Ichor Holdings, Ltd. (ICHR) vs Trio-Tech International (TRT)

Ichor Holdings, Ltd. and Trio-Tech International are both Semiconductor Equipment & Materials companies. Ichor Holdings, Ltd. is the larger, with a market value of $1.1B against $47.1M — 22.3× the size. Trio-Tech International has negative trailing earnings, so its P/E is not meaningful; Ichor Holdings, Ltd. trades at 483×. Trio-Tech International grew revenue faster over the last twelve months: 71.7% against 15.2%. Ichor Holdings, Ltd. has the higher net margin (0.32% vs −0.05%) and the higher return on invested capital (1.44% vs −0.73%). Across the 19 metrics below, Trio-Tech International leads on 12 and Ichor Holdings, Ltd. on 7.

Valuation

Metric ICHR TRT Semiconductor Equipment & Materials median
P/E 482.51 n/m 33.70
P/S 0.97 0.65 4.22
P/B 1.20 0.95 2.94
Price to free cash flow n/m 24.21 31.49
EV/EBITDA 19.05 7.27 22.64
EV/Sales 0.88 0.24 4.97
Earnings yield 0.21% 0.00% 2.02%
Free cash flow yield (7.08%) 4.13% 2.27%

Profitability

Metric ICHR TRT Semiconductor Equipment & Materials median
Gross margin 13.26% 16.64% 46.86%
Operating margin 1.65% (0.33%) 12.02%
Net margin 0.32% (0.05%) 10.16%
Free cash flow margin (6.10%) 2.69% 6.73%
Return on equity 0.45% (0.09%) 5.31%
Return on assets 0.32% (0.07%) 4.10%
Return on invested capital 1.44% (0.73%) 6.36%

Growth

Metric ICHR TRT Semiconductor Equipment & Materials median
Revenue growth (TTM) 15.23% 71.65% 15.82%
EPS growth (last fiscal year) (140.63%) 100.00% (4.56%)
Revenue growth, 5-year CAGR 0.72% 14.04% 10.11%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric ICHR TRT Semiconductor Equipment & Materials median
Debt to equity 0.13 0.01 0.09
Current ratio 3.56 3.44 3.56
Net debt to EBITDA (4.73) (12.29) (0.49)

Dividend

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

Size

Metric ICHR TRT Semiconductor Equipment & Materials median
Market cap 1.05b 47.14m 3.04b

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