AVerMedia / Avnet (AVC)
ConvictionContext
B2B contract design + manufacturing of thermal modules (air + liquid cooling) sold to server ODMs/OEMs and hyperscalers; volume-driven, capacity-intensive, tied to the Nvidia AI-accelerator roadmap.
Revenue
~$4.78B USDTWD 139.64B, FY2025Rev growth
+94.6% YoYFY2025 vs TWD 71.76B FY2024Gross margin
~25% FY202526.4% in Q4 2025Op margin
~19%9M 2025: op income TWD 17.54B / rev TWD 91.86BCapex intensity
Elevated — major cold-plate/manifold/chassis capacity build-out across TaiwanChina and Vietnam through 2026 (precise figure not disclosed in sources reviewedMarket cap
~$37B USDTWSE: 3017; ~TWD 1.08T, Jul 2026The read
Where our coverage leans
Coverage leans bullish
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Full financial intelligence for AVerMedia / Avnet (AVC)
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· sign in (free) for the analyst summary; Pro unlocks full intelligence