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

AXT Inc and IPG Photonics Corporation are both Semiconductor Equipment & Materials companies. AXT Inc is the larger, with a market value of $5.1B against $3.3B — 1.6× the size. IPG Photonics Corporation trades at the lower P/E: 118× against 2,631×. AXT Inc grew revenue faster over the last twelve months: 45.8% against 13.0%. AXT Inc has the higher net margin (3.23% vs 2.58%) and the higher return on invested capital (0.44% vs 0.40%). Across the 21 metrics below, IPG Photonics Corporation leads on 15 and AXT Inc on 6.

Valuation

Metric AXTI IPGP Semiconductor Equipment & Materials median
P/E 2,631.33 118.36 54.39
P/S 38.51 3.10 6.08
P/B 5.32 1.56 4.89
Price to free cash flow n/m 149.70 60.92
EV/EBITDA 330.45 40.35 39.95
EV/Sales 35.61 2.30 6.36
Earnings yield 0.04% 0.84% 1.14%
Free cash flow yield (0.40%) 0.67% 1.28%

Profitability

Metric AXTI IPGP Semiconductor Equipment & Materials median
Gross margin 32.18% 38.35% 43.95%
Operating margin 3.09% 0.75% 10.32%
Net margin 3.23% 2.58% 7.45%
Free cash flow margin (15.59%) 2.07% 6.77%
Return on equity 0.73% 1.30% 4.78%
Return on assets 0.57% 1.15% 3.62%
Return on invested capital 0.44% 0.40% 6.10%

Growth

Metric AXTI IPGP Semiconductor Equipment & Materials median
Revenue growth (TTM) 45.81% 13.04% 14.60%
EPS growth (last fiscal year) (81.48%) 117.85% —
Revenue growth, 5-year CAGR (1.52%) (3.52%) 8.85%
Net income growth, 5-year CAGR 0.00% (27.90%) 0.00%

Health

Metric AXTI IPGP Semiconductor Equipment & Materials median
Debt to equity 0.09 0.00 0.09
Current ratio 4.77 6.18 3.66
Net debt to EBITDA 5.10 (12.73) (0.49)

Dividend

Metric AXTI IPGP Semiconductor Equipment & Materials median
Dividend yield — — 0.85%
Payout ratio 0.00 0.00 0.00

Size

Metric AXTI IPGP Semiconductor Equipment & Materials median
Market cap 5.14b 3.29b 4.63b

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