Ferrotec. Accelerating Growth Across Multiple Niche Semi Segments

Ferrotec recently reported FY’23 net sales of ¥$211 billion, up 57.5% sequentially. Operating profit of ¥35 billion was up 63% YoY. The growth rates the previous year were equally as impressive:

After a decade of modest growth, indeed with a down year in 2020, Ferrotec now appears to be on a roll.

What’s causing this change in Ferrotec’s fortunes? Indeed, what exactly does Ferrotec do? More importantly, can the heady growth rates of the past two years be sustained going forwards? Let’s dig in….