Axcelis Technologies Inc. (ACLS) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.89	$1.06	+19.1%	—	$215.2M	—
Q1 26	$0.71	$0.72	+1.4%	—	$199M	—
Q4 25	$1.03	$1.07	+3.9%	—	$238.3M	—
Q3 25	$1	$1.21	+21.0%	—	$213.6M	—
Q2 25	$0.71	$1.13	+59.2%	—	$194.5M	—
Q1 25	$0.38	$1.04	+173.7%	—	$192.6M	—
Q4 24	$1.25	$1.54	+23.2%	—	$252.4M	—
Q3 24	$1.43	$1.49	+4.2%	—	$256.6M	—
Q2 24	$1.35	$1.55	+14.8%	—	$256.5M	—
Q1 24	$1.24	$1.57	+26.6%	—	$252.4M	—
Q4 23	$2.08	$2.15	+3.4%	—	$310.3M	—
Q3 23	$1.73	$1.99	+15.0%	—	$292.3M	—
Q2 23	$1.46	$1.86	+27.4%	—	$274M	—
Q1 23	$1.26	$1.43	+13.5%	—	$254M	—
Q4 22	$1.38	$1.71	+23.9%	—	$266.1M	—
Q3 22	$1.13	$1.21	+7.1%	—	$229.2M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$3.81	—	—	$839M	—
FY24	—	$6.17	—	—	$1B	—
FY23	—	$7.52	—	—	$1.1B	—
FY22	—	$5.54	—	—	$920M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$267M	$410.6M	$442.6M	$343M	$474.6M	$662.4M	$920M	$1.1B	$1B	$839M
YoY change	-11.4%	+53.8%	+7.8%	-22.5%	+38.4%	+39.6%	+38.9%	+22.9%	-9.97%	-17.6%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	267M	410.6M	442.6M	343M	474.6M	662.4M	920M	1.1B	1B	839M
Cost of revenue	167.4M	260.3M	262.9M	198.8M	276M	376M	518.2M	639.3M	563.2M	462.2M
Gross profit	99.6M	150.2M	179.6M	144.2M	198.6M	286.4M	401.8M	491.3M	454.7M	376.8M
Gross margin	37.3%	36.6%	40.6%	42%	41.8%	43.2%	43.7%	43.5%	44.7%	44.9%
Research & development	34.4M	43.1M	51.9M	53.9M	61.8M	65.4M	78.4M	96.9M	105.5M	109M
Selling, general & administrative	48.3M	59.3M	67.8M	66M	78.7M	93.7M	111.1M	128.6M	138.4M	148.6M
Operating expenses	82.7M	102.4M	119.7M	119.9M	140.5M	159.1M	189.4M	225.5M	243.9M	257.5M
Operating income	16.9M	47.8M	60M	24.2M	58M	127.3M	212.4M	265.8M	210.8M	119.3M
Operating margin	6.33%	11.7%	13.5%	7.06%	12.2%	19.2%	23.1%	23.5%	20.7%	14.2%
Non-operating income, net	-1M	396K	-2.5M	-1.1M	2.3M	-2.3M	-6.5M	-48K	539K	2.8M
Pretax income	11M	43.8M	54.7M	20.9M	55.9M	120.4M	204.9M	278.6M	230.3M	138.2M
Income tax	23K	-83.1M	8.8M	3.9M	5.9M	21.8M	21.8M	32.3M	29.3M	18M
Net income	11M	127M	45.9M	17M	50M	98.7M	183.1M	246.3M	201M	120.2M
Net margin	4.12%	30.9%	10.4%	4.97%	10.5%	14.9%	19.9%	21.8%	19.7%	14.3%
EBITDA	20.6M	54M	65.6M	34M	71M	136.1M	222.1M	297M	251.5M	161.2M
EPS	0.38	4.11	1.42	0.52	1.5	2.94	5.54	7.52	6.17	3.81
Diluted EPS	0.36	3.8	1.35	0.5	1.46	2.88	5.46	7.43	6.15	3.8

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	292.3M	310.3M	252.4M	256.5M	256.6M	252.4M	192.6M	194.5M	213.6M	238.3M	199M	215.2M
Cost of revenue	162.6M	172.4M	136.3M	144.1M	146.6M	136.2M	103.8M	107.2M	124.8M	126.4M	118.4M	124M
Gross profit	129.7M	137.9M	116.1M	112.4M	110M	116.2M	88.8M	87.3M	88.8M	111.9M	80.6M	91.2M
Gross margin	44.4%	44.4%	46%	43.8%	42.9%	46%	46.1%	44.9%	41.6%	47%	40.5%	42.4%
Research & development	24.1M	24.9M	25.7M	25.8M	26.4M	27.7M	27.1M	27.1M	24.6M	30.1M	28.5M	29M
Selling, general & administrative	33.9M	33.9M	33.9M	33.8M	36.7M	34M	32.5M	31.3M	39.1M	45.6M	44.1M	41.9M
Operating expenses	58M	58.8M	59.5M	59.6M	63.1M	61.7M	59.6M	58.4M	63.8M	75.8M	72.6M	70.9M
Operating income	71.7M	79.1M	56.5M	52.8M	46.9M	54.5M	29.2M	29M	25M	36.2M	8M	20.3M
Operating margin	24.5%	25.5%	22.4%	20.6%	18.3%	21.6%	15.1%	14.9%	11.7%	15.2%	4%	9.43%
Non-operating income, net	-1.3M	4.3M	-1.7M	-257K	3.2M	-718K	-309K	1.9M	970K	245K	-495K	1.8M
Pretax income	73.7M	87.4M	59M	57.3M	55.4M	58.6M	33.1M	35M	30.1M	40M	10.6M	25.3M
Income tax	7.7M	16.4M	7.4M	6.4M	6.8M	8.7M	4.5M	3.6M	4.2M	5.7M	1.4M	2.1M
Net income	65.9M	71.1M	51.6M	50.9M	48.6M	50M	28.6M	31.4M	26M	34.3M	9.2M	23.3M
Net margin	22.6%	22.9%	20.4%	19.8%	18.9%	19.8%	14.8%	16.1%	12.2%	14.4%	4.63%	10.8%
EBITDA	78.2M	92.3M	64.1M	62.5M	60.6M	64.4M	38.8M	40.9M	35.8M	45.8M	16.4M	31.1M
EPS	2.01	2.17	1.58	1.56	1.49	1.54	0.89	0.99	0.83	1.11	0.3	0.76
Diluted EPS	1.99	2.15	1.57	1.55	1.49	1.54	0.88	0.98	0.83	1.1	0.3	0.75

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	424.8M	885.9M	574.7M	784.7M	968.4M	2.5B	2.6B	4.2B	2.3B	2.5B	3.8B
Enterprise value	401.6M	800.2M	444.5M	693.3M	813.1M	2.3B	2.2B	3.8B	1.7B	2.2B	3.5B
Shares outstanding	29.2M	30.9M	32.3M	32.6M	33.3M	33.6M	33M	32.8M	32.6M	31.6M	31.6M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	38.6	6.98	12.5	46.1	19.4	25.4	14.3	17.3	11.3	21.1	41.2
P/S	1.59	2.16	1.3	2.29	2.04	3.78	2.85	3.76	2.23	3.02	4.38
P/B	2.11	2.51	1.41	1.87	2.01	4.64	3.93	4.91	2.25	2.45	3.56
EV/EBITDA	19.5	14.8	6.78	20.4	11.4	16.6	10.1	12.8	6.94	13.7	34.9
EV/Sales	1.5	1.95	1	2.02	1.71	3.4	2.43	3.35	1.72	2.63	4.01
Earnings yield	2.59%	14.3%	7.98%	2.17%	5.16%	3.94%	6.98%	5.8%	8.84%	4.74%	2.43%
FCF yield	-2.66%	5.53%	7.35%	-3.26%	6.43%	5.65%	7.81%	3.21%	5.66%	4.22%	1.1%
PEG	—	—	—	—	—	—	—	—	—	—	-1.77

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	37.3%	36.6%	40.6%	42%	41.8%	43.2%	43.7%	43.5%	44.7%	44.9%	42.4%
Operating margin	6.33%	11.7%	13.5%	7.06%	12.2%	19.2%	23.1%	23.5%	20.7%	14.2%	9.43%
Net margin	4.12%	30.9%	10.4%	4.97%	10.5%	14.9%	19.9%	21.8%	19.7%	14.3%	10.7%
ROE	5.46%	35.9%	11.2%	4.06%	10.4%	18.3%	27.4%	28.5%	19.8%	11.6%	8.89%
ROA	3.64%	26%	8.37%	3.11%	8%	13.1%	18.1%	19.2%	14.9%	8.83%	4.12%
ROIC	9.46%	17.9%	18.1%	6.01%	15.9%	35.8%	67.4%	58.2%	37.9%	14.8%	11.1%
Return on tangible assets	3.64%	26%	8.37%	3.11%	8%	13.1%	18.1%	19.2%	14.9%	8.83%	6.69%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	5.04	4.29	4.67	5.47	5.58	4.12	3.54	3.79	5.41	4.77	4.9
Quick ratio	2.66	2.77	3.15	3.43	3.67	2.83	2.56	2.71	4.05	3.11	3.21
Debt / equity	0.24	0.13	0.12	0.12	0.1	0.09	0.07	0.05	0.04	0.04	0.07
Debt / assets	0.16	0.1	0.09	0.09	0.08	0.06	0.05	0.04	0.03	0.03	0.03
Net debt / EBITDA	-1.12	-1.59	-1.99	-2.69	-2.19	-1.82	-1.74	-1.55	-2.1	-2.06	-2.8
Interest coverage	3.17	9.56	11.7	5.06	11.7	25.9	37.7	53.1	43.2	26.8	21.4
Effective tax rate	0.21%	0%	16.1%	18.6%	10.6%	18.1%	10.6%	11.6%	12.7%	13%	12.6%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	9.14	13.3	13.7	10.5	14.3	19.7	27.8	34.5	31.3	26.6	28
EPS (basic)	0.38	4.11	1.42	0.52	1.5	2.94	5.54	7.52	6.17	3.81	3.81
EPS (diluted)	0.36	3.8	1.35	0.5	1.46	2.88	5.46	7.43	6.15	3.8	2.98
Book value per share	6.9	11.5	12.6	12.9	14.5	16.1	20.2	26.4	31.1	32.8	34.5
FCF per share	-0.39	1.59	1.31	-0.79	1.87	4.22	6.2	4.16	3.95	3.39	2.11
Cash per share	2.42	4.32	5.51	4.3	6.12	8.79	13.1	15.5	17.6	11.9	13
Capex per share	0.01	0	0	0	0.01	0	0	—	—	0.36	0.31

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.1%	0%	0%	0%	0.04%	0%	0%	—	—	1.35%	1.12%
Capex / operating cash flow	-3.12%	0%	0%	0%	0.23%	0%	0%	—	—	9.55%	12.9%
Payout ratio	—	—	—	—	—	—	—	—	—	—	0%

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$292.3M	$310.3M	$252.4M	$256.5M	$256.6M	$252.4M	$192.6M	$194.5M	$213.6M	$238.3M	$199M	$215.2M
YoY change	+27.6%	+16.6%	-0.65%	-6.37%	-12.2%	-18.7%	-23.7%	-24.2%	-16.7%	-5.58%	+3.32%	+10.6%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	70.8M	133.4M	178M	139.9M	203.5M	294.9M	432.2M	506.1M	571.3M	374.3M
Receivables	50.6M	75.3M	78.7M	83.8M	86.9M	104.4M	169.8M	218M	203.1M	168.5M
Inventory	113.9M	120.5M	129M	140.4M	161.1M	195M	242.4M	306.5M	282.2M	329M
Total current assets	240.7M	339.8M	396.8M	375.7M	470.8M	619.2M	877.6M	1.1B	1.1B	943.2M
Property, plant & equipment	30.8M	36.2M	41.1M	53.1M	54.9M	63.5M	69.8M	101.3M	98.8M	99.2M
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—
Total assets	302.2M	488.2M	548.4M	548.1M	624.6M	753.2M	1B	1.3B	1.3B	1.4B
Accounts payable	25M	32.6M	36M	25.3M	24M	38M	62.3M	54.4M	46.9M	42.3M
Short-term debt	—	—	—	399K	756K	979K	1.2M	1.5M	1.3M	1.6M
Total current liabilities	47.7M	79.3M	85M	68.7M	84.4M	150.1M	248.1M	285.1M	207.5M	197.7M
Long-term debt	47.6M	47.7M	47.8M	48.1M	47.4M	46.4M	45.2M	43.7M	42.3M	40.8M
Total liabilities	100.8M	134.6M	140.1M	128.7M	143M	214.3M	346.4M	417.1M	336M	326.7M
Shareholders' equity	201.5M	353.6M	408.3M	419.4M	481.6M	539M	667.3M	864.9M	1B	1B
Total debt	47.6M	47.7M	47.8M	48.5M	48.1M	47.4M	46.4M	45.2M	43.7M	42.3M
Net debt	-23.2M	-85.7M	-130.2M	-91.3M	-155.3M	-247.5M	-139.2M	-122.1M	-79.8M	-103.1M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	461M	506.1M	530.2M	548.3M	579.4M	571.3M	587.1M	549.8M	449.6M	374.3M	366.6M	402.2M
Receivables	192.3M	218M	208.5M	188.1M	183.5M	203.1M	164.9M	138.8M	147.6M	168.5M	161.8M	154.1M
Inventory	312.2M	306.5M	312.2M	283.1M	291M	282.2M	295.9M	310.8M	324.3M	329M	326.1M	338.2M
Total current assets	1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B	1.1B	984M	943.2M	935.7M	979.8M
Property, plant & equipment	95.2M	101.3M	98.9M	97.3M	100.5M	98.8M	100.8M	100.6M	101.9M	99.2M	99.5M	99.1M
Goodwill & intangibles	—	—	—	—	—	—	—	—	—	—	—	—
Total assets	1.2B	1.3B	1.3B	1.3B	1.3B	1.3B	1.3B	1.3B	1.4B	1.4B	1.4B	1.4B
Accounts payable	60.1M	54.4M	39.9M	45.8M	54M	46.9M	39M	37.1M	52.5M	42.3M	51.6M	58.8M
Short-term debt	1.4M	1.5M	1.5M	1.5M	1.4M	1.3M	1.4M	1.4M	1.5M	1.6M	1.6M	1.7M
Total current liabilities	261.2M	285.1M	276.6M	244.2M	252.3M	207.5M	200.4M	177.1M	199M	197.7M	203.9M	200.1M
Long-term debt	44.1M	43.7M	43.3M	43M	42.7M	42.3M	42M	41.6M	41.2M	40.8M	40.3M	39.8M
Total liabilities	400.7M	417.1M	404.9M	353.5M	362.5M	336M	313.4M	301.1M	331.8M	326.7M	329.9M	321M
Shareholders' equity	801M	864.9M	901.7M	934.9M	975.6M	1B	1B	1B	1B	1B	1B	1.1B
Total debt	45.5M	45.2M	44.8M	44.5M	44.1M	43.7M	43.3M	43M	42.7M	42.3M	42M	41.6M
Net debt	-96.8M	-122.1M	-89.1M	-100.7M	-76M	-79.8M	-140.6M	-130.6M	-144.8M	-103.1M	-108.9M	-113.4M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	11M	127M	45.9M	17M	50M	98.7M	183.1M	246.3M	201M	120.2M
Depreciation & amortization	4.3M	5M	5.8M	7.9M	9.9M	10.8M	11.6M	13.1M	15.8M	17.6M
Stock-based compensation	5.2M	5.7M	7.8M	8.2M	10.5M	12.1M	13.4M	18.3M	21M	20.8M
Change in working capital	-29.6M	-3.5M	-24.5M	-53.5M	-1.9M	8.6M	-5.1M	-81.2M	-73.7M	-38.8M
Operating cash flow	-8.6M	52M	46.2M	-17.1M	73.2M	150.4M	211.6M	176.4M	148.5M	118.3M
Capital expenditure	270K	0	0	0	168K	0	0	—	—	-11.3M
Investing cash flow	270K	0	0	0	168K	0	-246.6M	-80.2M	-96.5M	29.9M
Dividends paid	—	—	—	—	—	—	—	—	—	—
Share repurchases	—	0	0	-17.7M	-7.5M	-50M	-57.5M	-52.5M	-60.5M	-121.1M
Financing cash flow	-157K	-1.2M	-1.4M	-19.4M	-11.8M	-57.3M	-68.4M	-70.3M	-73.6M	-127M
Net change in cash	-8.5M	50.8M	44.8M	-36.5M	61.5M	93.1M	-103.4M	25.8M	-21.7M	21.3M
Free cash flow	-11.3M	49M	42.3M	-25.6M	62.3M	141.5M	204.9M	136.2M	128.6M	107M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	65.9M	71.1M	51.6M	50.9M	48.6M	50M	28.6M	31.4M	26M	34.3M	9.2M	23.3M
Depreciation & amortization	3.2M	3.6M	3.8M	3.9M	3.9M	4.3M	4.3M	4.5M	4.3M	4.5M	4.4M	4.4M
Stock-based compensation	5.1M	5.2M	4.7M	5.5M	5.4M	5.4M	4.9M	5.4M	5.3M	5.1M	4.9M	6.4M
Change in working capital	-34.8M	-4M	-15.5M	-21.9M	6.5M	-42.8M	2.4M	7.9M	637K	-49.7M	5.9M	-11.5M
Operating cash flow	34.2M	68.5M	43.5M	37.4M	60.9M	6.7M	39.1M	39.7M	45.4M	-6.6M	18.1M	18.4M
Capital expenditure	—	—	—	—	—	—	—	-2M	-2M	-2.3M	-1.8M	-3.6M
Investing cash flow	4.4M	-16.5M	-54.1M	-3.6M	-52.7M	13.8M	45.4M	-4.6M	1.4M	-7.3M	-10.6M	-6.1M
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	-12.5M	-15M	-15M	-15M	-15.4M	-15.1M	-18.2M	-45.3M	-32.3M	-25.2M	0	-244K
Financing cash flow	-13.2M	-16.1M	-18.1M	-23.8M	-16M	-15.7M	-20.1M	-48.2M	-32.8M	-25.8M	-1.4M	-9.2M
Net change in cash	25.4M	35.9M	-28.7M	10M	-7.8M	4.8M	64.4M	-13.1M	14M	-39.7M	6.1M	3.1M
Free cash flow	18.7M	55.4M	40.6M	38.1M	41.8M	8.1M	34.8M	37.7M	43.3M	-8.9M	16.3M	14.8M

Axcelis Technologies Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement