Ichor Holdings, Ltd. (ICHR) vs Veeco Instruments Inc. (VECO)

Ichor Holdings, Ltd. and Veeco Instruments Inc. are both Semiconductor Equipment & Materials companies. Veeco Instruments Inc. is the larger, with a market value of $2.0B against $1.1B — 1.9× the size. Veeco Instruments Inc. trades at the lower P/E: 80.7× against 483×. Ichor Holdings, Ltd. grew revenue faster over the last twelve months: 15.2% against 6.58%. Ichor Holdings, Ltd. has the higher net margin (0.32% vs 0.00%) and the lower return on invested capital (1.44% vs 2.05%). Across the 20 metrics below, Ichor Holdings, Ltd. leads on 10 and Veeco Instruments Inc. on 10.

Valuation

Metric ICHR VECO Semiconductor Equipment & Materials median
P/E 482.51 80.74 33.70
P/S 0.97 2.85 4.22
P/B 1.20 2.24 2.94
Price to free cash flow n/m 16.46 31.49
EV/EBITDA 19.05 44.09 22.64
EV/Sales 0.88 2.54 4.97
Earnings yield 0.21% 1.24% 2.02%
Free cash flow yield (7.08%) 6.08% 2.27%

Profitability

Metric ICHR VECO Semiconductor Equipment & Materials median
Gross margin 13.26% 37.39% 46.86%
Operating margin 1.65% 3.02% 12.02%
Net margin 0.32% 0.00% 10.16%
Free cash flow margin (6.10%) 17.32% 6.73%
Return on equity 0.45% 0.00% 5.31%
Return on assets 0.32% 0.00% 4.10%
Return on invested capital 1.44% 2.05% 6.36%

Growth

Metric ICHR VECO Semiconductor Equipment & Materials median
Revenue growth (TTM) 15.23% 6.58% 15.82%
EPS growth (last fiscal year) (140.63%) (52.03%) (4.56%)
Revenue growth, 5-year CAGR 0.72% 7.90% 10.11%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric ICHR VECO Semiconductor Equipment & Materials median
Debt to equity 0.13 0.25 0.09
Current ratio 3.56 3.87 3.56
Net debt to EBITDA (4.73) (2.95) (0.49)

Dividend

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

Size

Metric ICHR VECO Semiconductor Equipment & Materials median
Market cap 1.05b 2.03b 3.04b

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