AEIS financial statements

The full income statement, balance sheet, and cash-flow statement for Advanced Energy Industries Inc. (AEIS), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-06 37.7M2024-09 37.7M2024-12 37.7M2025-03 37.7M2025-06 37.7M2025-09 37.7M2025-12 37.8M2026-03 38.0M2026-06 40.1M+6.3% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	1.80B YoY+21.4%	1.48B YoY-10.5%	1.66B YoY-10.3%	1.85B YoY+26.8%	1.46B YoY+2.8%
	677M YoY+28.0%	529M YoY-10.7%	592M YoY-12.3%	676M YoY+26.9%	532M YoY-1.8%
Cost of revenue	1.12B YoY+17.7%	953M YoY-10.4%	1.06B YoY-9.1%	1.17B YoY+26.7%	924M YoY+5.7%
	509M YoY+3.4%	493M YoY+2.9%	479M YoY+8.2%	442M YoY+16.2%	381M YoY+4.0%
Research & development	232M YoY+9.7%	212M YoY+4.6%	202M YoY+6.0%	191M YoY+18.0%	162M YoY+12.4%
Selling, general & administrative	242M YoY+7.9%	225M YoY+1.6%	221M YoY+1.2%	218M YoY+13.8%	192M YoY+1.8%
Restructuring	6.30M YoY-77.6%	28.1M YoY+12.0%	25.1M YoY+268.4%	6.81M YoY+43.4%	4.75M YoY-63.9%
Amortization of intangibles	22.1M YoY-15.0%	26.0M YoY-8.1%	28.3M YoY+8.4%	26.1M YoY+18.4%	22.1M YoY+9.6%
Operating income	168M YoY+359.0%	36.6M YoY-67.8%	114M YoY-51.2%	233M YoY+53.7%	152M YoY-13.8%
Interest expense	16.7M YoY-33.5%	25.1M YoY+51.2%	16.6M YoY+126.6%	7.33M YoY+104.8%	3.58M YoY-37.8%
Interest & investment income	26.6M YoY-38.0%	42.9M YoY+58.3%	27.1M YoY+553.5%	4.15M YoY+813.4%	454K
Other non-operating income	-9.20M YoY-360.0%	-2.00M YoY-17.6%	-1.70M YoY-114.4%	11.8M YoY+7678.9%	152K YoY+100.9%
Pre-tax income	169M YoY+221.9%	52.4M YoY-57.2%	123M YoY-49.3%	242M YoY+62.6%	149M YoY-6.0%
Income tax	19.4M YoY+597.4%	-3.90M YoY+53.0%	-8.30M YoY-120.8%	39.9M YoY+184.6%	14.0M YoY-39.1%
	148M YoY+173.7%	54.2M YoY-57.7%	128M YoY-35.7%	200M YoY+48.2%	135M YoY+0.0%
Income from continuing operations	149M YoY+165.2%	56.3M YoY-57.0%	131M YoY-35.2%	202M YoY+49.9%	135M YoY-0.3%
Discontinued operations	—	-2.09M YoY+15.1%	-2.46M YoY-11.3%	-2.21M YoY-3134.2%	73.0K YoY+117.3%
Net income to non-controlling interest	—	—	—	16.0K YoY-63.6%	44.0K YoY-20.0%
	$3.84 YoY+168.5%	$1.43 YoY-57.9%	$3.40 YoY-35.7%	$5.29 YoY+50.7%	$3.51 YoY+0.3%
EPS (basic)	$3.95 YoY+172.4%	$1.45 YoY-57.6%	$3.42 YoY-35.8%	$5.33 YoY+51.0%	$3.53 YoY+0.3%
	37.6M YoY+0.3%	37.5M YoY+0.0%	37.5M YoY+0.1%	37.5M YoY-1.8%	38.1M YoY-0.4%
	38.6M YoY+2.1%	37.8M YoY+0.0%	37.8M YoY+0.2%	37.7M YoY-1.7%	38.4M YoY-0.5%
Dividends per share	$0.40 YoY+0.0%	$0.40 YoY+0.0%	$0.40 YoY+0.0%	$0.40 YoY+0.0%	$0.40
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	1.57B YoY+13.3%	1.39B YoY-18.8%	1.71B YoY+44.0%	1.19B YoY+2.3%	1.16B YoY+18.6%
Cash & equivalents	791M YoY+9.6%	722M YoY-30.9%	1.04B YoY+127.7%	459M YoY-15.7%	544M YoY+13.3%
Short-term investments	—	—	—	—	2.30M YoY-13.5%
Accounts receivable	325M YoY+22.6%	265M YoY-6.1%	282M YoY-6.1%	301M	—
Inventory	411M YoY+14.1%	360M YoY+7.2%	336M YoY-10.6%	376M YoY+11.1%	338M YoY+52.9%
Other current assets	46.3M YoY+11.6%	41.5M YoY-14.9%	48.8M YoY-8.0%	53.0M YoY+25.5%	42.2M YoY+17.6%
	2.55B YoY+12.6%	2.26B YoY-11.5%	2.56B YoY+28.3%	1.99B YoY+9.6%	1.82B YoY+10.3%
Property, plant & equipment	273M YoY+47.0%	186M YoY+10.7%	168M YoY+12.9%	148M YoY+29.3%	115M YoY+0.1%
Operating lease right-of-use	98.1M YoY+1.9%	96.3M YoY+0.9%	95.4M YoY-4.7%	100M YoY-1.6%	102M YoY-2.0%
Goodwill	301M YoY+1.6%	296M YoY+4.3%	284M YoY+0.8%	281M YoY+32.6%	212M YoY+1.1%
Intangible assets	118M YoY-15.6%	139M YoY-13.7%	161M YoY-14.8%	190M YoY+18.9%	159M YoY-5.6%
Deferred tax assets	—	—	—	—	47.2M YoY-7.0%
	991M YoY+215.4%	314M YoY-6.4%	336M YoY-14.6%	393M YoY+6.2%	370M YoY+24.9%
Accounts payable	224M YoY+56.2%	144M YoY+1.2%	142M YoY-16.8%	170M YoY-12.0%	194M YoY+54.7%
Short-term & current debt	568M	—	20.0M YoY+0.0%	20.0M YoY+0.0%	20.0M YoY+14.3%
Current lease liability	15.8M YoY-11.2%	17.8M YoY+0.3%	17.7M YoY+5.8%	16.8M YoY+5.9%	15.8M YoY-4.5%
	1.18B YoY+11.4%	1.06B YoY-25.3%	1.41B YoY+52.6%	926M YoY-2.1%	946M YoY+13.6%
Long-term debt	568M YoY+0.5%	565M YoY-37.0%	896M YoY+153.5%	353M YoY-5.2%	373M YoY+22.4%
Deferred revenue (non-current)	—	—	—	—	6.20M YoY-15.7%
Non-current lease liability	95.7M YoY+7.3%	89.2M YoY-0.1%	89.3M YoY-5.4%	94.5M YoY-0.8%	95.2M YoY-0.8%
Operating lease liability (total)	112M YoY+4.2%	107M YoY-0.1%	107M YoY-3.7%	111M YoY+0.2%	111M YoY-1.4%
Deferred tax liabilities	—	—	—	—	9.92M YoY-1.7%
Other non-current liabilities	38.9M YoY+3.7%	37.5M YoY-11.9%	42.6M YoY+3.6%	41.1M YoY+1.5%	40.5M YoY+64.2%
	1.36B YoY+13.3%	1.20B YoY+5.2%	1.14B YoY+7.3%	1.07B YoY+22.4%	871M YoY+6.9%
Additional paid-in capital	231M YoY+21.9%	189M YoY+27.5%	148M YoY+10.1%	135M YoY+16.4%	116M YoY+10.2%
Retained earnings	1.13B YoY+9.9%	1.03B YoY+3.7%	990M YoY+8.1%	915M YoY+21.0%	756M YoY+6.2%
Accumulated other comprehensive income	6.20M YoY+152.5%	-11.8M YoY-293.0%	6.11M YoY-62.5%	16.3M YoY+1442.1%	-1.22M YoY+53.3%
Non-controlling interest	—	—	—	—	645K YoY+7.3%
Total equity incl. non-controlling	—	1.20B YoY+5.2%	1.14B YoY+7.3%	1.07B YoY+22.3%	871M YoY+6.9%
Total liabilities & equity	2.55B YoY+12.6%	2.26B YoY-11.5%	2.56B YoY+28.3%	1.99B YoY+9.6%	1.82B YoY+10.3%
	37.8M YoY+0.3%	37.7M YoY+1.0%	37.3M YoY-0.3%	37.4M YoY-0.4%	37.6M YoY-1.8%
	37.8M YoY+0.3%	37.7M YoY+1.0%	37.3M YoY-0.3%	37.4M YoY-0.4%	37.6M YoY-1.8%
	37.8M YoY+0.1%	37.7M YoY+1.1%	37.3M YoY-0.4%	37.5M YoY-0.2%	37.6M YoY-1.9%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	233M YoY+78.4%	131M YoY-37.4%	209M YoY+13.8%	184M YoY+30.9%	140M YoY-30.3%
Depreciation & amortization	62.0M YoY-9.5%	68.5M YoY+3.0%	66.5M YoY+10.3%	60.3M YoY+14.0%	52.9M YoY+10.7%
Intangible amortization	22.1M YoY-15.0%	26.0M YoY-8.1%	28.3M YoY+8.4%	26.1M YoY+18.4%	22.1M YoY+9.6%
Share-based compensation	55.7M YoY+21.4%	45.9M YoY+48.1%	31.0M YoY+56.2%	19.8M YoY+26.1%	15.7M YoY+28.3%
Deferred income taxes	-13.8M YoY+32.7%	-20.5M YoY+39.7%	-34.0M YoY-492.7%	-5.74M YoY-532.6%	1.33M YoY+313.2%
Change in receivables	57.4M YoY+493.2%	-14.6M YoY+37.3%	-23.3M YoY-139.1%	59.6M YoY+1231.3%	-5.27M YoY+65.8%
Change in inventory	47.4M YoY+69.9%	27.9M YoY+171.0%	-39.3M YoY-221.9%	32.2M YoY-72.1%	116M YoY+1092.8%
Change in payables	79.3M YoY+13316.7%	-600K YoY+97.7%	-26.1M YoY+9.1%	-28.7M YoY-142.8%	67.1M YoY+239.3%
	-110M YoY-49.2%	-73.6M YoY-13.8%	-64.7M YoY+68.9%	-208M YoY-340.3%	-47.3M YoY-10.4%
Capital expenditure	107M YoY+89.1%	56.8M YoY-6.9%	61.0M YoY+3.6%	58.9M YoY+104.3%	28.8M YoY-20.8%
Free cash flow	126M YoY+70.1%	74.0M YoY-50.0%	148M YoY+18.6%	125M YoY+11.9%	111M YoY-32.4%
Acquisitions	0.00 YoY-100.0%	13.8M	0.00 YoY-100.0%	149M YoY+593.7%	21.5M YoY+293.3%
	-56.1M YoY+85.1%	-377M YoY-184.6%	446M YoY+820.4%	-61.9M YoY-143.8%	-25.4M YoY+14.3%
Long-term debt issued	0.00	0.00	0.00	0.00 YoY-100.0%	85.0M
Long-term debt repaid	0.00	0.00	0.00	0.00	0.00
Common stock issued	0.00	0.00	0.00	0.00	0.00
Common stock repurchased	30.2M YoY+1577.8%	1.80M YoY-95.5%	40.0M YoY+50.2%	26.6M YoY-65.9%	78.1M YoY+571.8%
Dividends paid	15.6M YoY+1.3%	15.4M YoY+1.3%	15.2M YoY-0.0%	15.2M YoY-1.2%	15.4M
Net change in cash	69.1M YoY+121.4%	-323M YoY-155.1%	586M YoY+784.7%	-85.6M YoY-233.7%	64.0M YoY-52.2%
Interest paid	14.7M YoY-15.0%	17.3M YoY+20.1%	14.4M YoY+117.9%	6.61M YoY+63.6%	4.04M YoY-23.5%
Income taxes paid	-20.8M YoY-162.5%	33.3M YoY-30.5%	47.9M YoY+173.0%	17.5M YoY-46.1%	32.5M YoY+54.7%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	7.90B YoY+81.2%	4.36B YoY+7.4%	4.06B YoY+26.6%	3.21B YoY-6.2%	3.42B YoY-7.9%
P/E	53.3× YoY-33.8%	80.5× YoY+166.5%	30.2× YoY+84.1%	16.4× YoY-35.4%	25.4× YoY-8.0%
P/S	4.4× YoY+49.3%	2.9× YoY+26.2%	2.3× YoY+27.4%	1.8× YoY-22.1%	2.3× YoY-10.5%
P/B	5.8× YoY+60.0%	3.6× YoY-1.7%	3.7× YoY+13.8%	3.2× YoY-17.5%	3.9× YoY-13.8%
P/FCF	62.8× YoY+6.5%	58.9× YoY+87.9%	31.4× YoY-2.1%	32.0× YoY+4.4%	30.7× YoY+36.3%
	1.9% YoY+51.1%	1.2% YoY-62.5%	3.3% YoY-45.7%	6.1% YoY+54.8%	3.9% YoY+8.6%
	1.6% YoY-6.1%	1.7% YoY-46.8%	3.2% YoY+2.1%	3.1% YoY-4.2%	3.3% YoY-26.6%
	0.19% YoY-44.8%	0.35% YoY-5.8%	0.37% YoY-21.2%	0.47% YoY+6.2%	0.44%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: AEIS's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all AEIS filings on SEC EDGAR → Not investment advice.