Last 48 quarters of trend data · Technology · Semiconductors
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | -148.94 | 100.11 | — | — | — | — | — | — | — | — | — | — | — | — | — | 36.02 | 12.88 | 11.27 | 23.65 | 31.46 | 23.14 |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | +14.5% | -44.3% | -58.9% | -35.1% | -34.2% | -69.8% | |
| P/S Ratio | 41.93 | 24.03 | 28.21 | 7.93 | 1.76 | 1.27 | 0.79 | 0.94 | 1.10 | 1.30 | 2.17 | 1.26 | 1.47 | 1.97 | 2.18 | 1.75 | 2.05 | 1.58 | 1.89 | 2.50 | 2.57 |
| — | +1791.6% | +3456.6% | +746.3% | +59.4% | -2.6% | -63.5% | -25.5% | -25.0% | -33.8% | -0.2% | -27.9% | -28.0% | +24.9% | +15.4% | -30.1% | -20.4% | -54.6% | -52.5% | -32.9% | +4.4% | |
| P/B Ratio | 9.58 | 4.81 | 9.02 | 2.18 | 0.82 | 0.38 | 0.25 | 0.37 | 0.39 | 0.55 | 0.74 | 0.38 | 0.38 | 0.53 | 0.59 | 0.65 | 1.01 | 0.87 | 1.04 | 1.34 | 1.30 |
| — | +1166.1% | +3514.2% | +491.7% | +108.7% | -31.4% | -66.5% | -3.4% | +2.8% | +3.7% | +26.9% | -40.8% | -62.2% | -38.5% | -43.7% | -52.0% | -22.3% | -50.5% | -45.9% | -14.6% | +4.6% | |
| P/FCF | — | 321.47 | — | 145.19 | — | — | — | 21.34 | — | 63.66 | — | 12.06 | — | 32.58 | — | 55.94 | — | — | — | — | — |
| — | — | — | +580.5% | — | — | — | +76.9% | — | +95.4% | — | -78.4% | — | — | — | — | — | — | — | — | — | |
| EV / EBITDA | — | 82.60 | 902.09 | — | 50.18 | — | — | — | — | 117.85 | — | — | — | — | — | 47.05 | 11.32 | 8.33 | 12.87 | 17.72 | 19.47 |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | +165.4% | -41.8% | -56.8% | -41.0% | -32.0% | +5.3% | |
| EV / EBIT | — | 101.90 | — | — | — | — | — | — | — | — | — | — | — | — | — | 26.54 | 9.96 | 7.83 | 15.19 | 26.36 | 18.65 |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | +0.7% | -46.6% | -59.8% | -38.4% | -22.1% | -30.4% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 12.7% | 44.9% | 29.6% | 20.9% | 22.3% | 8.0% | -6.4% | 17.6% | 24.0% | 27.4% | 26.9% | 22.6% | 10.7% | 9.2% | 26.3% | 32.1% | 42.0% | 39.1% | 33.6% | 32.2% | 33.3% |
| — | +463.1% | +562.2% | +19.3% | -7.3% | -70.9% | -123.9% | -22.5% | +123.6% | +197.1% | +2.0% | -29.4% | -74.4% | -76.4% | -21.5% | -0.3% | +26.3% | +7.8% | -8.8% | -5.1% | -4.0% | |
| Operating Margin | -24.9% | 21.9% | -5.9% | -16.6% | -4.0% | -37.5% | -53.1% | -24.6% | -14.4% | -6.8% | -14.8% | -17.4% | -38.7% | -36.8% | -22.9% | -3.7% | 13.0% | 13.4% | 9.3% | 8.0% | 6.9% |
| — | +158.4% | +88.9% | +32.3% | +72.1% | -455.9% | -259.8% | -40.9% | +62.8% | +81.7% | +35.5% | -366.5% | -398.4% | -374.8% | -345.1% | -146.5% | +87.3% | +15.7% | -17.9% | +13.3% | -18.9% | |
| Net Margin | -24.1% | 23.4% | -6.0% | -15.4% | -6.8% | -39.0% | -45.5% | -20.3% | -12.4% | -5.4% | -9.2% | -17.7% | -33.5% | -27.4% | -17.3% | 5.0% | 16.4% | 14.0% | 8.0% | 7.9% | 11.0% |
| — | +160.0% | +86.8% | +24.0% | +45.1% | -618.1% | -395.1% | -14.3% | +63.0% | +80.2% | +46.8% | -454.2% | -304.8% | -294.9% | -316.2% | -36.3% | +48.9% | +8.1% | -26.9% | +2.9% | +182.5% |
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -7.2% | 1.7% | -0.5% | -1.2% | -0.8% | -2.9% | -3.5% | -2.0% | -1.1% | -0.6% | -0.8% | -1.3% | -2.1% | -1.8% | -1.2% | 0.5% | 2.0% | 1.9% | 1.1% | 1.1% | 1.4% |
| — | +160.0% | +86.3% | +36.8% | +28.6% | -401.6% | -350.3% | -44.9% | +48.3% | +68.3% | +32.7% | -389.0% | -206.6% | -193.6% | -203.9% | -56.4% | +43.3% | +15.9% | -16.3% | +18.6% | +180.6% | |
| ROA | -5.5% | 1.4% | -0.4% | -0.9% | -0.6% | -2.1% | -2.6% | -1.5% | -0.8% | -0.4% | -0.6% | -1.0% | -1.7% | -1.4% | -0.9% | 0.4% | 1.6% | 1.6% | 0.9% | 0.9% | 1.2% |
| — | +168.2% | +85.9% | +36.9% | +31.0% | -387.4% | -344.3% | -41.7% | +50.8% | +69.6% | +35.2% | -381.9% | -206.2% | -190.1% | -196.3% | -59.9% | +31.0% | +10.5% | -17.2% | +17.8% | +181.6% | |
| ROIC | -5.9% | 1.6% | -0.4% | -1.0% | -0.3% | -1.9% | -2.8% | -1.6% | -0.9% | -0.5% | -0.9% | -0.9% | -1.7% | -1.7% | -1.1% | -0.2% | 1.2% | 1.4% | 1.0% | 0.9% | 0.8% |
| — | +184.4% | +86.8% | +35.7% | +65.0% | -283.2% | -221.9% | -71.9% | +50.0% | +71.6% | +20.3% | -271.5% | -246.9% | -221.3% | -206.1% | -127.8% | +56.5% | +5.7% | -21.8% | +19.1% | -16.0% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 | Q3 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.19 | 0.09 | 0.21 | 0.19 | 0.26 | 0.24 | 0.22 | 0.20 | 0.21 | 0.20 | 0.20 | 0.21 | 0.18 | 0.17 | 0.19 | 0.17 | 0.16 | 0.12 | 0.08 | 0.06 | 0.06 |
| — | -62.9% | -5.8% | -0.8% | +24.7% | +19.4% | +14.3% | -5.7% | +17.0% | +17.9% | +3.2% | +22.7% | +15.4% | +40.4% | +141.6% | +185.9% | +157.4% | +148.5% | +54.8% | +14.0% | +98.4% | |
| Debt / EBITDA | — | 6.64 | 83.26 | — | 53.84 | — | — | — | — | 146.77 | — | — | — | — | — | 45.77 | 6.78 | 4.80 | 3.96 | 3.29 | 3.96 |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | +1291.2% | +71.0% | +103.4% | +56.1% | -18.2% | +102.2% | |
| Current Ratio | 2.72 | 4.77 | 2.59 | 2.72 | 1.76 | 1.82 | 1.99 | 2.13 | 2.13 | 2.24 | 2.27 | 2.09 | 2.37 | 2.46 | 2.43 | 2.44 | 2.49 | 2.50 | 3.42 | 3.35 | 4.27 |
| — | +161.5% | +30.5% | +27.6% | -17.2% | -18.7% | -12.6% | +2.0% | -10.1% | -8.8% | -6.5% | -14.1% | -4.8% | -1.7% | -28.9% | -27.3% | -41.8% | -41.8% | -17.2% | -20.4% | +4.3% | |
| Quick Ratio | 1.82 | 4.00 | 1.67 | 1.82 | 0.85 | 0.82 | 0.92 | 0.99 | 1.04 | 1.09 | 1.08 | 1.03 | 1.09 | 1.17 | 1.17 | 1.25 | 1.28 | 1.41 | 1.95 | 1.97 | 2.65 |
| — | +390.1% | +82.0% | +84.6% | -18.2% | -25.4% | -15.0% | -4.4% | -5.0% | -6.2% | -7.8% | -17.2% | -14.3% | -17.5% | -39.9% | -36.8% | -51.9% | -48.9% | -28.9% | -31.8% | +16.6% | |
| Interest Coverage | -16.14 | — | — | -7.54 | -1.96 | -34.12 | -35.96 | -16.43 | -4.78 | -2.82 | -4.08 | -8.13 | -16.10 | -14.05 | -7.86 | 4.72 | 25.18 | 41.28 | 26.31 | 21.39 | 100.11 |
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Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying AXTI stock.
AXT, Inc.'s current P/E is -148.9x. The average P/E over the last 1 quarters is 100.1x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
AXT, Inc.'s current operating margin is -24.9%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking AXT, Inc.'s business trajectory between earnings reports.