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

Camtek (CAMT) reported diluted earnings per share of $1.04 for fiscal year 2025. This represents a -57.0% 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.

Camtek Financials

CAMT

Source SEC Filings (10-K/10-Q) Updated Dec 31, 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 17 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).

Rhea AI CAMT FY2025 2026-04-22

Camtek’s core engine converts profit into cash while headline earnings became noisy, making the latest year look weaker than operations were.

The key disconnect is between operating performance and reported net income: operating cash flow rose to $141.9M while net margin fell to 10.2%. With gross margin still at 50.5% and operating margin at 25.8%, the pressure appears to sit below the operating line rather than in the company’s day-to-day selling economics.

The business is showing scale without starving investment. R&D spending climbed to $48.3M from $31.5M over two years, yet operating margin also rebounded, which suggests added revenue is covering higher overhead instead of margin being protected by cutting investment.

The latest balance-sheet jump looks more like funded expansion than near-term stress: investing outflows reached $310.3M and financing inflows were $219.0M. Even with liabilities rising, short-term liquidity improved because current liabilities fell and the current ratio reached 8.4x, so the larger balance sheet is not being supported by tighter day-to-day funding.

Financial Health Signals

Financial Profile 77/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Camtek's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Camtek has an operating margin of 25.8%, meaning the company retains $26 of operating profit per $100 of revenue. This strong profitability earns a score of 77/100, reflecting efficient cost management and pricing power. This is up from 25.2% the prior year.

Growth

Camtek's revenue surged 15.6% year-over-year to $496.1M, reflecting rapid business expansion. This strong growth earns a score of 76/100.

Leverage

Camtek carries a low D/E ratio of 1.04, meaning only $1.04 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 81/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

100

With a current ratio of 8.35, Camtek holds $8.35 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Cash Flow

Camtek converts 25.7% of revenue into free cash flow ($127.5M). This strong cash generation earns a score of 88/100.

Returns

Camtek's ROE of 8.2% shows moderate profitability relative to equity, earning a score of 42/100. This is down from 21.6% the prior year.

Altman Z-Score Safe

10.84

Camtek scores 10.84, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($9.6B) relative to total liabilities ($642.8M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Neutral

5/9

Camtek passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed

2.80x

For every $1 of reported earnings, Camtek generates $2.80 in operating cash flow ($141.9M OCF vs $50.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$496.1M

YoY+15.6%

5Y CAGR+26.1%

10Y CAGR+21.7%

Camtek generated $496.1M in revenue in fiscal year 2025. This represents an increase of 15.6% from the prior year.

EBITDA

$140.0M

YoY+17.9%

5Y CAGR+41.3%

Camtek's EBITDA was $140.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 17.9% from the prior year.

Net Income

$50.7M

YoY-57.2%

5Y CAGR+18.4%

Camtek reported $50.7M in net income in fiscal year 2025. This represents a decrease of 57.2% from the prior year.

EPS (Diluted)

$1.04

YoY-57.0%

5Y CAGR+14.0%

Camtek earned $1.04 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 57.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$127.5M

YoY+13.7%

5Y CAGR+40.4%

Camtek generated $127.5M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 13.7% from the prior year.

Cash & Debt

$177.8M

YoY+40.9%

5Y CAGR+10.9%

10Y CAGR+19.2%

Camtek held $177.8M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

46M

YoY+0.8%

5Y CAGR+1.2%

10Y CAGR+2.6%

Camtek had 46M shares outstanding in fiscal year 2025. This represents an increase of 0.8% from the prior year.

Margins & Returns

Gross Margin

50.5%

YoY+1.6pp

5Y CAGR+3.5pp

10Y CAGR+4.6pp

Camtek's gross margin was 50.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.6 percentage points from the prior year.

Operating Margin

25.8%

YoY+0.7pp

5Y CAGR+11.3pp

10Y CAGR+45.4pp

Camtek's operating margin was 25.8% in fiscal year 2025, reflecting core business profitability. This is up 0.7 percentage points from the prior year.

Net Margin

10.2%

YoY-17.4pp

5Y CAGR-3.7pp

10Y CAGR+24.8pp

Camtek's net profit margin was 10.2% in fiscal year 2025, showing the share of revenue converted to profit. This is down 17.4 percentage points from the prior year.

Return on Equity

8.2%

YoY-13.4pp

5Y CAGR-1.4pp

10Y CAGR+23.0pp

Camtek's ROE was 8.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 13.4 percentage points from the prior year.

Capital Allocation

R&D Spending

$48.3M

YoY+26.3%

5Y CAGR+19.8%

10Y CAGR+15.5%

Camtek invested $48.3M in research and development in fiscal year 2025. This represents an increase of 26.3% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$14.4M

YoY+42.5%

5Y CAGR+43.0%

10Y CAGR+20.5%

Camtek invested $14.4M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 42.5% from the prior year.

CAMT Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$496.1M+15.6%	$429.2M+36.1%	$315.4M-1.7%	$320.9M+19.0%	$269.7M+73.0%	$155.9M
Cost of Revenue	$245.8M+12.1%	$219.3M+30.7%	$167.7M+4.2%	$161.1M+21.7%	$132.3M+60.1%	$82.6M
Gross Profit	$250.3M+19.2%	$210.0M+42.2%	$147.6M-7.6%	$159.9M+16.4%	$137.3M+87.5%	$73.2M
R&D Expenses	$48.3M+26.3%	$38.3M+21.7%	$31.5M+9.0%	$28.9M+22.9%	$23.5M+19.9%	$19.6M
SG&A Expenses	$73.8M+16.0%	$63.6M+25.3%	$50.8M+2.5%	$49.5M+15.2%	$43.0M+38.5%	$31.0M
Operating Income	$128.2M+18.6%	$108.1M+65.2%	$65.4M-19.7%	$81.5M+15.0%	$70.9M+213.4%	$22.6M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$1.6M-87.3%	$12.7M+41.4%	$9.0M+9.2%	$8.2M-29.3%	$11.7M+618.8%	$1.6M
Net Income	$50.7M-57.2%	$118.5M+50.7%	$78.6M-1.6%	$79.9M+32.6%	$60.3M+176.8%	$21.8M
EPS (Diluted)	$1.04-57.0%	$2.42+48.5%	$1.63-3.0%	$1.68+25.4%	$1.34+148.1%	$0.54

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
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	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

CAMT Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$1.3B+41.2%	$892.0M+13.3%	$787.7M+16.3%	$677.1M+16.0%	$583.8M+102.8%	$287.9M
Current Assets	$897.0M+44.7%	$620.1M+13.4%	$546.8M-1.8%	$557.0M+7.1%	$520.2M+98.6%	$261.9M
Cash & Equivalents	$177.8M+40.9%	$126.2M+5.2%	$120.0M-19.0%	$148.2M-38.8%	$241.9M+128.6%	$105.8M
Inventory	$112.2M+0.9%	$111.2M+29.4%	$85.9M+31.1%	$65.5M+11.5%	$58.8M+47.9%	$39.7M
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$74.3M0.0%	$74.3M0.0%	$74.3M	$0	N/A	N/A
Total Liabilities	$642.8M+87.5%	$342.8M+10.0%	$311.5M+6.3%	$293.0M+1.0%	$290.1M+378.4%	$60.6M
Current Liabilities	$107.4M-13.3%	$123.9M+28.2%	$96.7M+9.2%	$88.5M-1.3%	$89.7M+56.3%	$57.4M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$617.0M+12.3%	$549.2M+15.3%	$476.1M+24.0%	$384.1M+30.8%	$293.6M+29.2%	$227.3M
Retained Earnings	$386.5M+15.1%	$335.8M+21.1%	$277.4M+39.6%	$198.7M+67.3%	$118.8M+103.0%	$58.5M

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Total Assets	$1.3B+29.2%	$974.7M+9.3%	$892.0M+12.0%	$796.2M+1.1%	$787.7M+11.0%	$709.7M+4.8%	$677.1M+8.3%	$625.2M
Current Assets	$897.0M+27.6%	$702.9M+13.4%	$620.1M+10.6%	$560.5M+2.5%	$546.8M-6.8%	$586.5M+5.3%	$557.0M+2.8%	$541.7M
Cash & Equivalents	$177.8M-7.4%	$192.0M+52.1%	$126.2M+46.4%	$86.2M-28.1%	$120.0M-48.5%	$232.8M+57.1%	$148.2M+164.4%	$56.0M
Inventory	$112.2M-16.1%	$133.7M+20.2%	$111.2M+12.1%	$99.2M+15.5%	$85.9M+40.4%	$61.2M-6.6%	$65.5M-6.5%	$70.1M
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%	$74.3M0.0%	$74.3M0.0%	$74.3M	N/A	$0	N/A
Total Liabilities	$642.8M+84.6%	$348.3M+1.6%	$342.8M+6.9%	$320.7M+3.0%	$311.5M+10.0%	$283.2M-3.3%	$293.0M+1.6%	$288.4M
Current Liabilities	$107.4M-17.3%	$130.0M+4.9%	$123.9M+15.2%	$107.5M+11.2%	$96.7M+25.9%	$76.8M-13.3%	$88.5M+2.6%	$86.3M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$617.0M-1.5%	$626.5M+14.1%	$549.2M+15.5%	$475.4M-0.2%	$476.1M+11.7%	$426.4M+11.0%	$384.1M+14.1%	$336.8M
Retained Earnings	$386.5M-4.3%	$403.8M+20.3%	$335.8M+24.3%	$270.1M-2.6%	$277.4M+18.3%	$234.5M+18.0%	$198.7M+27.1%	$156.3M

CAMT Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$141.9M+16.1%	$122.2M+54.1%	$79.3M+37.2%	$57.8M-5.2%	$61.0M+136.7%	$25.8M
Capital Expenditures	$14.4M+42.5%	$10.1M+24.8%	$8.1M-1.2%	$8.2M+101.6%	$4.1M+68.7%	$2.4M
Free Cash Flow	$127.5M+13.7%	$112.1M+57.4%	$71.2M+43.6%	$49.6M-12.8%	$56.9M+143.7%	$23.3M
Investing Cash Flow	-$310.3M-455.0%	-$55.9M+48.0%	-$107.5M+28.7%	-$150.8M-25.5%	-$120.2M-419.7%	-$23.1M
Financing Cash Flow	$219.0M+464.7%	-$60.0M-33091.8%	$182K+5966.7%	$3K-100.0%	$194.8M+200.1%	$64.9M
Dividends Paid	N/A	$60.0M	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
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	FY24	FY23	FY22	FY21	FY20
Gross Margin	50.5%+1.6pp	48.9%+2.1pp	46.8%-3.0pp	49.8%-1.1pp	50.9%+3.9pp	47.0%
Operating Margin	25.8%+0.7pp	25.2%+4.4pp	20.7%-4.7pp	25.4%-0.9pp	26.3%+11.8pp	14.5%
Net Margin	10.2%-17.4pp	27.6%+2.7pp	24.9%+0.0pp	24.9%+2.6pp	22.4%+8.4pp	14.0%
Return on Equity	8.2%-13.4pp	21.6%+5.1pp	16.5%-4.3pp	20.8%+0.3pp	20.5%+11.0pp	9.6%
Return on Assets	4.0%-9.3pp	13.3%+3.3pp	10.0%-1.8pp	11.8%+1.5pp	10.3%+2.8pp	7.6%
Current Ratio	8.35+3.3	5.00-0.7	5.66-0.6	6.29+0.5	5.80+1.2	4.56
Debt-to-Equity	1.04+0.4	0.62-0.0	0.65-0.1	0.76-0.2	0.99+0.7	0.27
FCF Margin	25.7%-0.4pp	26.1%+3.5pp	22.6%+7.1pp	15.5%-5.6pp	21.1%+6.1pp	15.0%

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	8.35+2.9	5.41+0.4	5.00-0.2	5.21-0.4	5.66-2.0	7.64+1.3	6.29+0.0	6.28
Debt-to-Equity	1.04+0.5	0.56-0.1	0.62-0.1	0.67+0.0	0.65-0.0	0.66-0.1	0.76-0.1	0.86
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Camtek's annual revenue?

Camtek (CAMT) reported $496.1M in total revenue for fiscal year 2025. This represents a 15.6% 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 15.6% year-over-year, from $429.2M to $496.1M in fiscal year 2025.

Is Camtek profitable?

Yes, Camtek (CAMT) reported a net income of $50.7M in fiscal year 2025, with a net profit margin of 10.2%.

What is Camtek's EBITDA?

Camtek (CAMT) had EBITDA of $140.0M 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 50.5% 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 25.8% 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 10.2% 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 8.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Camtek's free cash flow?

Camtek (CAMT) generated $127.5M in free cash flow during fiscal year 2025. This represents a 13.7% 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 $141.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Camtek's total assets?

Camtek (CAMT) had $1.3B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Camtek's capital expenditures?

Camtek (CAMT) invested $14.4M 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 $48.3M in research and development during fiscal year 2025.

How many shares does Camtek have outstanding?

Camtek (CAMT) had 46M shares outstanding as of fiscal year 2025.

What is Camtek's current ratio?

Camtek (CAMT) had a current ratio of 8.35 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 1.04 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 4.0% 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 10.84, 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 5 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 to 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 2.80x, 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 77 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.