Top Glove Corporation Bhd (TGLVY) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Top Glove Corporation Bhd $0.39, price $0.58, upside -32.5%, quality 51 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range $0.4598 – $8.00 · fair‑value band $0.2600 – $0.3900 · the $0.5780 price screens above the $0.3900 fair value. Dashed = 300-day average. As of Sep 24, 2026.
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Top Glove Corporation Bhd., an investment holding company, engages in the manufacture, trade, and sale of gloves in Malaysia, Thailand, the People's Republic of China, and internationally.
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Top Glove Corporation Bhd., an investment holding company, engages in the manufacture, trade, and sale of gloves in Malaysia, Thailand, the People's Republic of China, and internationally. It offers nitrile, latex, surgical, rubber, examination, medical, and vinyl gloves; concentrate and synthetic latex, formers, chemicals and chemical compounds, rubber dental dams, exercise bands, condoms, and rubber related products; packaging materials, boxes, and cartons; and disposable and medical face masks, engineering parts and rubber glove machinery, functional fillers, healthcare products, and home care and personal care products. The company also provides property investment and consultancy services, and electrical engineering works; clinical and specialist medical services; analytical, medical related consultancy, emergency medical, advisory, accommodation, management and trading, and value added services; financial and treasury services; management services in plantation sector; processing of plantation produce; and industrial forest plantation services, as well as forestry and industry services. In addition, it trades in healthcare related products; distributes medical devices and products; operates as a special purpose vehicle solely for issuance of Perpetual Sukuk; organizes in-house trainings and public trainings/programs; and establishes and maintains fitness related business, including healthcare, slimming centers, gymnasiums, and other related activities. Further, it generates and supplies energy and electricity using biomass technology; and offers e-commerce services for glove trading and other healthcare products. Additionally, the company provides gamma irradiation services for sterilization of gloves and medical devices; acts as an agent in the sale of various goods; wholesales pharmaceutical goods; and buys and sells real estate. Top Glove Corporation Bhd. was founded in 1991 and is headquartered in Shah Alam, Malaysia.
Stock analysis
Top Glove Corporation Bhd ADR (TGLVY) currently trades at $0.5780, while our model-based Fair Value estimate is $0.3900, 32.5% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Asset-Based group reads highest at a median of $0.3900 per share, and 3 of the 26 models we run sit above the $0.5780 price.
Bear case: the Dividend Discount group reads lowest at $0.0400, and 23 of the 26 models stay below the price. Evidence for this calculation is low.
Scenario range: $0.2600 (bear) to $0.3900 (bull), the price of $0.5780 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 51/100 (solid quality), in the Healthcare sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Top Glove Corporation Bhd ADR reported revenue of 3.5B MYR in FY2025 versus 16.4B MYR in FY2021, a compound −32.0%/yr. Reported net income was 132M MYR in FY2025, compounding −63.9%/yr from FY2021.
Key figures
Market cap $1.4B · P/E ratio 28.9 · P/S ratio 1.09 · EPS (TTM) $0.0200 · Dividend yield 0.9% · Net margin 3.8% · Return on equity 3.8% · Return on assets (EBIT) 19.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (medium confidence).
What moves the price
The share trades about 33% below its 52-week high and 24% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −37% fair-value upside, at −33%, TGLVY screens cheaper than that median.
Fair Value models
Bear $0.2600Fair Value $0.3900Bull $0.3900
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then ($0.0150 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+38.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−14.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−13.6%
Start year 2020 (pandemic). Over 10 years: +3.3% a year
Revenue growth 20 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+8.8%
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What shareholders gained per year (last 5 years), in MYR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in MYR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−41.8%
Earnings growth per share plus dividend.
Earnings per share, growth per year−42.7%
Dividend (yield on the price)0.9%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−42.7% vs −9.6%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.30% → 3%
Start year 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+20.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+11.9%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in MYR, Malaysia: IMF forecast 2.0% a year to 2030, 1.8% from 2016 to 2025) that is about +18.4% a year for the price and +9.8% for the forecasts.
Compare Top Glove Corporation Bhd ADR with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Medical Instruments & Supplies · 191 stocks
Beats the industry median on 6/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score51 · Below median
Fair Value upside−57.9% · Bottom 25%
Profitability
Return on equity (TTM)3.8% · Below median
Return on assets1.4% · Below median
Net margin (TTM)4.8% · Below median
Operating margin (TTM)13.7% · Above median
Growth and dividend
Revenue growth31.9% · Top 25%
Dividend yield (TTM)0.9% · Below median
Valuation Multiplesvs Medical Instruments & Supplies median · lower = cheaper
P/E (TTM)28.9× · Pricier than median
P/B1.21× · Cheapest 25%
P/S (TTM)1.48× · Cheaper than median
P/FCF36.7× · Priciest 25%
EV/EBITDA12.2× · Cheaper than median
PEG0.08× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 25
FUTURE (revenue growth)100· sector 36
PAST (return on equity)15· sector 27
HEALTH (low debt)100· sector 96
DIVIDEND (yield)17· sector 32
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Top Glove Corporation Bhd ADR Fair Value". https://www.fairvalue-calculator.com/stock/TGLVY
Frequently asked questions
Is Top Glove Corporation Bhd (TGLVY) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $0.3900 versus a price of $0.5780, about −33% upside (overvalued).
What is the fair value of TGLVY?
Our model-based fair value for Top Glove Corporation Bhd ADR is $0.3900 (as of Sep 24, 2026), built from audited fundamentals. The current price: $0.5780.
What is the quality score of TGLVY?
Top Glove Corporation Bhd ADR has a Quality Score of 51/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Top Glove Corporation Bhd (TGLVY)?
Our model-based price target is the fair value of $0.3900 (as of Sep 24, 2026) from 26 valuation models. Cautious scenario $0.2600, optimistic scenario $0.3900. It is a calculation from audited fundamentals, not an analyst target.
What is the Top Glove Corporation Bhd ADR stock forecast for 2026?
Our models put fair value at $0.3900, about −33% upside versus a price of $0.5780 (overvalued). Cautious scenario $0.2600, optimistic scenario $0.3900. The calculation is refreshed regularly with new filings.
What is the revenue of Top Glove Corporation Bhd (TGLVY)?
Top Glove Corporation Bhd ADR reported trailing-twelve-month revenue of about 3.9B MYR (latest available figure, as of Sep 24, 2026).
Does Top Glove Corporation Bhd ADR pay a dividend?
Top Glove Corporation Bhd ADR currently shows a dividend yield of about 0.87% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Top Glove Corporation Bhd (TGLVY)?
For today's price to be fair in a discounted-cash-flow model, Top Glove Corporation Bhd ADR would have to grow free cash flow by +20.7 % per year for five years (discount rate 9.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -13.6 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of TGLVY use?
Our models discount Top Glove Corporation Bhd ADR at 9.8 %: a base by market capitalisation (small), damped by beta 0.45, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Top Glove Corporation Bhd ADR that is +20.7 % per year a year over ten years, using the same discount rate (9.8 %) and the same formula as our fair value.
How much growth has Top Glove Corporation Bhd (TGLVY) delivered so far?
Over the past 5 years revenue at Top Glove Corporation Bhd ADR grew -13.6 % a year. The price currently implies +20.7 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Top Glove Corporation Bhd (TGLVY) growing?
The median revenue growth in the sector is +5.1 % a year. That is the yardstick for the growth priced into Top Glove Corporation Bhd ADR (+20.7 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Top Glove Corporation Bhd (TGLVY)?
The free-cash-flow yield on the price is 2.72 %: that much free cash flow Top Glove Corporation Bhd ADR produces per unit of market value. When it exceeds the discount rate of our models (9.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Top Glove Corporation Bhd (TGLVY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Top Glove Corporation Bhd ADR it is $0.3900 per share (as of Sep 24, 2026), against a price of $0.5780. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Top Glove Corporation Bhd ADR stock overvalued or undervalued in 2026?
As of Sep 24, 2026, TGLVY trades above its calculated fair value: price $0.5780, fair value $0.3900, a gap of about −33% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of TGLVY?
No. The price is what the market pays today ($0.5780); the fair value is what the company's own numbers justify ($0.3900). For Top Glove Corporation Bhd ADR the two are $0.1880 per share apart. That gap is exactly why we show both numbers side by side.
How much is Top Glove Corporation Bhd ADR worth?
The market values Top Glove Corporation Bhd ADR at about $1.4B (market capitalisation, as of Sep 24, 2026). Per share that is $0.5780; our models calculate a fair value of $0.3900 per share.
What do the bullish and bearish scenarios say about TGLVY?
Our models span a range for Top Glove Corporation Bhd ADR: cautious scenario $0.2600, base $0.3900, optimistic $0.3900 per share (as of Sep 24, 2026, price $0.5780). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TGLVY?
Top Glove Corporation Bhd ADR trades at a price-to-earnings ratio of 28.9 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $0.3900 is built from several models across several years. Other multiples: PEG 0.1, P/B 1.2, P/S 1.5, EV/EBITDA 12.2.
What is the PEG ratio of TGLVY?
The PEG ratio of Top Glove Corporation Bhd ADR is 0.08 (P/E divided by earnings growth, as of Sep 24, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Top Glove Corporation Bhd (TGLVY)?
Balance-sheet figures for Top Glove Corporation Bhd ADR (as of Sep 24, 2026): return on equity 3.8%. They feed the Quality Score of 51/100, which measures business quality independently of the share price.
How far is TGLVY from its 52-week high?
Top Glove Corporation Bhd ADR trades at $0.5780, about 33% below its 52-week high of $0.8611 and 24% above the low of $0.4675 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of $0.3900 is for.
Which stocks are comparable to Top Glove Corporation Bhd ADR?
From the same area (Healthcare) we also value Intuitive Surgical, Inc, EssilorLuxottica Société anonyme, Becton, Dickinson and Company, Medline Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Top Glove Corporation Bhd ADR stock attractive at the current price?
The data as of Sep 24, 2026: price $0.5780, calculated fair value $0.3900 (−33%), Quality Score 51/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of TGLVY calculated?
We run Top Glove Corporation Bhd ADR through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $0.3900, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Top Glove Corporation Bhd ADR itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Top Glove Corporation Bhd (TGLVY)?
The closing price on Oct 2, 2026 was $0.5780. Our model-based fair value is $0.3900, about −33% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Top Glove Corporation Bhd ADR right now?
The price sits above even our optimistic bull case ($0.3900). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (51/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Top Glove Corporation Bhd ADR
How large is the market capitalisation of Top Glove Corporation Bhd (TGLVY)?
The market capitalisation of Top Glove Corporation Bhd ADR is $1.4B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Top Glove Corporation Bhd (TGLVY)?
The price-to-sales ratio of Top Glove Corporation Bhd ADR is 1.09 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Top Glove Corporation Bhd (TGLVY)?
Earnings per share at Top Glove Corporation Bhd ADR are $0.0200 (price ÷ EPS = P/E 28.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Top Glove Corporation Bhd (TGLVY)?
The dividend yield of Top Glove Corporation Bhd ADR is 0.9% (payout 25.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Top Glove Corporation Bhd (TGLVY)?
The net margin of Top Glove Corporation Bhd ADR is 3.8% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Top Glove Corporation Bhd (TGLVY)?
The return on equity (ROE) of Top Glove Corporation Bhd ADR is 3.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Top Glove Corporation Bhd (TGLVY)?
On an EBIT basis the return on assets of Top Glove Corporation Bhd ADR is 19.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Top Glove Corporation Bhd (TGLVY)?
The operating margin of Top Glove Corporation Bhd ADR is 13.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Top Glove Corporation Bhd (TGLVY)?
Revenue at Top Glove Corporation Bhd ADR is growing +31.9% versus a year earlier (3y avg −14.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Top Glove Corporation Bhd (TGLVY)?
Earnings per share at Top Glove Corporation Bhd ADR are growing +135% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Top Glove Corporation Bhd (TGLVY) carry?
The net debt of Top Glove Corporation Bhd ADR is 551M MYR (fiscal year 2025, ≈ 3.5 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Thin data
Sep 24, 2026