One-glance verdict
Overvalued
$17.70 our estimate vs market $47.95
Wall Street consensus: $76.40 (331.6% higher than our fair-value estimate)
171% above our estimate, beyond the bull case
Fundamentals snapshot
Amkor Technology, Inc.
AMKR · NMS · Technology · Semiconductor Equipment & Materials
Current price
$47.95
52-week range
$27.55 - $96.68
Market cap
$11.91B
Balance sheet
Watch
6.20x Adequate
Net debt $161.88M. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
2 Risks
3 rewards · 2 risks
- Reward Revenue grew 5.4% last year.
- Reward Returns 12.5% on equity, ahead of 33% of its peers.
- Risk Stock trades 15.0% above its 5-year average P/E.
- Risk Operating margin compressed from 12.7% to 10.5% over 3 years.
What this company does
Amkor Technology, Inc.
Amkor Technology acts as a crucial final step for chipmakers, providing the packaging and testing that gets tiny computer chips ready for products like smartphones, cars, and computers. The company makes money by being a specialized, outsourced part of the semiconductor supply chain (the entire journey of a chip from a design to a finished product), which lets other tech giants focus on designing chips instead of this complex assembly process. This service is essential because nearly every electronic device we use depends on these chips being properly packaged and tested to work correctly.
How the company got here
Founded in 1968 by the Kim family, Amkor started as a bridge between U.S. electronics companies and South Korean manufacturing. Its original name was a blend of "America" and "Korea." The company's main business was to take finished silicon wafers, which contain many tiny computer chips, and perform the final steps of cutting, packaging, and testing them. This service, known as outsourced semiconductor assembly and test (OSAT), became increasingly important as more electronics were made in Asia. Amkor went public on the Nasdaq stock exchange in 1998, which gave it the money to grow and acquire other companies, expanding its technology and manufacturing locations around the world.
What it actually does
Think of a computer chip as the brain of an electronic device. Amkor doesn't design or make the brain itself, but it does everything needed to make that brain work inside your phone, car, or computer. After another company prints the microscopic circuits onto a large disc of silicon (called a wafer), Amkor takes over. It cuts the individual chips from the wafer, puts them in a protective casing (packaging), and connects them so they can be attached to a circuit board. Finally, it tests the chips to make sure they work correctly before they are shipped to the companies that make the final electronic products you buy.
Advanced Products
This is Amkor's largest and most important business, making up over 80% of its sales. This segment handles the most complex and high-performance chips, the kind you'd find in the latest smartphones, data centers, and artificial intelligence (AI) systems. These advanced packages are more difficult to make and are crucial for making devices smaller and more powerful. Companies that design these powerful chips pay Amkor for these sophisticated packaging and testing services.
Mainstream Products
This part of the business focuses on more traditional and less complex chip packaging. These are the chips that go into a huge variety of everyday electronics where the absolute smallest size and highest speed aren't as critical. This includes things like sensors in home appliances or basic controls in cars. While it's a smaller portion of Amkor's revenue, it provides essential components for a vast range of electronic devices. The process often involves connecting the chip to its package using tiny wires, a reliable and cost-effective method known as wirebonding.
What management is betting on now
Amkor's main focus is on 'advanced packaging,' which is becoming more critical as it gets harder to shrink the circuits on the chips themselves. The company is also investing heavily in building a large new facility in Arizona to be closer to major chip manufacturers setting up in the U.S., a move that supports the goal of a more resilient domestic supply chain (a network of companies involved in producing and distributing a product). Management is also deepening its partnerships with major technology companies in fast-growing areas like artificial intelligence and automotive electronics. These bets are designed to make Amkor a more essential partner in creating the next generation of powerful electronics.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q2
$58.38M
FY2024 Q3
$-31.33M
FY2024 Q4
$251.88M
FY2025 Q1
$-55.75M
FY2025 Q2
$112.27M
FY2025 Q3
$-77.93M
FY2025 Q4
$212.40M
FY2026 Q1
$-79.52M
Revenue
$1.68B
Net income
$83.35M
Diluted EPS
0.33
Operating cash flow
$145.09M
Free cash flow
$-79.52M
Fetching…
Sources
Revenue
$1.89B
Net income
$171.76M
Diluted EPS
0.68
Operating cash flow
$644.48M
Free cash flow
$212.40M
Fetching…
Sources
Revenue
$1.99B
Net income
$126.59M
Diluted EPS
0.51
Operating cash flow
$168.51M
Free cash flow
$-77.93M
Fetching…
Sources
Revenue
$1.51B
Net income
$54.42M
Diluted EPS
0.22
Operating cash flow
$258.46M
Free cash flow
$112.27M
Fetching…
Sources
Revenue
$1.32B
Net income
$21.13M
Diluted EPS
0.09
Operating cash flow
$24.15M
Free cash flow
$-55.75M
Fetching…
Sources
Revenue
$1.63B
Net income
$105.65M
Diluted EPS
0.43
Operating cash flow
$537.61M
Free cash flow
$251.88M
Fetching…
Sources
Revenue
$1.86B
Net income
$122.57M
Diluted EPS
0.49
Operating cash flow
$164.19M
Free cash flow
$-31.33M
Fetching…
Sources
Revenue
$1.46B
Net income
$66.90M
Diluted EPS
0.27
Operating cash flow
$224.76M
Free cash flow
$58.38M
Fetching…
Sources
Is it cheap or expensive?
Fair value $17.70 vs current price $47.95
Wall Street consensus is the average analyst price target: $76.40 (331.6% higher than our fair-value estimate).
Our most-likely fair value is $17.70 a share — about 63.1% below today's price of $47.95, so the stock currently looks expensive (overvalued).
Is it drowning in debt?
Watch
Net debt $161.9M. Interest coverage 6.2x.
Net debt
$161.88M
Interest coverage
6.20x
Amkor Technology, Inc.'s profit covers its interest bill about 6.2 times over. which is stronger than most peers shown here and 2 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Watch
Worse cushion
Baseline
Better cushion
AMKR
BASELINE
Amkor Technology, Inc.
Total debt $2.67B Interest coverage 6.20x This is the baseline the peer rows are being compared against.
Total debt $9.29B Interest coverage 6.89x +11% vs AMKR Has roughly the same debt cushion as AMKR.
Total debt $29.91M Interest coverage 115.35x +1,762% vs AMKR Carries about 18.6x more debt cushion than AMKR.
Total debt $38.12M Interest coverage -293.99x -100% vs AMKR This peer has almost no interest-payment cushion compared with AMKR.
Total debt $100.13M Interest coverage 100.59x +1,524% vs AMKR Carries about 16.2x more debt cushion than AMKR.
Total debt $331.24M Interest coverage -29.03x -100% vs AMKR This peer has almost no interest-payment cushion compared with AMKR.
What you should know
The case for and against AMKR
3 Rewards
2 Risks
Rewards
-
Revenue grew 5.4% last year.
-
Returns 12.5% on equity, ahead of 33% of its peers.
-
Free cash flow was positive in 10/10 years.
Risks
-
Stock trades 15.0% above its 5-year average P/E.
-
Operating margin compressed from 12.7% to 10.5% over 3 years.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
21.50x
Forward P/E
17.09x
P/B
2.56x
P/S
1.60x
EV/EBITDA
8.84x
PEG ratio
0.76x
Profitability
How much profit each dollar creates
Gross margin
15.5%
Operating margin
10.5%
Net margin
7.4%
ROE
12.5%
ROA
4.6%
Health
Liquidity and balance-sheet strength
Debt / equity
0.57x
Current ratio
2.17x
Quick ratio
1.87x
Total debt
$2.67B
Total cash
$2.51B
Growth
How the business has been compounding
Revenue TTM
$7.07B
Revenue 5Y CAGR
2.2%
EPS TTM
2.23
EPS 5Y CAGR
-21.6%
Cash flow
How much cash the business throws off
Operating CF TTM
$1.22B
Free CF TTM
$190.99M
FCF margin
2.7%
Dividend
Shareholder payout
Yield
0.7%
Payout ratio
14.9%
Last ex-div date
2026-09-02