Norbel Baby Co., Ltd. (6844) AI Stock Analysis

Norbel Baby Co., Ltd.

(TPEx:6844)

Select Model

Rating:54.5Neutral

Price Target:TWD 59.00▲(4.24% Upside)

Action:initiatedcoverage

Date:11/10/26

The overall score of 54.5 reflects a company with a stable financial foundation but significant operational headwinds. The primary positive is an attractive valuation, featuring a low P/E ratio and a very high dividend yield. This is counterbalanced by the main risk: a clear and concerning trend of deteriorating profitability and margin compression, despite a recent rebound in revenue. Technical analysis shows the stock in a medium-term downtrend, though not at an extreme. The company is financially safe, but its ability to improve profit generation is the key factor to watch.

Positive Factors

Revenue ReboundThe 25% revenue rebound demonstrates renewed demand and a recovery in commercial activity after two weaker years. If maintained, stronger sales can improve operating leverage, support investment in merchandising and distribution, and rebuild earnings capacity over the next several quarters.

Negative Factors

Severe Margin CompressionThe multi-year decline in gross, EBIT, and net margins shows that revenue growth is translating into substantially less profit. Persistently lower profitability can restrict reinvestment, weaken resilience to cost pressure, and make earnings more dependent on a successful margin recovery.

Norbel Baby Co., Ltd. (6844) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 2.11B
Dividend Yield: 7.04%
Average Volume (3M): 17.42K
Price to Earnings (P/E): 10.0
Beta (1Y): -0.09
Revenue Growth: 2.36%
EPS Growth: 147.22%
Country: TW
Employees: 776
Sector: General
Sector Strength: 55
Industry: Specialty Retail

Norbel Baby Co., Ltd. Business Overview & Revenue Model

Company Description

Norbel Baby Co., Ltd is a Taiwanese company that offers a diverse range of products, encompassing maternity and infant care items, medical provisions, nutritional supplements, and beauty products. Their merchandise is also available for purchase thro...

Norbel Baby Co., Ltd. Financial Statement Overview

Summary

Financial performance is mixed. A strong, low-leverage balance sheet (Score: 65) provides stability, but this is offset by deteriorating profitability, with significant margin compression and a sharp drop in ROE (Income Score: 35). Cash flow has rebounded but shows weakening cash conversion from core operations (Score: 45). The overall profile is of a financially safe company struggling with profitability.

Income Statement

35Negative

Balance Sheet

65Positive

Cash Flow

45Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Mar 2023	Dec 2021
Income Statement
Total Revenue	3.42B	3.45B	3.40B	3.60B	4.20B	3.81B
Gross Profit	978.74M	913.75M	1.14B	1.23B	1.21B	1.03B
EBITDA	349.47M	333.82M	393.53M	502.39M	683.43M	556.02M
Net Income	122.91M	87.85M	111.58M	208.04M	362.88M	264.21M
Balance Sheet
Total Assets	5.06B	4.92B	4.92B	4.52B	4.05B	3.75B
Cash, Cash Equivalents and Short-Term Investments	1.74B	1.71B	1.93B	1.72B	1.11B	926.57M
Total Debt	1.28B	1.20B	1.08B	995.84M	964.63M	858.67M
Total Liabilities	1.95B	1.73B	1.62B	1.56B	1.69B	1.55B
Stockholders Equity	3.11B	3.19B	3.30B	2.96B	2.35B	2.20B
Cash Flow
Free Cash Flow	344.61M	287.92M	213.37M	409.17M	588.71M	262.18M
Operating Cash Flow	365.85M	321.48M	244.77M	431.05M	609.83M	418.11M
Investing Cash Flow	88.42M	-139.91M	-265.75M	-622.52M	-126.90M	-221.93M
Financing Cash Flow	-419.77M	-420.47M	13.39M	201.56M	-399.85M	-330.19M

Norbel Baby Co., Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:6844 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:4106	68Neutral	TWD 2.36B	13.20	―	4.28%	7.96%	86.06%
TW:6574	66Neutral	TWD 2.39B	8.69	―	2.56%	20.16%	136.85%
TW:1259	56Neutral	TWD 2.06B	17.93	―	1.89%	2.00%	298.30%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:6844	55Neutral	TWD 2.13B	10.04	―	7.04%	2.36%	147.22%
TW:2430	45Neutral	TWD 2.01B	29.31	―	4.71%	-1.62%	-41.96%

* General Sector Average

Performance Comparison

TW:6844 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:6844	Norbel Baby Co., Ltd.	56.60	-18.79	-24.92%
TW:1259	An-Shin Food Services Co., Ltd.	68.50	6.71	10.85%
TW:2430	Tsann Kuen Enterprise Co.,Ltd	16.95	-6.25	-26.95%
TW:2942	Jing-Jan Retail Business Co., Ltd.	34.50	6.18	21.83%
TW:4106	Wellell Inc.	24.10	3.38	16.32%
TW:6574	MIKOBEAUTE INTERNATIONAL CO., LTD.	113.00	40.18	55.17%

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

Norbel Baby Co., Ltd. AI Stock Analysis