Ichor Holdings, Ltd. (ICHR) vs IPG Photonics Corporation (IPGP)

Ichor Holdings, Ltd. and IPG Photonics Corporation are both Semiconductor Equipment & Materials companies. IPG Photonics Corporation is the larger, with a market value of $2.6B against $1.1B — 2.5× the size. IPG Photonics Corporation trades at the lower P/E: 65.0× against 483×. Ichor Holdings, Ltd. grew revenue faster over the last twelve months: 15.2% against 14.8%. IPG Photonics Corporation has the higher net margin (3.65% vs 0.32%) and the lower return on invested capital (1.06% vs 1.44%). Across the 21 metrics below, IPG Photonics Corporation leads on 13 and Ichor Holdings, Ltd. on 8.

Valuation

Metric ICHR IPGP Semiconductor Equipment & Materials median
P/E 482.51 64.97 33.70
P/S 0.97 2.39 4.22
P/B 1.20 1.23 2.94
Price to free cash flow n/m 70.44 31.49
EV/EBITDA 19.05 23.54 22.64
EV/Sales 0.88 1.58 4.97
Earnings yield 0.21% 1.54% 2.02%
Free cash flow yield (7.08%) 1.42% 2.27%

Profitability

Metric ICHR IPGP Semiconductor Equipment & Materials median
Gross margin 13.26% 38.71% 46.86%
Operating margin 1.65% 1.89% 12.02%
Net margin 0.32% 3.65% 10.16%
Free cash flow margin (6.10%) 3.39% 6.73%
Return on equity 0.45% 1.90% 5.31%
Return on assets 0.32% 1.66% 4.10%
Return on invested capital 1.44% 1.06% 6.36%

Growth

Metric ICHR IPGP Semiconductor Equipment & Materials median
Revenue growth (TTM) 15.23% 14.78% 15.82%
EPS growth (last fiscal year) (140.63%) 117.85% (4.56%)
Revenue growth, 5-year CAGR 0.72% (3.52%) 10.11%
Net income growth, 5-year CAGR 0.00% (27.90%) 0.00%

Health

Metric ICHR IPGP Semiconductor Equipment & Materials median
Debt to equity 0.13 0.00 0.09
Current ratio 3.56 5.99 3.56
Net debt to EBITDA (4.73) (12.73) (0.49)

Dividend

Metric ICHR IPGP Semiconductor Equipment & Materials median
Dividend yield — — 0.59%
Payout ratio — — 0.16

Size

Metric ICHR IPGP Semiconductor Equipment & Materials median
Market cap 1.05b 2.64b 3.04b

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