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Makes ion implantation equipment used to dope silicon wafers during semiconductor manufacturing.
Makes ion implantation equipment used to dope silicon wafers during semiconductor manufacturing.
Sells high-priced implant tools to a small group of chipmakers, so orders are lumpy and follow customers' factory building and upgrades, with spare parts, upgrades and service on installed machines providing steadier income between tool orders. It focuses on one type of tool rather than a broad equipment range.
Moat: narrow (installed base, customer qualification, process know-how). Qualified tool-of-record status at chipmakers for implant steps is costly for customers to switch away from.
Headquarters: Beverly, Massachusetts, United States · Founded: 1978 · Employees: 1,465
Size Axcelis Technologies (ACLS) is a United States Information Technology company (Industrial Machinery) with a market value of $3.06B, the 1534th largest of 3,117 United States companies the cockpit tracks. Shares closed at $99.24 on 6 Nov 2026.
Performance Over six months the shares fell 39.1%, against -28.8% for the median peer and -1.1% for the United States market (cap-weighted) — 6th lowest of 15 in its peer set.
Growth Revenue fell 3.4% over the last twelve months (peer median +6.6%); the operating margin is 10.3% (peer median 13.3%).
Valuation It trades at 17.8× forward earnings against a peer median of 12.6× (4th most expensive of 14).
Price implies For today's price to make sense, revenue must grow about 31% a year for seven years (Req g). Recent delivered growth is +12%, so the hurdle is +19 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 4.4 points below its cost of capital (14.0% WACC).
Short interest Short interest is 4.7% of the free float (15 Oct 2026).
Next results Next results expected around 10 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $866M | $839M | $1.02B | $1.13B | $920M |
| Revenue growth | — | -18% | -10% | +23% | — |
| Gross profit | $373M | $377M | $455M | $491M | $402M |
| EBITDA | $107M | $137M | $227M | $279M | $224M |
| Net income | $92.8M | $120M | $201M | $246M | $183M |
| Free cash flow | $65.6M | $107M | $129M | $136M | $199M |
| Capital expenditure | $9.74M | $11.3M | $12.2M | $20.7M | $10.7M |
| Total debt | $69.8M | $71.8M | $73.5M | $75.9M | $58.7M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Axcelis Technologies ACLS | $3.06B | -39% | -3% | 10% | 17.8× | 31.2% |
| Applied Materials AMAT | $264B | -24% | +8% | 31% | 18.8× | 25.5% |
| Sumitomo Heavy Industries 6302.T | $3.64B | -10% | +9% | 6% | 13.0× | 6.3% |
| ULVAC 6728.T | $2.01B | -34% | +7% | 7% | 15.5× | 14.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ACLS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -25.6% | -38.0% | 5th highest of 15 |
| 6-month return | -39.1% | -28.8% | 6th lowest of 15 |
| Distance from 52-week high | -48.8% | -57.6% | 6th highest of 15 |
| Revenue growth (TTM) | -3.4% | +6.6% | 3rd lowest of 15 |
| Operating margin | 10.3% | 13.3% | 6th lowest of 14 |
| Forward P/E | 17.8× | 12.6× | 4th most expensive of 14 |
| Growth the price implies (Req g, 7 yrs) | 31.2% | 14.5% | 2nd most demanding of 9 |
| Growth delivered (Del g) | +12.1% | +3.2% | 4th highest of 9 |
| Hurdle (Req g minus delivered) | +19.1 pp | +11.6 pp | 3rd most demanding of 9 |
| ROIC minus cost of capital | -4.4 pp | -2.5 pp | 8th highest of 15 |
| EV / EBITDA | 25.5× | 14.2× | 3rd most expensive of 14 |
| Net debt / EBITDA | -3.1× | -0.9× | 3rd least indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Axcelis Technologies ACLS | United States | $3.06B | -39% | -3% | 10% | 17.8× | 31.2% | +12.1% |
| ACM Research ACMR | United States | $3.11B | -25% | +27% | 13% | 16.0× | n/a | n/a |
| Crane NXT CXT | United States | $3.31B | +27% | +17% | 16% | 12.6× | 7.8% | -9.7% |
| Kulicke and Soffa Industries, I KLIC | United States | $3.35B | -38% | +44% | 13% | 10.9× | 24.4% | +1.0% |
| EO Technics 039030.KS | South Korea | $2.53B | -39% | +26% | 25% | 29.9× | 18.0% | +3.2% |
| Sumco 3436.T | Japan | $3.96B | -28% | +4% | -4% | n/a | n/a | n/a |
| GPGI GPGI | United States | $4.12B | +2% | -100% | n/a | 14.2× | n/a | n/a |
| Badger Meter BMI | United States | $4.52B | +33% | -2% | 19% | 32.5× | 10.9% | +16.6% |
| Ultra Clean UCTT | United States | $1.97B | -53% | +16% | 4% | 7.2× | n/a | n/a |
| Omron 6645.T | Japan | $5.79B | -17% | -2% | 9% | 16.7× | 11.7% | +3.2% |
| Ichor ICHR | United States | $1.16B | -58% | +15% | 3% | 9.9× | n/a | n/a |
| Shibaura Mechatronics 6590.T | Japan | $1.03B | -51% | +1% | 16% | 10.3× | n/a | n/a |
| Screen 7735.T | Japan | $9.20B | -24% | +3% | 20% | 12.4× | 17.3% | +13.6% |
| HANMISemi 042700.KS | South Korea | $11.3B | -56% | -20% | 42% | 54.4× | 41.7% | +17.5% |
| Eastman Kodak KODK | United States | $786M | -30% | +9% | 4% | 11.1× | -14.7% | +0.8% |