# Ichor Holdings, Ltd. (ICHR)

> Source: Nexqual · https://nexqual.com/ICHR · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Ichor Holdings, Ltd. (ICHR), nexqual.com/ICHR" · informational, not investment advice.

**Price:** USD 37.86 (-12.64% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 37.86 · day 37–40.25 · 52w 14.06–113.58 · market cap null · NMS

## Key facts
- Last four reported quarters (through Jun 26, 2026): revenue $1.01B, net income -$40.3M (-4.0% margin), free cash flow -$25.6M (SEC filings).
- 1 of 80 tracked superinvestors hold ICHR (13F, Q2 2026): 0 new, 0 added, 1 reduced, 0 unchanged.
- Analysts: Buy (mean 2.00 on a 1–5 scale) (8 analysts), mean target USD 91.63 (range 80–115).
- Total return with dividends: 1Y +71.3% vs S&P 500 +14.9%; 5Y -1.0% vs S&P 500 +80.3%.
- Next earnings: 2026-11-02, EPS estimate USD 0.45, revenue estimate $330M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.10B | $1.28B | $811M | $849M | $948M | $1.01B |
| Gross profit | $177M | $212M | $103M | $103M | $87.8M | — |
| Operating income | $81.0M | $85.8M | -$10.9M | -$7.6M | -$39.3M | -$24.0M |
| Net income | $70.9M | $72.8M | -$43.0M | -$20.8M | -$52.8M | -$40.3M |
| EPS (diluted) | $2.45 | $2.51 | -$1.47 | -$0.64 | -$1.54 | — |
| Free cash flow | -$5.6M | $2.0M | $42.1M | $10.2M | -$6.3M | -$25.6M |
| Gross margin | 16.2% | 16.6% | 12.7% | 12.2% | 9.3% | — |
| Operating margin | 7.4% | 6.7% | -1.3% | -0.9% | -4.1% | -2.4% |
| Net margin | 6.5% | 5.7% | -5.3% | -2.5% | -5.6% | -4.0% |
| Revenue growth | +20.0% | +16.7% | -36.6% | +4.7% | +11.6% | — |
| Cash + short-term investments | — | — | $80.0M | $109M | $98.3M | — |
| Total debt | $293M | $301M | $249M | $129M | $124M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 26, 2026)


## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold ICHR. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Lee Ainslie | Maverick Capital | 0.01% | $659K | Reduced -76.0% |

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 8 analysts; mean target USD 91.63 (low 80, high 115).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-09 | Freedom Broker | Initiated | Buy | $82 |
| 2026-08-04 | TD Cowen | Target lowered | Buy | $115 → $100 |
| 2026-08-04 | Oppenheimer | Target raised | Perform | $60 → $80 |
| 2026-08-04 | B. Riley Securities | Target lowered | Buy | $125 → $105 |
| 2026-08-04 | Needham | Target raised | Buy | $72 → $88 |
| 2026-07-10 | Stifel | Target raised | Buy | $76 → $115 |
| 2026-07-09 | TD Cowen | Target raised | Buy | $80 → $115 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +71.3% | -1.0% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +71.6% | -0.2% |
| Volatility (annualized) | 98.3% | 67.7% |
| Max drawdown | -66.3% (Jun 2026→Oct 2026) | -70.2% (Nov 2021→Nov 2025) |

## Peers
UCTT (Ultra Clean Holdings, Inc.) USD 44.46 -14.86% · MXL (MaxLinear, Inc) USD 65.28 -13.87% · COHU (Cohu, Inc.) USD 46.26 -16.33% · ONTO (Onto Innovation Inc.) USD 198.67 -10.57% · AOSL (Alpha and Omega Semiconductor L) USD 22.3 -6.42%

## More
Full page: https://nexqual.com/ICHR · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by region (quarter ended 2026-03-27)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Singapore | $128.8M | 50.3% | +18.1% |
| United States of America | $69.0M | 27.0% | -9.0% |
| Other | $39.7M | 15.5% | +15.4% |
| Europe | $18.5M | 7.2% | -26.4% |
| Total revenue | $256.1M | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.45 | $0.41 | +9.9% | $330.1M | 8 |
| Next quarter (ends 2026-12-31) | $0.63 | $0.51 | +23.5% | $364.3M | 8 |
| Current fiscal year (ends 2026-12-31) | $1.58 | $1.38 | +14.3% | $1.25B | 8 |
| Next fiscal year (ends 2027-12-31) | $3.29 | $2.69 | +22.0% | $1.66B | 8 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-02): ±24.0%; last 8 reports averaged ±20.8%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 107.4% | ±24.0% |
| 2026-12-18 | 56 | 95.5% | ±29.8% |
| 2027-02-19 | 119 | 83.0% | ±37.5% |
| 2027-05-21 | 210 | 87.3% | ±51.8% |