Aehr Test Systems (AEHR) vs Ultra Clean Holdings, Inc. (UCTT)

Aehr Test Systems and Ultra Clean Holdings, Inc. are both Semiconductor Equipment & Materials companies. Ultra Clean Holdings, Inc. is the larger, with a market value of $1.8B against $1.6B — 1.1× the size. Aehr Test Systems has negative trailing earnings, so its P/E is not meaningful; Ultra Clean Holdings, Inc. trades at 60.9×. Ultra Clean Holdings, Inc. grew revenue faster over the last twelve months: 15.8% against −15.2%. Ultra Clean Holdings, Inc. has the higher net margin (1.09% vs −14.3%) and the higher return on invested capital (5.60% vs −8.57%). Across the 18 metrics below, Ultra Clean Holdings, Inc. leads on 12 and Aehr Test Systems on 6.

Valuation

Metric AEHR UCTT Semiconductor Equipment & Materials median
P/E n/m 60.90 33.70
P/S 30.47 0.70 4.22
P/B 6.94 2.10 2.94
Price to free cash flow n/m n/m 31.49
EV/EBITDA n/m 11.22 22.64
EV/Sales 28.18 0.85 4.97
Earnings yield (0.48%) 1.64% 2.02%
Free cash flow yield (0.35%) (9.77%) 2.27%

Profitability

Metric AEHR UCTT Semiconductor Equipment & Materials median
Gross margin 35.30% 16.11% 46.86%
Operating margin (28.30%) 4.32% 12.02%
Net margin (14.25%) 1.09% 10.16%
Free cash flow margin (10.75%) (6.84%) 6.73%
Return on equity (4.16%) 3.34% 5.31%
Return on assets (3.61%) 1.39% 4.10%
Return on invested capital (8.57%) 5.60% 6.36%

Growth

Metric AEHR UCTT Semiconductor Equipment & Materials median
Revenue growth (TTM) (15.21%) 15.79% 15.82%
EPS growth (last fiscal year) (76.92%) (869.23%) (4.56%)
Revenue growth, 5-year CAGR 24.67% 7.99% 10.11%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric AEHR UCTT Semiconductor Equipment & Materials median
Debt to equity 0.00 0.78 0.09
Current ratio 10.33 2.79 3.56
Net debt to EBITDA 10.96 1.35 (0.49)

Dividend

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

Size

Metric AEHR UCTT Semiconductor Equipment & Materials median
Market cap 1.61b 1.78b 3.04b

Compare with another peer

Any metric, up to five companies and an Excel export Powerpack