Recent News
On December 4, 2025 the company announced the SLB350, a 350 W open-frame power supply for industrial markets. On October 31, 2025 the board declared a quarterly cash dividend of $0.10 per share payable December 5, 2025. On October 14, 2025 Advanced Energy showcased power solutions for AI data centers at the OCP Global Summit. The company scheduled investor presentations across November–December 2025 and into January 2026. On January 6, 2026 a market publication named Advanced Energy its stock-of-the-day, citing expanding data-center demand and recent corporate updates.
Technical Analysis
ADX at 12.63 indicates no strong trend; directional strength lacks the momentum typically associated with sustained breakout moves. Despite that, directional indicators present a bullish tilt: DI+ at 21.8 showing a dip-and-reversal, which signals bullish directional pressure, while DI- at 20.54 shows a peak-and-reversal, also consistent with reduced downside directional pressure.
MACD stands at 3.68 with a dip-and-reversal and sits above its signal line (3.16); that cross above the signal line confirms bullish momentum in the moving-average convergence/divergence framework and supports near-term upside bias.
MRO reads 24.34 and indicates the market price sits above the model target, creating potential downward pressure on the price as the measure normalizes; the recent MRO dip-and-reversal suggests that this pressure has moderated but still warrants attention for mean-reversion risk.
RSI at 59.16 with a dip-and-reversal shows a recent pullback followed by renewed upward momentum while remaining below overbought thresholds, supporting the case for additional short-term gains without immediate overextension.
Price sits at $229.70 above the 20-day average ($216.73), 50-day average ($211.60), and 200-day average ($154.37), and trades between the 1x and 2x upper Bollinger band boundaries ($224.34 / $231.94). The 12-day EMA at $219.41 shows a dip-and-reversal and the ichimoku Tenkan/Kijun (≈$217.72/$216.15) plus Senkou support ($209.33/$192.00) provide layered technical support; the super-trend lower at $210.03 acts as a nearer-term structural floor. Volume has recently run above the 10-day average (10-day avg: 270,779; current volume: 560,309), reinforcing the validity of the latest directional moves.
Short-term volatility looks elevated — 42-day beta 2.72 and 52-week beta 2.02 — which implies larger-than-average intramarket swings that can amplify both gains and pullbacks in the coming weeks.
Fundamental Analysis
Earnings and revenue: GAAP-related metrics show EPS of $1.74 versus an estimate of $1.47, a beat of $0.27 representing an EPS surprise of 18.37%. Total revenue stood at $463.3 million with year-over-year revenue growth of 94.41% and a quarter-over-quarter decline of 45.86%.
Margins and profitability: gross margin at 37.64% sits below the industry peer mean of 41.04% and the industry peer median of 38.09%. Operating margin at 10.77% and EBIT margin at 12.02% both fall below the industry peer mean (operating margin mean 17.41%; EBIT margin mean 17.83%) and the industry peer median. EBIT margin improved sequentially (EBIT margin QoQ showed a large positive change) while the year-over-year margin change registered a decline of about 6.51 percentage points.
Cash flow and balance sheet: operating cash flow equaled $78.7 million, free cash flow reached $50.8 million with a free cash flow yield of 0.78% that sits above the industry peer mean of 0.43%. Cash and short-term investments totaled $758.6 million giving a cash ratio of 2.07 and a current ratio of 4.10, both reflecting strong near-term liquidity relative to liabilities. Total debt measured $682.8 million with debt-to-assets of 28.01% and debt-to-EBITDA of 9.64x, signaling meaningful leverage versus operating earnings.
Efficiency and returns: asset turnover at 0.192 is slightly below the industry peer mean (0.203), return on equity at 3.53% and return on assets at 1.92% both lag the industry peer mean levels. Research & development at $59.1 million supports ongoing product innovation tied to data-center and semiconductor end markets.
Valuation context: price multiples read elevated — trailing PE ~99.46 (near the industry peer mean of ~100.47), price-to-book ~4.99 (below the industry peer mean of ~7.35), and PEG around 6.22 (above the industry peer mean of ~5.34). WMDST values the stock as fair-valued. The consensus analyst price-target mean sits at $269.47 with a high target near $422.99 and a low at $129.09, indicating a wide range of outcomes reflected in market expectations.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-09-30 |
| REPORT DATE: | 2025-11-04 |
| NEXT REPORT DATE: | 2026-02-03 |
| CASH FLOW | Begin Period Cash Flow | $ 713.5 M |
| Operating Cash Flow | $ 78.7 M | |
| Capital Expenditures | $ -27.90 M | |
| Change In Working Capital | $ 5.5 M | |
| Dividends Paid | $ -3.90 M | |
| Cash Flow Delta | $ 45.1 M | |
| End Period Cash Flow | $ 758.6 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 463.3 M | |
| Forward Revenue | $ 184.0 M | |
| COSTS | ||
| Cost Of Revenue | $ 288.9 M | |
| Depreciation | $ 9.5 M | |
| Depreciation and Amortization | $ 15.1 M | |
| Research and Development | $ 59.1 M | |
| Total Operating Expenses | $ 413.4 M | |
| PROFITABILITY | ||
| Gross Profit | $ 174.4 M | |
| EBITDA | $ 70.8 M | |
| EBIT | $ 55.7 M | |
| Operating Income | $ 49.9 M | |
| Interest Income | $ 6.6 M | |
| Interest Expense | $ 3.4 M | |
| Net Interest Income | $ 2.4 M | |
| Income Before Tax | $ 52.3 M | |
| Tax Provision | $ 5.9 M | |
| Tax Rate | 11.281 % | |
| Net Income | $ 46.2 M | |
| Net Income From Continuing Operations | $ 46.4 M | |
| EARNINGS | ||
| EPS Estimate | $ 1.47 | |
| EPS Actual | $ 1.74 | |
| EPS Difference | $ 0.27 | |
| EPS Surprise | 18.367 % | |
| Forward EPS | $ 1.95 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 2.4 B | |
| Intangible Assets | $ 423.8 M | |
| Net Tangible Assets | $ 883.4 M | |
| Total Current Assets | $ 1.5 B | |
| Cash and Short-Term Investments | $ 758.6 M | |
| Cash | $ 758.6 M | |
| Net Receivables | $ 299.5 M | |
| Inventory | $ 399.7 M | |
| Long-Term Investments | $ 169.2 M | |
| LIABILITIES | ||
| Accounts Payable | $ 194.7 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 366.5 M | |
| Net Debt | — | |
| Total Debt | $ 682.8 M | |
| Total Liabilities | $ 1.1 B | |
| EQUITY | ||
| Total Equity | $ 1.3 B | |
| Retained Earnings | $ 1.1 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 34.66 | |
| Shares Outstanding | 37.720 M | |
| Revenue Per-Share | $ 12.28 | |
| VALUATION | Market Capitalization | $ 6.5 B |
| Enterprise Value | $ 6.5 B | |
| Enterprise Multiple | 91.133 | |
| Enterprise Multiple QoQ | -15.977 % | |
| Enterprise Multiple YoY | -73.43 % | |
| Enterprise Multiple IPRWA | high: 230.414 AEIS: 91.133 median: 74.716 mean: 59.072 low: -197.639 |
|
| EV/R | 13.927 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.865 | |
| Asset To Liability | 2.156 | |
| Debt To Capital | 0.343 | |
| Debt To Assets | 0.28 | |
| Debt To Assets QoQ | -3.067 % | |
| Debt To Assets YoY | 1571.94 % | |
| Debt To Assets IPRWA | high: 0.788 AEIS: 0.28 median: 0.276 mean: 0.229 low: 0.002 |
|
| Debt To Equity | 0.522 | |
| Debt To Equity QoQ | -4.475 % | |
| Debt To Equity YoY | 1556.119 % | |
| Debt To Equity IPRWA | high: 1.475 median: 0.601 AEIS: 0.522 mean: 0.474 low: -0.674 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 4.994 | |
| Price To Book QoQ | 19.262 % | |
| Price To Book YoY | 46.831 % | |
| Price To Book IPRWA | high: 15.545 mean: 7.354 median: 6.409 AEIS: 4.994 low: -8.049 |
|
| Price To Earnings (P/E) | 99.462 | |
| Price To Earnings QoQ | 15.219 % | |
| Price To Earnings YoY | -7.28 % | |
| Price To Earnings IPRWA | high: 383.521 median: 124.306 mean: 100.474 AEIS: 99.462 low: -251.079 |
|
| PE/G Ratio | 6.216 | |
| Price To Sales (P/S) | 14.09 | |
| Price To Sales QoQ | 18.161 % | |
| Price To Sales YoY | 33.144 % | |
| Price To Sales IPRWA | high: 84.038 median: 20.662 mean: 17.793 AEIS: 14.09 low: 0.0 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 120.71 | |
| Forward PE/G | 7.544 | |
| Forward P/S | 55.447 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 14.245 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.192 | |
| Asset Turnover Ratio QoQ | 1.978 % | |
| Asset Turnover Ratio YoY | 21.674 % | |
| Asset Turnover Ratio IPRWA | high: 0.503 median: 0.235 mean: 0.203 AEIS: 0.192 low: 0.001 |
|
| Receivables Turnover | 1.535 | |
| Receivables Turnover Ratio QoQ | 0.973 % | |
| Receivables Turnover Ratio YoY | 7.049 % | |
| Receivables Turnover Ratio IPRWA | high: 3.347 AEIS: 1.535 mean: 1.457 median: 1.405 low: 0.271 |
|
| Inventory Turnover | 0.724 | |
| Inventory Turnover Ratio QoQ | -0.142 % | |
| Inventory Turnover Ratio YoY | 14.761 % | |
| Inventory Turnover Ratio IPRWA | high: 2.365 median: 1.192 mean: 1.051 AEIS: 0.724 low: 0.134 |
|
| Days Sales Outstanding (DSO) | 59.432 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 126.909 | |
| Cash Conversion Cycle Days QoQ | -6.088 % | |
| Cash Conversion Cycle Days YoY | -17.639 % | |
| Cash Conversion Cycle Days IPRWA | high: 384.751 AEIS: 126.909 mean: 115.227 median: 85.242 low: -90.357 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.408 | |
| CapEx To Revenue | -0.06 | |
| CapEx To Depreciation | -2.937 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 1.9 B | |
| Net Invested Capital | $ 1.9 B | |
| Invested Capital | $ 1.9 B | |
| Net Tangible Assets | $ 883.4 M | |
| Net Working Capital | $ 1.1 B | |
| LIQUIDITY | ||
| Cash Ratio | 2.07 | |
| Current Ratio | 4.1 | |
| Current Ratio QoQ | 0.263 % | |
| Current Ratio YoY | -11.183 % | |
| Current Ratio IPRWA | high: 11.805 AEIS: 4.1 mean: 2.624 median: 2.07 low: 0.373 |
|
| Quick Ratio | 3.01 | |
| Quick Ratio QoQ | 1.178 % | |
| Quick Ratio YoY | -9.366 % | |
| Quick Ratio IPRWA | high: 9.468 AEIS: 3.01 mean: 2.097 median: 1.518 low: 0.295 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 9.644 | |
| Cost Of Debt | 0.44 % | |
| Interest Coverage Ratio | 16.382 | |
| Interest Coverage Ratio QoQ | 70.336 % | |
| Interest Coverage Ratio YoY | -1379.062 % | |
| Interest Coverage Ratio IPRWA | high: 88.732 median: 21.333 AEIS: 16.382 mean: 13.472 low: -113.26 |
|
| Operating Cash Flow Ratio | 0.183 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 63.376 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 11.846 | |
| Dividend Payout Ratio | 0.084 | |
| Dividend Rate | $ 0.10 | |
| Dividend Yield | 0.001 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 2.458 % | |
| Revenue Growth | 4.938 % | |
| Revenue Growth QoQ | -45.855 % | |
| Revenue Growth YoY | 94.409 % | |
| Revenue Growth IPRWA | high: 79.411 % median: 9.63 % mean: 6.393 % AEIS: 4.938 % low: -44.732 % |
|
| Earnings Growth | 16.0 % | |
| Earnings Growth QoQ | -27.11 % | |
| Earnings Growth YoY | 4.616 % | |
| Earnings Growth IPRWA | high: 164.706 % AEIS: 16.0 % median: 14.815 % mean: 8.671 % low: -200.0 % |
|
| MARGINS | ||
| Gross Margin | 37.643 % | |
| Gross Margin QoQ | 1.71 % | |
| Gross Margin YoY | 5.072 % | |
| Gross Margin IPRWA | high: 97.907 % mean: 41.044 % median: 38.088 % AEIS: 37.643 % low: -43.101 % |
|
| EBIT Margin | 12.022 % | |
| EBIT Margin QoQ | 62.306 % | |
| EBIT Margin YoY | -650.71 % | |
| EBIT Margin IPRWA | high: 44.499 % median: 19.896 % mean: 17.834 % AEIS: 12.022 % low: -228.471 % |
|
| Return On Sales (ROS) | 10.771 % | |
| Return On Sales QoQ | 23.196 % | |
| Return On Sales YoY | -593.404 % | |
| Return On Sales IPRWA | high: 44.617 % median: 18.276 % mean: 17.409 % AEIS: 10.771 % low: -228.471 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 50.8 M | |
| Free Cash Flow Yield | 0.778 % | |
| Free Cash Flow Yield QoQ | 139.385 % | |
| Free Cash Flow Yield YoY | 43.808 % | |
| Free Cash Flow Yield IPRWA | high: 2.804 % median: 0.858 % AEIS: 0.778 % mean: 0.432 % low: -13.716 % |
|
| Free Cash Growth | 197.076 % | |
| Free Cash Growth QoQ | 1307.686 % | |
| Free Cash Growth YoY | -153.891 % | |
| Free Cash Growth IPRWA | high: 288.449 % AEIS: 197.076 % median: 8.386 % mean: -23.332 % low: -351.784 % |
|
| Free Cash To Net Income | 1.1 | |
| Cash Flow Margin | 14.483 % | |
| Cash Flow To Earnings | 1.452 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 1.918 % | |
| Return On Assets QoQ | 78.087 % | |
| Return On Assets YoY | -404.444 % | |
| Return On Assets IPRWA | high: 6.668 % mean: 2.597 % median: 2.338 % AEIS: 1.918 % low: -24.617 % |
|
| Return On Capital Employed (ROCE) | 2.689 % | |
| Return On Equity (ROE) | 0.035 | |
| Return On Equity QoQ | 76.347 % | |
| Return On Equity YoY | -376.094 % | |
| Return On Equity IPRWA | high: 0.289 median: 0.068 mean: 0.059 AEIS: 0.035 low: -0.264 |
|
| DuPont ROE | 3.603 % | |
| Return On Invested Capital (ROIC) | 2.637 % | |
| Return On Invested Capital QoQ | 68.93 % | |
| Return On Invested Capital YoY | 105.855 % | |
| Return On Invested Capital IPRWA | high: 9.897 % mean: 3.562 % median: 2.823 % AEIS: 2.637 % low: -14.977 % |
|