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Amtech Systems Inc (ASYS) stock

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NASDAQ: ASYS Nasdaq Semiconductor Materials & Equipment

C Fundamentals grade

Amtech Systems Inc is a US-listed company in the semiconductor materials & equipment industry. Its financial year ends in September.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$9.3

Cash-flow model

Base case. Range ~$8.2–$11 across our lower- and higher-growth cases (-3%–7% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 25% below it.

Price used: $12.32, November 2, 2026

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders2 buying, 0 selling2 purchases and 0 sales by directors and officers, last 12 monthsInsider trades
  • Funds85 adding, 32 cuttingOf 27 active managers that changed their stake, 17 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Amtech Systems files

Where Amtech Systems stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $82m, down 2.4% on a year earlier, a smaller fall than the 13.2% decline a quarter earlier. That puts it 14 of 16 for growth among the semiconductor materials & equipment companies we cover. Free-cash-flow margin rose to 10.7% from 7.4% a year earlier. Operating margin widened to 8.1% from -36.2%. The diluted share count is up 5.0% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 3 of our 3 financial-health checks. Our cash-flow model value is $9.33 a share, against a share price of $13.86. At that price, our model says the market is pricing in about 15.1% a year of cash-flow growth for five years, faster than the -0.8% a year revenue growth it has delivered.

Source: 10-Q filed August 5, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Amtech Systems Inc's trailing-twelve-month revenue fell 2.4% year on year, with a free-cash-flow margin of 10.7%. Where it stands out: long-term debt as % of assets of 0.1% ranks 1 of 13 semiconductor materials & equipment companies we cover. Where it lags: change in share count of 5.0% ranks 18 of 19 semiconductor materials & equipment companies we cover.

Our discounted-cash-flow model values the business at ~$9.3 per share in the base case (~$8.2–$11 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Balance sheet growing far ahead of sales: Total assets grew 75% year over year while revenue fell 2% — the balance sheet is expanding 78 points faster than the business it supports.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Strengths

  • Margins widening. Operating margin is up 44.3 points on a year ago.
  • Net cash. Cash exceeds long-term debt by $0.1bn.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 66.7% over 90 days.

Things to watch

  • Priced above our value. The share price of $12.32 is 25% above our value per share of $9.
  • Revenue shrinking. Revenue fell 2.4% over the last 12 months.
  • Share dilution. Diluted shares rose 5.0% in a year.
  • High earnings multiple. The shares trade at 46 times the last 12 months' earnings, so expectations are demanding.
  • Volatile shares. Over the past year the shares showed annualised volatility of 86% and a beta of 2.7 against the S&P 500.
  • Heavily shorted. 11.2% of the shares available to trade are sold short (5.2 days of average volume to cover).

Latest results: FY2026 Q3

Filed August 5, 2026
Earnings per share
$0.14 against an average estimate of $0.10: beat by 40.0%
Revenue
$22m, up 14.5% on a year earlier
Share reaction
-14.3% in the first session after the results on August 5, 2026, against -0.4% for the S&P 500
Guidance given
revenues $22.5m to $24m (fourth fiscal quarter ending September 30, 2026)
Next report
August 5, 2026; average EPS estimate $0.14

Amtech Systems' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-3.4%
  • 1 week-2.5%
  • 1 month-31.6%
  • This year-1.8%
  • 1 year+55.4%
  • 5 years-16.3%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$81.7M
Operating margin
8.1%
Net margin
4.9%
EPS (TTM, diluted)
$0.27

Growth

Revenue growth
−2.4%
Change in growth rate
+10.8 pts
Share count change
+5.0%

Cash

Free cash flow (TTM)
$8.7M
FCF margin
10.7%
Stock pay % of revenue
1.5%

Earnings

Last results
August 5, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Leadership
  2. Results
  3. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

What the price is pricing in

The share price implies about 15.8% a year of cash-flow growth for five years.That is faster than the -0.8% a year revenue growth Amtech Systems has delivered.

  • Priced in15.8%
  • Last 12 months-2.4%
  • 3 years a year-11.5%
  • 5 years a year-0.8%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($13.02, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$9.3
Price used
$13.02close November 3, 2026
Implied change
▼ 29%
Uncertainty
Low

How we got here: a discounted-cash-flow model of Amtech Systems Inc's free cash flow after stock-based pay with after-tax interest added back ($4M, FY2026 Q3 TTM), growing 14.7% and 5.3% in the next two years (forecasts, guidance and its record), then back to 2% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$8.2–~$11 ; that spread sets a 15% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Amtech Systems Inc's free cash flow after stock-based pay ( $4M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Amtech Systems Inc as an operating company, with every model that fits that kind of business. Cost of equity 11.1%: the 10-year Treasury yield (4.9%) plus a beta of 1.37 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$9.3 ~$8.2–$11 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$7.8 ~$7.2–$8.6 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$8.8 ~$7.8–$9.3 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Amtech Systems Inc with Semiconductor Materials & Equipment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −16%
  • Revenue growth 5 points higher ▲ +21%
  • Free-cash-flow margin 1 point lower ▼ −6%
  • Last year's free-cash-flow margin change, if it persists ▲ +24%
  • Discount rate 1 point higher ▼ −9%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $8$9$11$13$16$19
8.5% $7$8$9$11$13$15
10% $7$7$8$9$11$13

Valuation multiples over time Market data may be delayed

Amtech Systems Inc: market value and multiples by fiscal year
At fiscal year end 2016201720182019202020212022202320242025Now
Share price$4.96$11.98$5.34$5.30$4.89$11.43$8.50$7.62$5.80$9.26$12.32
Market value$65m$162m$80m$76m$69m$164m$121m$107m$82m$132m$185m
+ Net debt (− = net cash)−$17m−$43m−$38m−$47m−$40m−$28m−$47m−$2m−$11m−$18m−$83m
Enterprise value$48m$119m$43m$28m$29m$136m$74m$105m$72m$115m$102m
Multiples
Price / sales 0.5x1.9x0.8x0.9x1.1x1.9x1.1x0.9x0.8x1.7x2.3x
Price / earnings —17.7x15.2x——108.7x6.9x———46.2x
Price / free cash flow —4.9x————29.6x—16.6x19.1x21.1x
EV / EBITDA —19.4x5.4x4.3x38.0x26.5x3.9x———11.2x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

38 /100

Weak moat

How hard Amtech Systems's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 8 / 20

    Cash operating profit has been a median 7.4% of total assets over 10 years.

  • Pricing power 8 / 20

    Gross margin has been a median 36.0%, moving by 6.4 percentage points (standard deviation) across 10 years.

  • Durability 0 / 20

    Operating margin has been a median 2.0%; its worst year was -36.2%.

  • Cash conversion 7 / 20

    Free cash flow was positive in 6 of 10 years, at a median 1.2% of revenue.

  • Discipline 15 / 20

    The diluted share count rose 5.8% over five years; stock-based pay has been a median 0.7% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Amtech Systems Inc: consensus estimates
Fiscal yearEPSGrowthRevenueGrowth
Current $0.41 +720% $85m +8%
Next $1.25 +205% $108m +27%

Next year's EPS estimate has moved +66.7% in 90 days, across 1 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +64.0% on 90 days ago. In the last 30 days, 1 analyst raised Amtech Systems Inc's forecast and 0 cut it.

Consensus EPS forecast Amtech Systems Inc, last 90 days
$0.00 $0.50 $1.00 $1.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.25 Current fiscal year, 60 days ago: $0.32 Current fiscal year, 30 days ago: $0.32 Current fiscal year, 7 days ago: $0.32 Current fiscal year, Now: $0.41 $0.41 Next fiscal year, 90 days ago: $0.75 Next fiscal year, 60 days ago: $0.80 Next fiscal year, 30 days ago: $0.80 Next fiscal year, 7 days ago: $0.80 Next fiscal year, Now: $1.25 $1.25

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.25$0.75
60 days ago $0.32$0.80
30 days ago $0.32$0.80
7 days ago $0.32$0.80
Now $0.41$1.25

Earnings against estimates

Amtech Systems Inc: reported EPS against the consensus estimate
Quarter toEstimateActualSurprise
Jun 2026 $0.10 $0.14 +40.0%
Mar 2026 $0.05 $0.10 +100.0%
Dec 2025 $0.07 $0.03 −57.1%
Sept 2025 $0.01 $0.10 +1900.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 5, 2026
  • revenues fourth fiscal quarter ending September 30, 2026 $22.5m to $24m
    “For the fourth fiscal quarter ending September 30, 2026, the Company expects revenues in the range of $22.5 million to $24.0 million.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Amtech Systems Inc's revenue by +14.7% next year and +5.3% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+25.6%, weight 25%) , management guidance (+17.2%, weight 45%) and the company's own record (+2.0%, weight 30%) . How the weights are set.

Analyst recommendations

2 analysts, Oct 2026
Buy2100%
Hold00%
Sell00%

Monthly trend

  1. Oct 202622
  2. Sep 202611
  3. Aug 202611

Counts of recommendations published by analysts covering Amtech Systems Inc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
11.2%
of tradable shares
Days to cover
5.22
at average volume
Short interest, 1 month
−14%
to October 15, 2026
Held by institutions
88%
of shares
Held by insiders
9.1%
of shares
Employees
264
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +55.4%

$7.93 on October 31, 2025 to $12.32

Amtech Systems Inc: share-price change split into its parts
PartThenNowEffect
Revenue (last 12 months) $84m $82m −2.4%
P/S multiple 1.4x 2.3x +67.1%
Share count 14m 15m −4.8%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +66.3%

$7.41 on November 3, 2023 to $12.32

Amtech Systems Inc: share-price change split into its parts
PartThenNowEffect
Revenue (last 12 months) $118m $82m −30.7%
Net margin 3.1% 4.9% +59.7%
P/E multiple 28.8x 46.2x +60.1%
Share count 14m 15m −6.1%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Amtech Systems Inc: yearly return, monthly win rate and worst fall against the S&P 500
Calendar year 202120222023202420252026 to date
Return
ASYS+55%−23%−45%+30%+130%−2%
Industry peers (median)+67%−39%+44%−4%+27%+28%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
ASYS50%42%42%42%50%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
ASYS−44%−42%−67%−23%−43%−49%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 78% from November 15, 2021 to April 21, 2025. Getting back needed a 363% gain, reached on January 20, 2026, 274 days after the low.

Price behaviour

52-week range
$7.05 – $23.99
From 52-week high
−48.6%
vs 50-day average
−16.8%
vs 200-day average
−23.4%
Volatility (1 year)
86%
Beta vs S&P 500
2.69

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±12.0%
After a week
7 up, 5 down
typical move ±16.6%
After a month
7 up, 5 down
typical move ±21.4%
Amtech Systems Inc: share-price change after each results release
Results releasedNext dayS&P 500 next day5 days21 days
August 5, 2026 −14.3% −0.4% −8.6% −17.6%
May 7, 2026 +18.1% +0.5% +23.4% +8.3%
February 5, 2026 −29.4% +0.6% −30.2% −18.5%
December 10, 2025 +24.6% +0.9% +38.2% +57.7%
August 6, 2025 +12.9% +0.7% +9.5% +42.4%
May 12, 2025 +1.7% +4.0% +14.9% +21.0%
April 9, 2025 −14.1% +5.7% −15.8% −19.3%
February 5, 2025 −4.8% +0.8% −7.8% −3.4%
December 9, 2024 −5.8% −0.8% −4.3% −8.2%
August 7, 2024 +2.1% +1.6% +20.9% +16.9%
May 8, 2024 +10.3% +0.6% +12.6% +26.7%
February 9, 2024 +6.4% +0.5% +13.5% +16.7%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Amtech Systems Inc’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Amtech Systems Inc in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Amtech Systems Inc
$60M $80M $100M $120M FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $113.3M Revenue (TTM), FY24 Q1: $116.7M Revenue (TTM), FY24 Q2: $108.8M Revenue (TTM), FY24 Q3: $104.8M Revenue (TTM), FY24 Q4: $101.2M Revenue (TTM), FY25 Q1: $100.7M Revenue (TTM), FY25 Q2: $90.8M Revenue (TTM), FY25 Q3: $83.6M Revenue (TTM), FY25 Q4: $79.4M Revenue (TTM), FY26 Q1: $74M Revenue (TTM), FY26 Q2: $78.8M Revenue (TTM), FY26 Q3: $81.7M $81.7M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $113.3M
FY24 Q1 $116.7M
FY24 Q2 $108.8M
FY24 Q3 $104.8M
FY24 Q4 $101.2M
FY25 Q1 $100.7M
FY25 Q2 $90.8M
FY25 Q3 $83.6M
FY25 Q4 $79.4M
FY26 Q1 $74M
FY26 Q2 $78.8M
FY26 Q3 $81.7M
Revenue growth, TTM YoY Amtech Systems Inc
-40% -20% 0% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 6.6% Revenue growth, TTM YoY, FY24 Q1: 15.1% Revenue growth, TTM YoY, FY24 Q2: 1.5% Revenue growth, TTM YoY, FY24 Q3: -11.1% Revenue growth, TTM YoY, FY24 Q4: -10.7% Revenue growth, TTM YoY, FY25 Q1: -13.7% Revenue growth, TTM YoY, FY25 Q2: -16.5% Revenue growth, TTM YoY, FY25 Q3: -20.2% Revenue growth, TTM YoY, FY25 Q4: -21.6% Revenue growth, TTM YoY, FY26 Q1: -26.5% Revenue growth, TTM YoY, FY26 Q2: -13.2% Revenue growth, TTM YoY, FY26 Q3: -2.4% -2.4%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 6.6%
FY24 Q1 15.1%
FY24 Q2 1.5%
FY24 Q3 -11.1%
FY24 Q4 -10.7%
FY25 Q1 -13.7%
FY25 Q2 -16.5%
FY25 Q3 -20.2%
FY25 Q4 -21.6%
FY26 Q1 -26.5%
FY26 Q2 -13.2%
FY26 Q3 -2.4%
Operating margin (TTM) Amtech Systems Inc
-40% -20% 0% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: -13.2% Operating margin (TTM), FY24 Q1: -18.2% Operating margin (TTM), FY24 Q2: -18.7% Operating margin (TTM), FY24 Q3: -17.6% Operating margin (TTM), FY24 Q4: -6.6% Operating margin (TTM), FY25 Q1: 2.5% Operating margin (TTM), FY25 Q2: -33.5% Operating margin (TTM), FY25 Q3: -36.2% Operating margin (TTM), FY25 Q4: -35.9% Operating margin (TTM), FY26 Q1: -37.9% Operating margin (TTM), FY26 Q2: 6.8% Operating margin (TTM), FY26 Q3: 8.1% 8.1%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 -13.2%
FY24 Q1 -18.2%
FY24 Q2 -18.7%
FY24 Q3 -17.6%
FY24 Q4 -6.6%
FY25 Q1 2.5%
FY25 Q2 -33.5%
FY25 Q3 -36.2%
FY25 Q4 -35.9%
FY26 Q1 -37.9%
FY26 Q2 6.8%
FY26 Q3 8.1%
FCF margin (TTM) Amtech Systems Inc
-10% 0% 10% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: -9.4% FCF margin (TTM), FY24 Q1: -3.1% FCF margin (TTM), FY24 Q2: -0.9% FCF margin (TTM), FY24 Q3: 2.0% FCF margin (TTM), FY24 Q4: 4.9% FCF margin (TTM), FY25 Q1: 3.4% FCF margin (TTM), FY25 Q2: 5.0% FCF margin (TTM), FY25 Q3: 7.4% FCF margin (TTM), FY25 Q4: 8.7% FCF margin (TTM), FY26 Q1: 10.9% FCF margin (TTM), FY26 Q2: 12.3% FCF margin (TTM), FY26 Q3: 10.7% 10.7%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 -9.4%
FY24 Q1 -3.1%
FY24 Q2 -0.9%
FY24 Q3 2.0%
FY24 Q4 4.9%
FY25 Q1 3.4%
FY25 Q2 5.0%
FY25 Q3 7.4%
FY25 Q4 8.7%
FY26 Q1 10.9%
FY26 Q2 12.3%
FY26 Q3 10.7%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Amtech Systems Inc: annual financial statements
Fiscal year 2009 Sept 2009 2010 Sept 2010 2011 Sept 2011 2012 Sept 2012 2013 Sept 2013 2014 Sept 2014 2015 Sept 2015 2016 Sept 2016 2017 Sept 2017 2018 Sept 2018 2019 Sept 2019 2020 Sept 2020 2021 Sept 2021 2022 Sept 2022 2023 Sept 2023 2024 Sept 2024 2025 Sept 2025 LTM Jun 2026
Income
Revenue 53 120 247 82 35 57 105 120 83 100 85 65 85 106 113 101 79 82
Gross profit 15 43 91 9 4 12 27 34 31 37 33 24 35 40 36 36 27 38
EBITDA −0 18 41 −30 −17 −11 −10 −5 6 8 7 1 5 19 −10 −4 −26 9
Operating income −2 16 38 −33 −20 −13 −14 −8 4 6 5 −0 4 17 −15 −7 −28 7
Net income −2 10 23 −23 −20 −13 −8 −7 9 5 −5 −16 2 17 −13 −8 −30 4
Diluted EPS −$0.18 $1.04 $2.34 −$2.43 −$2.11 −$1.34 −$0.65 −$0.53 $0.68 $0.35 −$0.36 −$1.11 $0.11 $1.22 −$0.89 −$0.60 −$2.12 $0.27
Growth (year on year)
Revenue — +126.6% +105.6% −66.9% −57.3% +62.4% +85.6% +14.7% −30.9% +20.4% −15.0% −23.0% +30.2% +24.8% +6.6% −10.7% −21.6% −2.4%
EBITDA — — +132.5% −173.3% — — — — — +29.2% −16.7% −88.3% — +271.2% −152.4% — — —
Operating income — — +140.6% −186.2% — — — — — +66.8% −19.0% −109.9% — +364.1% −186.6% — — —
Net income — — +139.3% −200.7% — — — — — −41.9% −197.3% — — — −172.4% — — —
Diluted EPS — — +125.0% −203.8% — — — — — −48.5% −202.9% — — — −173.0% — — —
Margins
Gross margin 28.4% 35.6% 36.7% 11.3% 12.4% 20.6% 25.8% 28.3% 37.4% 36.9% 39.2% 37.3% 40.5% 37.2% 31.4% 35.8% 34.0% 46.9%
EBITDA margin −0.7% 14.7% 16.7% −36.9% −49.8% −18.9% −9.7% −4.1% 7.4% 7.9% 7.8% 1.2% 6.0% 17.9% −8.8% −3.7% −32.4% 11.1%
Operating margin −3.7% 13.3% 15.5% −40.5% −57.5% −23.2% −12.9% −6.6% 4.4% 6.1% 5.8% −0.7% 4.4% 16.3% −13.2% −6.6% −35.9% 8.1%
Net margin −3.0% 8.0% 9.3% −28.2% −57.7% −23.1% −7.4% −5.8% 11.0% 5.3% −6.1% −24.0% 1.8% 16.3% −11.1% −8.4% −38.2% 4.9%
Free-cash-flow margin 12.1% 10.7% 4.2% −16.9% −29.1% −20.4% −10.2% −8.9% 39.5% −15.3% −0.6% −6.6% −10.5% 3.8% −9.4% 4.9% 8.7% 10.7%
Cash flow
Cash from operations 8 16 15 −12 −10 −11 −10 −10 34 −14 0 −2 −6 5 −8 10 8 10
Capital spending 1 3 5 1 0 0 1 1 1 1 1 3 3 1 3 5 1 1
Free cash flow 6 13 10 −14 −10 −12 −11 −11 33 −15 −1 −4 −9 4 −11 5 7 9
Stock-based pay 1 1 1 2 2 1 1 1 1 1 1 0 0 1 1 2 1 1
Free cash flow after stock pay 6 12 9 −16 −13 −12 −12 −12 31 −16 −1 −5 −9 4 −12 3 6 8
Balance sheet
Cash 42 57 67 47 37 27 26 28 51 46 53 45 33 47 13 11 18 83
Total debt 0 0 0 0 0 0 9 10 8 8 6 5 5 0 11 0 0 0
Net debt (negative = net cash) −42 −57 −67 −47 −37 −27 −16 −17 −43 −38 −47 −40 −28 −47 −2 −11 −18 −83
Diluted shares 9m 9,237m 10m 9m 10m 10m 12m 13m 14m 15m 14m 14m 14m 14m 14m 14m 14m 15m
Returned to shareholders
Buybacks 0 0 0 4 0 0 — 0 0 4 — 2 — 4 — — — —
Total returned 0 0 0 4 0 0 — 0 0 4 — 2 — 4 — — — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 3 checks passed · June 30, 2026
What it owns · $157m
Short-term assets $128mLonger-term assets $29m
What it owes, and who funded it · $157m
Short-term liabilities $24mLonger-term liabilities $18mShareholders' equity $116m
  • Short-term assets cover short-term liabilities $128m of assets due within a year against $24m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $128m short-term assets against $18m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of $7m against $25,000 of interest.

From Amtech Systems Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+5.0%
year over year
Sales & admin spending
34.8%
of revenue
Days sales outstanding
88 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in semiconductor materials & equipment
Growth, margins and cash generation against peers
Last 12 months unless stated ASYS AXTI AEHR SOTK CAMT COHU Median
Revenue, last 12 months $82m $126m $50m $22m $496m $569m $994m
Revenue growth, last 12 months −2.4% 45.8% −15.2% 4.4% 15.6% 34.0% 15.8%
Revenue growth, 3-year average −11.5% 7.9% −8.4% 9.3% 79.8% −6.2% 7.8%
Revenue growth, latest quarter 14.5% 164.8% 33.7% 1.3% — 37.0% 33.7%
Gross margin 46.9% 32.2% 35.3% 52.5% 50.5% 42.7% 47.7%
Operating margin 8.1% 3.1% −28.3% 10.2% 25.8% −2.4% 13.2%
Operating margin, 3-year average −15.2% −15.1% −7.6% 7.6% 16.3% −10.5% 16.0%
Net margin 4.9% 3.2% −14.3% 9.3% 10.2% −4.0% 10.9%
Cash from operations / revenue 11.7% −4.6% −6.6% 34.6% 28.6% 11.6% 18.6%
Free-cash-flow margin 10.7% −15.6% −10.8% 33.6% 25.6% 9.8% 15.0%
Free-cash-flow margin, 3-year average 6.7% −16.5% −10.1% 8.5% 15.0% 0.6% 11.9%
Stock pay / revenue 1.5% 3.0% 13.5% 1.6% 3.4% 4.0% 2.4%
Change in share count 5.0% 18.1% 3.7% −0.0% 1.2% 4.7% 0.8%

Median of all 20 companies we cover in semiconductor materials & equipment. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

20 semiconductor materials & equipment companies
Measures ranked against peers
Measure Company Peer median Rank
Revenue growth Growth -2.4% 15.8% 17 of 20
Change in growth rate Growth +10.8pp +7.5pp 7 of 20
Gross margin Profitability 46.9% 48.2% 13 of 19
Operating margin Profitability 8.1% 13.2% 14 of 19
Net margin Profitability 4.9% 11.1% 15 of 20
Free-cash-flow margin Cash generation 10.7% 17.5% 12 of 20
Stock pay as % of revenue Cash generation 1.5% 2.5% 4 of 20
Long-term debt as % of assets Balance sheet 0.1% 22.0% 1 of 13
Change in share count Balance sheet 5.0% 0.9% 18 of 19
Days sales outstanding Balance sheet 88 days 79 days 12 of 16

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to September 30, 2025
Segments
Line of business Revenue Share YoY
Thermal Processing Solutions $58.1M 73.2% ▼ 16.1%
Semiconductor Fabrication Solutions $21.3M 26.8% ▼ 33.5%
Geography
Region Revenue Share YoY
United States $45.2M 56.9% ▼ 38.4%
China $30.8M 38.8% ▲ 28.2%
Other Geographic Location $3.4M 4.2% ▼ 12.4%

From Amtech Systems Inc's 10-K filed December 10, 2025, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Reported value
$261M
Institutions reporting
112
Shares held vs prior quarter
▲ 51.4%
Positions opened / closed
46 / 12

Top buyers and sellers, Q2 2026: 85 institutions bought and 32 sold ; the biggest buyer was Aigh Capital Management LLC (+1.3M shares) and the biggest seller Pacific Ridge Capital Partners, LLC (−405K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
First Eagle Investment Management, LLC $39.2M 1.7M 15.0% ▲ 103.8%
Aigh Capital Management LLC $28.9M 1.3M 11.1% New
Blackrock, Inc. $17.6M 763K 6.8% ▲ 424.9%
Awm Investment Company, Inc. $15.9M 690K 6.1% New
Vanguard Capital Management LLC $13.4M 581K 5.1% ▲ 2.9%
Acadian Asset Management LLC $13.4M 580K 5.1% ▲ 24.3%
Dimensional Fund Advisors LP $9.8M 427K 3.8% ▼ 19.4%
Marshall Wace, LLP $9.2M 399K 3.5% ▼ 4.4%
Arrowstreet Capital, Limited Partnership $7.1M 309K 2.7% ▼ 15.5%
Geode Capital Management, LLC $6.6M 285K 2.5% ▲ 115.5%
Connor, Clark & Lunn Investment Management Ltd. $6.5M 282K 2.5% ▲ 62.1%
Renaissance Technologies LLC $6M 261K 2.3% ▲ 141.1%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Amtech Systems Inc's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Recent insider open-market transactions
Insider Date Trade Shares Price Value
Sabol Thomas B Chief Financial Officer September 14, 2026 Buy 2,000 $14.14 $28,280
Shechter Guy President & CEO August 24, 2026 Buy 3,450 $14.34 $49,473

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around October 19, 2026 estimated from the company's past filing pattern, not announced

  • August 5, 2026
  • May 7, 2026
  • February 5, 2026
  • December 10, 2025
  • August 6, 2025
  • May 12, 2025

Recent SEC filings

Data status

When each part of this page on Amtech Systems Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Amtech Systems Inc in brief

What does Amtech Systems Inc do?
Amtech Systems Inc is a US-listed company in the semiconductor materials & equipment industry. Its financial year ends in September.
What is Amtech Systems Inc's stock ticker?
Amtech Systems Inc trades under the ticker ASYS on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Amtech Systems Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Amtech Systems Inc reported revenue of $81.7M, 2.4% lower than a year earlier, according to its SEC filings.
What is Amtech Systems Inc's free cash flow?
Amtech Systems Inc's free-cash-flow margin is 10.7% of revenue over the trailing twelve months, ranking 12 of the 20 semiconductor materials & equipment companies we cover.
What is Amtech Systems Inc's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Amtech Systems Inc's free cash flow after stock-based pay gives ~$9.3 per share in the base case, and ~$8.2–$11 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Amtech Systems Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are First Eagle Investment Management, LLC, Aigh Capital Management LLC and Blackrock, Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Amtech Systems Inc's market cap?
On November 2, 2026, Amtech Systems Inc's market capitalisation was about $185M, with a price-to-earnings ratio of 46.2 and net debt of -$82.8M. Market figures come from third-party market data and may be delayed.
Who are Amtech Systems Inc's competitors?
In our Semiconductor Materials & Equipment peer group, the companies closest to Amtech Systems Inc are AXT Inc, Aehr Test Systems, Sono TEK Corp, Camtek LTD and Cohu Inc. The side-by-side comparison below sets their revenue, margins and growth against Amtech Systems Inc's.
Are insiders buying or selling Amtech Systems Inc stock?
Over the last 12 months, Amtech Systems Inc's directors and officers reported 2 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.