The company maintains a conservative capital structure with a debt-to-equity ratio of 0.32 and a strong liquidity position evidenced by a 5.41 current ratio as of 2025Q2.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 |
|---|
| Total Current Assets | 702.94M | 897M | 620.06M | 546.79M | 556.96M | 520.18M | 261.92M | 147.7M | 119.3M | 91.45M | 84.91M | 95.76M | 77.56M | 70.43M | 71.24M | 79.92M | 65.31M | 50.76M | 46.28M | 80.73M | 98.92M | 65.28M | 58.68M | 44.29M | 38.44M | 49.72M | 61.38M | 14.86M |
| Cash & Short-Term Investments | 435.99M | 668.16M | 388.04M | 354.03M | 399.66M | 397.94M | 177.81M | 89.55M | 54.94M | 43.74M | 19.74M | 30.83M | 26.83M | 22.5M | 26.03M | 22.18M | 9.58M | 15.8M | 15.95M | 20M | 25.46M | 10.81M | 9.14M | 12.84M | 13.81M | 20.94M | 36.38M | 538K |
| Cash Only | 192.03M | 177.85M | 126.22M | 119.97M | 148.16M | 241.94M | 105.81M | 38.05M | 54.94M | 43.74M | 19.74M | 30.83M | 18.22M | 16.5M | 18.87M | 22.18M | 9.58M | 15.8M | 15.95M | 18.6M | 23.36M | 8.71M | 9.14M | 12.84M | 2.9M | 7.03M | 9.79M | 538K |
| Short-Term Investments | 243.97M | 490.31M | 261.81M | 234.07M | 251.5M | 156M | 72M | 51.5M | 0 | 0 | 0 | 0 | 8.61M | 6M | 7.16M | 0 | 0 | 0 | 0 | 1.4M | 2.1M | 2.1M | 0 | 0 | 10.91M | 13.91M | 26.59M | 0 |
| Accounts Receivable | 127.79M | 90.83M | 114.2M | 99.38M | 87.19M | 60.91M | 43.48M | 33.67M | 33.09M | 23.76M | 23.81M | 27.56M | 22.84M | 27.7M | 24.11M | 27.58M | 29.2M | 19.06M | 19.3M | 25.29M | 29.61M | 26.41M | 22.56M | 15.97M | 11.1M | 14.19M | 11.13M | 6.59M |
| Days Sales Outstanding | 79.94 | 66.83 | 97.11 | 115.01 | 99.17 | 82.45 | 101.82 | 91.69 | 98.04 | 92.77 | 79.34 | 101.34 | 94.41 | 118.4 | 104.1 | 94.06 | 121.42 | 129.96 | 93.37 | 130.07 | 108.03 | 152.94 | 122.12 | 187.17 | 179.39 | 117.55 | 76.48 | 100.65 |
| Inventory | 133.71M | 112.2M | 111.2M | 85.91M | 65.54M | 58.76M | 39.74M | 23.8M | 30.11M | 21.34M | 25.45M | 27.6M | 24.65M | 17.91M | 19.34M | 24.28M | 24.03M | 14.18M | 9.79M | 34.24M | 41.41M | 24.94M | 24.89M | 13.69M | 12.03M | 12.04M | 10.7M | 6.57M |
| Days Inventory Outstanding | 186.46 | 166.64 | 185.1 | 186.93 | 148.54 | 162.09 | 175.53 | 125.49 | 176.18 | 162.36 | 153.18 | 179.41 | 190.24 | 128.18 | 148.67 | 148.71 | 177.72 | 143.57 | 75.06 | 298.01 | 312.05 | 277.72 | 289.71 | 296.94 | 284.23 | 202.96 | 165.25 | 205.35 |
| Other Current Assets | 5.45M | 25.8M | 1.12M | 2.31M | 747K | 542K | 435K | 209K | 2.31M | 2.65M | 26.89M | 9.16M | 2.66M | 1.68M | 1.16M | 1.22M | 2.85M | 1.16M | 616K | 710K | 1.96M | 3.11M | 2.09M | 1.79M | 1.5M | 2.56M | 3.17M | 1.16M |
| Total Non-Current Assets | 271.8M | 362.84M | 271.98M | 240.88M | 120.12M | 65.43M | 27.48M | 23.7M | 22.25M | 21.59M | 20.63M | 20.51M | 18.95M | 21.42M | 27.55M | 24.99M | 30.96M | 29.66M | 38.46M | 17.73M | 11.88M | 9.96M | 9.96M | 9.9M | 10.51M | 11.53M | 4.34M | 3.75M |
| Property, Plant & Equipment | 56.8M | 65.11M | 54.2M | 41.99M | 33.14M | 25.4M | 20.4M | 18.53M | 17.12M | 15.5M | 14.11M | 13.53M | 13.03M | 14.48M | 15.82M | 14.58M | 15.08M | 15.39M | 15.65M | 15.32M | 10.73M | 9.96M | 9.96M | 9.9M | 10.51M | 11.22M | 3.82M | 2.56M |
| Fixed Asset Turnover | 8.84x | 7.62x | 7.92x | 7.51x | 9.68x | 10.62x | 7.64x | 7.23x | 7.20x | 6.03x | 7.76x | 7.34x | 6.78x | 5.90x | 5.34x | 7.34x | 5.82x | 3.48x | 4.82x | 4.63x | 9.33x | 6.33x | 6.77x | 3.15x | 2.15x | 3.93x | 13.91x | 9.35x |
| Goodwill | 74.34M | 74.34M | 74.34M | 74.34M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.55M | 1.55M | 1.5M | 3.65M | 3.65M | 3.65M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 11.66M | 10.06M | 13.36M | 16.94M | 597K | 610K | 609K | 491K | 476K | 482K | 865K | 795K | 928K | 1.01M | 2.97M | 4.19M | 4.16M | 4.36M | 575K | -169K | 112K | 0 | 0 | 0 | 0 | 0 | 76K | 255K |
| Long-Term Investments | 391.27M | 182.94M | 113.11M | 94.58M | 79M | 0 | 0 | 0 | 0 | 0 | 0 | 248K | 729K | 729K | 729K | 0 | 0 | 0 | 0 | 169K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 37.42M | 17.45M | 13.88M | 10.39M | 6.38M | 37.34M | 4.5M | 2.9M | 2.29M | 1.54M | 2.38M | 1.98M | 1.82M | 2.56M | 6.39M | 2.41M | 7.95M | 5.12M | 22.11M | 1.8M | 674K | 0 | 0 | 0 | 0 | 0 | 0 | 942K |
| Total Assets | 974.74M | 1.26B | 892.04M | 787.67M | 677.09M | 585.61M | 289.4M | 171.4M | 141.55M | 113.04M | 105.54M | 116.27M | 96.51M | 91.85M | 98.78M | 104.91M | 96.27M | 80.42M | 84.73M | 98.47M | 110.81M | 75.24M | 68.64M | 54.19M | 48.95M | 61.25M | 65.73M | 18.61M |
| Asset Turnover | 0.52x | 0.39x | 0.48x | 0.40x | 0.47x | 0.46x | 0.54x | 0.78x | 0.87x | 0.83x | 1.04x | 0.85x | 0.92x | 0.93x | 0.86x | 1.02x | 0.91x | 0.67x | 0.89x | 0.72x | 0.90x | 0.84x | 0.98x | 0.57x | 0.46x | 0.72x | 0.81x | 1.28x |
| Asset Growth % | 64.06% | 41.23% | 13.25% | 16.33% | 15.62% | 102.36% | 68.84% | 21.09% | 25.22% | 7.1% | -9.23% | 20.47% | 5.07% | -7.02% | -5.84% | 8.97% | 19.71% | -5.09% | -13.94% | -11.14% | 47.27% | 9.61% | 26.68% | 10.7% | -20.09% | -6.81% | 253.12% | - |
| Total Current Liabilities | 129.97M | 107.42M | 123.91M | 96.67M | 88.5M | 89.69M | 57.38M | 31.61M | 39.24M | 27.9M | 31.3M | 42.52M | 25.81M | 23.34M | 27.3M | 33.29M | 33.01M | 19.11M | 20.08M | 21.96M | 25.45M | 17.4M | 18.64M | 14.92M | 8.24M | 14.87M | 15.89M | 15.16M |
| Accounts Payable | 40.9M | 33.68M | 46.63M | 42.19M | 31.67M | 33.55M | 27.18M | 11.33M | 15.54M | 10.5M | 10.3M | 11.81M | 9.49M | 7.75M | 7.61M | 6.77M | 9.76M | 4.49M | 5.53M | 7.96M | 11.8M | 8.68M | 8.21M | 6.99M | 3.01M | 2.86M | 6.38M | 2.21M |
| Days Payables Outstanding | 69.99 | 50.02 | 77.62 | 91.8 | 71.77 | 92.55 | 120.06 | 59.75 | 90.94 | 79.92 | 62.02 | 76.78 | 73.24 | 55.48 | 58.5 | 41.49 | 72.18 | 45.51 | 42.42 | 69.28 | 88.92 | 96.63 | 95.61 | 151.54 | 71.06 | 48.16 | 98.49 | 69.06 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 1.02M | 736K | 826K | 0 | 0 | 0 | 0 | 0 | 0 | 5.75M | 4.7M | 1.84M | 1.67M | 3.17M | 1.67M | 0 | 0 | 2.33M | 2.3M | 39K | 4.82M | 931K | 6.79M |
| Deferred Revenue (Current) | 66.54M | 0 | 28.92M | 14.7M | 12.82M | 10.84M | 6.16M | 2M | 4.03M | 3.59M | 2.29M | 1.96M | 1.42M | 1.99M | 1.84M | 2.19M | 1.84M | 1.7M | 2.6M | 5.26M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | -6.4M | 73.75M | 28.44M | 26.73M | 29.99M | 21.79M | 12.86M | 9.03M | 5.75M | 7.56M | 15.68M | 24.08M | 8.56M | 9.04M | 8.05M | 12.24M | 15.13M | 8.58M | 2.32M | 6.71M | 8.82M | 4.93M | 8.1M | 5.64M | 5.2M | 7.2M | 8.59M | 6.16M |
| Current Ratio | 5.41x | 8.35x | 5.00x | 5.66x | 6.29x | 5.80x | 4.56x | 4.67x | 3.04x | 3.28x | 2.71x | 2.25x | 3.01x | 3.02x | 2.61x | 2.40x | 1.98x | 2.66x | 2.30x | 3.68x | 3.89x | 3.75x | 3.15x | 2.97x | 4.66x | 3.34x | 3.86x | 0.98x |
| Quick Ratio | 4.38x | 7.31x | 4.11x | 4.77x | 5.55x | 5.14x | 3.87x | 3.92x | 2.27x | 2.51x | 1.90x | 1.60x | 2.05x | 2.25x | 1.90x | 1.67x | 1.25x | 1.92x | 1.82x | 2.12x | 2.26x | 2.32x | 1.81x | 2.05x | 3.20x | 2.53x | 3.19x | 0.55x |
| Cash Conversion Cycle | 196.41 | 183.46 | 204.59 | 210.14 | 175.94 | 151.99 | 157.28 | 157.43 | 183.29 | 175.21 | 170.5 | 203.96 | 211.41 | 191.1 | 194.27 | 201.28 | 226.96 | 228.02 | 126.01 | 358.81 | 331.16 | 334.04 | 316.22 | 332.57 | 392.56 | 272.34 | 143.24 | 236.93 |
| Total Non-Current Liabilities | 218.28M | 535.4M | 218.9M | 214.84M | 204.49M | 202.3M | 4.75M | 3.49M | 898K | 838K | 870K | 5.54M | 4.97M | 6.62M | 11.14M | 11.69M | 9.27M | 10.3M | 1.94M | 3.6M | 5.22M | 5.22M | 222K | 412K | 390K | 362K | 64K | 59K |
| Long-Term Debt | 198.47M | 519.83M | 197.93M | 196.83M | 195.74M | 194.64M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 500K | 2.09M | 758K | 0 | 1.67M | 3.33M | 5M | 5M | 0 | 0 | 12K | 55K | 0 | 0 |
| Capital Lease Obligations | 6.66M | 0 | 6.66M | 2.63M | 2.4M | 1.91M | 679K | 776K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 21.34M | 1.26M | 5.61M | 7.54M | 0 | 1.85M | 1.49M | 1.03M | 740K | 666K | 656K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 14.6M | 14.31M | 1.4M | 1.58M | 1.28M | 1.27M | 1.24M | 1.68M | 1.42M | 838K | 870K | 5.54M | 5.01M | 6.62M | 10.96M | 9.69M | 8.51M | 10.3M | 271K | 268K | 222K | 222K | 222K | 412K | 378K | 307K | 64K | 59K |
| Total Liabilities | 348.26M | 642.83M | 342.81M | 311.52M | 292.99M | 291.98M | 62.13M | 35.1M | 40.14M | 28.73M | 32.17M | 48.06M | 30.78M | 29.95M | 38.45M | 44.98M | 42.28M | 29.4M | 22.02M | 25.56M | 30.67M | 22.62M | 18.87M | 15.34M | 8.63M | 15.23M | 15.96M | 15.22M |
| Total Debt | 200.68M | 519.83M | 207.07M | 201.15M | 199.44M | 197.57M | 1.42M | 1.6M | 0 | 0 | 0 | 0 | 0 | 0 | 6.25M | 6.79M | 2.6M | 1.67M | 4.83M | 5M | 5M | 5M | 2.33M | 2.3M | 51K | 4.87M | 931K | 6.79M |
| Net Debt | 8.66M | 341.98M | 80.85M | 81.18M | 51.28M | -44.37M | -104.4M | -36.45M | -54.94M | -43.74M | -19.74M | -30.83M | -18.22M | -16.5M | -12.62M | -15.39M | -6.98M | -14.14M | -11.12M | -13.6M | -18.36M | -3.71M | -6.81M | -10.54M | -2.85M | -2.16M | -8.86M | 6.26M |
| Debt / Equity | 0.32x | 0.84x | 0.38x | 0.42x | 0.52x | 0.67x | 0.01x | 0.01x | - | - | - | - | - | - | 0.10x | 0.11x | 0.05x | 0.03x | 0.08x | 0.07x | 0.06x | 0.10x | 0.05x | 0.06x | 0.00x | 0.11x | 0.02x | 2.00x |
| Debt / EBITDA | 1.20x | 3.71x | 1.74x | 2.83x | 2.33x | 2.68x | 0.06x | 0.07x | - | - | - | - | - | - | 3.08x | 0.60x | 0.37x | - | - | - | 0.37x | 1.31x | 0.19x | - | - | - | 0.08x | 3.46x |
| Net Debt / EBITDA | 0.05x | 2.44x | 0.68x | 1.14x | 0.60x | -0.60x | -4.20x | -1.51x | -2.50x | - | -2.30x | - | -2.49x | -4.43x | -6.21x | -1.35x | -0.98x | - | - | - | -1.36x | -0.98x | -0.54x | - | - | - | -0.72x | 3.19x |
| Interest Coverage | 4503.46x | - | 120.96x | 50.55x | 81.61x | 165.97x | 151.96x | - | - | -244.15x | 2.91x | -6.11x | 3.21x | -1.51x | - | 66.91x | 31.12x | -70.60x | -30.72x | -21.90x | - | - | - | - | - | - | - | - |
| Total Equity | 626.48M | 617M | 549.24M | 476.15M | 384.1M | 293.63M | 227.26M | 136.3M | 101.41M | 84.3M | 73.36M | 68.2M | 65.73M | 61.9M | 60.34M | 59.93M | 53.99M | 51.02M | 62.72M | 72.91M | 80.14M | 52.62M | 49.78M | 38.85M | 40.32M | 46.02M | 49.77M | 3.39M |
| Equity Growth % | 93.45% | 12.34% | 15.35% | 23.96% | 30.81% | 29.2% | 66.74% | 34.41% | 20.29% | 14.91% | 7.57% | 3.76% | 6.2% | 2.58% | 0.67% | 11% | 5.82% | -18.65% | -13.98% | -9.02% | 52.3% | 5.71% | 28.12% | -3.63% | -12.4% | -7.53% | 1368.57% | - |
| Book Value per Share | 12.70 | 12.35 | 11.13 | 9.74 | 7.96 | 6.52 | 5.63 | 3.55 | 2.76 | 2.34 | 2.07 | 2.04 | 2.15 | 2.06 | 2.01 | 2.00 | 1.78 | 1.75 | 2.10 | 2.42 | 2.71 | 1.91 | 1.79 | 1.44 | 1.67 | 2.09 | 2.59 | 0.21 |
| Total Shareholders' Equity | 626.48M | 617M | 549.24M | 476.15M | 384.1M | 293.63M | 227.26M | 136.3M | 101.41M | 84.3M | 73.36M | 68.2M | 65.73M | 61.9M | 60.34M | 59.93M | 53.99M | 51.02M | 62.72M | 72.91M | 80.14M | 52.62M | 49.78M | 38.85M | 40.32M | 46.02M | 49.77M | 3.39M |
| Common Stock | 178K | 178K | 177K | 176K | 175K | 172K | 171K | 157K | 151K | 149K | 148K | 148K | 134K | 134K | 133K | 133K | 132K | 132K | 132K | 132K | 132K | 125K | 125K | 125K | 125K | 112K | 112K | 98K |
| Retained Earnings | 403.83M | 386.54M | 335.82M | 277.35M | 198.72M | 118.77M | 58.49M | 36.72M | 21.28M | 7.61M | -1.35M | -6.08M | 4.03M | 694K | 687K | 684K | -4.69M | -7.51M | 4.33M | 13.89M | 21.58M | 9.98M | 7.28M | -3.52M | -1.95M | 9.34M | 13.05M | 2.16M |
| Treasury Stock | -1.9M | -1.9M | -1.9M | -1.9M | -1.9M | -1.9M | -1.9M | -1.9M | -1.9M | -1.9M | -1.9M | -1.9M | -1.9M | -1.9M | -1.9M | -1.9M | -1.9M | -1.9M | -1.9M | -993K | -993K | -993K | -993K | -993K | -993K | -592K | 0 | 0 |
| Accumulated OCI | 1.17M | 287K | 203K | 129K | 0 | 0 | 0 | 0 | -10.89M | -10.58M | -10.79M | -11.79M | -10.99M | -10.01M | -13.01M | -12M | -11.41M | -9.87M | -7.98M | -6.31M | -1K | -223K | -363K | -560K | -129K | -34K | -322K | -108K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Geopolitical and concentration exposure
According to the latest quarterly financial statements, Camtek has grown its total assets from $683.4 million in 2023Q1 to $974.7 million in 2025Q2, signaling a consistent expansion of the balance sheet as the company scales to meet heightened demand for advanced semiconductor packaging inspection solutions.
The steady increase in total assets suggests that the company is successfully reinvesting in its operational capacity to support its growth trajectory. Investors should monitor whether this asset growth continues to translate into proportional revenue gains or if it indicates an accumulation of inventory ahead of cyclical demand shifts.
As reported in recent financial filings, Camtek maintains a debt-to-equity ratio of 0.32 as of 2025Q2, with total debt remaining relatively stable near $200 million, suggesting a disciplined approach to capital structure that prioritizes balance sheet stability over aggressive debt-funded expansion.
This moderate leverage profile provides the company with significant financial flexibility to navigate the inherent volatility of the semiconductor equipment sector. The stability of the debt load indicates that management is not relying on external financing to fund its core operations, which may mitigate interest rate risk.
Based on the provided balance sheet data, Camtek maintains a robust current ratio of 5.41 as of 2025Q2, indicating a substantial liquidity buffer that allows the company to comfortably cover its short-term obligations while maintaining operational continuity in a capital-intensive industry.
The high current ratio suggests that the company is well-positioned to manage potential supply chain disruptions or sudden shifts in customer demand. This liquidity position appears to be a strategic choice, providing a necessary cushion against the geopolitical and regional risks associated with its manufacturing base.
As indicated by the company's financial statements, equity has grown from $404.5 million in 2023Q1 to $626.5 million in 2025Q2, primarily driven by the consistent accumulation of retained earnings, which rose to $403.8 million over the same period.
The steady build-up of retained earnings reflects the company's ability to generate profitable growth internally without relying on dilutive equity financing. This trend suggests a high-quality equity base that is supported by operational success rather than external capital injections.
Analysis of the balance sheet reveals that goodwill has remained relatively contained at $74.3 million since 2024Q2, suggesting that the company's past acquisitions, such as FRT Metrology, have not resulted in an excessive accumulation of intangible assets that could pose a future impairment risk.
The limited presence of goodwill on the balance sheet implies that the company's valuation is primarily supported by tangible assets and operational performance rather than speculative acquisition premiums. This conservative accounting approach warrants further investigation to ensure that future M&A activity does not deviate from this disciplined strategy.
Quick answers to the most common questions about buying CAMT stock.
As of 2025, Camtek Ltd. (CAMT) had total assets of $1.26B including $897.0M in current assets.
Camtek Ltd. (CAMT) carries total debt of $519.8M, offset by $668.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Camtek Ltd. (CAMT) has total shareholders' equity (book value) of $617.0M ($12.35 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Camtek Ltd. (CAMT) reported a current ratio of 8.35x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.