Siltronic AG (DE:WAF)
XETRA:WAF
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Siltronic
(XETRA:WAF)
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Rating:58Neutral
Price Target:
€85.00
▲(24.00% Upside)
Action:Reiterated
Date:05/30/26
The score is held back mainly by weakened financial performance—losses, sharply compressed margins, and sustained negative free cash flow—despite a still-serviceable balance sheet. Offsetting this, technical indicators show strong bullish price momentum. Valuation is mixed: the negative P/E reflects current losses, while the very high dividend yield adds support if it proves durable.
Positive Factors
Critical Product Offering
Siltronic supplies essential, high-spec silicon wafers used as the substrate for advanced logic, memory and other ICs. This product centrality creates durable customer dependency, high technical barriers to entry, and long sales cycles that support steady demand from major foundries and IDMs over months.
Negative Factors
Revenue & Margin Deterioration
A sustained revenue decline coupled with a collapse in gross and net margins signals structural pricing pressure or demand weakness. Over several months this erodes pricing power and fixed-cost absorption, risks further margin compression, and undermines the company's ability to restore profitability without structural changes.
Read all positive and negative factors
Positive Factors
Negative Factors
Critical Product Offering
Siltronic supplies essential, high-spec silicon wafers used as the substrate for advanced logic, memory and other ICs. This product centrality creates durable customer dependency, high technical barriers to entry, and long sales cycles that support steady demand from major foundries and IDMs over months.
Read all positive factors
Siltronic (WAF) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€2.71B
Dividend Yield0.43%
Average Volume (3M)125.47K
Price to Earnings (P/E)―
Beta (1Y)1.81
Revenue Growth-7.60%
EPS Growth-425.45%
CountryDE
Employees4,400
SectorGeneral
Sector StrengthN/A
IndustrySemiconductors
Share Statistics
EPS (TTM)-4.31
Shares Outstanding33,000,000
10 Day Avg. Volume114,113
30 Day Avg. Volume125,470
Financial Highlights & Ratios
PEG Ratio0.10
Price to Book (P/B)0.80
Price to Sales (P/S)1.09
P/FCF Ratio-9.78
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€78.00Price Target Upside13.79% Upside
Rating ConsensusHold
Number of Analyst Covering8
EPS Forecast (FY)-7.19
Revenue Forecast (FY)€1.30B
Siltronic Business Overview & Revenue Model
Company Description
Globally, Siltronic AG and its subsidiaries specialize in the production and sale of exceptionally pure semiconductor silicon wafers, offered in diameters reaching up to 300 mm. Their comprehensive product line includes both polished and epitaxial...
How the Company Makes Money
Siltronic makes money primarily by manufacturing and selling polished silicon wafers to semiconductor manufacturers (chipmakers). Revenue is generated through customer supply agreements and purchase orders that specify wafer type (e.g., diameter, ...
Siltronic Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
54
Neutral
Cash Flow
45
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.31B | 1.35B | 1.41B | 1.51B | 1.81B | 1.41B |
| Gross Profit | 30.20M | 111.20M | 275.40M | 372.20M | 615.30M | 441.20M |
| EBITDA | 285.20M | 306.40M | 348.60M | 455.90M | 690.70M | 480.00M |
| Net Income | -129.20M | -69.20M | 63.00M | 184.40M | 390.60M | 253.30M |
Balance Sheet | ||||||
| Total Assets | 4.71B | 4.80B | 5.08B | 4.50B | 4.05B | 2.46B |
| Cash, Cash Equivalents and Short-Term Investments | 445.10M | 531.30M | 663.70M | 456.90M | 1.04B | 555.40M |
| Total Debt | 1.51B | 1.49B | 1.52B | 904.60M | 770.50M | 105.80M |
| Total Liabilities | 2.71B | 2.77B | 2.87B | 2.41B | 1.98B | 1.14B |
| Stockholders Equity | 1.82B | 1.84B | 2.01B | 1.90B | 1.89B | 1.19B |
Cash Flow | ||||||
| Free Cash Flow | -158.10M | -150.00M | -355.40M | -710.90M | -118.20M | 108.40M |
| Operating Cash Flow | 193.30M | 230.10M | 344.50M | 487.90M | 804.50M | 501.10M |
| Investing Cash Flow | -152.20M | -177.70M | -959.80M | -628.90M | -1.33B | -322.20M |
| Financing Cash Flow | -13.00M | -16.20M | 525.60M | 42.80M | 577.10M | -64.50M |
Siltronic Technical Analysis
Neutral
68.55
Price Trends
88.11
Negative
71.64
Positive
60.67
Positive
Market Momentum
-0.57
Positive
41.00
Neutral
7.01
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:WAF, the sentiment is Neutral. The current price of 68.55 is below the 20-day moving average (MA) of 93.01, below the 50-day MA of 88.11, and above the 200-day MA of 60.67, indicating a neutral trend. The MACD of -0.57 indicates Positive momentum. The RSI at 41.00 is Neutral, neither overbought nor oversold. The STOCH value of 7.01 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for DE:WAF.
Siltronic Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | €6.36B | 98.34 | 6.63% | 0.88% | -19.76% | -42.17% | |
79 Outperform | €202.10M | 10.55 | 15.59% | ― | -11.39% | -26.05% | |
65 Neutral | €1.76B | 47.50 | 10.88% | 0.78% | -1.96% | -40.65% | |
62 Neutral | €1.69B | 68.02 | 4.50% | 4.66% | -3.90% | 60.48% | |
58 Neutral | €2.71B | -19.03 | -6.91% | 0.43% | -7.60% | -425.45% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | €949.17M | 448.05 | 1.42% | ― | -10.17% | -91.85% |
* General Sector Average
DE:WAF
Siltronic
82.00
41.30
101.47%
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DE:CTNK
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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.