Ultra Clean Holdings, Inc. UCTT
Ultra Clean Holdings, Inc., ("UCT", the "Company" or "We") is a leading developer and supplier of critical subsystems, components, parts, and ultra-high purity cleaning and analytical services primarily for the semiconductor industry. UCT offers its customers an integrated outsourced solution for major subassemblies, improved design-to-delivery cycle times, design for manufacturability, prototyping and part and component manufacturing, as well as tool chamber parts cleaning and coating, and micro-contamination analytical services. We report results for two segments: Products and Services. Our Products segment primarily designs, engineers and manufactures production tools, components and parts, and modules and subsystems for the semiconductor and display capital equipment markets. Products include chemical delivery modules, frame assemblies, gas delivery systems, fluid delivery systems, precision robotics, process modules as well as other high-level assemblies. Our Services segment provides ultra-high purity parts cleaning, process tool part recoating, surface encapsulation and high sensitivity micro contamination analysis primarily for the semiconductor device makers and wafer fabrication equipment ("WFE") markets.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.05B | $2.10B | $1.73B | $2.37B | $2.10B | $1.40B | $1.07B | $1.10B | $924.4M | $562.8M |
| Cost of revenue | $1.73B | $1.74B | $1.46B | $1.91B | $1.67B | $1.11B | $869.4M | $920.7M | $756.7M | $476.0M |
| Gross profit | $322.9M | $356.3M | $277.3M | $465.0M | $430.0M | $291.8M | $196.8M | $175.8M | $167.7M | $86.8M |
| R&D | $32.0M | $28.3M | $28.3M | $28.5M | $24.5M | $14.8M | $14.6M | $13.3M | $11.7M | $9.9M |
| SG&A | $186.0M | $179.5M | $162.0M | $184.3M | $171.6M | $130.5M | $129.9M | $85.5M | $52.8M | $42.9M |
| Total operating expenses | $430.3M | $265.1M | $242.1M | $344.6M | $244.3M | $170.4M | $166.9M | $115.1M | $78.2M | $64.4M |
| Operating income | -$107.4M | $91.2M | $35.2M | $120.4M | $185.7M | $121.4M | $29.9M | $60.7M | $89.5M | $22.4M |
| Interest expense | $38.3M | $46.5M | $48.8M | $33.9M | $24.2M | $16.9M | $25.6M | $10.0M | $2.2M | — |
| Pre-tax income | -$145.7M | $67.2M | -$11.3M | $88.3M | $154.3M | $99.7M | $2.3M | $52.3M | $87.0M | $18.9M |
| Income tax | $25.9M | $32.7M | $10.9M | $37.9M | $27.9M | $19.3M | $10.0M | $15.3M | $11.9M | $8.9M |
| Net income | -$181.2M | $23.7M | -$31.1M | $40.4M | $119.5M | $77.6M | -$9.4M | $36.6M | $75.1M | $10.1M |
| EPS, basic | -4.00 | 0.53 | -0.70 | 0.89 | 2.75 | 1.93 | -0.24 | 0.95 | 2.25 | 0.31 |
| EPS, diluted | -4.00 | 0.52 | -0.70 | 0.88 | 2.69 | 1.89 | -0.24 | 0.94 | 2.19 | 0.30 |
| Shares, diluted (wtd. avg.) | $45.3M | $45.3M | $44.7M | $45.7M | $44 | $41 | $40 | $39 | $34 | $33.1M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $311.8M | $313.9M | $307.0M | $358.8M | $466.5M | $200.3M | $162.5M | $144.1M | $68.3M | $52.5M |
| Receivables | $208.8M | $241.1M | $180.8M | $253.7M | $250.1M | $145.5M | $112.7M | $107.0M | $90.2M | $74.7M |
| Inventory | $390.9M | $381.0M | $374.5M | $443.9M | $379.2M | $180.4M | $172.4M | $186.1M | $236.8M | $103.9M |
| Total current assets | $959.7M | $970.1M | $893.2M | $1.10B | $1.14B | $545.1M | $467.0M | $462.9M | $407.4M | $237.4M |
| Property, plant and equipment | $324.6M | $325.9M | $328.3M | $279.6M | $242.3M | $159.2M | $145.3M | $143.5M | $32.2M | $18.9M |
| Goodwill | $114.2M | $265.3M | $265.2M | $248.8M | $270.0M | $171.1M | $171.1M | $150.2M | $85.2M | $85.2M |
| Other intangibles | $156.8M | $184.9M | $215.3M | $187.9M | $245.7M | $160.5M | $180.3M | $193.5M | $31.6M | $37.0M |
| Total assets | $1.73B | $1.92B | $1.87B | $1.96B | $1.87B | $1.10B | $1.02B | $965.5M | $563.4M | $380.7M |
| Accounts payable | $194.9M | $212.5M | $192.9M | $253.5M | $332.9M | $121.3M | $133.1M | $99.0M | $173.5M | $71.2M |
| Total current liabilities | $300.7M | $335.6M | $310.0M | $389.2M | $469.1M | $201.2M | $210.6M | $139.3M | $207.3M | $101.1M |
| Long-term debt | $481.4M | $499.7M | — | $485.3M | $565.4M | $276.9M | $301.9M | — | — | — |
| Total liabilities | $944.9M | $984.1M | $970.5M | $1.02B | $1.13B | $551.3M | $566.8M | $514.5M | $263.1M | $164.6M |
| Retained earnings | $189.2M | $370.4M | $346.7M | $377.8M | $337.4M | $217.9M | $140.3M | $149.7M | $113.1M | $38.0M |
| Total equity | $711.0M | $873.6M | $897.2M | $937.0M | $892.7M | $551.2M | $452.5M | $451.0M | $300.3M | $216.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $65.6M | $65.0M | $135.9M | $47.2M | $211.6M | $97.3M | $121.0M | $41.7M | $48.9M | $17.6M |
| Stock-based compensation | $19.2M | $17.4M | $12.1M | $19.1M | $15.8M | $12.7M | $12.1M | $10.3M | $7.8M | $5.7M |
| Capital expenditure | $50.3M | $63.5M | $75.8M | $100.1M | $59.3M | $36.4M | $26.3M | $26.1M | $16.1M | $7.3M |
| Investing cash flow | -$47.0M | -$63.5M | -$119.7M | -$96.2M | -$404.8M | -$29.8M | -$49.2M | -$345.9M | -$16.1M | -$7.3M |
| Financing cash flow | -$21.2M | $9.8M | -$69.9M | -$56.0M | $460.8M | -$31.1M | -$53.4M | $380.1M | -$17.1M | -$7.9M |
| Buybacks | $3.4M | $0 | $29.4M | $12.1M | $0 | $0 | — | $3.3M | $3.3M | $3.3M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-016813.
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