Siltronic WAF.DE
GermanyTechnology · SemiconductorsXetra · EUR
96.00 EUR (+14.4%)
10 analysts
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Siltronic AG is a German manufacturer of high-purity silicon wafers, an essential component for semiconductor manufacturing, which it sells to chipmakers worldwide.
Listed on Xetra · Symbol WAF.DE · ETR: WAF · Currency EUR
Key points
from its scores- ✕Little competitive advantage0.7
- ✕Weak growth2.9
- ✕Unfavourable risk and backdrop3.5
AI analysis
bottom line, main risk, context and newsFinancial weakness and demanding valuation do not compensate for positive momentum. Wait for a tangible improvement in margins and a reduction in debt before considering an entry.
Siltronic presents a very weak financial profile: negative margins (operating margin of -16.14%), negative returns (ROE of -10.44%) and high leverage (Net Debt/EBITDA of 3.18). Although momentum is positive (39.31% over 12 months), fundamentals do not support it and the valuation (EV/EBITDA of 13.76) seems demanding for a company with these metrics.
The main risk is its high leverage (Net Debt/EBITDA of 3.18) combined with negative operating margins (-16.14%), leaving it highly exposed to a rising interest rate environment and any further weakness in semiconductor demand.
Context and risks
Siltronic, a German manufacturer of silicon wafers, operates in a cyclical and high-capex sector. Its weak margins and high leverage (Net Debt/EBITDA of 3.18) make it vulnerable to a rising interest rate environment in Europe, where the ECB is hiking rates, increasing its debt cost and pressuring its long-duration valuation.
Is Siltronic stock cheap or expensive?
at the analysis dateOn EV / EBITDA, it trades 33% below the Technology median.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| EV / EBITDA | 13.8 | 20.4 | −33% |
| Price / book | 1.3 | 6.3 | −80% |
| Price / sales | 2.1 | 5.3 | −60% |
Sector: median of the 283 Technology companies analysed. In bold, the multiples used for the comparison.
Valuation score: 4.7 out of 10 (median for Technology: 5.3).
Average analyst target: 96.00 EUR, +14.4% versus the price.
A discount may reflect more risk or slower growth than its sector: Financial health 4.0 (sector 6.9), Growth 2.9 (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
- Forward P/E
- −22.4
- EV / EBITDA
- 13.8
- Price / book
- 1.3
- Price / sales
- 2.1
- Market cap
- 2.8B EUR
- Enterprise value
- 3.5B EUR
Profitability
- ROE
- −10.4%
- ROA
- −2.4%
- ROIC (approx.)
- −5.7%
- Gross margin
- −3.4%
- Operating margin
- −16.1%
- Net margin
- −14.8%
- Free cash flow
- −30.7M EUR
- FCF yield
- −1.1%
- Cash conversion
- −12%
Solvency
- Total debt
- 1.5B EUR
- Net debt
- 817.8M EUR
- Cash
- 647.4M EUR
- EBITDA
- 257.5M EUR
- Net debt / EBITDA
- 3.18
- Debt / equity
- 66.43
- Current ratio
- 1.89
- Quick ratio
- 1.28
Growth
- Revenue growth
- −2.3%
- EPS (TTM)
- −6.41 EUR
- EPS (forward)
- −3.74 EUR
Dividend
- Dividend yield
- 0.2%
- Payout
- 20.6%
Risk and market
- Beta
- 1.53
- Analyst consensus
- Buy (10)
- Target price
- 96.00 EUR
- 52-week range
- 41.72 – 108.80
Recent news
All WAF.DE news →Compare it with its sector
All 283 in Technology →Frequently asked questions about Siltronic
Is Siltronic stock cheap or expensive?
On EV / EBITDA, it trades 33% below the Technology median. Valuation score: 4.7 out of 10 (median for Technology: 5.3). Average analyst target: 96.00 EUR, +14.4% versus the price. This is not investment advice.
What score does Siltronic get on MeridIAn Screener?
It scores 3.4 out of 10, rank 2,047 of 2,130 (better than 4% of the companies analysed). Its strongest category is Momentum (6.7) and its weakest, Quality / Moat (0.7). Analysis of 08/10/2026.
How much is Siltronic worth on the stock market?
Its market capitalisation is 2.8B EUR and its enterprise value, debt included, is 3.5B EUR.
How much debt does Siltronic have?
Its net debt (debt minus cash) is 817.8M EUR. That is 3.18 times its EBITDA; the Technology median is 0.20.
Does Siltronic pay a dividend?
Yes: its dividend yield is 0.24% and it pays out 21% of its earnings.
How has Siltronic stock performed over the last year?
It has risen 56.8% over the last year, excluding dividends. Over the last 52 weeks it has traded between 41.72 and 108.80 EUR. Past performance does not guarantee future results.
What do analysts think of Siltronic?
10 analysts cover it; their average recommendation is “Buy” and their average target is 96.00 EUR (+14.4% versus the price). It is an estimate, not market data.