Is the business good?
How good a business is ACLS?
Axcelis Technologies, Inc. earns 11% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
11%
Return on invested capital · cost of capital 9.0% · 2.4 points above what the capital costs: growth creates value
- Operating margin
- 12%
Operating margin · Semiconductor Equipment & Materials median 8.4% · 12 months to Q1 2026
- Share count, year on year
- −4.2%
Share count, year on year · bought back, each share owns more of the company
- R&D as % of revenue
- 13%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2020 | 12% |
| FY2021 | 19% |
| FY2022 | 23% |
| FY2023 | 24% |
| FY2024 | 21% |
| FY2025 | 14% |
Details›
- Gross margin12 months to Q1 2026
- 44%
- Operating margin12 months to Q1 2026
- 12%
- Free cash flow margin
- 10%
- R&D as % of revenue
- 13%
- Revenue, trailing twelve months
- $845M
- Free cash flow, trailing twelve months
- $88M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 11%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Semiconductor Equipment & Materials
Ranks #16 of 22 by Smart Score