Top Glove Corporation Bhd — Cyborg Score 4/10

Mixed
Healthcare Equipment & Supplies / Medical Glove Manufacturing

Strategic Profile

The company is headquartered in Malaysia with manufacturing facilities in Malaysia, Thailand and the PRC, with approximately 51 factories, out of which 45 are in Malaysia, five in Thailand, and one in Vietnam. The overall consensus recommendation for Top Glove is Hold, with the stock trading significantly below analyst valuation targets as of early 2026.

Cyborg Score Rationale

The stock has declined 51.81% over the past 365 days and underperformed the FTSE Developed Asia Pacific Index by -64.88% over the past year. While the company maintains market leadership in a global industry, investor sentiment remains cautious with analyst consensus at 'Hold' despite significant upside potential in pricing targets.

Top Insights

  • Current share price represents 234.7% upside potential to consensus target
  • Operates 51 manufacturing facilities globally with significant Malaysia-based concentration
  • Dividend yield of 0.76%
  • Recent warrant conversion and bonus warrant issue indicate capital structure optimization activities

Named Competitors

  • Examination Gloves — Malaysian glove manufacturers competing in medical and examination glove segments
  • Nitrile Glove Production — Various regional manufacturers competing on cost and capacity in Asia

Recent Developments

  • (December 2025) Released FY2025 audited financial statements for year ended August 31, 2025
  • (January 2026) Warrant conversion completed; share price target of RM 0.666 represents 234.7% upside
  • (2025) Bonus warrant issue announcement of approximately 405.8 million warrants to shareholders

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