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← CockpitCompetitor Analysis › 2356.TW Inventec CorporationOpen in the cockpit ↗

Inventec Corporation2356.TWCompetitor analysis, valuation and peers

Taiwan · TWD·Information Technology›Computer Processing Hardware

Taiwanese ODM maker of laptops, servers and AI server hardware for global brands.

≈ A Taiwan EMS/server-ODM peer of Super Micro's contract-manufacturing baseMomentum strong 60
Competitor Analysis ▸ ChartsOpen in the cockpit
Mkt cap
$5.71B
US dollars, full cap
Free float
70%
of shares outstanding
$/day
$30.7M
20-day average traded
Fwd P/E
13.2×
forward earnings
ROIC−WACC
+2.7 pp
WACC 5.0%
Hurdle
n/a
no reverse DCF
Close · TWDNT$52.60
1D-4.4%
1W-11.6%
1M-9.8%
3M-20.3%
6M+12.0%
YTD+22.6%
1Y+15.9%
ATR %4.6%
52w lowhigh40.6% off high

What Inventec does

Taiwanese ODM maker of laptops, servers and AI server hardware for global brands.

Designs and builds laptops and servers under other companies' brands, paid per unit with component costs largely passed through, so margins are thin and swing with the product mix. Servers, including AI servers sold to cloud companies, are the growing line while notebooks are the older base.

In one line: A Taiwan EMS/server-ODM peer of Super Micro's contract-manufacturing base.

Products and services

  • Notebook PC ODM
  • Server/AI server ODM
  • Handheld/other electronics ODM

Customers

  • HP
  • Dell
  • AI/cloud server customers (e.g., Nvidia ecosystem)

Where it sits in the supply chain

  • Information technology
  • Electronics manufacturing services
  • Notebook & server ODM

What could go right

  • AI/cloud server demand

What could go wrong

  • Customer concentration
  • Thin ODM margins

Moat: narrow (scale, switching costs). Long-standing ODM qualification with PC/server brands; margins remain thin.

Headquarters: Taipei, Taiwan · Founded: 1975 · Employees: 34,712

Named competitors

Inventec at a glance

Size Inventec (2356.TW) is a Taiwan Information Technology company (Computer Processing Hardware) with a market value of $5.71B, the 83rd largest of 687 Taiwan companies the cockpit tracks. Shares closed at NT$52.60 on 6 Nov 2026.

Performance Over six months the shares gained 12.0%, against -7.9% for the median peer and -3.4% for the Taiwan market (cap-weighted) — 6th highest of 19 in its peer set.

Growth Revenue grew 16.0% over the last twelve months (peer median +14.6%); the operating margin is 1.7% (peer median 2.6%).

Valuation It trades at 13.2× forward earnings against a peer median of 14.3× (8th cheapest of 16).

Capital Return on invested capital runs 2.7 points above its cost of capital (5.0% WACC).

Relative performance

10012515017511 May 202611 Aug 20266 Nov 20262356.TW 107Peer median 91
Six months, rebased to 100: Inventec against the median of its 20 peers (local-currency closes).

Inventec financials

Reported figures in TWD; fiscal year ends 2025-12-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
RevenueNT$818BNT$691BNT$646BNT$515BNT$542B
Revenue growth—+7%+26%-5%—
Gross profitNT$37.5BNT$34.9BNT$31.8BNT$24.8BNT$24.7B
EBITDANT$19.2BNT$17.2BNT$15.8BNT$11.0BNT$9.57B
Net incomeNT$11.1BNT$8.70BNT$7.27BNT$6.13BNT$6.13B
Free cash flow-NT$16.6BNT$6.46B-NT$12.6BNT$6.45BNT$17.3B
Capital expenditureNT$16.6BNT$10.4BNT$6.68BNT$6.22BNT$6.07B
Total debtNT$125BNT$89.3BNT$76.5BNT$51.0BNT$63.2B

Quarterly statements and history in the cockpit →

Inventec competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

-40%-20%0%+20%+40%-20%0%+20%00006668878100284149382324QBTSRGTINATLV0337063008570009772353002241IONQ300773239530052356.TW6-month return →1-month return →
Up and to the right = strong over both horizons. Inventec is the large dot.

Fundamentals: revenue growth against valuation

0%+50%+100%25×50×75×168800006600284149382324NATLV033706300857000977235300224123952356.TWRevenue growth (TTM) →Forward P/E →
Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Inventec is the large dot.

Inventec competitors and peer comparison

Head to head with its named competitors (2356.TW vs 2382.TW vs 3231.TW vs 2324.TW)
CompanyMarket cap6M returnRevenue growthOp. marginForward P/EReq g
Inventec 2356.TW$5.71B+12%+16%2%13.2×n/a
Quanta Computer 2382.TW$36.0B-10%+63%3%10.1×n/a
Wistron 3231.TW$16.3B+13%+107%4%8.1×n/a
Compal Electronics 2324.TW$4.15B+8%-4%1%12.9×n/a

How Inventec compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Inventec against its 20 peers (data as of 6 Nov 2026)
Measure2356.TWPeer medianRank in peer set
1-month return-9.8%-10.8%11th highest of 21
6-month return+12.0%-7.9%6th highest of 19
Distance from 52-week high-40.6%-35.6%9th lowest of 21
Revenue growth (TTM)+16.0%+14.6%10th highest of 20
Operating margin1.7%2.6%8th lowest of 20
Forward P/E13.2×14.3×8th cheapest of 16
ROIC minus cost of capital+2.7 pp-0.2 pp7th highest of 19
Net debt / EBITDA3.5×0.3×most indebted of 9

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthOp. marginForward P/EReq gDelivered g
Inventec 2356.TWTaiwan$5.71B+12%+16%2%13.2×n/an/a
Lingyi iTech (Guangdong) 1688.HKHong Kong$5.75Bn/a+14%6%12.6×n/an/a
China Greatwall Technology 000066.SZChina$5.40B-42%+28%-1%81.7×n/an/a
SeeYA Technology 688781.SSChina$7.11B+17%n/an/an/an/an/a
Guangzhou Shiyuan Electronic Technology 002841.SZChina$4.37B+13%+35%8%11.2×-2.7%+7.3%
Pegatron 4938.TWTaiwan$7.52B+14%-6%1%13.1×n/an/a
Compal Electronics 2324.TWTaiwan$4.15B+8%-4%1%12.9×n/an/a
QBTS QBTSUnited States$4.05B-25%-44%-1,373%n/an/an/a
RGTI RGTIUnited States$3.92B-38%+68%-728%n/an/an/a
NCR Atleos NATLUnited States$3.49B+7%+2%14%9.6×-9.2%+1.8%
Quantinuum QNTUnited States$9.89Bn/a+35%-644%n/an/an/a
Venture V03.SISingapore$3.22B-21%+1%10%16.4×-1.3%-3.4%
MiTAC 3706.TWTaiwan$2.98B-16%+44%4%8.8×n/an/a
Sharetronic Data Technology 300857.SZChina$11.4B-40%+127%21%39.5×n/an/a
IEIT SYSTEMS Co., Ltd.Class A 000977.SZChina$12.1B-21%+14%3%14.3×7.7%+21.2%
Acer 2353.TWTaiwan$2.63B+4%+15%2%16.4×n/an/a
GoerTek 002241.SZChina$13.1B0%-3%2%25.5×n/an/a
IonQ IONQUnited States$14.0B-34%+371%-392%n/an/an/a
Lakala Payment 300773.SZChina$2.32B-25%+17%4%17.4×14.2%0.0%
Advantech 2395.TWTaiwan$14.5B+39%+40%19%22.5×9.5%+6.8%
Getac 3005.TWTaiwan$2.20B+19%+9%15%12.1×-7.0%+7.2%

Questions

Who are Inventec's main competitors?
Named competitors: Quanta Computer (2382.TW), Wistron (3231.TW), Compal Electronics (2324.TW). The cockpit's measured peer set (industry) also includes Lingyi iTech (Guangdong) (1688.HK), China Greatwall Technology (000066.SZ), SeeYA Technology (688781.SS), Guangzhou Shiyuan Electronic Technology (002841.SZ), Pegatron (4938.TW), Compal Electronics (2324.TW).
Is Inventec expensive compared with its peers?
On forward p/e it trades at 13.2× against a peer median of 14.3×, 8th cheapest of 16 in its peer set.
How has Inventec stock performed?
Over six months to 6 Nov 2026 the shares returned +12.0% against -7.9% for the median peer; over one year +15.9%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.