Advanced Energy Industries, Inc. (AEIS) Financial Ratios
30 years of historical data (1996–2025) · Industrials · Electrical Equipment & Parts
EV/EBITDA
↑
52.39
↑+113% vs avg
5yr avg: 24.58
30Y Low6.7·High49.6
P/FCF
↑
107.91
↑+158% vs avg
5yr avg: 41.88
30Y Low5.4·High176.8
P/B Ratio
↑
10.12
↑+150% vs avg
5yr avg: 4.04
30Y Low1.1·High10.3
ROE
↓
11.6%
-10% vs avg
5yr avg: 12.9%
30Y Low-43%·High39%
Debt/EBITDA
↑
2.64
↓-30% vs avg
5yr avg: 3.76
30Y Low0.0·High10.1
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
AEIS Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Advanced Energy Industries, Inc. trades at 93.0x earnings, 53% above its 5-year average of 60.8x, sitting at the 95th percentile of its historical range. Compared to the Industrials sector median P/E of 25.5x, the stock trades at a premium of 265%. On a free-cash-flow basis, the stock trades at 107.9x P/FCF, 158% above the 5-year average of 41.9x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $13.6B | $8.1B | $4.4B | $4.1B | $3.2B | $3.5B | $3.7B | $2.7B | $1.7B | $2.7B | $2.2B |
| Enterprise Value | $13.5B | $8.0B | $4.3B | $4.1B | $3.3B | $3.5B | $3.7B | $2.8B | $1.3B | $2.3B | $1.9B |
| P/E Ratio → | 93.03 | 54.52 | 80.86 | 126.65 | 16.22 | 25.94 | 27.71 | 42.13 | 11.48 | 19.67 | 17.22 |
| P/S Ratio | 7.55 | 4.49 | 2.95 | 2.49 | 1.75 | 2.40 | 2.64 | 3.47 | 2.35 | 4.04 | 4.53 |
| P/B Ratio | 10.12 | 5.93 | 3.64 | 3.60 | 3.03 | 4.01 | 4.58 | 4.05 | 2.78 | 5.21 | 5.59 |
| P/FCF | 107.91 | 64.19 | 59.16 | 27.87 | 25.95 | 32.23 | 22.68 | 118.12 | 12.90 | 15.61 | 19.60 |
| P/OCF | 58.23 | 34.64 | 33.46 | 19.73 | 17.62 | 24.90 | 18.57 | 56.64 | 11.17 | 14.84 | 18.47 |
P/E links to full P/E history page with 30-year chart
AEIS EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Advanced Energy Industries, Inc.'s enterprise value stands at 52.4x EBITDA, 113% above its 5-year average of 24.6x. The Industrials sector median is 13.7x, placing the stock at a 282% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.43 | 2.92 | 2.48 | 1.77 | 2.37 | 2.61 | 3.60 | 1.86 | 3.43 | 3.95 |
| EV / EBITDA | 52.39 | 30.99 | 41.17 | 22.76 | 11.12 | 16.87 | 16.50 | 35.29 | 7.24 | 10.96 | 14.18 |
| EV / EBIT | 69.03 | 40.83 | 55.82 | 29.50 | 13.09 | 22.67 | 19.51 | 47.83 | 7.62 | 11.47 | 14.91 |
| EV / FCF | — | 63.30 | 58.48 | 27.72 | 26.15 | 31.85 | 22.41 | 122.49 | 10.23 | 13.27 | 17.08 |
AEIS Profitability
Margins and return-on-capital ratios measuring operating efficiency
Advanced Energy Industries, Inc. earns an operating margin of 10.9%, above the Industrials sector average of 4.9%. Operating margins have expanded from 6.9% to 10.9% over the past 3 years, signaling improving operational efficiency. ROE of 11.6% is modest. ROIC of 12.2% represents solid returns on invested capital versus a sector median of 6.3%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 37.2% | 37.2% | 35.7% | 35.8% | 36.6% | 36.6% | 38.3% | 40.0% | 50.9% | 53.1% | 52.3% |
| Operating Margin | 10.9% | 10.9% | 2.5% | 6.9% | 12.6% | 10.4% | 12.4% | 6.9% | 23.9% | 29.9% | 26.2% |
| Net Profit Margin | 8.2% | 8.2% | 3.7% | 7.7% | 10.8% | 9.3% | 9.5% | 8.2% | 20.5% | 20.5% | 26.3% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 11.6% | 11.6% | 4.6% | 11.6% | 20.6% | 16.0% | 18.0% | 10.1% | 26.1% | 30.2% | 38.9% |
| ROA | 6.2% | 6.2% | 2.3% | 5.6% | 10.5% | 7.8% | 8.5% | 5.5% | 19.0% | 21.1% | 24.4% |
| ROIC | 12.2% | 12.2% | 2.4% | 7.7% | 18.2% | 14.2% | 17.1% | 7.9% | 69.3% | 134.8% | 88.7% |
| ROCE | 11.1% | 11.1% | 1.8% | 6.0% | 15.3% | 10.8% | 13.7% | 5.7% | 25.7% | 36.4% | 30.1% |
AEIS Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Advanced Energy Industries, Inc. carries a Debt/EBITDA ratio of 2.6x, which is moderately leveraged (18% below the sector average of 3.2x). The company holds a net cash position — cash of $791M exceeds total debt of $679M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 11.7x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.50 | 0.50 | 0.56 | 0.89 | 0.45 | 0.58 | 0.53 | 0.66 | — | — | — |
| Debt / EBITDA | 2.64 | 2.64 | 6.39 | 5.67 | 1.65 | 2.46 | 1.94 | 5.56 | — | — | — |
| Net Debt / Equity | — | -0.08 | -0.04 | -0.02 | 0.02 | -0.05 | -0.06 | 0.15 | -0.58 | -0.78 | -0.72 |
| Net Debt / EBITDA | -0.44 | -0.44 | -0.48 | -0.12 | 0.09 | -0.20 | -0.20 | 1.26 | -1.89 | -1.94 | -2.09 |
| Debt / FCF | — | -0.89 | -0.68 | -0.15 | 0.21 | -0.37 | -0.28 | 4.37 | -2.67 | -2.35 | -2.52 |
| Interest Coverage | 11.69 | 11.69 | 3.09 | 8.39 | 34.00 | 42.59 | — | — | — | — | — |
Net cash position: cash ($791M) exceeds total debt ($679M)
AEIS Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.59x means Advanced Energy Industries, Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The quick ratio of 1.17x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has declined from 5.10x to 1.59x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.59 | 1.59 | 4.42 | 5.10 | 3.02 | 3.14 | 3.31 | 2.71 | 5.15 | 5.61 | 4.61 |
| Quick Ratio | 1.17 | 1.17 | 3.27 | 4.10 | 2.07 | 2.23 | 2.56 | 1.99 | 4.26 | 4.87 | 4.02 |
| Cash Ratio | 0.80 | 0.80 | 2.30 | 3.11 | 1.17 | 1.47 | 1.63 | 1.09 | 3.19 | 3.87 | 3.02 |
| Asset Turnover | — | 0.71 | 0.66 | 0.65 | 0.93 | 0.80 | 0.86 | 0.51 | 0.88 | 0.92 | 0.85 |
| Inventory Turnover | 2.75 | 2.75 | 2.64 | 3.16 | 3.11 | 2.73 | 3.95 | 2.06 | 3.61 | 4.01 | 4.13 |
| Days Sales Outstanding | — | 65.99 | 65.34 | 62.26 | 59.47 | 59.47 | 61.87 | 116.03 | 52.12 | 48.26 | 58.22 |
AEIS Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Advanced Energy Industries, Inc. returns 0.3% to shareholders annually — split between a 0.1% dividend yield and 0.2% buyback yield. The payout ratio of 10.5% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 1.1% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.1% | 0.2% | 0.4% | 0.4% | 0.5% | 0.4% | — | — | — | — | — |
| Payout Ratio | 10.5% | 10.5% | 28.3% | 11.9% | 7.6% | 11.4% | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.1% | 1.8% | 1.2% | 0.8% | 6.2% | 3.9% | 3.6% | 2.4% | 8.7% | 5.1% | 5.8% |
| FCF Yield | 0.9% | 1.6% | 1.7% | 3.6% | 3.9% | 3.1% | 4.4% | 0.8% | 7.8% | 6.4% | 5.1% |
| Buyback Yield | 0.2% | 0.4% | 0.0% | 1.0% | 0.8% | 2.2% | 0.3% | 0.0% | 5.6% | 1.1% | 0.0% |
| Total Shareholder Yield | 0.3% | 0.6% | 0.4% | 1.3% | 1.3% | 2.7% | 0.3% | 0.0% | 5.6% | 1.1% | 0.0% |
| Shares Outstanding | — | $39M | $38M | $38M | $38M | $38M | $39M | $38M | $39M | $40M | $40M |
Peer Comparison
Compare AEIS with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 AEISYou | $14B | 93.0 | 52.4 | 107.9 | 37.2% | 10.9% | 11.6% | 12.2% | 2.6 |
 MKSI | $21B | 71.7 | 27.6 | 42.4 | 40.4% | 14.4% | 11.7% | 6.5% | 5.2 |
 ITRI | $4B | 12.6 | 10.6 | 9.5 | 37.5% | 13.5% | 19.1% | 13.1% | 3.5 |
 NOVT | $5B | 94.1 | 27.4 | 101.9 | 44.4% | 11.9% | 5.2% | 7.4% | 1.9 |
 GTLS | $10B | 628.6 | 14.3 | 49.0 | 29.2% | 15.2% | 1.3% | 7.4% | 4.0 |
 FELE | $4B | 30.6 | 13.7 | 22.7 | 35.5% | 12.7% | 11.3% | 14.7% | 0.8 |
 COHU | $2B | -31.2 | — | 216.9 | 34.5% | -13.3% | -9.0% | -5.7% | — |
 ICHR | $3B | -48.3 | — | — | 9.3% | -4.1% | -7.7% | -3.9% | — |
 ONTO | $14B | 102.4 | 71.5 | 47.2 | 49.7% | 13.2% | 6.8% | 5.7% | 0.1 |
 ACMR | $4B | 43.7 | 27.8 | — | 44.4% | 12.1% | 6.2% | 7.0% | 2.4 |
 LRCX | $367B | 70.9 | 58.1 | 67.8 | 48.7% | 32.0% | 58.2% | 55.7% | 0.8 |
| Industrials Median | — | 25.5 | 13.7 | 20.5 | 32.7% | 4.9% | 8.2% | 6.3% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Full AEIS Stock Analysis
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Start ComparisonAEIS — Frequently Asked Questions
Quick answers to the most common questions about buying AEIS stock.
What is Advanced Energy Industries, Inc.'s P/E ratio?
Advanced Energy Industries, Inc.'s current P/E ratio is 93.0x. The historical average is 33.0x. This places it at the 95th percentile of its historical range.
What is Advanced Energy Industries, Inc.'s EV/EBITDA?
Advanced Energy Industries, Inc.'s current EV/EBITDA is 52.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 18.4x.
What is Advanced Energy Industries, Inc.'s ROE?
Advanced Energy Industries, Inc.'s return on equity (ROE) is 11.6%. The historical average is 6.9%.
Is AEIS stock overvalued?
Based on historical data, Advanced Energy Industries, Inc. is trading at a P/E of 93.0x. This is at the 95th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Advanced Energy Industries, Inc.'s dividend yield?
Advanced Energy Industries, Inc.'s current dividend yield is 0.11% with a payout ratio of 10.5%.
What are Advanced Energy Industries, Inc.'s profit margins?
Advanced Energy Industries, Inc. has 37.2% gross margin and 10.9% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Advanced Energy Industries, Inc. have?
Advanced Energy Industries, Inc.'s Debt/EBITDA ratio is 2.6x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.