DURING the height of the pandemic a few years ago, in a column entitled “Valuation is an Art” published on March 13, 2021, the valuation method deployed by analysts came under the radar due to the once-in-a-lifetime rally that was seen among Malaysian glove manufacturers.

Back then, analysts used two distinct methods in valuing them, and they were the discounted cash flow method as well as the traditional price-to-earnings ratio (PER) method.