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AXT Inc (AXTI) vs IPG Photonics Corporation (IPGP)

AXT Inc and IPG Photonics Corporation are both Semiconductor Equipment & Materials companies. AXT Inc and IPG Photonics Corporation are of similar size ($2.6B and $2.4B). IPG Photonics Corporation trades at the lower P/E: 65.0× against 70.3×. AXT Inc grew revenue faster over the last twelve months: 89.1% against 14.8%. AXT Inc has the higher net margin (18.5% vs 3.65%) and the higher return on invested capital (4.55% vs 1.06%). Across the 21 metrics below, IPG Photonics Corporation leads on 12 and AXT Inc on 9.

Valuation

Metric AXTI IPGP Semiconductor Equipment & Materials median
P/E 70.34 64.97 33.70
P/S 14.08 2.39 4.22
P/B 2.57 1.23 2.94
Price to free cash flow n/m 70.44 31.49
EV/EBITDA 142.42 23.54 22.64
EV/Sales 11.27 1.58 4.97
Earnings yield 1.42% 1.54% 2.02%
Free cash flow yield (0.81%) 1.42% 2.27%

Profitability

Metric AXTI IPGP Semiconductor Equipment & Materials median
Gross margin 44.02% 38.71% 46.86%
Operating margin 19.55% 1.89% 12.02%
Net margin 18.53% 3.65% 10.16%
Free cash flow margin 0.00% 3.39% 6.73%
Return on equity 5.58% 1.90% 5.31%
Return on assets 4.08% 1.66% 4.10%
Return on invested capital 4.55% 1.06% 6.36%

Growth

Metric AXTI IPGP Semiconductor Equipment & Materials median
Revenue growth (TTM) 89.14% 14.78% 15.82%
EPS growth (last fiscal year) (81.48%) 117.85% (4.56%)
Revenue growth, 5-year CAGR (1.52%) (3.52%) 10.11%
Net income growth, 5-year CAGR 0.00% (27.90%) 0.00%

Health

Metric AXTI IPGP Semiconductor Equipment & Materials median
Debt to equity 0.08 0.00 0.09
Current ratio 3.80 5.99 3.56
Net debt to EBITDA 5.10 (12.73) (0.49)

Dividend

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

Size

Metric AXTI IPGP Semiconductor Equipment & Materials median
Market cap 2.41b 2.64b 3.04b

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