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Amtech Systems, Inc (ASYS) Fair Value & Analysis

Technology · US · Market cap $374M

AS Amtech Systems, Inc logo Amtech Systems, Inc ASYS · US
Price$15.53
Fair Value$5.06
Upside-67.4%
Quality58/100
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Mixed Growth
Thin margins · 3.1% net margin
Low debt · generates free cash flow
Trails peers (4/14)
Narrow moat 33/100
Evidence: Medium Range $3.51 – $6.60 Share as image

Fair value as of: Jul 14, 2026

From 9 valuation models · updated 27 days ago

Fair value updated Jul 14, 2026, revised from $9.16 to $5.06 (−44.8%) since Jun 24, 2026. Share price −12.2% over the past month.

A solid business, but screening 67% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case ($6.60). The favourable scenario is already priced in.
  • Solid but not exceptional quality (58/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range ($3.51 to $6.60) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

$23.99 $3.35 Fair Value $5.06 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 14, 2026.

How to read this chart

60‑month range $3.35 – $23.99 · fair‑value band $3.51 – $6.60 · the $15.53 price screens above the $5.06 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 14, 2026.

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Analysis

Amtech Systems, Inc (ASYS) currently trades at $15.53, while our model-based Fair Value estimate is $5.06, implying the stock looks roughly 67.4% overvalued today. The Quality Score stands at 58/100 (solid quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Amtech Systems, Inc generated revenue of $78.8M at a net margin of 3.1%. Revenue grew 31.4% year over year. It earns a return on equity of 4.6%. Net debt stands at $1.6M. Fundamentals as of Jul 14, 2026

Our scenario range runs from $3.51 (bear case) to $6.60 (bull case); at $15.53, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 40% below its 52-week high and 295% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -75% fair-value upside, at -67%, ASYS screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF $4.57 $6.79 $9.90 80
Rev-Margin DCF $4.25 $6.68 $9.73 74
Gordon GGM $1.84 $3.32 $4.58 70
All 9 models by family
DCF Models
FCF DCF $4.61 $7.09 $10.76 38
5Y Revenue Exit $4.25 $6.71 $9.95 39
10Y Revenue Exit $4.24 $6.46 $9.70 36
Dividend Discount
Gordon GGM $1.84 $3.32 $4.58 70
DDM Multi-Stage $1.84 $3.04 $3.55 61
Multiples
EV/Revenue $4.15 $5.69 $7.24 43
Asset-Based
NCAV (Graham) $1.53 $2.05 $3.05 50
Growth DCF
Growth DCF $4.57 $6.79 $9.90 80
Rev-Margin DCF $4.25 $6.68 $9.73 74

Widest divergence: DCF Models ($6.71) versus Asset-Based ($2.05). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) $78.8M
Revenue growth (YoY) +31.4%
Net margin 3.1%
Return on equity 4.6%
Free cash flow $6.9M FY2025
P/E ratio 118.8
More key figures
Operating margin 8.8%
EPS (TTM) $0.1800
EPS growth (YoY) -62.4%
Net debt $1.6M FY2025

Figures from reported company fundamentals · as of Jul 14, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 58/100

Of which business quality 58 · Market factors (momentum, volatility) 45

Profitability 23
Margins and returns on capital today
Quality Growth 17
Are margins and returns improving?
Cashflow 59
Earnings quality: real cash, not paper profit
Fin. Strength 85
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 55
Price trend over the last 3–12 months (market factor)
52W Momentum 77
Distance to the 52-week high (market factor)
Net Issuance 77
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Amtech Systems, Inc., together with its subsidiaries, manufactures and sells capital equipment and related consumables for use in fabricating and packaging semiconductor devices in the United States, Canada, Mexico, China, Malaysia, Taiwan, Singapore, the Czech Republic, Austria, Hungary, the United Kingdom, Germany, and internationally.

Full company description

Amtech Systems, Inc., together with its subsidiaries, manufactures and sells capital equipment and related consumables for use in fabricating and packaging semiconductor devices in the United States, Canada, Mexico, China, Malaysia, Taiwan, Singapore, the Czech Republic, Austria, Hungary, the United Kingdom, Germany, and internationally. It operates through Thermal Processing Solutions and Semiconductor Fabrication Solutions segments. The company offers thermal processing equipment for use in solder reflow operations for advanced semiconductor packaging and electronics assembly; belt furnaces for producing power semiconductor packaging substrates and electronic components; and horizontal diffusion furnaces for use in wafer processing. It also provides double-sided wafer cleaning systems, entegrity head testers, substrate carriers, substrate polishing templates, substrate process chemicals, wafer processing lubricants, and coolants under the Entrepix, PR Hoffman, and Intersurface Dynamics brands. In addition, the company offers, and entegrity head tester, and CMP parts and service. The company sells its products to semiconductor substrate, device, and electronic assembly manufacturers, as well as ceramics and optics industries through sales personnel and a network of independent sales representatives and distributors. Amtech Systems, Inc. was incorporated in 1981 and is headquartered in Tempe, Arizona.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Amtech Systems, Inc reported revenue of $79.4M in FY2025 versus $85.2M in FY2021, a compound −1.8%/yr. Reported net income was −$30.3M in FY2025.

Growth Quality 51/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
$79.4M
Latest YoY
−21.6%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−9.3%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+3.9%
Avg. growth/yr (38Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+8.5%
Revenue −1.8%/yr
FY21 $85.2M
FY22 $106M
FY23 $113M
FY24 $101M
FY25 $79.4M
Net income
FY21 $1.5M
FY22 $17.4M
FY23 −$12.6M
FY24 −$8.5M
FY25 −$30.3M

ASYS screens 67% overvalued. Compare with ASML Holding →

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Cite: Fair Value Calculator (2026). "Amtech Systems, Inc Fair Value". https://www.fairvalue-calculator.com/stock/ASYS

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Semiconductor Equipment & Materials · 212 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 58 · Above median
Fair Value upside −67% · Below median
Return on equity (TTM) 5% · Below median
Return on assets 4% · Above median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 9% · Below median
Revenue growth 31% · Top 25%
Debt / equity 0.16× · Higher than median

Valuation Multiples vs Semiconductor Equipment & Materials median · lower = cheaper

P/E (TTM) 118.8× · Pricier than 75% of peers
P/B 7.00× · Pricier than median
P/S (TTM) 4.74× · Pricier than median
P/FCF 54.0× · Pricier than 75% of peers
EV/EBITDA 44.5× · Pricier than median
PEG 0.37× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 0
FUTURE 100 · sector 58
PAST 18 · sector 30
HEALTH 92 · sector 96
DIVIDEND 0 · sector 16

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Semiconductor Equipment & Materials stocks, each showing price versus our Fair Value estimate (as of Jul 14, 2026).

Stock Price Fair Value vs Fair Value
ASML Holding ASML C$50.50 C$15.57 -69%
Applied Materials, Inc AMAT $579.43 $143.08 -75%
Lam Research Corporation LRCX $346.10 $67.57 -80%
KLA Corporation KLAC $212.75 $53.01 -75%
NAURA Technology Group 002371 ¥774.20 ¥151.43 -80%
Advanced Micro-Fabrication Equipment Inc 688012 ¥350.69 ¥41.79 -88%
Piotech Inc 688072 ¥832.00 ¥431.44 -48%
Hon. Precision, Inc 7769 6,005 TWD 1,804 TWD -70%
Hangzhou Changchuan Technology Co 300604 ¥325.24 ¥33.33 -90%
MPI Corporation 6223 5,600 TWD 609.44 TWD -89%

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Frequently asked questions

Is Amtech Systems, Inc (ASYS) overvalued or undervalued?
As of Jul 14, 2026, our model estimates a fair value of $5.06 versus a price of $15.53, about −67% (overvalued).
What is the fair value of ASYS?
Our model-based fair value for Amtech Systems, Inc is $5.06 (as of Jul 14, 2026), built from audited fundamentals. The current price is $15.53.
What is the quality score of ASYS?
Amtech Systems, Inc has a Quality Score of 58/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Amtech Systems, Inc (ASYS)?
Amtech Systems, Inc reported trailing-twelve-month revenue of about $78.8M (latest available figure, as of Jul 14, 2026).
What is the net profit margin of ASYS?
The net profit margin of Amtech Systems, Inc is about 3.1%, meaning it keeps roughly 3.1% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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