Stocks · Technology · Semiconductors
AXT, Inc. AXTI
$85.87 +4.96% Close, Oct 2, 2026 · NASDAQ · Market cap $4.36B
Strong trendExpensive vs sector
Next earnings report: Oct 29, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Operating margin widened to 3.1% from -30.9% a year earlier.
- The diluted share count rose 45.2% in a year.
- Over the past year the stock returned +1648.9%, ahead of the S&P 500 by 1633.8 percentage points.
PromtFinance scores
Each score is a percentile within the Technology sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Top 12%
- Revenue growth, 3-year CAGRBottom 6%
- Revenue growth accelerationTop 3%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalBottom 40%
- Gross marginBottom 24%
- Operating marginBottom 44%
- Cash conversion (OCF / net income)Bottom 1%
- Accruals (lower is better)Bottom 13%
- Net debt / EBITDA (lower is better)Top 3%
- Interest coverTop 43%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldBottom 41%
- Free-cash-flow yieldBottom 26%
- EBITDA / enterprise valueBottom 31%
- Sales / enterprise valueBottom 8%
- P/E vs own 5-year history (lower is better)Bottom 4%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthTop 1%
- 6-month returnTop 22%
- 1-year return vs S&P 500Top 1%
- Distance from 52-week highBottom 35%
- Trend checklist (0–4)Top 18%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersTop 12%
- Consecutive EPS beatsBottom 44%
- Share of analysts rating BuyTop 37%
- Upside to consensus price targetBottom 39%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Bottom 1%
- Maximum drawdown, 3 yearsBottom 18%
- Beta vs S&P 500 (lower is better)Bottom 8%
- Net debt / EBITDA (lower is better)Top 3%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | -0.1% | 45.8% | ↑ |
| Gross margin | 11.9% | 32.2% | ↑ |
| Operating margin | -30.9% | 3.1% | ↑ |
| FCF margin | -16.2% | -15.6% | ↑ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 45.8% | -0.1% | ↑ | Top 12% |
| Gross margin | 32.2% | 11.9% | ↑ | Bottom 24% |
| Operating margin | 3.1% | -30.9% | ↑ | Bottom 44% |
| Net margin | 3.2% | -27.7% | ↑ | — |
| Free-cash-flow margin | -15.6% | -16.2% | ↑ | — |
| Return on invested capital | 0.2% | — | Bottom 40% | |
| Revenue growth, 3-year CAGR | -14.5% | — | Bottom 6% |
Quality of earnings and balance sheet
- Cash conversion (OCF / net income)Above 1× means profits are backed by cash.
- -1.42×
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- 0.9%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 3.0%
- Receivables growth vs revenue growthReceivables growing much faster than sales can be a warning.
- +15.1 pp
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- -22.36×
- Interest cover (operating income / interest)How many times operating profit covers interest.
- 4.9×
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 0.00%
- Net buyback yield (TTM)
- -16.00%
- Shareholder yield
- -16.00%
- Share count change, 1 year
- +45.2%
- Share count change, 3-year CAGR
- +14.2%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Aug 13, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 2
- Beats in the last 8 reports
- 4 of 8
- Average EPS surprise, last 4
- +71.7%
- Average 2-day reaction, last 8
- +3.8%
- Positive 20 days after report
- 6 of 8
Analysts
- Consensus price target
- $99.50
- Target vs current price
- +15.9%
- Analysts with a rating
- 11
- Share rating Buy or Strong Buy
- 73%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Jul 30, 2026 | +164.0% | +27.0% | +85.6% | +76.3% | — |
| Apr 30, 2026 | +75.0% | +11.5% | +47.5% | +62.8% | -32.6% |
| Feb 19, 2026 | -25.0% | +1.1% | +74.0% | +107.1% | +388.4% |
| Oct 30, 2025 | +72.7% | +3.5% | +28.7% | +47.8% | +143.3% |
| Jul 31, 2025 | -15.4% | -1.9% | -2.4% | +35.4% | +144.3% |
| May 1, 2025 | -46.2% | -3.6% | -8.6% | +8.6% | +74.3% |
| Feb 20, 2025 | -150.0% | -0.4% | -42.6% | -23.9% | -37.0% |
| Oct 31, 2024 | +16.7% | -6.5% | -23.6% | -26.1% | -24.6% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Jul 30, 2026 | $0.19 | $0.07 | +164.0% | $47.6M |
| Apr 30, 2026 | -$0.01 | -$0.04 | +75.0% | $26.9M |
| Feb 19, 2026 | -$0.05 | -$0.04 | -25.0% | $23.0M |
| Oct 30, 2025 | -$0.03 | -$0.11 | +72.7% | $28.0M |
| Jul 31, 2025 | -$0.15 | -$0.13 | -15.4% | $18.0M |
| May 1, 2025 | -$0.19 | -$0.13 | -46.2% | $19.4M |
| Feb 20, 2025 | -$0.10 | -$0.04 | -150.0% | $25.1M |
| Oct 31, 2024 | -$0.05 | -$0.06 | +16.7% | $23.6M |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| P/E (trailing) | 3592.9× | 19.1× | 100th | Bottom 41% |
| P/E (forward) | 100.3× | — | — | — |
| EV / EBITDA | 275.9× | — | — | Bottom 31% |
| EV / Sales | 32.12× | — | — | Bottom 8% |
| Free-cash-flow yield | -0.45% | — | — | Bottom 26% |
| Earnings yield | 0.03% | — | — | Bottom 41% |
P/E over the past five years
Range 10.3× – 39.0× since Jun 30, 2021. Each point: price on the filing date divided by trailing-twelve-month EPS known then.
Technical state
Trend checklist
- ✓ Price above 20-day average
- ✓ Price above 50-day average
- ✓ Price above 200-day average
- ✓ 50-day average above 200-day
- ✓ MACD histogram positive
Trend quality
- Days above the 50-day average
- 13
- Days above the 200-day average
- 46
- 50-day average slope (20 days)
- +8.2%
- 200-day average slope (20 days)
- +11.0%
- Distance from 50-day average
- +25.9%
- Distance from 200-day average
- +42.3%
- RSI (14)
- 62.7
- Relative volume
- 0.82×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 154.7%
- Volatility vs own 5-year history
- 87th percentile · High for this stock
- Beta vs S&P 500 (2 years, weekly)
- 2.69
- Correlation with S&P 500
- 0.35
- Current drawdown from 1-year high
- -39.0%
- Maximum drawdown, 3 years
- -78.5%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Feb 19, 2021 | Apr 11, 2025 | -92.5% | 1041 days | 167 days (Dec 10, 2025) |
| May 22, 2026 | Jul 29, 2026 | -73.8% | 45 days | Not yet recovered |
| Mar 24, 2026 | Apr 6, 2026 | -38.6% | 8 days | 8 days (Apr 16, 2026) |
| Jan 8, 2026 | Jan 29, 2026 | -36.6% | 14 days | 7 days (Feb 9, 2026) |
| Mar 2, 2026 | Mar 6, 2026 | -30.1% | 4 days | 3 days (Mar 11, 2026) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $4.36B
- P/E (TTM)
- 3,592.9
- EPS, diluted (TTM)
- $0.02
- Revenue (TTM)
- $125.5M
- 52-week range
- $4.00 – $143.16
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $137.4M | $141.1M | $75.8M | $99.4M | $88.3M |
| Gross profit | $47.4M | $52.1M | $13.3M | $23.8M | $11.2M |
| Operating income | $12.9M | $12.6M | -$21.6M | -$14.8M | -$22.0M |
| Net income | $14.6M | $15.8M | -$17.9M | -$11.6M | -$21.3M |
| EPS (diluted) | $0.34 | $0.37 | -$0.42 | -$0.27 | -$0.49 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $23.6M | $25.1M | $19.4M | $18.0M | $28.0M | $23.0M | $26.9M | $47.6M |
| Net income | -$2.9M | -$5.1M | -$8.8M | -$7.0M | -$1.9M | -$3.5M | -$1.6M | $11.1M |
| EPS (diluted) | -$0.07 | -$0.12 | -$0.20 | -$0.16 | -$0.04 | -$0.08 | -$0.03 | $0.18 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | -$3.3M | -$8.8M | $3.4M | -$12.1M | -$12.8M |
| Capital expenditure | -$29.6M | -$28.5M | -$10.5M | -$5.8M | -$6.0M |
| Free cash flow | -$33.0M | -$37.2M | -$7.1M | -$17.9M | -$18.8M |
| Dividends paid | $0 | $0 | $0 | $0 | $0 |
| Net share buybacks | -$1.1M | $518,000 | $10,000 | $28,000 | $95.2M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $417.2M
- Total assets
- $1.10B
- Total liabilities
- $145.3M
- Total debt
- $85.4M
- Net debt
- -$326.8M
- Shareholders’ equity
- $887.3M
As of Jun 30, 2026 (filed Aug 13, 2026).
Short interest
- Shares sold short
- 8,813,840
- Days to cover
- 1.09
- Change vs previous report
- -4.1%
FINRA short interest, settlement date Sep 15, 2026.