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UCTT (Ultra Clean Holdings) Piotroski F-Score : 8 (As of Jul. 12, 2025)


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What is Ultra Clean Holdings Piotroski F-Score?

Good Sign:

Piotroski F-Score is 8, indicates a very healthy situation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Ultra Clean Holdings has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Ultra Clean Holdings's Piotroski F-Score or its related term are showing as below:

UCTT' s Piotroski F-Score Range Over the Past 10 Years
Min: 2   Med: 5   Max: 8
Current: 8

During the past 13 years, the highest Piotroski F-Score of Ultra Clean Holdings was 8. The lowest was 2. And the median was 5.


Ultra Clean Holdings Piotroski F-Score Historical Data

The historical data trend for Ultra Clean Holdings's Piotroski F-Score 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.

* Premium members only.

Ultra Clean Holdings Piotroski F-Score Chart

Ultra Clean Holdings Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 8.00 5.00 6.00 4.00 7.00

Ultra Clean Holdings Quarterly Data
Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25
Piotroski F-Score 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 3.00 2.00 5.00 7.00 8.00

Competitive Comparison of Ultra Clean Holdings's Piotroski F-Score

For the Semiconductor Equipment & Materials subindustry, Ultra Clean Holdings's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score 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.


Ultra Clean Holdings's Piotroski F-Score Distribution in the Semiconductors Industry

For the Semiconductors industry and Technology sector, Ultra Clean Holdings's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Ultra Clean Holdings's Piotroski F-Score falls into.


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How is the Piotroski F-Score calculated?

* 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.

This Year (Mar25) TTM:Last Year (Mar24) TTM:
Net Income was 19.1 + -2.3 + 16.3 + -5 = $28 Mil.
Cash Flow from Operations was 23.2 + 14.9 + 17.1 + 28.2 = $83 Mil.
Revenue was 516.1 + 540.4 + 563.3 + 518.6 = $2,138 Mil.
Gross Profit was 88.5 + 93.4 + 91.8 + 84 = $358 Mil.
Average Total Assets from the begining of this year (Mar24)
to the end of this year (Mar25) was
(1887.6 + 1927.3 + 1947.5 + 1919.9 + 1891) / 5 = $1914.66 Mil.
Total Assets at the begining of this year (Mar24) was $1,888 Mil.
Long-Term Debt & Capital Lease Obligation was $618 Mil.
Total Current Assets was $948 Mil.
Total Current Liabilities was $313 Mil.
Net Income was -9.4 + -14.5 + -3.8 + -9.4 = $-37 Mil.

Revenue was 421.5 + 435 + 444.7 + 477.7 = $1,779 Mil.
Gross Profit was 68.1 + 65.2 + 71 + 82.6 = $287 Mil.
Average Total Assets from the begining of last year (Mar23)
to the end of last year (Mar24) was
(1865.9 + 1843.7 + 1845.5 + 1867.7 + 1887.6) / 5 = $1862.08 Mil.
Total Assets at the begining of last year (Mar23) was $1,866 Mil.
Long-Term Debt & Capital Lease Obligation was $612 Mil.
Total Current Assets was $909 Mil.
Total Current Liabilities was $329 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Ultra Clean Holdings's current Net Income (TTM) was 28. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Ultra Clean Holdings's current Cash Flow from Operations (TTM) was 83. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Mar24)
=28.1/1887.6
=0.01488663

ROA (Last Year)=Net Income/Total Assets (Mar23)
=-37.1/1865.9
=-0.01988317

Ultra Clean Holdings's return on assets of this year was 0.01488663. Ultra Clean Holdings's return on assets of last year was -0.01988317. ==> This year is higher. ==> Score 1.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Ultra Clean Holdings's current Net Income (TTM) was 28. Ultra Clean Holdings's current Cash Flow from Operations (TTM) was 83. ==> 83 > 28 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Mar25)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar24 to Mar25
=617.8/1914.66
=0.32266825

Gearing (Last Year: Mar24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Mar23 to Mar24
=611.6/1862.08
=0.32844991

Ultra Clean Holdings's gearing of this year was 0.32266825. Ultra Clean Holdings's gearing of last year was 0.32844991. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Mar25)=Total Current Assets/Total Current Liabilities
=947.8/313.2
=3.02618135

Current Ratio (Last Year: Mar24)=Total Current Assets/Total Current Liabilities
=908.7/329.4
=2.75865209

Ultra Clean Holdings's current ratio of this year was 3.02618135. Ultra Clean Holdings's current ratio of last year was 2.75865209. ==> This year's current ratio is higher. ==> Score 1.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Ultra Clean Holdings's number of shares in issue this year was 45.1. Ultra Clean Holdings's number of shares in issue last year was 44.6. ==> There is larger number of shares in issue this year. ==> Score 0.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=357.7/2138.4
=0.1672746

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=286.9/1778.9
=0.16127944

Ultra Clean Holdings's gross margin of this year was 0.1672746. Ultra Clean Holdings's gross margin of last year was 0.16127944. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Mar24)
=2138.4/1887.6
=1.13286713

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Mar23)
=1778.9/1865.9
=0.95337371

Ultra Clean Holdings's asset turnover of this year was 1.13286713. Ultra Clean Holdings's asset turnover of last year was 0.95337371. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+1+1+1+1+0+1+1
=8

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Ultra Clean Holdings has an F-score of 8. It is a good or high score, which usually indicates a very healthy situation.

Ultra Clean Holdings  (NAS:UCTT) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Ultra Clean Holdings Piotroski F-Score Related Terms

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Ultra Clean Holdings Business Description

Traded in Other Exchanges
Address
26462 Corporate Avenue, Hayward, CA, USA, 94545
Ultra Clean Holdings Inc, through its subsidiaries, manufactures and supplies production tools, modules, and subsystems for the semiconductor capital equipment industry. The product includes precision robotic solutions, gas delivery systems, and a variety of industrial and automation production equipment products; subsystems include wafer cleaning subsystems, chemical delivery modules, top-plate assemblies, frame assemblies, and process modules. Its customer base includes firms in the semiconductor capital equipment industry, medical, energy, industrial, flat panel, and research equipment industries. It has two segments Products and Services. Its principal markets are Americas, Asia Pacific and EMEA.
Executives
Jamie J. Palfrey officer: SVP, Global Human Resources ULTRA CLEAN HOLDINGS, INC., 26462 CORPORATE AVENUE, HAYWARD CA 94545
Clarence L Granger director, officer: President, CEO, COO 150 INDEPENDENCE DR, C/O ULTRA CLEAN, MENLO PARK CA 94025
Brian E Harding officer: Chief Accounting Officer 27700 SW PARKWAY AVE, WILSONVILLE OR 97070
Ernest E Maddock director LAM RESEARCH, 4650 CUSHING PARKWAY, FREMONT CA 94538
Christopher S Cook officer: President, Products Div ULTRA CLEAN HOLDINGS, INC., 26462 CORPORATE AVENUE, HAYWARD CA 94545
Bill Bentinck officer: Pres, Semiconductor Svcs Bus. C/O ULTRA CLEAN HOLDINGS, INC., 26462 CORPORATE AVE, HAYWARD CA 94545
Jeffrey L. Mckibben officer: Chief Information Officer C/O ULTRA CLEAN HOLDINGS, INC., 26462 CORPORATE AVENUE, HAYWARD, CA 94545
Sheri Brumm officer: SVP, Finance & CAO C/O ULTRA CLEAN HOLDINGS, INC., 26462 CORPORATE AVENUE, HAYWARD CA 94545
James P Scholhamer director, officer: CEO 9586I-25 FRONTAGE ROAD, LONGMONT CO 80504
Emily M Liggett director
Paul Yoonku Cho officer: General Counsel and Secretary C/O ULTRA CLEAN HOLDINGS, INC., 26462 CORPORATE AVENUE, HAYWARD CA 94545
Vijayan S. Chinnasami officer: Chief Operating Officer C/O ULTRA CLEAN HOLDINGS, INC., 26462 CORPORATE AVENUE, HAYWARD CA 94545
Jacqueline A. Seto director C/O ULTRA CLEAN HOLDINGS, INC., 26462 CORPORATE AVENUE, HAYWARD CA 94545
David T Ibnale director 150 INDEPENDENCE DR, C/O ULTRA CLEAN, MENLO PARK CA 94025
William Joe Williams officer: SVP, Customer Business Mgmt ULTRA CLEAN HOLDINGS, INC., 26462 CORPORATE AVE, HAYWARD CA 94545

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