Amtech Systems, Inc. (ASYS) vs Ichor Holdings, Ltd. (ICHR)

Amtech Systems, Inc. and Ichor Holdings, Ltd. are both Semiconductor Equipment & Materials companies. Ichor Holdings, Ltd. is the larger, with a market value of $1.8B against $235.5M — 7.4× the size. Ichor Holdings, Ltd. has negative trailing earnings, so its P/E is not meaningful; Amtech Systems, Inc. trades at 47.9×. Ichor Holdings, Ltd. grew revenue faster over the last twelve months: 9.10% against −2.35%. Amtech Systems, Inc. has the higher net margin (4.90% vs −3.97%) and the higher return on invested capital (12.7% vs −2.05%). Across the 19 metrics below, Amtech Systems, Inc. leads on 14 and Ichor Holdings, Ltd. on 5.

Valuation

Metric ASYS ICHR Semiconductor Equipment & Materials median
P/E 47.85 n/m 45.03
P/S 2.42 1.47 4.64
P/B 1.71 1.72 3.22
Price to free cash flow 22.44 n/m 48.18
EV/EBITDA 12.68 155.65 33.11
EV/Sales 1.41 1.33 5.52
Earnings yield 2.09% (2.79%) 1.41%
Free cash flow yield 4.46% (2.27%) 1.67%

Profitability

Metric ASYS ICHR Semiconductor Equipment & Materials median
Gross margin 46.86% 10.39% 43.95%
Operating margin 8.10% (2.37%) 10.32%
Net margin 4.90% (3.97%) 7.45%
Free cash flow margin 10.79% (2.53%) 6.77%
Return on equity 4.78% (5.17%) 4.78%
Return on assets 3.25% (3.71%) 3.62%
Return on invested capital 12.69% (2.05%) 6.10%

Growth

Metric ASYS ICHR Semiconductor Equipment & Materials median
Revenue growth (TTM) (2.35%) 9.10% 14.60%
EPS growth (last fiscal year) (253.33%) (140.63%) (4.56%)
Revenue growth, 5-year CAGR 3.93% 0.72% 10.11%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric ASYS ICHR Semiconductor Equipment & Materials median
Debt to equity 0.00 0.14 0.09
Current ratio 5.41 3.70 3.66
Net debt to EBITDA 3.27 (4.73) (0.49)

Dividend

Metric ASYS ICHR Semiconductor Equipment & Materials median
Dividend yield — — 0.42%
Payout ratio — — 0.19

Size

Metric ASYS ICHR Semiconductor Equipment & Materials median
Market cap 235.48m 1.75b 3.80b

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