ICHR Stock Analysis: Ichor Holdings | NASDAQ
Semiconductor Equipment & Materials | NASDAQ, USA | Market Cap: 2.077m USD | 12M Return: 241.1% | KYG4740B1059 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 39.0M
Qual. Beats: 0
Rev. Trend: 79.8%
Qual. Beats: -1
Warnings
Tailwinds
Seasonality 9.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Ichor Holdings, Ltd. (NASDAQ: ICHR) is a US-based supplier that designs, engineers, and manufactures fluid delivery subsystems and components for semiconductor capital equipment. Founded in 1999 and headquartered in Fremont, California, the company operates across Singapore, the United States, Europe, and other international markets, and completed its IPO in December 2016.
The companys core products include gas and chemical delivery subsystems used by semiconductor manufacturers in key process steps such as etch, deposition, chemical-mechanical planarization (CMP), electroplating, and cleaning. It also produces precision-machined components, weldments, brazed assemblies, and surface-treated parts.
Ichor operates as a tier-one subsystem supplier within the semiconductor capital equipment supply chain, selling primarily to wafer fabrication equipment OEMs. This positioning makes the companys revenue tied to the cyclical capital expenditure plans of chipmakers and equipment manufacturers, with demand driven by fab construction, node transitions, and semiconductor industry capacity cycles.
- Semiconductor WFE spending cycle drives fluid delivery subsystem orders
- Gross margin recovery depends on utilization and product mix shift
- Customer concentration with Lam Research and Applied Materials amplifies revenue volatility
| Net Income: -40.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.02 > 0.02 and ΔFCF/TA -1.94 > 1.0 |
| NWC/Revenue: 47.47% < 20% (prev 30.92%; Δ 16.55% < -1%) |
| CFO/TA -0.00 > 3% & CFO -375k > Net Income -40.3m |
| Net Debt (-68.7m) to EBITDA (5.77m): -11.91 < 3 |
| Current Ratio: 3.70 > 1.5 & < 3 |
| Outstanding Shares: last quarter (36.3m) vs 12m ago 5.70% < -2% |
| Gross Margin: 11.83% > 18% (prev 10.17%; Δ 1.66% > 0.5%) |
| Asset Turnover: 94.09% > 50% (prev 96.03%; Δ -1.94% > 0%) |
| Interest Coverage Ratio: -4.02 > 6 (EBIT TTM -26.0m / Interest Expense TTM 6.47m) |
| A: 0.40 (Total Current Assets 659.3m - Total Current Liabilities 178.1m) / Total Assets 1.19b |
| B: 0.11 (Retained Earnings 129.6m / Total Assets 1.19b) |
| C: -0.02 (EBIT TTM -26.0m / Avg Total Assets 1.08b) |
| D: 2.68 (Book Value of Equity 865.5m / Total Liabilities 322.8m) |
| Altman-Z'' = 5.66 = AAA |
| DSRI: 1.14 (Receivables 104.7m/84.4m, Revenue 1.01b/928.2m) |
| GMI: 0.86 (GM 10.17% / 11.83%) |
| AQI: 0.80 (AQ_t 0.33 / AQ_t-1 0.41) |
| SGI: 1.09 (Revenue 1.01b / 928.2m) |
| TATA: -0.03 (NI -40.3m - CFO -375k) / TA 1.19b) |
| Beneish M = -3.10 (Cap -4..+1) = AA |
As of September 06, 2026, the stock is trading at USD 56.38 with a total of 690,605 shares traded. Over the past week, the price has changed by +1.69%, over one month by -20.89%, over three months by -20.66% and over the past year by +241.08%.
Current recommended Stop Loss: 50.40 (which is 10.6% or 1.2 ATR below the current price).
Ichor Holdings has received a consensus analysts rating of 4.43. Therefore, it is recommended to buy ICHR.
- StrongBuy: 5
- Buy: 0
- Hold: 2
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 95.9 | 70% |
P/E Forward = 37.4532
P/S = 2.0485
P/B = 2.5571
P/EG = 0.5343
Revenue TTM = 1.01b USD
EBIT TTM = -26.0m USD
EBITDA TTM = 5.77m USD
Long Term Debt = 114.3m USD (from longTermDebt, last quarter)
Short Term Debt = 18.3m USD (from shortTermDebt, last quarter)
Debt = 187.7m USD (from shortLongTermDebtTotal, last quarter) + Leases 33.6m
Net Debt = -68.7m USD (calculated: Debt 187.7m - CCE 256.5m)
Enterprise Value = 2.01b USD (2.08b + Debt 187.7m - CCE 256.5m)
Interest Coverage Ratio = -4.02 (Ebit TTM -26.0m / Interest Expense TTM 6.47m)
EV/FCF = -78.42x (Enterprise Value 2.01b / FCF TTM -25.6m)
FCF Yield = -1.28% (FCF TTM -25.6m / Enterprise Value 2.01b)
FCF Margin = -2.53% (FCF TTM -25.6m / Revenue TTM 1.01b)
Net Margin = -3.97% (Net Income TTM -40.3m / Revenue TTM 1.01b)
Gross Margin = 11.83% ((Revenue TTM 1.01b - Cost of Revenue TTM 893.9m) / Revenue TTM)
Gross Margin QoQ = 13.90% (prev 11.63%)
Tobins Q-Ratio = 1.69 (Enterprise Value 2.01b / Total Assets 1.19b)
Interest Expense / Debt = 3.45% (Interest Expense 6.47m / Debt 187.7m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -20.6m (EBIT -26.0m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 3.70 (Total Current Assets 659.3m / Total Current Liabilities 178.1m)
Debt / Equity = 0.22 (Debt 187.7m / totalStockholderEquity, last quarter 865.5m)
Debt / EBITDA = -11.91 (Net Debt -68.7m / EBITDA 5.77m)
Debt / FCF = 2.68 (negative FCF - burning cash) (Net Debt -68.7m / FCF TTM -25.6m)
Total Stockholder Equity = 718.4m (last 4 quarters mean from totalStockholderEquity)
RoA = -3.74% (Net Income -40.3m / Total Assets 1.19b)
RoE = -5.61% (Net Income TTM -40.3m / Total Stockholder Equity 718.4m)
RoCE = -3.13% (EBIT -26.0m / Capital Employed (Equity 718.4m + L.T.Debt 114.3m))
RoIC = -2.10% (negative operating profit) (NOPAT -20.6m / Invested Capital 977.8m)
WACC = 17.16% (E(2.08b)/V(2.26b) * Re(18.47%) + D(187.7m)/V(2.26b) * Rd(3.45%) * (1-Tc(0.21)))
Discount Rate = 18.47% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: 81.25 | Cagr: 8.83%
[DCF] Fair Price = unknown (Cash Flow -25.6m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.14 | # QB: 0
Revenue Correlation: 79.78 | Revenue CAGR: 7.66% | SUE: -1.99 | # QB: -1
EPS current Quarter (2026-09-30): EPS=0.45 | Chg30d=+9.32% | Revisions=+70% | Analysts=7
EPS current Year (2026-12-31): EPS=1.57 | Chg30d=+13.88% | Revisions=+70% | GrowthEPS=+582.6% | GrowthRev=+31.4%
EPS next Year (2027-12-31): EPS=3.27 | Chg30d=+21.12% | Revisions=+70% | GrowthEPS=+108.2% | GrowthRev=+33.0%
[Analyst] Revisions Ratio: +88% (up=21, down=0)