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: 2026-11-03
| # | Company | Market | Sector | EV/EBITDA | P/E | ROE | Mcap, $bn |
|---|---|---|---|---|---|---|---|
| 1 | Super Micro Computer, Inc. SMCI | US | United States — large cap (SEC filings) | 4.0x | 8.2x | 32.5% | 18.3 |
| 2 | MICRON TECHNOLOGY INC MU | US | Technology | 8.4x | 11.2x | 109.0% | 952.8 |
| 3 | JABIL INC JBL | US | United States — large cap (SEC filings) | 12.8x | 26.7x | 98.7% | 27.8 |
| 4 | Hewlett Packard Enterprise Co HPE | US | United States — large cap (SEC filings) | 13.4x | 24.2x | 23.8% | 67.5 |
| 5 | QUALCOMM INC/DE QCOM | US | Technology | 15.2x | 18.8x | 29.2% | 174.1 |
| 6 | Ultra Clean Holdings, Inc. UCTT | US | United States — large cap (SEC filings) | 15.5x | 80.1x | 22.9% | 2.1 |
| 7 | FLEX LTD. FLEX | US | United States — large cap (SEC filings) | 15.8x | 29.7x | 18.6% | 30.8 |
| 8 | Dell Technologies Inc. DELL | US | United States — large cap (SEC filings) | 16.2x | 22.5x | -233.2% | 256.0 |
| 9 | MODINE MANUFACTURING CO MOD | US | United States — large cap (SEC filings) | 16.2x | 45.2x | 24.6% | 6.5 |
| 10 | NetApp, Inc. NTAP | US | United States — large cap (SEC filings) | 16.8x | 26.0x | 105.4% | 36.9 |
| 11 | Fabrinet FN | US | United States — large cap (SEC filings) | 18.0x | 23.5x | 16.7% | 11.3 |
| 12 | PagerDuty, Inc. PD | US | United States — large cap (SEC filings) | 18.9x | 8.3x | 13.9% | 1.5 |
| 13 | WESTERN DIGITAL CORP WDC | US | United States — large cap (SEC filings) | 20.0x | 12.2x | 78.1% | 122.2 |
| 14 | AXCELIS TECHNOLOGIES INC ACLS | US | United States — large cap (SEC filings) | 21.0x | 32.4x | 8.8% | 3.0 |
| 15 | Seagate Technology Holdings plc STX | US | United States — large cap (SEC filings) | 22.8x | 29.6x | 238.9% | 130.0 |
| 16 | INTEL CORP INTC | US | Technology | 23.2x | — | 13.1% | 299.5 |
| 17 | NVIDIA CORP NVDA | US | Technology | 24.5x | 25.5x | 112.5% | 4 910.9 |
| 18 | TEXAS INSTRUMENTS INC TXN | US | Technology | 26.3x | 38.8x | 52.2% | 275.7 |
| 19 | LAM RESEARCH CORP LRCX | US | Technology | 27.8x | 33.7x | 83.5% | 284.7 |
| 20 | Vertiv Holdings Co VRT | US | United States — large cap (SEC filings) | 27.8x | 40.9x | 59.6% | 85.8 |
| 21 | COHERENT CORP. COHR | US | United States — large cap (SEC filings) | 28.6x | 48.6x | 8.8% | 39.1 |
| 22 | Broadcom Inc. AVGO | US | Technology | 28.7x | 40.9x | 55.9% | 1 563.8 |
| 23 | CALIX, INC CALX | US | United States — large cap (SEC filings) | 29.3x | 48.9x | 9.5% | 2.5 |
| 24 | UiPath, Inc. PATH | US | United States — large cap (SEC filings) | 29.4x | 20.1x | 7.5% | 7.3 |
| 25 | RAMBUS INC RMBS | US | United States — large cap (SEC filings) | 30.2x | 34.5x | 20.7% | 9.2 |
| 26 | APPLIED MATERIALS INC /DE AMAT | US | Technology | 30.4x | 32.0x | 41.0% | 297.0 |
| 27 | KLA CORP KLAC | US | Technology | 30.9x | 38.1x | 96.2% | 200.1 |
| 28 | ANALOG DEVICES INC ADI | US | Technology | 32.1x | 48.9x | 15.9% | 202.2 |
| 29 | NOVA LTD. NVMI | US | United States — large cap (SEC filings) | 34.8x | 35.7x | 21.0% | 9.7 |
| 30 | Lumentum Holdings Inc. LITE | US | United States — large cap (SEC filings) | 40.0x | — | 31.3% | 51.1 |
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