AXT, Inc.

DB:AHV Stock Report

Market Cap: €83.2m

AXT Valuation

Is AHV undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of AHV when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate AHV's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate AHV's fair value for valuation analysis.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for AHV?

Key metric: As AHV is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for AHV. This is calculated by dividing AHV's market cap by their current revenue.
What is AHV's PS Ratio?
PS Ratio0.9x
SalesUS$94.69m
Market CapUS$87.86m

Price to Sales Ratio vs Peers

How does AHV's PS Ratio compare to its peers?

The above table shows the PS ratio for AHV vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.5x
CTNK centrotherm international
0.5xn/a€68.1m
M5Z Manz
0.2x7.5%€51.9m
TPE PVA TePla
1x4.7%€271.9m
S92 SMA Solar Technology
0.3x2.2%€459.8m
AHV AXT
0.9x14.9%€87.9m

Price-To-Sales vs Peers: AHV is expensive based on its Price-To-Sales Ratio (0.9x) compared to the peer average (0.5x).

Price to Sales Ratio vs Industry

How does AHV's PS Ratio compare vs other companies in the DE Semiconductor Industry?

2 CompaniesPrice / SalesEstimated GrowthMarket Cap
M5Z Manz
0.2x7.5%US$54.85m
D0Q Sondrel (Holdings)
0.2xn/aUS$2.02m
No more companies available in this PS range
AHV 0.9xIndustry Avg. 1.7xNo. of Companies2PS012345+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: AHV is good value based on its Price-To-Sales Ratio (0.9x) compared to the European Semiconductor industry average (1.7x).

Price to Sales Ratio vs Fair Ratio

What is AHV's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

AHV PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.9x
Fair PS Ratio0.8x

Price-To-Sales vs Fair Ratio: AHV is expensive based on its Price-To-Sales Ratio (0.9x) compared to the estimated Fair Price-To-Sales Ratio (0.8x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst AHV forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€1.90
€4.80
+152.2%
4.7%€5.08€4.61n/a5
Nov ’25€1.97
€4.80
+143.1%
4.7%€5.08€4.61n/a5
Oct ’25€2.14
€5.04
+135.1%
8.1%€5.50€4.58n/a5
Sep ’25€2.42
€5.04
+108.1%
8.1%€5.50€4.58n/a5
Aug ’25€3.39
€5.08
+49.7%
8.1%€5.54€4.62n/a5
Jul ’25€3.17
€5.15
+62.4%
8.1%€5.62€4.68n/a5
Jun ’25€3.42
€5.11
+49.4%
8.1%€5.57€4.64n/a5
May ’25€2.86
€5.07
+77.3%
8.1%€5.53€4.61n/a5
Apr ’25€4.42
€4.57
+3.4%
20.3%€5.59€3.49n/a5
Mar ’25€3.88
€4.35
+12.2%
18.0%€5.54€3.47n/a5
Feb ’25€2.22
€3.80
+71.1%
36.8%€5.52€2.07n/a5
Jan ’25€2.08
€3.85
+85.2%
36.8%€5.60€2.10n/a5
Dec ’24€1.78
€3.85
+116.4%
36.8%€5.60€2.10n/a5
Nov ’24€1.84
€4.21
+129.0%
25.4%€5.67€2.83€1.975
Oct ’24€2.22
€4.05
+82.6%
25.4%€5.45€2.73€2.145
Sep ’24€2.38
€4.05
+70.3%
25.4%€5.45€2.73€2.425
Aug ’24€2.74
€4.98
+81.8%
42.4%€9.08€3.36€3.395
Jul ’24€3.14
€4.98
+58.7%
42.4%€9.08€3.36€3.175
Jun ’24€3.12
€4.98
+59.7%
42.4%€9.08€3.36€3.425
May ’24€2.38
€4.98
+109.3%
42.4%€9.08€3.36€2.865
Apr ’24€3.56
€7.01
+97.0%
26.0%€9.35€4.68€4.425
Mar ’24€4.10
€7.01
+71.1%
26.0%€9.35€4.68€3.885
Feb ’24€5.50
€8.35
+51.8%
30.5%€13.16€5.57€2.226
Jan ’24€4.10
€8.35
+103.7%
30.5%€13.16€5.57€2.086
Dec ’23€5.05
€8.35
+65.4%
30.5%€13.16€5.57€1.786
Nov ’23€4.48
€8.35
+86.4%
30.5%€13.16€5.57€1.846

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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