Axcelis Technologies, Inc. (ACLS) vs IPG Photonics Corporation (IPGP)

Axcelis Technologies, Inc. and IPG Photonics Corporation are both Semiconductor Equipment & Materials companies. Axcelis Technologies, Inc. and IPG Photonics Corporation are of similar size ($2.8B and $2.6B). Axcelis Technologies, Inc. trades at the lower P/E: 26.6× against 65.0×. IPG Photonics Corporation grew revenue faster over the last twelve months: 14.8% against 4.35%. Axcelis Technologies, Inc. has the higher net margin (11.8% vs 3.65%) and the higher return on invested capital (8.43% vs 1.06%). Across the 22 metrics below, Axcelis Technologies, Inc. leads on 14 and IPG Photonics Corporation on 8.

Valuation

Metric ACLS IPGP Semiconductor Equipment & Materials median
P/E 26.59 64.97 33.70
P/S 3.13 2.39 4.22
P/B 2.50 1.23 2.94
Price to free cash flow 46.45 70.44 31.49
EV/EBITDA 22.71 23.54 22.64
EV/Sales 2.66 1.58 4.97
Earnings yield 3.76% 1.54% 2.02%
Free cash flow yield 2.15% 1.42% 2.27%

Profitability

Metric ACLS IPGP Semiconductor Equipment & Materials median
Gross margin 42.81% 38.71% 46.86%
Operating margin 10.31% 1.89% 12.02%
Net margin 11.75% 3.65% 10.16%
Free cash flow margin 6.73% 3.39% 6.73%
Return on equity 9.80% 1.90% 5.31%
Return on assets 7.39% 1.66% 4.10%
Return on invested capital 8.43% 1.06% 6.36%

Growth

Metric ACLS IPGP Semiconductor Equipment & Materials median
Revenue growth (TTM) 4.35% 14.78% 15.82%
EPS growth (last fiscal year) (38.21%) 117.85% (4.56%)
Revenue growth, 5-year CAGR 12.07% (3.52%) 10.11%
Net income growth, 5-year CAGR 19.19% (27.90%) 0.00%

Health

Metric ACLS IPGP Semiconductor Equipment & Materials median
Debt to equity 0.04 0.00 0.09
Current ratio 4.43 5.99 3.56
Net debt to EBITDA (2.51) (12.73) (0.49)

Dividend

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

Size

Metric ACLS IPGP Semiconductor Equipment & Materials median
Market cap 2.78b 2.64b 3.04b

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