Bonny Worldwide Ltd. (8467) AI Stock Analysis

Bonny Worldwide Ltd.

(TWSE:8467)

Select Model

Rating:70Outperform

Price Target:TWD 107.00▲(20.22% Upside)

Action:initiatedcoverage

Date:11/10/26

The overall score of 70 is driven primarily by the company's strong financial performance, particularly its excellent cash flow and healthy balance sheet. The attractive valuation, featuring a low P/E and high dividend yield, further supports the score. However, the score is constrained by a recent decline in revenue and a mixed technical picture, where the stock is trading below its long-term moving average, indicating potential underlying weakness.

Positive Factors

Strong ProfitabilityStrong operating and net margins indicate that the company retains meaningful profitability even as recent revenue softened. This earnings quality can support internal reinvestment, dividend capacity, and resilience over the next several quarters if margins remain broadly stable.

Negative Factors

Revenue ContractionThe latest revenue decline shows that demand or business activity lost momentum after a period of scale expansion. Persistent top-line weakness could reduce operating leverage, limit reinvestment capacity, and make it harder to sustain the company’s otherwise strong profitability.

Bonny Worldwide Ltd. (8467) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 4.28B
Dividend Yield: 5.62%
Average Volume (3M): 26.46K
Price to Earnings (P/E): 12.8
Beta (1Y): 0.51
Revenue Growth: -13.68%
EPS Growth: -46.39%
Country: TW
Employees: 1,007
Sector: General
Sector Strength: 55
Industry: Leisure

Bonny Worldwide Ltd. Business Overview & Revenue Model

Company Description

Bonny Worldwide Limited, together with its subsidiaries, engages in the manufacture and sale of OEM and ODM carbon fiber rackets and related sporting goods in China. The company offers hockey sticks, tennis and badminton rackets, and carbon fiber rim...

Bonny Worldwide Ltd. Financial Statement Overview

Summary

Strong cash flow generation and improving profitability margins are offset by a recent 8.6% revenue decline. The balance sheet is healthy with reduced leverage and a solid 17.7% ROE. Overall, financial health is robust, but top-line contraction is a key risk.

Income Statement

72Positive

Balance Sheet

78Positive

Cash Flow

85Very Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Mar 2024	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.26B	2.43B	2.47B	1.99B	1.96B	1.41B
Gross Profit	872.80M	1.02B	1.01B	778.56M	736.74M	466.34M
EBITDA	569.46M	735.98M	852.93M	621.25M	630.34M	273.91M
Net Income	311.92M	508.50M	589.62M	386.87M	406.78M	97.91M
Balance Sheet
Total Assets	4.87B	4.67B	4.24B	3.41B	3.22B	2.80B
Cash, Cash Equivalents and Short-Term Investments	1.95B	2.16B	1.72B	1.08B	688.63M	591.18M
Total Debt	1.68B	1.39B	951.42M	1.10B	1.18B	1.10B
Total Liabilities	2.28B	1.80B	1.39B	1.38B	1.61B	1.35B
Stockholders Equity	2.59B	2.87B	2.85B	2.04B	1.61B	1.44B
Cash Flow
Free Cash Flow	267.75M	751.14M	374.84M	387.36M	32.32M	-111.85M
Operating Cash Flow	547.29M	985.89M	526.13M	459.32M	169.94M	34.18M
Investing Cash Flow	-364.94M	-200.80M	-55.66M	116.94M	-31.55M	-288.06M
Financing Cash Flow	-167.48M	-64.86M	-2.14M	-129.91M	-46.07M	208.24M

Bonny Worldwide Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:8467 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:8467	70Outperform	TWD 4.21B	12.84	―	5.62%	-13.68%	-46.39%
TW:1527	58Neutral	TWD 4.09B	14.00	―	5.08%	-14.67%	47.26%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:8404	53Neutral	TWD 5.00B	39.43	―	4.15%	3.76%	-76.04%
TW:1525	48Neutral	TWD 4.54B	29.95	―	4.52%	3.84%	-46.54%
TW:1528	44Neutral	TWD 5.17B	-67.31	―	0.35%	2.48%	45.58%
TW:1455	43Neutral	TWD 4.58B	14.46	―	1.88%	-22.22%	―

* General Sector Average

Performance Comparison

TW:8467 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:8467	Bonny Worldwide Ltd.	89.00	-47.78	-34.93%
TW:1455	Zig Sheng Ind. Co., Ltd	8.53	0.62	7.80%
TW:1525	Kian Shen Corporation	62.00	1.11	1.82%
TW:1527	Basso Industry Corp. Ltd.	29.55	-2.13	-6.71%
TW:1528	Anderson Industrial Corp.	28.00	11.90	73.91%
TW:8404	Paiho Shih Holdings Corporation	12.05	-12.49	-50.90%

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 10, 2026

Bonny Worldwide Ltd. AI Stock Analysis