Entegris Inc (NASDAQ: ENTG)

Sector: Technology Industry: Semiconductor Equipment & Materials CIK: 0001101302
Market Cap 14.47 Bn
P/B 52.84
P/E -24.73
P/S 36.15
ROIC (Qtr) 5.28
Div Yield % 0.08
Rev 1y % (Qtr) -3.05
Total Debt (Qtr) 3.80 Bn
Debt/Equity (Qtr) 0.96
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About

Investment thesis

Bull case

  • Operating cash flow of 695.40M provides strong 10.03x coverage of stock compensation 69.30M, indicating sustainable incentive practices.
  • Strong operating cash flow of 695.40M provides 1.54x coverage of SG&A expenses 450.60M, showing efficient operational cost management.
  • Operating cash flow of 695.40M fully covers other non-current liabilities 112.30M by 6.19x, showing strong long-term stability.
  • Operating cash flow of 695.40M provides solid 1.42x coverage of current liabilities 488.60M, showing strong operational health.
  • Tangible assets of 3.50B provide robust 11.03x coverage of other current liabilities 317.10M, indicating strong asset backing.

Bear case

  • Operating cash flow of 695.40M barely covers its investment activities of (300.80M), with a coverage ratio of -2.31, indicating heavy reliance on external financing for growth which may not be sustainable in a tighter credit environment.
  • Operating cash flow of 695.40M provides thin coverage of dividend payments of (60.80M) with a -11.44 ratio, suggesting potential dividend sustainability issues if operational performance deteriorates.
  • Investment activities of (300.80M) provide weak support for R&D spending of 329M, which is -0.91x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • Cash reserves of 360.40M provide limited coverage of acquisition spending of (6.70M), which is -53.79x, suggesting aggressive expansion might strain liquidity if market conditions deteriorate.
  • Operating earnings of 453.40M show weak coverage of depreciation charges of 389.70M, with a 1.16 ratio indicating high capital intensity and potential reinvestment needs.

Product and Service Breakdown of Revenue (2025)

Peer comparison

Companies in the Semiconductor Equipment & Materials
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 ASML Asml Holding Nv 606.12 Bn 302.84 75.30 3.18 Bn
2 AMAT Applied Materials Inc /De 329.04 Bn 90.92 19.13 6.56 Bn
3 LRCX Lam Research Corp 298.73 Bn 48.08 14.53 4.48 Bn
4 KLAC Kla Corp 194.01 Bn 42.56 15.22 5.89 Bn
5 TER Teradyne, Inc 47.32 Bn 95.48 17.50 0.27 Bn
6 ENTG Entegris Inc 14.47 Bn -24.73 36.15 3.80 Bn
7 NVMI Nova Ltd. 13.32 Bn 51.37 15.12 0.80 Bn
8 AMKR Amkor Technology, Inc. 11.48 Bn 36.31 1.83 1.89 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 1.74 3.99
EV to Cash from Ops. EV/CFO 485.35 49.55
EV to Debt EV to Debt 3.83 2,495.74
EV to EBIT EV/EBIT -25.56 37.42
EV to EBITDA EV/EBITDA -28.74 21.14
EV to Free Cash Flow [EV/FCF] EV/FCF 3,178.39 178.05
EV to Market Cap EV to Market Cap 1.00 0.92
EV to Revenue EV/Rev 36.32 140.45
Price to Book Value [P/B] P/B 52.84 10.25
Price to Earnings [P/E] P/E -24.73 24.34
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Div Coverage (Qtr) 3.88 0.88
Dividend Payout Ratio % Div Payout % (Qtr) 25.80 3.87
Dividend per Basic Share Div per Share (Qtr) 0.40 0.63
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 15.31 8.65
Interest Coverage Int. cover (Qtr) 2.27 72.17
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) 5.20 -59.12
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 9.48 23.72
Dividend Growth (1y) % Div 1y % (Qtr) 0.00 6.33
EBIAT Growth (1y) % EBIAT 1y % (Qtr) -13.87 -208.83
EBITDA Growth (1y) % EBITDA 1y % (Qtr) -7.29 -73.05
EBIT Growth (1y) % EBIT 1y % (Qtr) -15.46 -107.87
EBT Growth (1y) % EBT 1y % (Qtr) -21.02 -122.68
EPS Growth (1y) % EPS 1y % (Qtr) -20.10 -286.63
FCF Growth (1y) % FCF 1y % (Qtr) 25.34 66.79
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) -4.49 43.99
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.38 0.54
Cash Payout Ratio Cash Payout (Qtr) 0.06 0.05
Cash Ratio Cash Ratio (Qtr) 0.74 1.59
Current Ratio Curr Ratio (Qtr) 3.35 4.17
Debt to Equity Ratio Debt/Equity (Qtr) 0.96 0.30
Interest Cover Ratio Int Coverage (Qtr) 2.27 72.17
Times Interest Earned Times Interest Earned (Qtr) 2.27 72.17
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) 26.40 -1,802.95
EBIT Margin % EBIT Margin % (Qtr) 14.18 -1,926.70
EBT Margin % EBT Margin % (Qtr) 7.93 -1,933.27
Gross Margin % Gross Margin % (Qtr) 44.40 22.53
Net Profit Margin % Net Margin % (Qtr) 7.40 -2,101.41