Ultra Clean Holdings
29 named things its latest annual report says its results depend on, each in the company's own words. 15 of them are also named by other companies we've read.
Customers
Applied Materials, Inc.
earns from · more than 10% of our total revenuesnamed as a riskOur two largest revenue customers in fiscal years 2025, 2024 and 2023 were Applied Materials, Inc. and Lam Research Corporation, each of which accounted for more than 10% of our total revenues in those three years.Business (Item 1)
Top two customers (Applied Materials and Lam Research)
concentrated in · 58.7%named as a riskOur top two customers accounted for 58.7%, 54.5% and 57.4% of our revenues for fiscal years 2025, 2024 and 2023, respectively.Risk factors (Item 1A)
Also named by DORM
Lam Research Corporation
earns from · more than 10% of our total revenuesnamed as a riskOur two largest revenue customers in fiscal years 2025, 2024 and 2023 were Applied Materials, Inc. and Lam Research Corporation, each of which accounted for more than 10% of our total revenues in those three years.Business (Item 1)
Three largest customers (accounts receivable)
concentrated in · 36.0%We believe the three largest customer gross accounts receivable balances (36.0% as of December 26, 2025) do not represent a significant credit risk, based on cash flow forecasts, balance sheet analysis, and past collection experience.Market risk (Item 7A)
Suppliers
Single-source and sole-source suppliers
depends onnamed as a riskFor many of the components and raw materials we use in our products and services, we rely on both single-source and sole-source suppliers, many of whom have been specifically designated by our customers.Risk factors (Item 1A)
Also named by GEHC
Partners and platforms
Cinos Co., Ltd. (Cinos Korea) and Cinos Xi'an joint ventures
named as a riskIn particular, we participate in a joint venture with Cinos Co., Ltd. (“Cinos Korea”) in South Korea and Cinos Xi’an in China.Risk factors (Item 1A)
Other companies
Semiconductor industry
concentrated in · Approximately 95.7% of our total revenuesnamed as a riskApproximately 95.7% of our total revenues for the fiscal year 2025 came from multiple segments of the semiconductor industry, which include IDM, memory, foundry, OEM, and sub-tier suppliers.Business (Item 1)
Term B loan
$481.4 millionnamed as a riskAt the end of fiscal 2025, the Term B loan had a balance of $481.4 million.Market risk (Item 7A)
Competitors
Ichor Systems, Inc.
competes withOur principal competitors for gas delivery systems are Ichor Systems, Inc. and Fujikin Incorporated; our principal competitors for other critical subsystems are Foxsemicon Integrated Technology Inc., Jabil, Inc., VDL ETG, Celestica Inc. and Benchmark Electronics, Inc.Business (Item 1)
Fujikin Incorporated
competes withOur principal competitors for gas delivery systems are Ichor Systems, Inc. and Fujikin Incorporated; our principal competitors for other critical subsystems are Foxsemicon Integrated Technology Inc., Jabil, Inc., VDL ETG, Celestica Inc. and Benchmark Electronics, Inc.Business (Item 1)
KoMiCo
competes withFor our services, cleaning and coating offerings, our main competitors are KoMiCo, SHT, EnPro and Pentagon.Business (Item 1)
Places
International markets
earns from · 75.9%named as a riskWe generated approximately 75.9% and 73.0% of our revenues in international markets for fiscal years 2025 and 2024, respectively.Risk factors (Item 1A)
Also named by ABNB, ADSK, BSX, CROX, CRWD, DOCU, DXCM, EFX and 18 more
Asia Pacific
operates in · $120.2 millionnamed as a riskThe carrying amount of our fixed assets in Asia Pacific and EMEA were $120.2 million and $83.0 million, respectively as of December 26, 2025, and $121.0 million and $84.5 million, respectively as of December 27, 2024.Risk factors (Item 1A)
Also named by AIG, AVY, BLK, BNY, CCK, CL, COHR, DCI and 17 more
EMEA
operates in · $83.0 millionnamed as a riskThe carrying amount of our fixed assets in Asia Pacific and EMEA were $120.2 million and $83.0 million, respectively as of December 26, 2025, and $121.0 million and $84.5 million, respectively as of December 27, 2024.Risk factors (Item 1A)
China
operates innamed as a riskWe and our customers have significant operations in China.Risk factors (Item 1A)
Also named by A, AA, AAOI, AAP, AAPL, AB, ADI, AEHR and 261 more
Israel
concentrated innamed as a riskOur Fluid Solutions business operations are concentrated in Israel, where key employees, offices and production facilities are located.Risk factors (Item 1A)
Also named by AIOT, AKAM, AMAT, AMGN, APP, ASTS, AVY, BSX and 31 more
California data center
depends onnamed as a riskThe manufacture and delivery of our products, the provision of our services and our financial reporting depend on the continuing operation of our technology infrastructure and systems, particularly our data center located in California.Risk factors (Item 1A)
Malaysia
operates inOur future cash requirements will depend on many factors, including the following capital expenditures: expansion of manufacturing in Malaysia and other locations as part of our strategic growth plan; enhancement of IT systems and cybersecurity infrastructure; manufacturing process changes and facility modifications required to meeting evolving customer requirements; and timing of new product introductions.Risk factors (Item 1A)
Also named by A, ANET, AVGO, CGNX, DELL, FSLR, LITE, MSI and 6 more
Hazards
Israel-Hamas conflict
operates innamed as a riskThis instability has disrupted and may continue to disrupt our workforce availability, our ability to ship products to customers, and our ability to receive materials from suppliers.Risk factors (Item 1A)
Earthquakes in Hayward, California and Taiwan (Hsinchu, Tainan)
operates innamed as a riskWe have facilities in areas with elevated seismic activity, including Hayward, California, and our Taiwan facilities in Hsinchu and Tainan.Risk factors (Item 1A)
Commodities and inputs
Mass flow controllers, valves and regulators
depends onnamed as a riskIn the past, we have experienced shortages in supplies of various components, such as mass flow controllers, valves and regulators, and certain prefabricated parts, such as sheet metal enclosures, used in the manufacture of our products.Risk factors (Item 1A)
Fluid Solutions raw materials
exposed to its pricenamed as a riskFluid Solutions, for example, is susceptible to experiencing sharp price fluctuations in raw materials, which can significantly affect, and has affected in the past, its cost of revenue and could erode profitability and competitiveness.Risk factors (Item 1A)
Regulators
U.S. Department of Commerce Entity List / export controls
subject to · over 140 Chinese entitiesnamed as a riskSince December 2024, the U.S. Department of Commerce has significantly expanded export license requirements on certain semiconductor goods and technologies sold to China, and has added over 140 Chinese entities to its Entity List.Risk factors (Item 1A)
China and South Korea local-preference policies
subject tonamed as a riskWithout notice, these government authorities may continue or alter these policies to our detriment, including imposition of confiscatory taxation policies, new restrictions on currency conversion, and limitations on sources of supply.Risk factors (Item 1A)
Laws and programs
OECD Pillar Two global minimum tax
subject to · fifteen percentnamed as a riskWe currently benefit from certain tax incentives in Singapore and Malaysia that result in effective tax rates below fifteen percent in those jurisdictions.Risk factors (Item 1A)
Also named by ABNB, ACN, ADI, ADM, ADSK, AKAM, ALB, AMAT and 70 more
U.S.-China tariffs
exposed to its pricenamed as a riskAdditionally, tariffs and retaliatory tariffs levied by the United States and China on certain raw materials have in the past increased the cost of materials for our products.Risk factors (Item 1A)
Conflict minerals rules (Form SD)
subject tonamed as a riskComplying with these rules could adversely affect the sourcing, supply and pricing of materials used in our products and result in substantial additional costs.Risk factors (Item 1A)