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AIXTRON SE (DE:AIXA)
XETRA:AIXA

AIXTRON (AIXA) AI Stock Analysis

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DE

AIXTRON

(XETRA:AIXA)

Rating:73Outperform
Price Target:
€14.00
▲(9.55%Upside)
AIXTRON's strong financial performance, highlighted by profitability and low leverage, significantly influences the score. While technical indicators and valuation are favorable, concerns about cash flow volatility and recent declines in profitability metrics lower the overall score.
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 generates revenue through the sale of its advanced deposition systems, which are used in the production of compound semiconductors. These systems are critical for manufacturing LEDs, lasers, and other optoelectronic devices. The company also earns from service contracts, spare parts, and upgrades for its equipment. Significant partnerships with semiconductor manufacturers and research institutions further bolster its earnings, as these collaborations often lead to the development of cutting-edge technology solutions that cater to emerging market needs. Additionally, AIXTRON's focus on R&D and its ability to adapt to industry trends in energy efficiency and next-generation communication technologies contribute significantly to its revenue streams.

AIXTRON Financial Statement Overview

Summary
AIXTRON demonstrates strong profitability and low leverage, with a robust equity position. However, declines in profitability metrics and cash flow volatility are concerns that need addressing.
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.
Breakdown
TTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income StatementTotal Revenue
627.38M633.16M629.88M463.17M428.95M269.25M
Gross Profit
252.82M262.47M279.03M195.27M181.48M108.29M
EBIT
124.55M131.23M156.77M104.70M98.98M34.83M
EBITDA
140.33M146.85M169.50M114.37M108.23M45.07M
Net Income Common Stockholders
100.51M106.28M145.19M100.44M95.66M34.88M
Balance SheetCash, Cash Equivalents and Short-Term Investments
148.48M64.60M181.68M325.16M352.49M249.68M
Total Assets
1.04B1.02B1.03B902.58M740.70M590.43M
Total Debt
3.89M5.02M5.44M7.96M4.03M2.98M
Net Debt
-90.31M-59.06M-92.59M-96.79M-146.83M-184.28M
Total Liabilities
245.89M170.34M252.37M239.26M148.53M94.05M
Stockholders Equity
790.16M847.87M777.37M663.11M591.99M495.39M
Cash FlowFree Cash Flow
-8.66M-72.47M-109.93M7.48M-30.96M-48.45M
Operating Cash Flow
69.34M26.23M-47.29M37.14M-13.50M-39.16M
Investing Cash Flow
-39.37M-15.04M78.12M-48.27M-17.49M-41.48M
Financing Cash Flow
-46.68M-46.47M-35.88M-34.59M-8.59M-904.00K

AIXTRON Technical Analysis

Technical Analysis Sentiment
Positive
Last Price12.78
Price Trends
50DMA
11.52
Positive
100DMA
12.18
Positive
200DMA
13.48
Negative
Market Momentum
MACD
0.17
Positive
RSI
57.77
Neutral
STOCH
79.79
Neutral
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 12.78 is above the 20-day moving average (MA) of 12.59, above the 50-day MA of 11.52, and below the 200-day MA of 13.48, indicating a neutral trend. The MACD of 0.17 indicates Positive momentum. The RSI at 57.77 is Neutral, neither overbought nor oversold. The STOCH value of 79.79 is Neutral, 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 (62)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
73
Outperform
€1.42B14.0912.25%1.19%-6.50%-34.18%
62
Neutral
$11.80B10.31-7.45%2.91%7.43%-7.78%
€1.27B10.3423.28%1.35%
€1.54M-39.23%
€1.11B27.912.02%0.54%
€749.71M13.0321.21%0.52%
86
Outperform
€118.51M4.5726.96%57.50%38.81%
* Technology Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
DE:AIXA
AIXTRON
12.79
-9.46
-42.52%
GB:0N9K
ELMOS Semiconductor
77.00
-9.80
-11.29%
GB:0J9O
Manz AG
0.30
-7.02
-95.90%
GB:0R8P
Siltronic
37.83
-37.29
-49.64%
GB:0Q3C
Suss Microtec
40.84
-20.31
-33.21%
DE:CTNK
centrotherm international AG
5.60
1.32
30.84%
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.

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.