Top Glove Corporation Bhd

KLSE:TOPGLOV Stock Report

Mkt Cap: RM6.8b

We’ve recently updated our valuation analysis.

Top Glove Corporation Bhd Valuation

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

[object Object] Score

1/6

Valuation Score 1/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

TOPGLOV key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1.1x
Enterprise Value/EBITDA10.6x
PEG Ratio1.3x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for TOPGLOV vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average16.5x
HARTA Hartalega Holdings Berhad
32x34.3%RM5.7b
KOSSAN Kossan Rubber Industries Bhd
7.4x3.9%RM2.8b
SUPERMX Supermax Corporation Berhad
26.3x34.0%RM2.3b
COMFORT Comfort Gloves Berhad
0.6xn/aRM266.5m
TOPGLOV Top Glove Corporation Bhd
30x22.9%RM6.8b

Price-To-Earnings vs Peers: TOPGLOV is expensive based on its Price-To-Earnings Ratio (30x) compared to the peer average (16.5x).


Price to Earnings Ratio vs Industry

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

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a17.7%
n/an/an/a

Price-To-Earnings vs Industry: TOPGLOV is expensive based on its Price-To-Earnings Ratio (30x) compared to the Asian Medical Equipment industry average (22.8x)


Price to Earnings Ratio vs Fair Ratio

What is TOPGLOV'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.

TOPGLOV PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio30x
Fair PE Ratio23.8x

Price-To-Earnings vs Fair Ratio: TOPGLOV is expensive based on its Price-To-Earnings Ratio (30x) compared to the estimated Fair Price-To-Earnings Ratio (23.8x).


Share Price vs Fair Value

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

Below Fair Value: TOPGLOV (MYR0.85) is trading below our estimate of fair value (MYR0.88)

Significantly Below Fair Value: TOPGLOV is trading below fair value, but not by a significant amount.


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 TOPGLOV forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentRM0.84
RM0.65
-22.9%
43.5%RM1.81RM0.45n/a21
Nov ’23RM0.80
RM0.66
-18.1%
43.2%RM1.81RM0.45n/a21
Oct ’23RM0.63
RM0.66
+4.8%
43.2%RM1.81RM0.45n/a21
Sep ’23RM0.80
RM0.94
+17.0%
32.3%RM2.00RM0.45n/a20
Aug ’23RM0.99
RM0.95
-4.4%
30.6%RM2.00RM0.50n/a20
Jul ’23RM1.01
RM1.08
+6.5%
26.2%RM2.00RM0.65n/a21
Jun ’23RM1.37
RM1.53
+11.3%
30.8%RM3.00RM0.91n/a21
May ’23RM1.68
RM1.55
-8.0%
30.8%RM3.00RM0.91n/a21
Apr ’23RM2.05
RM1.55
-24.5%
30.7%RM3.00RM0.91n/a21
Mar ’23RM2.06
RM2.01
-2.5%
26.1%RM3.20RM1.40n/a21
Feb ’23RM2.13
RM2.01
-5.7%
26.1%RM3.20RM1.40n/a21
Jan ’23RM2.59
RM2.01
-22.5%
26.1%RM3.20RM1.40n/a21
Dec ’22RM2.74
RM2.73
-0.3%
18.9%RM3.60RM1.50RM0.8421
Nov ’22RM2.65
RM2.84
+7.0%
15.7%RM3.60RM1.68RM0.8020
Oct ’22RM2.70
RM3.09
+14.3%
33.1%RM7.25RM1.68RM0.6321
Sep ’22RM3.92
RM5.13
+30.9%
24.9%RM7.80RM2.80RM0.8021
Aug ’22RM3.98
RM5.13
+28.9%
24.9%RM7.80RM2.80RM0.9921
Jul ’22RM4.07
RM5.34
+31.1%
21.6%RM7.80RM3.50RM1.0121
Jun ’22RM5.09
RM6.41
+25.9%
21.7%RM9.80RM3.50RM1.3722
May ’22RM5.65
RM6.40
+13.2%
21.8%RM9.80RM3.50RM1.6822
Apr ’22RM4.64
RM6.44
+38.8%
21.1%RM9.80RM3.50RM2.0522
Mar ’22RM4.90
RM8.00
+63.2%
25.1%RM12.75RM3.50RM2.0622
Feb ’22RM6.74
RM8.45
+25.4%
23.7%RM12.75RM3.50RM2.1322
Jan ’22RM6.12
RM8.72
+42.4%
23.2%RM12.75RM3.50RM2.5922
Dec ’21RM6.79
RM9.86
+45.3%
25.4%RM16.00RM5.40RM2.7421

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


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