Advanced Energy Industries Inc. (AEIS) intrinsic value & 10-year financials
Advanced Energy Industries Inc. (AEIS) has a Graham intrinsic value of $42.21 per share. At $238.05 on Oct 17, 2026, the stock trades 464% above that value. Over the last 10 fiscal years revenue grew 15.7% a year to $1.8B, with an average return on invested capital of 20.8%.
- Graham intrinsic value
- $42.21
- Share price (Oct 17, 2026)
- $238.05
- Price vs Graham value
- 464% above
- Market cap
- $9.2B
- Revenue (FY2025)
- $1.8B
- Revenue growth (10-yr CAGR)
- 15.7%
- ROIC (10-yr avg)
- 20.8%
- Free cash flow (FY2025)
- $125.9M
AEIS 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $1.8B | $148.4M | $3.84 | $125.9M | 9.3% | 10.1% |
| FY2024 | $1.5B | $54.2M | $1.43 | $74.0M | 2.5% | 3.3% |
| FY2023 | $1.7B | $128.3M | $3.40 | $147.9M | 6.9% | 10.4% |
| FY2022 | $1.8B | $199.7M | $5.29 | $124.7M | 12.6% | 20.6% |
| FY2021 | $1.5B | $134.7M | $3.51 | $108.4M | 10.4% | 17.5% |
| FY2020 | $1.4B | $134.7M | $3.50 | $164.8M | 12.4% | 19.9% |
| FY2019 | $788.9M | $64.9M | $1.69 | $23.2M | 6.9% | 9.2% |
| FY2018 | $718.9M | $147.0M | $3.74 | $130.9M | 23.9% | 56.9% |
| FY2017 | $671.0M | $137.9M | $3.43 | $173.7M | 29.9% | 30.3% |
| FY2016 | $483.7M | $127.5M | $3.18 | $112.5M | 26.2% | 29.8% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
ADVANCED ENERGY INDUSTRIES INC is a consistent compounder, expanding top-line revenue at 15.7% annually over the past decade.
ADVANCED ENERGY INDUSTRIES INC has earned high returns on invested capital, averaging 18.5% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
ADVANCED ENERGY INDUSTRIES INC has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, ADVANCED ENERGY INDUSTRIES INC is modeled at 2.1% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $42.21 per share.