Ichor Holdings (HAM:4IH) Cyclically Adjusted FCF per Share: €0.77 (As of Jun. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

HAM:4IH Ichor Holdings Ltd HAM:4IH
68 GF Score
Price €44.00
GF Value €29.43
Valuation Significantly Overvalued
! 3 Warning Signs
View Full Analysis

What is Ichor Holdings Cyclically Adjusted FCF per Share?

Ichor Holdings HAM:4IH -7.19% 68 Cyclically Adjusted FCF per Share is €0.77 as of Jun. 2026. GuruFocus rates HAM:4IH with a GF Score™ of 68/100 and a GF Value™ of €29.43 (Significantly Overvalued). The stock has 3 warning signs investors should review.

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted FCF per Share and the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years.

Ichor Holdings's adjusted free cash flow per share for the three months ended in Jun. 2026 was €-0.565. Add all the adjusted free cash flow per share for the past 10 years together and divide the count will get our Cyclically Adjusted FCF per Share, which is €0.77 for the trailing ten years ended in Jun. 2026.

During the past 12 months, Ichor Holdings's average Cyclically Adjusted FCF Growth Rate was -16.20% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted FCF Growth Rate using Cyclically Adjusted FCF per Share data.

As of today (2026-09-02), Ichor Holdings's current stock price is €44.00. Ichor Holdings's Cyclically Adjusted FCF per Share for the quarter that ended in Jun. 2026 was €0.77. Ichor Holdings's Cyclically Adjusted Price-to-FCF of today is 57.14.

During the past 12 years, the highest Cyclically Adjusted Price-to-FCF of Ichor Holdings was 107.85. The lowest was 13.31. And the median was 31.16.


Ichor Holdings  (HAM:4IH) Cyclically Adjusted FCF per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted FCF per Share may underestimate the company's free cash flow. Cyclically Adjusted Price-to-FCF can seem to be too high even the actual Price-to-Free-Cash-Flow is low.

For the Cyclically Adjusted Price-to-FCF, the free cash flow per share of the past 10 years are inflation-adjusted and averaged. The result is used for P/FCF calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted Price-to-FCF is also called CAPFCF Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted free cash flow per share of a company over the past 10 years.

Ichor Holdings's Cyclically Adjusted Price-to-FCF of today is calculated as

Cyclically Adjusted Price-to-FCF=Share Price/Cyclically Adjusted FCF per Share
=44.00/0.77
=57.14

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

During the past 12 years, the highest Cyclically Adjusted Price-to-FCF of Ichor Holdings was 107.85. The lowest was 13.31. And the median was 31.16.


Be Aware

Cyclically Adjusted Price-to-FCF works better for cyclical companies. It gives you a better idea on the company's real free cash flow value.


Ichor Holdings Cyclically Adjusted FCF per Share Related Terms


Ichor Holdings Cyclically Adjusted FCF per Share Historical Data

* Premium members only.

The historical data trend for Ichor Holdings's Cyclically Adjusted FCF per Share can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Ichor Holdings Cyclically Adjusted FCF per Share Chart

Ichor Holdings Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted FCF per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.00 0.00 0.00 0.00 0.89

Ichor Holdings Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted FCF per Share Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.89 0.83 0.77

HAM:4IH vs COHU, PLAB, AEHR: Cyclically Adjusted FCF per Share Comparison

For the Semiconductor Equipment & Materials subindustry, Ichor Holdings's Cyclically Adjusted Price-to-FCF, along with its competitors' market caps and Cyclically Adjusted Price-to-FCF data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Ichor Holdings Cyclically Adjusted Price-to-FCF vs Semiconductors Industry

For the Semiconductors industry and Technology sector, Ichor Holdings's Cyclically Adjusted Price-to-FCF distribution charts can be found below:

* The bar in red indicates where Ichor Holdings's Cyclically Adjusted Price-to-FCF falls into.


HAM:4IH
68GF Score
Ichor Holdings Ltd HAM:4IH
Cyclically Adjusted FCF per Share is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Ichor Holdings Cyclically Adjusted FCF per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted FCF per Share and the Cyclically Adjusted Price-to-FCF. The Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years.

What is Cyclically Adjusted FCF per Share? How do we calculate Cyclically Adjusted FCF per Share?

Cyclically Adjusted FCF per Share is the average of the inflation adjusted Free Cash Flow per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted FCF per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the free cash flow per share from 2001 through 2010.

We adjusted the 2001 free cash flow per share data with the total inflation from 2001 through 2010 to the equivalent free cash flow in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's free cash flow is $1 a share in 2001, then the 2001's equivalent free cash flow in 2010 is $1.4 a share. If Wal-Mart's free cash flow is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 free cash flow in 2010 is $1.35. So on and so forth, you get the equivalent free cash flow per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted FCF per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, Ichor Holdings's adjusted Free Cash Flow per Share data for the three months ended in Jun. 2026 was:

Adj_FreeCashFlowPerShare= Free Cash Flow per Share /CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=-0.565/333.9520*333.9520
=-0.565

Current CPI (Jun. 2026) = 333.9520.

Ichor Holdings Quarterly Data

Free Cash Flow per Share CPI Adj_FreeCashFlowPerShare
201609 -0.050 241.428 -0.069
201612 0.862 241.432 1.192
201703 -0.509 243.801 -0.697
201706 0.555 244.955 0.757
201709 -0.255 246.819 -0.345
201712 1.141 246.524 1.546
201803 -0.135 249.554 -0.181
201806 0.846 251.989 1.121
201809 -0.187 252.439 -0.247
201812 1.169 251.233 1.554
201903 -0.204 254.202 -0.268
201906 0.453 256.143 0.591
201909 0.084 256.759 0.109
201912 1.093 256.974 1.420
202003 -0.918 258.115 -1.188
202006 -0.283 257.797 -0.367
202009 0.752 260.280 0.965
202012 1.293 260.474 1.658
202103 0.592 264.877 0.746
202106 0.093 271.696 0.114
202109 -0.522 274.310 -0.635
202112 -0.344 278.802 -0.412
202203 -1.242 287.504 -1.443
202206 -0.053 296.311 -0.060
202209 0.401 296.808 0.451
202212 1.037 296.797 1.167
202303 -0.570 301.836 -0.631
202306 0.727 305.109 0.796
202309 0.051 307.789 0.055
202312 1.101 306.746 1.199
202403 0.010 312.332 0.011
202406 0.406 314.175 0.432
202409 0.058 315.301 0.061
202412 -0.195 315.605 -0.206
202503 0.014 319.799 0.015
202506 -0.375 322.561 -0.388
202509 0.052 324.800 0.053
202512 0.147 324.054 0.151
202603 -0.249 330.213 -0.252
202606 -0.565 333.952 -0.565

Add all the adjusted free cash flow per share together and divide 10 will get our Cyclically Adjusted FCF per Share.

What does a Cyclically Adjusted FCF per Share of €0.77 mean?
Ichor Holdings (HAM:4IH) has a Cyclically Adjusted FCF per Share of €0.77 as of Jun. 2026. Cyclically Adjusted FCF per Share represents the company's inflation-adjusted FCF per share over a 10-year period. View historical data on Ichor Holdings and its competitors.
Is Ichor Holdings' Cyclically Adjusted FCF per Share too high?
Ichor Holdings' current Cyclically Adjusted FCF per Share is €0.77. Overall, Ichor Holdings has a GF Score™ of 68/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ichor Holdings' Cyclically Adjusted FCF per Share compare to COHU and PLAB?
Ichor Holdings' Cyclically Adjusted FCF per Share of €0.77 can be compared against companies in the Semiconductors industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted FCF per Share for a Semiconductors company?
A good Cyclically Adjusted FCF per Share depends on the Semiconductors industry context. However, Cyclically Adjusted FCF per Share should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted FCF per Share mean?
A high Cyclically Adjusted FCF per Share can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted FCF per Share represents the company's inflation-adjusted FCF per share over a 10-year period. View historical data on Ichor Holdings and its competitors. Ichor Holdings's current Cyclically Adjusted FCF per Share is €0.77. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ichor Holdings stock overvalued right now?
Based on GuruFocus' analysis, Ichor Holdings (HAM:4IH) is currently considered Significantly Overvalued. The stock's GF Value™ is €29.43, compared to a current price of €44.00 — trading 49.5% above its estimated fair value. The current Cyclically Adjusted FCF per Share is €0.77. Ichor Holdings' overall GF Score™ is 68/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted FCF per Share calculated?
Cyclically Adjusted FCF per Share is calculated from a company's financial statements. For Ichor Holdings (HAM:4IH), the current Cyclically Adjusted FCF per Share is €0.77 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Ichor Holdings (HAM:4IH) Overvalued in 2026?

Based on GuruFocus' analysis, Ichor Holdings stock appears to be overvalued. The current stock price of €44.00 is trading 49.5% above its estimated GF Value™ of €29.43. GuruFocus considers Ichor Holdings to be Significantly Overvalued.

Key valuation signals for HAM:4IH:

  • Cyclically Adjusted FCF per Share: €0.77
  • GF Value™: €29.43 vs. price of €44.00 (49.5% above fair value)
  • GF Score™: 68/100 with 3 warning signs

No single metric tells the full story. See the HAM:4IH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Ichor Holdings Business Description

Other Exchanges ICHR:USA0Z0F:UK4IH:Germany
Address 3185 Laurelview Court, Fremont, CA, USA, 94538
Ichor Holdings Ltd designs, engineers, and manufactures critical fluid delivery subsystems and components mainly for semiconductor capital equipment, along with solutions for defense/aerospace and medical industries. Its product portfolio includes gas and chemical delivery subsystems that enable precise delivery, monitoring, and control of specialized gases and reactive liquid chemistries used in semiconductor manufacturing processes such as etch, electroplating, and cleaning. The company also provides precision-machined components, weldments, e-beam and laser-welded components, as well as precision vacuum and hydrogen brazing. Geographically, the company operates across the United States, Singapore, Europe, and other regions, with Singapore contributing the majority of revenue.
68GF Score

Get the complete analysis for HAM:4IH

Cyclically Adjusted FCF per Share is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€44.00
Price
€29.43
GF Value