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ACLSAxcelis Technologies, Inc.
$99.24$3.1B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
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Live BreakoutsStock ScreenerOwnership
ACLS logo

Axcelis Technologies, Inc.

ACLS
NASDAQ · Semiconductor Equipment & Materials
$99.24
At close - USD
Market Cap$3.05B
P/E26.1x
52W High$193.78
Volume860.88K
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Cyclical Downturn Masks Structural Margin Pressures

Axcelis Technologies is navigating a pronounced cyclical downturn, with revenue contracting for six consecutive quarters to $215.2M in 2026Q2, down 10.6% year-over-year.

GrowthDecelerating
ProfitabilityStrained
ValuationAttractive
TechnicalsWeak
Explore valuation models
MARKET ACTION

ACLS price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

12/12 Beats

EPS beat 12 of last 12 quarters

02

Valuation risk

-49% Peers

P/E is 49% below peer median

03

Market leadership

RS 41 · Lag

Laggard (Underperforming 59% of market)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystEstimated earnings · Feb 5
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

Revenue has declined for six straight quarters to $215.2M in 2026Q2 (-10.6% YoY), with gross margin compressing to 42.4% and operating margin falling to 9.4% from 22.4% in 2024Q1.

Analyst Consensus+41.1% target
Buy(13 analysts)
10 Buy2 Hold1 Sell

The Bull Case

Upside Catalysts

Dominant market share

Axcelis Technologies holds a dominant market share in ion implantation, a key technology for semiconductor manufacturing.

EV and AI growth

The company benefits from growth in power device segments driven by increasing demand for electric vehicles (EVs) and artificial intelligence (AI).

High-margin services expansion

Axcelis is expanding its high-margin aftermarket services, which contribute to stronger profitability and recurring revenue streams.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 11/7/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
ACLS+15.23%
S&P 500 (^GSPC)+7.63%
1-Year Return
ACLS+20.82%
S&P 500 (^GSPC)+9.69%
3-Year Return
ACLS-23.23%
S&P 500 (^GSPC)+81.55%
5-Year Return
ACLS+60.45%
S&P 500 (^GSPC)+72.65%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y High
26.1x
Forward P/EExpansion
24.2x
EV/EBITDA100th %ile
21.5x
FCF YieldCash Flow
3.5%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
26.1x
17.5x
100th· High
EV/EBITDA
21.5x
15.0x
100th· High
Price/FCF
28.5x
18.1x
80th· High
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$27.84-71.9%
Base (Fair)$100.43+1.2%
Bull$55.70-43.9%
$27.84 Bear$100.43 Base$55.70 Bull
Current Market Price: $99.24
Trades at a 1.2% discount to Base DCF ($100.43)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue FY25
$839M-17.6% YoY
Net income FY25
$120M-40.2% YoY
Free cash flow FY25
$107M-16.8% YoY
Operating margin FY25
14.2%-6.5 pts YoY
ROIC (FY25)9.6%
Avg ROIC 5Y-
ROE (FY25)11.7%
Piotroski Score5 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate12/12 (100%)
Revenue Beat Rate9/12 (75%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q4 2026Latest
Nov 5, 2026
$1.26+13.5%
vs $1.11
$238M+3.3%
vs $230M
Q3 2026
Aug 6, 2026
$1.06+18.6%
vs $0.89
$215M+4.9%
vs $205M
Q2 2026
May 7, 2026
$0.72+1.4%
vs $0.71
$199M+2.0%
vs $195M
Q1 2026
Feb 17, 2026
$1.49+33.0%
vs $1.12
$238M+10.8%
vs $215M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

4 Stories
Seeking Alpha·1d ago
Axcelis Technologies, Inc. (ACLS) Q3 2026 Earnings Call Transcript

Axcelis Technologies, Inc. ( ACLS ) Q3 2026 Earnings Call November 5, 2026 8:30 AM EST Company Participants David Ryzhik - Interim CFO & Senior VP of Investor Relations and Corporate Strategy Russell Low - CEO, President & Director Conference Call Participants Christian Schwab - Craig-Hallum Capital Group LLC, Research Division Jonathan Dorsheimer - William Blair & Company L.L.C., Research Division Craig Ellis - B.

MarketBeat·2d ago
What Axcelis Technologies (ACLS) Said on Its Q3 Earnings Call

Axcelis Technologies NASDAQ: ACLS reported third-quarter 2026 revenue of $238 million and earnings per diluted share of $1.26, exceeding its expectations as demand improved across several semiconductor equipment markets.

Zacks Investment Research·2d ago
Axcelis Technologies (ACLS) Tops Q3 Earnings and Revenue Estimates

Axcelis Technologies (ACLS) came out with quarterly earnings of $1.26 per share, beating the Zacks Consensus Estimate of $1.11 per share. This compares to earnings of $1.21 per share a year ago.

PRNewsWire·2d ago
Axcelis Announces Financial Results for Third Quarter 2026

Q3 2026 Highlights: Revenue of $237.8 million GAAP Gross Margin of 41.0%, and Non-GAAP Gross Margin of 41.2% GAAP Operating Margin of 11.5% and Non-GAAP Operating Margin of 16.6% GAAP Diluted Earnings Per Share of $1.21, and Non-GAAP Diluted Earnings Per Share of $1.26 BEVERLY, Mass., Nov. 5, 2026 /PRNewswire/ -- Axcelis Technologies, Inc. (Nasdaq: ACLS) today announced financial results for the third quarter ended September 30, 2026.

Filtered for Axcelis Technologies, Inc.More Headlines
04

Compare before deciding

Benchmark ACLS against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Axcelis Technologies, Inc. (ACLS)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
ACLS logoACLSAxcelis Technologies, Inc.Current
$99.24$3.05B26.12-17.57%14.33%11.74%—
ONTO logoONTOOnto Innovation Inc.
$173.28$8.62B62.331.82%11.84%6.5%—
MKSI logoMKSIMKS Inc.
$192.27$12.99B44.009.62%10.12%15.83%0.45%
UCTT logoUCTTUltra Clean Holdings, Inc.
$41.13$1.84B-10.28-2.08%1.09%3.53%0.01%
CAMT logoCAMTCamtek Ltd.
$97.05$4.53B93.3215.57%7.4%5.82%—
COHU logoCOHUCohu, Inc.
$38.49$1.82B-24.2112.74%-3.97%-2.9%—

Compare ACLS vs Peers

Axcelis Technologies, Inc. (ACLS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs ONTO

Most directly comparable listed peer for ACLS.

Scale Benchmark

vs TSM

Larger-name benchmark to compare ACLS against a more recognizable public peer.

Peer Set

Compare Top 5

vs ONTO, MKSI, UCTT, CAMT

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

ACLS SEC Filings & Documents

Axcelis Technologies, Inc. (ACLS) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Aug 6, 2026·SEC

Material company update

May 7, 2026·SEC

Material company update

May 6, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 26, 2026·SEC

FY 2025

Feb 28, 2025·SEC

FY 2024

Feb 23, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Aug 6, 2026·SEC

FY 2026

May 8, 2026·SEC

FY 2025

Nov 6, 2025·SEC

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ACLS Frequently Asked Questions

Axcelis Technologies, Inc. (ACLS) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Axcelis Technologies, Inc.'s revenue?

Axcelis Technologies, Inc. (ACLS) reported $866.1M in revenue over the trailing twelve months. Revenue was $839.0M in fiscal year 2025. That is 111% more than the $397.3M of fiscal year 1999.

How fast is Axcelis Technologies, Inc. growing?

Axcelis Technologies, Inc. (ACLS) revenue fell by 17.6% in fiscal year 2025, compared with the prior fiscal year.

Is ACLS profitable?

Yes. Axcelis Technologies, Inc. (ACLS) earned $92.8M in net income over the trailing twelve months (a 10.7% net margin).

Dividend & Returns
What is ACLS's return on equity?

Axcelis Technologies, Inc. (ACLS) had a return on equity (ROE) of 11.7% in fiscal year 2025. That is in line with the market's typical 10-15%.

What is Axcelis Technologies, Inc.'s free cash flow?

Axcelis Technologies, Inc. (ACLS) generated $81.9M in free cash flow over the trailing twelve months.

What if you invested $1,000 in ACLS back in 1999?

Total return calculator · dividends reinvested · 27+ years of data

See returns →