Companies/Servers/WSTRF

WSTRF

Wistron / Wiwynn

Cyclical AI Beneficiary

Servers & rack systems·Taiwan·Taipei·#4 / 8 in segment·3.4% of segment mcap

$4.34

-3.3% vs S&P 12m

Business overview

Direct AI revenue AI infrastructure exposure

ODM with Wiwynn subsidiary supplying hyperscaler AI servers (Meta, Microsoft).

Direct beneficiary of GB200 design wins; less diversified than Quanta which amplifies AI mix.

Products

Hyperscale servers
Liquid-cooling racks

Customers (2)

Competitors (2)

Composite score

Higher = stronger overall research case

Fundamental61

Technical69

Valuation86

AI relevance76

Risk-adjusted (higher = safer)33

Segment-relative fundamental percentile: 63

Synthetic 1Y price action

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

3M RS: 0.2%6M RS: -9.5%12M RS: -3.3%Vol30d: 35%DD52w: -11.7%

Financial summary

Curated, illustrative

Revenue

$83.28B

Growth (YoY)

144.3%

Gross margin

5.6%

Operating margin

3.4%

FCF

$-8.74B

Capex

$1.95B

Net cash / (debt)

$-10.97B

ROIC

5.4%

Customer conc.

Medium

Valuation

Market cap

$13.80B

Enterprise value

$24.77B

P/E (TTM)

16.7x

Forward P/E

8.0x

EV / Sales

0.3x

EV / EBITDA

7.7x

P / FCF

—

PEG

0.9x

Rule of 40

—

Risks

Severity 1 (low) to 5 (severe)

5
Customer concentration
4
Thin margins

Score components

What drove the composite

Growth100

Profitability33

Cash generation23

Balance sheet74

Moat / AI relevance75

Capital intensity (higher = lighter)79

Customer diversification60

Valuation discipline (dilution)65

Trend (MA50/MA200)95

Momentum (3/6/12m)51

Relative strength56

Realized vol (higher = lower vol)59

Segment peers

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