Question 1

What is AXT's P/S ratio?

Accepted Answer

AXT (AXTI) P/S ratio is 26.6× as of July 27, 2026. The ratio is calculated by dividing market capitalisation by trailing twelve-month revenue, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/S ratio calculated?

Accepted Answer

P/S = Market Capitalisation ÷ Trailing Twelve-Month (TTM) Revenue, or equivalently Share Price ÷ TTM Revenue Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/S ratio?

Accepted Answer

The price-to-sales (P/S) ratio compares a company's market capitalisation to its trailing twelve-month (TTM) revenue. It is calculated as market cap ÷ TTM revenue (equivalent to share price ÷ TTM revenue per share). Because the denominator (revenue) cannot be negative, P/S is widely used to value unprofitable or pre-profit companies and to make cross-sector comparisons.

Question 4

What is a good P/S ratio for AXT?

Accepted Answer

A "good" P/S depends heavily on profit margin and growth: software and other high-margin businesses often command 5–15× sales, while low-margin retailers and commodity producers typically trade below 1×. Compare against sector peers rather than absolute thresholds. For AXT specifically, the relevant sector benchmark is the current sector median of 5.9×.

Question 5

Is AXT's P/S ratio high or low?

Accepted Answer

AXT's P/S ratio of 26.6× is above its own 5-year average of 3.6× and above the sector median of 5.9×. That places the current reading at the 93th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is AXT's historical P/S ratio range?

Accepted Answer

In the available daily series, AXT (AXTI) P/S ratio has ranged from a low of 0.3× in 2003 to a high of 78.3× in 2026. The 5-year average is 3.6× and the 5-year median is 1.7×.

Question 7

What was AXT's P/S ratio in 2025?

Accepted Answer

AXT (AXTI) P/S ratio at the end of 2025 was 8.3×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month revenue figure available at that date.

Question 8

Why does AXT's P/S ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (revenue). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$731M	$88.3M	8.3×	+7.3×	Dec 31, 2025
2024	$94.1M	$99.4M	0.9×	-0.4×	Dec 31, 2024
2023	$103M	$75.8M	1.4×	+0.0×	Dec 31, 2023
2022	$186M	$141M	1.3×	-1.4×	Dec 31, 2022
2021	$368M	$137M	2.7×	-1.4×	Dec 31, 2021
2020	$389M	$95.4M	4.1×	+2.0×	Dec 31, 2020
2019	$172M	$83.3M	2.1×	+0.4×	Dec 31, 2019
2018	$171M	$102M	1.7×	-1.8×	Dec 31, 2018
2017	$337M	$98.7M	3.4×	+1.5×	Dec 31, 2017
2016	$156M	$81.3M	1.9×	+0.9×	Dec 31, 2016
2015	$79.2M	$77.5M	1.0×	-0.1×	Dec 31, 2015
2014	$91.2M	$83.5M	1.1×	+0.1×	Dec 31, 2014
2013	$85.2M	$85.3M	1.0×	-0.0×	Dec 31, 2013
2012	$90.5M	$88.4M	1.0×	-0.3×	Dec 31, 2012
2011	$134M	$104M	1.3×	-2.2×	Dec 31, 2011
2010	$331M	$95.5M	3.5×	+1.7×	Dec 31, 2010
2009	$99.9M	$55.4M	1.8×	+1.2×	Dec 31, 2009
2008	$41M	$73.1M	0.6×	-2.7×	Dec 31, 2008
2007	$188M	$58.2M	3.2×	+0.1×	Dec 31, 2007
2006	$141M	$44.4M	3.2×	+1.3×	Dec 31, 2006
2005	$49.2M	$26.5M	1.9×	+0.8×	Dec 31, 2005
2004	$36.5M	$35.5M	1.0×	-0.8×	Dec 31, 2004
2003	$71.4M	$38.8M	1.8×	+1.2×	Dec 31, 2003
2002	$40.3M	$63.2M	0.6×	—	Dec 31, 2002


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Science Applications International (SAIC)	0.6×
Super Micro Computer (SMCI)	0.4×
HP (HPQ)	0.3×

P/S Ratio for AXT (AXTI) 2002-2026

P/S Ratio daily chart for AXT (AXTI)

Historical P/S Ratio for AXT (AXTI) from 2002 to 2025

About P/S Ratio at AXT (AXTI)

AXT P/S Ratio by Year

AXT P/S Ratio 2025: 8.3×

AXT P/S Ratio 2024: 0.9×

AXT P/S Ratio 2023: 1.4×

AXT P/S Ratio 2022: 1.3×

AXT P/S Ratio 2021: 2.7×

Sector peers by P/S Ratio — chart

Sector peers by P/S Ratio — table

Frequently asked questions

AXT (AXTI) Key Financials