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Axcelis Technologies, Inc.

ACLS Technology Semiconductor Equipment & Materials

Axcelis Technologies, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $839.0 million, down 17.6% from fiscal 2024. In the quarter to June 2026, revenue grew 10.6%, EPS fell 23.2%, free cash flow fell 60.7% and total debt fell 4.14%, each against the same quarter a year earlier.

108.35 6.76 −5.87%
Market cap
$3.6B
P/E
36.1×
Fwd P/E
59.9×
Dividend yield
—
F-score
5/9
Altman Z
6.74
Beneish M
−2.30
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 6.42
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — 2 — 1 1 1 15 2 — — — —
Insider Ownership 1.09%

Capital & Financial Ratios $m

Market Cap 3,550.00
Revenue 866.07
Net Income 92.79
Free Cash Flow 65.55
Net Debt (362.37)
Current Ratio 4.90 (at or above 1.5: strong)
Debt/Equity 0.04 (at or below 0.5: strong)
P/E ratio 36.12 (above 35: high)
Fwd P/E 59.90 (above 35: high)
P/S ratio 3.85
P/B ratio 3.13
Past 5Y EPS Growth 21.08% (at or above 15%: strong)
This Y EPS Growth (15.86%) (below 0%: weak)
Next Y EPS Growth 28.30% (at or above 15%: strong)
Next Y revenue growth 5.30%
Next 5Y EPS Growth 19.03% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.5×, against a ten-year median of 2.1×; over the ten years it ranged from 0.8× in 2016 to 6.3× in 2026.
P/E against its own 10 years 84.92%
10-year low 10-year high
P/S against its own 10 years 85.29%
10-year low 10-year high
P/B against its own 10 years 63.99%
10-year low 10-year high
EV/Sales against its own 10 years 85.11%
10-year low 10-year high
EV/FCF against its own 10 years 95.11%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
2017 Powerpack
special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 506 571 374 402
Receivables 218 203 168 154
Inventory 306 282 329 338
Other — — — —
1,080 1,124 943 980
2023 2024 2025 Q'26
Payables 54 47 42 59
ST’ Debt — — — —
Other 27 39 43 35
285 208 198 200

Compound Annual Growth %

10y 5y 3y
Sales 10.78% 12.07% (3.02%)
Cash Flow 20.54% 11.16% (18.13%)
Earnings 23.41% 19.19% (13.08%)
Book Value 18.87% 16.53% 15.75%

Revenue $m

Mar Jun Sep Dec Year
’26 199 215 — — —
’25 193 195 214 238 839
’24 252 257 257 252 1,018
’23 254 274 292 310 1,131
’22 204 221 229 266 920
’21 133 147 177 206 662
’20 119 123 110 122 475
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 18 18 — — —
’25 40 40 45 (7) 118
’24 42 40 46 13 141
’23 35 33 24 66 157
’22 26 3 64 122 216
’21 15 31 66 38 150
’20 40 17 19 (6) 70
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 16 15 — — —
’25 35 38 43 (9) 107
’24 41 38 42 8 129
’23 32 30 19 55 136
’22 24 2 60 119 205
’21 14 30 63 35 141
’20 38 15 17 (8) 62
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.30 0.75 — — —
’25 0.88 0.98 0.83 1.10 3.80
’24 1.57 1.55 1.49 1.54 6.15
’23 1.43 1.86 1.99 2.15 7.43
’22 1.22 1.32 1.21 1.71 5.46
’21 0.48 0.55 0.81 1.05 2.88
’20 0.33 0.39 0.32 0.43 1.46
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 7.16 14.00 15.46 13.99 12.99 28.45 46.41 76.97 68.23 40.40

Analyst estimates 2026–2028

Powerpack
High 14.68 37.05 31.60 25.00 31.50 75.40 88.73 201.00 158.61 102.93
People
People Employees 845 985 1,079 1,009 1,048 1,195 1,485 1,704 1,563 1,515
Revenue/emp, $m 0.32 0.42 0.41 0.34 0.45 0.55 0.62 0.66 0.65 0.55
Income, $m
Income, $m Revenue 267 411 443 343 475 662 920 1,131 1,018 839
Gross margin, % 37.31 36.60 40.59 42.03 41.85 43.24 43.67 43.45 44.67 44.91
EBT 11 44 55 21 56 120 205 279 230 138
EBT margin, % 4.13 10.68 12.36 6.10 11.78 18.18 22.27 24.64 22.62 16.48
Net income 11 127 46 17 50 99 183 246 201 120
Depreciation 4 5 6 8 10 11 12 1 3 13
Per share, $
Per share, $ Revenue 9.14 13.30 13.71 10.53 14.27 19.74 27.84 34.51 31.27 26.57
Earnings 0.38 4.11 1.42 0.52 1.50 2.94 5.54 7.52 6.17 3.81
Cash flow (0.30) 1.82 1.45 (0.42) 2.10 4.48 6.53 4.79 4.33 3.75
Capex (0.08) (0.24) (0.15) (0.37) (0.22) (0.26) (0.32) (0.63) (0.37) (0.36)
Free cash flow (0.38) 1.59 1.31 (0.79) 1.88 4.22 6.20 4.16 3.95 3.39
Book value 6.90 11.46 12.65 12.88 14.48 16.06 20.19 26.40 31.11 32.77
Shares, m 29 31 32 33 33 34 33 33 33 32
Valuation, ×
Valuation, × P/E 37.24 7.31 12.54 45.47 19.41 25.36 14.09 16.59 11.32 21.03
P/S 1.55 2.22 1.30 2.29 2.04 3.78 2.81 3.61 2.23 3.02
P/B 2.05 2.58 1.41 1.87 2.01 4.64 3.87 4.72 2.25 2.45
EV/Sales 1.39 1.96 1.04 2.06 1.74 3.42 2.40 3.22 1.73 2.64
EV/FCF (33.61) 16.45 10.86 (27.68) 13.24 16.03 10.79 26.71 13.68 20.72
Cash, $m
Cash, $m Operating cash flow (9) 56 47 (14) 70 150 216 157 141 118
Capex (2) (7) (5) (12) (7) (9) (11) (21) (12) (11)
Free cash flow (11) 49 42 (26) 62 141 205 136 129 107
Balance, $m
Balance, $m Working capital 193 260 312 307 386 469 630 795 916 746
Total debt 48 48 48 48 47 46 45 44 42 41
Net debt (23) (86) (130) (92) (156) (249) (387) (462) (529) (333)
Shareholders’ equity 201 354 408 419 482 539 667 865 1,013 1,035
Returns, %
Returns, % ROA 3.77 32.12 8.85 3.11 8.52 14.32 20.72 21.46 15.28 8.87
ROIC 5.83 11.19 13.48 4.62 11.14 27.40 47.36 41.28 27.23 10.64
ROE 5.71 45.75 12.04 4.12 11.09 19.33 30.36 32.15 21.41 11.75
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Axcelis Technologies, Inc. vs peers in Semiconductor Equipment & Materials (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
KLIC Kulicke and Soffa Industries, Inc. $4.4B 35.6× 34.7× +122.63% (above 0%: growing) n/m +856.72% (above 0%: growing) 47.80% 20.66% Compare
ACMR ACM Research, Inc. $4.1B 23.6× 36.3× +36.01% (above 0%: growing) +178.72% (above 0%: growing) −19.43% (below 0%: shrinking) 45.96% 16.98% Compare
AXTI AXT Inc $3.8B 1,716× 379× +164.77% (above 0%: growing) n/m +173.29% (above 0%: growing) 44.90% 21.90% Compare
ACLS Axcelis Technologies, Inc. $3.6B 36.1× 59.9× +10.60% (above 0%: growing) −23.23% (below 0%: shrinking) −60.74% (below 0%: shrinking) 42.38% 9.43%
IPGP IPG Photonics Corporation $3.1B 108× 82.3× +11.11% (above 0%: growing) −25.00% (below 0%: shrinking) +200.46% (above 0%: growing) 40.39% 1.63% Compare
AMBA Ambarella, Inc. $2.8B — (loss-making) — (loss-making) +13.21% (above 0%: growing) n/m −612.08% (below 0%: shrinking) 57.73% (7.53%) Compare
VECO Veeco Instruments Inc. $2.8B 113× 57.6× +16.48% (above 0%: growing) −5.00% (below 0%: shrinking) +776.15% (above 0%: growing) 38.68% 6.13% Compare
COHU Cohu, Inc. $2.6B — (loss-making) — (loss-making) +38.37% (above 0%: growing) n/m −39.36% (below 0%: shrinking) 45.36% 0.20% Compare
UCTT Ultra Clean Holdings, Inc. $2.5B — (loss-making) 98.9× +24.31% (above 0%: growing) n/m −558.40% (below 0%: shrinking) 16.08% 4.57% Compare
Median of peers $3.0B 108× 70.0× +30.16% −5.00% +76.93% 45.13% 5.35%

All 29 Semiconductor Equipment & Materials stocks →

Axcelis Technologies, Inc. (ACLS) key facts

  • Concern: Axcelis Technologies, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $839.0 million, down 17.6% from fiscal 2024.
  • Axcelis Technologies, Inc. (ACLS) is a Semiconductor Equipment & Materials company in the Technology sector, listed on Nasdaq.
  • As of October 16, 2026, ACLS traded at $108.35, a market capitalization of $3.6 billion.
  • Return on equity was 11.8% and debt-to-equity 0.04.
  • Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 6.74 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Axcelis Technologies, Inc. (ACLS) Latest News

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stockrow.com/ACLS · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com