Axcelis Technologies, Inc. (ACLS) vs Ultra Clean Holdings, Inc. (UCTT)

Axcelis Technologies, Inc. and Ultra Clean Holdings, Inc. are both Semiconductor Equipment & Materials companies. Axcelis Technologies, Inc. and Ultra Clean Holdings, Inc. are of similar size ($3.6B and $3.5B). Ultra Clean Holdings, Inc. has negative trailing earnings, so its P/E is not meaningful; Axcelis Technologies, Inc. trades at 41.0×. Ultra Clean Holdings, Inc. grew revenue faster over the last twelve months: 2.52% against −3.35%. Axcelis Technologies, Inc. has the higher net margin (10.7% vs −1.07%) and the higher return on invested capital (7.94% vs 3.68%). Across the 20 metrics below, Axcelis Technologies, Inc. leads on 16 and Ultra Clean Holdings, Inc. on 4.

Valuation

Metric ACLS UCTT Semiconductor Equipment & Materials median
P/E 41.04 n/m 54.39
P/S 4.38 1.60 6.08
P/B 3.56 4.89 4.89
Price to free cash flow 57.85 n/m 60.92
EV/EBITDA 33.07 27.09 39.95
EV/Sales 3.98 1.76 6.36
Earnings yield 2.44% (0.67%) 1.14%
Free cash flow yield 1.73% (3.23%) 1.28%

Profitability

Metric ACLS UCTT Semiconductor Equipment & Materials median
Gross margin 43.01% 15.83% 43.95%
Operating margin 10.32% 2.84% 10.32%
Net margin 10.71% (1.07%) 7.45%
Free cash flow margin 7.57% (5.15%) 6.77%
Return on equity 8.89% (3.11%) 4.78%
Return on assets 6.85% (1.28%) 3.62%
Return on invested capital 7.94% 3.68% 6.10%

Growth

Metric ACLS UCTT Semiconductor Equipment & Materials median
Revenue growth (TTM) (3.35%) 2.52% 14.60%
EPS growth (last fiscal year) (38.21%) (869.23%) —
Revenue growth, 5-year CAGR 12.07% 7.99% 8.85%
Net income growth, 5-year CAGR 19.19% 0.00% 0.00%

Health

Metric ACLS UCTT Semiconductor Equipment & Materials median
Debt to equity 0.04 0.84 0.09
Current ratio 4.90 2.73 3.66
Net debt to EBITDA (2.51) 1.35 (0.49)

Dividend

Metric ACLS UCTT Semiconductor Equipment & Materials median
Dividend yield — — 0.85%
Payout ratio 0.00 0.00 0.00

Size

Metric ACLS UCTT Semiconductor Equipment & Materials median
Market cap 3.59b 3.52b 4.63b

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