AMTECH SYSTEMS INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data AMTECH SYSTEMS INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	120	165	100	85	65.5	85.2	106	113	101	79.4
Cost of revenue	86.2	52	63.1	51.7	41	50.7	66.8	73.1	64.1	52.4
Gross profit	34.1	31.1	36.9	33.4	24.4	34.5	39.5	35.6	36.2	27
Research and development	9.54	3.04	2.87	3.11	3.69	5.98	6.39
Selling, general and administrative	34	24.7	25.7	24.3	21.4	24.7	28.3	42	33.8	29
Operating income	-7.91	3.64	6.07	4.92	-0.49	3.73	17.3	-15	-6.73	-28.5
Interest expense						0.24	0.16	0.52	0.56	0.03
Interest income						0.05	0.21	0.37	0.06	0.24
Other non-operating income	-0.42	0.38	0.74	0.85	0.16	0.28	0.39	0.03	0.06	0.08
Pre-tax income	-5.45	3.6	9.93	5.77	-3.12	3.43	18.8	-15.2	-7.51	-28
Income tax	3.1	1.41	3.3	2.63	0.79	1.93	1.42	-2.6	0.98	2.33
Net income to minority interests	-1.54	-1.05	0
Net income	-7.01	9.13	5.31	-5.16	-15.7	1.51	17.4	-12.6	-8.49	-30.3
EBITDA	-4.93	6.13	7.93	6.61	0.77	5.12	19	-9.96	-3.7	-25.7
EPS, basic	-0.53	0.68	0.36	-0.36	-1.11	0.11	1.24	-0.89	-0.60	-2.12
EPS, diluted	-0.53	0.68	0.35	-0.36	-1.11	0.11	1.22	-0.89	-0.60	-2.12
Shares, basic (weighted)	13.2	13.4	14.8	14.2	14.2	14.2	14	14.1	14.2	14.3
Shares, diluted (weighted)	13.2	13.5	15.1	14.3	14.2	14.3	14.2	14.1	14.2	14.3

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	27.7	51.1	45.9	53	45.1	32.8	46.9	13.1	11.1	17.9
Receivables	17.6	22.5	18	12.9	11.2	22.5	25	26.5	22	19.9
Inventory	23.2	30.2	17.8	17.5	17.3	22.1	25.5	34.8	26.9	18.7
Other current assets	2.66	2.54	2.88	1.99	1.62	2.41	5.56	6.11	4.3	3.57
Total current assets	82.9	157	130	108	76.6	80.9	103	81.2	64.7	60.2
Property, plant and equipment	16	15.8	10.5	10.2	12	14.1	6.55	9.7	11.6	10.2
Lease right-of-use assets					5.12	8.65	11.3	11.2	16.6	18.3
Goodwill	11.1	11.4	6.63	6.63	6.63	11.2	11.2	27.6	21.3	0.91
Intangible assets	4.1	3.5	1.13	0.87	0.61	0.86	0.76	6.11	4	1.09
Other non-current assets	1.1	1	0.9	0.49	0.6	0.66	0.78	1.07	0.88	1.15
Total assets	118	192	149	126	102	117	134	137	119	92.9
Accounts payable	15.4	21.6	6.87	4.37	2.68	8.23	7.3	10.8	5.36	7.74
Accrued liabilities	2.16	2.06	0.67	1.27	0.63	0.9	0.9	1.55	0.48	0.73
Deferred revenue			1.52	1.4	1.2	1.6	7.23	8.02	8.97	6.46
Short-term debt	1.13	0.36	0.35	0.37	0.38	0.4	0.11	2.27	0.1	0.13
Total current liabilities	38.1	86	47.6	30.6	7.48	15.1	22.6	29.7	20.2	20.5
Long-term debt	9.1	8.13	5.54	5.18	4.8	4.4	0.22	8.42	0.19	0.17
Lease liabilities					5.05	8.28	9.4	8.89	15.2	17.3
Other non-current liabilities						0.1	0.08	0.05	0.06	0.86
Total liabilities	53.1	101	56.3	39	20.6	31.3	35.2	48.7	37	39.5
Total debt	10.2	8.5	8.33	5.55	5.18	4.8	0.18	10.7	0.29	0.29
Paid-in capital	112	126	124	125	124	126	124	127	128	130
Retained earnings	-35.8	-26.7	-21.4	-26.6	-42.4	-40.9	-24.5	-37	-45.5	-75.9
Other comprehensive income	-8.88	-8.53	-9.97	-11.2	-0.65	0.01	-1.77	-1.7	-0.72	-0.96
Shareholders' equity	67.1	90.5	93.1	87.5	81.5	85.6	98.4	88.4	82.4	53.4
Minority interests	-1.72	0
Total equity	65.3	90.5	93.1	87.5	81.5	85.6	98.4	88.4	82.4	53.4
Total liabilities and equity	118	192	149	126	102	117	134	137	119	92.9
Shares outstanding	14.7	14.7	14.2	14.3	14.1	14.3	14	14.2	14.3	14.4

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-8.55	8.09	5.31	-5.16	-15.7	1.51	17.4	-12.6	-8.49	-30.3
Depreciation and amortization	2.97	2.49	1.85	1.69	1.26	1.4	1.73	5.01	3.03	2.74
Stock-based compensation	1.39	1.33	0.86	0.57	0.33	0.4	0.54	1.27	1.53	1.23
Deferred income tax	1.68	0	0	0	-0.57	-0.07	0.38	-2.51	-0.08	-0.85
Change in receivables	-5	-8.66	3.27	0.3	1.36	-11	-2.48	4.41	4.47	2.08
Change in inventory	0.49	-6.64	3.97	-0.44	-0.91	-5.18	-3.68	-6.29	5.14	1.68
Change in payables	-0.22	5.37	-10.2	-1.79	-3.62	5.47	-1.08	1.46	-4.94	2.24
Cash from operations	-9.69	34.1	-13.8	0.17	-1.66	-5.96	5.2	-7.7	9.84	7.88
Capital expenditures	-0.98	-1.26	-1.5	-0.71	-2.68	-3.01	-1.14	-2.9	-4.88	-0.95
Acquisitions	0	0				-5.08		-34.9
Cash from investing	11.2	-1.22	4.35	-1.83	-12.6	-8.09	18.8	-37.8	-2.18	-0.91
Debt issued	1.15	0.76	0	0.01				12	0.06
Debt repaid	-0.74	-0.67	-0.37	-0.38	-0.38	-0.38	-4.87	-1.5	-10.7	-0.09
Stock issued	0.05	12.6	1.89	0.21	0.88	1.55	0.72	1.24	0.09	0.36
Share buybacks	0	0	-4		-2		-4.12
Cash from financing	0.46	12.7	-2.48	-0.16	-1.5	1.17	-8.27	11.7	-10.6	0.27
Exchange rate effect	-0.14	1.68	-1.37	-1.55	1.72	0.66	-1.67	0.05	0.92	-0.42
Net change in cash	1.8	47.2	-13.3	-3.36	-14.1	-12.2	14	-33.7	-2.05	6.82
Free cash flow	-10.7	32.8	-15.3	-0.54	-4.34	-8.97	4.07	-10.6	4.96	6.93
Interest paid	0.31	0.27	0.3	0.26	0.27	0.24	0.16	0.46	0.56	0.03
Income taxes paid	-0.12	0.15	-0.98	0.99	2.12	1.87	0.39	2.82	0.62	1.47

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $15.78 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	46.9%	Gross profit / revenue.
Operating margin	8.1%	Operating income / revenue.
EBITDA margin	11.1%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	8.0%	Pre-tax income / revenue.
Net margin	4.9%	Net income / revenue.
FCF margin	10.7%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	11.7%	Cash from operations / revenue.
Effective tax rate	38.6%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	3.5%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	2.6%	Net income / average total assets.
Return on invested capital (ROIC)	12.5%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	34.8%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	1.5%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.0%	Capital expenditures / revenue.
D&A / revenue	3.0%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-21.6%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-9.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	3.9%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-25.5%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-11.9%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	2.0%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-20.0%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	14.8%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow growth, 1y	39.5%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	19.4%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	-35.2%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-18.4%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-8.1%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-22.2%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-11.4%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-1.9%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.7%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	0.3%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	0.2%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	5.41x	Current assets / current liabilities.
Quick ratio	4.36x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	3.52x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	26.2%	Total liabilities / total assets.
Interest coverage	265x	Operating income / interest expense.
Working capital	$104.0M	Current assets - current liabilities.
Goodwill and intangibles / assets	1.2%	(Goodwill + intangible assets) / total assets.
Tangible book value	$113.7M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.52x	Revenue / average total assets.
Fixed asset turnover	9.31x	Revenue / average property, plant and equipment.
Inventory turnover	2.12x	Cost of revenue / average inventory.
Days inventory	172 days	365 x average inventory / cost of revenue.
Receivables turnover	4.14x	Revenue / average receivables.
Days sales outstanding	88 days	365 x average receivables / revenue.
Days payables	87 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	173 days	Days inventory + days sales outstanding - days payables.
FCF conversion	218.4%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	8.8%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.25	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$5.09	Revenue / diluted weighted shares.
FCF per share	$0.54	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.60	Cash from operations / diluted weighted shares.
Book value per share	$6.60	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$6.50	Tangible book value / shares outstanding.
Cash per share	$4.75	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$276.3M	Share price x shares outstanding.
Enterprise value	$193.2M	Market cap + total debt - cash - short-term investments.
P/E	69.1x	Market cap / net income. Only when net income is positive.
P/S	3.38x	Market cap / revenue.
P/B	2.39x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	2.43x	Market cap / tangible book value, when positive.
P/FCF	31.6x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	28.8x	Market cap / cash from operations, when positive.
EV/Sales	2.37x	Enterprise value / revenue.
EV/EBIT	29.2x	Enterprise value / operating income, when both are positive.
EV/EBITDA	21.3x	Enterprise value / EBITDA, when both are positive.
EV/FCF	22.1x	Enterprise value / free cash flow, when both are positive.
FCF yield	3.2%	Free cash flow / market cap.
Earnings yield	1.4%	Net income / market cap (the inverse of P/E).

What was AMTECH SYSTEMS INC's revenue in fiscal 2025?

AMTECH SYSTEMS INC reported revenue of $79.4M for fiscal 2025, 21.6% lower than the year before.

Was AMTECH SYSTEMS INC profitable in fiscal 2025?

No. It reported a net loss of $30.3M.

How much free cash flow did AMTECH SYSTEMS INC generate in fiscal 2025?

Cash from operations of $7.9M minus capital expenditures of $950.0K left free cash flow of $6.9M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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