IEI Integration Corporation (3022) AI Stock Analysis

IEI Integration Corporation

(TWSE:3022)

Select Model

Rating:62Neutral

Price Target:TWD 80.00▲(9.29% Upside)

Action:initiatedcoverage

Date:11/10/26

The score is constrained primarily by deteriorating profitability and cash generation, together with weak technical momentum. The exceptionally strong balance sheet, low P/E ratio, and attractive dividend yield provide meaningful support.

Positive Factors

Conservative Balance SheetDebt is only ~13.6M against ~11.2B of equity, giving the company substantial financial resilience. Minimal leverage reduces refinancing and interest pressure, preserves capacity to fund product development, and helps absorb cyclical industrial-computing demand without relying heavily on external capital.

Negative Factors

Multi-Year Revenue DeclineSeveral consecutive years of revenue contraction indicate that demand or market execution has not yet returned to sustained growth. Continued top-line weakness can reduce operating leverage, limit reinvestment capacity, and make it harder for the company to translate its broad portfolio into durable earnings expansion.

IEI Integration Corporation (3022) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 12.89B
Dividend Yield: 4.78%
Average Volume (3M): 1.46M
Price to Earnings (P/E): 9.7
Beta (1Y): 0.83
Revenue Growth: 26.50%
EPS Growth: 43.52%
Country: TW
Employees: 3,873
Sector: General
Sector Strength: 55
Industry: Computer Hardware

IEI Integration Corporation Business Overview & Revenue Model

Company Description

IEI Integration Corp. provides industrial computer products worldwide. It offers AIoT and edge computing products, comprising AI developer kits, time-sensitive networking, TPU, VPU, and FPGA AI accelerators, AI embedded systems, and IEI devcloud; net...

IEI Integration Corporation Financial Statement Overview

Summary

The company has an exceptionally strong balance sheet and remains profitable, but declining revenue, compressed margins, lower net income, weaker operating cash flow, and negative free cash flow materially reduce the score.

Income Statement

58Neutral

Balance Sheet

93Very Positive

Cash Flow

35Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	7.16B	6.51B	6.84B	7.58B	7.94B	6.24B
Gross Profit	2.16B	2.18B	2.41B	2.81B	2.88B	2.09B
EBITDA	892.32M	727.06M	1.82B	1.63B	2.04B	1.16B
Net Income	1.33B	817.49M	1.54B	1.38B	1.49B	865.95M
Balance Sheet
Total Assets	17.11B	15.12B	14.98B	14.32B	13.37B	11.60B
Cash, Cash Equivalents and Short-Term Investments	5.38B	6.10B	7.54B	7.23B	6.00B	3.83B
Total Debt	127.13M	13.60M	3.01M	187.78M	21.37M	11.62M
Total Liabilities	5.48B	3.74B	3.78B	4.22B	4.14B	3.56B
Stockholders Equity	11.41B	11.19B	11.04B	10.09B	9.23B	8.04B
Cash Flow
Free Cash Flow	-1.24B	-357.18M	604.83M	1.39B	1.39B	542.49M
Operating Cash Flow	-640.38M	481.13M	735.48M	1.50B	1.60B	715.64M
Investing Cash Flow	-602.17M	-519.61M	-1.86B	-408.53M	-444.42M	652.76M
Financing Cash Flow	-686.82M	-801.77M	-753.87M	-452.22M	-541.33M	-362.72M

IEI Integration Corporation Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:3022 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:8114	72Outperform	TWD 11.74B	11.57	―	7.47%	-17.73%	-35.11%
TW:3416	69Neutral	TWD 12.38B	16.15	―	3.16%	31.00%	32.07%
TW:3088	67Neutral	TWD 12.32B	12.47	―	2.69%	35.40%	73.91%
TW:6245	64Neutral	TWD 12.61B	19.61	―	4.39%	11.74%	8.17%
TW:3022	62Neutral	TWD 12.93B	9.75	―	4.78%	26.50%	43.52%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:3701	50Neutral	TWD 13.61B	-23.38	―	0.35%	-27.54%	-440.84%

* General Sector Average

Performance Comparison

TW:3022 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:3022	IEI Integration Corporation	73.20	6.51	9.76%
TW:3088	Axiomtek Co Ltd	109.00	33.43	44.24%
TW:3416	Winmate Inc.	146.50	6.60	4.72%
TW:3701	FIC Global, Inc.	57.50	24.30	73.19%
TW:6245	Lanner Electronics Inc.	86.60	16.42	23.40%
TW:8114	Posiflex Technology Inc.	153.50	-26.52	-14.73%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Nov 10, 2026

IEI Integration Corporation AI Stock Analysis