AMTECH SYSTEMS INC
ASYS · Industrials · $228M mkt cap · FY2025 filings · No moat ·
Doesn't clear the bar
The five investor questions
2021–2025 (latest 5 aligned FYs; v3 window cap 5): revenue $85.2M to $79.4M, decreasing; diluted EPS 0.11 to -2.12, decreasing.
Median gross margin 37.0% over 10y, stable.
Median ROIC 1.6%, above the 12% hurdle in 10% of years.
Net cash position — no leverage risk.
Owner earnings changed trend unclear over up to the ten most recent annual observations.
Price vs. value if growth stopped today
A cautious baseline, not a price target: what the shares may support if normalized owner earnings simply hold steady.
- Not reported
- Unavailable — insufficient owner-earnings data
- Unavailable — insufficient growth-model data
- $15.89
- No price data
This zero-growth estimate assumes trailing owner earnings persist — unreliable for declining businesses. The recent FY revenue series does not trigger the three-consecutive-declines flag.
Model details under moat-index@3.0.0: zero-growth multiple 11.1×, capped-growth comparison at no more than 18×; 9% discount rate; high-end growth 0% (capped at 4%) using min(5y revenue CAGR, 5y diluted-EPS CAGR), clamped to 0%–4%; maintenance capex uses min(capex, D&A); abstain when D&A is unavailable. This is a disclosed model range, not intrinsic value as fact.
18 years of fundamentals
The business, in plain English
AMTECH SYSTEMS INC booked $79.4M of revenue in FY2025 in the Industrials sector and kept 34.0% of it as gross profit — a moderate-margin business by that measure. After every other cost, −38.2% of each revenue dollar reached the bottom line.
Across the filed record, revenue grew from $53M (FY2009) to $79.4M (FY2025) — about 2.6% a year compounded over 16 years.
It earned −62.9% on invested capital in the latest filed year, FY2025. Across the full 17-year measurable filed record, median ROIC was −4.9%. Over the v3 recent window (10 measurable filed years), median ROIC was 1.6%. The Returns on Capital filter above scores it 4/100.
The balance sheet carried $294000 of total debt in FY2025. Balance-Sheet Safety scores it 55/100.
Put together: Pricing Power is the strongest of the five filters (56/100) and Returns on Capital the weakest (4/100), which is how ASYS lands at 34/100 — a None moat.
This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.
Gaps in a line mean that item isn’t in ASYS’s filings for that year. The series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.
Visual explainers
The filing-backed explainer service is temporarily unavailable, so no partial or guessed chart is shown.
Moat Score history
Breaks in the line mark methodology or normalizer upgrades — readings across versions aren’t compared, so a level shift there isn’t a change in the business.
Tier changesSame-methodology and same-normalizer crossings of the Wide / Narrow / Shallow bars
- Normalizer upgraded unstamped (version unknown)tomoat-xbrl-normalizer@1.1.0 — readings across versions aren’t comparedJul 26, 2026
- Methodology upgraded moat-index@2.0.0tomoat-index@3.0.0 — readings across versions aren’t comparedJul 23, 2026
- Methodology upgraded moat-index@1.2.0tomoat-index@2.0.0 — readings across versions aren’t comparedJul 20, 2026
Scores are logged append-only and never overwritten — this record cannot be reconstructed retroactively, which is exactly why it’s worth keeping.
Insider activity
Form 4 reports mix P/S market or private transactions with compensation-plan mechanics. Activity casually described as “insider selling” can include compensation mechanics; awards, tax withholding, and option exercises are shown by their exact filed class here, never collapsed into “Bought” or “Sold.”
These are disclosed filing facts and arithmetic aggregates, not a signal or verdict.
The insider-filing service is temporarily unavailable, so no partial or guessed answer is shown for ASYS.
Industrials context
#299 of 428 scored Industrials companies, ranked by Moat Score.
Nearest peers by Moat Score
- #297NASC Can B Corp.33.6 out of 100, No moatNo moat
- #298J JACOBS SOLUTIONS INC.33.5 out of 100, No moatNo moat
- #300HFFG HF FOODS GROUP INC.33.5 out of 100, No moatNo moat
- #301MGPI MGP INGREDIENTS, INC.33.1 out of 100, No moatNo moat
Compare ASYS with its nearest peers →All Industrials companies on the Index →
Common questions about ASYS
- Does AMTECH SYSTEMS INC have an economic moat?
- Based on its FY2025 SEC filings, the Moat Index scores AMTECH SYSTEMS INC (ASYS) 33.5 out of 100 — below the Shallow-moat bar, so no moat. The five questions behind that score begin at 20% each; if exactly one genuinely lacks data, the other four weights are renormalized and disclosed. revenue and EPS trend 26, pricing power 56, returns on capital 4, balance-sheet safety 55, capital allocation 26.
- How has ASYS's Moat Score changed over time?
- The record logs 15 readings since Jul 17, 2026; the latest reads 33.5 out of 100 (no moat). No tier changes on record yet. (Methodology or normalizer upgrades on Jul 20, 2026, Jul 23, 2026, Jul 26, 2026 re-based the score; readings across versions aren't compared.) The history is append-only — readings are only ever added, never rewritten.