ASYS
Fallen FavouriteAI neutralAmtech Systems, Inc. · Technology · United States · $217M cap · $3.2M/day traded
$12.71 +5.4% · close 11 Nov · scored 11 Nov
Fallen Favourite: A good business, still expensive, and its momentum is weak.
As of 11 Nov 2026, the MoatMap Score for Amtech Systems, Inc. (ASYS) is 56/100, ranked against 25,000+ stocks in 38 markets (Quality 60, Value 46, Momentum 45, each scored against its sector).
Does the score work? Each tenth of the ranking, tracked monthly. See the record →
Amtech makes thermal processing and reflow equipment used in semiconductor advanced packaging. Its fiscal Q3 2026 revenue grew 14% on AI-related demand, and insiders made small purchases. The company is small and cyclical, has a new CEO taking over as the former chief executive moves to executive chairman, and has a history of uneven profitability. The AI demand is real, but the company's durability and moat are unproven at this scale.
The ranks quoted here are from the day it was written; today's Quality, Value and Momentum are the bars above.
ABOUT AMTECH SYSTEMS, INC.
Read
Amtech Systems, Inc. manufactures and sells advanced capital equipment and related consumables, primarily focusing on thermal processing solutions for the semiconductor, silicon carbide (SiC), and LED industries. The company's competitive moat stems from its niche technological expertise in critical thermal processes essential for manufacturing advanced materials, alongside strong intellectual property. Amtech serves as a specialized, long-standing supplier to leading chipmakers, benefiting from the high-growth trajectories of its target markets.
FINANCIAL SUMMARY (USD)
| Year | 2022 | 2023 | 2024 | 2025 | CAGR | TTM | 2026E | 2027E | Fwd CAGR |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 106.3M | 113.3M | 101.2M | 79.4M | -9.3% | 81.7M | 85.4M | 108.2M | 16.8% |
| EPS | 1.24 | -0.89 | -0.60 | -2.12 | — | 0.27 | 0.41 | 1.25 | 0.2% |
| Shares | 14.0M | 14.2M | 14.3M | 14.4M | +2.6% | 17.5M | — | — | — |
| Debt | 11.8M | 22.2M | 17.6M | 19.5M | 18.2% | 17.9M | — | — | — |
| Equity | 98.4M | 88.4M | 82.4M | 53.4M | -18.4% | — | — | — | — |
| Op CF | 5.2M | -7.7M | 9.8M | 7.9M | 14.8% | 9.6M | — | — | — |
| Inv CF | 18.8M | -37.8M | -2.2M | -0.9M | — | — | — | — | — |
| Fin CF | -8.3M | 11.7M | -10.6M | 0.3M | — | — | — | — | — |
No clear trend: not near its 52-week low, and not in a steady uptrend.
Swung more than 91% of stocks we rank over the past year (volatility 87% a year).
How this is worked out
The MoatMap Score weighs the business, its price and its trend. The price check reads only the chart: the price side of the Momentum score, in words.
The rules: Still falling is a new 52-week low in the last two weeks, at least 25% below the high. Finding a floor is no new low since. Turning up is 20 or more trading days without a new low, at least 10% off it, and back above a rising 50-day average. In an uptrend is above the 200-day average and within 15% of the high.
In 2,112 US drawdowns since 2001, buying while the price was still falling was followed by a further 20% drop 42% of the time. Waiting for a turn (the Turning up rule above) cut that to 33%, at about 7% higher prices and with no better returns. Part of that cut is simply not buying: 13% of falls never turned, and waiting kept those out. Among turns that were bought, 38% still fell another 20%, and 33% of turns were followed by a new low within six months. The benefit was largest in crashes such as 2008 and 2020.
What it measures: how much the price moved day to day over the past year, scaled to a yearly figure (annualised volatility) and ranked against every stock we cover. Very calm under 20% a year, Calm 20 to 30%, Average 30 to 40%, Bumpy 40 to 55%, Very bumpy above that.
What we found: across about 13,500 stocks in 34 markets (2002 to 2025), past swings were a good guide to the next year's, and bumpier stocks fell further. How much further changed too much between eras to put a number on it.
Calm is not safe: a calm stock can still slide steadily.
Rules fixed before any data was fetched. Describes the chart, not a recommendation.
SCORE BREAKDOWN
FUNDAMENTALS
SECTOR PEERS
Closest peers in Technology, ranked by industry match, size, and score similarity. Cross-listings of ASYS are excluded.
| Ticker | Company | Mkt Cap | Score |
|---|---|---|---|
| ASYS | Amtech Systems, Inc.(you) | $217M | 56 |
| INTT | InTest Corporation | $176M | 37 |
| PLAB | Photronics, Inc. | $1.7B | 71 |
| ACLS | Axcelis Technologies, Inc. | $3.3B | 51 |
| COHU | Cohu, Inc. | $2.3B | 42 |
| IPGP | IPG Photonics Corporation | $3.0B | 44 |
| TRT | Trio-Tech International | $52M | 20 |
| ATOM | Atomera Incorporated | $115M | 1 |
| ICHR | Ichor Holdings, Ltd. | $1.4B | 25 |
| UCTT | Ultra Clean Holdings, Inc. | $2.1B | 28 |
Peer medians: ROE 6.1% · P/E 28.8x · Gross margin 52.2%
Company Deep Dive
A 10,000-word report: the business and its segments, what management promised on earnings calls and whether it delivered, the competition, and how things could turn out.