Axcelis Technologies, Inc. (ACLS) vs Ambarella, Inc. (AMBA)

Axcelis Technologies, Inc. and Ambarella, Inc. are both Semiconductor Equipment & Materials companies. Axcelis Technologies, Inc. is the larger, with a market value of $2.8B against $2.4B — 1.1× the size. Ambarella, Inc. has negative trailing earnings, so its P/E is not meaningful; Axcelis Technologies, Inc. trades at 26.6×. Ambarella, Inc. grew revenue faster over the last twelve months: 20.0% against 4.35%. Axcelis Technologies, Inc. has the higher net margin (11.8% vs −13.5%) and the higher return on invested capital (8.43% vs −11.2%). Across the 19 metrics below, Axcelis Technologies, Inc. leads on 15 and Ambarella, Inc. on 4.

Valuation

Metric ACLS AMBA Semiconductor Equipment & Materials median
P/E 26.59 n/m 33.70
P/S 3.13 5.85 4.22
P/B 2.50 3.94 2.94
Price to free cash flow 46.45 n/m 31.49
EV/EBITDA 22.71 n/m 22.64
EV/Sales 2.66 5.20 4.97
Earnings yield 3.76% (2.32%) 2.02%
Free cash flow yield 2.15% (0.23%) 2.27%

Profitability

Metric ACLS AMBA Semiconductor Equipment & Materials median
Gross margin 42.81% 58.52% 46.86%
Operating margin 10.31% (14.90%) 12.02%
Net margin 11.75% (13.48%) 10.16%
Free cash flow margin 6.73% 2.33% 6.73%
Return on equity 9.80% (9.41%) 5.31%
Return on assets 7.39% (7.58%) 4.10%
Return on invested capital 8.43% (11.19%) 6.36%

Growth

Metric ACLS AMBA Semiconductor Equipment & Materials median
Revenue growth (TTM) 4.35% 20.04% 15.82%
EPS growth (last fiscal year) (38.21%) 37.32% (4.56%)
Revenue growth, 5-year CAGR 12.07% 11.87% 10.11%
Net income growth, 5-year CAGR 19.19% 0.00% 0.00%

Health

Metric ACLS AMBA Semiconductor Equipment & Materials median
Debt to equity 0.04 0.00 0.09
Current ratio 4.43 2.85 3.56
Net debt to EBITDA (2.51) 5.48 (0.49)

Dividend

Metric ACLS AMBA Semiconductor Equipment & Materials median
Dividend yield — — 0.59%
Payout ratio — — 0.16

Size

Metric ACLS AMBA Semiconductor Equipment & Materials median
Market cap 2.78b 2.44b 3.04b

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