Advanced Energy Industries, Inc. (AEIS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-74.2%

$57.12

vs $221.74 price

Levered DCF

$57.24

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

4.66

Safe zone

Rating

B-

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	53.01×	79.74×	125.2×	16.09×	25.8×	27.55×	41.88×	11.42×
P/B	5.78×	3.6×	3.58×	3.01×	3.99×	4.56×	4.03×	2.76×
P/S	4.38×	2.92×	2.47×	1.74×	2.39×	2.62×	3.45×	2.33×
EV / EBITDA	31.37×	29.35×	19.8×	10.47×	16.73×	15.49×	33.04×	7.01×
Gross margin	37.2%	35.7%	35.8%	36.6%	36.6%	38.3%	40.0%	50.9%
Operating margin	10.9%	2.5%	6.9%	12.6%	10.4%	12.4%	6.9%	23.9%
Net margin	8.2%	3.7%	7.7%	10.8%	9.3%	9.5%	8.2%	20.5%
Current ratio	1.59×	4.42×	5.1×	3.02×	3.14×	3.31×	2.71×	5.15×
Debt / equity	0.5×	0.56×	0.89×	0.45×	0.58×	0.53×	0.66×	0×
Interest coverage	11.69×	1.46×	6.86×	31.82×	42.42×	0×	0×	0×
Dividend yield	0.2%	0.4%	0.4%	0.5%	0.4%	0.0%	0.0%	0.0%
Payout ratio	10.5%	28.3%	11.9%	7.6%	11.4%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	10.9%	4.5%	11.2%	18.7%	15.5%	16.5%	9.6%	24.2%
Return on invested capital	8.1%	1.9%	5.0%	11.9%	9.3%	10.9%	3.7%	20.7%
Return on assets	5.8%	2.4%	5.0%	10.0%	7.4%	8.2%	4.2%	18.0%
Free cash flow yield	1.6%	1.7%	3.6%	3.9%	3.1%	4.4%	0.9%	7.8%
Earnings yield	1.9%	1.3%	3.1%	6.2%	3.9%	3.6%	2.4%	8.8%
Enterprise value	$7.8B	$4.3B	$4.1B	$3.2B	$3.4B	$3.7B	$2.8B	$1.3B
Net debt / EBITDA	-0.45×	-0.35×	-0.11×	0.08×	-0.2×	-0.19×	1.19×	-1.84×
Cash conversion cycle (days)	126	148	129	124	117	102	162	112