Axcelis Technologies, Inc. (ACLS) 10-Year Financial Performance & Capital Metrics

ACLS • • Industrial / General

TechnologySemiconductorsSemiconductor Manufacturing EquipmentWafer Fabrication Equipment

AboutAxcelis Technologies, Inc. designs, manufactures, and services ion implantation and other processing equipment used in the fabrication of semiconductor chips in the United States, Europe, and Asia. The company offers high energy, high current, and medium current implanters for various application requirements. It also provides aftermarket lifecycle products and services, including used tools, spare parts, equipment upgrades, maintenance services, and customer training. It sells its equipment and services to semiconductor chip manufacturers through its direct sales force. The company was founded in 1978 and is headquartered in Beverly, Massachusetts.Show more

Revenue $1.02B -10.0%
EBITDA $227M -18.7%
Net Income $201M -18.4%
EPS (Diluted) 6.15 -17.2%
Gross Margin 44.67% +2.8%
EBITDA Margin 22.26% -9.7%
Operating Margin 20.71% -11.9%
Net Margin 19.75% -9.3%
ROE 21.41% -33.4%
ROIC 18.87% -39.9%
Debt/Equity 0.04 -17.5%
Interest Coverage 38.59 -22.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Excellent 3Y average ROE of 28.0%
✓Strong 5Y profit CAGR of 63.8%
✓Strong 5Y sales CAGR of 24.3%
✓Healthy 5Y average net margin of 17.4%

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y17.49%

5Y24.31%

3Y15.39%

TTM-20.69%

Profit (Net Income) CAGR

10Y-

5Y63.82%

3Y26.77%

TTM-38.81%

EPS CAGR

10Y-

5Y65.19%

3Y28.77%

TTM-37.43%

ROCE

10Y Avg16.37%

5Y Avg22.91%

3Y Avg26.97%

Latest19.72%

Peer Comparison

Wafer Fabrication Equipment

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
UCTTUltra Clean Holdings, Inc.	1.87B	41.10	79.04	20.93%	-7.52%	-20.33%	0.08%	0.71
ASMLASML Holding N.V.	490.51B	1263.72	65.68	2.56%	30.58%	51.86%	1.94%	0.27
LRCXLam Research Corporation	262.25B	208.79	50.31	23.68%	29.66%	57.01%	2.06%	0.48
AMATApplied Materials, Inc.	239.38B	301.89	34.86	4.39%	24.67%	34.28%	2.38%	0.32
ACMRACM Research, Inc.	3.02B	50.49	33	40.23%	13.3%	6.21%	2.32%	0.17
VECOVeeco Instruments Inc.	2.01B	33.28	27.06	7.63%	7.23%	5.62%	2.28%	0.41
ACLSAxcelis Technologies, Inc.	2.86B	93.22	15.16	-9.97%	15.93%	13.32%	4.5%	0.04
ASYSAmtech Systems, Inc.	199.27M	13.88	-23.13	-10.68%	-38.18%	-61.74%	2.49%	0.21

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	301.5M	266.98M	410.56M	442.57M	342.96M	474.56M	662.43M	920M	1.13B	1.02B
Revenue Growth %	0.48%	-0.11%	0.54%	0.08%	-0.23%	0.38%	0.4%	0.39%	0.23%	-0.1%
Cost of Goods Sold+	199.79M	167.38M	260.31M	262.94M	198.81M	275.98M	375.98M	518.21M	639.3M	563.21M
COGS % of Revenue	0.66%	0.63%	0.63%	0.59%	0.58%	0.58%	0.57%	0.56%	0.57%	0.55%
Gross Profit+	101.71M	99.6M	150.25M	179.64M	144.15M	198.58M	286.44M	401.79M	491.3M	454.65M
Gross Margin %	0.34%	0.37%	0.37%	0.41%	0.42%	0.42%	0.43%	0.44%	0.43%	0.45%
Gross Profit Growth %	0.45%	-0.02%	0.51%	0.2%	-0.2%	0.38%	0.44%	0.4%	0.22%	-0.07%
Operating Expenses+	80.97M	82.69M	102.41M	119.68M	119.95M	140.54M	159.12M	189.43M	225.51M	243.86M
OpEx % of Revenue	0.27%	0.31%	0.25%	0.27%	0.35%	0.3%	0.24%	0.21%	0.2%	0.24%
Selling, General & Admin	48.38M	48.29M	59.33M	67.8M	66.02M	78.71M	93.69M	111.07M	128.6M	138.36M
SG&A % of Revenue	0.16%	0.18%	0.14%	0.15%	0.19%	0.17%	0.14%	0.12%	0.11%	0.14%
Research & Development	32.59M	34.4M	43.07M	51.88M	53.93M	61.83M	65.43M	78.36M	96.91M	105.5M
R&D % of Revenue	0.11%	0.13%	0.1%	0.12%	0.16%	0.13%	0.1%	0.09%	0.09%	0.1%
Other Operating Expenses	-601K	-764K	396K	0	0	0	0	0	0	0
Operating Income+	20.72M	16.62M	47.84M	59.96M	24.2M	58.04M	127.33M	212.36M	265.8M	210.79M
Operating Margin %	0.07%	0.06%	0.12%	0.14%	0.07%	0.12%	0.19%	0.23%	0.24%	0.21%
Operating Income Growth %	2.94%	-0.2%	1.88%	0.25%	-0.6%	1.4%	1.19%	0.67%	0.25%	-0.21%
EBITDA+	25.59M	20.88M	52.84M	65.73M	32.09M	67.98M	138.14M	223.97M	278.86M	226.6M
EBITDA Margin %	0.08%	0.08%	0.13%	0.15%	0.09%	0.14%	0.21%	0.24%	0.25%	0.22%
EBITDA Growth %	5.21%	-0.18%	1.53%	0.24%	-0.51%	1.12%	1.03%	0.62%	0.25%	-0.19%
D&A (Non-Cash Add-back)	4.87M	4.26M	5M	5.77M	7.88M	9.94M	10.82M	11.61M	13.07M	15.81M
EBIT	20.74M	16.1M	47.84M	59.96M	26.08M	61.1M	125.26M	210.46M	283.95M	235.74M
Net Interest Income+	-4.91M	-4.83M	-4.41M	-2.78M	-2.2M	-4.47M	-4.63M	-1.02M	12.85M	18.94M
Interest Income	64K	238K	714K	2.33M	2.96M	738K	209K	4.55M	18.2M	24.4M
Interest Expense	4.98M	5.07M	5.12M	5.11M	5.16M	5.21M	4.83M	5.58M	5.35M	5.46M
Other Income/Expense	-5.51M	-5.6M	-4.01M	-5.25M	-3.28M	-2.15M	-6.9M	-7.48M	12.8M	19.48M
Pretax Income+	15.21M	11.02M	43.83M	54.7M	20.92M	55.89M	120.43M	204.88M	278.6M	230.27M
Pretax Margin %	0.05%	0.04%	0.11%	0.12%	0.06%	0.12%	0.18%	0.22%	0.25%	0.23%
Income Tax+	527K	23K	-83.13M	8.82M	3.89M	5.9M	21.78M	21.81M	32.34M	29.28M
Effective Tax Rate %	0.97%	1%	2.9%	0.84%	0.81%	0.89%	0.82%	0.89%	0.88%	0.87%
Net Income+	14.68M	11M	126.96M	45.88M	17.03M	49.98M	98.65M	183.08M	246.26M	200.99M
Net Margin %	0.05%	0.04%	0.31%	0.1%	0.05%	0.11%	0.15%	0.2%	0.22%	0.2%
Net Income Growth %	2.3%	-0.25%	10.54%	-0.64%	-0.63%	1.93%	0.97%	0.86%	0.35%	-0.18%
Net Income (Continuing)	14.68M	11M	126.96M	45.88M	17.03M	49.98M	98.65M	183.08M	246.26M	200.99M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.48	0.36	3.80	1.35	0.50	1.46	2.88	5.46	7.43	6.15
EPS Growth %	2.2%	-0.25%	9.56%	-0.64%	-0.63%	1.92%	0.97%	0.9%	0.36%	-0.17%
EPS (Basic)	0.52	0.38	4.11	1.35	0.52	1.50	2.94	5.54	7.52	6.17
Diluted Shares Outstanding	30.23M	30.95M	33.44M	34M	33.83M	34.13M	34.27M	33.54M	33.16M	32.7M
Basic Shares Outstanding	28.59M	29.2M	30.87M	33.99M	32.56M	33.26M	33.55M	33.04M	32.76M	32.55M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	231.66M	235.22M	361.43M	396.77M	375.68M	470.79M	619.25M	877.64M	1.08B	1.12B
Cash & Short-Term Investments	78.89M	70.79M	133.41M	177.99M	139.88M	203.48M	294.92M	432.17M	506.15M	571.34M
Cash Only	78.89M	70.79M	133.41M	177.99M	139.88M	203.48M	294.92M	185.59M	167.3M	123.51M
Short-Term Investments	0	0	0	0	0	0	0	246.57M	338.85M	447.83M
Accounts Receivable	36.87M	50.57M	75.3M	78.73M	83.75M	86.86M	104.41M	169.77M	217.96M	203.15M
Days Sales Outstanding	44.63	69.14	66.95	64.93	89.14	66.81	57.53	67.36	70.37	72.85
Inventory	115.9M	113.85M	120.54M	129M	140.36M	161.08M	194.98M	242.41M	306.48M	282.23M
Days Inventory Outstanding	211.75	248.27	169.02	179.07	257.7	213.04	189.29	170.74	174.98	182.9
Other Current Assets	4.79M	5.51M	750K	11.05M	0	0	0	33.3M	49.4M	60.47M
Total Non-Current Assets+	56.62M	67.01M	126.79M	151.67M	172.41M	153.83M	133.99M	136M	201.98M	225.17M
Property, Plant & Equipment	30.03M	30.84M	36.17M	41.15M	53.06M	54.93M	63.45M	69.75M	101.32M	98.75M
Fixed Asset Turnover	10.04x	8.66x	11.35x	10.76x	6.46x	8.64x	10.44x	13.19x	11.16x	10.31x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	6.94M	6.86M	6.72M	6.91M	0	0	0	0	0	0
Other Non-Current Assets	19.65M	29.31M	7.47M	38.58M	51.3M	41.06M	35.09M	34.54M	47.23M	58.15M
Total Assets+	288.28M	302.23M	488.22M	548.44M	548.09M	624.62M	753.24M	1.01B	1.28B	1.35B
Asset Turnover	1.05x	0.88x	0.84x	0.81x	0.63x	0.76x	0.88x	0.91x	0.88x	0.75x
Asset Growth %	0.27%	0.05%	0.62%	0.12%	-0%	0.14%	0.21%	0.35%	0.26%	0.05%
Total Current Liabilities+	41.15M	44.05M	76.52M	85M	68.66M	84.43M	150.14M	248.13M	285.13M	207.52M
Accounts Payable	19.85M	25M	32.64M	35.95M	25.34M	24.01M	38.02M	62.35M	54.4M	46.93M
Days Payables Outstanding	36.26	54.51	45.77	49.91	46.53	31.76	36.91	43.91	31.06	30.41
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	7.45M	7.02M	26.08M	9.85M	15.27M	37.79M	49.8M	56.78M	58.38M	64.58M
Current Ratio	5.63x	5.34x	4.72x	4.67x	5.47x	5.58x	4.12x	3.54x	3.79x	5.41x
Quick Ratio	2.81x	2.75x	3.15x	3.15x	3.43x	3.67x	2.83x	2.56x	2.71x	4.05x
Cash Conversion Cycle	220.12	262.91	190.2	194.09	300.31	248.09	209.9	194.18	214.29	225.34
Total Non-Current Liabilities+	56.87M	56.72M	58.09M	55.11M	60M	58.59M	64.14M	98.25M	131.96M	128.47M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	47.59M	47.59M	47.71M	47.76M	48.15M	47.39M	46.41M	45.19M	43.67M	42.33M
Deferred Tax Liabilities	-679K	-674K	-1.96M	0	0	0	0	0	0	0
Other Non-Current Liabilities	5.39M	4.79M	5.64M	4.28M	7.2M	9.36M	9.74M	21.76M	42.07M	42.64M
Total Liabilities	98.02M	100.78M	134.61M	140.1M	128.67M	143.02M	214.28M	346.38M	417.08M	335.99M
Total Debt+	47.59M	47.59M	47.71M	47.76M	48.55M	48.15M	47.39M	46.41M	45.19M	43.67M
Net Debt	-31.3M	-23.2M	-85.69M	-130.24M	-91.33M	-155.33M	-247.53M	-139.18M	-122.11M	-79.84M
Debt / Equity	0.25x	0.24x	0.13x	0.12x	0.12x	0.10x	0.09x	0.07x	0.05x	0.04x
Debt / EBITDA	1.86x	2.28x	0.90x	0.73x	1.51x	0.71x	0.34x	0.21x	0.16x	0.19x
Net Debt / EBITDA	-1.22x	-1.11x	-1.62x	-1.98x	-2.85x	-2.28x	-1.79x	-0.62x	-0.44x	-0.35x
Interest Coverage	4.16x	3.28x	9.34x	11.73x	4.70x	11.14x	26.33x	38.08x	49.71x	38.59x
Total Equity+	190.26M	201.46M	353.61M	408.34M	419.43M	481.6M	538.96M	667.26M	864.88M	1.01B
Equity Growth %	0.13%	0.06%	0.76%	0.15%	0.03%	0.15%	0.12%	0.24%	0.3%	0.17%
Book Value per Share	6.29	6.51	10.58	12.01	12.40	14.11	15.73	19.89	26.08	30.97
Total Shareholders' Equity	190.26M	201.46M	353.61M	408.34M	419.43M	481.6M	538.96M	667.26M	864.88M	1.01B
Common Stock	116K	30K	32K	33K	33K	34K	33K	33K	33K	32K
Retained Earnings	-336.21M	-331.7M	-204.75M	-157.26M	-140.23M	-91.97M	-22.72M	118.89M	319.51M	470.32M
Treasury Stock	-1.22M	0	0	0	0	0	0	0	0	0
Accumulated OCI	-1.43M	-2.28M	2.18M	448K	-258K	3.44M	1.76M	-1.97M	-1.85M	-6.21M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	18.26M	-8.8M	56.28M	46.97M	-13.59M	69.7M	150.19M	215.61M	156.87M	140.82M
Operating CF Margin %	0.06%	-0.03%	0.14%	0.11%	-0.04%	0.15%	0.23%	0.23%	0.14%	0.14%
Operating CF Growth %	2.14%	-1.48%	7.4%	-0.17%	-1.29%	6.13%	1.15%	0.44%	-0.27%	-0.1%
Net Income	14.68M	11M	126.96M	45.88M	17.03M	49.98M	98.65M	183.08M	246.26M	200.99M
Depreciation & Amortization	4.87M	4.26M	5M	5.77M	7.88M	9.94M	10.82M	11.61M	13.07M	15.81M
Stock-Based Compensation	5.58M	5.18M	5.67M	7.78M	8.17M	10.48M	12.07M	13.44M	18.27M	20.95M
Deferred Taxes	779K	519K	-82.08M	11.21M	3.3M	4.68M	20.26M	8.54M	-20.02M	-15.59M
Other Non-Cash Items	1.72M	909K	-8.13M	2.21M	3.61M	3.53M	3.75M	10.55M	-3.48M	4.06M
Working Capital Changes	-9.36M	-30.66M	8.87M	-25.89M	-53.6M	-8.92M	4.64M	-11.61M	-97.23M	-85.4M
Change in Receivables	5.17M	-14.13M	-23.57M	-3.88M	-6M	-1.39M	-18.15M	-67.27M	-50.76M	6.91M
Change in Inventory	-15.94M	-6.57M	5.7M	-10.51M	-17.95M	-17.65M	-39.02M	-58.43M	-69.96M	5.92M
Change in Payables	6M	799K	25M	-703K	-19.15M	18.06M	22.05M	31.39M	-8.1M	-413K
Cash from Investing+	-1.83M	-2.24M	-7.29M	-4.71M	-11.97M	-7.27M	-8.72M	-257.25M	-100.86M	-108.73M
Capital Expenditures	-1.83M	-2.51M	-7.29M	-4.71M	-11.97M	-7.43M	-8.72M	-10.68M	-20.66M	-12.18M
CapEx % of Revenue	0.01%	0.01%	0.02%	0.01%	0.03%	0.02%	0.01%	0.01%	0.02%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-1.83M	270K	0	-4.71M	0	0	0	0	0	0
Cash from Financing+	31.42M	2.43M	15.07M	1.19M	-13.41M	-2.39M	-52.45M	-65.48M	-68.27M	-71.19M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	46.34M	2.43M	15.07M	1.19M	4.34M	5.51M	-1.7M	-7M	-14.53M	-9.18M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	16.43M	-11.3M	49M	42.25M	-25.56M	62.27M	141.47M	204.92M	136.21M	128.64M
FCF Margin %	0.05%	-0.04%	0.12%	0.1%	-0.07%	0.13%	0.21%	0.22%	0.12%	0.13%
FCF Growth %	1.96%	-1.69%	5.33%	-0.14%	-1.61%	3.44%	1.27%	0.45%	-0.34%	-0.06%
FCF per Share	0.54	-0.37	1.47	1.24	-0.76	1.82	4.13	6.11	4.11	3.93
FCF Conversion (FCF/Net Income)	1.24x	-0.80x	0.44x	1.02x	-0.80x	1.39x	1.52x	1.18x	0.64x	0.70x
Interest Paid	3.98M	4.82M	5.32M	5.47M	5.21M	5.16M	5.09M	4.99M	4.87M	4.73M
Taxes Paid	669K	525K	583K	858K	1.03M	876K	1.5M	10.76M	54.22M	61.13M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	8.19%	5.62%	45.75%	12.04%	4.12%	11.09%	19.33%	30.36%	32.15%	21.41%
Return on Invested Capital (ROIC)	9.99%	7.39%	16.08%	16.47%	5.99%	13.3%	30.92%	38.87%	31.37%	18.87%
Gross Margin	33.73%	37.31%	36.6%	40.59%	42.03%	41.85%	43.24%	43.67%	43.45%	44.67%
Net Margin	4.87%	4.12%	30.92%	10.37%	4.97%	10.53%	14.89%	19.9%	21.78%	19.75%
Debt / Equity	0.25x	0.24x	0.13x	0.12x	0.12x	0.10x	0.09x	0.07x	0.05x	0.04x
Interest Coverage	4.16x	3.28x	9.34x	11.73x	4.70x	11.14x	26.33x	38.08x	49.71x	38.59x
FCF Conversion	1.24x	-0.80x	0.44x	1.02x	-0.80x	1.39x	1.52x	1.18x	0.64x	0.70x
Revenue Growth	48.48%	-11.45%	53.78%	7.8%	-22.51%	38.37%	39.59%	38.88%	22.89%	-9.97%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Systems	-	-	-	-	-	-	454.6M	692.06M	883.6M	782.56M
Systems Growth	-	-	-	-	-	-	-	52.24%	27.68%	-11.44%
Aftermarket	-	-	-	-	-	-	207.83M	227.94M	247M	235.31M
Aftermarket Growth	-	-	-	-	-	-	-	9.67%	8.36%	-4.73%
New Systems Revenue	-	-	-	280.39M	202.57M	293.62M	-	-	-	-
New Systems Revenue Growth	-	-	-	-	-27.75%	44.95%	-	-	-	-
Cs I Or Aftermarket	-	-	-	-	-	180.94M	-	-	-	-
Cs I Or Aftermarket Growth	-	-	-	-	-	-	-	-	-	-
After Market	-	-	-	162.19M	140.39M	-	-	-	-	-
After Market Growth	-	-	-	-	-13.44%	-	-	-	-	-
Ion Implantation Systems Services And Royalties	282.62M	248.88M	391.05M	-	-	-	-	-	-	-
Ion Implantation Systems Services And Royalties Growth	-	-11.94%	57.12%	-	-	-	-	-	-	-
Other Products Systems Services And Royalties	18.87M	18.09M	19.51M	-	-	-	-	-	-	-
Other Products Systems Services And Royalties Growth	-	-4.11%	7.82%	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Asia Pacific	50.4M	50.28M	69.71M	70.36M	58.12M	94.51M	106.4M	246.95M	811.31M	781.04M
Asia Pacific Growth	-	-0.22%	38.63%	0.93%	-17.39%	62.61%	12.57%	132.10%	228.53%	-3.73%
North America	226.89M	191.26M	313.92M	342.8M	256.09M	351.07M	519.41M	634.08M	174.81M	144.07M
North America Growth	-	-15.70%	64.13%	9.20%	-25.29%	37.09%	47.95%	22.08%	-72.43%	-17.59%
Europe	24.21M	25.44M	26.94M	29.42M	28.74M	28.98M	36.62M	38.96M	144.49M	92.76M
Europe Growth	-	5.07%	5.90%	9.21%	-2.29%	0.81%	26.38%	6.39%	270.83%	-35.80%

Frequently Asked Questions

Valuation & Price

Axcelis Technologies, Inc. (ACLS) has a price-to-earnings (P/E) ratio of 15.2x. This is roughly in line with market averages.

Growth & Financials

Axcelis Technologies, Inc. (ACLS) reported $853.1M in revenue for fiscal year 2024. This represents a 167% increase from $319.4M in 2011.

Axcelis Technologies, Inc. (ACLS) saw revenue decline by 10.0% over the past year.

Yes, Axcelis Technologies, Inc. (ACLS) is profitable, generating $135.9M in net income for fiscal year 2024 (19.7% net margin).

Dividend & Returns

Axcelis Technologies, Inc. (ACLS) has a return on equity (ROE) of 21.4%. This is excellent, indicating efficient use of shareholder capital.

Axcelis Technologies, Inc. (ACLS) generated $124.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

...

Axcelis Technologies, Inc. (ACLS) 10-Year Financial Performance & Capital Metrics

ACLS • • Industrial / General

TechnologySemiconductorsSemiconductor Manufacturing EquipmentWafer Fabrication Equipment

Revenue $1.02B -10.0%
EBITDA $227M -18.7%
Net Income $201M -18.4%
EPS (Diluted) 6.15 -17.2%
Gross Margin 44.67% +2.8%
EBITDA Margin 22.26% -9.7%
Operating Margin 20.71% -11.9%
Net Margin 19.75% -9.3%
ROE 21.41% -33.4%
ROIC 18.87% -39.9%
Debt/Equity 0.04 -17.5%
Interest Coverage 38.59 -22.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Excellent 3Y average ROE of 28.0%
✓Strong 5Y profit CAGR of 63.8%
✓Strong 5Y sales CAGR of 24.3%
✓Healthy 5Y average net margin of 17.4%

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y17.49%

5Y24.31%

3Y15.39%

TTM-20.69%

Profit (Net Income) CAGR

10Y-

5Y63.82%

3Y26.77%

TTM-38.81%

EPS CAGR

10Y-

5Y65.19%

3Y28.77%

TTM-37.43%

ROCE

10Y Avg16.37%

5Y Avg22.91%

3Y Avg26.97%

Latest19.72%

Peer Comparison

Wafer Fabrication Equipment

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
UCTTUltra Clean Holdings, Inc.	1.87B	41.10	79.04	20.93%	-7.52%	-20.33%	0.08%	0.71
ASMLASML Holding N.V.	490.51B	1263.72	65.68	2.56%	30.58%	51.86%	1.94%	0.27
LRCXLam Research Corporation	262.25B	208.79	50.31	23.68%	29.66%	57.01%	2.06%	0.48
AMATApplied Materials, Inc.	239.38B	301.89	34.86	4.39%	24.67%	34.28%	2.38%	0.32
ACMRACM Research, Inc.	3.02B	50.49	33	40.23%	13.3%	6.21%	2.32%	0.17
VECOVeeco Instruments Inc.	2.01B	33.28	27.06	7.63%	7.23%	5.62%	2.28%	0.41
ACLSAxcelis Technologies, Inc.	2.86B	93.22	15.16	-9.97%	15.93%	13.32%	4.5%	0.04
ASYSAmtech Systems, Inc.	199.27M	13.88	-23.13	-10.68%	-38.18%	-61.74%	2.49%	0.21

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	301.5M	266.98M	410.56M	442.57M	342.96M	474.56M	662.43M	920M	1.13B	1.02B
Revenue Growth %	0.48%	-0.11%	0.54%	0.08%	-0.23%	0.38%	0.4%	0.39%	0.23%	-0.1%
Cost of Goods Sold+	199.79M	167.38M	260.31M	262.94M	198.81M	275.98M	375.98M	518.21M	639.3M	563.21M
COGS % of Revenue	0.66%	0.63%	0.63%	0.59%	0.58%	0.58%	0.57%	0.56%	0.57%	0.55%
Gross Profit+	101.71M	99.6M	150.25M	179.64M	144.15M	198.58M	286.44M	401.79M	491.3M	454.65M
Gross Margin %	0.34%	0.37%	0.37%	0.41%	0.42%	0.42%	0.43%	0.44%	0.43%	0.45%
Gross Profit Growth %	0.45%	-0.02%	0.51%	0.2%	-0.2%	0.38%	0.44%	0.4%	0.22%	-0.07%
Operating Expenses+	80.97M	82.69M	102.41M	119.68M	119.95M	140.54M	159.12M	189.43M	225.51M	243.86M
OpEx % of Revenue	0.27%	0.31%	0.25%	0.27%	0.35%	0.3%	0.24%	0.21%	0.2%	0.24%
Selling, General & Admin	48.38M	48.29M	59.33M	67.8M	66.02M	78.71M	93.69M	111.07M	128.6M	138.36M
SG&A % of Revenue	0.16%	0.18%	0.14%	0.15%	0.19%	0.17%	0.14%	0.12%	0.11%	0.14%
Research & Development	32.59M	34.4M	43.07M	51.88M	53.93M	61.83M	65.43M	78.36M	96.91M	105.5M
R&D % of Revenue	0.11%	0.13%	0.1%	0.12%	0.16%	0.13%	0.1%	0.09%	0.09%	0.1%
Other Operating Expenses	-601K	-764K	396K	0	0	0	0	0	0	0
Operating Income+	20.72M	16.62M	47.84M	59.96M	24.2M	58.04M	127.33M	212.36M	265.8M	210.79M
Operating Margin %	0.07%	0.06%	0.12%	0.14%	0.07%	0.12%	0.19%	0.23%	0.24%	0.21%
Operating Income Growth %	2.94%	-0.2%	1.88%	0.25%	-0.6%	1.4%	1.19%	0.67%	0.25%	-0.21%
EBITDA+	25.59M	20.88M	52.84M	65.73M	32.09M	67.98M	138.14M	223.97M	278.86M	226.6M
EBITDA Margin %	0.08%	0.08%	0.13%	0.15%	0.09%	0.14%	0.21%	0.24%	0.25%	0.22%
EBITDA Growth %	5.21%	-0.18%	1.53%	0.24%	-0.51%	1.12%	1.03%	0.62%	0.25%	-0.19%
D&A (Non-Cash Add-back)	4.87M	4.26M	5M	5.77M	7.88M	9.94M	10.82M	11.61M	13.07M	15.81M
EBIT	20.74M	16.1M	47.84M	59.96M	26.08M	61.1M	125.26M	210.46M	283.95M	235.74M
Net Interest Income+	-4.91M	-4.83M	-4.41M	-2.78M	-2.2M	-4.47M	-4.63M	-1.02M	12.85M	18.94M
Interest Income	64K	238K	714K	2.33M	2.96M	738K	209K	4.55M	18.2M	24.4M
Interest Expense	4.98M	5.07M	5.12M	5.11M	5.16M	5.21M	4.83M	5.58M	5.35M	5.46M
Other Income/Expense	-5.51M	-5.6M	-4.01M	-5.25M	-3.28M	-2.15M	-6.9M	-7.48M	12.8M	19.48M
Pretax Income+	15.21M	11.02M	43.83M	54.7M	20.92M	55.89M	120.43M	204.88M	278.6M	230.27M
Pretax Margin %	0.05%	0.04%	0.11%	0.12%	0.06%	0.12%	0.18%	0.22%	0.25%	0.23%
Income Tax+	527K	23K	-83.13M	8.82M	3.89M	5.9M	21.78M	21.81M	32.34M	29.28M
Effective Tax Rate %	0.97%	1%	2.9%	0.84%	0.81%	0.89%	0.82%	0.89%	0.88%	0.87%
Net Income+	14.68M	11M	126.96M	45.88M	17.03M	49.98M	98.65M	183.08M	246.26M	200.99M
Net Margin %	0.05%	0.04%	0.31%	0.1%	0.05%	0.11%	0.15%	0.2%	0.22%	0.2%
Net Income Growth %	2.3%	-0.25%	10.54%	-0.64%	-0.63%	1.93%	0.97%	0.86%	0.35%	-0.18%
Net Income (Continuing)	14.68M	11M	126.96M	45.88M	17.03M	49.98M	98.65M	183.08M	246.26M	200.99M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.48	0.36	3.80	1.35	0.50	1.46	2.88	5.46	7.43	6.15
EPS Growth %	2.2%	-0.25%	9.56%	-0.64%	-0.63%	1.92%	0.97%	0.9%	0.36%	-0.17%
EPS (Basic)	0.52	0.38	4.11	1.35	0.52	1.50	2.94	5.54	7.52	6.17
Diluted Shares Outstanding	30.23M	30.95M	33.44M	34M	33.83M	34.13M	34.27M	33.54M	33.16M	32.7M
Basic Shares Outstanding	28.59M	29.2M	30.87M	33.99M	32.56M	33.26M	33.55M	33.04M	32.76M	32.55M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	231.66M	235.22M	361.43M	396.77M	375.68M	470.79M	619.25M	877.64M	1.08B	1.12B
Cash & Short-Term Investments	78.89M	70.79M	133.41M	177.99M	139.88M	203.48M	294.92M	432.17M	506.15M	571.34M
Cash Only	78.89M	70.79M	133.41M	177.99M	139.88M	203.48M	294.92M	185.59M	167.3M	123.51M
Short-Term Investments	0	0	0	0	0	0	0	246.57M	338.85M	447.83M
Accounts Receivable	36.87M	50.57M	75.3M	78.73M	83.75M	86.86M	104.41M	169.77M	217.96M	203.15M
Days Sales Outstanding	44.63	69.14	66.95	64.93	89.14	66.81	57.53	67.36	70.37	72.85
Inventory	115.9M	113.85M	120.54M	129M	140.36M	161.08M	194.98M	242.41M	306.48M	282.23M
Days Inventory Outstanding	211.75	248.27	169.02	179.07	257.7	213.04	189.29	170.74	174.98	182.9
Other Current Assets	4.79M	5.51M	750K	11.05M	0	0	0	33.3M	49.4M	60.47M
Total Non-Current Assets+	56.62M	67.01M	126.79M	151.67M	172.41M	153.83M	133.99M	136M	201.98M	225.17M
Property, Plant & Equipment	30.03M	30.84M	36.17M	41.15M	53.06M	54.93M	63.45M	69.75M	101.32M	98.75M
Fixed Asset Turnover	10.04x	8.66x	11.35x	10.76x	6.46x	8.64x	10.44x	13.19x	11.16x	10.31x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	6.94M	6.86M	6.72M	6.91M	0	0	0	0	0	0
Other Non-Current Assets	19.65M	29.31M	7.47M	38.58M	51.3M	41.06M	35.09M	34.54M	47.23M	58.15M
Total Assets+	288.28M	302.23M	488.22M	548.44M	548.09M	624.62M	753.24M	1.01B	1.28B	1.35B
Asset Turnover	1.05x	0.88x	0.84x	0.81x	0.63x	0.76x	0.88x	0.91x	0.88x	0.75x
Asset Growth %	0.27%	0.05%	0.62%	0.12%	-0%	0.14%	0.21%	0.35%	0.26%	0.05%
Total Current Liabilities+	41.15M	44.05M	76.52M	85M	68.66M	84.43M	150.14M	248.13M	285.13M	207.52M
Accounts Payable	19.85M	25M	32.64M	35.95M	25.34M	24.01M	38.02M	62.35M	54.4M	46.93M
Days Payables Outstanding	36.26	54.51	45.77	49.91	46.53	31.76	36.91	43.91	31.06	30.41
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	7.45M	7.02M	26.08M	9.85M	15.27M	37.79M	49.8M	56.78M	58.38M	64.58M
Current Ratio	5.63x	5.34x	4.72x	4.67x	5.47x	5.58x	4.12x	3.54x	3.79x	5.41x
Quick Ratio	2.81x	2.75x	3.15x	3.15x	3.43x	3.67x	2.83x	2.56x	2.71x	4.05x
Cash Conversion Cycle	220.12	262.91	190.2	194.09	300.31	248.09	209.9	194.18	214.29	225.34
Total Non-Current Liabilities+	56.87M	56.72M	58.09M	55.11M	60M	58.59M	64.14M	98.25M	131.96M	128.47M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	47.59M	47.59M	47.71M	47.76M	48.15M	47.39M	46.41M	45.19M	43.67M	42.33M
Deferred Tax Liabilities	-679K	-674K	-1.96M	0	0	0	0	0	0	0
Other Non-Current Liabilities	5.39M	4.79M	5.64M	4.28M	7.2M	9.36M	9.74M	21.76M	42.07M	42.64M
Total Liabilities	98.02M	100.78M	134.61M	140.1M	128.67M	143.02M	214.28M	346.38M	417.08M	335.99M
Total Debt+	47.59M	47.59M	47.71M	47.76M	48.55M	48.15M	47.39M	46.41M	45.19M	43.67M
Net Debt	-31.3M	-23.2M	-85.69M	-130.24M	-91.33M	-155.33M	-247.53M	-139.18M	-122.11M	-79.84M
Debt / Equity	0.25x	0.24x	0.13x	0.12x	0.12x	0.10x	0.09x	0.07x	0.05x	0.04x
Debt / EBITDA	1.86x	2.28x	0.90x	0.73x	1.51x	0.71x	0.34x	0.21x	0.16x	0.19x
Net Debt / EBITDA	-1.22x	-1.11x	-1.62x	-1.98x	-2.85x	-2.28x	-1.79x	-0.62x	-0.44x	-0.35x
Interest Coverage	4.16x	3.28x	9.34x	11.73x	4.70x	11.14x	26.33x	38.08x	49.71x	38.59x
Total Equity+	190.26M	201.46M	353.61M	408.34M	419.43M	481.6M	538.96M	667.26M	864.88M	1.01B
Equity Growth %	0.13%	0.06%	0.76%	0.15%	0.03%	0.15%	0.12%	0.24%	0.3%	0.17%
Book Value per Share	6.29	6.51	10.58	12.01	12.40	14.11	15.73	19.89	26.08	30.97
Total Shareholders' Equity	190.26M	201.46M	353.61M	408.34M	419.43M	481.6M	538.96M	667.26M	864.88M	1.01B
Common Stock	116K	30K	32K	33K	33K	34K	33K	33K	33K	32K
Retained Earnings	-336.21M	-331.7M	-204.75M	-157.26M	-140.23M	-91.97M	-22.72M	118.89M	319.51M	470.32M
Treasury Stock	-1.22M	0	0	0	0	0	0	0	0	0
Accumulated OCI	-1.43M	-2.28M	2.18M	448K	-258K	3.44M	1.76M	-1.97M	-1.85M	-6.21M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	18.26M	-8.8M	56.28M	46.97M	-13.59M	69.7M	150.19M	215.61M	156.87M	140.82M
Operating CF Margin %	0.06%	-0.03%	0.14%	0.11%	-0.04%	0.15%	0.23%	0.23%	0.14%	0.14%
Operating CF Growth %	2.14%	-1.48%	7.4%	-0.17%	-1.29%	6.13%	1.15%	0.44%	-0.27%	-0.1%
Net Income	14.68M	11M	126.96M	45.88M	17.03M	49.98M	98.65M	183.08M	246.26M	200.99M
Depreciation & Amortization	4.87M	4.26M	5M	5.77M	7.88M	9.94M	10.82M	11.61M	13.07M	15.81M
Stock-Based Compensation	5.58M	5.18M	5.67M	7.78M	8.17M	10.48M	12.07M	13.44M	18.27M	20.95M
Deferred Taxes	779K	519K	-82.08M	11.21M	3.3M	4.68M	20.26M	8.54M	-20.02M	-15.59M
Other Non-Cash Items	1.72M	909K	-8.13M	2.21M	3.61M	3.53M	3.75M	10.55M	-3.48M	4.06M
Working Capital Changes	-9.36M	-30.66M	8.87M	-25.89M	-53.6M	-8.92M	4.64M	-11.61M	-97.23M	-85.4M
Change in Receivables	5.17M	-14.13M	-23.57M	-3.88M	-6M	-1.39M	-18.15M	-67.27M	-50.76M	6.91M
Change in Inventory	-15.94M	-6.57M	5.7M	-10.51M	-17.95M	-17.65M	-39.02M	-58.43M	-69.96M	5.92M
Change in Payables	6M	799K	25M	-703K	-19.15M	18.06M	22.05M	31.39M	-8.1M	-413K
Cash from Investing+	-1.83M	-2.24M	-7.29M	-4.71M	-11.97M	-7.27M	-8.72M	-257.25M	-100.86M	-108.73M
Capital Expenditures	-1.83M	-2.51M	-7.29M	-4.71M	-11.97M	-7.43M	-8.72M	-10.68M	-20.66M	-12.18M
CapEx % of Revenue	0.01%	0.01%	0.02%	0.01%	0.03%	0.02%	0.01%	0.01%	0.02%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-1.83M	270K	0	-4.71M	0	0	0	0	0	0
Cash from Financing+	31.42M	2.43M	15.07M	1.19M	-13.41M	-2.39M	-52.45M	-65.48M	-68.27M	-71.19M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	46.34M	2.43M	15.07M	1.19M	4.34M	5.51M	-1.7M	-7M	-14.53M	-9.18M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	16.43M	-11.3M	49M	42.25M	-25.56M	62.27M	141.47M	204.92M	136.21M	128.64M
FCF Margin %	0.05%	-0.04%	0.12%	0.1%	-0.07%	0.13%	0.21%	0.22%	0.12%	0.13%
FCF Growth %	1.96%	-1.69%	5.33%	-0.14%	-1.61%	3.44%	1.27%	0.45%	-0.34%	-0.06%
FCF per Share	0.54	-0.37	1.47	1.24	-0.76	1.82	4.13	6.11	4.11	3.93
FCF Conversion (FCF/Net Income)	1.24x	-0.80x	0.44x	1.02x	-0.80x	1.39x	1.52x	1.18x	0.64x	0.70x
Interest Paid	3.98M	4.82M	5.32M	5.47M	5.21M	5.16M	5.09M	4.99M	4.87M	4.73M
Taxes Paid	669K	525K	583K	858K	1.03M	876K	1.5M	10.76M	54.22M	61.13M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	8.19%	5.62%	45.75%	12.04%	4.12%	11.09%	19.33%	30.36%	32.15%	21.41%
Return on Invested Capital (ROIC)	9.99%	7.39%	16.08%	16.47%	5.99%	13.3%	30.92%	38.87%	31.37%	18.87%
Gross Margin	33.73%	37.31%	36.6%	40.59%	42.03%	41.85%	43.24%	43.67%	43.45%	44.67%
Net Margin	4.87%	4.12%	30.92%	10.37%	4.97%	10.53%	14.89%	19.9%	21.78%	19.75%
Debt / Equity	0.25x	0.24x	0.13x	0.12x	0.12x	0.10x	0.09x	0.07x	0.05x	0.04x
Interest Coverage	4.16x	3.28x	9.34x	11.73x	4.70x	11.14x	26.33x	38.08x	49.71x	38.59x
FCF Conversion	1.24x	-0.80x	0.44x	1.02x	-0.80x	1.39x	1.52x	1.18x	0.64x	0.70x
Revenue Growth	48.48%	-11.45%	53.78%	7.8%	-22.51%	38.37%	39.59%	38.88%	22.89%	-9.97%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Systems	-	-	-	-	-	-	454.6M	692.06M	883.6M	782.56M
Systems Growth	-	-	-	-	-	-	-	52.24%	27.68%	-11.44%
Aftermarket	-	-	-	-	-	-	207.83M	227.94M	247M	235.31M
Aftermarket Growth	-	-	-	-	-	-	-	9.67%	8.36%	-4.73%
New Systems Revenue	-	-	-	280.39M	202.57M	293.62M	-	-	-	-
New Systems Revenue Growth	-	-	-	-	-27.75%	44.95%	-	-	-	-
Cs I Or Aftermarket	-	-	-	-	-	180.94M	-	-	-	-
Cs I Or Aftermarket Growth	-	-	-	-	-	-	-	-	-	-
After Market	-	-	-	162.19M	140.39M	-	-	-	-	-
After Market Growth	-	-	-	-	-13.44%	-	-	-	-	-
Ion Implantation Systems Services And Royalties	282.62M	248.88M	391.05M	-	-	-	-	-	-	-
Ion Implantation Systems Services And Royalties Growth	-	-11.94%	57.12%	-	-	-	-	-	-	-
Other Products Systems Services And Royalties	18.87M	18.09M	19.51M	-	-	-	-	-	-	-
Other Products Systems Services And Royalties Growth	-	-4.11%	7.82%	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Asia Pacific	50.4M	50.28M	69.71M	70.36M	58.12M	94.51M	106.4M	246.95M	811.31M	781.04M
Asia Pacific Growth	-	-0.22%	38.63%	0.93%	-17.39%	62.61%	12.57%	132.10%	228.53%	-3.73%
North America	226.89M	191.26M	313.92M	342.8M	256.09M	351.07M	519.41M	634.08M	174.81M	144.07M
North America Growth	-	-15.70%	64.13%	9.20%	-25.29%	37.09%	47.95%	22.08%	-72.43%	-17.59%
Europe	24.21M	25.44M	26.94M	29.42M	28.74M	28.98M	36.62M	38.96M	144.49M	92.76M
Europe Growth	-	5.07%	5.90%	9.21%	-2.29%	0.81%	26.38%	6.39%	270.83%	-35.80%

Frequently Asked Questions

Valuation & Price

Axcelis Technologies, Inc. (ACLS) has a price-to-earnings (P/E) ratio of 15.2x. This is roughly in line with market averages.

Growth & Financials

Axcelis Technologies, Inc. (ACLS) reported $853.1M in revenue for fiscal year 2024. This represents a 167% increase from $319.4M in 2011.

Axcelis Technologies, Inc. (ACLS) saw revenue decline by 10.0% over the past year.

Yes, Axcelis Technologies, Inc. (ACLS) is profitable, generating $135.9M in net income for fiscal year 2024 (19.7% net margin).

Dividend & Returns

Axcelis Technologies, Inc. (ACLS) has a return on equity (ROE) of 21.4%. This is excellent, indicating efficient use of shareholder capital.

Axcelis Technologies, Inc. (ACLS) generated $124.0M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.