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UCTT

Ultra Clean Holdings, Inc.

UCTT

Ultra Clean Holdings, Inc. • NASDAQ
$25.36 ▲ 0.88% (+0.22)
Market Cap $1.15 B
52w High $40.64
52w Low $16.66
Dividend Yield 0%
P/E -7.1
Volume 262.73K
Outstanding Shares 45.39M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $510M ▼ $71.6M ▼ $-8.1M ▲ -1.588% ▲ $-0.24 ▲ $29.5M ▲
Q2-2025 $518.8M ▲ $221.3M ▲ $-162M ▼ -31.226% ▼ $-3.58 ▼ $-124.5M ▼
Q1-2025 $518.6M ▼ $71.1M ▲ $-5M ▼ -0.964% ▼ $-0.11 ▼ $33.8M ▼
Q4-2024 $563.3M ▲ $65.9M ▼ $16.3M ▲ 2.894% ▲ $0.36 ▲ $54.3M ▲
Q3-2024 $540.4M $68.2M $-2.3M -0.426% $-0.051 $41.2M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $314.1M ▼ $1.72B ▼ $939.2M ▼ $709.9M ▼
Q2-2025 $327.4M ▲ $1.746B ▼ $955.8M ▲ $719.4M ▼
Q1-2025 $317.6M ▲ $1.891B ▼ $954.2M ▼ $872M ▼
Q4-2024 $313.9M ▼ $1.92B ▼ $984.1M ▼ $873.6M ▲
Q3-2024 $318.2M $1.948B $1.025B $857.9M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-8.1M ▲ $100K ▼ $-7.9M ▲ $-3.5M ▲ $-13.3M ▼ $-10.9M ▼
Q2-2025 $-160.4M ▼ $29.2M ▲ $-16.7M ▼ $-6.6M ▲ $9.8M ▲ $12.4M ▼
Q1-2025 $-2.5M ▼ $28.2M ▲ $-12.4M ▲ $-12.2M ▼ $3.7M ▲ $15.8M ▲
Q4-2024 $20M ▲ $17.1M ▲ $-17.3M ▼ $1M ▲ $-4.3M ▼ $-200K ▲
Q3-2024 $300K $14.9M $-15.3M $-3.7M $-1.3M $-300K

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Product
Product
 $980.00M ▲$460.00M ▼$450.00M ▼$450.00M ▲
Service
Service
 $120.00M ▲$60.00M ▼$60.00M ▲$70.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has rebounded in the most recent year after a notable dip, showing the typical ups and downs of a semiconductor capital-equipment supplier. Profitability, however, has not returned to earlier peak levels: gross margins are thinner and operating profits are modest. The company moved from healthy profits to a loss during the industry downturn, and then back to only a small profit recently. That pattern underlines how sensitive Ultra Clean is to the semiconductor cycle and customer spending, even though it remains able to operate profitably in more normal conditions.

Balance Sheet

Balance Sheet The balance sheet looks reasonably solid but not overly conservative. Assets have been broadly stable over the last few years, after a step-up earlier in the decade, likely reflecting acquisitions and capacity build-out. Cash levels have held steady, providing a useful cushion but not an unusually large one. Debt has risen compared with earlier years and now represents a meaningful part of the capital structure, though it is supported by a growing equity base. Overall, leverage appears manageable, but the company does rely on debt financing and needs continued cash generation to keep risk in check.

Cash Flow

Cash Flow Cash generation has been adequate but somewhat uneven. Operating cash flow was strongest during the industry upcycle and weaker more recently, in line with the pressure seen in earnings. Free cash flow has usually been positive, though at times only just above break-even, with one year dipping slightly negative when investment was heavier. Capital spending has been relatively steady, suggesting ongoing but disciplined investment rather than aggressive expansion. The profile points to a business that can generally fund its needs internally, but with limited room for error in weaker years.

Competitive Edge

Competitive Edge Ultra Clean occupies a specialized and important niche in the semiconductor supply chain, focused on critical subsystems, ultra-clean fluid and gas delivery, and contamination control. Its deep, long-term relationships with leading equipment makers, and its role as a co-development partner rather than a simple parts supplier, create switching costs and good visibility into future technology needs. The company’s vertically integrated model—design, engineering, manufacturing, cleaning, coating, and analytics—makes it a one-stop partner that is harder to replace with multiple smaller vendors. Key risks include dependence on a handful of major customers and exposure to swings in semiconductor capital spending, but within that context its position appears well entrenched.

Innovation and R&D

Innovation and R&D Innovation is tightly linked to the company’s core strength: making semiconductor manufacturing cleaner and more reliable. Proprietary offerings like its ultra-high-purity cleaning process, in-house analytical lab, and advanced coatings give it distinctive technical capabilities and help it prove quality to customers. The use of automation, statistical process control, and 3D printing supports both precision and faster development cycles. Strategic moves into sub-fab systems, localized “China for China” manufacturing, and components for next-generation chip architectures suggest that R&D is being directed toward real, emerging needs rather than incremental tweaks. Continued vertical integration via acquisitions further deepens its technical and service toolkit, though it also adds execution and integration risk.

Summary

Ultra Clean is a cyclical semiconductor supplier emerging from a downturn: sales have recovered, but profits remain well below earlier highs and margins are still under pressure. The balance sheet is sound with stable assets and a moderate but meaningful level of debt, and cash flow has generally been sufficient to fund ongoing investment, albeit with some volatility. Strategically, the company benefits from deep integration with top-tier customers, a broad and sticky service offering, and differentiated expertise in ultra-clean environments. Its innovation agenda is closely aligned with future semiconductor technology challenges and supported by selective acquisitions. The main things to watch are margin recovery, consistency of cash generation through the cycle, customer concentration, and execution on new growth initiatives such as sub-fab solutions and regional expansion.

NEWS

November 6, 2025 · 5:18 PM UTC

Kuehn Law Encourages Investors of Ultra Clean Holdings, Inc. to Contact Law Firm

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October 28, 2025 · 4:05 PM UTC

Ultra Clean Reports Third Quarter 2025 Financial Results

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October 14, 2025 · 2:13 PM UTC

Kuehn Law Encourages Investors of Ultra Clean Holdings, Inc. to Contact Law Firm

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October 1, 2025 · 8:30 AM UTC

Ultra Clean Announces Q3 2025 Earnings Date and Conference Call

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