AXT vs PDF Solutions
PDF Solutions reported revenue of $219 million in fiscal 2025, 2.5 times AXT's $88 million in fiscal 2025. AXT's revenue fell 11.1% in its latest year, and PDF Solutions' grew 22.0%. AXT had an operating margin of -24.9%, against 2.7% at PDF Solutions. Free cash flow was −$19 million at AXT and −$9 million at PDF Solutions.
Side by side
| AXT | PDF Solutions | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $88M | $219M |
| Revenue growth | −11.1% | 22.0% |
| Revenue growth a year, last 5 years | −1.5% | 20.0% |
| Gross margin | 12.7% | 72.3% |
| Operating margin | −24.9% | 2.7% |
| Net margin | −24.1% | −0.3% |
| Free cash flow | −$19M | −$9M |
| Free cash flow margin | −21.3% | −3.9% |
| Return on capital | — | 1.4% |
| Net debt to EBITDA | — | 2.5x |
| Dividends and buybacks | $0M | $0M |
| Change in diluted share count | 1.8% | 0.7% |
| Last close | $38.88 | $37.61 |
| P/E at the last close | — | 99.0× |
| Insider trades, last 12 months | sold $76.3 million | sold $227,984 |
| Piotroski F-score | — | 4 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
AXTPDF Solutions
Operating margin
Percent of revenue
AXTPDF Solutions
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
AXTPDF Solutions
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the AXT and PDF Solutions pages.