Advanced Energy Industries, Inc.

AEIS · Technology · $10.8B mkt cap · FY2025 filings · Narrow moat

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Narrow moat

The four filters

Pricing power50

Median gross margin 38.0% over 10y, stable.

Returns on capital91

Median ROIC 19.5%, above the 9% hurdle in 80% of years.

Balance-sheet safety75

Net cash position — no leverage risk.

Capital discipline53

Owner earnings +1.6%/yr, share count shrinking (buybacks).

Margin of safety

Above valueOn sale

553% above value

Owner earnings (normalized): $148.4M
Est. intrinsic value / share: $43.62
Recent price: $284.85
Discount to value: 553% above value

Conservative model: 9% discount rate, 0% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Moat Score history

Score history begins 2026-07-17. Check back as the record builds.

Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell AEIS. See the disclaimer.