Quality Investor

Kulicke and Soffa Industries, Inc.

Rank #336Capital Return

KLIC · Nasdaq · Technology

Kulicke and Soffa Industries, Inc. (KLIC) — Rank #336 by gross profitability (GP/assets 0.21) · ROE 0.0% · Piotroski F-Score N/A.

As-of 2026-09-15 · CIK 0000056978 · all metrics point-in-time as of the filing date.

About

Kulicke and Soffa Industries, Inc. designs, manufactures, and sells capital equipment and consumables in China, the United States, Taiwan, Malaysia, Japan, the Philippines, Korea, Hong Kong, and internationally.

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It operates through four segments: Ball Bonding Equipment, Wedge Bonding Equipment, Advanced Solutions, and Aftermarket Products and Services (APS). The company provides services used to assemble semiconductor devices, such as integrated circuits, power discretes, light-emitting diode (LEDs), and sensors. It also offers ball bonding equipment, wafer level bonding equipment, and wedge and wedge-related bonding equipment; and advanced display, die-attach, and thermocompression systems and solutions, as well as tools, spares, and services for equipment. In addition, the company services, maintains, repairs, and upgrades equipment; and sells consumable aftermarket solutions and services. It serves integrated device manufacturers, outsourced semiconductor assembly and test providers, other electronics manufacturers, foundry service providers, and automotive electronics suppliers primarily in the United States and the Asia/Pacific region.

The company was founded in 1951 and is headquartered in Singapore.

Industry
Semiconductor Equipment & Materials
Sector
Technology
State
PA
Filer Category
Large accelerated filer
Fiscal Year End
October 3
Website
kns.com

Price History

KLIC+26.6% · +4.8% CAGRSPY+80.5% · +12.5% CAGR

Company Snapshot

P/E and reverse DCF are the primary valuation lenses at this stage.

Market Cap

$4.12B

P/E (annual)

19682.5

P/S (annual)

6.3

P/B

4.5

P/OCF (annual)

36.3

Shareholder Yield

4.4%

Employees

2,551

Industry

Semiconductor Equipment & Materials

Exchange

Nasdaq

Signal Flags

1 green1 yellow1 red
Sequential beat (rev + EPS)Both revenue and EPS exceeded prior quarter — 2-quarter streak
Disclosure regressionA previously-disclosed line item is no longer reported — worth checking the filing for why
Revenue declining YoYRevenue contracted year over year

Quality Profile

Profitability

1/1 pass
GP / assets
0.21
Return on equity
0.0%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
Current ratio
3.44×
Net cash
$516.57M

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
4.4%

Growth

1/2 pass
Revenue growth
-7.4%
Piotroski F-Score
N/A
Share dilution
-4.4%

Terry Smith quality gate

Passes 1/5 Terry Smith thresholds

1 of 5 threshold not computable from filed data.

What Growth Is Priced In

Implied revenue growth (10Y)

18.3%

fairly valued

The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).

Buyback tailwind: -4.4% — per-share value needs a total required return of 13.9% once share-count change is priced in.

vs. own 6-year median revenue growth: -2.9%

Cost-of-equity sensitivity (implied growth at different discount rates)

r = 8%

13.4%

r = 10% (base)

18.3%

r = 12%

22.5%

Net debt / market cap: -12.3%

Base FCF: $96.4M3Y mean FCF: $80.1M

Valuation History

Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.

P / E

Price / diluted EPS

9757.5xExpensive
6.6xmed 33.2x9757.5x

P / S

Price / revenue per share

3.2xExpensive
1.9xmed 2.7x3.8x

P / B

Price / book value per share

2.5xFair
1.9xmed 2.5x3.5x

P / GP

Price / gross profit per share

7.5xExpensive
3.8xmed 6.3x9.4x

P / FCF

Price / free cash flow per share

21.5xFair
7.8xmed 21.5x170.4x

FCF yield, shareholder yield, and buyback activity are the primary reads at this stage.

Profitability

Gross profitability (GP / assets)

0.21

Primary signal (Novy-Marx).

14th of 17 SIC 3674 peers

Return on equity

0.0%

Gross margin

42.5%

16th of 17 SIC 3674 peers

Revenue growth (YoY)

-7.4%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2022202320242025
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

-24.2%

Revenue CAGR (5Y)

1.0%

Earnings CAGR (3Y)

-92.1%

FCF CAGR (3Y)

-36.0%

Anti-fragile safety

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

Current ratio

3.44×

8th of 17 SIC 3674 peers

Quick ratio

Net cash

$516.57M

Cash & equivalents minus total debt.

Cash-flow health

Free cash flow

$96.36M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF / net income

451.40

Cash-backing of earnings.

FCF/NI divergence

Unfavorable divergence (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

4.4%

Stock-based comp intensity.

Piotroski F-Score

F-Score

N/A

Only 8/9 components determinable.

Lifecycle Phase History

20202025
Capital Return
Hypergrowth
Value
Decline
Startup