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Ace Bed Company (003800) Fair Value & Analysis

Consumer Cyclical · KR · Market cap 340B KRW

AB Ace Bed Company 003800 · KQ
Price33,200 KRW
Fair Value80,489 KRW
Upside+142.4%
Quality64/100
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Weak Growth
Solidly profitable · 19.2% net margin
generates free cash flow
7.14% dividend yield
Ranks above peers (9/9)
Moderate moat 56/100
Evidence: High Range 58,420 KRW – 112,327 KRW Share as image

Fair value as of: Jul 20, 2026

From 24 valuation models · updated 21 days ago

Share price +3.8% over the past month.

A solid business, screening 142% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (58,420 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 (58,420 KRW to 112,327 KRW) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

50,326 KRW 20,269 KRW Fair Value 80,489 KRW Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 20, 2026.

How to read this chart

60‑month range 20,269 KRW – 50,326 KRW · fair‑value band 58,420 KRW – 112,327 KRW · the 33,200 KRW price screens below the 80,489 KRW fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 20, 2026.

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Analysis

Ace Bed Company (003800) currently trades at 33,200 KRW, while our model-based Fair Value estimate is 80,489 KRW, implying the stock looks roughly 142.4% undervalued today. The Quality Score stands at 64/100 (solid quality), in the Consumer Cyclical sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Ace Bed Company generated revenue of 321B KRW at a net margin of 19.2%. Revenue grew 4.5% year over year. It earns a return on equity of 8.5%. Fundamentals as of Jul 20, 2026

Our scenario range runs from 58,420 KRW (bear case) to 112,327 KRW (bull case); at 33,200 KRW, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 17% below its 52-week high and 32% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 16% fair-value upside, at 142%, 003800 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

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
Highest evidence
Residual Income 56,458 KRW 60,815 KRW 74,266 KRW 76
Growth DCF 52,634 KRW 75,948 KRW 109,665 KRW 72
Gordon GGM 11,859 KRW 22,230 KRW 37,009 KRW 70
All 24 models by family
DCF Models
FCF DCF 50,998 KRW 76,020 KRW 113,847 KRW 38
5Y Revenue Exit 33,205 KRW 47,051 KRW 63,800 KRW 39
5Y EBITDA Exit 49,949 KRW 77,019 KRW 107,299 KRW 41
5Y P/E Exit 67,840 KRW 109,038 KRW 150,432 KRW 38
10Y Revenue Exit 38,376 KRW 52,204 KRW 68,898 KRW 36
10Y EBITDA Exit 49,869 KRW 72,997 KRW 101,517 KRW 37
10Y P/E Exit 61,334 KRW 95,213 KRW 133,862 KRW 35
Earnings-Based
Graham-Dodd 36,054 KRW 87,821 KRW 113,566 KRW 54
PEG = 1.0 15,662 KRW 22,375 KRW 29,087 KRW 46
EPV 35,228 KRW 41,445 KRW 46,971 KRW 59
Dividend Discount
Gordon GGM 11,859 KRW 22,230 KRW 37,009 KRW 70
DDM Multi-Stage 11,859 KRW 18,122 KRW 25,287 KRW 61
Multiples
P/E Multiple 87,484 KRW 116,645 KRW 145,807 KRW 63
P/S Multiple 27,048 KRW 36,064 KRW 45,079 KRW 58
P/B Multiple 67,601 KRW 90,135 KRW 112,669 KRW 55
EV/EBIT 69,171 KRW 92,227 KRW 115,284 KRW 53
EV/EBITDA 56,266 KRW 75,021 KRW 93,776 KRW 54
EV/Revenue 25,244 KRW 36,064 KRW 46,883 KRW 43
Asset-Based
NCAV (Graham) 33,472 KRW 44,852 KRW 66,944 KRW 50
Growth DCF
Growth DCF 52,634 KRW 75,948 KRW 109,665 KRW 72
Rev-Margin DCF 33,205 KRW 47,763 KRW 63,731 KRW 67
Economic Profit
Residual Income 56,458 KRW 60,815 KRW 74,266 KRW 76
ROIC Compounder 35,228 KRW 41,445 KRW 46,971 KRW 67
Growth Earnings
Growth-Adj P/E 66,679 KRW 95,256 KRW 123,832 KRW 68

Widest divergence: Growth Earnings (95,256 KRW) versus Dividend Discount (18,122 KRW). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 321B KRW
Revenue growth (YoY) +4.5%
Net margin 19.2%
Return on equity 8.5%
Free cash flow 47.6B KRW FY2024
Operating margin 15.1%
More key figures
Dividend yield 7.0%
EPS growth (YoY) +57.9%

Figures from reported company fundamentals · as of Jul 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 64/100

Of which business quality 64 · Market factors (momentum, volatility) 58

Profitability 46
Margins and returns on capital today
Quality Growth 23
Are margins and returns improving?
Cashflow 76
Earnings quality: real cash, not paper profit
Fin. Strength 80
Balance sheet, leverage, solvency risk
Investment 76
Disciplined investing over empire-building
Low Volatility 82
Calm price path (market factor)
Momentum 43
Price trend over the last 3–12 months (market factor)
52W Momentum 55
Distance to the 52-week high (market factor)
Net Issuance 77
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

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.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Ace Bed Company 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.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
317B KRW
Latest YoY
−2.7%
Avg. growth/yr (3Y) 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.
−2.9%
Avg. growth/yr (5Y) 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.
+1.8%
Avg. growth/yr (14Y) 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.
+3.8%
Revenue −2.2%/yr
FY21 346B KRW
FY22 346B KRW
FY23 306B KRW
FY24 326B KRW
FY25 317B KRW
Net income −3.3%/yr
FY21 63.9B KRW
FY22 54.4B KRW
FY23 51.4B KRW
FY24 65.9B KRW
FY25 56.0B KRW

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Cite: Fair Value Calculator (2026). "Ace Bed Company Fair Value". https://www.fairvalue-calculator.com/stock/003800

Peer Group

Furnishings, Fixtures & Appliances · 311 stocks

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.

Quality Score 64 · Top 25%
Fair Value upside +142% · Top 25%
Return on equity (TTM) 9% · Above median
Return on assets 4% · Above median
Net margin (TTM) 19% · Top 25%
Operating margin (TTM) 15% · Top 25%
Revenue growth 5% · Above median
Dividend yield (TTM) 7.1% · Top 25%

Valuation Multiples vs Furnishings, Fixtures & Appliances median · lower = cheaper

P/FCF 0.0× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 22
FUTURE 23 · sector 0
PAST 34 · sector 19
HEALTH 0 · sector 97
DIVIDEND 100 · sector 55

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Furnishings, Fixtures & Appliances stocks, each showing price versus our Fair Value estimate (as of Jul 20, 2026).

Stock Price Fair Value vs Fair Value
Midea Group 000333 ¥82.71 ¥107.22 +30%
Gree Electric Appliances, Inc 000651 ¥38.25 ¥88.02 +130%
Haier Smart Home Co 600690 ¥21.46 ¥36.04 +68%
King Slide Works Co 2059 8,655 TWD 1,917 TWD -78%
Guangdong Songfa Ceramics Co 603268 ¥155.59 ¥38.95 -75%
SharkNinja, Inc SN $154.53 $89.07 -42%
Hisense Home Appliances Group 000921 ¥26.33 ¥48.03 +82%
Zhejiang Supor Co 002032 ¥43.85 ¥44.84 +2%
COWAY Co 021240 96,700 KRW 112,530 KRW +16%
Ecovacs Robotics Co 603486 ¥50.13 ¥54.11 +8%

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Frequently asked questions

Is Ace Bed Company (003800) overvalued or undervalued?
As of Jul 20, 2026, our model estimates a fair value of 80,489 KRW versus a price of 33,200 KRW, about +142% (undervalued).
What is the fair value of 003800?
Our model-based fair value for Ace Bed Company is 80,489 KRW (as of Jul 20, 2026), built from audited fundamentals. The current price is 33,200 KRW.
What is the quality score of 003800?
Ace Bed Company 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 revenue of Ace Bed Company (003800)?
Ace Bed Company reported trailing-twelve-month revenue of about 321B KRW (latest available figure, as of Jul 20, 2026).
What is the net profit margin of 003800?
The net profit margin of Ace Bed Company is about 19.2%, meaning it keeps roughly 19.2% of revenue as net income. Based on the latest reported figures.
Does Ace Bed Company pay a dividend?
Ace Bed Company currently shows a dividend yield of about 7.03% relative to its recent price (as of Jul 20, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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