Price as of close on Nov 3, 2026 · Financials updated Sep 30, 2026
Basics
Sector
Technology
Industry
Semiconductor Equipment & Materials
Country
United States
Market cap
2.2B USD
Enterprise value
2.7B USD
Full-time employees
6,948
Overall health
Drawback:less profitable than most peersless profitable than peers
Drawback:its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback:higher risk than most peers: its share price swings more than most peers’ (beta 1.88 vs a peer median of 0.87) and more debt relative to equity (0.94× vs a peer median of 0.25×)higher risk: bigger price swings (beta 1.88 vs peers 0.87) and more debt vs equity (0.94× vs peers 0.25×)
About average: growth
Ranks #1,358 of 1,612 technology companies (bottom 16%)
Stock pay outran buybacks. Stock-based pay expense $49M vs $33M spent repurchasing shares over the 3 fiscal years to 2025. Shares outstanding changed +0.2% from December 2022 to July 2026.
Over three fiscal years Ultra Clean recorded $49M of stock-based pay expense and spent $33M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years Ultra Clean recorded $49M of stock-based pay expense and spent $33M repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.
Valuation signals disagree.Cheaper than 51% of peers on operating cash profit (EBITDA), but only 0% on earnings.Cheaper than 51% of peers on operating cash profit, but only 0% on earnings.
Relative to its operating cash profit (EBITDA), Ultra Clean looks cheaper than 51% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.Relative to its operating cash profit, Ultra Clean looks cheaper than 51% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.
Loss over 12 months, profit last quarter. Lost money in the 12 months to June 2026, but made a $8.7M profit in the quarter to June 2026.
Ultra Clean reported a net loss over the last twelve months, but its most recent quarter was profitable ($8.7M). One quarter isn't a trend, but it's closer to profitability than the 12-month figure suggests.
More volatile share price. Beta 1.88: tends to move more than the market.
Ultra Clean's shares have swung more with the market than most peers' (beta 1.88, above the market's 1.0).
Since last quarter: No major changeValuation also moves with the share price every day.
Why it changed since the Oct 27, 2026 close: Score 32 → 31
Share price -6.7%+2
Peer companies moved-3
Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.
Sector-normalized EBITDA, earnings, and free cash flow yields.
Earnings yield-1.1%
SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.00Sector median: 0.0225 · MAD: 0.0225
EBITDA yield4.4%
SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score 0.05Sector median: 0.0423 · MAD: 0.0361
Free cash flow yield-5.2%
SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score -1.00Sector median: 0.0274 · MAD: 0.0274
Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.
Questions investors ask about Ultra Clean
Is Ultra Clean getting weaker?
Its latest SEC filing (Aug 4, 2026) got stronger: operating margin rose 8.1 points to 2.8%. Its overall score is unchanged at 30/100 since Oct 28, 2026.
How is Ultra Clean valued vs its peers?
Priced higher than most peers relative to what it earns. Valuation scores 31/100 against 1,711 technology peers.Earnings yield -1.1% vs a peer median of 2.2% (weaker than 100% of peers).Earnings yield -1.1% vs peers 2.2% (weaker than 100% of peers).
Is Ultra Clean growing?
At about the same pace as its peers. Growth scores 41/100 against 1,711 technology peers.Revenue growth 2.5% vs a peer median of 8.5% (weaker than 67% of peers).Revenue growth 2.5% vs peers 8.5% (weaker than 67% of peers).
How profitable is Ultra Clean?
Less profitable than most of its peers. Profitability scores 30/100 against 1,711 technology peers.Return on assets -1.2% vs a peer median of 2.9% (weaker than 78% of peers).Return on assets -1.2% vs peers 2.9% (weaker than 78% of peers).
How risky is Ultra Clean?
Higher risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings.Current ratio 2.73× vs a peer median of 1.83× (stronger than 71% of peers).Current ratio 2.73× vs peers 1.83× (stronger than 71% of peers).Beta 1.88 vs a peer median of 0.87 (weaker than 91% of peers).Beta 1.88 vs peers 0.87 (weaker than 91% of peers). A relative measure, not a bankruptcy probability.
Latest filing: what changed
Quarter ended Jun 26, 2026 · filed Aug 4, 2026 · compared with the quarter ended Mar 27, 2026
Got stronger
Operating margin rose 8.1 points to 2.8%
Previous quarter
Latest quarter
Change
Revenue (12 months)
2.1B USD
2.2B USD
+6.1%
Net income (12 months)
−194.1M USD
−23.4M USD
−87.9%
Operating margin
-5.3%
2.8%
+8.1 pts
Free cash flow (12 months)
−43.4M USD
−113.1M USD
+160.6%
Debt
601.9M USD
599.4M USD
−0.4%
Cash
323.5M USD
255.9M USD
−20.9%
Shares outstanding
44.8M
45.3M
+1.0%
From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.
Valuations in Semiconductor Equipment & Materials are near the top of their range since Feb 2021.
84% of months since Feb 2021 were valued lower than now.
81% of companies are in the most expensive fifth of their own price-to-sales history.
Median price-to-sales is +95% vs the whole market, against a usual +84%.
Feb 2021Shaded: most expensive fifth of its range2026
This is a cyclical group: after a downturn, trailing earnings and sales fall faster than prices, which can make valuations look high near a cycle's low.
Describes valuations since Feb 2021; it does not predict prices. US companies worth $1B+, from SEC filings and month-end prices, as of Aug 2026. Today's companies and industry labels are used throughout. Measured on earnings, sales and free cash flow yields. How this works
Financials
Fiscal years from SEC annual filings · change vs the prior year
Key ratios
FY 2021
FY 2022
FY 2023
FY 2024
FY 2025
Change
Gross margin
20.5%
19.6%
16.0%
17.0%
15.7%
▼ 1.3 pts
Operating margin
8.8%
5.1%
2.0%
4.3%
-5.2%
▼ 9.6 pts
Net margin
5.7%
1.7%
-1.8%
1.1%
-8.8%
▼ 10.0 pts
Return on assets (ROA)
6.4%
2.1%
-1.7%
1.2%
-10.5%
▼ 12 pts
Return on equity (ROE)
14.1%
4.6%
-3.7%
2.7%
-25.5%
▼ 28 pts
Free cash flow margin
7.2%
-2.2%
3.5%
0.1%
0.7%
▲ 0.7 pts
Current ratio
2.42×
2.82×
2.88×
2.89×
3.19×
▲ 10%
Quick ratio
1.62×
1.68×
1.67×
1.76×
1.89×
▲ 7.8%
Debt to equity
0.67×
0.55×
—
0.57×
0.68×
▲ 18%
Interest coverage
7.67×
3.55×
0.72×
1.96×
-2.80×
▼ 243%
UCTT price history
Price history is added with the daily price update and will appear after the next one.