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Contract-manufactures gas delivery and process subsystems used inside semiconductor fabrication equipment.
Contract-manufactures gas delivery and process subsystems used inside semiconductor fabrication equipment.
Builds gas and fluid delivery systems to its customers' designs, so volumes follow the chip-equipment makers' own orders and a handful of customers account for most sales. Factories in the US and Asia, including Singapore, build the units, and margins are thin because customers choose the design and control pricing.
In one line: A smaller, subsystems-focused Ichor Holdings peer.
Moat: narrow (customer qualification, switching costs, process know-how). Deeply qualified into OEM supply chains, making requalification costly for switching suppliers.
Headquarters: Hayward, California, United States · Founded: 1991 · Employees: 7,411
Size Ultra Clean (UCTT) is a United States Information Technology company (Industrial Machinery) with a market value of $1.97B, the 1799th largest of 3,117 United States companies the cockpit tracks. Shares closed at $41.13 on 6 Nov 2026.
Performance Over six months the shares fell 52.8%, against -29.8% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd lowest of 14 in its peer set.
Growth Revenue grew 15.8% over the last twelve months (peer median +3.9%); the operating margin is 4.3% (peer median 13.2%).
Valuation It trades at 7.2× forward earnings against a peer median of 15.0× (cheapest of 13).
Capital Return on invested capital runs 6.0 points below its cost of capital (11.8% WACC).
Short interest Short interest is 7.2% of the free float (15 Oct 2026).
Next results Next results expected around 24 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $2.44B | $2.05B | $2.10B | $1.73B | $2.37B |
| Revenue growth | — | -2% | +21% | -27% | — |
| Gross profit | $394M | $323M | $356M | $277M | $465M |
| EBITDA | $183M | $120M | $168M | $102M | $266M |
| Net income | $26.6M | -$181M | $23.7M | -$31.1M | $40.4M |
| Free cash flow | -$165M | $14.7M | $1.50M | $59.8M | -$53.6M |
| Capital expenditure | $55.4M | $50.3M | $63.5M | $75.8M | $100M |
| Total debt | $810M | $654M | $660M | $640M | $611M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Ultra Clean UCTT | $1.97B | -53% | +16% | 4% | 7.2× | n/a |
| Ichor ICHR | $1.16B | -58% | +15% | 3% | 9.9× | n/a |
| Benchmark Electronics BHE | $2.16B | -29% | +13% | 4% | 17.7× | 13.8% |
| Kulicke and Soffa Industries, I KLIC | $3.35B | -38% | +44% | 13% | 10.9× | 24.4% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | UCTT | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -39.1% | -29.6% | 6th lowest of 14 |
| 6-month return | -52.8% | -29.8% | 2nd lowest of 14 |
| Distance from 52-week high | -71.5% | -52.9% | 2nd lowest of 14 |
| Revenue growth (TTM) | +15.8% | +3.9% | 5th highest of 14 |
| Operating margin | 4.3% | 13.2% | 4th lowest of 13 |
| Forward P/E | 7.2× | 15.0× | cheapest of 13 |
| ROIC minus cost of capital | -6.0 pp | -4.4 pp | 5th lowest of 14 |
| EV / EBITDA | 14.2× | 15.9× | 6th cheapest of 13 |
| Net debt / EBITDA | 3.0× | -0.9× | 2nd most indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Ultra Clean UCTT | United States | $1.97B | -53% | +16% | 4% | 7.2× | n/a | n/a |
| EO Technics 039030.KS | South Korea | $2.53B | -39% | +26% | 25% | 29.9× | 18.0% | +3.2% |
| Axcelis Technologies ACLS | United States | $3.06B | -39% | -3% | 10% | 17.8× | 31.2% | +12.1% |
| ACM Research ACMR | United States | $3.11B | -25% | +27% | 13% | 16.0× | n/a | n/a |
| Crane NXT CXT | United States | $3.31B | +27% | +17% | 16% | 12.6× | 7.8% | -9.7% |
| Ichor ICHR | United States | $1.16B | -58% | +15% | 3% | 9.9× | n/a | n/a |
| Kulicke and Soffa Industries, I KLIC | United States | $3.35B | -38% | +44% | 13% | 10.9× | 24.4% | +1.0% |
| Shibaura Mechatronics 6590.T | Japan | $1.03B | -51% | +1% | 16% | 10.3× | n/a | n/a |
| Sumco 3436.T | Japan | $3.96B | -28% | +4% | -4% | n/a | n/a | n/a |
| GPGI GPGI | United States | $4.12B | +2% | -100% | n/a | 14.2× | n/a | n/a |
| Badger Meter BMI | United States | $4.52B | +33% | -2% | 19% | 32.5× | 10.9% | +16.6% |
| Eastman Kodak KODK | United States | $786M | -30% | +9% | 4% | 11.1× | -14.7% | +0.8% |
| Techwing 089030.KS | South Korea | $737M | -51% | +4% | 18% | 15.8× | n/a | n/a |
| Omron 6645.T | Japan | $5.79B | -17% | -2% | 9% | 16.7× | 11.7% | +3.2% |