Advanced Energy Industries Inc. (AEIS) 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 %
Q1 27	$2.21	$2.74	+24.0%	—	—	—
Q4 26	$1.98	$2.09	+5.6%	—	—	—
Q3 26	$1.78	$1.94	+9.0%	—	—	—
Q2 26	$1.47	$1.74	+18.4%	—	—	—
Q1 26	$1.31	$1.5	+14.5%	—	—	—
Q4 25	$1.06	$1.23	+16.0%	—	—	—
Q3 25	$1.1	$1.3	+18.2%	—	—	—
Q2 25	$0.91	$0.98	+7.7%	—	—	—
Q1 25	$0.71	$0.85	+19.7%	—	—	—
Q4 24	$0.68	$0.58	-14.7%	—	—	—
Q3 24	$1.16	$1.24	+6.9%	—	—	—
Q2 24	$1.14	$1.28	+12.3%	—	—	—
Q1 24	$1.05	$1.11	+5.7%	—	—	—
Q4 23	$1.13	$1.24	+9.7%	—	—	—
Q3 23	$1.6	$1.7	+6.2%	—	—	—
Q2 23	$1.38	$2.12	+53.6%	—	—	—

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	—	$3.95	—	—	$1.8B	—
FY24	—	$1.45	—	—	$1.5B	—
FY23	—	$0.87	—	—	$1.7B	—
FY22	—	$5.33	—	—	$1.8B

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	$483.7M	$671M	$718.9M	$788.9M	$1.4B	$1.5B	$1.8B	$1.7B	$1.5B	$1.8B
YoY change	+16.6%	+38.7%	+7.14%	+9.74%	+79.5%	+2.83%	+26.8%	-10.3%	-10.5%	+21.4%

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	483.7M	671M	718.9M	788.9M	1.4B	1.5B	1.8B	1.7B	1.5B	1.8B
Cost of revenue	230.6M	314.6M	353.3M	473.3M	874M	923.6M	1.2B	1.1B	952.7M	1.1B
Gross profit	253.1M	356.4M	365.6M	315.7M	541.9M	532.3M	675.5M	592.4M	529.3M	677.4M
Gross margin	52.3%	53.1%	50.9%	40%	38.3%	36.6%	36.6%	35.8%	35.7%	37.7%
Research & development	44.4M	58M	76M	101.5M	144M	161.8M	191M	202.4M	211.8M	232.4M
Selling, general & administrative	77.7M	93.3M	108M	142.6M	188.6M	192M	218.5M	221M	224.5M	242.4M
Operating expenses	122.1M	151.3M	184M	244.1M	332.6M	353.8M	409.5M	423.5M	436.4M	474.8M
Operating income	126.9M	200.8M	175.8M	59.4M	189.2M	156.4M	239.9M	140.7M	66.9M	180.5M
Operating margin	26.2%	29.9%	24.5%	7.53%	13.4%	10.7%	13%	8.5%	4.52%	10%
Non-operating income, net	1.2M	-2.6M	-3.4M	7.8M	-31M	-4.6M	5M	-28.7M	-32.3M	-21.7M
Pretax income	128.1M	198.2M	172.4M	67.2M	158.1M	148.7M	241.7M	122.5M	52.4M	168.7M
Income tax	11.1M	62.1M	25.2M	10.7M	23M	14M	39.9M	-8.3M	-3.9M	19.4M
Net income	127.5M	137.9M	147.1M	65M	134.7M	134.8M	199.7M	128.3M	54.2M	148.4M
Net margin	26.3%	20.5%	20.5%	8.24%	9.52%	9.26%	10.8%	7.75%	3.66%	8.25%
EBITDA	134.7M	210.2M	193.6M	90.6M	250.1M	209.9M	316.2M	232.5M	176.3M	256.8M
EPS	3.21	3.47	3.76	1.7	3.52	3.53	5.33	0.87	1.45	3.95
Diluted EPS	3.18	3.43	3.74	1.69	3.5	3.51	5.29	0.86	1.43	3.84

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	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26
Revenue	415.5M	410M	405.3M	327.5M	364.9M	374.2M	415.4M	404.6M	441.5M	463.3M	489.4M	511M
Cost of revenue	268.4M	262.6M	262.4M	214.6M	237.2M	240.1M	260.7M	254.1M	278.1M	288.9M	300.3M	310.1M
Gross profit	147.1M	147.3M	142.9M	112.8M	127.7M	134.1M	154.7M	150.5M	163.4M	174.4M	189.1M	200.9M
Gross margin	35.4%	35.9%	35.3%	34.5%	35%	35.8%	37.2%	37.2%	37%	37.6%	38.6%	39.3%
Research & development	51.4M	50.4M	49M	49.8M	52.3M	53.6M	56.1M	54.2M	59M	59.1M	60.1M	62.4M
Selling, general & administrative	55.6M	55.1M	54.9M	55.1M	55M	56.2M	58.2M	59M	60.2M	59.8M	63.4M	62.3M
Operating expenses	107M	105.5M	104M	105M	107.3M	109.8M	114.3M	113.2M	119.2M	118.9M	123.5M	124.7M
Operating income	33M	34.8M	31.8M	922K	13.6M	17.5M	34.9M	31.8M	38.6M	49.9M	60.2M	70.9M
Operating margin	7.94%	8.48%	7.86%	0.28%	3.72%	4.68%	8.4%	7.86%	8.74%	10.8%	12.3%	13.9%
Non-operating income, net	-2.2M	-2.9M	-26.2M	1.1M	13K	-36.7M	3.2M	-4.6M	-11.7M	—	-5.4M	-2.6M
Pretax income	32.3M	34.5M	16.2M	7.6M	18.8M	-14.5M	40.6M	29.9M	29.3M	52.3M	57.2M	70M
Income tax	4.8M	874K	-21.7M	1.8M	3.2M	-400K	-8.5M	5M	3.8M	5.9M	4.7M	2.7M
Net income	27.1M	32.7M	37.5M	5.2M	15M	-14.9M	48.9M	24.7M	25.2M	46.2M	52.3M	66.8M
Net margin	6.53%	7.98%	9.25%	1.59%	4.12%	-3.98%	11.8%	6.1%	5.71%	9.97%	10.7%	13.1%
EBITDA	54.7M	59.8M	65M	31.9M	43.3M	38.3M	62.8M	50.7M	55.3M	71.5M	79.3M	92M
EPS	0.72	0.87	1.01	0.14	0.4	-0.4	1.3	0.66	0.67	1.23	1.39	1.77
Diluted EPS	0.72	0.86	1	0.14	0.4	-0.4	1.29	0.65	0.67	1.2	1.3	1.58

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	2.2B	2.7B	1.7B	2.7B	3.7B	3.5B	3.2B	4.1B	4.3B	7.9B	11.1B
Enterprise value	1.9B	2.3B	1.3B	2.8B	3.7B	3.4B	3.2B	4.1B	4.3B	7.8B	11.1B
Shares outstanding	39.7M	39.8M	39.1M	38.3M	38.3M	38.1M	37.5M	37.6M	37.5M	37.6M	37.6M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	17.1	19.5	11.4	41.9	27.6	25.8	16.1	31.9	79.9	53	51.5
P/S	4.5	4	2.33	3.45	2.62	2.39	1.74	2.47	2.92	4.38	5.46
P/B	5.55	5.15	2.76	4.02	4.56	3.99	3.01	3.58	3.6	5.78	7.63
EV/EBITDA	14	10.8	6.85	31.2	14.7	16.3	10.2	17.5	24.3	30.2	31.5
EV/Sales	3.9	3.39	1.84	3.58	2.59	2.36	1.76	2.46	2.89	4.31	5.45
Earnings yield	5.86%	5.14%	8.77%	2.38%	3.63%	3.88%	6.21%	3.13%	1.25%	1.89%	1.94%
FCF yield	5.17%	6.47%	7.8%	0.85%	4.43%	3.21%	3.88%	3.61%	1.71%	1.6%	0.31%
PEG	—	—	—	—	—	—	—	—	—	—	0.31

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	52.3%	53.1%	50.9%	40%	38.3%	36.6%	36.6%	35.8%	35.7%	37.7%	39.3%
Operating margin	26.2%	29.9%	24.5%	7.53%	13.4%	10.7%	13%	8.5%	4.52%	10%	17%
Net margin	26.3%	20.5%	20.5%	8.24%	9.52%	9.26%	10.8%	7.75%	3.66%	8.25%	10.8%
ROE	32.5%	26.5%	24.2%	9.59%	16.5%	15.5%	18.7%	11.2%	4.51%	10.9%	16.3%
ROA	22.3%	18.8%	18%	4.24%	8.18%	7.42%	10%	5.02%	2.4%	5.83%	6.25%
ROIC	109.9%	125%	58.7%	6.44%	21.1%	17.1%	18.3%	12.5%	5.81%	12.8%	14.7%
Return on tangible assets	29.6%	24.7%	29.3%	8.57%	15.1%	12.5%	19%	7.7%	3.9%	8.68%	10.8%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	4.61	5.61	5.15	2.71	3.31	3.14	3.02	5.1	4.42	1.59	3.79
Quick ratio	4.03	4.87	4.26	1.99	2.56	2.23	2.07	4.1	3.27	1.17	1.13
Debt / equity	—	—	0	0.66	0.53	0.58	0.45	0.89	0.56	0.5	0.95
Debt / assets	—	—	0	0.29	0.26	0.28	0.24	0.4	0.3	0.27	0.26
Net debt / EBITDA	—	—	-1.82	1.09	-0.19	-0.2	0.08	-0.09	-0.29	-0.44	-0.06
Interest coverage	—	—	—	—	—	42.6	34	8.39	3.09	13.4	16.2
Effective tax rate	8.69%	31.3%	14.6%	15.9%	14.5%	9.42%	16.5%	0%	0%	11.5%	8.19%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	12.2	16.9	18.4	20.6	37	38.2	49.3	44.1	39.5	47.8	53.7
EPS (basic)	3.21	3.47	3.76	1.7	3.52	3.53	5.33	0.87	1.45	3.95	3.95
EPS (diluted)	3.18	3.43	3.74	1.69	3.5	3.51	5.29	0.86	1.43	3.84	5.39
Book value per share	9.87	13.1	15.5	17.7	21.3	22.8	28.5	30.5	32.1	36.2	36.4
FCF per share	2.83	4.37	3.35	0.61	4.3	2.92	3.33	3.94	1.97	3.35	1.62
Cash per share	7.22	10.3	9	9.12	12.6	14.3	12.2	27.8	19.3	21	34.9
Capex per share	0.17	0.23	0.52	0.66	0.95	0.76	1.57	1.62	1.52	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	1.41%	1.35%	2.83%	3.19%	2.58%	1.98%	3.19%	3.68%	3.83%	—	—
Capex / operating cash flow	5.39%	5.38%	13.5%	40.6%	18.2%	23%	31.4%	28.7%	42.7%	—	—
Payout ratio	—	—	—	0%	0%	11.4%	7.61%	11.9%	28.3%	10.5%	7.38%
Dividend yield	—	—	—	0%	0%	0.44%	0.47%	0.37%	0.35%	0.2%	0.14%

Yield

0.14%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.10

ex-dividend Aug 24, 2026

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 24, 2026	$0.10
May 22, 2026	$0.10
Feb 23, 2026	$0.10
Nov 24, 2025	$0.10
Aug 25, 2025	$0.10
May 23, 2025	$0.10
Feb 24, 2025	$0.10
Nov 25, 2024	$0.10

Period	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26
Revenue	$415.5M	$410M	$405.3M	$327.5M	$364.9M	$374.2M	$415.4M	$404.6M	$441.5M	$463.3M	$489.4M	$511M
YoY change	-5.77%	-20.6%	-17.4%	-23%	-12.2%	-8.73%	+2.5%	+23.6%	+21%	+23.8%	+17.8%	+26.3%

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	286.7M	410.4M	351.8M	349.1M	483M	546.7M	458.8M	1B	722.1M	791.2M
Receivables	75.7M	87.4M	100.4M	246.6M	213.6M	217.5M	300.7M	282.4M	265.3M	325.2M
Inventory	55.8M	78.5M	98M	230M	221.3M	338.4M	376M	336.1M	360.4M	411.2M
Total current assets	438.3M	595.2M	568.4M	866.7M	980.2M	1.2B	1.2B	1.7B	1.4B	1.6B
Property, plant & equipment	11.8M	16M	29.5M	211.8M	216.8M	82M	83M	71.4M	85.3M	129.5M
Goodwill & intangibles	140.4M	174.6M	313.6M	773.9M	757.8M	743.2M	941.9M	890.6M	870.8M	837M
Total assets	571.5M	733.3M	816.5M	1.5B	1.6B	1.8B	2B	2.6B	2.3B	2.5B
Accounts payable	46.3M	48.2M	39.6M	170.7M	125.2M	193.7M	170.5M	141.8M	143.5M	224.1M
Short-term debt	—	—	—	35.8M	34.1M	35.8M	36.8M	37.7M	17.8M	583.3M
Total current liabilities	95M	106.1M	110.3M	320.3M	296.4M	370.2M	393M	335.8M	314.2M	991.2M
Long-term debt	—	—	0	412.1M	400.5M	467.9M	447.7M	985M	653.9M	95.7M
Total liabilities	179.5M	212.7M	209.2M	855.1M	832.3M	945.8M	925.9M	1.4B	1.1B	1.2B
Shareholders' equity	392.1M	520.6M	607.3M	677.3M	815.3M	871.5M	1.1B	1.1B	1.2B	1.4B
Total debt	—	—	0	447.9M	434.6M	503.8M	484.5M	1B	671.7M	679M
Net debt	—	—	-349.3M	101.4M	-45.7M	-40.6M	25.7M	-21.8M	-50.4M	-112.2M

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	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26
Cash & short-term investments	455.3M	985.9M	1B	1B	986.1M	657.3M	722.1M	723M	713.5M	758.6M	791.2M	699.5M
Receivables	258.8M	270.3M	282.4M	247.5M	262.4M	259.4M	265.3M	276.7M	304M	299.5M	325.2M	376.7M
Inventory	392.3M	364M	336.1M	361.3M	383.1M	377.7M	360.4M	368.8M	397.9M	399.7M	411.2M	458.7M
Total current assets	1.2B	1.7B	1.7B	1.7B	1.7B	1.3B	1.4B	1.4B	1.5B	1.5B	1.6B	1.6B
Property, plant & equipment	72.7M	76.6M	71.4M	85.6M	284.1M	267.9M	85.3M	298.2M	325.7M	342.4M	129.5M	406.3M
Goodwill & intangibles	916.4M	899.8M	890.6M	870.4M	898.2M	888.7M	870.8M	862.6M	859.2M	847.6M	837M	825.2M
Total assets	1.9B	2.5B	2.6B	2.5B	2.5B	2.2B	2.3B	2.3B	2.4B	2.4B	2.5B	2.6B
Accounts payable	149.3M	140.3M	141.8M	137.9M	157.5M	133M	143.5M	156.7M	191.6M	194.7M	224.1M	272.1M
Short-term debt	35.4M	37.5M	37.7M	37M	36.3M	18.4M	17.8M	19.2M	19.3M	17.9M	583.3M	583.9M
Total current liabilities	303.4M	314.8M	335.8M	298M	306.8M	291.5M	314.2M	319.2M	356.9M	366.5M	991.2M	1B
Long-term debt	431.3M	989.6M	985M	991.3M	984.6M	644.3M	653.9M	662.1M	668.2M	664.9M	95.7M	99.2M
Total liabilities	824.6M	1.4B	1.4B	1.4B	1.4B	1B	1.1B	1.1B	1.1B	1.1B	1.2B	1.2B
Shareholders' equity	1.1B	1.1B	1.1B	1.1B	1.2B	1.2B	1.2B	1.2B	1.3B	1.3B	1.4B	1.4B
Total debt	466.7M	1B	1B	1B	1B	662.6M	671.7M	681.3M	687.5M	682.8M	679M	683.1M
Net debt	11.5M	41.2M	-21.8M	10.6M	34.7M	5.3M	-50.4M	-41.7M	-26M	-75.8M	-112.2M	-16.4M

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	116.9M	136.1M	147.1M	56.5M	135.2M	134.7M	201.9M	130.7M	56.3M	149.3M
Depreciation & amortization	7.8M	9.4M	13.6M	26.1M	47.8M	52.9M	60.3M	66.5M	68.5M	62M
Stock-based compensation	6.3M	12.5M	9.7M	7.3M	12.3M	15.7M	19.8M	31M	45.9M	55.7M
Change in working capital	-8.2M	-18.8M	-25.1M	-30.1M	5.6M	-78.5M	-88.6M	18.1M	-22.2M	-22.5M
Operating cash flow	126.5M	168M	150.9M	62M	200.9M	125.5M	187.7M	212.5M	132.9M	233.3M
Capital expenditure	-6.8M	-9M	-20.3M	-25.2M	-36.5M	-28.8M	-58.9M	-61M	-56.8M	—
Investing cash flow	300K	-28.1M	-113.7M	-393.8M	-42.8M	-47.3M	-208.3M	-64.8M	-73.5M	-2.4M
Dividends paid	—	—	—	0	0	-15.4M	-15.2M	-15.2M	-15.4M	-15.6M
Share repurchases	0	-30M	-95.1M	0	-11.6M	-78.1M	-26.6M	-40M	-1.8M	-30.2M
Financing cash flow	-4K	-30M	-95.1M	338.7M	-29.1M	-23.6M	-61.8M	370.9M	-372.2M	-47.7M
Net change in cash	126.8M	109.9M	-57.9M	6.9M	128.9M	54.6M	-82.4M	518.6M	-312.9M	183.2M
Free cash flow	112.5M	173.7M	130.9M	23.2M	164.8M	111.4M	124.7M	147.9M	74M	125.9M

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	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26
Net income	27.5M	33.7M	37.9M	5.8M	15.4M	-14.1M	49.1M	24.9M	25.5M	46.4M	52.5M	67.3M
Depreciation & amortization	16.4M	16.8M	16.8M	17M	16.9M	17.9M	16.6M	16.1M	15.6M	15.1M	15.2M	15.8M
Stock-based compensation	7.9M	8.1M	8.2M	11M	11.4M	11.9M	11.6M	13M	13.6M	14.6M	14.5M	18.1M
Change in working capital	-28.2M	14.1M	54.7M	-26.1M	-38.5M	14.6M	26.2M	-25.9M	-10.3M	5.5M	8.2M	-108.8M
Operating cash flow	23.5M	72.5M	84.6M	8.4M	6.6M	32.8M	84.7M	29.2M	45.2M	78.7M	80.5M	-6M
Capital expenditure	-17.4M	-13.2M	-14.2M	-16.6M	-14.8M	-12.6M	-12.7M	-13.9M	—	—	—	—
Investing cash flow	-20.5M	-13.5M	-14.5M	-18.7M	-14.8M	-12.9M	-13M	-15.1M	-400K	-400K	-400K	-1.4M
Dividends paid	-3.8M	-3.8M	-3.8M	-3.8M	-3.9M	-3.8M	-3.8M	-3.8M	-3.9M	-3.9M	-4M	-3.8M
Share repurchases	0	-40M	0	—	—	-1.8M	0	-500K	-23.2M	0	-6.5M	-500K
Financing cash flow	-8.8M	-48.8M	-9.7M	-8.8M	-8.9M	-350.6M	-3.8M	-4.3M	-27.1M	-3.9M	-12.4M	-4.3M
Net change in cash	-5.8M	10.2M	60.4M	-19.1M	-17.1M	-330.8M	67.8M	9.8M	17.7M	74.4M	67.7M	-11.7M
Free cash flow	5.2M	59.4M	69.8M	-9.3M	-8.1M	21.4M	69.9M	15M	17.1M	50.8M	43M	-42.6M

Advanced Energy Industries 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

Dividend per share

Recent payouts

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