Wistron
ConvictionContext
Contract design + manufacturing (ODM/EMS): builds AI-server compute boards, GPU baseboards, full liquid-cooled racks and IT products for hyperscalers, NVIDIA and OEMs on thin per-unit margins at massive scale; revenue scales with AI-server unit volume and rising per-rack ASPs.
Revenue
FY2025 NT$2.19T~$69B); Q1 2026 NT$846.3B (~$26.5BRev growth
FY2025 +108% YoYQ1 2026 +144% YoY, +17.4% QoQGross margin
~6% FY2025Q4 2025 5.62%), down as low-margin full-rack mix roseOp margin
~3.7% FY2025approx); ~3.4% Q1 2026 (op income NT$29.1B / rev NT$846.3BCapex intensity
~2%2026 capex guided NT$60B, +69% YoY from NT$35.5B, on a >NT$2T revenue baseMarket cap
~$16B USDTWSE:3231; ~NT$503B at ~NT$158/share, Jul 6 2026The read
Where our coverage leans
Coverage leans bullish
Sign in free to read the bull & bear take — Pro unlocks the full dossier.
Members only
Full financial intelligence for Wistron
Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
Not investment advice — analyst work product for a qualified professional.· intel vintage 2026-07; financials from FY2025 annual results (reported Mar 12 2026) and Q1 2026 results (reported May 8 2026); market data as of Jul 6 2026· sign in (free) for the analyst summary; Pro unlocks full intelligence