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Axcelis Technologies (ACLS) Financials

Axcelis Technologies logo
$140.15 -2.88 (-2.01%)
Closing price 08/14/2026 04:00 PM Eastern
Extended Trading
$139.86 -0.29 (-0.21%)
As of 08/14/2026 07:34 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Axcelis Technologies

Annual Income Statements for Axcelis Technologies

This table shows Axcelis Technologies' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 15 210 127 46 17 50 99 183 246 201 120
Consolidated Net Income / (Loss)		 15 11 127 46 17 50 99 183 246 201 120
Net Income / (Loss) Continuing Operations		 15 210 127 46 17 50 99 183 246 201 120
Total Pre-Tax Income 		15 11 44 55 21 56 120 205 279 230 138
Total Operating Income		 21 17 48 60 24 58 127 212 266 211 119
Total Gross Profit		 102 199 150 180 144 199 286 402 491 455 377
Total Revenue		 301 534 411 443 343 475 662 920 1,131 1,018 839
Operating Revenue		 301 534 411 443 343 475 662 920 1,131 1,018 839
Total Cost of Revenue		 200 335 260 263 199 276 376 518 639 563 462
Operating Cost of Revenue		 200 335 260 263 199 - 376 518 639 563 462
Total Operating Expenses		 81 -17 102 120 120 141 159 189 226 244 258
Selling, General & Admin Expense		 25 24 31 33 32 40 46 57 66 70 83
Marketing Expense		 23 24 29 35 34 39 48 54 63 68 65
Research & Development Expense		 33 34 43 52 54 62 65 78 97 105 109
Total Other Income / (Expense), net		 -5.51 -5.60 -4.01 -5.25 -3.28 -2.16 -6.90 -7.48 13 19 19
Interest Expense		 4.98 5.07 5.12 5.11 5.16 5.21 4.84 5.58 5.35 5.46 5.36
Interest & Investment Income		 0.06 0.24 0.71 2.33 2.96 0.74 0.21 4.55 18 24 21
Other Income / (Expense), net		 -0.60 -0.76 0.40 -2.47 -1.08 2.32 -2.27 -6.45 -0.05 0.54 2.81
Income Tax Expense		 0.53 0.02 -83 8.82 3.89 5.90 22 22 32 29 18
Basic Earnings per Share		 $0.51 $0.38 $4.11 $1.42 $0.52 $1.50 $2.94 $5.54 $7.52 $6.17 $3.81
Weighted Average Basic Shares Outstanding		 28.60M 29.20M 30.87M 32.29M 32.56M 33.26M 33.56M 33.04M 32.76M 32.55M 31.57M
Diluted Earnings per Share		 $0.49 $0.36 $3.80 $1.35 $0.50 $1.46 $2.88 $5.46 $7.43 $6.15 $3.80
Weighted Average Diluted Shares Outstanding		 30.23M 30.95M 33.44M 34.00M 33.83M 34.13M 34.27M 33.54M 33.17M 32.70M 31.67M
Weighted Average Basic & Diluted Shares Outstanding		 28.80M 29M 30.90M 32.74M 33.09M 33.73M 33.25M 32.71M 32.63M 32.15M 30.72M

Quarterly Income Statements for Axcelis Technologies

This table shows Axcelis Technologies' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 71 52 51 49 50 29 31 26 34 9.21 23
Consolidated Net Income / (Loss)		 71 52 51 49 50 29 31 26 34 9.21 23
Net Income / (Loss) Continuing Operations		 71 52 51 49 50 29 31 26 34 9.21 23
Total Pre-Tax Income 		87 59 57 55 59 33 35 30 40 11 25
Total Operating Income		 79 57 53 47 55 29 29 25 36 7.95 20
Total Gross Profit		 138 116 112 110 116 89 87 89 112 81 91
Total Revenue		 310 252 257 257 252 193 195 214 238 199 215
Operating Revenue		 310 252 257 257 252 193 195 214 238 199 215
Total Cost of Revenue		 172 136 144 147 136 104 107 125 126 118 124
Operating Cost of Revenue		 172 136 144 147 136 104 107 125 126 118 124
Total Operating Expenses		 59 60 60 63 62 60 58 64 76 73 71
Selling, General & Admin Expense		 17 16 17 20 17 17 16 23 26 27 22
Marketing Expense		 17 17 17 17 17 15 15 16 19 17 20
Research & Development Expense		 25 26 26 26 28 27 27 25 30 29 29
Total Other Income / (Expense), net		 8.36 2.46 4.46 8.45 4.11 3.93 6.03 5.13 3.85 2.68 5.07
Interest Expense		 1.32 1.35 1.34 1.33 1.44 1.37 1.36 1.31 1.34 1.29 1.26
Interest & Investment Income		 5.38 5.52 6.05 6.56 6.28 5.60 5.48 5.47 4.94 4.46 4.58
Other Income / (Expense), net		 4.30 -1.71 -0.26 3.23 -0.72 -0.31 1.91 0.97 0.25 -0.50 1.76
Income Tax Expense		 16 7.40 6.40 6.79 8.69 4.51 3.62 4.16 5.72 1.41 2.06
Basic Earnings per Share		 $2.17 $1.58 $1.56 $1.49 $1.54 $0.89 $0.99 $0.83 $1.10 $0.30 $0.76
Weighted Average Basic Shares Outstanding		 32.76M 32.64M 32.60M 32.55M 32.55M 32.26M 31.85M 31.29M 31.57M 30.72M 30.81M
Diluted Earnings per Share		 $2.15 $1.57 $1.55 $1.49 $1.54 $0.88 $0.98 $0.83 $1.11 $0.30 $0.75
Weighted Average Diluted Shares Outstanding		 33.17M 32.93M 32.77M 32.68M 32.70M 32.34M 31.88M 31.45M 31.67M 30.98M 31.13M
Weighted Average Basic & Diluted Shares Outstanding		 32.63M 32.53M 32.62M 32.51M 32.15M 32.13M 31.42M 31.00M 30.72M 30.73M 30.88M

Annual Cash Flow Statements for Axcelis Technologies

This table details how cash moves in and out of Axcelis Technologies' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 54 -8.17 63 44 -38 58 91 -109 -12 -43 25
Net Cash From Operating Activities		 18 -8.79 56 47 -14 70 150 216 157 141 118
Net Cash From Continuing Operating Activities		 18 -8.79 56 47 -14 70 150 216 157 141 118
Net Income / (Loss) Continuing Operations		 15 11 127 46 17 50 99 183 246 201 120
Consolidated Net Income / (Loss)		 15 11 127 46 17 50 99 183 246 201 120
Depreciation Expense		 4.87 4.26 5.00 5.77 7.88 9.94 11 12 13 16 18
Amortization Expense		 - - - - - - 0.00 0.00 -12 -12 -4.15
Non-Cash Adjustments To Reconcile Net Income		 7.30 6.09 14 9.99 12 14 16 24 27 38 27
Changes in Operating Assets and Liabilities, net		 -8.58 -30 -89 -15 -50 -4.23 25 -3.07 -117 -101 -42
Net Cash From Investing Activities		 -1.83 -2.24 -7.29 -4.72 -12 -7.27 -8.72 -257 -101 -109 30
Net Cash From Continuing Investing Activities		 -1.83 -2.24 -7.29 -4.72 -12 -7.27 -8.72 -257 -101 -109 30
Purchase of Property, Plant & Equipment		 -1.83 -2.51 -7.29 -4.72 -12 -7.43 -8.72 -11 -21 -12 -11
Purchase of Investments		 - - - - - 0.00 0.00 -247 -389 -539 -646
Sale and/or Maturity of Investments		 - - - - - - 0.00 0.00 309 443 687
Net Cash From Financing Activities		 38 2.35 15 1.19 -13 -2.39 -52 -65 -68 -71 -124
Net Cash From Continuing Financing Activities		 38 2.35 15 1.19 -13 -2.39 -52 -65 -68 -71 -124
Repurchase of Common Equity		 - - - 0.00 -18 -7.50 -50 -57 -52 -60 -121
Issuance of Common Equity		 0.44 0.28 0.74 0.87 0.86 1.01 1.18 1.66 2.06 2.39 2.46
Other Financing Activities, net		 3.53 2.23 14 0.32 3.47 4.11 -3.64 -9.65 -18 -13 -5.87
Effect of Exchange Rate Changes		 0.29 0.51 -0.84 0.59 0.60 -2.35 2.43 -2.21 -0.14 -3.79 1.28
Cash Interest Paid		 3.99 4.82 5.32 5.47 5.21 5.16 5.09 4.99 4.87 4.73 4.57

Quarterly Cash Flow Statements for Axcelis Technologies

This table details how cash moves in and out of Axcelis Technologies' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 25 -33 11 -25 4.35 60 -10 14 -39 5.38 4.17
Net Cash From Operating Activities		 66 42 40 46 13 40 40 45 -6.57 18 18
Net Cash From Continuing Operating Activities		 66 42 40 46 13 40 40 45 -6.57 18 18
Net Income / (Loss) Continuing Operations		 71 52 51 49 50 29 31 26 34 9.21 23
Consolidated Net Income / (Loss)		 71 52 51 49 50 29 31 26 34 9.21 23
Depreciation Expense		 3.58 3.78 3.86 3.91 4.27 4.31 4.52 4.33 4.46 4.44 4.44
Amortization Expense		 -3.61 -3.31 -3.32 -3.54 -2.27 -0.62 -1.64 -1.08 -0.82 0.04 -1.07
Non-Cash Adjustments To Reconcile Net Income		 1.68 12 12 -4.48 18 5.03 0.23 11 11 8.84 5.73
Changes in Operating Assets and Liabilities, net		 -7.13 -22 -23 1.29 -57 2.50 5.24 5.31 -55 -4.39 -14
Net Cash From Investing Activities		 -27 -56 -5.60 -57 9.12 40 -4.61 1.38 -7.31 -11 -6.10
Net Cash From Continuing Investing Activities		 -27 -56 -5.60 -57 9.12 40 -4.61 1.38 -7.31 -11 -6.10
Purchase of Property, Plant & Equipment		 -10 -1.62 -2.00 -3.90 -4.66 -4.96 -1.99 -2.02 -2.34 -1.84 -3.55
Purchase of Investments		 -117 -145 -104 -185 -105 -252 -93 -161 -139 -161 -63
Sale and/or Maturity of Investments		 101 91 100 132 119 298 90 165 134 152 60
Net Cash From Financing Activities		 -15 -18 -23 -16 -15 -20 -47 -33 -25 -1.40 -7.85
Net Cash From Continuing Financing Activities		 -15 -18 -23 -16 -15 -20 -47 -33 -25 -1.40 -7.85
Repurchase of Common Equity		 -15 -15 -15 -15 -15 -18 -45 -32 -25 0.00 -0.24
Issuance of Common Equity		 1.10 - - - 1.14 0.00 - - 1.21 0.00 1.30
Other Financing Activities, net		 -1.12 -3.06 -8.85 -0.63 -0.56 -1.93 -2.90 -0.44 -0.60 -1.40 -8.91
Effect of Exchange Rate Changes		 1.13 -1.81 -0.66 1.70 -3.01 0.29 1.64 -0.11 -0.55 -0.72 -0.25

Annual Balance Sheets for Axcelis Technologies

This table presents Axcelis Technologies' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 282 302 488 548 548 625 753 1,014 1,282 1,349 1,361
Total Current Assets		 230 241 340 397 376 471 619 878 1,080 1,124 943
Cash & Equivalents		 79 71 133 178 140 203 295 186 167 124 145
Short-Term Investments		 - - - - - - 0.00 247 339 448 229
Accounts Receivable		 37 51 75 79 84 87 104 170 218 203 168
Inventories, net		 109 114 121 129 140 161 195 242 306 282 329
Prepaid Expenses		 4.79 5.51 9.77 11 12 19 25 33 49 60 67
Current Deferred & Refundable Income Taxes		 - - - - - - - - 0.00 6.42 4.66
Plant, Property, & Equipment, net		 30 31 36 41 25 30 35 40 54 54 56
Total Noncurrent Assets		 22 31 112 111 147 124 99 96 148 171 362
Long-Term Investments		 - - - - - - - - - 0.00 182
Noncurrent Note & Lease Receivables		 - - - - 22 21 19 18 17 15 14
Noncurrent Deferred & Refundable Income Taxes		 - 1.06 83 72 68 58 35 32 53 68 80
Other Noncurrent Operating Assets		 15 23 22 32 50 45 44 46 71 80 75
Other Noncurrent Nonoperating Assets		 6.94 6.86 6.72 6.91 6.65 0.75 0.76 0.75 6.65 7.55 11
Total Liabilities & Shareholders' Equity		 282 302 488 548 548 625 753 1,014 1,282 1,349 1,361
Total Liabilities		 98 101 135 140 129 143 214 346 417 336 327
Total Current Liabilities		 44 48 79 85 69 84 150 248 285 208 198
Accounts Payable		 20 25 33 36 25 24 38 62 54 47 42
Accrued Expenses		 3.36 2.43 4.11 4.82 2.76 4.28 6.42 8.30 14 13 9.52
Current Deferred Revenue		 7.86 10 16 20 25 21 60 123 165 95 65
Current Deferred & Payable Income Tax Liabilities		 0.14 0.24 0.27 0.46 0.29 0.65 0.89 4.30 6.16 0.00 11
Current Employee Benefit Liabilities		 9.06 5.14 21 19 7.63 25 31 36 31 26 34
Other Current Liabilities		 4.09 4.59 5.12 5.03 8.04 9.70 14 14 14 27 35
Total Noncurrent Liabilities		 54 53 55 55 60 59 64 98 132 128 129
Capital Lease Obligations		 - - - - 48 47 - 45 44 42 41
Noncurrent Deferred Revenue		 0.68 0.67 1.96 3.07 4.65 1.84 7.98 31 46 44 43
Other Noncurrent Operating Liabilities		 53 52 53 52 7.20 9.36 56 22 42 43 45
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 184 201 354 408 419 482 539 667 865 1,013 1,035
Total Preferred & Common Equity		 184 201 354 408 419 482 539 667 865 1,013 1,035
Total Common Equity		 184 201 354 408 419 482 539 667 865 1,013 1,035
Common Stock		 529 535 556 565 560 570 560 550 547 549 533
Retained Earnings		 -343 -332 -205 -157 -140 -92 -23 119 320 470 504
Accumulated Other Comprehensive Income / (Loss)		 -1.43 -2.28 2.18 0.45 -0.26 3.44 1.77 -1.97 -1.85 -6.21 -2.20

Quarterly Balance Sheets for Axcelis Technologies

This table presents Axcelis Technologies' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 1,080 1,122 1,202 1,307 1,288 1,338 1,341 1,323 1,352 1,375 1,387
Total Current Assets		 934 950 1,015 1,105 1,078 1,122 1,114 1,064 984 936 980
Cash & Equivalents		 164 133 142 134 145 120 184 174 188 151 155
Short-Term Investments		 280 320 319 396 403 459 403 376 262 216 247
Accounts Receivable		 190 159 192 209 188 184 165 139 148 162 154
Inventories, net		 262 300 312 312 283 291 296 311 324 326 338
Prepaid Expenses		 38 38 49 55 55 57 59 60 58 77 80
Current Deferred & Refundable Income Taxes		 - - - - 4.11 11 6.62 5.51 4.69 4.61 4.86
Plant, Property, & Equipment, net		 41 43 47 53 52 54 57 57 58 58 58
Total Noncurrent Assets		 104 128 139 148 158 162 170 202 310 381 349
Long-Term Investments		 - - - - - - - 31 143 203 175
Noncurrent Note & Lease Receivables		 18 17 17 16 16 16 15 15 14 14 14
Noncurrent Deferred & Refundable Income Taxes		 35 39 44 55 55 59 69 72 70 81 79
Other Noncurrent Operating Assets		 45 65 72 71 80 80 78 76 75 73 71
Other Noncurrent Nonoperating Assets		 6.65 6.65 6.65 6.65 6.65 6.65 7.55 7.63 7.63 11 11
Total Liabilities & Shareholders' Equity		 1,080 1,122 1,202 1,307 1,288 1,338 1,341 1,323 1,352 1,375 1,387
Total Liabilities		 378 378 401 405 353 363 313 301 332 330 321
Total Current Liabilities		 268 248 261 277 244 252 200 177 199 204 200
Accounts Payable		 60 61 60 40 46 54 39 37 52 52 59
Accrued Expenses		 9.60 11 11 14 15 15 12 11 9.26 9.31 9.63
Current Deferred Revenue		 157 139 148 165 148 139 110 90 81 68 82
Current Deferred & Payable Income Tax Liabilities		 13 6.60 0.58 27 0.00 0.00 - - - 14 2.83
Current Employee Benefit Liabilities		 14 17 27 16 16 23 15 17 24 17 20
Other Current Liabilities		 14 14 14 14 19 22 24 23 31 44 27
Total Noncurrent Liabilities		 110 129 140 128 109 110 113 124 133 126 121
Capital Lease Obligations		 - 44 44 43 43 43 42 42 41 40 40
Noncurrent Deferred Revenue		 45 44 54 44 26 25 29 40 47 41 37
Other Noncurrent Operating Liabilities		 65 41 42 41 41 42 42 43 44 44 44
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 702 744 801 902 935 976 1,027 1,022 1,020 1,045 1,066
Total Preferred & Common Equity		 702 744 801 902 935 976 1,027 1,022 1,020 1,045 1,066
Total Common Equity		 702 744 801 902 935 976 1,027 1,022 1,020 1,045 1,066
Common Stock		 548 540 544 547 543 545 547 536 533 537 536
Retained Earnings		 156 207 262 358 397 432 486 487 489 513 536
Accumulated Other Comprehensive Income / (Loss)		 -1.92 -2.93 -4.16 -3.57 -4.48 -2.22 -5.49 -0.48 -1.61 -5.33 -6.41

Annual Metrics And Ratios for Axcelis Technologies

This table displays calculated financial ratios and metrics derived from Axcelis Technologies' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 48.48% 77.10% -23.11% 7.80% -22.51% 38.37% 39.59% 38.88% 22.89% -9.97% -17.57%
EBITDA Growth		 650.23% -19.49% 164.65% 18.82% -50.99% 126.75% 93.28% 60.09% 22.63% -19.51% -36.85%
EBIT Growth		 320.34% -21.17% 204.17% 19.17% -59.78% 161.05% 107.18% 64.66% 29.06% -20.48% -42.21%
NOPAT Growth		 368.00% -17.06% 735.39% -63.71% -60.81% 163.41% 100.93% 81.94% 23.81% -21.69% -43.60%
Net Income Growth		 230.29% -25.05% 1,054.07% -63.86% -62.88% 193.42% 97.37% 85.58% 34.51% -18.38% -40.18%
EPS Growth		 230.29% -26.53% 955.56% -64.47% -62.96% 192.00% 97.26% 89.58% 36.08% -17.23% -38.21%
Operating Cash Flow Growth		 213.85% -148.11% 740.46% -16.56% -128.95% 612.75% 115.47% 43.56% -27.24% -10.23% -15.99%
Free Cash Flow Firm Growth		 593.05% -112.64% 635.41% -20.26% -296.78% 161.86% 285.54% -17.37% -22.67% -12.80% -30.60%
Invested Capital Growth		 -35.27% 26.41% 71.83% 5.03% 43.68% 1.16% -25.09% 14.90% 41.58% 20.33% 6.71%
Revenue Q/Q Growth		 2.70% 99.18% -42.77% 20.79% -17.40% 23.01% 14.42% 7.02% 4.07% -5.38% -1.65%
EBITDA Q/Q Growth		 7.72% 16.85% 12.44% -0.14% 12.13% 3.85% 29.54% 9.02% 6.40% -11.36% -10.41%
EBIT Q/Q Growth		 9.09% 24.27% 13.42% -0.69% 12.78% 3.98% 32.61% 9.48% 7.73% -12.26% -12.47%
NOPAT Q/Q Growth		 11.14% 26.54% 211.46% -64.08% 2.65% 9.06% 27.08% 6.56% 7.08% -8.80% -12.99%
Net Income Q/Q Growth		 4.72% 39.93% 223.51% -64.46% 7.91% 11.02% 27.17% 13.13% 6.06% -9.50% -11.52%
EPS Q/Q Growth		 4.72% 33.33% -61.38% -26.63% 6.38% 10.61% 27.43% 13.99% 6.29% -9.02% -10.17%
Operating Cash Flow Q/Q Growth		 80.31% -22.58% 26.35% 41.54% -146.24% 11.67% 41.53% 64.17% -26.59% -27.27% -14.06%
Free Cash Flow Firm Q/Q Growth		 24.37% -123.60% 37.08% 22.85% -619.15% 2,223.28% 103.93% 4.39% -25.60% -29.54% -20.67%
Invested Capital Q/Q Growth		 -9.47% -1.31% 59.09% -7.47% 30.68% 9.89% -15.09% -11.97% 4.87% 10.18% 10.25%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 33.73% 37.31% 36.60% 40.59% 42.03% 41.85% 43.24% 43.67% 43.45% 44.67% 44.91%
EBITDA Margin		 8.29% 3.77% 12.97% 14.29% 9.04% 14.81% 20.51% 23.64% 23.59% 21.09% 16.16%
Operating Margin		 6.87% 3.11% 11.65% 13.55% 7.06% 12.23% 19.22% 23.08% 23.51% 20.71% 14.22%
EBIT Margin		 6.67% 2.97% 11.75% 12.99% 6.74% 12.72% 18.88% 22.38% 23.50% 20.76% 14.56%
Profit (Net Income) Margin		 4.87% 2.06% 30.92% 10.37% 4.97% 10.53% 14.89% 19.90% 21.78% 19.75% 14.33%
Tax Burden Percent		 96.53% 99.79% 289.66% 83.88% 81.42% 89.44% 81.92% 89.36% 88.39% 87.28% 86.97%
Interest Burden Percent		 75.58% 69.51% 90.86% 95.16% 90.49% 92.59% 96.30% 99.50% 104.84% 108.96% 113.20%
Effective Tax Rate		 3.47% 0.21% -189.66% 16.12% 18.58% 10.56% 18.08% 10.64% 11.61% 12.72% 13.03%
Return on Invested Capital (ROIC)		 16.05% 14.96% 82.36% 23.06% 7.24% 16.08% 36.72% 72.59% 69.58% 42.20% 21.08%
ROIC Less NNEP Spread (ROIC-NNEP)		 26.40% 21.80% 92.99% 25.77% 9.13% 17.59% 39.22% 74.55% 66.94% 38.82% 17.99%
Return on Net Nonoperating Assets (RNNOA)		 -7.71% -9.25% -36.61% -11.02% -3.12% -4.98% -17.39% -42.24% -37.44% -20.79% -9.34%
Return on Equity (ROE)		 8.34% 5.71% 45.75% 12.04% 4.12% 11.09% 19.33% 30.36% 32.15% 21.41% 11.75%
Cash Return on Invested Capital (CROIC)		 58.87% -8.36% 29.51% 18.15% -28.61% 14.92% 65.41% 58.73% 35.16% 23.74% 14.60%
Operating Return on Assets (OROA)		 7.90% 5.43% 12.21% 11.09% 4.22% 10.29% 18.15% 23.31% 23.15% 16.07% 9.01%
Return on Assets (ROA)		 5.76% 3.77% 32.12% 8.85% 3.11% 8.52% 14.32% 20.72% 21.46% 15.28% 8.87%
Return on Common Equity (ROCE)		 8.34% 5.71% 45.75% 12.04% 4.12% 11.09% 19.33% 30.36% 32.15% 21.41% 11.75%
Return on Equity Simple (ROE_SIMPLE)		 7.99% 5.46% 35.90% 11.24% 4.06% 10.38% 18.30% 27.44% 28.47% 19.85% 0.00%
Net Operating Profit after Tax (NOPAT)		 20 17 139 50 20 52 104 190 235 184 104
NOPAT Margin		 6.63% 3.11% 33.75% 11.36% 5.75% 10.94% 15.75% 20.63% 20.78% 18.08% 12.37%
Net Nonoperating Expense Percent (NNEP)		 -10.35% -6.84% -10.63% -2.71% -1.89% -1.51% -2.50% -1.96% 2.64% 3.38% 3.10%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 26.64% 25.86% 17.44% 9.65%
Cost of Revenue to Revenue		 66.27% 62.69% 63.40% 59.41% 57.97% 58.15% 56.76% 56.33% 56.55% 55.33% 55.09%
SG&A Expenses to Revenue		 8.31% 4.58% 7.50% 7.50% 9.25% 8.42% 6.97% 6.25% 5.82% 6.91% 9.92%
R&D to Revenue		 10.81% 6.44% 10.49% 11.72% 15.73% 13.03% 9.88% 8.52% 8.57% 10.36% 12.99%
Operating Expenses to Revenue		 26.86% -3.11% 24.94% 27.04% 34.97% 29.62% 24.02% 20.59% 19.95% 23.96% 30.69%
Earnings before Interest and Taxes (EBIT)		 20 16 48 57 23 60 125 206 266 211 122
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 25 20 53 63 31 70 136 218 267 215 136
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.63 2.12 2.55 1.41 1.86 2.03 4.61 3.91 4.91 2.24 2.41
Price to Tangible Book Value (P/TBV)		 1.63 2.12 2.55 1.41 1.86 2.03 4.61 3.91 4.91 2.24 2.41
Price to Revenue (P/Rev)		 0.99 0.80 2.20 1.30 2.28 2.06 3.75 2.83 3.76 2.23 2.97
Price to Earnings (P/E)		 20.42 2.03 7.10 12.57 45.86 19.52 25.18 14.24 17.25 11.30 20.71
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 4.90% 49.19% 14.08% 7.95% 2.18% 5.12% 3.97% 7.02% 5.80% 8.85% 4.83%
Enterprise Value to Invested Capital (EV/IC)		 2.25 2.88 3.61 1.79 2.15 2.52 9.00 7.94 9.56 3.66 3.89
Enterprise Value to Revenue (EV/Rev)		 0.73 0.67 1.87 0.90 2.01 1.73 3.30 2.41 3.35 1.71 2.35
Enterprise Value to EBITDA (EV/EBITDA)		 8.84 17.72 14.41 6.31 22.24 11.65 16.11 10.21 14.19 8.11 14.56
Enterprise Value to EBIT (EV/EBIT)		 10.98 22.48 15.91 6.94 29.82 13.57 17.50 10.78 14.24 8.24 16.17
Enterprise Value to NOPAT (EV/NOPAT)		 11.04 21.49 5.54 7.93 34.99 15.78 20.99 11.70 16.11 9.47 19.03
Enterprise Value to Operating Cash Flow (EV/OCF)		 12.09 0.00 13.63 8.49 0.00 11.75 14.57 10.30 24.13 12.37 16.69
Enterprise Value to Free Cash Flow (EV/FCFF)		 3.01 0.00 15.46 10.08 0.00 17.00 11.78 14.46 31.88 16.83 27.49
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.11 0.10 0.00 0.07 0.05 0.04 0.04
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.11 0.10 0.00 0.07 0.05 0.04 0.04
Financial Leverage		 -0.29 -0.42 -0.39 -0.43 -0.34 -0.28 -0.44 -0.57 -0.56 -0.54 -0.52
Leverage Ratio		 1.45 1.52 1.42 1.36 1.32 1.30 1.35 1.46 1.50 1.40 1.32
Compound Leverage Factor		 1.09 1.05 1.29 1.29 1.20 1.21 1.30 1.46 1.57 1.53 1.50
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 10.30% 8.96% 0.00% 6.34% 4.81% 4.01% 3.79%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 10.30% 8.96% 0.00% 6.34% 4.81% 4.01% 3.79%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 100.00% 100.00% 100.00% 89.70% 91.04% 100.00% 93.66% 95.19% 95.99% 96.21%
Debt to EBITDA		 0.00 0.00 0.00 0.00 1.55 0.67 0.00 0.21 0.16 0.20 0.30
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 -2.96 -2.22 0.00 -1.78 -1.73 -2.46 -3.80
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 1.55 0.67 0.00 0.21 0.16 0.20 0.30
Debt to NOPAT		 0.00 0.00 0.00 0.00 2.44 0.91 0.00 0.24 0.19 0.23 0.39
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 -4.65 -3.01 0.00 -2.04 -1.97 -2.88 -4.97
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 2.44 0.91 0.00 0.24 0.19 0.23 0.39
Altman Z-Score		 2.23 3.71 5.24 3.90 4.72 5.71 9.09 7.00 8.77 6.63 6.66
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 5.18 5.04 4.29 4.67 5.47 5.58 4.12 3.54 3.79 5.41 4.77
Quick Ratio		 2.61 2.54 2.63 3.02 3.26 3.44 2.66 2.43 2.54 3.73 2.75
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 73 -9.27 50 40 -78 48 186 154 119 104 72
Operating Cash Flow to CapEx		 998.20% -393.02% 772.60% 996.08% -113.58% 959.30% 1,722.76% 2,018.23% 759.44% 1,156.05% 1,047.41%
Free Cash Flow to Firm to Interest Expense		 14.74 -1.83 9.69 7.75 -15.11 9.25 38.42 27.53 22.20 18.95 13.39
Operating Cash Flow to Interest Expense		 3.67 -1.73 10.99 9.19 -2.64 13.38 31.06 38.67 29.34 25.78 22.06
Operating Cash Flow Less CapEx to Interest Expense		 3.30 -2.17 9.57 8.27 -4.96 11.98 29.26 36.75 25.47 23.55 19.95
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.18 1.83 1.04 0.85 0.63 0.81 0.96 1.04 0.99 0.77 0.62
Accounts Receivable Turnover		 7.57 12.21 6.52 5.75 4.22 5.56 6.93 6.71 5.83 4.83 4.52
Inventory Turnover		 1.87 3.00 2.22 2.11 1.48 1.83 2.11 2.37 2.33 1.91 1.51
Fixed Asset Turnover		 9.97 17.54 12.25 11.45 10.32 17.20 20.44 24.65 24.15 18.89 15.27
Accounts Payable Turnover		 9.64 14.93 9.03 7.67 6.49 11.18 12.12 10.33 10.95 11.12 10.36
Days Sales Outstanding (DSO)		 48.22 29.89 55.95 63.52 86.46 65.61 52.70 54.39 62.59 75.50 80.83
Days Inventory Outstanding (DIO)		 195.00 121.71 164.33 173.20 247.27 199.34 172.83 154.04 156.69 190.76 241.35
Days Payable Outstanding (DPO)		 37.87 24.45 40.41 47.61 56.27 32.64 30.11 35.35 33.33 32.83 35.24
Cash Conversion Cycle (CCC)		 205.35 127.15 179.87 189.11 277.46 232.32 195.41 173.08 185.95 233.43 286.94
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 98 124 213 223 321 325 243 280 396 476 508
Invested Capital Turnover		 2.42 4.82 2.44 2.03 1.26 1.47 2.33 3.52 3.35 2.33 1.70
Increase / (Decrease) in Invested Capital		 -53 26 89 11 98 3.72 -81 36 116 80 32
Enterprise Value (EV)		 221 357 767 399 689 819 2,189 2,220 3,785 1,742 1,975
Market Capitalization		 300 427 902 577 781 975 2,484 2,607 4,247 2,271 2,490
Book Value per Share		 $1.59 $6.86 $11.26 $12.60 $12.94 $14.38 $16.18 $20.31 $26.41 $31.16 $33.38
Tangible Book Value per Share		 $1.59 $6.86 $11.26 $12.60 $12.94 $14.38 $16.18 $20.31 $26.41 $31.16 $33.38
Total Capital		 184 201 354 408 468 529 539 712 909 1,055 1,075
Total Debt		 0.00 0.00 0.00 0.00 48 47 0.00 45 44 42 41
Total Long-Term Debt		 0.00 0.00 0.00 0.00 48 47 0.00 45 44 42 41
Net Debt		 -79 -71 -134 -178 -92 -156 -295 -387 -462 -529 -516
Capital Expenditures (CapEx)		 1.83 2.24 7.29 4.72 12 7.27 8.72 11 21 12 11
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 107 122 126 134 167 183 174 197 289 345 371
Debt-free Net Working Capital (DFNWC)		 186 193 260 312 307 386 469 630 795 916 746
Net Working Capital (NWC)		 186 193 260 312 307 386 469 630 795 916 746
Net Nonoperating Expense (NNE)		 5.32 5.59 12 4.41 2.67 1.93 5.65 6.68 -11 -17 -16
Net Nonoperating Obligations (NNO)		 -86 -78 -141 -185 -98 -157 -296 -388 -469 -537 -527
Total Depreciation and Amortization (D&A)		 4.87 4.26 5.00 5.77 7.88 9.94 11 12 0.99 3.37 13
Debt-free, Cash-free Net Working Capital to Revenue		 35.39% 22.89% 30.77% 30.23% 48.73% 38.54% 26.29% 21.45% 25.54% 33.87% 44.25%
Debt-free Net Working Capital to Revenue		 61.56% 36.14% 63.45% 70.45% 89.52% 81.41% 70.82% 68.43% 70.30% 90.00% 88.86%
Net Working Capital to Revenue		 61.56% 36.14% 63.45% 70.45% 89.52% 81.41% 70.82% 68.43% 70.30% 90.00% 88.86%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $2.08 $0.38 $4.11 $1.42 $0.52 $1.50 $2.94 $5.54 $0.00 $6.17 $3.81
Adjusted Weighted Average Basic Shares Outstanding		 7.15M 29.20M 30.87M 32.29M 32.56M 33.26M 33.56M 33.04M 0.00 32.55M 31.57M
Adjusted Diluted Earnings per Share		 $1.92 $0.36 $3.80 $1.35 $0.50 $1.46 $2.88 $5.46 $0.00 $6.15 $3.80
Adjusted Weighted Average Diluted Shares Outstanding		 7.56M 30.95M 33.44M 34.00M 33.83M 34.13M 34.27M 33.54M 0.00 32.70M 31.67M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 7.26M 29.92M 32.13M 32.74M 33.09M 33.73M 33.25M 32.71M 0.00 32.15M 30.72M
Normalized Net Operating Profit after Tax (NOPAT)		 20 17 33 50 20 52 104 190 235 184 104
Normalized NOPAT Margin		 6.64% 3.16% 8.16% 11.36% 5.75% 10.94% 15.75% 20.63% 20.78% 18.08% 12.37%
Pre Tax Income Margin		 5.04% 2.06% 10.68% 12.36% 6.10% 11.78% 18.18% 22.27% 24.64% 22.62% 16.48%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 4.04 3.13 9.42 11.25 4.49 11.58 25.86 36.93 49.70 38.69 22.77
NOPAT to Interest Expense		 4.02 3.27 27.06 9.84 3.82 9.96 21.57 34.03 43.94 33.69 19.35
EBIT Less CapEx to Interest Expense		 3.68 2.69 8.00 10.33 2.16 10.19 24.06 35.01 45.84 36.46 20.66
NOPAT Less CapEx to Interest Expense		 3.65 2.83 25.64 8.92 1.50 8.57 19.77 32.12 40.08 31.46 17.24
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 104.17% 15.01% 50.68% 31.40% 21.32% 30.10% 100.70%

Quarterly Metrics And Ratios for Axcelis Technologies

This table displays calculated financial ratios and metrics derived from Axcelis Technologies' official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - - - - - 30,718,815.00 30,733,897.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 30,718,815.00 30,733,897.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - 0.30 0.76
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 16.63% -0.65% -6.37% -12.23% -18.65% -23.70% -24.16% -16.74% -5.58% 3.32% 10.60%
EBITDA Growth		 23.85% 9.33% -14.23% -28.81% -33.01% -41.15% -36.44% -42.11% -28.22% -63.34% -24.73%
EBIT Growth		 29.67% 8.96% -14.77% -28.80% -35.44% -47.38% -41.26% -48.16% -32.32% -74.16% -28.62%
NOPAT Growth		 32.27% 6.78% -22.74% -35.83% -27.72% -49.06% -44.64% -47.61% -33.26% -72.63% -28.24%
Net Income Growth		 24.68% 8.17% -17.40% -26.32% -29.70% -44.61% -38.32% -46.50% -31.34% -67.76% -25.77%
EPS Growth		 25.73% 9.79% -16.67% -25.13% -28.37% -43.95% -36.77% -44.30% -27.92% -65.91% -23.47%
Operating Cash Flow Growth		 -46.42% 22.18% 22.47% 90.46% -80.51% -5.75% -0.85% -0.87% -151.39% -54.42% -53.75%
Free Cash Flow Firm Growth		 -521.08% -204.81% -161.52% -418.82% 34.54% 61.99% 43.95% 47.74% 97.26% 44.35% 9.14%
Invested Capital Growth		 41.58% 62.99% 28.58% 14.53% 20.33% 16.25% 12.38% 6.64% 6.71% 6.28% 8.97%
Revenue Q/Q Growth		 6.14% -18.67% 1.64% 0.02% -1.62% -23.71% 1.03% 9.80% 11.57% -16.52% 8.15%
EBITDA Q/Q Growth		 17.45% -33.63% -3.98% -4.89% 10.52% -41.70% 3.72% -13.37% 37.02% -70.22% 112.95%
EBIT Q/Q Growth		 18.36% -34.22% -4.15% -4.60% 7.33% -46.39% 7.01% -15.81% 40.12% -79.53% 195.59%
NOPAT Q/Q Growth		 0.18% -23.06% -5.13% -12.25% 12.85% -45.77% 3.10% -16.96% 43.75% -77.76% 170.30%
Net Income Q/Q Growth		 7.77% -27.39% -1.41% -4.50% 2.84% -42.79% 9.79% -17.18% 31.98% -73.13% 152.78%
EPS Q/Q Growth		 8.04% -26.98% -1.27% -3.87% 3.36% -42.86% 11.36% -15.31% 33.73% -72.97% 150.00%
Operating Cash Flow Q/Q Growth		 173.00% -35.61% -5.11% 14.18% -72.06% 211.39% -0.17% 14.15% -114.48% 376.21% 1.29%
Free Cash Flow Firm Q/Q Growth		 -1,312.59% -108.43% 56.51% 70.99% -148.97% -21.02% 35.86% 72.96% 86.96% -2,360.47% -4.72%
Invested Capital Q/Q Growth		 4.87% 3.15% 3.62% 2.18% 10.18% -0.34% 0.16% -3.04% 10.25% -0.74% 2.70%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 44.44% 45.98% 43.82% 42.86% 46.04% 46.10% 44.90% 41.57% 46.96% 40.50% 42.38%
EBITDA Margin		 26.85% 21.91% 20.70% 19.68% 22.11% 16.90% 17.35% 13.69% 16.81% 6.00% 11.81%
Operating Margin		 25.48% 22.40% 20.59% 18.29% 21.60% 15.14% 14.89% 11.71% 15.18% 4.00% 9.43%
EBIT Margin		 26.86% 21.73% 20.49% 19.54% 21.32% 14.98% 15.87% 12.17% 15.28% 3.75% 10.24%
Profit (Net Income) Margin		 22.90% 20.44% 19.83% 18.93% 19.79% 14.84% 16.13% 12.17% 14.39% 4.63% 10.82%
Tax Burden Percent		 81.29% 87.45% 88.83% 87.74% 85.18% 86.38% 89.65% 86.19% 85.70% 86.72% 91.89%
Interest Burden Percent		 104.87% 107.61% 108.97% 110.43% 108.98% 114.68% 113.37% 116.01% 109.89% 142.52% 115.03%
Effective Tax Rate		 18.71% 12.55% 11.17% 12.26% 14.82% 13.62% 10.35% 13.81% 14.30% 13.28% 8.12%
Return on Invested Capital (ROIC)		 69.35% 67.16% 54.06% 42.63% 42.96% 28.39% 26.63% 19.29% 22.17% 5.99% 15.10%
ROIC Less NNEP Spread (ROIC-NNEP)		 67.77% 66.70% 53.21% 41.10% 42.27% 27.74% 25.61% 18.48% 21.55% 5.56% 14.25%
Return on Net Nonoperating Assets (RNNOA)		 -37.90% -39.30% -29.38% -22.37% -22.64% -15.05% -13.85% -10.21% -11.19% -2.93% -7.47%
Return on Equity (ROE)		 31.45% 27.85% 24.68% 20.26% 20.32% 13.34% 12.77% 9.07% 10.98% 3.05% 7.63%
Cash Return on Invested Capital (CROIC)		 35.16% 24.40% 34.72% 36.30% 23.74% 21.15% 19.26% 20.28% 14.60% 11.37% 7.16%
Operating Return on Assets (OROA)		 26.46% 20.56% 18.90% 16.55% 16.50% 10.84% 10.89% 7.72% 9.46% 2.33% 6.54%
Return on Assets (ROA)		 22.56% 19.34% 18.29% 16.04% 15.31% 10.74% 11.07% 7.72% 8.91% 2.88% 6.92%
Return on Common Equity (ROCE)		 31.45% 27.85% 24.68% 20.26% 20.32% 13.34% 12.77% 9.07% 10.98% 3.05% 7.63%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 27.74% 25.61% 22.76% 0.00% 17.33% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 64 49 47 41 46 25 26 22 31 6.89 19
NOPAT Margin		 20.71% 19.59% 18.29% 16.04% 18.40% 13.08% 13.35% 10.10% 13.01% 3.47% 8.66%
Net Nonoperating Expense Percent (NNEP)		 1.59% 0.46% 0.85% 1.53% 0.70% 0.65% 1.02% 0.80% 0.62% 0.42% 0.85%
Return On Investment Capital (ROIC_SIMPLE)		 7.07% - - - 4.40% 2.36% 2.44% 2.03% 2.88% 0.64% 1.69%
Cost of Revenue to Revenue		 55.56% 54.02% 56.18% 57.14% 53.96% 53.90% 55.10% 58.43% 53.04% 59.50% 57.62%
SG&A Expenses to Revenue		 5.57% 6.50% 6.46% 7.74% 6.92% 9.01% 8.38% 10.91% 11.01% 13.45% 10.40%
R&D to Revenue		 8.03% 10.17% 10.05% 10.29% 10.96% 14.09% 13.91% 11.54% 12.64% 14.33% 13.47%
Operating Expenses to Revenue		 18.96% 23.58% 23.23% 24.58% 24.44% 30.96% 30.01% 29.86% 31.79% 36.51% 32.95%
Earnings before Interest and Taxes (EBIT)		 83 55 53 50 54 29 31 26 36 7.46 22
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 83 55 53 51 56 33 34 29 40 12 25
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 4.91 0.00 4.95 3.51 2.24 1.55 2.19 3.01 2.41 2.74 5.46
Price to Tangible Book Value (P/TBV)		 4.91 0.00 4.95 3.51 2.24 1.55 2.19 3.01 2.41 2.74 5.46
Price to Revenue (P/Rev)		 3.76 0.00 4.16 3.18 2.23 1.67 2.50 3.60 2.97 3.38 6.72
Price to Earnings (P/E)		 17.25 0.00 19.32 15.40 11.30 8.97 14.13 22.57 20.71 28.35 62.75
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 5.80% 0.00% 5.18% 6.49% 8.85% 11.14% 7.08% 4.43% 4.83% 3.53% 1.59%
Enterprise Value to Invested Capital (EV/IC)		 9.56 0.00 9.74 6.67 3.66 2.22 3.58 5.46 3.89 4.62 10.20
Enterprise Value to Revenue (EV/Rev)		 3.35 0.00 3.71 2.68 1.71 1.10 1.90 2.95 2.35 2.76 6.10
Enterprise Value to EBITDA (EV/EBITDA)		 14.19 0.00 15.69 11.90 8.11 5.48 9.85 16.63 14.56 20.26 49.57
Enterprise Value to EBIT (EV/EBIT)		 14.24 0.00 15.78 11.97 8.24 5.68 10.38 18.03 16.17 23.13 57.51
Enterprise Value to NOPAT (EV/NOPAT)		 16.11 0.00 18.35 14.29 9.47 6.59 12.24 21.10 19.03 27.26 67.61
Enterprise Value to Operating Cash Flow (EV/OCF)		 24.13 0.00 23.97 14.89 12.37 7.60 12.31 18.28 16.69 24.10 70.20
Enterprise Value to Free Cash Flow (EV/FCFF)		 31.88 0.00 31.57 19.62 16.83 11.27 19.65 27.78 27.49 41.85 148.68
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.05 0.05 0.05 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04
Long-Term Debt to Equity		 0.05 0.05 0.05 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04
Financial Leverage		 -0.56 -0.59 -0.55 -0.54 -0.54 -0.54 -0.54 -0.55 -0.52 -0.53 -0.52
Leverage Ratio		 1.50 1.49 1.44 1.43 1.40 1.37 1.33 1.35 1.32 1.31 1.30
Compound Leverage Factor		 1.57 1.60 1.56 1.58 1.53 1.57 1.51 1.56 1.45 1.87 1.49
Debt to Total Capital		 4.81% 4.58% 4.40% 4.19% 4.01% 3.92% 3.91% 3.88% 3.79% 3.72% 3.60%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 4.81% 4.58% 4.40% 4.19% 4.01% 3.92% 3.91% 3.88% 3.79% 3.72% 3.60%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 95.19% 95.42% 95.60% 95.81% 95.99% 96.08% 96.09% 96.12% 96.21% 96.28% 96.40%
Debt to EBITDA		 0.16 0.16 0.16 0.18 0.20 0.22 0.24 0.27 0.30 0.35 0.37
Net Debt to EBITDA		 -1.73 -1.79 -1.92 -2.22 -2.46 -2.84 -3.13 -3.64 -3.80 -4.61 -5.04
Long-Term Debt to EBITDA		 0.16 0.16 0.16 0.18 0.20 0.22 0.24 0.27 0.30 0.35 0.37
Debt to NOPAT		 0.19 0.18 0.19 0.21 0.23 0.26 0.30 0.35 0.39 0.47 0.51
Net Debt to NOPAT		 -1.97 -2.04 -2.25 -2.66 -2.88 -3.41 -3.88 -4.63 -4.97 -6.20 -6.87
Long-Term Debt to NOPAT		 0.19 0.18 0.19 0.21 0.23 0.26 0.30 0.35 0.39 0.47 0.51
Altman Z-Score		 8.30 0.00 10.06 7.82 6.25 5.17 6.54 7.45 6.45 6.99 12.78
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 3.79 4.00 4.42 4.45 5.41 5.56 6.01 4.95 4.77 4.59 4.90
Quick Ratio		 2.54 2.67 3.02 3.02 3.73 3.75 3.89 3.00 2.75 2.59 2.78
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -52 -108 -47 -14 -34 -41 -26 -7.14 -0.93 -23 -24
Operating Cash Flow to CapEx		 645.87% 2,606.36% 1,999.35% 1,173.33% 274.37% 802.32% 2,001.36% 2,250.62% -281.24% 986.35% 516.97%
Free Cash Flow to Firm to Interest Expense		 -39.37 -80.47 -35.18 -10.25 -23.56 -30.12 -19.49 -5.47 -0.70 -17.73 -18.99
Operating Cash Flow to Interest Expense		 49.68 31.37 29.92 34.32 8.85 29.11 29.32 34.75 -4.91 14.04 14.55
Operating Cash Flow Less CapEx to Interest Expense		 41.99 30.17 28.43 31.39 5.62 25.48 27.85 33.21 -6.66 12.62 11.73
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.99 0.95 0.92 0.85 0.77 0.72 0.69 0.63 0.62 0.62 0.64
Accounts Receivable Turnover		 5.83 5.67 6.40 5.72 4.83 5.13 5.48 5.15 4.52 5.17 5.91
Inventory Turnover		 2.33 2.18 2.11 1.99 1.91 1.75 1.66 1.53 1.51 1.53 1.52
Fixed Asset Turnover		 24.15 24.02 23.26 21.17 18.89 17.41 16.32 15.18 15.27 14.73 15.01
Accounts Payable Turnover		 10.95 12.47 11.58 10.51 11.12 13.46 11.91 8.86 10.36 10.53 10.29
Days Sales Outstanding (DSO)		 62.59 64.36 57.02 63.77 75.50 71.15 66.58 70.84 80.83 70.54 61.74
Days Inventory Outstanding (DIO)		 156.69 167.51 172.85 183.65 190.76 209.10 219.49 237.91 241.35 238.05 239.95
Days Payable Outstanding (DPO)		 33.33 29.27 31.52 34.74 32.83 27.11 30.64 41.18 35.24 34.66 35.47
Cash Conversion Cycle (CCC)		 185.95 202.60 198.36 212.67 233.43 253.13 255.43 267.57 286.94 273.93 266.22
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 396 408 423 432 476 475 475 461 508 504 518
Invested Capital Turnover		 3.35 3.43 2.96 2.66 2.33 2.17 2.00 1.91 1.70 1.73 1.74
Increase / (Decrease) in Invested Capital		 116 158 94 55 80 66 52 29 32 30 43
Enterprise Value (EV)		 3,785 0.00 4,120 2,883 1,742 1,052 1,700 2,516 1,975 2,330 5,285
Market Capitalization		 4,247 0.00 4,626 3,420 2,271 1,597 2,239 3,068 2,490 2,859 5,823
Book Value per Share		 $26.41 $27.63 $28.74 $29.91 $31.16 $31.95 $31.82 $32.47 $33.38 $34.01 $34.68
Tangible Book Value per Share		 $26.41 $27.63 $28.74 $29.91 $31.16 $31.95 $31.82 $32.47 $33.38 $34.01 $34.68
Total Capital		 909 945 978 1,018 1,055 1,069 1,064 1,061 1,075 1,085 1,106
Total Debt		 44 43 43 43 42 42 42 41 41 40 40
Total Long-Term Debt		 44 43 43 43 42 42 42 41 41 40 40
Net Debt		 -462 -487 -505 -537 -529 -545 -539 -552 -516 -530 -537
Capital Expenditures (CapEx)		 10 1.62 2.00 3.90 4.66 4.96 1.99 2.02 2.34 1.84 3.55
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 289 299 286 290 345 327 338 335 371 365 377
Debt-free Net Working Capital (DFNWC)		 795 829 834 870 916 914 887 785 746 732 780
Net Working Capital (NWC)		 795 829 834 870 916 914 887 785 746 732 780
Net Nonoperating Expense (NNE)		 -6.79 -2.15 -3.96 -7.42 -3.50 -3.39 -5.41 -4.42 -3.30 -2.32 -4.66
Net Nonoperating Obligations (NNO)		 -469 -494 -512 -543 -537 -553 -547 -559 -527 -540 -548
Total Depreciation and Amortization (D&A)		 -0.03 0.47 0.54 0.36 2.00 3.69 2.88 3.25 3.64 4.48 3.37
Debt-free, Cash-free Net Working Capital to Revenue		 25.54% 26.46% 25.72% 27.00% 33.87% 34.08% 37.67% 39.32% 44.25% 43.19% 43.58%
Debt-free Net Working Capital to Revenue		 70.30% 73.42% 75.05% 80.86% 90.00% 95.36% 99.03% 92.02% 88.86% 86.55% 90.02%
Net Working Capital to Revenue		 70.30% 73.42% 75.05% 80.86% 90.00% 95.36% 99.03% 92.02% 88.86% 86.55% 90.02%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $2.17 $1.58 $1.56 $1.49 $1.54 $0.89 $0.99 $0.83 $1.10 $0.30 $0.76
Adjusted Weighted Average Basic Shares Outstanding		 32.76M 32.64M 32.60M 32.55M 32.55M 32.26M 31.85M 31.29M 31.57M 30.72M 30.81M
Adjusted Diluted Earnings per Share		 $2.15 $1.57 $1.55 $1.49 $1.54 $0.88 $0.98 $0.83 $1.11 $0.30 $0.75
Adjusted Weighted Average Diluted Shares Outstanding		 33.17M 32.93M 32.77M 32.68M 32.70M 32.34M 31.88M 31.45M 31.67M 30.98M 31.13M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 32.63M 32.53M 32.62M 32.51M 32.15M 32.13M 31.42M 31.00M 30.72M 30.73M 30.88M
Normalized Net Operating Profit after Tax (NOPAT)		 64 49 47 41 46 25 26 22 31 6.89 19
Normalized NOPAT Margin		 20.71% 19.59% 18.29% 16.04% 18.40% 13.08% 13.35% 10.10% 13.01% 3.47% 8.66%
Pre Tax Income Margin		 28.17% 23.38% 22.32% 21.58% 23.23% 17.18% 17.99% 14.11% 16.79% 5.34% 11.78%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 63.14 40.73 39.25 37.61 37.27 21.10 22.78 19.92 27.24 5.77 17.45
NOPAT to Interest Expense		 48.68 36.73 35.03 30.88 32.17 18.43 19.16 16.52 23.19 5.34 14.75
EBIT Less CapEx to Interest Expense		 55.45 39.53 37.75 34.69 34.04 17.48 21.32 18.37 25.49 4.35 14.63
NOPAT Less CapEx to Interest Expense		 40.99 35.53 33.54 27.95 28.94 14.80 17.70 14.98 21.44 3.91 11.94
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 21.32% 21.99% 24.01% 27.18% 30.10% 35.77% 59.32% 81.67% 100.70% 102.01% 62.30%

Financials Breakdown Chart

Key Financial Trends

Axcelis Technologies had a much softer start to 2026 than it delivered during most of 2024 and 2025. In Q1 2026, revenue fell to $198.96 million, down from $238.33 million in Q4 2025 and well below the company’s stronger quarters in 2024. Profitability also compressed, with net income dropping to $9.2 million and EPS at $0.30, compared with $34.3 million of net income and $1.10 EPS in the prior quarter. The quarter still remained profitable and cash-generative, but the trend clearly points to a weaker business environment.

From a longer-term perspective, Axcelis has shown that it can be very profitable when demand is healthy. In 2024 and much of 2025, the company repeatedly posted solid operating income and strong earnings, including several quarters with net income above $30 million and strong cash generation. However, the most recent quarter suggests a step down in momentum, likely tied to softer end-market demand and lower revenue conversion into profit.

The balance sheet remains a major strength. As of Q1 2026, Axcelis held $150.8 million in cash and $215.8 million in short-term investments, along with $203.3 million in long-term investments. Total current assets were $935.7 million versus only $203.9 million in current liabilities, giving the company a strong liquidity cushion. Total liabilities were modest at $329.9 million versus $1.04 billion in equity, which leaves the company in a financially flexible position even during a weaker earnings period.

Cash flow was also respectable in Q1 2026. The company generated $18.1 million in operating cash flow, despite the drop in reported earnings. That said, operating cash flow was down meaningfully from $45.4 million in Q3 2025 and $39.7 million in Q2 2025, reflecting the same slowdown seen in the income statement. Axcelis continues to invest in the business, but the quarter shows that cash generation has become less robust than it was during the stronger parts of 2024 and 2025.

  • Strong liquidity position: Cash, short-term investments, and long-term investments give Axcelis plenty of financial flexibility.
  • Low leverage: Total liabilities of $329.9 million are well below total equity of $1.04 billion.
  • Still profitable: Even in a weaker quarter, the company generated $9.2 million of net income.
  • Positive operating cash flow: Q1 2026 operating cash flow of $18.1 million remained solidly positive.
  • Healthy gross profit base: Gross profit of $80.6 million shows the business still has strong underlying margins.
  • Large inventory balance: Inventory rose to $326.1 million, which may warrant monitoring if demand stays soft.
  • Share count is fairly stable: Diluted shares outstanding were 30.98 million in Q1 2026, not showing major dilution pressure.
  • Investment income helps results: Interest and investment income continued to offset some of the operating pressure.
  • Capital spending remains modest: Q1 2026 capex was only $1.8 million, suggesting restrained investment spending for now.
  • Revenue declined sharply quarter over quarter: Sales fell from $238.3 million in Q4 2025 to $199.0 million in Q1 2026.
  • Operating income compressed: Operating income dropped to $8.0 million from $36.2 million in the prior quarter.
  • Net income fell sharply: Q1 2026 profit was well below the levels seen in most of 2024 and 2025.
  • Cash flow weakened: Operating cash flow was materially lower than the stronger quarters posted in 2025.
  • Margins are under pressure: Cost of revenue consumed a large portion of sales, limiting earnings leverage.

Overall, Axcelis looks financially sound, but the operating trend has clearly softened. Investors may take comfort in the strong balance sheet and ongoing profitability, but they should also watch whether the Q1 2026 slowdown is temporary or the start of a deeper downturn in equipment demand.

08/15/26 10:32 AM ETAI Generated. May Contain Errors.

Axcelis Technologies Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Axcelis Technologies' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Axcelis Technologies' net income appears to be on an upward trend, with a most recent value of $120.24 million in 2025, rising from $14.68 million in 2015. The previous period was $200.99 million in 2024. See where experts think Axcelis Technologies is headed by visiting Axcelis Technologies' forecast page.

Axcelis Technologies' total operating income in 2025 was $119.32 million, based on the following breakdown:
  • Total Gross Profit: $376.85 million
  • Total Operating Expenses: $257.53 million

Over the last 10 years, Axcelis Technologies' total revenue changed from $301.50 million in 2015 to $839.05 million in 2025, a change of 178.3%.

Axcelis Technologies' total liabilities were at $326.67 million at the end of 2025, a 2.8% decrease from 2024, and a 233.3% increase since 2015.

In the past 10 years, Axcelis Technologies' cash and equivalents has ranged from $70.79 million in 2016 to $294.92 million in 2021, and is currently $145.45 million as of their latest financial filing in 2025.

Over the last 10 years, Axcelis Technologies' book value per share changed from 1.59 in 2015 to 33.38 in 2025, a change of 2,001.7%.


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Financial statements for NASDAQ:ACLS last updated on 8/6/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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