ENTGSemiconductor materials
Entegris
Not investment advice. Kevin may own this stock. How we value stocks
By Kevin Amado
Updated
- Price
- $153.21
- Analysts view
- Bullish
- Discount category
- Close to intrinsic value
- Pick status
- Research only
- Next earnings
- Earnings Feb 9 · · estimated
- Market cap
- $23B
- Shares of Oct 26, 2026
- Yield at current rate
- 0.3%
- Current annual rate, at the price of Nov 13, 2026
- Dividend yield
- 0.3%
- Last 12 months, at the price of Nov 13, 2026
- P/E (trailing)
- 59.6
- Price of Nov 13, 2026
- EPS (trailing)
- $2.57
- 12 months to Sep 26, 2026
- 52-week range
- $67.97 – $186.94
- To Nov 12, 2026
- Beta
- 1.39
- Vs S&P 500, 5 years monthly, to Oct 30, 2026
- Average volume
- 2.6M
- 3 months, to Nov 12, 2026
Check the numbers:ExchangeGoogle FinanceYahoo FinanceSEC filings
In short
- Thesis
- The market weighs the rising materials content per chip of Entegris against a cyclical industry and China risk, and sales and margins on the path of its new long-term model through 2027 can lift its value.
- Gap
- Can close. The Q4 2026 report, expected in February 2027, and the 2027 quarters show whether sales growth and margins follow the new long-term model.
Company guidance: Long-term revenue growth about 15% a year, adjusted operating margin about 35% and adjusted EPS growth about 30% a year (, 2026 Capital Markets Day release (8-K))
Price history
About
Entegris, Inc. (Entegris) is based in Billerica, Massachusetts. It supplies advanced materials and purity products to makers of semiconductors and other high-technology products. The Materials Solutions segment sells deposition materials, CMP slurries and pads, specialty gases and etch and clean chemicals. The Advanced Purity Solutions segment sells filters, purifiers and products that keep wafers and chemicals clean.
Sales were $1,005.7 million in Q3 2026, the quarter ended September 26, 2026. Taiwan made 26% and China 18% of Q3 sales. The common stock trades on Nasdaq in US dollars. Entegris files 10-K and 10-Q reports.
Thesis
The price of Entegris depends on whether more complex chips raise the amount of its materials and filters per wafer fast enough to meet its new long-term model. Q3 2026 sales grew 25% to $1,005.7 million, the adjusted operating margin rose to 26.8% from 21.1% and non-GAAP EPS rose to $1.23 from $0.72. In November 2026 the company set targets of revenue growth of about 15% a year and an adjusted operating margin of about 35%. Its sales follow the production and capital spending of chip makers, which can fall fast.
For the price to hold or rise, four things must be true. Sales to advanced logic, memory and packaging customers must keep growing. The margin must keep rising toward the 35% target. Sales in China, which were 18% of Q3 sales, must not fall because of export controls or tariffs.
Cash flow must keep paying down debt and fund the new $500 million share repurchase program. The Q4 2026 report, expected in February 2027, is the next test.
Checkpoints
- Feb 9, 2027 · est.PendingQ4 2026 resultsQ4 sales are in the guided range of $1,025 million to $1,055 million and non-GAAP EPS is $1.32 or more, and this passes; a result below the range fails.
Recent events
- November 9, 2026At its Capital Markets Day, Entegris set a long-term model of revenue growth of about 15% a year, an adjusted gross margin of about 55%, an adjusted operating margin of about 35% and adjusted EPS growth of about 30% a year. The board authorized a $500 million share repurchase program, and the company expects to raise its quarterly dividend by 10% from Q1 2027.
- October 29, 2026Entegris reported Q3 2026 results. Sales were $1,005.7 million, GAAP EPS was $1.03 and non-GAAP EPS was $1.23. It guided Q4 sales of $1,025 million to $1,055 million and non-GAAP EPS of $1.32 to $1.40.
- September 26, 2026By the end of Q3 2026, Entegris had repaid all of its Term Loans B, $450.0 million in nine months, of which $200.0 million was in Q3.
Show 2 older eventsHide older events
- July 28, 2026Bertrand Loy, the Executive Chair, said that he would retire and leave the board on July 31, 2026. The board made James F. Gentilcore its Chair and appointed Robert A. Bruggeworth, the chief executive of Qorvo, as a director.
- April 29, 2026Entegris increased its revolving credit facility to $750.0 million from $575.0 million and moved its maturity to April 29, 2031.
Latest news and filings
- Last earnings
- October 29, 2026 (8-K on sec.gov)
- Next earnings
- Expected about February 9, 2027. The company has not confirmed the date.
- 8-KInvestor disclosure and Other company newsFiled · Read it on sec.gov
- 10-QQuarterly report for the period ended Sep 26, 2026Filed · entg-20260926
- 8-KEarnings releaseFiled · Press release and exhibits
- 8-KOther company newsFiled · entg-20261014
- 10-QQuarterly report for the period ended Jun 27, 2026Filed · entg-20260627
- 8-KEarnings releaseFiled · Press release and exhibits
- 8-KChange of directors or officersFiled · entg-20260728
- 8-KOther company newsFiled · entg-20260715
- 8-KChange of directors or officersFiled · entg-20260509
- 8-KChange to shareholder rights or bylaws and Shareholder vote resultsFiled · Read it on sec.gov
Risks
- Demand follows the chip cycle. When chip makers cut production or capital spending, sales and margins of Entegris can fall fast.
- Trade rules can hurt sales. China made 18% of Q3 2026 sales, and export controls, sanctions and tariffs have raised costs and can limit sales.
- Debt is still large. Debt principal was $3,295.0 million at September 26, 2026, and net interest expense was $43.9 million in Q3.
- The new targets are demanding. The long-term model needs the adjusted operating margin to rise to about 35% from 26.8% in Q3 2026.
- Leaders changed. The Executive Chair retired in July 2026 and a new head of Materials Solutions started in June 2026.
Balance sheet
- Cash
- $357M
- Debt
- $3.3B
- Net debt
- $2.9B
- Credit line
- $750M
- undrawn, to April 2031
Cash against debt
debt covered by cashnet debt $2.9B
At September 26, 2026, Entegris had debt principal of $3,295.0 million: $1,600.0 million of 4.75% senior secured notes due 2029, $400.0 million of 3.63% senior notes due 2029, $400.0 million of 4.38% senior notes due 2028 and $895.0 million of 5.95% senior notes due 2030. It repaid all $450.0 million of its Term Loans B in nine months. Cash and cash equivalents were $356.5 million. The $750.0 million revolving credit facility, which matures on April 29, 2031, had no borrowings. Operating cash flow was $606.0 million and capital spending was $124.0 million for nine months. Adjusted EBITDA was $303.3 million in Q3. Total equity was $4,332.9 million.
Dividends
- Yield at the current rate
- 0.3% (current annual rate, at today’s price)
- Dividend yield
- 0.3% (last 12 months, at today’s price of $153.21)
- Paid per share
- $0.40 in the last 12 months (4 payments)
- Current annual rate
- $0.40 ($0.10 × 4 a year)
- Payout ratio
- 26% of the last fiscal year’s earnings (the year that ended December 31, 2025)
- Latest ex-dividend date
- October 28, 2026, $0.10 per share
Dividends per share by year
| 2016 | $0.00 | |
|---|---|---|
| 2017 | $0.07 | |
| 2018 | $0.28 | |
| 2019 | $0.30 | |
| 2020 | $0.32 | |
| 2021 | $0.32 | |
| 2022 | $0.40 | |
| 2023 | $0.40 | |
| 2024 | $0.40 | |
| 2025 | $0.40 |
From 2020 to 2025, the dividend grew by about 4.6% a year.
Source: company filings and market data, read on November 12, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.
Questions about Entegris
What does Entegris do?
Entegris, Inc. (Entegris) is based in Billerica, Massachusetts. It supplies advanced materials and purity products to makers of semiconductors and other high-technology products. Its market cap is $23B at the current price of $153.21.
When does Entegris report earnings next?
This is an estimate: Entegris may report on February 9, 2027. It last reported results on October 29, 2026.
Is Entegris stock below its intrinsic value?
Entegris stock is close to intrinsic value. This is general information, not advice.
What changed recently at Entegris?
The latest update is from November 9, 2026. At its Capital Markets Day, Entegris set a long-term model of revenue growth of about 15% a year, an adjusted gross margin of about 55%, an adjusted operating margin of about 35% and adjusted EPS growth of about 30% a year.
What are the main risks for Entegris?
Demand follows the chip cycle. Trade rules can hurt sales. Debt is still large.
How much debt and cash does Entegris have?
At September 26, 2026, Entegris had $3.3B of debt and $357M of cash.
Does Entegris pay a dividend?
Yes. The current annual dividend of Entegris is $0.40 per share. That is a dividend yield of 0.3% at the current price of $153.21. The latest ex-dividend date was October 28, 2026.
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