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UCTT

Ultra Clean Holdings, Inc.
$44.46
-14.86% Oct 22 close
Information TechnologyS&P 600 CompareTechnicals
Model valuationRoughly fairly valuedDCF base $11
1M3M6M1Y2Y
-26%+79%+184%+289%+394%Oct 2025Oct 2026Apr 202652w high $144.2252w low $21.49
UCTTSPY
1W
-20.4%
1M
-41.9%
3M
-55.8%
6M
-43.2%
YTD
+75.5%
1Y
+59.5%

Health check

Financial health
DistressGrey zoneSafe
Safe zone
Altman Z-score 3.0
Above 2.99 is the safe zone, below 1.81 the distress zone.
Quality
WeakAverageStrong
Average
Piotroski F-score 5 of 9
See the tests
  • ✗Positive net income
  • ✓Positive operating cash flow
  • ✗Return on assets improved
  • ✓Cash flow above net income
  • ✗Long-term debt / assets fell
  • ✓Current ratio improved
  • ✓No share dilution
  • ✗Gross margin improved
  • ✓Asset turnover improved

Computed by Coteau from the company's SEC filings (latest balance sheet Jun 26, 2026). Descriptive, not a forecast.

Live chart

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What they do

Ultra Clean Holdings, Inc. develops and supplies critical subsystems, components and parts, and cleaning and analytical services for the semiconductor industry in the United States and internationally. The company offers outsourced solutions for the development, design, component sourcing and cleaning, prototyping, engineering, and manufacturing and testing of advanced systems.

Technology · Semiconductor Equipment & Materials

For information only · Important disclosures

Grades vs sector

Momentum
95th percentile in sector
A+
12-1 return: +195.7%
Percentile within its GICS sector across the S&P 1500.
Growth
67th percentile in sector
B
Revenue growth (YoY): +24.3%
Percentile within its GICS sector across the S&P 1500.
Value
72nd percentile in sector
B+
Forward E/P: 12.2% · EBITDA/EV: 4.8%
Percentile within its GICS sector across the S&P 1500.
Profitability
8th percentile in sector
D-
Profit margin: -1.1% · Return on equity: -1.6%
Percentile within its GICS sector across the S&P 1500.
Revisions
Not enough data yet
–
EPS estimate change, 30 days (current FY): –
30-day change in analysts' current-year EPS estimate; graded across covered stocks.

Systematic Models

Not held by any of our 5 live models right now.

Quality Growth
Outside this model's universe or screens
 Momentum Top 15
Outside this model's universe or screens
 Momentum Blend
Not in the current book
 New Highs Growth
Outside this model's universe or screens
 Coteau Long Book
Not in the current book

News

More news
Ultra Clean Holdings (UCTT) Stock May Be Undervalued On Its Sales Profile
Simply Wall St. · Oct 19
Ultra Clean Strengthens Core Franchise Ahead of Q3 Results, Oppenheimer Says
MT Newswires · Oct 19
SpaceX initiated, Humana upgraded: Wall Street's top analyst calls
The Fly · Oct 09
Ultra Clean Announces Q3 2026 Earnings Date and Conference Call
PR Newswire · Oct 05
Ultra Clean Appoints Alexander Davern to Board of Directors
PR Newswire · Sep 30

Key stats

Market value$2.3B
P/E (next 12 months, estimated)8.3
52-week range$21.49 – $144.22
Revenue growth (latest quarter vs a year ago)+24.3%
Dividend yieldNo dividend
Analyst consensusStrong Buy (6)
Average analyst price target$132.83 (+199%)
Valuation and fundamentals

Valuation & fundamentals

Bottom line
Roughly fairly valued
Model read-out from the numbers below, not advice. Score +0 (DCF counts double).
▼DCF (base case)below the price by 76%
▲Forward P/E vs sector8.3x vs median 16.9x
•Piotroski F-score5/9
▲Altman Z3.0 (safe)
•Net debt / EBITDA3.1x
▲Analyst target+199% (6 analysts)

Discounted cash flow

CyclicalValued on average-cycle margins
Bear
$5
-88%
growth 5% · disc. 14.0% · term. 2.0%
Base
$11
-76%
growth 10% · disc. 13.0% · term. 2.5%
Bull
$17
-62%
growth 13% · disc. 12.0% · term. 3.0%

Starting cash flow is mid-cycle: 2.9% average margin × current revenue = 0.1B (last 12 months: -0.1B at a -5% margin).

Reverse DCFfor context, not a signal
Today's price assumes free cash flow grows about 24% a year for 10 years.
Implied
+24%/yr
FCF, last 3 yrs
n/a
FCF, last 5 yrs
-24%/yr
Revenue, last 3 yrs
-5%/yr
Revenue, last 5 yrs
+8%/yr
Same inputs as the DCF above: mid-cycle free cash flow 0.1B, 13.0% discount rate, 2.5% growth after year 10, net debt and today's share count. Actual growth rates are compound annual rates from SEC annual filings through FY2025; "n/a" means too little history or a negative starting year.
Edit assumptions · recalculates instantly
Your value per share–

Free cash flow = operating cash flow − capital spending, trailing 12 months (TTM to 2026-06-26). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 1.85 × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.

Multiples vs Information Technology

P/E (trailing)
sector median 35.9×
 –
Forward P/E
sector median 16.9× · 6th pct
 8.3×
cheaper
EV / EBITDA
sector median 20.8× · 57th pct
 24.0×
pricier
Price / sales
sector median 4.6× · 10th pct
 1.1×
cheaper
Price / book
sector median 5.1× · 37th pct
 3.6×
cheaper
FCF yield
sector median 3.5% · 3rd pct
 -4.8%
pricier

Forward EPS $6.24 vs trailing $-0.51. Forward P/E uses analysts' next-12-month estimate.

Quality & financial health

Gross margin
15.8%
Operating margin
2.8%
FCF margin
-5.2%
Net margin
-1.1%
Return on equity
-3.7%
Return on invested capital
4.1%
Net debt / EBITDA
3.1×
Current ratio
2.7×
Interest cover
2.3×
Cash conversion (OCF/NI)
–
Piotroski F-score 5/9 · last two fiscal years
✗ Positive net income✓ Positive operating cash flow✗ Return on assets improved✓ Cash flow above net income✗ Long-term debt / assets fell✓ Current ratio improved✓ No share dilution✗ Gross margin improved✓ Asset turnover improved

Altman Z-score 3.0 (safe zone; above 3.0 = safe, below 1.8 = distress). Not meaningful for banks and insurers.

Analysts

Mean target
$133
+199%
Analysts
6
Strong Buy
Range
$120–$150
low – high
● price · ◆ mean target

Annual history

FYRevenueNet incomeFree cash flow
2025$2.1B$-181.2M$15.3M
2024$2.1B$23.7M$1.5M
2023$1.7B$-31.1M$60.1M
2022$2.4B$40.4M$-52.9M
2021$2.1B$119.5M$152.3M
2020$1.4B$77.6M$60.9M

From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR -4.7%.

Earnings

Next report: 2026-10-27 · after close · EPS est 0.94
24-1025-0225-0425-0725-1026-0226-0426-080.000.70
EstimateActual (beat)Actual (miss)
ReportEPS estActualSurprise
2026-08-030.530.70+31.9%
2026-04-280.260.31+18.1%
2026-02-230.230.22-2.2%
2025-10-280.220.28+28.7%
2025-07-280.270.27–
2025-04-280.310.28-10.4%
2025-02-240.440.51+15.2%
2024-10-280.330.35+6.1%

Quarterly revenue

QuarterRevenueYoY
2026-06-30$644.9M+24.3%
2026-03-31$533.7M–
2025-12-31$506.7M–
2025-09-30$510.0M–
2025-06-30$518.8M–
Rating changes
Initiated
2026-10-09 · Freedom Broker started covering UCTT at Buy
Reiterated
2026-08-04 · Oppenheimer reiterated Outperform on UCTT
Reiterated
2026-08-04 · TD Cowen reiterated Buy on UCTT
Reiterated
2026-08-04 · Needham reiterated Buy on UCTT
Reiterated
2026-07-09 · TD Cowen reiterated Buy on UCTT
Reiterated
2026-06-09 · Oppenheimer reiterated Outperform on UCTT

Third-party analyst actions, not Coteau's views. All rating changes

Insider trades
None
None · None
Sell
–
None
None · None
Sell
–
None
None · None
Sell
–

Stats refreshed 2026-10-21 01:32:55 ET from Yahoo Finance (yfinance). "–" means the data isn't available. Refresh now

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Independent research · Not investment advice · Hypothetical unless marked Live · Data: Yahoo Finance (15-min delayed), SEC EDGAR, House Clerk · Important disclosures · Contact desk@coteau.app

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Beta 0.9 · Oct 21, 2026