Ichor Holdings, Ltd. (ICHR) vs Ultra Clean Holdings, Inc. (UCTT)

Ichor Holdings, Ltd. and Ultra Clean Holdings, Inc. are both Semiconductor Equipment & Materials companies. Ultra Clean Holdings, Inc. is the larger, with a market value of $1.8B against $1.1B — 1.7× the size. Ultra Clean Holdings, Inc. trades at the lower P/E: 60.9× against 483×. Ultra Clean Holdings, Inc. grew revenue faster over the last twelve months: 15.8% against 15.2%. Ultra Clean Holdings, Inc. has the higher net margin (1.09% vs 0.32%) and the higher return on invested capital (5.60% vs 1.44%). Across the 20 metrics below, Ultra Clean Holdings, Inc. leads on 13 and Ichor Holdings, Ltd. on 7.

Valuation

Metric ICHR UCTT Semiconductor Equipment & Materials median
P/E 482.51 60.90 33.70
P/S 0.97 0.70 4.22
P/B 1.20 2.10 2.94
Price to free cash flow n/m n/m 31.49
EV/EBITDA 19.05 11.22 22.64
EV/Sales 0.88 0.85 4.97
Earnings yield 0.21% 1.64% 2.02%
Free cash flow yield (7.08%) (9.77%) 2.27%

Profitability

Metric ICHR UCTT Semiconductor Equipment & Materials median
Gross margin 13.26% 16.11% 46.86%
Operating margin 1.65% 4.32% 12.02%
Net margin 0.32% 1.09% 10.16%
Free cash flow margin (6.10%) (6.84%) 6.73%
Return on equity 0.45% 3.34% 5.31%
Return on assets 0.32% 1.39% 4.10%
Return on invested capital 1.44% 5.60% 6.36%

Growth

Metric ICHR UCTT Semiconductor Equipment & Materials median
Revenue growth (TTM) 15.23% 15.79% 15.82%
EPS growth (last fiscal year) (140.63%) (869.23%) (4.56%)
Revenue growth, 5-year CAGR 0.72% 7.99% 10.11%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric ICHR UCTT Semiconductor Equipment & Materials median
Debt to equity 0.13 0.78 0.09
Current ratio 3.56 2.79 3.56
Net debt to EBITDA (4.73) 1.35 (0.49)

Dividend

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

Size

Metric ICHR UCTT Semiconductor Equipment & Materials median
Market cap 1.05b 1.78b 3.04b

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