Ultra Clean Holdings, Inc.

Technology
Semiconductors
www.uct.com

Earnings Score
Moat Score

Market Cap $1.66B
PE 460
Debt -
Cash $318.20M
EV -
FCF $20.40M

Earnings

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Sales & Net Margins

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Earnings	$3.60M
EBIT	$69.80M
ROE	0%
ROA	4%
FCF	$20.40M
Equity	$922.40M
Growth Stability	-39%
PE	459.95
PEG	-18.24
PB	1.8
P/FCF	81.17
P/S	0.84
Price/Cash	0.19
Net Margins	0%
Gross Margins	17%
Op. Margins	4%
Earnings CAGR	-4%
Sales Growth YoY	24%
Sales Growth QoQ	5%
Sales CAGR	19%
FCF CAGR	6%
Equity CAGR	22%
Earnings Stability	0.01
Earnings Growth YoY	-84%

Earnings Growth QoQ	-112%
Earnings CAGR 5Y	-25%
Sales CAGR 5Y	13%
FCF CAGR 5Y	-11%
Equity CAGR 5Y	17%
Earnings CAGR 3Y	-9%
Sales CAGR 3Y	-9%
FCF CAGR 3Y	-17%
Equity CAGR 3Y	-0%
Market Cap	$1.66B
Revenue	$1.98B
Assets	$1.95B
Cash	$318.20M
Shares Outstanding	44.8M
Earnings Score	6%
Moat Score	31%
Working Capital	627M
Current Ratio	2.75
Gross Profit	$335.50M
Shares Growth 3y	0%
Equity Growth QoQ	1%
Equity Growth YoY	3%

Assets & ROA

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Stockholders Equity & ROE

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Ultra Clean Holdings Inc, through its subsidiaries, manufactures and supplies production tools, modules, and subsystems for the semiconductor capital equipment industry. The product range includes precision robotic solutions, gas delivery systems, and a variety of industrial and automation production equipment products; subsystems that include wafer cleaning subsystems, chemical delivery modules, top-plate assemblies, frame assemblies, and process modules. Its customer base includes firms in the semiconductor capital equipment industry, medical, energy, industrial, flat panel, and research equipment industries. Its principal markets are North America, Asia, and Europe. Its largest end markets by revenue are the United States and the International market.

SEC Filings

Direct access to Ultra Clean Holdings, Inc. (UCTT) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 27
- 10-Q Jun 28
- 10-Q Mar 29
2023
- 10-K Dec 29
- 10-Q Sep 29
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 30
- 10-Q Sep 30
- 10-Q Jul 01
- 10-Q Apr 01

Sector Comparison

How does Ultra Clean Holdings, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Ultra Clean Holdings, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR -4%

Stability 1%

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Ultra Clean Holdings, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Ultra Clean Holdings, Inc..

Years

Calculation mode

= $301M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$20M	$22M	$23M	$24M	$25M	$27M	$28M	$30M	$32M	$34M	$35M	$354M
DCF		$20M	$19M	$18M	$17M	$17M	$16M	$15M	$15M	$14M	$14M	$137M
Value	$301M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	-2%	2%	8%	3%	-1%	6%	6%	2%	-2%	0%
ROA	-	6%	16%	6%	3%	11%	9%	6%	2%	4%
ROE	-	5%	25%	8%	-2%	14%	13%	4%	-3%	0%

Bad Net Margins (0.48%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	-	-	-	3.19	4.55	3.71	-9.91	-	-
Debt over Equity	0.38	-	-	-	0.67	0.5	0.63	0.56	-	-
Growth Stability	-	-	-	100%	-23%	100%	100%	65%	-39%	-39%

Neutral Debt/FCF ratio (-)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Neutral Debt/Equity ratio (-)

The company has a balance between equity and debt that is not too good nor too bad.

Bad Graham’s Stability (-39%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	20%	64%	19%	-3%	31%	50%	13%	-27%	13%
Earnings YoY growth	-	-194%	647%	-51%	-126%	-926%	54%	-66%	-177%	-25%
Equity YoY growth	-	8%	39%	50%	0%	22%	62%	5%	-4%	17%
FCF YoY growth	-	-212%	218%	-53%	509%	-36%	150%	-135%	-214%	-11%