Latest update
$213
Updated: Jun 17, 2026, 2:18 PM UTC
Browsing public data
ATS.VI is a manufacturer of advanced printed circuit boards and integrated circuit substrates, critical components for various high-tech industries including semiconductors, communications, consumer electronics, and automotive. The company operates globally across three segments: Electronics Solutions, Microelectronics, and Others. Despite exhibiting strong revenue growth year-over-year, profitability remains weak, and the balance sheet carries significant debt. The stock has seen a substantial price surge, far outstripping underlying business performance and valuations.
Revenue
The total dollars the company billed customers. When this number grows quarter after quarter, the business is finding more demand.
Latest
↑$467.7M
Q4 2025
The most recent reported figure, in the company's own currency and reporting cadence.
QoQ
↑+17.2%
vs Q2 2025
How much this quarter grew compared to last quarter. Useful for spotting acceleration or slowdown in real time.
YoY
→+3.8%
vs Q3 2024
How much this quarter grew compared to the same quarter one year ago. Strips out seasonality — a slow holiday quarter looks worse QoQ but normal YoY.
CAGR
•—
insufficient history
The smooth yearly growth rate that gets you from the starting value to the current value. A 100% CAGR over 3 years means the business tripled, on average, each year.
Net income
What's left from revenue after paying every cost — employees, materials, taxes, interest. Sometimes called profit or 'the bottom line.'
Latest
↑$24.2M
Q4 2025
The most recent reported figure, in the company's own currency and reporting cadence.
QoQ
•—
vs Q2 2025
How much this quarter grew compared to last quarter. Useful for spotting acceleration or slowdown in real time.
YoY
•—
vs Q3 2024
How much this quarter grew compared to the same quarter one year ago. Strips out seasonality — a slow holiday quarter looks worse QoQ but normal YoY.
CAGR
•—
insufficient history
The smooth yearly growth rate that gets you from the starting value to the current value. A 100% CAGR over 3 years means the business tripled, on average, each year.
Free cash flow
The cash actually left in the bank after the company has paid for everything and reinvested in itself. Harder to fake than net income.
Latest
↓$91.7M
Q4 2025
The most recent reported figure, in the company's own currency and reporting cadence.
QoQ
↓-29.5%
vs Q2 2025
How much this quarter grew compared to last quarter. Useful for spotting acceleration or slowdown in real time.
YoY
•—
vs Q3 2024
How much this quarter grew compared to the same quarter one year ago. Strips out seasonality — a slow holiday quarter looks worse QoQ but normal YoY.
CAGR
•—
insufficient history
The smooth yearly growth rate that gets you from the starting value to the current value. A 100% CAGR over 3 years means the business tripled, on average, each year.
| Metric | 3 yr | 2 yr | 1 yr |
|---|---|---|---|
| Revenue | — | — | +17.9% $396.8M→$467.7M |
| Net income | — | — | -93.3% $185M→$24.2M |
| Free cash flow | — | — | — |
P/E TTM
↑64.6×
Trailing twelve months. Today's price divided by the last year of actual earnings.
P/E NTM
↑31.8×
Next twelve months. Today's price divided by what analysts expect the company to earn over the coming year.
Profitability
↓Weak
Operating margin (and the wider return profile) tells you how efficiently each dollar of sales becomes profit. High and rising = pricing power; low or falling = the business is grinding.
Share count
→Stable
Are the buybacks outrunning the stock-based comp? A shrinking share count means every existing share owns a bigger slice of future earnings.
Debt load
↓Heavy
Total debt against cash and earnings power (EBITDA). Light debt leaves room to invest and weather downturns; heavy debt shrinks the margin for error.
Debt service
→Mixed
Whether the cash the business generates easily covers its interest and loan payments. Strong here = no forced selling in a bad year.
Cash return at today's price
→4.4%
Free cash flow divided by market cap — the cash yield you're getting for the price you pay. Above ~6% is rich, below ~3% is thin. P/E shown when the yield is too small to be useful.
ATS.VI has entered an unsustainable parabolic rally, massively extended beyond its underlying trend and fundamental valuations. Despite expanding volume, indicating a frenzy, the sheer overextension and weak underlying profitability coupled with heavy debt suggest this move is due for a significant correction. The risk of holding or entering here is extremely high as the price has entirely disconnected from current and projected earnings power.
Short-term thesis
ATS.VI benefits from its critical role as a supplier of advanced substrates for AI accelerators, creating a secular demand tailwind. However, the current stock price has dramatically outpaced the company's mixed fundamental performance, weak profitability, and heavy debt load. While the long-term demand for its products remains strong, the extreme valuation and technical overextension make the stock highly vulnerable to a sharp correction. This is a tactical SELL due to unsustainable price action, despite the underlying demand for its products.
Long-term exposure
Avoid
The business or valuation backdrop is not ready for long-term conviction.
Entry window
Trim / avoid
The stock is in a vertical ascent, highly extended from its underlying trend. While volume has increased, indicating intense buying, this parabolic move often precedes sharp corrections. The valuation is stretched, and the fundamental picture does not support this extreme price action, posing a significant risk for new or existing positions.
Risk check
Fragile
The downside can widen quickly if this setup goes wrong.
Alignment
Aligned
The weekly weakness matches a poor long-term backdrop.
What supports it
What limits it
Long-term thesis
ATS.VI is a critical bottleneck in the demand for advanced packaging substrates (e.g., ABF) required for high-performance computing, specifically AI accelerators. As AI chip complexity and size increase, the need for high-layer count substrates will create scarcity and ensure pricing power for specialized manufacturers.
Bottleneck Role
ATS.VI plays a load-bearing role as a key supplier of advanced substrates, particularly high-layer count ABF, which are essential for 2.5D/3D packaging of next-generation AI accelerators. This technology is a critical constraint for larger, more powerful AI chips from companies like NVIDIA and Intel, making ATS.VI a gatekeeper to increased AI computing capacity.
Consensus Blind Spot
The consensus acknowledges the AI boom but may underestimate the specific and acute bottleneck in advanced substrate packaging capacity. Many focus on chip designers or foundries, overlooking the specialized materials and manufacturing processes that enable these advanced chips. The sheer scale of future AI demand could stress this niche much faster and more profoundly than anticipated.
Demand Gap
There is a significant and growing demand gap for specialized, high-performance substrates required for AI chip packaging. Current manufacturing capacity, particularly for very high-layer count ABF, is insufficient to meet projected exponential growth in AI accelerator demand over the next 3-5 years, leading to a structural supply deficit.
Demand to Equity Scenarios
Slower AI adoption, increased competition, or technological shift away from current packaging methods.
Demand
-20%
Earnings
-30%
Equity implication
-50%
Reduced utilization rates, pricing pressure, increased CapEx write-downs.
Continued strong growth in AI demand, maintaining current market leadership and technology relevance.
Demand
+15%
Earnings
+10%
Equity implication
+15%
Consistent high utilization, stable ASPs, incremental capacity expansion.
Exponential acceleration in AI training/inference, severe substrate shortage, leading to significant pricing power and market share gains.
Demand
+30%
Earnings
+25%
Equity implication
+40%
Maxed-out utilization, material ASP increases, significant positive earnings revisions due to scarcity.
Dependency Chain
Repricing Triggers
Must be true
Thesis broken if
What changed
Signal
Conviction
Long term
Stock
Added since last run
7No longer flagged
0Nothing dropped this run
The prior call to SELL was ultimately incorrect as the stock continued its upward parabolic move. The reasoning about high volatility and struggle to find new buyers was accurate in spirit, but the intensity of the upside surprise completely overwhelmed the expectation of a peak.
Jun 17, 2026
LatestUpdated Jun 17, 2026, 2:18 PM UTC
Price at review
$213
The stock is in a vertical ascent, highly extended from its underlying trend. While volume has increased, indicating intense buying, this parabolic move often precedes sharp corrections. The valuation is stretched, and the fundamental picture does not support this extreme price action, posing a significant risk for new or existing positions.
Jun 9, 2026
Updated Jun 9, 2026, 1:16 PM UTC
Price at review
$146
Expect high volatility as the price struggles to find new buyers at these levels.
Jun 2, 2026
Updated Jun 2, 2026, 9:00 AM UTC
Price at review
$143
The rally is showing signs of extreme fatigue as buying volume fades while the price hits new highs.
May 13, 2026
Updated May 13, 2026, 5:39 PM UTC
Price at review
$102
The short-term setup is extremely overextended and lacks fresh buying power. Expect a significant cooling-off period as the current rally exhausts itself.
May 2, 2026
Updated May 2, 2026, 11:55 AM UTC
Price at review
$93.80
The short-term setup remains risky despite the bounce. Price is still 18.6% above the daily average with no proper consolidation, and volume expansion on the rebound could indicate distribution rather than renewed accumulation. The path of least resistance still favors a deeper pullback before a healthier advance can resume.
Jan 21, 1970
Updated Apr 27, 2026, 5:34 PM UTC
Price at review
$91.90
Parabolic advance showing first meaningful crack with -5.74% single-day decline after rejecting near $98 resistance. Stock remains 22% above daily 21 EMA with no proper consolidation, raising probability of sharper mean reversion before May 21 earnings.