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French maker of engineered semiconductor wafers (silicon-on-insulator) used in smartphones, automotive and computing chips.
French maker of engineered semiconductor wafers (silicon-on-insulator) used in smartphones, automotive and computing chips.
Sells engineered wafers that chipmakers use as the starting base, with RF-SOI for smartphone radio chips the largest line, and has licensed its Smart Cut process, born at France's CEA research lab, to other wafer makers for royalties. Sales rise and fall with smartphone production and customer inventories. CEA Investissement is among its shareholders.
Moat: narrow (IP / patents, process know-how). Proprietary Smart Cut wafer-bonding technology is difficult for competitors to replicate.
Headquarters: Bernin, France · Founded: 1992 · Employees: 2,128
Size Soitec (SOI.PA) is a France Information Technology company (Semiconductors) with a market value of $3.79B, the 76th largest of 206 France companies the cockpit tracks. Shares closed at €94.34 on 6 Nov 2026.
Performance Over six months the shares fell 37.9%, against -29.5% for the median peer and -0.4% for the France market (cap-weighted) — 7th lowest of 19 in its peer set.
Growth Revenue fell 33.5% over the last twelve months (peer median +25.2%); the operating margin is -5.6% (peer median 3.0%).
Valuation It trades at 141.8× forward earnings against a peer median of 57.1× (4th most expensive of 15).
Price implies For today's price to make sense, revenue must grow about 25% a year for seven years (Req g). Recent delivered growth is 0%, so the hurdle is +25 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 12.0 points below its cost of capital (10.3% WACC).
Next results Next results expected around 18 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €592M | €592M | €891M | €978M | €1.09B |
| Revenue growth | — | -34% | -9% | -10% | — |
| Gross profit | €76.3M | €76.3M | €257M | €304M | €376M |
| EBITDA | €105M | €105M | €253M | €314M | €356M |
| Net income | -€220M | -€220M | €91.8M | €178M | €233M |
| Free cash flow | €83.2M | €83.2M | €34.8M | -€6.00M | €74.0M |
| Capital expenditure | €128M | €128M | €199M | €225M | €227M |
| Total debt | n/a | €620M | €782M | €747M | €648M |
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 |
|---|---|---|---|---|---|---|
| Soitec SOI.PA | $3.79B | -38% | -34% | -6% | 141.8× | 25.0% |
| GlobalWafers 6488.TWO | $8.15B | -23% | -6% | 11% | 21.4× | n/a |
| Shin-etsu Chemical 4063.T | $66.5B | -27% | +5% | 25% | 17.2× | 8.9% |
| Sumco 3436.T | $3.96B | -28% | +4% | -4% | n/a | n/a |
| STM STM | $41.0B | -29% | +16% | 7% | 17.3× | 38.6% |
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 | SOI.PA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -38.1% | -19.6% | 5th lowest of 21 |
| 6-month return | -37.9% | -29.5% | 7th lowest of 19 |
| Distance from 52-week high | -53.0% | -54.5% | 8th highest of 21 |
| Revenue growth (TTM) | -33.5% | +25.2% | lowest of 21 |
| Operating margin | -5.6% | 3.0% | 5th lowest of 20 |
| Forward P/E | 141.8× | 57.1× | 4th most expensive of 15 |
| Growth the price implies (Req g, 7 yrs) | 25.0% | 32.2% | 3rd least demanding of 6 |
| Growth delivered (Del g) | +0.3% | +16.7% | lowest of 6 |
| Hurdle (Req g minus delivered) | +24.7 pp | +15.5 pp | 3rd most demanding of 6 |
| ROIC minus cost of capital | -12.0 pp | -8.0 pp | 5th lowest of 19 |
| EV / EBITDA | 32.8× | 34.4× | 3rd cheapest of 6 |
| Net debt / EBITDA | 0.5× | -1.4× | 2nd most indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Soitec SOI.PA | France | $3.79B | -38% | -34% | -6% | 141.8× | 25.0% | +0.3% |
| Loongson Technology 688047.SS | China | $3.86B | -44% | +24% | -76% | n/a | n/a | n/a |
| Trina Solar 688599.SS | China | $3.90B | -36% | -3% | -9% | n/a | -4.3% | +17.9% |
| Nordic Semiconductor NOD.OL | Norway | $3.62B | -12% | +15% | 8% | 54.6× | n/a | n/a |
| Linktel Technologies 301205.SZ | China | $3.60B | -39% | +54% | 3% | 281.1× | n/a | n/a |
| Suzhou Novosense Microelectronics 688052.SS | China | $3.60B | -15% | +77% | -2% | 209.7× | n/a | n/a |
| Allwinner Technology 300458.SZ | China | $4.02B | -25% | +26% | 15% | 57.3× | n/a | n/a |
| Suzhou Novosense Microlectronics 2676.HK | Hong Kong | $3.57B | -28% | +86% | -2% | 121.4× | n/a | n/a |
| Diodes DIOD | United States | $3.56B | -31% | +18% | 5% | 14.6× | 34.0% | +3.8% |
| Chengdu Ultra Pure Applied Materials 301717.SZ | China | $4.03B | n/a | +93% | 42% | n/a | n/a | n/a |
| Hangzhou Lion Electronics 605358.SS | China | $3.55B | -25% | +24% | -1% | 81.0× | n/a | n/a |
| Jiangsu Leadmicro Nano Technology 688147.SS | China | $4.06B | -26% | -5% | 3% | 82.1× | n/a | n/a |
| JA Solar Technology 002459.SZ | China | $3.50B | -35% | -23% | n/a | n/a | -20.3% | +13.7% |
| Suzhou Everbright Photonics 688048.SS | China | $3.48B | -63% | +88% | -1% | 626.2× | n/a | n/a |
| eMemory Technology 3529.TWO | Taiwan | $4.17B | -58% | +17% | 61% | 45.0× | 32.2% | +16.7% |
| Jiangsu X-chip Semiconductor Tech 301707.SZ | China | $3.40B | n/a | +55% | 41% | n/a | n/a | n/a |
| Shanghai Aiko Solar Energy 600732.SS | China | $4.23B | -13% | +25% | -8% | n/a | n/a | n/a |
| Hunan Goke Microelectronics 300672.SZ | China | $4.24B | -27% | +54% | 5% | 56.9× | 46.0% | +19.7% |
| Applied Optoelectronics AAOI | United States | $4.26B | -66% | +62% | -11% | 23.5× | n/a | n/a |
| Premier Energies PREMIERENE.NS | India | $4.28B | -13% | +32% | 25% | 19.7× | n/a | n/a |
| Hanwha Solutions 009830.KS | South Korea | $4.30B | -49% | +14% | 0% | 20.1× | n/a | n/a |