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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 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,845.42 | 1,655.80 | 1,482 | 1,798.80 |
| Operating 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 |
| Research And Development | - | 191.02 | 202.40 | 211.80 | 232.40 |
| Selling General And Administration | - | 218.46 | 221 | 224.60 | 242.40 |
| Total Expenses | - | 1,605.51 | 1,515.10 | 1,415.10 | 1,618.30 |
| Operating Income | - | 239.91 | 140.70 | 66.90 | 180.50 |
| Total Operating Income As Reported | - | 233.10 | 113.70 | 36.60 | 168 |
| EBITDA | - | 309.36 | 204.20 | 142.90 | 244.30 |
| Normalized EBITDA | - | 316.18 | 231.20 | 173.20 | 256.80 |
| EBIT | - | 249.07 | 137.70 | 74.40 | 182.30 |
| Interest Income | - | 4.15 | 27.10 | 42.90 | 26.60 |
| Interest Expense | - | 7.32 | 15.20 | 22 | 13.60 |
| Net Interest Income | - | -3.18 | 10.60 | 17.70 | 9.90 |
| Other Non Operating Income Expenses | - | 11.82 | -1.70 | -2 | -9.20 |
| Other Income Expense | - | 5.01 | -28.70 | -32.30 | -21.70 |
| Interest Income Non Operating | - | 4.15 | 27.10 | 42.90 | 26.60 |
| Interest Expense Non Operating | - | 7.32 | 15.20 | 22 | 13.60 |
| Net Non Operating Interest Income Expense | - | -3.18 | 10.60 | 17.70 | 9.90 |
| Pretax Income | - | 241.74 | 122.50 | 52.40 | 168.70 |
| Tax Provision | - | 39.85 | -8.30 | -3.90 | 19.40 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -1.12 | -5.67 | -6.36 | -1.44 |
| Net Income Continuous Operations | - | 201.89 | 130.80 | 56.30 | 149.30 |
| Net Income From Continuing And Discontinued Operation | - | 199.66 | 128.30 | 54.20 | 148.40 |
| Net Income From Continuing Operation Net Minority Interest | - | 201.88 | 130.80 | 56.30 | 149.30 |
| Net Income | - | 199.66 | 128.30 | 54.20 | 148.40 |
| Net Income Common Stockholders | - | 199.66 | 128.30 | 54.20 | 148.40 |
| Net Income Including Noncontrolling Interests | - | 199.68 | 128.30 | 54.20 | 148.40 |
| Normalized Income | - | 207.56 | 152.13 | 80.24 | 160.36 |
| Diluted NI Availto Com Stockholders | - | 199.66 | 128.30 | 54.20 | 148.40 |
| Basic Average Shares | - | 37.46 | 37.58 | 37.48 | 37.60 |
| Diluted Average Shares | - | 37.72 | 37.85 | 37.84 | 38.60 |
| Reconciled Depreciation | - | 60.30 | 66.50 | 68.50 | 62 |
| Reconciled Cost Of Revenue | - | 1,135.73 | 1,025.20 | 910.20 | 1,081.50 |
| Total Unusual Items | - | -6.81 | -27 | -30.30 | -12.50 |
| Total Unusual Items Excluding Goodwill | - | -6.81 | -27 | -30.30 | -12.50 |
| Minority Interests | -0.04 | -0.02 | 0 | 0 | - |
| Net Income Discontinuous Operations | - | -2.22 | -2.50 | -2.10 | -0.90 |
| Special Income Charges | - | -6.81 | -27 | -30.30 | -12.50 |
| Other Special Charges | - | - | 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 |
| 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 |
| Total Other Finance Cost | - | - | 1.30 | 3.20 | 3.10 |
| Amortization | - | 26.11 | 28.30 | 26 | 22.10 |
| Amortization Of Intangibles Income Statement | - | 26.11 | 28.30 | 26 | 22.10 |
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 | $12.8B | 86.52↑ premium | 9.42 | 10.9% | 52.10 |
| IES Holdings, Inc. | IESC | $14.8B | 48.32 | 16.73 | 34.6% | 33.35 |
| Dycom Industries, Inc. | DY | $14.7B | 52.18 | 7.89 | 15.1% | 24.09 |
| Legence Corp. | LGN | $14.6B | -244.26 | 20.78 | -8.5% | 96.52 |
| Kratos Defense & Security Solutions, Inc. |
| 2021 |
| - |
| - |
| - |
| - |
| - |
| - |
| - |
| KTOS |
| $11.9B |
| 540.40 |
| 5.96 |
| 1.1% |
| 111.51 |
| SPX Technologies, Inc. | SPXC | $11.8B | 48.45 | 5.28 | 10.9% | 24.67 |
| Joby Aviation, Inc. | JOBY | $11.0B | -11.78 | 7.77 | -66.0% | -15.83 |
| Watts Water Technologies, Inc. | WTS | $10.5B | 30.87 | 5.19 | 16.8% | 20.02 |
| AeroVironment, Inc. | AVAV | $10.3B | 237.14 | 11.67 | 4.9% | 125.13 |
| Peer Median | - | 48.39 | 7.83 | 7.9% | 29.01 | |