Siltronic AG

XTRA:WAF Stock Report

Market Cap: €2.8b

Siltronic Future Growth

Future criteria checks 4/6

Siltronic is forecast to grow earnings and revenue by 34% and 8.7% per annum respectively. EPS is expected to grow by 35.7% per annum. Return on equity is forecast to be -0.6% in 3 years.

Key information

34.0%

Earnings growth rate

35.69%

EPS growth rate

Semiconductor earnings growth33.2%
Revenue growth rate8.7%
Future return on equity-0.59%
Analyst coverage

Good

Last updated13 Jul 2026

Recent future growth updates

Recent updates

Narrative Update • Jul 08

WAF: AI Wafer Demand And Index Shift Will Test 2026 Profit Weakness

Siltronic's updated analyst price target has moved from €69.90 to €74.00, with analysts pointing to stronger assumptions for revenue growth and profit margins, supported by recent research highlighting AI driven demand for 300mm wafers and a mixed but constructive reset of Street targets between €100 and €105. Analyst Commentary Recent research on Siltronic reflects a wide range of views, with price targets clustered around the €100 to €105 range and differing opinions on how quickly the company can translate AI related wafer demand into a smoother recovery.
Narrative Update • Jun 24

WAF: Higher Revenue And Margin Assumptions Will Support A Firmer Earnings Floor

Analysts have lifted their average price target for Siltronic to €105, supported by updated assumptions for slightly higher revenue growth, a modestly improved profit margin, and a broadly similar future P/E outlook. Analyst Commentary Recent Street research on Siltronic reflects a cluster of higher price targets around €105, providing a clearer view of how bullish analysts are framing the stock's risk reward profile.
Analysis Article • Jun 18

Siltronic (XTRA:WAF) Stock Could Be 32% Overvalued After €273 Million Equity Raise

Siltronic (XTRA:WAF) has completed a follow on equity offering, raising €273 million through the sale of 3,000,000 ordinary registered shares at €91 each in a subsequent direct listing, a financing move that may change investor exposure. See our latest analysis for Siltronic. Siltronic’s latest share price of €92.50 comes after a 7 day share price return of 8.19% and a 90 day share price return of 66.07%. The 1 year total shareholder return of 147.59% contrasts with a 5 year total shareholder...
Narrative Update • Jun 09

WAF: Higher P/E Assumptions And Stronger Margins Will Support A Firmer Earnings Floor

Analysts have lifted Siltronic's implied fair value from €70.00 to €105.00 after a series of recent price target increases from major brokers. These revisions are backed by updated assumptions on growth, margins and future P/E multiples.
Narrative Update • May 26

WAF: Raised Multiple Will Be Tested By Weaker 2026 Profit Outlook

Siltronic's analyst fair value estimate has moved from €67.90 to €69.90, as analysts factor in updated expectations that include higher published price targets from several banks, along with more cautious assumptions for revenue growth, profit margins and future P/E multiples. Analyst Commentary Recent Street research on Siltronic has been mixed, with several banks raising price targets while at least one turned more cautious on the stock.
Narrative Update • May 09

WAF: Raised Multiple Will Be Tested By Weak 2026 Earnings Outlook

Siltronic's updated fair value estimate moves from €57.60 to €67.90. Analysts point to higher assumed revenue growth, profit margins and Street price target hikes from several banks as key drivers behind the change.
Narrative Update • Apr 24

WAF: Raised Multiple Will Face Pressure From 2026 Earnings Guidance

Siltronic's analyst price target has moved higher, with an updated fair value estimate of €57.60 compared with €52.60 previously. This change reflects analysts' revised assumptions regarding growth, profitability and P/E multiples following recent target increases from the Street.
Narrative Update • Apr 10

WAF: Refined Discount Rate And Margins Will Support A Firmer Earnings Floor

Analysts raised their price target on Siltronic by €17, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E as the main drivers of the revised view. Analyst Commentary Recent research points to a more constructive stance on Siltronic, with the latest €17 price target adjustment framed around refreshed views on discount rates, revenue growth, profit margins and future P/E assumptions.
Narrative Update • Mar 27

WAF: Higher 2026 Guidance Clarity Will Support A Firmer Earnings Floor

Analysts have raised their price target on Siltronic by €17. This reflects updated assumptions around revenue growth, profit margins and a slightly lower discount rate.
Narrative Update • Mar 11

WAF: Fair Value View Will Balance Raised Multiple And Earnings Headwinds

Analysts have increased their price target on Siltronic by €17, citing updated assumptions around discount rates, long-term margins, and P/E multiples that refine their fair value view without materially changing it. Analyst Commentary Bullish Takeaways Bullish analysts view the €17 uplift in the price target as a refinement of their existing valuation work, suggesting their core thesis on Siltronic’s earnings power and cash generation remains broadly intact.
Narrative Update • Feb 25

WAF: Fair Value Update Will Balance Wafer Weakness And Margin Resilience

Analysts now see fair value for Siltronic at €52.60, down from €54.61. They also highlight updated assumptions on discount rate, revenue growth, profit margins and future P/E that reflect the latest Street research, including the recent €17 price target change at Berenberg.
Narrative Update • Feb 08

WAF: Higher Required Returns Will Likely Pressure An Already Stretched Outlook

Analysts have raised their price target on Siltronic from €35.35 to €39.00, citing updated assumptions for revenue growth, profit margins and future P/E that contribute to a higher fair value estimate despite a slightly higher discount rate. Valuation Changes Fair Value: updated from €35.35 to €39.00, which supports a modestly higher valuation anchor.
Narrative Update • Jan 25

WAF: Potential 2026 Volume Recovery Will Signal A More Constructive Earnings Floor

Narrative update on Siltronic The blended analyst view on Siltronic now centers on a price target of €70, with recent target moves between €57 and €70 reflecting updated expectations for revenue growth, profit margins and future P/E assumptions as analysts weigh gradual volume recovery over the coming years. Analyst Commentary Recent Street commentary on Siltronic gives you a clearer picture of how expectations are being fine tuned rather than radically reset.
Narrative Update • Jan 10

WAF: Potential 2026 Volume Recovery Will Support A More Constructive Earnings Outlook

Analysts have increased their fair value estimate for Siltronic to about €70 from roughly €63. This reflects recent Street price target revisions in a range of about €57 to €70 and updated assumptions on the discount rate, revenue growth, profit margins, and future P/E.
Narrative Update • Dec 23

WAF: Customer Inventory Drawdown Will Support Wafer Demand Recovery Into 2026

Analysts have nudged their average price target for Siltronic higher, reflecting increased confidence that wafer demand is stabilizing after what they view as a potential earnings trough and that gradually recovering volumes into 2026 can support fair value around the mid EUR 50s. Analyst Commentary Recent target changes and rating shifts highlight a more constructive stance on Siltronic, even as views on the pace of recovery remain mixed.
Narrative Update • Dec 09

WAF: Customer Inventory Drawdown Will Drive Wafer Volume Recovery Into 2026

Analysts have nudged their average price target on Siltronic slightly higher, reflecting a modest uptick in long term growth expectations as recent research points to recovering wafer volumes into 2026 and reduced downside risks at current EUR share levels. Analyst Commentary Recent Street research reflects a cautiously constructive stance on Siltronic, with multiple target price revisions signaling improving confidence in execution and end market recovery, even as some valuation and cycle timing concerns persist.
Narrative Update • Nov 25

WAF: Customer Inventory Drawdown Will Support Demand Recovery Through 2026

Siltronic's analyst price target has increased slightly, rising from €54.06 to €54.61. Analysts have highlighted improved sentiment following recent upward revisions by major research firms, despite ongoing cautiousness around profit margins.
Narrative Update • Nov 10

WAF: Recovery Hopes Will Strengthen As Customer Inventory Drawdown Drives Demand

Siltronic's analyst price target has increased from €49.76 to €54.06, as analysts cite improved recovery prospects and a strengthened financial outlook. This outlook is supported by higher projected revenue growth and profit margins.
Narrative Update • Oct 27

Improved Inventory Trends And New Partnerships Will Support Revenue Recovery

Siltronic’s analyst price target has risen significantly from €48.19 to €49.76, as analysts cite improved inventory trends and reduced downside risk in their updated outlook. Analyst Commentary Recent analyst actions reflect shifting sentiment toward Siltronic, as updated views incorporate changing inventory dynamics and shifting expectations for growth.
Narrative Update • Oct 13

FabNext Facility And AI Demand Will Fuel Semiconductor Resurgence

Analysts have adjusted Siltronic's price target upward from €45.89 to €48.19, citing improved revenue growth forecasts despite concerns about continued headwinds across the semiconductor sector. Analyst Commentary Recent analyst assessments of Siltronic reflect a nuanced view of the company’s outlook as it navigates a period of industry volatility.
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New Narrative • Feb 09

Semiconductor Demand Rebound Post-2024 Will Benefit Singapore Fab Output

Flexible production capacity and reduced equipment lead times help optimize investments, potentially improving net margins as market demand adjusts.
Analysis Article • Dec 07

The Returns On Capital At Siltronic (ETR:WAF) Don't Inspire Confidence

If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...
Analysis Article • Nov 19

Siltronic AG's (ETR:WAF) Share Price Not Quite Adding Up

It's not a stretch to say that Siltronic AG's ( ETR:WAF ) price-to-earnings (or "P/E") ratio of 15.8x right now seems...
Analysis Article • Oct 31

Siltronic's (ETR:WAF) Shareholders Have More To Worry About Than Only Soft Earnings

A lackluster earnings announcement from Siltronic AG ( ETR:WAF ) last week didn't sink the stock price. We think that...
Analysis Article • Oct 21

Siltronic (ETR:WAF) Has A Somewhat Strained Balance Sheet

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Analysis Article • Sep 04

What Is Siltronic AG's (ETR:WAF) Share Price Doing?

While Siltronic AG ( ETR:WAF ) might not have the largest market cap around , it received a lot of attention from a...
Analysis Article • Aug 14

The Returns On Capital At Siltronic (ETR:WAF) Don't Inspire Confidence

Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...
Analysis Article • Jul 19

Siltronic AG's (ETR:WAF) Low P/E No Reason For Excitement

Siltronic AG's ( ETR:WAF ) price-to-earnings (or "P/E") ratio of 15.2x might make it look like a buy right now compared...
Analysis Article • Jun 05

Does Siltronic (ETR:WAF) Have A Healthy Balance Sheet?

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Analysis Article • May 21

Is Siltronic AG (ETR:WAF) Potentially Undervalued?

Siltronic AG ( ETR:WAF ), might not be a large cap stock, but it saw significant share price movement during recent...
Analysis Article • May 05

Results: Siltronic AG Exceeded Expectations And The Consensus Has Updated Its Estimates

Siltronic AG ( ETR:WAF ) came out with its quarterly results last week, and we wanted to see how the business is...
Analysis Article • Apr 22

Capital Allocation Trends At Siltronic (ETR:WAF) Aren't Ideal

If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...

Earnings and Revenue Growth Forecasts

XTRA:WAF - Analysts future estimates and past financials data (EUR Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20281,644-501954879
12/31/20271,455-13715639010
12/31/20261,294-224-1318610
3/31/20261,307-129-158193N/A
12/31/20251,347-69-150230N/A
9/30/20251,336-27-202240N/A
6/30/20251,39329-253254N/A
3/31/20251,41540-268340N/A
12/31/20241,41363-355345N/A
9/30/20241,40996-487405N/A
6/30/20241,400111-626428N/A
3/31/20241,453144-796403N/A
12/31/20231,514184-711488N/A
9/30/20231,629261-727514N/A
6/30/20231,754328-578571N/A
3/31/20231,793353-339678N/A
12/31/20221,805391-118805N/A
9/30/20221,710368-18812N/A
6/30/20221,608332127785N/A
3/31/20221,506307216698N/A
12/31/20211,405253108501N/A
9/30/20211,313205140335N/A
6/30/20211,24117286274N/A
3/31/20211,22317142228N/A
12/31/20201,20716132237N/A
9/30/20201,22716260306N/A
6/30/20201,22817917319N/A
3/31/20201,216185-8340N/A
12/31/20191,270226N/A385N/A
9/30/20191,354287N/A365N/A
6/30/20191,434343N/A456N/A
3/31/20191,484375N/A608N/A
12/31/20181,457373N/A652N/A
9/30/20181,397347N/A678N/A
6/30/20181,325305N/A590N/A
3/31/20181,247247N/A425N/A
12/31/20171,177185N/A299N/A
9/30/20171,096130N/A220N/A
6/30/20171,02471N/A184N/A
3/31/201797139N/A138N/A
12/31/201693312N/A116N/A
9/30/2016902-11N/A95N/A
6/30/2016896-20N/A79N/A
3/31/2016913-27N/A75N/A
12/31/2015931-14N/A96N/A
9/30/2015939-2N/A97N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: WAF is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.9%).

Earnings vs Market: WAF is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: WAF is expected to become profitable in the next 3 years.

Revenue vs Market: WAF's revenue (8.7% per year) is forecast to grow faster than the German market (6.6% per year).

High Growth Revenue: WAF's revenue (8.7% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: WAF is forecast to be unprofitable in 3 years.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/14 17:36
End of Day Share Price 2026/07/14 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Siltronic AG is covered by 23 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Bruno BulicBaader Helvea Equity Research
Guenther HollfelderBaader Helvea Equity Research
Gustav FrobergBerenberg