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Siltronic
(XETRA:WAF)
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Rating:44Neutral
Price Target:
€57.00
▼(-28.17% Downside)
Action:Reiterated
Date:10/16/26
The score is driven primarily by weak financial performance (sharp profitability deterioration and negative free cash flow) and bearish technical conditions (price below major moving averages with negative MACD). Valuation provides limited offset because earnings are negative and the dividend yield is small.
Positive Factors
Essential semiconductor materials role
Siltronic operates in a strategically important materials segment because its ultra-pure wafers are essential substrates for integrated-circuit production. Serving logic, memory and other microelectronic applications gives the business broad exposure to ongoing semiconductor manufacturing demand over the medium term.
Negative Factors
Severe profitability deterioration
Siltronic’s earnings profile has weakened materially, with several years of revenue contraction followed by negative operating profit and net margin in 2025 and TTM. Persistent losses reduce internal funding capacity and make a timely recovery in demand and margins increasingly important.
Read all positive and negative factors
Positive Factors
Negative Factors
Essential semiconductor materials role
Siltronic operates in a strategically important materials segment because its ultra-pure wafers are essential substrates for integrated-circuit production. Serving logic, memory and other microelectronic applications gives the business broad exposure to ongoing semiconductor manufacturing demand over the medium term.
Read all positive factors
Siltronic (WAF) vs. iShares MSCI Germany ETF (EWG)
Market Cap
€2.08B
Dividend Yield0.32%
Average Volume (3M)136.62K
Price to Earnings (P/E)―
Beta (1Y)1.81
Revenue Growth-6.66%
EPS Growth-753.06%
CountryDE
Employees4,210
SectorGeneral
Sector StrengthN/A
IndustrySemiconductors
Share Statistics
EPS (TTM)-6.40
Shares Outstanding33,000,000
10 Day Avg. Volume155,779
30 Day Avg. Volume136,615
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
€101.29Price Target Upside27.64% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)-6.68
Revenue Forecast (FY)€1.32B
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 selling silicon wafers to semiconductor manufacturers. Its core revenue stream is the volume-based sale of standard and specialty wafers—especially 300 mm wafers, which are widely used in advanced semiconductor f...
Siltronic Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
52
Neutral
Cash Flow
35
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.30B | 1.35B | 1.41B | 1.51B | 1.81B | 1.41B |
| Gross Profit | -44.40M | 111.20M | 275.40M | 372.20M | 615.30M | 441.20M |
| EBITDA | 262.50M | 306.40M | 360.20M | 457.00M | 685.00M | 472.60M |
| Net Income | -192.80M | -69.20M | 63.00M | 184.40M | 390.60M | 253.30M |
Balance Sheet | ||||||
| Total Assets | 4.86B | 4.80B | 5.08B | 4.50B | 4.05B | 2.46B |
| Cash, Cash Equivalents and Short-Term Investments | 647.40M | 531.30M | 663.70M | 456.90M | 1.04B | 555.40M |
| Total Debt | 1.47B | 1.49B | 1.52B | 904.60M | 770.50M | 105.80M |
| Total Liabilities | 2.65B | 2.77B | 2.87B | 2.41B | 1.98B | 1.14B |
| Stockholders Equity | 2.04B | 1.84B | 2.01B | 1.90B | 1.89B | 1.19B |
Cash Flow | ||||||
| Free Cash Flow | -98.90M | -150.00M | -355.40M | -710.90M | -118.20M | 108.40M |
| Operating Cash Flow | 186.90M | 230.10M | 344.50M | 487.90M | 804.50M | 501.10M |
| Investing Cash Flow | -289.20M | -177.70M | -959.80M | -628.90M | -1.33B | -322.20M |
| Financing Cash Flow | 168.90M | -16.20M | 525.60M | 42.80M | 577.10M | -64.50M |
Siltronic Technical Analysis
Negative
79.35
Price Trends
74.47
Negative
79.84
Negative
73.45
Negative
Market Momentum
-4.99
Positive
35.89
Neutral
30.51
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DE:WAF, the sentiment is Negative. The current price of 79.35 is above the 20-day moving average (MA) of 70.67, above the 50-day MA of 74.47, and above the 200-day MA of 73.45, indicating a bearish trend. The MACD of -4.99 indicates Positive momentum. The RSI at 35.89 is Neutral, neither overbought nor oversold. The STOCH value of 30.51 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
73 Outperform | €193.64M | 16.64 | 8.97% | 2.31% | -36.28% | -66.51% | |
68 Neutral | €1.05B | 37.93 | 8.73% | 0.07% | -15.45% | -51.36% | |
59 Neutral | €1.60B | 23.55 | 12.29% | 4.52% | 0.35% | 116.73% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | €3.84B | 65.65 | 6.36% | 0.44% | -24.00% | -46.54% | |
48 Neutral | €700.35M | -477.74 | -0.99% | 5.26% | -3.63% | -106.89% | |
44 Neutral | €2.08B | -9.84 | -10.18% | 0.32% | -6.66% | -753.06% |
* General Sector Average
DE:WAF
Siltronic
63.00
6.80
12.10%
DE:AIXA
AIXTRON
34.14
20.77
155.42%
DE:PFV
Pfeiffer Vacuum Technology
162.00
12.88
8.64%
DE:TPE
PVA TePla
32.20
5.28
19.61%
DE:SMHN
Suss Microtec
55.00
27.01
96.51%
DE:CTNK
centrotherm international AG
9.15
4.10
81.19%
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.