Advanced Energy Industries, Inc. (AEIS) Stock

Advanced Energy Industries, Inc. (AEIS) is a Technology stock trading at $292.51 (as of 2026-08-20), with a market capitalization of $11.12B and a trailing P/E of 47.6. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Advanced Energy Industries, Inc. designs, manufactures, sells, and supports precision power conversion, measurement, and control solutions worldwide. It offers plasma power solutions, including direct current (DC), pulsed DC, low frequency alternating current, high voltage, and radio frequency (RF) power supplies, as well as RF power supplies, RF matching networks, and RF instrumentation products; and remote plasma sources for reactive gas applications. The company also provides power control modules and thermal instrumentation products for rapid thermal processing, chemical vapor deposition, epitaxy, crystal growing, and chemical processing, as well as metal, carbon fiber, and glass manufacturing and other industrial power applications; high voltage DC-DC products for semiconductor wafer processing and metrology, electrostatic clamping of substrates, scientific instrumentation, mass spectrometry, and X-ray systems for industrial and analytical applications; and low voltage DC-DC board mounted solutions for use in healthcare, telecommunications, test and measurement, instrumentation, and industrial equipment applications, as well as distributed power in server and storage systems. In addition, it offers gas sensing and monitoring products for the energy market, air quality monitoring, and automobile emission monitoring and testing; and embedded power products for medical equipment or IEC 60950-1 for information technology equipment. Further, it offers conversions, upgrades, and refurbishments and used equipment to companies, as well as repair services. The company provides its products through a direct sales force, independent sales representatives, channel partners, and distributors. Advanced Energy Industries, Inc. was incorporated in 1981 and is headquartered in Denver, Colorado.

Understand Advanced Energy Industries, Inc.: how it makes money

Advanced Energy Industries designs, manufactures, and supports precision power conversion, measurement, and control solutions, including plasma power supplies and RF power systems used in semiconductor and data center processes, and it also sells power control modules and thermal instrumentation.

The core profit engine is the step from customer design selection to qualified and shipped EVOS, Everest, and NavX systems, captured by Design Win Closure Rate and Cumulative Qualification Units Shipped (EVOS, Everest and NavX).

Revenue by segment (latest quarter)
SemicapEq$0.2B
DataCenter$0.2B
IndMed$0.1B
TelecomNet$0.0B

Business quality (Solid): The segment split provided is small and semiconductor and data center exposure dominates, while the operating metrics provided focus on design wins, qualification/shipment activity, and working capital timing.

Valuation: At 74× earnings, AEIS trades 45% above the Semiconductors average (51×). Note: one-time items can distort reported P/E.

Bull case

  • Semiconductor Equipment Revenue (0.23B) and Data Center Computing Revenue (0.19B) are the largest revenue contributors, aligning the business with demand for precision plasma and RF power solutions: Design Win Closure Rate is 40.0%, which suggests progress from design activity to closed customer programs.
  • The business shows measurable forward activity for its EVOS and Everest systems: EVOS and Everest Systems Requested Before Year End is 150.0, supporting visibility into near-term qualification and shipment pipelines.
  • Working-capital efficiency indicators appear manageable: Inventory Turns is 2.9 and Days Sales Outstanding is 60.0, which are commonly used to monitor cash conversion.

Bear case

  • Revenue concentration risk across the largest end-markets: Semiconductor Equipment Revenue (0.23B) and Data Center Computing Revenue (0.19B) together account for most of the provided segment revenue totals.
  • Qualification and shipments may not scale smoothly even when design wins are closed: Cumulative Qualification Units Shipped (EVOS, Everest and NavX) is 350.0, but the relationship between qualification progress and revenue timing is not guaranteed.
  • Working capital can absorb cash if inventory or payables timing worsens: Inventory Days is 125.0 and Networking Capital is 119.0, both of which can be red flags if they trend higher.
Valuation — source: SEC EDGAR (first-party)
Price$292.51
Market Cap$11.12B
P/E Ratio47.6
EV / EBITDA28.1
Price / Book7.64
Price / Sales5.40
FCF Yield-0.1%
DCF Value (model)$22.65
DCF Upside vs Price-92.3%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$1.80B
Net Margin8.2%
Revenue Growth (YoY)21.4%
EPS Growth (YoY)172.4%
FCF Growth (YoY)70.2%
Financial Health — source: SEC EDGAR
Altman Z-Score7.42 (safe)
Piotroski F-Score6/9 (moderate)
Valuation vs Sector & Industry
Stock P/E47.6
Sector P/E (Technology)33.9
Industry P/E (Electronic Equipment)39.4
vs Sector40.2%
vs Industry20.7%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock, Inc. ($2.09B)
Institutional Holders Tracked10
Congressional Trades (recent)7
Company
SectorTechnology
IndustryElectronic Equipment
CEOStephen D. Kelley
Employees10,000
CountryUS
IPO Date1995-11-17

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AEIS earnings history · AEIS institutional & insider holders · AEIS KPIs & operating metrics · AEIS financials · AEIS investor presentations & press releases · AEIS SEC filings · AEIS peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.