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Ichor Holdings, LTD. (ICHR) stock

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NASDAQ: ICHR Nasdaq Semiconductors Next results ~February 8, 2027

C Fundamentals grade

Ichor Holdings designs, engineers and manufactures fluid delivery subsystems and components used mainly in the capital equipment that makes semiconductors. Its core products are gas delivery subsystems, which meter and control the specialised gases needed for processes such as etching and deposition, and chemical delivery subsystems, which blend and dispense the reactive liquids used in steps including cleaning, electroplating and chemical-mechanical planarisation. It also supplies diaphragm valves, welded assemblies, precision-machined parts and a patented flow controller.

The company sells directly to equipment makers (OEMs), many of which outsource this specialised work, and operates on a purchase-order basis rather than fixed long-term contracts. Its business is concentrated: its largest customers are Lam Research, Applied Materials and ASML, and in 2025 the first two alone accounted for 76% of sales. Aerospace and defence customers make up under a tenth of sales.

Ichor traces its origins to a business incorporated in 1999, while the present holding company was formed in the Cayman Islands in 2012. It runs manufacturing sites in the United States, Singapore, Malaysia and Mexico, and employs roughly 1,891 full-time staff.

Based on Ichor Holdings, LTD.'s 10-K filed February 20, 2026.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$89

Valuation models combined (4)

Base case. Range ~$51–$120. Weighted average of 4 models (growth cash-flow model, forward price-to-earnings vs peers, forward price-to-sales vs peers, revenue-to-maturity model), the growth cash-flow model counting double.

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Ichor Holdings, LTD. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Ichor Holdings files

Where Ichor stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $1.01bn, up 9.1% on a year earlier, faster than 7.5% a quarter earlier. Free-cash-flow margin held at -2.5%. The diluted share count is up 3.0% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 5 of our 7 financial-health checks. Our revenue-to-maturity cash-flow model value is $44.92 a share, against a share price of $42.41.

Source: 10-Q filed August 4, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~February 8, 2027 (estimated)

Ichor Holdings, LTD.'s trailing-twelve-month revenue grew 15.2% year on year, with a free-cash-flow margin of -6.1%. Where it stands out: stock pay as % of revenue of 1.4% ranks 12 of 74 semiconductor companies we cover. Where it lags: gross margin of 13.3% ranks 68 of 73 semiconductor companies we cover.

Current signal Revenue growth accelerating: TTM revenue growth rose to 15.2% (+6.1pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 15.2% over the last 12 months, against a median of 14.2% for semiconductor companies we cover.
  • Growth speeding up. The growth rate is 6.1 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 4.4 points on a year ago.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 22.0% over 90 days.

Things to watch

  • Burning cash. Free cash flow was -6.1% of revenue over the last 12 months.
  • Share dilution. Diluted shares rose 5.3% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 98% and a beta of 3.9 against the S&P 500.
  • Weak cash conversion. Free cash flow was -1913% of net income over the last 12 months.
  • Below peers: gross margin. Gross margin of 13.3% ranks 68 of 73 semiconductor companies we cover (median 48.3%).

Latest results: FY2026 Q3

Filed November 3, 2026
Earnings per share
$0.34 against an average estimate of $0.31: beat by 10.7%
Revenue
$329m, up 37.4% on a year earlier
Guidance given
revenue $315m to $345m (the third quarter of 2026); GAAP diluted EPS $0.25 to $0.35 (the third quarter of 2026)
Next report
November 2, 2026; average EPS estimate $0.45

Ichor Holdings' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-2.1%
  • 1 week-11.5%
  • 1 month-42.7%
  • This year+99.9%
  • 1 year+57.3%
  • 5 years-21.8%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.1B
Operating margin
1.7%
Net margin
0.3%
EPS (TTM, diluted)
$0.10

Growth

Revenue growth
+15.2%
Change in growth rate
+6.1 pts
Share count change
+5.3%

Cash

Free cash flow (TTM)
-$67.2M
FCF margin
-6.1%
Stock pay % of revenue
1.4%

Earnings

Last results
November 2, 2026
Next results (est.)
February 8, 2027

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Insider trade
  3. Results
  4. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Ichor Holdings, LTD. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value Ichor Holdings, LTD. as an operating company, with every model that fits that kind of business. Cost of equity 13.2%: the 10-year Treasury yield (4.9%) plus a beta of 1.85 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$120 ~$73–$160 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$51 ~$48–$88 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$3.9 ~$2.6–$5.9 Left out: out of range vs price (0.11x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity below long-run growth
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$110 ~$110–$300 Included, half weight
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$56 ~$44–$69 Included
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$89 ~$51–$120 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Ichor Holdings, LTD. with Semiconductors in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 2016201720182019202020212022202320242025Now
Share price$10.82$24.60$15.94$33.85$30.46$46.03$26.82$33.63$31.37$18.95$36.84
Market value$21m$645m$401m$771m$715m$1.3bn$777m$982m$1.0bn$649m$1.3bn
+ Net debt (− = net cash)−$13m$120m$0$0−$51m$220m−$86m$170m$21m$27m−$93m
Enterprise value$8m$765m$401m$771m$664m$1.6bn$690m$1.2bn$1.0bn$675m$1.2bn
Multiples
Price / sales 0.1x1.0x0.5x1.2x0.8x1.2x0.6x1.2x1.2x0.7x1.2x
Price / earnings 1.3x11.4x6.9x71.8x21.5x18.8x10.7x———n/m
Price / free cash flow 0.9x21.1x8.6x17.2x25.6x—n/m23.3x100.3x——
EV / EBITDA 0.3x13.0x4.6x20.9x10.1x14.5x5.7x48.6x45.4x—26.7x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

35 /100

Weak moat

How hard Ichor Holdings's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 8 / 20

    Cash operating profit has been a median 7.2% of total assets over 9 years.

  • Pricing power 8 / 20

    Gross margin has been a median 14.4%, moving by 2.0 percentage points (standard deviation) across 10 years.

  • Durability 0 / 20

    Operating margin has been a median 3.3%; its worst year was -2.8%.

  • Cash conversion 9 / 20

    Free cash flow was positive in 7 of 10 years, at a median 3.4% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 29.2% over five years; stock-based pay has been a median 1.2% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.58 +585% $1.2bn +31%
Next $3.29 +109% $1.7bn +33%

Next year's EPS estimate has moved +22.0% in 90 days, across 8 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +14.3% on 90 days ago. In the last 30 days, 7 analysts raised Ichor Holdings, LTD.'s forecast and 0 cut it.

Consensus EPS forecast Ichor Holdings, LTD., last 90 days
$1.00 $1.50 $2.00 $2.50 $3.00 $3.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $1.38 Current fiscal year, 60 days ago: $1.57 Current fiscal year, 30 days ago: $1.57 Current fiscal year, 7 days ago: $1.58 Current fiscal year, Now: $1.58 $1.58 Next fiscal year, 90 days ago: $2.69 Next fiscal year, 60 days ago: $3.27 Next fiscal year, 30 days ago: $3.27 Next fiscal year, 7 days ago: $3.29 Next fiscal year, Now: $3.29 $3.29

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $1.38$2.69
60 days ago $1.57$3.27
30 days ago $1.57$3.27
7 days ago $1.58$3.29
Now $1.58$3.29

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.31 $0.34 +10.7%
Mar 2026 $0.13 $0.15 +14.1%
Dec 2025 −$0.06 $0.01 +117.5%
Sept 2025 $0.12 $0.07 −41.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 3, 2026
  • Revenue the third quarter of 2026 $315m to $345m
    “Revenue $315 million $330 million $345 million” source
  • GAAP diluted EPS the third quarter of 2026 $0.25 to $0.35 GAAP
    “GAAP diluted EPS $0.25 $0.30 $0.35” source
  • Non-GAAP diluted EPS the third quarter of 2026 $0.40 to $0.50 Non-GAAP
    “Non-GAAP diluted EPS $0.40 $0.45 $0.50” source
  • amortization of intangible assets the third quarter of 2026 about $1.9m
    “This outlook for non-GAAP diluted EPS excludes amortization of intangible assets of approximately $1.9 million and share-based compensation expense of approximately $4.8 million, as well as the related income tax effects.” source
  • share-based compensation expense the third quarter of 2026 about $4.8m
    “This outlook for non-GAAP diluted EPS excludes amortization of intangible assets of approximately $1.9 million and share-based compensation expense of approximately $4.8 million, as well as the related income tax effects.” source

How earlier guidance turned out

  • GAAP diluted EPS, second quarter of 2026 guided $0.10 to $0.20 Below range: $0.03
  • Revenue, second quarter of 2026 guided $290m to $310m Within range: $295m

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

8 analysts, Nov 2026
Buy788%
Hold113%
Sell00%

Monthly trend

  1. Nov 20261618
  2. Oct 20261517
  3. Sep 20261517

Counts of recommendations published by analysts covering Ichor Holdings, LTD., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
8.4%
of tradable shares
Days to cover
3.49
at average volume
Short interest, 1 month
−5%
to October 15, 2026
Held by institutions
98%
of shares
Held by insiders
1.4%
of shares
Employees
1,891
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +62.4%

$22.68 on October 31, 2025 to $36.84

ThenNowEffect
Revenue (last 12 months) $929m $1.0bn +9.1%
P/S multiple 0.8x 1.3x +53.3%
Share count 34m 35m −2.9%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +40.9%

$26.14 on November 3, 2023 to $36.84

ThenNowEffect
Revenue (last 12 months) $1.1bn $1.0bn −5.1%
P/S multiple 0.7x 1.3x +79.0%
Share count 29m 35m −17.0%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
ICHR+53%−42%+25%−4%−43%+100%
Industry peers (median)+35%−34%+15%−15%+19%+13%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
ICHR58%42%50%50%50%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
ICHR−39%−56%−42%−41%−60%−67%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since December 9, 2016: 77% from April 5, 2021 to August 5, 2025. Getting back needed a 342% gain, reached on April 14, 2026, 252 days after the low.

Price behaviour

52-week range
$14.25 – $112.28
From 52-week high
−67.2%
vs 50-day average
−30.0%
vs 200-day average
−39.5%
Volatility (1 year)
98%
Beta vs S&P 500
3.91

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 5 down
typical move ±17.0%
After a week
6 up, 5 down
typical move ±20.8%
After a month
6 up, 5 down
typical move ±22.7%
Results releasedNext dayS&P 500 next day5 days21 days
August 3, 2026 −5.3% +3.3% −13.9% −31.2%
May 4, 2026 +5.2% +0.4% +19.5% +12.5%
February 9, 2026 +40.8% +0.2% +46.4% +39.4%
January 13, 2026 +13.3% −0.7% +35.0% +78.2%
November 3, 2025 −30.7% −1.0% −32.0% −22.6%
August 4, 2025 −27.5% +1.0% −17.1% −17.1%
May 5, 2025 −23.8% −1.4% −12.3% −16.0%
February 4, 2025 +19.4% +1.1% +21.2% +3.3%
January 13, 2025 −3.1% +0.3% −4.2% 0.0%
November 4, 2024 +15.2% +1.0% +20.9% +27.9%
August 6, 2024 +2.9% +0.2% +6.5% +1.0%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Ichor Holdings, LTD. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Ichor Holdings, LTD.
$700M $800M $900M $1B $1.1B $1.2B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $811.1M Revenue (TTM), FY24 Q1: $786.6M Revenue (TTM), FY24 Q2: $804.9M Revenue (TTM), FY24 Q3: $819.2M Revenue (TTM), FY24 Q4: $849M Revenue (TTM), FY25 Q1: $892.1M Revenue (TTM), FY25 Q2: $929.2M Revenue (TTM), FY25 Q3: $957.3M Revenue (TTM), FY25 Q4: $947.7M Revenue (TTM), FY26 Q1: $959.3M Revenue (TTM), FY26 Q2: $1B Revenue (TTM), FY26 Q3: $1.1B $1.1B

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $811.1M
FY24 Q1 $786.6M
FY24 Q2 $804.9M
FY24 Q3 $819.2M
FY24 Q4 $849M
FY25 Q1 $892.1M
FY25 Q2 $929.2M
FY25 Q3 $957.3M
FY25 Q4 $947.7M
FY26 Q1 $959.3M
FY26 Q2 $1B
FY26 Q3 $1.1B
Revenue growth, TTM YoY Ichor Holdings, LTD.
-40% -20% 0% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: -36.6% Revenue growth, TTM YoY, FY24 Q1: -35.1% Revenue growth, TTM YoY, FY24 Q2: -24.7% Revenue growth, TTM YoY, FY24 Q3: -9.9% Revenue growth, TTM YoY, FY24 Q4: 4.7% Revenue growth, TTM YoY, FY25 Q1: 13.4% Revenue growth, TTM YoY, FY25 Q2: 15.4% Revenue growth, TTM YoY, FY25 Q3: 16.9% Revenue growth, TTM YoY, FY25 Q4: 11.6% Revenue growth, TTM YoY, FY26 Q1: 7.5% Revenue growth, TTM YoY, FY26 Q2: 9.1% Revenue growth, TTM YoY, FY26 Q3: 15.2% 15.2%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 -36.6%
FY24 Q1 -35.1%
FY24 Q2 -24.7%
FY24 Q3 -9.9%
FY24 Q4 4.7%
FY25 Q1 13.4%
FY25 Q2 15.4%
FY25 Q3 16.9%
FY25 Q4 11.6%
FY26 Q1 7.5%
FY26 Q2 9.1%
FY26 Q3 15.2%
Operating margin (TTM) Ichor Holdings, LTD.
-6% -4% -2% 0% 2% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: -1.3% Operating margin (TTM), FY24 Q1: -2.5% Operating margin (TTM), FY24 Q2: -2.3% Operating margin (TTM), FY24 Q3: -1.8% Operating margin (TTM), FY24 Q4: -0.9% Operating margin (TTM), FY25 Q1: -0.6% Operating margin (TTM), FY25 Q2: -0.8% Operating margin (TTM), FY25 Q3: -2.8% Operating margin (TTM), FY25 Q4: -4.1% Operating margin (TTM), FY26 Q1: -3.8% Operating margin (TTM), FY26 Q2: -2.4% Operating margin (TTM), FY26 Q3: 1.7% 1.7%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 -1.3%
FY24 Q1 -2.5%
FY24 Q2 -2.3%
FY24 Q3 -1.8%
FY24 Q4 -0.9%
FY25 Q1 -0.6%
FY25 Q2 -0.8%
FY25 Q3 -2.8%
FY25 Q4 -4.1%
FY26 Q1 -3.8%
FY26 Q2 -2.4%
FY26 Q3 1.7%
FCF margin (TTM) Ichor Holdings, LTD.
-10% -5% 0% 5% 10% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 5.2% FCF margin (TTM), FY24 Q1: 7.6% FCF margin (TTM), FY24 Q2: 6.4% FCF margin (TTM), FY24 Q3: 6.4% FCF margin (TTM), FY24 Q4: 1.2% FCF margin (TTM), FY25 Q1: 1.2% FCF margin (TTM), FY25 Q2: -2.0% FCF margin (TTM), FY25 Q3: -2.0% FCF margin (TTM), FY25 Q4: -0.7% FCF margin (TTM), FY26 Q1: -1.7% FCF margin (TTM), FY26 Q2: -2.5% FCF margin (TTM), FY26 Q3: -6.1% -6.1%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 5.2%
FY24 Q1 7.6%
FY24 Q2 6.4%
FY24 Q3 6.4%
FY24 Q4 1.2%
FY25 Q1 1.2%
FY25 Q2 -2.0%
FY25 Q3 -2.0%
FY25 Q4 -0.7%
FY26 Q1 -1.7%
FY26 Q2 -2.5%
FY26 Q3 -6.1%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 291 406 656 824 621 914 1,097 1,280 811 849 948 1,103
Gross profit 49 65 101 136 86 125 177 212 103 103 88 146
EBITDA 23 33 59 87 37 66 107 121 24 23 −6 46
Operating income 13 24 46 64 15 42 81 86 −11 −8 −39 18
Net income 6 17 56 58 11 33 71 73 −43 −21 −53 4
Diluted EPS −$517.68 $0.70 $2.15 $2.30 $0.47 $1.42 $2.45 $2.51 −$1.47 −$0.64 −$1.54 $0.10
Growth (year on year)
Revenue — +39.6% +61.7% +25.6% −24.6% +47.3% +20.0% +16.7% −36.6% +4.7% +11.6% +15.2%
EBITDA — +48.1% +75.9% +48.3% −57.7% +78.6% +62.6% +13.0% −80.4% −2.4% −125.0% —
Operating income — +89.4% +93.5% +38.5% −76.6% +177.4% +95.0% +5.9% −112.7% — — —
Net income — — +238.8% +2.5% −81.5% — +113.0% +2.7% −159.0% — — —
Diluted EPS — — +207.1% +7.0% −79.6% — +72.5% +2.4% −158.6% — — —
Margins
Gross margin 16.7% 16.1% 15.4% 16.5% 13.9% 13.7% 16.2% 16.6% 12.7% 12.2% 9.3% 13.3%
EBITDA margin 7.8% 8.2% 8.9% 10.6% 5.9% 7.2% 9.8% 9.4% 2.9% 2.7% −0.6% 4.2%
Operating margin 4.3% 5.9% 7.0% 7.8% 2.4% 4.5% 7.4% 6.7% −1.3% −0.9% −4.1% 1.7%
Net margin 1.9% 4.1% 8.6% 7.0% 1.7% 3.6% 6.5% 5.7% −5.3% −2.5% −5.6% 0.3%
Free-cash-flow margin 8.7% 5.8% 4.7% 5.7% 7.2% 3.1% −0.5% 0.2% 5.2% 1.2% −0.7% −6.1%
Cash flow
Cash from operations 27 28 39 60 57 38 15 31 58 28 30 −38
Capital spending 1 4 8 14 12 10 21 29 15 18 36 29
Free cash flow 25 23 31 47 45 28 −6 2 42 10 −6 −67
Stock-based pay 1 3 2 8 9 10 11 14 17 16 17 15
Free cash flow after stock pay 24 20 28 39 36 18 −17 −12 25 −5 −23 −83
Balance sheet
Cash — 53 69 — — 253 75 86 80 109 98 214
Total debt — 40 190 205 181 202 295 — 250 129 125 120
Net debt (negative = net cash) — −13 120 — — −51 220 −86 170 21 27 −93
Diluted shares — 2m 26m 25m 23m 23m 29m 29m 29m 33m 34m 36m
Returned to shareholders
Dividends 22 — — — — — — — — — — —
Buybacks — — — 90 2 — — — — — — —
Total returned 22 — — 90 2 — — — — — — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

5 of 7 checks passed · September 25, 2026
What it owns · $1.2bn
Short-term assets $703mLonger-term assets $524m
What it owes, and who funded it · $1.2bn
Short-term liabilities $197mLonger-term liabilities $141mShareholders' equity $888m
  • Short-term assets cover short-term liabilities $703m of assets due within a year against $197m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $703m short-term assets against $141m of longer-dated liabilities.
  • More cash than debt $214m of cash against $119m of debt.
  • Debt below 40% of shareholders' equity Debt is 13% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 55% to 13% over five years.
  • A year's operating cash flow covers at least 20% of debt −$38m of operating cash flow against $119m of debt.
  • Operating profit covers interest at least five times over Operating income of $18m against $5m of interest.

From Ichor Holdings, LTD.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+5.3%
year over year
R&D spending
2.2%
of revenue
Sales & admin spending
8.6%
of revenue
Days sales outstanding
47 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in semiconductors
Last 12 months unless stated ICHR SMTC IPGP MTSI ARRY SYNA Median
Revenue, last 12 months $1.1bn $1.1bn $1.1bn $1.2bn $1.2bn $1.2bn $1.1bn
Revenue growth, last 12 months 15.2% 14.2% 13.0% 28.4% 1.2% 11.4% 14.2%
Revenue growth, 3-year average 6.7% 11.3% −7.9% 19.8% −13.0% −4.0% 4.1%
Revenue growth, latest quarter 37.4% 15.9% 11.1% 35.8% −5.6% 8.9% 20.1%
Gross margin 13.3% 51.6% 38.4% 56.5% 24.3% 44.7% 48.3%
Operating margin 1.7% 2.1% 0.7% 18.1% −5.1% −5.6% 4.8%
Operating margin, 3-year average −1.0% −33.4% −4.6% 13.4% −3.9% −8.3% 4.8%
Net margin 0.3% −3.0% 2.6% 20.7% −7.2% −41.0% 5.3%
Cash from operations / revenue −3.5% 17.4% 9.0% 23.3% 13.7% 12.5% 17.4%
Free-cash-flow margin −6.1% 15.9% 1.9% 17.5% 11.4% 8.5% 9.6%
Free-cash-flow margin, 3-year average −0.6% 7.2% 8.8% 19.5% 13.5% 10.0% 8.5%
Stock pay / revenue 1.4% 7.1% 3.9% 7.2% 1.5% 12.5% 5.8%
Change in share count 5.3% 16.2% −0.3% 1.8% 0.6% −1.0% 0.9%

Median of all 75 companies we cover in semiconductors. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

75 semiconductor companies
Measure Company Peer median Rank
Revenue growth Growth 15.2% 14.2% 36 of 75
Change in growth rate Growth +6.1pp +3.7pp 23 of 75
Gross margin Profitability 13.3% 48.3% 68 of 73
Operating margin Profitability 1.7% 4.8% 45 of 75
Net margin Profitability 0.3% 5.3% 44 of 75
Free-cash-flow margin Cash generation -6.1% 9.6% 58 of 75
Stock pay as % of revenue Cash generation 1.4% 6.4% 12 of 74
Long-term debt as % of assets Balance sheet 9.2% 14.0% 21 of 47
Change in share count Balance sheet 5.3% 0.9% 56 of 72
Days sales outstanding Balance sheet 47 days 58 days 20 of 62

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 26, 2025
Geography
Region Revenue Share YoY
Singapore $432M 45.5% ▲ 22.2%
United States $295M 31.1% ▲ 9.7%
Other Countries $123M 13.0% ▼ 3.9%
Europe $98M 10.3% ▼ 0.8%

From Ichor Holdings, LTD.'s 10-K filed February 20, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$3.8B
Institutions reporting
329
Shares held vs prior quarter
▲ 4.3%
Positions opened / closed
105 / 24

Top buyers and sellers, Q2 2026: 198 institutions bought and 123 sold ; the biggest buyer was Capital International Investors (+2.0M shares) and the biggest seller D. E. Shaw & Co., Inc (−860K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $598M 5.3M 15.8% ▲ 1.7%
Invesco Ltd. $326M 2.9M 8.6% ▲ 57.0%
Vanguard Portfolio Management LLC $232M 2.1M 6.1% ▲ 19.8%
Capital International Investors $229M 2.0M 6.1% New
Vanguard Capital Management LLC $166M 1.5M 4.4% ▲ 2.5%
State Street Corp $153M 1.4M 4.1% ▲ 7.3%
Barrow Hanley Mewhinney & Strauss LLC $133M 1.2M 3.5% ▼ 31.9%
Wellington Management Group LLP $125M 1.1M 3.3% ▲ 54.3%
Geode Capital Management, LLC $115M 1.0M 3.0% ▲ 17.3%
Nuveen, LLC $89.6M 798K 2.4% ▼ 16.7%
Dimensional Fund Advisors LP $87.4M 779K 2.3% ▼ 15.5%
D. E. Shaw & Co., Inc. $73.2M 652K 1.9% ▼ 56.9%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Ichor Holdings, LTD.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $298,100 2 trades by 1 insider, last 12 months Insider sales History → $14M 28 trades by 8 insiders · 39% under pre-set plans
Net ▼ $13.7M net selling
Insider Date Trade Shares Price Value
Ragsdale Bruce Chief Operating Officer October 2, 2026 Sell pre-set plan 2,149 $65.47 $140,695
Swyt Greg Chief Financial Officer October 2, 2026 Sell pre-set plan 689 $65.01 $44,792
Mackenzie Iain Director September 15, 2026 Sell pre-set plan 2,600 $51.59 $134,134
Mackenzie Iain Director September 15, 2026 Sell pre-set plan 17,400 $50.52 $879,048
Swyt Greg Chief Financial Officer September 8, 2026 Sell pre-set plan 2,068 $58.02 $119,985
Ragsdale Bruce Chief Operating Officer September 1, 2026 Sell pre-set plan 200 $53.05 $10,610
Ragsdale Bruce Chief Operating Officer September 1, 2026 Sell pre-set plan 3,931 $52.19 $205,159
Ragsdale Bruce Chief Operating Officer September 1, 2026 Sell pre-set plan 6,456 $51.74 $334,033
Barros Philip Ryan Sr. Chief Executive Officer August 19, 2026 Sell pre-set plan 500 $62.67 $31,335
Barros Philip Ryan Sr. Chief Executive Officer August 19, 2026 Sell pre-set plan 814 $61.39 $49,971
Mackenzie Iain Director August 18, 2026 Sell pre-set plan 400 $68.14 $27,256
Mackenzie Iain Director August 18, 2026 Sell pre-set plan 1,200 $66.81 $80,172

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 3 trades and filings

In the last 12 months, 1 member of Congress disclosed 0 purchases and 1 sale of Ichor Holdings, LTD. shares.

  • Debbie Wasserman Schultz(D-FL 25):Sale (full), $2,722.50, traded June 17, 2026, filed July 14, 2026
  • Debbie Wasserman Schultz(D-FL 25):Purchase, $1,001 - $15,000, traded August 5, 2025, filed August 6, 2025
  • Daniel S. Goldman(D-NY 10):Sale (full), $1,001 - $15,000, traded July 12, 2023, filed August 13, 2023

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around February 8, 2027 estimated from the company's past filing pattern, not announced

  • November 2, 2026
  • August 3, 2026
  • May 4, 2026
  • February 9, 2026
  • January 13, 2026
  • November 3, 2025

Recent SEC filings

Data status

When each part of this page on Ichor Holdings, LTD. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Ichor Holdings, LTD. in brief

What does Ichor Holdings, LTD. do?
Ichor Holdings, LTD. is a US-listed company in the semiconductors industry. Its financial year ends in December.
What is Ichor Holdings, LTD.'s stock ticker?
Ichor Holdings, LTD. trades under the ticker ICHR on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Ichor Holdings, LTD.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Ichor Holdings, LTD. reported revenue of $1.1B, 15.2% higher than a year earlier, according to its SEC filings.
What is Ichor Holdings, LTD.'s free cash flow?
Ichor Holdings, LTD.'s free-cash-flow margin is -6.1% of revenue over the trailing twelve months, ranking 58 of the 75 semiconductor companies we cover.
Who are Ichor Holdings, LTD.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Invesco Ltd. and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Ichor Holdings, LTD.'s market cap?
On November 2, 2026, Ichor Holdings, LTD.'s market capitalisation was about $1.3B, with a price-to-earnings ratio of 375.9 and net debt of -$93.2M. Market figures come from third-party market data and may be delayed.
How much debt does Ichor Holdings, LTD. have?
Ichor Holdings, LTD.'s debt-to-equity ratio is 13.4%, from its latest balance sheet (55.4% five years earlier). The financial health section below sets out its other solvency checks.
Who are Ichor Holdings, LTD.'s competitors?
In our Semiconductors peer group, the companies closest to Ichor Holdings, LTD. are Semtech Corp, IPG Photonics Corp, Macom Technology Solutions Holdings, Inc., Array Technologies, Inc. and Synaptics Inc. The side-by-side comparison below sets their revenue, margins and growth against Ichor Holdings, LTD.'s.
Are insiders buying or selling Ichor Holdings, LTD. stock?
Over the last 12 months, Ichor Holdings, LTD.'s directors and officers reported 2 open-market purchases and 28 sales on Form 4. The insider trading page charts every trade.
When is Ichor Holdings, LTD.'s next earnings date?
Around February 8, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Ichor Holdings, LTD. announces its own schedule.