A freight mattress maker is worth about $1 billion and it has a market cap of about $3 billion, according to a report released Monday.

The report by the investment bank Morgan Stanley said the firm, American Freight, is valued at about $2 billion, with about $600 million in revenue and $700 million in net income.

It says the firm has raised more than $400 million from investors and is expanding its portfolio of products, such as mattress-making machines, to provide more services for its customers.