Ichor Holdings vs Semtech
Ichor Holdings and Semtech are similar in size: $948m and $1.05bn of revenue in their latest fiscal years. Semtech grew faster (15.5% against 11.6%). Semtech kept more of each dollar of sales as profit: a net margin of -3.8% against -5.6%.
| Latest fiscal year | Ichor HoldingsICHR, 2025 | SemtechSMTC, 2026 |
|---|---|---|
| Revenue | $948m | $1.05bn |
| Revenue growth | 11.6% | 15.5% |
| Net income | −$52.8m | −$40.4m |
| Operating margin | -4.1% | — |
| Net margin | -5.6% | -3.8% |
| Return on equity | -7.7% | -7.4% |
| Free cash flow | −$6.3m | $171m |
| Cash | $98.3m | $195m |
| Total debt | $125m | $491m |
| Debt to equity | 18.8% | — |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | — | — |
| Employees | — | 977 |
| Market value | $1.35bn | $11.83bn |
| Price vs our value range | — | Above our value range |
| Moat score | 35 (Weak) | 38 (Weak) |
| Insider trades, 12 months | 2 buys, 28 sales | 0 buys, 60 sales |