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AXT Inc (AXTI) vs Onto Innovation Inc. (ONTO)

AXT Inc and Onto Innovation Inc. are both Semiconductor Equipment & Materials companies. Onto Innovation Inc. is the larger, with a market value of $10.9B against $4.0B — 2.7× the size. Onto Innovation Inc. trades at the lower P/E: 74.7× against 1,820×. AXT Inc grew revenue faster over the last twelve months: 45.8% against 8.08%. Onto Innovation Inc. has the higher net margin (11.8% vs 3.23%) and the higher return on invested capital (5.56% vs 0.44%). Across the 21 metrics below, Onto Innovation Inc. leads on 18 and AXT Inc on 3.

Valuation

Metric AXTI ONTO Semiconductor Equipment & Materials median
P/E 1,820.33 74.73 41.61
P/S 26.64 8.87 4.69
P/B 3.68 5.17 3.47
Price to free cash flow n/m 39.34 48.35
EV/EBITDA 220.21 44.08 30.54
EV/Sales 23.73 8.50 5.65
Earnings yield 0.05% 1.34% 1.34%
Free cash flow yield (0.59%) 2.54% 1.86%

Profitability

Metric AXTI ONTO Semiconductor Equipment & Materials median
Gross margin 32.18% 50.36% 43.95%
Operating margin 3.09% 12.02% 10.32%
Net margin 3.23% 11.84% 7.45%
Free cash flow margin (15.59%) 22.54% 6.77%
Return on equity 0.73% 6.82% 4.78%
Return on assets 0.57% 4.54% 3.62%
Return on invested capital 0.44% 5.56% 6.10%

Growth

Metric AXTI ONTO Semiconductor Equipment & Materials median
Revenue growth (TTM) 45.81% 8.08% 14.60%
EPS growth (last fiscal year) (81.48%) (31.53%) (4.56%)
Revenue growth, 5-year CAGR (1.52%) 12.55% 10.11%
Net income growth, 5-year CAGR 0.00% 34.54% 0.00%

Health

Metric AXTI ONTO Semiconductor Equipment & Materials median
Debt to equity 0.09 0.77 0.09
Current ratio 4.77 9.73 3.66
Net debt to EBITDA 5.10 (3.39) (0.49)

Dividend

Metric AXTI ONTO Semiconductor Equipment & Materials median
Dividend yield — — 0.46%
Payout ratio — — 0.19

Size

Metric AXTI ONTO Semiconductor Equipment & Materials median
Market cap 3.99b 10.89b 3.46b

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