Saturday 17 October 2026
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Camtek Ltd.
CAMT Technology Semiconductor Equipment & Materials
Camtek Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $496.1 million, up 15.6% from fiscal 2024. In the quarter to June 2026, revenue grew 12.3%, EPS fell 33.3%, free cash flow grew 952.4% and total debt rose 146.1%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years.
129.47
1.91
−1.45%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend | 2026e | 2027e | 2028e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | 1.58 | 3.00 | 5.72 | 6.56 | 6.27 | 20.53 | 20.83 | 21.63 | 65.18 | 47.41 |
Analyst estimates 2026–2028 Powerpack |
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| High | 3.33 | 7.96 | 11.11 | 11.36 | 22.66 | 49.60 | 48.60 | 71.59 | 140.50 | 129.41 | |||||
| People | |||||||||||||||
| People | Employees | 498 | 274 | 295 | 322 | 356 | 404 | 446 | 565 | 284 | 315 | ||||
| Revenue/emp, $m | 0.16 | 0.34 | 0.42 | 0.42 | 0.44 | 0.67 | 0.72 | 0.56 | 1.51 | 1.57 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | 79 | 93 | 123 | 134 | 156 | 270 | 321 | 315 | 429 | 496 | ||||
| Gross margin, % | 41.01 | 48.69 | 49.36 | 48.34 | 46.99 | 50.93 | 49.81 | 46.81 | 48.91 | 50.46 | |||||
| EBT | 1 | (3) | 21 | 23 | 23 | 72 | 88 | 88 | 131 | 52 | |||||
| EBT margin, % | 1.48 | (3.41) | 16.86 | 16.99 | 15.01 | 26.67 | 27.48 | 27.79 | 30.57 | 10.55 | |||||
| Net income | 5 | 14 | 19 | 22 | 22 | 60 | 80 | 79 | 119 | 51 | |||||
| Depreciation | 2 | 2 | 2 | 2 | 2 | 3 | 5 | 7 | 12 | 12 | |||||
| Per share, $ | |||||||||||||||
| Per share, $ | Revenue | 2.24 | 2.64 | 3.40 | 3.56 | 3.96 | 6.85 | 7.27 | 7.05 | 9.48 | 10.85 | ||||
| Earnings | 0.13 | 0.39 | 0.52 | 0.57 | 0.55 | 1.38 | 1.81 | 1.76 | 2.62 | 1.11 | |||||
| Cash flow | (0.49) | 0.05 | 0.46 | 0.65 | 0.65 | 1.55 | 1.31 | 1.77 | 2.70 | 3.10 | |||||
| Capex | (0.04) | (0.09) | (0.06) | (0.04) | (0.07) | (0.11) | (0.19) | (0.18) | (0.23) | (0.32) | |||||
| Free cash flow | (0.53) | (0.04) | 0.40 | 0.62 | 0.59 | 1.44 | 1.12 | 1.59 | 2.47 | 2.78 | |||||
| Book value | 2.08 | 2.38 | 2.80 | 3.62 | 5.77 | 7.46 | 8.70 | 10.65 | 12.13 | 13.50 | |||||
| Shares, m | 35 | 35 | 36 | 38 | 39 | 39 | 44 | 45 | 45 | 46 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | 28.84 | 14.74 | 13.02 | 18.36 | 39.84 | 33.36 | 12.29 | 38.33 | 30.95 | 100.33 | ||||
| P/S | 1.48 | 2.18 | 1.99 | 3.04 | 5.54 | 6.72 | 3.08 | 9.57 | 8.52 | 10.03 | |||||
| P/B | 1.60 | 2.42 | 2.42 | 2.99 | 3.80 | 6.18 | 2.57 | 6.34 | 6.66 | 7.89 | |||||
| EV/Sales | 1.23 | 1.74 | 1.57 | 2.39 | 4.42 | 5.98 | 2.45 | 9.08 | 8.08 | 9.73 | |||||
| EV/FCF | (8.63) | (12.32) | 8.86 | 8.49 | 23.39 | 25.17 | 8.36 | 18.17 | 17.18 | 20.38 | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | (17) | 2 | 17 | 25 | 26 | 61 | 58 | 79 | 122 | 142 | ||||
| Capex | (1) | (3) | (2) | (1) | (3) | (4) | (8) | (8) | (10) | (15) | |||||
| Free cash flow | (19) | (2) | 15 | 23 | 23 | 57 | 50 | 71 | 112 | 127 | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | 54 | 64 | 81 | 116 | 205 | 430 | 468 | 450 | 496 | 790 | ||||
| Total debt | — | — | — | 1 | 1 | 195 | 196 | 197 | 198 | 520 | |||||
| Net debt | (20) | (44) | (55) | (89) | (177) | (203) | (204) | (157) | (190) | (148) | |||||
| Shareholders’ equity | 73 | 84 | 101 | 136 | 227 | 294 | 384 | 476 | 549 | 617 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | 4.27 | 12.77 | 14.72 | 14.10 | 9.50 | 13.83 | 12.68 | 10.74 | 14.11 | 4.71 | ||||
| ROIC | 2.35 | (4.68) | 26.94 | 28.89 | 28.21 | 49.06 | 28.27 | 12.82 | 18.81 | 17.10 | |||||
| ROE | 6.69 | 17.71 | 20.17 | 18.50 | 11.98 | 23.14 | 23.59 | 18.28 | 23.12 | 8.70 | |||||
Negative figures in brackets.
Fiscal years to Dec 2025 · latest quarter Jun 2026
Charts ten years each
Camtek Ltd. 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 |
|---|---|---|---|---|---|---|---|---|---|
| ONTO Onto Innovation Inc. | $11.4B | 82.0× | 48.8× | +35.30% (above 0%: growing) | +76.81% (above 0%: growing) | +30.97% (above 0%: growing) | 53.41% | 18.52% | Compare |
| AMKR Amkor Technology, Inc. | $10.9B | 18.7× | 31.1× | +25.58% (above 0%: growing) | +218.18% (above 0%: growing) | −276.02% (below 0%: shrinking) | 16.79% | 10.53% | Compare |
| NVMI Nova Ltd. | $10.5B | 37.0× | 50.8× | +15.90% (above 0%: growing) | +1.72% (above 0%: growing) | −10.48% (below 0%: shrinking) | 56.54% | 29.88% | Compare |
| FORM FormFactor, Inc. | $8.9B | 71.0× | 64.7× | +31.89% (above 0%: growing) | +500.00% (above 0%: growing) | +211.52% (above 0%: growing) | 50.70% | 22.38% | Compare |
| CAMT Camtek Ltd. | $6.1B | 170× | 52.5× | +12.31% (above 0%: growing) | −33.33% (below 0%: shrinking) | +952.40% (above 0%: growing) | 50.06% | 20.43% | |
| KLIC Kulicke and Soffa Industries, Inc. | $4.4B | 35.6× | 34.7× | +122.63% (above 0%: growing) | n/m | +856.72% (above 0%: growing) | 47.80% | 20.66% | Compare |
| ACMR ACM Research, Inc. | $4.1B | 23.6× | 36.3× | +36.01% (above 0%: growing) | +178.72% (above 0%: growing) | −19.43% (below 0%: shrinking) | 45.96% | 16.98% | Compare |
| AXTI AXT Inc | $3.8B | 1,716× | 379× | +164.77% (above 0%: growing) | n/m | +173.29% (above 0%: growing) | 44.90% | 21.90% | Compare |
| ACLS Axcelis Technologies, Inc. | $3.6B | 36.1× | 59.9× | +10.60% (above 0%: growing) | −23.23% (below 0%: shrinking) | −60.74% (below 0%: shrinking) | 42.38% | 9.43% | Compare |
| Median of peers | $6.6B | 36.6× | 49.8× | +33.59% | +127.77% | +10.24% | 46.88% | 19.59% |
Camtek Ltd. (CAMT) key facts
- Strength: Camtek Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $496.1 million, up 15.6% from fiscal 2024.
- Camtek Ltd. (CAMT) is a Semiconductor Equipment & Materials company in the Technology sector, listed on Nasdaq.
- As of October 16, 2026, CAMT traded at $129.47, a market capitalization of $6.1 billion.
- Camtek Ltd. does not currently pay a dividend.
- Return on equity was 8.70% and debt-to-equity 0.69.
- Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 6.45 (safe zone) for fiscal 2025.