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AXT INC AXTI

Nasdaq · stock · Semiconductors & Related Devices · website · IPO 1998-05-21 · LEI

AXT INC statistics & valuation

Market cap$4.6B
P / S52.0×
P / B15.5×
Net margin-24.1%
Return on equity-7.2%
FCF margin-21.3%
Return on capital-6.4%

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports.

Profitability & efficiency

Net margin (%)
6.90% 10.30% 9.40% -3.10% 3.40% 10.60% 11.20% -23.60% -11.70% -24.10% 2016201720182019202020212022202320242025
Gross margin (%)
32.40% 34.90% 36.20% 29.80% 31.70% 34.50% 36.90% 17.60% 24.00% 12.70% 2016201720182019202020212022202320242025
Operating margin (%)
7.90% 12.80% 11.90% -0.40% 4.10% 9.40% 8.90% -28.50% -14.90% -24.90% 2016201720182019202020212022202320242025
Return on equity (%)
4.10% 5.40% 5.00% -1.30% 1.60% 6.30% 6.50% -7.90% -5.40% -7.20% 2016201720182019202020212022202320242025
Shares outstanding
33.0M 39.4M 40.3M 40.6M 42.0M 42.9M 43.6M 44.2M 45.4M 55.3M 2016201720182019202020212022202320242025
Net debt ($)
2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
3.70% 4.80% 4.30% -1.20% 1.10% 4.40% 4.30% -5.00% -3.40% -4.90% 2016201720182019202020212022202320242025
Free cash flow margin (%)
12.00% -12.90% -36.40% -11.00% -14.70% -24.00% -26.40% -9.30% -18.00% -21.30% 2016201720182019202020212022202320242025
Debt / equity (×)
2016201720182019202020212022202320242025
EPS ($)
$0.17 $0.26 $0.24 -$0.07 $0.07 $0.34 $0.37 -$0.42 -$0.27 -$0.49 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

AXT INC trades at about 212.1× earnings — above its 10-year norm (10-year range 8.4×–147.6×, median 30.4×).

8.4× 212.1×

Shaded band = 10-year range (8.4×–147.6×); dot = today's 212.1×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Gross margin12.7%24.0%17.6%36.9%34.5%31.7%29.8%36.2%34.9%32.4%
Operating margin-24.9%-14.9%-28.5%8.9%9.4%4.1%-0.4%11.9%12.8%7.9%
Net margin-24.1%-11.7%-23.6%11.2%10.6%3.4%-3.1%9.4%10.3%6.9%
FCF margin-21.3%-18.0%-9.3%-26.4%-24.0%-14.7%-11.0%-36.4%-12.9%12.0%
Return on assets-4.9%-3.4%-5.0%4.3%4.4%1.1%-1.2%4.3%4.8%3.7%
Return on equity-7.2%-5.4%-7.9%6.5%6.3%1.6%-1.3%5.0%5.4%4.1%
Current ratio2.722.132.092.443.354.214.114.486.226.73

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.