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2356

英業達 Computer & Peripherals As of 2026-06-17 Updated daily after market close

quality needs a look, fair valuation.

1 active signal
Revenue ≥20%
This page refreshes daily after the close. Add 英業達 to your watchlist to track signal changes on your next visit.
Valuation 44Quality 51Growth 77Momentum 85Chips 29

Is 英業達 a buy? Fundamentals and valuation first

  • Weak profitability.Operating margin is in the 33th market percentile. Latest quarterly ROE ≈ 3.2%.

  • Valuation is neutral.PE is in the 55th market percentile; within its own history, PE is around the 92th percentile.

  • Foreign investors are net selling.Foreign 20-day net flow ≈ -1.2% of volume (net sell).

  • Strong revenue growth.Latest monthly revenue YoY ≈ 35.3%, above the 20% growth threshold.

  • Signals are active now.On the latest data, signals such as Revenue YoY ≥ 20% are active — see the historical forward returns after each occurrence below.

Chip flow

Bullish +0.59
BearishNeutralBullish

Single-sided accumulation, concentration rising — bullish

  • Single-sided accumulation, concentration rising — bullish
  • 美商高盛 holds 65,550 lots
  • sellers have 57,119 lots left, ~637 sessions to clear

Window from 2026-01-17 · Price +51% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 美商高盛 has accumulated 65,550 lots since the start (sold 4%), still adding.
  • Main distributor 摩根大通 peaked at 50,677 lots, has sold 50%, 25,504 left, ~20 sessions to clear at the recent pace.
  • TDCC big holders (absolute) >1000-lot holders +4.30pp, mid holders +54, retail -4.71pp — concentration shifting upward.
  • Foreign hedge-desk net short Net short -1,789 lots (inferred from branch profile, mostly hedging — not necessarily bearish, not case-confirmed).
Branch inventory reconstruction
Accumulating holders Branches that accumulated shares during the window and still hold positive inventory; they are the absorbing side.
Distributing sellers Branches that built inventory earlier and have been selling it down; the remaining number estimates what has not cleared.
Net-short desks Trading-desk branches with negative inventory or net selling, often hedge, offsetting, or short-term flow. It is not automatically a bearish view.
Accumulating
美商高盛元大證券富邦證券港商麥格理香港上海匯豐國泰證券
Distributing
摩根大通台灣摩根士丹利凱基-台北新加坡商瑞銀美林花旗環球
Desks
own scale
凱基-士林群益金鼎-古亭玉山證券合庫-自強
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 美商高盛 +65,550
    sold 4%· still adding
  • 元大證券 +32,693
    sold 3%
  • 富邦證券 +28,011
    sold 11%
  • 港商麥格理 +16,466
    sold 0%· still adding
  • 香港上海匯豐 +7,899
    sold 0%· still adding
  • 國泰證券 +7,740
    sold 16%

Distributing

  • 摩根大通 25,504 left
    sold 50%· ~20 sessions to clear
  • 台灣摩根士丹利 11,420 left
    sold 75%· ~28 sessions to clear
  • 凱基-台北 22,385 left
    sold 34%· paused recently
  • 新加坡商瑞銀 6,250 left
    sold 78%· ~49 sessions to clear
  • 美林 6,042 left
    sold 54%· ~23 sessions to clear
  • 花旗環球 3,612 left
    sold 44%· ~20 sessions to clear

Desks

  • 凱基-士林 -18,789
    unclassified
  • 群益金鼎-古亭 -11,264
    unclassified
  • 玉山證券 -8,652
    unclassified
  • 合庫-自強 -6,614
    unclassified
Still selling 57,119 lots ~637 sessions to bottom at most
Recent buy/sell force +25,747 absorbed / -26,788 sold sellers slightly ahead
Hedge-desk net short -1,681 lots potential cover-buying, not selling pressure
TDCC big holders · absolute-holding cross-check
>1000-lot holder share Retail (<400 lots) share Price (right axis)

Direction matches: big-holder share rose while retail share fell.

Describes chip flow, not investment advice. Branch data discloses only high-volume branches with ~1-day lag; TDCC is weekly. Inventory is a relative reconstruction from the window start, not absolute holdings.

Historical evidence

Signals active now

These signals are true on the latest data, with this stock's own historical forward-return stats after each occurrence.

Monthly revenue YoY ≥ 20% (from filing deadline)

Active · now 35.3%

Monthly revenue YoY ≥ 20%; event date is the first trading day after the filing deadline (no look-ahead).

64 historical occurrences (since 2007-04-23)
Average forward return after Monthly revenue YoY ≥ 20% (from filing deadline)。20-day: Win 53.3%, Sample 45, Median +0.85%, Excess -0.01%, Beat mkt rate 53.3%；60-day: Win 51.2%, Sample 43, Median +0.19%, Excess -1.64%, Beat mkt rate 39.5%；120-day: Win 45.2%, Sample 42, Median -0.48%, Excess -2.03%, Beat mkt rate 35.7%

120 days after: historical avg +2.37%

20-day +0.62%
60-day +0.24%
120-day +2.37%
20-day
60-day
120-day
Win
53.3%
51.2%
45.2%
Sample
45
43
42
Median
+0.85%
+0.19%
-0.48%
Excess
-0.01%
-1.64%
-2.03%
Beat mkt rate
53.3%
39.5%
35.7%

Over 42 occurrences, 120-day forward avg gained 2.37%, lagged the market by 2.03 pts; win rate 45.2%.

Valuation regime and subsequent returns

Each day's PE is converted to its own-history percentile (as of that day), then we look at adjusted-close returns over the next 240 trading days by valuation regime.

PE percentile bandSample days240-day avg returnMedianWin rateAvg excess (vs index)
0-20 299+27.6% +20% 80.9% +14.5%
20-40 382+35.6% +12.3% 87.4% +22.3%
40-60 815+22.1% +7.1% 76% +11.3%
60-80 619+23.1% +9.9% 87.9% +5.8%
80-100 You are here921+4.7% -0.1% 49.7% -18.8%

Percentiles use an expanding own-history window (no look-ahead); forward return is 240 trading days on adjusted close. Sample days overlap; distribution is indicative only.

Current PE ≈ 25.67, at the 91.7th percentile of its own history (80-100 band).

Valuation × momentum historical grid

Every day in its own history is bucketed by valuation tercile (own-history PE) and 60-day momentum sign into six cells; we show adjusted-close returns over the next 120 trading days per cell.

Valuation
Momentum
Cheap (own-history bottom 1/3)
Mid
Expensive (own-history top 1/3)
60-day momentum up
+14.8%
Win rate 79.4% Excess +7.4%
214d
+11.4%
Win rate 45.3% Excess +6.4%
675d
Now
+9.2%
Win rate 53.5% Excess -2.3%
978d
60-day momentum down
+20.3%
Win rate 89.5% Excess +11.1%
333d
+11.1%
Win rate 70.3% Excess +7.3%
468d
+6.1%
Win rate 67.4% Excess -5.4%
488d

Currently in “Expensive (own-history top 1/3) × 60-day momentum up”: across 978 historical days, 120-day forward avg gained 9.2%, win rate 53.5%, lagged the market by 2.3%.

Days = trading days in this bucket; returns use adjusted prices, ex-costs. 60-day momentum: direction of this stock's price over the past 60 trading days.

Does this signal hold up across the market

Over the past 242 months, on average ~404 stocks per month met “monthly revenue YoY ≥ 20%”; their adjusted-close return over the next 60 trading days averaged 6.94% (equal-weighted), beating the market by 2.37 points on average, and outperformed the TAIEX total-return index in 64.5% of months.

Each month, equal-weighted 60-day forward adjusted return of all signal-matching stocks, then averaged across months; excess vs the TAIEX total-return index.

Signals not active (historical stats for reference)

These are not occurring now; historical samples shown for comparison.

252-day price high (breakout)

Pending

Adjusted close makes a new 252-day high; repeats within 20 days counted once.

23 times historically; 60-day forward avg +4.84%, win rate 50%, beating the market by +1.04 pts on average.

Foreign net buying for 5 straight days

Pending

Foreign net flow (ex-dealer) positive for 5 straight days; event on day 5; repeats within 20 days counted once.

62 times historically; 60-day forward avg +6.96%, win rate 56.7%, beating the market by +1.98 pts on average.

What does 英業達 do? Company profile

電腦及週邊設備業 台灣證券交易所上市

Overview

英業達為台灣上市普通股，股票代號2356，成立於1975年6月9日，掛牌上市日期為1996年11月13日，總部位於台北市士林區後港街66號。董事長為葉力誠，總經理為蔡枝安，發言人為游進寶。實收資本額為新台幣35,874,750,660元，已發行普通股3,587,475,066股。2025年年報揭露截至2026年3月31日集團從業人員合計35,534人；2025年度從業人員合計34,712人。2025年合併營收約新台幣6,911億元，合併營業利益約127億元，歸屬母公司稅後淨利約86億元，EPS 2.42元。主要股東依2026年3月29日資料包括葉國一4.92%、元大台灣高股息證券投資信託基金專戶4.39%、國泰台灣ESG永續高股息ETF證券投資信託基金4.36%、來春投資3.81%、世訊投資3.64%、富代投資3.53%、國協投資3.53%、葉力誠3.27%、李詩欽3.23%、葉力銓2.60%。

Business

英業達為電子產品ODM/OEM製造與研發公司，主要營業項目為電腦及智能終端產品之生產及銷售。2025年合併營業比重為電腦產品99.07%、勞務收入0.17%、其他0.76%。產品線包括個人資訊產品如筆記型電腦、電競筆電、掌機、桌機、一體機、精簡型電腦、擴充埠、電壓交換器與無線傳輸；企業解決方案如伺服器、儲存設備、交換器、AI解決方案、機櫃解決方案與網路解決方案；物聯網、串流、智能終端與智慧醫療產品如無線喇叭、耳機、智能穿戴、智慧安防、多功能平板、智慧城市、車隊管理、家庭醫療照護、醫院智慧設備與AI醫療解決方案；車用電子與5G解決方案如智慧網聯、區域化解決方案、車載運算、遠端資訊處理、車載娛樂、觸控式儀表板模組、5G模組、固定無線存取與WiFi 7路由器。商業模式以客戶委託設計、製造、系統整合、測試、全球交付與售後支援為主。2025年年報揭露主要銷貨客戶以匿名方式列示，A公司占銷貨淨額50%、B公司占14%、其他36%，顯示客戶集中度偏高；年報未揭露客戶真實名稱。

Outlook 2025–2028

2025年英業達受惠Windows 10終止支援帶動換機潮、零組件漲價前拉貨、雲端客戶產品動能與AI伺服器訂單擴大，營收創高。2026年公司展望以AI伺服器、雲端資料中心、液冷散熱、AI PC、車用電子、智能終端與智慧醫療為主要動能。年報指出全球資料中心投資仍升溫，CSP與Neoclouds新興客戶商機將帶動伺服器業務占比與獲利空間提升；公司短期計畫包括AI、雲端與HPC新平台布局、產能擴充、液冷技術導入、整機整合能力提升，以及捷克、泰國、越南、墨西哥與美國產能配置優化。媒體報導指出2026年AI伺服器業務可望雙位數成長，ASIC伺服器出貨占比有望由2025年約四成提升至逾五成，並規劃美國、墨西哥、泰國等地投資以因應需求。2027至2028年屬推估：若生成式AI、主權AI、雲端資料中心與液冷機櫃級系統需求延續，伺服器與AI基礎建設仍可能是中期成長核心；AI PC滲透率提高、車用電子中央運算平台與區域控制器、智慧醫療與AIoT也可能形成第二成長曲線。主要風險包括高階晶片、記憶體、Power IC與HBM等關鍵零組件供應吃緊及漲價，地緣政治、關稅、出口管制、供應鏈區域化導致成本上升，ODM同業價格與資本支出競爭，伺服器L10/L11整機或機櫃出貨比重提高可能稀釋毛利率，客戶集中度高，以及ESG、碳稅、資安與AI法遵要求提高。

Supply Chain

Upstream
  • Intel 年報列為中央處理器CPU主要供應商之一；美國上市公司，非台股掛牌。
  • AMD 年報列為中央處理器CPU主要供應商之一；美國上市公司，非台股掛牌。
  • 友達光電 2409 年報列為液晶顯示器面板主要供應商之一，屬台股上市公司。
  • 群創光電 3481 年報列為液晶顯示器面板主要供應商之一，屬台股上市公司。
  • BOE 京東方科技 年報列為液晶顯示器面板主要供應商之一；中國大陸上市公司，非台股掛牌。
  • SK hynix 年報列為SSD主要供應商之一；韓國上市公司，非台股掛牌。
  • Samsung Electronics 年報列為SSD主要供應商之一；韓國上市公司，非台股掛牌。
  • Kioxia 年報列為SSD主要供應商之一；日本公司，非台股掛牌。
Downstream
  • A公司（年報匿名客戶） 2025年年報揭露之最大銷貨客戶，占2025年銷貨淨額50%，與英業達為非關係人；公司未揭露真實名稱。
  • B公司（年報匿名客戶） 2025年年報揭露之第二大銷貨客戶，占2025年銷貨淨額14%，與英業達為非關係人；公司未揭露真實名稱。
  • 雲端服務供應商與Neoclouds客戶 年報稱CSP及Neoclouds新興客戶商機將帶動伺服器業務成長；多數可能為海外雲端或資料中心客戶，年報未具名。
  • 品牌筆電與消費電子客戶 英業達以ODM/OEM模式供應筆記型電腦、電競筆電、智能終端等產品；具體客戶多未公開揭露。
  • Tier-1車用供應商與車廠 年報指出車用電子新興事業積極投入與Tier-1供應商或車廠合作；具體客戶未公開揭露。

Competitors

Sources（12）

This company profile is compiled from public sources (annual reports, filings, news and analyst reports), not finlab backtest data; the 2025–2028 outlook contains forward-looking estimates and is for reference only.

Method and limitations

  • All returns use adjusted close (etl:adj_close), already adjusted for dividends and splits.
  • Excess return is measured against the TAIEX total-return index (dividends included).
  • Valuation regime and percentile stats use an expanding own-history window (no future data).
  • Revenue-signal event dates align to the first trading day after the filing deadline, avoiding look-ahead.
  • Event samples may overlap in time; stats describe historical distribution only and are less reliable when samples are few.

This page is historical statistics for educational purposes and is not investment advice. Investing involves risk; past performance does not indicate future results. Assess and bear the risk yourself before trading.