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Advanced Energy Industries, Inc. provides precision power conversion, measurement, and control solutions in the United States, Asia, Europe, and internationally. The company's plasma power products offer solutions to enable innovation for semiconductor and thin film plasma processes, such as dry etch and deposition. It also provides high and low voltage power products used in a range of applications, such as semiconductor equipment, industrial production, medical and life science equipment, data centers computing, networking, and telecommunications. In addition, the company supplies sensing, controls, and instrumentation products for advanced measurement and calibration of power and temperature. Further, it provides calibration, conversions, upgrades, and refurbishments and used equipment to companies, as well as repair and maintenance services. The company offers its products through direct sales force, direct and indirect sales channels, and distributors, as well as provides warranty and non-warranty repair services. Advanced Energy Industries, Inc. was incorporated in 1981 and is headquartered in Denver, Colorado.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.8B | $244M | $148M | $126M | 10.9% | 21.4% | 173.8% |
| 2024 | $1.5B | $143M | $54M | $74M | 4.5% | -10.5% | -57.8% |
| 2023 | $1.7B | $204M | $128M | $148M | 11.2% | -10.3% | -35.7% |
| 2022 | $1.8B | $309M | $200M | $125M | 18.7% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 1,845.42 | 1,655.80 | 1,482 | 1,798.80 |
| Cost Of Revenue | 1,169.92 | 1,063.40 | 952.70 | 1,121.40 |
| Gross Profit | 675.51 | 592.40 | 529.30 | 677.40 |
| Operating Expense | 435.60 | 451.70 | 462.40 | 496.90 |
| Operating Income | 239.91 | 140.70 | 66.90 | 180.50 |
| EBITDA | 309.36 | 204.20 | 142.90 | 244.30 |
| EBIT | 249.07 | 137.70 | 74.40 | 182.30 |
| Pretax Income | 241.74 | 122.50 | 52.40 | 168.70 |
| Tax Provision | 39.85 | -8.30 | -3.90 | 19.40 |
| Net Income | 199.66 | 128.30 | 54.20 | 148.40 |
| Net Income Common Stockholders | 199.66 | 128.30 | 54.20 | 148.40 |
| Total Expenses | 1,605.51 | 1,515.10 | 1,415.10 | 1,618.30 |
| Interest Expense | 7.33 | 15.20 | 22 | 13.60 |
| Interest Income | 4.15 | 27.10 | 42.90 | 26.60 |
| Research And Development | 191.02 | 202.40 | 211.80 | 232.40 |
| Selling General And Administration | 218.46 | 221 | 224.60 | 242.40 |
| Normalized EBITDA | 316.18 | 231.20 | 173.20 | 256.80 |
| Normalized Income | 207.56 | 152.13 | 80.24 | 160.36 |
| Basic EPS | 5.33 | 0.87 | 1.45 | 3.95 |
| Diluted EPS | 5.29 | 0.86 | 1.43 | 3.84 |
| Tax Effect Of Unusual Items | -1.12 | -5.67 | -6.36 | -1.44 |
| Tax Rate For Calcs | 0.17 | 0.21 | 0.21 | 0.11 |
| Total Unusual Items | -6.81 | -27 | -30.30 | -12.50 |
| Total Unusual Items Excluding Goodwill | -6.81 | -27 | -30.30 | -12.50 |
| Net Income From Continuing Operation Net Minority Interest | 201.88 | 130.80 | 56.30 | 149.30 |
| Reconciled Depreciation | 60.30 | 66.50 | 68.50 | 62 |
| Reconciled Cost Of Revenue | 1,135.73 | 1,025.20 | 910.20 | 1,081.50 |
| Net Interest Income | -3.18 | 10.60 | 17.70 | 9.90 |
| Net Income From Continuing And Discontinued Operation | 199.66 | 128.30 | 54.20 | 148.40 |
| Total Operating Income As Reported | 233.09 | 113.70 | 36.60 | 168 |
| Diluted Average Shares | 37.72 | 37.85 | 37.84 | 38.60 |
| Basic Average Shares | 37.46 | 37.58 | 37.48 | 37.60 |
| Diluted NI Availto Com Stockholders | 199.66 | 128.30 | 54.20 | 148.40 |
| Minority Interests | -0.02 | 0 | 0 | 0 |
| Net Income Including Noncontrolling Interests | 199.68 | 128.30 | 54.20 | 148.40 |
| Net Income Discontinuous Operations | -2.21 | -2.50 | -2.10 | -0.90 |
| Net Income Continuous Operations | 201.89 | 130.80 | 56.30 | 149.30 |
| Other Income Expense | 5.01 | -28.70 | -32.30 | -21.70 |
| Other Non Operating Income Expenses | 11.82 | -1.70 | -2 | -9.20 |
| Special Income Charges | -6.81 | -27 | -30.30 | -12.50 |
| Other Special Charges | 0 | 0.50 | 2.20 | 4.40 |
| Write Off | 0 | 1.40 | 0 | 1.80 |
| Restructuring And Mergern Acquisition | 6.81 | 25.10 | 28.10 | 6.30 |
| Net Non Operating Interest Income Expense | -3.18 | 10.60 | 17.70 | 9.90 |
| Total Other Finance Cost | 0 | 1.30 | 3.20 | 3.10 |
| Interest Expense Non Operating | 7.33 | 15.20 | 22 | 13.60 |
| Interest Income Non Operating | 4.15 | 27.10 | 42.90 | 26.60 |
| Depreciation Amortization Depletion Income Statement | 26.11 | 28.30 | 26 | 22.10 |
| Depreciation And Amortization In Income Statement | 26.11 | 28.30 | 26 | 22.10 |
| Amortization | 26.11 | 28.30 | 26 | 22.10 |
| Amortization Of Intangibles Income Statement | 26.11 | 28.30 | 26 | 22.10 |
| Operating Revenue | 1,845.42 | 1,655.80 | 1,482 | 1,798.80 |
Industrials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Advanced Energy Industries, Inc.this co. | AEIS | $13.7B | 93.38↑ premium | 10.02 | 10.9% | 52.94 |
| Sterling Infrastructure, Inc. | STRL | $14.4B | 50.03 | 13.00 | 26.2% | 29.25 |
| Planet Labs PBC | PL | $11.8B | - | 60.64 | -131.0% | -258.32 |
| Dycom Industries, Inc. | DY | $11.7B | 40.83 | 6.29 | 15.1% | 19.58 |
| IES Holdings, Inc. | IESC |
| $11.4B |
| 34.01 |
| 11.86 |
| 34.5% |
| 24.57 |
| Kratos Defense & Security Solutions, Inc. | KTOS | $11.2B | 458.15 | 5.04 | 1.1% | 130.08 |
| SPX Technologies, Inc. | SPXC | $10.6B | 41.85 | 4.71 | 10.9% | 23.01 |
| Chart Industries, Inc. | GTLS | $10.0B | 630.00 | 3.08 | 1.2% | 14.27 |
| Watts Water Technologies, Inc. | WTS | $9.9B | 29.23 | 4.89 | 16.8% | 18.53 |
| Peer Median | - | 41.85 | 5.67 | 13.0% | 21.30 | |