/
OUR COMPANY We provide equipment, consumables and services for semiconductor device packaging, wafer production and device fabrication. Our products are used to fabricate and package semiconductor devices, such as graphic processing units (GPU s) used in AI applications, silicon carbide (SiC) and silicon (Si) power devices and other optical, analog and digital devices.
The business is unprofitable at the operating level (-35.90% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 21.6% YoY. Margins deteriorated 29.2pp alongside, both lines moving the wrong way.
ROIC dropped from -4.98% to -25.92%, capital efficiency is deteriorating. Operating margin contracted 29.2pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$79M
▼ -21.6% YoY
Net Income (TTM)
$2M
▼ -257.4% YoY
Op. Margin
6.75%
▼ -29.2pp YoY
ROIC
5.75%
▼ -20.9pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$10M
▲ +39.5% YoY
Op. Cash Flow (TTM)
$11M
▼ -20.0% YoY
Net Debt
-$5M
Net Cash Position
Cash & Equiv.
$24M
5Y CAGR: +3.9%
Continue Research