AEIS
Advanced Energy Industries, Inc.

Advanced Energy Industries, Inc.AEIS

Industrials · Electrical Equipment & Parts
308.05USD
-0.39%
Sep 23, 2026
AEIS overview ready
Precision power and thermal-control subsystems enabling advanced semiconductor manufacturing
Critical subsystem and component supplier to semiconductor-equipment OEMs; its precision power platforms enable plasma etch, deposition, thin-film, implant, and other highly controlled wafer-processing steps.
Strong narrative exposure
Exposed to the Domestic Semiconductor Supply Chain Reindustrialization narrative through Semiconductor Process Control and Specialty Equipment — component supplier.
Price structure is giving way
Longer-term context reads near trend floor, with a near-term setup of constructive pullback.
Demanding valuation
The price embeds expectations that run ahead of what comparable businesses command.
Fundamentals under pressure
Free cash flow yield is weak.
Primary risk
Cyclicality of semiconductor capital spending.
Market Jul 13Price action Jul 13Research Jul 16

Conviction Level

Theme Heat has no canonical measurement for this company — a research-profile dimension, not an input to this score.

NarrativeHeat8.7ThemeHeat—PriceAction7.5Valuation3.0CompanyPosition9.3
Price
Loading price history…

Price Action

Price structure is giving way
Longer-term context reads near trend floor, with a near-term setup of constructive pullback.

Key Financials

Market Cap
$12.3B
Avg Volume (60D)
963.5K
60 sessions
Revenue Growth YoY
+24.6%
Trailing twelve months
Gross Margin
+40.0%
Operating Margin
+14.6%
Trailing twelve months
Free Cash Flow Yield
+0.3%
P/E
57.5x
EV / EBITDA
34.9x
EV / Sales
6.0x
Market metrics as of Jul 13, 2026

Fundamentals & Valuation

Two of the three valuation perspectives say expensive; own history is the dissenting view.
Advanced Energy Industries, Inc. has an Expensive valuation stance because the price embeds expectations that run ahead of what comparable businesses command.

Company Research

Thesis
Critical subsystem and component supplier to semiconductor-equipment OEMs; its precision power platforms enable plasma etch, deposition, thin-film, implant, and other highly controlled wafer-processing steps.
Opportunity
Moderate opportunity
US fab construction, expansion, and modernization spending supported by CHIPS incentives and AI semiconductor demand. AEIS supplies the precision RF, DC, high-voltage power, measurement, and thermal-control subsystems required by semiconductor manufacturing equipment, particularly plasma-based process tools.
Key risk
Cyclicality of semiconductor capital spending.

Narrative & Theme

Domestic Semiconductor Supply Chain Reindustrialization
Part of Semiconductor Process Control and Specialty Equipment, with strong fit.
AEIS is a genuine picks-and-shovels beneficiary of semiconductor manufacturing equipment demand rather than a generic technology adjacency.
Narrative HeatHot8.7 / 10
Theme HeatUnavailable

Business & Markets

Industrials · Electrical Equipment & Parts
What they do

Advanced Energy Industries, Inc. designs and manufactures precision power conversion, measurement, and control solutions primarily for semiconductor and industrial applications globally.

How it earns

The company generates revenue through transactional sales of its power and control products and subsystems.

Products & services
Plasma power products for semiconductor processes
High and low voltage power products
Sensing and control solutions
Customers & end markets
Semiconductor equipment manufacturers
Industrial production companies
Medical and life science equipment makers
Data centers and telecommunications firms
Market position

Niche provider specializing in precision power and control solutions for semiconductor and related industrial markets.

Demand drivers
High cyclicality

Due to dependence on semiconductor industry capital spending and industrial production cycles.