Advanced Energy Industries, Inc.

AEIS Industrials Electrical Equipment & Parts

Advanced Energy Industries, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.8 billion, up 21.4% from fiscal 2024. In the quarter to June 2026, revenue grew 30.0%, EPS grew 107.5%, free cash flow grew 107.6% and total debt rose 123.3%, each against the same quarter a year earlier. Dividend growth for five consecutive years.

238.05 14.03 −5.57%
Market cap
$10.1B
P/E
41.2×
Fwd P/E
39.0×
Dividend yield
0.17%
F-score
7/9
Altman Z
5.81
Beneish M
−2.43
Dividend safety
82/100
Dec '16 Dec '17 Dec '18 Dec '19 Dec '20 Dec '21 Dec '22 Dec '23 Dec '24 Dec '25
Piotroski F-Score
8 7 5 3 7 4 7 4 5 7
P/E ratio
17.02 20.06 11.45 42.13 27.55 25.80 16.05 30.97 80.30 53.01
P/S ratio
4.50 4.11 2.33 3.45 2.62 2.39 1.74 2.41 2.93 4.38
Altman Z-Score
10.05 10.82 7.94 3.50 4.99 4.39 4.52 3.72 4.37 5.81
Altman Z″-Score (non-manufacturers)
8.84 10.27 10.19 4.64 5.88 5.74 6.11 5.94 5.90 4.60
P/FCF ratio
19.35 15.89 12.81 117.46 22.53 30.34 25.70 26.94 58.60 62.53
P/Operating CF
52.88 55.53 44.93 141.83 55.57 101.09 45.34 47.45 52.50 97.79
Beneish M-Score
(2.31) (2.61) (2.07) (1.61) (2.35) (2.57) (2.10) (2.85) (2.58) (2.43)
Dividend Safety Score
— — — — — — — — — 82
P/B ratio
5.55 5.30 2.76 4.02 4.56 3.99 3.01 3.48 3.60 5.78
Price to Tangible BV
6.76 6.37 3.72 9.39 8.51 6.95 5.38 5.70 5.65 8.34
EV/Sales
3.91 3.50 1.84 3.44 2.51 2.28 1.69 2.33 2.83 4.57
EV/EBITDA
14.03 11.18 7.16 33.72 15.88 16.24 10.61 21.24 38.56 35.23
EV/Operating CF
15.84 12.86 8.77 56.12 17.66 23.68 16.99 18.45 32.10 35.21
EV/FCF
16.80 13.53 10.13 117.03 21.56 29.02 25.01 26.07 56.74 65.25
Quick Ratio
3.83 4.70 4.12 1.87 2.44 2.11 1.93 3.95 3.14 1.13
Current Ratio
4.61 5.61 5.15 2.71 3.31 3.14 3.02 5.10 4.42 1.59
Net Debt/EBITDA
(2.13) (1.95) (1.90) (0.12) (0.72) (0.74) (0.29) (0.71) (1.45) (0.96)
Debt/Assets
0.00% 0.00% 0.00% 22.12% 19.55% 21.61% 18.74% 35.81% 24.97% 22.29%
Debt/Equity
0.00 0.00 0.00 0.50 0.40 0.45 0.35 0.80 0.47 0.42
Asset Turnover
0.94 1.03 0.93 0.67 0.89 0.84 0.97 0.73 0.62 0.75
Operating CF/Net income
0.94 1.33 1.03 0.75 1.49 1.04 0.92 1.63 2.41 1.57
Capex/Depreciation
(0.87) (0.96) (1.50) (0.96) (0.76) (0.49) (0.97) (0.90) (0.79) (1.65)
Interest Coverage
— — — — — 42.42 31.82 6.85 1.46 10.06
ROE
38.88% 30.21% 26.07% 10.11% 18.05% 15.97% 20.61% 11.61% 4.62% 11.57%
ROA
24.65% 21.13% 18.97% 5.53% 8.47% 7.78% 10.48% 5.64% 2.25% 6.17%
ROIC
75.23% 113.81% 41.96% 5.09% 16.81% 13.17% 14.85% 7.00% 2.19% 9.22%
Return on Tangible Assets
35.74% 27.20% 30.04% 9.92% 16.86% 14.86% 21.15% 8.31% 4.30% 17.35%
Average Days of Receivables
58.22 48.26 52.12 116.03 61.87 59.47 59.47 62.26 65.34 65.99
Research and Development Expense of Revenue
9.19% 8.64% 10.57% 12.87% 10.17% 11.12% 10.35% 12.22% 14.29% 12.92%
Selling, General and Administrative Expense of Revenue
16.06% 13.90% 15.03% 18.07% 13.32% 13.19% 11.84% 13.35% 15.16% 13.48%
Intangible Assets out of Total Assets
0.12 0.12 0.19 0.25 0.23 0.20 0.24 0.17 0.19 0.16
Share Based Compensation of Revenue
1.31% 1.87% 1.35% 0.93% 0.87% 1.08% 1.08% 1.87% 3.10% 3.10%
Graham Net Nets
0.12 0.14 0.21 0.00 0.04 0.06 0.08 0.08 0.08 0.05
Graham Number
26.74 31.93 36.21 25.94 41.05 42.60 58.42 48.53 32.24 56.76
Earnings Yield
5.88% 4.98% 8.74% 2.37% 3.63% 3.88% 6.23% 3.23% 1.25% 1.89%
Free Cash Flow Yield
5.17% 6.29% 7.80% 0.85% 4.44% 3.30% 3.89% 3.71% 1.71% 1.60%
Revenue per Share
12.18 16.88 18.39 20.61 36.95 38.17 49.26 44.15 39.52 47.84
Operating CF per Share
3.00 4.60 3.87 1.26 5.25 3.68 4.90 5.57 3.49 6.20
Capex per Share
(0.17) (0.23) (0.52) (0.66) (0.95) (0.68) (1.57) (1.63) (1.51) (2.86)
Free Cash Flow per Share
2.83 4.37 3.35 0.61 4.30 3.00 3.33 3.94 1.97 3.35
Cash per Share
7.22 10.32 9.00 9.12 12.61 14.27 12.25 27.85 19.26 21.04
Shareholders Equity per Share
9.87 13.10 15.54 17.69 21.28 22.85 28.46 30.51 32.08 36.24
Interest Debt per Share
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Book value per Share
9.87 13.10 15.54 17.69 21.28 22.85 28.46 30.51 32.08 36.24
Free Cash Flow
112.47 173.66 130.94 23.20 164.87 114.48 124.70 147.90 74.00 125.90
Working Capital
343.29 489.11 458.14 546.41 683.85 792.04 795.47 1,376.05 1,075.00 582.70
Capital Expenditures
(6.82) (9.04) (20.33) (25.19) (36.36) (25.77) (58.88) (61.00) (56.80) (107.40)
Net Current Asset Value
258.88 382.56 359.27 11.59 147.93 216.39 262.61 299.32 330.50 390.90
EV/EBIT
14.90 11.70 7.73 49.93 20.19 21.90 13.38 33.91 114.72 48.90
Capex to Sales
0.01 0.01 0.03 0.03 0.03 0.02 0.03 0.04 0.04 0.06
Price to Operating Income
17.16 13.74 9.78 50.11 21.11 22.90 13.75 35.04 118.47 46.86
Other line items
Depreciation/Fixed assets
0.59 0.53 0.43 0.24 0.42 0.46 0.41 0.40 0.39 0.24
Cash ROIC
16.57% 18.65% 13.65% 1.70% 10.17% 6.33% 6.57% 4.76% 2.97% 4.63%
Accounts Receivable Turnover
6.85 8.09 7.51 4.46 5.77 6.10 6.86 5.68 5.41 6.09
Accounts Payable Turnover
6.27 6.66 8.05 4.50 5.91 5.79 6.43 6.81 6.68 6.10
Inventory Turnover
4.26 4.69 4.00 2.89 3.87 3.30 3.28 2.99 2.74 2.91
Average Days of Payables
73.23 55.89 40.96 131.62 52.30 76.55 53.18 48.69 54.98 72.94
Days of Inventory on Hand
88.29 91.01 101.24 177.39 92.44 133.73 117.31 115.38 138.08 133.84
Average Receivables
70.57 82.94 95.69 176.74 245.40 238.60 268.96 291.56 273.87 295.25
Average Payables
36.75 47.22 43.91 105.16 147.95 159.47 182.09 156.16 142.68 183.80
Average Inventory
54.17 67.11 88.22 164.00 225.68 279.88 357.21 356.07 348.27 385.80
Average Assets
517.02 652.42 774.90 1,174.45 1,590.03 1,732.50 1,904.75 2,274.46 2,409.33 2,403.85
Average Common Equity
327.83 456.36 563.97 642.28 746.30 843.42 968.88 1,105.22 1,173.64 1,282.95

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Columns are period end dates