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German chipmaker selling power semiconductors, automotive chips and microcontrollers used in EVs, industrial equipment and electronics.
German chipmaker selling power semiconductors, automotive chips and microcontrollers used in EVs, industrial equipment and electronics.
Sells chips into cars and factory equipment, where a part is designed into a product years before it ships and then supplied for the product's life. Automotive is the largest segment, and it makes much of its output in its own fabs. It was Siemens' chip arm until its 1999 spin-off and bought Cypress in 2020.
In one line: Germany's Texas Instruments/ON Semiconductor for power & auto chips.
Moat: narrow (process know-how, customer qualification, scale). Leading power semiconductor and automotive chip market share with deep automotive design-win relationships.
Headquarters: Neubiberg, Germany · Founded: 1999 · Employees: 57,077
Size Infineon Technologies (IFX.DE) is a Germany Information Technology company (Semiconductors) with a market value of $66.8B, the 9th largest of 205 Germany companies the cockpit tracks. Shares closed at €45.76 on 6 Nov 2026.
Performance Over six months the shares fell 32.8%, against -16.2% for the median peer and +2.6% for the Germany market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue grew 6.5% over the last twelve months (peer median +23.7%); the operating margin is 13.1% (peer median 20.6%).
Valuation It trades at 26.0× forward earnings against a peer median of 21.0× (9th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about 30% a year for seven years (Req g). Recent delivered growth is +11%, so the hurdle is +19 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 5.9 points below its cost of capital (12.0% WACC).
Credit Infineon Technologies has 8 bonds outstanding ($5.85B), rated BBB+ by the agencies and trading like A- at a weighted spread of 96 bp.
Next results Next results expected around 10 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €15.6B | €14.7B | €15.0B | €16.3B | €14.2B |
| Revenue growth | — | -2% | -8% | +15% | — |
| Gross profit | €6.15B | €5.90B | €6.18B | €7.61B | €6.36B |
| EBITDA | €3.93B | €3.95B | €4.41B | €5.82B | €4.73B |
| Net income | €1.21B | €1.01B | €1.30B | €3.14B | €2.18B |
| Free cash flow | €1.65B | €1.42B | €348M | €1.22B | €1.93B |
| Capital expenditure | €2.09B | €2.09B | €2.72B | €2.99B | €2.31B |
| Total debt | €7.84B | €7.82B | €6.37B | €6.32B | €7.25B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Infineon Technologies IFX.DE | $66.8B | -33% | +6% | 13% | 26.0× | 30.2% |
| STMicroelectronics STMPA.PA | $37.7B | -32% | +10% | 7% | 31.4× | 34.0% |
| NXP Semiconductors NXPI | $62.6B | -15% | +15% | 30% | 14.1× | 16.3% |
| Texas Instruments TXN | $253B | -4% | +20% | 41% | 24.6× | 23.3% |
| ON Semiconductor ON | $24.6B | -39% | +3% | 19% | 14.3× | 20.0% |
| Renesas Electronics 6723.T | $27.9B | -23% | +26% | 24% | 9.9× | 12.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | IFX.DE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -22.3% | -27.1% | 9th highest of 21 |
| 6-month return | -32.8% | -16.2% | 6th lowest of 21 |
| Distance from 52-week high | -48.5% | -50.7% | 9th highest of 21 |
| Revenue growth (TTM) | +6.5% | +23.7% | 2nd lowest of 21 |
| Operating margin | 13.1% | 20.6% | 6th lowest of 20 |
| Forward P/E | 26.0× | 21.0× | 9th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | 30.2% | 23.2% | 7th most demanding of 14 |
| Growth delivered (Del g) | +11.3% | +7.9% | 7th highest of 14 |
| Hurdle (Req g minus delivered) | +18.9 pp | +9.0 pp | 6th most demanding of 14 |
| ROIC minus cost of capital | -5.9 pp | +0.3 pp | 6th lowest of 20 |
| EV / EBITDA | 16.7× | 16.3× | 8th cheapest of 15 |
| Net debt / EBITDA | 1.6× | 0.4× | 3rd most indebted of 15 |
| Bond spread | 96 bp | 92 bp | 3rd widest of 6 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Infineon Technologies IFX.DE | Germany | $66.8B | -33% | +6% | 13% | 26.0× | 30.2% | +11.3% |
| Ase Technology 3711.TW | Taiwan | $70.4B | +2% | +25% | 11% | 17.3× | n/a | n/a |
| NXP Semiconductors NXPI | United States | $62.6B | -15% | +15% | 30% | 14.1× | 16.3% | +7.3% |
| TE Connectivity TEL | United States | $59.5B | +1% | +15% | 22% | 15.1× | 8.2% | +5.9% |
| Cambricon Technologies 688256.SS | China | $75.7B | -30% | +104% | 33% | 87.3× | n/a | n/a |
| SMIC 0981.HK | Hong Kong | $76.7B | -41% | +20% | 9% | 32.9× | n/a | n/a |
| Monolithic Power Systems MPWR | United States | $58.1B | -26% | +40% | 30% | 28.3× | 39.6% | +27.0% |
| Zhongji Innolight 300308.SZ | China | $79.4B | -48% | +162% | 41% | 15.4× | 23.2% | +40.3% |
| Kioxia 285A.T | Japan | $88.9B | +139% | +265% | 70% | 2.5× | -3.0% | +18.8% |
| SamsungElecMech 009150.KS | South Korea | $47.2B | +5% | +22% | 12% | 38.7× | 42.8% | +7.9% |
| Coherent COHR | United States | $38.0B | -42% | +23% | 14% | 16.6× | n/a | n/a |
| STMicroelectronics STMPA.PA | France | $37.7B | -32% | +10% | 7% | 31.4× | 34.0% | +3.1% |
| Marvell Technology MRVL | United States | $124B | -17% | +31% | 17% | 25.0× | 54.4% | +22.5% |
| Nanya Technology 2408.TW | Taiwan | $35.8B | +34% | +586% | 71% | 2.9× | 0.6% | +1.8% |
| United Micro Electronics 2303.TW | Taiwan | $34.9B | +11% | +13% | 21% | 13.7× | 14.2% | +6.1% |
| Astera Labs ALAB | United States | $33.1B | -5% | +115% | 26% | 28.0× | n/a | n/a |
| Microchip Technology MCHP | United States | $31.7B | -41% | +21% | 16% | 14.5× | 34.2% | -2.8% |
| MetaX Integrated Circuits (Shanghai) 688802.SS | China | $29.5B | -35% | +84% | n/a | 469.5× | n/a | n/a |
| Renesas Electronics 6723.T | Japan | $27.9B | -23% | +26% | 24% | 9.9× | 12.2% | +13.0% |
| Mediatek 2454.TW | Taiwan | $164B | +7% | +6% | 15% | 24.7× | 40.7% | +13.1% |
| Hua Hong Grace Semiconductor 688347.SS | China | $25.5B | +23% | +18% | -2% | 234.7× | n/a | n/a |
Infineon Technologies has 8 bonds outstanding with $5.85B face value. The agencies rate it BBB+; its bonds trade like A-. Weighted yield 4.00%, a spread of 96 bp over government bonds.