ADVANCED ENERGY INDUSTRIES INC AEIS
Advanced Energy provides highly engineered, critical, precision power conversion, measurement, and control solutions to our global customers. We design, manufacture, sell and service precision power products that transform, refine, and modify the raw electrical power coming from either the utility or the building facility and convert it into various types of highly controllable, usable power that is predictable, repeatable, and customizable to meet the necessary requirements for powering a wide range of complex equipment. Our products enable customers to reduce or optimize their energy consumption through increased power conversion efficiency, power density, power coupling, and process control across a wide range of applications.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.80B | $1.48B | $1.66B | $1.85B | $1.46B | $1.42B | $788.9M | $718.9M | $671.0M | $483.7M |
| Cost of revenue | $1.12B | $952.7M | $1.06B | $1.17B | $923.6M | $874.0M | $473.3M | $353.3M | $314.6M | $230.6M |
| Gross profit | $677.4M | $529.3M | $592.4M | $675.5M | $532.3M | $541.9M | $315.7M | $365.6M | $356.4M | $253.1M |
| R&D | $232.4M | $211.8M | $202.4M | $191.0M | $161.8M | $144.0M | $101.5M | $76.0M | $58.0M | $44.4M |
| SG&A | $242.4M | $224.6M | $221.0M | $218.5M | $192.0M | $188.6M | $142.6M | $108.0M | $93.3M | $77.7M |
| Total operating expenses | $509.4M | $492.7M | $478.7M | $442.4M | $380.6M | $365.8M | $261.3M | $194.1M | $155.6M | $126.3M |
| Operating income | $168.0M | $36.6M | $113.7M | $233.1M | $151.7M | $176.0M | $54.4M | $171.6M | $200.8M | $126.9M |
| Interest expense | $16.7M | $25.1M | $16.6M | $7.3M | $3.6M | — | — | $228.0K | $66.0K | — |
| Pre-tax income | $168.7M | $52.4M | $122.5M | $241.7M | $148.7M | $158.1M | $67.2M | $172.4M | $198.2M | $128.1M |
| Income tax | $19.4M | $3.9M | $8.3M | $39.9M | $14.0M | $23.0M | $10.7M | $25.2M | $62.1M | $11.1M |
| Net income | $148.4M | $54.2M | $128.3M | $199.7M | $134.7M | $134.7M | $64.9M | $147.0M | $137.9M | $127.5M |
| EPS, basic | 3.95 | 1.45 | 3.42 | 5.33 | 3.53 | 3.52 | 1.70 | 3.76 | 3.47 | 3.21 |
| EPS, diluted | 3.84 | 1.43 | 3.40 | 5.29 | 3.51 | 3.50 | 1.69 | 3.74 | 3.43 | 3.18 |
| Shares, diluted (wtd. avg.) | $38.6M | $37.8M | $37.8M | $37.7M | $38.4M | $38.5M | $38.5M | $39.4M | $40.2M | $40.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $791.2M | $722.1M | $1.04B | $458.8M | $544.4M | $480.4M | $346.4M | $349.3M | $407.3M | $282.0M |
| Short-term investments | — | — | — | — | $2.3M | $2.7M | $2.6M | $2.5M | $3.1M | — |
| Receivables | $325.2M | $265.3M | $282.4M | $300.7M | — | — | — | — | — | $75.7M |
| Inventory | $411.2M | $360.4M | $336.1M | $376.0M | $338.4M | $221.3M | $230.0M | $98.0M | $78.5M | $55.8M |
| Total current assets | $1.57B | $1.39B | $1.71B | $1.19B | $1.16B | $980.2M | $866.7M | $568.4M | $595.2M | $438.3M |
| Property, plant and equipment | $272.8M | $185.6M | $167.7M | $148.5M | $114.8M | $114.7M | $108.1M | $31.3M | $17.8M | $13.3M |
| Goodwill | $300.8M | $296.0M | $283.8M | $281.4M | $212.2M | $210.0M | $202.9M | $101.9M | $53.8M | $42.1M |
| Other intangibles | $117.7M | $139.4M | $161.5M | $189.5M | $159.4M | $168.9M | $184.0M | $54.9M | $33.5M | $28.1M |
| Total assets | $2.55B | $2.26B | $2.56B | $1.99B | $1.82B | $1.65B | $1.53B | $816.5M | $733.3M | $571.5M |
| Accounts payable | $224.1M | $143.5M | $141.8M | $170.5M | $193.7M | $125.2M | $170.7M | $39.6M | $48.2M | $46.3M |
| Short-term debt | $567.5M | — | $20.0M | $20.0M | $20.0M | $17.5M | $17.5M | — | — | — |
| Total current liabilities | $991.2M | $314.3M | $335.8M | $393.0M | $370.2M | $296.4M | $320.3M | $110.3M | $106.1M | $95.0M |
| Long-term debt | $567.5M | $564.7M | $895.7M | $353.3M | $372.7M | $304.5M | $321.5M | — | — | — |
| Total liabilities | $1.18B | $1.06B | $1.41B | $925.9M | $945.8M | $832.3M | $855.1M | $209.2M | $212.7M | $179.5M |
| Retained earnings | $1.13B | $1.03B | $989.7M | $915.3M | $756.3M | $712.3M | $577.7M | $512.8M | $333.2M | $195.4M |
| Total equity | $1.36B | $1.20B | $1.14B | $1.07B | $871.5M | $815.3M | $677.3M | $607.3M | $520.6M | $392.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $233.3M | $130.8M | $208.9M | $183.6M | $140.2M | $201.2M | $48.4M | $151.3M | $182.7M | $119.3M |
| Depreciation and amortisation | $62.0M | $68.5M | $66.5M | $60.3M | $52.9M | $47.8M | $26.1M | $13.6M | $9.4M | $7.8M |
| Stock-based compensation | $55.7M | $45.9M | $31.0M | $19.8M | $15.7M | $12.3M | $7.3M | $9.7M | $12.5M | $6.3M |
| Capital expenditure | $107.4M | $56.8M | $61.0M | $58.9M | $28.8M | $36.4M | $25.2M | $20.3M | $9.0M | $6.8M |
| Investing cash flow | -$109.8M | -$73.6M | -$64.7M | -$208.3M | -$47.3M | -$42.8M | -$393.8M | -$113.6M | -$28.1M | $300.0K |
| Financing cash flow | -$56.1M | -$377.1M | $445.7M | -$61.9M | -$25.4M | -$29.6M | $338.8M | -$97.1M | -$31.3M | $2.1M |
| Dividends paid | $15.6M | $15.4M | $15.2M | $15.2M | $15.4M | — | — | — | — | — |
| Buybacks | $30.2M | $1.8M | $40.0M | $26.6M | $78.1M | $11.6M | — | $95.1M | $30.0M | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-014731.
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| LGL | LGL GROUP INC | $94.6M | 68.2x | 10.2% |
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