(WAF) Siltronic - Overview
Stock: Wafer, Polished, Epitaxial, HIREF, FZ
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 0.51% |
| Yield on Cost 5y | 0.16% |
| Yield CAGR 5y | -43.77% |
| Payout Consistency | 79.2% |
| Payout Ratio | 20.6% |
| Risk 5d forecast | |
|---|---|
| Volatility | 56.4% |
| Relative Tail Risk | -7.75% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.58 |
| Alpha | 18.11 |
| Character TTM | |
|---|---|
| Beta | 0.402 |
| Beta Downside | 0.647 |
| Drawdowns 3y | |
|---|---|
| Max DD | 64.32% |
| CAGR/Max DD | -0.14 |
Description: WAF Siltronic January 19, 2026
Siltronic AG (XETRA: WAF) manufactures hyper-pure silicon wafers-including polished, epitaxial, float-zone (FZ) and its premium “Ultimate Silicon” – for a broad range of semiconductor applications such as CMOS-based DRAM, NAND, automotive electronics, and industrial equipment. The company serves customers across Europe, the United States, Taiwan, Mainland China, South Korea and other Asian markets, and operates under the umbrella of its subsidiaries.
Key recent metrics (2023): revenue of €1.48 billion, EBIT margin of ~12 %, and shipment of roughly 12 million 200 mm wafers – a 4 % YoY increase driven by rising demand for automotive power-electronics and memory chips. The firm is expanding its 300 mm capacity by 10 % through a €300 million capex program announced in 2024, aiming to capture the industry’s shift toward larger-diameter wafers for advanced nodes.
Primary economic drivers include the cyclicality of semiconductor demand (especially memory and automotive), the ongoing global wafer-price rally (average +8 % YoY in Q3 2024), and supply-chain constraints that favor established, low-inventory producers like Siltronic. A sector-wide trend is the acceleration of EUV-enabled processes, which raises the bar for wafer purity and yields – a niche where Siltronic’s “Ultimate Silicon” commands a premium.
For a deeper, data-driven assessment of Siltronic’s valuation and risk profile, you may find the analyst toolkit on ValueRay useful.
Piotroski VR‑10 (Strict, 0-10) 2.0
| Net Income: -27.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.04 > 0.02 and ΔFCF/TA 6.30 > 1.0 |
| NWC/Revenue: 38.63% < 20% (prev 26.02%; Δ 12.61% < -1%) |
| CFO/TA 0.05 > 3% & CFO 239.3m > Net Income -27.1m |
| Net Debt (1.28b) to EBITDA (316.2m): 4.04 < 3 |
| Current Ratio: 1.93 > 1.5 & < 3 |
| Outstanding Shares: last quarter (30.0m) vs 12m ago 0.56% < -2% |
| Gross Margin: 13.25% > 18% (prev 0.17%; Δ 1308 % > 0.5%) |
| Asset Turnover: 28.11% > 50% (prev 30.30%; Δ -2.19% > 0%) |
| Interest Coverage Ratio: 0.78 > 6 (EBITDA TTM 316.2m / Interest Expense TTM 49.8m) |
Altman Z'' 1.61
| A: 0.11 (Total Current Assets 1.07b - Total Current Liabilities 553.3m) / Total Assets 4.86b |
| B: 0.16 (Retained Earnings 764.3m / Total Assets 4.86b) |
| C: 0.01 (EBIT TTM 39.0m / Avg Total Assets 4.75b) |
| D: 0.32 (Book Value of Equity 903.4m / Total Liabilities 2.79b) |
| Altman-Z'' Score: 1.61 = BB |
Beneish M -2.89
| DSRI: 0.93 (Receivables 156.3m/178.0m, Revenue 1.34b/1.41b) |
| GMI: 1.26 (GM 13.25% / 16.67%) |
| AQI: 1.09 (AQ_t 0.02 / AQ_t-1 0.02) |
| SGI: 0.95 (Revenue 1.34b / 1.41b) |
| TATA: -0.05 (NI -27.1m - CFO 239.3m) / TA 4.86b) |
| Beneish M-Score: -2.89 (Cap -4..+1) = A |
What is the price of WAF shares?
Over the past week, the price has changed by -0.86%, over one month by -2.89%, over three months by +13.72% and over the past year by +29.42%.
Is WAF a buy, sell or hold?
What are the forecasts/targets for the WAF price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 54.2 | 3.8% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 54.8 | 5% |
WAF Fundamental Data Overview February 03, 2026
P/E Forward = 16.5289
P/S = 1.1399
P/B = 0.8275
Revenue TTM = 1.34b EUR
EBIT TTM = 39.0m EUR
EBITDA TTM = 316.2m EUR
Long Term Debt = 1.31b EUR (from longTermDebt, last quarter)
Short Term Debt = 125.8m EUR (from shortTermDebt, last quarter)
Debt = 1.56b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 1.28b EUR (from netDebt column, last quarter)
Enterprise Value = 2.80b EUR (1.52b + Debt 1.56b - CCE 282.1m)
Interest Coverage Ratio = 0.78 (Ebit TTM 39.0m / Interest Expense TTM 49.8m)
EV/FCF = -13.82x (Enterprise Value 2.80b / FCF TTM -202.7m)
FCF Yield = -7.24% (FCF TTM -202.7m / Enterprise Value 2.80b)
FCF Margin = -15.17% (FCF TTM -202.7m / Revenue TTM 1.34b)
Net Margin = -2.03% (Net Income TTM -27.1m / Revenue TTM 1.34b)
Gross Margin = 13.25% ((Revenue TTM 1.34b - Cost of Revenue TTM 1.16b) / Revenue TTM)
Gross Margin QoQ = -1.20% (prev 18.29%)
Tobins Q-Ratio = 0.58 (Enterprise Value 2.80b / Total Assets 4.86b)
Interest Expense / Debt = 0.81% (Interest Expense 12.7m / Debt 1.56b)
Taxrate = 33.00% (33.1m / 100.3m)
NOPAT = 26.1m (EBIT 39.0m * (1 - 33.00%))
Current Ratio = 1.93 (Total Current Assets 1.07b / Total Current Liabilities 553.3m)
Debt / Equity = 0.83 (Debt 1.56b / totalStockholderEquity, last quarter 1.88b)
Debt / EBITDA = 4.04 (Net Debt 1.28b / EBITDA 316.2m)
Debt / FCF = -6.31 (negative FCF - burning cash) (Net Debt 1.28b / FCF TTM -202.7m)
Total Stockholder Equity = 1.95b (last 4 quarters mean from totalStockholderEquity)
RoA = -0.57% (Net Income -27.1m / Total Assets 4.86b)
RoE = -1.39% (Net Income TTM -27.1m / Total Stockholder Equity 1.95b)
RoCE = 1.20% (EBIT 39.0m / Capital Employed (Equity 1.95b + L.T.Debt 1.31b))
RoIC = 0.78% (NOPAT 26.1m / Invested Capital 3.37b)
WACC = 3.93% (E(1.52b)/V(3.08b) * Re(7.40%) + D(1.56b)/V(3.08b) * Rd(0.81%) * (1-Tc(0.33)))
Discount Rate = 7.40% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: 0.0 | Cagr: 0.0%
Fair Price DCF = unknown (Cash Flow -202.7m)
EPS Correlation: -92.89 | EPS CAGR: -61.29% | SUE: 0.22 | # QB: 0
Revenue Correlation: -79.76 | Revenue CAGR: -5.86% | SUE: -0.45 | # QB: 0
EPS next Quarter (2026-03-31): EPS=-1.14 | Chg30d=-0.277 | Revisions Net=-1 | Analysts=3
EPS next Year (2026-12-31): EPS=-4.34 | Chg30d=-1.017 | Revisions Net=-5 | Growth EPS=-71.4% | Growth Revenue=+7.2%