Narrative Update • May 15
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- 7D2.1%
- 3M97.7%
- 1Y130.6%
- YTD134.1%
The Semiconductors industry is up 3.7% in the last week, with STMicroelectronics up 4.2%. In the same time, Soitec was down 13%. In the last 12 months, the industry was up 134%. Earnings are forecast to grow by 40% annually.
Industry Valuation and Performance
Has the French Semiconductors Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 19 May 2026 | €53.7b | €12.3b | €161.4m | 70.2x | 332.6x | 4.4x |
| Thu, 16 Apr 2026 | €35.0b | €11.6b | €172.6m | 77.3x | 202.9x | 3x |
| Sat, 14 Mar 2026 | €28.8b | €12.0b | €178.1m | 42.5x | 161.9x | 2.4x |
| Mon, 09 Feb 2026 | €24.5b | €11.6b | €172.3m | 43.2x | 142.1x | 2.1x |
| Wed, 07 Jan 2026 | €24.5b | €11.7b | €483.7m | 44.2x | 50.5x | 2.1x |
| Fri, 05 Dec 2025 | €21.7b | €11.7b | €485.0m | 39.4x | 44.8x | 1.9x |
| Sun, 02 Nov 2025 | €21.7b | €12.0b | €571.9m | 39.3x | 38x | 1.8x |
| Tue, 30 Sep 2025 | €24.2b | €11.8b | €668.9m | 36.6x | 36.2x | 2x |
| Thu, 28 Aug 2025 | €23.5b | €11.9b | €665.4m | 36.1x | 35.3x | 2x |
| Sat, 26 Jul 2025 | €22.6b | €11.8b | €677.2m | 23.8x | 33.4x | 1.9x |
| Mon, 23 Jun 2025 | €24.6b | €12.4b | €1.1b | 17.3x | 22.9x | 2x |
| Wed, 21 May 2025 | €23.2b | €12.6b | €1.1b | 17.2x | 20.7x | 1.8x |
| Fri, 18 Apr 2025 | €18.3b | €13.4b | €1.5b | 12x | 12x | 1.4x |
| Sun, 16 Mar 2025 | €22.9b | €13.9b | €1.6b | 14.1x | 14.5x | 1.6x |
| Tue, 11 Feb 2025 | €22.3b | €14.7b | €1.7b | 14.3x | 13.4x | 1.5x |
| Thu, 09 Jan 2025 | €26.1b | €15.6b | €2.2b | 14.2x | 11.8x | 1.7x |
| Sat, 07 Dec 2024 | €26.4b | €15.3b | €2.2b | 11.6x | 12.2x | 1.7x |
| Mon, 04 Nov 2024 | €25.6b | €15.0b | €2.2b | 11.7x | 11.8x | 1.7x |
| Wed, 02 Oct 2024 | €27.3b | €15.8b | €2.8b | 11.5x | 9.7x | 1.7x |
| Fri, 30 Aug 2024 | €30.6b | €15.8b | €2.8b | 15.7x | 10.9x | 1.9x |
| Sun, 28 Jul 2024 | €32.9b | €16.1b | €2.9b | 14.9x | 11.5x | 2x |
| Tue, 25 Jun 2024 | €38.8b | €17.3b | €3.5b | 15x | 11x | 2.2x |
| Thu, 23 May 2024 | €40.2b | €17.2b | €3.5b | 15.5x | 11.4x | 2.3x |
| Sat, 20 Apr 2024 | €38.2b | €18.2b | €4.1b | 14.8x | 9.3x | 2.1x |
| Mon, 18 Mar 2024 | €42.9b | €17.8b | €4.2b | 20.5x | 10.2x | 2.4x |
| Wed, 14 Feb 2024 | €43.9b | €18.1b | €4.3b | 23.3x | 10.2x | 2.4x |
| Fri, 12 Jan 2024 | €42.7b | €17.8b | €4.7b | 24x | 9.1x | 2.4x |
| Sun, 10 Dec 2023 | €47.5b | €18.1b | €4.8b | 26.6x | 10x | 2.6x |
| Tue, 07 Nov 2023 | €41.4b | €18.2b | €4.8b | 24.1x | 8.6x | 2.3x |
| Thu, 05 Oct 2023 | €44.3b | €18.4b | €4.8b | 24x | 9.1x | 2.4x |
| Sat, 02 Sep 2023 | €47.5b | €18.0b | €4.7b | 26.3x | 10x | 2.6x |
| Mon, 31 Jul 2023 | €52.2b | €17.6b | €4.6b | 27.6x | 11.3x | 3x |
| Wed, 28 Jun 2023 | €46.0b | €17.2b | €4.5b | 21.9x | 10.2x | 2.7x |
| Fri, 26 May 2023 | €41.1b | €17.4b | €4.6b | 19.4x | 9x | 2.4x |
Price to Earnings Ratio
9x
Current Industry PE
- Investors are optimistic on the French Semiconductor industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 336x which is higher than its 3-year average PE of 35.1x.
- The 3-year average PS ratio of 2.2x is lower than the industry's current PS ratio of 4.4x.
Past Earnings Growth
- The earnings for companies in the Semiconductor industry have declined 67% per year over the last three years,
- Revenues have also declined 11% per year.
- This means overall sales from these companies are declining and profits are subsequently falling as well.
Industry Trends
Which industries have driven the changes within the French Tech industry?
| FR Market | -0.73% | |
| Tech | 1.14% | |
| Semiconductors | 2.09% | |
| Semiconductors | 4.14% | |
| Semiconductor Equipment | -12.11% | |
Industry PE
- Investors are most optimistic about the Semiconductors industry which is trading above its 3-year average PE ratio of 35.7x.
- Analysts are expecting annual earnings growth of 39.7%, which is higher than its past year's earnings decline of 62.8% per year.
- Investors are most pessimistic about the Semiconductor Equipment industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 37.0x.
Forecasted Growth
- Analysts are most optimistic on the Semiconductor Equipment industry, expecting annual earnings growth of 42% over the next 5 years.
- This is better than its past earnings decline of 16% per year.
- In contrast, the Semiconductors industry is expected to see its earnings grow by 40% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| STMPA STMicroelectronics | €52.42 | 4.2% +€1.9b | 129.9% | PE369.4x | |
| ALKAL Kalray | €8.21 | 8.6% +€8.4m | 1,669.4% | PS4.2x | |
| XFAB X-FAB Silicon Foundries | €7.38 | 0.1% +€1.3m | 39.2% | PE59.6x | |
| MEMS MEMSCAP | €5.26 | 1.3% +€532.4k | 39.2% | PE44.7x |