Top Glove Corporation Bhd.

KLSE:TOPGLOV Stock Report

Market Cap: RM 9.8b

Top Glove Corporation Bhd Valuation

Is TOPGLOV 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-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.

Discounted Cash Flow
Simply Wall St
RM 0.84
Fair Value
45.8% overvalued intrinsic discount
18
Number of Analysts

Below Fair Value: TOPGLOV (MYR1.22) is trading above our estimate of fair value (MYR0.84)

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


Key Valuation Metric

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

Key metric: As TOPGLOV is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for TOPGLOV. This is calculated by dividing TOPGLOV's market cap by their current revenue.
What is TOPGLOV's PS Ratio?
PS Ratio3.4x
SalesRM 2.91b
Market CapRM 9.78b

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 Average3.6x
HARTA Hartalega Holdings Berhad
5.6x20.0%RM 12.2b
KOSSAN Kossan Rubber Industries Bhd
3.5x17.3%RM 6.2b
SUPERMX Supermax Corporation Berhad
4.4x25.2%RM 3.1b
COMFORT Comfort Gloves Berhad
0.8xn/aRM 243.2m
TOPGLOV Top Glove Corporation Bhd
3.4x20.3%RM 9.8b

Price-To-Sales vs Peers: TOPGLOV is good value based on its Price-To-Sales Ratio (3.4x) compared to the peer average (3.6x).


Price to Sales Ratio vs Industry

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

34 CompaniesPrice / SalesEstimated GrowthMarket Cap
TOPGLOV 3.4xIndustry Avg. 3.4xNo. of Companies48PS02.85.68.411.214+
34 CompaniesEstimated GrowthMarket Cap
No more companies

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


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 Ratio3.4x
Fair PS Ratio2.2x

Price-To-Sales vs Fair Ratio: TOPGLOV is expensive based on its Price-To-Sales Ratio (3.4x) compared to the estimated Fair Price-To-Sales Ratio (2.2x).


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 1.22
RM 1.22
-0.4%
15.0%RM 1.50RM 0.80n/a18
Feb ’26RM 1.20
RM 1.22
+1.3%
15.0%RM 1.50RM 0.80n/a18
Jan ’26RM 1.34
RM 1.17
-13.1%
19.8%RM 1.50RM 0.71n/a18
Dec ’25RM 1.17
RM 1.08
-7.7%
16.6%RM 1.40RM 0.71n/a19
Nov ’25RM 1.07
RM 1.08
+0.9%
16.6%RM 1.40RM 0.71n/a19
Oct ’25RM 1.04
RM 1.07
+2.8%
18.6%RM 1.45RM 0.71n/a19
Sep ’25RM 0.92
RM 1.04
+13.3%
20.7%RM 1.45RM 0.71n/a19
Aug ’25RM 1.03
RM 1.02
-1.4%
21.9%RM 1.45RM 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 0.50RM 1.2020
Jan ’25RM 0.90
RM 0.77
-14.8%
17.4%RM 1.00RM 0.50RM 1.3420
Dec ’24RM 0.83
RM 0.68
-17.6%
19.0%RM 1.00RM 0.48RM 1.1719
Nov ’24RM 0.70
RM 0.68
-2.9%
19.0%RM 1.00RM 0.48RM 1.0719
Oct ’24RM 0.78
RM 0.75
-3.2%
27.3%RM 1.35RM 0.45RM 1.0420
Sep ’24RM 0.74
RM 0.74
+0.7%
27.3%RM 1.35RM 0.45RM 0.9221
Aug ’24RM 0.94
RM 0.74
-20.8%
27.3%RM 1.35RM 0.45RM 1.0321
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
Analyst Price Target
Consensus Narrative from 18 Analysts
RM 1.22
Fair Value
0.4% overvalued intrinsic discount
18
Number of Analysts

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 Analysis2025/02/07 04:07
End of Day Share Price 2025/02/07 00:00
Earnings2024/11/30
Annual Earnings2024/08/31

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

Top Glove Corporation Bhd. is covered by 42 analysts. 18 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