CAMTCamtek Ltd.
Is the business good?
The checks split: nothing decisive, though earnings fully cash-backed (1.0×).
Operating profit is fully backed by cash. Conversion is improving vs a year ago.
Margins have held roughly steady, a stable cost structure.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is CAMT?
Camtek Ltd. earns 18% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
Return on invested capital · cost of capital 9.0% · 8.6 points above what the capital costs: growth creates value
- Operating margin
- 21%
Operating margin · Semiconductor Equipment & Materials median 11% · 12 months to Q2 2021
- Cash conversion
- 0.97×
Cash conversion · 0.81× a year ago · operating cash flow covers the operating profit after tax
- Share count, year on year
- +19%
Share count, year on year · shareholders own a smaller slice than a year ago
| Year | Operating margin |
|---|---|
| FY2020 | 15% |
| FY2021 | 26% |
| FY2022 | 25% |
| FY2023 | 21% |
| FY2024 | 25% |
| FY2025 | 26% |
Details›
- Gross margin12 months to Q2 2021
- 49%
- Operating margin12 months to Q2 2021
- 21%
- Net margin12 months to Q2 2021
- 19%
- Free cash flow margin
- 17%
- R&D as % of revenue
- 10%
- Revenue, trailing twelve months
- $192M
- Free cash flow, trailing twelve months
- $33M
- Net income, trailing twelve months
- $37M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 18%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Semiconductor Equipment & Materials
Ranks #5 of 18 by RyuScore