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NASDAQ NMS - GLOBAL MARKET · Electrical Equipment · CIK 0000927003
$216.64
-12.49% · live
Updated
$8.19B market value
From ADVANCED ENERGY INDUSTRIES INC's FY2025 10-K, filed Feb 13, 2026 · read the filing
ADVANCED ENERGY INDUSTRIES designs and makes computer chips. It took in $1.80B last year, which makes it a mid-sized company. Of every dollar it sells, about 8 cents is left as profit.
The financial picture is led by growth, debt and accounting, with profitability worth watching.
A conclusion from the filings, not a recommendation. Detailed figures and supporting evidence appear in their dedicated sections below.
Financial health
Strong finances across the board.
From ADVANCED ENERGY INDUSTRIES INC's FY2025 annual filing · share price scored separately
Largest year-over-year changes in FY2025
Operating income
$36.6M → $168.0M
Profit
$54.2M → $148.4M
Free cash flow
$74.0M → $125.9M
Earnings per share
$1.44 → $3.93
Measured against FY2024, from the 10-K filed Feb 13, 2026
Improved: +359.0%
$36.6M to $168.0MCritical
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Improved: +173.7%
$54.2M to $148.4MCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
How the latest move compares (quote live), and what was published around it
AEIS fell 12.49% on the latest quote. The average Technology company tracked here moved −1.27%, and the S&P 500 −1.04%. That is 11.2 points below its sector and 11.4 points below the market.
Expectations
Not from the filings — what other people are betting on, and what the price already assumes.
The growth rate someone buying today is paying for, against what the company has delivered
At today's price, the market is paying for free cash flow to grow by about 22% a year for the next 10 years. Over the last 10 years it grew by about 2% a year.
The essentials
Each answered from the filings, with the numbers behind it.
Yes. It keeps about 8 cents of every dollar of sales as profit, earning $148.4M last year.
Yes, quickly. Sales grew 21.4% last year.
No. At its current cash flow it could clear its debt in about 1.5 years. For every $1 it owes, it owns $2.17 in assets.
Core operating and valuation reference metrics
Whether the dividend is covered by what the business actually earns
It pays out 11 cents of every dollar of profit and keeps the rest, which leaves the payment comfortably covered. It paid out 7% of the cash its operations generated. It has paid in each of the last 5 years.
GoodNext payment expected around , projected from how regularly it has paid before rather than from a date the company has announced.
Figures from the FY2025 annual filing
Last year it earned $148.4M and generated $233.3M of cash from operations.
Reported annual figures
As reported to the SEC, in USD. Hover or show sources to see where each figure came from.
| Income statement | FY202510-K · Feb 13, 2026Filing for FY2025 | FY202410-K · Feb 13, 2026Filing for FY2024 | FY202310-K · Feb 13, 2026Filing for FY2023 | FY202210-K · Feb 13, 2026Filing for FY2022 | FY202110-K · Feb 20, 2024Filing for FY2021 | ChangeFY2025 vs FY2024 |
|---|---|---|---|---|---|---|
| RevenueWhat is this? | $1.80B | $1.48B | $1.66B | $1.85B | $1.46B | +21.4% |
| Cost of revenue | $1.12B | $952.7M | $1.06B | $1.17B | $923.6M | +17.7% |
| Gross profit | $677.4M | $529.3M | $592.4M | $675.5M | $532.3M | +28.0% |
| Gross marginGross profit ÷ revenueWhat is this? | 37.7% | 35.7% | 35.8% | 36.6% | 36.6% | +1.9 pts |
| Selling, general and administrative | $242.4M | $224.6M | $221.0M | $218.5M | $192.0M | +7.9% |
| Operating income | $168.0M | $36.6M | $113.7M | $233.1M | $151.7M | +359.0% |
| Operating marginOperating income ÷ revenueWhat is this? | 9.3% | 2.5% | 6.9% | 12.6% | 10.4% | +6.9 pts |
| Interest expense | $16.7M | $25.1M | $16.6M | $7.3M | $3.6M | −33.5% |
| Income before tax | $168.7M | $52.4M | $122.5M | $241.7M | $148.7M | +221.9% |
| Net income | $148.4M | $54.2M | $128.3M | $199.7M | $134.7M | +173.7% |
| Net marginNet income ÷ revenueWhat is this? | 8.2% | 3.7% | 7.7% | 10.8% | 9.3% | +4.6 pts |
| Earnings per shareNet income ÷ shares outstanding at the period end — close to, but not the same as, the reported EPSWhat is this? | $3.93 | $1.44 | $3.44 | $5.33 | $3.58 | +173.0% |
† calculated from other reported figures, such as total liabilities as assets minus equity.
Insider activity, ownership stakes and what's coming — straight from EDGAR, before any article is written about it
Officers, directors and major shareholders must report within two business days of a trade.
Sold on the open market — 270 shares at $304.76 ($82.3K)
Holds 7,682 shares after this filing.
Sold on the open market — 265 shares at $288.14 ($76.4K)
Holds 7,952 shares after this filing.
20 recent filings, newest first. Each is labelled from its form and item numbers, not from its wording.
Quarterly report for Q2 FY2026
Revenue +30.0% · Operating margin +9.4 pts · Gross profit +44.5% — against Q2 FY2025
Read the filingPublished results
Read the filingWrite down why you are following ADVANCED ENERGY INDUSTRIES INC, what has to go right and what would change your mind, then see each new annual report measured against it. Sign in to start one.
Go deeper
Every figure above traces back to a filing in the timeline, each linked to the document itself.
The 67 subsidiaries named in its 10-K, incorporated across 16 places. A filer lists the significant ones and may leave the rest out, so this is the floor rather than the full count.
Every company's figures are checked for internal consistency: the balance sheet adding up, figures sharing one currency, cash flow and share counts within plausible ranges, and how recent the latest annual report is. Nothing here changes a figure.
Financial figures are from AEIS's 10-K for fiscal year 2025 (period ending 2025-12-31, filed Feb 13, 2026), reported under the US GAAP taxonomy. View the source filing.
4 of 4 scored areas had enough reported figures to judge
The score averages profitability, growth, debt and accounting. All four had enough reported figures. Cash generation is shown for context and already feeds profitability. Valuation is scored separately, because a share price says nothing about whether the business is sound. 9 of the 9 Piotroski checks could be evaluated. How the score works
Each year scored only from its annual report as it was first filed
| Fiscal year | Health | F-Score | Scored from |
|---|---|---|---|
| FY2025 | 9.0 | 8/9 | 10-K, filed Feb 13, 2026 |
| FY2024 | 6.0 | 6/9 | 10-K, filed Feb 18, 2025 |
| FY2023 | 7.0 | 5/9 | 10-K, filed Feb 20, 2024 |
| FY2022 | 10.0 | 7/9 | 10-K, filed Feb 17, 2023 |
| FY2021 | 7.3 | 5/9 | 10-K, filed Mar 16, 2022 |
| FY2020 | 8.7 | 8/9 | 10-K, filed Feb 24, 2021 |
A later restatement never reaches back into an earlier year, and every year is scored without a share price, so the latest point can differ a little from the headline score, which uses today's price.
Every check behind the three models, and what each one tests
8 of 9 checks passed
Nine yes-or-no tests of whether this year's finances improved on last year's.
6.00
In the safe zone
For this model, above 2.99 is safe and below 1.81 is distress.
Distance from bankruptcy, from a model fitted on companies that did and did not go bust. It describes a balance sheet's shape today; it does not forecast a failure.
-2.62
Below the threshold — nothing unusual flagged
Scores above -1.78 are the ones the model associates with earnings manipulation.
Screens eight accounting ratios for the pattern earnings manipulators tend to leave. A flag is a reason to read the filing closely, never evidence of wrongdoing.
Every figure above comes from the FY2025 filing as filed with the SEC.
Improved: +70.1%
$74.0M to $125.9MCritical
Why it matters: Cash left after paying for the plant that produced it — the money genuinely available for dividends, buybacks or paying down debt. Harder to flatter than profit.
Improved: +173.0%
$1.44 to $3.93Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Changed: +89.1%
$56.8M to $107.4MCritical
Why it matters: Neither good nor bad on its own. Heavy spending is a company building capacity or a company struggling to stand still, and the two look identical in this figure.
Improved: +21.4%
$1.48B to $1.80BSignificant
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Improved: +28.0%
$529.3M to $677.4MSignificant
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Improved: +6.9 pts
2.5% to 9.3%Significant
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Improved: +4.6 pts
3.7% to 8.2%Significant
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Improved: +1.9 pts
35.7% to 37.7%Notable
Why it matters: What survives each sale before overheads. Falling gross margin usually means the company is discounting or its input costs rose — it is the earliest place pricing pressure shows.
Improved: +9.6%
$722.1M to $791.2MNotable
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Q2 FY2026 against Q2 FY2025, from the 10-Q filed Aug 3, 2026 — read it.
Improved: +44.5%
$163.4M to $236.1MCritical
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Improved: +200.9%
$31.6M to $95.1MCritical
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Improved: +114.7%
$25.2M to $54.1MCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Improved: +9.4 pts
7.2% to 16.6%Critical
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Improved: +102.3%
$0.67 to $1.35Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Deteriorated: +99.4%
$566.1M to $1.13BCritical
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Improved: +95.7%
$713.5M to $1.40BCritical
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Improved: +30.0%
$441.5M to $574.1MSignificant
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Improved: +4.1 pts
37.0% to 41.1%Significant
Why it matters: What survives each sale before overheads. Falling gross margin usually means the company is discounting or its input costs rose — it is the earliest place pricing pressure shows.
Improved: +3.7 pts
5.7% to 9.4%Significant
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Deteriorated: +6.1%
37.7M to 40.0MSignificant
Why it matters: New shares divide the same company into more pieces, so each existing holding owns slightly less of it. Often pay for staff or an acquisition rather than anything wrong.
Q2 FY2026 against Q1 FY2026, from the 10-Q filed Aug 3, 2026 — read it. Quarter-to-quarter moves include seasonal swings — a retailer's holiday quarter — which the year-earlier comparison removes.
Deteriorated: +98.6%
$568.2M to $1.13BCritical
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Improved: +99.6%
$699.5M to $1.40BCritical
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Improved: +17.5%
$200.9M to $236.1MSignificant
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Improved: +39.2%
$68.3M to $95.1MSignificant
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Deteriorated: -19.0%
$66.8M to $54.1MSignificant
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Improved: +3.2 pts
13.4% to 16.6%Significant
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Deteriorated: −3.6 pts
13.1% to 9.4%Significant
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Deteriorated: -23.1%
$1.76 to $1.35Significant
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Deteriorated: +5.3%
38.0M to 40.0MSignificant
Why it matters: New shares divide the same company into more pieces, so each existing holding owns slightly less of it. Often pay for staff or an acquisition rather than anything wrong.
Improved: +12.3%
$511.0M to $574.1MNotable
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Improved: +1.8 pts
39.3% to 41.1%Notable
Why it matters: What survives each sale before overheads. Falling gross margin usually means the company is discounting or its input costs rose — it is the earliest place pricing pressure shows.
3 other measures barely moved. Figures compare the two most recent annual filings — read the latest one. Moves are graded on fixed lines — 5%, 15% and 40% for amounts, and 1, 3 and 8 points for margins — as notable, significant or critical. Nothing here reads the management commentary, which is where a company explains its own numbers.
These coincide with the move in time. None is presented as its cause: a price can move on news that names no company, on the wider market, or on trading that no document records.
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Discounted at 8%–10% a year, with growth settling to 2.5% after 10 years. Those rates are ordinary choices, not measurements: across that range the assumed growth works out between 19% and 24%. This describes what the price implies — it is not a forecast, and not a view on whether the price is right.
Measured on and published about a week later — this is a fortnightly snapshot, not a live position.
About 4.8% of this company's shares have been borrowed and sold by people expecting to buy them back cheaper. That is a bet the price falls. Those people can be wrong, and when a heavily shorted share rises they have to buy it back, which pushes it up further.
Collected by FINRA from broker-dealers twice a month. It counts positions, not intentions, and some of it is hedging rather than a directional bet against the company.
Nothing in this section is a figure this company reported about itself. These are expectations and positions — what the price implies, what analysts have published, what short sellers are betting, and what large funds held at the last count. WylthIQ reports them; it does not endorse them, does not forecast prices, and takes no view on whether any of them will turn out to be right.
The trailing P/E is 42.6x — a high multiple relative to the current trailing profit.
Nothing unusual. Its accounting patterns look like those of companies that report earnings straightforwardly.
Sold on the open market — 632 shares at $288.14 ($182.1K)
Holds 9,177 shares after this filing.
Sold on the open market — 907 shares at $290.05 ($263.1K)
Holds 9,805 shares after this filing.
Gifted shares — 9,000 shares
Holds 60,159 shares after this filing.
Exercised stock options — 6,042 shares at $85.97 ($519.4K)
Holds 47,880 shares after this filing.
Sold on the open market — 406 shares at $309.73 ($125.8K)
Holds 47,474 shares after this filing.
Sold on the open market — 568 shares at $310.75 ($176.5K)
Holds 46,906 shares after this filing.
Sold on the open market — 2,951 shares at $311.80 ($920.1K)
Holds 43,955 shares after this filing.
Sold on the open market — 3,998 shares at $312.65 ($1.2M)
Holds 39,957 shares after this filing.
Sold on the open market — 5,062 shares at $313.82 ($1.6M)
Holds 34,895 shares after this filing.
Sold on the open market — 3,103 shares at $314.92 ($977.2K)
Holds 31,792 shares after this filing.
Sold on the open market — 2,180 shares at $315.66 ($688.1K)
Holds 29,612 shares after this filing.
Sold on the open market — 1,280 shares at $316.92 ($405.7K)
Holds 28,332 shares after this filing.
Sold on the open market — 480 shares at $318.62 ($152.9K)
Holds 27,852 shares after this filing.
Sold on the open market — 1,403 shares at $319.41 ($448.1K)
Holds 26,449 shares after this filing.
Sold on the open market — 720 shares at $320.81 ($231.0K)
Holds 25,729 shares after this filing.
Sold on the open market — 416 shares at $322.14 ($134.0K)
Holds 25,313 shares after this filing.
Sold on the open market — 425 shares at $323.28 ($137.4K)
Holds 24,888 shares after this filing.
Sold on the open market — 335 shares at $324.44 ($108.7K)
Holds 24,553 shares after this filing.
Sold on the open market — 407 shares at $327.82 ($133.4K)
Holds 24,146 shares after this filing.
Sold on the open market — 280 shares at $328.74 ($92.0K)
Holds 23,866 shares after this filing.
Sold on the open market — 120 shares at $330.45 ($39.7K)
Holds 23,746 shares after this filing.
Sold on the open market — 637 shares at $322.64 ($205.5K)
Holds 23,109 shares after this filing.
Sold on the open market — 908 shares at $332.68 ($302.1K)
Holds 10,712 shares after this filing.
Sold on the open market — 270 shares at $345.00 ($93.2K)
Holds 8,217 shares after this filing.
Notice filed ahead of a planned sale — the sale itself has not necessarily happened yet.
Filed notice to sell 270 shares ($82.3K) on or after .
Shares originally obtained via Vested Compensation.
Filed notice to sell 265 shares ($76.4K) on or after .
Shares originally obtained via Vested Compensation.
Filed notice to sell 632 shares ($182.1K) on or after .
Shares originally obtained via Restricted Stock.
Filed notice to sell 907 shares ($263.1K) on or after .
Shares originally obtained via Performance Shares.
Filed notice to sell 908 shares ($302.1K) on or after .
Shares originally obtained via Performance Shares.
Filed notice to sell 24,771 shares ($7.8M) on or after .
Shares originally obtained via Performance Shares.
Estimated from how often this has happened before, not a confirmed date.
Not investment advice, and not a signal to act on by itself — a filing says what happened, not why, and insiders trade for ordinary reasons having nothing to do with where they think the company is headed.
Reported another event
Signed a material agreement · Took on a direct financial obligation · Sold shares outside a public offering
Read the filingReported another event
Read the filingReported another event
Read the filingHad a director or senior officer leave or join · Amended its charter or changed its financial year · Held a shareholder vote
Read the filingQuarterly report for Q1 FY2026
Revenue +26.3% · Operating margin +5.8 pts · Operating income +123.2% — against Q1 FY2025
Read the filingPublished results
Read the filingProxy statement for a shareholder meeting
Read the filingAnnual report for FY2025
Revenue +21.4% · Operating margin +6.9 pts · Operating income +359.0% — against FY2024
Read the filingPublished results
Read the filingQuarterly report for Q3 FY2025
Revenue +23.8% · Operating margin +13.6 pts · Operating income turned positive — against Q3 FY2025
Read the filingPublished results
Read the filingQuarterly report for Q2 FY2025
Revenue +21.0% · Operating margin +3.6 pts · Operating income +145.0% — against Q2 FY2025
Read the filingPublished results
Read the filingSigned a material agreement · Terminated a material agreement · Took on a direct financial obligation
Read the filingQuarterly report for Q1 FY2025
Revenue +23.5% · Operating margin +7.3 pts · Operating income +3300.0% — against Q1 FY2025
Read the filingPublished results
Read the filingHeld a shareholder vote
Read the filingThe first 40 of 67. The rest are in the exhibit.
Source: Exhibit 21 of the 10-K filed 2026-02-13. These are legal entities, not brands or acquisitions — a company that bought a business may hold it inside an entity named here, or inside one small enough that the rule does not require naming it at all.
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