Camtek Financials

CAMT

Source SEC Filings (10-K/10-Q) Updated Jun 30, 2025 Currency USD FYE December

This page shows Camtek (CAMT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 96/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

100

Camtek has an operating margin of 25.2%, meaning the company retains $25 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is up from 20.7% the prior year.

Growth

100

Camtek's revenue surged 36.1% year-over-year to $429.2M, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

Camtek carries a low D/E ratio of 0.62, meaning only $0.62 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 88/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

100

With a current ratio of 5.00, Camtek holds $5.00 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Cash Flow

100

Camtek converts 26.1% of revenue into free cash flow ($112.1M). This strong cash generation earns a score of 100/100.

Returns

Camtek earns a strong 21.6% return on equity (ROE), meaning it generates $22 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 86/100. This is up from 16.5% the prior year.

Altman Z-Score Safe

14.35

Camtek scores 14.35, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($7.0B) relative to total liabilities ($342.8M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Neutral

6/9

Camtek passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Cash-Backed

1.03x

For every $1 of reported earnings, Camtek generates $1.03 in operating cash flow ($122.2M OCF vs $118.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

Export CSV

Revenue

$429.2M

YoY+36.1%

5Y CAGR+26.2%

10Y CAGR+17.1%

Camtek generated $429.2M in revenue in fiscal year 2025. This represents an increase of 36.1% from the prior year.

EBITDA

$118.7M

YoY+66.8%

5Y CAGR+37.6%

10Y CAGR+32.2%

Camtek's EBITDA was $118.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 66.8% from the prior year.

Free Cash Flow

$112.1M

YoY+57.4%

5Y CAGR+36.8%

10Y CAGR+35.5%

Camtek generated $112.1M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 57.4% from the prior year.

Net Income

$118.5M

YoY+50.7%

5Y CAGR+40.1%

10Y CAGR+42.9%

Camtek reported $118.5M in net income in fiscal year 2025. This represents an increase of 50.7% from the prior year.

EPS (Diluted)

$2.42

YoY+48.5%

5Y CAGR+33.5%

10Y CAGR+36.2%

Camtek earned $2.42 per diluted share (EPS) in fiscal year 2025. This represents an increase of 48.5% from the prior year.

Cash & Debt

$126.2M

YoY+5.2%

5Y CAGR+27.1%

10Y CAGR+21.4%

Camtek held $126.2M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

45M

YoY+1.2%

5Y CAGR+3.3%

10Y CAGR+4.1%

Camtek had 45M shares outstanding in fiscal year 2025. This represents an increase of 1.2% from the prior year.

Gross Margin

48.9%

YoY+2.1pp

5Y CAGR+0.6pp

10Y CAGR+2.5pp

Camtek's gross margin was 48.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 2.1 percentage points from the prior year.

Operating Margin

25.2%

YoY+4.4pp

5Y CAGR+8.8pp

10Y CAGR+19.4pp

Camtek's operating margin was 25.2% in fiscal year 2025, reflecting core business profitability. This is up 4.4 percentage points from the prior year.

Net Margin

27.6%

YoY+2.7pp

5Y CAGR+11.2pp

10Y CAGR+23.8pp

Camtek's net profit margin was 27.6% in fiscal year 2025, showing the share of revenue converted to profit. This is up 2.7 percentage points from the prior year.

Return on Equity

21.6%

YoY+5.1pp

5Y CAGR+5.4pp

10Y CAGR+16.5pp

Camtek's ROE was 21.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 5.1 percentage points from the prior year.

R&D Spending

$38.3M

YoY+21.7%

5Y CAGR+18.6%

10Y CAGR+10.3%

Camtek invested $38.3M in research and development in fiscal year 2025. This represents an increase of 21.7% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$10.1M

YoY+24.8%

5Y CAGR+51.7%

10Y CAGR+33.5%

Camtek invested $10.1M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 24.8% from the prior year.

CAMT Income Statement

Metric	FY25	FY23	FY22	FY21	FY20	FY19
Revenue	$429.2M+36.1%	$315.4M-1.7%	$320.9M+19.0%	$269.7M+73.0%	$155.9M+16.3%	$134.0M
Cost of Revenue	$219.3M+30.7%	$167.7M+4.2%	$161.1M+21.7%	$132.3M+60.1%	$82.6M+19.3%	$69.2M
Gross Profit	$210.0M+42.2%	$147.6M-7.6%	$159.9M+16.4%	$137.3M+87.5%	$73.2M+13.0%	$64.8M
R&D Expenses	$38.3M+21.7%	$31.5M+9.0%	$28.9M+22.9%	$23.5M+19.9%	$19.6M+19.9%	$16.3M
SG&A Expenses	$63.6M+25.3%	$50.8M+2.5%	$49.5M+15.2%	$43.0M+38.5%	$31.0M+17.2%	$26.5M
Operating Income	$108.1M+65.2%	$65.4M-19.7%	$81.5M+15.0%	$70.9M+213.4%	$22.6M+3.0%	$22.0M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$12.7M+41.4%	$9.0M+9.2%	$8.2M-29.3%	$11.7M+618.8%	$1.6M-16.9%	$1.9M
Net Income	$118.5M+50.7%	$78.6M-1.6%	$79.9M+32.6%	$60.3M+176.8%	$21.8M-0.9%	$22.0M
EPS (Diluted)	$2.42+48.5%	$1.63-3.0%	$1.68+25.4%	$1.34+148.1%	$0.54-5.3%	$0.57

Metric	Q2'25	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21	Q2'21
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$67.5M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$32.5M
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$35.0M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$5.8M
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$12.2M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$17.0M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$1.6M
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$15.7M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0.35

CAMT Balance Sheet

Metric	FY25	FY23	FY22	FY21	FY20	FY19
Total Assets	$892.0M+13.3%	$787.7M+16.3%	$677.1M+16.0%	$583.8M+102.8%	$287.9M+69.0%	$170.4M
Current Assets	$620.1M+13.4%	$546.8M-1.8%	$557.0M+7.1%	$520.2M+98.6%	$261.9M+77.3%	$147.7M
Cash & Equivalents	$126.2M+5.2%	$120.0M-19.0%	$148.2M-38.8%	$241.9M+128.6%	$105.8M+178.1%	$38.0M
Inventory	$111.2M+29.4%	$85.9M+31.1%	$65.5M+11.5%	$58.8M+47.9%	$39.7M+66.9%	$23.8M
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$74.3M0.0%	$74.3M	$0	N/A	N/A	N/A
Total Liabilities	$342.8M+10.0%	$311.5M+6.3%	$293.0M+1.0%	$290.1M+378.4%	$60.6M+78.0%	$34.1M
Current Liabilities	$123.9M+28.2%	$96.7M+9.2%	$88.5M-1.3%	$89.7M+56.3%	$57.4M+81.6%	$31.6M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$549.2M+15.3%	$476.1M+24.0%	$384.1M+30.8%	$293.6M+29.2%	$227.3M+66.7%	$136.3M
Retained Earnings	$335.8M+21.1%	$277.4M+39.6%	$198.7M+67.3%	$118.8M+103.0%	$58.5M+59.3%	$36.7M

Metric	Q2'25	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21	Q2'21
Total Assets	$974.7M+22.4%	$796.2M+1.1%	$787.7M+11.0%	$709.7M+4.8%	$677.1M+8.3%	$625.2M+7.1%	$583.8M+69.6%	$344.1M
Current Assets	$702.9M+25.4%	$560.5M+2.5%	$546.8M-6.8%	$586.5M+5.3%	$557.0M+2.8%	$541.7M+4.1%	$520.2M+68.7%	$308.4M
Cash & Equivalents	$192.0M+122.8%	$86.2M-28.1%	$120.0M-48.5%	$232.8M+57.1%	$148.2M+164.4%	$56.0M-76.8%	$241.9M+201.2%	$80.3M
Inventory	$133.7M+34.8%	$99.2M+15.5%	$85.9M+40.4%	$61.2M-6.6%	$65.5M-6.5%	$70.1M+19.3%	$58.8M+8.1%	$54.3M
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$74.3M0.0%	$74.3M0.0%	$74.3M	N/A	$0	N/A	N/A	N/A
Total Liabilities	$348.3M+8.6%	$320.7M+3.0%	$311.5M+10.0%	$283.2M-3.3%	$293.0M+1.6%	$288.4M-0.6%	$290.1M+241.4%	$85.0M
Current Liabilities	$130.0M+20.9%	$107.5M+11.2%	$96.7M+25.9%	$76.8M-13.3%	$88.5M+2.6%	$86.3M-3.8%	$89.7M+10.3%	$81.3M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$626.5M+31.8%	$475.4M-0.2%	$476.1M+11.7%	$426.4M+11.0%	$384.1M+14.1%	$336.8M+14.7%	$293.6M+13.3%	$259.2M
Retained Earnings	$403.8M+49.5%	$270.1M-2.6%	$277.4M+18.3%	$234.5M+18.0%	$198.7M+27.1%	$156.3M+31.6%	$118.8M+35.7%	$87.5M

CAMT Cash Flow Statement

Metric	FY25	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$122.2M+54.1%	$79.3M+37.2%	$57.8M-5.2%	$61.0M+136.7%	$25.8M+4.6%	$24.6M
Capital Expenditures	$10.1M+24.8%	$8.1M-1.2%	$8.2M+101.6%	$4.1M+68.7%	$2.4M+91.9%	$1.3M
Free Cash Flow	$112.1M+57.4%	$71.2M+43.6%	$49.6M-12.8%	$56.9M+143.7%	$23.3M-0.1%	$23.4M
Investing Cash Flow	-$55.9M+48.0%	-$107.5M+28.7%	-$150.8M-25.5%	-$120.2M-419.7%	-$23.1M+55.2%	-$51.6M
Financing Cash Flow	-$60.0M-33091.8%	$182K+5966.7%	$3K-100.0%	$194.8M+200.1%	$64.9M+548.1%	$10.0M
Dividends Paid	$60.0M	N/A	N/A	N/A	N/A	$6.6M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'25	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21	Q2'21
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$19.9M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$802K
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$19.1M
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$5.2M
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$45K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

CAMT Financial Ratios

Metric	FY25	FY23	FY22	FY21	FY20	FY19
Gross Margin	48.9%+2.1pp	46.8%-3.0pp	49.8%-1.1pp	50.9%+3.9pp	47.0%-1.4pp	48.3%
Operating Margin	25.2%+4.4pp	20.7%-4.7pp	25.4%-0.9pp	26.3%+11.8pp	14.5%-1.9pp	16.4%
Net Margin	27.6%+2.7pp	24.9%+0.0pp	24.9%+2.6pp	22.4%+8.4pp	14.0%-2.4pp	16.4%
Return on Equity	21.6%+5.1pp	16.5%-4.3pp	20.8%+0.3pp	20.5%+11.0pp	9.6%-6.6pp	16.1%
Return on Assets	13.3%+3.3pp	10.0%-1.8pp	11.8%+1.5pp	10.3%+2.8pp	7.6%-5.3pp	12.9%
Current Ratio	5.00-0.7	5.66-0.6	6.29+0.5	5.80+1.2	4.56-0.1	4.67
Debt-to-Equity	0.62-0.0	0.65-0.1	0.76-0.2	0.99+0.7	0.27+0.0	0.25
FCF Margin	26.1%+3.5pp	22.6%+7.1pp	15.5%-5.6pp	21.1%+6.1pp	15.0%-2.5pp	17.4%

Metric	Q2'25	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22	Q4'21	Q2'21
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	51.9%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	25.3%
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	23.2%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	6.0%
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	4.5%
Current Ratio	5.41+0.2	5.21-0.4	5.66-2.0	7.64+1.3	6.29+0.0	6.28+0.5	5.80+2.0	3.79
Debt-to-Equity	0.56-0.1	0.67+0.0	0.65-0.0	0.66-0.1	0.76-0.1	0.86-0.1	0.99+0.7	0.33
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	28.3%

Similar Companies

Ipg Photonics Corp IPGP

$5.5B

Onto Innovation Inc ONTO

$11.2B

Ambarella Inc AMBA

$2.9B

Axcelis Tech Ord ACLS

$2.5B

Amkor Tech AMKR

$12.0B

Frequently Asked Questions

What is Camtek's annual revenue?

Camtek (CAMT) reported $429.2M in total revenue for fiscal year 2025. This represents a 36.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Camtek's revenue growing?

Camtek (CAMT) revenue grew by 36.1% year-over-year, from $315.4M to $429.2M in fiscal year 2025.

Is Camtek profitable?

Yes, Camtek (CAMT) reported a net income of $118.5M in fiscal year 2025, with a net profit margin of 27.6%.

What is Camtek's earnings per share (EPS)?

Camtek (CAMT) reported diluted earnings per share of $2.42 for fiscal year 2025. This represents a 48.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Camtek's EBITDA?

Camtek (CAMT) had EBITDA of $118.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Camtek's gross margin?

Camtek (CAMT) had a gross margin of 48.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Camtek's operating margin?

Camtek (CAMT) had an operating margin of 25.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Camtek's net profit margin?

Camtek (CAMT) had a net profit margin of 27.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Camtek's return on equity (ROE)?

Camtek (CAMT) has a return on equity of 21.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Camtek's free cash flow?

Camtek (CAMT) generated $112.1M in free cash flow during fiscal year 2025. This represents a 57.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Camtek's operating cash flow?

Camtek (CAMT) generated $122.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Camtek's total assets?

Camtek (CAMT) had $892.0M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Camtek's capital expenditures?

Camtek (CAMT) invested $10.1M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Camtek spend on research and development?

Camtek (CAMT) invested $38.3M in research and development during fiscal year 2025.

How many shares does Camtek have outstanding?

Camtek (CAMT) had 45M shares outstanding as of fiscal year 2025.

What is Camtek's current ratio?

Camtek (CAMT) had a current ratio of 5.00 as of fiscal year 2025, which is generally considered healthy.

What is Camtek's debt-to-equity ratio?

Camtek (CAMT) had a debt-to-equity ratio of 0.62 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Camtek's return on assets (ROA)?

Camtek (CAMT) had a return on assets of 13.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Camtek's Altman Z-Score?

Camtek (CAMT) has an Altman Z-Score of 14.35, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Camtek's Piotroski F-Score?

Camtek (CAMT) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Camtek's earnings high quality?

Camtek (CAMT) has an earnings quality ratio of 1.03x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Camtek?

Camtek (CAMT) scores 96 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.