ICHOR HOLDINGS, LTD.ICHR

ICHOR HOLDINGS, LTD. Segments Disclosure

10-KFiled Feb 20, 20262 min read
Note 10 – Segment Information
We operate as a single business operating segment, which includes all activities related to the design, engineering, and manufacturing of critical fluid delivery subsystems and components for semiconductor capital equipment. Accordingly, we report as one reportable segment. The determination of a single business operating segment is consistent with the consolidated financial information regularly provided to our chief operating decision maker (“CODM”). The consolidated financial information provided to our CODM does not contain significant disaggregated expenses outside of what is already disclosed in our statements of operations and notes thereto included in these consolidated financial statements. Our CODM is our Chief Executive Officer, and the CODM reviews and evaluates consolidated net income for purposes of assessing performance, making operating decisions, allocating resources, and planning and forecasting for future periods.
Foreign operations are conducted primarily through our wholly owned subsidiaries in Singapore and Malaysia, and Mexico. Our principal markets include North America, Asia, and to a lesser degree, Europe.
The following table sets forth sales by geographic area, which represents sales to unaffiliated customers based upon the location to which the products were shipped:
Year Ended
December 26,
2025		December 27,
2024		December 29,
2023
Singapore$431,539 $353,219 $318,790 
United States of America295,010 268,946 281,298 
Europe98,046 98,855 116,316 
Other123,057 128,020 94,716 
Total net sales$947,652 $849,040 $811,120 
The following table sets forth our major customers with 10% or more of sales, which comprised 76%, 73%, and 82% of net sales in 2025, 2024, and 2023, respectively:
Year Ended
December 26,
2025		December 27,
2024		December 29,
2023
Applied Materials$371,697 $300,263 $295,082 
Lam Research$351,418 $319,099 $286,836 
ASML (1)—$— $85,589 
(1)ASML did not represent 10% or more of sales in 2025 and 2024.
Foreign long-lived assets, exclusive of deferred tax assets, were $71.3 million and $62.5 million at December 26, 2025 and December 27, 2024, respectively.

Historical Timeline

Fiscal YearFiled
2025Feb 20, 2026Showing above
2024Feb 21, 2025
2023Feb 23, 2024
2022Feb 24, 2023
2021Feb 28, 2022
2020Mar 5, 2021
2019Mar 6, 2020
2018Mar 8, 2019
2017Mar 13, 2018

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

Other Available Disclosures

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