ICHOR HOLDINGS, LTD.

Listed Company

ICHRCIK 0001652535NasdaqLarge AcceleratedSemiconductors & Related DevicesE9FY ends Dec 27

Period

FY 2025

Revenue

$947.65M

Net Income

$-52.78M

Total Assets

$942.88M

Equity

$663.89M

Shares Out

34.64M

Op. Cash Flow

$29.89M

Business

ICHOR HOLDINGS, LTD. designs, engineers, and manufactures critical fluid delivery subsystems and components for semiconductor capital equipment. It offers gas delivery subsystems, chemical delivery products and process modules, weldments and specialty joining technologies, and precision‑machined components and surface treatments for semiconductor and select non‑semiconductor markets. Its business comprises integrated fluid delivery systems and a vertically integrated components and precision machining division that supports both gas and chemical systems. The company sells primarily direct to equipment OEMs worldwide and operates manufacturing and service facilities across North America, Asia, and Europe.

Summary from filing dated 2025-02-21

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	948	849	811	1,280	1,097
Cost of sales	860	746	708	1,068	919
Gross profit	88	103	103	212	177
Research and development	23	23	20	20	16
Selling, general, and administrative	96	79	79	89	66
Amortization of intangible assets	8	9	15	18	15
Total operating expenses	127	111	114	126	96
Operating loss	−39	−8	−11	86	81
Interest expense, net	7	9	19	11	—
Other expense, net	2	1	804,000	−563,000	807,000
Loss before income taxes	−48	−18	−31	75	74
Income tax expense	5	3	12	3	3
Net loss	−53	−21	−43	73	71
Net income per share basic (in usd per share)	−1.54	−0.64	−1.47	2.54	2.51
Net income per share diluted (in usd per share)	−1.54	−0.64	−1.47	2.51	2.45
Shares used to compute net income per share, basic (in shares)	34	33	29	29	28
Shares used to compute net income per share, diluted (in shares)	34	33	29	29	29

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	98	109	80	86	75
Accounts receivable, net	71	87	67	136	143
Inventories	232	250	246	284	236
Prepaid expenses and other current assets	10	7	9	7	8
Total current assets	410	453	401	513	463
Property and equipment, net	104	95	93	98	85
Operating lease right-of-use assets	35	44	37	41	30
Other non-current assets	14	15	12	13	9
Deferred tax assets, net	4	4	3	11	8
Intangible assets, net	40	49	57	72	90
Goodwill	335	335	335	335	336
Total assets	943	996	938	1,084	1,021
Accounts payable	84	92	60	110	160
Accrued liabilities	17	16	15	24	19
Other current liabilities	11	9	7	16	14
Current portion of long-term debt	6	8	8	8	8
Current portion of lease liabilities	11	11	9	9	8
Total current liabilities	130	136	99	166	208
Long-term debt, less current portion, net	117	121	241	293	285
Lease liabilities, less current portion	25	34	28	32	22
Deferred tax liabilities, net	2	2	1	29,000	38,000
Other non-current liabilities	5	5	4	5	4
Total liabilities	279	297	374	496	520
Preferred shares ($0.0001 par value; 20,000,000 shares authorized; zero shares issued and outstanding)	0	0	0	0	—
Ordinary shares ($0.0001 par value; 200,000,000 shares authorized; 34,433,776 and 33,859,542 shares outstanding, respectively; 38,871,215 and 38,296,981 shares issued, respectively)	3,000	3,000	3,000	3,000	3,000
Additional paid in capital	624	606	452	431	417
Treasury shares at cost (4,437,439 shares)	−92	−92	−92	−92	—
Retained earnings	131	184	205	248	175
Total shareholders equity	664	698	565	587	501
Total liabilities and shareholders equity	943	996	938	1,084	1,021

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	34	31	35	35	26
Inventory Impairment	20	0	0	—	—
Share-based compensation	17	16	17	14	11
Impairment of lease right-of-use assets	2	0	0	—	—
Deferred income taxes	385,000	−782,000	9	−3	−2
Loss on disposal of equipment	475,000	0	0	—	—
Amortization of debt issuance costs	426,000	465,000	465,000	465,000	883,000
Loss on extinguishment of debt	169,000	0	0	0	737,000
Accounts receivable, net	16	−20	70	7	−33
Inventories	−2	−4	38	−48	−89
Prepaid expenses and other assets	8	2	10	5	786,000
Accounts payable	−6	29	−51	−50	39
Accrued liabilities	2	929,000	−10	4	−7
Other liabilities	−9	−6	−18	−5	−3
Net cash provided by operating activities	30	28	58	31	15
Capital expenditures	−36	−18	−15	−29	−21
Net cash used in investing activities	−36	−18	−15	−29	−290
Issuance of ordinary shares, net of fees	0	137	0	0	—
Issuance of ordinary shares under share-based compensation plans	6	8	8	4	10
Employees' taxes paid upon vesting of restricted share units	−4	−5	−4	−3	−4
Debt issuance and modification costs	−1	0	0	0	−2
Repayments on revolving credit facility	0	−115	−45	−10	−42
Proceeds from term loan	57	0	0	0	94
Repayments on term loan	−61	−6	−8	−8	−97
Net cash provided by (used in) financing activities	−4	18	−49	8	97
Net increase (decrease) in cash	−10	29	−7	11	−177
Cash paid during the period for interest	9	12	20	11	7
Cash paid during the period for taxes, net of refunds	3	3	4	3	6
Capital expenditures included in accounts payable	4	5	625,000	2	930,000
Right-of-use assets obtained in exchange for new operating lease liabilities, including those acquired through acquisitions	1	16	5	—	—

Filings

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