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Ichor Holdings Ltd (ICHR) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of Ichor Holdings Ltd stock $31.74, price $35.27, that is 10.0% below the price, quality 40 out of 100. Rating: overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

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Technology US · ISIN KYG4740B1059

IH Ichor Holdings Ltd logo Thin data Nov 10, 2026

Ichor Holdings Ltd

ICHR · US
Expensive, weak quality

Our calculation puts a fair price 10% below what the stock costs today.

Low debt
Revenue last quarter +37% vs. a year ago.
Quality 40/100
Thin margins · 0.3% net margin (TTM)
Mixed vs. peers (6/13)
Insiders sold $7.6M (6M)
Fair value $31.74 · Overvalued
Weak Growth (revenue 5y +0.7 %/yr in USD)
Negative free cash flow
Narrow moat 25/100 · thin data
Thin data
⟳ CyclicalEstimate
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$112.28 $14.06 Fair Value $31.74 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range $14.06 – $112.28 · fair‑value band $23.81 – $39.68 · the $35.27 price screens above the $31.74 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

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Company profile

Ichor Holdings, Ltd. engages in the design, engineering, and manufacture of fluid delivery subsystems and components for semiconductor capital equipment in Singapore, the United States, Europe, and internationally.

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The company offers gas and chemical delivery subsystems used in the manufacturing of semiconductor devices.

Its gas delivery subsystems deliver, monitor, and control gases used in semiconductor manufacturing processes, such as etch and deposition; and chemical delivery subsystems blend and dispense the reactive liquid chemistries used in semiconductor manufacturing processes, including chemical-mechanical planarization, electroplating, and cleaning.

In addition, the company provides precision-machined components, weldments, e-beam and laser welded components, precision vacuum and hydrogen brazing, surface treatment technologies, and other proprietary products.

It sells and markets its products to equipment OEMs in the semiconductor equipment market. Ichor Holdings, Ltd. was incorporated in 1999 and is headquartered in Fremont, California.

Stock analysis

Ichor Holdings Ltd (ICHR) currently trades at $35.27, while our estimate is $31.74, 10% below the price, so the stock looks overvalued today.

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Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: $23.81 (bear) to $39.68 (bull), the price of $35.27 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 40/100 (below-average quality), in the Technology sector.

Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.

Ichor Holdings Ltd reported revenue of $948M in FY2025 versus $1.1B in FY2021, a compound −3.6%/yr. Reported net income was −$52.8M in FY2025.

Key figures

Market cap $1.3B Small · P/E ratio 503.9 · P/S ratio 1.16 · EPS (TTM) $0.0700 · Net margin 0.3% · Return on equity 0.5% · Return on assets (EBIT) 2.0% (5-year average) · Operating margin 6.9%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 25 out of 100 (low confidence).

What moves the price

The share trades about 69% below its 52-week high and 148% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at −11% fair-value upside, at −10%, ICHR screens cheaper than that median.

Fair Value

Bear $23.81 Fair Value $31.74 Bull $39.68
Price $35.27 · Downside -10.0%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 40/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 18
How much profit the company makes from its sales and capital
Quality Growth 42
Are margins and returns getting better?
Cashflow 13
Do the profits arrive as real cash?
Financial strength 81
Debt, balance sheet and risk of trouble
Investment 90
Does it invest with discipline instead of growing at any price?
Low Volatility 0
How calm the share price moves, does not count
Price momentum 33
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 61
Distance to the 52-week high, does not count
New shares 11
Buys back shares or issues new ones?

Open the full quality analysis →

Insider trades

In the last 6 months, 7 officers or directors sold shares worth $7.6M and none bought.

  • SaleGreg SwytChief Financial Officer5× since Feb 24, 2026: 32,239 shares, avg. $66.96$2.2MOct 2, 2026
  • SaleBruce RagsdaleChief Operating Officer3× since Feb 23, 2026: 34,012 shares, avg. $51.37$1.7MOct 2, 2026
  • SaleIain MacKenzieDirector2× since Aug 18, 2026: 29,933 shares, avg. $55.67$1.7MSep 15, 202610b5-1 plan
  • SalePhilip Ryan Barros Sr.Chief Executive Officer, Director3× since Feb 26, 2026: 36,019 shares, avg. $56.15$2.0MAug 19, 2026
  • SaleLaura A. BlackDirector20,000 shares at $75.02$1.5MJun 2, 2026
  • SaleJorge TitingerDirector2× since Feb 23, 2026: 5,200 shares, avg. $60.96$316,972May 19, 2026
  • SaleMarc HaugenDirector3× since Feb 23, 2026: 35,135 shares, avg. $59.97$2.1MMay 13, 2026
  • SaleThomas M RohrsDirector53,908 shares at $45.48$2.5MFeb 12, 2026
  • BuyIain MacKenzieDirector10,000 shares at $14.53$145,300Nov 17, 2025

Plus 24 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.

Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.

Source: SEC Form 4, as of Nov 10, 2026. All filings at the SEC ↗

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 26/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+11.6%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−9.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+0.7%
Start year 2020 (pandemic). Over 10 years: +12.5% a year
Revenue growth 12 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+10.8%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
4.5% (2020) → −4.1% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

ICHR screens overvalued: fair value 10% below the price. Compare with ASML Holding →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Semiconductor Equipment & Materials · 245 stocks

Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 40 · Bottom 25%
Fair Value upside −10.0% · Above median
Profitability
Return on equity (12 months) 0.5% · Bottom 25%
Return on assets −5.6% · Bottom 25%
Net margin (12 months) 0.3% · Bottom 25%
Operating margin (12 months) 6.9% · Below median
Growth and dividend
Revenue growth (quarter YoY) 37.4% · Above median
Balance sheet
Debt / equity 0.18× · Above median

Valuation Multiplesvs Semiconductor Equipment & Materials median · lower = cheaper

P/E (12 months) 503.9× · Priciest 25%
P/B 1.93× · Cheaper than median
P/S (12 months) 1.16× · Cheapest 25%
EV/EBITDA 16.4× · Cheaper than median
PEG 0.16× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)20 · sector 0
FUTURE (revenue growth)100 · sector 100
PAST (return on equity)2 · sector 38
HEALTH (low debt)91 · sector 96
DIVIDEND (yield)0 · sector 19

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Semiconductor Equipment & Materials stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Lam Research Corporation LRCX $222.39 $243.44 +9% vs ICHR
Hon. Precision, Inc 7769 4,220 TWD 4,444 TWD +5% vs ICHR
Applied Materials, Inc AMAT $372.53 $368.90 −1% vs ICHR
ASML Holding ASML €1,361 €1,345 −1% vs ICHR
KLA Corporation KLAC $152.99 $136.10 −11% vs ICHR
Entegris, Inc ENTG $138.57 $91.54 −34% vs ICHR
Qnity Electronics, Inc Q $123.64 $70.54 −43% vs ICHR
Advanced Micro-Fabrication Equipment Inc 688012 ¥245.66 ¥123.44 −50% vs ICHR
Teradyne, Inc TER $245.40 $66.14 −73% vs ICHR
Hangzhou Changchuan Technology Co 300604 ¥180.91 ¥45.22 −75% vs ICHR

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Ichor Holdings Ltd: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Ichor Holdings Ltd Fair Value". https://www.fairvalue-calculator.com/stock/ICHR

Frequently asked questions

Is Ichor Holdings Ltd (ICHR) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is $31.74 versus a price of $35.27, about 10% lower (overvalued).
What is the fair value of ICHR?
Our estimate for Ichor Holdings Ltd is $31.74 (as of Nov 10, 2026), built from audited fundamentals. The current price: $35.27.
What is the quality score of ICHR?
Ichor Holdings Ltd has a Quality Score of 40/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Ichor Holdings Ltd (ICHR)?
Our calculated price target is the estimate of $31.74 (as of Nov 10, 2026). Cautious scenario $23.81, optimistic scenario $39.68. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the Ichor Holdings Ltd stock forecast for 2026?
Our estimate puts fair value at $31.74, about 10% lower versus a price of $35.27 (overvalued). Cautious scenario $23.81, optimistic scenario $39.68. The calculation is refreshed regularly with new filings.
What is the revenue of Ichor Holdings Ltd (ICHR)?
Ichor Holdings Ltd reported trailing-twelve-month revenue of about $1.1B (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of Ichor Holdings Ltd (ICHR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Ichor Holdings Ltd it is $31.74 per share (as of Nov 10, 2026), against a price of $35.27.
Is Ichor Holdings Ltd stock overvalued or undervalued in 2026?
As of Nov 10, 2026, ICHR trades above its calculated fair value: price $35.27, fair value $31.74, a gap of about −10% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ICHR?
No. The price is what the market pays today ($35.27); the fair value is what the company's own numbers justify ($31.74). For Ichor Holdings Ltd the two are $3.53 per share apart. That gap is exactly why we show both numbers side by side.
How much is Ichor Holdings Ltd worth?
The market values Ichor Holdings Ltd at about $1.3B (market capitalisation, as of Nov 10, 2026). Per share that is $35.27; our models calculate a fair value of $31.74 per share.
What do the bullish and bearish scenarios say about ICHR?
Our models span a range for Ichor Holdings Ltd: cautious scenario $23.81, base $31.74, optimistic $39.68 per share (as of Nov 10, 2026, price $35.27). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of ICHR?
The PEG ratio of Ichor Holdings Ltd is 0.16 (P/E divided by earnings growth, as of Nov 10, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Ichor Holdings Ltd (ICHR)?
Balance-sheet figures for Ichor Holdings Ltd (as of Nov 10, 2026): return on equity 0.5%, debt of 0.18 per unit of equity. They feed the Quality Score of 40/100, which measures business quality independently of the share price.
How far is ICHR from its 52-week high?
Ichor Holdings Ltd trades at $35.27, about 69% below its 52-week high of $112.28 and 148% above the low of $14.25 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of $31.74 is for.
Which stocks are comparable to Ichor Holdings Ltd?
From the same area (Technology) we also value ASML Holding, Applied Materials, Inc, Lam Research Corporation, KLA Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Ichor Holdings Ltd stock attractive at the current price?
The data as of Nov 10, 2026: price $35.27, calculated fair value $31.74 (−10%), Quality Score 40/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. Ichor Holdings Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Ichor Holdings Ltd (ICHR)?
The closing price on Nov 10, 2026 was $35.27. Our estimate is $31.74, about 10% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Ichor Holdings Ltd right now?
Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual. The price sits in the upper half of our model range, so the margin of safety is thin. Read the verdict with care: some models are missing inputs, so the estimate scatters more than usual.

Key figures of Ichor Holdings Ltd

How large is the market capitalisation of Ichor Holdings Ltd (ICHR)?
The market capitalisation of Ichor Holdings Ltd is $1.3B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/E ratio of Ichor Holdings Ltd (ICHR)?
The price-to-earnings ratio of Ichor Holdings Ltd is 503.9 (· median at FY-end 12.6 (7 FY)). Price to earnings: how many years of current profit you pay for the stock. A P/E of 10 means ten years of profit.
What is the P/S ratio of Ichor Holdings Ltd (ICHR)?
The price-to-sales ratio of Ichor Holdings Ltd is 1.16 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Ichor Holdings Ltd (ICHR)?
Earnings per share at Ichor Holdings Ltd are $0.0700 (price ÷ EPS = P/E 503.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Ichor Holdings Ltd (ICHR)?
The net margin of Ichor Holdings Ltd is 0.3% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Ichor Holdings Ltd (ICHR)?
The return on equity (ROE) of Ichor Holdings Ltd is 0.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Ichor Holdings Ltd (ICHR)?
On an EBIT basis the return on assets of Ichor Holdings Ltd is 2.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Ichor Holdings Ltd (ICHR)?
The operating margin of Ichor Holdings Ltd is 6.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Ichor Holdings Ltd (ICHR)?
Revenue at Ichor Holdings Ltd is growing +37.4% versus a year earlier (3y avg −9.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Ichor Holdings Ltd (ICHR)?
Earnings per share at Ichor Holdings Ltd are growing −6.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Ichor Holdings Ltd (ICHR) generate?
The free cash flow of Ichor Holdings Ltd is −$6.3M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Ichor Holdings Ltd (ICHR) carry?
The net debt of Ichor Holdings Ltd is $87.3M (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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