Top Glove Corporation Bhd.

SGX:BVA Stock Report

Market Cap: S$3.2b

Top Glove Corporation Bhd Valuation

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

Below Fair Value: BVA (SGD0.42) is trading above our estimate of fair value (SGD0.42)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for BVA. This is calculated by dividing BVA's market cap by their current revenue.
What is BVA's PS Ratio?
PS Ratio4.4x
SalesRM 2.52b
Market CapRM 10.50b

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for BVA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average3.3x
AP4 Riverstone Holdings
5.1x14.0%S$1.6b
546 Medtecs International
1.1xn/aS$76.3m
8K7 UG Healthcare
0.6xn/aS$74.9m
HARTA Hartalega Holdings Berhad
6.3x19.5%RM 13.8b
BVA Top Glove Corporation Bhd
4.4x24.0%S$11.1b

Price-To-Sales vs Peers: BVA is expensive based on its Price-To-Sales Ratio (4.4x) compared to the peer average (3.3x).

Price to Sales Ratio vs Industry

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

32 CompaniesPrice / SalesEstimated GrowthMarket Cap
BVA 4.4xIndustry Avg. 3.4xNo. of Companies43PS02.85.68.411.214+
32 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: BVA is expensive based on its Price-To-Sales Ratio (4.4x) compared to the Asian Medical Equipment industry average (3.4x).

Price to Sales Ratio vs Fair Ratio

What is BVA'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.

BVA PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio4.4x
Fair PS Ratio2.1x

Price-To-Sales vs Fair Ratio: BVA is expensive based on its Price-To-Sales Ratio (4.4x) 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 BVA forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentS$0.42
S$0.33
-20.4%
19.3%S$0.46S$0.22n/a19
Dec ’25S$0.34
S$0.33
-5.3%
16.6%S$0.42S$0.21n/a19
Nov ’25S$0.33
S$0.33
+0.3%
16.6%S$0.42S$0.21n/a19
Oct ’25S$0.33
S$0.33
+1.8%
18.6%S$0.45S$0.22n/a19
Sep ’25S$0.28
S$0.31
+12.7%
20.7%S$0.43S$0.21n/a19
Aug ’25S$0.30
S$0.29
-2.0%
21.9%S$0.42S$0.18n/a20
Jul ’25S$0.32
S$0.29
-9.4%
20.9%S$0.41S$0.18n/a20
Jun ’25S$0.29
S$0.25
-16.5%
23.0%S$0.35S$0.14n/a20
May ’25S$0.25
S$0.23
-8.6%
18.3%S$0.31S$0.14n/a20
Apr ’25S$0.23
S$0.23
+1.6%
18.3%S$0.31S$0.14n/a20
Mar ’25S$0.23
S$0.22
-0.5%
19.0%S$0.31S$0.14n/a20
Feb ’25S$0.26
S$0.22
-15.6%
17.4%S$0.28S$0.14n/a20
Jan ’25S$0.26
S$0.22
-14.2%
17.4%S$0.29S$0.14n/a20
Dec ’24S$0.23
S$0.20
-13.8%
19.0%S$0.29S$0.14S$0.3419
Nov ’24S$0.20
S$0.20
-0.9%
19.0%S$0.29S$0.14S$0.3319
Oct ’24S$0.23
S$0.22
-2.8%
27.3%S$0.39S$0.13S$0.3320
Sep ’24S$0.23
S$0.22
-7.5%
27.3%S$0.39S$0.13S$0.2821
Aug ’24S$0.27
S$0.22
-20.0%
27.3%S$0.39S$0.13S$0.3021
Jul ’24S$0.23
S$0.22
-8.1%
27.3%S$0.39S$0.13S$0.3221
Jun ’24S$0.34
S$0.21
-37.6%
31.4%S$0.40S$0.13S$0.2921
May ’24S$0.29
S$0.21
-29.6%
27.1%S$0.32S$0.14S$0.2521
Apr ’24S$0.28
S$0.21
-27.4%
26.7%S$0.32S$0.14S$0.2321
Mar ’24S$0.22
S$0.17
-20.5%
26.8%S$0.32S$0.099S$0.2321
Feb ’24S$0.26
S$0.19
-28.2%
48.1%S$0.56S$0.099S$0.2621
Jan ’24S$0.27
S$0.18
-32.1%
48.2%S$0.55S$0.097S$0.2621
Dec ’23S$0.26
S$0.19
-25.8%
43.6%S$0.56S$0.14S$0.2321

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 Analysis2024/12/18 14:12
End of Day Share Price 2024/12/18 00:00
Earnings2024/08/31
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 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

Top Glove Corporation Bhd. is covered by 38 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