NasdaqGM:CAMT

Stock Analysis Report

Executive Summary

Camtek Ltd. provides inspection and metrology solutions for the semiconductor industry in the Asia Pacific, North America, and Europe.

Snowflake

Fundamentals

Flawless balance sheet with solid track record.


Similar Companies

Share Price & News

How has Camtek's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

1.7%

CAMT

3.0%

US Semiconductor

1.8%

US Market


1 Year Return

41.6%

CAMT

20.6%

US Semiconductor

7.3%

US Market

Return vs Industry: CAMT exceeded the US Semiconductor industry which returned 20.6% over the past year.

Return vs Market: CAMT exceeded the US Market which returned 7.3% over the past year.


Shareholder returns

CAMTIndustryMarket
7 Day1.7%3.0%1.8%
30 Day1.9%-0.02%-0.7%
90 Day18.3%4.7%0.06%
1 Year44.4%41.6%22.9%20.6%9.7%7.3%
3 Year249.0%229.1%82.2%71.5%46.3%36.9%
5 Year190.7%174.1%137.4%112.9%64.5%46.5%

Price Volatility Vs. Market

How volatile is Camtek's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Camtek undervalued compared to its fair value and its price relative to the market?

16.19x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: CAMT ($10.17) is trading above our estimate of fair value ($5.91)

Significantly Undervalued: CAMT is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: CAMT is good value based on its PE Ratio (16.2x) compared to the Semiconductor industry average (27.6x).

PE vs Market: CAMT is good value based on its PE Ratio (16.2x) compared to the US market (17.7x).


Price to Earnings Growth Ratio

Low PEG Ratio: CAMT is poor value based on its PEG Ratio (2.5x)


Price to Book Ratio

PB vs Industry: CAMT is overvalued based on its PB Ratio (3x) compared to the US Semiconductor industry average (2.8x).


Next Steps

Future Growth

How is Camtek forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

6.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CAMT's forecast earnings growth (6.4% per year) is above the savings rate (2.7%).

Earnings vs Market: CAMT's earnings (6.4% per year) are forecast to grow slower than the US market (14.6% per year).

High Growth Earnings: CAMT's earnings are forecast to grow, but not significantly.

Revenue vs Market: CAMT's revenue (7.9% per year) is forecast to grow faster than the US market (7.3% per year).

High Growth Revenue: CAMT's revenue (7.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: Insufficient data to determine if CAMT's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Camtek performed over the past 5 years?

49.7%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: CAMT's earnings have grown significantly by 49.7% per year over the past 5 years.

Accelerating Growth: CAMT's earnings growth over the past year (64.1%) exceeds its 5-year average (49.7% per year).

Earnings vs Industry: CAMT earnings growth over the past year (64.1%) exceeded the Semiconductor industry -6.2%.


Return on Equity

High ROE: CAMT's Return on Equity (17.3%) is considered low.


Return on Assets

ROA vs Industry: CAMT has a higher Return on Assets than the Semiconductor industry average last year.


Return on Capital Employed

ROCE Improving: CAMT has significantly improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is Camtek's financial position?


Financial Position Analysis

Short Term Liabilities: CAMT's short term assets ($143.9M) exceeds its short term liabilities ($32.1M)

Long Term Liabilities: CAMT's short term assets (143.9M) exceeds its long term liabilities (2.5M)


Debt to Equity History and Analysis

Debt Level: CAMT is debt free.

Reducing Debt: CAMT had no debt 5 years ago.

Debt Coverage: CAMT has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: CAMT has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: CAMT has a high level of physical assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if CAMT's debt is covered by short term assets.


Next Steps

Dividend

What is Camtek's current dividend yield, its reliability and sustainability?

2.75%

Current Dividend Yield


Dividend Yield vs Market

company2.8%marketbottom25%1.5%markettop25%3.7%industryaverage2.2%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: CAMT's dividend (2.75%) is higher than the bottom 25% of dividend payers in the US market (1.45%).

High Dividend: CAMT's dividend (2.75%) is low compared to the top 25% of dividend payers in the US market (3.72%).

Stable Dividend: Whilst dividend payments have been stable, CAMT has been paying a dividend for less than 10 years.

Growing Dividend: CAMT has only been paying a dividend for 2 years, and since then payments have not increased.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (44.6%), CAMT's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of Camtek's salary, the management and board of directors tenure and is there insider trading?

1.9yrs

Average management tenure


CEO

Rafi Amit (70yo)

5.8yrs

Tenure

US$831,423

Compensation

Mr. Rafi Amit has been the Chief Executive Officer Camtek Ltd since January 2014. Mr. Amit has been the Chairman of the Board of Camtek Ltd. since June 2019. He served as the President of Priortech Ltd. si ...


CEO Compensation Analysis

Compensation vs. Market: Rafi's total compensation ($USD831.42K) is below average for companies of similar size in the US market ($USD1.79M).

Compensation vs Earnings: Rafi's compensation has increased by more than 20% in the past year.


Management Age and Tenure

1.9yrs

Average Tenure

65yo

Average Age

Experienced Management: CAMT's management team is not considered experienced ( 1.9 years average tenure), which suggests a new team.


Board Age and Tenure

1.0yrs

Average Tenure

65yo

Average Age

Experienced Board: CAMT's board of directors are not considered experienced ( 1 years average tenure), which suggests a new board.


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown


Management Team

  • Ramy Langer (65yo)

    VP & COO

    • Tenure: 1.9yrs
    • Compensation: US$530.94k
  • Rafi Amit (70yo)

    Chairman of the Board & CEO

    • Tenure: 5.8yrs
    • Compensation: US$831.42k
  • Mono Grencel (65yo)

    Vice President of Operations

    • Tenure: 12.8yrs
    • Compensation: US$287.85k
  • Moshe Eisenberg (52yo)

    VP & CFO

    • Tenure: 7.9yrs
    • Compensation: US$517.27k
  • Orit Geva Dvash (47yo)

    Vice President of Human Resources

    • Tenure: 1.9yrs
    • Compensation: US$264.64k
  • Omri Katz

    Vice President of Marketing & Sales Support

    • Tenure: 1.9yrs
  • Shimon Koren

    Chief Technology Officer

    • Tenure: 0.9yrs

Board Members

  • Rafi Amit (70yo)

    Chairman of the Board & CEO

    • Tenure: 5.8yrs
    • Compensation: US$831.42k
  • Eran Bendoly (54yo)

    Independent Director

    • Tenure: 18.9yrs
    • Compensation: US$34.90k
  • Chezy Ofir (68yo)

    Independent Director

    • Tenure: 1yrs
  • Yotam Stern (66yo)

    Director

    • Tenure: 32.8yrs
  • Leo Huang

    Director

    • Tenure: 0.8yrs
  • Moty Ben-Arie (63yo)

    Independent Director

    • Tenure: 2.6yrs
  • Yael Andorn (49yo)

    External Director

    • Tenure: 1yrs
  • I-Shih Tseng

    Director

    • Tenure: 0.8yrs
  • Yossi Shacham-Diamand (65yo)

    External Director

    • Tenure: 1yrs

Company Information

Camtek Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Camtek Ltd.
  • Ticker: CAMT
  • Exchange: NasdaqGM
  • Founded: 1987
  • Industry: Semiconductor Equipment
  • Sector: Semiconductors
  • Market Cap: US$391.778m
  • Shares outstanding: 38.52m
  • Website: https://www.camtek.com

Number of Employees


Location

  • Camtek Ltd.
  • Ramat Gavriel Industrial Zone
  • PO Box 544
  • Migdal Ha'emek
  • 23150
  • Israel

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CAMTNasdaqGM (Nasdaq Global Market)YesOrdinary SharesUSUSDJul 2000
CAMTTASE (The Tel-Aviv Stock Exchange)YesOrdinary SharesILILSJul 2000
CMZDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJul 2000

Biography

Camtek Ltd. provides inspection and metrology solutions for the semiconductor industry in the Asia Pacific, North America, and Europe. It provides solutions based on its advanced image processing, motion c ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/18 23:45
End of Day Share Price2019/10/18 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.