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Camtek Ltd.

Rank #337Op. LeverageWatchlistCompare with other stocks

CAMT · Nasdaq · Technology

Camtek Ltd. (CAMT) — Rank #337 by gross profitability (GP/assets 0.20) · ROE 8.2% · Piotroski F-Score N/A.

As-of 2026-10-30 · CIK 0001109138 · all metrics point-in-time as of the filing date.

About

Camtek Ltd., together with its subsidiaries, develops, manufactures, and sells inspection and metrology equipment for semiconductor industry in the United States, China, Korea, Europe, and the Asia Pacific.

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The company offers Hawk, a platform engineered for advanced packaging; Eagle G5 for enhanced detection and metrology; Eagle-i/Plus, a system that delivers 2D inspection and metrology capabilities; Eagle-AP/Plus, which addresses the advanced packaging market using software and hardware technologies that deliver 2D and 3D inspection and metrology capabilities on the same platform; and Golden Eagle for the inspection and metrology of standard panel sizes. It also develops MicroProf AP, a wafer metrology tool for applications at 3D packaging process steps; MicroProf DI, an optical inspection tool that enables inspection of structured and unstructured wafers; MicroProf FE, a 2D/3D wafer metrology tool; MicroProf FS, a wafer metrology tool configurable; MicroProf PT for hybrid metrology applications to common panel sizes; MicroProf MHU metrology tool, a material handling unit for the semiconductor, MEMS, sapphire, and LED industries; MicroProf TL, an optical surface measurement tool for fully automatic 3D surface measurements; MicroProf 200, a measuring device for contactless and non-destructive characterization of surfaces and films; and MicroProf 300, a SurfaceSens technology for quality assurance, development, and manufacturing. The company serves semiconductor manufacturers, outsourced semiconductor assembly and test, integrated device manufacturers, and wafer level packaging subcontractors. Camtek Ltd.

was incorporated in 1987 and is headquartered in Migdal HaEmek, Israel.

Industry
Semiconductor Equipment & Materials
Sector
Technology
State
L3
Filer Category
Large accelerated filer
Fiscal Year End
December 31
Website
camtek.com

Company Snapshot

P/E and reverse DCF are the primary valuation lenses at this stage.

Market Cap

—

P/E (annual)

—

P/S (annual)

—

P/B

—

P/OCF (annual)

—

Shareholder Yield

—

Employees

709

Industry

Semiconductor Equipment & Materials

Exchange

Nasdaq

10/11

Flags passed

CAMT fails 1 critical flag

Passes 10 of 11 quality flags

  • FAIL
    Valuation convergence

    EPS declining, shares diluting, and revenue growth decelerating simultaneously

  • PASS
    Gross margin holding
  • PASS
    Dilution within 2%
  • PASS
    FCF not negative from investment
  • PASS
    Disclosure consistent
  • PASS
    Revenue not declining
  • PASS
    Operating margin holding
  • PASS
    Free cash flow intact
  • PASS
    Passes safety gate
  • PASS
    No competitive retreat
  • PASS
    SBC not compressing margin

Strengths Operating leverage expanding

No data Balance sheet — not counted as a pass.

A count of the 12 warning flags that could be evaluated. Unweighted: colour follows the worst flag.

Quality Profile

Profitability

1/1 pass
GP / assets
0.20
Return on equity
8.2%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
1.04
Current ratio
8.35×
Net cash
$439.65M

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
3.4%

Growth

2/2 pass
Revenue growth
15.6%
Piotroski F-Score
N/A
Share dilution
1.2%

Operating margin expansion and free cash flow are the primary reads at this stage.

Profitability

Does it make money well?

No warning flags · GP/assets 8th percentile of 41 SIC 38 peers

Gross profitability (GP / assets)

0.20

Primary signal (Novy-Marx).

8th pctl of 41 SIC 38 peers

Return on equity

8.2%

Gross margin

50.5%

35th pctl of 41 SIC 38 peers

Revenue growth (YoY)

15.6%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2022202320242025
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

15.6%

Revenue CAGR (5Y)

26.1%

Earnings CAGR (3Y)

-14.1%

FCF CAGR (3Y)

37.0%

Cash Flow Health

Is the cash real?

No warning flags · FCF 151% above net income

Free cash flow

$127.47M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF vs net income

151.3%

(FCF − net income) ÷ |net income|. Positive: cash above earnings. Negative: below.

FCF not below net income

Fails when free cash flow is below net income (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

3.4%

Stock-based comp intensity.

Balance Sheet Strength

Can it survive a storm?

No warning flags · net cash $439.65M

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

1.04

31st pctl of 40 SIC 38 peers (best = lowest)

Current ratio

8.35×

97th pctl of 40 SIC 38 peers

Quick ratio

3.24×

Net cash

$439.65M

Cash & equivalents minus total debt.

Piotroski F-Score

N/A

Only 8/9 components determinable.

Valuation

Is the price reasonable?

Warning: Valuation convergence

Capital allocation quality

Composite score

3.3 / 5

Good
Share count trend
1.2%2/5 Fair
Buyback timing
N/AN/A
Dividend growth consistency(non-payer or broken streak)
0 yr3/5 Good
Net debt trajectory(deleveraging)
15.5%5/5 Strong

Lifecycle Phase History

20202025
Op. Leverage
Hypergrowth
Value

Price History

CAMT+265.9% · +29.5% CAGRSPY+82.9% · +12.8% CAGR

View full financial statements →

Source filings on SEC EDGAR: 10-K annual reports · 10-Q quarterly reports