Added to YB: 2026-05-25
Pitch date: 2026-05-21
ATS.VI [neutral]
AT & S Austria Technologie & Systemtechnik Aktiengesellschaft
Author Info
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Company Info
AT & S Austria Technologie & Systemtechnik Aktiengesellschaft, together with its subsidiaries, manufactures, distributes, and sells printed circuit boards in Austria, Germany, rest of Europe, China, rest of Asia, and the Americas.
Market Cap
EUR 5.1B
Pitch Price
N/A
Price Target
N/A
Dividend
N/A
EV/EBITDA
9.52
P/E
39.63
EV/Sales
3.75
Sector
Electronic Equipment, Instruments and Components
Category
growth
AT&S AG (ATS Austria): AI demand keeps the cycle hot, but valuation has moved even faster
ATS.VI (update): Q4 rev €477M (+21% YoY, +33% FX-adj), FY26 €1,791M vs €1.7B guide. EBITDA €418M at 23.3% margin. FY27 guide: 30-35% rev growth, 25-29% EBITDA margin. AI/ABF substrate demand driving tight supply. Chongqing expansion backed by long-term deals, €400M capex (vs €288M est). Evaluating €500M hybrid/convertible bonds. Stock +170% post-last results, now 31x 2027 EBIT—stretched vs cycle risk.
Read full article (2 min)