Top Glove Corporation Bhd.

KLSE:TOPGLOV Stock Report

Market Cap: RM 9.9b

Top Glove Corporation Bhd Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • 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 TOPGLOV when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: TOPGLOV (MYR1.23) is trading below our estimate of fair value (MYR1.27)

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


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/Revenue4.4x
Enterprise Value/EBITDA127.1x
PEG Ration/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for TOPGLOV vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average3.7x
HARTA Hartalega Holdings Berhad
6.4x19.8%RM 11.8b
KOSSAN Kossan Rubber Industries Bhd
3.9x18.5%RM 6.4b
SUPERMX Supermax Corporation Berhad
3.4x28.4%RM 2.4b
COMFORT Comfort Gloves Berhad
0.9xn/aRM 275.0m
TOPGLOV Top Glove Corporation Bhd
4.6x35.1%RM 9.9b

Price-To-Sales vs Peers: TOPGLOV is expensive based on its Price-To-Sales Ratio (4.6x) compared to the peer average (3.7x).


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/a20.9%
n/an/an/a
No. of CompaniesPS048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a20.9%
n/an/an/a
No more companies

Price-To-Sales vs Industry: TOPGLOV is expensive based on its Price-To-Sales Ratio (4.6x) compared to the Asian Medical Equipment industry average (3.3x).


Price to Sales Ratio vs Fair Ratio

What is TOPGLOV'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.

TOPGLOV PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio4.6x
Fair PS Ratio4.6x

Price-To-Sales vs Fair Ratio: TOPGLOV is good value based on its Price-To-Sales Ratio (4.6x) compared to the estimated Fair Price-To-Sales Ratio (4.6x).


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
CurrentRM 1.23
RM 1.02
-16.8%
22.2%RM 1.43RM 0.63n/a20
Jul ’25RM 1.12
RM 1.01
-10.0%
20.9%RM 1.43RM 0.63n/a20
Jun ’25RM 1.05
RM 0.86
-18.2%
23.0%RM 1.21RM 0.50n/a20
May ’25RM 0.88
RM 0.80
-8.9%
18.3%RM 1.10RM 0.50n/a20
Apr ’25RM 0.80
RM 0.80
+0.2%
18.3%RM 1.10RM 0.50n/a20
Mar ’25RM 0.81
RM 0.80
-0.7%
19.0%RM 1.10RM 0.50n/a20
Feb ’25RM 0.93
RM 0.77
-16.9%
17.4%RM 1.00RM 0.50n/a20
Jan ’25RM 0.90
RM 0.77
-14.8%
17.4%RM 1.00RM 0.50n/a20
Dec ’24RM 0.83
RM 0.68
-17.6%
19.0%RM 1.00RM 0.48n/a19
Nov ’24RM 0.70
RM 0.68
-2.9%
19.0%RM 1.00RM 0.48n/a19
Oct ’24RM 0.78
RM 0.75
-3.2%
27.3%RM 1.35RM 0.45n/a20
Sep ’24RM 0.74
RM 0.74
+0.7%
27.3%RM 1.35RM 0.45n/a21
Aug ’24RM 0.94
RM 0.74
-20.8%
27.3%RM 1.35RM 0.45n/a21
Jul ’24RM 0.81
RM 0.74
-8.1%
27.3%RM 1.35RM 0.45RM 1.1221
Jun ’24RM 1.13
RM 0.70
-37.8%
31.4%RM 1.35RM 0.45RM 1.0521
May ’24RM 0.98
RM 0.69
-29.6%
27.1%RM 1.05RM 0.45RM 0.8821
Apr ’24RM 0.94
RM 0.69
-26.9%
26.7%RM 1.05RM 0.45RM 0.8021
Mar ’24RM 0.71
RM 0.57
-20.6%
26.8%RM 1.05RM 0.32RM 0.8121
Feb ’24RM 0.83
RM 0.60
-27.3%
48.1%RM 1.81RM 0.32RM 0.9321
Jan ’24RM 0.91
RM 0.60
-33.5%
48.2%RM 1.81RM 0.32RM 0.9021
Dec ’23RM 0.84
RM 0.63
-25.7%
43.6%RM 1.81RM 0.45RM 0.8321
Nov ’23RM 0.80
RM 0.63
-21.0%
43.3%RM 1.81RM 0.45RM 0.7021
Oct ’23RM 0.63
RM 0.63
+1.1%
43.3%RM 1.81RM 0.45RM 0.7821
Sep ’23RM 0.80
RM 0.94
+17.0%
32.3%RM 2.00RM 0.45RM 0.7420
Aug ’23RM 0.99
RM 0.95
-4.4%
30.6%RM 2.00RM 0.50RM 0.9420
Jul ’23RM 1.01
RM 1.08
+6.5%
26.2%RM 2.00RM 0.65RM 0.8121

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


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