Is the business good?
How good a business is AEIS?
Advanced Energy Industries, Inc. earns 13% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
13%
Return on invested capital · cost of capital 9.0% · 4.0 points above what the capital costs: growth creates value
- Operating margin
- 11%
Operating margin · Electrical Equipment & Parts median 7.3% · 12 months to Q1 2026
- Cash conversion
- 0.36×
Cash conversion · 1.34× a year ago · some of the reported profit has not turned into cash yet
- Share count, year on year
- +11%
Share count, year on year · shareholders own a smaller slice than a year ago
| Year | Operating margin |
|---|---|
| FY2020 | 12% |
| FY2021 | 10% |
| FY2022 | 13% |
| FY2023 | 6.9% |
| FY2024 | 2.5% |
| FY2025 | 9.3% |
Details›
- Gross margin12 months to Q1 2026
- 38%
- Operating margin12 months to Q1 2026
- 11%
- Net margin12 months to Q1 2026
- 10%
- Free cash flow margin
- 3.6%
- R&D as % of revenue
- 13%
- Revenue, trailing twelve months
- $1.91B
- Free cash flow, trailing twelve months
- $68M
- Net income, trailing twelve months
- $191M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 13%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Electrical Equipment & Parts
Ranks #12 of 20 by Smart Score