Ichor Holdings

ICHR

Semiconductors · Technology

Price

$82.87

-0.87 (-1.04%)

Market Cap

$2.89B

Exchange

NASDAQ

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Share count rising — dilution

+18.1% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 29.0M (2021) → 34.2M (2025)

Ichor Holdings, Ltd. engages in the design, engineering, and manufacture of fluid delivery subsystems and components for semiconductor capital equipment. It primarily offers gas and chemical delivery systems and subsystems that are used in the manufacturing of semiconductor devices. The company's 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 l

Winston Score History

Politician Trades

3 trades / 12mo

1 Congressional buy and 2 sells on ICHR in the last 12 months.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+4.7% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+45.2% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$23M/ year

→ Flat (+0% vs prior year)

2.4% of revenue

Below sector average (15%)

Steady R&D investment year-over-year

Insider Activity

2.8%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~2 years

$89M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

$89M cash & investments at current burn rate

Growth context

Ichor Holdings is growing revenue at 5% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

11.6%

Thin — 11.6% gross margin

Operating Margin

1.1%

Thin — 1.1% operating margin

ROCE

0.4%

Weak — 0.4% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

+7.5%

Steady sales growth (7.5% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-1.7%

Burning cash (-1.7%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.06

Conservative — low debt load (0.06)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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