Advanced Energy Industries, Inc.
- Open
- 265.91
- Day high
- 265.91
- Day low
- 259.01
- Prev close
- 268.19
- Volume
- 15K
- Mkt cap
- $10.5B
- P/E (TTM)
- 45.4
- EPS (TTM)
- $5.78
- P/B
- 7.2
- P/S
- 5.2
- Yield
- 0.15%
- Per share
- $0.40
- ▼Insiders net selling -$8.9M over the last 3 months (0 open-market buys, 22 sales)
- 🏛Institutions accumulating (13F)
Advanced Energy Industries, Inc. (AEIS) is a Industrials company listed on NASDAQ. The stock is up 85% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 22 sales (SEC Form 4). Drillr has 1 published research article covering AEIS.
Advanced Energy Industries, Inc. (AEIS) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 9 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
AEIS earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 3, 2026 | $2.21 | $2.74 | +24.0% | $574M | +5.5% |
| May 4, 2026 | $1.97 | $2.09 | +6.1% | $511M | +1.0% |
| Apr 30, 2025 | $1.04 | $1.23 | +18.3% | $405M | +3.2% |
| Feb 12, 2025 | $1.09 | $1.30 | +19.3% | $415M | +5.4% |
| Oct 30, 2024 | $0.92 | $0.98 | +6.5% | $374M | -5.0% |
| May 1, 2024 | $0.71 | $0.58 | -18.3% | $327M | -6.9% |
| Oct 31, 2023 | $1.16 | $1.28 | +10.3% | $410M | -1.9% |
| Aug 3, 2023 | $1.07 | $1.11 | +3.7% | $416M | +0.7% |
| May 3, 2023 | $1.12 | $1.24 | +10.7% | $425M | +2.4% |
| Feb 8, 2023 | $1.58 | $1.70 | +7.6% | $491M | +2.9% |
| Nov 1, 2022 | $1.38 | $2.12 | +53.6% | $516M | +17.4% |
| Aug 3, 2022 | $1.11 | $1.44 | +29.7% | $441M | +9.8% |
AEIS insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 27, 2026 | Vonne Elizabeth Karpinskiofficer: EVP, General Counsel | Sell | 907 | $290.05 |
| Aug 20, 2026 | Acebedo Eduardo Bernalofficer: EVP and COO | Sell | 3,103 | $314.92 |
| Aug 20, 2026 | Acebedo Eduardo Bernalofficer: EVP and COO | Sell | 720 | $320.81 |
| Aug 20, 2026 | Acebedo Eduardo Bernalofficer: EVP and COO | Sell | 425 | $323.28 |
| Aug 20, 2026 | Acebedo Eduardo Bernalofficer: EVP and COO | Sell | 120 | $330.45 |
| Aug 20, 2026 | Acebedo Eduardo Bernalofficer: EVP and COO | Sell | 3,998 | $312.65 |
| Aug 20, 2026 | Acebedo Eduardo Bernalofficer: EVP and COO | Option | 6,042 | $85.97 |
| Aug 20, 2026 | Acebedo Eduardo Bernalofficer: EVP and COO | Sell | 5,062 | $313.82 |
| Aug 20, 2026 | Acebedo Eduardo Bernalofficer: EVP and COO | Sell | 637 | $322.64 |
| Aug 20, 2026 | Acebedo Eduardo Bernalofficer: EVP and COO | Sell | 2,180 | $315.66 |
| Aug 20, 2026 | Acebedo Eduardo Bernalofficer: EVP and COO | Sell | 1,403 | $319.41 |
| Aug 20, 2026 | Acebedo Eduardo Bernalofficer: EVP and COO | Sell | 335 | $324.44 |
| Aug 20, 2026 | Acebedo Eduardo Bernalofficer: EVP and COO | Sell | 568 | $310.75 |
| Aug 20, 2026 | Acebedo Eduardo Bernalofficer: EVP and COO | Sell | 2,951 | $311.80 |
| Aug 20, 2026 | Acebedo Eduardo Bernalofficer: EVP and COO | Sell | 1,280 | $316.92 |
Source: AEIS SEC Form 4 filings, latest Aug 27, 2026. For informational purposes only — not investment advice.
See the full AEIS insider & 13F page →Advanced Energy Industries, Inc. company profile
Overview
Advanced Energy Industries, Inc. (NASDAQ:AEIS) is a Denver-based precision power solutions company founded in 1981 and publicly traded since 1995. The company designs, manufactures, and supports specialized power conversion, measurement, and control systems that enable critical processes across semiconductor manufacturing, data centers, industrial applications, and medical equipment. With a global manufacturing footprint and direct sales presence, Advanced Energy has established itself as a key supplier of mission-critical power systems to technology-driven industries worldwide.
Business
Advanced Energy operates in the specialized precision power solutions industry, providing highly engineered power conversion and control systems that enable critical manufacturing and computing processes. The company's products are essential components in semiconductor fabrication equipment, data center infrastructure, industrial manufacturing systems, and medical devices. The company operates through four primary business segments: 1. **Semiconductor Solutions** (approximately 55% of revenue): Advanced Energy provides plasma power systems that are essential for semiconductor wafer processing. These include direct current (DC), pulsed DC, radio frequency (RF) power supplies, and RF matching networks used in plasma etching and deposition processes during chip manufacturing. The company's flagship products include the eVoS, eVerest, and NavX platforms, which are modular power systems that help semiconductor manufacturers improve throughput and yield in advanced chip production. 2. **Data Center Computing** (approximately 22% of revenue): This rapidly growing segment provides high-efficiency power conversion modules for servers, storage systems, and AI computing infrastructure. These products convert and regulate electrical power for hyperscale data centers and cloud computing facilities, with particular strength in solutions for high-performance computing and artificial intelligence workloads. 3. **Industrial and Medical** (approximately 19% of revenue): Advanced Energy supplies power control systems for industrial processes including rapid thermal processing, chemical vapor deposition, crystal growing, and metal manufacturing. For medical applications, the company provides embedded power products that meet strict safety and reliability standards for medical equipment. 4. **Telecom and Networking** (approximately 5% of revenue): This segment provides power solutions for telecommunications infrastructure and networking equipment, representing the company's smallest but stable business unit. The semiconductor and data center segments have been the primary growth drivers, with data center computing experiencing particularly strong expansion due to AI infrastructure investments.
Revenue model
Advanced Energy generates revenue primarily through direct product sales of its precision power systems, with additional income from service, repair, and refurbishment offerings. The company's business model centers on providing highly specialized, often sole-source power solutions that become integral components in customers' manufacturing equipment and computing systems. The company's customers include semiconductor equipment manufacturers like Applied Materials and Lam Research, hyperscale data center operators such as major cloud providers, industrial equipment manufacturers, and medical device companies. Revenue is typically generated through direct sales contracts, with customers often requiring long qualification periods before adopting new power solutions, creating switching costs and recurring revenue opportunities. Several factors influence Advanced Energy's profitability margins. **Positive margin drivers** include the company's focus on sole-source, highly engineered solutions that command premium pricing, economies of scale from volume production, and the ongoing shift toward higher-value products in semiconductor and data center markets. The company's manufacturing consolidation efforts and factory optimization initiatives are expected to improve gross margins toward a target of over 40%. **Margin pressures** come from commodity material cost fluctuations, competitive pricing in more standardized product categories, and the cyclical nature of semiconductor capital equipment spending. The company's exposure to end-market demand cycles, particularly in semiconductor manufacturing, creates revenue volatility that impacts fixed cost absorption. Additionally, the need for continuous R&D investment to maintain technological leadership and the costs associated with manufacturing footprint optimization can pressure near-term margins. Advanced Energy's diversification across multiple end markets helps mitigate some cyclical risks, with the growing data center segment providing more stable demand patterns compared to the historically volatile semiconductor equipment market.
Competitive moat
Advanced Energy possesses a moderate to strong competitive moat built primarily on technological expertise, customer switching costs, and market positioning in specialized applications. The company's strongest moat exists in semiconductor plasma power solutions, where its products often become sole-source components in customers' manufacturing equipment. Once qualified and integrated into semiconductor fabrication tools, Advanced Energy's power systems are difficult to replace due to the extensive re-qualification requirements and the critical nature of the manufacturing processes they enable. The company's engineering expertise in precision power conversion creates barriers to entry, as developing competitive solutions requires significant R&D investment and deep understanding of complex customer applications. Advanced Energy's long-standing relationships with major semiconductor equipment manufacturers and its ability to co-develop solutions for next-generation processes provide additional competitive advantages. However, the moat faces several potential challenges. In more commoditized power applications, particularly in industrial and telecom markets, competitive pressure from lower-cost providers can erode pricing power. The data center segment, while growing rapidly, includes more standardized products where competition from larger power semiconductor companies and hyperscale operators' internal development efforts pose threats. **Competitive risks** include potential disruption from emerging power technologies, customers' efforts to develop internal capabilities or qualify alternative suppliers, and the cyclical nature of key end markets that can pressure customer relationships during downturns. The semiconductor equipment industry's consolidation could also reduce Advanced Energy's customer base and increase buyer power. The company's moat is strongest in applications requiring the highest precision and reliability, but faces erosion in more standardized power conversion applications where scale and cost advantages become more important than specialized engineering capabilities.
Risks & safety
Advanced Energy demonstrates a strong financial position with substantial margin of safety, though recent performance has been mixed due to market cyclicality. **Liquidity and Solvency:** - Strong cash position of $723 million with minimal debt burden - Current ratio of 4.43 indicates excellent short-term liquidity - Debt-to-equity ratio of 0.55 represents manageable leverage - Positive free cash flow generation of $74 million in 2024 **Valuation Metrics:** - Trading at P/E ratio of 36.3x based on recent earnings, elevated due to cyclical earnings trough - EV/EBITDA of 28.9x appears high but reflects current market conditions - Price-to-book ratio of 2.9x reasonable for a technology company - Graham number suggests potential undervaluation at current levels **Other Considerations:** - Cyclical earnings volatility creates uncertainty in normalized earning power - Strong balance sheet provides flexibility during market downturns - Manufacturing consolidation efforts may pressure near-term margins but should improve long-term profitability
Recent development
Over the past several years, Advanced Energy has executed a comprehensive transformation strategy focused on market diversification, operational efficiency, and new product development. The company has significantly expanded its data center computing business, which grew from a small segment to representing over 20% of revenue, driven by AI infrastructure investments and hyperscale data center demand. In semiconductor markets, Advanced Energy has launched multiple new product platforms including the eVoS, eVerest, and NavX systems, shipping over 250 qualification units to customers with expectations for production ramps in 2025. These modular platforms are designed to capture market share in next-generation semiconductor manufacturing processes. The company has undertaken a major manufacturing consolidation initiative, reducing its global footprint and exiting manufacturing operations in China by mid-2025. This restructuring is expected to improve gross margins from current levels toward a target of over 40% through reduced fixed costs and improved operational efficiency. Strategic acquisitions have complemented organic growth, including the purchase of Airity Technologies to enhance high-voltage power capabilities and SL Power to expand industrial and medical market presence. Advanced Energy has also invested heavily in R&D, launching 35 new platform products in 2024 alone, while maintaining focus on sole-source design wins across all market segments. The company has positioned itself for growth in emerging applications including electric vehicle charging, renewable energy systems, and advanced manufacturing processes, while maintaining its core strength in semiconductor and data center markets.
AEIS company profile · for informational purposes only — not investment advice.
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