ICHR ICHOR HOLDINGS, LTD.

Overview and Growth

Fiscal 2025 results for ICHOR HOLDINGS, LTD. combined $947.65M of revenue with net loss of $52.78M and an operating cash inflow of $29.89M. At $947.65M, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Compared with $849.04M in fiscal 2024, revenue recorded a 11.6% year-over-year increase. On a per-share basis, diluted EPS was -$1.54, which connects the reported earnings outcome with the company’s diluted share count. Revenue equaled 1.01x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

The first profit layer was $87.78M of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. Gross margin was 9.3%, so that share of each revenue unit remained after the cost of revenue reported for the period. The company recorded an operating loss of $39.27M after the reported operating expense base. The operating loss equaled 4.1% of revenue, showing the scale of the operating deficit relative to sales. The bottom-line result was a net loss of $52.78M after operating, financing, tax, and other recognized items. The net loss equaled 5.6% of revenue, showing the bottom-line deficit relative to the company’s sales base. The company reported a pretax loss of $47.57M, before the effect of income taxes. Pretax margin was -5.0%, reflecting a pre-tax loss equal to 5.0% of revenue. Income tax expense totaled $5.21M, providing the reported tax component that separates pretax and after-tax earnings. The loss-to-equity relationship was 8.0%, placing the bottom-line deficit against shareholder capital. The net loss equaled 5.6% of period-end assets, showing the deficit relative to the asset base.

Liquidity and Capital Structure

The company held $942.88M of assets against $278.99M of liabilities and $663.89M of equity, revealing how the asset base was financed. Current assets were $410.13M against $129.59M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. Current assets covered current liabilities by 3.16x, leaving a positive buffer for near-term obligations. Cash and equivalents totaled $98.29M, identifying the most liquid reported component available within the broader current-asset balance. The cash balance equaled 75.8% of current liabilities, showing how much near-term coverage came from cash alone. Borrowings totaled $123.53M, adding a fixed financing obligation alongside the company’s equity capital. Against book equity, debt measured 0.19x, placing the company’s financial leverage in clear balance-sheet terms. Relative to total assets, debt measured 13.1%, showing how much of the asset base was matched by borrowing. Relative to total assets, liabilities measured 29.6%, complementing the separate equity-based view of the company’s capital structure. Measured against total assets, cash and equivalents represented 10.4%, a balance-sheet composition measure rather than a liquidity forecast. Total assets were 5.3% lower than fiscal 2024 assets of $995.56M, measuring the company’s own balance-sheet change. Against $698.34M of equity in fiscal 2024, the current book-equity balance moved 4.9% and ended lower.

Cash Flow and Earnings Quality

Operating activities produced a cash inflow of $29.89M, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. The cash-flow statement records $36.17M of capital expenditures, the investment amount considered after operating cash generation. Capital expenditures represented 121.0% of operating cash flow, leaving the remainder available as free cash flow. Operating cash flow and capital spending combined to leave a $6.28M cash deficit after capital spending. Free-cash-flow margin was -0.7%, reflecting a cash deficit equal to 0.7% of revenue after capital spending. Relative to total assets, the post-investment cash deficit measured 0.7%.

Based on the annual report for the fiscal year ending Dec 26, 2025. Analysis generated Oct 21, 2026.