# AXT Inc (AXTI) fundamentals

Data as of 2026-11-04. NASDAQ, United States. Sector: Technology / Semiconductors & Chip Equipment. Price $51.33, market value $3.4 billion.

## Valuation
- **P/E (trailing): 104.8×** (5-yr avg 18.9×). AXT Inc trades at 104.8× 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 20.1×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 26.8×**. Each dollar of revenue is priced at 26.8×, a level that requires very high margins or very fast growth to justify.
- **Price / book: 3.6×**. The shares trade at 3.6× book value; book value is a meaningful part of the valuation.
- **Free-cash-flow yield: -0.6%** (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: 1.0%**. The inverse of the P/E: 1.0% 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.
- **Current ratio: 2.72** (quick 2.72). Current assets cover the next year's liabilities 2.72 times.
- **Altman Z-score: 21.72**. A Z-score of 21.72 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 2/9**. 2 of 9 checks pass: weak or deteriorating financials.

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

## Analyst view
- **Analyst consensus: buy** (5 analysts). 5 analysts cover AXT Inc; the consensus is buy, with an average price target of $91.60 (+78% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 506.7%** (YTD 213.9%, 3-mo -21.4%). The shares are up 506.7% over twelve months including dividends.
- **From 52-week high: -64.1%** (557.2% above the low). Trading 64% below its 52-week high, deep in a drawdown.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 41**. An RSI of 41 is neutral.
- **Beta (1 yr): 4.54** (volatility 153%). Beta of 4.54 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.