EN DE
Watch AXT Inc for free: we tell you when fair value or trend changes.
Data-driven stock valuation

AXT Inc (AXTI) fair value: what the stock is really worth

As of Nov 10, 2026: fair value (intrinsic value) of AXT Inc stock $29.96, price $39.31, that is 23.8% below the price, quality 29 out of 100. Rating: overvalued. The value is an estimate: none of our valuation models currently carries, it draws on revenue and assets compared with similar companies. Updated daily.

  1. Keep an eye on it?Free in your watchlist: 5 stocks without an account, 10 with one Yes, for free

Technology US

AI AXT Inc logo Thin data Nov 10, 2026

AXT Inc

AXTI · US
Expensive, weak quality

Our calculation puts a fair price 24% below what the stock costs today.

Solidly profitable · 18.5% net margin (TTM)
Low debt
Upbeat coverage
Moderate moat 54/100 · thin data
Insiders sold $29.8M (6M)
Costs 80 times its yearly profit.
Fair value $29.96 · Overvalued
Quality 29/100
Weak Growth (revenue 5y −1.5 %/yr in USD)
Negative free cash flow
Trails peers (5/13)
Thin data
⟳ CyclicalEstimate
Watch AXT Inc for free: we tell you when fair value or trend changes. Watch for free

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$140.83 $1.16 Fair Value $29.96 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 10, 2026.

How to read this chart

60‑month range $1.16 – $140.83 · fair‑value band $22.47 – $37.45 · the $39.31 price screens above the $29.96 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 10, 2026.

Follow AXT in your weekly email

Every Wednesday you see whether AXT is on track or worth a review, plus price against fair value. Free, up to 3 stocks.

We send you a confirmation link. Unsubscribe with one click.

Which stocks are undervalued right now? Check free Discover now →

Company profile

AXT, Inc. designs, develops, manufactures, and distributes compound and single element semiconductor substrates.

Show moreShow less

The company provides indium phosphide for use in data center connectivity using light/lasers, high-speed data transfer in data centers, 5G communications, fiber optic lasers and detectors, consumer devices, passive optical networks, silicon photonics, photonic integrated circuits, thermo-photovoltaics, RF amplifier and switching, infrared light-emitting diode (LEDS) motion control, lidar for robotics and autonomous vehicles, and infrared thermal imaging.

It also offers semi-insulating gallium arsenide (GaAs) substrates for use in Wi-Fi and IoT devices, transistors, direct broadcast television, power amplifiers, satellite communications, and solar cells; and semi-conducting GaAs substrates that are used in LEDs, screen displays using micro-LEDs, printer head lasers and LEDs, 3-D sensing using VCSELs, data center communication using VCSELs, sensors for industrial robotics/near-infrared sensors, laser machining, cutting and drilling, optical couplers, solar cells, night vision goggles, lidar for robotics and autonomous vehicles, and other lasers.

In addition, the company provides germanium substrates for use in multi-junction solar cells for satellites, optical sensors and detectors, terrestrial concentrated photo voltaic cells, infrared detectors, and carrier wafer for LED. Further, it offers 6N+ and 7N+ purified gallium, boron trioxide, gallium-magnesium alloy, pyrolytic boron nitride (pBN) crucibles, and pBN insulating parts.

It sells its products through direct salesforce in the United States, China, and Europe, as well as through independent sales representatives and distributors in Japan, Taiwan, Korea, and internationally.

The company was formerly known as American Xtal Technology, Inc. and changed its name to AXT, Inc. in July 2000. AXT, Inc. was incorporated in 1986 and is headquartered in Fremont, California.

Stock analysis

AXT Inc (AXTI) currently trades at $39.31, while our estimate is $29.96, 24% below the price, so the stock looks overvalued today.

Show more

Valuation

None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Scenario range: $22.47 (bear) to $37.45 (bull), the price of $39.31 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 29/100 (below-average quality), in the Technology sector.

Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.

AXT Inc reported revenue of $88.3M in FY2025 versus $137M in FY2021, a compound −10.5%/yr. Reported net income was −$21.3M in FY2025.

Key figures

Market cap $2.5B Mid · P/E ratio 80.2 · P/S ratio 14.6 · EPS (TTM) $0.4900 · Net margin 18.5% · Return on equity 6.1% · Return on assets (EBIT) −1.6% (5-year average) · Operating margin 38.7%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 54 out of 100 (low confidence).

What moves the price

The share trades about 72% below its 52-week high and 340% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at −11% fair-value upside, at −24%, AXTI screens richer than that median.

Fair Value

Bear $22.47 Fair Value $29.96 Bull $37.45
Price $39.31 · Downside -23.8%
Estimate. None of our valuation models currently carries for this company, usually because of losses or heavy investment. The estimate draws on revenue and assets compared with similar companies and is less precise than a model-based fair value.

Quality Score breakdown

Overall quality 29/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 2
How much profit the company makes from its sales and capital
Quality Growth 8
Are margins and returns getting better?
Cashflow 2
Do the profits arrive as real cash?
Financial strength 96
Debt, balance sheet and risk of trouble
Investment 70
Does it invest with discipline instead of growing at any price?
Low Volatility 0
How calm the share price moves, does not count
Price momentum 33
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 62
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

Insider trades

In the last 6 months, 4 officers or directors sold shares worth $29.8M and none bought.

  • SaleLeonard J LeblancDirector2× since Jun 10, 2026: 6,500 shares, avg. $93.19$605,715Aug 17, 2026
  • SaleDavid C ChangDirector5× since Nov 28, 2025: 143,333 shares, avg. $30.23$4.3MJun 15, 2026
  • SaleJesse ChenDirector10× since Mar 2, 2026: 159,817 shares, avg. $64.15$10.3MJun 15, 2026
  • SaleMorris S YoungCEO, Director8× since Nov 17, 2025: 665,254 shares, avg. $58.21$38.7MJun 2, 2026
  • SaleGary L FischerCFO3× since Nov 13, 2025: 595,562 shares, avg. $37.50$22.3MMar 13, 2026

Plus 7 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.

Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.

Source: SEC Form 4, as of Nov 10, 2026. All filings at the SEC ↗

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 20/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−11.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−14.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−1.5%
Start year 2020 (pandemic). Over 10 years: +1.3% a year
Revenue growth 27 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+2.7%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
4.1% (2020) → −24.9% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

AXTI screens overvalued: fair value 24% below the price. Compare with ASML Holding →

Earlier news

News mood ⓘNews mood, the average tone of recent news (99 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation. Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.

Compare AXT Inc with another stock

Price, fair value, quality and upside side by side.

Free, no sign-up

Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Semiconductor Equipment & Materials · 245 stocks

Beats the industry median on 4/12 measures
Overall it trails its industry peers.
Valuation
Quality Score 29 · Bottom 25%
Fair Value upside −23.8% · Above median
Profitability
Return on equity (12 months) 6.1% · Below median
Return on assets −4.9% · Bottom 25%
Net margin (12 months) 18.5% · Above median
Operating margin (12 months) 38.7% · Top 25%
Growth and dividend
Revenue growth (quarter YoY) 162.6% · Top 25%

Valuation Multiplesvs Semiconductor Equipment & Materials median · lower = cheaper

P/E (12 months) 80.2× · Priciest 25%
P/B 9.13× · Priciest 25%
P/S (12 months) 14.60× · Priciest 25%
EV/EBITDA 54.7× · Priciest 25%
PEG 12.09× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)2 · sector 0
FUTURE (revenue growth)100 · sector 100
PAST (return on equity)24 · sector 38
HEALTH (low debt)100 · sector 96
DIVIDEND (yield)0 · sector 19

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Semiconductor Equipment & Materials stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Lam Research Corporation LRCX $222.39 $243.44 +9% vs AXTI
Hon. Precision, Inc 7769 4,220 TWD 4,444 TWD +5% vs AXTI
Applied Materials, Inc AMAT $372.53 $368.90 −1% vs AXTI
ASML Holding ASML €1,361 €1,345 −1% vs AXTI
KLA Corporation KLAC $152.99 $136.10 −11% vs AXTI
Entegris, Inc ENTG $138.57 $91.54 −34% vs AXTI
Qnity Electronics, Inc Q $123.64 $70.54 −43% vs AXTI
Advanced Micro-Fabrication Equipment Inc 688012 ¥245.66 ¥123.44 −50% vs AXTI
Teradyne, Inc TER $245.40 $66.14 −73% vs AXTI
Hangzhou Changchuan Technology Co 300604 ¥180.91 ¥45.22 −75% vs AXTI

Explore undervalued stocks

More undervalued Technology stocks →

All undervalued stocks TechnologyFinancial ServicesHealthcareConsumer CyclicalConsumer DefensiveCommunication ServicesIndustrialsEnergyBasic MaterialsReal EstateUtilities Deeply Undervalued StocksUndervalued High-Quality StocksUndervalued Blue-Chip StocksUndervalued Small-Cap StocksUndervalued Dividend StocksUndervalued 52-Week Low StocksStocks for 2027: Large Companies Below Fair Value

Try a ready-made strategy

Pick a strategy and jump into the live analysis with that exact screen applied.

🥇 Backtested Best 🏆 Big Names 💎 Quality on Sale 🚀 Profitable Growth 🧊 Quality Compounders 💵 Dividend Stars 📈 Strong Momentum 📉 Fallen Angels ⚖️ Deeply Undervalued 🔍 Small-Cap Gems 🏰 Moat at a Fair Price 💼 Insider Buying 🎩 Buffett-Style Quality 📚 Peter Lynch GARP 🧮 Greenblatt Magic Formula 🛡️ Graham Defensive

Discover tools

Stock screenerFilter by region, size and sector Compare toolTwo stocks side by side Extrinsic Value Calculator…Free calculator Peter Lynch Fair Value Formula &…Free calculator
Run the numbers yourself: free valuation calculators
DCF CalculatorP/E Ratio CalculatorPEG Ratio CalculatorGraham NumberPeter Lynch FormulaDDM CalculatorIntrinsic ValueIntrinsic vs Extrinsic ValueP/E Ratio by Sector
For bloggers & editors: embed code + live data

For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.

AXT Inc: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "AXT Inc Fair Value". https://www.fairvalue-calculator.com/stock/AXTI

Frequently asked questions

Is AXT Inc (AXTI) overvalued or undervalued?
As of Nov 10, 2026, our estimate of fair value is $29.96 versus a price of $39.31, about 24% lower (overvalued).
What is the fair value of AXTI?
Our estimate for AXT Inc is $29.96 (as of Nov 10, 2026), built from audited fundamentals. The current price: $39.31.
What is the quality score of AXTI?
AXT Inc has a Quality Score of 29/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for AXT Inc (AXTI)?
Our calculated price target is the estimate of $29.96 (as of Nov 10, 2026). Cautious scenario $22.47, optimistic scenario $37.45. It is an estimate from revenue and assets compared with similar companies, because none of our valuation models currently carries, not an analyst target.
What is the AXT Inc stock forecast for 2026?
Our estimate puts fair value at $29.96, about 24% lower versus a price of $39.31 (overvalued). Cautious scenario $22.47, optimistic scenario $37.45. The calculation is refreshed regularly with new filings.
What is the revenue of AXT Inc (AXTI)?
AXT Inc reported trailing-twelve-month revenue of about $171M (latest available figure, as of Nov 10, 2026).
What is the intrinsic value of AXT Inc (AXTI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For AXT Inc it is $29.96 per share (as of Nov 10, 2026), against a price of $39.31.
Is AXT Inc stock overvalued or undervalued in 2026?
As of Nov 10, 2026, AXTI trades above its calculated fair value: price $39.31, fair value $29.96, a gap of about −24% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of AXTI?
No. The price is what the market pays today ($39.31); the fair value is what the company's own numbers justify ($29.96). For AXT Inc the two are $9.35 per share apart. That gap is exactly why we show both numbers side by side.
How much is AXT Inc worth?
The market values AXT Inc at about $2.5B (market capitalisation, as of Nov 10, 2026). Per share that is $39.31; our models calculate a fair value of $29.96 per share.
What do the bullish and bearish scenarios say about AXTI?
Our models span a range for AXT Inc: cautious scenario $22.47, base $29.96, optimistic $37.45 per share (as of Nov 10, 2026, price $39.31). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of AXTI?
AXT Inc trades at a price-to-earnings ratio of 80.2 (as of Nov 10, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $29.96 is built from several models across several years. Median P/E at fiscal year-end, 6 fiscal years (2016 to 2022), reported earnings: 26.9. Other multiples: PEG 12.1, P/B 9.1, P/S 14.6, EV/EBITDA 54.7.
What is the PEG ratio of AXTI?
The PEG ratio of AXT Inc is 12.09 (P/E divided by earnings growth, as of Nov 10, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of AXT Inc (AXTI)?
Balance-sheet figures for AXT Inc (as of Nov 10, 2026): return on equity 6.1%. They feed the Quality Score of 29/100, which measures business quality independently of the share price.
How far is AXTI from its 52-week high?
AXT Inc trades at $39.31, about 72% below its 52-week high of $140.83 and 340% above the low of $8.93 (as of Nov 10, 2026). Distance from the high says nothing about value: that is what the fair value of $29.96 is for.
Which stocks are comparable to AXT Inc?
From the same area (Technology) we also value ASML Holding, Applied Materials, Inc, Lam Research Corporation, KLA Corporation, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is AXT Inc stock attractive at the current price?
The data as of Nov 10, 2026: price $39.31, calculated fair value $29.96 (−24%), Quality Score 29/100. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. AXT Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of AXT Inc (AXTI)?
The closing price on Nov 10, 2026 was $39.31. Our estimate is $29.96, about 24% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with AXT Inc right now?
The price sits above even our optimistic bull case ($37.45). The favourable scenario is already priced in. Weak quality (29/100) and above fair value at the same time, the margin of safety is missing on both counts. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of AXT Inc

How large is the market capitalisation of AXT Inc (AXTI)?
The market capitalisation of AXT Inc is $2.5B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of AXT Inc (AXTI)?
The price-to-sales ratio of AXT Inc is 14.6 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of AXT Inc (AXTI)?
Earnings per share at AXT Inc are $0.4900 (price ÷ EPS = P/E 80.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of AXT Inc (AXTI)?
The net margin of AXT Inc is 18.5% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of AXT Inc (AXTI)?
The return on equity (ROE) of AXT Inc is 6.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of AXT Inc (AXTI)?
On an EBIT basis the return on assets of AXT Inc is −1.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of AXT Inc (AXTI)?
The operating margin of AXT Inc is 38.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at AXT Inc (AXTI)?
Revenue at AXT Inc is growing +163% versus a year earlier (3y avg −14.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at AXT Inc (AXTI)?
Earnings per share at AXT Inc are growing −57.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does AXT Inc (AXTI) generate?
The free cash flow of AXT Inc is −$18.8M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does AXT Inc (AXTI) hold?
AXT Inc holds more cash than debt, $62.7M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
Free · no account needed

Watch AXT Inc in the live analysis

One click puts AXT Inc on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 27,000+ stock screener.

Watch for free →

Zero risk: nothing is ever charged. Your watchlist is yours, with or without an account.