Ichor (ICHR) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Ichor

NasdaqGS•Technology•Semiconductor Equipment & Materials

$52.96+1.54(0.03%)After hours

Market Cap

$1.87B

P/S

1.8x

P/B

2.2x

Ichor Holdings, Ltd. engages in the design, engineering, and manufacture of fluid delivery subsystems and components for semiconductor capital equipment in Singapore, the United States, Europe, and internationally. The company offers gas and chemical delivery subsystems used in the manufacturing of semiconductor devices. Its gas delivery subsystems deliver, monitor, and control gases used in semiconductor manufacturing processes, such as etch and deposition; and chemical delivery subsystems blend and dispense the reactive liquid chemistries used in semiconductor manufacturing processes, including chemical-mechanical planarization, electroplating, and cleaning. In addition, the company provides precision-machined components, weldments, e-beam and laser welded components, precision vacuum and hydrogen brazing, surface treatment technologies, and other proprietary products. It sells and markets its products to equipment OEMs in the semiconductor equipment market. Ichor Holdings, Ltd. was incorporated in 1999 and is headquartered in Fremont, California.

How this company scores

AverageMetricSide Score: 48/100

Strongest: Balance Sheet & Red Flags (21/25); weakest: Cash & Earnings Quality (4/25).

Profitability11/25

Growth12/25

Balance Sheet & Red Flags21/25

Cash & Earnings Quality4/25

Strengths

Long cash runwayLow leverageImproving leverageConsistent growth

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 47.7x5y range 7.6x – 47.7x

Currently above its 8-quarter median.

P/S · 1.8x5y range 0.5x – 2.4x

Currently above its 20-quarter median.

P/B · 2.2x5y range 0.9x – 2.7x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 4 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $1.87B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $1.01B
Q. Revenue: $294.78M
TTM EBITDA: $-1.58M
TTM Op. Income: $-23.98M
Q. Op. Income: $7.20M
TTM Net Income: $-40.28M
Q. Net Income: $998,000
EPS: $0.03
Shares Out.: $35.40M

$1.01B in TTM revenue grew 9.1% YoY, reaching $294.78M last quarter. TTM EBITDA of $-1.58M and TTM operating income of $-23.98M show growth is flowing through to the bottom line. However, net income is negative at $40.28M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 2 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 13.9%
EBITDA Margin: 4.1%
Op. Margin: 2.4%
Net Margin: 0.3%

Op. margin of 2.4% is up 4.5% YoY — cost efficiency is improving. Net margin at 0.3% and gross margin of 13.9% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 3 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 1.8x
P/B Ratio: 2.2x

P/S of 1.8x and P/B of 2.2x. P/S is low relative to typical market levels.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $1.19B
Cash: $256.46M
Long-Term Debt: $114.31M
Book Value: $865.50M
D/E Ratio: 0.1
Debt/EBITDA: 9.5

With $1.19B in assets and $114.31M in long-term debt, D/E is 0.1and book value is $865.50M — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 2 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-15.88M
TTM Free Cash Flow: $-25.61M
FCF Margin: -2.5%
FCF / Net Income: 0.6

TTM FCF of $-25.61M on $-15.88M in operating cash flow. The FCF / Net Income ratio of 0.6x means cash covers only part of net income — earnings quality needs attention. Across the last 8 quarters, free cash flow has fallen for 2 consecutive quarters — a weakening trend.