Axcelis Technologies, Inc. (ACLS) vs Camtek Ltd. (CAMT)

Axcelis Technologies, Inc. and Camtek Ltd. are both Semiconductor Equipment & Materials companies. Camtek Ltd. is the larger, with a market value of $4.3B against $2.8B — 1.5× the size. Axcelis Technologies, Inc. trades at the lower P/E: 26.6× against 122×. Camtek Ltd. grew revenue faster over the last twelve months: 11.8% against 4.35%. Axcelis Technologies, Inc. has the higher net margin (11.8% vs 7.03%) and the lower return on invested capital (8.43% vs 13.0%). Across the 22 metrics below, Axcelis Technologies, Inc. leads on 14 and Camtek Ltd. on 8.

Valuation

Metric ACLS CAMT Semiconductor Equipment & Materials median
P/E 26.59 121.83 33.70
P/S 3.13 8.57 4.22
P/B 2.50 6.08 2.94
Price to free cash flow 46.45 18.65 31.49
EV/EBITDA 22.71 33.92 22.64
EV/Sales 2.66 8.29 4.97
Earnings yield 3.76% 0.82% 2.02%
Free cash flow yield 2.15% 5.36% 2.27%

Profitability

Metric ACLS CAMT Semiconductor Equipment & Materials median
Gross margin 42.81% 50.23% 46.86%
Operating margin 10.31% 23.46% 12.02%
Net margin 11.75% 7.03% 10.16%
Free cash flow margin 6.73% 0.00% 6.73%
Return on equity 9.80% 5.31% 5.31%
Return on assets 7.39% 3.07% 4.10%
Return on invested capital 8.43% 13.01% 6.36%

Growth

Metric ACLS CAMT Semiconductor Equipment & Materials median
Revenue growth (TTM) 4.35% 11.83% 15.82%
EPS growth (last fiscal year) (38.21%) (57.02%) (4.56%)
Revenue growth, 5-year CAGR 12.07% 26.06% 10.11%
Net income growth, 5-year CAGR 19.19% 18.42% 0.00%

Health

Metric ACLS CAMT Semiconductor Equipment & Materials median
Debt to equity 0.04 0.69 0.09
Current ratio 4.43 7.38 3.56
Net debt to EBITDA (2.51) (1.06) (0.49)

Dividend

Metric ACLS CAMT Semiconductor Equipment & Materials median
Dividend yield — 0.00% 0.59%
Payout ratio — 0.00 0.16

Size

Metric ACLS CAMT Semiconductor Equipment & Materials median
Market cap 2.78b 4.29b 3.04b

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