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Soitec S.A.

SOI.PA
21
Semiconductors · Technology
Exchange
Euronext Paris
Winston Score
21
Winston is worried
Weak fundamentals across most pillars.
Data as of Aug 23, 2026 · filings through Mar 31, 2026
How the score breaks down
Quality
Weak
Growth
Weak
Cash Flow
Mixed
Stability
Mixed
Valuation
Data not available

Winston Score History

The full picture

Soitec is a French company that makes special wafers used to build computer chips. These wafers, called SOI (Silicon-On-Insulator) wafers, help chips run faster while using less battery power. Soitec's main customers are large chipmakers like Samsung, TSMC, and GlobalFoundries, who use these wafers to produce chips found in smartphones, cars, and 5G equipment.

Soitec earns money by selling these engineered wafers directly to chip manufacturers. The company is headquartered near Grenoble, France, and operates globally, with manufacturing sites in France, Singapore, and the United States. Its main competitive advantage is its patented Smart Cut technology, which is difficult and expensive for competitors to replicate. However, the company currently has negative operating margins, reflecting weak demand from the smartphone market and high fixed manufacturing costs — a key risk if chip industry demand does not recover as expected.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-34.7% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-300.9% YoY

YoY Growth Rate

Earnings declining

Insider Activity

24.1%ownership

Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

€577M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

Soitec S.A.'s revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
10.5%
Thin — 10.5% gross margin
Profit after running costs
Operating Margin
-5.2%
Losing money on operations — -5.2%
Return on the money invested
ROCE
-1.3%
Weak — -1.3% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth
Sales YoY
-33.6%
Shrinking sales (-33.6% YoY)
Profit growth
EPS YoY
-344.8%
Earnings shrinking (-344.8% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is
EPS Consistency
2/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
N/A
Data not available
Spare cash per sale
FCF Margin
14.2%
Converts sales into free cash efficiently (14.2%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns
Debt / Equity
0.32
Conservative — low debt load (0.32)
Covers its interest
Interest Cover
N/A
Data not available

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
no trend
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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