MeritValue

ADVANCED ENERGY INDUSTRIES INC

AEISdata completeness 100%17 fiscal years on file
i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$1.46B1$1.85B2$1.66B3$1.48B3$1.8B3
Net income$134.7M4$199.7M5$128.3M5$54.2M5$148.4M6
Operating cash flow$140.2M7$183.6M8$208.9M9$130.8M9$233.3M9
Capital expenditure$28.8M10$58.9M11$61M12$56.8M12$107.4M12
Free cash flow (derived)$111.4M7$124.7M8$147.9M9$74M9$125.9M9
Total debt$785.5M13$746.5M14$1.83B15$1.13B16$1.14B17
Cash & equivalents$544.4M18$458.8M19$1.04B20$722.1M21$791.2M21
Diluted shares38.4M37.7M37.8M37.8M38.6M

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

ii. Your slice — ownership made literal
If you owned
shares
You’d own
0.000026%
of the whole company
Your share of last year’s profit
$38.45
Your share of its debt
$294.04
Your share of free cash flow
$32.62
iii. What it’s worth — engine v0.1.0
DCF · Growth Exit 10Y
$36.27
assumptions (10)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears10
  • fcfGrowth0.3%
  • fcfBase$125.9M
DCF · Growth Exit 5Y
$39.51
assumptions (10)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears5
  • fcfGrowth0.3%
  • fcfBase$125.9M
Earnings Power Value
$36.78
assumptions (8)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • normalizedEarnings$134.7M
  • growthAssumed0.0%
Graham Number
$55.23
assumptions (1)
  • grahamMultiplier2250.0%

Different models answer different questions — which to trust when →

iv. The price question — last, on purpose
What does today’s price assume?
Type a price. The ledger answers.
Or set your own belief
FCF growth, next 5 years0.3%
Discount rate (WACC)8.78%
Terminal growth2.5%
At your growth, a share is worth $39.51

Default growth 0.3%= this company’s own filed history (median-to-median FCF CAGR, clamped 0–20%). Your adjustments are recorded anonymously. They become the “what do owners actually believe” dataset.

Sources — the receipts
  1. 10-K · period ending 2021-12-31 · accession 0000927003-24-000003 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K · period ending 2022-12-31 · accession 0001558370-25-001038 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 10-K · period ending 2023-12-31 · accession 0001104659-26-014731 (RevenueFromContractWithCustomerExcludingAssessedTax)
  4. 10-K · period ending 2021-12-31 · accession 0000927003-24-000003 (NetIncomeLoss)
  5. 10-K · period ending 2022-12-31 · accession 0001558370-25-001038 (NetIncomeLoss)
  6. 10-K · period ending 2025-12-31 · accession 0001104659-26-014731 (ProfitLoss)
  7. 10-K · period ending 2021-12-31 · accession 0000927003-24-000003 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2022-12-31 · accession 0001558370-25-001038 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2023-12-31 · accession 0001104659-26-014731 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2021-12-31 · accession 0000927003-24-000003 (PaymentsToAcquirePropertyPlantAndEquipment)
  11. 10-K · period ending 2022-12-31 · accession 0001558370-25-001038 (PaymentsToAcquirePropertyPlantAndEquipment)
  12. 10-K · period ending 2023-12-31 · accession 0001104659-26-014731 (PaymentsToAcquirePropertyPlantAndEquipment)
  13. 10-K · period ending 2021-12-31 · accession 0001558370-23-001498 (LongTermDebtNoncurrent)
  14. 10-K · period ending 2022-12-31 · accession 0000927003-24-000003 (LongTermDebtNoncurrent)
  15. 10-K · period ending 2023-12-31 · accession 0001558370-25-001038 (LongTermDebtNoncurrent)
  16. 10-K · period ending 2024-12-31 · accession 0001104659-26-014731 (LongTermDebtNoncurrent)
  17. 10-K · period ending 2025-12-31 · accession 0001104659-26-014731 (LongTermDebtCurrent)
  18. 10-K · period ending 2021-12-31 · accession 0001558370-23-001498 (CashAndCashEquivalentsAtCarryingValue)
  19. 10-K · period ending 2022-12-31 · accession 0000927003-24-000003 (CashAndCashEquivalentsAtCarryingValue)
  20. 10-K · period ending 2023-12-31 · accession 0001558370-25-001038 (CashAndCashEquivalentsAtCarryingValue)
  21. 10-K · period ending 2024-12-31 · accession 0001104659-26-014731 (CashAndCashEquivalentsAtCarryingValue)