MeritValue

AMTECH SYSTEMS INC

ASYSdata completeness 100%17 fiscal years on file
i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$85.2M1$106.3M2$113.3M2$101.2M3$79.4M3
Net income$1.51M4$17.4M5−$12.6M5−$8.49M6−$30.3M6
Operating cash flow−$5.96M7$5.2M8−$7.7M8$9.84M9$7.88M9
Capital expenditure$3.01M10$1.14M11$2.9M11$4.88M12$950,00012
Free cash flow (derived)−$8.97M7$4.07M8−$10.6M8$4.96M9$6.93M9
Total debt$9.6M13$180,00014$10.7M15$290,00016$294,00017
Cash & equivalents$32.8M18$46.9M19$13.1M20$11.1M21$17.9M21
Diluted shares14.3M14.2M14.1M14.2M14.3M

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

ii. Your slice — ownership made literal
If you owned
shares
You’d own
0.000070%
of the whole company
Your share of last year’s profit
−$21.2
Your share of its debt
$0.21
Your share of free cash flow
$4.84
iii. What it’s worth — engine v0.1.0
DCF · Growth Exit 10Y
$8.08
assumptions (10)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears10
  • fcfGrowth5.0%
  • fcfBase$4.96M
DCF · Growth Exit 5Y
$7.54
assumptions (10)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears5
  • fcfGrowth5.0%
  • fcfBase$4.96M
Earnings Power Value
not applicable
normalized (5y-median) earnings non-positive — EPV undefined
Graham Number
not applicable
diluted EPS missing or non-positive — Graham Number undefined

Different models answer different questions — which to trust when →

iv. The price question — last, on purpose
What does today’s price assume?
Type a price. The ledger answers.
Or set your own belief
FCF growth, next 5 years5.0%
Discount rate (WACC)8.78%
Terminal growth2.5%
At your growth, a share is worth $7.54

Default growth 5.0%= this company’s own filed history (median-to-median FCF CAGR, clamped 0–20%). Your adjustments are recorded anonymously. They become the “what do owners actually believe” dataset.

Sources — the receipts
  1. 10-K · period ending 2021-09-30 · accession 0000950170-23-070422 (RevenueFromContractWithCustomerIncludingAssessedTax)
  2. 10-K · period ending 2022-09-30 · accession 0000950170-24-135825 (RevenueFromContractWithCustomerIncludingAssessedTax)
  3. 10-K · period ending 2024-09-30 · accession 0001193125-25-314147 (RevenueFromContractWithCustomerIncludingAssessedTax)
  4. 10-K · period ending 2021-09-30 · accession 0000950170-23-070422 (NetIncomeLoss)
  5. 10-K · period ending 2022-09-30 · accession 0000950170-24-135825 (NetIncomeLoss)
  6. 10-K · period ending 2024-09-30 · accession 0001193125-25-314147 (NetIncomeLoss)
  7. 10-K · period ending 2021-09-30 · accession 0000950170-23-070422 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2022-09-30 · accession 0000950170-24-135825 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2024-09-30 · accession 0001193125-25-314147 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2021-09-30 · accession 0000950170-23-070422 (PaymentsToAcquirePropertyPlantAndEquipment)
  11. 10-K · period ending 2022-09-30 · accession 0000950170-24-135825 (PaymentsToAcquirePropertyPlantAndEquipment)
  12. 10-K · period ending 2024-09-30 · accession 0001193125-25-314147 (PaymentsToAcquirePropertyPlantAndEquipment)
  13. 10-K · period ending 2021-09-30 · accession 0000950170-21-004729 (LongTermDebtNoncurrent)
  14. 10-K · period ending 2022-09-30 · accession 0000950170-22-025872 (LongTermDebt)
  15. 10-K · period ending 2023-09-30 · accession 0000950170-23-070422 (LongTermDebt)
  16. 10-K · period ending 2024-09-30 · accession 0000950170-24-135825 (LongTermDebt)
  17. 10-K · period ending 2025-09-30 · accession 0001193125-25-314147 (LongTermDebt)
  18. 10-K · period ending 2021-09-30 · accession 0000950170-22-025872 (CashAndCashEquivalentsAtCarryingValue)
  19. 10-K · period ending 2022-09-30 · accession 0000950170-23-070422 (CashAndCashEquivalentsAtCarryingValue)
  20. 10-K · period ending 2023-09-30 · accession 0000950170-24-135825 (CashAndCashEquivalentsAtCarryingValue)
  21. 10-K · period ending 2024-09-30 · accession 0001193125-25-314147 (CashAndCashEquivalentsAtCarryingValue)