Camtek Ltd. (CAMT) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.76	$0.78	+2.6%	—	$133.2M	—
Q3 25	$0.8	$0.82	+2.5%	—	$126M	—
Q2 25	$0.79	$0.79	0.0%	—	$123.3M	—
Q1 25	$0.77	$0.79	+2.6%	—	$118.6M	—
Q4 24	$0.75	$0.77	+2.7%	—	$117.3M	—
Q3 24	$0.69	$0.75	+8.7%	—	$112.3M	—
Q2 24	$0.64	$0.66	+3.1%	—	$102.6M	—
Q1 24	$0.57	$0.63	+10.5%	—	$97M	—
Q4 23	$0.53	$0.57	+7.5%	—	$88.7M	—
Q3 23	$0.48	$0.51	+6.3%	—	$80.5M	—
Q2 23	$0.42	$0.45	+7.1%	—	$73.8M	—
Q1 23	$0.41	$0.42	+2.4%	—	$72.5M	—
Q4 22	$0.48	$0.5	+4.2%	—	$82.2M	—
Q3 22	$0.47	$0.48	+2.1%	—	$82M	—
Q2 22	$0.45	$0.46	+2.2%	—	$79.6M	—
Q1 22	$0.43	$0.44	+2.3%	—	$77.2M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$1.11	—	—	$496.1M	—
FY24	—	$2.62	—	—	$429.2M	—
FY23	—	$1.76	—	—	$315.4M	—
FY22	—	$1.81	—	—	$320.9M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$79.2M	$93.5M	$123.2M	$134M	$155.9M	$269.7M	$320.9M	$315.4M	$429.2M	$496.1M
YoY change	+14.2%	+18%	+31.8%	+8.8%	+16.3%	+73%	+19%	-1.72%	+36.1%	+15.6%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	79.2M	93.5M	123.2M	134M	155.9M	269.7M	320.9M	315.4M	429.2M	496.1M
Cost of revenue	41.8M	48M	62.4M	69.2M	82.6M	132.3M	161.1M	167.7M	219.3M	245.8M
Gross profit	37.4M	45.5M	60.8M	64.8M	73.2M	137.3M	159.9M	147.6M	210M	250.3M
Gross margin	47.2%	48.7%	49.4%	48.3%	47%	50.9%	49.8%	46.8%	48.9%	50.5%
Research & development	12.6M	13.5M	14.6M	16.3M	19.6M	23.5M	28.9M	31.5M	38.3M	48.3M
Selling, general & administrative	21.9M	22M	26.2M	26.5M	31M	43M	49.5M	50.8M	63.6M	73.8M
Operating expenses	34.5M	35.6M	40.8M	42.8M	50.6M	66.4M	78.4M	82.2M	101.9M	122.1M
Operating income	2.9M	10M	20M	22M	22.6M	70.9M	81.5M	65.4M	108.1M	128.2M
Operating margin	3.65%	10.7%	16.3%	16.4%	14.5%	26.3%	25.4%	20.7%	25.2%	25.8%
Non-operating income, net	-872K	-13M	—	-352K	-351K	58K	-351K	-78K	37K	-100.9M
Pretax income	1.2M	-3.2M	20.8M	22.8M	23.4M	71.9M	88.2M	87.6M	131.2M	52.3M
Income tax	303K	-4.9M	2M	1.9M	1.6M	11.7M	8.2M	9M	12.7M	1.6M
Net income	4.7M	14M	18.7M	22M	21.8M	60.3M	79.9M	78.6M	118.5M	50.7M
Net margin	5.98%	14.9%	15.2%	16.4%	14%	22.4%	24.9%	24.9%	27.6%	10.2%
EBITDA	4.3M	11.9M	22M	24.1M	26.1M	75.1M	94.2M	95.2M	143M	65.8M
EPS	0.13	0.4	0.52	0.57	0.55	1.38	1.81	1.76	2.62	1.11
Diluted EPS	0.13	0.39	0.51	0.57	0.54	1.34	1.66	1.61	2.42	1.04

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	80.5M	88.7M	97M	102.6M	112.3M	117.3M	118.6M	123.3M	126M	128.1M	121.7M	133.2M
Cost of revenue	41.5M	48.9M	52.3M	51.4M	56.5M	59.2M	58.1M	60.7M	63M	64M	60.7M	66.5M
Gross profit	39M	39.8M	44.7M	51.2M	55.9M	58.1M	60.6M	62.6M	63M	64.1M	60.9M	66.7M
Gross margin	48.5%	44.9%	46.1%	49.9%	49.7%	49.6%	51%	50.8%	50%	50%	50.1%	50.1%
Research & development	7.8M	8M	8.9M	9.2M	9.8M	10.4M	10.4M	11.5M	13.5M	13.1M	14.3M	16.7M
Selling, general & administrative	12.2M	14.5M	14.6M	16.1M	16.4M	16.5M	17.5M	19.2M	17.7M	19.4M	19.3M	22.8M
Operating expenses	19.9M	22.6M	23.5M	25.4M	26.2M	26.8M	27.9M	30.6M	31.2M	32.4M	33.7M	39.5M
Operating income	19.1M	17.2M	21.2M	25.9M	29.6M	31.3M	32.7M	32M	31.8M	31.7M	27.3M	27.2M
Operating margin	23.7%	19.4%	21.9%	25.2%	26.4%	26.7%	27.6%	25.9%	25.3%	24.7%	22.4%	20.4%
Non-operating income, net	—	—	—	—	—	—	—	—	-100.9M	0	—	—
Pretax income	24.7M	22.9M	26.8M	30.9M	36M	37.5M	38.1M	36.9M	-62.6M	39.8M	35.4M	34.2M
Income tax	2.7M	2.1M	2M	2.9M	3.3M	4.5M	3.8M	3.2M	-9.4M	4M	3.8M	10.9M
Net income	22.1M	20.8M	24.8M	28M	32.7M	33M	34.3M	33.7M	-53.2M	35.9M	31.6M	23.3M
Net margin	27.4%	23.4%	25.6%	27.3%	29.1%	28.1%	28.9%	27.3%	-42.2%	28%	26%	17.5%
EBITDA	19.1M	41.2M	21.2M	37.1M	29.6M	55.6M	32.7M	42.9M	31.8M	-42.5M	27.3M	27.2M
EPS	0.49	0.46	0.55	0.62	0.71	0.73	0.75	0.74	-1.16	0.78	0.68	0.5
Diluted EPS	0.46	0.42	0.51	0.57	0.67	0.67	0.7	0.69	-1.16	0.71	0.63	0.46

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	116.3M	202.7M	245M	418.6M	862.9M	—	969.7M	3.1B	3.7B	4.9B	4.9B
Enterprise value	96.6M	159M	190.1M	330.6M	686.5M	—	769.5M	3B	3.5B	4.7B	4.7B
Shares outstanding	35.3M	35.4M	36.2M	38.6M	39.4M	43.6M	44.2M	44.7M	45.3M	45.7M	45.7M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	24.6	14.5	13.1	19	39.6	—	12.1	39.5	30.9	95.8	95.8
P/S	1.47	2.17	1.99	3.12	5.54	—	3.02	9.84	8.52	9.8	9.8
P/B	1.59	2.4	2.42	3.07	3.8	—	2.52	6.52	6.66	7.88	7.88
EV/EBITDA	22.7	13.3	8.64	13.7	26.3	—	8.17	31	24.3	71.8	71.8
EV/Sales	1.22	1.7	1.54	2.47	4.4	—	2.4	9.35	8.1	9.52	9.52
Earnings yield	4.07%	6.89%	7.65%	5.25%	2.52%	—	8.24%	2.53%	3.24%	1.04%	1.04%
FCF yield	-16.2%	-0.78%	5.9%	5.56%	2.68%	—	5.11%	2.29%	3.06%	2.61%	2.61%

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	47.2%	48.7%	49.4%	48.3%	47%	50.9%	49.8%	46.8%	48.9%	50.5%	50.5%
Operating margin	3.65%	10.7%	16.3%	16.4%	14.5%	26.3%	25.4%	20.7%	25.2%	25.8%	25.8%
Net margin	5.98%	14.9%	15.2%	16.4%	14%	22.4%	24.9%	24.9%	27.6%	10.2%	10.2%
ROE	6.45%	16.6%	18.5%	16.1%	9.58%	20.5%	20.8%	16.5%	21.6%	8.22%	8.22%
ROA	4.48%	12.4%	13.2%	12.9%	7.56%	10.3%	11.8%	9.98%	13.3%	4.03%	4.03%
ROIC	4%	24.6%	38.9%	41.5%	41.4%	63.7%	40.2%	18.2%	26.5%	25.9%	25.9%
Return on tangible assets	4.53%	12.5%	13.3%	13%	7.6%	10.3%	11.8%	13%	16.5%	4.65%	4.65%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	2.72	3.28	3.08	4.67	4.56	5.8	6.29	5.66	5	8.35	8.35
Quick ratio	2.19	2.51	2.3	3.92	3.87	5.14	5.55	4.77	4.11	7.31	7.31
Debt / equity	—	—	—	0.01	0.01	0.67	0.52	0.42	0.38	0.86	0.86
Debt / assets	—	—	—	0.01	0	0.34	0.29	0.26	0.23	0.42	0.42
Net debt / EBITDA	—	—	—	-3.65	-6.75	-2.67	-2.12	-1.61	-1.27	-2.09	-2.09
Interest coverage	5.76	-244.2	—	—	152	166	55.9	50.9	121	32.6	32.6
Effective tax rate	25.9%	0%	9.78%	8.56%	6.93%	16.2%	9.34%	10.3%	9.69%	3.08%	3.08%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	2.24	2.64	3.4	3.47	3.96	6.18	7.27	7.05	9.48	10.9	10.9
EPS (basic)	0.13	0.4	0.52	0.57	0.55	1.38	1.81	1.76	2.62	1.11	1.11
EPS (diluted)	0.13	0.39	0.51	0.57	0.54	1.34	1.66	1.61	2.42	1.04	1.04
Book value per share	2.08	2.38	2.8	3.53	5.77	6.73	8.7	10.6	12.1	13.5	13.5
FCF per share	-0.53	-0.04	0.4	0.6	0.59	1.3	1.12	1.59	2.47	2.78	2.78
Cash per share	0.56	1.23	1.52	2.32	4.52	9.12	9.05	7.92	8.57	14.6	14.6
Capex per share	0.04	0.09	0.06	0.03	0.06	0.09	0.19	0.18	0.22	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	1.63%	3.36%	1.76%	0.94%	1.55%	1.51%	2.55%	2.57%	2.35%	—	—
Capex / operating cash flow	-7.87%	24.4%	13.2%	5.08%	9.25%	6.67%	14.2%	10.2%	8.27%	—	—
Payout ratio	0%	35.8%	27%	29.8%	0%	0%	—	—	50.7%	0%	0%
Dividend yield	0%	2.47%	2.07%	1.57%	0%	—	—	—	1.64%	0%	0%

Yield

—

trailing twelve months

Frequency

Annual

Last dividend

$1.33

ex-dividend Apr 3, 2024

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Apr 3, 2024	$1.33
Aug 20, 2019	$0.17
May 15, 2018	$0.14
Nov 21, 2017	$0.14
Jul 26, 2002	$0.01

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$80.5M	$88.7M	$97M	$102.6M	$112.3M	$117.3M	$118.6M	$123.3M	$126M	$128.1M	$121.7M	$133.2M
YoY change	-1.85%	+7.93%	+33.9%	+39.1%	+39.6%	+32.3%	+22.3%	+20.2%	+12.2%	+9.23%	+2.55%	+8.05%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	19.7M	43.7M	54.9M	89.5M	177.8M	397.9M	399.7M	354M	388M	668.2M
Receivables	22.1M	23.2M	31.6M	31.4M	41M	57.8M	80.6M	87.3M	99.5M	90.8M
Inventory	16.6M	21.3M	30.1M	23.8M	39.7M	58.8M	65.5M	85.9M	111.2M	112.2M
Total current assets	85.6M	91.4M	119.3M	147.7M	261.9M	520.2M	557M	546.8M	620.1M	897M
Property, plant & equipment	2.6M	2.2M	3M	4.3M	6M	10.2M	14.7M	21.3M	30.8M	35.6M
Goodwill & intangibles	1M	964K	952K	982K	1.2M	1.2M	1.2M	182.6M	175.4M	168.8M
Total assets	105.6M	113M	141.5M	170.4M	287.9M	583.8M	677.1M	787.7M	892M	1.3B
Accounts payable	10.3M	10.5M	15.5M	11.3M	27.2M	33.5M	31.7M	42.2M	46.6M	33.7M
Short-term debt	—	—	—	826K	736K	1M	1.3M	1.7M	2.5M	2.1M
Total current liabilities	31.5M	27.9M	38.7M	31.6M	57.4M	89.7M	88.5M	96.7M	123.9M	107.4M
Long-term debt	—	—	—	776K	679K	196.6M	198.1M	199.5M	204.6M	528.7M
Total liabilities	32.2M	28.7M	40.1M	34.1M	60.6M	290.1M	293M	311.5M	342.8M	642.8M
Shareholders' equity	73.4M	84.3M	101.4M	136.3M	227.3M	293.6M	384.1M	476.1M	549.2M	617M
Total debt	—	—	—	1.6M	1.4M	197.6M	199.4M	201.2M	207.1M	530.8M
Net debt	—	—	—	-36.4M	-104.4M	-44.4M	51.3M	81.2M	80.8M	352.9M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	389.7M	354M	377.2M	366.1M	399.5M	388M	421.5M	436M	639.5M	668.2M	670.3M	630.4M
Receivables	91.4M	87.3M	86.4M	68.2M	70.7M	99.5M	100.4M	112M	112.5M	90.8M	131.7M	153.9M
Inventory	64.7M	85.9M	92.1M	99.2M	104.9M	111.2M	129.2M	133.7M	126.5M	112.2M	100M	99.8M
Total current assets	562.3M	546.8M	578.9M	560.5M	600.2M	620.1M	674M	702.9M	899.8M	897M	937.5M	924.4M
Property, plant & equipment	—	21.3M	—	22.5M	—	30.8M	—	27M	—	35.6M	66.1M	69.3M
Goodwill & intangibles	652K	182.6M	180.8M	179M	177.2M	175.4M	173.6M	172M	170.2M	168.8M	167.4M	258.8M
Total assets	738.3M	787.7M	816.3M	796.2M	841.4M	892M	934M	974.7M	1.2B	1.3B	1.3B	1.3B
Accounts payable	33.7M	42.2M	38.9M	37.8M	44.2M	46.6M	48.1M	40.9M	33.2M	33.7M	34.3M	48.4M
Short-term debt	—	1.7M	—	1.7M	—	2.5M	—	2.2M	—	2.1M	—	—
Total current liabilities	79.9M	96.7M	158.1M	107.5M	113.6M	123.9M	127.7M	130M	118.7M	107.4M	112.3M	125.3M
Long-term debt	196.6M	199.5M	197.1M	197.4M	197.7M	204.6M	198.2M	198.5M	519.1M	528.7M	487.8M	488.5M
Total liabilities	286.7M	311.5M	372.7M	320.7M	327.6M	342.8M	346.1M	348.3M	653M	642.8M	615.5M	628.9M
Shareholders' equity	451.6M	476.1M	443.6M	475.4M	513.9M	549.2M	587.9M	626.5M	578M	617M	682.5M	710.2M
Total debt	196.6M	201.2M	197.1M	199.1M	197.7M	207.1M	198.2M	200.7M	519.1M	530.8M	487.8M	488.5M
Net debt	29M	81.2M	74.1M	112.9M	98.4M	80.8M	-31.6M	8.7M	319.4M	352.9M	288.2M	273.3M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	4.7M	14M	18.7M	22M	21.8M	60.3M	79.9M	78.6M	118.5M	50.7M
Depreciation & amortization	2M	2.1M	2M	2.1M	2.2M	2.8M	4.1M	5.8M	10.7M	11.8M
Stock-based compensation	429K	634K	1.7M	2.9M	4.2M	5.8M	10.5M	12.6M	14.5M	16.9M
Change in working capital	-18.7M	-3.8M	-7.6M	-2.7M	-2.7M	-8.3M	-37.1M	-17.6M	-21M	-24.1M
Operating cash flow	-16.4M	12.9M	16.5M	24.7M	26.1M	61M	57.8M	79.2M	122.2M	141.9M
Capital expenditure	-1.3M	-3.1M	-2.2M	-1.3M	-2.4M	-4.1M	-8.2M	-8.1M	-10.1M	—
Investing cash flow	6.6M	-3.1M	-2.2M	-52.8M	-22.9M	-120.1M	-150.7M	-107.3M	-55.7M	-295.5M
Dividends paid	0	-5M	-5.1M	-6.6M	0	0	—	—	-60M	0
Share repurchases	—	—	—	—	—	—	—	—	—	—
Financing cash flow	-4K	-5M	-5.1M	9.5M	64.3M	194.5M	0	0	-60.1M	219M
Net change in cash	-9.8M	4.7M	9.2M	-18.6M	67.4M	135.4M	-92.9M	-28.1M	6.5M	65.3M
Free cash flow	-18.8M	-1.6M	14.5M	23.3M	23.1M	56.8M	49.5M	71.1M	111.9M	127.1M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q2 16	Q2 17	Q2 18	Q2 19	Q3 19	Q4 19	Q2 20	Q3 20	Q4 20	Q2 21	Q3 21	Q4 21
Net income	1.3M	-3.9M	4.3M	7.2M	4.2M	4.6M	5.3M	6M	7.7M	15.7M	18.5M	12.8M
Depreciation & amortization	460K	520K	471K	498K	526K	557K	531K	568K	609K	648K	704K	829K
Stock-based compensation	122K	114K	249K	605K	818K	824K	951K	1.3M	1.2M	1.5M	1.5M	1.6M
Change in working capital	-5.2M	11.4M	-6.6M	-260K	-1.1M	-126K	4M	-3.4M	-850K	2.1M	-4.2M	7M
Operating cash flow	-3.1M	2.7M	-1M	7.1M	4.7M	6.3M	11.1M	5M	8.3M	19.9M	16.5M	21.7M
Capital expenditure	-283K	-974K	-760K	-196K	-426K	-176K	-365K	-615K	-1M	-802K	-1.2M	-1.6M
Investing cash flow	-283K	-974K	-760K	-196K	-24.4M	-27.7M	-27.9M	-11.6M	7M	5.2M	20.8M	-92.6M
Dividends paid	—	0	-5.1M	0	-6.6M	0	0	0	0	—	—	—
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	—	0	-5.1M	16M	-6.6M	-27K	0	0	64.3M	1K	0	0
Net change in cash	-3.4M	1.7M	-6.8M	23M	-26.3M	-21.4M	-16.7M	-6.6M	79.6M	25.1M	37.3M	-70.8M
Free cash flow	-1.9M	2.8M	-1.8M	6.8M	4.3M	6.3M	10.6M	4.3M	7.3M	19.1M	15.2M	20.2M

Camtek Ltd. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement