Advanced Energy
AEIS · Semiconductor Materials & Equipment
$216.63
0.0%FormFactor
FORM · Semiconductor Materials & Equipment
$98.51
3.7%The short version
- Advanced Energy is the larger business, with $1.8B of revenue in fiscal 2025 against $785M for FormFactor, about 2.3 times as much.
- Advanced Energy grew revenue faster (21.4%, against 2.8%).
- Advanced Energy kept more of each dollar of sales as operating profit (9.3% operating margin, against 7.3% operating margin).
- Advanced Energy turned more of its sales into free cash flow (7.0% FCF margin, against 1.5% FCF margin).
- Advanced Energy earned a higher return on the capital invested in it (13.6%, against 6.8%).
- Investors pay more for each dollar of FormFactor’s earnings: a P/E of 67.5x against 40.3x for Advanced Energy.
| Latest fiscal year | AEIS · FY25 | FORM · FY25 |
|---|---|---|
| Size | ||
| Market cap | $9.2B | $7.8B |
| Revenue | $1.8B | $785M |
| Free cash flow | $126M | $11.7M |
| Net income | $148M | $54.4M |
| Growth | ||
| Revenue growth | 21.4% | 2.8% |
| 5-year growth | 4.9% | 2.5% |
| Share count change | 2.1% | −0.2% |
| Profitability | ||
| Gross margin | 37.7% | 39.3% |
| Operating margin | 9.3% | 7.3% |
| Net margin | 8.3% | 6.9% |
| FCF margin | 7.0% | 1.5% |
| Return on capital | 13.6% | 6.8% |
| Return on equity | 11.6% | 5.5% |
| Balance sheet | ||
| Net debt | −$224M | −$263M |
| Net debt / EBITDA | −1.0x | −2.7x |
| Dividends and buybacks | $45.8M | $26.2M |
| Valuation & quality | ||
| P/E | 40.3x | 67.5x |
| Piotroski F-score | 6 | 5 |
FY16
AEIS $327M
FORM $384M
FY17
AEIS $453M
FORM $548M
FY18
AEIS $719M
FORM $530M
FY19
AEIS $789M
FORM $590M
FY20
AEIS $1.4B
FORM $694M
FY21
AEIS $1.5B
FORM $770M
FY22
AEIS $1.8B
FORM $748M
FY23
AEIS $1.7B
FORM $663M
FY24
AEIS $1.5B
FORM $764M
FY25
AEIS $1.8B
FORM $785M
AEIS
FORM
FY16
AEIS 38.8%
FORM −12.5%
FY17
AEIS 44.3%
FORM 8.4%
FY18
AEIS 23.9%
FORM 6.8%
FY19
AEIS 6.9%
FORM 8.4%
FY20
AEIS 12.4%
FORM 12.1%
FY21
AEIS 10.4%
FORM 12.7%
FY22
AEIS 12.6%
FORM 7.3%
FY23
AEIS 6.9%
FORM 12.5%
FY24
AEIS 2.5%
FORM 8.5%
FY25
AEIS 9.3%
FORM 7.3%
AEIS
FORM
FY16
AEIS $112M
FORM $5.9M
FY17
AEIS $174M
FORM $68.6M
FY18
AEIS $131M
FORM $48.8M
FY19
AEIS $23.2M
FORM $100M
FY20
AEIS $165M
FORM $113M
FY21
AEIS $111M
FORM $72.9M
FY22
AEIS $125M
FORM $66.5M
FY23
AEIS $148M
FORM $8.6M
FY24
AEIS $74.0M
FORM $79.1M
FY25
AEIS $126M
FORM $11.7M
AEIS
FORM
FY16
AEIS —
FORM —
FY17
AEIS —
FORM 10.4%
FY18
AEIS —
FORM 7.9%
FY19
AEIS —
FORM 7.9%
FY20
AEIS 22.8%
FORM 15.4%
FY21
AEIS 20.0%
FORM 15.4%
FY22
AEIS 22.9%
FORM 8.4%
FY23
AEIS 11.4%
FORM 12.9%
FY24
AEIS 3.6%
FORM 9.5%
FY25
AEIS 13.6%
FORM 6.8%
AEIS
FORM
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.