AEIS
Advanced Energy Industries, Inc.

Advanced Energy Industries, Inc.AEIS

Industrials · Electrical Equipment & Parts
197.01USD
+6.11%
Nov 08, 2026
AEIS overview ready
Precision Power and Control Subsystems for Semiconductor Equipment OEMs
AEIS is a specialized component and subsystem supplier to semiconductor-equipment OEMs, providing precision plasma power, high-voltage power, sensing, thermal measurement/control, and wafer-control products used in deposition, etch, cleaning, inspection, implantation, and related fab processes.
Theme not measured
Semiconductor Equipment Subsystems has no leadership state this session.
Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
Demanding valuation
The price embeds expectations that run ahead of the cash the business currently produces.
Low free cash flow yield
Free cash flow yield is weak.
Primary risk
Cyclicality of semiconductor capital equipment spending.
Market Nov 6Filing Sep 30Price action Nov 7Research Nov 4

Conviction Level

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

PriceAction1.4BusinessPerformance9.0BusinessQuality7.1Valuation3.2ThemeMomentum—Accelerating — Revenue growth has accelerated across 4 consecutive quarters, rising from +18% to +50% year over year. Diluted EPS growth has strengthened to +133% year over year ($2.79), up from +91%. — Accelerating describes growth momentum measured in recent filed quarters. It is not proof that the acceleration will continue.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
Semiconductor Equipment Subsystems — Semiconductor Equipment Subsystems is tracked (3–4 priced members) — too few for a leadership state
Its economic family, Semiconductors, reads Lagging (−22.2pp vs SPY) — the family’s reading, not this theme’s.
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
EntryDamaged / breakdown

The technical structure itself is broken across timeframes — the weakest entry profile.

Key Financials

Market Cap
$8.0B
Avg Volume (60D)
623.3K
60 sessions
Revenue Growth YoY
+21.4%
FY2025 vs FY2024
Gross Margin
+40.3%
Trailing twelve months
Operating Margin
+16.0%
Trailing twelve months
Free Cash Flow Yield
+0.9%
Distance from 200DMA
-35.9%
P/E
27.6x
EV / EBITDA
18.3x
EV / Sales
3.4x
Market metrics as of Nov 6, 2026
Financial results for the period ended Sep 30, 2026
Filed balance-sheet data as of Sep 30, 2026

Business Performance

Accelerating

Revenue growth has accelerated across 4 consecutive quarters, rising from +18% to +50% year over year. Diluted EPS growth has strengthened to +133% year over year ($2.79), up from +91%.

Latest reported: Q3 FY2026, ended Sep 30
Revenue growthAccelerating
+50%
$696M in Q3 FY2026 · YoY
YoY growth, last 4 quarters
  1. +18%
  2. +26%
  3. +30%
  4. +50%
Earnings growthAccelerating
+133%
Diluted EPS $2.79 vs $1.20 a year earlier · GAAP
Diluted EPS YoY (GAAP), last 4 quarters
  1. +0.8%
  2. +143%
  3. +91%
  4. +133%
Operating marginExpanding
20.6%
+9.9 pp YoY · gross margin 41.5% (+3.9 pp)
The share count is rising

Business Quality

7.1 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

The available comparisons disagreed; the intrinsic comparison is the more reliable method for this business and the others are published as dissent.
Advanced Energy Industries, Inc. has an Expensive valuation stance because the price embeds expectations that run ahead of the cash the business currently produces.

Company Research

Thesis
AEIS is a specialized component and subsystem supplier to semiconductor-equipment OEMs, providing precision plasma power, high-voltage power, sensing, thermal measurement/control, and wafer-control products used in deposition, etch, cleaning, inspection, implantation, and related fab processes.
Opportunity
High opportunity
Fab-capacity expansion and process-node complexity drive equipment-OEM demand for specialized RF, plasma, high-voltage, measurement, thermal-control, and wafer-control subsystems that enable repeatable semiconductor manufacturing processes.
Key risk
Cyclicality of semiconductor capital equipment spending.

Economic classification

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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 manufacturing and other industrial applications worldwide.

How it earns

The company generates revenue through transactional sales of its power and control products to equipment manufacturers and end users.

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

Niche leader supplying critical precision power and control subsystems to semiconductor equipment OEMs.

Demand drivers
High cyclicality

Demand is closely tied to semiconductor capital equipment spending cycles and broader industrial investment trends.

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