Ichor Holdings, Ltd. (ICHR) vs Photronics, Inc. (PLAB)

Ichor Holdings, Ltd. and Photronics, Inc. are both Semiconductor Equipment & Materials companies. Photronics, Inc. is the larger, with a market value of $1.5B against $1.1B — 1.4× the size. Photronics, Inc. trades at the lower P/E: 9.0× against 483×. Ichor Holdings, Ltd. grew revenue faster over the last twelve months: 15.2% against 1.25%. Photronics, Inc. has the higher net margin (19.0% vs 0.32%) and the higher return on invested capital (11.3% vs 1.44%). Across the 21 metrics below, Photronics, Inc. leads on 17 and Ichor Holdings, Ltd. on 4.

Valuation

Metric ICHR PLAB Semiconductor Equipment & Materials median
P/E 482.51 9.04 33.70
P/S 0.97 1.73 4.22
P/B 1.20 0.86 2.94
Price to free cash flow n/m 13.63 31.49
EV/EBITDA 19.05 3.03 22.64
EV/Sales 0.88 0.96 4.97
Earnings yield 0.21% 11.06% 2.02%
Free cash flow yield (7.08%) 7.33% 2.27%

Profitability

Metric ICHR PLAB Semiconductor Equipment & Materials median
Gross margin 13.26% 33.65% 46.86%
Operating margin 1.65% 22.46% 12.02%
Net margin 0.32% 19.04% 10.16%
Free cash flow margin (6.10%) 12.74% 6.73%
Return on equity 0.45% 10.06% 5.31%
Return on assets 0.32% 8.82% 4.10%
Return on invested capital 1.44% 11.32% 6.36%

Growth

Metric ICHR PLAB Semiconductor Equipment & Materials median
Revenue growth (TTM) 15.23% 1.25% 15.82%
EPS growth (last fiscal year) (140.63%) 9.09% (4.56%)
Revenue growth, 5-year CAGR 0.72% 6.85% 10.11%
Net income growth, 5-year CAGR 0.00% 32.17% 0.00%

Health

Metric ICHR PLAB Semiconductor Equipment & Materials median
Debt to equity 0.13 0.00 0.09
Current ratio 3.56 4.94 3.56
Net debt to EBITDA (4.73) (2.06) (0.49)

Dividend

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

Size

Metric ICHR PLAB Semiconductor Equipment & Materials median
Market cap 1.05b 1.50b 3.04b

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