AXT Inc

AXTI Technology Semiconductor Equipment & Materials

AXT Inc’s revenue for fiscal 2025 (year ended December 2025) was $88.3 million, down 11.1% from fiscal 2024.

Revenue
+162.6%
EPS
+1,265.3%
Free cash flow
+173.3%
Total debt
+17.7%

Quarter to September 2026, against a year earlier

38.19 1.47 +4.00%
Market cap
$2.4B
P/E
70.3×
Fwd P/E
49.2×
Dividend yield
—
F-score
3/9
Altman Z
3.40
Beneish M
−2.10
Dividend safety
n/a

AXT Inc (AXTI) Free cash flow margin

Alert me on Free cash flow margin

AXT Inc's free cash flow margin over the twelve months to 30 September 2026 was 0.00%, up 21.3 percentage points from fiscal 2025 (−21.3%). Over the past ten years it has ranged from −36.4% (fiscal 2018) to 12.1% (fiscal 2016); the current reading is higher than 36% of that period. That is below the Semiconductor Equipment & Materials industry median of 6.73% and below the Technology sector median of 0.67%.

Free cash flow margin, annual

Embed this chart

Annual newest first

Period Free cash flow margin Change (points)
FY2025 −21.3% (3.26)
FY2024 −18.0% (8.67)
FY2023 −9.33% 17.05
FY2022 −26.4% (2.40)
FY2021 −24.0% (9.31)
FY2020 −14.7% (3.70)
FY2019 −11.0% 25.38
FY2018 −36.4% (23.44)
FY2017 −12.9% (24.97)
FY2016 12.1% 14.99

Against its own ten years

Low −36.4% High 12.1%
Ten-year median −14.7%
Current reading's percentile 36

Free cash flow margin against peers

Company Free cash flow margin
VECO Veeco Instruments Inc. compare 17.3%
COHU Cohu, Inc. compare 9.89%
ACLS Axcelis Technologies, Inc. compare 6.73%
KLIC Kulicke and Soffa Industries, Inc. compare 4.34%
IPGP IPG Photonics Corporation compare 3.39%
AMBA Ambarella, Inc. compare 2.33%
AXTI AXT Inc 0.00%
UCTT Ultra Clean Holdings, Inc. compare −6.84%
ACMR ACM Research, Inc. compare −11.5%
Semiconductor Equipment & Materials industry median 6.73%
Technology sector median 0.67%
Market median 0.00%

What Free cash flow margin is

Free Cash Flow Margin tells an investor how much of each sale turns into cash the company keeps after paying for investment in its assets.

(Operating Cash Flow + Property, Plant, Equipment Change (Net) + Intangible Assets Change (Net)) ÷ Revenue

The full definition of Free cash flow margin →

More on AXTI