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AXT Inc (AXTI) vs Veeco Instruments Inc. (VECO)

AXT Inc and Veeco Instruments Inc. are both Semiconductor Equipment & Materials companies. AXT Inc is the larger, with a market value of $3.8B against $2.8B — 1.4× the size. Veeco Instruments Inc. trades at the lower P/E: 113× against 1,716×. AXT Inc grew revenue faster over the last twelve months: 45.8% against −2.52%. Veeco Instruments Inc. has the higher net margin (3.35% vs 3.23%) and the higher return on invested capital (1.64% vs 0.44%). Across the 20 metrics below, Veeco Instruments Inc. leads on 16 and AXT Inc on 4.

Valuation

Metric AXTI VECO Semiconductor Equipment & Materials median
P/E 1,715.67 112.62 45.03
P/S 25.11 3.82 4.64
P/B 3.47 2.89 3.22
Price to free cash flow n/m 30.65 48.18
EV/EBITDA 205.99 63.71 33.11
EV/Sales 22.20 3.57 5.52
Earnings yield 0.06% 0.89% 1.41%
Free cash flow yield (0.62%) 3.26% 1.67%

Profitability

Metric AXTI VECO Semiconductor Equipment & Materials median
Gross margin 32.18% 37.92% 43.95%
Operating margin 3.09% 2.69% 10.32%
Net margin 3.23% 3.35% 7.45%
Free cash flow margin (15.59%) 12.47% 6.77%
Return on equity 0.73% 2.60% 4.78%
Return on assets 0.57% 1.70% 3.62%
Return on invested capital 0.44% 1.64% 6.10%

Growth

Metric AXTI VECO Semiconductor Equipment & Materials median
Revenue growth (TTM) 45.81% (2.52%) 14.60%
EPS growth (last fiscal year) (81.48%) (52.03%) (4.56%)
Revenue growth, 5-year CAGR (1.52%) 7.90% 10.11%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric AXTI VECO Semiconductor Equipment & Materials median
Debt to equity 0.09 0.25 0.09
Current ratio 4.77 3.93 3.66
Net debt to EBITDA 5.10 (2.95) (0.49)

Dividend

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

Size

Metric AXTI VECO Semiconductor Equipment & Materials median
Market cap 3.80b 2.76b 3.80b

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