Ultra Clean Holdings, Inc. (UCTT) FY2025 10-K Annual Report
Ultra Clean Holdings, Inc. (UCTT) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 23, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Ultra Clean Holdings, Inc. FY2025 10-K Analysis
Business Overview
- • Core business not described; filing mainly includes governance, ethics, and compliance disclosures
- • No new products, services, or business segments introduced or emphasized this year
- • Strategic positioning unchanged; focus on compliance with insider trading, code of ethics, and stock incentive plans
- • Equity compensation plan details: 1.6 million securities exercisable, 0.5 million available for issuance under plans
- • Most notable filing-specific fact: multiple amendments to credit agreement with Barclays Bank from 2018 through October 2024
Management Discussion & Analysis
- • Revenue $2,054.0M, down 2.1% YoY; Products $1,799.3M down $54.4M, Services $254.7M up $10.8M
- • Operating margin (5.2%) vs 4.3% in prior year; Products margin (2.6%) vs 4.3%, Services margin (24.0%) vs 4.8%
- • Best segment: Products revenue $1,799.3M with 14.0% gross margin; Worst: Services operating loss $61.2M with -24.0% margin
- • Operating cash flow $65.6M; capex $50.3M; share repurchases increased by $3.4M; dividends not disclosed
- • Management notes goodwill impairment of $151.1M as key risk; expects sufficient liquidity for 12+ months; Pillar Two tax changes may impact FY 2026 results
Risk Factors
- • Export control risk under U.S. Department of Commerce regulations, impacting Asia Pacific and EMEA operations with potential fines, penalties, and export bans
- • Geopolitical exposure to ongoing 2023 Israel-Hamas conflict affecting Asia and EMEA regional stability risks
- • Single-source and sole-source supplier dependency, including customer-designated suppliers and ransomware attack on a key supplier disrupting component supply
- • Market disruption from OEMs internalizing manufacturing and competing cleaning/coating services, risking loss of business and design wins
- • Revenue concentration with top 2 customers accounting for ~57% of sales in fiscal 2025, exposing company to significant customer order volatility
Ultra Clean Holdings, Inc. FY2025 Key Financial MetricsXBRL
Revenue
$2.1B
▼ -2.1% YoY
Net Income
-$181M
▼ -864.6% YoY
Gross Margin
15.7%
▼ -127bp YoY
Operating Margin
-5.2%
▼ -958bp YoY
Net Margin
-8.8%
▼ -995bp YoY
ROE
-25.5%
▼ -2820bp YoY
Total Assets
$1.7B
▼ -9.9% YoY
EPS (Diluted)
$-4.00
▼ -869.2% YoY
Operating Cash Flow
$66M
▲ +0.9% YoY
Source: XBRL data from Ultra Clean Holdings, Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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