Table of Contents :
• Stock Rating & Target Price
• Investment Thesis
• Fundamental Models Used
• Company Description
• Corporate Timeline
• Key Metrics (KPI ) and Recently Reported Earnings Review
• Business Highlights, Strategic Announcements & Outlook
• Quarter-over-Quarter (Q-o-Q) and Year-over-Year (Y-o-Y) Growth Analysis
• Key Catalysts Driving Growth
• Historical Financial Statement Analysis & CAGR Trends
• Quarterly Key Financial Ratios and Performance Metrics
• Annual Financial Performance Analysis: Horizontal and Vertical Financial Analysis, Trends
• Financial Forecasts
• Annual Forecasts: Income Statement
• Annual Forecasts: Cash Flow Statements
• Net Debt Levels
• A Closer Look at DCF: Our Assumptions and Methodology
• Terminal Value Calculation
• Target Price Analysis
• Valuation Multiples
• Supplementary Valuation Analysis: Multiples Approach
• Scenario/Sensitivity Analysis – Base Case , Bull Case ,Bear Case
• Holistic Peer Review & Trading Comps: Financial Data, Operational Metrics, and Valuation Multiples
• Implied Price Per Share
• Ownership Activity/ Insider Trades
• Ownership Summary
• An analysis of ESG Risk Rating
• Key Professionals
• Key Board Members
• Key Risks Considerations
• Analyst Ratings
• Analyst Industry Views
• Disclosures
Entegris Inc (ENTG): Leveraging Advanced Materials for Growth—Can Node Transitions Drive Long-Term Competitive Gains?
Entegris posted a mixed Q3 2024, reflecting resilience in growth areas amid broader market challenges. Revenue of $807.69M (+7% YoY, excluding divestitures) missed estimates by $24.69M, impacted by softness in mainstream and NAND markets. Materials Solutions (MS) division sales grew 14% YoY, driven by strength in CMP slurries, deposition materials, and etching chemistries, aligning with advanced logic and 3D NAND demand trends. Adjusted EPS of $0.77 narrowly missed by $0.01, while GAAP EPS of $0.51 exceeded expectations by $0.04. Gross margin of 46% and EBITDA margin of 28.8% (non-GAAP) demonstrated solid profitability despite market volatility. Operational initiatives included integrating the AMH and MC divisions, targeting $10–$15M in annual savings while sustaining R&D intensity. Investments in manufacturing capacity in Taiwan and Colorado Springs remain critical for capturing future growth, though near-term inefficiencies may weigh on margins. Strategic wins in molybdenum deposition materials position Entegris for outsized benefits as 3D NAND transitions to 300-layer nodes and logic applications in 2025 and beyond. Q4 guidance projects $810–$840M in revenue (+8% YoY) and EBITDA margins of 28.5%-29.5%. As Entegris balances cost optimization and infrastructure investments, can it sustain competitive differentiation in advanced materials to outpace semiconductor market growth amid evolving end-market dynamics?
