ICHR
TechnologyIchor Holdings, Ltd. · Semiconductors · $2B
What is Ichor Holdings, Ltd.?
Ichor Holdings designs, engineers, and manufactures fluid delivery subsystems for semiconductor capital equipment. Headquartered in Fremont, California, the company serves equipment OEMs across the United States and key international markets including Singapore, Korea, and Malaysia.
Ichor generates revenue by supplying gas and chemical delivery systems to semiconductor equipment manufacturers. Its gas delivery subsystems control and monitor the gases used in etch and deposition processes, while its chemical delivery subsystems blend and dispense liquid chemistries for processes such as chemical-mechanical planarization and electroplating. The company also produces precision machined components and proprietary welded parts used within broader fluid delivery systems.
Ichor Holdings was incorporated in 1999 and is headquartered in Fremont, California.
- Gas delivery subsystems for semiconductor etch and deposition
- Chemical delivery subsystems for planarization and electroplating
- Precision machined components and weldments
- Electron beam and laser-welded specialty components
Is ICHR a Good Stock to Buy?
UQS Score rates ICHR as Below Average overall.
The Risk pillar stands out as a relative bright spot, suggesting the balance sheet and financial stability profile compares reasonably well within the sector. Valuation is rated Good, meaning the stock does not appear expensive relative to its fundamentals — a consideration for investors weighing entry points.
Both the Quality and Moat pillars are rated Weak, pointing to limited competitive differentiation and below-average returns on capital. Growth is rated Neutral, offering little near-term catalyst.
See the exact pillar breakdown and full financial metrics by signing up for a UQS Pro account. Sign up free →
Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does ICHR pay dividends?
No — Ichor Holdings, Ltd. does not currently pay a dividend.
Ichor Holdings does not currently pay a dividend. As a capital-equipment supplier operating in a cyclical industry, the company retains earnings to fund operations and navigate the inherent ups and downs of semiconductor equipment spending cycles. Income-focused investors should factor this into their assessment.
When does ICHR report earnings?
Ichor Holdings reports earnings on a quarterly cadence, typical for US-listed equities.
Results tend to track closely with broader semiconductor equipment spending trends, making each quarter a useful read on end-market demand. Revenue and margin dynamics can shift meaningfully as OEM customers adjust capital expenditure plans.
For the most recent quarter's results, visit Ichor Holdings' investor relations page directly.
ICHR Price History
+14.7% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Ichor Holdings, Ltd.?
Based on Ichor Holdings, Ltd.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
ICHR Long-term Outlook
With Growth rated Neutral and Risk rated Strong, Ichor's near-term trajectory appears stable but not particularly expansive. The company's fortunes are closely tied to capital equipment spending by major semiconductor manufacturers — a dynamic that can produce sharp recoveries as well as prolonged downturns. The Weak Moat rating suggests limited pricing power to buffer against cyclical pressure.
Growth drivers
- Recovery in semiconductor capital equipment spending cycles
- Expanding geographic presence across Asia-Pacific OEM customers
- Increasing complexity of fluid delivery requirements in advanced chip manufacturing
Key risks
- Cyclical downturns in semiconductor equipment demand
- Limited competitive moat leaving revenue vulnerable to customer consolidation
- Dependence on a concentrated OEM customer base
ICHR vs Peers
Ichor operates in a broader semiconductor technology ecosystem alongside companies that address different parts of the chip-making supply chain.
MaxLinear focuses on high-speed semiconductor chips for broadband and data infrastructure, competing for investor attention in the semiconductor space but serving a different end market than Ichor's fluid delivery hardware.
Ambarella designs AI-powered vision processing chips for edge devices, representing a fabless semiconductor model that contrasts with Ichor's equipment-subsystem manufacturing approach.
Veeco manufactures process equipment used in semiconductor and compound semiconductor fabrication, making it a closer peer to Ichor within the capital equipment supply chain.
Frequently Asked Questions
What does Ichor Holdings do?
Ichor Holdings designs and manufactures fluid delivery subsystems — including gas and chemical delivery systems — used inside semiconductor capital equipment. Its products help control the gases and liquid chemistries that are essential to chip fabrication processes such as etch, deposition, and chemical-mechanical planarization.
Does ICHR pay dividends?
No, Ichor Holdings does not currently pay a dividend. The company retains its earnings rather than distributing them to shareholders, which is common among capital equipment suppliers operating in cyclical industries where cash preservation matters during downturns.
When does ICHR report earnings?
Ichor Holdings follows a standard quarterly earnings cadence. The exact dates for upcoming reports are not available through our data source — check the company's investor relations page or a financial calendar for confirmed dates.
Is ICHR a good stock to buy?
UQS Score rates ICHR as Below Average overall. The Valuation pillar is rated Good and Risk is rated Strong, but both Quality and Moat are rated Weak. Whether that profile suits your portfolio depends on your risk tolerance and investment horizon. The full pillar breakdown is available to Pro members.
Is ICHR overvalued?
The UQS Valuation pillar for ICHR is rated Good, suggesting the stock does not appear expensive relative to its fundamentals at current levels. That said, valuation alone does not determine quality — the Weak Quality and Moat ratings are important context for any valuation assessment.
How does ICHR compare to its competitors?
Among the peers tracked by UQS Score — including Veeco Instruments, MaxLinear, and Ambarella — Ichor occupies a distinct niche as a fluid delivery subsystem supplier rather than a chip designer or process equipment maker. Competitive positioning details are available in the full UQS analysis.
What is ICHR's market cap bracket?
Ichor Holdings is classified as a mid-cap company. This places it in a segment of the market that can offer more growth potential than large-caps but with greater volatility than mega-cap peers, particularly given the cyclical nature of semiconductor equipment spending.
Who founded Ichor Holdings?
Ichor Holdings was incorporated in 1999. Detailed founding history, including key individuals involved in establishing the company, is publicly available through the company's official filings and investor relations materials.
Is ICHR a long-term quality indicator?
As a long-term quality indicator, ICHR's Below Average UQS Score — driven by Weak Quality and Moat ratings — suggests the company currently lacks the durable competitive advantages typically associated with high-quality long-term holdings. The Strong Risk rating offers some stability, but the overall profile warrants careful consideration.
What sector does ICHR belong to?
Ichor Holdings operates in the Technology sector, specifically within the semiconductor capital equipment supply chain. It serves as a subsystem and component supplier to OEM equipment makers, making its business closely tied to the capital spending cycles of major chipmakers worldwide.
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Pro Analysis
ICHR — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 16, 2026 | 31.2 | 2.5 | 15.0 | 51.1 | 45.4 | 65.5 | +0.1 |
| May 13, 2026 | 31.1 | 2.5 | 15.0 | 51.1 | 45.4 | 64.8 | -3.9 |
| May 7, 2026 | 35.0 | 2.5 | 15.0 | 44.2 | 82.4 | 62.6 | -0.3 |
| May 3, 2026 | 35.3 | 2.5 | 15.0 | 44.2 | 82.4 | 64.7 | +0.3 |
| Apr 26, 2026 | 35.0 | 2.5 | 15.0 | 44.2 | 82.4 | 62.9 | -0.2 |
| Apr 21, 2026 | 35.2 | 2.5 | 15.0 | 44.2 | 82.4 | 64.3 | +0.3 |
| Apr 19, 2026 | 34.9 | 2.5 | 15.0 | 43.2 | 82.4 | 63.7 | -0.3 |
| Apr 14, 2026 | 35.2 | 2.5 | 15.0 | 43.2 | 82.4 | 65.3 | -0.1 |
| Apr 12, 2026 | 35.3 | 2.5 | 15.0 | 43.2 | 82.4 | 66.3 | -0.6 |
| Apr 5, 2026 | 35.9 | 2.5 | 15.0 | 43.2 | 82.4 | 70.4 | -0.1 |
ICHR — Pillar Breakdown
Quality
— 2.5/100 (25%)Ichor Holdings, Ltd. currently shows below-average quality metrics, suggesting challenges with profitability.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 51.1/100 (20%)Ichor Holdings, Ltd. shows steady but unspectacular growth, typical for mature companies.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 45.4/100 (15%)Ichor Holdings, Ltd. has some risk factors including moderate leverage or solvency concerns.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 66.8/100 (15%)Ichor Holdings, Ltd. trades at a reasonable valuation with decent earnings yield and FCF multiples.
Inverse of forward P/E — higher yield means cheaper stock.
P/E relative to earnings growth — lower is more attractive.
Moat
— 15/100 (25%)Ichor Holdings, Ltd. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for ICHR.
Score Composition
Financial Data
More Stock Analysis
How is the ICHR UQS Score Calculated?
The UQS (Unified Quality Score) for Ichor Holdings, Ltd. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Ichor Holdings, Ltd.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Ichor Holdings, Ltd. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.