Advanced Energy Industries (AEIS) FY2023 results: revenue $1.7 billion, down 10.3% on the year
Advanced Energy Industries Inc. (AEIS) reported revenue of $1.7 billion for fiscal 2023, the year ended 31 December 2023, down 10.3% on the year before. Net income was $128 million, down 35.7%, and diluted earnings per share $3.40. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2024.
Revenue
$1.7 billion
-10.3% on the year
FY2016FY2023
Operating margin
6.9%
12.6% a year earlier
FY2016FY2023
Net income
$128 million
-35.7% on the year
FY2016FY2023
Diluted EPS
$3.40
-35.7% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
209
184
140
+13.8%
Capital expenditure
61.0
58.9
28.8
+3.6%
Free cash flow
148
125
111
+18.6%
Free cash flow margin
8.9%
6.8%
7.7%
Cash from investing
-64.8
-208
-47.3
Cash from financing
446
-61.9
-25.4
Depreciation and amortisation
66.5
60.3
52.9
+10.3%
Share-based compensation
31.0
19.8
15.7
+56.2%
Buybacks
40.0
26.6
78.1
+50.2%
Dividends paid
15.2
15.2
15.4
+0.1%
Dividend per share
$0.10
$0.10
$0.10
0.0%
Diluted shares, weighted
38m
38m
38m
+0.1%
Shares outstanding at period end
37m
37m
38m
-0.3%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
1,144
1,066
871
+7.3%
Non-controlling interest
n/a
n/a
0.6
Debt
916
373
393
+145.3%
Operating lease liabilities
89.3
94.5
95.2
-5.4%
Other liabilities
408
458
458
-11.0%
Total liabilities and equity
2,557
1,992
1,817
+28.3%
Fixed assets
168
148
115
+12.9%
Goodwill
284
281
212
+0.9%
Intangible assets
161
190
159
-14.8%
Investments
n/a
n/a
2.3
Cash and equivalents
1,045
459
544
+127.7%
Receivables
282
301
n/a
-6.1%
Inventory
336
376
338
-10.6%
Other assets
281
237
446
+18.3%
Total assets
2,557
1,992
1,817
+28.3%
10-K for the year ended 31 December 2023, filed 20 February 2024: the filing.