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Side-by-side financial comparison of ICHOR HOLDINGS, LTD. (ICHR) and WYNDHAM HOTELS & RESORTS, INC. (WH). Click either name above to swap in a different company.
WYNDHAM HOTELS & RESORTS, INC. is the larger business by last-quarter revenue ($334.0M vs $223.6M, roughly 1.5× ICHOR HOLDINGS, LTD.). ICHOR HOLDINGS, LTD. runs the higher net margin — -7.1% vs -18.0%, a 10.8% gap on every dollar of revenue. On growth, ICHOR HOLDINGS, LTD. posted the faster year-over-year revenue change (-4.2% vs -76.3%). WYNDHAM HOTELS & RESORTS, INC. produced more free cash flow last quarter ($168.0M vs $5.9M). Over the past eight quarters, ICHOR HOLDINGS, LTD.'s revenue compounded faster (5.4% CAGR vs -4.6%).
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.
Wyndham Hotels & Resorts, Inc., is an American hospitality company based in Parsippany, New Jersey, United States. It describes itself as the largest hotel franchisor in the world, with 9,100 locations.
ICHR vs WH — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $223.6M | $334.0M |
| Net Profit | $-16.0M | $-60.0M |
| Gross Margin | 9.4% | — |
| Operating Margin | -6.2% | — |
| Net Margin | -7.1% | -18.0% |
| Revenue YoY | -4.2% | -76.3% |
| Net Profit YoY | -304.8% | -170.6% |
| EPS (diluted) | $-0.46 | $-0.80 |
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.
| Q1 26 | — | $334.0M | ||
| Q4 25 | $223.6M | $334.0M | ||
| Q3 25 | $239.3M | $382.0M | ||
| Q2 25 | $240.3M | $397.0M | ||
| Q1 25 | $244.5M | $316.0M | ||
| Q4 24 | $233.3M | $336.0M | ||
| Q3 24 | $211.1M | $396.0M | ||
| Q2 24 | $203.2M | $367.0M |
| Q1 26 | — | $-60.0M | ||
| Q4 25 | $-16.0M | $-60.0M | ||
| Q3 25 | $-22.9M | $105.0M | ||
| Q2 25 | $-9.4M | $87.0M | ||
| Q1 25 | $-4.6M | $61.0M | ||
| Q4 24 | $-3.9M | $85.0M | ||
| Q3 24 | $-2.8M | $102.0M | ||
| Q2 24 | $-5.1M | $86.0M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | -6.2% | -11.4% | ||
| Q3 25 | -8.1% | 46.6% | ||
| Q2 25 | -2.0% | 37.8% | ||
| Q1 25 | -0.5% | 35.4% | ||
| Q4 24 | -0.5% | 38.4% | ||
| Q3 24 | -0.2% | 43.2% | ||
| Q2 24 | -1.1% | 39.5% |
| Q1 26 | — | -18.0% | ||
| Q4 25 | -7.1% | -18.0% | ||
| Q3 25 | -9.6% | 27.5% | ||
| Q2 25 | -3.9% | 21.9% | ||
| Q1 25 | -1.9% | 19.3% | ||
| Q4 24 | -1.7% | 25.3% | ||
| Q3 24 | -1.3% | 25.8% | ||
| Q2 24 | -2.5% | 23.4% |
| Q1 26 | — | $-0.80 | ||
| Q4 25 | $-0.46 | $-0.77 | ||
| Q3 25 | $-0.67 | $1.36 | ||
| Q2 25 | $-0.28 | $1.13 | ||
| Q1 25 | $-0.13 | $0.78 | ||
| Q4 24 | $-0.11 | $1.06 | ||
| Q3 24 | $-0.08 | $1.29 | ||
| Q2 24 | $-0.15 | $1.07 |
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 | $64.0M |
| Total DebtLower is stronger | $123.5M | — |
| Stockholders' EquityBook value | $663.9M | $468.0M |
| Total Assets | $942.9M | $4.2B |
| Debt / EquityLower = less leverage | 0.19× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $64.0M | ||
| Q4 25 | $98.3M | $64.0M | ||
| Q3 25 | $92.5M | $70.0M | ||
| Q2 25 | $92.2M | $50.0M | ||
| Q1 25 | $109.3M | $48.0M | ||
| Q4 24 | $108.7M | $103.0M | ||
| Q3 24 | $116.4M | $72.0M | ||
| Q2 24 | $114.3M | $70.0M |
| Q1 26 | — | — | ||
| Q4 25 | $123.5M | $2.5B | ||
| Q3 25 | $123.5M | $2.6B | ||
| Q2 25 | $125.0M | $2.5B | ||
| Q1 25 | $126.8M | $2.5B | ||
| Q4 24 | $128.5M | $2.4B | ||
| Q3 24 | $130.3M | $2.4B | ||
| Q2 24 | $130.2M | $2.4B |
| Q1 26 | — | $468.0M | ||
| Q4 25 | $663.9M | $468.0M | ||
| Q3 25 | $676.2M | $583.0M | ||
| Q2 25 | $694.1M | $570.0M | ||
| Q1 25 | $700.4M | $579.0M | ||
| Q4 24 | $698.3M | $650.0M | ||
| Q3 24 | $697.3M | $583.0M | ||
| Q2 24 | $694.9M | $623.0M |
| Q1 26 | — | $4.2B | ||
| Q4 25 | $942.9M | $4.2B | ||
| Q3 25 | $966.6M | $4.3B | ||
| Q2 25 | $985.1M | $4.3B | ||
| Q1 25 | $1.0B | $4.2B | ||
| Q4 24 | $995.6M | $4.2B | ||
| Q3 24 | $975.9M | $4.2B | ||
| Q2 24 | $947.7M | $4.2B |
| Q1 26 | — | — | ||
| Q4 25 | 0.19× | 5.37× | ||
| Q3 25 | 0.18× | 4.43× | ||
| Q2 25 | 0.18× | 4.44× | ||
| Q1 25 | 0.18× | 4.29× | ||
| Q4 24 | 0.18× | 3.72× | ||
| Q3 24 | 0.19× | 4.19× | ||
| Q2 24 | 0.19× | 3.83× |
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 | $367.0M |
| Free Cash FlowOCF − Capex | $5.9M | $168.0M |
| FCF MarginFCF / Revenue | 2.6% | 50.3% |
| Capex IntensityCapex / Revenue | 1.5% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-6.3M | $437.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $367.0M | ||
| Q4 25 | $9.2M | $152.0M | ||
| Q3 25 | $9.2M | $86.0M | ||
| Q2 25 | $-7.5M | $70.0M | ||
| Q1 25 | $19.0M | $59.0M | ||
| Q4 24 | $-2.5M | $134.0M | ||
| Q3 24 | $8.1M | $79.0M | ||
| Q2 24 | $17.5M | $1.0M |
| Q1 26 | — | $168.0M | ||
| Q4 25 | $5.9M | $136.0M | ||
| Q3 25 | $2.1M | $75.0M | ||
| Q2 25 | $-14.8M | $58.0M | ||
| Q1 25 | $496.0K | $52.0M | ||
| Q4 24 | $-6.9M | $109.0M | ||
| Q3 24 | $2.2M | $71.0M | ||
| Q2 24 | $14.6M | $-6.0M |
| Q1 26 | — | 50.3% | ||
| Q4 25 | 2.6% | 40.7% | ||
| Q3 25 | 0.9% | 19.6% | ||
| Q2 25 | -6.2% | 14.6% | ||
| Q1 25 | 0.2% | 16.5% | ||
| Q4 24 | -3.0% | 32.4% | ||
| Q3 24 | 1.0% | 17.9% | ||
| Q2 24 | 7.2% | -1.6% |
| Q1 26 | — | — | ||
| Q4 25 | 1.5% | 4.8% | ||
| Q3 25 | 3.0% | 2.9% | ||
| Q2 25 | 3.0% | 3.0% | ||
| Q1 25 | 7.6% | 2.2% | ||
| Q4 24 | 1.9% | 7.4% | ||
| Q3 24 | 2.8% | 2.0% | ||
| Q2 24 | 1.4% | 1.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 0.82× | ||
| Q2 25 | — | 0.80× | ||
| Q1 25 | — | 0.97× | ||
| Q4 24 | — | 1.58× | ||
| Q3 24 | — | 0.77× | ||
| Q2 24 | — | 0.01× |
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% |
WH
| Fee-related and other revenues | $334.0M | 100% |
| Management and other fees | $2.0M | 1% |
