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Stocks · Technology · Semiconductors & Related Devices

AXT INC

AXTI Clue Score21
United States Fiscal year ends December CIK 0001051627
$68.46 -4.47% Close, 9 Oct 2026
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Price $68.46 +755.75% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue81.3Operating income6.4Net income5.6EPS, diluted0.17Fiscal year 2017Revenue98.7 +21.3%Operating income12.6Net income10.1 +80.1%EPS, diluted0.26 +52.9%Fiscal year 2018Revenue102.4 +3.8%Operating income12.1Net income9.7 −4.9%EPS, diluted0.24 −7.7%Fiscal year 2019Revenue83.3 −18.7%Operating income−0.3Net income−2.6 −126.9%EPS, diluted−0.07 −129.2%Fiscal year 2020Revenue95.4 +14.5%Operating income3.9Net income3.2EPS, diluted0.07Fiscal year 2021Revenue137.4 +44.1%Operating income12.9Net income14.6 +350.1%EPS, diluted0.34 +385.7%Fiscal year 2022Revenue141.1 +2.7%Operating income12.6Net income15.8 +8.5%EPS, diluted0.37 +8.8%Fiscal year 2023Revenue75.8 −46.3%Operating income−21.6Net income−17.9 −213.1%EPS, diluted−0.42 −213.5%Fiscal year 2024Revenue99.4 +31.1%Operating income−14.8Net income−11.6EPS, diluted−0.27Fiscal year 2025Revenue88.3 −11.1%Operating income−22.0Net income−21.3EPS, diluted−0.49
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 81.3 98.7 102.4 83.3 95.4 137.4 141.1 75.8 99.4 88.3
Growth +21.3% +3.8% −18.7% +14.5% +44.1% +2.7% −46.3% +31.1% −11.1%
Operating income 6.4 12.6 12.1 −0.3 3.9 12.9 12.6 −21.6 −14.8 −22.0
Net income 5.6 10.1 9.7 −2.6 3.2 14.6 15.8 −17.9 −11.6 −21.3
Growth +80.1% −4.9% −126.9% +350.1% +8.5% −213.1%
EPS, diluted 0.17 0.26 0.24 −0.07 0.07 0.34 0.37 −0.42 −0.27 −0.49
Growth +52.9% −7.7% −129.2% +385.7% +8.8% −213.5%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin32.4%Operating margin7.9%Net margin6.9%Free cash flow margin12.0%Fiscal year 2017Gross margin34.9%Operating margin12.8%Net margin10.3%Free cash flow margin−12.9%Fiscal year 2018Gross margin36.2%Operating margin11.9%Net margin9.4%Free cash flow margin−36.4%Fiscal year 2019Gross margin29.8%Operating margin−0.4%Net margin−3.1%Free cash flow margin−11.0%Fiscal year 2020Gross margin31.7%Operating margin4.1%Net margin3.4%Free cash flow margin−14.7%Fiscal year 2021Gross margin34.5%Operating margin9.4%Net margin10.6%Free cash flow margin−24.0%Fiscal year 2022Gross margin36.9%Operating margin8.9%Net margin11.2%Free cash flow margin−26.4%Fiscal year 2023Gross margin17.6%Operating margin−28.5%Net margin−23.6%Free cash flow margin−9.3%Fiscal year 2024Gross margin24.0%Operating margin−14.9%Net margin−11.7%Free cash flow margin−18.0%Fiscal year 2025Gross margin12.7%Operating margin−24.9%Net margin−24.1%Free cash flow margin−21.3%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 32.4% 34.9% 36.2% 29.8% 31.7% 34.5% 36.9% 17.6% 24.0% 12.7%
Operating margin 7.9% 12.8% 11.9% −0.4% 4.1% 9.4% 8.9% −28.5% −14.9% −24.9%
Net margin 6.9% 10.3% 9.4% −3.1% 3.4% 10.6% 11.2% −23.6% −11.7% −24.1%
Free cash flow margin 12.0% −12.9% −36.4% −11.0% −14.7% −24.0% −26.4% −9.3% −18.0% −21.3%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow12.5Capital expenditure−2.7Free cash flow9.8Fiscal year 2017Operating cash flow8.6Capital expenditure−21.4Free cash flow−12.7 −230.3%Fiscal year 2018Operating cash flow3.2Capital expenditure−40.5Free cash flow−37.3Fiscal year 2019Operating cash flow12.7Capital expenditure−21.8Free cash flow−9.1Fiscal year 2020Operating cash flow5.9Capital expenditure−19.9Free cash flow−14.0Fiscal year 2021Operating cash flow−3.3Capital expenditure−29.6Free cash flow−33.0Fiscal year 2022Operating cash flow−8.8Capital expenditure−28.5Free cash flow−37.2Fiscal year 2023Operating cash flow3.4Capital expenditure−10.5Free cash flow−7.1Fiscal year 2024Operating cash flow−12.1Capital expenditure−5.8Free cash flow−17.9Fiscal year 2025Operating cash flow−12.8Capital expenditure−6.0Free cash flow−18.8
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 12.5 8.6 3.2 12.7 5.9 −3.3 −8.8 3.4 −12.1 −12.8
Capital expenditure −2.7 −21.4 −40.5 −21.8 −19.9 −29.6 −28.5 −10.5 −5.8 −6.0
Free cash flow 9.8 −12.7 −37.3 −9.1 −14.0 −33.0 −37.2 −7.1 −17.9 −18.8
Growth −230.3%

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash36.2Shareholders’ equity133.0Fiscal year 2017Cash44.4Shareholders’ equity183.8Fiscal year 2018Cash16.5Shareholders’ equity190.8Fiscal year 2019Cash26.9Shareholders’ equity187.9Fiscal year 2020Cash72.6Shareholders’ equity192.6Fiscal year 2021Cash36.8Shareholders’ equity211.5Fiscal year 2022Cash34.9Shareholders’ equity221.6Fiscal year 2023Cash37.8Shareholders’ equity204.0Fiscal year 2024Cash22.8Total debt1.3Net cash (debt)21.5Shareholders’ equity192.8Debt to equity0.01Fiscal year 2025Cash120.3Total debt4.3Net cash (debt)116.0Shareholders’ equity273.3Debt to equity0.02
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 36.2 44.4 16.5 26.9 72.6 36.8 34.9 37.8 22.8 120.3
Total debt n/a n/a n/a n/a n/a n/a n/a n/a 1.3 4.3
Net cash (debt) n/a n/a n/a n/a n/a n/a n/a n/a 21.5 116.0
Shareholders’ equity 133.0 183.8 190.8 187.9 192.6 211.5 221.6 204.0 192.8 273.3
Debt to equity n/a n/a n/a n/a n/a n/a n/a n/a 0.01 0.02

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
81.3 98.7 102.4 83.3 95.4 137.4 141.1 75.8 99.4 88.3
Growth +21.3% +3.8% −18.7% +14.5% +44.1% +2.7% −46.3% +31.1% −11.1%
55.0 64.2 65.4 58.4 65.1 90.0 89.0 62.5 75.5 77.1
26.4 34.5 37.0 24.8 30.3 47.4 52.1 13.3 23.8 11.2
Growth +30.7% +7.5% −33.0% +22.0% +56.6% +9.9% −74.4% +79.0% −52.8%
5.9 4.8 5.9 5.8 7.1 10.3 13.9 12.1 14.5 9.0
13.9 17.0 19.0 19.3 19.2 24.2 25.7 22.8 24.1 24.2
6.4 12.6 12.1 −0.3 3.9 12.9 12.6 −21.6 −14.8 −22.0
Growth +96.7% −3.9% −102.6% +227.3% −2.7% −271.8%
5.7 10.9 11.9 −1.0 7.1 17.6 20.9 −19.0 −10.7 −21.5
0.7 0.8 0.9 0.6 2.0 1.1 2.2 0.2 1.1 1.7
5.6 10.1 9.7 −2.6 3.2 14.6 15.8 −17.9 −11.6 −21.3
Growth +80.1% −4.9% −126.9% +350.1% +8.5% −213.1%
Per share
0.17 0.27 0.24 −0.07 0.08 0.35 0.37 −0.42 −0.27 −0.49
0.17 0.26 0.24 −0.07 0.07 0.34 0.37 −0.42 −0.27 −0.49
Growth +52.9% −7.7% −129.2% +385.7% +8.8% −213.5%
32.1 37.4 39.0 39.5 40.2 41.4 42.1 42.6 43.2 43.9
32.9 39.0 40.3 39.5 41.0 42.7 42.7 42.6 43.2 43.9
Growth +18.5% +3.3% −1.9% +3.9% +4.1% −0.0% −0.2% +1.2% +1.8%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue shrank 1.5% a year over five years.
  • The diluted share count rose 7.1% in five years, which is dilution.
  • Operating margin is down 29.0 points on five years ago, at -24.9%.
  • A net loss in 4 of 10 years on file.