X-FAB Silicon Foundries - Stock price, News & Analysis

XFAB fundamental analysis
Snowflake Score
Valuation	5/6
Future Growth	2/6
Past Performance	1/6
Financial Health	6/6
Dividends	0/6

XFAB Stock Overview

X-FAB Silicon Foundries SE operates as an analog/mixed-signal semiconductor technology foundry.

Rewards

Trading at 48.9% below our estimate of its fair value

Earnings are forecast to grow 11.27% per year

Became profitable this year

Risk Analysis

Large one-off items impacting financial results

X-FAB Silicon Foundries Competitors

STMicroelectronics

ENXTPA:STM

€37.5b

Taiwan Semiconductor Manufacturing

TWSE:2330

NT$16.9t

Samsung Electronics

KOSE:A005930

₩514.1t

Intel

NasdaqGS:INTC

US$211.6b

Price History & Performance

Summary of all time highs, changes and price drops for X-FAB Silicon Foundries
Historical stock prices
Current Share Price	€9.07
52 Week High	€10.20
52 Week Low	€6.10
Beta	2.12
1 Month Change	2.26%
3 Month Change	7.72%
1 Year Change	26.85%
3 Year Change	80.68%
5 Year Change	n/a
Change since IPO	11.43%

Recent News & Updates

Dec 15

X-FAB Silicon Foundries (EPA:XFAB) Seems To Use Debt Rather Sparingly

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...

Oct 19

Is There An Opportunity With X-FAB Silicon Foundries SE's (EPA:XFAB) 20% Undervaluation?

Today we will run through one way of estimating the intrinsic value of X-FAB Silicon Foundries SE ( EPA:XFAB ) by...

Sep 14

Returns On Capital Signal Tricky Times Ahead For X-FAB Silicon Foundries (EPA:XFAB)

There are a few key trends to look for if we want to identify the next multi-bagger. One common approach is to try and...

Shareholder Returns

	XFAB	FR Semiconductor	FR Market
7D	-8.6%	-2.7%	-1.4%
1Y	26.9%	21.7%	22.9%

Return vs Industry: XFAB exceeded the French Semiconductor industry which returned 21.7% over the past year.

Return vs Market: XFAB exceeded the French Market which returned 22.9% over the past year.

Price Volatility

Is XFAB's price volatile compared to industry and market?
XFAB volatility
XFAB Average Weekly Movement	5.9%
Semiconductor Industry Average Movement	5.1%
Market Average Movement	4.5%
10% most volatile stocks in FR Market	9.7%
10% least volatile stocks in FR Market	2.5%

Stable Share Price: XFAB is not significantly more volatile than the rest of French stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: XFAB's weekly volatility (6%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1992	4,000	Rudi De Winter	https://www.xfab.com

X-FAB Silicon Foundries SE operates as an analog/mixed-signal semiconductor technology foundry. The company manufactures silicon wafers for automotive, industrial, consumer, medical, consumer and mobile communications, and other applications; and analog-digital integrated circuits, sensors, and micro-electro-mechanical systems. It also provides manufacturing and design support services for customers that design analog/mixed-signal integrated circuits and other semiconductor devices, as well as engineering and prototyping services, technical services, and design kits.

X-FAB Silicon Foundries Fundamentals Summary

How do X-FAB Silicon Foundries's earnings and revenue compare to its market cap?
XFAB fundamental statistics
Market Cap	US$1.34b
Earnings (TTM)	US$100.41m
Revenue (TTM)	US$621.32m

13.4x

P/E Ratio

2.2x

P/S Ratio

Is XFAB overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
XFAB income statement (TTM)
Revenue	US$621.32m
Cost of Revenue	US$485.68m
Gross Profit	US$135.64m
Expenses	US$35.24m
Earnings	US$100.41m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

Feb 10, 2022

Earnings per share (EPS)	0.77
Gross Margin	21.83%
Net Profit Margin	16.16%
Debt/Equity Ratio	6.9%

How did XFAB perform over the long term?

See historical performance and comparison

Valuation

Is X-FAB Silicon Foundries undervalued compared to its fair value and its price relative to the market?

48.9%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: XFAB (€9.07) is trading below our estimate of fair value (€17.76)

Significantly Below Fair Value: XFAB is trading below fair value by more than 20%.

Price To Earnings Ratio

PE vs Industry: XFAB is good value based on its PE Ratio (13.4x) compared to the European Semiconductor industry average (34.4x).

PE vs Market: XFAB is good value based on its PE Ratio (13.4x) compared to the French market (18.7x).

Price to Earnings Growth Ratio

PEG Ratio: XFAB is poor value based on its PEG Ratio (1.2x)

Price to Book Ratio

PB vs Industry: XFAB is good value based on its PB Ratio (1.9x) compared to the FR Semiconductor industry average (3.7x).

Future Growth

How is X-FAB Silicon Foundries forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

11.3%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: XFAB's forecast earnings growth (11.3% per year) is above the savings rate (0.3%).

Earnings vs Market: XFAB's earnings (11.3% per year) are forecast to grow slower than the French market (11.6% per year).

High Growth Earnings: XFAB's earnings are forecast to grow, but not significantly.

Revenue vs Market: XFAB's revenue (6.8% per year) is forecast to grow faster than the French market (6.1% per year).

High Growth Revenue: XFAB's revenue (6.8% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: XFAB's Return on Equity is forecast to be low in 3 years time (10.6%).

Past Performance

How has X-FAB Silicon Foundries performed over the past 5 years?

-25.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: XFAB has a large one-off gain of $37.2M impacting its September 30 2021 financial results.

Growing Profit Margin: XFAB became profitable in the past.

Past Earnings Growth Analysis

Earnings Trend: XFAB's earnings have declined by 25.2% per year over the past 5 years.

Accelerating Growth: XFAB has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: XFAB has become profitable in the last year, making it difficult to compare its past year earnings growth to the Semiconductor industry (100.8%).

Return on Equity

High ROE: XFAB's Return on Equity (13.9%) is considered low.

Financial Health

How is X-FAB Silicon Foundries's financial position?

Financial Position Analysis

Short Term Liabilities: XFAB's short term assets ($503.9M) exceed its short term liabilities ($124.3M).

Long Term Liabilities: XFAB's short term assets ($503.9M) exceed its long term liabilities ($36.4M).

Debt to Equity History and Analysis

Debt Level: XFAB has more cash than its total debt.

Reducing Debt: XFAB's debt to equity ratio has reduced from 47.4% to 6.9% over the past 5 years.

Debt Coverage: XFAB's debt is well covered by operating cash flow (249.2%).

Interest Coverage: XFAB earns more interest than it pays, so coverage of interest payments is not a concern.

Balance Sheet

Dividend

What is X-FAB Silicon Foundries's current dividend yield, its reliability and sustainability?

Dividend Yield vs Market

Notable Dividend: Unable to evaluate XFAB's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate XFAB's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if XFAB's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if XFAB's dividend payments have been increasing.

Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of XFAB's dividend in 3 years as they are not forecast to pay a notable one for the French market.

Next Steps

Explore strong dividend paying companies in the Semiconductors industry.

Management

How experienced are the management team and are they aligned to shareholders interests?

2.3yrs

Average management tenure

CEO

Rudi De Winter (60 yo)

8yrs

Tenure

US$285,310

Compensation

Mr. Rudi De Winter has been Chief Executive Officer at X-FAB Silicon Foundries SE since 2014. Mr. De Winter serves as a Managing Director of Xtrion N.V. Mr. De Winter has been the Chief Executive Officer a...

CEO Compensation Analysis

Compensation vs Market: Rudi's total compensation ($USD285.31K) is below average for companies of similar size in the French market ($USD845.86K).

Compensation vs Earnings: Rudi's compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: XFAB's management team is considered experienced (2.3 years average tenure).

Board Members

Experienced Board: XFAB's board of directors are considered experienced (4.8 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/01/20 21:25
End of Day Share Price	2022/01/20 00:00
Earnings	2021/09/30
Annual Earnings	2020/12/31