Rational Investing

Semiconductor Equipment & Materials

	Total Market Capitalization of All Firms	$1,078,596 mm
	Average Market Capitalization	$29,151 mm
	Average Market to Model Ratio Weighted by Log of Market Cap	1.3
	Standard Deviation of MM Ratio	0.7
	Average Beta	1.3
	Average EV To Revenue	4.2
	Average EV To EBITDAM	24.8
	Average Price To Free Cash Flow	39.7

Ticker	Company Name	Market To Model	Market Cap ($ mm)	EV to Revenue	Price To FCF	EV/EBITDAM	% Growth	Beta	As Of
BESI.AS	BE Semiconductor Industries NV	2.71	3,718	11.2	39.3	34.7	0	1.5	Mar 20
OLED	Universal Display Corporation	2.69	8,901	24.5	91.9	30	-10	1.4	Jun 20
LRCX	Lam Research Corp	2.57	56,527	6.3	24.4	21.5	0	1.4	Mar 20
AIXA.DE	AIXTRON SE	2.54	1,475	7.4	11.1	30	-23	1.0	Jun 20
0522.HK	ASM PACIFIC TECHNOLOGY LTD	2.53	5,179	0.7	88.5	30	-17	0.9	Dec 19
COHU	Cohu Inc.	2.48	759	1.9	18.5	30	1	1.3	Mar 20
XLNX	Xilinx Inc	2.48	26,789	10.1	36.1	27.9	-12	1.3	Jun 20
7729	Tokyo Seimitsu Co Ltd	2.28	1,380	0.2	51.6	29.5	-13	1.4	Mar 20
6146	DisCo Corp	2.12	8,812	0.1	58.9	34.7	9	1.4	Jun 20
7735	Screen Holdings Co Ltd	1.83	2,666	0.2	63.9	42.9	3	1.4	Jun 20
KLAC	Kla Tencor Corp	1.46	33,934	6.0	28.2	16.2	37	1.3	Mar 20
CCMP	Cabot Microelectronics Corp.	1.39	4,834	5.2	99	17.5	9	1.3	Jun 20
8035	Tokyo Electron Limited	1.35	44,422	0.1	29.0	22.1	24	1.1	Jun 20
CREE	Cree Inc	1.28	7,242	11.0	72.4	30	-32	1.1	Mar 20
WAF.DE	Siltronic AG	1.26	2,747	3.0	53.3	33.1	-19	1.7	Mar 20
FTV	Fortive Corp	1.24	24,720	4.5	73.8	27.1	-4	1.2	Jun 20
AMAT	Applied Materials Inc	1.18	61,777	4.3	20.5	16.4	7	1.4	Apr 20
PLAB	Photronics Inc.	1.18	791	1.4	11.8	8.2	13	0.8	Apr 20
AMS.SW	AMS AG	1.16	5,110	4.1	17	23.9	12	2.0	Jun 20
2303.TW	United Microelectronics Corp	1.14	9,463	0.5	9.5	10.2	19	1.4	Mar 20
BRKS	Brooks Automation Inc.	1.11	4,081	4.8	55.4	32.3	11	1.5	Jun 20
ENTG	Entegris Inc.	1.10	9,575	5.9	68.5	23.9	12	1.3	Jun 20
6256	NuFlare Technology Inc	1.05	1,325	0.0	41.5	19.1	10	1.2	Dec 19
2330.TW	Taiwan Semiconductor Mfg. Co.	0.90	378,482	0.4	99	21.2	26	1.2	Mar 20
VECO	Veeco Instruments Inc.	0.87	655	2.2	13.6	25.8	5	1.3	Jun 20
ASML	Asml Holding Nv	0.83	159,520	10.2	62.7	48.3	20	1.1	Jun 20
CLS	Celestica Inc	0.82	1,104	0.4	8.4	30	-10	1.3	Mar 20
ASML.AS	Asml Holding Nv	0.78	160,346	11.2	44.2	36.2	23	1.1	Jun 20
IMOS	Chipmos Technologies	0.75	789	1.4	13.4	14.8	20	0.9	Mar 20
KLIC	Kulicke & Soffa Industries Inc	0.70	1,594	2.7	24.5	46.4	15	1.3	Jun 20
6488.TW	GlobalWafers Co., Ltd.	0.67	6,057	0.4	17.3	12.7	-12	1.4	Mar 20
3105.TW	WIN Semiconductors Corp	0.64	4,321	0.3	15.1	10.8	52	1.5	Mar 20
6239.TW	Powertech Technology Inc.	0.64	2,408	0.5	35.1	21.2	17	1.4	Mar 20
ASM.AS	ASM International NV	0.62	8,625	6.0	21.0	14.1	28	1.5	Jun 20
TER	Teradyne Inc	0.62	15,423	4.9	26.1	16.5	41	1.3	Jun 20
3711.TW	ASE Technology Holding Co., Lt	0.57	9,833	0.5	13.7	20.6	7	1.4	Mar 20
AMKR	Amkor Technology Inc	0.57	3,213	1.0	9.5	9.1	24	1.7	Jun 20