Investment Thesis
ASYS exhibits solid financial stability with strong liquidity (2.90x current ratio), minimal debt, and positive free cash flow generation (20.2% FCF margin). However, profitability is severely constrained with near-flat revenue growth, razor-thin net margins (0.6%), and concerning returns on equity (0.2%) and assets (0.1%), indicating capital is not being deployed efficiently despite adequate balance sheet strength.
ASYS Strengths
- Excellent liquidity position with 2.90x current ratio and $22.1M cash reserves
- Minimal leverage with debt/equity ratio near zero and strong interest coverage of 110.7x
- Positive free cash flow generation of $3.8M with 20.2% FCF margin demonstrates operational cash generation capability
- Low long-term debt of only $162K reduces financial risk
ASYS Risks
- Stagnant revenue growth at 0.0% YoY indicates no top-line expansion or market share gains
- Critically low profitability with net margin of only 0.6% and operating margin of 4.1% leaves minimal room for error
- Extremely poor capital efficiency with ROE of 0.2% and ROA of 0.1% suggests $54.1M equity is underutilized
- Diluted EPS declined 253.3% YoY signaling significant per-share value deterioration
- Operating income of only $775K on $19M revenue suggests operational challenges in a specialty machinery sector
Key Metrics to Watch
- Revenue growth trajectory and order backlog trends
- Gross margin sustainability and operating leverage improvement
- Return on equity progression as indicator of capital deployment effectiveness
- Operating cash flow consistency and working capital management
ASYS Financial Metrics
ASYS Profitability Ratios
ASYS Balance Sheet & Liquidity
ASYS 5-Year Financial Trend
5-Year Trend Summary: AMTECH SYSTEMS INC's revenue has grown significantly by 19% over the 5-year period, indicating strong business expansion. The most recent EPS of $-0.60 indicates the company is currently unprofitable.
ASYS Growth Metrics (YoY)
ASYS Quarterly Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q1 2026 | $19.0M | $108.0K | $0.01 |
| Q3 2025 | $19.6M | $106.0K | $0.01 |
| Q2 2025 | $15.6M | $970.0K | $0.07 |
| Q1 2025 | $24.4M | $312.0K | $0.02 |
| Q3 2024 | $26.7M | $438.0K | $0.03 |
| Q2 2024 | $25.4M | $460.0K | $0.03 |
| Q1 2024 | $21.6M | -$2.7M | $-0.20 |
| Q3 2023 | $20.0M | -$567.0K | $-0.04 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
ASYS Capital Allocation
ASYS SEC Filings
Access official SEC EDGAR filings for AMTECH SYSTEMS INC (CIK: 0000720500)