3.2x).

Price to Sales Ratio vs Industry

How does HARTA's PS Ratio compare vs other companies in the Asian Medical Equipment Industry?

33 CompaniesPrice / SalesEstimated GrowthMarket Cap
HARTA 6.1xIndustry Avg. 3.4xNo. of Companies48PS02.85.68.411.214+
33 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: HARTA is expensive based on its Price-To-Sales Ratio (6.1x) compared to the Asian Medical Equipment industry average (3.4x).

Price to Sales Ratio vs Fair Ratio

What is HARTA's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

HARTA PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio6.1x
Fair PS Ratio2.1x

Price-To-Sales vs Fair Ratio: HARTA is expensive based on its Price-To-Sales Ratio (6.1x) compared to the estimated Fair Price-To-Sales Ratio (2.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst HARTA forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentRM 3.91
RM 3.54
-9.5%
19.4%RM 4.80RM 2.10n/a19
Dec ’25RM 3.52
RM 3.40
-3.4%
16.7%RM 4.31RM 2.10n/a19
Nov ’25RM 3.19
RM 3.06
-3.9%
17.2%RM 4.28RM 2.10n/a19
Oct ’25RM 2.92
RM 3.03
+3.8%
17.8%RM 4.28RM 2.10n/a19
Sep ’25RM 2.47
RM 3.02
+22.2%
18.1%RM 4.28RM 2.10n/a19
Aug ’25RM 3.00
RM 3.32
+10.7%
20.0%RM 4.45RM 2.30n/a20
Jul ’25RM 3.35
RM 3.33
-0.5%
20.5%RM 4.50RM 2.30n/a20
Jun ’25RM 3.14
RM 3.28
+4.5%
22.4%RM 4.50RM 2.07n/a20
May ’25RM 2.80
RM 2.53
-9.5%
22.4%RM 3.35RM 1.20n/a20
Apr ’25RM 2.69
RM 2.50
-7.0%
21.7%RM 3.35RM 1.20n/a20
Mar ’25RM 2.55
RM 2.50
-1.8%
21.7%RM 3.35RM 1.20n/a20
Feb ’25RM 2.74
RM 2.38
-13.2%
22.1%RM 3.25RM 1.20n/a20
Jan ’25RM 2.70
RM 2.32
-14.2%
20.7%RM 3.20RM 1.20n/a20
Dec ’24RM 2.46
RM 2.16
-12.3%
19.9%RM 2.80RM 1.20RM 3.5219
Nov ’24RM 2.03
RM 1.84
-9.4%
25.0%RM 2.80RM 1.15RM 3.1919
Oct ’24RM 1.99
RM 1.83
-7.9%
24.5%RM 2.80RM 1.15RM 2.9220
Sep ’24RM 1.95
RM 1.83
-6.0%
24.5%RM 2.80RM 1.15RM 2.4720
Aug ’24RM 2.26
RM 1.83
-19.2%
27.0%RM 2.80RM 1.18RM 3.0021
Jul ’24RM 1.89
RM 1.83
-3.4%
27.0%RM 2.80RM 1.18RM 3.3521
Jun ’24RM 2.33
RM 1.84
-20.9%
27.4%RM 2.80RM 1.18RM 3.1421
May ’24RM 1.88
RM 1.61
-14.6%
22.4%RM 2.42RM 1.18RM 2.8021
Apr ’24RM 1.90
RM 1.56
-18.0%
22.0%RM 2.42RM 1.18RM 2.6921
Mar ’24RM 1.45
RM 1.48
+2.2%
15.8%RM 2.00RM 1.18RM 2.5521
Feb ’24RM 1.61
RM 1.87
+15.9%
49.6%RM 5.80RM 1.20RM 2.7421
Jan ’24RM 1.70
RM 1.89
+11.2%
48.5%RM 5.80RM 1.20RM 2.7021
Dec ’23RM 1.66
RM 1.92
+15.8%
47.5%RM 5.80RM 1.20RM 2.4621

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/21 23:13
End of Day Share Price 2024/12/20 00:00
Earnings2024/09/30
Annual Earnings2024/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Hartalega Holdings Berhad is covered by 35 analysts. 19 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Ken-Wern LimAffin Hwang Investment Bank
Nafisah AzmiAmInvestment Bank Berhad
Pak ThongAmInvestment Bank Berhad