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 $2.1B against $269.6M — 7.9× the size. Ichor Holdings, Ltd. has negative trailing earnings, so its P/E is not meaningful; Amtech Systems, Inc. trades at 59.0×. 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 58.99 n/m 54.39
P/S 2.98 2.02 6.08
P/B 2.11 2.37 4.89
Price to free cash flow 27.66 n/m 60.92
EV/EBITDA 17.76 220.78 39.95
EV/Sales 1.97 1.89 6.36
Earnings yield 1.70% (2.02%) 1.14%
Free cash flow yield 3.62% (1.65%) 1.28%

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%) —
Revenue growth, 5-year CAGR 3.93% 0.72% 8.85%
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 — — 0.85%
Payout ratio 0.00 0.00 0.00

Size

Metric ASYS ICHR Semiconductor Equipment & Materials median
Market cap 269.62m 2.14b 4.63b

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