AXT Inc
AXT, Inc. designs, develops, manufactures, and distributes compound and single element semiconductor substrates. The company offers indium phosphide for use in data center connectivity using light/lasers, high-speed data transfer in data centers, 5G communications, fiber optic lasers and detectors, consumer devices, passive optical networks, silicon photonics, photonic integrated circuits, thermo… Read more
AXT Inc (AXTI) - Net Assets
Latest net assets as of December 2025: $334.63 Million USD
Based on the latest financial reports, AXT Inc (AXTI) has net assets worth $334.63 Million USD as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($433.75 Million) and total liabilities ($99.12 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $334.63 Million |
| % of Total Assets | 77.15% |
| Annual Growth Rate | 7.2% |
| 5-Year Change | 19.41% |
| 10-Year Change | 138.53% |
| Growth Volatility | 40.88 |
AXT Inc - Net Assets Trend (1998–2025)
This chart illustrates how AXT Inc's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for AXT Inc (1998–2025)
The table below shows the annual net assets of AXT Inc from 1998 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $334.63 Million | +31.28% |
| 2024-12-31 | $254.91 Million | -5.29% |
| 2023-12-31 | $269.15 Million | -7.11% |
| 2022-12-31 | $289.75 Million | +3.40% |
| 2021-12-31 | $280.23 Million | +9.67% |
| 2020-12-31 | $255.53 Million | +32.56% |
| 2019-12-31 | $192.76 Million | -0.91% |
| 2018-12-31 | $194.53 Million | +3.30% |
| 2017-12-31 | $188.32 Million | +34.23% |
| 2016-12-31 | $140.29 Million | +1.98% |
| 2015-12-31 | $137.56 Million | -4.93% |
| 2014-12-31 | $144.69 Million | -0.59% |
| 2013-12-31 | $145.55 Million | -3.56% |
| 2012-12-31 | $150.91 Million | +2.63% |
| 2011-12-31 | $147.05 Million | +22.74% |
| 2010-12-31 | $119.80 Million | +23.19% |
| 2009-12-31 | $97.25 Million | +3.83% |
| 2008-12-31 | $93.66 Million | +0.44% |
| 2007-12-31 | $93.25 Million | +14.84% |
| 2006-12-31 | $81.20 Million | +46.00% |
| 2005-12-31 | $55.62 Million | -18.23% |
| 2004-12-31 | $68.02 Million | -17.35% |
| 2003-12-31 | $82.30 Million | -22.11% |
| 2002-12-31 | $105.66 Million | -43.29% |
| 2001-12-31 | $186.32 Million | +0.53% |
| 2000-12-31 | $185.35 Million | +196.75% |
| 1999-12-31 | $62.46 Million | +21.99% |
| 1998-12-31 | $51.20 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to AXT Inc's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 508.3% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $55.00K | 0.02% |
| Other Comprehensive Income | $-5.29 Million | -1.94% |
| Other Components | $343.45 Million | 125.67% |
| Total Equity | $273.29 Million | 100.00% |
AXT Inc Competitors by Market Cap
The table below lists competitors of AXT Inc ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Sinotruk Jinan Truck Co Ltd
SHE:000951
|
$1.65 Billion |
|
Xinjiang Daqo New Energy Co Ltd
SHG:688303
|
$1.65 Billion |
|
Grinm Advanced Materials Co Ltd
SHG:600206
|
$1.65 Billion |
|
KCC Corporation
KO:002380
|
$1.65 Billion |
|
Foschini Group Ltd (The)
PINK:FHHGF
|
$1.64 Billion |
|
Elekta AB ser. B
LSE:0O5H
|
$1.64 Billion |
|
Trainline Plc
PINK:TNLIF
|
$1.64 Billion |
|
NCsoft Corp
KO:036570
|
$1.64 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in AXT Inc's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 192,770,000 to 273,290,000, a change of 80,520,000 (41.8%).
- Net loss of 21,260,000 reduced equity.
- Other comprehensive income increased equity by 3,362,000.
- Other factors increased equity by 98,418,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $-21.26 Million | -7.78% |
| Other Comprehensive Income | $3.36 Million | +1.23% |
| Other Changes | $98.42 Million | +36.01% |
| Total Change | $- | 41.77% |
Book Value vs Market Value Analysis
This analysis compares AXT Inc's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 7.13x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 14.14x to 7.13x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1998-12-31 | $3.14 | $44.36 | x |
| 1999-12-31 | $3.16 | $44.36 | x |
| 2000-12-31 | $8.80 | $44.36 | x |
| 2001-12-31 | $8.13 | $44.36 | x |
| 2002-12-31 | $4.71 | $44.36 | x |
| 2003-12-31 | $3.61 | $44.36 | x |
| 2004-12-31 | $2.95 | $44.36 | x |
| 2005-12-31 | $2.41 | $44.36 | x |
| 2006-12-31 | $3.30 | $44.36 | x |
| 2007-12-31 | $2.97 | $44.36 | x |
| 2008-12-31 | $3.08 | $44.36 | x |
| 2009-12-31 | $3.10 | $44.36 | x |
| 2010-12-31 | $3.56 | $44.36 | x |
| 2011-12-31 | $4.20 | $44.36 | x |
| 2012-12-31 | $4.37 | $44.36 | x |
| 2013-12-31 | $4.27 | $44.36 | x |
| 2014-12-31 | $4.26 | $44.36 | x |
| 2015-12-31 | $4.10 | $44.36 | x |
| 2016-12-31 | $4.13 | $44.36 | x |
| 2017-12-31 | $4.72 | $44.36 | x |
| 2018-12-31 | $4.74 | $44.36 | x |
| 2019-12-31 | $4.76 | $44.36 | x |
| 2020-12-31 | $4.70 | $44.36 | x |
| 2021-12-31 | $4.95 | $44.36 | x |
| 2022-12-31 | $5.19 | $44.36 | x |
| 2023-12-31 | $4.78 | $44.36 | x |
| 2024-12-31 | $4.47 | $44.36 | x |
| 2025-12-31 | $6.22 | $44.36 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently AXT Inc utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): -7.78%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -24.07%
- • Asset Turnover: 0.20x
- • Equity Multiplier: 1.59x
- Recent ROE (-7.78%) is below the historical average (-3.36%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1998 | 12.30% | 14.55% | 0.58x | 1.46x | $1.18 Million |
| 1999 | 0.28% | 0.21% | 0.70x | 1.85x | $-6.07 Million |
| 2000 | 11.66% | 17.79% | 0.49x | 1.35x | $3.08 Million |
| 2001 | -2.68% | -4.18% | 0.51x | 1.26x | $-23.63 Million |
| 2002 | -76.83% | -128.50% | 0.43x | 1.38x | $-91.75 Million |
| 2003 | -32.48% | -77.01% | 0.32x | 1.30x | $-34.96 Million |
| 2004 | -20.04% | -38.45% | 0.41x | 1.29x | $-20.43 Million |
| 2005 | -21.96% | -46.03% | 0.35x | 1.34x | $-17.78 Million |
| 2006 | 1.16% | 2.12% | 0.45x | 1.21x | $-7.18 Million |
| 2007 | 5.67% | 9.09% | 0.52x | 1.21x | $-4.04 Million |
| 2008 | -0.74% | -0.94% | 0.65x | 1.19x | $-10.06 Million |
| 2009 | -2.01% | -3.43% | 0.51x | 1.14x | $-11.36 Million |
| 2010 | 16.11% | 19.53% | 0.68x | 1.21x | $7.08 Million |
| 2011 | 14.64% | 19.52% | 0.64x | 1.17x | $6.44 Million |
| 2012 | 2.17% | 3.52% | 0.53x | 1.17x | $-11.25 Million |
| 2013 | -5.70% | -9.33% | 0.52x | 1.17x | $-21.92 Million |
| 2014 | -1.00% | -1.66% | 0.52x | 1.17x | $-15.21 Million |
| 2015 | -1.69% | -2.87% | 0.51x | 1.15x | $-15.43 Million |
| 2016 | 4.15% | 6.93% | 0.53x | 1.13x | $-7.96 Million |
| 2017 | 5.52% | 10.28% | 0.47x | 1.15x | $-8.23 Million |
| 2018 | 5.06% | 9.43% | 0.46x | 1.17x | $-9.43 Million |
| 2019 | -0.85% | -1.91% | 0.37x | 1.19x | $-20.38 Million |
| 2020 | 1.68% | 3.40% | 0.32x | 1.55x | $-16.02 Million |
| 2021 | 6.89% | 10.61% | 0.41x | 1.57x | $-6.58 Million |
| 2022 | 7.13% | 11.20% | 0.38x | 1.67x | $-6.35 Million |
| 2023 | -8.77% | -23.59% | 0.21x | 1.76x | $-38.28 Million |
| 2024 | -6.03% | -11.70% | 0.29x | 1.76x | $-30.90 Million |
| 2025 | -7.78% | -24.07% | 0.20x | 1.59x | $-48.59 Million |
Industry Comparison
This section compares AXT Inc's net assets metrics with peer companies in the Semiconductor Equipment & Materials industry.
Industry Context
- Industry: Semiconductor Equipment & Materials
- Average net assets among peers: $15,545,560,602
- Average return on equity (ROE) among peers: 11.87%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| AXT Inc (AXTI) | $334.63 Million | 12.30% | 0.30x | $1.65 Billion |
| Axcelis Technologies Inc (ACLS) | $205.57 Million | -8.55% | 0.37x | $2.62 Billion |
| Acm Research Inc (ACMR) | $2.48 Million | 41.49% | 16.89x | $2.51 Billion |
| Advantest Corporation (ADTTF) | $140.94 Billion | 9.19% | 0.94x | $27.29 Billion |
| Aehr Test Systems (AEHR) | $11.28 Million | -4.26% | 0.28x | $1.01 Billion |
| AEM Holdings Ltd. (AEMFF) | $211.43 Million | 46.16% | 0.59x | $164.30 Million |
| AIXTRON SE (AIXXF) | $910.07 Million | 9.37% | 0.14x | $996.24 Million |
| Applied Materials Inc (AMAT) | $254.40 Million | 20.24% | 0.71x | $278.50 Billion |
| Ambarella Inc (AMBA) | $561.41 Million | -20.86% | 0.23x | $2.14 Billion |
| Amkor Technology Inc (AMKR) | $4.00 Billion | 9.01% | 0.69x | $5.65 Billion |
| ASML Holding NV (ASMLF) | $8.37 Billion | 16.95% | 0.56x | $267.08 Billion |