Hartalega Holdings Berhad

KLSE:HARTA Stock Report

Market Cap: RM 7.1b

Hartalega Holdings Berhad Valuation

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

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings 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.

Discounted Cash Flow
Simply Wall St
RM 2.01
Fair Value
3.8% overvalued intrinsic discount
19
Number of Analysts

Below Fair Value: HARTA (MYR2.09) is trading above our estimate of fair value (MYR2.01)

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 profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for HARTA. This is calculated by dividing HARTA's market cap by their current earnings.
What is HARTA's PE Ratio?
PE Ratio95.2x
EarningsRM 74.96m
Market CapRM 7.13b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for HARTA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average52.4x
TOPGLOV Top Glove Corporation Bhd
87.9x51.4%RM 7.0b
KOSSAN Kossan Rubber Industries Bhd
38.3x18.1%RM 4.6b
ADVENTA Adventa Berhad
33.5xn/aRM 70.3m
688289 Sansure Biotech
50.1x38.0%CN¥13.0b
HARTA Hartalega Holdings Berhad
95.2x61.1%RM 7.1b

Price-To-Earnings vs Peers: HARTA is expensive based on its Price-To-Earnings Ratio (95.2x) compared to the peer average (52.4x).

Price to Earnings Ratio vs Industry

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

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
HARTA 95.2xIndustry Avg. 24.4xNo. of Companies36PE020406080100+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: HARTA is expensive based on its Price-To-Earnings Ratio (95.2x) compared to the Asian Medical Equipment industry average (24.4x).

Price to Earnings Ratio vs Fair Ratio

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

HARTA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio95.2x
Fair PE Ratio102x

Price-To-Earnings vs Fair Ratio: HARTA is good value based on its Price-To-Earnings Ratio (95.2x) compared to the estimated Fair Price-To-Earnings Ratio (102x).

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 2.09
RM 2.96
+41.7%
16.8%RM 4.00RM 2.29n/a19
Mar ’26RM 2.25
RM 2.96
+31.6%
16.8%RM 4.00RM 2.29n/a19
Feb ’26RM 3.31
RM 3.66
+10.5%
16.9%RM 4.80RM 2.29n/a19
Jan ’26RM 3.95
RM 3.54
-10.5%
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 1.20RM 2.2520
Feb ’25RM 2.74
RM 2.38
-13.2%
22.1%RM 3.25RM 1.20RM 3.3120
Jan ’25RM 2.70
RM 2.32
-14.2%
20.7%RM 3.20RM 1.20RM 3.9520
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
Analyst Price Target
Consensus Narrative from 19 Analysts
RM 2.96
Fair Value
29.4% undervalued intrinsic discount
19
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/03/23 12:18
End of Day Share Price 2025/03/21 00:00
Earnings2024/12/31
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.

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 Github.

Analyst Sources

Hartalega Holdings Berhad is covered by 37 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
Nadia Binti SubhanAffin Hwang Investment Bank
Ken-Wern LimAffin Hwang Investment Bank
Nafisah AzmiAmInvestment Bank Berhad