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. is the larger, with a market value of $2.8B against $1.8B — 1.6× the size. Axcelis Technologies, Inc. trades at the lower P/E: 26.6× against 60.9×. Ultra Clean Holdings, Inc. grew revenue faster over the last twelve months: 15.8% against 4.35%. Axcelis Technologies, Inc. has the higher net margin (11.8% vs 1.09%) and the higher return on invested capital (8.43% vs 5.60%). Across the 21 metrics below, Axcelis Technologies, Inc. leads on 16 and Ultra Clean Holdings, Inc. on 5.

Valuation

Metric ACLS UCTT Semiconductor Equipment & Materials median
P/E 26.59 60.90 33.70
P/S 3.13 0.70 4.22
P/B 2.50 2.10 2.94
Price to free cash flow 46.45 n/m 31.49
EV/EBITDA 22.71 11.22 22.64
EV/Sales 2.66 0.85 4.97
Earnings yield 3.76% 1.64% 2.02%
Free cash flow yield 2.15% (9.77%) 2.27%

Profitability

Metric ACLS UCTT Semiconductor Equipment & Materials median
Gross margin 42.81% 16.11% 46.86%
Operating margin 10.31% 4.32% 12.02%
Net margin 11.75% 1.09% 10.16%
Free cash flow margin 6.73% (6.84%) 6.73%
Return on equity 9.80% 3.34% 5.31%
Return on assets 7.39% 1.39% 4.10%
Return on invested capital 8.43% 5.60% 6.36%

Growth

Metric ACLS UCTT Semiconductor Equipment & Materials median
Revenue growth (TTM) 4.35% 15.79% 15.82%
EPS growth (last fiscal year) (38.21%) (869.23%) (4.56%)
Revenue growth, 5-year CAGR 12.07% 7.99% 10.11%
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 0.78 0.09
Current ratio 4.43 2.79 3.56
Net debt to EBITDA (2.51) 1.35 (0.49)

Dividend

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

Size

Metric ACLS UCTT Semiconductor Equipment & Materials median
Market cap 2.78b 1.78b 3.04b

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