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. In the quarter to June 2026, revenue grew 14.5%, EPS grew 1,386.5%, free cash flow fell 47.8% and total debt fell 15.0%, each against the same quarter a year earlier. Insiders bought in the last twelve months.

12.80 0.65 −4.83%
Market cap
$235.5M
P/E
47.9×
Fwd P/E
57.8×
Dividend yield
—
F-score
2/9
Altman Z
1.22
Beneish M
−4.73
Dividend safety
n/a
Sep '16 Sep '17 Sep '18 Sep '19 Sep '20 Sep '21 Sep '22 Sep '23 Sep '24 Sep '25
Piotroski F-Score
— 6 4 6 3 4 6 1 6 2
P/E ratio
0.00 18.87 15.00 0.00 0.00 103.91 6.80 0.00 0.00 0.00
Altman Z-Score
1.56 1.70 2.11 2.40 2.87 4.13 3.72 1.86 1.91 1.22
P/S ratio
0.54 2.04 0.78 0.89 1.06 1.90 1.12 0.94 0.81 1.67
P/FCF ratio
0.00 5.15 0.00 0.00 0.00 0.00 4.97 0.00 10.75 19.01
Altman Z″-Score (non-manufacturers)
2.34 3.05 5.17 5.96 7.21 5.64 7.16 2.76 3.16 (0.50)
Beneish M-Score
(2.36) (2.97) (2.25) (2.60) (1.85) (1.68) (1.99) (2.37) (3.24) (4.73)
P/Operating CF
(1,280.65) 7.32 11.39 (304.32) (102.73) (50.84) 1,044.90 (193.23) 93.75 58.39
P/B ratio
1.00 1.87 0.84 0.86 0.85 1.89 1.21 1.20 1.00 2.48
Price to Tangible BV
1.30 2.24 0.91 0.94 0.93 2.20 1.38 1.95 1.44 2.58
EV/Sales
0.39 1.23 0.38 0.33 0.45 1.67 0.77 0.92 0.71 1.45
EV/EBITDA
0.00 16.60 4.78 4.23 37.96 27.82 4.31 0.00 26.82 0.00
EV/Operating CF
(4.85) 2.99 (2.75) 161.49 (17.64) (23.91) 15.75 (13.51) 7.28 14.58
EV/FCF
(8.50) 3.10 (4.02) (51.64) (6.76) (15.88) 3.42 (9.82) 9.34 16.49
Quick Ratio
1.45 1.31 1.35 2.15 7.71 3.73 3.18 1.35 1.66 1.85
Current Ratio
2.18 1.83 2.74 3.53 10.24 5.35 4.55 2.73 3.20 2.94
Net Debt/EBITDA
3.71 (10.97) (5.05) (7.20) (51.61) (3.84) (1.95) (0.65) (4.04) 3.27
Debt/Assets
8.64% 4.43% 3.94% 4.39% 5.07% 11.28% 7.28% 14.29% 0.24% 0.32%
Debt/Equity
0.16 0.09 0.06 0.06 0.06 0.15 0.10 0.22 0.00 0.01
Asset Turnover
0.99 0.54 0.59 0.62 0.57 0.78 0.85 0.84 0.79 0.75
Operating CF/Net income
1.38 3.73 (2.60) (0.03) 0.11 (3.95) 0.30 0.61 (1.16) (0.26)
Capex/Depreciation
1.40 (0.49) 2.35 (0.42) (2.13) (2.15) 10.86 (0.58) (0.23) (0.04)
Interest Coverage
— — 8.23 (5.77) (2.99) 15.59 105.40 (28.79) (12.08) (1,095.69)
ROE
(10.16%) 11.72% 5.78% (5.72%) (18.61%) 1.80% 18.88% (13.48%) (9.94%) (44.68%)
ROA
(5.75%) 5.89% 3.11% (3.74%) (13.76%) 1.38% 13.87% (9.30%) (6.62%) (28.58%)
ROIC
(10.51%) 9.80% 7.15% 7.70% (0.73%) 3.53% 17.65% (9.87%) (5.88%) (49.77%)
Return on Tangible Assets
(11.52%) 10.50% 5.69% (5.88%) (19.39%) 1.89% 19.99% (20.57%) (15.11%) (60.75%)
Average Days of Receivables
80.51 161.66 66.67 55.26 70.28 100.87 85.89 87.31 81.07 91.79
Research and Development Expense of Revenue
6.65% 3.30% 2.85% 3.61% 5.06% 7.02% 6.01% 6.45% 4.14% 3.34%
Selling, General and Administrative Expense of Revenue
28.23% 29.77% 25.73% 28.53% 32.69% 29.04% 26.62% 37.07% 33.41% 36.48%
Intangible Assets out of Total Assets
0.13 0.08 0.05 0.06 0.07 0.10 0.09 0.25 0.21 0.02
Share Based Compensation of Revenue
1.16% 1.60% 0.85% 0.67% 0.50% 0.47% 0.51% 1.12% 1.51% 1.55%
Graham Net Nets
0.46 0.33 0.95 0.92 0.81 0.31 0.57 0.31 0.34 0.16
Graham Number
0.00 10.10 7.03 0.00 0.00 3.86 14.05 0.00 0.00 0.00
Earnings Yield
(10.69%) 5.30% 6.67% (6.98%) (22.80%) 0.96% 14.71% (11.76%) (10.34%) (23.03%)
Free Cash Flow Yield
(8.46%) 19.42% (12.09%) (0.72%) (6.27%) (5.53%) 20.13% (9.95%) 9.30% 5.26%
Revenue per Share
9.14 6.21 6.75 5.97 4.62 6.01 7.59 8.06 7.12 5.55
Operating CF per Share
(0.74) 2.55 (0.93) 0.01 (0.12) (0.42) 0.37 (0.55) 0.69 0.55
Capex per Share
0.32 (0.09) 0.29 (0.05) (0.19) (0.21) 1.34 (0.21) (0.15) (0.06)
Free Cash Flow per Share
(0.42) 2.45 (0.63) (0.04) (0.31) (0.63) 1.71 (0.75) 0.54 0.49
Cash per Share
2.17 5.66 3.10 3.73 3.18 2.31 3.34 0.93 0.78 1.25
Shareholders Equity per Share
4.96 6.76 6.28 6.14 5.76 6.04 7.02 6.28 5.80 3.73
Interest Debt per Share
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Book value per Share
4.96 6.76 6.28 6.14 5.76 6.04 7.02 6.28 5.80 3.73
Free Cash Flow
(5.53) 32.84 (9.42) (0.54) (4.34) (8.97) 23.98 (10.59) 7.66 6.97
Working Capital
44.86 71.14 82.67 77.62 69.09 65.76 80.31 51.47 44.50 39.70
Capital Expenditures
4.16 (1.22) 4.35 (0.71) (2.68) (3.01) 18.77 (2.89) (2.18) (0.91)
Net Current Asset Value
29.83 55.97 73.92 69.25 55.99 49.59 67.77 32.53 27.78 20.69
EV/EBIT
0.00 27.97 6.23 5.68 0.00 38.26 4.74 0.00 0.00 0.00
Capex to Sales
(0.03) 0.01 (0.04) 0.01 0.04 0.04 (0.18) 0.03 0.02 0.01
Price to Operating Income
0.00 46.44 12.83 15.35 0.00 43.54 6.89 0.00 0.00 0.00
Other line items
Depreciation/Fixed assets
0.19 0.16 0.18 0.17 0.10 0.10 0.26 0.52 0.81 2.26
Cash ROIC
(5.31%) 18.79% (6.50%) (0.37%) (3.29%) (6.82%) 15.47% (8.75%) 8.18% 9.73%
Accounts Receivable Turnover
4.86 2.62 3.63 5.46 5.14 4.71 4.38 4.35 4.08 3.74
Accounts Payable Turnover
5.56 2.81 4.44 9.20 11.64 9.29 8.60 8.59 8.04 8.00
Inventory Turnover
3.71 1.95 2.63 2.92 2.36 2.58 2.81 2.58 2.11 2.30
Average Days of Payables
65.16 151.40 39.70 30.87 23.81 59.27 39.90 50.76 30.08 53.90
Days of Inventory on Hand
98.28 212.19 103.11 123.83 153.73 159.00 139.30 163.55 150.91 130.60
Average Receivables
24.76 31.67 27.54 15.57 12.74 18.08 24.28 26.06 24.79 21.22
Average Payables
15.52 18.48 14.21 5.62 3.52 5.45 7.77 9.06 8.09 6.55
Average Inventory
23.28 26.72 24.02 17.68 17.40 19.68 23.78 30.17 30.86 22.81
Average Assets
121.94 155.03 170.51 137.94 114.29 109.51 125.22 135.28 128.17 106.09
Average Common Equity
68.99 77.91 91.79 90.27 84.49 83.58 92.00 93.37 85.36 67.87

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