Camtek (HAM:CMZ) Cyclically Adjusted PS Ratio: (As of Aug. 22, 2026)

Author: Vera Yuan Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

HAM:CMZ Camtek Ltd HAM:CMZ
76 GF Score
Price €125.60
GF Value €101.00
Valuation Modestly Overvalued
! 4 Warning Signs
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What is Camtek Cyclically Adjusted PS Ratio?

Note: If the price history is too short, we do not calculate current Cyclically Adjusted PS Ratio for this stock. All the historical data is shown as the company's primary share's data instead.

Shiller PE for Stocks: The True Measure of Stock Valuation


Camtek  (HAM:CMZ) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


Camtek Cyclically Adjusted PS Ratio Related Terms


Camtek Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Camtek's Cyclically Adjusted PS Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Camtek Cyclically Adjusted PS Ratio Chart

Camtek Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 12.69 5.27 15.14 15.52 17.51

Camtek Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PS Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 15.08 18.05 17.51 23.96 24.79

HAM:CMZ vs : Cyclically Adjusted PS Ratio Comparison

For the Semiconductor Equipment & Materials subindustry, Camtek's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Camtek Cyclically Adjusted PS Ratio vs Semiconductors Industry

For the Semiconductors industry and Technology sector, Camtek's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Camtek's Cyclically Adjusted PS Ratio falls into.


HAM:CMZ
76GF Score
Camtek Ltd HAM:CMZ
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Camtek Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

Camtek's Cyclically Adjusted Revenue per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Camtek's adjusted Revenue per Share data for the three months ended in Jun. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=2.245/333.9520*333.9520
=2.245

Current CPI (Jun. 2026) = 333.9520.

Camtek Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201609 0.530 241.428 0.733
201612 0.576 241.432 0.797
201703 0.557 243.801 0.763
201706 0.571 244.955 0.778
201709 0.549 246.819 0.743
201712 0.608 246.524 0.824
201803 0.608 249.554 0.814
201806 0.712 251.989 0.944
201809 0.748 252.439 0.990
201812 0.788 251.233 1.047
201903 0.807 254.202 1.060
201906 0.806 256.143 1.051
201909 0.750 256.759 0.975
201912 0.756 256.974 0.982
202003 0.689 258.115 0.891
202006 0.823 257.797 1.066
202009 0.849 260.280 1.089
202012 0.955 260.474 1.224
202103 1.083 264.877 1.365
202106 1.251 271.696 1.538
202109 1.345 274.310 1.637
202112 1.419 278.802 1.700
202203 1.455 287.504 1.690
202206 1.563 296.311 1.762
202209 1.714 296.808 1.928
202212 1.606 296.797 1.807
202303 1.397 301.836 1.546
202306 1.400 305.109 1.532
202309 1.540 307.789 1.671
202312 1.646 306.746 1.792
202403 1.812 312.332 1.937
202406 1.933 314.175 2.055
202409 2.047 315.301 2.168
202412 2.264 315.605 2.396
202503 2.227 319.799 2.326
202506 2.167 322.561 2.244
202509 2.346 324.800 2.412
202512 2.130 324.054 2.195
202603 2.045 330.213 2.068
202606 2.245 333.952 2.245

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Camtek (HAM:CMZ) Overvalued in 2026?

Based on GuruFocus' analysis, Camtek stock appears to be overvalued. The current stock price of €125.60 is trading 24.4% above its estimated GF Value™ of €101.00. GuruFocus considers Camtek to be Modestly Overvalued.

Key valuation signals for HAM:CMZ:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €101.00 vs. price of €125.60 (24.4% above fair value)
  • GF Score™: 76/100 with 4 warning signs

No single metric tells the full story. See the HAM:CMZ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Camtek Business Description

Comparable Companies
Other Exchanges CAMT:USACAMT:Israel
Address Ramat Gavriel Industrial Zone, P.O. Box 544, Migdal HaEmek, ISR, 23150
Camtek Ltd is engaged in the manufacturing of metrology and inspection equipment and software solutions for the semiconductor industry. Its systems inspect wafers for various semiconductor market segments, including Advanced Packaging, Chiplets, HBM, Compound Semiconductors, Memory, CMOS Image Sensors, Power, RF and MEMS, serving the industry's IDMs, OSATs, and foundries. Geographically, it derives maximum revenue from China followed by Asia Pacific, Korea, United States, and Europe. The company's products and services include Surface Inspection, Bump Inspection and Metrology, and others.
76GF Score

Get the complete analysis for HAM:CMZ

Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€125.60
Price
€101.00
GF Value