AXT Inc (AXTI) vs Camtek Ltd. (CAMT)

AXT Inc and Camtek Ltd. are both Semiconductor Equipment & Materials companies. Camtek Ltd. is the larger, with a market value of $4.3B against $2.4B — 1.8× the size. AXT Inc trades at the lower P/E: 70.3× against 122×. AXT Inc grew revenue faster over the last twelve months: 89.1% against 11.8%. AXT Inc has the higher net margin (18.5% vs 7.03%) and the lower return on invested capital (4.55% vs 13.0%). Across the 20 metrics below, Camtek Ltd. leads on 12 and AXT Inc on 8.

Valuation

Metric AXTI CAMT Semiconductor Equipment & Materials median
P/E 70.34 121.83 33.70
P/S 14.08 8.57 4.22
P/B 2.57 6.08 2.94
Price to free cash flow n/m 18.65 31.49
EV/EBITDA 142.42 33.92 22.64
EV/Sales 11.27 8.29 4.97
Earnings yield 1.42% 0.82% 2.02%
Free cash flow yield (0.81%) 5.36% 2.27%

Profitability

Metric AXTI CAMT Semiconductor Equipment & Materials median
Gross margin 44.02% 50.23% 46.86%
Operating margin 19.55% 23.46% 12.02%
Net margin 18.53% 7.03% 10.16%
Free cash flow margin 0.00% 0.00% 6.73%
Return on equity 5.58% 5.31% 5.31%
Return on assets 4.08% 3.07% 4.10%
Return on invested capital 4.55% 13.01% 6.36%

Growth

Metric AXTI CAMT Semiconductor Equipment & Materials median
Revenue growth (TTM) 89.14% 11.83% 15.82%
EPS growth (last fiscal year) (81.48%) (57.02%) (4.56%)
Revenue growth, 5-year CAGR (1.52%) 26.06% 10.11%
Net income growth, 5-year CAGR 0.00% 18.42% 0.00%

Health

Metric AXTI CAMT Semiconductor Equipment & Materials median
Debt to equity 0.08 0.69 0.09
Current ratio 3.80 7.38 3.56
Net debt to EBITDA 5.10 (1.06) (0.49)

Dividend

Metric AXTI CAMT Semiconductor Equipment & Materials median
Dividend yield — 0.00% 0.59%
Payout ratio — 0.00 0.16

Size

Metric AXTI CAMT Semiconductor Equipment & Materials median
Market cap 2.41b 4.29b 3.04b

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