Ultra Clean Holdings, Inc. (UCTT) intrinsic value & 10-year financials
Ultra Clean Holdings, Inc. (UCTT) has a Graham intrinsic value of $17.27 per share. At $51.00 on Oct 17, 2026, the stock trades 195% above that value. Over the last 10 fiscal years revenue grew 15.5% a year to $2.1B, with an average return on invested capital of 8.8%.
- Graham intrinsic value
- $17.27
- Share price (Oct 17, 2026)
- $51.00
- Price vs Graham value
- 195% above
- Market cap
- $2.3B
- Revenue (FY2025)
- $2.1B
- Revenue growth (10-yr CAGR)
- 15.5%
- ROIC (10-yr avg)
- 8.8%
- Free cash flow (FY2025)
- $15.3M
UCTT 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $2.1B | -$181.2M | -$4.00 | $15.3M | -5.2% | -9.6% |
| FY2024 | $2.1B | $23.7M | $0.52 | $1.5M | 4.3% | 4.8% |
| FY2023 | $1.7B | -$31.1M | -$0.00 | $60.1M | 2.0% | 3.9% |
| FY2022 | $2.4B | $40.4M | $0.00 | -$52.9M | 5.1% | 5.8% |
| FY2021 | $2.1B | $119.5M | $0.00 | $152.3M | 8.8% | 18.2% |
| FY2020 | $1.4B | $77.6M | $0.00 | $60.9M | 8.7% | 15.6% |
| FY2019 | $1.1B | -$9.4M | -$0.00 | $94.7M | 2.8% | 2.5% |
| FY2018 | $1.1B | $36.6M | $0.00 | $15.6M | 5.5% | 11.6% |
| FY2017 | $924.4M | $75.1M | $0.00 | $32.8M | 9.7% | 29.9% |
| FY2016 | $562.8M | $10.1M | $0.00 | $10.3M | 4.0% | 5.5% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Ultra Clean Holdings, Inc. is a consistent compounder, expanding top-line revenue at 15.5% annually over the past decade.
Ultra Clean Holdings, Inc. returns on capital have been average, hovering around 8.8% ROIC over the decade.
Over the decade, Ultra Clean Holdings, Inc. shows that management has aggressively returned capital to shareholders by retiring 100.0% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Ultra Clean Holdings, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $17.27 per share.