Axcelis Technologies (ACLS) Financials

$160.49 +20.79 (+14.88%)

As of 11:10 AM Eastern

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

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

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	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
Net Income / (Loss) Attributable to Common Shareholders	62	66	71	52	51	49	50	29	31	26	34
Consolidated Net Income / (Loss)	62	66	71	52	51	49	50	29	31	26	34
Net Income / (Loss) Continuing Operations	62	66	71	52	51	49	50	29	31	26	34
Total Pre-Tax Income	65	74	87	59	57	55	59	33	35	30	40
Total Operating Income	64	72	79	57	53	47	55	29	29	25	36
Total Gross Profit	120	130	138	116	112	110	116	89	87	89	112
Total Revenue	274	292	310	252	257	257	252	193	195	214	238
Operating Revenue	274	292	310	252	257	257	252	193	195	214	238
Total Cost of Revenue	154	163	172	136	144	147	136	104	107	125	126
Operating Cost of Revenue	154	163	172	136	144	147	136	104	107	125	126
Total Operating Expenses	56	58	59	60	60	63	62	60	58	64	76
Selling, General & Admin Expense	16	17	17	16	17	20	17	17	16	23	26
Marketing Expense	16	16	17	17	17	17	17	15	15	16	19
Research & Development Expense	24	24	25	26	26	26	28	27	27	25	30
Total Other Income / (Expense), net	0.91	2.00	8.36	2.46	4.46	8.45	4.11	3.93	6.03	5.13	3.85
Interest Expense	1.35	1.33	1.32	1.35	1.34	1.33	1.44	1.37	1.36	1.31	1.34
Interest & Investment Income	4.31	4.58	5.38	5.52	6.05	6.56	6.28	5.60	5.48	5.47	4.94
Other Income / (Expense), net	-2.05	-1.26	4.30	-1.71	-0.26	3.23	-0.72	-0.31	1.91	0.97	0.25
Income Tax Expense	3.04	7.74	16	7.40	6.40	6.79	8.69	4.51	3.62	4.16	5.72
Basic Earnings per Share	$1.88	$2.01	$2.17	$1.58	$1.56	$1.49	$1.54	$0.89	$0.99	$0.83	$1.10
Weighted Average Basic Shares Outstanding	32.78M	32.81M	32.76M	32.64M	32.60M	32.55M	32.55M	32.26M	31.85M	31.29M	31.57M
Diluted Earnings per Share	$1.86	$1.99	$2.15	$1.57	$1.55	$1.49	$1.54	$0.88	$0.98	$0.83	$1.11
Weighted Average Diluted Shares Outstanding	33.19M	33.16M	33.17M	32.93M	32.77M	32.68M	32.70M	32.34M	31.88M	31.45M	31.67M
Weighted Average Basic & Diluted Shares Outstanding	32.82M	32.75M	32.63M	32.53M	32.62M	32.51M	32.15M	32.13M	31.42M	31.00M	30.72M

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

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	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	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
Net Change in Cash & Equivalents	-32	9.79	25	-33	11	-25	4.35	60	-10	14	-39
Net Cash From Operating Activities	33	24	66	42	40	46	13	40	40	45	-6.57
Net Cash From Continuing Operating Activities	33	24	66	42	40	46	13	40	40	45	-6.57
Net Income / (Loss) Continuing Operations	62	66	71	52	51	49	50	29	31	26	34
Consolidated Net Income / (Loss)	62	66	71	52	51	49	50	29	31	26	34
Depreciation Expense	3.16	3.23	3.58	3.78	3.86	3.91	4.27	4.31	4.52	4.33	4.46
Amortization Expense	-2.91	-2.71	-3.61	-3.31	-3.32	-3.54	-2.27	-0.62	-1.64	-1.08	-0.82
Non-Cash Adjustments To Reconcile Net Income	11	9.02	1.68	12	12	-4.48	18	5.03	0.23	11	11
Changes in Operating Assets and Liabilities, net	-40	-51	-7.13	-22	-23	1.29	-57	2.50	5.24	5.31	-55
Net Cash From Investing Activities	-40	-0.94	-27	-56	-5.60	-57	9.12	40	-4.61	1.38	-7.31
Net Cash From Continuing Investing Activities	-40	-0.94	-27	-56	-5.60	-57	9.12	40	-4.61	1.38	-7.31
Purchase of Property, Plant & Equipment	-2.96	-5.30	-10	-1.62	-2.00	-3.90	-4.66	-4.96	-1.99	-2.02	-2.34
Purchase of Investments	-127	-83	-117	-145	-104	-185	-105	-252	-93	-161	-139
Sale and/or Maturity of Investments	90	87	101	91	100	132	119	298	90	165	134
Net Cash From Financing Activities	-23	-13	-15	-18	-23	-16	-15	-20	-47	-33	-25
Net Cash From Continuing Financing Activities	-23	-13	-15	-18	-23	-16	-15	-20	-47	-33	-25
Repurchase of Common Equity	-13	-12	-15	-15	-15	-15	-15	-18	-45	-32	-25
Issuance of Common Equity	-	-	1.10	-	-	-	1.14	-	-	-	1.21
Other Financing Activities, net	-12	-0.67	-1.12	-3.06	-8.85	-0.63	-0.56	-1.93	-2.90	-0.44	-0.60
Effect of Exchange Rate Changes	-1.09	-0.12	1.13	-1.81	-0.66	1.70	-3.01	0.29	1.64	-0.11	-0.55

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

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	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	9/30/2022	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
Total Assets	906	1,080	1,122	1,202	1,307	1,288	1,338	1,341	1,323	1,352
Total Current Assets	775	934	950	1,015	1,105	1,078	1,122	1,114	1,064	984
Cash & Equivalents	309	164	133	142	134	145	120	184	174	188
Short-Term Investments	34	280	320	319	396	403	459	403	376	262
Accounts Receivable	174	190	159	192	209	188	184	165	139	148
Inventories, net	227	262	300	312	312	283	291	296	311	324
Prepaid Expenses	33	38	38	49	55	55	57	59	60	58
Current Deferred & Refundable Income Taxes	-	-	-	-	-	4.11	11	6.62	5.51	4.69
Plant, Property, & Equipment, net	39	41	43	47	53	52	54	57	57	58
Total Noncurrent Assets	92	104	128	139	148	158	162	170	202	310
Long-Term Investments	-	-	-	-	-	-	-	-	31	143
Noncurrent Note & Lease Receivables	18	18	17	17	16	16	16	15	15	14
Noncurrent Deferred & Refundable Income Taxes	28	35	39	44	55	55	59	69	72	70
Other Noncurrent Operating Assets	45	45	65	72	71	80	80	78	76	75
Other Noncurrent Nonoperating Assets	0.75	6.65	6.65	6.65	6.65	6.65	6.65	7.55	7.63	7.63
Total Liabilities & Shareholders' Equity	906	1,080	1,122	1,202	1,307	1,288	1,338	1,341	1,323	1,352
Total Liabilities	291	378	378	401	405	353	363	313	301	332
Total Current Liabilities	208	268	248	261	277	244	252	200	177	199
Accounts Payable	54	60	61	60	40	46	54	39	37	52
Accrued Expenses	8.48	9.60	11	11	14	15	15	12	11	9.26
Current Deferred Revenue	101	157	139	148	165	148	139	110	90	81
Current Employee Benefit Liabilities	29	14	17	27	16	16	23	15	17	24
Other Current Liabilities	15	14	14	14	14	19	22	24	23	31
Total Noncurrent Liabilities	84	110	129	140	128	109	110	113	124	133
Capital Lease Obligations	46	-	44	44	43	43	43	42	42	41
Noncurrent Deferred Revenue	21	45	44	54	44	26	25	29	40	47
Other Noncurrent Operating Liabilities	17	65	41	42	41	41	42	42	43	44
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	615	702	744	801	902	935	976	1,027	1,022	1,020
Total Preferred & Common Equity	615	702	744	801	902	935	976	1,027	1,022	1,020
Total Common Equity	615	702	744	801	902	935	976	1,027	1,022	1,020
Common Stock	550	548	540	544	547	543	545	547	536	533
Retained Earnings	71	156	207	262	358	397	432	486	487	489
Accumulated Other Comprehensive Income / (Loss)	-5.77	-1.92	-2.93	-4.16	-3.57	-4.48	-2.22	-5.49	-0.48	-1.61

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%

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

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	9/30/2023	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
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	23.87%	27.56%	16.63%	-0.65%	-6.37%	-12.23%	-18.65%	-23.70%	-24.16%	-16.74%	-5.58%
EBITDA Growth	19.11%	47.42%	23.85%	9.33%	-14.23%	-28.81%	-33.01%	-41.15%	-36.44%	-42.11%	-28.22%
EBIT Growth	25.59%	55.69%	29.67%	8.96%	-14.77%	-28.80%	-35.44%	-47.38%	-41.26%	-48.16%	-32.32%
NOPAT Growth	22.30%	34.72%	32.27%	6.78%	-22.74%	-35.83%	-27.72%	-49.06%	-44.64%	-47.61%	-33.26%
Net Income Growth	39.35%	63.67%	24.68%	8.17%	-17.40%	-26.32%	-29.70%	-44.61%	-38.32%	-46.50%	-31.34%
EPS Growth	40.91%	64.46%	25.73%	9.79%	-16.67%	-25.13%	-28.37%	-43.95%	-36.77%	-44.30%	-27.92%
Operating Cash Flow Growth	847.71%	-62.47%	-46.42%	22.18%	22.47%	90.46%	-80.51%	-5.75%	-0.85%	-0.87%	-151.39%
Free Cash Flow Firm Growth	202.00%	-74.19%	-521.08%	-204.81%	-161.52%	-418.82%	34.54%	61.99%	43.95%	47.74%	97.26%
Invested Capital Growth	-4.60%	18.85%	41.58%	62.99%	28.58%	14.53%	20.33%	16.25%	12.38%	6.64%	6.71%
Revenue Q/Q Growth	7.85%	6.70%	6.14%	-18.67%	1.64%	0.02%	-1.62%	-23.71%	1.03%	9.80%	11.57%
EBITDA Q/Q Growth	22.39%	14.60%	17.45%	-33.63%	-3.98%	-4.89%	10.52%	-41.70%	3.72%	-13.37%	37.02%
EBIT Q/Q Growth	22.53%	14.21%	18.36%	-34.22%	-4.15%	-4.60%	7.33%	-46.39%	7.01%	-15.81%	40.12%
NOPAT Q/Q Growth	31.12%	5.65%	0.18%	-23.06%	-5.13%	-12.25%	12.85%	-45.77%	3.10%	-16.96%	43.75%
Net Income Q/Q Growth	29.10%	7.07%	7.77%	-27.39%	-1.41%	-4.50%	2.84%	-42.79%	9.79%	-17.18%	31.98%
EPS Q/Q Growth	30.07%	6.99%	8.04%	-26.98%	-1.27%	-3.87%	3.36%	-42.86%	11.36%	-15.31%	33.73%
Operating Cash Flow Q/Q Growth	-5.34%	-26.58%	173.00%	-35.61%	-5.11%	14.18%	-72.06%	211.39%	-0.17%	14.15%	-114.48%
Free Cash Flow Firm Q/Q Growth	-25.91%	-94.40%	-1,312.59%	-108.43%	56.51%	70.99%	-148.97%	-21.02%	35.86%	72.96%	86.96%
Invested Capital Q/Q Growth	31.34%	14.71%	4.87%	3.15%	3.62%	2.18%	10.18%	-0.34%	0.16%	-3.04%	10.25%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	43.69%	44.36%	44.44%	45.98%	43.82%	42.86%	46.04%	46.10%	44.90%	41.57%	46.96%
EBITDA Margin	22.59%	24.27%	26.85%	21.91%	20.70%	19.68%	22.11%	16.90%	17.35%	13.69%	16.81%
Operating Margin	23.25%	24.52%	25.48%	22.40%	20.59%	18.29%	21.60%	15.14%	14.89%	11.71%	15.18%
EBIT Margin	22.51%	24.09%	26.86%	21.73%	20.49%	19.54%	21.32%	14.98%	15.87%	12.17%	15.28%
Profit (Net Income) Margin	22.48%	22.55%	22.90%	20.44%	19.83%	18.93%	19.79%	14.84%	16.13%	12.17%	14.39%
Tax Burden Percent	95.30%	89.49%	81.29%	87.45%	88.83%	87.74%	85.18%	86.38%	89.65%	86.19%	85.70%
Interest Burden Percent	104.80%	104.62%	104.87%	107.61%	108.97%	110.43%	108.98%	114.68%	113.37%	116.01%	109.89%
Effective Tax Rate	4.70%	10.51%	18.71%	12.55%	11.17%	12.26%	14.82%	13.62%	10.35%	13.81%	14.30%
Return on Invested Capital (ROIC)	67.30%	68.61%	69.35%	67.16%	54.06%	42.63%	42.96%	28.39%	26.63%	19.29%	22.17%
ROIC Less NNEP Spread (ROIC-NNEP)	67.04%	68.11%	67.77%	66.70%	53.21%	41.10%	42.27%	27.74%	25.61%	18.48%	21.55%
Return on Net Nonoperating Assets (RNNOA)	-33.10%	-34.68%	-37.90%	-39.30%	-29.38%	-22.37%	-22.64%	-15.05%	-13.85%	-10.21%	-11.19%
Return on Equity (ROE)	34.20%	33.93%	31.45%	27.85%	24.68%	20.26%	20.32%	13.34%	12.77%	9.07%	10.98%
Cash Return on Invested Capital (CROIC)	64.95%	45.92%	35.16%	24.40%	34.72%	36.30%	23.74%	21.15%	19.26%	20.28%	14.60%
Operating Return on Assets (OROA)	23.82%	24.83%	26.46%	20.56%	18.90%	16.55%	16.50%	10.84%	10.89%	7.72%	9.46%
Return on Assets (ROA)	23.79%	23.25%	22.56%	19.34%	18.29%	16.04%	15.31%	10.74%	11.07%	7.72%	8.91%
Return on Common Equity (ROCE)	34.20%	33.93%	31.45%	27.85%	24.68%	20.26%	20.32%	13.34%	12.77%	9.07%	10.98%
Return on Equity Simple (ROE_SIMPLE)	27.76%	28.99%	0.00%	27.74%	25.61%	22.76%	0.00%	17.33%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	61	64	64	49	47	41	46	25	26	22	31
NOPAT Margin	22.16%	21.94%	20.71%	19.59%	18.29%	16.04%	18.40%	13.08%	13.35%	10.10%	13.01%
Net Nonoperating Expense Percent (NNEP)	0.26%	0.50%	1.59%	0.46%	0.85%	1.53%	0.70%	0.65%	1.02%	0.80%	0.62%
Return On Investment Capital (ROIC_SIMPLE)	-	-	7.07%	-	-	-	4.40%	2.36%	2.44%	2.03%	2.88%
Cost of Revenue to Revenue	56.31%	55.64%	55.56%	54.02%	56.18%	57.14%	53.96%	53.90%	55.10%	58.43%	53.04%
SG&A Expenses to Revenue	5.96%	5.97%	5.57%	6.50%	6.46%	7.74%	6.92%	9.01%	8.38%	10.91%	11.01%
R&D to Revenue	8.81%	8.24%	8.03%	10.17%	10.05%	10.29%	10.96%	14.09%	13.91%	11.54%	12.64%
Operating Expenses to Revenue	20.44%	19.84%	18.96%	23.58%	23.23%	24.58%	24.44%	30.96%	30.01%	29.86%	31.79%
Earnings before Interest and Taxes (EBIT)	62	70	83	55	53	50	54	29	31	26	36
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	62	71	83	55	53	51	56	33	34	29	40
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	8.06	6.68	4.91	0.00	4.95	3.51	2.24	1.55	2.19	3.01	2.41
Price to Tangible Book Value (P/TBV)	8.06	6.68	4.91	0.00	4.95	3.51	2.24	1.55	2.19	3.01	2.41
Price to Revenue (P/Rev)	5.86	4.93	3.76	0.00	4.16	3.18	2.23	1.67	2.50	3.60	2.97
Price to Earnings (P/E)	29.03	23.04	17.25	0.00	19.32	15.40	11.30	8.97	14.13	22.57	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	3.44%	4.34%	5.80%	0.00%	5.18%	6.49%	8.85%	11.14%	7.08%	4.43%	4.83%
Enterprise Value to Invested Capital (EV/IC)	16.99	13.07	9.56	0.00	9.74	6.67	3.66	2.22	3.58	5.46	3.89
Enterprise Value to Revenue (EV/Rev)	5.46	4.54	3.35	0.00	3.71	2.68	1.71	1.10	1.90	2.95	2.35
Enterprise Value to EBITDA (EV/EBITDA)	24.52	19.68	14.19	0.00	15.69	11.90	8.11	5.48	9.85	16.63	14.56
Enterprise Value to EBIT (EV/EBIT)	25.23	20.00	14.24	0.00	15.78	11.97	8.24	5.68	10.38	18.03	16.17
Enterprise Value to NOPAT (EV/NOPAT)	27.53	22.49	16.11	0.00	18.35	14.29	9.47	6.59	12.24	21.10	19.03
Enterprise Value to Operating Cash Flow (EV/OCF)	22.03	23.09	24.13	0.00	23.97	14.89	12.37	7.60	12.31	18.28	16.69
Enterprise Value to Free Cash Flow (EV/FCFF)	25.54	30.92	31.88	0.00	31.57	19.62	16.83	11.27	19.65	27.78	27.49
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.06	0.06	0.05	0.05	0.05	0.04	0.04	0.04	0.04	0.04	0.04
Long-Term Debt to Equity	0.06	0.06	0.05	0.05	0.05	0.04	0.04	0.04	0.04	0.04	0.04
Financial Leverage	-0.49	-0.51	-0.56	-0.59	-0.55	-0.54	-0.54	-0.54	-0.54	-0.55	-0.52
Leverage Ratio	1.45	1.49	1.50	1.49	1.44	1.43	1.40	1.37	1.33	1.35	1.32
Compound Leverage Factor	1.52	1.56	1.57	1.60	1.56	1.58	1.53	1.57	1.51	1.56	1.45
Debt to Total Capital	5.64%	5.22%	4.81%	4.58%	4.40%	4.19%	4.01%	3.92%	3.91%	3.88%	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	5.64%	5.22%	4.81%	4.58%	4.40%	4.19%	4.01%	3.92%	3.91%	3.88%	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	94.36%	94.78%	95.19%	95.42%	95.60%	95.81%	95.99%	96.08%	96.09%	96.12%	96.21%
Debt to EBITDA	0.20	0.18	0.16	0.16	0.16	0.18	0.20	0.22	0.24	0.27	0.30
Net Debt to EBITDA	-1.79	-1.66	-1.73	-1.79	-1.92	-2.22	-2.46	-2.84	-3.13	-3.64	-3.80
Long-Term Debt to EBITDA	0.20	0.18	0.16	0.16	0.16	0.18	0.20	0.22	0.24	0.27	0.30
Debt to NOPAT	0.22	0.20	0.19	0.18	0.19	0.21	0.23	0.26	0.30	0.35	0.39
Net Debt to NOPAT	-2.01	-1.90	-1.97	-2.04	-2.25	-2.66	-2.88	-3.41	-3.88	-4.63	-4.97
Long-Term Debt to NOPAT	0.22	0.20	0.19	0.18	0.19	0.21	0.23	0.26	0.30	0.35	0.39
Altman Z-Score	11.63	10.17	8.30	0.00	10.06	7.82	6.25	5.17	6.54	7.45	6.45
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	3.82	3.89	3.79	4.00	4.42	4.45	5.41	5.56	6.01	4.95	4.77
Quick Ratio	2.46	2.50	2.54	2.67	3.02	3.02	3.73	3.75	3.89	3.00	2.75
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	77	4.29	-52	-108	-47	-14	-34	-41	-26	-7.14	-0.93
Operating Cash Flow to CapEx	1,104.49%	453.12%	645.87%	2,606.36%	1,999.35%	1,173.33%	274.37%	802.32%	2,001.36%	2,250.62%	-281.24%
Free Cash Flow to Firm to Interest Expense	56.76	3.23	-39.37	-80.47	-35.18	-10.25	-23.56	-30.12	-19.49	-5.47	-0.70
Operating Cash Flow to Interest Expense	24.25	18.13	49.68	31.37	29.92	34.32	8.85	29.11	29.32	34.75	-4.91
Operating Cash Flow Less CapEx to Interest Expense	22.06	14.13	41.99	30.17	28.43	31.39	5.62	25.48	27.85	33.21	-6.66
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.06	1.03	0.99	0.95	0.92	0.85	0.77	0.72	0.69	0.63	0.62
Accounts Receivable Turnover	6.70	5.93	5.83	5.67	6.40	5.72	4.83	5.13	5.48	5.15	4.52
Inventory Turnover	2.29	2.31	2.33	2.18	2.11	1.99	1.91	1.75	1.66	1.53	1.51
Fixed Asset Turnover	25.99	25.28	24.15	24.02	23.26	21.17	18.89	17.41	16.32	15.18	15.27
Accounts Payable Turnover	10.67	10.93	10.95	12.47	11.58	10.51	11.12	13.46	11.91	8.86	10.36
Days Sales Outstanding (DSO)	54.46	61.52	62.59	64.36	57.02	63.77	75.50	71.15	66.58	70.84	80.83
Days Inventory Outstanding (DIO)	159.56	157.70	156.69	167.51	172.85	183.65	190.76	209.10	219.49	237.91	241.35
Days Payable Outstanding (DPO)	34.19	33.40	33.33	29.27	31.52	34.74	32.83	27.11	30.64	41.18	35.24
Cash Conversion Cycle (CCC)	179.82	185.83	185.95	202.60	198.36	212.67	233.43	253.13	255.43	267.57	286.94
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	329	377	396	408	423	432	476	475	475	461	508
Invested Capital Turnover	3.04	3.13	3.35	3.43	2.96	2.66	2.33	2.17	2.00	1.91	1.70
Increase / (Decrease) in Invested Capital	-16	60	116	158	94	55	80	66	52	29	32
Enterprise Value (EV)	5,589	4,934	3,785	0.00	4,120	2,883	1,742	1,052	1,700	2,516	1,975
Market Capitalization	5,997	5,351	4,247	0.00	4,626	3,420	2,271	1,597	2,239	3,068	2,490
Book Value per Share	$22.75	$24.41	$26.41	$27.63	$28.74	$29.91	$31.16	$31.95	$31.82	$32.47	$33.38
Tangible Book Value per Share	$22.75	$24.41	$26.41	$27.63	$28.74	$29.91	$31.16	$31.95	$31.82	$32.47	$33.38
Total Capital	788	845	909	945	978	1,018	1,055	1,069	1,064	1,061	1,075
Total Debt	44	44	44	43	43	43	42	42	42	41	41
Total Long-Term Debt	44	44	44	43	43	43	42	42	42	41	41
Net Debt	-408	-417	-462	-487	-505	-537	-529	-545	-539	-552	-516
Capital Expenditures (CapEx)	2.96	5.30	10	1.62	2.00	3.90	4.66	4.96	1.99	2.02	2.34
Debt-free, Cash-free Net Working Capital (DFCFNWC)	249	293	289	299	286	290	345	327	338	335	371
Debt-free Net Working Capital (DFNWC)	702	754	795	829	834	870	916	914	887	785	746
Net Working Capital (NWC)	702	754	795	829	834	870	916	914	887	785	746
Net Nonoperating Expense (NNE)	-0.87	-1.79	-6.79	-2.15	-3.96	-7.42	-3.50	-3.39	-5.41	-4.42	-3.30
Net Nonoperating Obligations (NNO)	-415	-424	-469	-494	-512	-543	-537	-553	-547	-559	-527
Total Depreciation and Amortization (D&A)	0.25	0.52	-0.03	0.47	0.54	0.36	2.00	3.69	2.88	3.25	3.64
Debt-free, Cash-free Net Working Capital to Revenue	24.32%	26.96%	25.54%	26.46%	25.72%	27.00%	33.87%	34.08%	37.67%	39.32%	44.25%
Debt-free Net Working Capital to Revenue	68.58%	69.39%	70.30%	73.42%	75.05%	80.86%	90.00%	95.36%	99.03%	92.02%	88.86%
Net Working Capital to Revenue	68.58%	69.39%	70.30%	73.42%	75.05%	80.86%	90.00%	95.36%	99.03%	92.02%	88.86%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.88	$2.01	$2.17	$1.58	$1.56	$1.49	$1.54	$0.89	$0.99	$0.83	$1.10
Adjusted Weighted Average Basic Shares Outstanding	32.78M	32.81M	32.76M	32.64M	32.60M	32.55M	32.55M	32.26M	31.85M	31.29M	31.57M
Adjusted Diluted Earnings per Share	$1.86	$1.99	$2.15	$1.57	$1.55	$1.49	$1.54	$0.88	$0.98	$0.83	$1.11
Adjusted Weighted Average Diluted Shares Outstanding	33.19M	33.16M	33.17M	32.93M	32.77M	32.68M	32.70M	32.34M	31.88M	31.45M	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	32.82M	32.75M	32.63M	32.53M	32.62M	32.51M	32.15M	32.13M	31.42M	31.00M	30.72M
Normalized Net Operating Profit after Tax (NOPAT)	61	64	64	49	47	41	46	25	26	22	31
Normalized NOPAT Margin	22.16%	21.94%	20.71%	19.59%	18.29%	16.04%	18.40%	13.08%	13.35%	10.10%	13.01%
Pre Tax Income Margin	23.59%	25.20%	28.17%	23.38%	22.32%	21.58%	23.23%	17.18%	17.99%	14.11%	16.79%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	45.71	53.15	63.14	40.73	39.25	37.61	37.27	21.10	22.78	19.92	27.24
NOPAT to Interest Expense	45.01	48.41	48.68	36.73	35.03	30.88	32.17	18.43	19.16	16.52	23.19
EBIT Less CapEx to Interest Expense	43.51	49.15	55.45	39.53	37.75	34.69	34.04	17.48	21.32	18.37	25.49
NOPAT Less CapEx to Interest Expense	42.81	44.41	40.99	35.53	33.54	27.95	28.94	14.80	17.70	14.98	21.44
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	24.21%	21.53%	21.32%	21.99%	24.01%	27.18%	30.10%	35.77%	59.32%	81.67%	100.70%

Financials Breakdown Chart

Key Financial Trends

Here is a concise, data-driven snapshot of Axcelis Technologies (ACLS) covering the last four years, with a focus on margins, cash flow, and balance sheet strength. The bullets categorize items as positive, neutral, or negative and are ordered accordingly.

Gross margin stability with a slight uptick in 2025. Q4 2025 gross margin was about 46.9% (gross profit of 111.931m on revenue of 238.33m), up from 46.0% in Q4 2024 (116.224m gross profit on 252.417m revenue).
Net income remained positive across 2025 quarters. Net income attributable to common shareholders was positive in Q1–Q4 2025 (e.g., ~34.3m in Q4 2025), signaling ongoing profitability despite revenue fluctuations.
Solid operating cash flow in several 2025 quarters. Notably, net cash from continuing operating activities was about 45.35m in Q3 2025 and ~39.8m in Q4 2025, indicating strong cash generation during the year.
Healthy equity base and retained earnings support balance sheet resilience. Total equity around 1.02 billion in mid-2025 with retained earnings near 487–488 million, suggesting a solid capital base.
Revenue shows seasonality and variability. 2025 quarterly revenue rose through the year (Q1 ~192.6m to Q4 ~238.3m), but 2025 annual revenue remains below several 2024 peaks.
R&D and marketing spend rose in 2025. R&D and marketing expenses increased in 2025 (e.g., higher RD and SG&A/mktg spend relative to 2024), contributing to higher operating expenses in some quarters.
Operating margin compressed in 2025 vs. 2024. Q4 2025 operating margin ≈ 15%, down from about 20% in Q4 2024, reflecting higher expense levels or pricing dynamics.
Cash on hand declined in 2025 vs. 2024. Cash & equivalents hovered around the 174–187m range in 2025 (vs about 252m in Q4 2024), indicating tighter near-term liquidity.
Investing outflows were sizable in 2025. Large purchases of investments (e.g., ~161.5m in Q3 2025 and ~139.4m in Q4 2025) reduced cash, with offsetting investment maturities/sales occurring in some quarters.
Near-term quarterly cash flow weakness in Q4 2025. Q4 2025 showed negative net cash from continuing operating activities (~ -6.6m) and a negative quarterly net change in cash (~ -39.0m), signaling quarterly liquidity pressure.

05/06/26 10:20 AM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Axcelis Technologies' Financials

When does Axcelis Technologies' financial year end?

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.

How has Axcelis Technologies' net income changed over the last 10 years?

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. Check out Axcelis Technologies' forecast to explore projected trends and price targets.

What is Axcelis Technologies' operating income?

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

How has Axcelis Technologies' revenue changed over the last 10 years?

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%.

How much debt does Axcelis Technologies have?

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.

How much cash does Axcelis Technologies have?

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.

How has Axcelis Technologies' book value per share changed over the last 10 years?

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 2/27/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Axcelis Technologies (ACLS) Financials

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Axcelis Technologies (ACLS) Financials

Annual Income Statements for Axcelis Technologies

Quarterly Income Statements for Axcelis Technologies

Annual Cash Flow Statements for Axcelis Technologies

Quarterly Cash Flow Statements for Axcelis Technologies

Annual Balance Sheets for Axcelis Technologies

Quarterly Balance Sheets for Axcelis Technologies

Annual Metrics And Ratios for Axcelis Technologies

Quarterly Metrics And Ratios for Axcelis Technologies

Financials Breakdown Chart

Key Financial Trends

Frequently Asked Questions About Axcelis Technologies' Financials

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Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools