Tearsheet

Advanced Energy Industries (AEIS)

Market Price (6/28/2026): $351.01 | Market Cap: $13.2 BilSector: Information Technology | Industry: Semiconductor Materials & Equipment

Advanced Energy Industries (AEIS)

Market Price (6/28/2026): $351.01
Market Cap: $13.2 Bil
Sector: Information Technology
Industry: Semiconductor Materials & Equipment

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 10%

Megatrend and thematic drivers
Megatrends include Artificial Intelligence, and Automation & Robotics. Themes include AI Chips, Data Centers & Infrastructure, Show more.

Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 59x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 66x, P/EPrice/Earnings or Price/(Net Income) is 69x

Stock price has recently run up significantly
12M Rtn12 month market price return is 164%

Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 57%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.7%

Key risks
AEIS key risks include [1] a significant customer concentration, Show more.

0	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 10%
1	Megatrend and thematic drivers Megatrends include Artificial Intelligence, and Automation & Robotics. Themes include AI Chips, Data Centers & Infrastructure, Show more.
2	Expensive valuation multiples P/EBITPrice/EBIT or Price/(Operating Income) ratio is 59x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 66x, P/EPrice/Earnings or Price/(Net Income) is 69x
3	Stock price has recently run up significantly 12M Rtn12 month market price return is 164%
4	Valuation getting more expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 57%
5	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.7%
6	Key risks AEIS key risks include [1] a significant customer concentration, Show more.

AEIS in ETFs

Weight = AEIS's share of each fund

VTI0.02%

ITOT0.02%

IWM0.39%

IJH0.38%

VB0.14%

IJK0.74%

MDYG0.74%

IWO0.74%

+14 more covered ETFs

Valuation & Metrics

FYE: 12/31	Forward FYE		Now	Historical (CYE & TTM)
	2027	2026	6/28/26	2025	2024	2023	2022
Share Price			$351.01	$209.37	$115.63	$108.92	$85.78
Mkt Cap ($ Bil)			13.2	7.9	4.3	4.1	3.2
+ Debt ($ Bil)			0.7	0.7	0.7	1.0	0.5
- Cash ($ Bil)			0.7	0.8	0.7	1.0	0.5
TEV ($ Bil)			13.2	8.6	5.0	5.1	3.7
Valuation Ratios
P/S	5.1	5.9	6.9	4.4	2.9	2.5	1.7
P/EBIT	52.8	61.8	59.5	43.2	58.3	29.6	12.9
P/E	30.8	37.0	69.5	53.0	80.0	31.7	16.1
P/FCF	—	—	193.7	62.5	58.6	27.5	25.7
Sector Ratios (* = sector average)
P/S *			3.4	3.4	3.5	3.0	2.5
P/EBIT *			5.6	4.1	2.0	-0.0	-0.2
P/E *			0.6	-0.0	-0.3	-0.3	-0.5
P/FCF *			10.5	11.3	14.8	12.8	8.5

FYE: 12/31	Forward FYE		Now
	2027	2026	6/28/26
Share Price			$351.01
Mkt Cap ($ Bil)			13.2
+ Debt ($ Bil)			0.7
- Cash ($ Bil)			0.7
TEV ($ Bil)			13.2
Valuation Ratios
P/S	5.1	5.9	6.9
P/EBIT	52.8	61.8	59.5
P/E	30.8	37.0	69.5
P/FCF	—	—	193.7
Sector Ratios (* = sector average)
P/S *			3.4
P/EBIT *			5.6
P/E *			0.6
P/FCF *			10.5

FYE: 12/31	AEIS [1]	S&P 500 [2]
REVENUE GROWTH
LTM Revenue [3]	$1.9 Bil	—
FY 2026 Sales	$2.2 Bil	—
FY 2027 Sales	$2.6 Bil	—
FY 2026 Sales Growth	17.3%	—
FY 2027 Sales Growth	17.1%	8.1%
EARNINGS
LTM Net Income (GAAP) [3]	$190.5 Mil	—
FY 2026 Net Income (Non-GAAP)	$357.5 Mil	—
FY 2027 Net Income (Non-GAAP)	$429.0 Mil	—
FY 2027 Net Income Growth	20.0%	15.2%
FY 2026 EPS (Non-GAAP)	$9.33	—
FY 2027 EPS (Non-GAAP)	$11.78	—
FY 2027 EPS Growth	26.2%	—
VALUATION
FY 2026 P/S	5.9	3.3
FY 2027 P/S	5.1	—
FY 2026 P/E	37.0	20.3
FY 2027 P/E	30.8	—

[1] AEIS forward figures are analyst consensus for the next two fiscal years (fiscal year end 12/31). Net Income and EPS are non-GAAP (adjusted) consensus. P/S and P/E divide the current market cap by the consensus figure.
[2] S&P 500 figures are the SPY ETF's holdings-weighted forward aggregate. P/S and P/E reflect FY1/FY2 consensus blended to the 12-month window ending 6/30/27 (~one year forward), shown when ≥90% of index weight has estimates. Growth is the aggregate next-fiscal-year vs current-fiscal-year (FY1→FY2) change. Index-level dollar Sales, Net Income and EPS are not applicable.
[3] LTM = reported trailing-twelve-month actuals (GAAP).

	AEIS	S&P 500
REVENUE GROWTH	GOOD
Rev LTM ($ Bil)	1.9
Rev Chg Q	26.3%	8.8%
Rev Chg LTM	22.2%	7.5%
Rev Chg 3Y Avg	1.8%	5.9%
PROFITABILITY	FAIR
Op Inc LTM ($ Bil)	0.2
CFO LTM ($ Bil)	0.2
Net Inc LTM ($ Bil)	0.2
Op Mgn LTM	11.5%	18.4%
CFO/Rev LTM	10.4%	21.4%
Net Inc Mgn	10.0%	13.0%
VALUATION	VERY HIGH
P/S	6.9	3.3
P/CFO	66.7	15.3
P/FCF	193.7	19.8
P/E	69.5	24.6
STABILITY	VERY GOOD
Debt/Equity	0.05	0.20
Cash/Assets	0.27	0.07

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Metric	Value	Date	Source
Backlog	$406.8 million	12312023	Link
Global Market Share in Semiconductor Manufacturing	15.3%	12312023	Link
Design Wins	Secured important design wins in aerospace and defense and in several medical applications.	11042025	Link
Patents Granted	4 new patents granted in 2025	8192025	Link

Price Chart

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Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 6/26/2026

Advanced Energy Industries (AEIS) stock has gained about 5% since 2/28/2026 because of the following key factors:

1. Advanced Energy Industries reported robust financial results for its fiscal first quarter ended March 31, 2026, exceeding market expectations and providing an optimistic outlook for the remainder of the year. The company announced earnings per share of $2.09, surpassing the consensus estimate of $1.97 by $0.12, representing a 6.09% positive surprise. Revenue for the quarter reached $511 million, exceeding analysts' expectations of $505.81 million and demonstrating a significant 26.3% year-over-year growth. This strong performance was underpinned by record data center computing results and a rebound in semiconductor demand. Following these results, Advanced Energy Industries raised its full-year 2026 revenue growth target to the low- to mid-20% range and increased its data center full-year revenue growth target to the mid-30% range.

2. The company benefited from increased analyst confidence, leading to multiple upgrades in ratings and price targets throughout the period. Wall Street analysts maintained a consensus "Moderate Buy" or "Buy" rating on the stock. Notably, Cantor Fitzgerald initiated coverage with an "Overweight" rating and a $400 price target on June 11, 2026, citing Advanced Energy's exposure to semiconductor equipment cycles, data center power demand, and an industrial recovery. Furthermore, Bank of America raised its price target to $450 from $430 on June 23, 2026, while maintaining a "Buy" rating. The median analyst price target for AEIS stood at $400 as of June 25, 2026, suggesting an 11.2% potential upside from its trading price at that time.

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Stock Movement Drivers

Fundamental Drivers

The 3.8% change in AEIS stock from 2/28/2026 to 6/27/2026 was primarily driven by a 21.2% change in the company's Net Income Margin (%).

(LTM values as of)	2282026	6272026	Change
Stock Price ($)	335.47	348.11	3.8%
Change Contribution By:
Total Revenues ($ Mil)	1,799	1,905	5.9%
Net Income Margin (%)	8.2%	10.0%	21.2%
P/E Multiple	85.0	68.9	-18.9%
Shares Outstanding (Mil)	38	38	-0.3%
Cumulative Contribution			3.8%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 6/27/2026

	Return	Correlation
AEIS	3.8%
Market (SPY)	6.6%	58.5%
Sector (XLK)	30.7%	59.1%

Fundamental Drivers

The 64.9% change in AEIS stock from 11/30/2025 to 6/27/2026 was primarily driven by a 25.9% change in the company's P/E Multiple.

(LTM values as of)	11302025	6272026	Change
Stock Price ($)	211.06	348.11	64.9%
Change Contribution By:
Total Revenues ($ Mil)	1,725	1,905	10.5%
Net Income Margin (%)	8.4%	10.0%	18.9%
P/E Multiple	54.7	68.9	25.9%
Shares Outstanding (Mil)	38	38	-0.3%
Cumulative Contribution			64.9%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 6/27/2026

	Return	Correlation
AEIS	64.9%
Market (SPY)	7.3%	54.4%
Sector (XLK)	26.9%	55.8%

Fundamental Drivers

The 203.8% change in AEIS stock from 5/31/2025 to 6/27/2026 was primarily driven by a 112.1% change in the company's Net Income Margin (%).

(LTM values as of)	5312025	6272026	Change
Stock Price ($)	114.58	348.11	203.8%
Change Contribution By:
Total Revenues ($ Mil)	1,559	1,905	22.2%
Net Income Margin (%)	4.7%	10.0%	112.1%
P/E Multiple	58.6	68.9	17.5%
Shares Outstanding (Mil)	38	38	-0.3%
Cumulative Contribution			203.8%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2025 to 6/27/2026

	Return	Correlation
AEIS	203.8%
Market (SPY)	25.1%	56.7%
Sector (XLK)	57.8%	58.3%

Fundamental Drivers

The 257.9% change in AEIS stock from 5/31/2023 to 6/27/2026 was primarily driven by a 266.3% change in the company's P/E Multiple.

(LTM values as of)	5312023	6272026	Change
Stock Price ($)	97.27	348.11	257.9%
Change Contribution By:
Total Revenues ($ Mil)	1,873	1,905	1.7%
Net Income Margin (%)	10.3%	10.0%	-3.4%
P/E Multiple	18.8	68.9	266.3%
Shares Outstanding (Mil)	37	38	-0.6%
Cumulative Contribution			257.9%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2023 to 6/27/2026

	Return	Correlation
AEIS	257.9%
Market (SPY)	81.3%	65.0%
Sector (XLK)	125.1%	66.2%

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
AEIS Return	-6%	-5%	27%	7%	82%	79%	295%
Peers Return	49%	-29%	51%	3%	72%	117%	515%
S&P 500 Return	27%	-19%	24%	23%	16%	7%	96%
Monthly Win Rates [3]
AEIS Win Rate	58%	50%	67%	58%	75%	67%
Peers Win Rate	67%	35%	62%	47%	63%	80%
S&P 500 Win Rate	75%	42%	67%	75%	67%	50%
Max Drawdowns [4]
AEIS Max Drawdown	-33%	-28%	-33%	-22%	-40%	-24%
Peers Max Drawdown	-19%	-48%	-21%	-31%	-33%	-19%
S&P 500 Max Drawdown	-5%	-25%	-10%	-8%	-19%	-9%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: MKSI, AME, LRCX, AMAT, KLAC. See AEIS Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/26/2026 (YTD)

Event	AEIS	S&P 500
2025 US Tariff Shock
% Loss	-39.9%	-18.8%
% Gain to Breakeven	66.3%	23.1%
Time to Breakeven	81 days	79 days
2024 Yen Carry Trade Unwind
% Loss	-13.9%	-7.8%
% Gain to Breakeven	16.1%	8.5%
Time to Breakeven	68 days	18 days
Summer-Fall 2023 Five Percent Yield Shock
% Loss	-28.0%	-9.5%
% Gain to Breakeven	38.9%	10.5%
Time to Breakeven	258 days	24 days
2023 SVB Regional Banking Crisis
% Loss	-12.1%	-6.7%
% Gain to Breakeven	13.7%	7.1%
Time to Breakeven	29 days	31 days
2022 Inflation Shock & Fed Tightening
% Loss	-25.1%	-24.5%
% Gain to Breakeven	33.6%	32.4%
Time to Breakeven	48 days	427 days
2020 COVID-19 Crash
% Loss	-50.0%	-33.7%
% Gain to Breakeven	100.0%	50.9%
Time to Breakeven	79 days	140 days

Compare to MKSI, AME, LRCX, AMAT, KLAC

In The Past

Advanced Energy Industries's stock fell -39.9% during the 2025 US Tariff Shock. Such a loss loss requires a 66.3% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

Event	AEIS	S&P 500
2025 US Tariff Shock
% Loss	-39.9%	-18.8%
% Gain to Breakeven	66.3%	23.1%
Time to Breakeven	81 days	79 days
Summer-Fall 2023 Five Percent Yield Shock
% Loss	-28.0%	-9.5%
% Gain to Breakeven	38.9%	10.5%
Time to Breakeven	258 days	24 days
2022 Inflation Shock & Fed Tightening
% Loss	-25.1%	-24.5%
% Gain to Breakeven	33.6%	32.4%
Time to Breakeven	48 days	427 days
2020 COVID-19 Crash
% Loss	-50.0%	-33.7%
% Gain to Breakeven	100.0%	50.9%
Time to Breakeven	79 days	140 days
Q4 2018 Fed Policy Error / Growth Scare
% Loss	-26.0%	-19.2%
% Gain to Breakeven	35.2%	23.8%
Time to Breakeven	42 days	105 days
2011 US Debt Ceiling Crisis & European Contagion
% Loss	-35.6%	-17.9%
% Gain to Breakeven	55.3%	21.8%
Time to Breakeven	142 days	123 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
% Loss	-28.4%	-15.4%
% Gain to Breakeven	39.7%	18.2%
Time to Breakeven	58 days	125 days
2008-2009 Global Financial Crisis
% Loss	-57.8%	-53.4%
% Gain to Breakeven	136.8%	114.4%
Time to Breakeven	193 days	1085 days
Summer 2007 Credit Crunch
% Loss	-39.4%	-8.6%
% Gain to Breakeven	65.0%	9.5%
Time to Breakeven	2280 days	47 days

Compare to MKSI, AME, LRCX, AMAT, KLAC

In The Past

Advanced Energy Industries's stock fell -39.9% during the 2025 US Tariff Shock. Such a loss loss requires a 66.3% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Advanced Energy Industries (AEIS)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Advanced Energy Industries (AEIS) specializes in designing, manufacturing, and supporting precision power conversion, measurement, and control solutions. The company provides highly engineered electrical power components and systems that are crucial for various high-tech industrial and scientific processes requiring extremely accurate power delivery and regulation.

AEIS offers a broad product portfolio, including plasma power solutions like direct current (DC) and radio frequency (RF) power supplies, RF matching networks, and remote plasma sources vital for reactive gas applications. They also develop power control modules and thermal instrumentation used in rapid thermal processing, chemical vapor deposition, and other industrial heating applications for materials like metal, carbon fiber, and glass. Additionally, AEIS provides high-voltage DC-DC products for semiconductor wafer processing and scientific instrumentation, and low-voltage DC-DC board-mounted solutions for healthcare, telecommunications, and server systems. Gas sensing and embedded power products further diversify their offerings, alongside equipment conversions, upgrades, and repair services.

Advanced Energy Industries primarily serves customers in demanding markets such as semiconductor manufacturing, where their products are essential for wafer processing and epitaxy. Other key markets include industrial manufacturing (e.g., metal, glass, carbon fiber), healthcare (medical equipment, X-ray systems), telecommunications, and scientific instrumentation. Their solutions enable critical applications ranging from mass spectrometry and air quality monitoring to distributed power in data centers, ensuring precise control for complex operations globally.

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Here are 1-3 brief analogies to describe Advanced Energy Industries (AEIS):

Keysight Technologies for precision power and control.
Corning for precision power and control systems.
Parker Hannifin for precision electrical power and control.

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Plasma Power Solutions: Offers a range of power supplies, matching networks, instrumentation, and remote plasma sources for various industrial and scientific applications.
Power Control Modules & Thermal Instrumentation: Provides modules and instruments for temperature control and power management in industrial processes and manufacturing.
High Voltage DC-DC Products: Supplies high voltage power converters for specialized applications such as semiconductor processing, scientific instruments, and X-ray systems.
Low Voltage DC-DC Board Mounted Solutions: Delivers compact power solutions for diverse applications including healthcare, telecommunications, industrial equipment, and server power systems.
Gas Sensing and Monitoring Products: Manufactures products for detecting and monitoring gases in energy, air quality, and automotive emission applications.
Embedded Power Products: Provides power solutions designed to be integrated into medical and information technology equipment.
Equipment Lifecycle Services: Offers conversions, upgrades, refurbishments, and repair services for its equipment, alongside sales of used equipment.

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Major Customers of Advanced Energy Industries (AEIS)

Advanced Energy Industries (AEIS) sells primarily to other companies (Business-to-Business).

Based on the provided company description, specific names of major customer companies are not listed. However, AEIS's precision power conversion, measurement, and control solutions are integral components used by manufacturers in various high-technology and industrial sectors. Its major customers are thus manufacturers within the following broad categories, based on the applications of AEIS's products:

Semiconductor Equipment Manufacturers: Companies that produce advanced machinery and systems for semiconductor wafer processing, metrology, and electrostatic clamping, which rely on AEIS's plasma power solutions and high voltage DC-DC products.
Industrial Equipment Manufacturers: Companies specializing in equipment for rapid thermal processing, chemical vapor deposition, epitaxy, crystal growing, chemical processing, metal, carbon fiber, and glass manufacturing, as well as industrial and analytical X-ray systems, utilizing AEIS's power control modules, thermal instrumentation, and high voltage DC-DC products.
Medical Device, Telecommunications, and IT Infrastructure Manufacturers: Businesses that develop and produce medical equipment, telecommunications infrastructure, test and measurement instrumentation, and server and storage systems, incorporating AEIS's low voltage DC-DC board mounted and embedded power solutions.

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Stephen D. Kelley - President & Chief Executive Officer

Stephen D. Kelley joined Advanced Energy Industries as President and Chief Executive Officer in March 2021 and also serves as a director. He has over 30 years of global semiconductor and electronics leadership experience across strategy, technology, manufacturing, and operations. Prior to Advanced Energy, Mr. Kelley served as President and CEO of Amkor Technology, Inc., a publicly traded semiconductor package and test company, from May 2013 to June 2020, where he led a financial transformation. He was also a Senior Advisor to Advanced Technology Investment Company, which owns GlobalFoundries. His past executive leadership roles include positions at Cree, Texas Instruments, and Philips Semiconductors (now NXP Semiconductors). Mr. Kelley holds an SB in Chemical Engineering from MIT and a JD from Santa Clara University, and currently serves on the board of directors of Onto Innovations Inc.

Paul Oldham - Executive Vice President & Chief Financial Officer

Paul Oldham became Executive Vice President and Chief Financial Officer of Advanced Energy Industries in May 2018, bringing 30 years of experience in finance and administration. Before joining Advanced Energy, he was the Chief Financial Officer of Electro Scientific Industries, Inc. (ESI), a developer and manufacturer of laser-based production equipment, where he helped lead a significant multi-year transformation resulting in strong revenue growth and profitability. Prior to ESI, Mr. Oldham held several senior leadership positions at Tektronix, Inc., a test, measurement, and monitoring company, including vice president of finance and corporate controller, vice president treasurer, and investor relations and European operations controller. He holds a Bachelor of Science degree in accounting and a Master of Business Administration in accounting and finance from Brigham Young University.

Eduardo Bernal Acebedo - Executive Vice President & Chief Operations Officer

Eduardo Bernal Acebedo joined Advanced Energy Industries in September 2021 as Executive Vice President and Chief Operations Officer, based in Singapore. He has more than 30 years of experience managing global operations in the semiconductor industry, successfully leading large, complex organizations through significant growth and transformation. Before Advanced Energy, Mr. Bernal was Senior Vice President of assembly and test operations at NXP Semiconductors, overseeing a global footprint of multiple factories and a team of 12,000 employees.

Emdrem Tan - Senior Vice President High Volume Products

Emdrem Tan joined Advanced Energy Industries in June 2021, bringing over 40 years of experience in the semiconductor industry. His leadership roles have spanned sales, marketing, manufacturing, and business development across Asia and the U.S., with a track record of delivering revenue growth and market share gain, as well as developing new products. Mr. Tan previously held senior leadership positions at Amkor Technology, Inc., Diodes, Inc., and Texas Instruments. He holds a Master of Business Administration from Brunel University in London.

Rory O'Byrne - Senior Vice President & Chief People Officer

Rory O'Byrne joined Advanced Energy Industries in May 2020 as Senior Vice President and Chief People Officer. He is responsible for leading the company's global human resources and environmental, health, and safety organizations. Mr. O'Byrne leads the company's vision and strategy around people and organizational effectiveness, fostering a culture that prioritizes performance, growth, and inclusion across Advanced Energy's diverse global workforce.

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The key risks to Advanced Energy Industries (AEIS) are:

Exposure to the Cyclical Semiconductor Industry: A substantial portion of Advanced Energy Industries' business involves providing plasma power solutions, high voltage DC-DC products, and other precision power conversion and control solutions for semiconductor wafer processing and metrology. The semiconductor industry is highly cyclical and prone to significant fluctuations in demand and capital expenditure. A downturn in this industry, characterized by reduced investment from semiconductor manufacturers, could directly and materially impact AEIS's revenue and profitability.
Technological Obsolescence and Need for Continuous Innovation: Advanced Energy Industries operates in a technology-intensive sector, providing advanced power conversion, measurement, and control solutions. Rapid technological advancements in the industries they serve (e.g., semiconductor, industrial, medical) necessitate continuous research and development to offer competitive and cutting-edge products. Failure to innovate, adapt to new industry standards, or anticipate evolving customer requirements could lead to technological obsolescence, loss of market share, and decreased demand for their products.
Global Supply Chain Disruptions and Geopolitical Risks: As a company that designs, manufactures, sells, and supports its solutions worldwide, Advanced Energy Industries is exposed to global supply chain vulnerabilities. Disruptions such as component shortages, transportation delays, increased logistics costs, or geopolitical tensions (e.g., trade disputes, regional conflicts) affecting international trade or manufacturing hubs could impact their ability to produce and deliver products, leading to increased costs or delayed revenue.

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Advanced Energy Industries (AEIS) operates in several key markets with substantial addressable opportunities for its precision power conversion, measurement, and control solutions.

Plasma Power Solutions: The global plasma power supplies market was valued at approximately USD 2.31 billion in 2025 and is projected to grow to about USD 8.71 billion by 2035.
Low Voltage DC-DC Solutions: The global low-voltage DC-DC converter market size was estimated at USD 5.8 billion in 2024 and is anticipated to reach USD 13.8 billion by 2033. In 2024, the Asia Pacific region accounted for approximately USD 2.6 billion of this market, while North America's market size was estimated at USD 1.5 billion.
Gas Sensing and Monitoring Products: The global gas sensors market was valued at approximately USD 1.76 billion in 2024 and is projected to grow to about USD 4.17 billion by 2035. Specifically, the North American market for gas sensors was approximately USD 800 million in 2024, and the Asia-Pacific market was around USD 350 million.
Power Control Modules and Embedded Power (Industrial/Medical Applications):
- The global intelligent power module market was estimated at USD 3.43 billion in 2025 and is projected to reach USD 9.85 billion by 2033. For North America, this market was valued at USD 3.48 billion in 2024 and is expected to grow to USD 9.01 billion by 2033.
- The broader global power discrete and modules market was valued at USD 29.8 billion in 2024 and is estimated to reach USD 53.4 billion by 2034. Within this, the industrial segment alone was valued at USD 7.9 billion globally in 2024.
High Voltage DC-DC Products (Electric Vehicle Specific): The electric vehicle high-voltage DC-DC converter market size is estimated at USD 1.67 billion in 2025 and is expected to reach USD 3.21 billion by 2030 globally.

AI Analysis | Feedback

Advanced Energy Industries (AEIS) is expected to experience future revenue growth over the next 2-3 years, driven by several key factors:

Strong Demand in Data Center Computing: The data center computing market, particularly driven by artificial intelligence (AI) infrastructure investments and hyperscale expansion, is a significant growth engine for Advanced Energy. The company saw its data center revenue more than double in 2025 and anticipates over 30% growth in this segment for 2026. This growth is fueled by the adoption of Advanced Energy's customized power solutions for AI rack applications and new design wins.
Recovery and Growth in the Semiconductor Market: After some market choppiness, the semiconductor equipment market is projected to accelerate, especially in the second half of 2026 and into 2027. This rebound is supported by the increasing adoption of advanced semiconductor manufacturing technologies, including leading-edge logic and memory, and strong customer pull for Advanced Energy's new technology platforms like eVoS, eVerest, and NavX.
New Product Launches and Expanding Portfolio: Advanced Energy consistently introduces new products across its target markets, with 26 new products launched in 2025 alone. The revenue contribution from these recently launched products, such as the Everest, EVOS, NavX, NCF150 series, and LPP200 series, is expected to increase as they move into pilot and early production, expanding the company's market presence and share.
Expansion in Industrial and Medical Markets: Following a period of decline, the industrial and medical segments returned to year-over-year growth in Q4 2025, driven by strong bookings and design wins. The company expects continued improvement and aims to outgrow the market in 2026, leveraging new design wins in areas such as factory automation, medical imaging, electrosurgery, and defense projects.
Manufacturing Capacity Expansion: To meet growing customer demand and support future revenue ramps, Advanced Energy has significantly expanded its manufacturing footprint. This includes doubling capacity in the Philippines and Mexico, and completing a new factory in Thailand, which is projected to deliver over $1 billion in annual revenue-generating capacity once fully operational.

AI Analysis | Feedback

Share Repurchases

  In August 2021, Advanced Energy announced an increased share repurchase authorization to $200 million.
  Advanced Energy repurchased $17.0 million of common stock in the second quarter of 2022.
  The company completed a buyback plan announced in September 2015, repurchasing 32,758 shares for $6.73 million from October 1, 2025, to December 31, 2025, bringing the total under that program to $363.91 million for 6,056,924 shares.


Share Issuance

  Advanced Energy Industries' shares outstanding increased by 2.01% year-over-year in 2025, reaching 0.039 billion.
  Shares outstanding for 2024 were 0.038 billion, a 0.24% increase from 2023.


Outbound Investments

  In June 2024, Advanced Energy acquired Airity Technologies to enhance its capabilities in high-density, high-voltage power applications across semiconductor, industrial, and medical sectors.
  Advanced Energy acquired SL Power Electronics in April 2022.
  In 2021, Advanced Energy acquired Tegam for $18 million to strengthen its leadership in RF process power solutions and Versatile Power to expand its presence in the medical market.


Capital Expenditures

  Capital expenditures were approximately $58.88 million in 2022, $61 million in 2023, and an estimated $56.79 million in 2024.
  Advanced Energy expects its 2025 capital expenditure to be at the high end of its 5% to 6% of sales range, focusing on scaling manufacturing capabilities in Thailand and Mexico to add $2.5 billion in annual revenue capacity by the end of 2026.
  Purchases of property, plant, and equipment were around $37.5 million in Q4 2025.



	
		
			
				
					
					 Interactive Breakdown
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				 Better Bets vs. Advanced Energy Industries (AEIS)
				
					By Industry
					By Sector
					All Other Sectors
					Sector Best Bets
				
				
										
				
					
						INDUSTRY: Semiconductor Materials & Equipment
					
			
					
						
							Higher Rev Chg 3Y Avg | Lower P/S 
							(Values for AEIS: 1.8% | 6.9x)
						
						
				
						
							MKSI (4.3% | 6.4x)
							MKS
						
					
						
							AMBA (14.5% | 6.7x)
							Ambarella
						
					
						
							TRT (13.3% | 1.8x)
							Trio-Tech International
						
					
						
							SMTK (452.6% | 5.0x)
							SmartKem
						
					
					
						
							Higher Rev Chg 3Y Avg | Lower P/Op Inc 
							(Values for AEIS: 1.8% | 59.8x)
						
						
				
						
							AMAT (2.9% | 56.9x)
							Applied Materials
						
					
						
							KLAC (8.0% | 59.6x)
							KLA
						
					
						
							MKSI (4.3% | 44.2x)
							MKS
						
					
						
							ACMR (32.3% | 57.4x)
							ACM Research
						
					
					
						
							Higher Rev Chg LTM 
							(Value for AEIS: 22.2%)
						
						
				
						
							SEDG (39.2%)
							SolarEdge Technologies
						
					
						
							TER (30.3%)
							Teradyne
						
					
						
							AMBA (28.1%)
							Ambarella
						
					
						
							LRCX (26.5%)
							Lam Research
						
					
						
							COHU (23.1%)
							Cohu
						
					
					
						
							Higher Rev Chg 3Y Avg 
							(Value for AEIS: 1.8%)
						
						
				
						
							TER (9.2%)
							Teradyne
						
					
						
							KLAC (8.0%)
							KLA
						
					
						
							LRCX (7.5%)
							Lam Research
						
					
						
							MKSI (4.3%)
							MKS
						
					
						
							AMAT (2.9%)
							Applied Materials
						
					
					
						
							Higher Op Mgn LTM 
							(Value for AEIS: 11.5%)
						
						
				
						
							KLAC (41.7%)
							KLA
						
					
						
							LRCX (34.3%)
							Lam Research
						
					
						
							AMAT (30.1%)
							Applied Materials
						
					
						
							TER (27.2%)
							Teradyne
						
					
						
							Q (21.3%)
							Qnity Electronics
						
					
					
						
							Higher CFO/Rev LTM 
							(Value for AEIS: 10.4%)
						
						
				
						
							KLAC (33.6%)
							KLA
						
					
						
							LRCX (32.1%)
							Lam Research
						
					
						
							AMAT (27.5%)
							Applied Materials
						
					
						
							Q (24.3%)
							Qnity Electronics
						
					
						
							TER (20.5%)
							Teradyne
						
					
					
						
							Higher FCF/Rev LTM 
							(Value for AEIS: 3.6%)
						
						
				
						
							KLAC (30.6%)
							KLA
						
					
						
							LRCX (27.7%)
							Lam Research
						
					
						
							AMAT (18.4%)
							Applied Materials
						
					
						
							Q (18.1%)
							Qnity Electronics
						
					
						
							TER (14.6%)
							Teradyne
						
					
					
						
							Higher Total Yield 
							(Value for AEIS: 1.6%)
						
						
				
						
							ENPH (2.2%)
							Enphase Energy
						
					
						
							AMAT (2.0%)
							Applied Materials
						
					
						
							KLAC (1.7%)
							KLA
						
					
						
							LRCX (1.7%)
							Lam Research
						
					
						
							Q (1.6%)
							Qnity Electronics
						
					
					
				
					
						SECTOR: Information Technology
					
			
					
						
							Higher Rev Chg 3Y Avg | Lower P/S 
							(Values for AEIS: 1.8% | 6.9x)
						
						
				
						
							ORCL (10.2% | 6.7x)
							Oracle
						
					
						
							DELL (12.9% | 1.9x)
							Dell Technologies
						
					
						
							IBM (4.5% | 3.7x)
							International Business Machines
						
					
						
							QCOM (3.3% | 4.5x)
							Qualcomm
						
					
						
							CRM (10.0% | 3.2x)
							Salesforce
						
					
					
						
							Higher Rev Chg 3Y Avg | Lower P/Op Inc 
							(Values for AEIS: 1.8% | 59.8x)
						
						
				
						
							NVDA (121.7% | 28.8x)
							NVIDIA
						
					
						
							AAPL (5.6% | 28.3x)
							Apple
						
					
						
							MSFT (15.3% | 18.6x)
							Microsoft
						
					
						
							AVGO (29.3% | 52.1x)
							Broadcom
						
					
						
							MU (45.3% | 45.3x)
							Micron Technology
						
					
					
						
							Higher Rev Chg LTM 
							(Value for AEIS: 22.2%)
						
						
				
						
							MU (85.5%)
							Micron Technology
						
					
						
							NVDA (70.7%)
							NVIDIA
						
					
						
							AMD (35.0%)
							Advanced Micro Devices
						
					
						
							AVGO (32.3%)
							Broadcom
						
					
						
							LRCX (26.5%)
							Lam Research
						
					
					
						
							Higher Rev Chg 3Y Avg 
							(Value for AEIS: 1.8%)
						
						
				
						
							NVDA (121.7%)
							NVIDIA
						
					
						
							MU (45.3%)
							Micron Technology
						
					
						
							AVGO (29.3%)
							Broadcom
						
					
						
							MSFT (15.3%)
							Microsoft
						
					
						
							AAPL (5.6%)
							Apple
						
					
					
						
							Higher Op Mgn LTM 
							(Value for AEIS: 11.5%)
						
						
				
						
							NVDA (64.0%)
							NVIDIA
						
					
						
							MU (48.4%)
							Micron Technology
						
					
						
							MSFT (46.8%)
							Microsoft
						
					
						
							AVGO (44.1%)
							Broadcom
						
					
						
							AAPL (32.6%)
							Apple
						
					
					
						
							Higher CFO/Rev LTM 
							(Value for AEIS: 10.4%)
						
						
				
						
							MSFT (53.5%)
							Microsoft
						
					
						
							MU (52.7%)
							Micron Technology
						
					
						
							NVDA (49.6%)
							NVIDIA
						
					
						
							AVGO (44.6%)
							Broadcom
						
					
						
							AAPL (31.1%)
							Apple
						
					
					
						
							Higher FCF/Rev LTM 
							(Value for AEIS: 3.6%)
						
						
				
						
							NVDA (47.0%)
							NVIDIA
						
					
						
							AVGO (43.4%)
							Broadcom
						
					
						
							AAPL (28.6%)
							Apple
						
					
						
							MSFT (22.9%)
							Microsoft
						
					
						
							MU (17.7%)
							Micron Technology
						
					
					
						
							Higher Total Yield 
							(Value for AEIS: 1.6%)
						
						
				
						
							MSFT (5.5%)
							Microsoft
						
					
						
							NVDA (3.4%)
							NVIDIA
						
					
						
							AAPL (3.3%)
							Apple
						
					
						
							AVGO (2.4%)
							Broadcom
						
					
						
							MU (1.9%)
							Micron Technology
						
					
					
				
					
						All Other Sectors
					
			
					
						
							Higher Rev Chg 3Y Avg | Lower P/S 
							(Values for AEIS: 1.8% | 6.9x)
						
						
				
						
							AMZN (12.3% | 3.4x)
							Amazon.com
						
					
						
							META (22.4% | 6.5x)
							Meta Platforms
						
					
						
							BRK-B (15.3% | 2.6x)
							Berkshire Hathaway
						
					
						
							WMT (5.3% | 1.3x)
							Walmart
						
					
						
							JPM (11.4% | 4.8x)
							JPMorgan Chase
						
					
					
						
							Higher Rev Chg 3Y Avg | Lower P/Op Inc 
							(Values for AEIS: 1.8% | 59.8x)
						
						
				
						
							GOOGL (14.1% | 29.6x)
							Alphabet
						
					
						
							AMZN (12.3% | 29.3x)
							Amazon.com
						
					
						
							META (22.4% | 15.7x)
							Meta Platforms
						
					
						
							LLY (37.9% | 31.6x)
							Eli Lilly
						
					
						
							WMT (5.3% | 30.5x)
							Walmart
						
					
					
						
							Higher Rev Chg LTM 
							(Value for AEIS: 22.2%)
						
						
				
						
							LLY (47.4%)
							Eli Lilly
						
					
						
							WELL (37.7%)
							Welltower
						
					
						
							BA (32.7%)
							Boeing
						
					
						
							META (26.2%)
							Meta Platforms
						
					
						
							BLK (22.3%)
							BlackRock
						
					
					
						
							Higher Rev Chg 3Y Avg 
							(Value for AEIS: 1.8%)
						
						
				
						
							LLY (37.9%)
							Eli Lilly
						
					
						
							META (22.4%)
							Meta Platforms
						
					
						
							GOOGL (14.1%)
							Alphabet
						
					
						
							AMZN (12.3%)
							Amazon.com
						
					
						
							TSLA (4.5%)
							Tesla
						
					
					
						
							Higher Op Mgn LTM 
							(Value for AEIS: 11.5%)
						
						
				
						
							V (67.1%)
							Visa
						
					
						
							LLY (47.3%)
							Eli Lilly
						
					
						
							META (41.2%)
							Meta Platforms
						
					
						
							GOOGL (32.7%)
							Alphabet
						
					
						
							JNJ (26.8%)
							Johnson & Johnson
						
					
					
						
							Higher CFO/Rev LTM 
							(Value for AEIS: 10.4%)
						
						
				
						
							META (57.7%)
							Meta Platforms
						
					
						
							GOOGL (41.3%)
							Alphabet
						
					
						
							LLY (28.3%)
							Eli Lilly
						
					
						
							AMZN (20.0%)
							Amazon.com
						
					
						
							TSLA (16.9%)
							Tesla
						
					
					
						
							Higher FCF/Rev LTM 
							(Value for AEIS: 3.6%)
						
						
				
						
							META (22.4%)
							Meta Platforms
						
					
						
							GOOGL (15.2%)
							Alphabet
						
					
						
							LLY (14.4%)
							Eli Lilly
						
					
						
							TSLA (7.2%)
							Tesla
						
					
						
							BRK-B (5.7%)
							Berkshire Hathaway
						
					
					
						
							Higher Total Yield 
							(Value for AEIS: 1.6%)
						
						
				
						
							BRK-B (6.7%)
							Berkshire Hathaway
						
					
						
							META (5.4%)
							Meta Platforms
						
					
						
							GOOGL (4.2%)
							Alphabet
						
					
						
							AMZN (3.6%)
							Amazon.com
						
					
						
							LLY (2.9%)
							Eli Lilly
						
					
					
				
					
						Best Bets in Information Technology
					
			What You Pay
					
						
							P/EBIT 
							(Value for AEIS: 59.0x)
						
						
				
						
							APP (33.6x)
							AppLovin
						
					
						
							VRSN (20.1x)
							VeriSign
						
					
						
							NVDA (24.6x)
							NVIDIA
						
					
						
							QLYS (19.0x)
							Qualys
						
					
						
							ADEA (17.5x)
							Adeia
						
					
						
							IDCC (15.6x)
							InterDigital
						
					
						
							GEN (7.1x)
							Gen Digital
						
					
						
							ADBE (8.7x)
							Adobe
						
					
						
							FICO (24.4x)
							Fair Isaac
						
					
						
							PTC (8.3x)
							PTC
						
					
					
						
							P/E 
							(Value for AEIS: 68.9x)
						
						
				
						
							APP (40.6x)
							AppLovin
						
					
						
							VRSN (27.8x)
							VeriSign
						
					
						
							NVDA (29.3x)
							NVIDIA
						
					
						
							QLYS (21.8x)
							Qualys
						
					
						
							ADEA (27.7x)
							Adeia
						
					
						
							IDCC (19.4x)
							InterDigital
						
					
						
							GEN (15.2x)
							Gen Digital
						
					
						
							ADBE (11.3x)
							Adobe
						
					
						
							FICO (36.8x)
							Fair Isaac
						
					
						
							PTC (11.0x)
							PTC
						
					
What You Get
					
						
							Rev Chg 3Y Avg 
							(Value for AEIS: 1.8%)
						
						
				
						
							APP (37.0%)
							AppLovin
						
					
						
							VRSN (5.3%)
							VeriSign
						
					
						
							NVDA (121.7%)
							NVIDIA
						
					
						
							QLYS (10.6%)
							Qualys
						
					
						
							ADEA (4.4%)
							Adeia
						
					
						
							IDCC (14.8%)
							InterDigital
						
					
						
							GEN (15.1%)
							Gen Digital
						
					
						
							ADBE (11.0%)
							Adobe
						
					
						
							FICO (16.7%)
							Fair Isaac
						
					
						
							PTC (15.2%)
							PTC
						
					
					
						
							Rev Chg LTM 
							(Value for AEIS: 22.2%)
						
						
				
						
							APP (66.4%)
							AppLovin
						
					
						
							VRSN (6.8%)
							VeriSign
						
					
						
							NVDA (70.7%)
							NVIDIA
						
					
						
							QLYS (10.2%)
							Qualys
						
					
						
							ADEA (21.1%)
							Adeia
						
					
						
							IDCC (1.6%)
							InterDigital
						
					
						
							GEN (27.1%)
							Gen Digital
						
					
						
							ADBE (11.5%)
							Adobe
						
					
						
							FICO (22.6%)
							Fair Isaac
						
					
						
							PTC (27.7%)
							PTC
						
					
					
						
							Rev Chg Q 
							(Value for AEIS: 26.3%)
						
						
				
						
							APP (59.0%)
							AppLovin
						
					
						
							VRSN (6.6%)
							VeriSign
						
					
						
							NVDA (85.2%)
							NVIDIA
						
					
						
							QLYS (9.8%)
							Qualys
						
					
						
							ADEA (19.5%)
							Adeia
						
					
						
							IDCC (-2.4%)
							InterDigital
						
					
						
							GEN (27.0%)
							Gen Digital
						
					
						
							ADBE (12.7%)
							Adobe
						
					
						
							FICO (38.7%)
							Fair Isaac
						
					
						
							PTC (21.7%)
							PTC
						
					
					
						
							FCF/Rev 3Y Avg 
							(Value for AEIS: 6.0%)
						
						
				
						
							APP (64.1%)
							AppLovin
						
					
						
							VRSN (57.7%)
							VeriSign
						
					
						
							NVDA (48.3%)
							NVIDIA
						
					
						
							QLYS (42.9%)
							Qualys
						
					
						
							ADEA (40.3%)
							Adeia
						
					
						
							IDCC (39.5%)
							InterDigital
						
					
						
							GEN (38.3%)
							Gen Digital
						
					
						
							ADBE (37.9%)
							Adobe
						
					
						
							FICO (34.8%)
							Fair Isaac
						
					
						
							PTC (31.5%)
							PTC
						
					
			
				[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 24%, alpha of 2.9%, and sharpe of 1.04
			
		

				
			
		
	

	
		
			
				
				 Latest Trefis Analyses
				 Title Date
0 DASHBOARDS  
1 Advanced Energy Industries Earnings Notes 05/01/2026
2 AEIS Stock (+8.2%): Analyst Upgrades Ignite Institutional Buying 01/16/2026
3 Would You Still Hold Advanced Energy Industries Stock If It Fell 30%? 10/17/2025
4 Is AEIS Stock Still the Best Pick Among Its Peers? 08/14/2025
5 AEIS's 16% One Week Pop Begs The Question: Is AMAT Better Instead? 08/14/2025
6 Advanced Energy Industries vs. Belden: Both Seem Similar Bets 07/11/2025
7 AEIS Dip Buy Analysis 07/10/2025
8 ARTICLES  
9 Mid Cap Stocks Trading At 52-Week High 05/02/2026
10 How Will Advanced Energy Industries Stock React To Its Upcoming Earnings? 05/01/2026
11 Advanced Energy (AEIS) Rises 8.2% on Semiconductor Sector Surge 04/01/2026
12 Advanced Energy (+8.1%): Citi Target Hike to $385 Spurs All-Time High 03/25/2026
13 As AEIS Surges 16% in a Week, AMAT’s Story Stands Out 08/14/2025
 Title
0 DASHBOARDS
1 Advanced Energy Industries Earnings Notes
2 AEIS Stock (+8.2%): Analyst Upgrades Ignite Institutional Buying
3 Would You Still Hold Advanced Energy Industries Stock If It Fell 30%?
4 Is AEIS Stock Still the Best Pick Among Its Peers?
5 AEIS's 16% One Week Pop Begs The Question: Is AMAT Better Instead?
6 Advanced Energy Industries vs. Belden: Both Seem Similar Bets
7 AEIS Dip Buy Analysis
8 ARTICLES
9 Mid Cap Stocks Trading At 52-Week High
10 How Will Advanced Energy Industries Stock React To Its Upcoming Earnings?
11 Advanced Energy (AEIS) Rises 8.2% on Semiconductor Sector Surge
12 Advanced Energy (+8.1%): Citi Target Hike to $385 Spurs All-Time High
13 As AEIS Surges 16% in a Week, AMAT’s Story Stands Out
			
		
	

	
		
			
				
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				 Peer Comparisons
Peers to compare with: 
				
				Financials
 AEIS MKSI AME LRCX AMAT KLAC Median
Name Advanced. MKS      AMETEK   Lam Rese. Applied . KLA       
Mkt Price 348.11 388.61 237.52 379.09 626.84 248.64 363.60
Mkt Cap 13.1 26.2 54.4 473.8 497.7 325.5 189.9
Rev LTM 1,905 4,072 7,598 21,682 29,024 13,097 10,347
Op Inc LTM 220 593 1,970 7,427 8,745 5,459 3,715
FCF LTM 68 402 1,703 6,005 5,343 4,010 2,856
FCF 3Y Avg 97 382 1,677 4,779 6,003 3,534 2,606
CFO LTM 198 557 1,836 6,955 7,993 4,402 3,119
CFO 3Y Avg 179 503 1,810 5,450 7,768 3,862 2,836
				Growth & Margins
 AEIS MKSI AME LRCX AMAT KLAC Median
Name Advanced. MKS      AMETEK   Lam Rese. Applied . KLA       
Rev Chg LTM 22.2% 11.5% 9.5% 26.5% 3.3% 13.4% 12.4%
Rev Chg 3Y Avg 1.8% 4.3% 6.5% 7.5% 2.9% 8.0% 5.4%
Rev Chg Q 26.3% 15.2% 11.3% 23.8% 11.4% 11.5% 13.3%
QoQ Delta Rev Chg LTM 5.9% 3.6% 2.7% 5.5% 2.9% 2.8% 3.2%
Op Inc Chg LTM 125.0% 11.0% 8.4% 40.5% 5.0% 17.6% 14.3%
Op Inc Chg 3Y Avg 21.6% 5.7% 8.3% 13.7% 4.0% 11.6% 10.0%
Op Mgn LTM 11.5% 14.6% 25.9% 34.3% 30.1% 41.7% 28.0%
Op Mgn 3Y Avg 8.1% 14.1% 25.9% 31.1% 29.6% 39.4% 27.7%
QoQ Delta Op Mgn LTM 1.5% 0.2% 0.1% 0.5% 0.4% -0.3% 0.3%
CFO/Rev LTM 10.4% 13.7% 24.2% 32.1% 27.5% 33.6% 25.9%
CFO/Rev 3Y Avg 10.7% 13.2% 25.6% 30.9% 27.9% 33.9% 26.7%
FCF/Rev LTM 3.6% 9.9% 22.4% 27.7% 18.4% 30.6% 20.4%
FCF/Rev 3Y Avg 6.0% 10.1% 23.7% 27.2% 21.7% 31.0% 22.7%
				Valuation
 AEIS MKSI AME LRCX AMAT KLAC Median
Name Advanced. MKS      AMETEK   Lam Rese. Applied . KLA       
Mkt Cap 13.1 26.2 54.4 473.8 497.7 325.5 189.9
P/S 6.9 6.4 7.2 21.9 17.1 24.9 12.2
P/Op Inc 59.8 44.2 27.6 63.8 56.9 59.6 58.3
P/EBIT 59.0 46.8 28.0 61.9 46.7 57.4 52.1
P/E 68.9 80.1 35.6 70.6 58.5 69.7 69.3
P/CFO 66.1 47.0 29.6 68.1 62.3 73.9 64.2
Total Yield 1.6% 1.5% 3.3% 1.7% 2.0% 1.7% 1.7%
Dividend Yield 0.1% 0.2% 0.5% 0.3% 0.3% 0.3% 0.3%
FCF Yield 3Y Avg 2.2% 4.8% 3.9% 3.3% 3.6% 3.1% 3.5%
D/E 0.1 0.2 0.0 0.0 0.0 0.0 0.0
Net D/E -0.0 0.1 0.0 -0.0 -0.0 0.0 0.0
				Returns
 AEIS MKSI AME LRCX AMAT KLAC Median
Name Advanced. MKS      AMETEK   Lam Rese. Applied . KLA       
1M Rtn 9.8% 20.3% 5.5% 19.3% 39.4% 29.0% 19.8%
3M Rtn 12.1% 74.3% 13.7% 79.4% 86.1% 72.5% 73.4%
6M Rtn 59.9% 137.1% 14.3% 113.3% 139.9% 94.8% 104.1%
12M Rtn 163.6% 289.9% 32.4% 292.2% 244.7% 181.2% 212.9%
3Y Rtn 222.3% 262.7% 52.5% 506.4% 346.0% 437.6% 304.4%
1M Excs Rtn 8.2% 20.8% 7.3% 21.2% 42.1% 29.3% 21.0%
3M Excs Rtn -2.3% 59.2% -1.1% 65.7% 71.8% 58.0% 58.6%
6M Excs Rtn 53.7% 132.5% 7.8% 110.4% 135.1% 90.0% 100.2%
12M Excs Rtn 140.9% 275.3% 13.6% 276.3% 224.2% 159.4% 191.8%
3Y Excs Rtn 161.9% 217.2% -13.8% 474.4% 301.6% 390.3% 259.4%
				Comparison Analyses
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				 FDIC Bank Data
				
					Capital & Deposits
					Assets
					Loans
				
				
										Bank Capital
nullBank Deposits
null
					Bank Assets
null
					Bank Loans
null

				
			
		
	

	
		
			
				
				 FDA Approved Drugs Data
				Expand for Morenull
				Collapse to Previewnull
			
		
	

	
		
			
				
				 Financials
				
					Annual
					Quarterly
				
									$ Mil | FY: 12/31 LTM 2025 2024 2023 2022 2021 2020
Period End 3/31/2026 12/31/2025 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020
Filing Date 5/4/2026 2/13/2026 2/18/2025 2/20/2024 2/17/2023 3/16/2022 2/24/2021

Key Financials              
Total Revenue 1,905 1,799 1,482 1,656 1,845 1,456 1,416
Gross Profit 728 677 529 592 676 532 542
EBITDA 284 244 143 204 309 205 237
Operating Income 220 180 67 141 240 156 189
Net Income 190 148 54 128 200 135 135
EPS 5.06 3.95 1.45 3.42 5.33 3.53 3.52

Growth Rates              
Total Revenue Growth 22.2% 21.4% -10.5% -10.3% 26.8% 2.8% 79.5%
EBITDA Growth 76.2% 71.0% -30.0% -34.0% 50.8% -13.4% 176.9%
Operating Income Growth 125.0% 169.8% -52.5% -41.4% 53.4% -17.3% 218.4%
Net Income Growth 159.2% 173.8% -57.8% -35.7% 48.2% 0.0% 107.4%

Margins              
Gross Margin 38.2% 37.7% 35.7% 35.8% 36.6% 36.6% 38.3%
EBITDA Margin 14.9% 13.6% 9.6% 12.3% 16.8% 14.1% 16.7%
Operating Income Margin 11.5% 10.0% 4.5% 8.5% 13.0% 10.7% 13.4%
Net Income Margin 10.0% 8.2% 3.7% 7.7% 10.8% 9.3% 9.5%

Cash & Debt              
Total Cash 700 791 722 1,045 459 547 483
Total Debt 683 679 672 1,023 484 504 435
Net Debt / (Cash) -16 -112 -50 -22 26 -43 -48

Cash Flows & CapEx              
Net Cash from Operations 198 233 131 209 184 140 201
Total CapEx -130 -107 -57 -61 -59 -29 -36
Free Cash from Operations 68 126 74 148 125 111 165

Returns to Shareholders              
Dividends 16 16 15 15 15 15 -0
Share Repurchases 30 30 2 40 27 78 12
					$ Mil | FY: 12/31 2026Q1 2025Q4 2025Q3 2025Q2 2025Q1 2024Q4 2024Q3 2024Q2 2024Q1 2023Q4 2023Q3 2023Q2
Period End 3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023
Filing Date 5/4/2026 2/13/2026 11/4/2025 8/5/2025 4/30/2025 2/18/2025 10/30/2024 7/30/2024 5/1/2024 2/20/2024 10/31/2023 8/3/2023

Key Financials Quarterly                        
Total Revenue 511 489 463 442 405 415 374 365 328 405 410 416
Ebitda 89 76 71 48 50 61 9 42 31 39 55 52
Operating Income 71 60 50 39 32 35 18 14 1 32 35 33
Net Income 67 52 46 25 25 49 -15 15 5 38 33 27
EPS 1.77 1.39 1.23 0.67 0.66 1.30 -0.40 0.39 0.14 1.01 0.87 0.72

Key Financials TTM                        
Total Revenue TTM 1,905 1,799 1,725 1,636 1,559 1,482 1,472 1,508 1,558 1,656 1,741 1,848
Ebitda TTM 284 244 230 168 161 143 121 167 177 204 254 292
Operating Income TTM 220 180 155 123 98 67 64 81 101 141 173 215
Net Income TTM 190 148 145 84 74 54 43 90 103 128 135 176

Growth Rates Quarterly                        
Total Revenue Growth 26.3% 17.8% 23.8% 21.0% 23.5% 2.5% -8.7% -12.2% -22.9% -17.4% -20.6% -5.8%
EBITDA Growth 80.6% 23.7% 686.7% 16.1% 59.2% 57.7% -83.7% -19.3% -47.1% -56.3% -40.9% -23.7%
Operating Income Growth 123.0% 73.0% 185.1% 185.9% 2790.9% 9.2% -49.7% -59.1% -97.3% -50.0% -55.2% -37.3%
Net Income Growth 170.4% 7.0% 410.1% 70.3% 357.4% 30.3% -145.5% -45.5% -82.5% -14.2% -55.9% -39.6%

Margins Quarterly                        
EBITDA Margin 17.5% 15.5% 15.3% 10.9% 12.2% 14.7% 2.4% 11.4% 9.5% 9.6% 13.4% 12.4%
Operating Income Margin 13.9% 12.3% 10.8% 8.7% 7.9% 8.4% 4.7% 3.7% 0.3% 7.9% 8.5% 7.9%
Net Income Margin 13.1% 10.7% 10.0% 5.7% 6.1% 11.8% -4.0% 4.1% 1.6% 9.3% 8.0% 6.5%

Cash & Debt                        
Total Cash 700 791 759 714 723 722 657 986 1,018 1,045 986 455
Total Debt 683 679 683 688 681 672 663 1,021 1,028 1,023 1,027 467
Net Debt / (Cash) -16 -112 -76 -26 -42 -50 5 35 11 -22 41 11

Cash Flows Quarterly                        
FCF from Operations -6 80 79 45 29 83 34 7 7 84 73 23

Cash Flows TTM                        
FCF from Operations TTM 198 233 235 191 152 131 132 170 186 209 196 188

Returns to Shareholders Quarterly                        
Dividends 4 4 4 4 4 4 4 4 4 4 4 4
Share Repurchases 0 6 -0 23 0 -0 2 -0 -0 -0 40 -0

Return on Invested Capital (ROIC) Quarterly                        
ROIC 144.0% 181.2% 122.9% 72.5% 74.8% 110.5% 36.2% 22.6% 2.1% 96.1% 72.9% 65.7%

Return on Invested Capital (ROIC) TTM                        
ROIC TTM 106.5% 130.9% 103.2% 66.2% 68.9% 53.1% 34.0% 41.1% 62.0% 106.1% 79.4% 105.8%

			
		
	

	
		
			
				
				 Segment Financials
Revenue by Segment
$ Mil 2025 2024 2023 2022 2021
Product 1,615 1,316 1,484 1,686 1,318
Services and other 184 166 172 159 138
Total 1,799 1,482 1,656 1,845 1,456


Operating Income by Segment
$ Mil 2014 2013 2012 2011
Precision Power Products 95      
Unallocated corporate assets -2      
Inverters -52      
Corporate expenses   -46 -2 -23
Solar Energy   -4 14 4
Thin Films   65 23 68
Restructuring charges     -7  
Total 40 15 27 49


Assets by Segment
$ Mil 2014 2013 2012 2011
Unallocated corporate assets 561 508 417 411
Inverters 70      
Precision Power Products 51      
Unallocated corporate property and equipment 3 1 4 1
Solar Energy   104 76 63
Thin Films   39 41 59
Total 685 653 538 533



			
		
	

	
		
			
				
				 Price Behavior
				
					Behavior Stats
					Betas Matrix
					Behavior vs Other Asset Classes
				
				
										Price Behavior
Market Price $348.11  
Market Cap ($ Bil) 13.1  
First Trading Date 11/17/1995  
Distance from 52W High -10.5%  
    50 Days 200 Days
DMA Price $347.21 $270.60
DMA Trend up indeterminate
Distance from DMA 0.3% 28.6%
  3M 1YR
Volatility 65.5% 53.7%
Downside Capture 339.18 208.23
Upside Capture 215.31 282.36
Correlation (SPY) 56.8% 56.9%
					
AEIS Betas & Captures as of 5/31/2026


  1M 2M 3M 6M 1Y 3Y
Beta 2.91 2.54 2.37 2.20 2.29 1.93
Up Beta 2.54 2.79 2.91 2.57 2.44 1.91
Down Beta 1.39 1.78 2.42 1.89 2.26 1.72
Up Capture -1% 94% 157% 319% 548% 1774%
Bmk +ve Days 13 28 36 67 141 432
Stock +ve Days 8 20 32 69 144 395
Down Capture 769% 495% 252% 172% 154% 112%
Bmk -ve Days 7 13 27 57 109 318
Stock -ve Days 12 21 31 55 106 356


[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
					
					1Y
					5Y
					10Y
				
					Based On 1-Year Data
 Annualized
Return Annualized
Volatility Sharpe
Ratio Correlation
with AEIS
AEIS 162.7% 53.5% 1.99 -
Sector ETF (XLK) 46.1% 23.5% 1.55 58.2%
Equity (SPY) 21.2% 12.4% 1.26 56.8%
Gold (GLD) 21.8% 27.7% 0.70 24.8%
Commodities (DBC) 21.8% 18.6% 0.92 -5.7%
Real Estate (VNQ) 16.1% 13.6% 0.85 17.4%
Bitcoin (BTCUSD) -44.2% 42.5% -1.25 30.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
					Based On 5-Year Data
 Annualized
Return Annualized
Volatility Sharpe
Ratio Correlation
with AEIS
AEIS 27.8% 43.6% 0.70 -
Sector ETF (XLK) 21.5% 25.3% 0.75 67.5%
Equity (SPY) 13.4% 17.1% 0.61 65.7%
Gold (GLD) 17.8% 18.3% 0.79 13.4%
Commodities (DBC) 7.4% 19.5% 0.28 11.9%
Real Estate (VNQ) 3.4% 18.9% 0.08 41.6%
Bitcoin (BTCUSD) 10.9% 54.0% 0.39 26.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
					Based On 10-Year Data
 Annualized
Return Annualized
Volatility Sharpe
Ratio Correlation
with AEIS
AEIS 25.1% 44.7% 0.66 -
Sector ETF (XLK) 25.0% 24.7% 0.91 67.4%
Equity (SPY) 15.2% 18.0% 0.72 65.9%
Gold (GLD) 11.8% 16.1% 0.60 10.1%
Commodities (DBC) 5.9% 18.0% 0.26 19.9%
Real Estate (VNQ) 5.6% 20.7% 0.23 44.0%
Bitcoin (BTCUSD) 54.7% 66.4% 0.95 19.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How


				
			
		
		
			
				
				 Short Interest
Short Interest: As Of Date 6152026
Short Interest: Shares Quantity 2.6 Mil
Short Interest: % Change Since 5312026 15.0%
Average Daily Volume 0.9 Mil
Days-to-Cover Short Interest 3.0 days
Basic Shares Quantity 37.7 Mil
Short % of Basic Shares 6.9%
			
		
	

	
		
			
				 Returns Analyses
 Title
0 Would You Still Hold Advanced Energy Industries Stock If It Fell 30%?
1 Advanced Energy Industries Stock Return Comparison
2 Advanced Energy Industries Total Shareholder Return (TSR): -5.4% in 2022 and 6.7% 3-yr returns (below peer average)
3 Advanced Energy Industries (AEIS) Stock Return: AI Predicts AEIS Average and Excess Return After a Fall or Rise
			
		
	

	
		
			
				
				
				    Earnings Returns History
				    Updated 6/4/2026
				

				Expand for More  Forward Returns
Earnings Date 1D Returns 5D Returns 21D Returns
5/4/2026 -10.7% -8.3% -16.6%
2/10/2026 10.7% 15.2% 9.6%
11/4/2025 15.8% 10.7% 12.5%
8/5/2025 0.2% 13.8% 7.6%
4/30/2025 11.2% 12.7% 17.9%
2/12/2025 11.1% 17.2% -4.4%
10/30/2024 0.7% 9.5% 6.8%
7/30/2024 7.4% -9.0% -1.6%
... 
SUMMARY STATS      
# Positive 11 14 11
# Negative 13 10 13
Median Positive 7.4% 7.6% 11.9%
Median Negative -4.5% -7.8% -3.5%
Max Positive 15.8% 17.2% 32.6%
Max Negative -12.1% -15.7% -16.6%
				Collapse to Preview  Forward Returns
Earnings Date 1D Returns 5D Returns 21D Returns
5/4/2026 -10.7% -8.3% -16.6%
2/10/2026 10.7% 15.2% 9.6%
11/4/2025 15.8% 10.7% 12.5%
8/5/2025 0.2% 13.8% 7.6%
4/30/2025 11.2% 12.7% 17.9%
2/12/2025 11.1% 17.2% -4.4%
10/30/2024 0.7% 9.5% 6.8%
7/30/2024 7.4% -9.0% -1.6%
5/1/2024 -0.5% 5.7% 11.9%
2/6/2024 -5.8% -6.2% -0.7%
10/31/2023 -3.0% 0.3% 9.0%
8/3/2023 -7.9% -7.3% -3.5%
5/3/2023 -3.9% -1.9% 13.7%
2/8/2023 -4.3% 1.2% -4.7%
11/1/2022 0.6% 3.7% 16.9%
8/3/2022 1.3% 1.3% -6.1%
5/4/2022 -4.5% -11.0% -3.1%
2/9/2022 -0.1% 4.0% -2.4%
11/8/2021 -2.5% -4.6% -1.9%
8/4/2021 -12.1% -12.9% -12.7%
5/5/2021 -9.3% -15.7% -2.3%
2/10/2021 -8.2% -3.7% -5.3%
11/5/2020 10.4% 13.5% 32.6%
8/5/2020 3.4% 4.1% 2.0%
SUMMARY STATS      
# Positive 11 14 11
# Negative 13 10 13
Median Positive 7.4% 7.6% 11.9%
Median Negative -4.5% -7.8% -3.5%
Max Positive 15.8% 17.2% 32.6%
Max Negative -12.1% -15.7% -16.6%
			
		
		
			
				
				 SEC Filings
				Expand for MoreReport Date Filing Date Filing
03/31/2026 05/04/2026 10-Q
12/31/2025 02/13/2026 10-K
09/30/2025 11/04/2025 10-Q
06/30/2025 08/05/2025 10-Q
03/31/2025 04/30/2025 10-Q
12/31/2024 02/18/2025 10-K
09/30/2024 10/30/2024 10-Q
06/30/2024 07/30/2024 10-Q
03/31/2024 05/01/2024 10-Q
12/31/2023 02/20/2024 10-K
09/30/2023 10/31/2023 10-Q
06/30/2023 08/03/2023 10-Q
03/31/2023 05/03/2023 10-Q
12/31/2022 02/17/2023 10-K
09/30/2022 11/01/2022 10-Q
06/30/2022 08/03/2022 10-Q
				Collapse to PreviewReport Date Filing Date Filing
03/31/2026 05/04/2026 10-Q
12/31/2025 02/13/2026 10-K
09/30/2025 11/04/2025 10-Q
06/30/2025 08/05/2025 10-Q
03/31/2025 04/30/2025 10-Q
12/31/2024 02/18/2025 10-K
09/30/2024 10/30/2024 10-Q
06/30/2024 07/30/2024 10-Q
03/31/2024 05/01/2024 10-Q
12/31/2023 02/20/2024 10-K
09/30/2023 10/31/2023 10-Q
06/30/2023 08/03/2023 10-Q
03/31/2023 05/03/2023 10-Q
12/31/2022 02/17/2023 10-K
09/30/2022 11/01/2022 10-Q
06/30/2022 08/03/2022 10-Q
03/31/2022 05/04/2022 10-Q
12/31/2021 03/16/2022 10-K
09/30/2021 11/09/2021 10-Q
06/30/2021 08/04/2021 10-Q
03/31/2021 05/05/2021 10-Q
12/31/2020 02/24/2021 10-K
09/30/2020 11/05/2020 10-Q
06/30/2020 08/05/2020 10-Q
03/31/2020 05/06/2020 10-Q
12/31/2019 03/02/2020 10-K
09/30/2019 11/12/2019 10-Q
06/30/2019 08/05/2019 10-Q
			
		
	

	
		
			
				
				
				    Recent Forward Guidance
				    Updated 5/31/2026
				
				Latest: Q1 2026 Earnings Reported 5/4/2026
				Forward Guidance Guidance Change
Metric Low Mid High % Chg % Delta Change Prior
Q2 2026 Revenue 520.00 Mil 540.00 Mil 560.00 Mil 8.0%   Raised Guidance: 500.00 Mil for Q1 2026
Q2 2026 GAAP EPS from continuing operations 1.31 1.54 1.77 6.9%   Raised Guidance: 1.44 for Q1 2026
Q2 2026 Non-GAAP EPS 1.93 2.18 2.43 12.4%   Raised Guidance: 1.94 for Q1 2026
				Prior: Q4 2025 Earnings Reported 2/10/2026
				Forward Guidance Guidance Change
Metric Low Mid High % Chg % Delta Change Prior
Q1 2026 Revenue 480.00 Mil 500.00 Mil 520.00 Mil 6.4%   Higher New Guidance: 470.00 Mil for Q4 2025
Q1 2026 GAAP EPS 1.19 1.44 1.69 28.6%   Higher New Guidance: 1.12 for Q4 2025
Q1 2026 Non-GAAP EPS 1.69 1.94 2.19 10.9%   Higher New Guidance: 1.75 for Q4 2025
			
		
	

	
		
			
				
				
				    Insider Activity
				    Updated 6/17/2026
				
				Expand for More# Owner Title Holding Action Filing Date Price Shares Transacted
Value Value of
Held Shares Form
1 Shirley, Brian   Direct Sell 6172026 372.35 1,234 459,480 2,480,968 Form
2 Vonne, Elizabeth Karpinski EVP, General Counsel Direct Sell 4202026 369.40 966 356,840 4,290,950 Form
3 Delsanto, Anne   The Delsanto Family Trust Sell 4162026 380.52 240 91,325 2,349,330 Form
4 Delsanto, Anne   The Delsanto Family Trust Sell 3182026 312.59 240 75,022 2,004,952 Form
5 Kelley, Stephen Douglas President and CEO Direct Sell 3122026 316.62 50,000 15,830,829 25,448,374 Form
				Collapse to Preview# Owner Title Holding Action Filing Date Price Shares Transacted
Value Value of
Held Shares Form
1 Shirley, Brian   Direct Sell 6172026 372.35 1,234 459,480 2,480,968 Form
2 Vonne, Elizabeth Karpinski EVP, General Counsel Direct Sell 4202026 369.40 966 356,840 4,290,950 Form
3 Delsanto, Anne   The Delsanto Family Trust Sell 4162026 380.52 240 91,325 2,349,330 Form
4 Delsanto, Anne   The Delsanto Family Trust Sell 3182026 312.59 240 75,022 2,004,952 Form
5 Kelley, Stephen Douglas President and CEO Direct Sell 3122026 316.62 50,000 15,830,829 25,448,374 Form
6 Roush, John A   Direct Sell 3062026 323.56 10,225 3,308,397 8,927,980 Form
7 Colpitts, Bernard Raymond JR SVP, Chief Accounting Officer Direct Sell 3032026 325.60 1,104 359,462 536,263 Form
8 Vonne, Elizabeth Karpinski EVP, General Counsel Direct Sell 2242026 328.42 964 316,597 3,836,931 Form
9 Delsanto, Anne   The Delsanto Family Trust Sell 2182026 311.04 240 74,650 2,069,660 Form
10 Minnix, Lanesha   Direct Sell 2182026 316.62 1,000 316,625 1,451,726 Form
11 Delsanto, Anne   The Delsanto Family Trust Sell 1162026 247.00 240 59,280 1,702,818 Form
12 Delsanto, Anne   The Delsanto Family Trust Sell 12162025 218.40 240 52,416 1,558,066 Form
13 Donikowski, Tina   Direct Sell 12052025 210.33 2,257 474,715 1,734,802 Form
14 Oldham, Paul R EVP, CFO Direct Sell 11212025 203.11 8,174 1,660,221 5,035,503 Form
15 Colpitts, Bernard Raymond JR SVP, Chief Accounting Officer Direct Sell 11202025 196.82 2,407 473,746 324,163 Form
16 Delsanto, Anne   The Delsanto Family Trust Sell 11182025 200.27 240 48,065 1,476,791 Form
17 Delsanto, Anne   The Delsanto Family Trust Sell 10172025 186.99 240 44,878 1,423,742 Form
18 Delsanto, Anne   The Delsanto Family Trust Sell 9162025 157.25 240 37,740 1,235,042 Form
19 Delsanto, Anne   The Delsanto Family Trust Sell 8192025 160.42 240 38,501 1,298,439 Form
20 Donaghey, John EVP, Global Sales Direct Sell 8142025 160.73 1,000 160,730 1,611,961 Form
21 Delsanto, Anne   The Delsanto Family Trust Sell 7162025 143.27 240 34,385 1,194,012 Form
22 Donaghey, John EVP, Global Sales Direct Sell 7092025 140.00 2,000 280,000 1,544,060 Form
23 Oldham, Paul R EVP, CFO Direct Sell 6242025 131.29 1,173 154,003 4,070,778 Form
24 Delsanto, Anne   The Delsanto Family Trust Sell 6182025 124.39 240 29,854 1,066,520 Form
			
		
	
	
	
		
			
				
				 AEIS Trade Sentinel
				
				
					
						
					
					
						
					
					
						
					
					
						
					
				
				
				
				
				
					
						
							
								
									
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										CONVICTION RATIONALE
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										INVESTMENT THESIS
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								Key KPI Watchlist
								
									
										
											
												
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													Rationale
												
											
											
												
											
										
									
								
							

						
					

					
						
							
								Core Investment Debate
								
							

							
								
									
										BULL VIEW
										
									
								
								
									
										CORE TENSION
										
										
										PREVAILING SENTIMENT
										
										
									
								
								
									
										BEAR VIEW
										
									
								
							

							
								Next 6 months: Risks and Catalysts
								
									
										
											
												
													Timeline
													Event & Metric To Watch
												
											
											
												
											
										
									
								
							

							
								Key Events in Last 6 Months
								
									
										
											
												
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								Risk Management
								
									
										
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											 Diversification Alternatives
											
												
											
										
									
								
							
						
					

					
						
							How Is The Market Pricing AEIS?

							
								
									
								
							

							
								
									
								
							

							
								
									
										 What will confirm the thesis
										
									
								

								
									
										 What will damage the thesis
										
									
								

								
									
										 Noise: Real but irrelevant to thesis
										
									
								
							

							
								Repricing Catalyst
								
							

							
								What AEIS Makes & Who Pays

								
									
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								AEIS Evolution: Price Return by Era
								
								
								

								
									
										
									
								
							

						
					

	
					
						
						
							
							
								
								

								
									
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									How the Verdict Is Derived
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								Price Intelligence is derived from price-volume pattern analysis only. All moving averages are simple (SMA). Relative strength benchmarked against SPY.
							
						
					
					
				
			
		
	
	
	
		
			
				
				
			
		
	
	
		
			
				
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		        Core Cache Last Updated: 6/27/2026

Pillar	Score
① Structure	0
② Vol / Mom	0
③ Catalyst	0

	Title	Date
0	DASHBOARDS
1	Advanced Energy Industries Earnings Notes	05/01/2026
2	AEIS Stock (+8.2%): Analyst Upgrades Ignite Institutional Buying	01/16/2026
3	Would You Still Hold Advanced Energy Industries Stock If It Fell 30%?	10/17/2025
4	Is AEIS Stock Still the Best Pick Among Its Peers?	08/14/2025
5	AEIS's 16% One Week Pop Begs The Question: Is AMAT Better Instead?	08/14/2025
6	Advanced Energy Industries vs. Belden: Both Seem Similar Bets	07/11/2025
7	AEIS Dip Buy Analysis	07/10/2025
8	ARTICLES
9	Mid Cap Stocks Trading At 52-Week High	05/02/2026
10	How Will Advanced Energy Industries Stock React To Its Upcoming Earnings?	05/01/2026
11	Advanced Energy (AEIS) Rises 8.2% on Semiconductor Sector Surge	04/01/2026
12	Advanced Energy (+8.1%): Citi Target Hike to $385 Spurs All-Time High	03/25/2026
13	As AEIS Surges 16% in a Week, AMAT’s Story Stands Out	08/14/2025

	AEIS	MKSI	AME	LRCX	AMAT	KLAC	Median
Name	Advanced.	MKS	AMETEK	Lam Rese.	Applied .	KLA
Mkt Price	348.11	388.61	237.52	379.09	626.84	248.64	363.60
Mkt Cap	13.1	26.2	54.4	473.8	497.7	325.5	189.9
Rev LTM	1,905	4,072	7,598	21,682	29,024	13,097	10,347
Op Inc LTM	220	593	1,970	7,427	8,745	5,459	3,715
FCF LTM	68	402	1,703	6,005	5,343	4,010	2,856
FCF 3Y Avg	97	382	1,677	4,779	6,003	3,534	2,606
CFO LTM	198	557	1,836	6,955	7,993	4,402	3,119
CFO 3Y Avg	179	503	1,810	5,450	7,768	3,862	2,836

$ Mil	2025	2024	2023	2022	2021
Product	1,615	1,316	1,484	1,686	1,318
Services and other	184	166	172	159	138
Total	1,799	1,482	1,656	1,845	1,456

$ Mil	2014	2013	2012	2011
Precision Power Products	95
Unallocated corporate assets	-2
Inverters	-52
Corporate expenses		-46	-2	-23
Solar Energy		-4	14	4
Thin Films		65	23	68
Restructuring charges			-7
Total	40	15	27	49

Market Price	$348.11
Market Cap ($ Bil)	13.1
First Trading Date	11/17/1995
Distance from 52W High	-10.5%
	50 Days	200 Days
DMA Price	$347.21	$270.60
DMA Trend	up	indeterminate
Distance from DMA	0.3%	28.6%
	3M	1YR
Volatility	65.5%	53.7%
Downside Capture	339.18	208.23
Upside Capture	215.31	282.36
Correlation (SPY)	56.8%	56.9%

	1M	2M	3M	6M	1Y	3Y
Beta	2.91	2.54	2.37	2.20	2.29	1.93
Up Beta	2.54	2.79	2.91	2.57	2.44	1.91
Down Beta	1.39	1.78	2.42	1.89	2.26	1.72
Up Capture	-1%	94%	157%	319%	548%	1774%
Bmk +ve Days	13	28	36	67	141	432
Stock +ve Days	8	20	32	69	144	395
Down Capture	769%	495%	252%	172%	154%	112%
Bmk -ve Days	7	13	27	57	109	318
Stock -ve Days	12	21	31	55	106	356

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with AEIS
AEIS	162.7%	53.5%	1.99	-
Sector ETF (XLK)	46.1%	23.5%	1.55	58.2%
Equity (SPY)	21.2%	12.4%	1.26	56.8%
Gold (GLD)	21.8%	27.7%	0.70	24.8%
Commodities (DBC)	21.8%	18.6%	0.92	-5.7%
Real Estate (VNQ)	16.1%	13.6%	0.85	17.4%
Bitcoin (BTCUSD)	-44.2%	42.5%	-1.25	30.3%

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with AEIS
AEIS	27.8%	43.6%	0.70	-
Sector ETF (XLK)	21.5%	25.3%	0.75	67.5%
Equity (SPY)	13.4%	17.1%	0.61	65.7%
Gold (GLD)	17.8%	18.3%	0.79	13.4%
Commodities (DBC)	7.4%	19.5%	0.28	11.9%
Real Estate (VNQ)	3.4%	18.9%	0.08	41.6%
Bitcoin (BTCUSD)	10.9%	54.0%	0.39	26.6%

	Annualized Return	Annualized Volatility	Sharpe Ratio	Correlation with AEIS
AEIS	25.1%	44.7%	0.66	-
Sector ETF (XLK)	25.0%	24.7%	0.91	67.4%
Equity (SPY)	15.2%	18.0%	0.72	65.9%
Gold (GLD)	11.8%	16.1%	0.60	10.1%
Commodities (DBC)	5.9%	18.0%	0.26	19.9%
Real Estate (VNQ)	5.6%	20.7%	0.23	44.0%
Bitcoin (BTCUSD)	54.7%	66.4%	0.95	19.6%

Short Interest: As Of Date	6152026
Short Interest: Shares Quantity	2.6 Mil
Short Interest: % Change Since 5312026	15.0%
Average Daily Volume	0.9 Mil
Days-to-Cover Short Interest	3.0 days
Basic Shares Quantity	37.7 Mil
Short % of Basic Shares	6.9%

	Title
0	Would You Still Hold Advanced Energy Industries Stock If It Fell 30%?
1	Advanced Energy Industries Stock Return Comparison
2	Advanced Energy Industries Total Shareholder Return (TSR): -5.4% in 2022 and 6.7% 3-yr returns (below peer average)
3	Advanced Energy Industries (AEIS) Stock Return: AI Predicts AEIS Average and Excess Return After a Fall or Rise

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
5/4/2026	-10.7%	-8.3%	-16.6%
2/10/2026	10.7%	15.2%	9.6%
11/4/2025	15.8%	10.7%	12.5%
8/5/2025	0.2%	13.8%	7.6%
4/30/2025	11.2%	12.7%	17.9%
2/12/2025	11.1%	17.2%	-4.4%
10/30/2024	0.7%	9.5%	6.8%
7/30/2024	7.4%	-9.0%	-1.6%
...
SUMMARY STATS
# Positive	11	14	11
# Negative	13	10	13
Median Positive	7.4%	7.6%	11.9%
Median Negative	-4.5%	-7.8%	-3.5%
Max Positive	15.8%	17.2%	32.6%
Max Negative	-12.1%	-15.7%	-16.6%

Report Date	Filing Date	Filing
03/31/2026	05/04/2026	10-Q
12/31/2025	02/13/2026	10-K
09/30/2025	11/04/2025	10-Q
06/30/2025	08/05/2025	10-Q
03/31/2025	04/30/2025	10-Q
12/31/2024	02/18/2025	10-K
09/30/2024	10/30/2024	10-Q
06/30/2024	07/30/2024	10-Q
03/31/2024	05/01/2024	10-Q
12/31/2023	02/20/2024	10-K
09/30/2023	10/31/2023	10-Q
06/30/2023	08/03/2023	10-Q
03/31/2023	05/03/2023	10-Q
12/31/2022	02/17/2023	10-K
09/30/2022	11/01/2022	10-Q
06/30/2022	08/03/2022	10-Q

Forward Guidance				Guidance Change
Metric	Low	Mid	High	% Chg	% Delta	Change	Prior
Q2 2026 Revenue	520.00 Mil	540.00 Mil	560.00 Mil	8.0%		Raised	Guidance: 500.00 Mil for Q1 2026
Q2 2026 GAAP EPS from continuing operations	1.31	1.54	1.77	6.9%		Raised	Guidance: 1.44 for Q1 2026
Q2 2026 Non-GAAP EPS	1.93	2.18	2.43	12.4%		Raised	Guidance: 1.94 for Q1 2026

#	Owner	Title	Holding	Action	Filing Date	Price	Shares	Transacted Value	Value of Held Shares	Form
1	Shirley, Brian		Direct	Sell	6172026	372.35	1,234	459,480	2,480,968	Form
2	Vonne, Elizabeth Karpinski	EVP, General Counsel	Direct	Sell	4202026	369.40	966	356,840	4,290,950	Form
3	Delsanto, Anne		The Delsanto Family Trust	Sell	4162026	380.52	240	91,325	2,349,330	Form
4	Delsanto, Anne		The Delsanto Family Trust	Sell	3182026	312.59	240	75,022	2,004,952	Form
5	Kelley, Stephen Douglas	President and CEO	Direct	Sell	3122026	316.62	50,000	15,830,829	25,448,374	Form

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

Advanced Energy Industries (AEIS)

Market Price (6/28/2026): $351.01 | Market Cap: $13.2 BilSector: Information Technology | Industry: Semiconductor Materials & Equipment

Advanced Energy Industries (AEIS)

Market Price (6/28/2026): $351.01Market Cap: $13.2 BilSector: Information TechnologyIndustry: Semiconductor Materials & Equipment

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

AEIS in ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

In The Past

Preserve Wealth

Asset Allocation

About Advanced Energy Industries (AEIS)

Major Customers of Advanced Energy Industries (AEIS)

Share Repurchases

Share Issuance

Outbound Investments

Capital Expenditures

Interactive Breakdown

Better Bets vs. Advanced Energy Industries (AEIS)

INDUSTRY: Semiconductor Materials & Equipment

Higher Rev Chg 3Y Avg | Lower P/S (Values for AEIS: 1.8% | 6.9x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for AEIS: 1.8% | 59.8x)

Higher Rev Chg LTM (Value for AEIS: 22.2%)

Higher Rev Chg 3Y Avg (Value for AEIS: 1.8%)

Higher Op Mgn LTM (Value for AEIS: 11.5%)

Higher CFO/Rev LTM (Value for AEIS: 10.4%)

Higher FCF/Rev LTM (Value for AEIS: 3.6%)

Higher Total Yield (Value for AEIS: 1.6%)

SECTOR: Information Technology

Higher Rev Chg 3Y Avg | Lower P/S (Values for AEIS: 1.8% | 6.9x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for AEIS: 1.8% | 59.8x)

Higher Rev Chg LTM (Value for AEIS: 22.2%)

Higher Rev Chg 3Y Avg (Value for AEIS: 1.8%)

Higher Op Mgn LTM (Value for AEIS: 11.5%)

Higher CFO/Rev LTM (Value for AEIS: 10.4%)

Higher FCF/Rev LTM (Value for AEIS: 3.6%)

Higher Total Yield (Value for AEIS: 1.6%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for AEIS: 1.8% | 6.9x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for AEIS: 1.8% | 59.8x)

Higher Rev Chg LTM (Value for AEIS: 22.2%)

Higher Rev Chg 3Y Avg (Value for AEIS: 1.8%)

Higher Op Mgn LTM (Value for AEIS: 11.5%)

Higher CFO/Rev LTM (Value for AEIS: 10.4%)

Higher FCF/Rev LTM (Value for AEIS: 3.6%)

Higher Total Yield (Value for AEIS: 1.6%)

Best Bets in Information Technology

P/EBIT (Value for AEIS: 59.0x)

P/E (Value for AEIS: 68.9x)

Rev Chg 3Y Avg (Value for AEIS: 1.8%)

Rev Chg LTM (Value for AEIS: 22.2%)

Rev Chg Q (Value for AEIS: 26.3%)

FCF/Rev 3Y Avg (Value for AEIS: 6.0%)

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Market Price (6/28/2026): $351.01
Market Cap: $13.2 Bil
Sector: Information Technology
Industry: Semiconductor Materials & Equipment