The AI value chain - chipmakers, semi-cap equipment, memory, optical/networking, AI servers and infrastructure - ranked by lowest EV/EBITDA (LTM). Recomputed daily from filings and market quotes. Not investment advice. Updated: 2026-08-05
| # | Company | Market | Sector | EV/EBITDA | P/E | ROE | Mcap, $bn |
|---|---|---|---|---|---|---|---|
| 1 | Seagate Technology Holdings plc STX | US | United States — large cap (SEC filings) | 2.3x | 3.2x | 128.4% | 10 089.6 |
| 2 | Super Micro Computer, Inc. SMCI | US | United States — large cap (SEC filings) | 10.9x | 14.4x | 8.8% | 18.0 |
| 3 | MICRON TECHNOLOGY INC MU | US | Technology | 14.6x | 19.9x | 43.5% | 1 004.8 |
| 4 | QUALCOMM INC/DE QCOM | US | Technology | 15.2x | 18.3x | 9.7% | 169.2 |
| 5 | PagerDuty, Inc. PD | US | United States — large cap (SEC filings) | 15.6x | 5.5x | 8.7% | 1.0 |
| 6 | JABIL INC JBL | US | United States — large cap (SEC filings) | 18.0x | 42.2x | 27.5% | 36.4 |
| 7 | Hewlett Packard Enterprise Co HPE | US | United States — large cap (SEC filings) | 18.1x | 45.1x | 10.0% | 70.2 |
| 8 | NetApp, Inc. NTAP | US | United States — large cap (SEC filings) | 19.6x | 29.1x | 119.6% | 37.1 |
| 9 | Datadog, Inc. DDOG | US | United States — large cap (SEC filings) | 23.4x | 0.8x | 5.4% | 102.9 |
| 10 | Dell Technologies Inc. DELL | US | United States — large cap (SEC filings) | 23.5x | 35.9x | -233.2% | 301.6 |
| 11 | FLEX LTD. FLEX | US | United States — large cap (SEC filings) | 23.8x | 45.8x | 21.4% | 44.6 |
| 12 | MODINE MANUFACTURING CO MOD | US | United States — large cap (SEC filings) | 24.6x | 71.3x | 24.6% | 10.3 |
| 13 | TEXAS INSTRUMENTS INC TXN | US | Technology | 27.9x | 41.6x | 45.5% | 251.9 |
| 14 | ANALOG DEVICES INC ADI | US | Technology | 31.3x | 55.8x | 13.9% | 184.9 |
| 15 | NVIDIA CORP NVDA | US | Technology | 32.2x | 33.4x | 132.3% | 5 327.9 |
| 16 | CALIX, INC CALX | US | United States — large cap (SEC filings) | 33.0x | 52.1x | 9.4% | 2.7 |
| 17 | Ultra Clean Holdings, Inc. UCTT | US | United States — large cap (SEC filings) | 33.7x | — | 5.5% | 3.6 |
| 18 | AXCELIS TECHNOLOGIES INC ACLS | US | United States — large cap (SEC filings) | 34.7x | 42.8x | 3.5% | 4.3 |
| 19 | RAMBUS INC RMBS | US | United States — large cap (SEC filings) | 36.0x | 43.8x | 18.9% | 10.5 |
| 20 | Fabrinet FN | US | United States — large cap (SEC filings) | 37.2x | 44.7x | 7.4% | 18.8 |
| 21 | Vertiv Holdings Co VRT | US | United States — large cap (SEC filings) | 41.6x | 61.4x | 44.2% | 106.3 |
| 22 | KLA CORP KLAC | US | Technology | 44.8x | 52.7x | 28.4% | 254.5 |
| 23 | Broadcom Inc. AVGO | US | Technology | 45.6x | 69.2x | 44.4% | 2 029.9 |
| 24 | NOVA LTD. NVMI | US | United States — large cap (SEC filings) | 46.1x | 48.5x | 20.5% | 12.8 |
| 25 | APPLIED MATERIALS INC /DE AMAT | US | Technology | 48.2x | 49.8x | 49.2% | 423.7 |
| 26 | COHERENT CORP. COHR | US | United States — large cap (SEC filings) | 50.9x | 108.9x | 2.7% | 51.1 |
| 27 | UiPath, Inc. PATH | US | United States — large cap (SEC filings) | 51.5x | 23.0x | 4.5% | 7.5 |
| 28 | Arista Networks, Inc. ANET | US | Technology | 53.8x | 62.2x | 34.3% | 251.7 |
| 29 | LAM RESEARCH CORP LRCX | US | Technology | 54.0x | 65.1x | 23.5% | 390.0 |
| 30 | FORMFACTOR INC FORM | US | United States — large cap (SEC filings) | 58.5x | 77.6x | 20.7% | 9.0 |
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