Advanced Energy Industries Inc (AEIS) financial statements: income statement, balance sheet and cash flow

Advanced Energy Industries Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Advanced Energy Industries Inc reported revenue of $1.8B (+21.4% year on year).

Income statement

Advanced Energy Industries Inc income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Revenue, net	$1.8B	$1.5B	$1.7B	$1.8B
Cost of revenue	$1.1B	$952.7M	$1.1B	$1.2B
Gross profit	$677.4M	$529.3M	$592.4M	$675.5M
Research and development	$232.4M	$211.8M	$202.4M	$191.0M
Selling, general, and administrative	$242.4M	$224.5M	$221.0M	$218.5M
Amortization of intangible assets	$22.1M	$26.0M	$28.3M	$26.1M
Restructuring, asset impairments, and other charges	$12.5M	$30.3M	$27.0M	—
Total operating expenses	$509.4M	$492.7M	$478.7M	$442.4M
Operating income	$168.0M	$36.6M	$113.7M	$233.1M
Interest income	$26.6M	$42.9M	$27.1M	—
Interest expense	($16.7M)	($25.1M)	($16.6M)	—
Other expense, net	($9.2M)	($2.0M)	($1.8M)	$8.6M
Income from continuing operations, before income tax	$168.7M	$52.4M	$122.5M	$241.7M
Income tax provision (benefit)	$19.4M	($3.9M)	($8.3M)	$39.9M
Income from continuing operations	$149.3M	$56.3M	$130.7M	$201.9M
Loss from discontinued operations, net of income tax	($900.0K)	($2.1M)	—	—
Basic weighted-average common shares outstanding	37.6M	37.5M	37.5M	37.5M
Diluted weighted-average common shares outstanding	38.6M	37.8M	37.8M	37.7M
Basic earnings per share	$3.97	$1.50	$3.49	$5.39
Diluted earnings per share	$3.87	$1.49	$3.46	$5.35
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
Diluted earnings per share	$3.84	$1.43	$3.40	$5.29

Advanced Energy Industries Inc income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Revenue, net	$574.1M	$511.0M	$463.3M	$441.5M
Cost of revenue	$338.0M	$310.1M	$288.9M	$278.1M
Gross profit	$236.1M	$200.9M	$174.4M	$163.4M
Research and development	$65.0M	$62.4M	$59.1M	$59.0M
Selling, general, and administrative	$69.4M	$62.3M	$59.8M	$60.2M
Amortization of intangible assets	$5.2M	$5.3M	$5.6M	$5.6M
Restructuring, asset impairments, and other charges	$1.4M	$2.6M	$700.0K	$7.0M
Total operating expenses	$141.0M	$132.6M	$125.2M	$131.8M
Operating income	$95.1M	$68.3M	$49.2M	$31.6M
Interest income	$8.2M	$5.8M	$6.6M	$6.6M
Interest expense	($3.3M)	($4.1M)	($4.2M)	($4.2M)
Loss on induced conversion of debt	($31.8M)	—	—	—
Other expense, net	($1.6M)	—	$700.0K	($4.7M)
Income from continuing operations, before income tax	$66.6M	$70.0M	$52.3M	$29.3M
Income tax provision	$12.1M	$2.7M	$5.9M	$3.8M
Income from continuing operations	$54.5M	$67.3M	$46.4M	$25.5M
Loss from discontinued operations, net of income tax	($400.0K)	($500.0K)	($200.0K)	($300.0K)
Net income	$54.1M	$66.8M	$46.2M	$25.2M
Basic weighted-average common shares outstanding	38.9M	37.7M	37.6M	37.6M
Diluted weighted-average common shares outstanding	42.3M	42.2M	38.5M	37.8M
Basic earnings per share	$1.40	$1.79	$1.23	$0.68
Diluted earnings per share	$1.29	$1.59	$1.21	$0.67
Basic loss per share	-$0.01	-$0.01	-$0.01	-$0.01
Diluted loss per share	-$0.01	-$0.01	-$0.01	-$0.01
Basic earnings per share	$1.39	$1.77	$1.23	$0.67
Diluted earnings per share	$1.28	$1.58	$1.20	$0.67

Balance sheet

Advanced Energy Industries Inc balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$791.2M	$722.1M	$1.0B	$458.8M
Accounts receivable, net	$325.2M	$265.3M	$282.4M	—
Inventories	$411.2M	$360.4M	$336.1M	$376.0M
Other current assets	$46.3M	$41.5M	$48.8M	$53.0M
Total current assets	$1.6B	$1.4B	$1.7B	$1.2B
Property and equipment, net	$272.8M	$185.6M	$167.7M	$148.5M
Operating lease right-of-use assets	$98.1M	$96.3M	$95.4M	$100.2M
Other assets	$182.5M	$155.3M	$136.4M	$84.1M
Intangible assets, net	$117.7M	$139.4M	$161.5M	$189.5M
Goodwill	$300.8M	$296.0M	$283.8M	$281.4M
TOTAL ASSETS	$2.5B	$2.3B	$2.6B	$2.0B
Accounts payable	$224.1M	$143.5M	$141.8M	$170.5M
Accrued payroll and employee benefits	$93.0M	$67.9M	$73.6M	$82.7M
Other accrued expenses	$78.1M	$73.6M	$66.7M	$76.8M
Customer deposits and other	$12.7M	$11.5M	$16.0M	$26.3M
Current debt	$567.5M	—	$20.0M	$20.0M
Current portion of operating lease liabilities	$15.8M	$17.8M	$17.7M	$16.8M
Total current liabilities	$991.2M	$314.2M	$335.8M	$393.0M
Long-term debt, net	$0	$564.7M	$895.7M	$353.3M
Operating lease liabilities	$95.7M	$89.2M	$89.3M	$94.5M
Defined employee benefit pension plan	$49.4M	$49.6M	$49.1M	$44.0M
Other long-term liabilities	$38.9M	$37.5M	$42.6M	$41.1M
Total liabilities	$1.2B	$1.1B	$1.4B	$925.9M
Deferred compensation	$7.8M	$3.5M	—	—
Common stock associated with deferred compensation plan	($2.6M)	($911.0K)	—	—
Additional paid-in capital	$230.6M	$189.1M	$148.3M	$134.6M
Accumulated other comprehensive income (loss)	$6.2M	($11.8M)	$6.1M	$16.3M
Retained earnings	$1.1B	$1.0B	$989.7M	$915.3M
Total stockholders' equity	$1.4B	$1.2B	$1.1B	$1.1B
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$2.5B	$2.3B	$2.6B	$2.0B

Advanced Energy Industries Inc balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash and cash equivalents	$1.4B	$699.5M	$758.6M	$713.5M
Accounts receivable, net	$403.6M	$376.7M	$299.5M	$304.0M
Inventories	$538.1M	$458.7M	$399.7M	$397.9M
Other current assets	$72.7M	$54.4M	$44.9M	$44.1M
Total current assets	$2.4B	$1.6B	$1.5B	$1.5B
Property and equipment, net	$322.6M	$304.3M	$239.8M	$218.4M
Operating lease right-of-use assets	$100.9M	$102.0M	$102.6M	$107.3M
Other assets	$185.4M	$184.7M	$169.2M	$164.8M
Intangible assets, net	$107.2M	$112.4M	$123.1M	$128.7M
Goodwill	$299.8M	$300.2M	$300.7M	$300.9M
TOTAL ASSETS	$3.4B	$2.6B	$2.4B	$2.4B
Accounts payable	$316.3M	$272.1M	$194.7M	$191.6M
Accrued payroll and employee benefits	$69.8M	$60.1M	$74.2M	$58.2M
Other accrued expenses	$85.0M	$72.4M	$67.0M	$72.5M
Customer deposits and other	$14.0M	$12.1M	$12.7M	$15.3M
Current portion of long-term debt	$135.6M	$568.2M	—	—
Current portion of operating lease liabilities	$15.4M	$15.7M	$17.9M	$19.3M
Total current liabilities	$636.1M	$1.0B	$366.5M	$356.9M
Long-term debt, net	$1.1B	—	$566.8M	$566.1M
Operating lease liabilities	$97.4M	$99.2M	$98.1M	$102.1M
Defined employee benefit pension plan	$48.5M	$48.5M	$53.9M	$54.5M
Other long-term liabilities	$39.1M	$42.0M	$38.7M	$37.4M
Total liabilities	$1.9B	$1.2B	$1.1B	$1.1B
Deferred compensation	$21.0M	$18.2M	$6.9M	$5.3M
Common stock associated with deferred compensation plan	($14.4M)	($14.8M)	($2.6M)	($2.6M)
Additional paid-in capital	$243.8M	$217.6M	$217.2M	$205.2M
Accumulated other comprehensive income	$700.0K	$2.9M	$5.3M	$8.8M
Retained earnings	$1.2B	$1.2B	$1.1B	$1.0B
Total stockholders' equity	$1.5B	$1.4B	$1.3B	$1.3B
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$3.4B	$2.6B	$2.4B	$2.4B

Cash flow statement

Advanced Energy Industries Inc cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income	$148.4M	$54.2M	$128.3M	$199.7M
Less: loss from discontinued operations, net of income tax	($900.0K)	($2.1M)	—	($2.2M)
Income from continuing operations, net of income tax	$149.3M	$56.3M	$130.7M	—
Depreciation and amortization	$62.0M	$68.5M	$66.5M	$60.3M
Stock-based compensation	$55.7M	$45.9M	$31.0M	$19.8M
Amortization and write off of debt issuance costs and debt discount	$3.2M	$3.8M	—	—
Deferred income taxes	($13.8M)	($20.5M)	($33.9M)	—
Other	$800.0K	$1.2M	—	—
Accounts receivable, net	($57.4M)	$14.6M	$23.3M	($59.6M)
Inventories	($47.4M)	($27.9M)	$39.3M	($32.2M)
Other assets	($9.5M)	($2.1M)	$5.0M	($19.7M)
Accounts payable	$79.3M	($558.0K)	($26.1M)	($28.7M)
Operating lease right-of-use assets and operating lease liabilities, net	$2.5M	($943.0K)	—	—
Other liabilities and accrued expenses	$10.0M	($5.3M)	($23.4M)	$51.6M
Net cash from operating activities from continuing operations	$234.7M	$132.9M	$212.9M	$183.7M
Net cash from operating activities from discontinued operations	($1.4M)	($2.2M)	($4.0M)	($144.0K)
Net cash from operating activities	$233.3M	$130.7M	$208.9M	$183.6M
Purchases of long-term investments	($2.4M)	($3.0M)	($3.7M)	—
Purchases of property and equipment	($107.4M)	($56.8M)	($61.0M)	($58.9M)
Net cash from investing activities	($109.8M)	($73.5M)	($64.8M)	($208.3M)
Dividend payments	($15.6M)	($15.4M)	($15.2M)	($15.2M)
Payments on long-term borrowings	($1.9M)	($355.0M)	($20.0M)	($20.0M)
Payment of acquisition holdback	($1.5M)	—	—	—
Purchase and retirement of common stock	($30.2M)	($1.8M)	($40.0M)	($26.6M)
Net payments related to stock-based awards	($6.9M)	($4.8M)	($79.0K)	($26.0K)
Net cash from financing activities	($56.1M)	($377.1M)	$445.7M	($61.9M)
EFFECT OF CURRENCY TRANSLATION ON CASH AND CASH EQUIVALENTS	$1.7M	($2.6M)	($4.1M)	$996.0K
NET CHANGE IN CASH AND CASH EQUIVALENTS	$69.1M	($322.5M)	$585.7M	($85.6M)
CASH AND CASH EQUIVALENTS, beginning of period	$722.1M	$1.0B	$458.8M	$544.4M
CASH AND CASH EQUIVALENTS, end of period	$791.2M	$722.1M	$1.0B	$458.8M

Advanced Energy Industries Inc cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net income	$120.9M	$66.8M	$96.1M	$49.9M
Less: loss from discontinued operations, net of income tax	($900.0K)	($500.0K)	($700.0K)	($500.0K)
Income from continuing operations, net of income tax	$121.8M	$67.3M	$96.8M	$50.4M
Depreciation and amortization	$32.3M	$15.8M	$46.8M	$31.7M
Stock-based compensation	$39.5M	$18.1M	$41.2M	$26.6M
Amortization of debt issuance costs and debt discount	$2.1M	$800.0K	$2.4M	$1.6M
Loss on induced conversion of debt	$31.8M	—	—	—
Deferred income taxes	$1.4M	$1.2M	—	—
Impairment charge on long-lived assets	$500.0K	—	$1.8M	$1.6M
Other	($300.0K)	—	($3.7M)	—
Accounts receivable, net	($79.9M)	($52.4M)	($31.2M)	($34.9M)
Inventories	($128.3M)	($48.4M)	($35.4M)	($32.6M)
Other assets	($20.9M)	($6.4M)	($5.7M)	($3.9M)
Accounts payable	$92.5M	$45.5M	$50.5M	$49.7M
Operating lease right-of-use assets and operating lease liabilities, net	($1.5M)	($500.0K)	$2.5M	$3.2M
Other liabilities and accrued expenses	($11.0M)	($46.6M)	($11.4M)	($17.7M)
Net cash from operating activities from continuing operations	$80.0M	($5.6M)	$154.6M	$75.7M
Net cash from operating activities from discontinued operations	($1.0M)	($400.0K)	($1.8M)	($1.6M)
Net cash from operating activities	$79.0M	($6.0M)	$152.8M	$74.1M
Purchases of long-term investments	($1.4M)	($1.4M)	($2.0M)	($1.6M)
Purchases of property and equipment	($86.1M)	($36.6M)	($69.9M)	($42.0M)
Net cash from investing activities	($87.5M)	($38.0M)	($71.9M)	($43.6M)
Payment of debt issuance costs	($100.0K)	—	($1.9M)	($1.9M)
Dividend payments	($7.9M)	($3.8M)	($11.6M)	($7.7M)
Purchase and retirement of common stock	($500.0K)	($500.0K)	($23.7M)	($23.7M)
Net payments related to stock-based awards	($39.1M)	($40.6M)	($8.3M)	($8.0M)
Proceeds from issuance of 2031 Notes, net	$1.1B	—	—	—
Premiums paid for Capped Call - 2031 Notes	($69.0M)	—	—	—
Payments related to induced conversion - 2028 Notes	($440.5M)	—	—	—
Proceeds from Note Hedges and Warrants unwind - 2028 Notes	$44.6M	—	—	—
Net cash from financing activities	$616.8M	($44.9M)	($47.0M)	($42.8M)
Effect of currency translation on cash, cash equivalents and restricted cash	($1.0M)	($900.0K)	$2.6M	$3.7M
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	$607.3M	($89.8M)	$36.5M	($8.6M)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period	$791.2M	$791.2M	$722.1M	$722.1M
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period	$1.4B	$701.4M	—	—

Advanced Energy Industries Inc score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.