Ultra Clean Holdings (UCTT) Stock Fundamentals, Analysis & Risk Signals

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

Ultra Clean Holdings

NasdaqGS•Technology•Semiconductor Equipment & Materials

$46.83-2.88(-0.06%)After hours

Market Cap

$2.18B

P/E

82.0x

P/S

0.9x

P/B

3.0x

Ultra Clean Holdings, Inc. develops and supplies critical subsystems, components and parts, and cleaning and analytical services for the semiconductor industry in the United States and internationally. The company offers outsourced solutions for the development, design, component sourcing and cleaning, prototyping, engineering, and manufacturing and testing of advanced systems. It also provides a range of gas delivery solutions, such as precision thermal products, valves, connectors, industrial process connectors and valves, pneumatic actuators, manifolds and safety solutions, hoses, pressure gauges, gas lines, and component heaters, as well as complex weldments. In addition, the company offers assemblies, including gas and fluid delivery solutions, wafer transport systems, mechatronic assemblies, process modules, and sub-fab process equipment support racks; weldments and frames with exacting standards; heaters, sensors, and controllers for precise temperature control; integrated device manufacturers and OEMs validated process tool chamber parts cleaning and coating services; and tool part process optimization solutions, analytical verification of process tool chamber part cleaning effectiveness and micro contamination analysis of tool parts, wafers and depositions, chemicals, cleanroom materials, deionized water, and airborne molecular contamination. It primarily serves customers in the semiconductor capital equipment and semiconductor integrated device manufacturing industries, as well as display, consumer, medical, energy, industrial, and research equipment industries. The company was founded in 1991 and is headquartered in Hayward, California.

How this company scores

AverageMetricSide Score: 55/100

Strongest: Growth (22/25); weakest: Cash & Earnings Quality (2/25).

Profitability13/25

Growth22/25

Balance Sheet & Red Flags18/25

Cash & Earnings Quality2/25

Strengths

Growing revenueRising earningsInterest easily coveredProfit converts from growth

Valuation vs. 5-year range

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

P/E · 82.0x5y range 0.0x – 82.0x

Currently above its 11-quarter median.

P/S · 0.9x5y range 0.0x – 2.5x

Currently above its 19-quarter median.

P/B · 3.0x5y range 0.0x – 8.5x

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 6 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $2.18B

Metrics at a Glance

as of September 2026

Revenue & Profit

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

TTM Revenue: $2.44B
Q. Revenue: $759.00M
TTM EBITDA: $179.20M
TTM Op. Income: $105.50M
Q. Op. Income: $53.70M
TTM Net Income: $26.60M
Q. Net Income: $39.10M
EPS: $0.86
Shares Out.: $45.40M

$2.44B in TTM revenue grew 15.8% YoY, reaching $759.00M last quarter. TTM EBITDA of $179.20M and TTM operating income of $105.50M show growth is flowing through to the bottom line. TTM net income of $26.60M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 3 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 16.9%
EBITDA Margin: 8.7%
Op. Margin: 7.1%
Net Margin: 5.2%

Op. margin of 7.1% is up 5.0% YoY — cost efficiency is improving. Net margin at 5.2% and gross margin of 16.9% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

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

P/E Ratio: 82.0x
P/S Ratio: 0.9x
P/B Ratio: 3.0x

At 82.0x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 0.9x and P/B of 3.0x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is up 0% — a weakening trend.

Assets & Liabilities

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

Total Assets: $2.10B
Cash: $270.90M
Long-Term Debt: $635.10M
Book Value: $727.50M
D/E Ratio: 0.9
Debt/EBITDA: 9.6

With $2.10B in assets and $635.10M in long-term debt, D/E is 0.9and book value is $727.50M — a conservative capital structure with a cushion to weather downturns. Across the last 5 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: $-42.30M
TTM Free Cash Flow: $-164.00M
FCF Margin: -6.7%
FCF / Net Income: -6.2

TTM FCF of $-164.00M on $-42.30M in operating cash flow. The FCF / Net Income ratio of -6.2x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has fallen for 5 consecutive quarters — a weakening trend.