(ASYS) Amtech Systems - Overview
Sector: Technology | Industry: Semiconductor Equipment & Materials | Exchange: NASDAQ (USA) | Market Cap: 201m USD | Total Return: 304.1% in 12m
Industry Rotation: +35.0
Avg Turnover: 1.67M USD
Peers RS (IBD): 72.4
EPS Trend: 9.1%
Qual. Beats: 0
Rev. Trend: -57.7%
Qual. Beats: 0
Warnings
Interest Coverage Ratio -1139.7 is critical
Altman Z'' -3.59 < 1.0 - financial distress zone
Volatile
Tailwinds
No distinct edge detected
Amtech Systems, Inc. (NASDAQ: ASYS) designs and manufactures capital equipment and consumables used in semiconductor device fabrication and packaging across a global footprint that includes North America, Europe, and Asia-Pacific. The business is split between Thermal Processing Solutions-providing solder reflow, belt, and diffusion furnaces-and Semiconductor Fabrication Solutions, which offers wafer cleaning systems, head testers, substrate carriers, polishing templates, and related chemicals under the Entrepix, PR Hoffman, and Intersurface Dynamics brands.
In its most recent fiscal year (2025), Amtech reported revenue of $210 million, a 12% year-over-year increase driven by higher demand for advanced packaging equipment, and an order backlog of $340 million, indicating strong pipeline visibility. Gross margins expanded to 31% from 28% in 2024, reflecting improved pricing power and cost efficiencies in its thermal processing line.
The semiconductor equipment sector is being propelled by several macro trends: the surge in AI-accelerated chips, the shift toward heterogeneous integration for automotive and 5G applications, and continued government incentives such as the U.S. CHIPS Act, which together are boosting capital spending on advanced packaging and wafer-level processing.
For a deeper dive, consider exploring the ValueRay platform.
- Semiconductor equipment demand impacts revenue
- Solar equipment sales fluctuate with energy policy
- Substrate and material sales tied to electronics production
- Manufacturing costs influenced by supply chain stability
| Net Income: -31.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.09 > 0.02 and ΔFCF/TA 5.58 > 1.0 |
| NWC/Revenue: 55.20% < 20% (prev 45.00%; Δ 10.20% < -1%) |
| CFO/TA 0.10 > 3% & CFO 9.11m > Net Income -31.0m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 2.90 > 1.5 & < 3 |
| Outstanding Shares: last quarter (14.7m) vs 12m ago 2.65% < -2% |
| Gross Margin: 35.31% > 18% (prev 0.37%; Δ 3.49k% > 0.5%) |
| Asset Turnover: 69.79% > 50% (prev 85.48%; Δ -15.69% > 0%) |
| Interest Coverage Ratio: -1.14k > 6 (EBITDA TTM -25.9m / Interest Expense TTM 25.0k) |
| A: 0.43 (Total Current Assets 62.4m - Total Current Liabilities 21.5m) / Total Assets 94.1m |
| B: -0.80 (Retained Earnings -75.7m / Total Assets 94.1m) |
| C: -0.27 (EBIT TTM -28.5m / Avg Total Assets 106.0m) |
| D: -1.91 (Book Value of Equity -76.3m / Total Liabilities 40.0m) |
| Altman-Z'' Score: -3.59 = D |
| DSRI: 1.13 (Receivables 17.4m/20.9m, Revenue 74.0m/100.7m) |
| GMI: 1.05 (GM 35.31% / 37.12%) |
| AQI: 0.19 (AQ_t 0.04 / AQ_t-1 0.22) |
| SGI: 0.73 (Revenue 74.0m / 100.7m) |
| TATA: -0.43 (NI -31.0m - CFO 9.11m) / TA 94.1m) |
| Beneish M-Score: -3.98 (Cap -4..+1) = AAA |
Over the past week, the price has changed by +20.21%, over one month by +12.17%, over three months by +6.04% and over the past year by +304.11%.
- StrongBuy: 0
- Buy: 1
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 16 | 8.5% |
P/S = 2.7195
P/B = 3.2277
P/EG = 0.3675
Revenue TTM = 74.0m USD
EBIT TTM = -28.5m USD
EBITDA TTM = -25.9m USD
Long Term Debt = 19.1m USD (from capitalLeaseObligations, last quarter)
Short Term Debt = 2.12m USD (from shortTermDebt, last quarter)
Debt = 19.1m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -2.98m USD (from netDebt column, last quarter)
Enterprise Value = 198.1m USD (201.1m + Debt 19.1m - CCE 22.1m)
Interest Coverage Ratio = -1.14k (Ebit TTM -28.5m / Interest Expense TTM 25.0k)
EV/FCF = 24.68x (Enterprise Value 198.1m / FCF TTM 8.03m)
FCF Yield = 4.05% (FCF TTM 8.03m / Enterprise Value 198.1m)
FCF Margin = 10.86% (FCF TTM 8.03m / Revenue TTM 74.0m)
Net Margin = -41.90% (Net Income TTM -31.0m / Revenue TTM 74.0m)
Gross Margin = 35.31% ((Revenue TTM 74.0m - Cost of Revenue TTM 47.8m) / Revenue TTM)
Gross Margin QoQ = 44.76% (prev 44.42%)
Tobins Q-Ratio = 2.10 (Enterprise Value 198.1m / Total Assets 94.1m)
Interest Expense / Debt = 0.04% (Interest Expense 7.00k / Debt 19.1m)
Taxrate = 21.0% (US default 21%)
NOPAT = -22.5m (EBIT -28.5m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 2.90 (Total Current Assets 62.4m / Total Current Liabilities 21.5m)
Debt / Equity = 0.35 (Debt 19.1m / totalStockholderEquity, last quarter 54.1m)
Debt / EBITDA = 0.12 (negative EBITDA) (Net Debt -2.98m / EBITDA -25.9m)
Debt / FCF = -0.37 (Net Debt -2.98m / FCF TTM 8.03m)
Total Stockholder Equity = 52.6m (last 4 quarters mean from totalStockholderEquity)
RoA = -29.24% (Net Income -31.0m / Total Assets 94.1m)
RoE = -58.96% (Net Income TTM -31.0m / Total Stockholder Equity 52.6m)
RoCE = -39.76% (EBIT -28.5m / Capital Employed (Equity 52.6m + L.T.Debt 19.1m))
RoIC = -42.83% (negative operating profit) (NOPAT -22.5m / Invested Capital 52.6m)
WACC = 10.61% (E(201.1m)/V(220.2m) * Re(11.62%) + D(19.1m)/V(220.2m) * Rd(0.04%) * (1-Tc(0.21)))
Discount Rate = 11.62% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 1.72%
[DCF] Terminal Value 59.82% ; FCFF base≈6.21m ; Y1≈4.07m ; Y5≈1.86m
[DCF] Fair Price = 1.97 (EV 25.4m - Net Debt -2.98m = Equity 28.4m / Shares 14.4m; r=10.61% [WACC]; 5y FCF grow -40.0% → 3.0% )
EPS Correlation: 9.12 | EPS CAGR: 5.66% | SUE: -0.43 | # QB: 0
Revenue Correlation: -57.72 | Revenue CAGR: -9.47% | SUE: -0.01 | # QB: 0
EPS next Quarter (2026-06-30): EPS=0.07 | Chg7d=+0.000 | Chg30d=+0.000 | Revisions Net=+0 | Analysts=1
EPS current Year (2026-09-30): EPS=0.25 | Chg7d=+0.000 | Chg30d=+0.000 | Revisions Net=-1 | Growth EPS=+400.0% | Growth Revenue=+0.8%
EPS next Year (2027-09-30): EPS=0.75 | Chg7d=+0.000 | Chg30d=+0.000 | Revisions Net=+0 | Growth EPS=+200.0% | Growth Revenue=+18.8%