AEISNasdaqElectronic Components, NECFiscal year ends December 31
ADVANCED ENERGY INDUSTRIES INC
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 3, 2026
$240.86+2.81 (+1.18%)
Close on Oct 19, 2026
- Market cap
- $10.19B
- P/E (TTM)
- 62.7
- Dividend yield
- 0.04%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
37.7%−0.6 pts over 5 years
Operating margin
9.3%−3.1 pts over 5 years
Net margin
–
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +21.4% | -0.8% | +4.9% | +21.0% | |
| Gross profit | +28.0% | +0.1% | +4.6% | +12.1% | |
| Operating income | +359.0% | -10.3% | -0.9% | +4.6% | |
| EPS, diluted | +168.5% | -10.1% | +1.9% | – | |
| Free cash flow | +70.1% | +0.3% | -5.3% | +2.3% | |
| Dividend per share | 0.0% | 0.0% | – | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 38.9% | 18.1% | – | |
| Return on assets | 24.7% | 8.5% | – | |
| Current ratio | 4.61 | 3.31 | 1.59 | |
| Debt to equity | – | 0.40 | – | |
| Net debt to EBITDA | – | -0.71× | – | |
| Interest coverage | – | 34.7× | 10.1× | |
| Inventory turnover | 4.3× | 3.9× | 2.9× | |
| Capex to revenue | 1.4% | 2.6% | 6.0% | |
| Diluted shares | 40M | 39M | 39M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Advanced Energy Industries generated $896.83M from operations and spent $566.45M on capital expenditure, dividends and share buybacks. 55% of that went back into the business.
Generated
$896.83M
Used
$566.45M
Capital expenditure$312.90M55%Dividends$76.79M14%Share buybacks$176.76M31%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin3.7%
×Asset turnover0.62×
×Equity multiplier2.05×
=Return on equity, FY20244.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2024 | 3.7% | 0.62× | 2.05× | 4.6% |
| FY2023 | 7.7% | 0.73× | 2.06× | 11.6% |
| FY2022 | 10.8% | 0.97× | 1.97× | 20.6% |
| FY2021 | 9.3% | 0.84× | 2.06× | 16.0% |
| FY2020 | 9.5% | 0.89× | 2.13× | 18.1% |
| FY2019 | 8.2% | 0.67× | 1.83× | 10.1% |
| FY2018 | 20.5% | 0.93× | 1.37× | 26.1% |
| FY2017 | 20.5% | 1.03× | 1.43× | 30.2% |
| FY2016 | 26.3% | 0.94× | 1.58× | 38.9% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 5 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero–
- Cash generatingOperating cash flow above zero$233.30M
- Return on assets improvedROA up on the prior year2.1% → –
- Earnings backed by cashOperating cash flow above net income$233.30M vs –
- Less leverageLong-term debt to assets fell25.0% → –
- Better liquidityCurrent ratio rose4.42 → 1.59
- No dilutionShare count did not rise38M → 39M
- Gross margin improvedGross margin up on the prior year35.72% → 37.66%
- More efficientAsset turnover rose0.58 → 0.80