What is AXT's net debt?

AXT (AXTI) reported net debt of $23.93M in Q1 2026.

How has AXT's net debt changed year-over-year?

AXT's net debt increased by 11.0% year-over-year, from $21.57M to $23.93M.

What is the long-term trend for AXT's net debt?

Over 5 years (2020 to 2025), AXT's net debt has grown at a -3.1% compound annual growth rate (CAGR), from -$69.78M to -$59.65M.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

AXT AXTI Net debt

Discontinued — last reported Q1 '26

Net debt at other companies

SeaboardSEB

2×-0.4×

Sabra HealthcareSBRA

-0.2×-0.3×

TDS

Telephone and Data SystemsTDS

-0.2×-25.0×

Liberty GlobalLBTYB

8.1×-1.0×

Mirion TechnologiesMIR

0.4×-2.5×

CleanSparkCLSK

-21.7×—

Other financials

Income statement

See full

Revenue$26.9M+39.1%

Gross profit-$1.2M-120%

Operating income-$10.3M-207%

Net income-$1.5M+83.1%

EPS (diluted)-$0.20-300%

Balance sheet

See full

Cash & equivalents$41.8M+32.2%

Total debt$65.7M+23.6%

Total equity$274.9M+48.6%

Total assets$444.6M+33.3%

Cash flow

See full

Operating cash flow-$11.7M-249%

CapEx$1.4M+169%

Free cash flow-$13.1M-239%

Valuation

See full

Market cap$5.53B+4,825%

Enterprise value$5.56B+3,616%

P/S57.7×+56.5×

Profitability

See full

Gross margin17.2%-0.9pp

Operating margin-22.6%-2.5pp

Net margin-15.3%-2.5pp

FCF margin-30.5%—

Returns & leverage

See full

Return on equity-6.4%-1.6pp

Debt / equity0.2×0.0×

Current ratio2.6×+0.6×

Where this comes from

Calculated from AXT’s reported figures.

$65.7Mtotal debt−$41.8Mcash and equivalents=$23.93M

The official record: AXT’s 10-Q, filed May 14, 2026, on SEC EDGAR. View the filing →

Ask your AI about AXT's net debt.

Connect your AI assistant and compare it to peers, right in your chat.

Connect your AI

Claude

Questions, answered.

What is AXT's net debt?: AXT (AXTI) reported net debt of $23.93M in Q1 2026.
How has AXT's net debt changed year-over-year?: AXT's net debt increased by 11.0% year-over-year, from $21.57M to $23.93M.
What is the long-term trend for AXT's net debt?: Over 5 years (2020 to 2025), AXT's net debt has grown at a -3.1% compound annual growth rate (CAGR), from -$69.78M to -$59.65M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.