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AEIS
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AEISAdvanced Energy Industries, Inc.
$197.01$7.5B
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
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
AEIS logo

Advanced Energy Industries, Inc.

AEIS
NASDAQ · Semiconductor Equipment & Materials
$197.01
At close - Nov 6, 4:00 PM EST - USD
Market Cap$7.49B
P/E28.2x
52W High$397.44
Volume971.82K
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q3

Cyclical Revenue Surge Tests Cash Conversion and Valuation Discipline

AEIS revenue has re-accelerated to $696.4M in Q3 2026, up 50.3% year over year, with operating margin expanding from 3.5% in Q2 2024 to 20.6%, suggesting meaningful operating leverage is emerging on a larger revenue base.

GrowthAccelerating
ProfitabilityStrong
ValuationExpensive
TechnicalsWeak
Explore valuation models
MARKET ACTION

AEIS 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

11/12 Beats

EPS beat 11 of last 12 quarters

02

Valuation risk

-12% Peers

P/E is 12% below peer median

03

Market leadership

RS 18 · Lag

Laggard (Underperforming 82% of market)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystEstimated earnings · Feb 2
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 climbed to $696.4M in Q3 2026 with gross margin of 41.5% and operating margin of 20.6%, though earnings momentum is sensitive to quarterly volatility such as the swing in diluted EPS from $1.58 in Q1 2026 to $1.28 in Q2 2026.

Analyst Consensus+111.2% target
Buy(27 analysts)
19 Buy7 Hold1 Sell

The Bull Case

Upside Catalysts

AI data center expansion

AEIS is launching high-efficiency ADH DC-DC converters for 800 V AI data center power architectures, positioning it as a key player in AI infrastructure growth.

Strong financial performance

The company reported Q1 revenue of $511 million and net income of $66.8 million, while raising its Q2 outlook, demonstrating robust financial health.

Capital structure optimization

AEIS filed an omnibus shelf registration and plans to redeem its remaining 2.50% Convertible Senior Notes, indicating strategic financial management to strengthen its balance sheet.

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
AEIS-11.12%
S&P 500 (^GSPC)+7.63%
1-Year Return
AEIS-9.94%
S&P 500 (^GSPC)+9.69%
3-Year Return
AEIS+120.63%
S&P 500 (^GSPC)+79.77%
5-Year Return
AEIS+109.46%
S&P 500 (^GSPC)+66.74%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/EMedian
28.2x
Forward P/EExpansion
15.9x
EV/EBITDA20th %ile
16.3x
FCF YieldCash Flow
1.0%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
28.2x
54.5x
40th· Fair
EV/EBITDA
16.3x
22.8x
20th· Low
Price/FCF
104.4x
32.2x
100th· High
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$74.54-62.2%
Base (Fair)$136.63-30.6%
Bull$144.85-26.5%
$74.54 Bear$136.63 Base$144.85 Bull
Current Market Price: $197.01
Trades at a 44.2% premium to Base DCF ($136.63)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue FY25
$1.8B+21.4% YoY
Net income FY25
$148M+173.7% YoY
Free cash flow FY25
$126M+70.2% YoY
Operating margin FY25
10.9%+8.4 pts YoY
ROIC (FY25)12.2%
Avg ROIC 5Y10.9%
ROE (TTM)19.8%
Piotroski Score7 / 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 Rate11/12 (92%)
Revenue Beat Rate8/12 (67%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q4 2026Latest
Nov 2, 2026
$3.65+20.1%
vs $3.04
$696M+8.0%
vs $645M
Q3 2026
Aug 3, 2026
$2.74+24.0%
vs $2.21
$574M+5.5%
vs $544M
Q2 2026
May 4, 2026
$2.09+6.1%
vs $1.97
$511M+1.0%
vs $506M
Q1 2026
Feb 10, 2026
$1.94+9.6%
vs $1.77
$489M+3.3%
vs $474M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

4 Stories
Business Wire·3d ago
Advanced Energy to Participate at Upcoming Investor Conferences

DENVER--(BUSINESS WIRE)--Advanced Energy (Nasdaq: AEIS), a global leader in highly engineered, precision power conversion, measurement, and control solutions, today announced that it will participate at the following investor conferences. Baird Global Industrial Conference in Chicago Date: Tuesday, November 10, 2026 UBS Global Technology and AI Conference in Scottsdale * Date: Wednesday, December 2, 2026 NASDAQ Investor Conference in London * Date: Tuesday, December 8, 2026 Wells Fargo TMT Summ.

Business Wire·3d ago
Advanced Energy Declares Quarterly Cash Dividend

DENVER--(BUSINESS WIRE)--Advanced Energy Industries, Inc. (NASDAQ: AEIS), a global leader in highly engineered, precision power conversion, measurement, and control solutions, today announced that its board of directors has authorized a quarterly cash dividend of $0.10 per share, payable on December 4, 2026 to shareholders of record as of November 23, 2026. Future dividend declarations, as well as the record and payment dates for such dividends, are subject to review and approval by the board o.

Zacks Investment Research·4d ago
AEIS Q3 Earnings Beat on Semiconductor and Data Center Strength

Advanced Energy's Q3 earnings surge 109.8% as record semiconductor and data center sales fuel growth, prompting a higher 2026 revenue outlook.

Zacks Investment Research·4d ago
AEIS Q3 Earnings Call Highlights Strong Demand and 2027 Growth

Advanced Energy raises its 2026 revenue growth outlook to 40% as semiconductor and AI data center demand accelerates, setting the stage for a stronger 2027.

Filtered for Advanced Energy Industries, Inc.More Headlines
04

Compare before deciding

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

Peers Comparison

Key metrics vs top competitors for Advanced Energy Industries, Inc. (AEIS)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
AEIS logoAEISAdvanced Energy Industries, Inc.Current
$197.01$7.49B28.2421.37%12.72%19.81%0.21%
MKSI logoMKSIMKS Inc.
$192.27$12.99B23.169.62%12.62%20.4%0.45%
ITRI logoITRIItron, Inc.
$98.44$4.31B15.63-3.02%12.05%16.64%—
NOVT logoNOVTNovanta Inc.
$135.15$4.81B90.083.3%6%4.9%—
FELE logoFELEFranklin Electric Co., Inc.
$94.17$4.16B21.165.44%8.83%14.46%1.17%
COHU logoCOHUCohu, Inc.
$38.49$1.82B-92.6612.74%-3.97%-2.9%—

Compare AEIS vs Peers

Advanced Energy Industries, Inc. (AEIS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs MKSI

Most directly comparable listed peer for AEIS.

Scale Benchmark

vs AMAT

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

Peer Set

Compare Top 5

vs MKSI, ITRI, NOVT, FELE

05

Keep researching

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

AEIS SEC Filings & Documents

Advanced Energy Industries, Inc. (AEIS) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Nov 2, 2026·SEC

Material company update

Aug 3, 2026·SEC

Material company update

Jun 12, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 13, 2026·SEC

FY 2025

Feb 18, 2025·SEC

FY 2024

Feb 20, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Nov 2, 2026·SEC

FY 2026

Aug 3, 2026·SEC

FY 2026

May 4, 2026·SEC

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AEIS Frequently Asked Questions

Advanced Energy Industries, Inc. (AEIS) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Advanced Energy Industries, Inc.'s revenue?

Advanced Energy Industries, Inc. (AEIS) reported $2.27B in revenue over the trailing twelve months. Revenue was $1.80B in fiscal year 2025. That is 1720% more than the $98.9M of fiscal year 1996.

How fast is Advanced Energy Industries, Inc. growing?

Advanced Energy Industries, Inc. (AEIS) grew revenue by 31.7% over the trailing twelve months, compared with the twelve months before.

Is AEIS profitable?

Yes. Advanced Energy Industries, Inc. (AEIS) earned $288.8M in net income over the trailing twelve months (a 12.7% net margin).

Dividend & Returns
Does AEIS pay dividends?

Yes. Advanced Energy Industries, Inc. (AEIS) pays a dividend that yields 0.21% at the current price, a small yield.

What is AEIS's return on equity?

Advanced Energy Industries, Inc. (AEIS) had a return on equity (ROE) of 19.8% over the trailing twelve months. That is above the market's typical 10-15%.

What is Advanced Energy Industries, Inc.'s free cash flow?

Advanced Energy Industries, Inc. (AEIS) generated $71.8M in free cash flow over the trailing twelve months.

What if you invested $1,000 in AEIS back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →