Semiconductor equipment & materials
16 companies · $88.2B combined revenue · $25.2B operating profit
The typical US-listed semiconductor equipment & materials company grew revenue 10.7% and earnings -2.5% in its latest year, at a 14.2% operating margin, and 5 of 16 earn a return on capital above 15%. Figures from each company's latest annual filing with the SEC, refreshed daily.
Growth engines: the 4 Cylinders
All four working: 20% of companiesA company's earnings per share can grow in only four ways: more sales, profits growing faster than sales (operating leverage), wider margins, and less debt. Each bar is the share of companies where that engine worked in their latest year.
- Sales growth · Revenue up 10% or more50%
- Operating leverage · Operating income growing faster than a growing revenue47%
- Margin expansion · Operating margin up 1 point or more25%
- Debt reduction · Debt down 5% or more, or net cash73%
Combined revenue · 15 companies reporting in US dollars
Combined operating margin
All 16 companies
| Median | – | 10.7% | -2.5% | 14.2% | 8.8% | 0.32x |
| ASMLASML | EUR 32.7B | 15.6%▲ | 26.9%▲ | 34.6%▲ | 43%▲ | 0.22x▲ |
| LRCXLam Research | $23.2B | 26%▲ | 35.6%▲ | 35.3%▲ | 46.6%▲ | 0.30x▲ |
| AMATApplied Materials | $28.4B | 4.4%▼ | -2.5% | 29.2%▲ | 29.3%▲ | 0.32x |
| KLACKLA | $13.6B | 11.7%▲ | 18.9%▲ | 43.4%▲ | 43.2%▲ | 0.93x▼ |
| TERTeradyne | $3.2B | 13.1%▲ | 2.2%▲ | 20.4%▲ | 21.2%▲ | – |
| ENTGEntegris | $3.2B | -1.4%▼ | -19.5%▼ | 14.3%▲ | 5.8%▼ | 0.94x▼ |
| MKSIMKS | $3.9B | 9.6%▼ | 55.3%▲ | 13.4%▼ | 6.7%▼ | 1.55x▼ |
| ONTOONTO Innovation | $1.0B | 1.8%▼ | -32.2%▼ | 13.2%▼ | 6.2%▼ | – |
| AMKRAmkor Technology | $6.7B | 6.2%▼ | 5.6%▲ | 7%▼ | 7.3%▼ | 0.32x▼ |
| NVMINOVA | $881M | 31%▲ | 41.1%▲ | 28.8%▲ | 11.9%▲ | – |
| FORMFormfactor | $785M | 2.8%▼ | -21.9%▼ | 7.3%▼ | 5.2%▼ | 0.01x▲ |
| CAMTCamtek | $496M | 15.6%▲ | -57.2%▼ | 25.8%▲ | 11.1%▲ | – |
| ACMRACM Research | $901M | 15.2%▲ | -9.2%▼ | 12.1%▼ | 5.1%▼ | 0.15x▲ |
| ACLSAxcelis Technologies | $839M | -17.6%▼ | -40.2%▼ | 14.2%▼ | 10.3%▲ | – |
| VECOVeeco Instruments | $664M | -7.4%▼ | -52%▼ | 5.4%▼ | 3.1%▼ | 0.26x▲ |
| COHUCOHU | $453M | 12.7%▲ | – | -15.4%▼ | -6.2%▼ | 0.38x▼ |
▲ better than the median, ▼ worse. n/a: the ratio doesn't apply to that kind of business (e.g. a bank's operating margin). Sort by any column. Figures from each company's latest 10-K (or 20-F/40-F).