AXT Inc (AXTI) vs Cohu, Inc. (COHU)

AXT Inc and Cohu, Inc. are both Semiconductor Equipment & Materials companies. AXT Inc is the larger, with a market value of $3.8B against $2.6B — 1.5× the size. Cohu, Inc. has negative trailing earnings, so its P/E is not meaningful; AXT Inc trades at 1,716×. AXT Inc grew revenue faster over the last twelve months: 45.8% against 32.7%. AXT Inc has the higher net margin (3.23% vs −7.43%) and the higher return on invested capital (0.44% vs −3.94%). Across the 19 metrics below, AXT Inc leads on 10 and Cohu, Inc. on 9.

Valuation

Metric AXTI COHU Semiconductor Equipment & Materials median
P/E 1,715.67 n/m 45.03
P/S 25.11 4.60 4.64
P/B 3.47 3.10 3.22
Price to free cash flow n/m 67.95 48.18
EV/EBITDA 205.99 189.16 33.11
EV/Sales 22.20 4.22 5.52
Earnings yield 0.06% (1.64%) 1.41%
Free cash flow yield (0.62%) 1.47% 1.67%

Profitability

Metric AXTI COHU Semiconductor Equipment & Materials median
Gross margin 32.18% 43.95% 43.95%
Operating margin 3.09% (6.90%) 10.32%
Net margin 3.23% (7.43%) 7.45%
Free cash flow margin (15.59%) 6.77% 6.77%
Return on equity 0.73% (4.84%) 4.78%
Return on assets 0.57% (3.42%) 3.62%
Return on invested capital 0.44% (3.94%) 6.10%

Growth

Metric AXTI COHU Semiconductor Equipment & Materials median
Revenue growth (TTM) 45.81% 32.66% 14.60%
EPS growth (last fiscal year) (81.48%) (6.71%) (4.56%)
Revenue growth, 5-year CAGR (1.52%) (6.56%) 10.11%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric AXTI COHU Semiconductor Equipment & Materials median
Debt to equity 0.09 0.38 0.09
Current ratio 4.77 5.74 3.66
Net debt to EBITDA 5.10 11.87 (0.49)

Dividend

Metric AXTI COHU Semiconductor Equipment & Materials median
Dividend yield — — 0.42%
Payout ratio — — 0.19

Size

Metric AXTI COHU Semiconductor Equipment & Materials median
Market cap 3.80b 2.60b 3.80b

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