AIXTRON AIXA.DE
GermanyTechnology · Semiconductor Equipment & MaterialsXetra · EUR
48.74 EUR (+28.1%)
15 analysts
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AIXTRON SE is a German manufacturer of atomic layer deposition and epitaxy equipment, used in the production of compound semiconductors for power electronics, optoelectronics, and communications applications.
Listed on Xetra · Symbol AIXA.DE · ETR: AIXA · Currency EUR
Key points
from its scores- ✓Good share-price trend9.8
- ✓Very solid balance sheet7.9
- ✓Favourable backdrop7.0
- ✕Weak growth1.6
- ✕Demanding valuation3.3
AI analysis
bottom line, main risk, context and newsThe solid cash position and positive momentum do not offset the high valuation and current revenue decline, although the forward P/E suggests recovery expectations.
AIXTRON shows solid financial health with net cash (Net Debt/EBITDA of -5.41) and strong momentum (9.8), but its valuation is demanding (P/E of 73.17) and growth is negative (revenue -16.20%), limiting its appeal despite the expected improvement in forward P/E (27.83).
The main risk is dependence on the semiconductor investment cycle: a prolonged downturn in demand for epitaxy equipment could extend the revenue contraction and fail to justify the current high multiple.
Context and risks
AIXTRON, domiciled in Germany, operates in the semiconductor equipment sector, an area under regulatory scrutiny due to dual-use technology export controls. Although there are no known open litigations, exposure to a changing regulatory framework in semiconductors justifies a moderate adjustment to the base risk.
Is AIXTRON stock cheap or expensive?
at the analysis dateOn P/E and EV / EBITDA, it trades 126% above the Technology median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 73.2 | 31.3 | +134% |
| EV / EBITDA | 44.5 | 20.4 | +118% |
| Price / book | 4.3 | 6.3 | −31% |
| Price / sales | 8.9 | 5.3 | +69% |
Sector: median of the 283 Technology companies analysed. In bold, the multiples used for the comparison.
Valuation score: 3.3 out of 10 (median for Technology: 5.3).
Average analyst target: 48.74 EUR, +28.1% versus the price.
A premium can be justified if the company is of higher quality or grows faster than its sector: Quality / Moat 5.0 (sector 6.4), Growth 1.6 (sector 7.5).
Classic formulas with standard assumptions (10.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Technology medianValuation
- P/E
- 73.2
- Forward P/E
- 27.8
- EV / EBITDA
- 44.5
- Price / book
- 4.3
- Price / sales
- 8.9
- PEG
- 2.08
- Market cap
- 4.3B EUR
- Enterprise value
- 3.8B EUR
Profitability
- ROE
- 6.3%
- ROA
- 3.3%
- ROIC (approx.)
- 4.6%
- Gross margin
- 39.5%
- Operating margin
- 12.8%
- Net margin
- 12.1%
- Free cash flow
- 254.8M EUR
- FCF yield
- 5.9%
- Cash conversion
- 297%
Solvency
- Total debt
- 351.7M EUR
- Net debt
- −464.4M EUR
- Cash
- 816.2M EUR
- EBITDA
- 85.9M EUR
- Net debt / EBITDA
- −5.41
- Debt / equity
- 35.43
- Current ratio
- 4.43
- Quick ratio
- 3.14
Growth
- Revenue growth
- −16.2%
- Earnings growth
- −5.6%
- EPS (TTM)
- 0.52 EUR
- EPS (forward)
- 1.37 EUR
Dividend
- Dividend yield
- 0.4%
- Payout
- 28.8%
Risk and market
- Beta
- 0.81
- Analyst consensus
- Buy (15)
- Target price
- 48.74 EUR
- 52-week range
- 11.68 – 62.66
Recent news
All AIXA.DE news →Compare it with its sector
All 283 in Technology →Frequently asked questions about AIXTRON
Is AIXTRON stock cheap or expensive?
On P/E and EV / EBITDA, it trades 126% above the Technology median on average. Valuation score: 3.3 out of 10 (median for Technology: 5.3). Average analyst target: 48.74 EUR, +28.1% versus the price. This is not investment advice.
What score does AIXTRON get on MeridIAn Screener?
It scores 5.1 out of 10, rank 1,624 of 2,130 (better than 21% of the companies analysed). Its strongest category is Momentum (9.8) and its weakest, Growth (1.6). Analysis of 08/10/2026.
What is AIXTRON's P/E ratio?
Its P/E is 73.2: the share price equals 73.2 times earnings per share over the last 12 months. The Technology median is 31.3. Based on the earnings analysts expect, the forward P/E is 27.8.
How much is AIXTRON worth on the stock market?
Its market capitalisation is 4.3B EUR and its enterprise value, debt included, is 3.8B EUR.
How much debt does AIXTRON have?
It has more cash than debt: net cash of 464.4M EUR.
Does AIXTRON pay a dividend?
Yes: its dividend yield is 0.39% and it pays out 29% of its earnings.
How has AIXTRON stock performed over the last year?
It has risen 193.6% over the last year, excluding dividends. Over the last 52 weeks it has traded between 11.68 and 62.66 EUR. Past performance does not guarantee future results.
What do analysts think of AIXTRON?
15 analysts cover it; their average recommendation is “Buy” and their average target is 48.74 EUR (+28.1% versus the price). It is an estimate, not market data.