$1.68
2.8% vs S&P 12m
Business overview
Global PC leader expanding ISG (server) revenue with Neptune liquid-cooling AI systems.
Geopolitically interesting alternative for sovereign AI; ISG margins improving but PCs still dominate the P&L.
Products
- ThinkSystem Neptune
- ThinkPad
- Motorola
Customers (3)
- Enterprises
- SMB
- Consumers
Competitors (2)
- Dell
- HP Inc.
Composite score
Higher = stronger overall research case
Fundamental55
Technical71
Valuation65
AI relevance55
Risk-adjusted (higher = safer)41
Segment-relative fundamental percentile: 13
Synthetic 1Y price action
Deterministic price series; 50d (yellow) and 200d (orange) MAs shown
3M RS: 37.8%6M RS: 8.3%12M RS: 2.8%Vol30d: 43%DD52w: -1.9%
Financial summary
Curated, illustrative
Revenue
$78.47B
Growth (YoY)
18.1%
Gross margin
15.4%
Operating margin
4.3%
FCF
$754.64M
Capex
$1.94B
Net cash / (debt)
$321.92M
ROIC
3.3%
Customer conc.
Medium
Valuation
Market cap
$20.88B
Enterprise value
$20.56B
P/E (TTM)
13.8x
Forward P/E
11.2x
EV / Sales
0.3x
EV / EBITDA
5.7x
P / FCF
27.7x
PEG
1.1x
Rule of 40
—
Risks
Severity 1 (low) to 5 (severe)
- 4China geopolitical exposure
Score components
What drove the composite
Growth66
Profitability34
Cash generation31
Balance sheet79
Moat / AI relevance62
Capital intensity (higher = lighter)79
Customer diversification60
Valuation discipline (dilution)65
Trend (MA50/MA200)95
Momentum (3/6/12m)69
Relative strength54
Realized vol (higher = lower vol)50
Segment peers
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