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

38.85 2.13 +5.80%
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) Operating margin

Alert me on Operating margin

AXT Inc's operating margin over the twelve months to 30 September 2026 was 19.6%, up 44.4 percentage points from fiscal 2025 (−24.9%). Over the past ten years it has ranged from −28.5% (fiscal 2023) to 12.8% (fiscal 2017); the current reading is higher than 18% of that period. That is above the Semiconductor Equipment & Materials industry median of 12.0% and above the Technology sector median of 0.02%.

Operating margin, annual

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Annual newest first

Period Operating margin Change (points)
FY2025 −24.9% (9.98)
FY2024 −14.9% 13.56
FY2023 −28.5% (37.36)
FY2022 8.90% (0.49)
FY2021 9.39% 5.26
FY2020 4.13% 4.51
FY2019 −0.38% (12.24)
FY2018 11.9% (0.95)
FY2017 12.8% 4.91
FY2016 7.90% 14.22

Quarterly newest first

Period Operating margin Change (points)
Sep 2026 38.7% 16.82
Jun 2026 21.9% 27.79
Mar 2026 −5.89% 10.75
Dec 2025 −16.6% (12.62)
43 more quarters

Against its own ten years

Low −28.5% High 12.8%
Ten-year median 4.13%
Current reading's percentile 100

Operating margin against peers

Company Operating margin
AXTI AXT Inc 19.6%
ACMR ACM Research, Inc. compare 13.3%
KLIC Kulicke and Soffa Industries, Inc. compare 13.2%
ACLS Axcelis Technologies, Inc. compare 10.3%
UCTT Ultra Clean Holdings, Inc. compare 4.32%
VECO Veeco Instruments Inc. compare 3.02%
IPGP IPG Photonics Corporation compare 1.89%
COHU Cohu, Inc. compare −2.38%
AMBA Ambarella, Inc. compare −14.9%
Semiconductor Equipment & Materials industry median 12.0%
Technology sector median 0.02%
Market median 0.00%

What Operating margin is

EBIT Margin tells an investor how much operating profit, before interest and taxes, a company keeps from each unit of revenue.

EBIT ÷ Revenue

The full definition of Operating margin →

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