| Valuation method | Value, € | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | n/a | n/a |
| Intrinsic value (DCF) | n/a | |
| Graham-Dodd Method | n/a | |
| Graham Formula | 5.98 | 4051 |
Sleepz AG is a German e-commerce company specializing in sleep and home living products. Operating under multiple online shop brands such as perfekt-schlafen.de, markenschlaf.de, and bettenriese.de, the company offers a wide range of sleep-related products, including mattresses, beds, bedding, and accessories. Sleepz AG also develops its own mattresses under the Grafenfels brand, positioning itself as a vertically integrated player in the online sleep solutions market. Headquartered in Berlin, the company serves the German market with a focus on convenience, quality, and competitive pricing. Formerly known as bmp Holding AG, Sleepz AG rebranded in 2017 to better reflect its core business. Despite its niche focus, the company competes in the broader consumer cyclical sector, where e-commerce penetration continues to grow. With a market capitalization of approximately €2.69 million, Sleepz AG remains a small but notable player in Germany's specialty retail landscape.
Sleepz AG presents a high-risk investment opportunity due to its financial struggles, including a net loss of €4.13 million in FY 2017 and negative operating cash flow of €2.85 million. The company's small market cap (€2.69M) and lack of profitability raise concerns about sustainability, though its low beta (0.74) suggests lower volatility relative to the market. The e-commerce sleep products segment is competitive, and Sleepz AG's multi-brand strategy may dilute marketing efficiency. However, its vertical integration (Grafenfels brand) and diversified online presence could offer growth potential if operational efficiencies improve. Investors should closely monitor cash burn and debt levels (€941.6K total debt vs. €500.2K cash). No dividends are paid, making this a pure capital appreciation play.
Sleepz AG operates in a highly competitive e-commerce space dominated by larger players with stronger brand recognition and economies of scale. Its multi-brand strategy (perfekt-schlafen.de, bettenriese.de, etc.) allows it to target different customer segments but may lead to fragmented marketing spend. The company’s vertical integration through its Grafenfels mattress brand provides some differentiation, though it lacks the scale of dedicated mattress manufacturers. Sleepz AG’s focus on sleep products gives it niche expertise, but it competes with generalist e-commerce giants that offer similar products alongside broader home goods. The German market is crowded with both online and offline mattress retailers, limiting pricing power. Sleepz AG’s financial weakness (negative EPS, declining revenue) further hampers its ability to invest in technology or customer acquisition compared to well-funded rivals. Its competitive advantage lies in local market knowledge and a curated product selection, but without significant capital infusion, scaling will remain challenging.