ADVANCED ENERGY INDUSTRIES INC

Listed Company

AEISCIK 0000927003NasdaqLarge AcceleratedElectronic Components, NecDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.80B

Net Income

$148.40M

Total Assets

$2.55B

Equity

$1.36B

Shares Out

37.75M

Op. Cash Flow

$233.30M

Business

ADVANCED ENERGY INDUSTRIES INC provides precision power conversion, measurement, and control solutions that transform raw electrical power into highly controllable, predictable, and customizable power for complex equipment. It designs, manufactures, sells, and supports precision power products, plasma power systems, high- and low-voltage power supplies, sensing, control, and instrumentation, plus repair, calibration, upgrades, and refurbishment services. The company operates as a single power electronics conversion segment serving Semiconductor Equipment, Industrial and Medical, Data Center Computing, and Telecom and Networking markets. Its products are sold worldwide through direct sales, distributors, and independent representatives, supported by global service centers and manufacturing in Asia, Mexico, and limited sites in the U.S. and Europe.

Summary from filing dated 2025-02-18

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue, net	1,799	1,482	1,656	1,845	1,456
Cost of revenue	1,121	953	1,063	1,170	924
Gross profit	677	529	592	676	532
Research and development	232	212	202	191	162
Selling, general, and administrative	242	225	221	218	192
Amortization of intangible assets	22	26	28	26	22
Restructuring, asset impairments, and other charges	13	30	27	7	5
Total operating expenses	509	493	479	442	381
Operating income	168	37	114	233	152
Interest income	27	43	27	4	454,000
Interest expense	−17	−25	−17	−7	−4
Other expense, net	−9	−2	−2	12	152,000
Income from continuing operations, before income tax	169	52	123	242	149
Income tax provision (benefit)	19	−4	−8	40	14
Income from continuing operations	149	56	131	202	—
Loss from discontinued operations, net of income tax	−900,000	−2	−3	−2	—
Net income	148	54	128	200	135
Basic weighted-average common shares outstanding	38	38	38	37	38
Diluted weighted-average common shares outstanding	39	38	38	38	38
Basic earnings per share	3.97	1.5	3.49	5.39	3.53
Diluted earnings per share	3.87	1.49	3.46	5.35	3.51
Basic loss per share	−0.02	−0.06	−0.07	−0.06	—
Diluted loss per share	−0.02	−0.06	−0.07	−0.06	—
Basic earnings per share	3.95	1.45	3.42	5.33	3.53
Diluted earnings per share	3.84	1.43	3.4	5.29	3.51

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	791	722	1,045	459	544
Accounts receivable, net	325	265	282	301	—
Inventories	411	360	336	376	338
Other current assets	46	42	49	53	42
Total current assets	1,574	1,389	1,712	1,189	1,162
Property and equipment, net	273	186	168	148	115
Operating lease right-of-use assets	98	96	95	100	102
Other assets	183	155	136	84	67
Intangible assets, net	118	139	161	190	159
Goodwill	301	296	284	281	212
TOTAL ASSETS	2,546	2,262	2,557	1,992	1,817
Accounts payable	224	144	142	170	194
Accrued payroll and employee benefits	93	68	74	83	56
Other accrued expenses	78	74	67	77	63
Customer deposits and other	13	12	16	26	22
Current debt	568	—	20	20	20
Current portion of operating lease liabilities	16	18	18	17	16
Total current liabilities	991	314	336	393	370
Long-term debt, net	—	565	896	353	373
Operating lease liabilities	96	89	89	94	95
Defined employee benefit pension plan	49	50	49	44	67
Other long-term liabilities	39	38	43	41	40
Total liabilities	1,175	1,055	1,413	926	946
Deferred compensation	8	4	—	—	—
Commitments and contingencies (Note 15)	—	—	—	—	—
Preferred stock, $0.001 par value, 1.0 shares authorized, none issued and outstanding	—	—	—	—	—
Common stock, $0.001 par value, 70.0 shares authorized; 37.8 and 37.7 issued and outstanding at December 31, 2025 and December 31, 2024, respectively	—	—	37,000	37,000	38,000
Common stock associated with deferred compensation plan	−3	−900,000	—	—	—
Additional paid-in capital	231	189	148	135	116
Accumulated other comprehensive income (loss)	6	−12	6	16	−1
Retained earnings	1,129	1,027	990	915	756
Total stockholders' equity	1,363	1,203	1,144	1,066	871
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	2,546	2,262	2,557	1,992	1,817

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	62	69	67	60	53
Stock-based compensation	56	46	31	20	16
Amortization and write off of debt issuance costs and debt discount	3	4	1	547,000	—
Deferred income taxes	−14	−21	−34	−6	1
Other	800,000	1	500,000	−4	—
Accounts receivable, net	−57	15	23	−60	5
Inventories	−47	−28	39	−32	−116
Other assets	−10	−2	5	−20	−3
Accounts payable	79	−600,000	−26	−29	67
Operating lease right-of-use assets and operating lease liabilities, net	3	−900,000	600,000	2	—
Other liabilities and accrued expenses	10	−5	−25	49	−18
Net cash from operating activities from continuing operations	235	133	213	184	141
Net cash from operating activities from discontinued operations	−1	−2	−4	−144,000	−669,000
Net cash from operating activities	233	131	209	184	140
Purchases of long-term investments	−2	−3	−4	—	—
Purchases of property and equipment	−107	−57	−61	−59	−29
Acquisitions, net of cash acquired	—	−14	—	−149	−22
Net cash from investing activities	−110	−74	−65	−208	−47
Proceeds from long-term borrowings	—	—	575	—	85
Payment of debt issuance costs	—	−100,000	−14	—	−1
Dividend payments	−16	−15	−15	−15	−15
Payments on long-term borrowings	−2	−355	−20	−20	−14
Payment for purchase of note hedges	—	—	−115	—	—
Payment of acquisition holdback	−2	—	75	—	—
Purchase and retirement of common stock	−30	−2	−40	−27	−78
Net payments related to stock-based awards	−7	−5	−100,000	−26,000	−2
Net cash from financing activities	−56	−377	446	−62	−25
EFFECT OF CURRENCY TRANSLATION ON CASH AND CASH EQUIVALENTS	2	−3	−4	996,000	−4
NET CHANGE IN CASH AND CASH EQUIVALENTS	69	−323	586	−86	64

Filings

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