Ichor Holdings, Ltd. (ICHR)

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.

Ticker: ICHR
Exchange: Nasdaq
Sector: Technology
Industry: Semiconductor Equipment & Materials
Market cap: $1.16B
52-week range: $14.06 - $113.58

Valuation

Share price: $30.97 (close of Nov 6, 2026)
P/E (TTM): 516.17x
Price to book: 1.31x
Price to free cash flow: -17.30x
Enterprise value: $1.10B
Book value per share: $23.64

Price performance

Period	Change
1 day	+10.49%
5 days	-20.39%
1 month	-50.40%
3 months	-52.59%
6 months	-57.29%
Year to date	+68.04%
1 year	+105.24%
3 years	+21.07%
5 years	-34.16%
All time	+216.99%

Short interest

As of: Oct 15, 2026
Short % of float: 8.36%
Shares short: 2.66M
Days to cover: 3.49
Change since prior report: -16.13%
Source: FINRA consolidated short interest

Profitability and growth

Return on equity: -7.95%
Return on invested capital: -4.77%
Return on assets: -5.60%
Return on capital employed: -4.83%
Gross margin: 9.26%
Net margin: -5.57%
EBITDA margin: -0.61%
Revenue growth: 11.61%
Free cash flow growth: -161.33%

Cash flow and balance sheet

Free cash flow yield (TTM): -5.78%
Current ratio: 3.56x
Net debt to EBITDA: -1.24x

Latest reported year

Period end: Dec 26, 2025
Fiscal year: 2025
Revenue: $947.65M
Cost of revenue: $859.88M
Gross profit: $87.78M
EBITDA: -$5.77M
Net income: -$52.78M
Earnings per share: $-1.54
Research and development: $23.09M
Interest expense: $6.62M
Shares outstanding: 34.23M

Income statement by year

Period end	Revenue	Gross profit	Net income	EPS
2025-12-26	$947.65M	$87.78M	-$52.78M	-$1.54
2024-12-27	$849.04M	$103.33M	-$20.82M	-$0.64
2023-12-29	$811.12M	$103.40M	-$42.98M	-$1.47
2022-12-30	$1.28B	$211.86M	$72.80M	$2.54
2021-12-31	$1.10B	$177.48M	$70.90M	$2.51
2020-12-25	$914.24M	$124.89M	$33.28M	$1.44
2019-12-27	$620.84M	$86.36M	$10.73M	$0.48
2018-12-28	$823.61M	$136.14M	$57.88M	$2.34
2017-12-29	$655.89M	$100.76M	$56.45M	$2.25
2016-12-30	$405.75M	$65.39M	$16.66M	$0.92

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2025-12-26	9.26%	-5.57%	-7.95%	-4.77%
2024-12-27	12.17%	-2.45%	-2.98%	-0.88%
2023-12-29	12.75%	-5.30%	-7.61%	-1.28%
2022-12-30	16.55%	5.69%	12.39%	8.96%
2021-12-31	16.18%	6.46%	14.16%	9.49%
2020-12-25	13.66%	3.64%	8.08%	6.68%
2019-12-27	13.91%	1.73%	4.85%	3.62%
2018-12-28	16.53%	7.03%	29.19%	15.33%
2017-12-29	15.36%	8.61%	26.04%	11.44%
2016-12-30	16.12%	4.11%	11.76%	13.29%

Cash and debt by year

Period end	Cash	Debt
2025-12-26	$98.29M	$117.28M
2024-12-27	$108.67M	$121.02M
2023-12-29	$79.95M	$241.18M
2022-12-30	$86.47M	$293.22M
2021-12-31	$75.50M	$285.25M
2020-12-25	$252.90M	$191.52M
2019-12-27	-	$169.30M
2018-12-28	-	$192.12M
2017-12-29	-	$180.25M
2016-12-30	-	$37.94M

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-26	-$6.28M	$16.73M
2024-12-27	$10.24M	$15.58M
2023-12-29	$42.14M	$17.34M
2022-12-30	$2.02M	$13.92M
2021-12-31	-$5.57M	$11.47M
2020-12-25	$27.96M	$9.88M
2019-12-27	$44.81M	$8.54M
2018-12-28	$46.55M	$7.58M
2017-12-29	$30.58M	$2.23M
2016-12-30	$23.46M	$3.22M

Investor relations

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-11-02	Sep 2026	$0.35
2026-08-03	Jun 2026	$0.21
2026-05-04	Mar 2026	$0.04
2026-02-09	Dec 2025	-$0.16
2025-11-03	Sep 2025	$0.01
2025-08-04	Jun 2025	$0.03
2025-05-05	Mar 2025	$0.14
2025-02-04	Dec 2024	-$0.05

Filings and sources

Company website: ichorsystems.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

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