1. X-Fab Silicon Foundries is a well-established company in a growing industry with a long history of profitable activity. 2. It has an excellent valuation, even without considering future growth prospects. 3. Revenues are expected to increase in the coming years, supported by the CAPEX program of 2023-2025H1. 4. EV / 2026 FCF is below 5 and for 2030, is 2.4. 5. Positive free cash flow may trigger buybacks.