Axcelis Technologies, Inc. (ACLS) vs Ichor Holdings, Ltd. (ICHR)

Axcelis Technologies, Inc. and Ichor Holdings, Ltd. are both Semiconductor Equipment & Materials companies. Axcelis Technologies, Inc. is the larger, with a market value of $2.8B against $1.1B — 2.6× the size. Axcelis Technologies, Inc. trades at the lower P/E: 26.6× against 483×. Ichor Holdings, Ltd. grew revenue faster over the last twelve months: 15.2% against 4.35%. Axcelis Technologies, Inc. has the higher net margin (11.8% vs 0.32%) and the higher return on invested capital (8.43% vs 1.44%). Across the 21 metrics below, Axcelis Technologies, Inc. leads on 15 and Ichor Holdings, Ltd. on 6.

Valuation

Metric ACLS ICHR Semiconductor Equipment & Materials median
P/E 26.59 482.51 33.70
P/S 3.13 0.97 4.22
P/B 2.50 1.20 2.94
Price to free cash flow 46.45 n/m 31.49
EV/EBITDA 22.71 19.05 22.64
EV/Sales 2.66 0.88 4.97
Earnings yield 3.76% 0.21% 2.02%
Free cash flow yield 2.15% (7.08%) 2.27%

Profitability

Metric ACLS ICHR Semiconductor Equipment & Materials median
Gross margin 42.81% 13.26% 46.86%
Operating margin 10.31% 1.65% 12.02%
Net margin 11.75% 0.32% 10.16%
Free cash flow margin 6.73% (6.10%) 6.73%
Return on equity 9.80% 0.45% 5.31%
Return on assets 7.39% 0.32% 4.10%
Return on invested capital 8.43% 1.44% 6.36%

Growth

Metric ACLS ICHR Semiconductor Equipment & Materials median
Revenue growth (TTM) 4.35% 15.23% 15.82%
EPS growth (last fiscal year) (38.21%) (140.63%) (4.56%)
Revenue growth, 5-year CAGR 12.07% 0.72% 10.11%
Net income growth, 5-year CAGR 19.19% 0.00% 0.00%

Health

Metric ACLS ICHR Semiconductor Equipment & Materials median
Debt to equity 0.04 0.13 0.09
Current ratio 4.43 3.56 3.56
Net debt to EBITDA (2.51) (4.73) (0.49)

Dividend

Metric ACLS ICHR Semiconductor Equipment & Materials median
Dividend yield — — 0.59%
Payout ratio — — 0.16

Size

Metric ACLS ICHR Semiconductor Equipment & Materials median
Market cap 2.78b 1.05b 3.04b

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