Companies/Servers/IVNCF

IVNCF

Inventec

Cyclical AI Beneficiary

Servers & rack systems·Taiwan·Taipei·#6 / 8 in segment·1.5% of segment mcap

$1.68

0.3% vs S&P 12m

Business overview

Direct AI revenue

ODM supplying L10 AI server systems primarily to AWS and other hyperscalers.

Most leveraged Taiwanese ODM by AI mix; share gains at AWS Trainium racks are the upside catalyst.

Products

AI L10 servers
Notebook ODM

Customers (2)

AWS
Hyperscalers

Competitors (2)

Composite score

Higher = stronger overall research case

Fundamental59

Technical72

Valuation50

AI relevance70

Risk-adjusted (higher = safer)41

Segment-relative fundamental percentile: 38

Synthetic 1Y price action

Deterministic price series; 50d (yellow) and 200d (orange) MAs shown

3M RS: 15.2%6M RS: 16.4%12M RS: 0.3%Vol30d: 38%DD52w: 0.0%

Financial summary

Curated, illustrative

Revenue

$22.77B

Growth (YoY)

27.6%

Gross margin

5.1%

Operating margin

1.8%

FCF

$171.89M

Capex

$166.86M

Net cash / (debt)

$-1.32B

ROIC

2.2%

Customer conc.

Medium

Valuation

Market cap

$6.02B

Enterprise value

$7.33B

P/E (TTM)

22.4x

Forward P/E

15.6x

EV / Sales

0.3x

EV / EBITDA

14.2x

P / FCF

35.0x

PEG

0.7x

Rule of 40

—

Risks

Severity 1 (low) to 5 (severe)

4
Customer concentration

Score components

What drove the composite

Growth82

Profitability31

Cash generation30

Balance sheet77

Moat / AI relevance75

Capital intensity (higher = lighter)82

Customer diversification60

Valuation discipline (dilution)65

Trend (MA50/MA200)95

Momentum (3/6/12m)70

Relative strength50

Realized vol (higher = lower vol)55

Segment peers

Other companies in Servers

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