Amtech Systems, Inc. (ASYS) 10-Year Financial Performance & Capital Metrics

ASYS •

TechnologySemiconductorsSemiconductor Manufacturing Equipment

AboutAmtech Systems, Inc. manufactures and sells capital equipment and related consumables for use in fabricating silicon carbide (SiC), silicon power devices, analog and discrete devices, electronic assemblies, and light-emitting diodes (LEDs) worldwide. The company operates in Semiconductor and Material and Substrate segments. The Semiconductor segment designs, manufactures, sells, and services thermal processing equipment, including solder reflow ovens, diffusion furnaces, and customer high-temp belt furnaces for use by semiconductor manufacturers, as well as in electronics, automotive and other industries; and wafer polishing equipment and related services. Its products include horizontal diffusion furnaces; and belt furnaces. The Material and Substrate segment manufactures and sells consumables and machinery for lapping and polishing of materials, such as silicon wafers for semiconductor products; sapphire substrates for LED lighting and mobile devices; silicon carbide wafers for LED and power device applications; various glass and silica components for 3D image transmission; quartz and ceramic components for telecommunications devices; and medical device components, and optical and photonics applications. This segment also offers substrate process chemicals for use in various manufacturing processes, including semiconductors, silicon and compound semiconductor wafers, and optics. The company sells its products through sales personnel, as well as a network of independent sales representatives and distributors. The company was formerly known as Quartz Engineering & Materials, Inc. and changed its name to Amtech Systems, Inc. in 1987. Amtech Systems, Inc. was incorporated in 1981 and is headquartered in Tempe, Arizona.Show more

Revenue $79M -21.6%
EBITDA -$2M +49.3%
Net Income -$30M -257.4%
EPS (Diluted) -2.12 -253.3%
Gross Margin 34% -5.0%
EBITDA Margin -2.36% +35.4%
Operating Margin -5.82% +12.5%
Net Margin -38.21% -355.8%
ROE -44.68% -349.5%
ROIC -4.81% +11.1%
Debt/Equity 0.37 +71.3%
Interest Coverage -177.58 -1369.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 94 (top 6%)

✗Weaknesses

✗Weak Piotroski F-Score: 2/9

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-2.75%

5Y3.93%

3Y-9.28%

TTM-26.55%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-2678.55%

EPS CAGR

10Y-

5Y-

3Y-

TTM-414.48%

ROCE

10Y Avg-0.36%

5Y Avg-3.42%

3Y Avg-8.48%

Latest-5.19%

Peer Comparison

Semiconductor Manufacturing Equipment

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
LRCXLam Research Corporation	292.64B	233.89	56.36	23.68%	30.22%	61.24%	1.85%	0.48
ASMLASML Holding N.V.	563.03B	1450.56	51.82	11.02%	29.42%	47.08%	2.23%	0.14
VECOVeeco Instruments Inc.	1.85B	30.56	51.80	-7.39%	5.33%	4%	2.48%	0.29
AMATApplied Materials, Inc.	295.23B	372.30	42.99	4.39%	24.67%	34.28%	1.93%	0.32
ACMRACM Research, Inc.	3.33B	55.68	36.39	40.23%	13.3%	6.21%	2.1%	0.17
ACLSAxcelis Technologies, Inc.	2.68B	82.61	21.74	-17.57%	14.33%	11.62%	4%	0.04
ASYSAmtech Systems, Inc.	187.79M	13.05	-6.16	-21.59%	-41.28%	-56.44%	3.69%	0.37

Profit & Loss

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Sales/Revenue+	120.31M	164.52M	176.43M	85.03M	65.46M	85.2M	106.3M	113.31M	101.21M	79.36M
Revenue Growth %	14.71%	36.75%	7.24%	-51.8%	-23.02%	30.16%	24.76%	6.6%	-10.68%	-21.59%
Cost of Goods Sold+	86.25M	112.58M	121.27M	51.68M	41.02M	50.67M	66.79M	77.76M	64.98M	52.38M
COGS % of Revenue	71.69%	68.43%	68.74%	60.77%	62.66%	59.47%	62.83%	68.63%	64.2%	66%
Gross Profit+	34.06M	51.93M	55.16M	33.36M	24.44M	34.53M	39.51M	35.55M	36.23M	26.98M
Gross Margin %	28.31%	31.57%	31.26%	39.23%	37.34%	40.53%	37.17%	31.37%	35.8%	34%
Gross Profit Growth %	26.12%	52.46%	6.21%	-39.52%	-26.73%	41.28%	14.43%	-10.02%	1.91%	-25.53%
Operating Expenses+	41.97M	41.51M	45.34M	27.33M	24.71M	30.72M	34.69M	50.52M	43.81M	31.6M
OpEx % of Revenue	34.89%	25.23%	25.7%	32.14%	37.74%	36.05%	32.63%	44.59%	43.28%	39.82%
Selling, General & Admin	33.97M	35.13M	25.74M	24.26M	21.4M	24.74M	28.3M	42.02M	33.81M	28.95M
SG&A % of Revenue	28.23%	21.36%	14.59%	28.53%	32.69%	29.04%	26.62%	37.08%	33.41%	36.48%
Research & Development	8M	6.37M	7.8M	3.07M	3.31M	5.98M	6.39M	7.31M	4.19M	2.65M
R&D % of Revenue	6.65%	3.87%	4.42%	3.61%	5.06%	7.02%	6.01%	6.45%	4.14%	3.34%
Other Operating Expenses	0	0	0	0	0	284K	0	1.21M	4.95M	0
Operating Income+	-7.91M	10.43M	1.92M	7.14M	2.74M	3.73M	4.82M	-14.97M	-6.73M	-4.62M
Operating Margin %	-6.57%	6.34%	1.09%	8.39%	4.19%	4.37%	4.54%	-13.21%	-6.65%	-5.82%
Operating Income Growth %	41.51%	231.83%	-81.59%	271.86%	-61.58%	35.85%	29.42%	-410.52%	55.05%	31.39%
EBITDA+	-4.93M	12.92M	2.97M	8.26M	3.82M	5.12M	6.55M	-9.96M	-3.7M	-1.88M
EBITDA Margin %	-4.1%	7.85%	1.68%	9.72%	5.84%	6.01%	6.16%	-8.79%	-3.66%	-2.36%
EBITDA Growth %	51.46%	361.82%	-76.99%	178.06%	-53.78%	34.11%	27.85%	-252.03%	62.84%	49.32%
D&A (Non-Cash Add-back)	2.97M	2.49M	1.05M	1.13M	1.08M	1.4M	1.73M	5.01M	3.03M	2.74M
EBIT	-7.91M	3.64M	8.32M	6.03M	-268K	3.67M	18.95M	-14.66M	-6.95M	-27.97M
Net Interest Income+	-417K	379K	738K	852K	162K	-186K	46K	-154K	-500K	213K
Interest Income	0	379K	738K	852K	162K	53K	210K	366K	57K	239K
Interest Expense	417K	0	0	0	0	239K	164K	520K	557K	26K
Other Income/Expense	2.46M	6.19M	3.85M	852K	-2.63M	-291K	1.5M	-212K	-782K	-23.38M
Pretax Income+	-5.45M	9.83M	5.53M	5.77M	-3.12M	3.43M	18.79M	-15.18M	-7.51M	-27.99M
Pretax Margin %	-4.53%	5.98%	3.13%	6.78%	-4.76%	4.03%	17.67%	-13.4%	-7.42%	-35.27%
Income Tax+	3.1M	1.74M	220K	2.63M	791K	1.93M	1.42M	-2.6M	975K	2.33M
Effective Tax Rate %	128.59%	92.89%	96.02%	54.35%	125.39%	43.91%	92.45%	82.87%	112.98%	108.34%
Net Income+	-7.01M	9.13M	5.3M	3.13M	-3.91M	1.51M	17.37M	-12.58M	-8.49M	-30.33M
Net Margin %	-5.83%	5.55%	3.01%	3.69%	-5.97%	1.77%	16.34%	-11.1%	-8.38%	-38.21%
Net Income Growth %	9.82%	230.29%	-41.9%	-40.9%	-224.63%	138.6%	1051.66%	-172.45%	32.55%	-257.37%
Net Income (Continuing)	-8.55M	2.19M	6.63M	3.13M	-3.91M	1.51M	17.37M	-12.58M	-8.49M	-30.33M
Discontinued Operations	0	6.94M	0	-8.3M	-11.82M	0	0	0	0	0
Minority Interest	-1.72M	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.53	0.68	0.35	0.22	-0.28	0.11	1.22	-0.89	-0.60	-2.12
EPS Growth %	18.46%	228.3%	-48.53%	-37.14%	-227.27%	139.29%	1009.09%	-172.95%	32.58%	-253.33%
EPS (Basic)	-0.53	0.68	0.36	0.22	-0.28	0.11	1.24	-0.89	-0.60	-2.12
Diluted Shares Outstanding	13.17M	13.5M	15.06M	14.24M	14.16M	14.34M	14.18M	14.06M	14.21M	14.3M
Basic Shares Outstanding	13.17M	13.38M	14.83M	14.24M	14.16M	14.19M	14.01M	14.06M	14.21M	14.3M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Total Current Assets+	82.92M	157.11M	124.29M	108.27M	76.57M	80.87M	102.94M	81.19M	64.38M	60.18M
Cash & Short-Term Investments	27.66M	51.12M	58.33M	52.98M	45.07M	32.84M	46.87M	13.13M	11.09M	17.9M
Cash Only	27.66M	51.12M	58.33M	52.98M	45.07M	32.84M	46.87M	13.13M	11.09M	17.9M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	26.54M	36.79M	18.28M	12.91M	12.61M	23.55M	25.01M	27.11M	21.99M	19.96M
Days Sales Outstanding	80.51	81.63	37.81	55.41	70.28	100.87	85.89	87.31	79.3	91.79
Inventory	23.22M	30.21M	24.71M	17.53M	17.28M	22.07M	25.49M	34.84M	26.87M	18.74M
Days Inventory Outstanding	98.28	97.94	74.37	123.83	153.72	159	139.3	163.55	150.91	130.6
Other Current Assets	3.55M	38.99M	48.22M	24.85M	1.62M	2.41M	5.56M	6.11M	4.43M	3.57M
Total Non-Current Assets+	35.51M	34.51M	25.12M	18.21M	25.53M	36.05M	30.6M	55.83M	54.58M	38.75M
Property, Plant & Equipment	15.96M	15.79M	16.45M	10.22M	17.12M	22.73M	17.81M	20.91M	28.24M	28.52M
Fixed Asset Turnover	7.54x	10.42x	10.72x	8.32x	3.82x	3.75x	5.97x	5.42x	3.58x	2.78x
Goodwill	11.12M	11.4M	6.63M	6.63M	6.63M	11.17M	11.17M	27.63M	21.26M	908K
Intangible Assets	4.1M	3.5M	1.13M	870K	609K	858K	758K	6.11M	4M	1.09M
Long-Term Investments	3.03M	2.62M	0	0	0	0	0	0	0	0
Other Non-Current Assets	1.09M	1M	901K	487K	602K	661K	783K	1.07M	884K	7.21M
Total Assets+	118.43M	191.62M	149.41M	126.48M	102.1M	116.91M	133.53M	137.02M	118.95M	98.93M
Asset Turnover	1.02x	0.86x	1.18x	0.67x	0.64x	0.73x	0.80x	0.83x	0.85x	0.80x
Asset Growth %	-5.6%	61.8%	-22.03%	-15.35%	-19.28%	14.51%	14.22%	2.61%	-13.19%	-16.83%
Total Current Liabilities+	38.06M	85.97M	45.14M	30.65M	7.48M	15.11M	22.63M	29.72M	19.6M	20.48M
Accounts Payable	15.4M	21.55M	6.87M	4.37M	2.68M	8.23M	7.3M	10.81M	5.36M	7.74M
Days Payables Outstanding	65.16	69.88	20.67	30.87	23.81	59.27	39.9	50.76	30.08	53.9
Short-Term Debt	1.13M	361K	350K	371K	380K	927K	0	2.2M	0	0
Deferred Revenue (Current)	11.76M	52.87M	18.37M	1.38M	1.22M	1.62M	7.23M	8.02M	8.96M	6.46M
Other Current Liabilities	13.66M	54.41M	36.32M	20.38M	2.07M	2.35M	1.77M	3.48M	2.06M	1.61M
Current Ratio	2.18x	1.83x	2.75x	3.53x	10.24x	5.35x	4.55x	2.73x	3.28x	2.94x
Quick Ratio	1.57x	1.48x	2.21x	2.96x	7.93x	3.89x	3.42x	1.56x	1.91x	2.02x
Cash Conversion Cycle	113.63	109.69	91.51	148.37	200.2	200.6	185.28	200.1	200.12	168.49
Total Non-Current Liabilities+	15.03M	15.17M	11.17M	8.38M	13.1M	16.17M	12.54M	18.94M	17M	25.06M
Long-Term Debt	9.1M	8.13M	5.54M	5.18M	4.8M	4.4M	144K	8.37M	0	17.32M
Capital Lease Obligations	0	0	0	0	5.06M	8.39M	9.47M	8.94M	15.43M	17.48M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	6.05M
Other Non-Current Liabilities	5.93M	7.04M	3.21M	3.2M	3.24M	3.38M	2.92M	1.62M	1.57M	-15.79M
Total Liabilities	53.09M	101.14M	56.32M	39.02M	20.58M	31.28M	35.17M	48.66M	36.59M	45.54M
Total Debt+	10.23M	8.49M	8.33M	5.55M	10.37M	14.25M	11.82M	22.2M	17.57M	19.51M
Net Debt	-17.42M	-42.63M	-50M	-47.43M	-34.7M	-18.59M	-35.05M	9.07M	6.49M	1.61M
Debt / Equity	0.16x	0.09x	0.09x	0.06x	0.13x	0.17x	0.12x	0.25x	0.21x	0.37x
Debt / EBITDA	-	0.66x	2.80x	0.67x	2.71x	2.78x	1.81x	-	-	-
Net Debt / EBITDA	-	-3.30x	-16.82x	-5.74x	-9.08x	-3.63x	-5.35x	-	-	-
Interest Coverage	-18.96x	-	-	-	-	15.59x	29.40x	-28.79x	-12.08x	-177.58x
Total Equity+	65.34M	90.48M	93.09M	87.45M	81.52M	85.63M	98.37M	88.36M	82.36M	53.38M
Equity Growth %	-10.06%	38.48%	2.88%	-6.06%	-6.78%	5.05%	14.87%	-10.17%	-6.8%	-35.18%
Book Value per Share	4.96	6.70	6.18	6.14	5.76	5.97	6.94	6.28	5.80	3.73
Total Shareholders' Equity	67.06M	90.48M	93.09M	87.45M	81.52M	85.63M	98.37M	88.36M	82.36M	53.38M
Common Stock	132K	147K	142K	143K	141K	143K	140K	142K	143K	144K
Retained Earnings	-35.83M	-26.7M	-21.39M	-26.56M	-42.41M	-40.9M	-24.46M	-37.05M	-45.53M	-75.86M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-8.88M	-8.53M	-9.97M	-11.23M	-646K	14K	-1.77M	-1.7M	-720K	-959K
Minority Interest	-1.72M	0	0	0	0	0	0	0	0	0

Cash Flow

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Cash from Operations+	-9.69M	11.79M	6.79M	173K	-1.66M	-5.96M	5.2M	-7.7M	9.84M	7.88M
Operating CF Margin %	-8.05%	7.17%	3.85%	0.2%	-2.54%	-7%	4.9%	-6.8%	9.72%	9.93%
Operating CF Growth %	3.75%	221.67%	-42.4%	-97.45%	-1061.85%	-258.29%	187.29%	-247.98%	227.8%	-19.97%
Net Income	-8.55M	8.09M	5.3M	-5.16M	-15.72M	1.51M	17.37M	-12.58M	-8.49M	-30.33M
Depreciation & Amortization	2.97M	2.49M	1.85M	1.69M	1.26M	1.4M	1.73M	5.01M	3.03M	2.74M
Stock-Based Compensation	1.39M	1.33M	855K	573K	326K	401K	543K	1.27M	1.53M	1.23M
Deferred Taxes	2.28M	-27K	209K	220K	218K	-65K	592K	-2.51M	-84K	-838K
Other Non-Cash Items	-831K	420K	4.53M	2.75M	14.52M	631K	-12.39M	8.02M	8.28M	29.75M
Working Capital Changes	-6.95M	-511K	-5.96M	104K	-2.26M	-9.84M	-2.63M	-6.91M	5.57M	5.32M
Change in Receivables	-5M	-8.65M	3.27M	299K	1.36M	-11.02M	-2.48M	4.41M	9.24M	2.08M
Change in Inventory	491K	-6.64M	3.96M	-435K	-913K	-5.18M	-3.68M	-6.29M	5.13M	1.68M
Change in Payables	-225K	5.37M	-10.16M	-1.79M	-3.62M	5.47M	-1.08M	1.46M	-4.94M	2.24M
Cash from Investing+	11.17M	-1.22M	4.35M	-1.83M	-12.62M	-8.09M	18.77M	-37.83M	-2.18M	-912K
Capital Expenditures	-978K	-1.26M	-1.5M	-714K	-2.68M	-3.01M	-1.14M	-2.9M	-4.88M	-950K
CapEx % of Revenue	0.81%	0.76%	0.85%	0.84%	4.09%	3.54%	1.07%	2.56%	4.82%	1.2%
Acquisitions	7.01M	40K	114K	-1.11M	-9.94M	-5.08M	19.91M	-34.94M	0	38K
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	5.14M	40K	5.85M	-1.11M	-9.94M	0	19.91M	6K	2.7M	0
Cash from Financing+	457K	12.7M	-2.48M	-157K	-1.5M	1.17M	-8.27M	11.74M	-10.63M	270K
Debt Issued (Net)	406K	81K	-368K	-367K	-379K	-380K	-4.87M	10.5M	-10.61M	-93K
Equity Issued (Net)	51K	1000K	-1000K	210K	-1000K	0	-1000K	0	0	363K
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	-4M	0	-2M	0	-4.12M	0	0	0
Other Financing	0	18K	1.89M	0	877K	1.55M	720K	1.24M	-26K	0
Net Change in Cash	1.8M	23.47M	7.21M	-3.36M	-14.06M	-12.23M	14.04M	-33.74M	-2.05M	6.82M
Free Cash Flow+	-10.67M	10.53M	5.29M	-541K	-4.34M	-8.97M	4.07M	-10.6M	4.96M	6.93M
FCF Margin %	-8.87%	6.4%	3%	-0.64%	-6.63%	-10.53%	3.83%	-9.35%	4.9%	8.73%
FCF Growth %	0.09%	198.74%	-49.73%	-110.22%	-702.22%	-106.77%	145.34%	-360.48%	146.83%	39.54%
FCF per Share	-0.81	0.78	0.35	-0.04	-0.31	-0.63	0.29	-0.75	0.35	0.48
FCF Conversion (FCF/Net Income)	1.38x	1.29x	1.28x	0.06x	0.43x	-3.95x	0.30x	0.61x	-1.16x	-0.26x
Interest Paid	305K	269K	304K	0	265K	241K	164K	461K	558K	25K
Taxes Paid	116K	146K	980K	0	2.12M	1.87M	386K	2.82M	623K	1.47M

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-10.16%	11.72%	5.78%	3.47%	-4.62%	1.8%	18.88%	-13.48%	-9.94%	-44.68%
Return on Invested Capital (ROIC)	-11.4%	16.33%	3.16%	12.88%	4.74%	4.91%	5.55%	-13.97%	-5.42%	-4.81%
Gross Margin	28.31%	31.57%	31.26%	39.23%	37.34%	40.53%	37.17%	31.37%	35.8%	34%
Net Margin	-5.83%	5.55%	3.01%	3.69%	-5.97%	1.77%	16.34%	-11.1%	-8.38%	-38.21%
Debt / Equity	0.16x	0.09x	0.09x	0.06x	0.13x	0.17x	0.12x	0.25x	0.21x	0.37x
Interest Coverage	-18.96x	-	-	-	-	15.59x	29.40x	-28.79x	-12.08x	-177.58x
FCF Conversion	1.38x	1.29x	1.28x	0.06x	0.43x	-3.95x	0.30x	0.61x	-1.16x	-0.26x
Revenue Growth	14.71%	36.75%	7.24%	-51.8%	-23.02%	30.16%	24.76%	6.6%	-10.68%	-21.59%

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Amtech Systems, Inc. (ASYS) 10-Year Financial Performance & Capital Metrics

ASYS •

TechnologySemiconductorsSemiconductor Manufacturing Equipment

Revenue $79M -21.6%
EBITDA -$2M +49.3%
Net Income -$30M -257.4%
EPS (Diluted) -2.12 -253.3%
Gross Margin 34% -5.0%
EBITDA Margin -2.36% +35.4%
Operating Margin -5.82% +12.5%
Net Margin -38.21% -355.8%
ROE -44.68% -349.5%
ROIC -4.81% +11.1%
Debt/Equity 0.37 +71.3%
Interest Coverage -177.58 -1369.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 94 (top 6%)

✗Weaknesses

✗Weak Piotroski F-Score: 2/9

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-2.75%

5Y3.93%

3Y-9.28%

TTM-26.55%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-2678.55%

EPS CAGR

10Y-

5Y-

3Y-

TTM-414.48%

ROCE

10Y Avg-0.36%

5Y Avg-3.42%

3Y Avg-8.48%

Latest-5.19%

Peer Comparison

Semiconductor Manufacturing Equipment

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
LRCXLam Research Corporation	292.64B	233.89	56.36	23.68%	30.22%	61.24%	1.85%	0.48
ASMLASML Holding N.V.	563.03B	1450.56	51.82	11.02%	29.42%	47.08%	2.23%	0.14
VECOVeeco Instruments Inc.	1.85B	30.56	51.80	-7.39%	5.33%	4%	2.48%	0.29
AMATApplied Materials, Inc.	295.23B	372.30	42.99	4.39%	24.67%	34.28%	1.93%	0.32
ACMRACM Research, Inc.	3.33B	55.68	36.39	40.23%	13.3%	6.21%	2.1%	0.17
ACLSAxcelis Technologies, Inc.	2.68B	82.61	21.74	-17.57%	14.33%	11.62%	4%	0.04
ASYSAmtech Systems, Inc.	187.79M	13.05	-6.16	-21.59%	-41.28%	-56.44%	3.69%	0.37

Profit & Loss

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Sales/Revenue+	120.31M	164.52M	176.43M	85.03M	65.46M	85.2M	106.3M	113.31M	101.21M	79.36M
Revenue Growth %	14.71%	36.75%	7.24%	-51.8%	-23.02%	30.16%	24.76%	6.6%	-10.68%	-21.59%
Cost of Goods Sold+	86.25M	112.58M	121.27M	51.68M	41.02M	50.67M	66.79M	77.76M	64.98M	52.38M
COGS % of Revenue	71.69%	68.43%	68.74%	60.77%	62.66%	59.47%	62.83%	68.63%	64.2%	66%
Gross Profit+	34.06M	51.93M	55.16M	33.36M	24.44M	34.53M	39.51M	35.55M	36.23M	26.98M
Gross Margin %	28.31%	31.57%	31.26%	39.23%	37.34%	40.53%	37.17%	31.37%	35.8%	34%
Gross Profit Growth %	26.12%	52.46%	6.21%	-39.52%	-26.73%	41.28%	14.43%	-10.02%	1.91%	-25.53%
Operating Expenses+	41.97M	41.51M	45.34M	27.33M	24.71M	30.72M	34.69M	50.52M	43.81M	31.6M
OpEx % of Revenue	34.89%	25.23%	25.7%	32.14%	37.74%	36.05%	32.63%	44.59%	43.28%	39.82%
Selling, General & Admin	33.97M	35.13M	25.74M	24.26M	21.4M	24.74M	28.3M	42.02M	33.81M	28.95M
SG&A % of Revenue	28.23%	21.36%	14.59%	28.53%	32.69%	29.04%	26.62%	37.08%	33.41%	36.48%
Research & Development	8M	6.37M	7.8M	3.07M	3.31M	5.98M	6.39M	7.31M	4.19M	2.65M
R&D % of Revenue	6.65%	3.87%	4.42%	3.61%	5.06%	7.02%	6.01%	6.45%	4.14%	3.34%
Other Operating Expenses	0	0	0	0	0	284K	0	1.21M	4.95M	0
Operating Income+	-7.91M	10.43M	1.92M	7.14M	2.74M	3.73M	4.82M	-14.97M	-6.73M	-4.62M
Operating Margin %	-6.57%	6.34%	1.09%	8.39%	4.19%	4.37%	4.54%	-13.21%	-6.65%	-5.82%
Operating Income Growth %	41.51%	231.83%	-81.59%	271.86%	-61.58%	35.85%	29.42%	-410.52%	55.05%	31.39%
EBITDA+	-4.93M	12.92M	2.97M	8.26M	3.82M	5.12M	6.55M	-9.96M	-3.7M	-1.88M
EBITDA Margin %	-4.1%	7.85%	1.68%	9.72%	5.84%	6.01%	6.16%	-8.79%	-3.66%	-2.36%
EBITDA Growth %	51.46%	361.82%	-76.99%	178.06%	-53.78%	34.11%	27.85%	-252.03%	62.84%	49.32%
D&A (Non-Cash Add-back)	2.97M	2.49M	1.05M	1.13M	1.08M	1.4M	1.73M	5.01M	3.03M	2.74M
EBIT	-7.91M	3.64M	8.32M	6.03M	-268K	3.67M	18.95M	-14.66M	-6.95M	-27.97M
Net Interest Income+	-417K	379K	738K	852K	162K	-186K	46K	-154K	-500K	213K
Interest Income	0	379K	738K	852K	162K	53K	210K	366K	57K	239K
Interest Expense	417K	0	0	0	0	239K	164K	520K	557K	26K
Other Income/Expense	2.46M	6.19M	3.85M	852K	-2.63M	-291K	1.5M	-212K	-782K	-23.38M
Pretax Income+	-5.45M	9.83M	5.53M	5.77M	-3.12M	3.43M	18.79M	-15.18M	-7.51M	-27.99M
Pretax Margin %	-4.53%	5.98%	3.13%	6.78%	-4.76%	4.03%	17.67%	-13.4%	-7.42%	-35.27%
Income Tax+	3.1M	1.74M	220K	2.63M	791K	1.93M	1.42M	-2.6M	975K	2.33M
Effective Tax Rate %	128.59%	92.89%	96.02%	54.35%	125.39%	43.91%	92.45%	82.87%	112.98%	108.34%
Net Income+	-7.01M	9.13M	5.3M	3.13M	-3.91M	1.51M	17.37M	-12.58M	-8.49M	-30.33M
Net Margin %	-5.83%	5.55%	3.01%	3.69%	-5.97%	1.77%	16.34%	-11.1%	-8.38%	-38.21%
Net Income Growth %	9.82%	230.29%	-41.9%	-40.9%	-224.63%	138.6%	1051.66%	-172.45%	32.55%	-257.37%
Net Income (Continuing)	-8.55M	2.19M	6.63M	3.13M	-3.91M	1.51M	17.37M	-12.58M	-8.49M	-30.33M
Discontinued Operations	0	6.94M	0	-8.3M	-11.82M	0	0	0	0	0
Minority Interest	-1.72M	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.53	0.68	0.35	0.22	-0.28	0.11	1.22	-0.89	-0.60	-2.12
EPS Growth %	18.46%	228.3%	-48.53%	-37.14%	-227.27%	139.29%	1009.09%	-172.95%	32.58%	-253.33%
EPS (Basic)	-0.53	0.68	0.36	0.22	-0.28	0.11	1.24	-0.89	-0.60	-2.12
Diluted Shares Outstanding	13.17M	13.5M	15.06M	14.24M	14.16M	14.34M	14.18M	14.06M	14.21M	14.3M
Basic Shares Outstanding	13.17M	13.38M	14.83M	14.24M	14.16M	14.19M	14.01M	14.06M	14.21M	14.3M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Total Current Assets+	82.92M	157.11M	124.29M	108.27M	76.57M	80.87M	102.94M	81.19M	64.38M	60.18M
Cash & Short-Term Investments	27.66M	51.12M	58.33M	52.98M	45.07M	32.84M	46.87M	13.13M	11.09M	17.9M
Cash Only	27.66M	51.12M	58.33M	52.98M	45.07M	32.84M	46.87M	13.13M	11.09M	17.9M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	26.54M	36.79M	18.28M	12.91M	12.61M	23.55M	25.01M	27.11M	21.99M	19.96M
Days Sales Outstanding	80.51	81.63	37.81	55.41	70.28	100.87	85.89	87.31	79.3	91.79
Inventory	23.22M	30.21M	24.71M	17.53M	17.28M	22.07M	25.49M	34.84M	26.87M	18.74M
Days Inventory Outstanding	98.28	97.94	74.37	123.83	153.72	159	139.3	163.55	150.91	130.6
Other Current Assets	3.55M	38.99M	48.22M	24.85M	1.62M	2.41M	5.56M	6.11M	4.43M	3.57M
Total Non-Current Assets+	35.51M	34.51M	25.12M	18.21M	25.53M	36.05M	30.6M	55.83M	54.58M	38.75M
Property, Plant & Equipment	15.96M	15.79M	16.45M	10.22M	17.12M	22.73M	17.81M	20.91M	28.24M	28.52M
Fixed Asset Turnover	7.54x	10.42x	10.72x	8.32x	3.82x	3.75x	5.97x	5.42x	3.58x	2.78x
Goodwill	11.12M	11.4M	6.63M	6.63M	6.63M	11.17M	11.17M	27.63M	21.26M	908K
Intangible Assets	4.1M	3.5M	1.13M	870K	609K	858K	758K	6.11M	4M	1.09M
Long-Term Investments	3.03M	2.62M	0	0	0	0	0	0	0	0
Other Non-Current Assets	1.09M	1M	901K	487K	602K	661K	783K	1.07M	884K	7.21M
Total Assets+	118.43M	191.62M	149.41M	126.48M	102.1M	116.91M	133.53M	137.02M	118.95M	98.93M
Asset Turnover	1.02x	0.86x	1.18x	0.67x	0.64x	0.73x	0.80x	0.83x	0.85x	0.80x
Asset Growth %	-5.6%	61.8%	-22.03%	-15.35%	-19.28%	14.51%	14.22%	2.61%	-13.19%	-16.83%
Total Current Liabilities+	38.06M	85.97M	45.14M	30.65M	7.48M	15.11M	22.63M	29.72M	19.6M	20.48M
Accounts Payable	15.4M	21.55M	6.87M	4.37M	2.68M	8.23M	7.3M	10.81M	5.36M	7.74M
Days Payables Outstanding	65.16	69.88	20.67	30.87	23.81	59.27	39.9	50.76	30.08	53.9
Short-Term Debt	1.13M	361K	350K	371K	380K	927K	0	2.2M	0	0
Deferred Revenue (Current)	11.76M	52.87M	18.37M	1.38M	1.22M	1.62M	7.23M	8.02M	8.96M	6.46M
Other Current Liabilities	13.66M	54.41M	36.32M	20.38M	2.07M	2.35M	1.77M	3.48M	2.06M	1.61M
Current Ratio	2.18x	1.83x	2.75x	3.53x	10.24x	5.35x	4.55x	2.73x	3.28x	2.94x
Quick Ratio	1.57x	1.48x	2.21x	2.96x	7.93x	3.89x	3.42x	1.56x	1.91x	2.02x
Cash Conversion Cycle	113.63	109.69	91.51	148.37	200.2	200.6	185.28	200.1	200.12	168.49
Total Non-Current Liabilities+	15.03M	15.17M	11.17M	8.38M	13.1M	16.17M	12.54M	18.94M	17M	25.06M
Long-Term Debt	9.1M	8.13M	5.54M	5.18M	4.8M	4.4M	144K	8.37M	0	17.32M
Capital Lease Obligations	0	0	0	0	5.06M	8.39M	9.47M	8.94M	15.43M	17.48M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	6.05M
Other Non-Current Liabilities	5.93M	7.04M	3.21M	3.2M	3.24M	3.38M	2.92M	1.62M	1.57M	-15.79M
Total Liabilities	53.09M	101.14M	56.32M	39.02M	20.58M	31.28M	35.17M	48.66M	36.59M	45.54M
Total Debt+	10.23M	8.49M	8.33M	5.55M	10.37M	14.25M	11.82M	22.2M	17.57M	19.51M
Net Debt	-17.42M	-42.63M	-50M	-47.43M	-34.7M	-18.59M	-35.05M	9.07M	6.49M	1.61M
Debt / Equity	0.16x	0.09x	0.09x	0.06x	0.13x	0.17x	0.12x	0.25x	0.21x	0.37x
Debt / EBITDA	-	0.66x	2.80x	0.67x	2.71x	2.78x	1.81x	-	-	-
Net Debt / EBITDA	-	-3.30x	-16.82x	-5.74x	-9.08x	-3.63x	-5.35x	-	-	-
Interest Coverage	-18.96x	-	-	-	-	15.59x	29.40x	-28.79x	-12.08x	-177.58x
Total Equity+	65.34M	90.48M	93.09M	87.45M	81.52M	85.63M	98.37M	88.36M	82.36M	53.38M
Equity Growth %	-10.06%	38.48%	2.88%	-6.06%	-6.78%	5.05%	14.87%	-10.17%	-6.8%	-35.18%
Book Value per Share	4.96	6.70	6.18	6.14	5.76	5.97	6.94	6.28	5.80	3.73
Total Shareholders' Equity	67.06M	90.48M	93.09M	87.45M	81.52M	85.63M	98.37M	88.36M	82.36M	53.38M
Common Stock	132K	147K	142K	143K	141K	143K	140K	142K	143K	144K
Retained Earnings	-35.83M	-26.7M	-21.39M	-26.56M	-42.41M	-40.9M	-24.46M	-37.05M	-45.53M	-75.86M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-8.88M	-8.53M	-9.97M	-11.23M	-646K	14K	-1.77M	-1.7M	-720K	-959K
Minority Interest	-1.72M	0	0	0	0	0	0	0	0	0

Cash Flow

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Cash from Operations+	-9.69M	11.79M	6.79M	173K	-1.66M	-5.96M	5.2M	-7.7M	9.84M	7.88M
Operating CF Margin %	-8.05%	7.17%	3.85%	0.2%	-2.54%	-7%	4.9%	-6.8%	9.72%	9.93%
Operating CF Growth %	3.75%	221.67%	-42.4%	-97.45%	-1061.85%	-258.29%	187.29%	-247.98%	227.8%	-19.97%
Net Income	-8.55M	8.09M	5.3M	-5.16M	-15.72M	1.51M	17.37M	-12.58M	-8.49M	-30.33M
Depreciation & Amortization	2.97M	2.49M	1.85M	1.69M	1.26M	1.4M	1.73M	5.01M	3.03M	2.74M
Stock-Based Compensation	1.39M	1.33M	855K	573K	326K	401K	543K	1.27M	1.53M	1.23M
Deferred Taxes	2.28M	-27K	209K	220K	218K	-65K	592K	-2.51M	-84K	-838K
Other Non-Cash Items	-831K	420K	4.53M	2.75M	14.52M	631K	-12.39M	8.02M	8.28M	29.75M
Working Capital Changes	-6.95M	-511K	-5.96M	104K	-2.26M	-9.84M	-2.63M	-6.91M	5.57M	5.32M
Change in Receivables	-5M	-8.65M	3.27M	299K	1.36M	-11.02M	-2.48M	4.41M	9.24M	2.08M
Change in Inventory	491K	-6.64M	3.96M	-435K	-913K	-5.18M	-3.68M	-6.29M	5.13M	1.68M
Change in Payables	-225K	5.37M	-10.16M	-1.79M	-3.62M	5.47M	-1.08M	1.46M	-4.94M	2.24M
Cash from Investing+	11.17M	-1.22M	4.35M	-1.83M	-12.62M	-8.09M	18.77M	-37.83M	-2.18M	-912K
Capital Expenditures	-978K	-1.26M	-1.5M	-714K	-2.68M	-3.01M	-1.14M	-2.9M	-4.88M	-950K
CapEx % of Revenue	0.81%	0.76%	0.85%	0.84%	4.09%	3.54%	1.07%	2.56%	4.82%	1.2%
Acquisitions	7.01M	40K	114K	-1.11M	-9.94M	-5.08M	19.91M	-34.94M	0	38K
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	5.14M	40K	5.85M	-1.11M	-9.94M	0	19.91M	6K	2.7M	0
Cash from Financing+	457K	12.7M	-2.48M	-157K	-1.5M	1.17M	-8.27M	11.74M	-10.63M	270K
Debt Issued (Net)	406K	81K	-368K	-367K	-379K	-380K	-4.87M	10.5M	-10.61M	-93K
Equity Issued (Net)	51K	1000K	-1000K	210K	-1000K	0	-1000K	0	0	363K
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	-4M	0	-2M	0	-4.12M	0	0	0
Other Financing	0	18K	1.89M	0	877K	1.55M	720K	1.24M	-26K	0
Net Change in Cash	1.8M	23.47M	7.21M	-3.36M	-14.06M	-12.23M	14.04M	-33.74M	-2.05M	6.82M
Free Cash Flow+	-10.67M	10.53M	5.29M	-541K	-4.34M	-8.97M	4.07M	-10.6M	4.96M	6.93M
FCF Margin %	-8.87%	6.4%	3%	-0.64%	-6.63%	-10.53%	3.83%	-9.35%	4.9%	8.73%
FCF Growth %	0.09%	198.74%	-49.73%	-110.22%	-702.22%	-106.77%	145.34%	-360.48%	146.83%	39.54%
FCF per Share	-0.81	0.78	0.35	-0.04	-0.31	-0.63	0.29	-0.75	0.35	0.48
FCF Conversion (FCF/Net Income)	1.38x	1.29x	1.28x	0.06x	0.43x	-3.95x	0.30x	0.61x	-1.16x	-0.26x
Interest Paid	305K	269K	304K	0	265K	241K	164K	461K	558K	25K
Taxes Paid	116K	146K	980K	0	2.12M	1.87M	386K	2.82M	623K	1.47M

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-10.16%	11.72%	5.78%	3.47%	-4.62%	1.8%	18.88%	-13.48%	-9.94%	-44.68%
Return on Invested Capital (ROIC)	-11.4%	16.33%	3.16%	12.88%	4.74%	4.91%	5.55%	-13.97%	-5.42%	-4.81%
Gross Margin	28.31%	31.57%	31.26%	39.23%	37.34%	40.53%	37.17%	31.37%	35.8%	34%
Net Margin	-5.83%	5.55%	3.01%	3.69%	-5.97%	1.77%	16.34%	-11.1%	-8.38%	-38.21%
Debt / Equity	0.16x	0.09x	0.09x	0.06x	0.13x	0.17x	0.12x	0.25x	0.21x	0.37x
Interest Coverage	-18.96x	-	-	-	-	15.59x	29.40x	-28.79x	-12.08x	-177.58x
FCF Conversion	1.38x	1.29x	1.28x	0.06x	0.43x	-3.95x	0.30x	0.61x	-1.16x	-0.26x
Revenue Growth	14.71%	36.75%	7.24%	-51.8%	-23.02%	30.16%	24.76%	6.6%	-10.68%	-21.59%

Amtech Systems, Inc. (ASYS) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare ASYS vs Peers

vs ASML

vs AMAT

Compare Top 5

Profit & Loss

Balance Sheet

Cash Flow

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Amtech Systems, Inc. (ASYS) 10-Year Financial Performance & Capital Metrics

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Profit & Loss

Balance Sheet

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