Amkor Technology, Inc. (AMKR) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-64.8%

$13.34

vs $37.88 price

Levered DCF

$11.09

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

2.85

Grey zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	26.15×	17.84×	22.79×	7.66×	9.39×	10.77×	26×	12.38×
P/B	2.18×	1.53×	2.06×	1.6×	2.05×	1.57×	1.59×	0.86×
P/S	1.45×	1×	1.26×	0.83×	0.98×	0.72×	0.77×	0.36×
EV / EBITDA	8.56×	6.12×	7.49×	4.26×	5.02×	4.52×	5.16×	2.65×
Gross margin	14.0%	14.8%	14.5%	18.8%	20.0%	17.8%	16.0%	16.5%
Operating margin	7.0%	6.9%	7.2%	12.7%	12.4%	9.1%	5.8%	6.0%
Net margin	5.6%	5.6%	5.5%	10.8%	10.5%	6.7%	3.0%	2.9%
Current ratio	2.27×	2.11×	2.31×	1.99×	1.7×	1.62×	1.89×	1.44×
Debt / equity	0.35×	0.36×	0.36×	0.44×	0.49×	0.6×	0.86×	0.73×
Interest coverage	6.2×	6.75×	7.97×	15.32×	14.82×	7.13×	3.26×	3.27×
Dividend yield	0.8%	2.8%	0.9%	0.9%	0.8%	0.3%	0.0%	0.0%
Payout ratio	21.9%	50.5%	20.8%	7.2%	8.0%	2.9%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	8.4%	8.5%	9.1%	20.9%	21.9%	14.5%	6.2%	6.9%
Return on invested capital	6.0%	6.2%	6.8%	14.8%	15.0%	10.3%	4.7%	5.2%
Return on assets	4.6%	5.1%	5.3%	11.2%	10.6%	6.7%	2.6%	2.8%
Free cash flow yield	2.0%	5.4%	6.4%	3.2%	5.6%	6.0%	2.9%	7.4%
Earnings yield	3.8%	5.6%	4.4%	13.1%	10.6%	9.3%	3.9%	8.1%
Enterprise value	$9.9B	$6.7B	$8.5B	$6.5B	$6.7B	$4.3B	$3.9B	$2.2B
Net debt / EBITDA	0.16×	0.32×	0.28×	0.42×	0.47×	0.73×	1.06×	0.78×
Cash conversion cycle (days)	44	34	41	53	49	40	39	31