Amtech Systems (ASYS)
NASDAQ:ASYS
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Amtech Systems
(NASDAQ:ASYS)
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Rating:56Neutral
Price Target:
$15.00
▲(1.69% Upside)
Action:ReiteratedDate:03/07/26
The score is held back primarily by weak TTM profitability despite supportive cash flow and a manageable balance sheet. Earnings-call indicators (improving margins, positive bookings, and sequential growth guidance) provide an offset, while valuation is a notable headwind and technicals are broadly neutral with some overbought risk.
Positive Factors
Improving gross margins
A sustained gross margin expansion to 44.8% reflects structural improvement from product rationalization and higher-value AI-related sales. Higher gross margins improve resiliency to volume swings, allow reinvestment in R&D and services, and support durable operating leverage as volumes scale.
Negative Factors
Deep negative profitability
A deeply negative net margin (around -38% TTM) signals that operating losses remain a structural weakness. Persistent unprofitability erodes equity, suppresses returns, and limits reinvestment capacity; until operating profitability is restored, balance sheet and shareholder return metrics remain impaired.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving gross margins
A sustained gross margin expansion to 44.8% reflects structural improvement from product rationalization and higher-value AI-related sales. Higher gross margins improve resiliency to volume swings, allow reinvestment in R&D and services, and support durable operating leverage as volumes scale.
Read all positive factors
Amtech Systems (ASYS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$212.50M
Dividend YieldN/A
Average Volume (3M)169.87K
Price to Earnings (P/E)417.2
Beta (1Y)0.93
Revenue Growth-21.59%
EPS Growth-254.69%
CountryUS
Employees328
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)0.01
Shares Outstanding14,406,485
10 Day Avg. Volume133,733
30 Day Avg. Volume169,866
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)2.48
Price to Sales (P/S)1.67
P/FCF Ratio19.12
Enterprise Value/Market Cap0.99
Enterprise Value/Revenue2.83
Enterprise Value/Gross Profit8.02
Enterprise Value/Ebitda-8.09
Forecast
1Y Price Target
$16.00Price Target Upside8.47% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.42
Revenue Forecast (FY)$87.00M
Amtech Systems Business Overview & Revenue Model
Company Description
Amtech 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) worldwi...
How the Company Makes Money
Amtech Systems makes money primarily by selling specialized manufacturing equipment (capital equipment) used by semiconductor and advanced materials producers. Revenue is generated from (1) equipment/system sales, where customers purchase tools an...
Amtech Systems Earnings Call Summary
Earnings Call Date:Feb 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:May 13, 2026
Earnings Call Sentiment Positive
The call highlights a clear operational turnaround and meaningful positive momentum driven by AI-related demand: strong bookings (book-to-bill 1.1), improving gross margins (44.8% vs 38.4% YoY), healthy operating cash generation ($4.1M; ninth consecutive quarter), and strategic wins in panel-level packaging and specialty chemicals. These positives are tempered by softness in mature-node products (Pura Hoffman), a sequential drop in GAAP net income, modest increases in SG&A/R&D, timing shifts in deliveries into Q3, and tax/FX exposures. Overall, the company presented stronger fundamentals and growth opportunities that appear to outweigh current challenges.Positive Updates
Revenue and Adjusted EBITDA In Line with Guidance
Net revenue of $19.0M for Q1 FY2026 (midpoint of guidance) and adjusted EBITDA of $1.4M, both within guided ranges.
Negative Updates
Weak Demand for Pura Hoffman / Mature Node Exposure
Poor demand for Pura Hoffman products negatively impacted Semiconductor Fabrication Solutions (SFS) results; management cited weakness in mature-node semiconductor markets (e.g., automotive electronics) and severe cost pressures from major silicon carbide customers.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue and Adjusted EBITDA In Line with Guidance
Net revenue of $19.0M for Q1 FY2026 (midpoint of guidance) and adjusted EBITDA of $1.4M, both within guided ranges.
Read all positive updates
Company Guidance
Amtech guided Q2 (fiscal Q2 ending 03/31/2026) revenue of $19.0–$21.0 million (midpoint a sequential increase from Q1’s $19.0M), with adjusted EBITDA margins expected in the high single digits; Q1 results referenced on the call included $19.0M revenue, $1.4M adjusted EBITDA (midpoint of guidance), GAAP net income of $0.1M ($0.01/share), gross margin of 44.8% (up from 44.4% in Q4 and 38.4% YoY), book-to-bill of 1.1, AI-related products comprising ~35% of TPS revenue (vs ~30% in Q4) with AI revenues up ~10% sequentially, operating cash flow of $4.1M in Q1, ending cash of $22.1M (no debt, cash up 67% YoY/$8.9M in past 12 months), and expected full-year capex below $1.0M.Amtech Systems Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
62
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 73.95M | 79.36M | 101.21M | 113.31M | 106.30M | 85.20M |
| Gross Profit | 26.11M | 26.98M | 36.23M | 35.55M | 39.51M | 34.53M |
| EBITDA | -25.89M | -25.22M | -3.92M | -9.65M | 20.68M | 5.07M |
| Net Income | -30.99M | -30.33M | -8.49M | -12.58M | 17.37M | 1.51M |
Balance Sheet | ||||||
| Total Assets | 94.14M | 92.87M | 119.31M | 137.02M | 133.53M | 116.91M |
| Cash, Cash Equivalents and Short-Term Investments | 22.08M | 17.90M | 11.09M | 13.13M | 46.87M | 32.84M |
| Total Debt | 19.10M | 19.51M | 17.57M | 32.89M | 12.15M | 18.12M |
| Total Liabilities | 40.05M | 39.49M | 36.95M | 48.66M | 35.17M | 31.28M |
| Stockholders Equity | 54.10M | 53.38M | 82.36M | 88.36M | 98.37M | 85.63M |
Cash Flow | ||||||
| Free Cash Flow | 8.03M | 6.93M | 4.96M | -10.60M | 4.07M | -8.97M |
| Operating Cash Flow | 9.11M | 7.88M | 9.84M | -7.70M | 5.20M | -5.96M |
| Investing Cash Flow | -1.05M | -912.00K | -2.18M | -37.83M | 18.77M | -8.09M |
| Financing Cash Flow | 275.00K | 270.00K | -10.63M | 11.74M | -8.27M | 1.17M |
Amtech Systems Technical Analysis
Positive
14.75
Price Trends
12.85
Positive
12.25
Positive
9.49
Positive
Market Momentum
0.21
Negative
67.18
Neutral
92.83
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ASYS, the sentiment is Positive. The current price of 14.75 is above the 20-day moving average (MA) of 12.01, above the 50-day MA of 12.85, and above the 200-day MA of 9.49, indicating a bullish trend. The MACD of 0.21 indicates Negative momentum. The RSI at 67.18 is Neutral, neither overbought nor oversold. The STOCH value of 92.83 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ASYS.
Amtech Systems Risk Analysis
Amtech Systems disclosed 31 risk factors in its most recent earnings report. Amtech Systems reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Amtech Systems Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | $197.43M | -36.08 | -2.48% | ― | -2.20% | -204.45% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
58 Neutral | $3.57B | -33.79 | -10.41% | ― | -4.54% | -119.39% | |
56 Neutral | $212.50M | 417.23 | -58.96% | ― | -21.59% | -254.69% | |
53 Neutral | $202.64M | -17.74 | -22.69% | ― | 22.00% | 28.06% | |
49 Neutral | $108.96M | -3.11 | -11.40% | ― | -7.79% | 10.04% | |
48 Neutral | $197.10M | -3.38 | -116.86% | ― | -94.26% | 3.20% |
* Technology Sector Average
ASYS
Amtech Systems
14.75
10.99
292.29%
AXTI
AXT
64.18
63.02
5432.76%
GSIT
GSI Technology
5.60
2.83
102.17%
INTT
inTEST
15.80
9.88
166.89%
MX
MagnaChip
2.99
0.14
4.91%
ATOM
Atomera
5.09
1.09
27.25%
Amtech Systems Corporate Events
Executive/Board ChangesShareholder Meetings
Amtech Shareholders Back Board, Auditor and Executive Pay
Positive
Mar 6, 2026
On March 4, 2026, Amtech Systems, Inc. held its 2026 Annual Meeting of Shareholders, with 72.73% of the 14,394,885 eligible common shares represented in person or by proxy. Shareholders elected five directors, including Robert C. Daigle and Michae...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.