Built from weaker models, sales multiples or analyst targets, so treat it as a rough guide.
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Valued as a cyclical company: P/E comparison, EV/EBITDA comparison, and Discounted cash flow.
ACCE opinionSoitec SA (SOI.PA)
Fair value
Not available
ACCE price target
€96.00
Rating
Not rated
Horizon
12 months
ACCE price target published on 22 Oct 2026, 16:00 CEST.
Price used: €112 at the close on 23 Oct 2026, 17:30 CEST.
Models: Discounted cash flow, EV/EBITDA comparison, and P/E comparison.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
ACCE score
35
out of 100
1-year return
+160.0%
Dividend yield
0.00%
Soitec SA in four questions
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Overview
ACCE thesis
Soitec makes engineered silicon wafers, most notably SOI (silicon-on-insulator) substrates used in RF chips for smartphones and in fully depleted SOI for low-power logic, along with its Photonic SOI platform for optical interconnects. Its moat is process know-how and a patent-protected Smart Cut technique that few rivals can replicate at volume, but that franchise is currently under strain: revenue fell 34.6%, gross margin sits at 16.3%, and operating margin is -10.8%, so the company is losing money on a shrinking top line. The near-term catalysts are a recovery in smartphone RF demand and the ramp of AI-related photonics and data-centre substrates, which would need to show up in volumes before the margin picture changes. What makes it worth a look now is the gap between a forward P/E of 31.8 and negative trailing earnings, which implies the market is pricing in a sharp earnings rebound; the open question is whether gross margin can climb back toward levels that justify that. Verify the rebound timing and the depth of the current inventory correction before going further.
⚠ Investor warnings · 3 flagsAI-assisted·How I use AI
high
Revenue falling sharply
Revenue is down 34.6% year over year, and the five-year revenue CAGR is only +0.3%. Growth has stalled and is now reversing.
high
Losses at every line
Operating margin is -10.8% and net margin is -37.1%, with ROE at -15.2%. Earnings fell 19.6% year over year and the company is loss-making.
moderate
Valuation rests on forecasts
Trailing P/E is 0.0 and forward P/E is 10000.0, while EV/EBITDA is 226.6 and the stock trades near €111.65. Earnings-based valuation gives little support until profits return.
AI research notes
AI-assisted·How I use AIWritten Oct 22, 2026 · figures from 2026-03-31 · prices to Oct 23, 2026
Why it could do well
Analysts' mean price target of EUR 164.79 sits 33.3% above the share price, suggesting the market is pricing in a lot of pessimism.
Soitec generated EUR 84M of free cash flow over the last twelve months, showing the business still produces cash despite falling sales.
The diluted share count fell 0.5% last fiscal year, so existing shareholders own a slightly larger slice of the company.
Why it could disappoint
Revenue fell 34.6% year over year, a steep drop that goes well beyond a normal cyclical dip.
Net margin of -37.1% and return on equity of -15.2% show the company is losing money on its sales and its capital.
Latest earnings missed badly, with EPS of -1.13 against 0.57 expected, a surprise of -298.2%.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.
Next results
Nov 18, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle
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Valuation
INVESTOR
Where SOI.PA's valuation models land
Price
€111.65
Model fair valueConfidence: low
about €36.95
Model
Fair value
Upside
Discounted cash flow
EV/EBITDA comparison
P/E comparison
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Quality
INVESTOR
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Analysts
Wall Street consensus
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Analyst intelligence INVESTOR FEATURE
The full analyst picture: the price-target distribution against the current price, forward consensus estimates, and how ACCE's own models compare.
+Price-target low / average / high vs the current price, with implied upside
+Forward revenue and EPS consensus by fiscal year
+ACCE fair-value models lined up against the Street
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