Skip to main content

Go Premium in Our Biggest Sale Ever

UPGRADE NOW
TipRanks
Go Ultimate75% OFF

Bedding World Co., Ltd. (2938) AI Stock Analysis

TW:2938

Bedding World Co., Ltd.

(TPEx:2938)

Select Model
Rating:47Neutral
Price Target:TWD 17.00â–¼(-2.86% Downside)
Action:initiatedcoverage
Date:11/09/26

Weak financial performance from falling revenue and margins is the dominant factor, reinforced by bearish technical indicators; attractive valuation provides only modest support.

Positive Factors
Healthy Gross MarginA gross margin of about 52.5% indicates the company retains meaningful product-level economics despite weaker overall profitability. This provides a foundation for recovery if operating costs stabilize, while supporting continued investment in branded retail channels and sleep-related product offerings.
Negative Factors
Revenue and Margin ContractionFalling revenue combined with sharp net and EBIT margin compression points to a broad deterioration in earnings power rather than a narrowly isolated issue. If sustained, this can reduce reinvestment capacity, weaken operating leverage, and make future results more volatile.

Bedding World Co., Ltd. (2938) vs. SPDR S&P 500 ETF (SPY)

-30%-20%-10%0%10%20%TW:2938-28.20%SPY+14.30%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
TWD 390.56M
Dividend Yield
3.53%
Average Volume (3M)
62.35K
Price to Earnings (P/E)
11.9
Beta (1Y)
0.07
Revenue Growth
―
EPS Growth
―
Country
TW
Employees
1,178
Sector
General
Sector Strength
55
Industry
Furnishings, Fixtures & Appliances

Bedding World Co., Ltd. Business Overview & Revenue Model

Company Description

Bedding World Co., Ltd. operates as a mattress and bedding distributor under the Bed World brand in Taiwan. The company offers its products through department stores, online platforms, and e-commerce platforms. Bedding World Co., Ltd. was founded in...

Bedding World Co., Ltd. Financial Statement Overview

Summary

Revenue declines, severe margin compression, and sharply lower cash flows signal major operational stress, partially offset by reduced leverage on the balance sheet.

Income Statement

28Negative

Balance Sheet

62Positive

Cash Flow

42Neutral
Financial statement breakdown
BreakdownTTMMar 2026Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue734.55M725.29M840.56M851.19M890.60M837.77M
Gross Profit506.69M380.90M578.13M572.73M583.41M535.59M
EBITDA148.04M176.48M247.62M234.81M267.60M255.91M
Net Income29.11M23.86M85.38M75.47M117.25M114.81M
Balance Sheet
Total Assets1.56B1.60B1.66B1.65B1.70B1.65B
Cash, Cash Equivalents and Short-Term Investments424.24M391.79M457.09M399.14M441.70M379.41M
Total Debt713.20M783.10M795.89M852.44M878.28M889.48M
Total Liabilities874.64M914.78M956.01M992.99M1.05B1.05B
Stockholders Equity686.21M683.27M701.59M661.52M646.47M599.30M
Cash Flow
Free Cash Flow153.37M97.00M217.57M172.38M218.32M234.77M
Operating Cash Flow180.19M121.37M243.97M189.32M247.11M253.12M
Investing Cash Flow-13.63M33.79M-74.07M-27.96M-29.48M-17.28M
Financing Cash Flow-120.77M-170.46M-159.95M-205.92M-155.34M-137.34M

Bedding World Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

TW:2938 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%
TW:4413TW:441355NeutralTWD 584.02M14.57―1.67%44.06%―
TW:2938TW:293847NeutralTWD 397.42M11.88―3.53%――
TW:2911TW:291141NeutralTWD 556.12M1.35――-23.53%―
TW:1441TW:144138UnderperformTWD 542.12M-4.37――-23.44%-226.14%
TW:4406TW:440632UnderperformTWD 519.12M-12.99――-41.59%33.73%

* General Sector Average

Performance Comparison

0%50%TW:2938TW:1441TW:2911TW:2940TW:4406TW:4413Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
TW:2938 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TW:2938Bedding World Co., Ltd.17.50-7.41-29.74%
TW:1441Tah Tong Textile Co., Ltd.8.70-3.84-30.64%
TW:2911Les Enphants Co. Ltd.5.390.5010.22%
TW:2940Sun Own Industrial Co., Ltd.23.95-0.24-1.00%
TW:4406Hsin Sin Textile Co., Ltd.10.000.191.94%
TW:4413EST GLOBAL APPAREL Co., Ltd.18.00-0.91-4.82%
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