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Maker of precision power-conversion equipment used in semiconductor fabrication and industrial manufacturing processes.
Maker of precision power-conversion equipment used in semiconductor fabrication and industrial manufacturing processes.
Sells power supplies and radio-frequency power systems that chip-equipment makers build into their tools, so orders follow chipmakers' equipment spending and a design win lasts through a tool's production run. Its 2019 purchase of Artesyn's embedded power business widened it into industrial, medical and data-center power.
Moat: narrow (IP / patents, customer qualification, process know-how). Power-delivery systems are qualified into semiconductor tool designs over multi-year cycles.
Headquarters: Denver, Colorado, US · Founded: 1981 · Employees: 13,000
Size Advanced Energy Industries (AEIS) is a United States Information Technology company (Electronic Production Equipment) with a market value of $7.98B, the 886th largest of 3,117 United States companies the cockpit tracks. Shares closed at $197.01 on 6 Nov 2026.
Performance Over six months the shares fell 44.9%, against -24.2% for the median peer and -1.1% for the United States market (cap-weighted) — 6th lowest of 20 in its peer set.
Growth Revenue grew 31.7% over the last twelve months (peer median +22.2%); the operating margin is 17.0% (peer median 8.8%).
Valuation It trades at 11.7× forward earnings against a peer median of 20.0× (4th cheapest of 19).
Price implies For today's price to make sense, revenue must grow about 18% a year for seven years (Req g). Recent delivered growth is +5%, so the hurdle is +13 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 8.8 points above its cost of capital (10.8% WACC).
Credit Advanced Energy Industries has 1 bond outstanding ($1.15B).
Short interest Short interest is 3.8% 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 | $2.27B | $1.80B | $1.48B | $1.66B | $1.85B |
| Revenue growth | — | +21% | -10% | -10% | — |
| Gross profit | $905M | $630M | $461M | $528M | $620M |
| EBITDA | $451M | $268M | $141M | $214M | $314M |
| Net income | $289M | $148M | $54.2M | $128M | $200M |
| Free cash flow | $71.8M | $126M | $74.0M | $148M | $125M |
| Capital expenditure | $155M | $107M | $56.8M | $61.0M | $58.9M |
| Total debt | $1.39B | $679M | $672M | $1.02B | $484M |
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 |
|---|---|---|---|---|---|---|
| Advanced Energy Industries AEIS | $7.98B | -45% | +32% | 17% | 11.7× | 17.8% |
| MKS MKSI | $13.0B | -39% | +16% | 17% | 11.5× | 24.0% |
| COMET COTN.SW | $2.84B | -9% | -3% | 6% | 34.0× | n/a |
| Stanley Electric 6923.T | $2.41B | +1% | +11% | 7% | 9.9× | 1.3% |
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 | AEIS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -30.7% | -18.6% | 6th lowest of 21 |
| 6-month return | -44.9% | -24.2% | 6th lowest of 20 |
| Distance from 52-week high | -50.4% | -46.4% | 10th lowest of 21 |
| Revenue growth (TTM) | +31.7% | +22.2% | 8th highest of 21 |
| Operating margin | 17.0% | 8.8% | 5th highest of 21 |
| Forward P/E | 11.7× | 20.0× | 4th cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | 17.8% | 14.5% | 6th most demanding of 14 |
| Growth delivered (Del g) | +4.9% | +12.4% | 4th lowest of 14 |
| Hurdle (Req g minus delivered) | +12.9 pp | +4.8 pp | 6th most demanding of 14 |
| ROIC minus cost of capital | +8.8 pp | +1.3 pp | 3rd highest of 21 |
| EV / EBITDA | 17.6× | 15.1× | 5th most expensive of 13 |
| Net debt / EBITDA | -0.1× | -0.1× | 6th most indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Advanced Energy Industries AEIS | United States | $7.98B | -45% | +32% | 17% | 11.7× | 17.8% | +4.9% |
| Sanmina SANM | United States | $7.22B | -46% | +59% | 5% | 10.7× | 6.8% | +3.2% |
| Littelfuse LFUS | United States | $9.04B | -22% | +19% | 18% | 16.3× | 15.3% | +10.5% |
| Universal Scientific Industrial (Shanghai) 601231.SS | China | $6.50B | -52% | +4% | 3% | 19.6× | n/a | n/a |
| Phison Electronics 8299.TWO | Taiwan | $10.0B | -29% | +157% | 31% | 3.7× | n/a | n/a |
| MPI 6223.TWO | Taiwan | $10.2B | -31% | +38% | 30% | 37.2× | n/a | n/a |
| BYD Electronic 0285.HK | Hong Kong | $6.15B | -24% | +4% | 1% | 19.5× | -0.8% | +18.8% |
| Guobo Electronics 688375.SS | China | $5.61B | -49% | -12% | 13% | 83.0× | 39.7% | +1.4% |
| AAC Technologies 2018.HK | Hong Kong | $5.60B | -4% | +16% | 8% | 13.8× | 1.2% | +12.4% |
| Guangdong Fenghua Advanced Technology (Holding) 000636.SZ | China | $5.42B | +26% | +36% | 8% | 45.0× | 28.6% | +5.9% |
| 3Peak 688536.SS | China | $5.26B | -5% | +74% | 16% | 50.7× | 46.0% | +30.6% |
| Plexus PLXS | United States | $5.12B | -28% | +23% | 5% | 17.9× | n/a | n/a |
| Asmpt 0522.HK | Hong Kong | $5.02B | -47% | +21% | 9% | 20.4× | 12.1% | -1.3% |
| Shenzhen Jlc Technology Group Co Lt 001232.SZ | China | $12.9B | n/a | +28% | 15% | n/a | 52.7% | +28.4% |
| Lagercrantz LAGR-B.ST | Sweden | $4.72B | -6% | +17% | 15% | 30.8× | 20.6% | +21.0% |
| Quectel Wireless Solutions 603236.SS | China | $4.71B | +50% | +30% | 5% | 21.1× | n/a | n/a |
| MDA Space MDA.TO | Canada | $4.65B | -14% | +38% | 5% | 28.1× | n/a | n/a |
| LG Innotek 011070.KS | South Korea | $4.62B | -54% | +20% | 4% | 9.6× | -0.3% | +18.1% |
| Shenzhen Sunlord Electronics 002138.SZ | China | $4.55B | +11% | +20% | 16% | 24.4× | 14.5% | +14.2% |
| JoulWatt Technology 688141.SS | China | $4.44B | -30% | +50% | -28% | n/a | n/a | n/a |
| Universal Display OLED | United States | $3.98B | -4% | -2% | 35% | 19.6× | 14.3% | +8.7% |
Advanced Energy Industries has 1 bond outstanding with $1.15B face value.