Valuation Trading Multiples & Precedent Transactions: Semiconductor Equipment and Materials Companies
Valuation benchmarks for Semiconductor Equipment and Materials Companies. Access public trading comps, EV/EBITDA acquisition multiples, and private market data for pitch books and valuation analysis.
1.1 - Semiconductor Equipment and Materials Companies Market Context & Valuation Drivers
Companies in this public trading comparables group design and supply semiconductor manufacturing equipment, process materials, consumables, test systems, and related design tools. Their business models span capital equipment sales, recurring consumables and service revenue, and software licenses with maintenance. They are comparable for valuation because demand is tied to wafer-fab capital cycles, installed-base utilization, and pull-through of materials and services that drive predictable gross margins and cash flows.
Typical capabilities include wafer processing tools such as spin coaters/developers, wet benches, spray systems, and CMP equipment for planarization. Vendors provide advanced packaging handlers and power semiconductor testers, automated test equipment, and inspection solutions. Materials providers supply CMP slurries, barrier chemistries, ultra‑high‑purity metals, and sputtering targets, alongside ceramic and semiconductor packaging. Some participants offer EDA software for layout, parasitic extraction, and power integrity analysis, plus field service, metrology, and process integration support.
Primary customers include semiconductor foundries and IDMs, OSATs and test houses, and fabless design firms engaged in advanced node and power device production. Outcomes valued by buyers and investors include yield improvement, throughput and cycle-time gains, and device reliability. Key valuation benchmarks encompass revenue growth versus WFE cycles, book‑to‑bill ratios, gross margin profile, recurring consumables and service mix, installed‑base penetration, and, for software, ARR growth and retention.
2. Valuation Analysis: Public Trading Comps & Multiples for Semiconductor Equipment and Materials Companies companies
2.1 - Public Peer Groups & Median Valuation Multiples for Semiconductor Equipment and Materials Companies sector
Comparable group 1: Semiconductor Equipment and Materials Companies
Empyrean Technology
- Enterprise value: $●●●m
- Market Cap: $●●●m
- EV/Revenue: ●.●x
- EV/EBITDA: ●●.●x
- Description: Provider of electronic design automation tools for the semiconductor industry, offering solutions for schematic and layout design, power integrity analysis, parasitic analysis, IC design verification, and timing simulation to enhance the reliability and performance of semiconductor products.
- Key Products:
- Empyrean Aether: Schematic and layout design environment for creating semiconductor designs
- Empyrean Patron: Transistor-level power integrity analysis including EM/IR effects
- Empyrean Ada: Layout parasitic extraction and analysis for accurate modeling
- Empyrean Polas: Power IC analysis for enhancing reliability
- Empyrean ICExplorer-XTime: Timing simulation and analysis for semiconductor devices.
BOCHU Electronic
- Enterprise value: $●●●m
- Market Cap: $●●●m
- EV/Revenue: ●.●x
- EV/EBITDA: ●●.●x
- Description: Provider of laser cutting control systems and automation products, offering advanced solutions for industrial cutting applications, including 2D and 3D control systems and intelligent welding technologies.
- Key Products:
- 2D Cutting Control: High-precision control systems for 2D laser cutting applications
- Tube Cutting Control: Specialized systems for complex tube cutting tasks
- 3D Cutting Solutions: Advanced 3D cutting controllers for varied industrial uses
- Intelligent Welding: Automation systems for precise welding operations without manual teaching
- Industrial Automation: Comprehensive automation products enhancing manufacturing efficiency