# Semiconductor Equipment & Materials — company-by-company sector analysis > Semiconductor Equipment & Materials: ASML Holding N.V. owns the largest revenue base; Ambarella, Inc. has the fastest current growth. Sector Alpha — machine-written from the numbers. Data as of 2026-08-04. Not investment advice. ## Bottom line Semiconductor Equipment & Materials has outperformed S&P 500 by 157.8% over 52 weeks and 9.6% over 13 weeks. 23 of 28 covered companies beat the S&P 500 on Mansfield relative strength, while 10 of 28 beat the sector itself. ASML Holding N.V. leads with revenue of $35,328 million, based on 17 of 29 comparable companies through Jun 2026. ## Sector relative strength Semiconductor Equipment & Materials has outperformed S&P 500 by 157.8% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 9.6%. 23 of 28 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is selective. Aehr Test Systems, Inc. is the strongest against the sector itself at +65.3%. 13-week sector return versus NIFTY 500: -9.6% 52-week sector return versus NIFTY 500: 158% Stocks leading NIFTY: 23/28 Stocks leading sector: 10/28 Central tension: The central tension: the companies with the most scale are not necessarily the companies creating the most change. Companies: 29 Combined market value: ₹19.6 L Cr ## 4-Factor Sector Score An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment. 1. Teradyne, Inc. (TER): 70/100 — Thin evidence · provisional; evidence 58% - Growth & earnings 24.3/35 | Capital efficiency 18.4/25 | Valuation 10.1/20 | Relative strength 16.8/20 - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 7 of the last 12 weeks - Exact sum: 24.3 + 18.4 + 10.1 + 16.8 = 69.6 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 2. Applied Materials, Inc. (AMAT): 68/100 — Favorable setup; evidence 85% - Growth & earnings 22.1/35 | Capital efficiency 16.4/25 | Valuation 11.1/20 | Relative strength 18.6/20 - Price stage: LEADER — Ahead of the benchmark 13 weeks or more running, and ahead over the past year. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 12 of the last 12 weeks - Exact sum: 22.1 + 16.4 + 11.1 + 18.6 = 68.2 - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. 3. Lam Research Corporation (LRCX): 64/100 — Thin evidence · provisional; evidence 58% - Growth & earnings 21.9/35 | Capital efficiency 19.4/25 | Valuation 9.6/20 | Relative strength 12.9/20 - Price stage: FADING — Was leading by 5% or more four weeks ago and is not now. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 11 of the last 12 weeks - Exact sum: 21.9 + 19.4 + 9.6 + 12.9 = 63.8 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 4. ACM Research, Inc. (ACMR): 61/100 — Mixed-positive evidence; evidence 81% - Growth & earnings 17.6/35 | Capital efficiency 11.8/25 | Valuation 14.7/20 | Relative strength 16.8/20 - Price stage: BREAKING OUT — Ahead of the benchmark five weeks or more running, with its lead holding or widening. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 11 of the last 12 weeks - Exact sum: 17.6 + 11.8 + 14.7 + 16.8 = 60.9 - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. 5. ASML Holding N.V. (ASML): 56/100 — Mixed-positive evidence; evidence 85% - Growth & earnings 22.6/35 | Capital efficiency 17.5/25 | Valuation 4.7/20 | Relative strength 11.3/20 - Price stage: FADING — Was leading by 5% or more four weeks ago and is not now. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 9 of the last 12 weeks - Exact sum: 22.6 + 17.5 + 4.7 + 11.3 = 56.1 - Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression. 6. Kulicke and Soffa Industries, Inc. (KLIC): 55/100 — Thin evidence · provisional; evidence 58% - Growth & earnings 23.2/35 | Capital efficiency 12.6/25 | Valuation 9.8/20 | Relative strength 9.4/20 - Price stage: FADING — Was leading by 5% or more four weeks ago and is not now. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 10 of the last 12 weeks - Exact sum: 23.2 + 12.6 + 9.8 + 9.4 = 55 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 7. FormFactor, Inc. (FORM): 55/100 — Thin evidence · provisional; evidence 58% - Growth & earnings 22.5/35 | Capital efficiency 12.7/25 | Valuation 9.0/20 | Relative strength 10.4/20 - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 7 of the last 12 weeks - Exact sum: 22.5 + 12.7 + 9 + 10.4 = 54.6 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 8. KLA Corporation (KLAC): 54/100 — Thin evidence · provisional; evidence 58% - Growth & earnings 16.4/35 | Capital efficiency 18.2/25 | Valuation 9.2/20 | Relative strength 10.5/20 - Price stage: FADING — Was leading by 5% or more four weeks ago and is not now. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 10 of the last 12 weeks - Exact sum: 16.4 + 18.2 + 9.2 + 10.5 = 54.3 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 9. Cohu, Inc. (COHU): 53/100 — Thin evidence · provisional; evidence 58% - Growth & earnings 20.1/35 | Capital efficiency 5.4/25 | Valuation 9.9/20 | Relative strength 17.4/20 - Price stage: FADING — Was leading by 5% or more four weeks ago and is not now. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 9 of the last 12 weeks - Exact sum: 20.1 + 5.4 + 9.9 + 17.4 = 52.8 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 10. AXT, Inc. (AXTI): 51/100 — Thin evidence · provisional; evidence 58% - Growth & earnings 22.1/35 | Capital efficiency 7.0/25 | Valuation 8.5/20 | Relative strength 13.7/20 - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 5 of the last 12 weeks - Exact sum: 22.1 + 7 + 8.5 + 13.7 = 51.3 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 11. Aehr Test Systems, Inc. (AEHR): 49/100 — Thin evidence · provisional; evidence 58% - Growth & earnings 15.7/35 | Capital efficiency 5.0/25 | Valuation 11.5/20 | Relative strength 16.6/20 - Price stage: TURNING — Ahead of the benchmark for one to four weeks, after a stretch of being behind. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 8 of the last 12 weeks - Exact sum: 15.7 + 5 + 11.5 + 16.6 = 48.8 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 12. Amkor Technology, Inc. (AMKR): 48/100 — Thin evidence · provisional; evidence 58% - Growth & earnings 21.0/35 | Capital efficiency 12.5/25 | Valuation 10.8/20 | Relative strength 4.0/20 - Price stage: FADING — Was leading by 5% or more four weeks ago and is not now. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 8 of the last 12 weeks - Exact sum: 21 + 12.5 + 10.8 + 4 = 48.3 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 13. Amtech Systems, Inc. (ASYS): 48/100 — Thin evidence · provisional; evidence 58% - Growth & earnings 20.5/35 | Capital efficiency 9.3/25 | Valuation 9.3/20 | Relative strength 9.1/20 - Price stage: FADING — Was leading by 5% or more four weeks ago and is not now. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 8 of the last 12 weeks - Exact sum: 20.5 + 9.3 + 9.3 + 9.1 = 48.2 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 14. Ichor Holdings, Ltd. (ICHR): 47/100 — Mixed-negative evidence; evidence 64% - Growth & earnings 16.6/35 | Capital efficiency 5.8/25 | Valuation 10.4/20 | Relative strength 14.2/20 - Price stage: FADING — Was leading by 5% or more four weeks ago and is not now. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 11 of the last 12 weeks - Exact sum: 16.6 + 5.8 + 10.4 + 14.2 = 47 - Decision use: Price leads the evidence: RS versus the benchmark is 48.4%, but earnings trajectory is weak. Wait for revenue and profit confirmation. 15. Nova Ltd. (NVMI): 46/100 — Mixed-negative evidence; evidence 81% - Growth & earnings 21.4/35 | Capital efficiency 15.7/25 | Valuation 6.7/20 | Relative strength 2.6/20 - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 4 of the last 12 weeks - Exact sum: 21.4 + 15.7 + 6.7 + 2.6 = 46.4 - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. 16. Photronics, Inc. (PLAB): 45/100 — Mixed-negative evidence; evidence 85% - Growth & earnings 14.4/35 | Capital efficiency 13.8/25 | Valuation 16.3/20 | Relative strength 0.9/20 - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 1 of the last 12 weeks - Exact sum: 14.4 + 13.8 + 16.3 + 0.9 = 45.4 - Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. 17. Ultra Clean Holdings, Inc. (UCTT): 44/100 — Mixed-negative evidence; evidence 64% - Growth & earnings 12.9/35 | Capital efficiency 6.6/25 | Valuation 10.9/20 | Relative strength 13.9/20 - Price stage: FADING — Was leading by 5% or more four weeks ago and is not now. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 11 of the last 12 weeks - Exact sum: 12.9 + 6.6 + 10.9 + 13.9 = 44.3 - Decision use: Price leads the evidence: RS versus the benchmark is 40.5%, but earnings trajectory is weak. Wait for revenue and profit confirmation. 18. Onto Innovation Inc. (ONTO): 44/100 — Thin evidence · provisional; evidence 56% - Growth & earnings 12.9/35 | Capital efficiency 9.9/25 | Valuation 10.2/20 | Relative strength 11.3/20 - Price stage: FADING — Was leading by 5% or more four weeks ago and is not now. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 8 of the last 12 weeks - Exact sum: 12.9 + 9.9 + 10.2 + 11.3 = 44.3 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 19. Ambarella, Inc. (AMBA): 44/100 — Mixed-negative evidence; evidence 64% - Growth & earnings 22.3/35 | Capital efficiency 3.5/25 | Valuation 10.0/20 | Relative strength 8.4/20 - Price stage: FADING — Was leading by 5% or more four weeks ago and is not now. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 9 of the last 12 weeks - Exact sum: 22.3 + 3.5 + 10 + 8.4 = 44.2 - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. 20. InTest Corporation (INTT): 44/100 — Thin evidence · provisional; evidence 58% - Growth & earnings 19.5/35 | Capital efficiency 8.2/25 | Valuation 8.6/20 | Relative strength 7.7/20 - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 4 of the last 12 weeks - Exact sum: 19.5 + 8.2 + 8.6 + 7.7 = 44 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 21. Entegris, Inc. (ENTG): 43/100 — Mixed-negative evidence; evidence 81% - Growth & earnings 14.5/35 | Capital efficiency 10.9/25 | Valuation 7.7/20 | Relative strength 9.5/20 - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 4 of the last 12 weeks - Exact sum: 14.5 + 10.9 + 7.7 + 9.5 = 42.6 - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. 22. Camtek Ltd. (CAMT): 39/100 — Mixed-negative evidence; evidence 81% - Growth & earnings 11.0/35 | Capital efficiency 13.5/25 | Valuation 11.8/20 | Relative strength 3.0/20 - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 1 of the last 12 weeks - Exact sum: 11 + 13.5 + 11.8 + 3 = 39.3 - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. 23. IPG Photonics Corporation (IPGP): 39/100 — Mixed-negative evidence; evidence 74% - Growth & earnings 14.8/35 | Capital efficiency 6.8/25 | Valuation 13.0/20 | Relative strength 4.6/20 - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks - Exact sum: 14.8 + 6.8 + 13 + 4.6 = 39.2 - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. 24. Axcelis Technologies, Inc. (ACLS): 39/100 — Mixed-negative evidence; evidence 81% - Growth & earnings 7.8/35 | Capital efficiency 9.8/25 | Valuation 12.5/20 | Relative strength 8.5/20 - Price stage: FADING — Was leading by 5% or more four weeks ago and is not now. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 9 of the last 12 weeks - Exact sum: 7.8 + 9.8 + 12.5 + 8.5 = 38.6 - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. 25. Veeco Instruments Inc. (VECO): 37/100 — Mixed-negative evidence; evidence 81% - Growth & earnings 6.8/35 | Capital efficiency 7.2/25 | Valuation 13.7/20 | Relative strength 9.4/20 - Price stage: FADING — Was leading by 5% or more four weeks ago and is not now. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 9 of the last 12 weeks - Exact sum: 6.8 + 7.2 + 13.7 + 9.4 = 37.1 - Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. 26. Daqo New Energy Corp. (DQ): 28/100 — Thin evidence · provisional; evidence 58% - Growth & earnings 9.2/35 | Capital efficiency 4.4/25 | Valuation 11.4/20 | Relative strength 3.0/20 - Price stage: BASING — Behind the benchmark by 5% or more over the past year and still not ahead, but no longer falling further behind. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 0 of the last 12 weeks - Exact sum: 9.2 + 4.4 + 11.4 + 3 = 28 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 27. Trio-Tech International (TRT): 53/100 — Thin evidence · provisional; evidence 14% - Growth & earnings 17.5/35 | Capital efficiency 12.5/25 | Valuation 10.0/20 | Relative strength 13.0/20 - Led NIFTY 500 by 5%+ over the prior 13 weeks in 8 of 8 weeks with a reading, within the last 12, ending 2026-07-10 (no longer priced) - Exact sum: 17.5 + 12.5 + 10 + 13 = 53 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 28. Qnity Electronics, Inc. (Q): 52/100 — Thin evidence · provisional; evidence 38% - Growth & earnings 16.7/35 | Capital efficiency 15.0/25 | Valuation 10.5/20 | Relative strength 10.0/20 - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 7 of the last 12 weeks - Exact sum: 16.7 + 15 + 10.5 + 10 = 52.2 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. 29. Atomera Incorporated (ATOM): 44/100 — Thin evidence · provisional; evidence 43% - Growth & earnings 21.8/35 | Capital efficiency 4.9/25 | Valuation 10.0/20 | Relative strength 7.1/20 - Price stage: FADING — Was leading by 5% or more four weeks ago and is not now. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 8 of the last 12 weeks - Exact sum: 21.8 + 4.9 + 10 + 7.1 = 43.8 - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. ## Market action AXT, Inc. has the strongest one-year price move in Semiconductor Equipment & Materials at +2950%. Aehr Test Systems, Inc. leads on Mansfield relative strength against the S&P 500 at +106.2%. 23 of 28 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-08-04. ### Strongest one-year price performers 1. AXT, Inc. (AXTI): 2,950% 2. Aehr Test Systems, Inc. (AEHR): 504% 3. FormFactor, Inc. (FORM): 321% 4. Ichor Holdings, Ltd. (ICHR): 309% 5. Teradyne, Inc. (TER): 275% ### Strongest relative strength versus NIFTY 500 1. Aehr Test Systems, Inc. (AEHR): 106% 2. AXT, Inc. (AXTI): 51% 3. Ichor Holdings, Ltd. (ICHR): 48% 4. Applied Materials, Inc. (AMAT): 45% 5. Trio-Tech International (TRT): 44% ## Revenue Scale & Growth Durability What the numbers say: ASML Holding N.V. is the scale leader at $35,328 million, 21.7% ahead of Applied Materials, Inc.. Ambarella, Inc.'s growth is 27.8% from a $405 million base, with 20 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale. Investor read: ASML Holding N.V. is the scale benchmark; Ambarella, Inc. is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns. This conclusion weakens if: ASML Holding N.V.'s growth falls below Ambarella, Inc.'s for two consecutive comparable reports while operating margin also compresses. Evidence: ASML Holding N.V. · $35,328 million | 21.7% versus #2 · Applied Materials, Inc. | 8/8 recent comparable periods | 17/29 companies · 504 observations Definition: Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress. ### Revenue — largest 1. ASML Holding N.V. (ASML): ₹35.3K Cr 2. Applied Materials, Inc. (AMAT): ₹29.0K Cr 3. Qnity Electronics, Inc. (Q): ₹5.0K Cr 4. Entegris, Inc. (ENTG): ₹3.2K Cr 5. Ultra Clean Holdings, Inc. (UCTT): ₹2.1K Cr ### Revenue growth — fastest growers 1. Ambarella, Inc. (AMBA): 28% 2. Nova Ltd. (NVMI): 21% 3. ACM Research, Inc. (ACMR): 20% 4. Camtek Ltd. (CAMT): 11% 5. ASML Holding N.V. (ASML): 9.8% ### 20-quarter Revenue history - ASML: Sep 2021 ₹4.0K Cr | Dec 2021 ₹5.2K Cr | Mar 2022 — | Jun 2022 ₹3.5K Cr | Sep 2022 ₹5.4K Cr | Dec 2022 ₹5.8K Cr | Mar 2023 — | Jun 2023 ₹6.7K Cr | Sep 2023 ₹6.9K Cr | Dec 2023 ₹6.7K Cr | Mar 2024 ₹5.3K Cr | Jun 2024 ₹6.2K Cr | Sep 2024 ₹7.5K Cr | Dec 2024 ₹9.3K Cr | Mar 2025 ₹7.7K Cr | Jun 2025 ₹7.7K Cr | Sep 2025 ₹7.5K Cr | Dec 2025 ₹9.7K Cr | Mar 2026 ₹8.8K Cr | Jun 2026 ₹9.3K Cr - AMAT: Sep 2021 ₹6.2K Cr | Dec 2021 ₹6.1K Cr | Mar 2022 ₹6.3K Cr | Jun 2022 ₹6.2K Cr | Sep 2022 ₹6.5K Cr | Dec 2022 ₹6.7K Cr | Mar 2023 ₹6.7K Cr | Jun 2023 ₹6.6K Cr | Sep 2023 ₹6.4K Cr | Dec 2023 ₹6.7K Cr | Mar 2024 ₹6.7K Cr | Jun 2024 ₹6.6K Cr | Sep 2024 ₹6.8K Cr | Dec 2024 ₹7.0K Cr | Mar 2025 ₹7.2K Cr | Jun 2025 ₹7.1K Cr | Sep 2025 ₹7.3K Cr | Dec 2025 ₹6.8K Cr | Mar 2026 ₹7.0K Cr | Jun 2026 ₹7.9K Cr - LRCX: Sep 2021 ₹4.3K Cr | Dec 2021 ₹4.2K Cr | Mar 2022 ₹4.1K Cr | Jun 2022 ₹4.6K Cr | Sep 2022 ₹5.1K Cr | Dec 2022 ₹5.3K Cr | Mar 2023 ₹3.9K Cr | Jun 2023 ₹3.2K Cr | Sep 2023 ₹3.5K Cr | Dec 2023 ₹3.8K Cr | Mar 2024 ₹3.8K Cr | Jun 2024 ₹3.9K Cr | Sep 2024 ₹4.2K Cr | Dec 2024 ₹4.4K Cr | Mar 2025 ₹4.7K Cr | Jun 2025 ₹5.2K Cr | Sep 2025 ₹5.3K Cr | Dec 2025 ₹5.3K Cr | Mar 2026 ₹5.8K Cr | Jun 2026 — - KLAC: Sep 2021 ₹2.1K Cr | Dec 2021 ₹2.4K Cr | Mar 2022 ₹2.3K Cr | Jun 2022 ₹2.5K Cr | Sep 2022 ₹2.7K Cr | Dec 2022 ₹3.0K Cr | Mar 2023 ₹2.4K Cr | Jun 2023 ₹2.4K Cr | Sep 2023 ₹2.4K Cr | Dec 2023 ₹2.5K Cr | Mar 2024 ₹2.4K Cr | Jun 2024 ₹2.6K Cr | Sep 2024 ₹2.8K Cr | Dec 2024 ₹3.1K Cr | Mar 2025 ₹3.1K Cr | Jun 2025 ₹3.2K Cr | Sep 2025 ₹3.2K Cr | Dec 2025 ₹3.3K Cr | Mar 2026 ₹3.4K Cr | Jun 2026 — - TER: Sep 2021 ₹1.1K Cr | Dec 2021 ₹951 Cr | Mar 2022 — | Jun 2022 ₹755 Cr | Sep 2022 ₹841 Cr | Dec 2022 ₹827 Cr | Mar 2023 — | Jun 2023 ₹618 Cr | Sep 2023 ₹684 Cr | Dec 2023 ₹704 Cr | Mar 2024 ₹600 Cr | Jun 2024 ₹730 Cr | Sep 2024 ₹737 Cr | Dec 2024 ₹753 Cr | Mar 2025 ₹686 Cr | Jun 2025 ₹652 Cr | Sep 2025 ₹769 Cr | Dec 2025 ₹1.1K Cr | Mar 2026 ₹1.3K Cr | Jun 2026 — - Q: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 ₹1.1K Cr | Dec 2024 ₹1.1K Cr | Mar 2025 ₹1.1K Cr | Jun 2025 ₹1.2K Cr | Sep 2025 ₹1.3K Cr | Dec 2025 ₹1.2K Cr | Mar 2026 ₹1.3K Cr | Jun 2026 — - ENTG: Sep 2021 ₹571 Cr | Dec 2021 ₹579 Cr | Mar 2022 — | Jun 2022 ₹650 Cr | Sep 2022 ₹692 Cr | Dec 2022 ₹994 Cr | Mar 2023 — | Jun 2023 ₹922 Cr | Sep 2023 ₹901 Cr | Dec 2023 ₹812 Cr | Mar 2024 ₹771 Cr | Jun 2024 ₹813 Cr | Sep 2024 ₹808 Cr | Dec 2024 ₹850 Cr | Mar 2025 ₹773 Cr | Jun 2025 ₹792 Cr | Sep 2025 ₹807 Cr | Dec 2025 ₹824 Cr | Mar 2026 ₹812 Cr | Jun 2026 — - ONTO: Sep 2021 ₹201 Cr | Dec 2021 — | Mar 2022 ₹226 Cr | Jun 2022 ₹241 Cr | Sep 2022 ₹256 Cr | Dec 2022 ₹254 Cr | Mar 2023 — | Jun 2023 ₹199 Cr | Sep 2023 ₹191 Cr | Dec 2023 ₹219 Cr | Mar 2024 ₹229 Cr | Jun 2024 ₹242 Cr | Sep 2024 ₹252 Cr | Dec 2024 ₹264 Cr | Mar 2025 ₹267 Cr | Jun 2025 ₹254 Cr | Sep 2025 ₹218 Cr | Dec 2025 — | Mar 2026 ₹267 Cr | Jun 2026 — - AMKR: Sep 2021 ₹1.7K Cr | Dec 2021 ₹1.7K Cr | Mar 2022 ₹1.6K Cr | Jun 2022 ₹1.5K Cr | Sep 2022 ₹2.1K Cr | Dec 2022 ₹1.9K Cr | Mar 2023 ₹1.5K Cr | Jun 2023 ₹1.5K Cr | Sep 2023 ₹1.8K Cr | Dec 2023 ₹1.8K Cr | Mar 2024 ₹1.4K Cr | Jun 2024 ₹1.5K Cr | Sep 2024 ₹1.9K Cr | Dec 2024 ₹1.6K Cr | Mar 2025 ₹1.3K Cr | Jun 2025 ₹1.5K Cr | Sep 2025 ₹2.0K Cr | Dec 2025 ₹1.9K Cr | Mar 2026 ₹1.7K Cr | Jun 2026 — - NVMI: Sep 2021 ₹113 Cr | Dec 2021 ₹122 Cr | Mar 2022 ₹134 Cr | Jun 2022 ₹142 Cr | Sep 2022 ₹144 Cr | Dec 2022 ₹151 Cr | Mar 2023 ₹132 Cr | Jun 2023 ₹123 Cr | Sep 2023 ₹129 Cr | Dec 2023 ₹134 Cr | Mar 2024 ₹142 Cr | Jun 2024 ₹157 Cr | Sep 2024 ₹179 Cr | Dec 2024 ₹195 Cr | Mar 2025 ₹213 Cr | Jun 2025 ₹220 Cr | Sep 2025 ₹225 Cr | Dec 2025 ₹223 Cr | Mar 2026 ₹235 Cr | Jun 2026 — - FORM: Sep 2021 ₹190 Cr | Dec 2021 ₹205 Cr | Mar 2022 ₹197 Cr | Jun 2022 ₹204 Cr | Sep 2022 ₹181 Cr | Dec 2022 ₹166 Cr | Mar 2023 — | Jun 2023 ₹167 Cr | Sep 2023 ₹156 Cr | Dec 2023 ₹168 Cr | Mar 2024 ₹169 Cr | Jun 2024 ₹197 Cr | Sep 2024 ₹208 Cr | Dec 2024 ₹189 Cr | Mar 2025 ₹171 Cr | Jun 2025 ₹196 Cr | Sep 2025 ₹203 Cr | Dec 2025 ₹215 Cr | Mar 2026 ₹226 Cr | Jun 2026 — - CAMT: Sep 2021 ₹71 Cr | Dec 2021 ₹74 Cr | Mar 2022 ₹77 Cr | Jun 2022 ₹80 Cr | Sep 2022 ₹82 Cr | Dec 2022 ₹82 Cr | Mar 2023 ₹72 Cr | Jun 2023 ₹74 Cr | Sep 2023 ₹80 Cr | Dec 2023 ₹89 Cr | Mar 2024 ₹97 Cr | Jun 2024 ₹103 Cr | Sep 2024 ₹112 Cr | Dec 2024 ₹117 Cr | Mar 2025 ₹119 Cr | Jun 2025 ₹123 Cr | Sep 2025 ₹126 Cr | Dec 2025 ₹128 Cr | Mar 2026 ₹122 Cr | Jun 2026 — - ACMR: Sep 2021 ₹67 Cr | Dec 2021 ₹95 Cr | Mar 2022 ₹42 Cr | Jun 2022 ₹104 Cr | Sep 2022 ₹134 Cr | Dec 2022 ₹109 Cr | Mar 2023 ₹74 Cr | Jun 2023 ₹145 Cr | Sep 2023 ₹169 Cr | Dec 2023 ₹170 Cr | Mar 2024 ₹152 Cr | Jun 2024 ₹202 Cr | Sep 2024 ₹204 Cr | Dec 2024 ₹223 Cr | Mar 2025 ₹172 Cr | Jun 2025 ₹215 Cr | Sep 2025 ₹269 Cr | Dec 2025 ₹244 Cr | Mar 2026 ₹231 Cr | Jun 2026 — - KLIC: Sep 2021 ₹424 Cr | Dec 2021 ₹485 Cr | Mar 2022 ₹461 Cr | Jun 2022 ₹384 Cr | Sep 2022 ₹372 Cr | Dec 2022 ₹286 Cr | Mar 2023 — | Jun 2023 ₹173 Cr | Sep 2023 ₹191 Cr | Dec 2023 ₹171 Cr | Mar 2024 ₹172 Cr | Jun 2024 ₹182 Cr | Sep 2024 ₹181 Cr | Dec 2024 ₹166 Cr | Mar 2025 ₹162 Cr | Jun 2025 ₹148 Cr | Sep 2025 — | Dec 2025 ₹178 Cr | Mar 2026 ₹200 Cr | Jun 2026 ₹243 Cr - ACLS: Sep 2021 ₹177 Cr | Dec 2021 ₹206 Cr | Mar 2022 ₹204 Cr | Jun 2022 ₹221 Cr | Sep 2022 ₹229 Cr | Dec 2022 ₹266 Cr | Mar 2023 ₹254 Cr | Jun 2023 ₹274 Cr | Sep 2023 ₹292 Cr | Dec 2023 ₹310 Cr | Mar 2024 ₹252 Cr | Jun 2024 ₹257 Cr | Sep 2024 ₹257 Cr | Dec 2024 ₹252 Cr | Mar 2025 ₹193 Cr | Jun 2025 ₹195 Cr | Sep 2025 ₹214 Cr | Dec 2025 ₹238 Cr | Mar 2026 ₹199 Cr | Jun 2026 — - AXTI: Sep 2021 ₹35 Cr | Dec 2021 ₹38 Cr | Mar 2022 ₹40 Cr | Jun 2022 ₹39 Cr | Sep 2022 ₹35 Cr | Dec 2022 ₹27 Cr | Mar 2023 ₹19 Cr | Jun 2023 ₹19 Cr | Sep 2023 ₹17 Cr | Dec 2023 ₹20 Cr | Mar 2024 ₹23 Cr | Jun 2024 ₹28 Cr | Sep 2024 ₹24 Cr | Dec 2024 ₹25 Cr | Mar 2025 ₹19 Cr | Jun 2025 ₹18 Cr | Sep 2025 ₹28 Cr | Dec 2025 ₹23 Cr | Mar 2026 ₹27 Cr | Jun 2026 — - IPGP: Sep 2021 ₹379 Cr | Dec 2021 ₹364 Cr | Mar 2022 ₹370 Cr | Jun 2022 ₹377 Cr | Sep 2022 ₹349 Cr | Dec 2022 ₹334 Cr | Mar 2023 ₹347 Cr | Jun 2023 ₹340 Cr | Sep 2023 ₹301 Cr | Dec 2023 ₹299 Cr | Mar 2024 ₹252 Cr | Jun 2024 ₹258 Cr | Sep 2024 ₹233 Cr | Dec 2024 ₹234 Cr | Mar 2025 ₹228 Cr | Jun 2025 ₹251 Cr | Sep 2025 ₹251 Cr | Dec 2025 ₹274 Cr | Mar 2026 ₹265 Cr | Jun 2026 — - UCTT: Sep 2021 ₹554 Cr | Dec 2021 ₹615 Cr | Mar 2022 — | Jun 2022 ₹564 Cr | Sep 2022 ₹609 Cr | Dec 2022 ₹566 Cr | Mar 2023 ₹433 Cr | Jun 2023 ₹422 Cr | Sep 2023 ₹435 Cr | Dec 2023 ₹445 Cr | Mar 2024 ₹478 Cr | Jun 2024 ₹516 Cr | Sep 2024 ₹540 Cr | Dec 2024 ₹563 Cr | Mar 2025 ₹519 Cr | Jun 2025 ₹519 Cr | Sep 2025 ₹510 Cr | Dec 2025 ₹507 Cr | Mar 2026 ₹534 Cr | Jun 2026 — - AMBA: Sep 2021 ₹79 Cr | Dec 2021 ₹92 Cr | Mar 2022 ₹90 Cr | Jun 2022 ₹90 Cr | Sep 2022 ₹81 Cr | Dec 2022 ₹83 Cr | Mar 2023 ₹83 Cr | Jun 2023 ₹62 Cr | Sep 2023 ₹62 Cr | Dec 2023 ₹51 Cr | Mar 2024 ₹52 Cr | Jun 2024 ₹54 Cr | Sep 2024 ₹64 Cr | Dec 2024 ₹83 Cr | Mar 2025 ₹84 Cr | Jun 2025 ₹86 Cr | Sep 2025 ₹96 Cr | Dec 2025 ₹108 Cr | Mar 2026 ₹101 Cr | Jun 2026 ₹100 Cr - AEHR: Sep 2021 ₹6 Cr | Dec 2021 ₹10 Cr | Mar 2022 ₹15 Cr | Jun 2022 ₹20 Cr | Sep 2022 ₹11 Cr | Dec 2022 ₹15 Cr | Mar 2023 ₹17 Cr | Jun 2023 ₹22 Cr | Sep 2023 ₹21 Cr | Dec 2023 ₹21 Cr | Mar 2024 ₹8 Cr | Jun 2024 ₹17 Cr | Sep 2024 ₹13 Cr | Dec 2024 ₹13 Cr | Mar 2025 ₹18 Cr | Jun 2025 ₹14 Cr | Sep 2025 ₹11 Cr | Dec 2025 ₹10 Cr | Mar 2026 ₹10 Cr | Jun 2026 — - VECO: Sep 2021 ₹150 Cr | Dec 2021 ₹153 Cr | Mar 2022 ₹156 Cr | Jun 2022 ₹164 Cr | Sep 2022 ₹172 Cr | Dec 2022 ₹154 Cr | Mar 2023 ₹154 Cr | Jun 2023 ₹162 Cr | Sep 2023 ₹177 Cr | Dec 2023 ₹174 Cr | Mar 2024 ₹174 Cr | Jun 2024 ₹176 Cr | Sep 2024 ₹185 Cr | Dec 2024 ₹182 Cr | Mar 2025 ₹167 Cr | Jun 2025 ₹166 Cr | Sep 2025 ₹166 Cr | Dec 2025 ₹165 Cr | Mar 2026 ₹158 Cr | Jun 2026 — - ICHR: Sep 2021 ₹263 Cr | Dec 2021 ₹287 Cr | Mar 2022 — | Jun 2022 ₹293 Cr | Sep 2022 ₹330 Cr | Dec 2022 ₹302 Cr | Mar 2023 ₹226 Cr | Jun 2023 ₹185 Cr | Sep 2023 ₹197 Cr | Dec 2023 ₹203 Cr | Mar 2024 ₹201 Cr | Jun 2024 ₹203 Cr | Sep 2024 ₹211 Cr | Dec 2024 ₹233 Cr | Mar 2025 ₹244 Cr | Jun 2025 ₹240 Cr | Sep 2025 ₹239 Cr | Dec 2025 ₹224 Cr | Mar 2026 ₹256 Cr | Jun 2026 — - COHU: Sep 2021 ₹225 Cr | Dec 2021 ₹192 Cr | Mar 2022 ₹198 Cr | Jun 2022 ₹217 Cr | Sep 2022 ₹207 Cr | Dec 2022 ₹191 Cr | Mar 2023 — | Jun 2023 ₹179 Cr | Sep 2023 ₹169 Cr | Dec 2023 ₹137 Cr | Mar 2024 ₹108 Cr | Jun 2024 ₹105 Cr | Sep 2024 ₹95 Cr | Dec 2024 ₹94 Cr | Mar 2025 ₹97 Cr | Jun 2025 ₹108 Cr | Sep 2025 ₹126 Cr | Dec 2025 ₹122 Cr | Mar 2026 ₹125 Cr | Jun 2026 — - PLAB: Sep 2021 ₹171 Cr | Dec 2021 ₹181 Cr | Mar 2022 ₹190 Cr | Jun 2022 ₹205 Cr | Sep 2022 ₹220 Cr | Dec 2022 ₹210 Cr | Mar 2023 ₹211 Cr | Jun 2023 ₹229 Cr | Sep 2023 ₹224 Cr | Dec 2023 ₹227 Cr | Mar 2024 ₹216 Cr | Jun 2024 ₹217 Cr | Sep 2024 ₹211 Cr | Dec 2024 ₹223 Cr | Mar 2025 ₹212 Cr | Jun 2025 ₹211 Cr | Sep 2025 ₹210 Cr | Dec 2025 ₹216 Cr | Mar 2026 ₹225 Cr | Jun 2026 ₹210 Cr - DQ: Sep 2021 ₹586 Cr | Dec 2021 ₹396 Cr | Mar 2022 ₹1.3K Cr | Jun 2022 ₹1.2K Cr | Sep 2022 ₹1.2K Cr | Dec 2022 ₹864 Cr | Mar 2023 ₹710 Cr | Jun 2023 ₹637 Cr | Sep 2023 ₹485 Cr | Dec 2023 ₹476 Cr | Mar 2024 ₹415 Cr | Jun 2024 ₹220 Cr | Sep 2024 ₹198 Cr | Dec 2024 ₹195 Cr | Mar 2025 ₹124 Cr | Jun 2025 ₹75 Cr | Sep 2025 ₹245 Cr | Dec 2025 ₹222 Cr | Mar 2026 ₹27 Cr | Jun 2026 — - ASYS: Sep 2021 ₹24 Cr | Dec 2021 ₹26 Cr | Mar 2022 ₹28 Cr | Jun 2022 ₹20 Cr | Sep 2022 ₹32 Cr | Dec 2022 ₹22 Cr | Mar 2023 ₹33 Cr | Jun 2023 ₹31 Cr | Sep 2023 ₹28 Cr | Dec 2023 ₹25 Cr | Mar 2024 ₹25 Cr | Jun 2024 ₹27 Cr | Sep 2024 ₹24 Cr | Dec 2024 ₹24 Cr | Mar 2025 ₹16 Cr | Jun 2025 ₹20 Cr | Sep 2025 ₹20 Cr | Dec 2025 ₹19 Cr | Mar 2026 ₹20 Cr | Jun 2026 — - ATOM: Sep 2021 — | Dec 2021 ₹0 Cr | Mar 2022 ₹0 Cr | Jun 2022 — | Sep 2022 ₹0 Cr | Dec 2022 ₹0 Cr | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 ₹1 Cr | Mar 2024 ₹0 Cr | Jun 2024 ₹0 Cr | Sep 2024 ₹0 Cr | Dec 2024 ₹0 Cr | Mar 2025 ₹0 Cr | Jun 2025 — | Sep 2025 ₹0 Cr | Dec 2025 ₹0 Cr | Mar 2026 ₹0 Cr | Jun 2026 — - INTT: Sep 2021 ₹21 Cr | Dec 2021 ₹22 Cr | Mar 2022 ₹24 Cr | Jun 2022 ₹30 Cr | Sep 2022 ₹31 Cr | Dec 2022 ₹32 Cr | Mar 2023 ₹32 Cr | Jun 2023 ₹33 Cr | Sep 2023 ₹31 Cr | Dec 2023 ₹28 Cr | Mar 2024 ₹30 Cr | Jun 2024 ₹34 Cr | Sep 2024 ₹30 Cr | Dec 2024 ₹37 Cr | Mar 2025 ₹27 Cr | Jun 2025 ₹28 Cr | Sep 2025 ₹26 Cr | Dec 2025 ₹33 Cr | Mar 2026 ₹34 Cr | Jun 2026 — ### 20-quarter Revenue growth history - ASML: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 35% | Dec 2022 10% | Mar 2023 — | Jun 2023 91% | Sep 2023 27% | Dec 2023 15% | Mar 2024 — | Jun 2024 -7.5% | Sep 2024 8.2% | Dec 2024 39% | Mar 2025 46% | Jun 2025 23% | Sep 2025 0.7% | Dec 2025 4.9% | Mar 2026 13% | Jun 2026 21% - AMAT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 5.2% | Dec 2022 10% | Mar 2023 7.5% | Jun 2023 6.2% | Sep 2023 -1.5% | Dec 2023 -0.4% | Mar 2024 -0.5% | Jun 2024 0.2% | Sep 2024 5.5% | Dec 2024 4.8% | Mar 2025 6.8% | Jun 2025 6.8% | Sep 2025 7.7% | Dec 2025 -3.5% | Mar 2026 -2.2% | Jun 2026 11% - LRCX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 12% | Sep 2022 18% | Dec 2022 25% | Mar 2023 -4.7% | Jun 2023 -31% | Sep 2023 -31% | Dec 2023 -29% | Mar 2024 -2.0% | Jun 2024 21% | Sep 2024 20% | Dec 2024 16% | Mar 2025 24% | Jun 2025 34% | Sep 2025 28% | Dec 2025 22% | Mar 2026 24% | Jun 2026 — - KLAC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 29% | Sep 2022 31% | Dec 2022 27% | Mar 2023 6.3% | Jun 2023 -5.3% | Sep 2023 -12% | Dec 2023 -17% | Mar 2024 -3.0% | Jun 2024 9.1% | Sep 2024 19% | Dec 2024 24% | Mar 2025 30% | Jun 2025 24% | Sep 2025 13% | Dec 2025 7.2% | Mar 2026 11% | Jun 2026 — - TER: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -23% | Dec 2022 -13% | Mar 2023 — | Jun 2023 -18% | Sep 2023 -19% | Dec 2023 -15% | Mar 2024 — | Jun 2024 18% | Sep 2024 7.8% | Dec 2024 7.0% | Mar 2025 14% | Jun 2025 -11% | Sep 2025 4.3% | Dec 2025 44% | Mar 2026 87% | Jun 2026 — - Q: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 11% | Dec 2025 8.1% | Mar 2026 18% | Jun 2026 — - ENTG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 21% | Dec 2022 72% | Mar 2023 — | Jun 2023 42% | Sep 2023 30% | Dec 2023 -18% | Mar 2024 — | Jun 2024 -12% | Sep 2024 -10% | Dec 2024 4.7% | Mar 2025 0.3% | Jun 2025 -2.6% | Sep 2025 -0.1% | Dec 2025 -3.1% | Mar 2026 5.1% | Jun 2026 — - ONTO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 25% | Sep 2022 27% | Dec 2022 — | Mar 2023 — | Jun 2023 -17% | Sep 2023 -25% | Dec 2023 -14% | Mar 2024 — | Jun 2024 22% | Sep 2024 32% | Dec 2024 21% | Mar 2025 17% | Jun 2025 5.0% | Sep 2025 -13% | Dec 2025 — | Mar 2026 0.0% | Jun 2026 — - AMKR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 7.0% | Sep 2022 24% | Dec 2022 10% | Mar 2023 -7.8% | Jun 2023 -3.1% | Sep 2023 -13% | Dec 2023 -8.1% | Mar 2024 -7.2% | Jun 2024 0.2% | Sep 2024 2.2% | Dec 2024 -7.0% | Mar 2025 -3.2% | Jun 2025 3.4% | Sep 2025 6.7% | Dec 2025 16% | Mar 2026 27% | Jun 2026 — - NVMI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 45% | Sep 2022 27% | Dec 2022 24% | Mar 2023 -1.5% | Jun 2023 -13% | Sep 2023 -10% | Dec 2023 -11% | Mar 2024 7.6% | Jun 2024 28% | Sep 2024 39% | Dec 2024 46% | Mar 2025 50% | Jun 2025 40% | Sep 2025 26% | Dec 2025 14% | Mar 2026 10% | Jun 2026 — - FORM: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 8.5% | Sep 2022 -4.7% | Dec 2022 -19% | Mar 2023 — | Jun 2023 -18% | Sep 2023 -14% | Dec 2023 1.2% | Mar 2024 — | Jun 2024 18% | Sep 2024 33% | Dec 2024 13% | Mar 2025 1.2% | Jun 2025 -0.5% | Sep 2025 -2.4% | Dec 2025 14% | Mar 2026 32% | Jun 2026 — - CAMT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 19% | Sep 2022 15% | Dec 2022 11% | Mar 2023 -6.5% | Jun 2023 -7.5% | Sep 2023 -2.4% | Dec 2023 8.5% | Mar 2024 35% | Jun 2024 39% | Sep 2024 40% | Dec 2024 31% | Mar 2025 23% | Jun 2025 19% | Sep 2025 13% | Dec 2025 9.4% | Mar 2026 2.5% | Jun 2026 — - ACMR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 93% | Sep 2022 100% | Dec 2022 15% | Mar 2023 76% | Jun 2023 39% | Sep 2023 26% | Dec 2023 56% | Mar 2024 105% | Jun 2024 39% | Sep 2024 21% | Dec 2024 31% | Mar 2025 13% | Jun 2025 6.4% | Sep 2025 32% | Dec 2025 9.4% | Mar 2026 34% | Jun 2026 — - KLIC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -12% | Dec 2022 -41% | Mar 2023 — | Jun 2023 -55% | Sep 2023 -49% | Dec 2023 -40% | Mar 2024 — | Jun 2024 5.2% | Sep 2024 -5.2% | Dec 2024 -2.9% | Mar 2025 -5.8% | Jun 2025 -19% | Sep 2025 — | Dec 2025 7.2% | Mar 2026 23% | Jun 2026 64% - ACLS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 50% | Sep 2022 29% | Dec 2022 29% | Mar 2023 25% | Jun 2023 24% | Sep 2023 28% | Dec 2023 17% | Mar 2024 -0.8% | Jun 2024 -6.2% | Sep 2024 -12% | Dec 2024 -19% | Mar 2025 -23% | Jun 2025 -24% | Sep 2025 -17% | Dec 2025 -5.6% | Mar 2026 3.1% | Jun 2026 — - AXTI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 15% | Sep 2022 0.0% | Dec 2022 -29% | Mar 2023 -53% | Jun 2023 -51% | Sep 2023 -51% | Dec 2023 -26% | Mar 2024 21% | Jun 2024 47% | Sep 2024 41% | Dec 2024 25% | Mar 2025 -17% | Jun 2025 -36% | Sep 2025 17% | Dec 2025 -8.0% | Mar 2026 42% | Jun 2026 — - IPGP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 1.3% | Sep 2022 -7.9% | Dec 2022 -8.2% | Mar 2023 -6.2% | Jun 2023 -9.8% | Sep 2023 -14% | Dec 2023 -10% | Mar 2024 -27% | Jun 2024 -24% | Sep 2024 -23% | Dec 2024 -22% | Mar 2025 -9.5% | Jun 2025 -2.7% | Sep 2025 7.7% | Dec 2025 17% | Mar 2026 16% | Jun 2026 — - UCTT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 9.5% | Sep 2022 9.9% | Dec 2022 -8.0% | Mar 2023 — | Jun 2023 -25% | Sep 2023 -29% | Dec 2023 -21% | Mar 2024 10% | Jun 2024 22% | Sep 2024 24% | Dec 2024 27% | Mar 2025 8.6% | Jun 2025 0.6% | Sep 2025 -5.6% | Dec 2025 -10.0% | Mar 2026 2.9% | Jun 2026 — - AMBA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 2.5% | Dec 2022 -9.8% | Mar 2023 -7.8% | Jun 2023 -31% | Sep 2023 -23% | Dec 2023 -39% | Mar 2024 -37% | Jun 2024 -13% | Sep 2024 3.2% | Dec 2024 63% | Mar 2025 62% | Jun 2025 59% | Sep 2025 50% | Dec 2025 30% | Mar 2026 20% | Jun 2026 16% - AEHR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 150% | Sep 2022 83% | Dec 2022 50% | Mar 2023 13% | Jun 2023 10% | Sep 2023 91% | Dec 2023 40% | Mar 2024 -53% | Jun 2024 -23% | Sep 2024 -38% | Dec 2024 -38% | Mar 2025 125% | Jun 2025 -18% | Sep 2025 -15% | Dec 2025 -23% | Mar 2026 -44% | Jun 2026 — - VECO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 12% | Sep 2022 15% | Dec 2022 0.7% | Mar 2023 -1.3% | Jun 2023 -1.2% | Sep 2023 2.9% | Dec 2023 13% | Mar 2024 13% | Jun 2024 8.6% | Sep 2024 4.5% | Dec 2024 4.6% | Mar 2025 -4.0% | Jun 2025 -5.7% | Sep 2025 -10% | Dec 2025 -9.3% | Mar 2026 -5.4% | Jun 2026 — - ICHR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 3.9% | Sep 2022 25% | Dec 2022 5.2% | Mar 2023 — | Jun 2023 -37% | Sep 2023 -40% | Dec 2023 -33% | Mar 2024 -11% | Jun 2024 9.7% | Sep 2024 7.1% | Dec 2024 15% | Mar 2025 21% | Jun 2025 18% | Sep 2025 13% | Dec 2025 -3.9% | Mar 2026 4.9% | Jun 2026 — - COHU: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -11% | Sep 2022 -8.0% | Dec 2022 -0.5% | Mar 2023 — | Jun 2023 -18% | Sep 2023 -18% | Dec 2023 -28% | Mar 2024 — | Jun 2024 -41% | Sep 2024 -44% | Dec 2024 -31% | Mar 2025 -10% | Jun 2025 2.9% | Sep 2025 33% | Dec 2025 30% | Mar 2026 29% | Jun 2026 — - PLAB: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 29% | Dec 2022 16% | Mar 2023 11% | Jun 2023 12% | Sep 2023 1.8% | Dec 2023 8.1% | Mar 2024 2.4% | Jun 2024 -5.2% | Sep 2024 -5.8% | Dec 2024 -1.8% | Mar 2025 -1.9% | Jun 2025 -2.8% | Sep 2025 -0.5% | Dec 2025 -3.1% | Mar 2026 6.1% | Jun 2026 -0.5% - DQ: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 182% | Sep 2022 108% | Dec 2022 118% | Mar 2023 -45% | Jun 2023 -49% | Sep 2023 -60% | Dec 2023 -45% | Mar 2024 -42% | Jun 2024 -65% | Sep 2024 -59% | Dec 2024 -59% | Mar 2025 -70% | Jun 2025 -66% | Sep 2025 24% | Dec 2025 14% | Mar 2026 -78% | Jun 2026 — - ASYS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -13% | Sep 2022 33% | Dec 2022 -15% | Mar 2023 18% | Jun 2023 55% | Sep 2023 -13% | Dec 2023 14% | Mar 2024 -24% | Jun 2024 -13% | Sep 2024 -14% | Dec 2024 -4.0% | Mar 2025 -36% | Jun 2025 -26% | Sep 2025 -17% | Dec 2025 -21% | Mar 2026 25% | Jun 2026 — - ATOM: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 -100% | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — - INTT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 36% | Sep 2022 48% | Dec 2022 45% | Mar 2023 33% | Jun 2023 10% | Sep 2023 0.0% | Dec 2023 -13% | Mar 2024 -6.3% | Jun 2024 3.0% | Sep 2024 -3.2% | Dec 2024 32% | Mar 2025 -10% | Jun 2025 -18% | Sep 2025 -13% | Dec 2025 -11% | Mar 2026 26% | Jun 2026 — ## Operating Economics & Margin Trend What the numbers say: KLA Corporation leads opm at 41.2%; Atomera Incorporated leads margin change at +79084.1 percentage points. Investor read: KLA Corporation sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it. This conclusion weakens if: The next two comparable reports reverse the current margin change signal. Evidence: KLA Corporation · 41.2% | 11.1% versus #2 · ASML Holding N.V. | 7/8 recent comparable periods | 27/29 companies · 492 observations Definition: Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth. ### OPM — highest 1. KLA Corporation (KLAC): 41% 2. ASML Holding N.V. (ASML): 37% 3. Teradyne, Inc. (TER): 37% 4. Lam Research Corporation (LRCX): 35% 5. Applied Materials, Inc. (AMAT): 32% ### Margin change — fastest expanders 1. Atomera Incorporated (ATOM): +79,084.1 pp 2. Amtech Systems, Inc. (ASYS): +211.5 pp 3. AXT, Inc. (AXTI): +47.2 pp 4. Kulicke and Soffa Industries, Inc. (KLIC): +20.0 pp 5. Cohu, Inc. (COHU): +19.3 pp ### 20-quarter OPM history - ASML: Sep 2021 31% | Dec 2021 37% | Mar 2022 — | Jun 2022 22% | Sep 2022 30% | Dec 2022 34% | Mar 2023 — | Jun 2023 33% | Sep 2023 33% | Dec 2023 33% | Mar 2024 26% | Jun 2024 29% | Sep 2024 33% | Dec 2024 36% | Mar 2025 35% | Jun 2025 35% | Sep 2025 33% | Dec 2025 35% | Mar 2026 36% | Jun 2026 37% - AMAT: Sep 2021 33% | Dec 2021 33% | Mar 2022 32% | Jun 2022 30% | Sep 2022 30% | Dec 2022 30% | Mar 2023 29% | Jun 2023 29% | Sep 2023 28% | Dec 2023 29% | Mar 2024 29% | Jun 2024 29% | Sep 2024 29% | Dec 2024 29% | Mar 2025 30% | Jun 2025 31% | Sep 2025 31% | Dec 2025 25% | Mar 2026 26% | Jun 2026 32% - LRCX: Sep 2021 32% | Dec 2021 32% | Mar 2022 29% | Jun 2022 32% | Sep 2022 34% | Dec 2022 32% | Mar 2023 24% | Jun 2023 27% | Sep 2023 29% | Dec 2023 28% | Mar 2024 28% | Jun 2024 29% | Sep 2024 30% | Dec 2024 31% | Mar 2025 33% | Jun 2025 34% | Sep 2025 34% | Dec 2025 34% | Mar 2026 35% | Jun 2026 — - KLAC: Sep 2021 39% | Dec 2021 41% | Mar 2022 39% | Jun 2022 39% | Sep 2022 41% | Dec 2022 40% | Mar 2023 35% | Jun 2023 35% | Sep 2023 38% | Dec 2023 30% | Mar 2024 31% | Jun 2024 38% | Sep 2024 39% | Dec 2024 33% | Mar 2025 43% | Jun 2025 43% | Sep 2025 42% | Dec 2025 41% | Mar 2026 41% | Jun 2026 — - TER: Sep 2021 36% | Dec 2021 34% | Mar 2022 — | Jun 2022 25% | Sep 2022 30% | Dec 2022 28% | Mar 2023 — | Jun 2023 15% | Sep 2023 20% | Dec 2023 21% | Mar 2024 13% | Jun 2024 29% | Sep 2024 21% | Dec 2024 20% | Mar 2025 18% | Jun 2025 14% | Sep 2025 19% | Dec 2025 27% | Mar 2026 37% | Jun 2026 — - Q: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 21% | Dec 2024 21% | Mar 2025 21% | Jun 2025 21% | Sep 2025 21% | Dec 2025 20% | Mar 2026 21% | Jun 2026 — - ENTG: Sep 2021 24% | Dec 2021 24% | Mar 2022 — | Jun 2022 25% | Sep 2022 23% | Dec 2022 1.5% | Mar 2023 — | Jun 2023 1.5% | Sep 2023 -4.6% | Dec 2023 5.0% | Mar 2024 15% | Jun 2024 16% | Sep 2024 17% | Dec 2024 18% | Mar 2025 16% | Jun 2025 13% | Sep 2025 15% | Dec 2025 13% | Mar 2026 17% | Jun 2026 — - ONTO: Sep 2021 22% | Dec 2021 — | Mar 2022 22% | Jun 2022 24% | Sep 2022 22% | Dec 2022 23% | Mar 2023 — | Jun 2023 15% | Sep 2023 13% | Dec 2023 13% | Mar 2024 19% | Jun 2024 20% | Sep 2024 21% | Dec 2024 16% | Mar 2025 24% | Jun 2025 13% | Sep 2025 11% | Dec 2025 — | Mar 2026 5.2% | Jun 2026 — - AMKR: Sep 2021 13% | Dec 2021 15% | Mar 2022 13% | Jun 2022 9.5% | Sep 2022 15% | Dec 2022 12% | Mar 2023 4.7% | Jun 2023 5.2% | Sep 2023 9.1% | Dec 2023 9.1% | Mar 2024 5.4% | Jun 2024 5.6% | Sep 2024 8.0% | Dec 2024 8.3% | Mar 2025 2.4% | Jun 2025 6.1% | Sep 2025 8.0% | Dec 2025 9.8% | Mar 2026 6.0% | Jun 2026 — - NVMI: Sep 2021 32% | Dec 2021 25% | Mar 2022 28% | Jun 2022 26% | Sep 2022 27% | Dec 2022 24% | Mar 2023 27% | Jun 2023 23% | Sep 2023 27% | Dec 2023 25% | Mar 2024 26% | Jun 2024 29% | Sep 2024 28% | Dec 2024 29% | Mar 2025 30% | Jun 2025 30% | Sep 2025 28% | Dec 2025 27% | Mar 2026 30% | Jun 2026 — - FORM: Sep 2021 12% | Dec 2021 16% | Mar 2022 17% | Jun 2022 16% | Sep 2022 2.2% | Dec 2022 -9.6% | Mar 2023 — | Jun 2023 0.1% | Sep 2023 -0.8% | Dec 2023 48% | Mar 2024 13% | Jun 2024 9.0% | Sep 2024 8.6% | Dec 2024 4.1% | Mar 2025 1.9% | Jun 2025 6.3% | Sep 2025 8.9% | Dec 2025 11% | Mar 2026 7.4% | Jun 2026 — - CAMT: Sep 2021 29% | Dec 2021 26% | Mar 2022 25% | Jun 2022 26% | Sep 2022 25% | Dec 2022 25% | Mar 2023 20% | Jun 2023 20% | Sep 2023 24% | Dec 2023 19% | Mar 2024 22% | Jun 2024 25% | Sep 2024 26% | Dec 2024 27% | Mar 2025 28% | Jun 2025 26% | Sep 2025 25% | Dec 2025 25% | Mar 2026 22% | Jun 2026 — - ACMR: Sep 2021 18% | Dec 2021 20% | Mar 2022 -22% | Jun 2022 19% | Sep 2022 24% | Dec 2022 15% | Mar 2023 12% | Jun 2023 21% | Sep 2023 20% | Dec 2023 14% | Mar 2024 17% | Jun 2024 19% | Sep 2024 22% | Dec 2024 20% | Mar 2025 15% | Jun 2025 15% | Sep 2025 11% | Dec 2025 9.4% | Mar 2026 16% | Jun 2026 — - KLIC: Sep 2021 28% | Dec 2021 32% | Mar 2022 33% | Jun 2022 34% | Sep 2022 33% | Dec 2022 24% | Mar 2023 — | Jun 2023 7.3% | Sep 2023 -2.4% | Dec 2023 1.0% | Mar 2024 -61% | Jun 2024 4.6% | Sep 2024 1.5% | Dec 2024 52% | Mar 2025 -52% | Jun 2025 -4.1% | Sep 2025 — | Dec 2025 0.5% | Mar 2026 8.9% | Jun 2026 16% - ACLS: Sep 2021 21% | Dec 2021 23% | Mar 2022 24% | Jun 2022 25% | Sep 2022 23% | Dec 2022 21% | Mar 2023 20% | Jun 2023 23% | Sep 2023 25% | Dec 2023 26% | Mar 2024 22% | Jun 2024 21% | Sep 2024 18% | Dec 2024 22% | Mar 2025 15% | Jun 2025 15% | Sep 2025 12% | Dec 2025 15% | Mar 2026 4.0% | Jun 2026 — - AXTI: Sep 2021 6.9% | Dec 2021 8.0% | Mar 2022 9.3% | Jun 2022 13% | Sep 2022 13% | Dec 2022 -3.7% | Mar 2023 -23% | Jun 2023 -37% | Sep 2023 -39% | Dec 2023 -17% | Mar 2024 -15% | Jun 2024 -6.8% | Sep 2024 -14% | Dec 2024 -25% | Mar 2025 -53% | Jun 2025 -38% | Sep 2025 -4.0% | Dec 2025 -17% | Mar 2026 -5.9% | Jun 2026 — - IPGP: Sep 2021 27% | Dec 2021 23% | Mar 2022 25% | Jun 2022 19% | Sep 2022 27% | Dec 2022 -33% | Mar 2023 22% | Jun 2023 21% | Sep 2023 19% | Dec 2023 11% | Mar 2024 7.6% | Jun 2024 4.7% | Sep 2024 -109% | Dec 2024 6.0% | Mar 2025 0.8% | Jun 2025 0.0% | Sep 2025 3.1% | Dec 2025 1.2% | Mar 2026 -2.9% | Jun 2026 — - UCTT: Sep 2021 9.1% | Dec 2021 10% | Mar 2022 — | Jun 2022 8.1% | Sep 2022 -0.9% | Dec 2022 7.7% | Mar 2023 2.9% | Jun 2023 3.0% | Sep 2023 1.3% | Dec 2023 1.0% | Mar 2024 3.6% | Jun 2024 4.4% | Sep 2024 4.7% | Dec 2024 4.6% | Mar 2025 2.5% | Jun 2025 -27% | Sep 2025 2.1% | Dec 2025 2.2% | Mar 2026 2.1% | Jun 2026 — - AMBA: Sep 2021 -7.5% | Dec 2021 -1.3% | Mar 2022 -14% | Jun 2022 -12% | Sep 2022 -25% | Dec 2022 -24% | Mar 2023 -28% | Jun 2023 -57% | Sep 2023 -57% | Dec 2023 -83% | Mar 2024 -81% | Jun 2024 -72% | Sep 2024 -57% | Dec 2024 -31% | Mar 2025 -30% | Jun 2025 -30% | Sep 2025 -23% | Dec 2025 -15% | Mar 2026 -18% | Jun 2026 -19% - AEHR: Sep 2021 -18% | Dec 2021 7.5% | Mar 2022 15% | Jun 2022 29% | Sep 2022 4.3% | Dec 2022 24% | Mar 2023 22% | Jun 2023 25% | Sep 2023 20% | Dec 2023 26% | Mar 2024 -27% | Jun 2024 15% | Sep 2024 1.2% | Dec 2024 -11% | Mar 2025 -6.1% | Jun 2025 -23% | Sep 2025 -37% | Dec 2025 -47% | Mar 2026 -41% | Jun 2026 — - VECO: Sep 2021 11% | Dec 2021 12% | Mar 2022 11% | Jun 2022 7.8% | Sep 2022 10% | Dec 2022 8.7% | Mar 2023 6.4% | Jun 2023 8.5% | Sep 2023 13% | Dec 2023 14% | Mar 2024 13% | Jun 2024 9.5% | Sep 2024 13% | Dec 2024 18% | Mar 2025 8.5% | Jun 2025 7.4% | Sep 2025 6.4% | Dec 2025 4.6% | Mar 2026 -1.7% | Jun 2026 — - ICHR: Sep 2021 8.1% | Dec 2021 5.7% | Mar 2022 — | Jun 2022 3.6% | Sep 2022 7.5% | Dec 2022 6.0% | Mar 2023 2.1% | Jun 2023 -1.6% | Sep 2023 -2.5% | Dec 2023 -3.9% | Mar 2024 -1.9% | Jun 2024 -1.1% | Sep 2024 -0.2% | Dec 2024 -0.5% | Mar 2025 -0.5% | Jun 2025 -2.0% | Sep 2025 -8.1% | Dec 2025 -6.2% | Mar 2026 0.8% | Jun 2026 — - COHU: Sep 2021 15% | Dec 2021 14% | Mar 2022 14% | Jun 2022 17% | Sep 2022 16% | Dec 2022 14% | Mar 2023 — | Jun 2023 11% | Sep 2023 9.3% | Dec 2023 0.2% | Mar 2024 -17% | Jun 2024 -16% | Sep 2024 -17% | Dec 2024 -23% | Mar 2025 -28% | Jun 2025 -16% | Sep 2025 -7.7% | Dec 2025 -13% | Mar 2026 -8.9% | Jun 2026 — - PLAB: Sep 2021 17% | Dec 2021 19% | Mar 2022 20% | Jun 2022 24% | Sep 2022 29% | Dec 2022 29% | Mar 2023 27% | Jun 2023 29% | Sep 2023 29% | Dec 2023 29% | Mar 2024 27% | Jun 2024 26% | Sep 2024 25% | Dec 2024 25% | Mar 2025 25% | Jun 2025 26% | Sep 2025 23% | Dec 2025 24% | Mar 2026 24% | Jun 2026 20% - DQ: Sep 2021 72% | Dec 2021 58% | Mar 2022 62% | Jun 2022 75% | Sep 2022 57% | Dec 2022 72% | Mar 2023 65% | Jun 2023 34% | Sep 2023 4.6% | Dec 2023 18% | Mar 2024 7.3% | Jun 2024 -89% | Sep 2024 -49% | Dec 2024 -154% | Mar 2025 -92% | Jun 2025 -153% | Sep 2025 -8.3% | Dec 2025 -9.4% | Mar 2026 -564% | Jun 2026 — - ASYS: Sep 2021 5.3% | Dec 2021 4.7% | Mar 2022 9.4% | Jun 2022 48% | Sep 2022 12% | Dec 2022 -12% | Mar 2023 1.6% | Jun 2023 -3.6% | Sep 2023 -42% | Dec 2023 -36% | Mar 2024 5.4% | Jun 2024 3.1% | Sep 2024 0.1% | Dec 2024 1.4% | Mar 2025 -203% | Jun 2025 4.7% | Sep 2025 9.3% | Dec 2025 4.1% | Mar 2026 8.8% | Jun 2026 — - ATOM: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 -872% | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — - INTT: Sep 2021 12% | Dec 2021 1.3% | Mar 2022 3.3% | Jun 2022 9.2% | Sep 2022 10% | Dec 2022 12% | Mar 2023 11% | Jun 2023 10% | Sep 2023 8.0% | Dec 2023 4.0% | Mar 2024 1.6% | Jun 2024 1.0% | Sep 2024 1.6% | Dec 2024 5.7% | Mar 2025 -11% | Jun 2025 -3.3% | Sep 2025 -4.5% | Dec 2025 3.9% | Mar 2026 2.8% | Jun 2026 — ### 20-quarter Margin change history - ASML: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.4 pp | Dec 2022 −3.1 pp | Mar 2023 — | Jun 2023 +10.5 pp | Sep 2023 +2.4 pp | Dec 2023 −0.8 pp | Mar 2024 — | Jun 2024 −3.3 pp | Sep 2024 −0.1 pp | Dec 2024 +3.5 pp | Mar 2025 +9.1 pp | Jun 2025 +5.2 pp | Sep 2025 +0.1 pp | Dec 2025 −0.9 pp | Mar 2026 +0.6 pp | Jun 2026 +2.5 pp - AMAT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −3.0 pp | Dec 2022 −3.4 pp | Mar 2023 −2.3 pp | Jun 2023 −1.5 pp | Sep 2023 −1.5 pp | Dec 2023 −0.2 pp | Mar 2024 +0.1 pp | Jun 2024 0.0 pp | Sep 2024 +0.7 pp | Dec 2024 −0.3 pp | Mar 2025 +1.1 pp | Jun 2025 +1.7 pp | Sep 2025 +1.9 pp | Dec 2025 −3.8 pp | Mar 2026 −4.3 pp | Jun 2026 +1.4 pp - LRCX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +0.2 pp | Sep 2022 +1.6 pp | Dec 2022 +0.1 pp | Mar 2023 −5.0 pp | Jun 2023 −5.3 pp | Sep 2023 −4.1 pp | Dec 2023 −3.7 pp | Mar 2024 +3.5 pp | Jun 2024 +2.5 pp | Sep 2024 +0.9 pp | Dec 2024 +2.4 pp | Mar 2025 +5.2 pp | Jun 2025 +4.6 pp | Sep 2025 +4.1 pp | Dec 2025 +3.4 pp | Mar 2026 +1.9 pp | Jun 2026 — - KLAC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +1.8 pp | Sep 2022 +1.5 pp | Dec 2022 −0.9 pp | Mar 2023 −3.7 pp | Jun 2023 −4.2 pp | Sep 2023 −3.3 pp | Dec 2023 −10.7 pp | Mar 2024 −4.2 pp | Jun 2024 +3.0 pp | Sep 2024 +1.9 pp | Dec 2024 +3.1 pp | Mar 2025 +11.3 pp | Jun 2025 +4.6 pp | Sep 2025 +2.3 pp | Dec 2025 +8.7 pp | Mar 2026 −1.3 pp | Jun 2026 — - TER: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −6.3 pp | Dec 2022 −5.9 pp | Mar 2023 — | Jun 2023 −9.6 pp | Sep 2023 −9.1 pp | Dec 2023 −7.5 pp | Mar 2024 — | Jun 2024 +13.8 pp | Sep 2024 +0.2 pp | Dec 2024 −0.1 pp | Mar 2025 +4.6 pp | Jun 2025 −14.9 pp | Sep 2025 −1.7 pp | Dec 2025 +6.7 pp | Mar 2026 +19.3 pp | Jun 2026 — - Q: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 +0.3 pp | Dec 2025 −0.9 pp | Mar 2026 −0.4 pp | Jun 2026 — - ENTG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −1.5 pp | Dec 2022 −22.5 pp | Mar 2023 — | Jun 2023 −23.6 pp | Sep 2023 −27.4 pp | Dec 2023 +3.5 pp | Mar 2024 — | Jun 2024 +14.5 pp | Sep 2024 +21.5 pp | Dec 2024 +12.7 pp | Mar 2025 +0.5 pp | Jun 2025 −2.6 pp | Sep 2025 −1.7 pp | Dec 2025 −5.0 pp | Mar 2026 +1.6 pp | Jun 2026 — - ONTO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +5.7 pp | Sep 2022 +0.9 pp | Dec 2022 — | Mar 2023 — | Jun 2023 −9.7 pp | Sep 2023 −9.4 pp | Dec 2023 −10.4 pp | Mar 2024 — | Jun 2024 +5.6 pp | Sep 2024 +8.0 pp | Dec 2024 +3.2 pp | Mar 2025 +5.0 pp | Jun 2025 −7.5 pp | Sep 2025 −10.1 pp | Dec 2025 — | Mar 2026 −18.5 pp | Jun 2026 — - AMKR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 −1.5 pp | Sep 2022 +2.7 pp | Dec 2022 −2.8 pp | Mar 2023 −8.5 pp | Jun 2023 −4.3 pp | Sep 2023 −6.2 pp | Dec 2023 −2.7 pp | Mar 2024 +0.7 pp | Jun 2024 +0.4 pp | Sep 2024 −1.1 pp | Dec 2024 −0.8 pp | Mar 2025 −3.0 pp | Jun 2025 +0.5 pp | Sep 2025 0.0 pp | Dec 2025 +1.5 pp | Mar 2026 +3.6 pp | Jun 2026 — - NVMI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 −1.7 pp | Sep 2022 −4.4 pp | Dec 2022 −0.2 pp | Mar 2023 −0.7 pp | Jun 2023 −2.7 pp | Sep 2023 −0.6 pp | Dec 2023 +0.7 pp | Mar 2024 −0.8 pp | Jun 2024 +5.7 pp | Sep 2024 +1.0 pp | Dec 2024 +3.4 pp | Mar 2025 +3.4 pp | Jun 2025 +0.7 pp | Sep 2025 +0.9 pp | Dec 2025 −1.2 pp | Mar 2026 +0.5 pp | Jun 2026 — - FORM: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +5.2 pp | Sep 2022 −10.0 pp | Dec 2022 −25.1 pp | Mar 2023 — | Jun 2023 −15.9 pp | Sep 2023 −3.0 pp | Dec 2023 +57.9 pp | Mar 2024 — | Jun 2024 +8.9 pp | Sep 2024 +9.4 pp | Dec 2024 −44.2 pp | Mar 2025 −10.7 pp | Jun 2025 −2.7 pp | Sep 2025 +0.3 pp | Dec 2025 +6.8 pp | Mar 2026 +5.5 pp | Jun 2026 — - CAMT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +0.9 pp | Sep 2022 −3.3 pp | Dec 2022 −1.1 pp | Mar 2023 −5.7 pp | Jun 2023 −6.0 pp | Sep 2023 −1.5 pp | Dec 2023 −5.5 pp | Mar 2024 +2.3 pp | Jun 2024 +5.0 pp | Sep 2024 +2.7 pp | Dec 2024 +7.3 pp | Mar 2025 +5.7 pp | Jun 2025 +0.7 pp | Sep 2025 −1.1 pp | Dec 2025 −2.0 pp | Mar 2026 −5.2 pp | Jun 2026 — - ACMR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +11.2 pp | Sep 2022 +6.1 pp | Dec 2022 −4.7 pp | Mar 2023 +34.0 pp | Jun 2023 +1.8 pp | Sep 2023 −4.0 pp | Dec 2023 −1.7 pp | Mar 2024 +4.7 pp | Jun 2024 −2.4 pp | Sep 2024 +2.0 pp | Dec 2024 +6.0 pp | Mar 2025 −1.6 pp | Jun 2025 −3.9 pp | Sep 2025 −11.0 pp | Dec 2025 −10.3 pp | Mar 2026 +0.6 pp | Jun 2026 — - KLIC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +4.4 pp | Dec 2022 −8.3 pp | Mar 2023 — | Jun 2023 −26.4 pp | Sep 2023 −35.2 pp | Dec 2023 −22.6 pp | Mar 2024 — | Jun 2024 −2.7 pp | Sep 2024 +3.9 pp | Dec 2024 +51.2 pp | Mar 2025 +8.8 pp | Jun 2025 −8.7 pp | Sep 2025 — | Dec 2025 −51.7 pp | Mar 2026 +61.2 pp | Jun 2026 +20.0 pp - ACLS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +8.2 pp | Sep 2022 +2.6 pp | Dec 2022 −1.5 pp | Mar 2023 −3.8 pp | Jun 2023 −1.2 pp | Sep 2023 +1.3 pp | Dec 2023 +4.4 pp | Mar 2024 +2.2 pp | Jun 2024 −2.7 pp | Sep 2024 −6.2 pp | Dec 2024 −3.9 pp | Mar 2025 −7.3 pp | Jun 2025 −5.7 pp | Sep 2025 −6.6 pp | Dec 2025 −6.4 pp | Mar 2026 −11.1 pp | Jun 2026 — - AXTI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +1.8 pp | Sep 2022 +6.1 pp | Dec 2022 −11.7 pp | Mar 2023 −32.2 pp | Jun 2023 −50.2 pp | Sep 2023 −51.7 pp | Dec 2023 −13.7 pp | Mar 2024 +8.1 pp | Jun 2024 +30.0 pp | Sep 2024 +24.3 pp | Dec 2024 −7.2 pp | Mar 2025 −38.3 pp | Jun 2025 −30.7 pp | Sep 2025 +10.4 pp | Dec 2025 +8.0 pp | Mar 2026 +47.2 pp | Jun 2026 — - IPGP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 −5.8 pp | Sep 2022 −0.2 pp | Dec 2022 −55.9 pp | Mar 2023 −3.5 pp | Jun 2023 +2.2 pp | Sep 2023 −8.2 pp | Dec 2023 +43.1 pp | Mar 2024 −14.1 pp | Jun 2024 −16.5 pp | Sep 2024 −127.2 pp | Dec 2024 −4.5 pp | Mar 2025 −6.8 pp | Jun 2025 −4.7 pp | Sep 2025 +111.8 pp | Dec 2025 −4.8 pp | Mar 2026 −3.7 pp | Jun 2026 — - UCTT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +1.9 pp | Sep 2022 −10.0 pp | Dec 2022 −2.5 pp | Mar 2023 — | Jun 2023 −5.1 pp | Sep 2023 +2.2 pp | Dec 2023 −6.7 pp | Mar 2024 +0.7 pp | Jun 2024 +1.4 pp | Sep 2024 +3.4 pp | Dec 2024 +3.6 pp | Mar 2025 −1.1 pp | Jun 2025 −31.7 pp | Sep 2025 −2.6 pp | Dec 2025 −2.4 pp | Mar 2026 −0.4 pp | Jun 2026 — - AMBA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −17.5 pp | Dec 2022 −22.9 pp | Mar 2023 −14.4 pp | Jun 2023 −45.6 pp | Sep 2023 −31.9 pp | Dec 2023 −58.7 pp | Mar 2024 −52.7 pp | Jun 2024 −15.2 pp | Sep 2024 0.0 pp | Dec 2024 +52.0 pp | Mar 2025 +50.6 pp | Jun 2025 +42.3 pp | Sep 2025 +33.9 pp | Dec 2025 +15.9 pp | Mar 2026 +11.9 pp | Jun 2026 +10.8 pp - AEHR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +20.8 pp | Sep 2022 +21.9 pp | Dec 2022 +16.0 pp | Mar 2023 +7.2 pp | Jun 2023 −3.4 pp | Sep 2023 +15.7 pp | Dec 2023 +2.0 pp | Mar 2024 −49.1 pp | Jun 2024 −10.0 pp | Sep 2024 −18.8 pp | Dec 2024 −36.7 pp | Mar 2025 +21.0 pp | Jun 2025 −38.0 pp | Sep 2025 −38.3 pp | Dec 2025 −35.8 pp | Mar 2026 −34.9 pp | Jun 2026 — - VECO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 −1.3 pp | Sep 2022 −0.7 pp | Dec 2022 −2.8 pp | Mar 2023 −4.2 pp | Jun 2023 +0.7 pp | Sep 2023 +2.4 pp | Dec 2023 +5.2 pp | Mar 2024 +6.2 pp | Jun 2024 +1.0 pp | Sep 2024 +0.6 pp | Dec 2024 +3.7 pp | Mar 2025 −4.1 pp | Jun 2025 −2.1 pp | Sep 2025 −6.8 pp | Dec 2025 −13.0 pp | Mar 2026 −10.2 pp | Jun 2026 — - ICHR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 −5.3 pp | Sep 2022 −0.6 pp | Dec 2022 +0.3 pp | Mar 2023 — | Jun 2023 −5.2 pp | Sep 2023 −10.0 pp | Dec 2023 −9.9 pp | Mar 2024 −4.0 pp | Jun 2024 +0.5 pp | Sep 2024 +2.3 pp | Dec 2024 +3.4 pp | Mar 2025 +1.4 pp | Jun 2025 −0.9 pp | Sep 2025 −7.9 pp | Dec 2025 −5.7 pp | Mar 2026 +1.3 pp | Jun 2026 — - COHU: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +32.1 pp | Sep 2022 +1.4 pp | Dec 2022 −0.1 pp | Mar 2023 — | Jun 2023 −5.9 pp | Sep 2023 −7.0 pp | Dec 2023 −14.1 pp | Mar 2024 — | Jun 2024 −26.7 pp | Sep 2024 −25.8 pp | Dec 2024 −23.2 pp | Mar 2025 −11.5 pp | Jun 2025 −0.4 pp | Sep 2025 +8.8 pp | Dec 2025 +10.3 pp | Mar 2026 +19.3 pp | Jun 2026 — - PLAB: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +12.3 pp | Dec 2022 +10.3 pp | Mar 2023 +6.4 pp | Jun 2023 +5.0 pp | Sep 2023 +0.1 pp | Dec 2023 −0.3 pp | Mar 2024 +0.1 pp | Jun 2024 −3.4 pp | Sep 2024 −4.4 pp | Dec 2024 −3.4 pp | Mar 2025 −2.0 pp | Jun 2025 +0.6 pp | Sep 2025 −1.8 pp | Dec 2025 −1.0 pp | Mar 2026 −0.2 pp | Jun 2026 −6.3 pp - DQ: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +8.3 pp | Sep 2022 −15.2 pp | Dec 2022 +14.4 pp | Mar 2023 +3.1 pp | Jun 2023 −41.0 pp | Sep 2023 −52.2 pp | Dec 2023 −54.6 pp | Mar 2024 −58.0 pp | Jun 2024 −122.6 pp | Sep 2024 −54.0 pp | Dec 2024 −171.5 pp | Mar 2025 −99.3 pp | Jun 2025 −63.9 pp | Sep 2025 +41.1 pp | Dec 2025 +144.6 pp | Mar 2026 −472.4 pp | Jun 2026 — - ASYS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +42.7 pp | Sep 2022 +6.7 pp | Dec 2022 −17.1 pp | Mar 2023 −7.8 pp | Jun 2023 −51.5 pp | Sep 2023 −54.2 pp | Dec 2023 −23.5 pp | Mar 2024 +3.8 pp | Jun 2024 +6.7 pp | Sep 2024 +42.3 pp | Dec 2024 +37.3 pp | Mar 2025 −208.1 pp | Jun 2025 +1.6 pp | Sep 2025 +9.2 pp | Dec 2025 +2.7 pp | Mar 2026 +211.5 pp | Jun 2026 — - ATOM: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 +87,247.8 pp | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 −20,310.4 pp | Mar 2025 −1,08,608.3 pp | Jun 2025 — | Sep 2025 −30,845.4 pp | Dec 2025 +11,958.6 pp | Mar 2026 +79,084.1 pp | Jun 2026 — - INTT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 −4.7 pp | Sep 2022 −1.8 pp | Dec 2022 +11.1 pp | Mar 2023 +7.7 pp | Jun 2023 +1.1 pp | Sep 2023 −2.3 pp | Dec 2023 −8.4 pp | Mar 2024 −9.4 pp | Jun 2024 −9.3 pp | Sep 2024 −6.4 pp | Dec 2024 +1.7 pp | Mar 2025 −12.4 pp | Jun 2025 −4.3 pp | Sep 2025 −6.1 pp | Dec 2025 −1.8 pp | Mar 2026 +13.6 pp | Jun 2026 — ## Profit Scale & Acceleration What the numbers say: ASML Holding N.V. leads with $10,399 million of TTM profit, 22.2% above Applied Materials, Inc.. Applied Materials, Inc. shows 25.9% growth from a $8,508 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale. Investor read: ASML Holding N.V. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it. This conclusion weakens if: The next two comparable reports reverse the current profit growth signal. Evidence: ASML Holding N.V. · $10,399 million | 22.2% versus #2 · Applied Materials, Inc. | 8/8 recent comparable periods | 18/29 companies · 510 observations Definition: Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank. ### Net profit — largest 1. ASML Holding N.V. (ASML): ₹10.4K Cr 2. Applied Materials, Inc. (AMAT): ₹8.5K Cr 3. Qnity Electronics, Inc. (Q): ₹692 Cr 4. Entegris, Inc. (ENTG): ₹265 Cr 5. Nova Ltd. (NVMI): ₹263 Cr ### Profit growth — fastest growers 1. Applied Materials, Inc. (AMAT): 26% 2. Nova Ltd. (NVMI): 25% 3. Photronics, Inc. (PLAB): 24% 4. ASML Holding N.V. (ASML): 14% 5. ACM Research, Inc. (ACMR): -9.0% ### 20-quarter Net profit history - ASML: Sep 2021 ₹1.0K Cr | Dec 2021 ₹1.6K Cr | Mar 2022 — | Jun 2022 ₹655 Cr | Sep 2022 ₹1.4K Cr | Dec 2022 ₹1.7K Cr | Mar 2023 — | Jun 2023 ₹1.9K Cr | Sep 2023 ₹1.9K Cr | Dec 2023 ₹1.8K Cr | Mar 2024 ₹1.2K Cr | Jun 2024 ₹1.5K Cr | Sep 2024 ₹2.0K Cr | Dec 2024 ₹2.6K Cr | Mar 2025 ₹2.3K Cr | Jun 2025 ₹2.2K Cr | Sep 2025 ₹2.0K Cr | Dec 2025 ₹2.8K Cr | Mar 2026 ₹2.7K Cr | Jun 2026 ₹2.9K Cr - AMAT: Sep 2021 ₹1.7K Cr | Dec 2021 ₹1.7K Cr | Mar 2022 ₹1.8K Cr | Jun 2022 ₹1.5K Cr | Sep 2022 ₹1.6K Cr | Dec 2022 ₹1.6K Cr | Mar 2023 ₹1.7K Cr | Jun 2023 ₹1.6K Cr | Sep 2023 ₹1.6K Cr | Dec 2023 ₹2.0K Cr | Mar 2024 ₹2.0K Cr | Jun 2024 ₹1.7K Cr | Sep 2024 ₹1.7K Cr | Dec 2024 ₹1.7K Cr | Mar 2025 ₹1.2K Cr | Jun 2025 ₹2.1K Cr | Sep 2025 ₹1.8K Cr | Dec 2025 ₹1.9K Cr | Mar 2026 ₹2.0K Cr | Jun 2026 ₹2.8K Cr - LRCX: Sep 2021 ₹1.2K Cr | Dec 2021 ₹1.2K Cr | Mar 2022 ₹1.0K Cr | Jun 2022 ₹1.2K Cr | Sep 2022 ₹1.4K Cr | Dec 2022 ₹1.5K Cr | Mar 2023 ₹814 Cr | Jun 2023 ₹803 Cr | Sep 2023 ₹887 Cr | Dec 2023 ₹954 Cr | Mar 2024 ₹966 Cr | Jun 2024 ₹1.0K Cr | Sep 2024 ₹1.1K Cr | Dec 2024 ₹1.2K Cr | Mar 2025 ₹1.3K Cr | Jun 2025 ₹1.7K Cr | Sep 2025 ₹1.6K Cr | Dec 2025 ₹1.6K Cr | Mar 2026 ₹1.8K Cr | Jun 2026 — - KLAC: Sep 2021 ₹1.1K Cr | Dec 2021 ₹718 Cr | Mar 2022 ₹731 Cr | Jun 2022 ₹805 Cr | Sep 2022 ₹1.0K Cr | Dec 2022 ₹979 Cr | Mar 2023 ₹698 Cr | Jun 2023 ₹685 Cr | Sep 2023 ₹741 Cr | Dec 2023 ₹583 Cr | Mar 2024 ₹602 Cr | Jun 2024 ₹836 Cr | Sep 2024 ₹946 Cr | Dec 2024 ₹825 Cr | Mar 2025 ₹1.1K Cr | Jun 2025 ₹1.2K Cr | Sep 2025 ₹1.1K Cr | Dec 2025 ₹1.1K Cr | Mar 2026 ₹1.2K Cr | Jun 2026 — - TER: Sep 2021 ₹328 Cr | Dec 2021 ₹257 Cr | Mar 2022 — | Jun 2022 ₹162 Cr | Sep 2022 ₹198 Cr | Dec 2022 ₹183 Cr | Mar 2023 — | Jun 2023 ₹84 Cr | Sep 2023 ₹120 Cr | Dec 2023 ₹128 Cr | Mar 2024 ₹64 Cr | Jun 2024 ₹186 Cr | Sep 2024 ₹147 Cr | Dec 2024 ₹152 Cr | Mar 2025 ₹104 Cr | Jun 2025 ₹84 Cr | Sep 2025 ₹125 Cr | Dec 2025 ₹260 Cr | Mar 2026 ₹404 Cr | Jun 2026 — - Q: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 ₹207 Cr | Dec 2024 ₹221 Cr | Mar 2025 ₹199 Cr | Jun 2025 ₹198 Cr | Sep 2025 ₹223 Cr | Dec 2025 ₹109 Cr | Mar 2026 ₹162 Cr | Jun 2026 — - ENTG: Sep 2021 ₹89 Cr | Dec 2021 ₹-117 Cr | Mar 2022 — | Jun 2022 ₹-126 Cr | Sep 2022 ₹99 Cr | Dec 2022 ₹-74 Cr | Mar 2023 — | Jun 2023 ₹-88 Cr | Sep 2023 ₹198 Cr | Dec 2023 ₹38 Cr | Mar 2024 ₹45 Cr | Jun 2024 ₹68 Cr | Sep 2024 ₹78 Cr | Dec 2024 ₹102 Cr | Mar 2025 ₹63 Cr | Jun 2025 ₹53 Cr | Sep 2025 ₹71 Cr | Dec 2025 ₹49 Cr | Mar 2026 ₹92 Cr | Jun 2026 — - ONTO: Sep 2021 ₹36 Cr | Dec 2021 — | Mar 2022 ₹47 Cr | Jun 2022 ₹53 Cr | Sep 2022 ₹52 Cr | Dec 2022 ₹52 Cr | Mar 2023 — | Jun 2023 ₹29 Cr | Sep 2023 ₹26 Cr | Dec 2023 ₹30 Cr | Mar 2024 ₹47 Cr | Jun 2024 ₹53 Cr | Sep 2024 ₹53 Cr | Dec 2024 ₹49 Cr | Mar 2025 ₹64 Cr | Jun 2025 ₹34 Cr | Sep 2025 ₹28 Cr | Dec 2025 — | Mar 2026 ₹11 Cr | Jun 2026 — - AMKR: Sep 2021 ₹182 Cr | Dec 2021 ₹217 Cr | Mar 2022 ₹171 Cr | Jun 2022 ₹125 Cr | Sep 2022 ₹306 Cr | Dec 2022 ₹164 Cr | Mar 2023 ₹45 Cr | Jun 2023 ₹64 Cr | Sep 2023 ₹133 Cr | Dec 2023 ₹119 Cr | Mar 2024 ₹60 Cr | Jun 2024 ₹67 Cr | Sep 2024 ₹123 Cr | Dec 2024 ₹106 Cr | Mar 2025 ₹22 Cr | Jun 2025 ₹55 Cr | Sep 2025 ₹127 Cr | Dec 2025 ₹173 Cr | Mar 2026 ₹84 Cr | Jun 2026 — - NVMI: Sep 2021 ₹30 Cr | Dec 2021 ₹22 Cr | Mar 2022 ₹34 Cr | Jun 2022 ₹35 Cr | Sep 2022 ₹35 Cr | Dec 2022 ₹36 Cr | Mar 2023 ₹35 Cr | Jun 2023 ₹30 Cr | Sep 2023 ₹34 Cr | Dec 2023 ₹38 Cr | Mar 2024 ₹37 Cr | Jun 2024 ₹45 Cr | Sep 2024 ₹51 Cr | Dec 2024 ₹50 Cr | Mar 2025 ₹65 Cr | Jun 2025 ₹68 Cr | Sep 2025 ₹61 Cr | Dec 2025 ₹65 Cr | Mar 2026 ₹69 Cr | Jun 2026 — - FORM: Sep 2021 ₹20 Cr | Dec 2021 ₹26 Cr | Mar 2022 ₹30 Cr | Jun 2022 ₹30 Cr | Sep 2022 ₹4 Cr | Dec 2022 ₹-14 Cr | Mar 2023 — | Jun 2023 ₹1 Cr | Sep 2023 ₹1 Cr | Dec 2023 ₹76 Cr | Mar 2024 ₹22 Cr | Jun 2024 ₹19 Cr | Sep 2024 ₹19 Cr | Dec 2024 ₹10 Cr | Mar 2025 ₹6 Cr | Jun 2025 ₹9 Cr | Sep 2025 ₹16 Cr | Dec 2025 ₹23 Cr | Mar 2026 ₹20 Cr | Jun 2026 — - CAMT: Sep 2021 ₹19 Cr | Dec 2021 ₹13 Cr | Mar 2022 ₹18 Cr | Jun 2022 ₹19 Cr | Sep 2022 ₹21 Cr | Dec 2022 ₹22 Cr | Mar 2023 ₹17 Cr | Jun 2023 ₹19 Cr | Sep 2023 ₹22 Cr | Dec 2023 ₹21 Cr | Mar 2024 ₹25 Cr | Jun 2024 ₹28 Cr | Sep 2024 ₹33 Cr | Dec 2024 ₹33 Cr | Mar 2025 ₹34 Cr | Jun 2025 ₹34 Cr | Sep 2025 ₹-53 Cr | Dec 2025 ₹36 Cr | Mar 2026 ₹32 Cr | Jun 2026 — - ACMR: Sep 2021 ₹11 Cr | Dec 2021 ₹19 Cr | Mar 2022 ₹-7 Cr | Jun 2022 ₹17 Cr | Sep 2022 ₹27 Cr | Dec 2022 ₹14 Cr | Mar 2023 ₹9 Cr | Jun 2023 ₹34 Cr | Sep 2023 ₹31 Cr | Dec 2023 ₹23 Cr | Mar 2024 ₹22 Cr | Jun 2024 ₹31 Cr | Sep 2024 ₹39 Cr | Dec 2024 ₹39 Cr | Mar 2025 ₹25 Cr | Jun 2025 ₹36 Cr | Sep 2025 ₹46 Cr | Dec 2025 ₹14 Cr | Mar 2026 ₹26 Cr | Jun 2026 — - KLIC: Sep 2021 ₹114 Cr | Dec 2021 ₹134 Cr | Mar 2022 ₹134 Cr | Jun 2022 ₹116 Cr | Sep 2022 ₹119 Cr | Dec 2022 ₹65 Cr | Mar 2023 — | Jun 2023 ₹15 Cr | Sep 2023 ₹4 Cr | Dec 2023 ₹9 Cr | Mar 2024 ₹-103 Cr | Jun 2024 ₹12 Cr | Sep 2024 ₹12 Cr | Dec 2024 ₹82 Cr | Mar 2025 ₹-85 Cr | Jun 2025 ₹-3 Cr | Sep 2025 — | Dec 2025 ₹6 Cr | Mar 2026 ₹17 Cr | Jun 2026 ₹35 Cr - ACLS: Sep 2021 ₹28 Cr | Dec 2021 ₹36 Cr | Mar 2022 ₹42 Cr | Jun 2022 ₹44 Cr | Sep 2022 ₹40 Cr | Dec 2022 ₹57 Cr | Mar 2023 ₹48 Cr | Jun 2023 ₹62 Cr | Sep 2023 ₹66 Cr | Dec 2023 ₹71 Cr | Mar 2024 ₹52 Cr | Jun 2024 ₹51 Cr | Sep 2024 ₹49 Cr | Dec 2024 ₹50 Cr | Mar 2025 ₹29 Cr | Jun 2025 ₹31 Cr | Sep 2025 ₹26 Cr | Dec 2025 ₹34 Cr | Mar 2026 ₹9 Cr | Jun 2026 — - AXTI: Sep 2021 ₹4 Cr | Dec 2021 ₹4 Cr | Mar 2022 ₹4 Cr | Jun 2022 ₹7 Cr | Sep 2022 ₹7 Cr | Dec 2022 ₹1 Cr | Mar 2023 ₹-4 Cr | Jun 2023 ₹-5 Cr | Sep 2023 ₹-6 Cr | Dec 2023 ₹-4 Cr | Mar 2024 ₹-2 Cr | Jun 2024 ₹-1 Cr | Sep 2024 ₹-3 Cr | Dec 2024 ₹-6 Cr | Mar 2025 ₹-10 Cr | Jun 2025 ₹-8 Cr | Sep 2025 ₹-2 Cr | Dec 2025 ₹-4 Cr | Mar 2026 ₹-1 Cr | Jun 2026 — - IPGP: Sep 2021 ₹75 Cr | Dec 2021 ₹65 Cr | Mar 2022 ₹70 Cr | Jun 2022 ₹57 Cr | Sep 2022 ₹77 Cr | Dec 2022 ₹-93 Cr | Mar 2023 ₹60 Cr | Jun 2023 ₹62 Cr | Sep 2023 ₹55 Cr | Dec 2023 ₹41 Cr | Mar 2024 ₹24 Cr | Jun 2024 ₹20 Cr | Sep 2024 ₹-234 Cr | Dec 2024 ₹8 Cr | Mar 2025 ₹4 Cr | Jun 2025 ₹7 Cr | Sep 2025 ₹7 Cr | Dec 2025 ₹13 Cr | Mar 2026 ₹2 Cr | Jun 2026 — - UCTT: Sep 2021 ₹34 Cr | Dec 2021 ₹49 Cr | Mar 2022 — | Jun 2022 ₹31 Cr | Sep 2022 ₹-22 Cr | Dec 2022 ₹28 Cr | Mar 2023 ₹0 Cr | Jun 2023 ₹-8 Cr | Sep 2023 ₹-13 Cr | Dec 2023 ₹-2 Cr | Mar 2024 ₹-7 Cr | Jun 2024 ₹22 Cr | Sep 2024 ₹0 Cr | Dec 2024 ₹20 Cr | Mar 2025 ₹-3 Cr | Jun 2025 ₹-161 Cr | Sep 2025 ₹-8 Cr | Dec 2025 ₹-1 Cr | Mar 2026 ₹-15 Cr | Jun 2026 — - AMBA: Sep 2021 ₹-7 Cr | Dec 2021 ₹1 Cr | Mar 2022 ₹-9 Cr | Jun 2022 ₹-11 Cr | Sep 2022 ₹-24 Cr | Dec 2022 ₹-20 Cr | Mar 2023 ₹-11 Cr | Jun 2023 ₹-36 Cr | Sep 2023 ₹-31 Cr | Dec 2023 ₹-42 Cr | Mar 2024 ₹-61 Cr | Jun 2024 ₹-38 Cr | Sep 2024 ₹-35 Cr | Dec 2024 ₹-24 Cr | Mar 2025 ₹-20 Cr | Jun 2025 ₹-24 Cr | Sep 2025 ₹-20 Cr | Dec 2025 ₹-15 Cr | Mar 2026 ₹-16 Cr | Jun 2026 ₹-18 Cr - AEHR: Sep 2021 ₹1 Cr | Dec 2021 ₹1 Cr | Mar 2022 ₹2 Cr | Jun 2022 ₹6 Cr | Sep 2022 ₹1 Cr | Dec 2022 ₹4 Cr | Mar 2023 ₹4 Cr | Jun 2023 ₹6 Cr | Sep 2023 ₹5 Cr | Dec 2023 ₹6 Cr | Mar 2024 ₹-1 Cr | Jun 2024 ₹24 Cr | Sep 2024 ₹1 Cr | Dec 2024 ₹-1 Cr | Mar 2025 ₹-1 Cr | Jun 2025 ₹-3 Cr | Sep 2025 ₹-2 Cr | Dec 2025 ₹-3 Cr | Mar 2026 ₹-3 Cr | Jun 2026 — - VECO: Sep 2021 ₹9 Cr | Dec 2021 ₹13 Cr | Mar 2022 ₹13 Cr | Jun 2022 ₹10 Cr | Sep 2022 ₹15 Cr | Dec 2022 ₹129 Cr | Mar 2023 ₹9 Cr | Jun 2023 ₹-85 Cr | Sep 2023 ₹25 Cr | Dec 2023 ₹22 Cr | Mar 2024 ₹22 Cr | Jun 2024 ₹15 Cr | Sep 2024 ₹22 Cr | Dec 2024 ₹43 Cr | Mar 2025 ₹12 Cr | Jun 2025 ₹12 Cr | Sep 2025 ₹11 Cr | Dec 2025 ₹10 Cr | Mar 2026 ₹0 Cr | Jun 2026 — - ICHR: Sep 2021 ₹19 Cr | Dec 2021 ₹15 Cr | Mar 2022 — | Jun 2022 ₹8 Cr | Sep 2022 ₹22 Cr | Dec 2022 ₹14 Cr | Mar 2023 ₹0 Cr | Jun 2023 ₹-21 Cr | Sep 2023 ₹-10 Cr | Dec 2023 ₹-12 Cr | Mar 2024 ₹-9 Cr | Jun 2024 ₹-5 Cr | Sep 2024 ₹-3 Cr | Dec 2024 ₹-4 Cr | Mar 2025 ₹-5 Cr | Jun 2025 ₹-9 Cr | Sep 2025 ₹-23 Cr | Dec 2025 ₹-16 Cr | Mar 2026 ₹-2 Cr | Jun 2026 — - COHU: Sep 2021 ₹24 Cr | Dec 2021 ₹31 Cr | Mar 2022 ₹22 Cr | Jun 2022 ₹29 Cr | Sep 2022 ₹25 Cr | Dec 2022 ₹22 Cr | Mar 2023 — | Jun 2023 ₹16 Cr | Sep 2023 ₹11 Cr | Dec 2023 ₹-2 Cr | Mar 2024 ₹-15 Cr | Jun 2024 ₹-16 Cr | Sep 2024 ₹-18 Cr | Dec 2024 ₹-21 Cr | Mar 2025 ₹-31 Cr | Jun 2025 ₹-17 Cr | Sep 2025 ₹-4 Cr | Dec 2025 ₹-22 Cr | Mar 2026 ₹-12 Cr | Jun 2026 — - PLAB: Sep 2021 ₹24 Cr | Dec 2021 ₹29 Cr | Mar 2022 ₹32 Cr | Jun 2022 ₹43 Cr | Sep 2022 ₹49 Cr | Dec 2022 ₹55 Cr | Mar 2023 ₹29 Cr | Jun 2023 ₹59 Cr | Sep 2023 ₹48 Cr | Dec 2023 ₹63 Cr | Mar 2024 ₹39 Cr | Jun 2024 ₹56 Cr | Sep 2024 ₹48 Cr | Dec 2024 ₹40 Cr | Mar 2025 ₹58 Cr | Jun 2025 ₹24 Cr | Sep 2025 ₹29 Cr | Dec 2025 ₹79 Cr | Mar 2026 ₹60 Cr | Jun 2026 ₹43 Cr - DQ: Sep 2021 ₹356 Cr | Dec 2021 ₹186 Cr | Mar 2022 ₹667 Cr | Jun 2022 ₹780 Cr | Sep 2022 ₹546 Cr | Dec 2022 ₹486 Cr | Mar 2023 ₹395 Cr | Jun 2023 ₹162 Cr | Sep 2023 ₹18 Cr | Dec 2023 ₹78 Cr | Mar 2024 ₹28 Cr | Jun 2024 ₹-158 Cr | Sep 2024 ₹-77 Cr | Dec 2024 ₹-242 Cr | Mar 2025 ₹-93 Cr | Jun 2025 ₹-99 Cr | Sep 2025 ₹-15 Cr | Dec 2025 ₹-10 Cr | Mar 2026 ₹-122 Cr | Jun 2026 — - ASYS: Sep 2021 ₹1 Cr | Dec 2021 ₹1 Cr | Mar 2022 ₹2 Cr | Jun 2022 ₹10 Cr | Sep 2022 ₹4 Cr | Dec 2022 ₹-3 Cr | Mar 2023 ₹3 Cr | Jun 2023 ₹-1 Cr | Sep 2023 ₹-12 Cr | Dec 2023 ₹-9 Cr | Mar 2024 ₹1 Cr | Jun 2024 ₹0 Cr | Sep 2024 ₹-1 Cr | Dec 2024 ₹0 Cr | Mar 2025 ₹-32 Cr | Jun 2025 ₹0 Cr | Sep 2025 ₹1 Cr | Dec 2025 ₹0 Cr | Mar 2026 ₹1 Cr | Jun 2026 — - ATOM: Sep 2021 ₹-4 Cr | Dec 2021 ₹-4 Cr | Mar 2022 ₹-4 Cr | Jun 2022 ₹-4 Cr | Sep 2022 ₹-5 Cr | Dec 2022 ₹-4 Cr | Mar 2023 ₹-5 Cr | Jun 2023 ₹-5 Cr | Sep 2023 ₹-5 Cr | Dec 2023 ₹-5 Cr | Mar 2024 ₹-5 Cr | Jun 2024 ₹-4 Cr | Sep 2024 ₹-5 Cr | Dec 2024 ₹-5 Cr | Mar 2025 ₹-5 Cr | Jun 2025 ₹-5 Cr | Sep 2025 ₹-6 Cr | Dec 2025 ₹-4 Cr | Mar 2026 ₹-6 Cr | Jun 2026 — - INTT: Sep 2021 ₹2 Cr | Dec 2021 ₹0 Cr | Mar 2022 ₹1 Cr | Jun 2022 ₹2 Cr | Sep 2022 ₹3 Cr | Dec 2022 ₹3 Cr | Mar 2023 ₹3 Cr | Jun 2023 ₹3 Cr | Sep 2023 ₹2 Cr | Dec 2023 ₹1 Cr | Mar 2024 ₹1 Cr | Jun 2024 ₹0 Cr | Sep 2024 ₹0 Cr | Dec 2024 ₹2 Cr | Mar 2025 ₹-2 Cr | Jun 2025 ₹-1 Cr | Sep 2025 ₹-1 Cr | Dec 2025 ₹1 Cr | Mar 2026 ₹1 Cr | Jun 2026 — ### 20-quarter Profit growth history - ASML: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 36% | Dec 2022 2.0% | Mar 2023 — | Jun 2023 192% | Sep 2023 34% | Dec 2023 10% | Mar 2024 — | Jun 2024 -20% | Sep 2024 6.6% | Dec 2024 43% | Mar 2025 94% | Jun 2025 44% | Sep 2025 2.4% | Dec 2025 7.1% | Mar 2026 14% | Jun 2026 31% - AMAT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -6.4% | Dec 2022 -7.1% | Mar 2023 -4.2% | Jun 2023 2.5% | Sep 2023 -2.9% | Dec 2023 26% | Mar 2024 18% | Jun 2024 9.3% | Sep 2024 9.3% | Dec 2024 -14% | Mar 2025 -41% | Jun 2025 24% | Sep 2025 4.3% | Dec 2025 9.6% | Mar 2026 71% | Jun 2026 31% - LRCX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 5.6% | Sep 2022 21% | Dec 2022 23% | Mar 2023 -20% | Jun 2023 -34% | Sep 2023 -38% | Dec 2023 -35% | Mar 2024 19% | Jun 2024 27% | Sep 2024 26% | Dec 2024 25% | Mar 2025 38% | Jun 2025 69% | Sep 2025 41% | Dec 2025 34% | Mar 2026 37% | Jun 2026 — - KLAC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 27% | Sep 2022 -3.9% | Dec 2022 36% | Mar 2023 -4.5% | Jun 2023 -15% | Sep 2023 -28% | Dec 2023 -40% | Mar 2024 -14% | Jun 2024 22% | Sep 2024 28% | Dec 2024 42% | Mar 2025 81% | Jun 2025 44% | Sep 2025 19% | Dec 2025 39% | Mar 2026 10% | Jun 2026 — - TER: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -40% | Dec 2022 -29% | Mar 2023 — | Jun 2023 -48% | Sep 2023 -39% | Dec 2023 -30% | Mar 2024 — | Jun 2024 121% | Sep 2024 23% | Dec 2024 19% | Mar 2025 63% | Jun 2025 -55% | Sep 2025 -15% | Dec 2025 71% | Mar 2026 288% | Jun 2026 — - Q: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 7.7% | Dec 2025 -51% | Mar 2026 -19% | Jun 2026 — - ENTG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 11% | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 100% | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 -61% | Dec 2024 168% | Mar 2025 40% | Jun 2025 -22% | Sep 2025 -9.0% | Dec 2025 -52% | Mar 2026 46% | Jun 2026 — - ONTO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 51% | Sep 2022 44% | Dec 2022 — | Mar 2023 — | Jun 2023 -45% | Sep 2023 -50% | Dec 2023 -42% | Mar 2024 — | Jun 2024 83% | Sep 2024 104% | Dec 2024 63% | Mar 2025 36% | Jun 2025 -36% | Sep 2025 -47% | Dec 2025 — | Mar 2026 -83% | Jun 2026 — - AMKR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -0.8% | Sep 2022 68% | Dec 2022 -24% | Mar 2023 -74% | Jun 2023 -49% | Sep 2023 -57% | Dec 2023 -27% | Mar 2024 33% | Jun 2024 4.7% | Sep 2024 -7.5% | Dec 2024 -11% | Mar 2025 -63% | Jun 2025 -18% | Sep 2025 3.3% | Dec 2025 63% | Mar 2026 282% | Jun 2026 — - NVMI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 52% | Sep 2022 17% | Dec 2022 64% | Mar 2023 2.9% | Jun 2023 -14% | Sep 2023 -2.9% | Dec 2023 5.6% | Mar 2024 5.7% | Jun 2024 50% | Sep 2024 50% | Dec 2024 32% | Mar 2025 76% | Jun 2025 51% | Sep 2025 20% | Dec 2025 30% | Mar 2026 6.2% | Jun 2026 — - FORM: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 67% | Sep 2022 -80% | Dec 2022 -154% | Mar 2023 — | Jun 2023 -97% | Sep 2023 -75% | Dec 2023 — | Mar 2024 — | Jun 2024 1,800% | Sep 2024 1,800% | Dec 2024 -87% | Mar 2025 -73% | Jun 2025 -53% | Sep 2025 -16% | Dec 2025 130% | Mar 2026 233% | Jun 2026 — - CAMT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 19% | Sep 2022 11% | Dec 2022 69% | Mar 2023 -5.6% | Jun 2023 0.0% | Sep 2023 4.8% | Dec 2023 -4.6% | Mar 2024 47% | Jun 2024 47% | Sep 2024 50% | Dec 2024 57% | Mar 2025 36% | Jun 2025 21% | Sep 2025 -261% | Dec 2025 9.1% | Mar 2026 -5.9% | Jun 2026 — - ACMR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 143% | Sep 2022 145% | Dec 2022 -26% | Mar 2023 — | Jun 2023 100% | Sep 2023 15% | Dec 2023 64% | Mar 2024 144% | Jun 2024 -8.8% | Sep 2024 26% | Dec 2024 70% | Mar 2025 14% | Jun 2025 16% | Sep 2025 18% | Dec 2025 -64% | Mar 2026 4.0% | Jun 2026 — - KLIC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 4.4% | Dec 2022 -51% | Mar 2023 — | Jun 2023 -87% | Sep 2023 -97% | Dec 2023 -86% | Mar 2024 — | Jun 2024 -20% | Sep 2024 200% | Dec 2024 811% | Mar 2025 — | Jun 2025 -125% | Sep 2025 — | Dec 2025 -93% | Mar 2026 — | Jun 2026 — - ACLS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 132% | Sep 2022 43% | Dec 2022 58% | Mar 2023 14% | Jun 2023 41% | Sep 2023 65% | Dec 2023 25% | Mar 2024 8.3% | Jun 2024 -18% | Sep 2024 -26% | Dec 2024 -30% | Mar 2025 -44% | Jun 2025 -39% | Sep 2025 -47% | Dec 2025 -32% | Mar 2026 -69% | Jun 2026 — - AXTI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 40% | Sep 2022 75% | Dec 2022 -75% | Mar 2023 -200% | Jun 2023 -171% | Sep 2023 -186% | Dec 2023 -500% | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — - IPGP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -19% | Sep 2022 2.7% | Dec 2022 -243% | Mar 2023 -14% | Jun 2023 8.8% | Sep 2023 -29% | Dec 2023 — | Mar 2024 -60% | Jun 2024 -68% | Sep 2024 -525% | Dec 2024 -80% | Mar 2025 -83% | Jun 2025 -65% | Sep 2025 — | Dec 2025 63% | Mar 2026 -50% | Jun 2026 — - UCTT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 72% | Sep 2022 -165% | Dec 2022 -43% | Mar 2023 — | Jun 2023 -126% | Sep 2023 — | Dec 2023 -107% | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 -832% | Sep 2025 — | Dec 2025 -105% | Mar 2026 — | Jun 2026 — - AMBA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 -2,100% | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — - AEHR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 500% | Sep 2022 0.0% | Dec 2022 300% | Mar 2023 100% | Jun 2023 0.0% | Sep 2023 400% | Dec 2023 50% | Mar 2024 -125% | Jun 2024 300% | Sep 2024 -80% | Dec 2024 -117% | Mar 2025 — | Jun 2025 -113% | Sep 2025 -300% | Dec 2025 — | Mar 2026 — | Jun 2026 — - VECO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 67% | Sep 2022 67% | Dec 2022 892% | Mar 2023 -31% | Jun 2023 -950% | Sep 2023 67% | Dec 2023 -83% | Mar 2024 144% | Jun 2024 — | Sep 2024 -12% | Dec 2024 95% | Mar 2025 -45% | Jun 2025 -20% | Sep 2025 -50% | Dec 2025 -77% | Mar 2026 -100% | Jun 2026 — - ICHR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -65% | Sep 2022 16% | Dec 2022 -6.7% | Mar 2023 — | Jun 2023 -363% | Sep 2023 -145% | Dec 2023 -186% | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — - COHU: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 4.2% | Dec 2022 -29% | Mar 2023 — | Jun 2023 -45% | Sep 2023 -56% | Dec 2023 -109% | Mar 2024 — | Jun 2024 -200% | Sep 2024 -264% | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — - PLAB: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 104% | Dec 2022 90% | Mar 2023 -9.4% | Jun 2023 37% | Sep 2023 -2.0% | Dec 2023 15% | Mar 2024 34% | Jun 2024 -5.1% | Sep 2024 0.0% | Dec 2024 -37% | Mar 2025 49% | Jun 2025 -57% | Sep 2025 -40% | Dec 2025 98% | Mar 2026 3.5% | Jun 2026 79% - DQ: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 221% | Sep 2022 53% | Dec 2022 161% | Mar 2023 -41% | Jun 2023 -79% | Sep 2023 -97% | Dec 2023 -84% | Mar 2024 -93% | Jun 2024 -198% | Sep 2024 -528% | Dec 2024 -410% | Mar 2025 -432% | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — - ASYS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 300% | Dec 2022 -400% | Mar 2023 50% | Jun 2023 -110% | Sep 2023 -400% | Dec 2023 — | Mar 2024 -67% | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 -3,300% | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — - INTT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -33% | Sep 2022 50% | Dec 2022 — | Mar 2023 200% | Jun 2023 50% | Sep 2023 -33% | Dec 2023 -67% | Mar 2024 -67% | Jun 2024 -100% | Sep 2024 -100% | Dec 2024 100% | Mar 2025 -300% | Jun 2025 — | Sep 2025 — | Dec 2025 -50% | Mar 2026 — | Jun 2026 — ## Return On Capital Employed What the numbers say: Lam Research Corporation leads ROCE at 15.5%, 2.8 percentage points above Teradyne, Inc.. Amtech Systems, Inc. has the strongest latest improvement at +42.7 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability. Investor read: Lam Research Corporation sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it. This conclusion weakens if: The next two comparable reports reverse the current roce change signal. Evidence: Lam Research Corporation · 15.5% | 22% versus #2 · Teradyne, Inc. | 8/8 recent comparable periods | 28/29 companies · 511 observations Definition: ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability. ### ROCE — highest 1. Lam Research Corporation (LRCX): 16% 2. Teradyne, Inc. (TER): 13% 3. KLA Corporation (KLAC): 12% 4. ASML Holding N.V. (ASML): 11% 5. Applied Materials, Inc. (AMAT): 8.9% ### ROCE change — fastest improvers 1. Amtech Systems, Inc. (ASYS): +42.7 pp 2. Teradyne, Inc. (TER): +9.7 pp 3. Atomera Incorporated (ATOM): +5.7 pp 4. Kulicke and Soffa Industries, Inc. (KLIC): +4.6 pp 5. AXT, Inc. (AXTI): +4.3 pp ### 20-quarter ROCE history - ASML: Sep 2021 — | Dec 2021 9.9% | Mar 2022 — | Jun 2022 4.2% | Sep 2022 9.1% | Dec 2022 11% | Mar 2023 — | Jun 2023 13% | Sep 2023 12% | Dec 2023 11% | Mar 2024 6.6% | Jun 2024 8.2% | Sep 2024 10% | Dec 2024 11% | Mar 2025 11% | Jun 2025 9.6% | Sep 2025 9.6% | Dec 2025 11% | Mar 2026 12% | Jun 2026 11% - AMAT: Sep 2021 — | Dec 2021 11% | Mar 2022 10% | Jun 2022 9.9% | Sep 2022 9.9% | Dec 2022 10% | Mar 2023 9.9% | Jun 2023 9.5% | Sep 2023 8.7% | Dec 2023 9.2% | Mar 2024 8.7% | Jun 2024 8.3% | Sep 2024 8.0% | Dec 2024 8.3% | Mar 2025 8.7% | Jun 2025 8.6% | Sep 2025 8.5% | Dec 2025 6.3% | Mar 2026 6.6% | Jun 2026 8.9% - LRCX: Sep 2021 12% | Dec 2021 11% | Mar 2022 9.9% | Jun 2022 12% | Sep 2022 13% | Dec 2022 12% | Mar 2023 6.9% | Jun 2023 6.3% | Sep 2023 7.3% | Dec 2023 7.2% | Mar 2024 7.4% | Jun 2024 7.8% | Sep 2024 8.9% | Dec 2024 9.2% | Mar 2025 11% | Jun 2025 12% | Sep 2025 13% | Dec 2025 12% | Mar 2026 14% | Jun 2026 16% - KLAC: Sep 2021 10% | Dec 2021 12% | Mar 2022 11% | Jun 2022 11% | Sep 2022 12% | Dec 2022 13% | Mar 2023 8.8% | Jun 2023 8.2% | Sep 2023 8.9% | Dec 2023 7.3% | Mar 2024 7.1% | Jun 2024 9.3% | Sep 2024 11% | Dec 2024 9.8% | Mar 2025 12% | Jun 2025 12% | Sep 2025 12% | Dec 2025 12% | Mar 2026 12% | Jun 2026 12% - TER: Sep 2021 — | Dec 2021 11% | Mar 2022 — | Jun 2022 6.3% | Sep 2022 8.7% | Dec 2022 8.2% | Mar 2023 — | Jun 2023 3.3% | Sep 2023 5.2% | Dec 2023 5.4% | Mar 2024 2.8% | Jun 2024 7.3% | Sep 2024 5.2% | Dec 2024 5.2% | Mar 2025 4.1% | Jun 2025 3.0% | Sep 2025 4.7% | Dec 2025 9.5% | Mar 2026 15% | Jun 2026 13% - Q: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 0.0% | Dec 2023 0.0% | Mar 2024 — | Jun 2024 — | Sep 2024 2.1% | Dec 2024 2.0% | Mar 2025 — | Jun 2025 — | Sep 2025 2.4% | Dec 2025 2.0% | Mar 2026 4.2% | Jun 2026 — - ENTG: Sep 2021 — | Dec 2021 5.3% | Mar 2022 — | Jun 2022 5.9% | Sep 2022 3.9% | Dec 2022 0.2% | Mar 2023 — | Jun 2023 0.2% | Sep 2023 -0.6% | Dec 2023 0.5% | Mar 2024 1.4% | Jun 2024 1.5% | Sep 2024 1.6% | Dec 2024 1.9% | Mar 2025 1.5% | Jun 2025 1.3% | Sep 2025 1.6% | Dec 2025 1.3% | Mar 2026 1.8% | Jun 2026 — - ONTO: Sep 2021 3.1% | Dec 2021 — | Mar 2022 3.5% | Jun 2022 4.0% | Sep 2022 3.8% | Dec 2022 3.9% | Mar 2023 — | Jun 2023 1.8% | Sep 2023 1.5% | Dec 2023 1.7% | Mar 2024 2.5% | Jun 2024 2.8% | Sep 2024 2.9% | Dec 2024 2.3% | Mar 2025 3.4% | Jun 2025 1.7% | Sep 2025 1.2% | Dec 2025 — | Mar 2026 0.7% | Jun 2026 — - AMKR: Sep 2021 5.4% | Dec 2021 6.3% | Mar 2022 5.0% | Jun 2022 3.4% | Sep 2022 7.1% | Dec 2022 4.7% | Mar 2023 1.4% | Jun 2023 1.6% | Sep 2023 3.3% | Dec 2023 3.0% | Mar 2024 1.4% | Jun 2024 1.6% | Sep 2024 2.8% | Dec 2024 2.5% | Mar 2025 0.6% | Jun 2025 1.6% | Sep 2025 2.8% | Dec 2025 3.1% | Mar 2026 1.7% | Jun 2026 3.0% - NVMI: Sep 2021 8.0% | Dec 2021 5.4% | Mar 2022 6.3% | Jun 2022 5.9% | Sep 2022 6.0% | Dec 2022 5.4% | Mar 2023 4.9% | Jun 2023 3.8% | Sep 2023 4.3% | Dec 2023 4.1% | Mar 2024 4.3% | Jun 2024 5.6% | Sep 2024 5.7% | Dec 2024 6.1% | Mar 2025 6.6% | Jun 2025 6.3% | Sep 2025 4.3% | Dec 2025 3.9% | Mar 2026 5.6% | Jun 2026 — - FORM: Sep 2021 2.9% | Dec 2021 3.8% | Mar 2022 3.9% | Jun 2022 3.8% | Sep 2022 0.5% | Dec 2022 -1.8% | Mar 2023 — | Jun 2023 0.0% | Sep 2023 -0.1% | Dec 2023 8.9% | Mar 2024 2.3% | Jun 2024 1.9% | Sep 2024 1.9% | Dec 2024 0.8% | Mar 2025 0.3% | Jun 2025 1.2% | Sep 2025 1.7% | Dec 2025 2.2% | Mar 2026 1.5% | Jun 2026 5.2% - CAMT: Sep 2021 9.2% | Dec 2021 5.3% | Mar 2022 5.1% | Jun 2022 5.2% | Sep 2022 4.9% | Dec 2022 3.8% | Mar 2023 2.5% | Jun 2023 2.5% | Sep 2023 3.1% | Dec 2023 2.7% | Mar 2024 3.4% | Jun 2024 3.9% | Sep 2024 4.3% | Dec 2024 4.3% | Mar 2025 4.5% | Jun 2025 4.2% | Sep 2025 3.5% | Dec 2025 3.3% | Mar 2026 2.7% | Jun 2026 — - ACMR: Sep 2021 5.0% | Dec 2021 3.5% | Mar 2022 -1.7% | Jun 2022 3.7% | Sep 2022 5.9% | Dec 2022 2.0% | Mar 2023 1.0% | Jun 2023 3.6% | Sep 2023 3.8% | Dec 2023 2.6% | Mar 2024 2.7% | Jun 2024 3.9% | Sep 2024 4.2% | Dec 2024 4.0% | Mar 2025 2.2% | Jun 2025 2.6% | Sep 2025 1.8% | Dec 2025 1.4% | Mar 2026 2.0% | Jun 2026 — - KLIC: Sep 2021 — | Dec 2021 14% | Mar 2022 13% | Jun 2022 11% | Sep 2022 9.9% | Dec 2022 5.2% | Mar 2023 — | Jun 2023 1.0% | Sep 2023 -0.3% | Dec 2023 0.1% | Mar 2024 -8.5% | Jun 2024 0.7% | Sep 2024 0.2% | Dec 2024 7.3% | Mar 2025 -8.1% | Jun 2025 -0.6% | Sep 2025 — | Dec 2025 0.1% | Mar 2026 1.8% | Jun 2026 4.0% - ACLS: Sep 2021 6.6% | Dec 2021 8.1% | Mar 2022 8.3% | Jun 2022 8.9% | Sep 2022 8.4% | Dec 2022 8.2% | Mar 2023 7.1% | Jun 2023 8.3% | Sep 2023 8.7% | Dec 2023 9.0% | Mar 2024 6.1% | Jun 2024 5.5% | Sep 2024 4.6% | Dec 2024 5.1% | Mar 2025 2.7% | Jun 2025 2.6% | Sep 2025 2.2% | Dec 2025 3.1% | Mar 2026 0.7% | Jun 2026 — - AXTI: Sep 2021 1.0% | Dec 2021 1.1% | Mar 2022 1.3% | Jun 2022 1.9% | Sep 2022 1.6% | Dec 2022 -0.3% | Mar 2023 -1.5% | Jun 2023 -2.4% | Sep 2023 -2.4% | Dec 2023 -1.2% | Mar 2024 -1.2% | Jun 2024 -0.7% | Sep 2024 -1.2% | Dec 2024 -2.3% | Mar 2025 -3.8% | Jun 2025 -2.6% | Sep 2025 -0.4% | Dec 2025 -1.3% | Mar 2026 -0.5% | Jun 2026 1.7% - IPGP: Sep 2021 3.7% | Dec 2021 3.0% | Mar 2022 3.3% | Jun 2022 2.6% | Sep 2022 3.4% | Dec 2022 -4.1% | Mar 2023 2.9% | Jun 2023 2.8% | Sep 2023 2.2% | Dec 2023 1.3% | Mar 2024 0.8% | Jun 2024 0.5% | Sep 2024 -11% | Dec 2024 0.6% | Mar 2025 0.1% | Jun 2025 0.0% | Sep 2025 0.4% | Dec 2025 0.2% | Mar 2026 -0.4% | Jun 2026 — - UCTT: Sep 2021 4.3% | Dec 2021 5.1% | Mar 2022 — | Jun 2022 3.6% | Sep 2022 -0.4% | Dec 2022 2.8% | Mar 2023 0.8% | Jun 2023 0.8% | Sep 2023 0.4% | Dec 2023 0.3% | Mar 2024 1.1% | Jun 2024 1.5% | Sep 2024 1.6% | Dec 2024 1.6% | Mar 2025 0.8% | Jun 2025 -9.4% | Sep 2025 0.7% | Dec 2025 0.7% | Mar 2026 0.7% | Jun 2026 — - AMBA: Sep 2021 — | Dec 2021 -0.2% | Mar 2022 -2.3% | Jun 2022 -1.9% | Sep 2022 -3.6% | Dec 2022 -3.5% | Mar 2023 -3.9% | Jun 2023 -5.8% | Sep 2023 -5.8% | Dec 2023 -6.9% | Mar 2024 -6.9% | Jun 2024 -6.6% | Sep 2024 -6.1% | Dec 2024 -4.4% | Mar 2025 -4.4% | Jun 2025 -4.5% | Sep 2025 -3.9% | Dec 2025 -2.8% | Mar 2026 -3.1% | Jun 2026 -3.2% - AEHR: Sep 2021 -6.7% | Dec 2021 2.6% | Mar 2022 8.0% | Jun 2022 18% | Sep 2022 1.4% | Dec 2022 7.1% | Mar 2023 6.3% | Jun 2023 8.5% | Sep 2023 6.0% | Dec 2023 7.3% | Mar 2024 -2.4% | Jun 2024 2.6% | Sep 2024 0.1% | Dec 2024 -1.4% | Mar 2025 -1.0% | Jun 2025 -2.6% | Sep 2025 -3.1% | Dec 2025 -3.4% | Mar 2026 -3.0% | Jun 2026 -0.7% - VECO: Sep 2021 2.1% | Dec 2021 2.4% | Mar 2022 2.2% | Jun 2022 1.7% | Sep 2022 2.3% | Dec 2022 1.7% | Mar 2023 1.2% | Jun 2023 1.6% | Sep 2023 2.6% | Dec 2023 2.6% | Mar 2024 2.3% | Jun 2024 1.7% | Sep 2024 2.4% | Dec 2024 3.1% | Mar 2025 1.3% | Jun 2025 1.2% | Sep 2025 1.0% | Dec 2025 0.7% | Mar 2026 -0.2% | Jun 2026 — - ICHR: Sep 2021 3.8% | Dec 2021 2.3% | Mar 2022 — | Jun 2022 1.5% | Sep 2022 3.3% | Dec 2022 2.1% | Mar 2023 0.5% | Jun 2023 -0.3% | Sep 2023 -0.5% | Dec 2023 -0.9% | Mar 2024 -0.4% | Jun 2024 -0.3% | Sep 2024 0.0% | Dec 2024 -0.1% | Mar 2025 -0.1% | Jun 2025 -0.6% | Sep 2025 -2.3% | Dec 2025 -1.7% | Mar 2026 0.2% | Jun 2026 — - COHU: Sep 2021 3.4% | Dec 2021 2.8% | Mar 2022 2.6% | Jun 2022 3.5% | Sep 2022 3.2% | Dec 2022 2.6% | Mar 2023 — | Jun 2023 1.9% | Sep 2023 1.5% | Dec 2023 0.0% | Mar 2024 -1.8% | Jun 2024 -1.6% | Sep 2024 -1.6% | Dec 2024 -2.2% | Mar 2025 -2.9% | Jun 2025 -1.8% | Sep 2025 -1.0% | Dec 2025 -1.5% | Mar 2026 -1.1% | Jun 2026 0.0% - PLAB: Sep 2021 — | Dec 2021 3.1% | Mar 2022 3.4% | Jun 2022 4.4% | Sep 2022 5.6% | Dec 2022 5.4% | Mar 2023 4.7% | Jun 2023 5.6% | Sep 2023 5.3% | Dec 2023 5.3% | Mar 2024 4.4% | Jun 2024 4.2% | Sep 2024 3.8% | Dec 2024 3.9% | Mar 2025 3.5% | Jun 2025 3.8% | Sep 2025 3.2% | Dec 2025 3.3% | Mar 2026 3.4% | Jun 2026 2.6% - DQ: Sep 2021 25% | Dec 2021 12% | Mar 2022 35% | Jun 2022 27% | Sep 2022 16% | Dec 2022 13% | Mar 2023 8.6% | Jun 2023 3.5% | Sep 2023 0.4% | Dec 2023 1.2% | Mar 2024 0.4% | Jun 2024 -3.0% | Sep 2024 -1.5% | Dec 2024 -4.8% | Mar 2025 -1.8% | Jun 2025 -1.9% | Sep 2025 -0.3% | Dec 2025 -0.4% | Mar 2026 -2.6% | Jun 2026 — - ASYS: Sep 2021 1.3% | Dec 2021 1.3% | Mar 2022 2.6% | Jun 2022 9.2% | Sep 2022 3.7% | Dec 2022 -2.6% | Mar 2023 0.5% | Jun 2023 -1.0% | Sep 2023 -11% | Dec 2023 -8.6% | Mar 2024 1.3% | Jun 2024 0.7% | Sep 2024 0.0% | Dec 2024 0.3% | Mar 2025 -40% | Jun 2025 1.1% | Sep 2025 2.1% | Dec 2025 0.9% | Mar 2026 2.5% | Jun 2026 — - ATOM: Sep 2021 -13% | Dec 2021 -11% | Mar 2022 -12% | Jun 2022 -15% | Sep 2022 -15% | Dec 2022 -15% | Mar 2023 -21% | Jun 2023 -21% | Sep 2023 -22% | Dec 2023 -22% | Mar 2024 -25% | Jun 2024 -21% | Sep 2024 -25% | Dec 2024 -21% | Mar 2025 -25% | Jun 2025 -26% | Sep 2025 -32% | Dec 2025 -21% | Mar 2026 -20% | Jun 2026 — - INTT: Sep 2021 4.4% | Dec 2021 0.4% | Mar 2022 1.2% | Jun 2022 4.0% | Sep 2022 4.5% | Dec 2022 5.0% | Mar 2023 4.3% | Jun 2023 3.6% | Sep 2023 2.6% | Dec 2023 1.1% | Mar 2024 0.5% | Jun 2024 0.3% | Sep 2024 0.4% | Dec 2024 1.8% | Mar 2025 -2.4% | Jun 2025 -0.8% | Sep 2025 -1.0% | Dec 2025 1.1% | Mar 2026 0.8% | Jun 2026 — ### 20-quarter ROCE change history - ASML: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +1.1 pp | Mar 2023 — | Jun 2023 +8.5 pp | Sep 2023 +3.0 pp | Dec 2023 +0.4 pp | Mar 2024 — | Jun 2024 −4.5 pp | Sep 2024 −1.7 pp | Dec 2024 −0.1 pp | Mar 2025 +4.1 pp | Jun 2025 +1.4 pp | Sep 2025 −0.8 pp | Dec 2025 −0.5 pp | Mar 2026 +0.8 pp | Jun 2026 +1.4 pp - AMAT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −0.5 pp | Mar 2023 −0.5 pp | Jun 2023 −0.4 pp | Sep 2023 −1.2 pp | Dec 2023 −1.1 pp | Mar 2024 −1.2 pp | Jun 2024 −1.2 pp | Sep 2024 −0.7 pp | Dec 2024 −0.9 pp | Mar 2025 0.0 pp | Jun 2025 +0.3 pp | Sep 2025 +0.5 pp | Dec 2025 −2.0 pp | Mar 2026 −2.1 pp | Jun 2026 +0.3 pp - LRCX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +1.6 pp | Dec 2022 +1.3 pp | Mar 2023 −3.0 pp | Jun 2023 −5.5 pp | Sep 2023 −5.8 pp | Dec 2023 −5.0 pp | Mar 2024 +0.5 pp | Jun 2024 +1.5 pp | Sep 2024 +1.6 pp | Dec 2024 +2.0 pp | Mar 2025 +3.6 pp | Jun 2025 +4.1 pp | Sep 2025 +3.6 pp | Dec 2025 +3.0 pp | Mar 2026 +2.6 pp | Jun 2026 +3.6 pp - KLAC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +1.8 pp | Dec 2022 +0.9 pp | Mar 2023 −1.7 pp | Jun 2023 −2.7 pp | Sep 2023 −3.0 pp | Dec 2023 −5.2 pp | Mar 2024 −1.7 pp | Jun 2024 +1.1 pp | Sep 2024 +1.7 pp | Dec 2024 +2.5 pp | Mar 2025 +4.8 pp | Jun 2025 +2.6 pp | Sep 2025 +1.0 pp | Dec 2025 +1.7 pp | Mar 2026 −0.4 pp | Jun 2026 +0.2 pp - TER: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −3.0 pp | Mar 2023 — | Jun 2023 −3.0 pp | Sep 2023 −3.5 pp | Dec 2023 −2.8 pp | Mar 2024 — | Jun 2024 +4.0 pp | Sep 2024 0.0 pp | Dec 2024 −0.2 pp | Mar 2025 +1.3 pp | Jun 2025 −4.3 pp | Sep 2025 −0.5 pp | Dec 2025 +4.3 pp | Mar 2026 +10.5 pp | Jun 2026 +9.7 pp - Q: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 +2.1 pp | Dec 2024 +2.0 pp | Mar 2025 — | Jun 2025 — | Sep 2025 +0.3 pp | Dec 2025 0.0 pp | Mar 2026 — | Jun 2026 — - ENTG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −5.1 pp | Mar 2023 — | Jun 2023 −5.7 pp | Sep 2023 −4.5 pp | Dec 2023 +0.3 pp | Mar 2024 — | Jun 2024 +1.3 pp | Sep 2024 +2.2 pp | Dec 2024 +1.4 pp | Mar 2025 +0.1 pp | Jun 2025 −0.2 pp | Sep 2025 0.0 pp | Dec 2025 −0.6 pp | Mar 2026 +0.3 pp | Jun 2026 — - ONTO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.7 pp | Dec 2022 — | Mar 2023 — | Jun 2023 −2.2 pp | Sep 2023 −2.3 pp | Dec 2023 −2.2 pp | Mar 2024 — | Jun 2024 +1.0 pp | Sep 2024 +1.4 pp | Dec 2024 +0.6 pp | Mar 2025 +0.9 pp | Jun 2025 −1.1 pp | Sep 2025 −1.7 pp | Dec 2025 — | Mar 2026 −2.7 pp | Jun 2026 — - AMKR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +1.7 pp | Dec 2022 −1.6 pp | Mar 2023 −3.6 pp | Jun 2023 −1.8 pp | Sep 2023 −3.8 pp | Dec 2023 −1.7 pp | Mar 2024 0.0 pp | Jun 2024 0.0 pp | Sep 2024 −0.5 pp | Dec 2024 −0.5 pp | Mar 2025 −0.8 pp | Jun 2025 0.0 pp | Sep 2025 0.0 pp | Dec 2025 +0.6 pp | Mar 2026 +1.1 pp | Jun 2026 +1.4 pp - NVMI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −2.0 pp | Dec 2022 0.0 pp | Mar 2023 −1.4 pp | Jun 2023 −2.1 pp | Sep 2023 −1.7 pp | Dec 2023 −1.3 pp | Mar 2024 −0.6 pp | Jun 2024 +1.8 pp | Sep 2024 +1.4 pp | Dec 2024 +2.0 pp | Mar 2025 +2.3 pp | Jun 2025 +0.7 pp | Sep 2025 −1.4 pp | Dec 2025 −2.2 pp | Mar 2026 −1.0 pp | Jun 2026 — - FORM: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −2.4 pp | Dec 2022 −5.6 pp | Mar 2023 — | Jun 2023 −3.8 pp | Sep 2023 −0.6 pp | Dec 2023 +10.7 pp | Mar 2024 — | Jun 2024 +1.9 pp | Sep 2024 +2.0 pp | Dec 2024 −8.1 pp | Mar 2025 −2.0 pp | Jun 2025 −0.7 pp | Sep 2025 −0.2 pp | Dec 2025 +1.4 pp | Mar 2026 +1.2 pp | Jun 2026 +4.0 pp - CAMT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −4.3 pp | Dec 2022 −1.5 pp | Mar 2023 −2.6 pp | Jun 2023 −2.7 pp | Sep 2023 −1.8 pp | Dec 2023 −1.1 pp | Mar 2024 +0.9 pp | Jun 2024 +1.4 pp | Sep 2024 +1.2 pp | Dec 2024 +1.6 pp | Mar 2025 +1.1 pp | Jun 2025 +0.3 pp | Sep 2025 −0.8 pp | Dec 2025 −1.0 pp | Mar 2026 −1.8 pp | Jun 2026 — - ACMR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.9 pp | Dec 2022 −1.5 pp | Mar 2023 +2.7 pp | Jun 2023 −0.1 pp | Sep 2023 −2.1 pp | Dec 2023 +0.6 pp | Mar 2024 +1.7 pp | Jun 2024 +0.3 pp | Sep 2024 +0.4 pp | Dec 2024 +1.4 pp | Mar 2025 −0.5 pp | Jun 2025 −1.3 pp | Sep 2025 −2.4 pp | Dec 2025 −2.6 pp | Mar 2026 −0.2 pp | Jun 2026 — - KLIC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −9.2 pp | Mar 2023 — | Jun 2023 −10.3 pp | Sep 2023 −10.2 pp | Dec 2023 −5.1 pp | Mar 2024 — | Jun 2024 −0.3 pp | Sep 2024 +0.5 pp | Dec 2024 +7.2 pp | Mar 2025 +0.4 pp | Jun 2025 −1.3 pp | Sep 2025 — | Dec 2025 −7.2 pp | Mar 2026 +9.9 pp | Jun 2026 +4.6 pp - ACLS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +1.8 pp | Dec 2022 +0.1 pp | Mar 2023 −1.2 pp | Jun 2023 −0.6 pp | Sep 2023 +0.3 pp | Dec 2023 +0.8 pp | Mar 2024 −1.0 pp | Jun 2024 −2.8 pp | Sep 2024 −4.1 pp | Dec 2024 −3.9 pp | Mar 2025 −3.4 pp | Jun 2025 −2.9 pp | Sep 2025 −2.4 pp | Dec 2025 −2.0 pp | Mar 2026 −2.0 pp | Jun 2026 — - AXTI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.6 pp | Dec 2022 −1.4 pp | Mar 2023 −2.8 pp | Jun 2023 −4.3 pp | Sep 2023 −4.0 pp | Dec 2023 −0.9 pp | Mar 2024 +0.3 pp | Jun 2024 +1.7 pp | Sep 2024 +1.2 pp | Dec 2024 −1.1 pp | Mar 2025 −2.6 pp | Jun 2025 −1.9 pp | Sep 2025 +0.8 pp | Dec 2025 +1.0 pp | Mar 2026 +3.3 pp | Jun 2026 +4.3 pp - IPGP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.3 pp | Dec 2022 −7.1 pp | Mar 2023 −0.4 pp | Jun 2023 +0.2 pp | Sep 2023 −1.2 pp | Dec 2023 +5.4 pp | Mar 2024 −2.1 pp | Jun 2024 −2.3 pp | Sep 2024 −13.2 pp | Dec 2024 −0.7 pp | Mar 2025 −0.7 pp | Jun 2025 −0.5 pp | Sep 2025 +11.4 pp | Dec 2025 −0.4 pp | Mar 2026 −0.5 pp | Jun 2026 — - UCTT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −4.7 pp | Dec 2022 −2.3 pp | Mar 2023 — | Jun 2023 −2.8 pp | Sep 2023 +0.8 pp | Dec 2023 −2.5 pp | Mar 2024 +0.3 pp | Jun 2024 +0.7 pp | Sep 2024 +1.2 pp | Dec 2024 +1.3 pp | Mar 2025 −0.3 pp | Jun 2025 −10.9 pp | Sep 2025 −0.9 pp | Dec 2025 −0.9 pp | Mar 2026 −0.1 pp | Jun 2026 — - AMBA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 −3.3 pp | Mar 2023 −1.6 pp | Jun 2023 −3.9 pp | Sep 2023 −2.2 pp | Dec 2023 −3.4 pp | Mar 2024 −3.0 pp | Jun 2024 −0.8 pp | Sep 2024 −0.3 pp | Dec 2024 +2.5 pp | Mar 2025 +2.5 pp | Jun 2025 +2.1 pp | Sep 2025 +2.2 pp | Dec 2025 +1.6 pp | Mar 2026 +1.3 pp | Jun 2026 +1.3 pp - AEHR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +8.1 pp | Dec 2022 +4.5 pp | Mar 2023 −1.7 pp | Jun 2023 −9.7 pp | Sep 2023 +4.6 pp | Dec 2023 +0.2 pp | Mar 2024 −8.7 pp | Jun 2024 −5.9 pp | Sep 2024 −5.9 pp | Dec 2024 −8.7 pp | Mar 2025 +1.4 pp | Jun 2025 −5.2 pp | Sep 2025 −3.2 pp | Dec 2025 −2.0 pp | Mar 2026 −2.0 pp | Jun 2026 +1.9 pp - VECO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.2 pp | Dec 2022 −0.7 pp | Mar 2023 −1.0 pp | Jun 2023 −0.1 pp | Sep 2023 +0.3 pp | Dec 2023 +0.9 pp | Mar 2024 +1.1 pp | Jun 2024 +0.1 pp | Sep 2024 −0.2 pp | Dec 2024 +0.5 pp | Mar 2025 −1.0 pp | Jun 2025 −0.5 pp | Sep 2025 −1.4 pp | Dec 2025 −2.4 pp | Mar 2026 −1.5 pp | Jun 2026 — - ICHR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.5 pp | Dec 2022 −0.2 pp | Mar 2023 — | Jun 2023 −1.8 pp | Sep 2023 −3.8 pp | Dec 2023 −3.0 pp | Mar 2024 −0.9 pp | Jun 2024 0.0 pp | Sep 2024 +0.5 pp | Dec 2024 +0.8 pp | Mar 2025 +0.3 pp | Jun 2025 −0.3 pp | Sep 2025 −2.3 pp | Dec 2025 −1.6 pp | Mar 2026 +0.3 pp | Jun 2026 — - COHU: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −0.2 pp | Dec 2022 −0.2 pp | Mar 2023 — | Jun 2023 −1.6 pp | Sep 2023 −1.7 pp | Dec 2023 −2.6 pp | Mar 2024 — | Jun 2024 −3.5 pp | Sep 2024 −3.1 pp | Dec 2024 −2.2 pp | Mar 2025 −1.1 pp | Jun 2025 −0.2 pp | Sep 2025 +0.6 pp | Dec 2025 +0.7 pp | Mar 2026 +1.8 pp | Jun 2026 +1.8 pp - PLAB: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 +2.3 pp | Mar 2023 +1.3 pp | Jun 2023 +1.2 pp | Sep 2023 −0.3 pp | Dec 2023 −0.1 pp | Mar 2024 −0.3 pp | Jun 2024 −1.4 pp | Sep 2024 −1.5 pp | Dec 2024 −1.4 pp | Mar 2025 −0.9 pp | Jun 2025 −0.4 pp | Sep 2025 −0.6 pp | Dec 2025 −0.6 pp | Mar 2026 −0.1 pp | Jun 2026 −1.2 pp - DQ: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −8.4 pp | Dec 2022 +0.7 pp | Mar 2023 −26.2 pp | Jun 2023 −23.1 pp | Sep 2023 −15.8 pp | Dec 2023 −11.7 pp | Mar 2024 −8.2 pp | Jun 2024 −6.5 pp | Sep 2024 −1.9 pp | Dec 2024 −6.0 pp | Mar 2025 −2.2 pp | Jun 2025 +1.1 pp | Sep 2025 +1.2 pp | Dec 2025 +4.4 pp | Mar 2026 −0.8 pp | Jun 2026 — - ASYS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +2.4 pp | Dec 2022 −3.9 pp | Mar 2023 −2.1 pp | Jun 2023 −10.2 pp | Sep 2023 −14.4 pp | Dec 2023 −6.0 pp | Mar 2024 +0.8 pp | Jun 2024 +1.7 pp | Sep 2024 +10.7 pp | Dec 2024 +8.9 pp | Mar 2025 −41.5 pp | Jun 2025 +0.4 pp | Sep 2025 +2.1 pp | Dec 2025 +0.6 pp | Mar 2026 +42.7 pp | Jun 2026 — - ATOM: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −1.4 pp | Dec 2022 −4.0 pp | Mar 2023 −9.1 pp | Jun 2023 −6.1 pp | Sep 2023 −7.4 pp | Dec 2023 −6.4 pp | Mar 2024 −4.4 pp | Jun 2024 −0.1 pp | Sep 2024 −2.7 pp | Dec 2024 +0.5 pp | Mar 2025 +0.1 pp | Jun 2025 −5.6 pp | Sep 2025 −7.6 pp | Dec 2025 +0.6 pp | Mar 2026 +5.7 pp | Jun 2026 — - INTT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.1 pp | Dec 2022 +4.6 pp | Mar 2023 +3.1 pp | Jun 2023 −0.4 pp | Sep 2023 −1.9 pp | Dec 2023 −3.9 pp | Mar 2024 −3.8 pp | Jun 2024 −3.3 pp | Sep 2024 −2.2 pp | Dec 2024 +0.7 pp | Mar 2025 −2.9 pp | Jun 2025 −1.1 pp | Sep 2025 −1.4 pp | Dec 2025 −0.7 pp | Mar 2026 +3.2 pp | Jun 2026 — ## Valuation Against Growth & Quality What the numbers say: Photronics, Inc. has the lowest comparable PEG at 0.43×, 33.8% below Veeco Instruments Inc.. Only 10 of 29 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree. Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy. This conclusion weakens if: The next two comparable reports reverse the current p/e signal. Evidence: Photronics, Inc. · 0.43× | 33.8% versus #2 · Veeco Instruments Inc. | 0/8 recent comparable periods | 10/29 companies · 82 observations Definition: PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing. ### PEG — lowest PEG 1. Photronics, Inc. (PLAB): 0.4 2. Veeco Instruments Inc. (VECO): 0.7 3. IPG Photonics Corporation (IPGP): 0.7 4. ACM Research, Inc. (ACMR): 0.8 5. Camtek Ltd. (CAMT): 0.8 ### P/E — lowest P/E 1. Aehr Test Systems, Inc. (AEHR): 12.4 2. Daqo New Energy Corp. (DQ): 12.5 3. Photronics, Inc. (PLAB): 18.2 4. Axcelis Technologies, Inc. (ACLS): 29.0 5. ACM Research, Inc. (ACMR): 30.0 ### 20-quarter PEG history - ASML: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 1.1 | Jun 2025 0.7 | Sep 2025 0.8 | Dec 2025 1.2 | Mar 2026 2.6 | Jun 2026 4.3 - AMAT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 1.8 | Mar 2024 1.4 | Jun 2024 1.6 | Sep 2024 1.3 | Dec 2024 3.5 | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 1.2 | Jun 2026 1.3 - LRCX: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 1.2 | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 0.8 | Mar 2025 0.6 | Jun 2025 0.5 | Sep 2025 0.6 | Dec 2025 0.8 | Mar 2026 0.8 | Jun 2026 — - KLAC: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 0.9 | Jun 2023 2.0 | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 1.3 | Mar 2025 0.6 | Jun 2025 0.6 | Sep 2025 0.7 | Dec 2025 0.8 | Mar 2026 1.5 | Jun 2026 — - TER: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 0.5 | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 1.0 | Jun 2026 — - ENTG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 1.9 | Dec 2025 — | Mar 2026 — | Jun 2026 — - ONTO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 0.9 | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — - AMKR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 4.7 | Mar 2026 0.7 | Jun 2026 — - NVMI: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 1.0 | Jun 2023 2.7 | Sep 2023 3.9 | Dec 2023 — | Mar 2024 — | Jun 2024 4.0 | Sep 2024 1.5 | Dec 2024 1.0 | Mar 2025 0.5 | Jun 2025 0.7 | Sep 2025 1.0 | Dec 2025 1.0 | Mar 2026 2.6 | Jun 2026 — - FORM: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 4.3 | Jun 2026 — - CAMT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 1.2 | Jun 2023 2.3 | Sep 2023 3.8 | Dec 2023 — | Mar 2024 6.0 | Jun 2024 3.0 | Sep 2024 1.2 | Dec 2024 0.7 | Mar 2025 0.5 | Jun 2025 0.8 | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — - ACMR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 0.8 | Sep 2024 0.7 | Dec 2024 0.3 | Mar 2025 0.8 | Jun 2025 0.5 | Sep 2025 0.8 | Dec 2025 — | Mar 2026 — | Jun 2026 — - ACLS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 0.4 | Jun 2023 0.7 | Sep 2023 0.5 | Dec 2023 0.5 | Mar 2024 0.4 | Jun 2024 1.2 | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — - IPGP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 0.7 | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — - AEHR: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 1.4 | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 0.3 | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — - VECO: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 1.7 | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 0.7 | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — - PLAB: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 0.2 | Sep 2023 0.9 | Dec 2023 1.8 | Mar 2024 0.6 | Jun 2024 1.5 | Sep 2024 0.6 | Dec 2024 — | Mar 2025 1.7 | Jun 2025 — | Sep 2025 — | Dec 2025 1.1 | Mar 2026 — | Jun 2026 0.4 - DQ: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 0.1 | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — ### 20-quarter P/E history - ASML: Sep 2021 — | Dec 2021 48.4 | Mar 2022 — | Jun 2022 46.9 | Sep 2022 31.0 | Dec 2022 30.4 | Mar 2023 — | Jun 2023 36.0 | Sep 2023 35.4 | Dec 2023 28.8 | Mar 2024 49.8 | Jun 2024 55.7 | Sep 2024 42.5 | Dec 2024 31.4 | Mar 2025 27.7 | Jun 2025 28.3 | Sep 2025 34.0 | Dec 2025 34.7 | Mar 2026 44.1 | Jun 2026 63.3 - AMAT: Sep 2021 — | Dec 2021 21.4 | Mar 2022 18.4 | Jun 2022 14.7 | Sep 2022 14.2 | Dec 2022 12.1 | Mar 2023 15.1 | Jun 2023 14.9 | Sep 2023 20.0 | Dec 2023 16.2 | Mar 2024 19.6 | Jun 2024 23.4 | Sep 2024 23.2 | Dec 2024 21.7 | Mar 2025 24.4 | Jun 2025 18.4 | Sep 2025 22.1 | Dec 2025 26.4 | Mar 2026 33.0 | Jun 2026 39.2 - LRCX: Sep 2021 20.7 | Dec 2021 21.8 | Mar 2022 17.3 | Jun 2022 13.8 | Sep 2022 10.9 | Dec 2022 11.1 | Mar 2023 14.7 | Jun 2023 19.3 | Sep 2023 20.6 | Dec 2023 29.6 | Mar 2024 35.2 | Jun 2024 36.7 | Sep 2024 26.8 | Dec 2024 22.3 | Mar 2025 20.2 | Jun 2025 23.4 | Sep 2025 28.3 | Dec 2025 36.5 | Mar 2026 39.9 | Jun 2026 65.8 - KLAC: Sep 2021 19.0 | Dec 2021 22.2 | Mar 2022 17.8 | Jun 2022 14.6 | Sep 2022 13.7 | Dec 2022 15.5 | Mar 2023 16.3 | Jun 2023 20.1 | Sep 2023 20.6 | Dec 2023 29.5 | Mar 2024 36.6 | Jun 2024 40.7 | Sep 2024 35.4 | Dec 2024 26.5 | Mar 2025 24.7 | Jun 2025 29.5 | Sep 2025 33.8 | Dec 2025 35.3 | Mar 2026 41.6 | Jun 2026 82.4 - TER: Sep 2021 — | Dec 2021 20.6 | Mar 2022 — | Jun 2022 21.8 | Sep 2022 18.1 | Dec 2022 16.9 | Mar 2023 — | Jun 2023 28.3 | Sep 2023 33.0 | Dec 2023 32.9 | Mar 2024 42.9 | Jun 2024 48.8 | Sep 2024 42.7 | Dec 2024 37.9 | Mar 2025 23.4 | Jun 2025 31.3 | Sep 2025 49.2 | Dec 2025 55.8 | Mar 2026 54.7 | Jun 2026 59.9 - Q: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 24.7 | Mar 2026 45.3 | Jun 2026 — - ENTG: Sep 2021 — | Dec 2021 45.2 | Mar 2022 — | Jun 2022 38.0 | Sep 2022 26.2 | Dec 2022 41.1 | Mar 2023 — | Jun 2023 4,100.5 | Sep 2023 184.7 | Dec 2023 99.9 | Mar 2024 67.6 | Jun 2024 111.0 | Sep 2024 76.1 | Dec 2024 51.3 | Mar 2025 42.9 | Jun 2025 42.5 | Sep 2025 48.6 | Dec 2025 54.4 | Mar 2026 67.0 | Jun 2026 — - ONTO: Sep 2021 32.8 | Dec 2021 — | Mar 2022 35.4 | Jun 2022 24.6 | Sep 2022 16.5 | Dec 2022 15.7 | Mar 2023 — | Jun 2023 21.9 | Sep 2023 33.2 | Dec 2023 62.2 | Mar 2024 64.4 | Jun 2024 65.5 | Sep 2024 58.4 | Dec 2024 42.0 | Mar 2025 27.6 | Jun 2025 24.5 | Sep 2025 36.0 | Dec 2025 — | Mar 2026 59.7 | Jun 2026 — - AMKR: Sep 2021 11.0 | Dec 2021 9.5 | Mar 2022 7.7 | Jun 2022 6.0 | Sep 2022 5.1 | Dec 2022 7.7 | Mar 2023 10.0 | Jun 2023 12.7 | Sep 2023 13.7 | Dec 2023 22.8 | Mar 2024 21.2 | Jun 2024 26.2 | Sep 2024 20.7 | Dec 2024 18.0 | Mar 2025 14.1 | Jun 2025 17.1 | Sep 2025 22.7 | Dec 2025 26.3 | Mar 2026 25.7 | Jun 2026 38.7 - NVMI: Sep 2021 35.8 | Dec 2021 47.0 | Mar 2022 30.3 | Jun 2022 22.6 | Sep 2022 21.4 | Dec 2022 18.4 | Mar 2023 23.5 | Jun 2023 27.3 | Sep 2023 26.4 | Dec 2023 32.1 | Mar 2024 40.7 | Jun 2024 48.7 | Sep 2024 38.9 | Dec 2024 34.3 | Mar 2025 27.8 | Jun 2025 37.4 | Sep 2025 41.8 | Dec 2025 41.3 | Mar 2026 54.2 | Jun 2026 — - FORM: Sep 2021 41.2 | Dec 2021 42.0 | Mar 2022 36.0 | Jun 2022 29.3 | Sep 2022 22.8 | Dec 2022 34.2 | Mar 2023 — | Jun 2023 113.8 | Sep 2023 — | Dec 2023 39.7 | Mar 2024 34.6 | Jun 2024 38.8 | Sep 2024 26.6 | Dec 2024 51.6 | Mar 2025 41.5 | Jun 2025 62.3 | Sep 2025 67.9 | Dec 2025 84.1 | Mar 2026 112.6 | Jun 2026 89.6 - CAMT: Sep 2021 32.7 | Dec 2021 34.4 | Mar 2022 21.3 | Jun 2022 16.8 | Sep 2022 15.5 | Dec 2022 13.1 | Mar 2023 17.3 | Jun 2023 22.0 | Sep 2023 37.7 | Dec 2023 42.6 | Mar 2024 47.3 | Jun 2024 63.9 | Sep 2024 37.0 | Dec 2024 33.4 | Mar 2025 22.6 | Jun 2025 31.1 | Sep 2025 116.7 | Dec 2025 102.3 | Mar 2026 174.3 | Jun 2026 — - ACMR: Sep 2021 79.7 | Dec 2021 49.0 | Mar 2022 54.5 | Jun 2022 36.6 | Sep 2022 19.8 | Dec 2022 13.1 | Mar 2023 14.8 | Jun 2023 12.8 | Sep 2023 16.6 | Dec 2023 16.8 | Mar 2024 22.1 | Jun 2024 18.3 | Sep 2024 15.4 | Dec 2024 9.9 | Mar 2025 15.0 | Jun 2025 15.7 | Sep 2025 22.8 | Dec 2025 28.8 | Mar 2026 30.0 | Jun 2026 — - KLIC: Sep 2021 — | Dec 2021 10.2 | Mar 2022 8.5 | Jun 2022 7.0 | Sep 2022 4.8 | Dec 2022 5.4 | Mar 2023 — | Jun 2023 14.6 | Sep 2023 35.4 | Dec 2023 60.8 | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 398.0 | Mar 2025 91.8 | Jun 2025 434.4 | Sep 2025 — | Dec 2025 10,085.0 | Mar 2026 — | Jun 2026 61.6 - ACLS: Sep 2021 20.7 | Dec 2021 25.9 | Mar 2022 20.8 | Jun 2022 12.5 | Sep 2022 12.6 | Dec 2022 14.5 | Mar 2023 23.5 | Jun 2023 29.5 | Sep 2023 23.3 | Dec 2023 17.5 | Mar 2024 14.7 | Jun 2024 19.6 | Sep 2024 15.5 | Dec 2024 11.4 | Mar 2025 9.1 | Jun 2025 14.3 | Sep 2025 23.1 | Dec 2025 21.1 | Mar 2026 29.0 | Jun 2026 — - AXTI: Sep 2021 26.0 | Dec 2021 25.9 | Mar 2022 21.3 | Jun 2022 16.3 | Sep 2022 16.8 | Dec 2022 11.8 | Mar 2023 19.0 | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 3,604.0 - IPGP: Sep 2021 32.5 | Dec 2021 33.4 | Mar 2022 21.1 | Jun 2022 18.8 | Sep 2022 16.6 | Dec 2022 43.8 | Mar 2023 64.2 | Jun 2023 63.8 | Sep 2023 55.8 | Dec 2023 23.4 | Mar 2024 23.4 | Jun 2024 27.9 | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 129.8 | Dec 2025 98.1 | Mar 2026 166.1 | Jun 2026 — - UCTT: Sep 2021 20.8 | Dec 2021 21.3 | Mar 2022 — | Jun 2022 15.0 | Sep 2022 15.4 | Dec 2022 37.7 | Mar 2023 — | Jun 2023 174.8 | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 502.0 | Dec 2024 70.3 | Mar 2025 35.5 | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — - AEHR: Sep 2021 — | Dec 2021 348.4 | Mar 2022 85.0 | Jun 2022 24.7 | Sep 2022 44.1 | Dec 2022 60.6 | Mar 2023 68.1 | Jun 2023 66.0 | Sep 2023 79.7 | Dec 2023 32.3 | Mar 2024 31.3 | Jun 2024 10.3 | Sep 2024 15.5 | Dec 2024 15.9 | Mar 2025 12.4 | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — - VECO: Sep 2021 65.3 | Dec 2021 58.1 | Mar 2022 40.0 | Jun 2022 26.2 | Sep 2022 21.8 | Dec 2022 6.9 | Mar 2023 8.1 | Jun 2023 30.9 | Sep 2023 28.7 | Dec 2023 — | Mar 2024 — | Jun 2024 33.1 | Sep 2024 24.5 | Dec 2024 21.8 | Mar 2025 18.8 | Jun 2025 19.9 | Sep 2025 36.7 | Dec 2025 48.4 | Mar 2026 89.1 | Jun 2026 — - ICHR: Sep 2021 16.2 | Dec 2021 18.8 | Mar 2022 — | Jun 2022 15.4 | Sep 2022 10.3 | Dec 2022 10.7 | Mar 2023 14.7 | Jun 2023 48.1 | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — - COHU: Sep 2021 9.9 | Dec 2021 11.0 | Mar 2022 9.5 | Jun 2022 14.4 | Sep 2022 13.3 | Dec 2022 16.2 | Mar 2023 — | Jun 2023 20.4 | Sep 2023 27.5 | Dec 2023 60.0 | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — - PLAB: Sep 2021 — | Dec 2021 14.6 | Mar 2022 15.0 | Jun 2022 10.4 | Sep 2022 14.3 | Dec 2022 8.4 | Mar 2023 10.5 | Jun 2023 7.3 | Sep 2023 13.7 | Dec 2023 9.0 | Mar 2024 13.7 | Jun 2024 13.1 | Sep 2024 11.3 | Dec 2024 10.9 | Mar 2025 9.7 | Jun 2025 10.0 | Sep 2025 11.1 | Dec 2025 10.5 | Mar 2026 14.7 | Jun 2026 18.2 - DQ: Sep 2021 6.4 | Dec 2021 4.1 | Mar 2022 2.6 | Jun 2022 3.4 | Sep 2022 2.5 | Dec 2022 1.7 | Mar 2023 2.3 | Jun 2023 3.0 | Sep 2023 3.3 | Dec 2023 4.6 | Mar 2024 12.5 | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 — - ASYS: Sep 2021 103.9 | Dec 2021 76.0 | Mar 2022 34.7 | Jun 2022 7.4 | Sep 2022 7.0 | Dec 2022 7.8 | Mar 2023 9.0 | Jun 2023 36.8 | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 68.1 | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 68.7 | Jun 2026 — - INTT: Sep 2021 18.8 | Dec 2021 18.7 | Mar 2022 20.6 | Jun 2022 14.2 | Sep 2022 15.0 | Dec 2022 13.2 | Mar 2023 21.2 | Jun 2023 25.8 | Sep 2023 15.5 | Dec 2023 17.2 | Mar 2024 22.1 | Jun 2024 26.0 | Sep 2024 31.7 | Dec 2024 35.8 | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 341.3 | Jun 2026 — ## What can make this comparison misleading? - A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason. - A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment. - The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed. - An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion. ## Every company - ASML Holding N.V. (ASML) — market value ₹6.5 L Cr; latest fundamentals Jun 2026 - Applied Materials, Inc. (AMAT) — market value ₹4.3 L Cr; latest fundamentals Jun 2026 - Lam Research Corporation (LRCX) — market value ₹4.0 L Cr; latest fundamentals Jun 2026 - KLA Corporation (KLAC) — market value ₹2.6 L Cr; latest fundamentals Jun 2026 - Teradyne, Inc. (TER) — market value ₹63.1K Cr; latest fundamentals Jun 2026 - Qnity Electronics, Inc. (Q) — market value ₹29.6K Cr; latest fundamentals Mar 2026 - Entegris, Inc. (ENTG) — market value ₹22.0K Cr; latest fundamentals Mar 2026 - Onto Innovation Inc. (ONTO) — market value ₹14.3K Cr; latest fundamentals Mar 2026 - Amkor Technology, Inc. (AMKR) — market value ₹13.9K Cr; latest fundamentals Jun 2026 - Nova Ltd. (NVMI) — market value ₹13.1K Cr; latest fundamentals Mar 2026 - FormFactor, Inc. (FORM) — market value ₹9.4K Cr; latest fundamentals Jun 2026 - Camtek Ltd. (CAMT) — market value ₹7.0K Cr; latest fundamentals Mar 2026 - ACM Research, Inc. (ACMR) — market value ₹5.7K Cr; latest fundamentals Mar 2026 - Kulicke and Soffa Industries, Inc. (KLIC) — market value ₹4.9K Cr; latest fundamentals Jun 2026 - Axcelis Technologies, Inc. (ACLS) — market value ₹4.3K Cr; latest fundamentals Mar 2026 - AXT, Inc. (AXTI) — market value ₹4.2K Cr; latest fundamentals Jun 2026 - IPG Photonics Corporation (IPGP) — market value ₹4.0K Cr; latest fundamentals Mar 2026 - Ultra Clean Holdings, Inc. (UCTT) — market value ₹3.8K Cr; latest fundamentals Mar 2026 - Ambarella, Inc. (AMBA) — market value ₹3.6K Cr; latest fundamentals Jun 2026 - Aehr Test Systems, Inc. (AEHR) — market value ₹3.6K Cr; latest fundamentals Jun 2026 - Veeco Instruments Inc. (VECO) — market value ₹3.3K Cr; latest fundamentals Mar 2026 - Ichor Holdings, Ltd. (ICHR) — market value ₹2.7K Cr; latest fundamentals Mar 2026 - Cohu, Inc. (COHU) — market value ₹2.5K Cr; latest fundamentals Jun 2026 - Photronics, Inc. (PLAB) — market value ₹1.9K Cr; latest fundamentals Jun 2026 - Daqo New Energy Corp. (DQ) — market value ₹907 Cr; latest fundamentals Mar 2026 - Amtech Systems, Inc. (ASYS) — market value ₹305 Cr; latest fundamentals Mar 2026 - Atomera Incorporated (ATOM) — market value ₹219 Cr; latest fundamentals Mar 2026 - InTest Corporation (INTT) — market value ₹179 Cr; latest fundamentals Mar 2026 - Trio-Tech International (TRT) — market value ₹98 Cr; latest fundamentals unavailable ## Methodology and freshness Fundamentals through Jun 2026; prices through 2026-08-04. Up to 20 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable. ## Frequently asked questions ### Is the Semiconductor Equipment & Materials sector outperforming S&P 500? Semiconductor Equipment & Materials has outperformed S&P 500 by 157.8% over 52 weeks and 9.6% over 13 weeks. 23 of 28 covered companies beat the S&P 500 on Mansfield relative strength, while 10 of 28 beat the sector itself. ### Which Semiconductor Equipment & Materials company is largest by revenue? ASML Holding N.V. leads with revenue of $35,328 million, based on 17 of 29 comparable companies through Jun 2026. ### Which Semiconductor Equipment & Materials company is growing fastest? Ambarella, Inc. has the fastest current revenue growth at 27.8%, across 16 of 29 comparable companies. ### Which Semiconductor Equipment & Materials company has the strongest 4-Factor Sector Score? Teradyne, Inc. ranks first at 69.6/100 with 57.8% evidence confidence. The score prioritizes research; it is not a buy recommendation. ### Which Semiconductor Equipment & Materials company has the lowest comparable PEG? Photronics, Inc. has the lowest comparable PEG at 0.43, among 10 of 29 companies whose earnings and growth are steady enough for the ratio to mean anything. ### How much history does this Semiconductor Equipment & Materials comparison include? The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated. ### How is the 4-Factor Sector Score calculated? The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral. ### Which Semiconductor Equipment & Materials company is the biggest? ASML Holding N.V. is the largest, with trailing-twelve-month revenue of $35,328 million, ahead of Applied Materials, Inc. at $29,024 million. That covers 17 of 29 companies with comparable reporting through Jun 2026. ### Which Semiconductor Equipment & Materials company has the best profit margins? KLA Corporation has the highest operating margin at 41.2%, from 27 of 29 comparable companies. Atomera Incorporated shows the biggest recent improvement, at +79084.1 percentage points. A high margin matters most when it is holding or rising, not when it is peaking. ### Which Semiconductor Equipment & Materials company makes the most profit? ASML Holding N.V. earns the most, at $10,399 million of trailing-twelve-month net profit, from 18 of 29 comparable companies. Applied Materials, Inc. has the fastest profit growth at 25.9%, though growth off a small or recovering profit base overstates how much has actually changed. ### Which Semiconductor Equipment & Materials company earns the highest return on capital? Lam Research Corporation leads on return on capital employed at 15.5%, across 28 of 29 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year. ### Which Semiconductor Equipment & Materials stock is the cheapest? On PEG — where a LOWER number is cheaper — Photronics, Inc. screens cheapest at 0.43×. Only 10 of 29 companies have earnings and growth steady enough for the ratio to mean anything, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own. ### Is the Semiconductor Equipment & Materials sector beating the market? Semiconductor Equipment & Materials has outperformed S&P 500 by 157.8% over the last 52 weeks and 9.6% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 23 of 28 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it. ### Which Semiconductor Equipment & Materials stock has the strongest price momentum? Aehr Test Systems, Inc. has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all. ### Which Semiconductor Equipment & Materials company scores highest for research priority? Teradyne, Inc. scores 69.6 out of 100 with 57.8% evidence confidence, from 24.3 points on growth and earnings, 18.4 on capital efficiency, 10.1 on valuation and 16.8 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research. ### How many Semiconductor Equipment & Materials companies does this comparison cover, and over what period? It compares 29 listed companies over up to 20 reported quarters of fundamentals, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data. ### What is the total market cap of the Semiconductor Equipment & Materials sector? The 29 Semiconductor Equipment & Materials companies on this page carry $1,956,813 million of combined market value. ASML Holding N.V. is the largest at $651,335 million, about 33% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-04. ### What is the Semiconductor Equipment & Materials sector's P/E ratio? The median price-to-earnings ratio across the 29 Semiconductor Equipment & Materials companies on this page is 60×, measured on the 26 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-08-04. ### How is the Semiconductor Equipment & Materials sector performing? 23 of the 28 covered Semiconductor Equipment & Materials companies are beating S&P 500 on Mansfield relative strength. The sector itself is 157.8% ahead of S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-04. ### How many Semiconductor Equipment & Materials stocks are listed in the US? This comparison covers 29 listed Semiconductor Equipment & Materials companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Jun 2026. Membership is the full industry list — nothing is dropped for having thin data. ### Why are some values on this page blank? A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad. ### Is this investment advice? No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.