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Arphra AIPlain-English read on Axcelis Technologies, Inc.’s valuationIncome statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E |
|---|---|---|---|---|---|---|---|---|
| Revenue & profit | ||||||||
| Revenue | $662.43M | $920M | $1.13B | $1.02B | $839.05M | $843.91M | $925.22M | $1.03B |
| Cost of revenue | $375.98M | $518.21M | $639.3M | $563.21M | $462.2M | $462.2M | $502.51M | $573.19M |
| Gross profit | $286.45M | $401.79M | $491.3M | $454.65M | $376.85M | $368.88M | $398.42M | $445.06M |
| Gross margin | +43.24% | +43.67% | +43.45% | +44.67% | +44.91% | +43.71% | +43.06% | +43.21% |
| Operating | ||||||||
| Research & development | $65.43M | $78.36M | $96.91M | $105.5M | $108.96M | $90.63M | $99.8M | $112.29M |
| Selling, general & administrative | $93.69M | $111.07M | $128.6M | $138.36M | $148.58M | $119.07M | $129.84M | $143.64M |
| Total operating expenses | $159.12M | $189.43M | $225.51M | $243.86M | $257.53M | $208.78M | $229.83M | $262.97M |
| Operating income | $127.33M | $212.36M | $265.8M | $210.79M | $119.32M | $164.4M | $175.45M | $195.84M |
| Operating margin | +19.22% | +23.08% | +23.51% | +20.71% | +14.22% | +19.48% | +18.96% | +19.01% |
| EBITDA | $136.08M | $222.07M | $297.02M | $251.55M | $161.23M | $200.77M | $213.87M | $246.36M |
| EBIT | $125.26M | $210.46M | $283.95M | $235.74M | $143.61M | $181.32M | $206.79M | $223.85M |
| Below the line | ||||||||
| Interest expense | $4.84M | $5.58M | $5.35M | $5.46M | $5.36M | $4.74M | $5.06M | $5.63M |
| Interest income | $209K | $4.55M | $18.2M | $24.4M | $21.48M | $18.7M | $20.6M | $22.81M |
| Other income / expense | -$6.9M | -$7.48M | $12.8M | $19.48M | $18.93M | — | — | — |
| Pre-tax income | $120.43M | $204.89M | $278.6M | $230.27M | $138.25M | $177.17M | $201.65M | $221.44M |
| Income tax expense | $21.78M | $21.81M | $32.34M | $29.28M | $18.01M | $22.25M | $25.03M | $27.32M |
| Earnings | ||||||||
| Net income | $98.65M | $183.08M | $246.26M | $200.99M | $120.24M | $159.92M | $167.53M | $186.62M |
| Net income · continuing ops | $98.65M | $183.08M | $246.26M | $200.99M | $120.24M | $161.75M | $170.14M | $193.51M |
| Net margin | +14.89% | +19.90% | +21.78% | +19.75% | +14.33% | +18.95% | +18.11% | +18.12% |
| EPS · basic | $2.94 | $5.54 | $7.52 | $6.17 | $3.81 | $3.85 | $4.90 | $4.99 |
| EPS · diluted | $2.88 | $5.46 | $7.43 | $6.15 | $3.80 | $3.83 | $4.85 | $5.01 |
| EPS · low estimate | — | — | — | — | — | $3.69 | $4.45 | $4.87 |
| EPS · high estimate | — | — | — | — | — | $4.01 | $5.08 | $5.20 |
| Shares · basic | 33.56M | 33.04M | 32.76M | 32.55M | 31.57M | 31.32M | 31.78M | 31.64M |
| Shares · diluted | 34.27M | 33.54M | 33.17M | 32.7M | 31.67M | 31.69M | 31.66M | 31.94M |
| Coverage | ||||||||
| Analysts (revenue) | — | — | — | — | — | 3 | 4 | 1 |
| Analysts (EPS) | — | — | — | — | — | 3 | 3 | 1 |
Coverage notes. Historical figures come’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
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