Short answer
ADVANCED ENERGY INDUSTRIES INC (AEIS) filed its fiscal 2025 10-K annual report with the SEC on Feb 13, 2026. It reported revenue of $1.8B (+21.4% year over year) and net income of $148M.
- Top risk flagged: U.S. tariffs and export controls risk with potential material impact on demand, costs, or sales from future trade policy changes or retaliatory measures
FY2025 key financial metrics · XBRL
- Revenue
- $1.8B
- +21.4% YoY
- Net income
- $148M
- +173.7% YoY
- Operating margin
- 9.3%
- +6.9 pp YoY
- Gross margin
- 37.7%
- +1.9 pp YoY
- EPS (diluted)
- $3.84
- +168.5% YoY
- ROE
- 10.9%
- +6.4 pp YoY
- Operating cash flow
- $233M
- +78.4% YoY
Source: XBRL data from the ADVANCED ENERGY INDUSTRIES INC (AEIS) FY2025 10-K on SEC EDGAR. USD.
ADVANCED ENERGY INDUSTRIES INC FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: precision power conversion, measurement, and control solutions for Semiconductor Equipment, Data Center, Industrial, Medical, Telecom markets
- New credit agreement entered May 8, 2025, replacing prior 2019 agreement with senior unsecured term loan and revolving facility maturing 2030
- Appointment of HSBC Bank USA, N.A. as administrative agent under new credit facility
- Financing terms of new credit agreement substantially same as previous, with maturity linked to 2.50% convertible senior notes due 2028
- Operates as single business segment with global, functional organizational structure
Management Discussion & Analysis
- Revenue concentration: top 3 customers accounted for 54% in 2025 vs 37% in 2024
- Largest customer revenue concentration increased, raising customer concentration risk
- No details on cash flow, capital allocation, or margin changes reported
- Management highlights risk from potential loss of large customers affecting future operations
Risk Factors
- U.S. tariffs and export controls risk with potential material impact on demand, costs, or sales from future trade policy changes or retaliatory measures
- Manufacturing consolidation risk from Zhongshan site closure in Q2 2025, finalizing in 2026, impacting operational footprint and costs
- Data Center Computing market revenue doubled in 2025, indicating exposure to sector-specific demand fluctuations
- Operating expenses up $16.7M in 2025 due to higher R&D and stock-based compensation costs affecting profitability
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