$114.40
557.6% vs S&P 12m
Business overview
Leading supplier of ABF substrates used in CoWoS and high-end CPU/GPU packaging.
Substrate supply has been a recurring binding constraint on AI accelerator output; Ibiden's expansions directly shape NVIDIA/AMD volumes.
Composite score
Higher = stronger overall research case
Fundamental53
Technical81
Valuation21
AI relevance62
Risk-adjusted (higher = safer)49
Segment-relative fundamental percentile: 50
Synthetic 1Y price action
Deterministic price series; 50d (yellow) and 200d (orange) MAs shown
3M RS: 98.6%6M RS: 162.9%12M RS: 557.6%Vol30d: 99%DD52w: 0.0%
Financial summary
Curated, illustrative
Revenue
$2.66B
Growth (YoY)
18.6%
Gross margin
31.6%
Operating margin
14.1%
FCF
$-304.09M
Capex
$985.10M
Net cash / (debt)
$660.12M
ROIC
3.6%
Customer conc.
Medium
Valuation
Market cap
$31.95B
Enterprise value
$31.29B
P/E (TTM)
83.4x
Forward P/E
57.9x
EV / Sales
11.7x
EV / EBITDA
39.3x
P / FCF
—
PEG
0.5x
Rule of 40
—
Risks
Severity 1 (low) to 5 (severe)
- 4Capex-heavy expansion
- 3Customer concentration
Score components
What drove the composite
Growth67
Profitability51
Cash generation22
Balance sheet85
Moat / AI relevance62
Capital intensity (higher = lighter)22
Customer diversification60
Valuation discipline (dilution)65
Trend (MA50/MA200)95
Momentum (3/6/12m)80
Relative strength100
Realized vol (higher = lower vol)21
Segment peers
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