# AXT Inc (AXTI) fundamentals

Data as of 2026-09-08. NASDAQ, United States. Sector: Technology / Semiconductors & Semiconductor Equipment. Price $61.64, market value $4.0 billion.

## Valuation
- **P/E (trailing): 2054.7×** (5-yr avg 18.9×). AXT Inc trades at 2054.7× trailing earnings, well above its own five-year average of 18.9×: investors are paying up relative to the company's past. The Technology median in the September 2026 study was 32.1×. Forward P/E is 27.7×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 32.2×**. Each dollar of revenue is priced at 32.2×, a level that requires very high margins or very fast growth to justify.
- **Price / book: 4.5×**. The shares trade at 4.5× book value; book value is a meaningful part of the valuation.
- **Free-cash-flow yield: -0.5%** (5-yr avg -11.5%). Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.
- **Earnings yield: 0.0%**. The inverse of the P/E: 0.0% of the price is earned each year.

## Profitability
- **Gross margin: 32.2%**. AXT Inc keeps 32.2% of revenue after the direct cost of what it sells.
- **Operating margin: 3.1%**. 3.1% of revenue is left after running the business, which leaves little cushion in a downturn.
- **Net margin: -24.1%**. The company reported a net loss over the last twelve months.
- **Return on equity: -7.8%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: 1.4%**. Return on all capital, debt included, is 1.4%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: 0.9%**. Each dollar of assets produces 0.9% of profit.

## Growth
- **Revenue growth (1 yr): -11.1%** (3-yr -14.5%/yr, 5-yr -1.5%/yr). Revenue fell 11.1% over the last year, against -1.5% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -81.5%**. Earnings per share fell 81.5%, slower than revenue, so margins compressed.

## Financial health
- **Debt to equity: 0.23**. Debt is 0.23 times equity: a conservative balance sheet.
- **Net debt / EBITDA: net cash**. AXT Inc holds more cash than debt.
- **Altman Z-score: 25.39**. A Z-score of 25.39 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 1/9**. 1 of 9 checks pass: weak or deteriorating financials.

## Dividends
- **Dividend: none**. AXT Inc does not currently pay a dividend.

## Price and momentum
- **Total return (1 yr): 1982.4%** (YTD 277.0%, 3-mo -30.8%). The shares are up 1982.4% over twelve months including dividends.
- **From 52-week high: -56.9%** (1941.1% above the low). Trading 57% below its 52-week high, deep in a drawdown.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 47**. An RSI of 47 is neutral.
- **Beta (1 yr): 4.14** (volatility 153%). Beta of 4.14 against the S&P 500: the shares move much more than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=AXTI · Page: https://foliofundamentals.com/stocks/axti

Not investment advice.