ICHRNasdaqSemiconductors & Related DevicesFiscal year ends December 27
ICHOR HOLDINGS, LTD.
Financials through Q2 FY2026, quarter ended Jun 26, 2026Last filing: 10-Q on Aug 4, 2026
$43.92+1.81 (+4.30%)
Close on Oct 19, 2026
- Market cap
- $1.59B
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2014 to 2025
Gross margin
9.3%−4.4 pts over 5 years
Operating margin
-4.1%−8.7 pts over 5 years
Net margin
-5.6%−9.2 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +11.6% | -9.5% | +0.7% | +12.5% | |
| Gross profit | -15.1% | -25.5% | -6.8% | +6.1% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 15.4% | 10.5% | -7.7% | |
| Return on assets | – | 5.0% | -5.4% | |
| Current ratio | 1.55 | 3.06 | 3.16 | |
| Debt to equity | 0.27 | 0.49 | 0.19 | |
| Net debt to EBITDA | -0.44× | -0.80× | -4.38× | |
| Interest coverage | 5.5× | 4.8× | -5.9× | |
| Inventory turnover | – | 6.0× | 3.6× | |
| Capex to revenue | 1.1% | 1.1% | 3.8% | |
| Diluted shares | 2M | 23M | 34M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Ichor generated $162.12M from operations and spent $119.57M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$162.12M
Used
$119.57M
Capital expenditure$119.57M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-5.6%
×Asset turnover0.98×
×Equity multiplier1.42×
=Return on equity, FY2025-7.7%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -5.6% | 0.98× | 1.42× | -7.7% |
| FY2024 | -2.5% | 0.88× | 1.53× | -3.3% |
| FY2023 | -5.3% | 0.80× | 1.76× | -7.5% |
| FY2022 | 5.7% | 1.22× | 1.93× | 13.4% |
| FY2021 | 6.5% | 1.22× | 1.97× | 15.5% |
| FY2020 | 3.6% | 1.36× | 2.12× | 10.5% |
| FY2019 | 1.7% | 1.18× | 2.51× | 5.1% |
| FY2018 | 7.0% | 1.58× | 2.51× | 27.9% |
| FY2017 | 8.6% | 1.56× | 2.34× | 31.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-$52.78M
- Cash generatingOperating cash flow above zero$29.89M
- Return on assets improvedROA up on the prior year-2.2% → -5.3%
- Earnings backed by cashOperating cash flow above net income$29.89M vs -$52.78M
- Less leverageLong-term debt to assets fell12.2% → 12.4%
- Better liquidityCurrent ratio rose3.34 → 3.16
- No dilutionShare count did not rise33M → 34M
- Gross margin improvedGross margin up on the prior year12.17% → 9.26%
- More efficientAsset turnover rose0.90 → 0.95