Camtek (CAMT) AI Stock Analysis

• Market Cap: $5.91B
• Dividend Yield: N/A
• Average Volume (3M): 487.09K
• Price to Earnings (P/E): 44.4
• Beta (1Y): 1.95
• Revenue Growth: 27.88%
• EPS Growth: 37.85%
• Country: US
• Employees: 656
• Sector: Technology
• Sector Strength: 88
• Industry: Semiconductors
• EPS (TTM): 0.79
• Shares Outstanding: 47,794,823
• 10 Day Avg. Volume: 460,379
• 30 Day Avg. Volume: 487,093
• PEG Ratio: 0.63
• Price to Book (P/B): 6.66
• Price to Sales (P/S): 8.52
• P/FCF Ratio: 32.61
• Enterprise Value/Market Cap: 0.67
• Enterprise Value/Revenue: 8.35
• Enterprise Value/Gross Profit: 16.84
• Enterprise Value/Ebitda: 30.07
• 1Y Price Target: $132.00
• Price Target Upside: 10.81% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): 3.18
• Revenue Forecast (FY): $493.78M

• Rating: 77 Outperform
• Price Target: $137.00 ▲(15.01% Upside)

Camtek's overall stock score reflects its robust financial performance and positive earnings call, which highlight strong revenue growth and market position. However, the high valuation and potential short-term technical pullbacks temper the score.

Positive Factors

Revenue Growth

Camtek's robust revenue growth underscores its strong market position and demand for its semiconductor solutions, indicating sustained business expansion.

Product Innovation

Successful new product launches like Hawk and Eagle 5 enhance Camtek's competitive edge and revenue diversification, supporting long-term growth.

Financial Flexibility

The convertible notes offering enhances Camtek's financial flexibility, supporting strategic initiatives and strengthening its market positioning.

Negative Factors

Operating Expenses

Rising operating expenses, driven by geopolitical tensions, could pressure margins and affect profitability if not managed effectively.

Currency Fluctuations

Currency fluctuations impacting financial income pose risks to earnings stability, necessitating effective hedging strategies.

Debt Levels

While leverage is managed prudently, rising debt levels could limit financial flexibility and increase risk if not carefully monitored.

Camtek Business Overview & Revenue Model

Company Description

Camtek Ltd., together with its subsidiaries, develops, manufactures, and sells inspection and metrology equipment for the advanced interconnect packaging, memory, complementary metal oxide semiconductor image sensors, micro-electro mechanical systems, radio frequency, and other segments of the semiconductor industry. It provides inspection and metrology systems, including Eagle-i, a system that delivers 2D inspection and metrology capabilities; Eagle-AP, which addresses the advanced packaging market using software and hardware technologies that deliver superior 2D and 3D inspection and metrology capabilities on the same platform; and Golden Eagle, a panel inspection and metrology system to support fanout wafer level packaging applications. The company sells its products in the Asia Pacific, the United States, and Europe. Camtek Ltd. was incorporated in 1987 and is headquartered in Migdal HaEmek, Israel.

How the Company Makes Money

Camtek generates revenue through the sale of its inspection and metrology equipment, as well as associated software and services. The company's primary revenue streams include direct sales of its hardware and software solutions to semiconductor manufacturers, as well as ongoing maintenance and support contracts. Additionally, Camtek benefits from strategic partnerships with key players in the semiconductor industry, which enhance its market reach and provide access to emerging technologies. The demand for high-precision inspection and metrology solutions, driven by the increasing complexity of semiconductor devices, contributes significantly to the company's earnings.

Camtek Financial Statement Overview

Summary

Camtek demonstrates strong financial performance with impressive revenue and profit growth, effective leverage management, and solid cash generation capabilities. However, variability in operating efficiency and the need for strategic reinvestment warrant attention.

Income Statement

Camtek's income statement highlights robust revenue growth with a compounded annual growth rate of 24.8% over the past five years, indicating a strong market position in the semiconductor industry. Gross profit margin consistently above 48% and a notable increase in net profit margin from 16.4% in 2020 to 27.6% in 2024 demonstrate effective cost management and profitability enhancement. However, fluctuations in EBIT and EBITDA margins over the years suggest potential variability in operating efficiency.

Balance Sheet

Camtek's balance sheet reflects a stable financial structure with a consistent increase in stockholders' equity, resulting in an improved equity ratio from 47.4% in 2020 to 61.6% in 2024. The debt-to-equity ratio remains low at 0.38, indicating prudent leverage management. The company has successfully maintained a positive net debt position, enhancing financial flexibility. However, the increase in total debt requires monitoring to ensure sustained financial health.

Cash Flow

Camtek's cash flow statement shows a positive trend in operating cash flow, growing by more than threefold from 2019 to 2024. Free cash flow has increased significantly, supporting capital investments without reliance on external financing. The operating cash flow to net income ratio is healthy, reflecting efficient cash conversion. However, the volatility in investing cash flows warrants attention to ensure consistent reinvestment strategies.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	471.59M	429.23M	315.38M	320.91M	269.66M	155.86M
Gross Profit	233.76M	209.95M	147.63M	159.86M	137.34M	73.23M
EBITDA	130.88M	143.00M	94.51M	93.38M	73.71M	24.86M
Net Income	133.76M	118.52M	78.63M	79.95M	60.28M	21.78M
Balance Sheet
Total Assets	974.74M	892.04M	787.67M	677.09M	583.76M	287.91M
Cash, Cash Equivalents and Short-Term Investments	435.99M	388.04M	354.03M	399.66M	397.94M	177.81M
Total Debt	198.47M	207.07M	201.15M	199.44M	197.57M	1.42M
Total Liabilities	348.26M	342.81M	311.52M	292.99M	290.13M	60.64M
Stockholders Equity	626.48M	549.24M	476.15M	384.10M	293.63M	227.26M
Cash Flow
Free Cash Flow	0.00	112.14M	71.05M	49.51M	56.78M	23.13M
Operating Cash Flow	0.00	122.24M	79.32M	57.80M	60.96M	25.75M
Investing Cash Flow	0.00	-55.91M	-107.45M	-150.79M	-120.18M	-23.13M
Financing Cash Flow	0.00	-60.05M	182.00K	3.00K	194.80M	64.92M

Camtek Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 119.12
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CAMT, the sentiment is Neutral. The current price of 119.12 is below the 20-day moving average (MA) of 121.19, above the 50-day MA of 106.74, and above the 200-day MA of 83.84, indicating a neutral trend. The MACD of 3.45 indicates Positive momentum. The RSI at 52.42 is Neutral, neither overbought nor oversold. The STOCH value of 42.44 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CAMT.

Camtek Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NVMI	81 Outperform	$10.45B	42.91	23.58%	―	39.37%	40.87%
ONTO	79 Outperform	$6.65B	32.61	8.96%	―	6.38%	-4.15%
CAMT	77 Outperform	$5.91B	44.40	24.28%	―	27.88%	37.85%
SIMO	76 Outperform	$3.24B	32.82	11.88%	1.93%	-2.26%	9.74%
ACLS	72 Outperform	$2.55B	20.27	13.62%	―	-20.69%	-37.67%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
ALGM	58 Neutral	$5.08B	―	-3.02%	―	-7.23%	-15.69%

Camtek Corporate Events

Camtek Completes $500 Million Convertible Notes Offering

On September 16, 2025, Camtek Ltd successfully closed its offering of $500 million in 0.00% Convertible Senior Notes due 2030, including $75 million of additional notes. This strategic financial move is aimed at repurchasing existing notes and supporting general corporate purposes, potentially enhancing Camtek’s operational flexibility and market positioning.

Camtek Upsizes Convertible Notes Offering to $425 Million

On September 12, 2025, Camtek Ltd. announced the pricing of an upsized private offering of $425 million in convertible senior notes due 2030, aimed at qualified institutional buyers. This offering, increased from the initially planned $400 million, is expected to close on September 16, 2025, and includes an option for purchasers to buy an additional $75 million in notes. The proceeds will be used to repurchase $167.1 million of its 2026 notes and for general corporate purposes, potentially impacting Camtek’s financial flexibility and market positioning.

Camtek Announces $400 Million Convertible Notes Offering

On September 11, 2025, Camtek Ltd. announced a proposed private offering of $400 million in 0.00% convertible senior notes due 2030, aimed at qualified institutional buyers. The proceeds are intended to repurchase a portion of its 0% senior convertible notes due 2026 and for general corporate purposes, including potential acquisitions and R&D. This move is expected to impact Camtek’s financial strategy and market positioning, as it seeks to leverage its resources for growth and maintain its competitive edge in the semiconductor industry.

Camtek Reports Record Q2 2025 Results and Projects Continued Growth

On August 5, 2025, Camtek Ltd. announced record financial results for the second quarter of 2025, with revenues reaching $123.3 million, marking a 20% year-over-year increase. The company reported a GAAP gross margin of 50.8% and a non-GAAP gross margin of 51.9%, alongside significant increases in operating and net income. Camtek’s CEO, Rafi Amit, attributed the company’s growth to high-performance computing applications for AI and advancements in the Advanced Packaging segment. The company anticipates continued growth in the third quarter, expecting revenues of approximately $125 million, driven by demand for next-generation inspection and metrology tools.