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Held by 632 of 6,047 reporting institutions (97th percentile) — extremely crowded.
Data as of Q2 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Solve the discounted cash flow backwards, then stress-test the assumptions.
Average free cash flow across the last 3 positive fiscal years (FY2023, FY2024, FY2025). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $44.82 today, the market must believe free cash flow compounds 19.6%/yr for a decade (off $352.2M on the 3-yr avg basis).
On the basis ($336.6M) the requirement is 20.2%/yr. Shares issued to employees are added back in operating cash flow, so this basis treats them as free.
The market's 19.6% is more optimistic than its 9-yr track record.
Default is 12.8% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 0.25B shares (market data) · net debt $66.9M
mean 31.3% · volatility σ 83% · implied rate exceeded in 4/9 yrs
Central path = implied 19.6%/yr growth; shaded band = ±1σ (83%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Ranked against 20 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-06-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| STM | $44.4B | 275.4× | 22.7× | 3.8× | -11.1% | 33.9% | 1.4% | 0.9% | 0.8% | -0.4× | 594 |
| MCHP | $40.3B | 337.1× | 38.6× | 8.5× | 7.1% | 57.7% | 4.9% | 3.6% | 1.9% | 4.5× | 1,254 |
| CRDO | $37.3B | 79.0× | 75.3× | 27.9× | 206% | 68.0% | 35.4% | 22.9% | 22.9% | -2.4× | 945 |
| ON | $29.9B | 264.4× | 39.9× | 5.0× | -15.3% | 33.1% | 2.0% | 1.6% | 1.1% | 1.1× | 969 |
| Q | $25.7B | 37.2× | 21.8× | 5.4× | 9.7% | 46.2% | 15.3% | 10.3% | 6.5% | 2.4× | 1,273 |
| TSEM | $25.1B | 114.5× | 50.4× | 16.0× | 9.1% | 23.2% | 14.1% | 7.6% | 7.2% | -0.1× | 424 |
| MTSI | $23.6B | — | 124.2× | 24.4× | 32.6% | 54.7% | -5.6% | -4.1% | -3.0% | 2.0× | 620 |
| FSLR | $20.1B | 13.1× | — | 3.8× | 24.1% | 40.6% | 29.3% | 16.0% | 15.2% | — | 990 |
| SWKS | $18.0B | 24.9× | 22.9× | 4.4× | -2.2% | 41.2% | 11.7% | 8.3% | 7.1% | -0.2× | 686 |
| SITM | $17.4B | — | — | 53.4× | 61.2% | 53.6% | -13.1% | -3.7% | -3.7% | — | 538 |
| LSCC | $17.2B | — | — | 32.9× | 2.7% | 68.2% | 0.6% | 0.4% | 0.4% | -4.3× | 579 |
| SMTC | $16.1B | — | — | 15.4× | 15.5% | 51.6% | -3.8% | -7.3% | -3.9% | 4.7× | 546 |
| AMKR | $11.8B | 31.7× | 10.7× | 1.8× | 6.2% | 14.0% | 5.6% | 8.4% | 6.3% | 0.1× | 632 |
| RMBS | $10.6B | 46.5× | 38.5× | 15.1× | 27.1% | 79.6% | 32.6% | 16.9% | 16.9% | -0.7× | 593 |
| VIAV | $10.2B | — | 67.0× | 6.7× | 40.0% | 57.7% | -2.0% | -2.1% | -1.8% | -2.8× | 540 |
| QRVO | $10.1B | 31.5× | 18.5× | 2.7× | -1.1% | 45.9% | 9.2% | 10.1% | 6.9% | 0.6× | 525 |
| FORM | $10.0B | 185.6× | 104.8× | 12.8× | 2.8% | 39.3% | 6.9% | 5.3% | 5.2% | -1.0× | 484 |
| SIMO | $8.4B | 271.0× | 66.2× | 9.4× | 10.2% | 48.3% | 13.8% | 14.8% | 14.8% | -1.6× | 372 |
| AAOI | $8.3B | — | — | 18.2× | 82.8% | 30.0% | -8.4% | -5.2% | -4.8% | — | 468 |
| MXL | $8.0B | — | — | 17.2× | 29.7% | 56.8% | -29.2% | -30.2% | -23.7% | — | 414 |
| SLAB | $7.4B | — | — | 9.4× | 34.3% | 58.2% | -8.3% | -5.9% | -5.9% | — | 349 |
Peers = companies sharing AMKR's sector (Semiconductors & Related Devices) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
What the company returns to shareholders — and whether it's covered by cash.
The dividend is comfortably covered — only 43% of free cash flow, leaving room to grow it and fund buybacks. Last year: $81.9M dividends + $0 buybacks = $81.9M returned on $191.0M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Modest payoff on reinvested capital. Current ROIC on all capital: 6%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $1.38B covers the $162.4M due within a year 8.5× over. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit. Effective rate ~5.2% on $1.45B of debt.
Cash of $1.38B fully covers short-term debt of $162.4M.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-10-14
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.71B 100.0% | $6.32B 100.0% | $6.50B 100.0% | $7.09B 100.0% | $6.14B 100.0% | $5.05B 100.0% | $4.05B 100.0% | $4.32B 100.0% | $4.21B 100.0% | $3.93B 100.0% |
| Cost of Revenue | $5.77B 86.0% | $5.38B 85.2% | $5.56B 85.5% | $5.76B 81.2% | $4.91B 80.0% | $4.15B 82.2% | $3.40B 84.0% | $3.61B 83.5% | $3.45B 81.9% | $3.22B 81.9% |
| Gross Profit | $938.6M 14.0% | $933.2M 14.8% | $943.2M 14.5% | $1.33B 18.8% | $1.23B 20.0% | $900.8M 17.8% | $649.4M 16.0% | $710.6M 16.5% | $761.1M 18.1% | $709.9M 18.1% |
| Research & Development | $166.7M 2.5% | $163.0M 2.6% | $177.5M 2.7% | $149.4M 2.1% | $166.0M 2.7% | $140.7M 2.8% | $137.6M 3.4% | $157.2M 3.6% | $166.6M 4.0% | $117.2M 3.0% |
| Selling, General & Admin | $304.5M 4.5% | $331.8M 5.3% | $295.4M 4.5% | $283.4M 4.0% | $296.1M 4.8% | $302.8M 6.0% | $278.6M 6.9% | $295.2M 6.8% | $297.0M 7.1% | $284.1M 7.2% |
| Total Operating Expenses | $471.2M 7.0% | $494.8M 7.8% | $472.9M 7.3% | $432.8M 6.1% | $462.1M 7.5% | $443.6M 8.8% | $416.3M 10.3% | $452.4M 10.5% | $355.5M 8.5% | $401.3M 10.2% |
| Operating Income | $467.4M 7.0% | $438.5M 6.9% | $470.3M 7.2% | $897.2M 12.7% | $763.4M 12.4% | $457.2M 9.1% | $233.2M 5.8% | $258.1M 6.0% | $405.5M 9.6% | $308.6M 7.9% |
| Interest Expense | $75.4M 1.1% | $64.9M 1.0% | $59.0M 0.9% | $58.6M 0.8% | $51.5M 0.8% | $64.2M 1.3% | — | $78.9M 1.8% | $83.8M 2.0% | $79.7M 2.0% |
| Other Income (Expense), net | -$22.8M -0.3% | -$7.4M -0.1% | -$26.4M -0.4% | -$40.3M -0.6% | -$48.4M -0.8% | -$70.6M -1.4% | -$73.4M -1.8% | -$72.3M -1.7% | -$98.0M -2.3% | -$78.9M -2.0% |
| Pretax Income | $444.6M 6.6% | $431.0M 6.8% | $443.8M 6.8% | $856.9M 12.1% | $715.1M 11.6% | $386.7M 7.7% | $159.8M 3.9% | $185.8M 4.3% | $307.5M 7.3% | $229.7M 5.8% |
| Income Tax Expense | $68.5M 1.0% | $75.5M 1.2% | $81.7M 1.3% | $89.9M 1.3% | $69.5M 1.1% | $46.2M 0.9% | $37.2M 0.9% | $56.3M 1.3% | $39.8M 0.9% | $51.0M 1.3% |
| Net Income | $373.9M 5.6% | $354.0M 5.6% | $359.8M 5.5% | $765.8M 10.8% | $643.0M 10.5% | $338.1M 6.7% | $120.9M 3.0% | $127.1M 2.9% | $263.6M 6.3% | $175.5M 4.5% |
| Per Share | ||||||||||
| EPS (Basic) | $1.51 | $1.44 | $1.46 | $3.13 | $2.64 | $1.40 | $0.50 | $0.53 | $1.10 | $0.74 |
| EPS (Diluted) | $1.50 | $1.43 | $1.46 | $3.11 | $2.62 | $1.40 | $0.50 | $0.53 | $1.10 | $0.74 |
| Weighted Avg Shares (Basic) | 247.1M | 246.3M | 245.6M | 244.7M | 243.9M | 241.5M | 239.7M | 239.3M | 238.9M | 237.4M |
| Weighted Avg Shares (Diluted) | 248.5M | 247.8M | 247.2M | 246.2M | 245.7M | 242.2M | 240.1M | 239.7M | 239.7M | 238.0M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
EOD close · as of 2026-10-14
Where each multiple sits in its own 14-yr range · 100th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE 8% against ROIC 6% — 2% of the return on equity comes from leverage and buybacks rather than from the operating business.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
Low operating leverage — profit tracks sales closely (stable, less cyclical).
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 83.5 | 84.0 | 82.2 | 80.0 | 81.2 | 85.5 | 85.2 | 86.0 |
| Gross Profit | 16.5 | 16.0 | 17.8 | 20.0 | 18.8 | 14.5 | 14.8 | 14.0 |
| R&D | 3.6 | 3.4 | 2.8 | 2.7 | 2.1 | 2.7 | 2.6 | 2.5 |
| SG&A | 6.8 | 6.9 | 6.0 | 4.8 | 4.0 | 4.5 | 5.3 | 4.5 |
| Operating Income | 6.0 | 5.8 | 9.1 | 12.4 | 12.7 | 7.2 | 6.9 | 7.0 |
| Income Tax | 1.3 | 0.9 | 0.9 | 1.1 | 1.3 | 1.3 | 1.2 | 1.0 |
| Net Income | 2.9 | 3.0 | 6.7 | 10.5 | 10.8 | 5.5 | 5.6 | 5.6 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on AMKR: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Earns -4.83pts against its cost of capital — capital is being consumed, not created.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2019 | 7.0% | 12.8% (today's — no rate published for this year) | -5.8pts |
| FY2020 | 12.5% | 12.8% (today's — no rate published for this year) | -0.3pts |
| FY2021 | 17.8% | 7.8% | 10.0pts |
| FY2022 | 17.1% | 10.2% | 7.0pts |
| FY2023 | 8.9% | 10.5% | -1.6pts |
| FY2024 | 8.0% | 13.4% | -5.4pts |
| FY2025 | 7.9% | 11.5% | -3.6pts |
| Now | 6.3% | 12.8% | -6.5pts |
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2016 | 18.1% | 7.9% | 4.5% |
| FY2017 | 18.1% | 9.6% | 6.3% |
| FY2018 | 16.5% | 6.0% | 2.9% |
| FY2019 | 16.0% | 5.8% | 3.0% |
| FY2020 | 17.8% | 9.1% | 6.7% |
| FY2021 | 20.0% | 12.4% | 10.5% |
| FY2022 | 18.8% | 12.7% | 10.8% |
| FY2023 | 14.5% | 7.2% | 5.5% |
| FY2024 | 14.8% | 6.9% | 5.6% |
| FY2025 | 14.0% | 7.0% | 5.6% |
Leverage and buybacks account for 2 points of the 8% return on equity in FY2025. The business earns 6% on the capital it employs; the rest is balance sheet.
ROE is on average equity; ROIC is NOPAT over average invested capital (debt plus equity less excess cash). The gap is not a single adjustment.
$18M of goodwill — 0% of invested capital. The gap is what was paid above the fair value of what was bought; it is real capital shareholders provided, so neither bar is the whole answer.
Net margin is 557.39% against 1079.9% 3 years ago — a step down the business has not recovered, whatever the spread says today.
Converts 0.74x of reported profit into cash — adequate, without much margin.
Reported free cash flow is $191M; after share-based compensation it is $171M. The difference is a real cost that the cash flow statement adds back.
Covers interest 4.3x even after a 30% EBITDA decline.
| EBITDA decline | Interest coverage |
|---|---|
| 0% | 6.20x |
| 5% | 5.89x |
| 10% | 5.58x |
| 15% | 5.27x |
| 20% | 4.96x |
| 25% | 4.65x |
| 30% | 4.34x |
| 35% | 4.03x |
| 40% | 3.72x |
| 45% | 3.41x |
| 50% | 3.10x |
| 55% | 2.79x |
| 60% | 2.48x |
Ladder as of 2025-12-31 (10-K); cash from the 2025-12-31 balance sheet; FCF from FY2025.
Balance sheet at 2025-12-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
The maturity schedule is not part of this verdict — its filing anchor is often older than the balance sheet it sits beside, so a wall inside 24 months may not be visible here.
At $47.61, free cash flow must compound 20.71%/yr for 10 years. It has done 13.07%/yr over 6 years.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2020 | 137.4% | 20.7% |
| FY2021 | 57.4% | 20.7% |
| FY2022 | −44.2% | 20.7% |
| FY2023 | 173.3% | 20.7% |
| FY2024 | −33.7% | 20.7% |
| FY2025 | −44.7% | 20.7% |
The implied rate has been matched or beaten in 3 of the last 6 years.
| Step | Amount | Running total |
|---|---|---|
| Net income | $374M | $374M |
| Share-based comp | $20M | $394M |
| Other non-cash & working capital | $702M | $1.10B |
| Operating cash flow | $1.10B | $1.10B |
| Capex | −$905M | $191M |
| Free cash flow | $191M | $191M |
| FCF after SBC | $171M | $171M |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2020 | 24.6% | 13.2% | -11.5 points |
| FY2021 | 21.5% | 30.8% | 9.2 points |
| FY2022 | 15.5% | 8.5% | -7.0 points |
| FY2023 | -8.3% | -15.8% | -7.5 points |
| FY2024 | -2.9% | -8.2% | -5.4 points |
| FY2025 | 6.2% | 28.4% | 22.2 points |
| Fiscal year | DSO | DIO | DPO | Cash conversion cycle |
|---|---|---|---|---|
| FY2019 | 76.6 days | 23.7 days | 61.2 days | 39 days |
| FY2020 | 69.6 days | 26.1 days | 56 days | 39.7 days |
| FY2021 | 74.8 days | 36 days | 61.6 days | 49.3 days |
| FY2022 | 70.3 days | 39.9 days | 57 days | 53.2 days |
| FY2023 | 64.5 days | 25.8 days | 49.5 days | 40.8 days |
| FY2024 | 61 days | 21.1 days | 48.3 days | 33.7 days |
| FY2025 | 73.7 days | 27.7 days | 57.7 days | 43.7 days |
| Fiscal year | Accruals / assets |
|---|---|
| FY2019 | -9.4 percent |
| FY2020 | -8.6 percent |
| FY2021 | -7.9 percent |
| FY2022 | -4.9 percent |
| FY2023 | -13.4 percent |
| FY2024 | -10.6 percent |
| FY2025 | -8.9 percent |
SBC is added back inside operating cash flow, so reported free cash flow treats shares issued to employees as free. Percent of revenue says how expensive the payroll is; percent of operating cash flow says how much of the cash exists only because the charge was added back. The buyback offset is buybacks over SBC — below 1.0 the repurchase does not cover the shares issued.
Figures are the latest fiscal year (FY2025) from the company's own filings, not a trailing-twelve-month window — Q2 reads fiscal years throughout so the cash-conversion ratios and these share one basis. A blank is a line the filer did not report; it is never read as zero.