Credit and interest ratesmixed · 5 filings
“We had net repayments of $272.1 million on our credit facilities in 2026 as compared to net borrowings of $1,098.5 million in 2025, which were driven by the Mattress Firm Acquisition.”10-Q · Aug 7, 2026 ↗
Somnigroup International Inc.
SGI
Market read
Somnigroup International Inc.'s current read is isolated; its market group is not confirming.
The latest filing evidence is available. 0 of 15 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 1 directly disclosed connection is confirming.
What changed
- Operating margin improved 1.5 percentage points.
- Revenue decreased 3.0% versus the comparable filing period.
Company+0.9% todayVolume comparison unavailable
Market group0 of 15 activeEconomic Cyclicals · unavailable
Disclosed network0 of 1 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- Filing reports achievement of synergies of 620 basis points and elimination of Mattress Firm sales of 450 basis points as primary drivers of gross margin improvement.
Invalidation: The isolated read changes if SGI's group or a disclosed connection begins moving with it.
Research brief
The story so far
The latest filing evidence is available. 0 of 15 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 1 directly disclosed connection is confirming.
Evidence that supports
- Operating margin improved 1.5 percentage points.
Evidence that challenges
- Revenue decreased 3.0% versus the comparable filing period.
What would clarify the read
- Filing reports achievement of synergies of 620 basis points and elimination of Mattress Firm sales of 450 basis points as primary drivers of gross margin improvement.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations328
Usable filing statements151
Verified relationships1
Evidence supporting the case
- Latest annual revenue changed +51.6% year over year.
- Operating cash flow covered net income at 2.08x in the latest annual period.
- Credit and interest rates has repeated favorable evidence across 5 filings.
- Macroeconomic conditions has repeated favorable evidence across 5 filings.
Evidence challenging the case
- Operating margin changed -2.8 percentage points in the latest annual period.
- Net margin changed -2.7 percentage points in the latest annual period.
- Diluted shares increased 17.4% in the latest annual period.
Questions before a position
- P/E is 193% above the available filing-peer median; determine whether growth and quality justify the difference.
- EV/sales is 288% above the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 11, 2026
66.746m-12.9%12m-21.5%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-12-31$4.9B+34.1%$3.06-3.8%
2022-12-31$4.9B-0.2%$2.53-11.7%
2023-12-31$4.9B+0.1%$2.08-1.7%
2024-12-31$4.9B+0.1%$2.16+0.5%
2025-12-31$7.5B+51.6%$1.84+17.4%
What management says matters
Persistent and emerging business drivers
Macroeconomic conditionspositive · 5 filings
“These improvements were partially offset by commodity cost inflation before pricing actions.”10-Q · Aug 7, 2026 ↗
Product pipeline and R&Dmixed · 5 filings
“We expect to outperform the bedding industry as a result of our investments in new product launches and continued investments in innovation, quality, advertising and customer service.”10-Q · Aug 7, 2026 ↗
Input and raw-material costsmixed · 2 filings
“These improvements were partially offset by commodity cost inflation before pricing actions.”10-Q · Aug 7, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 1.9× · EV/sales 2.5×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
66.74+0.9% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for SGI. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment
The latest filing shows material pressure
10-Q filed 2026-08-07 against the comparable filing from 2025-08-08.
OperationscautiousEvidence score -1
liquidityneutralEvidence score 0
valuationpremium
Capital and cash conversion
Reported investment and cash context
- Capital spending YoY
- +89.8%
- Capital spending / revenue
- +3.2%
- Free-cash-flow margin
- +10.1%
- FCF margin change
- +3.5 pts
Capex, revenue, and operating cash flow are matched to the same reported duration. Reported accounting context, not a forecast or trading recommendation.
What improved
- Operating margin improved 1.5 percentage points.
What weakened
- Revenue decreased 3.0% versus the comparable filing period.
Filing receipts
“The decline in gross margin was primarily driven by commodity cost inflation before pricing actions of 100 basis points, partially offset by operational efficiencies.”
“The decrease in interest expense, net, was primarily driven by lower interest rates on outstanding variable rate debt.”
“The improvement in gross margin was primarily driven by the achievement of synergies from the Mattress Firm Acquisition of 480 basis points, elimination of intercompany sales to Mattress Firm of 290 basis points, operational efficiencies of 190 basis points and favorable mix.”
Point-in-time filing assessment published from the live pipeline.
Business ecosystem
The relationships behind SGI
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
LEGLeggett & Platt IncinvesteeMay 8, 2026 ▾
“Definitive Agreement with Leggett & Platt, Incorporated On April 13, 2026, Somnigroup International and Leggett & Platt, Incorporated ("Leggett & Platt") entered into a definitive agreement (the "Merger Agreement") for a proposed business acquisition in which…”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
SGI is currently a Participant in the organic co-movement group Economic Cyclicals. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 1 filing-linked name are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for SGI; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.