Ace Bed Company Limited (003800) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Ace Bed Company Limited KRW 58,840, price KRW 32,350, upside +81.9%, quality 64 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 20,269 KRW – 50,326 KRW · fair‑value band 41,239 KRW – 80,404 KRW · the 32,350 KRW price screens below the 58,840 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Ace Bed Company Limited engages in the manufacture and sale of beds and furniture products in Korea and internationally. It offers bed frames and mattresses. The company was founded in 1963 and is headquartered in Seongnam-si, South Korea.
Stock analysis
Ace Bed Company Limited (003800) currently trades at 32,350 KRW, while our model-based Fair Value estimate is 58,840 KRW, implying the stock looks roughly 45.0% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 95,256 KRW per share, and 19 of the 24 models we run sit above the 32,350 KRW price.
Bear case: the Dividend Discount group reads lowest at 11,765 KRW, and 5 of the 24 models stay below the price. Evidence for this calculation is medium.
Scenario range: 41,239 KRW (bear) to 80,404 KRW (bull), the price of 32,350 KRW sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 64/100 (solid quality), in the Consumer Cyclical sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Ace Bed Company Limited reported revenue of 317B KRW in FY2025 versus 346B KRW in FY2021, a compound −2.2%/yr. Reported net income was 56.0B KRW in FY2025, compounding −3.3%/yr from FY2021.
Key figures
Market cap 342B KRW (≈ $251M) · P/S ratio 1.06 · Dividend yield 7.1% · Net margin 17.6% · Return on equity 8.5% · Return on assets (EBIT) 9.5% · Operating margin 15.1% · Revenue (TTM) 321B KRW.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (low confidence).
What moves the price
The share trades about 18% below its 52-week high and 31% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 1% fair-value upside, at 82%, 003800 screens cheaper than that median.
Fair Value models
Bear 41,239 KRWFair Value 58,840 KRWBull 80,404 KRW
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
−2.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−2.9%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+1.8%
Start year 2020 (pandemic). Over 10 years: +5.1% a year
Revenue growth 14 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.8%
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What shareholders gained per year (last 5 years), in KRW ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in KRW: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+15.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+8.6%
Dividend (yield on the price)7.1%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.19% → 17%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−14.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (South Korea: IMF forecast 2.1% a year to 2030, 2.1% from 2016 to 2025) that is about −16.1% a year for the price.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Furnishings, Fixtures & Appliances · 317 stocks
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Cite: Fair Value Calculator (2026). "Ace Bed Company Limited Fair Value". https://www.fairvalue-calculator.com/stock/003800
Frequently asked questions
Is Ace Bed Company Limited (003800) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 58,840 KRW versus a price of 32,350 KRW, about +82% upside (undervalued).
What is the fair value of 003800?
Our model-based fair value for Ace Bed Company Limited is 58,840 KRW (as of Sep 24, 2026), built from audited fundamentals. The current price: 32,350 KRW.
What is the quality score of 003800?
Ace Bed Company Limited has a Quality Score of 64/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Ace Bed Company Limited (003800)?
Our model-based price target is the fair value of 58,840 KRW (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 41,239 KRW, optimistic scenario 80,404 KRW. It is a calculation from audited fundamentals, not an analyst target.
What is the Ace Bed Company Limited stock forecast for 2026?
Our models put fair value at 58,840 KRW, about +82% upside versus a price of 32,350 KRW (undervalued). Cautious scenario 41,239 KRW, optimistic scenario 80,404 KRW. The calculation is refreshed regularly with new filings.
What is the revenue of Ace Bed Company Limited (003800)?
Ace Bed Company Limited reported trailing-twelve-month revenue of about 321B KRW (latest available figure, as of Sep 24, 2026).
Does Ace Bed Company Limited pay a dividend?
Ace Bed Company Limited currently shows a dividend yield of about 7.11% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Ace Bed Company Limited (003800)?
For today's price to be fair in a discounted-cash-flow model, Ace Bed Company Limited would have to grow free cash flow by -14.3 % per year for five years (discount rate 11.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +1.9 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 003800 use?
Our models discount Ace Bed Company Limited at 11.6 %: a base by market capitalisation (micro), damped by beta 0.33, country premium for South Korea. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Ace Bed Company Limited that is -14.3 % per year a year over ten years, using the same discount rate (11.6 %) and the same formula as our fair value.
How much growth has Ace Bed Company Limited (003800) delivered so far?
Over the past 5 years revenue at Ace Bed Company Limited grew +1.9 % a year. The price currently implies -14.3 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Ace Bed Company Limited (003800) growing?
The median revenue growth in the sector is +2.6 % a year. That is the yardstick for the growth priced into Ace Bed Company Limited (-14.3 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Ace Bed Company Limited (003800)?
The free-cash-flow yield on the price is 13.93 %: that much free cash flow Ace Bed Company Limited produces per unit of market value. When it exceeds the discount rate of our models (11.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Ace Bed Company Limited (003800)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ace Bed Company Limited it is 58,840 KRW per share (as of Sep 24, 2026), against a price of 32,350 KRW. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Ace Bed Company Limited stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 003800 trades below its calculated fair value: price 32,350 KRW, fair value 58,840 KRW, a gap of about +82% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 003800?
No. The price is what the market pays today (32,350 KRW); the fair value is what the company's own numbers justify (58,840 KRW). For Ace Bed Company Limited the two are 26,490 KRW per share apart. That gap is exactly why we show both numbers side by side.
How much is Ace Bed Company Limited worth?
The market values Ace Bed Company Limited at about 342B KRW (market capitalisation, as of Sep 24, 2026). Per share that is 32,350 KRW; our models calculate a fair value of 58,840 KRW per share.
What do the bullish and bearish scenarios say about 003800?
Our models span a range for Ace Bed Company Limited: cautious scenario 41,239 KRW, base 58,840 KRW, optimistic 80,404 KRW per share (as of Sep 24, 2026, price 32,350 KRW). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Ace Bed Company Limited (003800)?
Balance-sheet figures for Ace Bed Company Limited (as of Sep 24, 2026): return on equity 8.5%. They feed the Quality Score of 64/100, which measures business quality independently of the share price.
How far is 003800 from its 52-week high?
Ace Bed Company Limited trades at 32,350 KRW, about 18% below its 52-week high of 39,450 KRW and 31% above the low of 24,683 KRW (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 58,840 KRW is for.
Which stocks are comparable to Ace Bed Company Limited?
From the same area (Consumer Cyclical) we also value Midea Group, Gree Electric Appliances, Inc, Haier Smart Home Co, King Slide Works Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Ace Bed Company Limited stock attractive at the current price?
The data as of Sep 24, 2026: price 32,350 KRW, calculated fair value 58,840 KRW (+82%), Quality Score 64/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 003800 calculated?
We run Ace Bed Company Limited through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 58,840 KRW, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0 % above its aggregate fair value. Ace Bed Company Limited currently trades 82 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Ace Bed Company Limited (003800)?
The closing price on Sep 23, 2026 was 32,350 KRW. Our model-based fair value is 58,840 KRW, about +82% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ace Bed Company Limited right now?
The price is below even our cautious bear case (41,239 KRW). The market is more pessimistic than our downside scenario. Solid quality (64/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range (41,239 KRW to 80,404 KRW) leaves room in how you read the outcome.
Key figures of Ace Bed Company Limited
How large is the market capitalisation of Ace Bed Company Limited (003800)?
The market capitalisation of Ace Bed Company Limited is 342B KRW (≈ $251M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Ace Bed Company Limited (003800)?
The price-to-sales ratio of Ace Bed Company Limited is 1.06 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of Ace Bed Company Limited (003800)?
The dividend yield of Ace Bed Company Limited is 7.1%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Ace Bed Company Limited (003800)?
The net margin of Ace Bed Company Limited is 17.6% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Ace Bed Company Limited (003800)?
The return on equity (ROE) of Ace Bed Company Limited is 8.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Ace Bed Company Limited (003800)?
On an EBIT basis the return on assets of Ace Bed Company Limited is 9.5% (avg 4y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Ace Bed Company Limited (003800)?
The operating margin of Ace Bed Company Limited is 15.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ace Bed Company Limited (003800)?
Revenue at Ace Bed Company Limited is growing +4.5% versus a year earlier (3y avg −2.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Ace Bed Company Limited (003800)?
Earnings per share at Ace Bed Company Limited are growing +57.9% versus a year earlier. How much earnings per share grew versus a year earlier.
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