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Top Glove Corporation Bhd
SGX:BVA

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Top Glove Corporation Bhd
SGX:BVA
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Price: 0.225 SGD -4.26%
Market Cap: S$1.8B

EV/EBITDA

14
Current
10%
More Expensive
vs 3-y average of 12.7

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
14
=
Enterprise Value
S$4.6B
/
EBITDA
423.1m

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
14
=
Enterprise Value
S$4.6B
/
EBITDA
423.1m

Valuation Scenarios

Top Glove Corporation Bhd is trading above its 3-year average

If EV/EBITDA returns to its 3-Year Average (12.7), the stock would be worth S$0.21 (9% downside from current price).

Statistics
Positive Scenarios
0/4
Maximum Downside
-61%
Maximum Upside
No Upside Scenarios
Average Downside
25%
Scenario EV/EBITDA Value Implied Price Upside/Downside
Current Multiple 14 S$0.23
0%
3-Year Average 12.7 S$0.21
-9%
5-Year Average 5.5 S$0.09
-61%
Industry Average 12.4 S$0.2
-11%
Country Average 11.3 S$0.18
-19%

Forward EV/EBITDA
Today’s price vs future ebitda

Today's Enterprise Value EBITDA Forward EV/EBITDA
S$4.6B
/
Mar 2026
423.1m
=
14
Current
S$4.6B
/
Aug 2026
527.5m
=
8.8
Forward
S$4.6B
/
Aug 2027
600.7m
=
7.7
Forward
S$4.6B
/
Aug 2028
675.5m
=
6.8
Forward

Forward EV/EBITDA shows whether today’s EV/EBITDA still looks high or low once future ebitda are taken into account.

Peer Comparison

All Multiples
EV/EBITDA
P/E
All Countries
Close
Market Cap EV/EBITDA P/E
MY
Top Glove Corporation Bhd
SGX:BVA
5.7B SGD 14 41.3
US
Medline Inc
NASDAQ:MDLN
62.4B USD 0 0
JP
Hoya Corp
TSE:7741
9.8T JPY 28.4 39.1
CH
Alcon AG
SIX:ALC
30.1B CHF 14.5 37.7
DK
Coloplast A/S
CSE:COLO B
96.5B DKK 12.9 24.3
US
Align Technology Inc
NASDAQ:ALGN
13.9B USD 14.8 34
UK
ConvaTec Group PLC
LSE:CTEC
4.5B GBP 11.9 34.2
CA
Bausch + Lomb Corp
NYSE:BLCO
5.7B USD 16.9 -15.7
KR
HLB Inc
KOSDAQ:028300
8.3T KRW -83.8 -37.5
JP
Asahi Intecc Co Ltd
TSE:7747
895.2B JPY 23.2 49.1
US
Lantheus Holdings Inc
NASDAQ:LNTH
5.3B USD 14.5 22.6
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
MY
T
Top Glove Corporation Bhd
SGX:BVA
Average EV/EBITDA: 16.8
14
24%
0.6
US
M
Medline Inc
NASDAQ:MDLN
Not Available
9%
N/A
JP
Hoya Corp
TSE:7741
28.4
13%
2.2
CH
Alcon AG
SIX:ALC
14.5
9%
1.6
DK
Coloplast A/S
CSE:COLO B
12.9
6%
2.1
US
Align Technology Inc
NASDAQ:ALGN
14.8
14%
1.1
UK
ConvaTec Group PLC
LSE:CTEC
11.9
11%
1.1
CA
Bausch + Lomb Corp
NYSE:BLCO
16.9
29%
0.6
KR
H
HLB Inc
KOSDAQ:028300
Negative Multiple: -83.8 N/A N/A
JP
A
Asahi Intecc Co Ltd
TSE:7747
23.2
13%
1.8
US
Lantheus Holdings Inc
NASDAQ:LNTH
14.5
23%
0.6
P/E Multiple
Earnings Growth PEG
MY
T
Top Glove Corporation Bhd
SGX:BVA
Average P/E: 35.3
41.3
37%
1.1
US
M
Medline Inc
NASDAQ:MDLN
Not Available
30%
N/A
JP
Hoya Corp
TSE:7741
39.1
15%
2.6
CH
Alcon AG
SIX:ALC
37.7
32%
1.2
DK
Coloplast A/S
CSE:COLO B
24.3
21%
1.2
US
Align Technology Inc
NASDAQ:ALGN
34
34%
1
UK
ConvaTec Group PLC
LSE:CTEC
34.2
41%
0.8
CA
Bausch + Lomb Corp
NYSE:BLCO
Negative Multiple: -15.7 N/A N/A
KR
H
HLB Inc
KOSDAQ:028300
Negative Multiple: -37.5 N/A N/A
JP
A
Asahi Intecc Co Ltd
TSE:7747
49.1
40%
1.2
US
Lantheus Holdings Inc
NASDAQ:LNTH
22.6
30%
0.8

Market Distribution

Lower than 83% of companies in Malaysia
Percentile
17th
Based on 431 companies
17th percentile
4.3
Low
0.5 — 7.2
Typical Range
7.2 — 16.9
High
16.9 —
Distribution Statistics
Malaysia
Min 0.5
30th Percentile 7.2
Median 11.3
70th Percentile 16.9
Max 56 436.5

Top Glove Corporation Bhd
Glance View

Nestled in the bustling industrial landscape of Malaysia, Top Glove Corporation Bhd has emerged as a pivotal player in the global healthcare supply chain. Founded in 1991 by Tan Sri Dr. Lim Wee Chai, what began as a modest enterprise with a singular production line has transformed into the world's largest manufacturer of gloves. The company’s remarkable journey is powered by its commitment to innovation, stringent quality control, and a relentless drive to expand its production capacity. With operations spanning several countries, Top Glove’s manufacturing capabilities cater to a variety of glove types, including latex, nitrile, and vinyl, addressing the diverse needs of healthcare professionals across the globe. Top Glove operates on a high-volume, low-margin business model, allowing it to thrive in an industry that demands both reliability and cost-effectiveness. The company generates revenue by selling its products to an extensive network of distributors, healthcare institutions, and retailers worldwide. Its strategic approach to cost management and supply chain efficiency enables Top Glove to maintain competitive pricing while ensuring significant profit margins. By continuously investing in technology upgrades and expanding its production facilities, Top Glove ensures it remains at the forefront of the glove manufacturing sector, adeptly navigating the vicissitudes of global health trends and economic cycles.

BVA Intrinsic Value
0.229 SGD
Undervaluation 2%
Intrinsic Value
Price S$0.225
T
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