YouTube · Q2 FY2027 · 2026-09-07
AXTI · NasdaqGS
AXT, Inc.
Semiconductor Equipment & Materials · United States
- Market cap (USD)
- US$3.08B
- Trailing P/E
- 95.86x
- Forward P/E
- 18.43x
- Quarterly revenue growth
- 162.6%
- Trailing net margin
- 18.5%
- Indicated dividend yield
- —
Snapshot 2026-11-11 · Latest financial period 2026-09-30 · Yahoo Finance. Quotes may be delayed; reporting periods can differ.
Company background
AXT, Inc. designs, develops, manufactures, and distributes compound and single element semiconductor substrates. The company provides indium phosphide for use in data center connectivity using light/lasers, high-speed data transfer in data centers, 5G communications, fiber optic lasers and detectors, consumer devices, passive optical networks, silicon photonics, photonic integrated circuits, thermo-photovoltaics, RF amplifier and switching, infrared light-emitting diode (LEDS) motion control, lidar for robotics and autonomous vehicles, and infrared thermal imaging. It also offers semi-insulating gallium arsenide (GaAs) substrates for use in Wi-Fi and IoT devices, transistors, direct broadcast television, power amplifiers, satellite communications, and solar cells; and semi-conducting GaAs substrates that are used in LEDs, screen displays using micro-LEDs, printer head lasers and LEDs, 3-D sensing using VCSELs, data center communication using VCSELs, sensors for industrial robotics/near-infrared sensors, laser machining, cutting and drilling, optical couplers, solar cells, night vision goggles, lidar for robotics and autonomous vehicles, and other lasers. In addition, the company provides germanium substrates for use in multi-junction solar cells for satellites, optical sensors and detectors, terrestrial concentrated photo voltaic cells, infrared detectors, and carrier wafer for LED. Further, it offers 6N+ and 7N+ purified gallium, boron trioxide, gallium-magnesium alloy, pyrolytic boron nitride (pBN) crucibles, and pBN insulating parts. It sells its products through direct salesforce in the United States, China, and Europe, as well as through independent sales representatives and distributors in Japan, Taiwan, Korea, and internationally. The company was formerly known as American Xtal Technology, Inc. and changed its name to AXT, Inc. in July 2000. AXT, Inc. was incorporated in 1986 and is headquartered in Fremont, California.
Company websiteQ2 2026
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Comparable businesses
AXTI peer comparison
Same business group first, then company size. Preferred market cap: 0.5–2x; extended range: one-third–3x. Outside that range, industry benchmarks are labeled separately and excluded from peer medians.
| Metric | AXTIAXT, Inc.Snapshot 2026-11-11Financial period: 2026-09-30 | AMBAAmbarella, Inc.Snapshot 2026-11-11Financial period: 2026-07-31 | KLICKulicke and Soffa Industries, Inc.Snapshot 2026-11-11Financial period: 2026-07-04 | Peer medianSimilar-size peers only |
|---|---|---|---|---|
| Market capMarket value, converted to USD | US$3.08B | US$2.76B | US$3.83B | US$3.29Bn=2 |
| Forward P/EProvider forward earnings estimate | 18.43x | 59.20x | 12.40x | 35.80xn=2 |
| EV / EBITDAEnterprise value / trailing EBITDA | 50.52x | — | 19.77x | — |
| Revenue growthLatest quarter vs prior-year quarter | 162.6% | 13.2% | 122.6% | 67.9%n=2 |
| Operating marginLatest reported quarter | 19.6% | -14.9% | 15.2% | 0.1%n=2 |
| Free cash flow yieldTrailing cash flow / market cap | — | 1.2% | 1.0% | 1.1%n=2 |
| Net debt / EBITDANet debt / trailing EBITDA | -9.16x | — | -2.98x | — |
| Debt / equityTotal debt / positive book equity | 0.12x | 0.02x | 0.04x | 0.03xn=2 |
| Trailing P/ETrailing twelve-month earnings | 95.86x | — | 33.58x | — |
| Price / bookPrice / positive book equity per share | 3.30x | 4.45x | 4.20x | 4.32xn=2 |
| EV / salesEnterprise value / trailing revenue | 12.79x | 5.75x | 3.33x | 4.54xn=2 |
| Earnings growthLatest quarter vs prior-year quarter | — | — | — | — |
| Gross marginTrailing twelve months | 44.0% | 58.5% | 49.3% | 53.9%n=2 |
| Net marginTrailing twelve months | 18.5% | -13.5% | 12.2% | -0.7%n=2 |
| Return on equityProvider trailing return; positive equity only | 6.1% | -9.4% | 13.2% | 1.9%n=2 |
| Free cash flow marginTrailing free cash flow / revenue | — | 7.9% | 3.9% | 5.9%n=2 |
| Dividend yieldIndicated annual dividend / price | — | — | 1.1% | — |
| Earnings payoutProvider trailing dividend payout | 0.0% | 0.0% | 37.5% | 18.8%n=2 |
| Current ratioCurrent assets / current liabilities | 3.80x | 2.85x | 3.44x | 3.15xn=2 |
| BetaProvider historical market sensitivity | 2.01 | 2.36 | 1.66 | 2.01n=2 |
YouTube · Q2 FY2027 · 2026-09-07
Kulicke and Soffa Industries, Inc. (KLIC)
Similar size · 1.24x market cap
Semiconductor Equipment & Materials
YouTube · Q3 FY2026 · 2026-08-10
Comparison methodology & limitations
Reviewed operating groups override broad sector classifications. Other companies are matched only within a sufficiently specific provider industry. Business mix, geography and accounting standards can still differ. Market caps are converted to USD using exchange rates captured during the snapshot refresh. Financial ratios that would mix currencies are omitted. Snapshots must be at most 14 days old and no more than seven days apart for automatic selection.
Peer medians require at least two valid similar-size peers for each metric. Negative earnings, nonpositive equity, missing data and irrelevant bank ratios are not presented as attractive valuations. A higher or lower number is not automatically a better investment. Financial statement periods are not calendar-aligned across companies.
Reported performance
Financial trends
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Revenue
Reported figures
Financial data & calculation notes
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Market context
Valuation & price history
Adjusted closing price
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Price figures
Earnings-multiple scenario
Illustrative price = your earnings-per-share assumption × your P/E assumption. This is not a price target or a complete valuation model.
Starting assumptions, when available, use provider forward estimates as of 2026-11-11. Negative earnings require a different valuation method. This calculation omits balance-sheet, dilution and execution risks.
THE RESEARCH RECORD
Research history for AXTI
Q2 20262026-07-31
AXT (AXTI): Record Quarter, 45% Margin — and a Price That Already Knows
Presentation · 2026-07-31 · YouTube
Short takes Q2 2026
AXTI: Record Quarter, 45% Margin — Still a HOLD #shorts
Watch Short on YouTube