Ansell Limited vs Top Glove Corporation Bhd
Ansell holds the stronger position, facing lighter direct competitive pressure than Top Glove as price wars squeeze commodity glove makers, assessed July 2026.
Ansell Limited
Ansell makes surgical, industrial, and cleanroom gloves and PPE sold worldwide under regulatory clearances
Top Glove Corporation Bhd
World's largest disposable rubber glove maker, based in Malaysia
Dimension by dimension
| Dimension | Ansell Limited | Top Glove Corporation Bhd |
|---|---|---|
| Staying power of the core product | Rated hard to displace, with a broad range of specialty safety gear beyond basic gloves | Rated losing its protection, tied closely to commodity disposable gloves |
| Exposure to AI | Unlikely to be absorbed by AI since it makes physical protective gear | Unlikely to be absorbed by AI for the same physical-product reason |
| How easily a giant copies them | Possible for a large rival to replicate parts of its product line | Possible for a large rival to replicate its manufacturing model |
| Pressure from rivals | Faces competition mainly from Malaysian glove makers on commodity lines, while its specialty gear faces less direct overlap | Faces heavier direct pressure from Chinese undercutting and Malaysian tariff costs across its core commodity glove business |
| Protection from competition (moat) | Protected in part by its broad specialty product range beyond basic gloves | More exposed to competition given its heavy reliance on commodity gloves |
| Recent growth momentum | H1 FY26 revenue grew just 0.7% to US$1,026.6m | FY2025 revenue grew 39% to RM3.49 billion, with 9MFY2026 net profit up 64% |
| Financial footing | FY25 revenue of US$2,003.3m with adjusted EPS of 126.1 US cents, showing steady profitability | FY2025 net profit of only RM109.07 million despite the large revenue jump, a much thinner margin |
Questions people ask
- Is Top Glove or Ansell growing faster right now?
- Top Glove is growing faster in percentage terms, with FY2025 revenue up 39% and 9MFY2026 net profit up 64% year over year. Ansell's growth is much slower, with H1 FY26 revenue up only 0.7%, though its overall revenue base is larger.
- Is Ansell or Top Glove in better financial shape?
- Ansell looks steadier, with FY25 revenue of US$2,003.3 million and adjusted EPS of 126.1 US cents. Top Glove's FY2025 revenue jumped 39% to RM3.49 billion, but net profit was only RM109.07 million, a thin margin, though profit growth of 64% in the following nine months shows some improvement.