Rational Investing

Semiconductor Equipment & Materials

	Total Market Capitalization of All Firms	$1,107,630 mm
	Average Market Capitalization	$30,767 mm
	Average Market to Model Ratio Weighted by Log of Market Cap	1.3
	Standard Deviation of MM Ratio	0.6
	Average Beta	1.3
	Average EV To Revenue	4.3
	Average EV To EBITDAM	22.7
	Average Price To Free Cash Flow	33.1

Ticker	Company Name	Market To Model	Market Cap ($ mm)	EV to Revenue	Price To FCF	EV/EBITDAM	% Growth	Beta	As Of
CREE	Cree Inc	2.79	7,260	12.5	72.5	30	-25	1.1	Jun 20
BRKS	Brooks Automation Inc.	2.32	3,584	4.2	48.7	31.4	11	1.6	Jun 20
XLNX	Xilinx Inc	2.30	29,663	10.8	32.8	31.9	-10	0.9	Sep 20
6146	DisCo Corp	2.25	9,526	0.1	54.9	32.8	9	1.2	Jun 20
0522.HK	ASM PACIFIC TECHNOLOGY LTD	2.20	5,212	0.6	47.7	30.1	-5	0.9	Jun 20
AIXA.DE	AIXTRON SE	2.18	1,517	7.6	11.4	30	-23	1.0	Jun 20
OLED	Universal Display Corporation	2.08	9,134	26.1	91.5	30	-13	1.4	Jun 20
7735	Screen Holdings Co Ltd	1.87	2,776	0.2	39.8	29.0	3	1.1	Jun 20
COHU	Cohu Inc.	1.62	788	2.1	19.2	30	-8	1.7	Jun 20
CCMP	Cabot Microelectronics Corp.	1.55	4,420	4.8	99	15.4	9	1.2	Jun 20
WAF.DE	Siltronic AG	1.50	3,088	3.1	21.2	16.9	-8	1.8	Jun 20
ASML	Asml Holding Nv	1.44	161,138	9.7	52.5	40.1	27	1.2	Sep 20
7729	Tokyo Seimitsu Co Ltd	1.35	1,389	0.1	34.7	17.9	4	1.3	Jun 20
KLAC	Kla Tencor Corp	1.27	32,836	5.2	16.4	16.0	21	1.1	Jun 20
8035	Tokyo Electron Limited	1.20	44,828	0.1	28.1	21.9	24	0.9	Jun 20
KLIC	Kulicke & Soffa Industries Inc	1.19	1,750	2.9	20.8	21.0	15	1.2	Jun 20
LRCX	Lam Research Corp	1.18	53,063	5.3	18.8	16.7	10	1.2	Jun 20
VECO	Veeco Instruments Inc.	1.11	622	2.1	13	24.3	5	1.2	Jun 20
AMS.SW	AMS AG	0.95	6,353	4.7	21	27.3	10	2.3	Jun 20
ASML.AS	Asml Holding Nv	0.95	159,371	10.9	38.7	32.6	26	1.2	Sep 20
TER	Teradyne Inc	0.95	15,769	5.4	40.4	21.8	32	1.3	Sep 20
AMAT	Applied Materials Inc	0.94	57,865	3.7	19.5	13.6	17	1.2	Jul 20
ENTG	Entegris Inc.	0.94	10,617	6.5	76.4	26.3	12	1.2	Jun 20
FTV	Fortive Corp	0.94	22,284	4.1	66.5	24.9	-4	1.1	Jun 20
2303.TW	United Microelectronics Corp	0.92	13,404	0.5	9.0	13.7	27	1.4	Jun 20
2330.TW	Taiwan Semiconductor Mfg. Co.	0.84	409,631	0.5	27.9	24.3	25	1.4	Sep 20
BESI.AS	BE Semiconductor Industries NV	0.82	3,675	9.3	29.6	22.6	19	1.5	Jun 20
3105.TW	WIN Semiconductors Corp	0.81	4,624	0.4	22.6	12.9	40	1.2	Jun 20
CLS	Celestica Inc	0.78	917	0.3	7	30	-4	2.4	Jun 20
6488.TW	GlobalWafers Co., Ltd.	0.72	6,404	0.4	22.0	11.6	-10	1.3	Jun 20
AMKR	Amkor Technology Inc	0.70	2,425	0.8	12.6	10.6	24	1.7	Jun 20
3711.TW	ASE Technology Holding Co., Lt	0.64	9,685	0.5	26.3	40.8	12	1.4	Jun 20
ASM.AS	ASM International NV	0.61	8,456	5.9	21.5	14.1	28	1.4	Jun 20
IMOS	Chipmos Technologies	0.60	737	1.4	7.1	7.0	19	0.9	Jun 20
6239.TW	Powertech Technology Inc.	0.57	2,387	0.4	11.8	11.1	27	1.2	Jun 20
PLAB	Photronics Inc.	0.45	431	0.8	9.3	5.0	16	0.9	Jul 20