Infineon Technologies AG
5-year stock timeline
Infineon (IFX.XETRA) — latest price €73.42. Below is a factual 2020–2026 timeline covering material company and stock events, how the investor narrative evolved, and the main technical phases that shaped the share price.
Major events
The Cypress Semiconductor takeover closed in April 2020, broadening Infineon's exposure to MCUs, connectivity and specialty memory, with management targeting earnings accretion from fiscal 2021 onward. During the global chip shortage, rapid demand for automotive, industrial and renewable-power semiconductors drove record FY2022 revenue and strong margins, while the company expanded capacity including the Villach 300mm power-electronics fab program.
From 2022 through 2024, leadership shifted when Jochen Hanebeck replaced Reinhard Ploss as CEO in April 2022. The company committed to large SiC capacity investments, opening the first phase of its Kulim, Malaysia SiC fab in 2024, while managing cyclical end-market weakness and adjusting FY2024 guidance.
Investor narrative
Post-Cypress, investors reframed Infineon as a scale and diversification story, later viewing it as a growth compounder driven by automotive electrification and power-electronics demand through FY2022. From 2023 into early 2024, the market treated it as cyclical — strong in automotive but exposed to computing and consumer weakness — prompting a "cyclical but strategic" view as guidance and FX effects were recalibrated.
By 2024–2026, the narrative shifted toward strategic leadership in power semiconductors, particularly SiC, and as an indirect beneficiary of AI-infrastructure power requirements. Management raised outlooks tied to AI and improved order trends, supporting a more constructive thesis into 2026.
Technical phases
2020–2021 saw a clear multi-quarter uptrend following the Cypress close and recovery from pandemic lows as automotive and industrial demand accelerated and capacity investments were announced. From 2022 into mid-2023, the stock peaked around FY2022 momentum, then experienced material correction and volatility as end-market cyclicality, softer computing and consumer demand, and FX considerations moderated growth expectations.
The second half of 2023 through 2026 brought recovery and renewed breakout phases, driven by capacity announcements (SiC fab openings and investments) and improving outlooks tied to AI and data-center power demand, underpinning the stock's comeback to its current level.
Key risks and downside factors
Infineon competes directly with NXP, STMicroelectronics, and Texas Instruments across analog, power, and automotive semiconductors. Its strength lies in automotive power semiconductors and microcontrollers, but this foundation faces real pressure from technology transitions—SiC and GaN in particular—as well as from specialist competitors and Chinese suppliers backed by state subsidies and local-content mandates. The company carries meaningful exposure to automotive concentration, geopolitical and supply-chain volatility, the relentless capital and R&D demands of keeping pace with power-semiconductor evolution, and the grinding reality of pricing and customer leverage in a competitive market.
- Intense competition from larger, more diversified peers—NXP, ST, TI—creates real pressure on both pricing and market share.
- Geopolitical and regulatory risk from Chinese suppliers, alongside local-content subsidies, could erode market access or trigger subsidized competition.
- Transitioning to next-generation power semiconductors like SiC and GaN demands substantial capital investment and R&D spending. Companies competing in this space face real execution risk if they can't sustain the spending required to keep pace.
- Automotive concentration creates exposure to OEM demand cycles and the risk of customer consolidation.
Competitive landscape
Infineon's main competition comes from established analog and microcontroller specialists—NXP, STMicroelectronics, ON Semiconductor, and Texas Instruments—across automotive, industrial power, and security semiconductors. The competitive landscape is tightening on multiple fronts: Chinese domestic suppliers are gaining ground, OEMs are building their own capabilities, and the industry's shift toward silicon carbide and gallium nitride creates both product and roadmap uncertainty. Add to that the friction from supply-chain constraints, foundry capacity limits, and the shifting geopolitical environment around chip exports, and you're looking at a company navigating some real headwinds on the growth side.
| Company | Ticker |
|---|---|
| NXP Semiconductors | NXPI.NASDAQ |
| STMicroelectronics | STM.NYSE |
| Texas Instruments | TXN.NASDAQ |
Private competitors
- Horizon Robotics [web:3]
- Black Sesame [web:3]
- Paragraf [web:6]
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Start Free TrialPerformance Figures of Infineon Technologies AG
Relative Performance vs Benchmarks
| Period | Infineon Technologies AG | vs DAX | vs S&P 500 (SPY) |
|---|---|---|---|
| 1M | +45.32% | +41.06% | +39.87% |
| 3M | +67.44% | +68.40% | +57.74% |
| 6M | +112.83% | +107.77% | +102.39% |
| 1Y | +124.51% | +120.33% | +95.36% |
| 3Y | +127.72% | +70.74% | +42.05% |
| 5Y | +141.57% | +80.21% | +50.27% |
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Start Free TrialHistorical valuation trends
How the company’s key valuation ratios (P/E, P/S, P/B and P/CF) have evolved over time compared to today.
| Period | P/E Ratio | P/S Ratio | P/B Ratio | P/CF Ratio |
|---|---|---|---|---|
| Current | 92.2 | 6.7 | 6.0 | 34.9 |
| 1Y ago | 56.7 | 3.1 | 2.6 | 13.5 |
| 3Y ago | 16.1 | 2.8 | 3.0 | 11.7 |
| 5Y ago | 96.1 | 4.2 | 4.0 | 16.2 |
Frequently Asked Questions
Where is the Infineon Technologies AG stock traded?
What does Infineon Technologies AG do?
What are the key metrics for IFX.XETRA?
How has Infineon Technologies AG's stock price performed?
How is IFX.XETRA valued?
Does IFX.XETRA pay dividends?
What are the key risks when investing in IFX.XETRA?
- Intense competition from larger, more diversified peers—NXP, ST, TI—creates real pressure on both pricing and market share.
- Geopolitical and regulatory risk from Chinese suppliers, alongside local-content subsidies, could erode market access or trigger subsidized competition.
- Transitioning to next-generation power semiconductors like SiC and GaN demands substantial capital investment and R&D spending. Companies competing in this space face real execution risk if they can't sustain the spending required to keep pace.
- Automotive concentration creates exposure to OEM demand cycles and the risk of customer consolidation.
Who are the main competitors of Infineon Technologies AG?
- NXP Semiconductors (NXPI.NASDAQ)
- STMicroelectronics (STM.NYSE)
- Texas Instruments (TXN.NASDAQ)
When does Infineon Technologies AG report earnings?
Key Metrics
Valuation Metrics
Profitability Metrics
Growth Metrics
Dividend history
Long-term record of paid dividends (amount per share and dividend yield at the time of payment).
| Year | Dividend | Yield at payment | Avg. yield |
|---|---|---|---|
| 2026 | 0.35 EUR | 0.76% | 1.24% |
| 2025 | 0.35 EUR | 0.91% | |
| 2024 | 0.35 EUR | 1.06% | |
| 2023 | 0.32 EUR | 0.89% | |
| 2022 | 0.27 EUR | 0.84% | |
| 2021 | 0.22 EUR | 0.62% | |
| 2020 | 0.27 EUR | 1.24% | |
| 2019 | 0.27 EUR | 1.37% | |
| 2018 | 0.25 EUR | 1.12% | |
| 2017 | 0.22 EUR | 1.27% | |
| 2016 | 0.20 EUR | 1.74% | |
| 2015 | 0.18 EUR | 1.76% | |
| 2014 | 0.12 EUR | 1.55% | |
| 2013 | 0.12 EUR | 1.83% | |
| 2012 | 0.12 EUR | 1.59% |
Earnings history & estimates
Historical earnings performance shows how consistently the company meets or exceeds analyst expectations. Forward estimates provide insight into expected profitability and growth trajectory.
Historical earnings performance
Upcoming earnings report
Analyst estimates for upcoming periods
Key financial figures
Selected income statement, balance sheet and cash flow figures. Annual and quarterly, based on reported IFRS/GAAP financials.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Revenue | 14.66B | 14.96B | 16.31B | 14.22B | 11.06B |
| Operating income (EBIT) | 2.04B | 2.54B | 4.07B | 3.07B | 1.30B |
| Net income | 1.01B | 1.30B | 3.14B | 2.18B | 1.17B |
| Free cash flow | 1.42B | 61.00M | 966.00M | 1.67B | 1.57B |
| Total assets | 30.47B | 28.64B | 28.44B | 26.91B | 23.33B |
| Equity | 17.05B | 17.22B | 17.04B | 14.94B | 11.40B |
| Net debt | 5.86B | 3.36B | 3.29B | 4.61B | 5.17B |
PWP Leeway UG (haftungsbeschränkt)
