10 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 4.9% per year over the past 5 years.
Net income has grown slower than revenue (2.0% vs 4.9% per year).
Operating margin has contracted, at 9.3% in the latest year.
Free cash flow has declined 5.3% per year over the past 5 years.
Financial health
The company holds more cash ($791M) than total debt ($568M).
Total debt has grown faster than revenue (12.0% vs 4.9% per year).
Operating income covered interest expense 10× in the latest year.
Total debt is 2.5× EBITDA.
Shareholder returns
Dividends have been paid for 5 consecutive years, consuming 10.5% of earnings and 12.4% of free cash flow.
The dividend has grown 0.3% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
2025
$1.8B
$148M
37.7%
9.3%
10.9%
5.8%
$126M
$568M
$791M
2024
$1.5B
$54M
35.7%
2.5%
4.5%
2.4%
$74M
$565M
$722M
2023
$1.7B
$128M
35.8%
6.9%
11.2%
5.0%
$148M
$916M
$1.0B
2022
$1.8B
$200M
36.6%
12.6%
18.7%
10.0%
$125M
$373M
$459M
2021
$1.5B
$135M
36.6%
10.4%
15.5%
7.4%
$111M
$393M
$544M
2020
$1.4B
$135M
38.3%
12.4%
16.5%
8.2%
$165M
$322M
$480M
2019
$789M
$65M
40.0%
6.9%
9.6%
4.2%
$23M
$339M
$346M
2018
$719M
$147M
50.9%
23.9%
24.2%
18.0%
$131M
—
$349M
2017
$671M
$138M
53.1%
29.9%
26.5%
18.8%
$174M
—
$407M
2016
$484M
$127M
52.3%
26.2%
32.5%
22.3%
$112M
—
$282M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
Sep '26
$696M
$116M
41.5%
20.6%
7.3%
3.2%
$34M
$1.3B
$1.4B
Jun '26
$574M
$54M
41.1%
16.6%
3.7%
1.6%
$36M
$1.3B
$1.4B
Mar '26
$511M
$67M
39.3%
13.4%
4.8%
2.6%
-$43M
$568M
$700M
Dec '25
$489M
$52M
38.6%
11.6%
3.8%
2.1%
$43M
$568M
$791M
Sep '25
$463M
$46M
37.6%
10.6%
3.5%
1.9%
$51M
$567M
$759M
Jun '25
$442M
$25M
37.0%
7.2%
2.0%
1.1%
$17M
$566M
$714M
Mar '25
$405M
$25M
37.2%
7.6%
2.0%
1.1%
$15M
$565M
$723M
Dec '24
$415M
$49M
37.2%
8.1%
4.1%
2.2%
$70M
$565M
$722M
Sep '24
$374M
-$15M
35.8%
-2.9%
-1.3%
-0.7%
$22M
$564M
$657M
Jun '24
$365M
$15M
35.0%
3.5%
1.3%
0.6%
-$8M
$907M
$986M
Mar '24
$328M
$5M
34.5%
0.3%
0.5%
0.2%
-$9M
$911M
$1.0B
Dec '23
$405M
$38M
35.3%
3.4%
3.3%
1.5%
$70M
$916M
$1.0B
Sep '23
$410M
$33M
35.9%
7.3%
3.0%
1.3%
$59M
$920M
$986M
Jun '23
$416M
$27M
35.4%
7.2%
2.4%
1.4%
$5M
$364M
$455M
Mar '23
$425M
$31M
36.5%
9.4%
2.8%
1.5%
$14M
$368M
$462M
Dec '22
$491M
$44M
36.2%
11.8%
4.1%
2.2%
$51M
$373M
$459M
Sep '22
$516M
$74M
37.0%
15.0%
7.5%
3.8%
$51M
$378M
$409M
Jun '22
$441M
$45M
36.8%
12.0%
4.9%
2.4%
$25M
$383M
$373M
Mar '22
$397M
$37M
36.3%
11.2%
4.1%
2.0%
-$3M
$388M
$521M
Dec '21
$397M
$40M
35.2%
10.6%
4.6%
2.2%
$27M
$393M
$544M
Valuation over time
How the market has priced AEIS against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has risen from 19.9× (Mar '23) to 65.0× (Nov '26).
The price-to-sales ratio has risen from 2.1× (Mar '23) to 5.4× (Nov '26).
The dividend yield has fallen from 0.4% (Mar '23) to 0.2% (Nov '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is AEIS growing its revenue and profit?
Over the past 5 years, Advanced Energy Industries's revenue has grown 4.9% per year, and net income grown 2.0% per year. These are computed facts, not advice.
How much debt does AEIS have?
As of FY2025, Advanced Energy Industries reported $568M of total debt against $791M of cash; operating income covered interest expense 10×.
What is AEIS's profit margin?
In FY2025, gross margin was 37.7%, operating margin 9.3%, and net margin 8.2%.
What is AEIS's P/E ratio?
Advanced Energy Industries's P/E (TTM) is 33.40 as of the 2026-11-03 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the AEIS stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 65.0× as of Nov '26) can differ. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.