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Camtek LTD (CAMT) stock

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NASDAQ: CAMT Nasdaq Semiconductor Materials & Equipment Next results ~November 4, 2026

C Fundamentals grade

Camtek LTD is a US-listed company in the semiconductor materials & equipment industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$77

Cash-flow model

Base case. Range ~$57–$100 across our lower- and higher-growth cases (10.6%–20.6% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 29% below it.

Price used: $108.25, 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.

  • Insiders0 buying, 6 selling0 purchases and 13 sales by directors and officers, last 12 monthsInsider trades
  • Funds122 adding, 103 cuttingOf 36 active managers that changed their stake, 21 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Camtek files

Where Camtek LTD stands after its latest Filing

Revenue for the twelve months was $496m, up 15.6% on a year earlier, slower than the 36.1% growth a quarter earlier. Free-cash-flow margin rose to 25.6% from 21.1% a year earlier. It passes 2 of our 2 financial-health checks. Our cash-flow model value is $70.71 a share, against a share price of $117.

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

Next results ~November 4, 2026 (estimated)

Camtek LTD's trailing-twelve-month revenue grew 15.6% year on year, with a free-cash-flow margin of 25.6%. Where it stands out: free-cash-flow margin of 25.6% ranks 4 of 20 semiconductor materials & equipment companies we cover. Where it lags: change in growth rate of -20.5pp ranks 20 of 20 semiconductor materials & equipment companies we cover.

Our discounted-cash-flow model values the business at ~$77 per share in the base case (~$57–$100 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 13.6% while net income fell 57.2%: a 71pp divergence.

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

Strengths

  • Fast growth. Revenue grew 15.6% over the last 12 months, against a median of 15.8% for semiconductor materials & equipment companies we cover.
  • High operating margin. 25.8% of revenue is left as operating profit, against a median of 13.2% for semiconductor materials & equipment companies we cover.
  • Strong cash generation. 25.6% of revenue turned into free cash flow, against a median of 17.5% for semiconductor materials & equipment companies we cover.
  • Net cash. Cash exceeds long-term debt by $0.2bn.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 13.4% over 90 days.

Things to watch

  • Priced above our value. The share price of $108.25 is 29% above our value per share of $77.
  • Growth slowing. The growth rate is 20.5 points lower than a quarter earlier.
  • Volatile shares. Over the past year the shares showed annualised volatility of 71% and a beta of 2.9 against the S&P 500.
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 3.4% ranks 17 of 20 semiconductor materials & equipment companies we cover (median 2.5%).

Latest results

Earnings per share
$0.78 against an average estimate of $0.76: beat by 2.8%
Next report
November 4, 2026; average EPS estimate $0.99

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

Price chart

  • 1 day-7.2%
  • 1 week-12.2%
  • 1 month-34.5%
  • This year+1.8%
  • 1 year-12.6%
  • 5 years+173.6%
  • 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)
$496M
Operating margin
25.8%
Net margin
10.2%
EPS (TTM, diluted)
$1.01

Growth

Revenue growth
+15.6%
Change in growth rate
−20.5 pts
Share count change
+1.2%

Cash

Free cash flow (TTM)
$127M
FCF margin
25.6%
Stock pay % of revenue
3.4%

News & updates

Updated October 31, 2026

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

  1. Insider trade
  2. Insider trade

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 22.3% a year of cash-flow growth for five years.That is close to the 26.1% a year revenue growth Camtek has delivered.

  • Priced in22.3%
  • Last 12 months15.6%
  • 3 years a year15.6%
  • 5 years a year26.1%

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 ($113.48, 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
~$77
Price used
$113.48close November 3, 2026
Implied change
▼ 32%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Camtek LTD's free cash flow after stock-based pay with after-tax interest added back ($106M, FY2025 Q4 TTM), growing 15.6% a year for five years and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$57–~$100 ; that spread sets a 25% 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 Camtek LTD's free cash flow after stock-based pay ( $106M, FY2025 Q4 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 Camtek LTD as an operating company, with every model that fits that kind of business. Cost of equity 12.3%: the 10-year Treasury yield (4.9%) plus a beta of 1.64 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. ~$77 ~$57–$100 Primary model, counts double
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$51 ~$30–$69 Included
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$81 ~$71–$110 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$26 ~$20–$35 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$24 ~$21–$26 Included
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. ~$56 ~$24–$81 5 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Camtek LTD 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 ▼ −26%
  • Revenue growth 5 points higher ▲ +33%
  • Free-cash-flow margin 1 point lower ▼ −4%
  • Last year's free-cash-flow margin change, if it persists ▼ −2%
  • Discount rate 1 point higher ▼ −17%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $28$40$56$77$104$139
8.5% $20$29$40$55$74$99
10% $15$22$31$42$57$76

Valuation multiples over time Market data may be delayed

Camtek LTD: market value and multiples by fiscal year
At fiscal year end 20152016201720182019202020212022202320242025
Share price$2.01$3.05$5.42$6.53$10.65$21.56$45.30$21.60$68.26$80.77$106.35
Market value$67m$108m$195m$240m$409m$870m$2.0bn$1.0bn$3.3bn$4.0bn$5.3bn
+ Net debt (− = net cash)−$31m−$20m−$44m−$55m−$38m−$106m−$47m$48m$77m$72m$342m
Enterprise value$36m$88m$151m$185m$371m$764m$2.0bn$1.1bn$3.4bn$4.1bn$5.7bn
Multiples
Price / sales 1.0x1.4x2.1x1.9x3.1x5.6x7.6x3.2x10.6x9.3x10.7x
Price / earnings —22.8x14.0x12.8x18.6x40.0x33.8x13.0x42.4x33.6x104.8x
Price / free cash flow ———16.5x17.5x37.3x35.9x21.0x46.8x35.6x41.7x
EV / EBITDA —22.1x—8.4x15.4x30.8x27.0x12.7x47.9x34.2x40.4x

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 Camtek's competitive advantage looks for rivals to wear away, judged from 5 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Pricing power 12 / 20

    Gross margin has been a median 48.7%, moving by 7.1 percentage points (standard deviation) across 5 years.

  • Durability 0 / 20

    Operating margin has been a median 1.3%; its worst year was -19.6%.

  • Cash conversion 11 / 20

    Free cash flow was positive in 4 of 5 years, at a median 5.9% 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

Next results: November 4, 2026, before the open. Analysts expect revenue of $161m and EPS of $0.99 (range $0.96 to $1.02) for the quarter.

Analysts' consensus

Camtek LTD: consensus estimates
Fiscal yearEPSGrowthRevenueGrowth
Current $3.63 +11% $595m +20%
Next $5.08 +40% $801m +35%

Next year's EPS estimate has moved +13.4% in 90 days, across 10 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +3.7% on 90 days ago. In the last 30 days, 10 analysts raised Camtek LTD's forecast and 0 cut it.

Consensus EPS forecast Camtek LTD, last 90 days
$3.50 $4.00 $4.50 $5.00 $5.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $3.50 Current fiscal year, 60 days ago: $3.62 Current fiscal year, 30 days ago: $3.62 Current fiscal year, 7 days ago: $3.62 Current fiscal year, Now: $3.63 $3.63 Next fiscal year, 90 days ago: $4.48 Next fiscal year, 60 days ago: $4.82 Next fiscal year, 30 days ago: $4.79 Next fiscal year, 7 days ago: $4.79 Next fiscal year, Now: $5.08 $5.08

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

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $3.50$4.48
60 days ago $3.62$4.82
30 days ago $3.62$4.79
7 days ago $3.62$4.79
Now $3.63$5.08

Earnings against estimates

Camtek LTD: reported EPS against the consensus estimate
Quarter toEstimateActualSurprise
Jun 2026 $0.76 $0.78 +2.8%
Mar 2026 $0.68 $0.70 +2.2%
Dec 2025 $0.81 $0.81 −0.4%
Sept 2025 $0.80 $0.82 +2.1%

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

Analyst recommendations

12 analysts, Oct 2026
Buy758%
Hold542%
Sell00%

Monthly trend

  1. Oct 202625512
  2. Sep 202625512
  3. Aug 202625512
  4. Jul 202625512

Counts of recommendations published by analysts covering Camtek LTD, 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
8.7%
of tradable shares
Days to cover
4.74
at average volume
Short interest, 1 month
−11%
to July 15, 2026
Held by institutions
52%
of shares
Held by insiders
37.5%
of shares
Employees
709
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

Return and risk by year

Camtek LTD: yearly return, monthly win rate and worst fall against the S&P 500
Calendar year 202120222023202420252026 to date
Return
CAMT+110%−52%+216%+18%+32%+2%
Industry peers (median)+65%−36%+29%−4%+38%+28%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
CAMT67%17%83%50%67%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
CAMT−24%−56%−22%−48%−53%−48%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 63% from July 8, 2024 to April 4, 2025. Getting back needed a 171% gain, reached on January 12, 2026, 283 days after the low.

Price behaviour

52-week range
$94.40 – $207.46
From 52-week high
−47.8%
vs 50-day average
−22.8%
vs 200-day average
−31.2%
Volatility (1 year)
71%
Beta vs S&P 500
2.89

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.

Options strategies

All options ideas

How Camtek LTD’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.

Camtek LTD 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) Camtek LTD
$0 $200M $400M $600M FY14 Q4 FY17 Q4 FY20 Q4 FY25 Q4 Revenue (TTM), FY14 Q4: $88.3M Revenue (TTM), FY15 Q4: $69.4M Revenue (TTM), FY16 Q4: $79.2M Revenue (TTM), FY17 Q4: $93.5M Revenue (TTM), FY18 Q4: $123.2M Revenue (TTM), FY19 Q4: $134M Revenue (TTM), FY20 Q4: $155.9M Revenue (TTM), FY21 Q4: $269.7M Revenue (TTM), FY22 Q4: $320.9M Revenue (TTM), FY23 Q4: $315.4M Revenue (TTM), FY24 Q4: $429.2M Revenue (TTM), FY25 Q4: $496.1M $496.1M

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue (TTM)
FY14 Q4 $88.3M
FY15 Q4 $69.4M
FY16 Q4 $79.2M
FY17 Q4 $93.5M
FY18 Q4 $123.2M
FY19 Q4 $134M
FY20 Q4 $155.9M
FY21 Q4 $269.7M
FY22 Q4 $320.9M
FY23 Q4 $315.4M
FY24 Q4 $429.2M
FY25 Q4 $496.1M
Revenue growth, TTM YoY Camtek LTD
-50% 0% 50% 100% FY14 Q4 FY17 Q4 FY20 Q4 FY25 Q4 Revenue growth, TTM YoY, FY14 Q4: 3.4% Revenue growth, TTM YoY, FY15 Q4: -21.4% Revenue growth, TTM YoY, FY16 Q4: 14.2% Revenue growth, TTM YoY, FY17 Q4: 18.0% Revenue growth, TTM YoY, FY18 Q4: 31.8% Revenue growth, TTM YoY, FY19 Q4: 8.8% Revenue growth, TTM YoY, FY20 Q4: 16.3% Revenue growth, TTM YoY, FY21 Q4: 73.0% Revenue growth, TTM YoY, FY22 Q4: 19.0% Revenue growth, TTM YoY, FY23 Q4: -1.7% Revenue growth, TTM YoY, FY24 Q4: 36.1% Revenue growth, TTM YoY, FY25 Q4: 15.6% 15.6%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue growth, TTM YoY
FY14 Q4 3.4%
FY15 Q4 -21.4%
FY16 Q4 14.2%
FY17 Q4 18.0%
FY18 Q4 31.8%
FY19 Q4 8.8%
FY20 Q4 16.3%
FY21 Q4 73.0%
FY22 Q4 19.0%
FY23 Q4 -1.7%
FY24 Q4 36.1%
FY25 Q4 15.6%
Operating margin (TTM) Camtek LTD
-20% 0% 20% 40% FY14 Q4 FY17 Q4 FY20 Q4 FY25 Q4 Operating margin (TTM), FY14 Q4: 5.8% Operating margin (TTM), FY15 Q4: -19.6% Operating margin (TTM), FY16 Q4: 2.5% Operating margin (TTM), FY17 Q4: -3.2% Operating margin (TTM), FY18 Q4: 16.3% Operating margin (TTM), FY19 Q4: 16.4% Operating margin (TTM), FY20 Q4: 14.5% Operating margin (TTM), FY21 Q4: 26.3% Operating margin (TTM), FY22 Q4: 25.4% Operating margin (TTM), FY23 Q4: 20.7% Operating margin (TTM), FY24 Q4: 25.2% Operating margin (TTM), FY25 Q4: 25.8% 25.8%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Operating margin (TTM)
FY14 Q4 5.8%
FY15 Q4 -19.6%
FY16 Q4 2.5%
FY17 Q4 -3.2%
FY18 Q4 16.3%
FY19 Q4 16.4%
FY20 Q4 14.5%
FY21 Q4 26.3%
FY22 Q4 25.4%
FY23 Q4 20.7%
FY24 Q4 25.2%
FY25 Q4 25.8%
FCF margin (TTM) Camtek LTD
-40% -20% 0% 20% 40% FY14 Q4 FY17 Q4 FY20 Q4 FY25 Q4 FCF margin (TTM), FY14 Q4: 5.9% FCF margin (TTM), FY15 Q4: -0.8% FCF margin (TTM), FY16 Q4: -23.8% FCF margin (TTM), FY17 Q4: -1.7% FCF margin (TTM), FY18 Q4: 11.7% FCF margin (TTM), FY19 Q4: 17.4% FCF margin (TTM), FY20 Q4: 14.8% FCF margin (TTM), FY21 Q4: 21.1% FCF margin (TTM), FY22 Q4: 15.4% FCF margin (TTM), FY23 Q4: 22.5% FCF margin (TTM), FY24 Q4: 26.1% FCF margin (TTM), FY25 Q4: 25.6% 25.6%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period FCF margin (TTM)
FY14 Q4 5.9%
FY15 Q4 -0.8%
FY16 Q4 -23.8%
FY17 Q4 -1.7%
FY18 Q4 11.7%
FY19 Q4 17.4%
FY20 Q4 14.8%
FY21 Q4 21.1%
FY22 Q4 15.4%
FY23 Q4 22.5%
FY24 Q4 26.1%
FY25 Q4 25.6%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 20-F. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Camtek took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $496M
  2. Cost of revenue $246M · 49.5%
  3. Gross profit $250M · 50.5%
  4. Research and development $48.3M · 9.7%
  5. Selling, general and admin $73.8M · 14.9%
  6. Operating income $128M · 25.8%
  7. Interest and other $75.9M · 15.3%
  8. Net income $50.7M · 10.2%
Where Camtek's revenue went, FY2025
Revenue $496M
Cost of revenue $246M 49.5% of revenue
Gross profit $250M 50.5% of revenue
Research and development $48.3M 9.7% of revenue
Selling, general and admin $73.8M 14.9% of revenue
Operating income $128M 25.8% of revenue
Interest and other $75.9M 15.3% of revenue
Net income $50.7M 10.2% of revenue

Shares of revenue. Source: Camtek's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

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

Camtek LTD: annual financial statements
Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025
Income
Revenue 54 88 107 85 85 88 69 79 93 123 134 156 270 321 315 429 496
Gross profit 17 38 47 37 34 41 32 32 46 61 65 73 137 160 148 210 250
EBITDA −8 7 11 2 4 7 −12 4 −1 22 24 25 74 86 71 119 140
Operating income −11 5 9 −0 1 5 −14 2 −3 20 22 23 71 81 65 108 128
Net income −12 3 5 0 0 3 −10 5 14 19 22 22 60 80 79 119 51
Diluted EPS −$0.40 $0.09 $0.18 $0.00 $0.00 $0.11 −$0.30 $0.13 $0.39 $0.51 $0.57 $0.54 $1.34 $1.68 $1.63 $2.42 $1.04
Growth (year on year)
Revenue — +64.0% +21.9% −21.0% +1.0% +3.4% −21.4% +14.2% +18.0% +31.8% +8.8% +16.3% +73.0% +19.0% −1.7% +36.1% +15.6%
EBITDA — — +60.1% −81.5% +76.9% +96.3% −260.0% — −123.0% — +9.6% +3.1% +196.5% +16.1% −16.8% +66.8% +17.9%
Operating income — — +86.0% −100.2% — — −364.3% — −250.4% — +9.7% +3.0% +213.4% +15.0% −19.7% +65.2% +18.6%
Net income — — +91.0% −99.9% — — −403.1% — +194.9% +34.2% +17.4% −0.9% +176.8% +32.6% −1.6% +50.7% −57.2%
Diluted EPS — — +100.0% −100.0% — — −372.7% — +200.0% +30.8% +11.8% −5.3% +148.1% +25.4% −3.0% +48.5% −57.0%
Margins
Gross margin 32.7% 43.8% 44.3% 43.8% 40.3% 46.4% 45.9% 41.0% 48.7% 49.4% 48.3% 47.0% 50.9% 49.8% 46.8% 48.9% 50.5%
EBITDA margin −15.6% 8.1% 10.6% 2.5% 4.4% 8.3% −16.9% 5.0% −1.0% 17.9% 18.0% 15.9% 27.3% 26.7% 22.6% 27.7% 28.2%
Operating margin −19.6% 5.5% 8.4% −0.0% 1.3% 5.8% −19.6% 2.5% −3.2% 16.3% 16.4% 14.5% 26.3% 25.4% 20.7% 25.2% 25.8%
Net margin −22.1% 3.2% 5.0% 0.0% 0.0% 3.8% −14.6% 6.0% 14.9% 15.2% 16.4% 14.0% 22.4% 24.9% 24.9% 27.6% 10.2%
Free-cash-flow margin 6.1% −2.0% 8.2% 2.3% 3.3% 6.1% −0.7% −23.5% −1.6% 11.8% 17.4% 15.0% 21.1% 15.5% 22.6% 26.1% 25.7%
Cash flow
Cash from operations 4 −0 10 4 5 6 2 −17 2 17 25 26 61 58 79 122 142
Capital spending 0 2 1 2 2 1 2 1 3 2 1 2 4 8 8 10 14
Free cash flow 3 −2 9 2 3 5 −0 −19 −2 15 23 23 57 50 71 112 127
Stock-based pay 0 0 0 0 0 0 0 0 1 2 3 4 6 11 13 15 17
Free cash flow after stock pay 3 −2 8 2 2 5 −1 −19 −2 13 20 19 51 39 59 98 111
Balance sheet
Cash 16 10 22 19 16 18 31 20 44 55 38 106 242 148 120 126 178
Total debt 0 0 9 10 — 0 0 0 0 0 0 0 195 196 197 198 520
Net debt (negative = net cash) −16 −10 −13 −9 −16 −18 −31 −20 −44 −55 −38 −106 −47 48 77 72 342
Diluted shares 29m 30m 30m 30m 30m 31m 33m 35m 36m 37m 38m 40m 45m 48m 49m 49m 50m
Returned to shareholders
Dividends — — — — — — — — 5 5 7 0 0 0 0 60 0
Total returned — — — — — — — — 5 5 7 0 0 0 0 60 0

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

2 of 2 checks passed · December 31, 2025
What it owns · $1.3bn
Short-term assets $897mLonger-term assets $363m
What it owes, and who funded it · $1.3bn
Short-term liabilities $107mLonger-term liabilities $535mShareholders' equity $617m
  • Short-term assets cover short-term liabilities $897m of assets due within a year against $107m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $897m short-term assets against $535m 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 Interest not separately reported. Not assessable.

From Camtek LTD'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

Dividends (TTM)
$0
Returned to shareholders
0%
of free cash flow
Diluted share count
+1.2%
year over year
Total shareholder yield
0.0%
dividends 0.0% + buybacks 0.0% of market value
R&D spending
9.7%
of revenue
Sales & admin spending
14.9%
of 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 CAMT COHU VECO ACLS NVMI KLIC Median
Revenue, last 12 months $496m $569m $683m $866m $881m $950m $994m
Revenue growth, last 12 months 15.6% 34.0% −2.5% −3.3% 31.0% 44.4% 15.8%
Revenue growth, 3-year average 79.8% −6.2% 2.1% −5.4% 99.1% 4.8% 7.8%
Revenue growth, latest quarter — 37.0% 16.5% 10.6% — 122.6% 33.7%
Gross margin 50.5% 42.7% 37.9% 43.0% 57.4% 48.2% 47.7%
Operating margin 25.8% −2.4% 2.7% 10.3% 28.8% 13.2% 13.2%
Operating margin, 3-year average 16.3% −10.5% 7.6% 17.2% 27.3% 0.9% 16.0%
Net margin 10.2% −4.0% 3.4% 10.7% 29.4% 12.2% 10.9%
Cash from operations / revenue 28.6% 11.6% 14.6% 8.7% 27.9% 5.8% 18.6%
Free-cash-flow margin 25.6% 9.8% 12.5% 7.6% 24.7% 4.3% 15.0%
Free-cash-flow margin, 3-year average 15.0% 0.6% 8.1% 11.7% 26.8% 10.0% 11.9%
Stock pay / revenue 3.4% 4.0% 5.3% 2.5% 3.0% 2.9% 2.4%
Change in share count 1.2% 4.7% 2.3% −3.7% 2.1% −1.0% 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 15.6% 15.8% 12 of 20
Change in growth rate Growth -20.5pp +7.5pp 20 of 20
Gross margin Profitability 50.5% 48.2% 7 of 19
Operating margin Profitability 25.8% 13.2% 6 of 19
Net margin Profitability 10.2% 11.1% 12 of 20
Free-cash-flow margin Cash generation 25.6% 17.5% 4 of 20
Stock pay as % of revenue Cash generation 3.4% 2.5% 17 of 20
Change in share count Balance sheet 1.2% 0.9% 11 of 19

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

Reported value
$3.2B
Institutions reporting
234
Shares held vs prior quarter
▼ 8.7%
Positions opened / closed
46 / 34

Top buyers and sellers, Q2 2026: 122 institutions bought and 103 sold ; the biggest buyer was Migdal Insurance & Financial Holdings Ltd (+720K shares) and the biggest seller FMR LLC (−953K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Migdal Insurance & Financial Holdings Ltd. $432M 2.6M 13.4% ▲ 37.3%
Harel Insurance Investments & Financial Services Ltd. $363M 2.2M 11.3% ▼ 3.3%
Wasatch Advisors LP $346M 2.1M 10.8% ▼ 22.2%
Menora Mivtachim Holdings Ltd. $342M 2.1M 10.6% ▲ 1.3%
Clal Insurance Enterprises Holdings Ltd $302M 1.9M 9.4% ▲ 0.3%
Jane Street Group, LLC $146M 895K 4.5% ▲ 287.6%
Vanguard Capital Management LLC $129M 811K 4.0% ▲ 4.4%
Y.D. More Investments Ltd $126M 797K 3.9% ▲ 1.7%
Federated Hermes, Inc. $74.9M 459K 2.3% ▼ 6.4%
Goldman Sachs Group Inc $50.2M 308K 1.6% ▼ 21.8%
Oberweis Asset Management Inc/ $41.3M 253K 1.3% ▲ 13.7%
Vanguard Fiduciary Trust Co $41M 257K 1.3% ▲ 3.5%

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 Camtek LTD's complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Recent insider open-market transactions
Insider Date Trade Shares Price Value
Geva-Dvash Orit Vice President, HR August 17, 2026 Sell 508 $175.00 $88,900
Andorn Karni Yarl Director August 14, 2026 Sell 3,176 $164.40 $522,134
Amit Rafi Chief Executive Officer August 13, 2026 Sell 6,250 $170.52 $1.1M
Langer Ram Chief Operating Officer August 13, 2026 Sell 6,387 $172.32 $1.1M
Andorn Karni Yarl Director August 13, 2026 Sell 880 $172.74 $152,011
Andorn Karni Yarl Director August 13, 2026 Sell 1,476 $172.12 $254,049
Eisenberg Moshe Chief Financial Officer August 12, 2026 Sell 645 $172.67 $111,372
Aviram Lior Director August 12, 2026 Sell 1,666 $172.73 $287,768
Aviram Lior Director August 12, 2026 Sell 1,681 $175.00 $294,175
Geva-Dvash Orit Vice President, HR August 12, 2026 Sell 415 $174.06 $72,235
Eisenberg Moshe Chief Financial Officer August 11, 2026 Sell 3,759 $160.06 $601,666
Aviram Lior Director August 11, 2026 Sell 1,658 $164.00 $271,912

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

Recent SEC filings

Data status

When each part of this page on Camtek LTD was last updated.

DataLast updatedSource
Share priceExchange closing prices
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.

Camtek LTD in brief

What does Camtek LTD do?
Camtek LTD is a US-listed company in the semiconductor materials & equipment industry. Its financial year ends in December.
What is Camtek LTD's stock ticker?
Camtek LTD trades under the ticker CAMT on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Camtek LTD's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Camtek LTD reported revenue of $496M, 15.6% higher than a year earlier, according to its SEC filings.
What is Camtek LTD's free cash flow?
Camtek LTD's free-cash-flow margin is 25.6% of revenue over the trailing twelve months, ranking 4 of the 20 semiconductor materials & equipment companies we cover.
What is Camtek LTD's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Camtek LTD's free cash flow after stock-based pay gives ~$77 per share in the base case, and ~$57–$100 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Camtek LTD's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Migdal Insurance & Financial Holdings Ltd., Harel Insurance Investments & Financial Services Ltd. and Wasatch Advisors LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Camtek LTD's market cap?
On December 31, 2025, Camtek LTD's market capitalisation was about $5.3B, with a price-to-earnings ratio of 104.8 and net debt of $342M. Market figures come from third-party market data and may be delayed.
Does Camtek LTD pay a dividend?
Camtek LTD reported no dividend payments in its trailing twelve months of filings.
Who are Camtek LTD's competitors?
In our Semiconductor Materials & Equipment peer group, the companies closest to Camtek LTD are Cohu Inc, Veeco Instruments Inc, Axcelis Technologies Inc, Nova LTD. and Kulicke & Soffa Industries Inc. The side-by-side comparison below sets their revenue, margins and growth against Camtek LTD's.
Are insiders buying or selling Camtek LTD stock?
Over the last 12 months, Camtek LTD's directors and officers reported 0 open-market purchases and 13 sales on Form 4. The insider trading page charts every trade.
When is Camtek LTD's next earnings date?
Around November 4, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Camtek LTD announces its own schedule.