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Amtech Systems, Inc.

ASYS Technology Semiconductor Equipment & Materials

Amtech Systems, Inc.’s revenue for fiscal 2025 (year ended September 2025) was $79.4 million, down 21.6% from fiscal 2024.

Revenue
+14.5%
EPS
+1,386.5%
Free cash flow
−47.8%
Total debt
−15.0%

Quarter to June 2026, against a year earlier

11.75 0.66 +5.95%
Market cap
$194.1M
P/E
41.8×
Fwd P/E
39.2×
Dividend yield
—
F-score
2/9
Altman Z
1.22
Beneish M
−4.73
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.08
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — 1 1 — —
Sell — — — — — — — — — — — —
Insider Ownership 16.84%

Capital & Financial Ratios $m

Size
Market Cap 194.08
Revenue ttm 81.67
Net income ttm 4.00
Free cash flow ttm 8.81
Net debt Q (83.00)
Valuation
P/E 41.83 (above 35: high)
Forward P/E 39.20 (above 35: high)
Price / sales 2.12
Forward P/S Powerpack
Price / FCF 19.62
Price / book 1.49
Financial health
Current ratio Q 5.41 (at or above 1.5: strong)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q 1,103.50
Growth
Revenue growth Q +14.45% (above 0%: growing)
Operating income growth Q +141.20% (above 0%: growing)
EPS, this year +115.09% (at or above 15%: strong)
EPS, next year A +119.79% (at or above 15%: strong)
Revenue, next year A +7.62%
EPS, past 5 yrs —
EPS, next 5 yrs A +20.00% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.1×, against a ten-year median of 0.7×; over the ten years it ranged from 0.2× in 2020 to 3.6× in 2026.
P/E against its own 10 years 63.04%
10-year low 10-year high
P/S against its own 10 years 87.86%
10-year low 10-year high
P/B against its own 10 years 69.82%
10-year low 10-year high
EV/Sales against its own 10 years 75.32%
10-year low 10-year high
EV/FCF against its own 10 years 56.55%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 13 11 18 83
Receivables 27 22 20 20
Inventory 35 27 19 20
Other 6 4 4 4
81 65 60 128
2023 2024 2025 Q'26
Payables 11 5 8 10
ST’ Debt 2 0 0 —
Other 8 9 6 6
30 20 20 24

Compound Annual Growth %

10y 5y 3y
Sales (2.75%) 3.93% (9.28%)
Cash Flow 0.00% 0.00% 14.82%
Earnings 0.00% 0.00% 0.00%
Book Value (3.03%) (8.12%) (18.43%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.10 Actual 0.14

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 −0.03 0.10 Beat by 0.13
Q1 FY26 0.07 0.03 Miss by 0.04
Q2 FY26 0.05 0.10 Beat by 0.05
Q3 FY26 0.10 0.14 Beat by 0.04
Q4 FY26 0.14 — Reports 9 December 2026

EPS $

Dec Mar Jun Sep Year
’26 0.01 0.08 0.10 — —
’25 0.02 (2.23) 0.01 0.07 (2.12)
’24 (0.66) 0.07 0.03 (0.04) (0.60)
’23 (0.20) 0.23 (0.07) (0.85) (0.89)
’22 0.07 0.14 0.73 0.30 1.22
’21 0.05 (0.02) 0.03 0.05 0.11
’20 (0.14) (0.83) (0.01) (0.14) (1.11)
Fiscal quarters ending in the months shown.

Revenue $m

Dec Mar Jun Sep Year
’26 19 20 22 — —
’25 24 16 20 20 79
’24 25 25 27 24 101
’23 22 33 31 28 113
’22 26 28 20 32 106
’21 18 20 23 24 85
’20 21 14 15 15 65
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Dec Mar Jun Sep Year
’26 4 2 1 — —
’25 3 0 3 2 8
’24 5 0 4 1 10
’23 (3) (3) (2) (1) (8)
’22 2 (3) 5 0 5
’21 0 0 (3) (3) (6)
’20 0 1 (2) (1) (2)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Dec Mar Jun Sep Year
’26 4 2 1 — —
’25 3 0 2 2 7
’24 4 2 0 1 8
’23 (3) (4) (3) (2) (11)
’22 2 (3) 25 (1) 24
’21 0 (1) (3) (5) (9)
’20 0 1 (3) (2) (4)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to September

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 120 83 100 85 65 85 106 113 101 79 82 (4.5%) 85 108 108 +10.8%
Gross margin, % 28.31 37.44 36.90 39.23 37.34 40.53 37.17 31.37 35.80 34.00 46.86 +5.7 pt
EBT (5) 4 10 6 (3) 3 19 (15) (8) (28) 7 +19.9%
EBT margin, % (4.53) 4.34 9.92 6.78 (4.76) 4.03 17.67 (13.40) (7.42) (35.27) 7.98 (30.7) pt
Net income (9) 8 5 (5) (16) 2 17 (13) (8) (30) 4 +15.1%
Per share, $
Per share, $ Revenue 9.14 6.21 6.75 5.97 4.62 6.01 7.59 8.06 7.12 5.55 5.29 (5.4%)
Earnings (0.53) 0.68 0.36 (0.36) (1.11) 0.11 1.24 (0.89) (0.60) (2.12) 0.27 +16.7%
Cash flow (0.74) 2.55 (0.93) 0.01 (0.12) (0.42) 0.37 (0.55) 0.69 0.55 0.62 n/m
Capex 0.32 (0.09) 0.29 (0.05) (0.19) (0.21) 1.34 (0.21) (0.15) (0.06) (0.05) n/m
Free cash flow (0.42) 2.45 (0.63) (0.04) (0.31) (0.63) 1.71 (0.75) 0.54 0.49 0.57 n/m
Book value 4.96 6.76 6.28 6.14 5.76 6.04 7.02 6.28 5.80 3.73 7.49 (3.1%)
Shares, m 13 13 15 14 14 14 14 14 14 14 15 +0.9%
Valuation, ×
Valuation, × P/E 0.00 18.87 15.00 0.00 0.00 103.91 6.80 0.00 0.00 0.00 41.83 14.5
P/S 0.54 2.04 0.78 0.89 1.06 1.90 1.12 0.94 0.81 1.67 2.12 1.2
P/B 1.00 1.87 0.84 0.86 0.85 1.89 1.21 1.20 1.00 2.48 1.49 1.3
EV/Sales 0.39 1.23 0.38 0.33 0.45 1.67 0.77 0.92 0.71 1.45 1.10 0.8
EV/FCF (8.50) 3.10 (4.02) (51.64) (6.76) (15.88) 3.42 (9.82) 9.34 16.49 10.21 (6.4)
Cash, $m
Cash, $m Operating cash flow (10) 34 (14) 0 (2) (6) 5 (8) 10 8 10 n/m
Capex 4 (1) 4 (1) (3) (3) 19 (3) (2) (1) (1) n/m
Free cash flow (6) 33 (9) (1) (4) (9) 24 (11) 8 7 9 n/m
Balance, $m
Balance, $m Working capital 45 71 83 78 69 66 80 51 44 40 104 (1.3%)
Net debt (18) (67) (40) (48) (40) (20) (37) 6 (11) (18) (83) (0.4%)
Shareholders’ equity 65 90 93 87 82 86 98 88 82 53 116 (2.2%)
Returns, %
Returns, % ROA (5.75) 5.89 3.11 (3.74) (13.76) 1.38 13.87 (9.30) (6.62) (28.58) 3.25 (22.8) pt
ROIC (10.51) 9.80 7.15 7.70 (0.73) 3.53 17.65 (9.87) (5.88) (49.77) 12.69 (39.3) pt
ROE (10.16) 11.72 5.78 (5.72) (18.61) 1.80 18.88 (13.48) (9.94) (44.68) 4.78 (34.5) pt
People
People Employees 470 455 468 415 296 296 327 405 328 264 — (6.2%)
Revenue/emp, $m 0.26 0.18 0.21 0.20 0.22 0.29 0.33 0.28 0.31 0.30 — +1.8%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Sep 2025 · latest quarter Jun 2026

Amtech Systems, Inc. vs peers in Semiconductor Equipment & Materials (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
COHU Cohu, Inc. $1.7B — (loss-making) 353× +37.00% (above 0%: growing) n/m +116.61% (above 0%: growing) 45.51% 7.40% Compare
AEHR Aehr Test Systems $1.6B — (loss-making) 106× +33.69% (above 0%: growing) n/m +133.16% (above 0%: growing) 42.57% (6.40%) Compare
PLAB Photronics, Inc. $1.5B 9.0× 12.3× +2.69% (above 0%: growing) +25.00% (above 0%: growing) +56.06% (above 0%: growing) 33.20% 21.06% Compare
ICHR Ichor Holdings, Ltd. $1.1B 483× 54.5× +37.36% (above 0%: growing) n/m −1,983.47% (below 0%: shrinking) 15.83% 6.94% Compare
NANO Forge Nano Holdings, Inc. $522.3M — — — — — — — Compare
ASYS Amtech Systems, Inc. $194.1M 41.8× 39.2× +14.45% (above 0%: growing) +1,386.49% (above 0%: growing) −47.84% (below 0%: shrinking) 50.01% 9.86%
INTT inTest Corporation $157.8M 104× 57.9× +25.54% (above 0%: growing) n/m +614.26% (above 0%: growing) 40.49% 1.03% Compare
ATOM Atomera Incorporated $101.8M — (loss-making) — (loss-making) +3,850.00% (above 0%: growing) n/m +5.57% (above 0%: growing) 83.54% 0.00% Compare
TRT Trio-Tech International $47.1M — (loss-making) 19.5× +39.92% (above 0%: growing) n/m +118.83% (above 0%: growing) 18.61% (1.78%) Compare
Median of peers $786.2M 104× 56.2× +37.00% — +116.61% 40.49% 1.03%

All 30 Semiconductor Equipment & Materials stocks →

Pay and ownership Proxy statement filed 23 January 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 723.58m 841.06m 108,940.00
2024 1.41b 1.47b 68,240.00
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement

Amtech Systems, Inc. (ASYS) Latest News

22 Oct

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stockrow.com/ASYS · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com