Narrative Update • May 21
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- 7D0.6%
- 3M103.7%
- 1Y149.0%
- YTD148.4%
The Semiconductors is pretty flat in the last 7 days, but Soitec has stood out, gaining 9.7%. As for the the longer term, the industry is up 149% over the past 12 months. Looking forward, 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 |
|---|---|---|---|---|---|---|
| Fri, 22 May 2026 | €57.0b | €12.3b | €161.8m | 65.7x | 351.9x | 4.6x |
| Sun, 19 Apr 2026 | €38.4b | €11.7b | €173.1m | 78x | 221.8x | 3.3x |
| Tue, 17 Mar 2026 | €28.8b | €12.0b | €178.1m | 42.5x | 161.9x | 2.4x |
| Thu, 12 Feb 2026 | €28.3b | €11.6b | €171.5m | 45.7x | 165.3x | 2.5x |
| Sat, 10 Jan 2026 | €24.2b | €11.8b | €486.0m | 44.5x | 49.9x | 2.1x |
| Mon, 08 Dec 2025 | €22.1b | €11.8b | €485.7m | 39.4x | 45.5x | 1.9x |
| Wed, 05 Nov 2025 | €21.1b | €12.0b | €573.6m | 37.2x | 36.7x | 1.8x |
| Fri, 03 Oct 2025 | €25.0b | €11.8b | €669.2m | 37.8x | 37.3x | 2.1x |
| Sun, 31 Aug 2025 | €23.4b | €11.9b | €662.1m | 36.1x | 35.4x | 2x |
| Tue, 29 Jul 2025 | €23.2b | €11.9b | €685.1m | 24.4x | 33.9x | 1.9x |
| Thu, 26 Jun 2025 | €25.0b | €12.2b | €1.1b | 18.4x | 23.5x | 2x |
| Sat, 24 May 2025 | €21.8b | €12.6b | €1.1b | 16.8x | 19.7x | 1.7x |
| Mon, 21 Apr 2025 | €18.3b | €13.4b | €1.5b | 12x | 12x | 1.4x |
| Wed, 19 Mar 2025 | €23.8b | €13.9b | €1.6b | 14.8x | 15.1x | 1.7x |
| Fri, 14 Feb 2025 | €23.4b | €14.5b | €1.7b | 13.7x | 14.2x | 1.6x |
| Sun, 12 Jan 2025 | €25.6b | €15.7b | €2.2b | 14.8x | 11.5x | 1.6x |
| Tue, 10 Dec 2024 | €26.5b | €15.3b | €2.2b | 11.6x | 12.3x | 1.7x |
| Thu, 07 Nov 2024 | €25.4b | €15.1b | €2.2b | 11.7x | 11.6x | 1.7x |
| Sat, 05 Oct 2024 | €27.2b | €15.9b | €2.8b | 11.1x | 9.6x | 1.7x |
| Mon, 02 Sep 2024 | €30.8b | €15.8b | €2.8b | 15.7x | 10.9x | 1.9x |
| Wed, 31 Jul 2024 | €32.5b | €16.2b | €2.9b | 15.2x | 11.3x | 2x |
| Fri, 28 Jun 2024 | €37.3b | €17.3b | €3.5b | 15.3x | 10.6x | 2.1x |
| Sun, 26 May 2024 | €40.0b | €17.1b | €3.5b | 16.4x | 11.5x | 2.3x |
| Tue, 23 Apr 2024 | €37.3b | €18.2b | €4.1b | 14.4x | 9.1x | 2x |
| Thu, 21 Mar 2024 | €41.4b | €17.8b | €4.2b | 19.8x | 9.8x | 2.3x |
| Sat, 17 Feb 2024 | €44.9b | €18.0b | €4.3b | 24x | 10.5x | 2.5x |
| Mon, 15 Jan 2024 | €42.6b | €17.8b | €4.7b | 24.3x | 9.1x | 2.4x |
| Wed, 13 Dec 2023 | €47.8b | €18.1b | €4.8b | 27.6x | 10x | 2.6x |
| Fri, 10 Nov 2023 | €42.1b | €18.2b | €4.8b | 24.8x | 8.7x | 2.3x |
| Sun, 08 Oct 2023 | €45.1b | €18.3b | €4.8b | 24x | 9.4x | 2.5x |
| Tue, 05 Sep 2023 | €47.3b | €18.0b | €4.7b | 26.2x | 10x | 2.6x |
| Thu, 03 Aug 2023 | €51.7b | €17.7b | €4.7b | 27.1x | 11.1x | 2.9x |
| Sat, 01 Jul 2023 | €48.4b | €17.3b | €4.5b | 23.8x | 10.7x | 2.8x |
| Mon, 29 May 2023 | €42.9b | €17.4b | €4.6b | 21.4x | 9.4x | 2.5x |
Price to Earnings Ratio
9.4x
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 352x which is higher than its 3-year average PE of 36.0x.
- The 3-year average PS ratio of 2.2x is lower than the industry's current PS ratio of 4.6x.
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 | 0.23% | |
| Tech | 2.00% | |
| Semiconductors | 0.59% | |
| Semiconductor Equipment | 6.87% | |
| Semiconductors | -0.20% | |
Industry PE
- Investors are most optimistic about the Semiconductors industry which is trading above its 3-year average PE ratio of 36.6x.
- 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 37.6x.
Forecasted Growth
- Analysts are most optimistic on the Semiconductor Equipment industry, expecting annual earnings growth of 43% 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 | |
|---|---|---|---|---|---|
| SOI Soitec | €166.60 | 9.7% +€524.7m | 213.5% | PE550.8x | |
| ALKAL Kalray | €9.69 | 4.2% +€5.0m | 1,645.9% | PS5x |