CAMTNasdaqOptical Instruments & LensesFiscal year ends December 31
CAMTEK LTD
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Mar 19, 2026
$128.94−0.53 (-0.41%)
Close on Oct 19, 2026
- Market cap
- –
- P/E (TTM)
- 124.0
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
50.5%+3.5 pts over 5 years
Operating margin
25.8%+11.3 pts over 5 years
Net margin
10.2%−3.7 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +15.6% | +15.6% | +26.1% | +21.7% | |
| Gross profit | +19.2% | +16.1% | +27.9% | +22.9% | |
| Operating income | +18.6% | +16.3% | +41.5% | – | |
| Net income | -57.2% | -14.1% | +18.4% | – | |
| EPS, diluted | -57.0% | -14.8% | +14.0% | – | |
| Free cash flow | +13.7% | +37.0% | +40.4% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 6.7% | 12.0% | 8.7% | |
| Return on assets | 4.3% | 9.5% | 4.7% | |
| Current ratio | 2.72 | 4.56 | 8.35 | |
| Interest coverage | 8.2× | – | – | |
| Inventory turnover | 2.1× | 2.6× | 2.2× | |
| Capex to revenue | 1.6% | 1.5% | 2.9% | |
| Diluted shares | 35M | 0M | 0M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Camtek generated $462.19M from operations and spent $44.86M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$462.19M
Used
$44.86M
Capital expenditure$44.86M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin10.2%
×Asset turnover0.46×
×Equity multiplier1.85×
=Return on equity, FY20258.7%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 10.2% | 0.46× | 1.85× | 8.7% |
| FY2024 | 27.6% | 0.51× | 1.64× | 23.1% |
| FY2023 | 24.9% | 0.43× | 1.70× | 18.3% |
| FY2022 | 24.9% | 0.51× | 1.86× | 23.6% |
| FY2021 | 22.4% | 0.62× | 1.67× | 23.1% |
| FY2020 | 14.0% | 0.68× | 1.26× | 12.0% |
| FY2019 | 16.4% | 0.86× | 1.31× | 18.5% |
| FY2018 | 15.2% | 0.97× | 1.37× | 20.2% |
| FY2017 | 14.9% | 0.86× | 1.39× | 17.7% |
| FY2016 | 6.0% | 0.71× | 1.57× | 6.7% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$50.72M
- Cash generatingOperating cash flow above zero$141.87M
- Return on assets improvedROA up on the prior year15.0% → 5.7%
- Earnings backed by cashOperating cash flow above net income$141.87M vs $50.72M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose5.00 → 8.35
- No dilutionShare count did not rise0M → 0M
- Gross margin improvedGross margin up on the prior year48.91% → 50.46%
- More efficientAsset turnover rose0.54 → 0.56