AXT, Inc. (AXTI) 10-Year Financial Performance & Capital Metrics

AXTI • • Industrial / General

TechnologySemiconductorsSemiconductor Materials & SubstratesWafer & Substrate Materials

AboutAXT, Inc. designs, develops, manufactures, and distributes compound and single element semiconductor substrates. It produces semiconductor substrates using its proprietary vertical gradient freeze technology. The company offers indium phosphide for use in data center connectivity using light/lasers, 5G communications, fiber optic lasers and detectors, passive optical networks, silicon photonics, photonic integrated circuits, terrestrial solar cells, RF amplifier and switching, infrared light-emitting diode (LEDS) motion control, lidar for robotics and autonomous vehicles, and infrared thermal imaging. It also provides 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 LED, screen displays, printer head lasers and LEDs, 3-D sensing using VCSELs, data center communication using VCSELs, sensors for industrial robotics/near-infrared sensors, optical couplers, solar cells, night vision goggles, lidar for robotics and autonomous vehicles, and other lasers, as well as laser machining, cutting, and drilling. In addition, the company offers 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 provides 6N+ and 7N+ purified gallium, boron trioxide, gallium-magnesium alloy, pyrolytic boron nitride (pBN) crucibles, and pBN insulating parts. AXT, Inc. 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.Show more

Revenue $99M +31.1%
EBITDA -$6M +54.7%
Net Income -$12M +35.0%
EPS (Diluted) -0.27 +35.7%
Gross Margin 23.99% +36.5%
EBITDA Margin -5.86% +65.4%
Operating Margin -14.9% +47.6%
Net Margin -11.7% +50.4%
ROE -4.44% +30.7%
ROIC -3.9% +28.7%
Debt/Equity 0.20 -5.7%
Interest Coverage -11.05 +21.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 98 (top 2%)
✓Trading near 52-week high

✗Weaknesses

✗Negative free cash flow
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y1.75%

5Y3.6%

3Y-10.24%

TTM-4.54%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-124.48%

EPS CAGR

10Y-

5Y-

3Y-

TTM-113.85%

ROCE

10Y Avg1.28%

5Y Avg-0.44%

3Y Avg-2.89%

Latest-5.46%

Peer Comparison

Wafer & Substrate Materials

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PLABPhotronics, Inc.	2.02B	34.22	16.37	-2.82%	12.67%	7.05%	6.46%	0.02
WOLFWolfspeed, Inc.	515.78M	19.92	-1.75	-6.14%	-259.39%	-7.4%
DQDaqo New Energy Corp.	1.72B	25.59	-4.92	-55.41%	-53.73%	-5.88%		0.00
AXTIAXT, Inc.	1.39B	25.72	-95.26	31.09%	-25.22%	-9.48%		0.20

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	77.5M	81.35M	98.67M	102.4M	83.26M	95.36M	137.39M	141.12M	75.8M	99.36M
Revenue Growth %	-0.07%	0.05%	0.21%	0.04%	-0.19%	0.15%	0.44%	0.03%	-0.46%	0.31%
Cost of Goods Sold+	60.67M	54.97M	64.2M	65.35M	58.43M	65.09M	89.98M	89M	62.48M	75.53M
COGS % of Revenue	0.78%	0.68%	0.65%	0.64%	0.7%	0.68%	0.65%	0.63%	0.82%	0.76%
Gross Profit+	16.83M	26.38M	34.48M	37.05M	24.82M	30.27M	47.41M	52.12M	13.32M	23.84M
Gross Margin %	0.22%	0.32%	0.35%	0.36%	0.3%	0.32%	0.35%	0.37%	0.18%	0.24%
Gross Profit Growth %	-0.02%	0.57%	0.31%	0.07%	-0.33%	0.22%	0.57%	0.1%	-0.74%	0.79%
Operating Expenses+	21.73M	19.73M	21.84M	24.9M	25.14M	26.34M	34.52M	39.57M	34.89M	38.64M
OpEx % of Revenue	0.28%	0.24%	0.22%	0.24%	0.3%	0.28%	0.25%	0.28%	0.46%	0.39%
Selling, General & Admin	16.06M	13.88M	17.01M	19M	19.3M	19.2M	24.19M	25.65M	22.81M	24.1M
SG&A % of Revenue	0.21%	0.17%	0.17%	0.19%	0.23%	0.2%	0.18%	0.18%	0.3%	0.24%
Research & Development	5.66M	5.85M	4.83M	5.9M	5.83M	7.13M	10.33M	13.91M	12.08M	14.54M
R&D % of Revenue	0.07%	0.07%	0.05%	0.06%	0.07%	0.07%	0.08%	0.1%	0.16%	0.15%
Other Operating Expenses	0	0	0	0	0	0	0	0	0	0
Operating Income+	-4.9M	6.42M	12.64M	12.15M	-314K	3.94M	12.9M	12.55M	-21.57M	-14.8M
Operating Margin %	-0.06%	0.08%	0.13%	0.12%	-0%	0.04%	0.09%	0.09%	-0.28%	-0.15%
Operating Income Growth %	-0.72%	2.31%	0.97%	-0.04%	-1.03%	13.55%	2.27%	-0.03%	-2.72%	0.31%
EBITDA+	595K	11.29M	17.06M	17.02M	5.22M	8.27M	19.98M	20.67M	-12.85M	-5.82M
EBITDA Margin %	0.01%	0.14%	0.17%	0.17%	0.06%	0.09%	0.15%	0.15%	-0.17%	-0.06%
EBITDA Growth %	-0.79%	17.97%	0.51%	-0%	-0.69%	0.59%	1.41%	0.03%	-1.62%	0.55%
D&A (Non-Cash Add-back)	5.49M	4.87M	4.42M	4.87M	5.53M	4.33M	7.08M	8.12M	8.72M	8.98M
EBIT	-4.9M	6.65M	12.64M	12.15M	-932K	7.25M	18.02M	22M	-17.51M	-9.32M
Net Interest Income+	412K	409K	461K	528K	217K	-179K	-213K	-1.07M	-1.53M	-1.34M
Interest Income	412K	409K	461K	528K	217K	0	0	0	0	0
Interest Expense	0	0	0	0	0	179K	213K	1.07M	1.53M	1.34M
Other Income/Expense	2.9M	-726K	-1.79M	-200K	-712K	3.13M	4.71M	8.37M	2.54M	4.15M
Pretax Income+	-2M	5.7M	10.85M	11.95M	-1.03M	7.07M	17.6M	20.93M	-19.03M	-10.66M
Pretax Margin %	-0.03%	0.07%	0.11%	0.12%	-0.01%	0.07%	0.13%	0.15%	-0.25%	-0.11%
Income Tax+	531K	733K	792K	938K	562K	2.03M	1.09M	2.19M	160K	1.13M
Effective Tax Rate %	1.11%	0.99%	0.94%	0.81%	2.53%	0.46%	0.83%	0.76%	0.94%	1.09%
Net Income+	-2.23M	5.64M	10.15M	9.65M	-2.6M	3.24M	14.57M	15.81M	-17.88M	-11.62M
Net Margin %	-0.03%	0.07%	0.1%	0.09%	-0.03%	0.03%	0.11%	0.11%	-0.24%	-0.12%
Net Income Growth %	-0.61%	3.53%	0.8%	-0.05%	-1.27%	2.25%	3.5%	0.08%	-2.13%	0.35%
Net Income (Continuing)	-2.53M	4.97M	10.06M	11.01M	-1.59M	5.04M	16.51M	18.74M	-19.19M	-11.79M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	5.59M	4.38M	4.5M	3.7M	4.88M	62.91M	68.7M	68.14M	65.16M	62.14M
EPS (Diluted)+	-0.07	0.17	0.26	0.24	-0.04	0.07	0.34	0.37	-0.42	-0.27
EPS Growth %	-0.62%	3.46%	0.53%	-0.08%	-1.17%	2.86%	3.56%	0.09%	-2.14%	0.36%
EPS (Basic)	-0.07	0.17	0.27	0.25	-0.04	0.08	0.35	0.37	-0.42	-0.27
Diluted Shares Outstanding	32.18M	32.89M	38.97M	40.27M	39.49M	41.02M	42.72M	42.72M	42.64M	43.15M
Basic Shares Outstanding	32.18M	32.14M	37.44M	39.05M	39.49M	40.15M	41.37M	42.1M	42.64M	43.15M
Dividend Payout Ratio	-	-	0.05%	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	96.89M	107.29M	140.52M	128.54M	113.2M	164.52M	160.19M	183.54M	170.66M	158.27M
Cash & Short-Term Investments	36.31M	47.57M	64.38M	38.66M	36.32M	72.84M	42.18M	44.29M	39.89M	22.83M
Cash Only	24.88M	36.15M	44.35M	16.53M	26.89M	72.6M	36.76M	34.95M	37.75M	22.83M
Short-Term Investments	11.44M	11.41M	20.03M	22.13M	9.43M	240K	5.42M	9.34M	2.14M	0
Accounts Receivable	18.47M	14.45M	22.78M	19.59M	19.03M	24.56M	34.84M	29.25M	19.26M	25.64M
Days Sales Outstanding	86.98	64.85	84.26	69.82	83.43	94	92.55	75.66	92.73	94.19
Inventory	38.01M	40.15M	45.84M	58.57M	49.15M	51.52M	65.91M	89.63M	86.5M	85.08M
Days Inventory Outstanding	228.67	266.62	260.62	327.14	307.04	288.89	267.37	367.59	505.36	411.16
Other Current Assets	0	5.11M	7.52M	0	0	0	0	6.4M	12.36M	24.72M
Total Non-Current Assets+	55.01M	46.96M	70.68M	94.98M	110.14M	134.34M	172.26M	186.53M	188.04M	181.04M
Property, Plant & Equipment	31.42M	27.8M	46.53M	82.28M	100.34M	118.51M	144.74M	162.78M	169.15M	162.2M
Fixed Asset Turnover	2.47x	2.93x	2.12x	1.24x	0.83x	0.80x	0.95x	0.87x	0.45x	0.61x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	1.15M	1.05M	1.12M	1.68M	2.11M	1.93M	1.82M	1.71M
Long-Term Investments	7.69M	6.16M	12.58M	717K	5.96M	12.1M	19.74M	16.73M	12.48M	14.07M
Other Non-Current Assets	15.89M	13M	11.57M	11.99M	11.39M	2.05M	3.33M	2.86M	2.92M	1.65M
Total Assets+	151.9M	154.25M	211.2M	223.52M	223.35M	298.86M	332.44M	370.07M	358.7M	339.31M
Asset Turnover	0.51x	0.53x	0.47x	0.46x	0.37x	0.32x	0.41x	0.38x	0.21x	0.29x
Asset Growth %	-0.06%	0.02%	0.37%	0.06%	-0%	0.34%	0.11%	0.11%	-0.03%	-0.05%
Total Current Liabilities+	12.84M	13.05M	22.59M	28.71M	27.53M	39.08M	47.82M	75.33M	81.56M	74.18M
Accounts Payable	6.46M	6.69M	11.45M	13.34M	10.1M	12.67M	16.65M	10.08M	9.62M	12.36M
Days Payables Outstanding	38.86	44.43	65.07	74.5	63.08	71.05	67.54	41.36	56.18	59.71
Short-Term Debt	0	0	0	0	5.75M	10.41M	14.12M	47.08M	52.92M	47.26M
Deferred Revenue (Current)	0	238K	924K	1000K	396K	374K	946K	338K	305K	1000K
Other Current Liabilities	1.26M	6.01M	6.52M	9.32M	7.31M	9.9M	9.69M	11.55M	10.89M	9.21M
Current Ratio	7.55x	8.22x	6.22x	4.48x	4.11x	4.21x	3.35x	2.44x	2.09x	2.13x
Quick Ratio	4.59x	5.14x	4.19x	2.44x	2.33x	2.89x	1.97x	1.25x	1.03x	0.99x
Cash Conversion Cycle	276.79	287.04	279.81	322.46	327.39	311.84	292.39	401.89	541.91	445.64
Total Non-Current Liabilities+	1.49M	905K	289K	283K	3.06M	4.25M	4.39M	5M	8M	10.23M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	2.69M	2.37M	1.94M	1.32M	2.35M	1.98M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	1.49M	905K	289K	283K	366K	1.88M	2.45M	3.68M	5.65M	8.25M
Total Liabilities	14.34M	13.96M	22.88M	28.99M	30.59M	43.33M	52.21M	80.33M	89.56M	84.41M
Total Debt+	0	0	0	0	8.76M	13.23M	16.54M	48.88M	55.73M	49.78M
Net Debt	-24.88M	-36.15M	-44.35M	-16.53M	-18.13M	-59.37M	-20.22M	13.94M	17.98M	26.94M
Debt / Equity	-	-	-	-	0.05x	0.05x	0.06x	0.17x	0.21x	0.20x
Debt / EBITDA	-	-	-	-	1.68x	1.60x	0.83x	2.36x	-	-
Net Debt / EBITDA	-41.81x	-3.20x	-2.60x	-0.97x	-3.48x	-7.18x	-1.01x	0.67x	-	-
Interest Coverage	-	-	-	-	-	22.01x	60.55x	11.72x	-14.13x	-11.05x
Total Equity+	137.56M	140.29M	188.32M	194.53M	192.76M	255.53M	280.23M	289.75M	269.15M	254.91M
Equity Growth %	-0.05%	0.02%	0.34%	0.03%	-0.01%	0.33%	0.1%	0.03%	-0.07%	-0.05%
Book Value per Share	4.27	4.26	4.83	4.83	4.88	6.23	6.56	6.78	6.31	5.91
Total Shareholders' Equity	131.97M	135.91M	183.82M	190.84M	187.88M	192.62M	211.53M	221.61M	203.99M	192.77M
Common Stock	32K	32K	39K	39K	41K	42K	43K	44K	44K	45K
Retained Earnings	-70.62M	-64.98M	-54.84M	-45.18M	-47.78M	-44.55M	-29.97M	-14.16M	-32.04M	-43.66M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	4.38M	253K	3.41M	-1.97M	-4.86M	3.21M	6.3M	-3.12M	-6M	-8.66M
Minority Interest	5.59M	4.38M	4.5M	3.7M	4.88M	62.91M	68.7M	68.14M	65.16M	62.14M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	1.88M	12.5M	8.62M	3.22M	12.66M	5.87M	-3.31M	-8.77M	3.4M	-12.11M
Operating CF Margin %	0.02%	0.15%	0.09%	0.03%	0.15%	0.06%	-0.02%	-0.06%	0.04%	-0.12%
Operating CF Growth %	-0.51%	5.66%	-0.31%	-0.63%	2.93%	-0.54%	-1.56%	-1.65%	1.39%	-4.56%
Net Income	-2.53M	4.97M	10.06M	11.01M	-1.59M	5.04M	16.51M	18.74M	-17.88M	-11.79M
Depreciation & Amortization	5.49M	4.87M	4.42M	4.87M	5.53M	4.33M	7.08M	8.12M	8.72M	8.98M
Stock-Based Compensation	1.35M	1.1M	1.41M	1.93M	2.35M	2.62M	4.52M	4.01M	3.54M	3.1M
Deferred Taxes	-1.09M	1.88M	1.67M	981K	0	0	2.34M	104K	553K	265K
Other Non-Cash Items	218K	94K	173K	158K	2.35M	156K	-3.49M	-4.55M	1.43M	-925K
Working Capital Changes	-1.56M	-401K	-9.12M	-15.73M	4.02M	-6.29M	-30.26M	-35.18M	7.04M	-11.74M
Change in Receivables	-1.08M	3.46M	-7.98M	2.82M	441K	-5.33M	-9.66M	4.54M	9.31M	-6.9M
Change in Inventory	-45K	-2.96M	-4.74M	-14.63M	8.86M	-916K	-12.4M	-31.41M	1.07M	-737K
Change in Payables	-485K	524K	4.4M	2.31M	-3.14M	2.31M	3.56M	-5.52M	-162K	3.04M
Cash from Investing+	-2.48M	-1.11M	-36.46M	-30.83M	-8.33M	-16.42M	-38.81M	-25.22M	-2.6M	-4.45M
Capital Expenditures	-4.15M	-2.73M	-21.36M	-40.54M	-21.79M	-19.86M	-29.64M	-28.46M	-10.47M	-5.77M
CapEx % of Revenue	0.05%	0.03%	0.22%	0.4%	0.26%	0.21%	0.22%	0.2%	0.14%	0.06%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	469K	35K	169K	99K	13.46M	0	-9.16M	-2.23M	-708K	0
Cash from Financing+	-2.23M	1.3M	35.64M	213K	6.19M	52.66M	5.72M	38.03M	8.61M	-536K
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-112K	0	-465K	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	-39K	34.34M	213K	6K	694K	3.49M	2.23M	708K	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-2.27M	9.78M	-12.74M	-37.32M	-9.13M	-13.99M	-32.95M	-37.23M	-7.07M	-17.88M
FCF Margin %	-0.03%	0.12%	-0.13%	-0.36%	-0.11%	-0.15%	-0.24%	-0.26%	-0.09%	-0.18%
FCF Growth %	-2.23%	5.3%	-2.3%	-1.93%	0.76%	-0.53%	-1.36%	-0.13%	0.81%	-1.53%
FCF per Share	-0.07	0.30	-0.33	-0.93	-0.23	-0.34	-0.77	-0.87	-0.17	-0.41
FCF Conversion (FCF/Net Income)	-0.84x	2.22x	0.85x	0.33x	-4.87x	1.81x	-0.23x	-0.55x	-0.19x	1.04x
Interest Paid	0	0	0	0	0	0	0	0	1.56M	2.07M
Taxes Paid	284K	788K	714K	1.13M	749K	1.96M	3.18M	1.69M	686K	962K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-1.58%	4.06%	6.18%	5.04%	-1.34%	1.44%	5.44%	5.55%	-6.4%	-4.44%
Return on Invested Capital (ROIC)	-3.22%	4.44%	7.64%	5.66%	-0.13%	1.59%	4.24%	3.34%	-5.48%	-3.9%
Gross Margin	21.71%	32.43%	34.94%	36.18%	29.82%	31.75%	34.51%	36.93%	17.57%	23.99%
Net Margin	-2.87%	6.93%	10.28%	9.43%	-3.12%	3.4%	10.61%	11.2%	-23.59%	-11.7%
Debt / Equity	-	-	-	-	0.05x	0.05x	0.06x	0.17x	0.21x	0.20x
Interest Coverage	-	-	-	-	-	22.01x	60.55x	11.72x	-14.13x	-11.05x
FCF Conversion	-0.84x	2.22x	0.85x	0.33x	-4.87x	1.81x	-0.23x	-0.55x	-0.19x	1.04x
Revenue Growth	-7.18%	4.96%	21.3%	3.77%	-18.69%	14.54%	44.08%	2.71%	-46.29%	31.09%

Revenue by Segment

	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023
Substrates	-	-	65.63M	78.62M	81.01M	67.85M	75.59M	103.03M	111.09M	47.47M
Substrates Growth	-	-	-	19.79%	3.04%	-16.24%	11.40%	36.30%	7.83%	-57.27%
Raw materials and others	-	-	-	-	-	-	-	-	-	28.33M
Raw materials and others Growth	-	-	-	-	-	-	-	-	-	-
Raw Materials And Others	-	-	15.72M	20.05M	21.39M	15.41M	19.77M	34.37M	30.02M	-
Raw Materials And Others Growth	-	-	-	27.60%	6.66%	-27.97%	28.34%	73.80%	-12.64%	-

Revenue by Geography

	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023
China	17.45M	-	-	-	-	-	-	67.39M	55.41M	39.78M
China Growth	-	-	-	-	-	-	-	-	-17.78%	-28.22%
Taiwan	11.46M	-	-	-	-	-	-	16.84M	28.78M	8.65M
Taiwan Growth	-	-	-	-	-	-	-	-	70.89%	-69.94%
North America (primarily the United States)	-	-	-	-	-	-	-	-	20.42M	6.6M
North America (primarily the United States) Growth	-	-	-	-	-	-	-	-	-	-67.70%
Japan	11.55M	-	-	-	-	-	-	10.11M	11.72M	4.64M
Japan Growth	-	-	-	-	-	-	-	-	15.94%	-60.41%
Asia Pacific (excluding China, Taiwan and Japan)	-	-	-	-	-	-	-	-	-	3.81M
Asia Pacific (excluding China, Taiwan and Japan) Growth	-	-	-	-	-	-	-	-	-	-
Asia Pacific (excluding China, Taiwan, and Japan)	-	-	-	-	-	-	-	7.54M	4.19M	-
Asia Pacific (excluding China, Taiwan, and Japan) Growth	-	-	-	-	-	-	-	-	-44.46%	-
Europe	21.54M	19.52M	18.64M	23.96M	22.01M	18.18M	19.67M	23.07M	-	-
Europe Growth	-	-9.37%	-4.51%	28.54%	-8.11%	-17.42%	8.22%	17.26%	-	-
North America	10.29M	9.84M	8.08M	8.35M	10.02M	8.23M	10.97M	12.44M	-	-
North America Growth	-	-4.42%	-17.82%	3.32%	19.98%	-17.89%	33.34%	13.36%	-	-
C	-	13.73M	17.45M	24.96M	31.49M	26.8M	35.15M	-	-	-
C Growth	-	-	27.10%	43.07%	26.16%	-14.91%	31.18%	-	-	-
T	-	13.8M	15.37M	18.28M	20.08M	16.2M	16.48M	-	-	-
T Growth	-	-	11.38%	18.93%	9.84%	-19.29%	1.73%	-	-	-
J	-	9.14M	11.02M	13.26M	10.3M	6.26M	7.62M	-	-	-
J Growth	-	-	20.54%	20.36%	-22.27%	-39.27%	21.83%	-	-	-
Asia Pacific Excluding Japan And Taiwan	-	11.48M	10.8M	9.87M	8.49M	7.59M	5.46M	-	-	-
Asia Pacific Excluding Japan And Taiwan Growth	-	-	-5.97%	-8.61%	-13.97%	-10.56%	-28.11%	-	-	-
Asia Pacific (Excluding Japan And Taiwan)	11.21M	-	-	-	-	-	-	-	-	-
Asia Pacific (Excluding Japan And Taiwan) Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

AXT, Inc. (AXTI) reported $90.4M in revenue for fiscal year 2024. This represents a 13% decrease from $104.1M in 2011.

AXT, Inc. (AXTI) grew revenue by 31.1% over the past year. This is strong growth.

AXT, Inc. (AXTI) reported a net loss of $22.8M for fiscal year 2024.

Dividend & Returns

AXT, Inc. (AXTI) has a return on equity (ROE) of -4.4%. Negative ROE indicates the company is unprofitable.

AXT, Inc. (AXTI) had negative free cash flow of $18.9M in fiscal year 2024, likely due to heavy capital investments.

US Stock Screener

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AXT, Inc. (AXTI) 10-Year Financial Performance & Capital Metrics

AXTI • • Industrial / General

TechnologySemiconductorsSemiconductor Materials & SubstratesWafer & Substrate Materials

Revenue $99M +31.1%
EBITDA -$6M +54.7%
Net Income -$12M +35.0%
EPS (Diluted) -0.27 +35.7%
Gross Margin 23.99% +36.5%
EBITDA Margin -5.86% +65.4%
Operating Margin -14.9% +47.6%
Net Margin -11.7% +50.4%
ROE -4.44% +30.7%
ROIC -3.9% +28.7%
Debt/Equity 0.20 -5.7%
Interest Coverage -11.05 +21.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 98 (top 2%)
✓Trading near 52-week high

✗Weaknesses

✗Negative free cash flow
✗Low asset turnover indicates capital-intensive operations

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y1.75%

5Y3.6%

3Y-10.24%

TTM-4.54%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-124.48%

EPS CAGR

10Y-

5Y-

3Y-

TTM-113.85%

ROCE

10Y Avg1.28%

5Y Avg-0.44%

3Y Avg-2.89%

Latest-5.46%

Peer Comparison

Wafer & Substrate Materials

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PLABPhotronics, Inc.	2.02B	34.22	16.37	-2.82%	12.67%	7.05%	6.46%	0.02
WOLFWolfspeed, Inc.	515.78M	19.92	-1.75	-6.14%	-259.39%	-7.4%
DQDaqo New Energy Corp.	1.72B	25.59	-4.92	-55.41%	-53.73%	-5.88%		0.00
AXTIAXT, Inc.	1.39B	25.72	-95.26	31.09%	-25.22%	-9.48%		0.20

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	77.5M	81.35M	98.67M	102.4M	83.26M	95.36M	137.39M	141.12M	75.8M	99.36M
Revenue Growth %	-0.07%	0.05%	0.21%	0.04%	-0.19%	0.15%	0.44%	0.03%	-0.46%	0.31%
Cost of Goods Sold+	60.67M	54.97M	64.2M	65.35M	58.43M	65.09M	89.98M	89M	62.48M	75.53M
COGS % of Revenue	0.78%	0.68%	0.65%	0.64%	0.7%	0.68%	0.65%	0.63%	0.82%	0.76%
Gross Profit+	16.83M	26.38M	34.48M	37.05M	24.82M	30.27M	47.41M	52.12M	13.32M	23.84M
Gross Margin %	0.22%	0.32%	0.35%	0.36%	0.3%	0.32%	0.35%	0.37%	0.18%	0.24%
Gross Profit Growth %	-0.02%	0.57%	0.31%	0.07%	-0.33%	0.22%	0.57%	0.1%	-0.74%	0.79%
Operating Expenses+	21.73M	19.73M	21.84M	24.9M	25.14M	26.34M	34.52M	39.57M	34.89M	38.64M
OpEx % of Revenue	0.28%	0.24%	0.22%	0.24%	0.3%	0.28%	0.25%	0.28%	0.46%	0.39%
Selling, General & Admin	16.06M	13.88M	17.01M	19M	19.3M	19.2M	24.19M	25.65M	22.81M	24.1M
SG&A % of Revenue	0.21%	0.17%	0.17%	0.19%	0.23%	0.2%	0.18%	0.18%	0.3%	0.24%
Research & Development	5.66M	5.85M	4.83M	5.9M	5.83M	7.13M	10.33M	13.91M	12.08M	14.54M
R&D % of Revenue	0.07%	0.07%	0.05%	0.06%	0.07%	0.07%	0.08%	0.1%	0.16%	0.15%
Other Operating Expenses	0	0	0	0	0	0	0	0	0	0
Operating Income+	-4.9M	6.42M	12.64M	12.15M	-314K	3.94M	12.9M	12.55M	-21.57M	-14.8M
Operating Margin %	-0.06%	0.08%	0.13%	0.12%	-0%	0.04%	0.09%	0.09%	-0.28%	-0.15%
Operating Income Growth %	-0.72%	2.31%	0.97%	-0.04%	-1.03%	13.55%	2.27%	-0.03%	-2.72%	0.31%
EBITDA+	595K	11.29M	17.06M	17.02M	5.22M	8.27M	19.98M	20.67M	-12.85M	-5.82M
EBITDA Margin %	0.01%	0.14%	0.17%	0.17%	0.06%	0.09%	0.15%	0.15%	-0.17%	-0.06%
EBITDA Growth %	-0.79%	17.97%	0.51%	-0%	-0.69%	0.59%	1.41%	0.03%	-1.62%	0.55%
D&A (Non-Cash Add-back)	5.49M	4.87M	4.42M	4.87M	5.53M	4.33M	7.08M	8.12M	8.72M	8.98M
EBIT	-4.9M	6.65M	12.64M	12.15M	-932K	7.25M	18.02M	22M	-17.51M	-9.32M
Net Interest Income+	412K	409K	461K	528K	217K	-179K	-213K	-1.07M	-1.53M	-1.34M
Interest Income	412K	409K	461K	528K	217K	0	0	0	0	0
Interest Expense	0	0	0	0	0	179K	213K	1.07M	1.53M	1.34M
Other Income/Expense	2.9M	-726K	-1.79M	-200K	-712K	3.13M	4.71M	8.37M	2.54M	4.15M
Pretax Income+	-2M	5.7M	10.85M	11.95M	-1.03M	7.07M	17.6M	20.93M	-19.03M	-10.66M
Pretax Margin %	-0.03%	0.07%	0.11%	0.12%	-0.01%	0.07%	0.13%	0.15%	-0.25%	-0.11%
Income Tax+	531K	733K	792K	938K	562K	2.03M	1.09M	2.19M	160K	1.13M
Effective Tax Rate %	1.11%	0.99%	0.94%	0.81%	2.53%	0.46%	0.83%	0.76%	0.94%	1.09%
Net Income+	-2.23M	5.64M	10.15M	9.65M	-2.6M	3.24M	14.57M	15.81M	-17.88M	-11.62M
Net Margin %	-0.03%	0.07%	0.1%	0.09%	-0.03%	0.03%	0.11%	0.11%	-0.24%	-0.12%
Net Income Growth %	-0.61%	3.53%	0.8%	-0.05%	-1.27%	2.25%	3.5%	0.08%	-2.13%	0.35%
Net Income (Continuing)	-2.53M	4.97M	10.06M	11.01M	-1.59M	5.04M	16.51M	18.74M	-19.19M	-11.79M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	5.59M	4.38M	4.5M	3.7M	4.88M	62.91M	68.7M	68.14M	65.16M	62.14M
EPS (Diluted)+	-0.07	0.17	0.26	0.24	-0.04	0.07	0.34	0.37	-0.42	-0.27
EPS Growth %	-0.62%	3.46%	0.53%	-0.08%	-1.17%	2.86%	3.56%	0.09%	-2.14%	0.36%
EPS (Basic)	-0.07	0.17	0.27	0.25	-0.04	0.08	0.35	0.37	-0.42	-0.27
Diluted Shares Outstanding	32.18M	32.89M	38.97M	40.27M	39.49M	41.02M	42.72M	42.72M	42.64M	43.15M
Basic Shares Outstanding	32.18M	32.14M	37.44M	39.05M	39.49M	40.15M	41.37M	42.1M	42.64M	43.15M
Dividend Payout Ratio	-	-	0.05%	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	96.89M	107.29M	140.52M	128.54M	113.2M	164.52M	160.19M	183.54M	170.66M	158.27M
Cash & Short-Term Investments	36.31M	47.57M	64.38M	38.66M	36.32M	72.84M	42.18M	44.29M	39.89M	22.83M
Cash Only	24.88M	36.15M	44.35M	16.53M	26.89M	72.6M	36.76M	34.95M	37.75M	22.83M
Short-Term Investments	11.44M	11.41M	20.03M	22.13M	9.43M	240K	5.42M	9.34M	2.14M	0
Accounts Receivable	18.47M	14.45M	22.78M	19.59M	19.03M	24.56M	34.84M	29.25M	19.26M	25.64M
Days Sales Outstanding	86.98	64.85	84.26	69.82	83.43	94	92.55	75.66	92.73	94.19
Inventory	38.01M	40.15M	45.84M	58.57M	49.15M	51.52M	65.91M	89.63M	86.5M	85.08M
Days Inventory Outstanding	228.67	266.62	260.62	327.14	307.04	288.89	267.37	367.59	505.36	411.16
Other Current Assets	0	5.11M	7.52M	0	0	0	0	6.4M	12.36M	24.72M
Total Non-Current Assets+	55.01M	46.96M	70.68M	94.98M	110.14M	134.34M	172.26M	186.53M	188.04M	181.04M
Property, Plant & Equipment	31.42M	27.8M	46.53M	82.28M	100.34M	118.51M	144.74M	162.78M	169.15M	162.2M
Fixed Asset Turnover	2.47x	2.93x	2.12x	1.24x	0.83x	0.80x	0.95x	0.87x	0.45x	0.61x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	1.15M	1.05M	1.12M	1.68M	2.11M	1.93M	1.82M	1.71M
Long-Term Investments	7.69M	6.16M	12.58M	717K	5.96M	12.1M	19.74M	16.73M	12.48M	14.07M
Other Non-Current Assets	15.89M	13M	11.57M	11.99M	11.39M	2.05M	3.33M	2.86M	2.92M	1.65M
Total Assets+	151.9M	154.25M	211.2M	223.52M	223.35M	298.86M	332.44M	370.07M	358.7M	339.31M
Asset Turnover	0.51x	0.53x	0.47x	0.46x	0.37x	0.32x	0.41x	0.38x	0.21x	0.29x
Asset Growth %	-0.06%	0.02%	0.37%	0.06%	-0%	0.34%	0.11%	0.11%	-0.03%	-0.05%
Total Current Liabilities+	12.84M	13.05M	22.59M	28.71M	27.53M	39.08M	47.82M	75.33M	81.56M	74.18M
Accounts Payable	6.46M	6.69M	11.45M	13.34M	10.1M	12.67M	16.65M	10.08M	9.62M	12.36M
Days Payables Outstanding	38.86	44.43	65.07	74.5	63.08	71.05	67.54	41.36	56.18	59.71
Short-Term Debt	0	0	0	0	5.75M	10.41M	14.12M	47.08M	52.92M	47.26M
Deferred Revenue (Current)	0	238K	924K	1000K	396K	374K	946K	338K	305K	1000K
Other Current Liabilities	1.26M	6.01M	6.52M	9.32M	7.31M	9.9M	9.69M	11.55M	10.89M	9.21M
Current Ratio	7.55x	8.22x	6.22x	4.48x	4.11x	4.21x	3.35x	2.44x	2.09x	2.13x
Quick Ratio	4.59x	5.14x	4.19x	2.44x	2.33x	2.89x	1.97x	1.25x	1.03x	0.99x
Cash Conversion Cycle	276.79	287.04	279.81	322.46	327.39	311.84	292.39	401.89	541.91	445.64
Total Non-Current Liabilities+	1.49M	905K	289K	283K	3.06M	4.25M	4.39M	5M	8M	10.23M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	2.69M	2.37M	1.94M	1.32M	2.35M	1.98M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	1.49M	905K	289K	283K	366K	1.88M	2.45M	3.68M	5.65M	8.25M
Total Liabilities	14.34M	13.96M	22.88M	28.99M	30.59M	43.33M	52.21M	80.33M	89.56M	84.41M
Total Debt+	0	0	0	0	8.76M	13.23M	16.54M	48.88M	55.73M	49.78M
Net Debt	-24.88M	-36.15M	-44.35M	-16.53M	-18.13M	-59.37M	-20.22M	13.94M	17.98M	26.94M
Debt / Equity	-	-	-	-	0.05x	0.05x	0.06x	0.17x	0.21x	0.20x
Debt / EBITDA	-	-	-	-	1.68x	1.60x	0.83x	2.36x	-	-
Net Debt / EBITDA	-41.81x	-3.20x	-2.60x	-0.97x	-3.48x	-7.18x	-1.01x	0.67x	-	-
Interest Coverage	-	-	-	-	-	22.01x	60.55x	11.72x	-14.13x	-11.05x
Total Equity+	137.56M	140.29M	188.32M	194.53M	192.76M	255.53M	280.23M	289.75M	269.15M	254.91M
Equity Growth %	-0.05%	0.02%	0.34%	0.03%	-0.01%	0.33%	0.1%	0.03%	-0.07%	-0.05%
Book Value per Share	4.27	4.26	4.83	4.83	4.88	6.23	6.56	6.78	6.31	5.91
Total Shareholders' Equity	131.97M	135.91M	183.82M	190.84M	187.88M	192.62M	211.53M	221.61M	203.99M	192.77M
Common Stock	32K	32K	39K	39K	41K	42K	43K	44K	44K	45K
Retained Earnings	-70.62M	-64.98M	-54.84M	-45.18M	-47.78M	-44.55M	-29.97M	-14.16M	-32.04M	-43.66M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	4.38M	253K	3.41M	-1.97M	-4.86M	3.21M	6.3M	-3.12M	-6M	-8.66M
Minority Interest	5.59M	4.38M	4.5M	3.7M	4.88M	62.91M	68.7M	68.14M	65.16M	62.14M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	1.88M	12.5M	8.62M	3.22M	12.66M	5.87M	-3.31M	-8.77M	3.4M	-12.11M
Operating CF Margin %	0.02%	0.15%	0.09%	0.03%	0.15%	0.06%	-0.02%	-0.06%	0.04%	-0.12%
Operating CF Growth %	-0.51%	5.66%	-0.31%	-0.63%	2.93%	-0.54%	-1.56%	-1.65%	1.39%	-4.56%
Net Income	-2.53M	4.97M	10.06M	11.01M	-1.59M	5.04M	16.51M	18.74M	-17.88M	-11.79M
Depreciation & Amortization	5.49M	4.87M	4.42M	4.87M	5.53M	4.33M	7.08M	8.12M	8.72M	8.98M
Stock-Based Compensation	1.35M	1.1M	1.41M	1.93M	2.35M	2.62M	4.52M	4.01M	3.54M	3.1M
Deferred Taxes	-1.09M	1.88M	1.67M	981K	0	0	2.34M	104K	553K	265K
Other Non-Cash Items	218K	94K	173K	158K	2.35M	156K	-3.49M	-4.55M	1.43M	-925K
Working Capital Changes	-1.56M	-401K	-9.12M	-15.73M	4.02M	-6.29M	-30.26M	-35.18M	7.04M	-11.74M
Change in Receivables	-1.08M	3.46M	-7.98M	2.82M	441K	-5.33M	-9.66M	4.54M	9.31M	-6.9M
Change in Inventory	-45K	-2.96M	-4.74M	-14.63M	8.86M	-916K	-12.4M	-31.41M	1.07M	-737K
Change in Payables	-485K	524K	4.4M	2.31M	-3.14M	2.31M	3.56M	-5.52M	-162K	3.04M
Cash from Investing+	-2.48M	-1.11M	-36.46M	-30.83M	-8.33M	-16.42M	-38.81M	-25.22M	-2.6M	-4.45M
Capital Expenditures	-4.15M	-2.73M	-21.36M	-40.54M	-21.79M	-19.86M	-29.64M	-28.46M	-10.47M	-5.77M
CapEx % of Revenue	0.05%	0.03%	0.22%	0.4%	0.26%	0.21%	0.22%	0.2%	0.14%	0.06%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	469K	35K	169K	99K	13.46M	0	-9.16M	-2.23M	-708K	0
Cash from Financing+	-2.23M	1.3M	35.64M	213K	6.19M	52.66M	5.72M	38.03M	8.61M	-536K
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-112K	0	-465K	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	-39K	34.34M	213K	6K	694K	3.49M	2.23M	708K	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-2.27M	9.78M	-12.74M	-37.32M	-9.13M	-13.99M	-32.95M	-37.23M	-7.07M	-17.88M
FCF Margin %	-0.03%	0.12%	-0.13%	-0.36%	-0.11%	-0.15%	-0.24%	-0.26%	-0.09%	-0.18%
FCF Growth %	-2.23%	5.3%	-2.3%	-1.93%	0.76%	-0.53%	-1.36%	-0.13%	0.81%	-1.53%
FCF per Share	-0.07	0.30	-0.33	-0.93	-0.23	-0.34	-0.77	-0.87	-0.17	-0.41
FCF Conversion (FCF/Net Income)	-0.84x	2.22x	0.85x	0.33x	-4.87x	1.81x	-0.23x	-0.55x	-0.19x	1.04x
Interest Paid	0	0	0	0	0	0	0	0	1.56M	2.07M
Taxes Paid	284K	788K	714K	1.13M	749K	1.96M	3.18M	1.69M	686K	962K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-1.58%	4.06%	6.18%	5.04%	-1.34%	1.44%	5.44%	5.55%	-6.4%	-4.44%
Return on Invested Capital (ROIC)	-3.22%	4.44%	7.64%	5.66%	-0.13%	1.59%	4.24%	3.34%	-5.48%	-3.9%
Gross Margin	21.71%	32.43%	34.94%	36.18%	29.82%	31.75%	34.51%	36.93%	17.57%	23.99%
Net Margin	-2.87%	6.93%	10.28%	9.43%	-3.12%	3.4%	10.61%	11.2%	-23.59%	-11.7%
Debt / Equity	-	-	-	-	0.05x	0.05x	0.06x	0.17x	0.21x	0.20x
Interest Coverage	-	-	-	-	-	22.01x	60.55x	11.72x	-14.13x	-11.05x
FCF Conversion	-0.84x	2.22x	0.85x	0.33x	-4.87x	1.81x	-0.23x	-0.55x	-0.19x	1.04x
Revenue Growth	-7.18%	4.96%	21.3%	3.77%	-18.69%	14.54%	44.08%	2.71%	-46.29%	31.09%

Revenue by Segment

	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023
Substrates	-	-	65.63M	78.62M	81.01M	67.85M	75.59M	103.03M	111.09M	47.47M
Substrates Growth	-	-	-	19.79%	3.04%	-16.24%	11.40%	36.30%	7.83%	-57.27%
Raw materials and others	-	-	-	-	-	-	-	-	-	28.33M
Raw materials and others Growth	-	-	-	-	-	-	-	-	-	-
Raw Materials And Others	-	-	15.72M	20.05M	21.39M	15.41M	19.77M	34.37M	30.02M	-
Raw Materials And Others Growth	-	-	-	27.60%	6.66%	-27.97%	28.34%	73.80%	-12.64%	-

Revenue by Geography

	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023
China	17.45M	-	-	-	-	-	-	67.39M	55.41M	39.78M
China Growth	-	-	-	-	-	-	-	-	-17.78%	-28.22%
Taiwan	11.46M	-	-	-	-	-	-	16.84M	28.78M	8.65M
Taiwan Growth	-	-	-	-	-	-	-	-	70.89%	-69.94%
North America (primarily the United States)	-	-	-	-	-	-	-	-	20.42M	6.6M
North America (primarily the United States) Growth	-	-	-	-	-	-	-	-	-	-67.70%
Japan	11.55M	-	-	-	-	-	-	10.11M	11.72M	4.64M
Japan Growth	-	-	-	-	-	-	-	-	15.94%	-60.41%
Asia Pacific (excluding China, Taiwan and Japan)	-	-	-	-	-	-	-	-	-	3.81M
Asia Pacific (excluding China, Taiwan and Japan) Growth	-	-	-	-	-	-	-	-	-	-
Asia Pacific (excluding China, Taiwan, and Japan)	-	-	-	-	-	-	-	7.54M	4.19M	-
Asia Pacific (excluding China, Taiwan, and Japan) Growth	-	-	-	-	-	-	-	-	-44.46%	-
Europe	21.54M	19.52M	18.64M	23.96M	22.01M	18.18M	19.67M	23.07M	-	-
Europe Growth	-	-9.37%	-4.51%	28.54%	-8.11%	-17.42%	8.22%	17.26%	-	-
North America	10.29M	9.84M	8.08M	8.35M	10.02M	8.23M	10.97M	12.44M	-	-
North America Growth	-	-4.42%	-17.82%	3.32%	19.98%	-17.89%	33.34%	13.36%	-	-
C	-	13.73M	17.45M	24.96M	31.49M	26.8M	35.15M	-	-	-
C Growth	-	-	27.10%	43.07%	26.16%	-14.91%	31.18%	-	-	-
T	-	13.8M	15.37M	18.28M	20.08M	16.2M	16.48M	-	-	-
T Growth	-	-	11.38%	18.93%	9.84%	-19.29%	1.73%	-	-	-
J	-	9.14M	11.02M	13.26M	10.3M	6.26M	7.62M	-	-	-
J Growth	-	-	20.54%	20.36%	-22.27%	-39.27%	21.83%	-	-	-
Asia Pacific Excluding Japan And Taiwan	-	11.48M	10.8M	9.87M	8.49M	7.59M	5.46M	-	-	-
Asia Pacific Excluding Japan And Taiwan Growth	-	-	-5.97%	-8.61%	-13.97%	-10.56%	-28.11%	-	-	-
Asia Pacific (Excluding Japan And Taiwan)	11.21M	-	-	-	-	-	-	-	-	-
Asia Pacific (Excluding Japan And Taiwan) Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

AXT, Inc. (AXTI) reported $90.4M in revenue for fiscal year 2024. This represents a 13% decrease from $104.1M in 2011.

AXT, Inc. (AXTI) grew revenue by 31.1% over the past year. This is strong growth.

AXT, Inc. (AXTI) reported a net loss of $22.8M for fiscal year 2024.

Dividend & Returns

AXT, Inc. (AXTI) has a return on equity (ROE) of -4.4%. Negative ROE indicates the company is unprofitable.

AXT, Inc. (AXTI) had negative free cash flow of $18.9M in fiscal year 2024, likely due to heavy capital investments.