World Gym Corporation (2762) AI Stock Analysis

World Gym Corporation

(TWSE:2762)

Select Model

Rating:60Neutral

Price Target:TWD 80.00▲(5.26% Upside)

Action:initiatedcoverage

Date:11/10/26

The score is primarily constrained by high financial leverage and weak technical momentum. Improving revenue, profitability, cash generation, reasonable valuation, and a high dividend yield provide meaningful support, but they do not fully offset the balance-sheet risk.

Positive Factors

Steady Revenue GrowthSustained revenue growth indicates expanding demand for the company’s fitness and wellness services rather than reliance on a single isolated period. The stronger 2025 acceleration can support operating leverage, reinvestment in locations and programs, and continued strengthening of the World Gym brand.

Negative Factors

High Balance-Sheet LeverageDebt that materially exceeds equity reduces financial flexibility in a consumer and leisure business, where demand and operating results can fluctuate. Rising debt combined with a recent decline in equity keeps balance-sheet risk elevated and may constrain investment, distributions or the ability to absorb weaker conditions.

World Gym Corporation (2762) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 8.39B
Dividend Yield: 12.57%
Average Volume (3M): 60.95K
Price to Earnings (P/E): 11.6
Beta (1Y): 0.17
Revenue Growth: 11.32%
EPS Growth: 185.92%
Country: TW
Employees: 1,500
Sector: General
Sector Strength: 55
Industry: Leisure

World Gym Corporation Business Overview & Revenue Model

Company Description

World Gym Corporation primarily operates within the health, fitness, and recreational sports industry, encompassing sauna facilities, across both Taiwan and the United States. Its activities extend to overseeing leisure sports and fitness centers and...

World Gym Corporation Financial Statement Overview

Summary

Revenue, earnings, margins, operating cash flow, and free cash flow improved, but high leverage is a major weakness. Debt reached 11.17 billion, debt-to-equity rose to 3.86, and net profitability and cash conversion remain moderate.

Income Statement

68Positive

Balance Sheet

42Neutral

Cash Flow

65Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	11.46B	10.98B	9.82B	9.43B	8.86B	7.83B
Gross Profit	2.31B	1.90B	1.59B	1.55B	1.43B	1.03B
EBITDA	2.85B	3.00B	2.94B	2.81B	2.71B	2.25B
Net Income	718.54M	409.08M	351.80M	349.53M	303.81M	31.91M
Balance Sheet
Total Assets	18.24B	18.74B	17.35B	16.88B	17.61B	17.92B
Cash, Cash Equivalents and Short-Term Investments	1.39B	1.66B	1.17B	1.06B	1.65B	1.90B
Total Debt	10.54B	11.17B	9.74B	10.29B	10.52B	10.24B
Total Liabilities	15.55B	15.84B	14.22B	14.55B	15.02B	15.02B
Stockholders Equity	2.69B	2.89B	3.13B	2.33B	2.59B	2.90B
Cash Flow
Free Cash Flow	2.49B	1.88B	1.37B	1.51B	1.45B	972.65M
Operating Cash Flow	3.50B	3.23B	2.71B	2.38B	2.49B	2.11B
Investing Cash Flow	-1.06B	-1.42B	-1.59B	-639.55M	-1.53B	-1.15B
Financing Cash Flow	-2.51B	-1.37B	-972.69M	-2.10B	-1.51B	-639.41M

World Gym Corporation Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:2762 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:1264	70Outperform	TWD 8.93B	11.02	―	6.22%	3.48%	5.90%
TW:2762	60Neutral	TWD 8.50B	11.56	―	12.57%	11.32%	185.92%
TW:6469	56Neutral	TWD 9.20B	16.59	―	5.49%	4.00%	-25.06%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:1702	43Neutral	TWD 7.65B	168.06	―	5.29%	-0.31%	-90.22%
TW:2913	41Neutral	TWD 8.02B	-59.20	―	―	-10.64%	1.99%

* General Sector Average

Performance Comparison

TW:2762 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:2762	World Gym Corporation	76.00	7.50	10.95%
TW:1264	Tehmag Foods Corp.	241.00	-32.03	-11.73%
TW:1702	Namchow Holdings Co., Ltd.	30.25	-7.23	-19.30%
TW:2913	Taiwan Tea Corporation	10.10	-4.00	-28.37%
TW:6469	Great Tree Pharmacy Co., Ltd.	57.50	-36.61	-38.90%
TW:8359	Cashbox Partyworld Co., Ltd.	54.10	-9.13	-14.43%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Nov 09, 2026

World Gym Corporation AI Stock Analysis