Bedding World Co., Ltd.
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 1972 and is based in Taipei, Taiwan.
Bedding World Co., Ltd. (2938) - Net Assets
Latest net assets as of June 2025: NT$664.73 Million TWD
Based on the latest financial reports, Bedding World Co., Ltd. (2938) has net assets worth NT$664.73 Million TWD as of June 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (NT$1.60 Billion) and total liabilities (NT$931.49 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | NT$664.73 Million |
| % of Total Assets | 41.64% |
| Annual Growth Rate | 15.62% |
| 5-Year Change | 31.17% |
| 10-Year Change | 173.35% |
| Growth Volatility | 14.07 |
Bedding World Co., Ltd. - Net Assets Trend (2013–2024)
This chart illustrates how Bedding World Co., Ltd.'s net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Bedding World Co., Ltd. (2013–2024)
The table below shows the annual net assets of Bedding World Co., Ltd. from 2013 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | NT$701.59 Million | +6.06% |
| 2023-12-31 | NT$661.52 Million | +2.33% |
| 2022-12-31 | NT$646.47 Million | +7.87% |
| 2021-12-31 | NT$599.30 Million | +12.05% |
| 2020-12-31 | NT$534.85 Million | +8.61% |
| 2019-12-31 | NT$492.43 Million | +6.33% |
| 2018-12-31 | NT$463.10 Million | +9.18% |
| 2017-12-31 | NT$424.15 Million | +17.66% |
| 2016-12-31 | NT$360.47 Million | +40.44% |
| 2015-12-31 | NT$256.67 Million | +22.70% |
| 2014-12-31 | NT$209.19 Million | +47.18% |
| 2013-12-31 | NT$142.13 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Bedding World Co., Ltd.'s total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 34797400000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | NT$336.17 Million | 47.92% |
| Common Stock | NT$201.40 Million | 28.71% |
| Other Comprehensive Income | NT$83.41 Million | 11.89% |
| Other Components | NT$80.61 Million | 11.49% |
| Total Equity | NT$701.59 Million | 100.00% |
Bedding World Co., Ltd. Competitors by Market Cap
The table below lists competitors of Bedding World Co., Ltd. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Indiva Ltd
PINK:NDVAF
|
$3.06 Million |
|
HLT Global Bhd
KLSE:0188
|
$3.07 Million |
|
EA Holdings Bhd
KLSE:0154
|
$3.07 Million |
|
BluGlass Limited
PINK:BUGLF
|
$3.07 Million |
|
WestBond Enterprises Corporation
PINK:WBNEF
|
$3.06 Million |
|
Sixty North Gold Mining Ltd
PINK:SXNTF
|
$3.06 Million |
|
Winnergy Medical Public Company Limited
BK:WINMED
|
$3.06 Million |
|
Belgravia Hartford Capital Inc
PINK:BLGVF
|
$3.06 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Bedding World Co., Ltd.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 661,519,000 to 701,588,000, a change of 40,069,000 (6.1%).
- Net income of 85,384,000 contributed positively to equity growth.
- Dividend payments of 45,315,000 reduced retained earnings.
- Other comprehensive income increased equity by 7,547,000.
- Other factors decreased equity by 7,547,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | NT$85.38 Million | +12.17% |
| Dividends Paid | NT$45.31 Million | -6.46% |
| Other Comprehensive Income | NT$7.55 Million | +1.08% |
| Other Changes | NT$-7.55 Million | -1.08% |
| Total Change | NT$- | 6.06% |
Book Value vs Market Value Analysis
This analysis compares Bedding World Co., Ltd.'s book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.67x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 3.13x to 0.67x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2013-12-31 | NT$7.48 | NT$23.40 | x |
| 2014-12-31 | NT$12.99 | NT$23.40 | x |
| 2015-12-31 | NT$16.01 | NT$23.40 | x |
| 2016-12-31 | NT$18.43 | NT$23.40 | x |
| 2017-12-31 | NT$21.05 | NT$23.40 | x |
| 2018-12-31 | NT$23.01 | NT$23.40 | x |
| 2019-12-31 | NT$24.44 | NT$23.40 | x |
| 2020-12-31 | NT$26.55 | NT$23.40 | x |
| 2021-12-31 | NT$29.75 | NT$23.40 | x |
| 2022-12-31 | NT$32.09 | NT$23.40 | x |
| 2023-12-31 | NT$32.84 | NT$23.40 | x |
| 2024-12-31 | NT$34.83 | NT$23.40 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Bedding World Co., Ltd. utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 12.17%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 10.16%
- • Asset Turnover: 0.51x
- • Equity Multiplier: 2.36x
- Recent ROE (12.17%) is below the historical average (16.94%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2013 | 8.19% | 1.98% | 0.76x | 5.44x | NT$-2.57 Million |
| 2014 | 32.46% | 9.60% | 0.86x | 3.92x | NT$46.39 Million |
| 2015 | 17.56% | 6.44% | 0.80x | 3.42x | NT$19.40 Million |
| 2016 | 12.21% | 6.34% | 0.84x | 2.30x | NT$7.96 Million |
| 2017 | 20.39% | 11.57% | 0.84x | 2.09x | NT$44.06 Million |
| 2018 | 17.16% | 10.78% | 0.81x | 1.97x | NT$33.18 Million |
| 2019 | 17.07% | 11.04% | 0.51x | 3.01x | NT$34.84 Million |
| 2020 | 17.35% | 11.95% | 0.51x | 2.85x | NT$39.29 Million |
| 2021 | 19.16% | 13.70% | 0.51x | 2.75x | NT$54.88 Million |
| 2022 | 18.14% | 13.17% | 0.52x | 2.63x | NT$52.60 Million |
| 2023 | 11.41% | 8.87% | 0.51x | 2.50x | NT$9.32 Million |
| 2024 | 12.17% | 10.16% | 0.51x | 2.36x | NT$15.23 Million |
Industry Comparison
This section compares Bedding World Co., Ltd.'s net assets metrics with peer companies in the Furnishings, Fixtures & Appliances industry.
Industry Context
- Industry: Furnishings, Fixtures & Appliances
- Average net assets among peers: $7,115,385,444
- Average return on equity (ROE) among peers: 9.24%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Bedding World Co., Ltd. (2938) | NT$664.73 Million | 8.19% | 1.40x | $3.06 Million |
| Zeng Hsing Industrial Co Ltd (1558) | $8.23 Billion | 5.97% | 0.53x | $159.60 Million |
| Sampo Corp (1604) | $7.48 Billion | 1.91% | 0.73x | $194.91 Million |
| China Electric Manufacturing Corp (1611) | $4.56 Billion | 1.75% | 0.29x | $96.73 Million |
| Taiwan Sanyo Electric Co Ltd (1614) | $5.17 Billion | 4.11% | 0.26x | $126.91 Million |
| Airmate Cayman International Co Ltd (1626) | $2.22 Billion | 22.35% | 2.06x | $26.74 Million |
| Hocheng Corp (1810) | $6.31 Billion | 3.21% | 0.80x | $119.59 Million |
| King Slide Works Co Ltd (2059) | $28.04 Billion | 35.08% | 0.25x | $5.64 Billion |
| Fortune Oriental Co Ltd (2491) | $724.35 Million | 5.40% | 1.92x | $24.92 Million |
| Ado Optronics (3516) | $1.30 Billion | 3.37% | 0.48x | $15.82 Million |