AEIS — Advanced Energy Industries, Inc.Industrials · Electrical Equipment & PartsNASDAQ

$13.6B

Mkt Cap

$13.5B

Ent. Value

$112.2M

Net Cash

$357.24

52W $106 – $397

$13.6B

Mkt Cap

$13.5B

Ent. Value

$112.2M

Net Cash

100.8×

P/E TTM

—

PEG

107.9×

P/FCF

10.0×

P/Book

7.6×

P/Sales

55.1×

EV/EBITDA

74.6×

EV/EBIT

107.0×

EV/FCF

7.5×

EV/Sales

1.0%

Earn Yld

0.9%

FCF Yld

0.1%

Div Yld

$357.24

All values in US Dollars (USD)

USD	FY2025	FY2024	FY2023	FY2022
Revenue	1.80B	1.48B	1.66B	1.85B
YoY Growth	+21.4%	-10.5%	-10.3%	—
Gross Profit	677.40M	529.30M	592.40M	675.51M
Gross Margin	37.7%	35.7%	35.8%	36.6%
R&D	232.40M	211.80M	202.40M	191.02M
SG&A	242.40M	224.60M	221.00M	218.46M
EBIT	180.50M	66.90M	140.70M	239.91M
EBIT Margin	10.0%	4.5%	8.5%	13.0%
D&A	62.00M	68.50M	66.50M	60.30M
EBITDA	244.30M	142.90M	204.20M	309.36M
EBITDA Margin	13.6%	9.6%	12.3%	16.8%
Net Income	148.40M	54.20M	128.30M	199.66M
Net Margin	8.2%	3.7%	7.7%	10.8%
EPS (diluted)	$3.84	$1.43	$0.86	$5.29
Shares (dil., M)	39	38	38	38

Company Brief

Advanced Energy Industries, Inc. provides precision power conversion, measurement, and control solutions in the United States, Asia, Europe, and internationally. The company's plasma power products offer solutions to enable innovation for semiconductor and thin film plasma processes, such as dry etch and deposition. It also provides high and low voltage power products used in a range of applications, such as semiconductor equipment, industrial production, medical and life science equipment, data centers computing, networking, and telecommunications. In addition, the company supplies sensing, controls, and instrumentation products for advanced measurement and calibration of power and temperature. Further, it provides calibration, conversions, upgrades, and refurbishments and used equipment to companies, as well as repair and maintenance services. The company offers its products through direct sales force, direct and indirect sales channels, and distributors, as well as provides warranty and non-warranty repair services. Advanced Energy Industries, Inc. was incorporated in 1981 and is headquartered in Denver, Colorado.

CEOMr. Stephen D. Kelley J.D.Employees13,000IPO Date1995-11-17CountryUnited StatesWebsitewww.advancedenergy.com

Margins (TTM)

Gross Margin	37.7%
EBITDA Margin	13.6%
EBIT Margin	10.0%
Net Margin	8.2%
FCF Margin	7.0%

Returns on Capital

ROIC	7.8%
ROCE	11.6%
ROE	10.9%
ROA	5.8%
Asset Turnover	0.71×

Earnings Quality

FCF / Net Income	84.8%
SBC / Net Income	37.5%
SBC / Revenue	3.1%
Capex / D&A	1.73×

Growth (CAGR)

Metric	3yr
Revenue	-0.8%
EPS	-10.1%
FCF	0.3%
Dividend	—

Ownership

Float	98.3%
Shares Out.	38.0M
Insiders %	1.1%
Institutions %	103.2%
Institutions (of float)	104.3%
Institution holders	684
Insider net buy 6M	+0.3%

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Balance Sheet

Cash & ST Invest.	$791.2M
Total Debt	$679.0M
Net Cash / (Debt)	$112.2M
Total Assets	$2.5B
Total Equity	$1.4B
Goodwill & Intang.	$418.5M
Tangible Book Value	$944.3M
NCAV (Graham)	$390.9M
Tangible Book/sh	$24.83
NCAV/sh	$10.28

Leverage

D/E Ratio	0.50×
Net Debt / EBITDA	-0.46×
Interest Coverage	13.27×
Current Ratio	1.59×
Quick Ratio	1.17×

Capital Allocation (last FY)

Capex	$107.4M
Capex / Revenue	6.0%
SBC	$55.7M
Dividends Paid	$15.6M
Buybacks	$30.2M

Dividends

Annual DPS	$0.40
Yield (fwd)	0.11%
Payout Ratio	10.3%
Ex-div Date	2026-02-23

Valuation vs History

P/E vs 4Y	100.8×vs 67.7× median
Div yield vs 10Y	10.0%vs 0.4% median

Buyback History

FY 2025$30.2M+0.1%

FY 2024$1.8M+1.1%

FY 2023$40.0M-0.3%

FY 2022$26.6M—

Margins (TTM)

Gross Margin	37.7%
EBITDA Margin	13.6%
EBIT Margin	10.0%
Net Margin	8.2%
FCF Margin	7.0%

Returns on Capital

ROIC	7.8%
ROCE	11.6%
ROE	10.9%
ROA	5.8%
Asset Turnover	0.71×

Earnings Quality

FCF / Net Income	84.8%
SBC / Net Income	37.5%
SBC / Revenue	3.1%
Capex / D&A	1.73×

Growth (CAGR)

Metric	3yr
Revenue	-0.8%
EPS	-10.1%
FCF	0.3%
Dividend	—

Ownership

Float	98.3%
Shares Out.	38.0M
Insiders %	1.1%
Institutions %	103.2%
Institutions (of float)	104.3%
Institution holders	684
Insider net buy 6M	+0.3%

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$357.24

All values in US Dollars (USD)

USD	FY2025	FY2024	FY2023	FY2022
Revenue	1.80B	1.48B	1.66B	1.85B
YoY Growth	+21.4%	-10.5%	-10.3%	—
Gross Profit	677.40M	529.30M	592.40M	675.51M
Gross Margin	37.7%	35.7%	35.8%	36.6%
R&D	232.40M	211.80M	202.40M	191.02M
SG&A	242.40M	224.60M	221.00M	218.46M
EBIT	180.50M	66.90M	140.70M	239.91M
EBIT Margin	10.0%	4.5%	8.5%	13.0%
D&A	62.00M	68.50M	66.50M	60.30M
EBITDA	244.30M	142.90M	204.20M	309.36M
EBITDA Margin	13.6%	9.6%	12.3%	16.8%
Net Income	148.40M	54.20M	128.30M	199.66M
Net Margin	8.2%	3.7%	7.7%	10.8%
EPS (diluted)	$3.84	$1.43	$0.86	$5.29
Shares (dil., M)	39	38	38	38

Company Brief

CEOMr. Stephen D. Kelley J.D.Employees13,000IPO Date1995-11-17CountryUnited StatesWebsitewww.advancedenergy.com

Balance Sheet

Cash & ST Invest.	$791.2M
Total Debt	$679.0M
Net Cash / (Debt)	$112.2M
Total Assets	$2.5B
Total Equity	$1.4B
Goodwill & Intang.	$418.5M
Tangible Book Value	$944.3M
NCAV (Graham)	$390.9M
Tangible Book/sh	$24.83
NCAV/sh	$10.28

Leverage

D/E Ratio	0.50×
Net Debt / EBITDA	-0.46×
Interest Coverage	13.27×
Current Ratio	1.59×
Quick Ratio	1.17×

Capital Allocation (last FY)

Capex	$107.4M
Capex / Revenue	6.0%
SBC	$55.7M
Dividends Paid	$15.6M
Buybacks	$30.2M

Dividends

Annual DPS	$0.40
Yield (fwd)	0.11%
Payout Ratio	10.3%
Ex-div Date	2026-02-23

Valuation vs History

P/E vs 4Y	100.8×vs 67.7× median
Div yield vs 10Y	10.0%vs 0.4% median

Buyback History

FY 2025$30.2M+0.1%

FY 2024$1.8M+1.1%

FY 2023$40.0M-0.3%

FY 2022$26.6M—

Not investment adviceUpdated 4/17/2026