Capital investment and capacitynegative · 4 filings
“The decrease of $9.2 million for the first quarter of 2026 was primarily due to capital expenditures of $7.1 million and cash used in operating activities of $2.9 million.”10-Q · May 5, 2026 ↗
Ichor Holdings, Ltd.
ICHR
Market read
Ichor Holdings, Ltd.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 29 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 4 directly disclosed connections are confirming.
Company-3.6% todayVolume comparison unavailable
Market group0 of 29 activeSemiconductor Equipment · unavailable
Disclosed network0 of 4 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- ICHR's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if ICHR's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 29 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 4 directly disclosed connections are confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- ICHR's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations319
Usable filing statements60
Verified relationships4
Evidence supporting the case
- Latest annual revenue changed +11.6% year over year.
- Restructuring and cost reductions has repeated favorable evidence across 3 filings.
Evidence challenging the case
- Operating margin changed -3.2 percentage points in the latest annual period.
- Net margin changed -3.1 percentage points in the latest annual period.
- Diluted shares increased 4.5% in the latest annual period.
- Capital investment and capacity has repeated adverse evidence across 4 filings.
- Credit and interest rates has repeated adverse evidence across 4 filings.
Questions before a position
- EV/sales is 63% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 10, 2026
55.776m+17.3%12m+220.7%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-12-31$1.1B+20.0%$2.45+23.5%
2022-12-30$1.3B+16.7%$2.51-0.1%
2023-12-29$811.1M-36.6%$-1.47+0.8%
2024-12-27$849.0M+4.7%$-0.64+12.2%
2025-12-26$947.7M+11.6%$-1.54+4.5%
What management says matters
Persistent and emerging business drivers
Credit and interest ratesnegative · 4 filings
“Interest expense, net Three Months Ended Change March 27, 2026 March 28, 2025 Amount % (dollars in thousands) Interest expense, net $ 1,678 $ 1,646 $ 32 1.9 % Weighted average borrowings outstanding $ 123,506 $ 127,562 $ (4,056) (3.2) % Weighted average borro…”10-Q · May 5, 2026 ↗
Product pipeline and R&Dmixed · 4 filings
“17 Research and development Three Months Ended Change March 27, 2026 March 28, 2025 Amount % (dollars in thousands) Research and development $ 5,530 $ 5,874 $ (344) (5.9) % The decrease in research and development expenses from the first quarter of 2025 to th…”10-Q · May 5, 2026 ↗
Foreign exchangemixed · 3 filings
“Other expense, net Three Months Ended Change March 27, 2026 March 28, 2025 Amount % (dollars in thousands) Other expense, net $ 323 $ 81 $ 242 298.8 % The change in other expense, net from the first quarter of 2025 to the first quarter of 2026 was primarily d…”10-Q · May 5, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 2.0× · EV/sales 2.0×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
55.77-3.6% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for ICHR. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for ICHR. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind ICHR
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
LRCX76.0% of ICHRcustomerFeb 20, 2026 ▾
“For 2025, two customers with individual sales over 10%, Lam Research and Applied Materials, accounted for a combined 76% of total sales.”
AMATApplied Materials, Inc.customerFeb 20, 2026 ▾
“We have long standing relationships with top tier OEM customers, including Lam Research, Applied Materials, and ASML which were our largest customers by sales in 2025.”
ASMLASML Holding N.V.customerFeb 20, 2026 ▾
“We have long standing relationships with top tier OEM customers, including Lam Research, Applied Materials, and ASML which were our largest customers by sales in 2025.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 2 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
ICHR is currently a Follower in the organic co-movement group Semiconductor Equipment. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for ICHR; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.