Bausen Inc. AI Stock Analysis
Bausen Inc. (2948) AI Stock Analysis
Bausen Inc.
(TPEx:2948)
The score reflects a company with weakening fundamentals that is partly offset by an attractive income profile. Margin compression across every line of the income statement, a sharp fall in return on equity to 6.4%, and a debt load that has quadrupled since 2020 to roughly match shareholders' equity are the dominant risks. Technical signals add little support, with the price trading below all key moving averages and MACD negative. The counterweights are a strong 2025 free cash flow recovery of NT$173M that more than covered earnings, a reasonable 16.5x P/E, and a 5.45% dividend yield. Overall, this is a modestly below-average profile where valuation and yield compensate only partially for deteriorating profitability and rising leverage.
Bausen Inc. (2948) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- TWD 1.15B
- Dividend Yield
- 5.61%
- Average Volume (3M)
- 5,014
- Price to Earnings (P/E)
- 16.8
- Beta (1Y)
- 0.18
- Revenue Growth
- -0.34%
- EPS Growth
- 13.84%
- Country
- TW
- Employees
- 69
- Sector
- General
- Sector Strength
- 55
- Industry
- Home Improvement
Bausen Inc. Business Overview & Revenue Model
Company Description
Bausen Inc. specializes in the wholesale and retail distribution of wooden furniture, various flooring types, and interior decorative building materials, serving markets both within Taiwan and globally. The company offers a range of flooring products...
Bausen Inc. Financial Statement Overview
Summary
Bausen remains profitable but the trend is deteriorating. Revenue has plateaued near NT$2.1B, below the 2022 peak, while gross margin dropped to 35.7% from 41.8% and net margin thinned to just 3.1%. Leverage is the bigger concern: total debt has quadrupled since 2020 to NT$1.02B, roughly matching equity (D/E 0.98), and return on equity has collapsed from nearly 30% to 6.4%. The standout positive is the 2025 cash flow turnaround — operating cash flow of NT$176M and free cash flow of NT$173M, comfortably exceeding net income — though two negative operating cash flow years out of six mean this must be repeated to be considered durable.
Income Statement
44NeutralBalance Sheet
46NeutralCash Flow
52Neutral| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.16B | 2.14B | 2.10B | 2.19B | 2.27B | 2.00B |
| Gross Profit | 849.27M | 763.78M | 879.50M | 901.60M | 754.54M | 683.96M |
| EBITDA | 266.40M | 277.52M | 295.48M | 313.23M | 301.69M | 273.14M |
| Net Income | 66.99M | 66.43M | 65.59M | 106.59M | 146.69M | 154.30M |
Balance Sheet | ||||||
| Total Assets | 2.40B | 2.38B | 2.33B | 2.25B | 1.65B | 1.19B |
| Cash, Cash Equivalents and Short-Term Investments | 200.28M | 177.26M | 206.25M | 392.65M | 225.65M | 119.41M |
| Total Debt | 964.63M | 1.02B | 961.72M | 945.83M | 571.11M | 378.03M |
| Total Liabilities | 1.38B | 1.35B | 1.27B | 1.24B | 912.47M | 672.41M |
| Stockholders Equity | 1.02B | 1.04B | 1.06B | 1.01B | 735.59M | 518.71M |
Cash Flow | ||||||
| Free Cash Flow | 55.98M | 173.29M | -149.55M | 64.46M | 11.21M | -43.52M |
| Operating Cash Flow | 58.82M | 175.78M | -139.34M | 83.89M | 24.15M | -29.01M |
| Investing Cash Flow | -29.37M | 2.27M | -32.21M | -38.74M | -50.66M | -56.97M |
| Financing Cash Flow | -144.92M | -164.25M | -113.21M | 112.05M | 66.77M | 93.18M |
Bausen Inc. Peers Comparison
Overall Rating
TW:458461Neutral- TW:294852Neutral
TW:330845Neutral
TW:223040Underperform
TW:668040Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| TW:4584 | 61Neutral | TWD 1.07B | 20.93 | ― | 5.59% | -16.79% | -50.73% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| TW:2948 | 52Neutral | TWD 1.10B | 16.80 | ― | 5.61% | -0.34% | 13.84% |
| TW:3308 | 45Neutral | TWD 1.16B | 12.62 | ― | ― | 31.63% | 274.35% |
| TW:2230 | 40Underperform | TWD 1.29B | -8.86 | ― | 3.20% | -4.47% | -514.66% |
| TW:6680 | 40Underperform | TWD 1.23B | 52.20 | ― | 6.02% | 11.10% | -7.06% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| TW:2948 | Bausen Inc. | 34.40 | -0.58 | -1.64% | |
| TW:2230 | C.T.I. Traffic Industries Co., Ltd. | 19.00 | -81.55 | -81.10% | |
| TW:3308 | Bestec Power Electronics Co., Ltd | 19.40 | 3.70 | 23.57% | |
| TW:4584 | Jufan Industrial Co., Ltd. | 35.80 | -12.63 | -26.08% | |
| TW:6638 | Goldtek Technology Co., Ltd. | 41.00 | 11.00 | 36.67% | |
| TW:6680 | SINTRONES Technology Corp. | 49.20 | -21.68 | -30.58% |
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