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AIXTRON SE (DE:AIXA)
:AIXA
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AIXTRON (AIXA) AI Stock Analysis

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DE:AIXA

AIXTRON

(LSE:AIXA)

Rating:70Outperform
Price Target:
€18.00
▲(14.07%Upside)
AIXTRON's overall score is driven by its strong financial performance and fair valuation, despite some concerns over recent profitability declines and cash flow volatility. The technical analysis suggests bullish momentum, although caution is advised due to overbought indicators.
Positive Factors
Growth Outlook
Management highlighted the attractive medium-term growth outlook for GaN across applications such as AI power delivery and EV on-board chargers.
Order Intake
Q3 could bring a relief on good order intake.
Negative Factors
Margin Guidance Skepticism
Skepticism remains on FY24 margin guidance, which appears stretched and requires a significant increase versus recent years.
Revenue Decline
FY25 revenue could decline by 5-10% year-over-year due to lack of signs for a near-term SiC/EV recovery, ongoing delays in GaN's broad adoption, and a slowdown in LED shipments.
Stock Performance
The stock has been the worst performer in our coverage universe in 2024 so far and now has fallen well below our price target.

AIXTRON (AIXA) vs. iShares MSCI Germany ETF (EWG)

AIXTRON Business Overview & Revenue Model

Company DescriptionAIXTRON SE, together with its subsidiaries, provides deposition equipment to the semiconductor industry in Asia, Europe, and the Americas. It develops, produces, sells, maintains, and installs equipment for the deposition of semiconductor materials; and provides consulting and training, customer support, and peripheral equipment and services, as well as sells spare parts and services. The company supplies deposition equipment for volume production, as well as equipment for research and development, and pre-series production. Its technology solutions are used to build components for electronic and optoelectronic applications that are used in laser, LED, display technologies, optical and wireless data transmission, SiC and GaN power electronics, optical and electronic storage devices, computing, and signaling and lighting technology, as well as other applications. AIXTRON SE was founded in 1983 and is headquartered in Herzogenrath, Germany.
How the Company Makes MoneyAIXTRON makes money by designing, manufacturing, and selling deposition equipment primarily used in the semiconductor industry. Their revenue model is centered around the sale of these complex systems to manufacturers of semiconductor devices. Key revenue streams include the sale of new equipment, spare parts, and after-sales services such as maintenance and technical support. The company benefits from partnerships and collaborations with key industry players, enhancing its market position and expanding its technological capabilities. Factors contributing to its earnings include the growing demand for advanced semiconductor devices across various industries and the continuous innovation in deposition technology to meet evolving customer needs.

AIXTRON Financial Statement Overview

Summary
AIXTRON shows strong profitability with consistent revenue growth and low leverage. However, recent declines in profitability and cash flow volatility are concerns. The company's solid equity position and healthy margins support its financial robustness.
Income Statement
78
Positive
AIXTRON demonstrates a strong gross profit margin and consistent revenue growth over the years. The net profit margin indicates solid profitability, although it slightly decreased in the most recent year. The EBIT and EBITDA margins are healthy, suggesting efficient operations. However, recent profitability metrics show some decline, which could be a concern if the trend continues.
Balance Sheet
75
Positive
The balance sheet reflects a robust equity position with a low debt-to-equity ratio, indicating low leverage and financial stability. The equity ratio is strong, showing a healthy proportion of assets funded by equity. However, the decline in cash and cash equivalents over recent years may need monitoring to ensure liquidity remains sufficient.
Cash Flow
68
Positive
Free cash flow has been volatile, with negative figures in recent years, indicating potential challenges in cash generation. The operating cash flow to net income ratio is low, reflecting challenges in converting earnings to cash. Free cash flow to net income has also been negative, suggesting a need for improved cash flow management and operational efficiency.
BreakdownDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue633.16M629.88M463.17M428.95M269.25M
Gross Profit262.47M279.03M195.27M181.48M108.29M
EBITDA146.85M169.50M114.37M108.23M45.07M
Net Income106.28M145.19M100.44M95.66M34.88M
Balance Sheet
Total Assets1.02B1.03B902.58M740.70M590.43M
Cash, Cash Equivalents and Short-Term Investments64.60M181.68M325.16M352.49M249.68M
Total Debt5.02M5.44M7.96M4.03M2.98M
Total Liabilities170.34M252.37M239.26M148.53M94.05M
Stockholders Equity847.87M777.37M663.11M591.99M495.39M
Cash Flow
Free Cash Flow-72.47M-109.93M7.48M-30.96M-48.45M
Operating Cash Flow26.23M-47.29M37.14M-13.50M-39.16M
Investing Cash Flow-15.04M78.12M-48.27M-17.49M-41.48M
Financing Cash Flow-46.47M-35.88M-34.59M-8.59M-904.00K

AIXTRON Technical Analysis

Technical Analysis Sentiment
Positive
Last Price15.78
Price Trends
50DMA
14.34
Positive
100DMA
12.83
Positive
200DMA
13.40
Positive
Market Momentum
MACD
0.32
Positive
RSI
50.21
Neutral
STOCH
14.51
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:AIXA, the sentiment is Positive. The current price of 15.78 is below the 20-day moving average (MA) of 15.95, above the 50-day MA of 14.34, and above the 200-day MA of 13.40, indicating a neutral trend. The MACD of 0.32 indicates Positive momentum. The RSI at 50.21 is Neutral, neither overbought nor oversold. The STOCH value of 14.51 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DE:AIXA.

AIXTRON Peers Comparison

Overall Rating
UnderperformOutperform
Sector (63)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
70
Outperform
€1.78B17.6812.25%0.95%-6.50%-34.18%
63
Neutral
$34.72B5.19-11.20%1.67%5.59%-16.73%
€1.55B12.6723.28%1.12%
€2.56M-39.23%
€1.29B31.942.02%0.47%
€742.45M13.1521.21%0.77%
78
Outperform
€111.10M4.2826.96%57.50%38.81%
* Technology Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
DE:AIXA
AIXTRON
15.39
-5.66
-26.88%
GB:0N9K
ELMOS Semiconductor
93.00
19.82
27.08%
GB:0J9O
Manz AG
0.19
-5.13
-96.43%
GB:0R8P
Siltronic
43.75
-30.38
-40.98%
GB:0Q3C
Suss Microtec
40.77
-18.93
-31.71%
DE:CTNK
centrotherm international AG
5.25
0.76
16.93%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jul 04, 2025