Quick verdict: AMPL vs UCTT in 2026

In this 2026 stock comparison, Amplitude, Inc. (AMPL) holds a notable edge over Ultra Clean Holdings, Inc. (UCTT), particularly for growth-oriented investors. While both companies are currently unprofitable, AMPL demonstrates stronger revenue growth and significantly higher analyst-projected upside. UCTT, however, exhibits superior operational efficiency with less negative net and EBITDA margins. Not investment advice.

AMPL vs UCTT: key metrics side by side

Full side-by-side comparison of AMPL and UCTT across valuation, profitability, growth and analyst sentiment. Data updated 2026-05-11.

AMPL vs UCTT valuation comparison

When considering AMPL vs UCTT valuation, both companies present challenges as they are currently unprofitable, reflected in their negative P/E ratios. Amplitude, Inc. (AMPL) has a P/E of -9.51x, which, while still negative, is less deeply negative than Ultra Clean Holdings’ (UCTT) P/E of -20.33x. This suggests that AMPL is generating less loss per dollar of earnings compared to UCTT, or is closer to profitability from an earnings perspective. Furthermore, AMPL appears more attractively valued on a price-to-book (P/B) basis, trading at 3.92x compared to UCTT’s higher P/B of 6.28x.

However, a deeper look into the discounted cash flow (DCF) models reveals significant hurdles for both. AMPL’s DCF valuation suggests an alarming -131.3% downside, while UCTT’s indicates a -98.4% downside. This implies that based on current cash flow projections, both stocks are significantly overvalued relative to their intrinsic worth by this model, or analysts find it incredibly difficult to project positive future cash flows that justify their current market capitalization. Despite UCTT’s DCF being “less negative,” the extent of negative valuation for both signals considerable risk, requiring investors to perform thorough due diligence beyond these metrics for a complete AMPL vs UCTT fundamentals and valuation picture.

AMPL vs UCTT growth comparison

In the realm of growth, Amplitude, Inc. (AMPL) clearly outshines Ultra Clean Holdings, Inc. (UCTT) with its robust revenue growth. AMPL reported a year-over-year revenue growth of +14.7%, indicating strong momentum in its operations and market adoption for its digital analytics platform. This positive trajectory suggests that AMPL is successfully expanding its customer base and increasing its revenue streams in a competitive technology landscape.

In contrast, Ultra Clean Holdings (UCTT), a company operating in the semiconductor capital equipment industry, experienced a revenue decline of -2.1% year-over-year. This negative growth figure for UCTT reflects potential headwinds in its market, possibly related to cyclical downturns in the semiconductor sector or increased competition. While UCTT operates on a much larger revenue base ($2.05B compared to AMPL’s $343.214M), AMPL’s superior growth rate makes it the more appealing choice for investors prioritizing expansion and market share gains in their ampl vs uctt stock comparison 2026.

AMPL vs UCTT profitability

Examining profitability, Ultra Clean Holdings, Inc. (UCTT) demonstrates better (less negative) operational margins compared to Amplitude, Inc. (AMPL). UCTT’s net margin stands at -9.38%, which, while still indicating a loss, is significantly better than AMPL’s net margin of -25.11%. Similarly, UCTT’s EBITDA margin of -1.68% is substantially stronger than AMPL’s -23.46%, suggesting that UCTT has better control over its operating expenses relative to its revenue before interest, taxes, depreciation, and amortization. Neither company reports a calculable Return on Equity (ROE), indicating negative shareholder equity or complexities in its calculation for unprofitable firms.

However, when it comes to cash generation, AMPL takes a lead with a positive Free Cash Flow (FCF) yield of 2.61%. This is a critical metric, showing that Amplitude is generating cash from its operations after accounting for capital expenditures, despite its reported net losses. In contrast, UCTT has a negative FCF yield of -1.13%, meaning it is consuming cash rather than generating it. This divergence in FCF yield highlights that while UCTT is more efficient at reducing its losses on an accounting basis, AMPL is currently more effective at generating actual cash, which is vital for long-term sustainability and growth without relying solely on external financing.

Analyst ratings: AMPL vs UCTT

The analyst consensus for both Amplitude, Inc. (AMPL) and Ultra Clean Holdings, Inc. (UCTT) is quite similar in terms of overall sentiment, with both stocks receiving a “Buy” consensus from the 12 analysts covering each company. Both firms also share an identical 66.7% “Buy” rating percentage among their respective analyst pools, suggesting a generally positive outlook from the professional investment community on the long-term prospects of both companies despite their current unprofitability.

However, the significant difference emerges when evaluating the projected price targets and potential upside. Analysts have set a target price of $12 for AMPL, representing a substantial +87.8% upside from its current price of $6.39. This indicates a high conviction among analysts that AMPL has considerable room for appreciation. For UCTT, the consensus target price is $100, which offers a more modest +14.8% upside from its current price of $87.1. Therefore, while both stocks are “Buy” rated, analysts clearly foresee much greater growth potential and upside for Amplitude in this ampl vs uctt stock comparison 2026.

Should I buy AMPL or UCTT stock in 2026?

Deciding whether to buy AMPL or UCTT stock in 2026 depends heavily on an investor’s risk tolerance and investment objectives, particularly given that both companies are currently unprofitable. For growth-oriented investors, Amplitude, Inc. (AMPL) presents a more compelling case. With a robust 14.7% year-over-year revenue growth and a strong analyst consensus target price of $12, representing an 87.8% upside, AMPL demonstrates significant expansion potential and market confidence in its future. Its positive free cash flow yield of 2.61% also indicates a healthy ability to generate cash from operations, supporting its growth initiatives.

For value investors, the choice is less clear-cut, but AMPL appears to hold an edge on some key metrics. While both stocks carry negative P/E ratios due to unprofitability, AMPL’s P/E of -9.51x is less negative than UCTT’s -20.33x, suggesting it’s less dilutive or closer to profitability on an earnings basis. Additionally, AMPL’s price-to-book ratio of 3.92x is lower than UCTT’s 6.28x, indicating a potentially more attractive valuation relative to its assets. However, the deeply negative DCF valuations for both (-131.3% for AMPL, -98.4% for UCTT) caution against simple valuation judgments, emphasizing the high risk associated with their future profitability projections.

For investors seeking income, neither AMPL nor UCTT is suitable. Both companies currently have a 0% dividend yield, as they are focused on reinvesting capital back into their businesses, a common strategy for growth companies, especially those not yet consistently profitable. Therefore, investors prioritizing regular dividend payouts should look elsewhere. This is not investment advice; always conduct your own thorough research and consider your financial situation before making investment decisions.

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