AXT AXTI
United StatesTechnology · Semiconductor Equipment & MaterialsUSD
91.60 USD (+14.8%)
5 analysts
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AXT Inc designs and manufactures compound semiconductor substrates (gallium arsenide, indium phosphide, and germanium) sold to chipmakers for optical communications, LED lighting, and high-frequency electronics applications.
Key points
from its scores- ✓Strong growth10.0
- ✓Good share-price trend9.8
- ✓Very solid balance sheet8.3
- ✕Demanding valuation1.4
- ✕Little or no dividend1.5
AI analysis
bottom line, main risk, context and newsHold only for investors with high risk tolerance and a long horizon; the current valuation offers no margin of safety.
AXT shows exceptional revenue growth of 164.8% and very strong momentum (1507.2% in 12 months), but its valuation is extremely demanding (P/E 1994.75, EV/EBITDA 362.48) and its return on equity is minimal (ROE 1.01%), suggesting the market is discounting future growth not yet reflected in earnings.
The extreme valuation (P/E 1994.75, EV/EBITDA 362.48) leaves the stock highly exposed to any disappointment in growth execution, especially if the semiconductor cycle cools or cash conversion does not improve (currently -330.29%).
Context and risks
No recent relevant news. The macro context (rising US rates, strong dollar) does not materially affect AXT Inc: its semiconductor substrate business does not depend on commodities or conflict maritime routes, and its net cash balance sheet shields it from financial tightening.
Is AXT stock cheap or expensive?
at the analysis dateOn EV / EBITDA, it trades 1,676% above the Technology median.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| EV / EBITDA | 362.5 | 20.4 | +1,676% |
| Price / book | 5.8 | 6.3 | −8% |
| Price / sales | 41.7 | 5.3 | +690% |
Sector: median of the 283 Technology companies analysed. In bold, the multiples used for the comparison.
Valuation score: 1.4 out of 10 (median for Technology: 5.3).
Average analyst target: 91.60 USD, +14.8% versus the price.
A premium can be justified if the company is of higher quality or grows faster than its sector: Quality / Moat 2.1 (sector 6.4), Growth 10.0 (sector 7.5).
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
- 1,994.8
- Forward P/E
- 35.5
- EV / EBITDA
- 362.5
- Price / book
- 5.8
- Price / sales
- 41.7
- PEG
- 12.09
- Market cap
- 5.2B USD
- Enterprise value
- 4.9B USD
Profitability
- ROE
- 1.0%
- ROA
- 0.3%
- ROIC (approx.)
- 2.7%
- Gross margin
- 32.2%
- Operating margin
- 21.9%
- Net margin
- 3.2%
- Free cash flow
- −44.4M USD
- FCF yield
- −0.8%
- Cash conversion
- −330%
Solvency
- Total debt
- 101.5M USD
- Net debt
- −315.7M USD
- Cash
- 417.2M USD
- EBITDA
- 13.4M USD
- Net debt / EBITDA
- −23.47
- Debt / equity
- 10.67
- Current ratio
- 4.76
- Quick ratio
- 3.61
Growth
- Revenue growth
- +164.8%
- EPS (TTM)
- 0.04 USD
- EPS (forward)
- 2.25 USD
Dividend
- Dividend yield
- 0.0%
- Payout
- 0.0%
Risk and market
- Beta
- 1.86
- Analyst consensus
- none (5)
- Target price
- 91.60 USD
- 52-week range
- 4.00 – 143.16
Recent news
All AXTI news →Compare it with its sector
All 283 in Technology →Frequently asked questions about AXT
Is AXT stock cheap or expensive?
On EV / EBITDA, it trades 1,676% above the Technology median. Valuation score: 1.4 out of 10 (median for Technology: 5.3). Average analyst target: 91.60 USD, +14.8% versus the price. This is not investment advice.
What score does AXT get on MeridIAn Screener?
It scores 4.7 out of 10, rank 1,802 of 2,130 (better than 14% of the companies analysed). Its strongest category is Growth (10.0) and its weakest, Valuation (1.4). Analysis of 08/10/2026.
How much is AXT worth on the stock market?
Its market capitalisation is 5.2B USD and its enterprise value, debt included, is 4.9B USD.
How much debt does AXT have?
It has more cash than debt: net cash of 315.7M USD.
Does AXT pay a dividend?
It pays no dividend, or almost none.
How has AXT stock performed over the last year?
It has risen 1,879.9% over the last year, excluding dividends. Over the last 52 weeks it has traded between 4.00 and 143.16 USD. Past performance does not guarantee future results.
What do analysts think of AXT?
5 analysts cover it; their average recommendation is “none” and their average target is 91.60 USD (+14.8% versus the price). It is an estimate, not market data.