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Side-by-side financial comparison of ICHOR HOLDINGS, LTD. (ICHR) and Walker & Dunlop, Inc. (WD). Click either name above to swap in a different company.
Walker & Dunlop, Inc. is the larger business by last-quarter revenue ($340.0M vs $223.6M, roughly 1.5× ICHOR HOLDINGS, LTD.). ICHOR HOLDINGS, LTD. runs the higher net margin — -7.1% vs -12.9%, a 5.8% gap on every dollar of revenue. On growth, Walker & Dunlop, Inc. posted the faster year-over-year revenue change (-0.4% vs -4.2%). ICHOR HOLDINGS, LTD. produced more free cash flow last quarter ($5.9M vs $-680.1M). Over the past eight quarters, Walker & Dunlop, Inc.'s revenue compounded faster (22.1% CAGR vs 5.4%).
Ichor Holdings Ltd. designs, manufactures and supplies critical fluid delivery systems, subsystems and related components for the global semiconductor manufacturing sector. Its products are integrated into front-end wafer processing equipment, supporting production of advanced logic, memory and specialty chips for leading semiconductor device and equipment makers across North America, East Asia and Europe.
Walker & Dunlop, Inc. is one of the largest commercial real estate finance and advisory services firms in the United States and internationally.
ICHR vs WD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $223.6M | $340.0M |
| Net Profit | $-16.0M | $-13.9M |
| Gross Margin | 9.4% | — |
| Operating Margin | -6.2% | -17.2% |
| Net Margin | -7.1% | -12.9% |
| Revenue YoY | -4.2% | -0.4% |
| Net Profit YoY | -304.8% | -131.0% |
| EPS (diluted) | $-0.46 | $-0.41 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $223.6M | $340.0M | ||
| Q3 25 | $239.3M | $337.7M | ||
| Q2 25 | $240.3M | $319.2M | ||
| Q1 25 | $244.5M | $237.4M | ||
| Q4 24 | $233.3M | $341.5M | ||
| Q3 24 | $211.1M | $292.3M | ||
| Q2 24 | $203.2M | $270.7M | ||
| Q1 24 | $201.4M | $228.1M |
| Q4 25 | $-16.0M | $-13.9M | ||
| Q3 25 | $-22.9M | $33.5M | ||
| Q2 25 | $-9.4M | $34.0M | ||
| Q1 25 | $-4.6M | $2.8M | ||
| Q4 24 | $-3.9M | $44.8M | ||
| Q3 24 | $-2.8M | $28.8M | ||
| Q2 24 | $-5.1M | $22.7M | ||
| Q1 24 | $-9.0M | $11.9M |
| Q4 25 | 9.4% | — | ||
| Q3 25 | 4.6% | — | ||
| Q2 25 | 11.3% | — | ||
| Q1 25 | 11.7% | — | ||
| Q4 24 | 11.6% | — | ||
| Q3 24 | 13.2% | — | ||
| Q2 24 | 12.6% | — | ||
| Q1 24 | 11.4% | — |
| Q4 25 | -6.2% | -17.2% | ||
| Q3 25 | -8.1% | 13.6% | ||
| Q2 25 | -2.0% | 14.5% | ||
| Q1 25 | -0.5% | 2.2% | ||
| Q4 24 | -0.5% | 15.3% | ||
| Q3 24 | -0.2% | 12.8% | ||
| Q2 24 | -1.1% | 10.4% | ||
| Q1 24 | -1.9% | 6.0% |
| Q4 25 | -7.1% | -12.9% | ||
| Q3 25 | -9.6% | 9.9% | ||
| Q2 25 | -3.9% | 10.6% | ||
| Q1 25 | -1.9% | 1.2% | ||
| Q4 24 | -1.7% | 13.1% | ||
| Q3 24 | -1.3% | 9.9% | ||
| Q2 24 | -2.5% | 8.4% | ||
| Q1 24 | -4.5% | 5.2% |
| Q4 25 | $-0.46 | $-0.41 | ||
| Q3 25 | $-0.67 | $0.98 | ||
| Q2 25 | $-0.28 | $0.99 | ||
| Q1 25 | $-0.13 | $0.08 | ||
| Q4 24 | $-0.11 | $1.32 | ||
| Q3 24 | $-0.08 | $0.85 | ||
| Q2 24 | $-0.15 | $0.67 | ||
| Q1 24 | $-0.30 | $0.35 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $98.3M | $299.3M |
| Total DebtLower is stronger | $123.5M | — |
| Stockholders' EquityBook value | $663.9M | $1.7B |
| Total Assets | $942.9M | $5.1B |
| Debt / EquityLower = less leverage | 0.19× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $98.3M | $299.3M | ||
| Q3 25 | $92.5M | $274.8M | ||
| Q2 25 | $92.2M | $233.7M | ||
| Q1 25 | $109.3M | $181.0M | ||
| Q4 24 | $108.7M | $279.3M | ||
| Q3 24 | $116.4M | $179.8M | ||
| Q2 24 | $114.3M | $208.1M | ||
| Q1 24 | $102.1M | $216.5M |
| Q4 25 | $123.5M | — | ||
| Q3 25 | $123.5M | — | ||
| Q2 25 | $125.0M | — | ||
| Q1 25 | $126.8M | — | ||
| Q4 24 | $128.5M | — | ||
| Q3 24 | $130.3M | — | ||
| Q2 24 | $130.2M | — | ||
| Q1 24 | $131.9M | — |
| Q4 25 | $663.9M | $1.7B | ||
| Q3 25 | $676.2M | $1.8B | ||
| Q2 25 | $694.1M | $1.8B | ||
| Q1 25 | $700.4M | $1.7B | ||
| Q4 24 | $698.3M | $1.7B | ||
| Q3 24 | $697.3M | $1.7B | ||
| Q2 24 | $694.9M | $1.7B | ||
| Q1 24 | $697.2M | $1.7B |
| Q4 25 | $942.9M | $5.1B | ||
| Q3 25 | $966.6M | $5.8B | ||
| Q2 25 | $985.1M | $4.7B | ||
| Q1 25 | $1.0B | $4.5B | ||
| Q4 24 | $995.6M | $4.4B | ||
| Q3 24 | $975.9M | $4.6B | ||
| Q2 24 | $947.7M | $4.2B | ||
| Q1 24 | $957.4M | $3.8B |
| Q4 25 | 0.19× | — | ||
| Q3 25 | 0.18× | — | ||
| Q2 25 | 0.18× | — | ||
| Q1 25 | 0.18× | — | ||
| Q4 24 | 0.18× | — | ||
| Q3 24 | 0.19× | — | ||
| Q2 24 | 0.19× | — | ||
| Q1 24 | 0.19× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $9.2M | $-664.3M |
| Free Cash FlowOCF − Capex | $5.9M | $-680.1M |
| FCF MarginFCF / Revenue | 2.6% | -200.0% |
| Capex IntensityCapex / Revenue | 1.5% | 4.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-6.3M | $-2.2B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $9.2M | $-664.3M | ||
| Q3 25 | $9.2M | $-948.1M | ||
| Q2 25 | $-7.5M | $-238.5M | ||
| Q1 25 | $19.0M | $-281.1M | ||
| Q4 24 | $-2.5M | $129.4M | ||
| Q3 24 | $8.1M | $-202.0M | ||
| Q2 24 | $17.5M | $-237.8M | ||
| Q1 24 | $4.8M | $38.4M |
| Q4 25 | $5.9M | $-680.1M | ||
| Q3 25 | $2.1M | $-950.4M | ||
| Q2 25 | $-14.8M | $-241.0M | ||
| Q1 25 | $496.0K | $-284.7M | ||
| Q4 24 | $-6.9M | $116.4M | ||
| Q3 24 | $2.2M | $-204.0M | ||
| Q2 24 | $14.6M | $-241.7M | ||
| Q1 24 | $314.0K | $35.2M |
| Q4 25 | 2.6% | -200.0% | ||
| Q3 25 | 0.9% | -281.5% | ||
| Q2 25 | -6.2% | -75.5% | ||
| Q1 25 | 0.2% | -120.0% | ||
| Q4 24 | -3.0% | 34.1% | ||
| Q3 24 | 1.0% | -69.8% | ||
| Q2 24 | 7.2% | -89.3% | ||
| Q1 24 | 0.2% | 15.4% |
| Q4 25 | 1.5% | 4.6% | ||
| Q3 25 | 3.0% | 0.7% | ||
| Q2 25 | 3.0% | 0.8% | ||
| Q1 25 | 7.6% | 1.5% | ||
| Q4 24 | 1.9% | 3.8% | ||
| Q3 24 | 2.8% | 0.7% | ||
| Q2 24 | 1.4% | 1.4% | ||
| Q1 24 | 2.2% | 1.4% |
| Q4 25 | — | — | ||
| Q3 25 | — | -28.34× | ||
| Q2 25 | — | -7.02× | ||
| Q1 25 | — | -102.07× | ||
| Q4 24 | — | 2.89× | ||
| Q3 24 | — | -7.01× | ||
| Q2 24 | — | -10.49× | ||
| Q1 24 | — | 3.24× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ICHR
| Other | $101.6M | 45% |
| US | $67.4M | 30% |
| Other Countries | $29.7M | 13% |
| Europe | $24.9M | 11% |
WD
Segment breakdown not available.
