{"slug":"camtek","name":"Camtek","name_en":"Camtek","ticker":"CAMT","updated_at":"2026-07-12T05:00:52.900365+00:00","canonical":"https://valuechain.wiki/camtek","same_as":["https://finance.yahoo.com/quote/CAMT","https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1109138"],"citable":"밸류체인 그래프 기준 Camtek의 직접 연결 기업은 4곳(관계 기준 공급 0·매출 4)이고, 사슬을 2차까지 넓히면 10곳에 닿는다. 링크의 근거 출처는 5건이며 그중 1차공시가 3건이다 (valuechain.wiki, 2026-07-12 기준).","citable_en":"Per the valuechain.wiki graph, Camtek is directly linked to 4 companies (0 supply, 4 revenue relationships) and reaches 10 companies within two hops; the links are backed by 5 dated sources, 3 of them primary filings (as of 2026-07-12).","kicker":"반도체 검사·계측 · HBM·패키징","kicker_en":"Semi inspection & metrology · HBM & packaging","lead":"웨이퍼 광학 검사·계측 장비사로 HBM·어드밴스드 패키징·하이브리드 본딩 검사에 강점을 가진 기업이다. FY2025 매출은 $496.1M(+20%)·4분기 사상 최대 $128.1M·매출총이익률 약 52%로, SK하이닉스·삼성·앰코·ASE 등 250여 고객의 후공정 라인에 공급한다. HBM 적층·칩렛·하이브리드 본딩이 검사 스텝과 난이도를 키우는 구조이며, HBM4 계측에서 전 주요 고객의 tool-of-record를 확보해 2026년 두 자릿수 성장을 전망한다.","lead_en":"Camtek is a wafer optical-inspection and metrology maker strong in HBM, advanced packaging and hybrid-bonding inspection. FY2025 revenue was $496.1M (+20%) with a record Q4 of $128.1M and ~52% gross margin, supplying the back-end lines of 250+ customers such as SK hynix, Samsung, Amkor and ASE. HBM stacking, chiplets and hybrid bonding add inspection steps and difficulty, and securing tool-of-record for HBM4 metrology at all major makers underpins a guided double-digit 2026 growth.","segments":{"fy":2024,"parts":[{"desc":"웨이퍼 광학 검사·계측(단일 사업). HBM·어드밴스드 패키징·하이브리드 본딩이 성장 축으로, Hawk 플랫폼이 HBM4 계측 tool-of-record. 2026년 두 자릿수 성장 전망.","name":"반도체 검사·계측 (HBM·패키징)"}],"total":"FY2025 매출 $496.1M (+20%)·매출총이익률 ~52%·4Q 사상 최대 $128.1M","source":"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=CAMT&type=20-F"},"segments_en":{"parts":[{"desc":"Wafer optical inspection/metrology (single business). HBM, advanced packaging and hybrid bonding are the growth axes; the Hawk platform is tool-of-record for HBM4 metrology. 2026 guided to double-digit growth.","name":"Inspection and metrology (HBM, packaging)"}],"total":"FY2025 revenue $496.1M (+20%); gross margin ~52%; Q4 record $128.1M"},"returns_yearly":{"2021":110.1,"2022":-52.3,"2023":215.9,"2024":18.3,"2025":31.7,"2026":35.2},"return_asof":"2026-07-10","value_chain":{"leading":[{"slug":"dell","name":"Dell","name_en":"Dell Technologies","tier":3,"returns_yearly":{"2021":51.2,"2022":-26.6,"2023":95.9,"2024":53,"2025":11.2,"2026":248.1}},{"slug":"lenovo","name":"Lenovo","name_en":"Lenovo","tier":3,"returns_yearly":{"2021":-4.6,"2022":-20.9,"2023":36.2,"2024":18.2,"2025":-0.6,"2026":175.7}},{"slug":"nebius","name":"Nebius","name_en":"Nebius Group","tier":3,"returns_yearly":{"2025":202.2,"2026":162.4}},{"slug":"hpe","name":"HPE","name_en":"Hewlett Packard Enterprise","tier":3,"returns_yearly":{"2021":37.4,"2022":4.5,"2023":9.7,"2024":29.1,"2025":15.5,"2026":104}},{"slug":"terawulf","name":"TeraWulf","name_en":"TeraWulf","tier":3,"returns_yearly":{"2021":77.1,"2022":-95.5,"2023":258.2,"2024":135.8,"2025":103,"2026":91.2}},{"slug":"datadog","name":"Datadog","name_en":"Datadog","tier":3,"returns_yearly":{"2021":80.9,"2022":-58.7,"2023":65.1,"2024":17.7,"2025":-4.8,"2026":89.4}},{"slug":"lg-electronics","name":"LG전자","name_en":"LG Electronics","tier":3,"returns_yearly":{"2021":-16.2,"2022":-20.9,"2023":-5.8,"2024":-9.5,"2025":19.2,"2026":85.5}},{"slug":"eoptolink","name":"Eoptolink","name_en":"Eoptolink","tier":3,"returns_yearly":{"2021":-10.1,"2022":-27.7,"2023":136.6,"2024":197,"2025":368.8,"2026":74.9}},{"slug":"aurora","name":"Aurora Innovation","name_en":"Aurora Innovation","tier":3,"returns_yearly":{"2022":-89.3,"2023":261.2,"2024":44.2,"2025":-39,"2026":66.1}},{"slug":"kyocera","name":"교세라","name_en":"Kyocera","tier":3,"returns_yearly":{"2021":7.5,"2022":-2.1,"2023":33.8,"2024":-24,"2025":46.7,"2026":63}},{"slug":"crowdstrike","name":"CrowdStrike","name_en":"CrowdStrike","tier":3,"returns_yearly":{"2021":-3.3,"2022":-48.6,"2023":142.5,"2024":34,"2025":37,"2026":59.7}},{"slug":"mercury-systems","name":"Mercury Systems","name_en":"Mercury Systems","tier":3,"returns_yearly":{"2021":-37.5,"2022":-18.7,"2023":-18.3,"2024":14.8,"2025":73.8,"2026":47.9}},{"slug":"asustek","name":"에이수스(ASUS)","name_en":"ASUSTeK Computer","tier":3,"returns_yearly":{"2021":35.5,"2022":-12.9,"2023":72,"2024":41.1,"2025":-14.1,"2026":46.7}},{"slug":"wiwynn","name":"Wiwynn","name_en":"Wiwynn","tier":3,"returns_yearly":{"2021":24.7,"2022":-22.3,"2023":206.4,"2024":3.5,"2025":64.4,"2026":45.1}},{"slug":"illumina","name":"Illumina","name_en":"Illumina","tier":3,"returns_yearly":{"2021":2.8,"2022":-46.9,"2023":-31.1,"2024":-1.3,"2025":-1.8,"2026":45}},{"slug":"gigabyte","name":"기가바이트","name_en":"Gigabyte Technology","tier":3,"returns_yearly":{"2021":82.3,"2022":-3.4,"2023":173.2,"2024":-15.9,"2025":-4.7,"2026":44.4}},{"slug":"arista","name":"Arista Networks","name_en":"Arista Networks","tier":3,"returns_yearly":{"2021":97.9,"2022":-15.6,"2023":94.1,"2024":87.7,"2025":18.5,"2026":42.7}},{"slug":"cloudflare","name":"Cloudflare","name_en":"Cloudflare","tier":3,"returns_yearly":{"2021":73,"2022":-65.6,"2023":84.2,"2024":29.3,"2025":83.1,"2026":36.1}},{"slug":"quanta","name":"Quanta","name_en":"Quanta Computer","tier":3,"returns_yearly":{"2021":22.2,"2022":-12.8,"2023":254.5,"2024":12.7,"2025":8.9,"2026":33.4}},{"slug":"coreweave","name":"CoreWeave","name_en":"CoreWeave","tier":3,"returns_yearly":{"2026":24.1}},{"slug":"sk-telecom","name":"SK텔레콤","name_en":"SK Telecom","tier":3,"returns_yearly":{"2021":7.9,"2022":-12,"2023":15.8,"2024":15.5,"2025":37.5,"2026":23.4}},{"slug":"celestica","name":"Celestica","name_en":"Celestica","tier":3,"returns_yearly":{"2021":37.9,"2022":1.3,"2023":159.8,"2024":215.2,"2025":220.3,"2026":21.7}},{"slug":"snowflake","name":"Snowflake","name_en":"Snowflake","tier":3,"returns_yearly":{"2021":20.4,"2022":-57.6,"2023":38.6,"2024":-22.4,"2025":42.1,"2026":19.2}},{"slug":"geely-auto","name":"지리자동차","name_en":"Geely Auto","tier":3,"returns_yearly":{"2021":-40.8,"2022":-22.9,"2023":-40.3,"2024":98.5,"2025":14.5,"2026":18.9}},{"slug":"apple","name":"Apple","name_en":"Apple","tier":3,"returns_yearly":{"2021":34.6,"2022":-26.4,"2023":49,"2024":30.7,"2025":9.1,"2026":16.2}},{"slug":"wistron","name":"위스트론","name_en":"Wistron","tier":3,"returns_yearly":{"2021":7.9,"2022":9.7,"2023":272.7,"2024":-1.6,"2025":22.7,"2026":14.8}},{"slug":"alphabet","name":"알파벳 (구글)","name_en":"Alphabet (Google)","tier":3,"returns_yearly":{"2021":65.3,"2022":-39.1,"2023":58.3,"2024":36,"2025":66,"2026":14.3}},{"slug":"foxconn","name":"Foxconn","name_en":"Foxconn (Hon Hai)","tier":3,"returns_yearly":{"2021":-5.1,"2022":2.8,"2023":7.8,"2024":80.1,"2025":26.9,"2026":10.9}},{"slug":"iren","name":"IREN","name_en":"IREN","tier":3,"returns_yearly":{"2022":-92.3,"2023":472,"2024":37.3,"2025":284.6,"2026":8.9}},{"slug":"amazon","name":"아마존","name_en":"Amazon","tier":3,"returns_yearly":{"2021":2.4,"2022":-49.6,"2023":80.9,"2024":44.4,"2025":5.2,"2026":6.3}},{"slug":"meta","name":"메타 플랫폼스","name_en":"Meta Platforms","tier":3,"returns_yearly":{"2021":23.1,"2022":-64.2,"2023":194.1,"2024":66,"2025":13.1,"2026":1.6}},{"slug":"tempus-ai","name":"Tempus AI","name_en":"Tempus AI","tier":3,"returns_yearly":{"2025":74.9,"2026":-1.4}},{"slug":"ibm","name":"IBM","name_en":"IBM","tier":3,"returns_yearly":{"2021":16.7,"2022":10.6,"2023":21.8,"2024":39.3,"2025":38.2,"2026":-1.6}},{"slug":"super-micro","name":"Super Micro","name_en":"Super Micro","tier":3,"returns_yearly":{"2021":38.8,"2022":86.8,"2023":246.2,"2024":7.2,"2025":-4,"2026":-3.3}},{"slug":"general-motors","name":"제너럴 모터스","name_en":"General Motors","tier":3,"returns_yearly":{"2021":40.8,"2022":-42.4,"2023":7.9,"2024":49.8,"2025":54.2,"2026":-3.8}},{"slug":"ionq","name":"IonQ","name_en":"IonQ","tier":3,"returns_yearly":{"2022":-79.3,"2023":259.1,"2024":237.1,"2025":7.4,"2026":-4.5}},{"slug":"schrodinger","name":"Schrödinger","name_en":"Schrodinger","tier":3,"returns_yearly":{"2021":-56,"2022":-46.3,"2023":91.5,"2024":-46.1,"2025":-7.3,"2026":-7.8}},{"slug":"hyundai-motor-company","name":"현대차","name_en":"Hyundai Motor Company","tier":3,"returns_yearly":{"2021":-16.7,"2022":-4.7,"2023":16.2,"2024":12.3,"2025":158.8,"2026":-7.8}},{"slug":"uber","name":"Uber","name_en":"Uber","tier":3,"returns_yearly":{"2021":-17.8,"2022":-41,"2023":149,"2024":-2,"2025":35.5,"2026":-8.8}},{"slug":"tesla","name":"Tesla","name_en":"Tesla","tier":3,"returns_yearly":{"2021":49.8,"2022":-65,"2023":101.7,"2024":62.5,"2025":11.4,"2026":-9.3}},{"slug":"recursion","name":"Recursion Pharmaceuticals","name_en":"Recursion Pharmaceuticals","tier":3,"returns_yearly":{"2022":-55,"2023":27.9,"2024":-31.4,"2025":-39.5,"2026":-13}},{"slug":"toyota","name":"Toyota Motor Corporation","name_en":"Toyota Motor Corporation","tier":3,"returns_yearly":{"2021":58.1,"2022":-13.4,"2023":63,"2024":1.8,"2025":21.8,"2026":-18.2}},{"slug":"microsoft","name":"마이크로소프트","name_en":"Microsoft","tier":3,"returns_yearly":{"2021":52.5,"2022":-28,"2023":58.2,"2024":12.9,"2025":15.6,"2026":-20}},{"slug":"alibaba","name":"알리바바","name_en":"Alibaba Group","tier":3,"returns_yearly":{"2021":-49,"2022":-25.8,"2023":-10.8,"2024":11.8,"2025":75.8,"2026":-22.7}},{"slug":"tencent-holdings-limited","name":"텐센트","name_en":"Tencent Holdings Limited","tier":3,"returns_yearly":{"2021":-28.6,"2022":-14.2,"2023":-28.7,"2024":49.8,"2025":52.1,"2026":-23.2}},{"slug":"baidu","name":"바이두","name_en":"Baidu","tier":3,"returns_yearly":{"2022":-8.2,"2023":-23.4,"2024":-13.5,"2025":74.2,"2026":-24.5}},{"slug":"rigetti","name":"Rigetti Computing","name_en":"Rigetti Computing","tier":3,"returns_yearly":{"2022":-92.9,"2023":35.1,"2024":1449.2,"2025":45.2,"2026":-25.3}},{"slug":"xiaomi","name":"샤오미","name_en":"Xiaomi","tier":3,"returns_yearly":{"2021":-43.9,"2022":-21.1,"2023":-4.6,"2024":209.7,"2025":-6.9,"2026":-27.2}},{"slug":"oracle","name":"Oracle","name_en":"Oracle","tier":3,"returns_yearly":{"2021":36.9,"2022":-4.6,"2023":30.9,"2024":60,"2025":18.1,"2026":-27.4}},{"slug":"palantir","name":"Palantir","name_en":"Palantir Technologies","tier":3,"returns_yearly":{"2021":-22.7,"2022":-64.7,"2023":167.4,"2024":340.5,"2025":135,"2026":-28.7}},{"slug":"servicenow","name":"ServiceNow","name_en":"ServiceNow","tier":3,"returns_yearly":{"2021":17.9,"2022":-40.2,"2023":82,"2024":50.1,"2025":-27.7,"2026":-29.7}},{"slug":"kratos","name":"Kratos","name_en":"Kratos Defense","tier":3,"returns_yearly":{"2021":-29.3,"2022":-46.8,"2023":96.6,"2024":30,"2025":187.8,"2026":-36.5}},{"slug":"pony-ai","name":"Pony.ai","name_en":"Pony.ai","tier":3,"returns_yearly":{"2025":1,"2026":-54.6}},{"slug":"openai","name":"OpenAI","name_en":"OpenAI","tier":3,"returns_yearly":null},{"slug":"anthropic","name":"Anthropic","name_en":"Anthropic","tier":3,"returns_yearly":null},{"slug":"marvell","name":"Marvell","name_en":"Marvell","tier":2,"returns_yearly":{"2021":84.6,"2022":-57.5,"2023":63.7,"2024":83.8,"2025":-22.8,"2026":177.8}},{"slug":"amd","name":"AMD","name_en":"AMD","tier":2,"returns_yearly":{"2021":56.9,"2022":-55,"2023":127.6,"2024":-18.1,"2025":77.3,"2026":160.5}},{"slug":"pure-storage","name":"에버퓨어 (구 퓨어스토리지)","name_en":"Everpure (formerly Pure Storage)","tier":2,"returns_yearly":{"2021":44,"2022":-17.8,"2023":33.3,"2024":72.3,"2025":9.1,"2026":18.4}},{"slug":"broadcom","name":"Broadcom","name_en":"Broadcom","tier":2,"returns_yearly":{"2021":56.5,"2022":-13.3,"2023":104.2,"2024":110.5,"2025":50.6,"2026":16}},{"slug":"nvidia","name":"NVIDIA","name_en":"NVIDIA","tier":2,"returns_yearly":{"2021":125.5,"2022":-50.3,"2023":239,"2024":171.2,"2025":38.9,"2026":13.3}},{"slug":"qualcomm","name":"Qualcomm","name_en":"Qualcomm","tier":2,"returns_yearly":{"2021":22.3,"2022":-38.6,"2023":35.1,"2024":8.3,"2025":13.8,"2026":11.7}},{"slug":"ase","name":"ASE테크놀로지","name_en":"ASE Technology","tier":1,"returns_yearly":{"2021":38.3,"2022":-12.8,"2023":60.9,"2024":10.1,"2025":65.6,"2026":167.6}},{"slug":"sk-hynix","name":"SK하이닉스","name_en":"SK hynix","tier":1,"returns_yearly":{"2021":-0.4,"2022":-25.6,"2023":53.9,"2024":48.6,"2025":361.1,"2026":140.3}},{"slug":"amkor","name":"앰코테크놀로지","name_en":"Amkor Technology","tier":1,"returns_yearly":{"2021":65.6,"2022":-2.3,"2023":40.3,"2024":-20.8,"2025":55.9,"2026":79}},{"slug":"samsung-electronics","name":"삼성전자","name_en":"Samsung Electronics","tier":1,"returns_yearly":{"2021":-9,"2022":-14.2,"2023":20.9,"2024":-26.4,"2025":212.9,"2026":77.9}}],"benefiting":[],"analysis":"캠텍의 논점은 'AI 메모리 복잡도가 검사 스텝을 늘리는 과점 수혜'다. HBM 적층·칩렛·하이브리드 본딩처럼 패키징이 복잡해질수록 광학 검사·계측 스텝과 난이도가 커지는데, 캠텍은 HBM4 계측에서 전 주요 고객 tool-of-record를 쥐어 세대전환마다 콘텐츠가 늘어난다 — FY2025 매출 +20%($496.1M)·매출총이익률 52%가 그 결과다. 고객이 SK하이닉스·삼성·앰코·ASE로 첨단 패키징에 집중돼 이들 HBM·후공정 capex에 직결되고, 2026년 두 자릿수 성장을 가이드했다. 리스크는 메모리·후공정 capex 사이클과 고객 집중. 그래프 파급: SK하이닉스·삼성 HBM 증설과 앰코·ASE 첨단 패키징 물량이 검사 수요를 끈다.","analysis_en":"Camtek's thesis is oligopoly leverage as AI-memory complexity adds inspection steps. As packaging grows more complex — HBM stacking, chiplets, hybrid bonding — optical-inspection and metrology steps and difficulty rise, and holding tool-of-record for HBM4 metrology at all major makers means content grows each generation, as FY2025 revenue +20% ($496.1M) and 52% gross margin show. Customer concentration on SK hynix, Samsung, Amkor and ASE ties it directly to their HBM and back-end capex, with 2026 guided to double-digit growth. Risks are the memory/back-end capex cycle and customer concentration. Graph propagation: HBM expansion at SK hynix and Samsung and advanced-packaging volume at Amkor and ASE pull inspection demand.","analysis_asof":"2026-07-10"},"edges":[{"direction":"revenue","counterparty":"SK하이닉스","counterparty_slug":"sk-hynix","confidence":"high","metric":{"yoy_pct":20,"revenue_usd_m":496.1,"gross_margin_pct":52},"note":"HBM 선두 SK하이닉스에 검사·계측 장비를 공급 — HBM 적층 수가 늘수록 층별 검사 스텝이 증가해 채택이 확대되는 최대 성장 수요처.","note_en":"Supplies inspection and metrology to HBM leader SK hynix — as HBM stack counts rise, per-layer inspection steps increase and adoption expands; the top growth demand source.","sources":[{"stance":"mentions","publisher":"애널리스트 컨센서스","publisher_en":"Analyst consensus","kind":"research","lang":"en","published_at":"2026-02-05","url":"https://www.marketbeat.com/stocks/NASDAQ/CAMT/forecast/","title":"캠텍(CAMT) 애널리스트 컨센서스 — HBM 검사 성장에 매수 우위, 2026 두 자릿수 성장 전망","title_en":"Camtek (CAMT) analyst consensus — Buy-tilted on HBM-inspection growth; 2026 double-digit growth outlook","excerpt":"컨센서스 매수 우위 — HBM4 tool-of-record·2026 두 자릿수 성장 전망.","excerpt_en":"Buy-tilted consensus — HBM4 tool-of-record and 2026 double-digit growth outlook."},{"stance":"confirms","publisher":"미국 SEC(캠텍)","publisher_en":"SEC / Camtek","kind":"filing","lang":"en","published_at":"2026-02-01","url":"https://www.sec.gov/Archives/edgar/data/1109138/000117891326000549/zk2634405.htm","title":"캠텍 FY2025 실적 발표(SEC Form 6-K)","title_en":"Camtek FY2025 results (SEC Form 6-K)","excerpt":"FY2025 매출 $496.1M(+20%)·4Q 사상 최대 $128.1M·매출총이익률 ~52%. HBM4 계측 전 주요 고객서 tool-of-record.","excerpt_en":"FY2025 revenue $496.1M (+20%); Q4 record $128.1M; gross margin ~52%. Tool-of-record for HBM4 metrology at all major makers."},{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2025-03-01","url":"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=CAMT&type=20-F","title":"Camtek 연차보고서","title_en":"Camtek annual report (SEC)","excerpt":"SK하이닉스에 검사·계측 장비 공급.","excerpt_en":"Supplies inspection and metrology tools to SK hynix."},{"stance":"confirms","publisher":"디일렉","publisher_en":"TheElec","kind":"news","lang":"ko","published_at":"2025-01-01","url":"https://www.thelec.kr/news/articleView.html?idxno=31137","title":"캠텍, HBM 16단 테스터 한국 공개","title_en":"Camtek unveils HBM 16-hi tester in Korea","excerpt":"SK하이닉스에 검사·계측 장비 공급.","excerpt_en":"Supplies inspection and metrology tools to SK hynix."}]},{"direction":"revenue","counterparty":"ASE테크놀로지","counterparty_slug":"ase","confidence":"mid","metric":null,"note":"세계 최대 OSAT ASE에 검사·계측 장비를 공급 — 어드밴스드 패키징(FC·팬아웃) 물량이 곧 검사 수요다. OSAT 후공정 증설에 캠텍 매출이 직결된다.","note_en":"Supplies inspection and metrology to the world's largest OSAT, ASE — advanced-packaging (flip-chip, fan-out) volume is inspection demand; OSAT back-end expansion drives Camtek revenue directly.","sources":[{"stance":"mentions","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-03-01","url":"https://www.sec.gov/Archives/edgar/data/0001109138/000117891326001561/zk2634678.htm","title":"Camtek 20-F FY2025","title_en":"Camtek 20-F FY2025","excerpt":"20-F 고객 집중도(익명): 2024년 3개 고객이 각 15%·10%·10%, 2025년 최대 고객 11%. HBM 검사 수요기의 집중이 2025년 완화.","excerpt_en":"20-F customer concentration (anonymized): three customers at 15%/10%/10% in 2024; largest customer 11% in 2025 as HBM-era concentration eased."},{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2025-03-01","url":"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=CAMT&type=20-F","title":"Camtek 연차보고서","title_en":"Camtek annual report (SEC)","excerpt":"ASE테크놀로지에 검사·계측 장비 공급.","excerpt_en":"Supplies inspection and metrology tools to ASE Technology."},{"stance":"confirms","publisher":"디일렉","publisher_en":"TheElec","kind":"news","lang":"ko","published_at":"2025-01-01","url":"https://www.thelec.kr/news/articleView.html?idxno=31137","title":"캠텍, HBM 16단 테스터 한국 공개","title_en":"Camtek unveils HBM 16-hi tester in Korea","excerpt":"ASE테크놀로지에 검사·계측 장비 공급.","excerpt_en":"Supplies inspection and metrology tools to ASE Technology."}]},{"direction":"revenue","counterparty":"삼성전자","counterparty_slug":"samsung-electronics","confidence":"mid","metric":null,"note":"삼성전자 메모리·패키징 라인에 검사·계측 장비를 공급. HBM 적층·하이브리드 본딩 미세화가 검사 정밀도·스텝을 늘려 장비 채택을 키운다.","note_en":"Supplies inspection and metrology to Samsung's memory and packaging lines — HBM stacking and hybrid-bonding scaling raise inspection precision and steps, growing tool adoption.","sources":[{"stance":"mentions","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-03-01","url":"https://www.sec.gov/Archives/edgar/data/0001109138/000117891326001561/zk2634678.htm","title":"Camtek 20-F FY2025","title_en":"Camtek 20-F FY2025","excerpt":"20-F 고객 집중도(익명): 2024년 3개 고객이 각 15%·10%·10%, 2025년 최대 고객 11%. HBM 검사 수요기의 집중이 2025년 완화.","excerpt_en":"20-F customer concentration (anonymized): three customers at 15%/10%/10% in 2024; largest customer 11% in 2025 as HBM-era concentration eased."},{"stance":"confirms","publisher":"미국 SEC(캠텍)","publisher_en":"SEC / Camtek","kind":"filing","lang":"en","published_at":"2026-02-01","url":"https://www.sec.gov/Archives/edgar/data/1109138/000117891326000549/zk2634405.htm","title":"캠텍 FY2025 실적 발표(SEC Form 6-K)","title_en":"Camtek FY2025 results (SEC Form 6-K)","excerpt":"HBM·첨단 패키징 검사 수요로 삼성 등 후공정 라인에 광학 검사·계측 확대.","excerpt_en":"HBM/advanced-packaging inspection demand expanded optical inspection/metrology at Samsung and others."},{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2025-03-01","url":"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=CAMT&type=20-F","title":"Camtek 연차보고서","title_en":"Camtek annual report (SEC)","excerpt":"삼성전자에 검사·계측 장비 공급.","excerpt_en":"Supplies inspection and metrology tools to Samsung Electronics."},{"stance":"confirms","publisher":"디일렉","publisher_en":"TheElec","kind":"news","lang":"ko","published_at":"2025-01-01","url":"https://www.thelec.kr/news/articleView.html?idxno=31137","title":"캠텍, HBM 16단 테스터 한국 공개","title_en":"Camtek unveils HBM 16-hi tester in Korea","excerpt":"삼성전자에 검사·계측 장비 공급.","excerpt_en":"Supplies inspection and metrology tools to Samsung Electronics."}]},{"direction":"revenue","counterparty":"앰코테크놀로지","counterparty_slug":"amkor","confidence":"mid","metric":null,"note":"OSAT 앰코테크놀로지에 검사·계측 장비를 공급 — 첨단 패키징 위탁 물량에 연동된 매출로, OSAT 캐펙스 사이클을 타는 수요선.","note_en":"Supplies inspection and metrology to OSAT Amkor Technology — revenue linked to outsourced advanced-packaging volume, riding the OSAT capex cycle.","sources":[{"stance":"mentions","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2026-03-01","url":"https://www.sec.gov/Archives/edgar/data/0001109138/000117891326001561/zk2634678.htm","title":"Camtek 20-F FY2025","title_en":"Camtek 20-F FY2025","excerpt":"20-F 고객 집중도(익명): 2024년 3개 고객이 각 15%·10%·10%, 2025년 최대 고객 11%. HBM 검사 수요기의 집중이 2025년 완화.","excerpt_en":"20-F customer concentration (anonymized): three customers at 15%/10%/10% in 2024; largest customer 11% in 2025 as HBM-era concentration eased."},{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2025-03-01","url":"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=CAMT&type=20-F","title":"Camtek 연차보고서","title_en":"Camtek annual report (SEC)","excerpt":"앰코테크놀로지에 검사·계측 장비 공급.","excerpt_en":"Supplies inspection and metrology tools to Amkor Technology."},{"stance":"confirms","publisher":"디일렉","publisher_en":"TheElec","kind":"news","lang":"ko","published_at":"2025-01-01","url":"https://www.thelec.kr/news/articleView.html?idxno=31137","title":"캠텍, HBM 16단 테스터 한국 공개","title_en":"Camtek unveils HBM 16-hi tester in Korea","excerpt":"앰코테크놀로지에 검사·계측 장비 공급.","excerpt_en":"Supplies inspection and metrology tools to Amkor Technology."}]},{"direction":"cost","counterparty":"설비·인프라 (비공개)","counterparty_slug":null,"confidence":"low","metric":{"type":"qualifier","value":null,"qualifier":"confirmed_no_disclosed_value"},"note":"장비 조립·클린룸 등 생산 설비·인프라 투자. 검사 장비 수요 램프에 맞춘 캐파 확충이 리드타임·납기를 좌우한다(비공개).","note_en":"Capex in assembly and cleanroom production facilities/infrastructure — capacity build-out matched to inspection-tool demand governs lead times and delivery (undisclosed).","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2025-03-01","url":"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=CAMT&type=20-F","title":"Camtek 연차보고서","title_en":"Camtek annual report (SEC)","excerpt":"생산 설비·인프라 투자(비공개).","excerpt_en":"Production equipment and infrastructure (undisclosed)."}]},{"direction":"cost","counterparty":"부품·소재·R&D (비공개)","counterparty_slug":null,"confidence":"low","metric":{"type":"qualifier","value":null,"qualifier":"confirmed_no_disclosed_value"},"note":"광학·정밀부품·소재와 R&D가 원가의 축. 검사 해상도·속도를 결정하는 광학·알고리즘 기술이 곧 제품 경쟁력이라 R&D가 해자 유지 비용이다(비공개).","note_en":"Optics, precision parts/materials and R&D are the cost core — the optical and algorithmic technology setting inspection resolution and speed is the product's competitiveness, so R&D is the cost of maintaining the moat (undisclosed).","sources":[{"stance":"confirms","publisher":"SEC EDGAR","publisher_en":"SEC EDGAR","kind":"filing","lang":"en","published_at":"2025-03-01","url":"https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=CAMT&type=20-F","title":"Camtek 연차보고서","title_en":"Camtek annual report (SEC)","excerpt":"검사·계측 장비 제조용 부품·소재·R&D(비공개).","excerpt_en":"Parts, materials and R&D (undisclosed)."}]}]}