Bausen Inc. (2948) AI Stock Analysis

Bausen Inc.

(TPEx:2948)

Select Model

Rating:54Neutral

Price Target:TWD 36.00▲(0.14% Upside)

Action:initiatedcoverage

Date:11/10/26

The overall score of 54 reflects a company under pressure. The most significant factor is the deteriorating financial performance, with shrinking revenues and margins creating a weak fundamental backdrop. This is compounded by a bearish technical trend, with the stock trading below key moving averages. The primary support for the score comes from the attractive valuation, particularly the high dividend yield, which may limit downside. The strong cash flow recovery is a positive but is not enough to offset the broader concerns.

Positive Factors

Improved Free Cash FlowThe 2025 recovery in free cash flow, with cash generation roughly matching reported earnings, indicates improved earnings quality after the prior-year shortfall. If maintained, stronger cash conversion can support reinvestment, debt service, and shareholder returns over the next several quarters.

Negative Factors

Revenue ContractionSeveral years of flat-to-down revenue following the earlier growth period point to weaker demand or reduced business momentum. Persistent top-line pressure can limit operating leverage, reduce reinvestment capacity, and make recovery in earnings more dependent on cost controls.

Bausen Inc. (2948) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 1.15B
Dividend Yield: 5.36%
Average Volume (3M): 5,026
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

Financial performance is mixed. Cash flow is a bright spot with a strong recovery to $173M in free cash flow and excellent earnings conversion. However, this is offset by a declining income statement (revenue -1.05%, gross margin falling to 35.7%) and a weakening balance sheet with rising debt and a return on equity that has plummeted to 6.4%.

Income Statement

38Negative

Balance Sheet

45Neutral

Cash Flow

72Positive

Financial statement breakdown
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

UnderperformOutperform

Sector (55)

Financial Indicators

TW:2948 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:4584	61Neutral	TWD 1.07B	20.55	―	5.69%	-16.79%	-50.73%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:2948	54Neutral	TWD 1.15B	16.80	―	5.36%	-0.34%	13.84%
TW:3308	45Neutral	TWD 1.14B	10.92	―	―	13.86%	79.78%
TW:2230	40Underperform	TWD 1.34B	-8.29	―	3.11%	-4.47%	-514.66%
TW:6680	40Underperform	TWD 1.23B	51.11	―	6.02%	11.10%	-7.06%

* General Sector Average

Performance Comparison

TW:2948 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:2948	Bausen Inc.	35.95	0.98	2.79%
TW:2230	C.T.I. Traffic Industries Co., Ltd.	19.55	-77.87	-79.93%
TW:3308	Bestec Power Electronics Co., Ltd	17.30	2.00	13.07%
TW:4584	Jufan Industrial Co., Ltd.	35.15	-12.43	-26.12%
TW:6638	Goldtek Technology Co., Ltd.	44.20	14.40	48.32%
TW:6680	SINTRONES Technology Corp.	49.20	-19.54	-28.43%

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

Bausen Inc. AI Stock Analysis