Cash flow Axcelis Technologies, Inc.

Equities

ACLS

US0545402085

Semiconductor Equipment & Testing

Market Closed - Nasdaq Other stock markets 04:00:00 2025-01-13 pm EST			5-day change	1st Jan Change
68.77 ^USD	-0.96%		-7.63%	-1.57%

Dec. 16	BofA Adjusts Price Target on Axcelis Technologies to $86 From $100, Keeps Neutral Rating	MT
Dec. 03	Axcelis Technologies, Inc. Showcases Its Purion? and GSD Ovation? Series of Ion Implanters At the SEMICON Japan 2024 Exhibition	CI

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Published financial data: AXCELIS TECHNOLOGIES, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	343M	475M	662M	920M	1.13B
Total Revenues	343M	475M	662M	920M	1.13B
Cost of Goods Sold, Total	199M	276M	376M	518M	639M
Gross Profit	144M	199M	286M	402M	491M
Selling General & Admin Expenses, Total	66.33M	79.2M	94.12M	111M	129M
R&D Expenses	53.62M	61.34M	65M	78.03M	96.32M
Other Operating Expenses, Total	120M	141M	159M	189M	226M
Operating Income	24.2M	58.04M	127M	212M	266M
Interest Expense, Total	-5.16M	-5.21M	-4.84M	-5.58M	-5.35M
Interest And Investment Income	2.96M	738K	209K	4.55M	18.2M
Net Interest Expenses	-2.2M	-4.47M	-4.63M	-1.02M	12.85M
Currency Exchange Gains (Loss)	-600K	1.4M	-2.5M	-6.4M	-
Other Non Operating Income (Expenses)	-483K	918K	229K	-51K	-48K
EBT, Excl. Unusual Items	20.92M	55.89M	120M	205M	279M
Restructuring Charges	-	-	-	-	-
EBT, Incl. Unusual Items	20.92M	55.89M	120M	205M	279M
Income Tax Expense	3.89M	5.9M	21.78M	21.81M	32.34M
Earnings From Continuing Operations	17.03M	49.98M	98.65M	183M	246M
Net Income to Company	17.03M	49.98M	98.65M	183M	246M
Net Income - (IS)	17.03M	49.98M	98.65M	183M	246M
Net Income to Common Incl Extra Items	17.03M	49.98M	98.65M	183M	246M
Net Income to Common Excl. Extra Items	17.03M	49.98M	98.65M	183M	246M
Per Share Items
Net EPS - Basic	0.52	1.5	2.94	5.54	7.52
Basic EPS - Continuing Operations	0.52	1.5	2.94	5.54	7.52
Basic Weighted Average Shares Outstanding	32.56M	33.26M	33.56M	33.04M	32.76M
Net EPS - Diluted	0.5	1.46	2.88	5.46	7.43
Diluted EPS - Continuing Operations	0.5	1.46	2.88	5.46	7.43
Diluted Weighted Average Shares Outstanding	33.83M	34.13M	34.27M	33.54M	33.16M
Normalized Basic EPS	0.4	1.05	2.24	3.88	5.32
Normalized Diluted EPS	0.39	1.02	2.2	3.82	5.25
Supplemental Items
EBITDA	28.18M	62.78M	133M	219M	273M
EBITA	24.2M	58.04M	127M	212M	266M
EBIT	24.2M	58.04M	127M	212M	266M
EBITDAR	32.98M	69.14M	139M	227M	286M
Total Revenues (As Reported)	343M	475M	662M	920M	1.13B
Effective Tax Rate - (Ratio)	18.58	10.56	18.08	10.64	11.61
Current Domestic Taxes	5K	157K	82K	10.15M	48.86M
Current Foreign Taxes	579K	1.06M	1.44M	3.12M	3.5M
Total Current Taxes	584K	1.22M	1.52M	13.27M	52.35M
Deferred Domestic Taxes	3.11M	4.89M	20.93M	9M	-18.97M
Deferred Foreign Taxes	197K	-204K	-670K	-459K	-1.05M
Total Deferred Taxes	3.3M	4.68M	20.26M	8.54M	-20.02M
Normalized Net Income	13.08M	34.93M	75.27M	128M	174M
Interest on Long-Term Debt	5.16M	5.21M	5.09M	4.99M	4.87M
Supplemental Operating Expense Items
Selling and Marketing Expenses	32.91M	37.36M	45.94M	52.07M	61.13M
General and Administrative Expenses	30.94M	39.09M	45.14M	56.41M	64.68M
Research And Development Expense From Footnotes	53.93M	61.83M	65.43M	78.36M	96.91M
Net Rental Expense, Total	4.79M	6.36M	6.01M	8.34M	12.77M
Imputed Operating Lease Interest Expense	3.88M	4.96M	4.26M	6.46M	8.12M
Imputed Operating Lease Depreciation	918K	1.4M	1.75M	1.88M	4.65M
Stock-Based Comp., Other (Total)	8.17M	10.48M	12.07M	13.44M	18.27M
Total Stock-Based Compensation	8.17M	10.48M	12.07M	13.44M	18.27M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	140M	203M	295M	186M	167M
Short Term Investments	-	-	-	247M	339M
Total Cash And Short Term Investments	140M	203M	295M	432M	506M
Accounts Receivable, Total	83.75M	86.86M	104M	170M	218M
Total Receivables	83.75M	86.86M	104M	170M	218M
Inventory	140M	161M	195M	242M	306M
Prepaid Expenses	11.68M	19.37M	24.93M	33.3M	49.4M
Restricted Cash	-	-	-	-	-
Total Current Assets	376M	471M	619M	878M	1.08B
Gross Property Plant And Equipment	116M	122M	134M	139M	174M
Accumulated Depreciation	-62.78M	-66.91M	-70.67M	-69.15M	-72.83M
Net Property Plant And Equipment	53.06M	54.93M	63.45M	69.75M	101M
Deferred Tax Assets Long-Term	68.06M	57.85M	35.45M	31.7M	53.43M
Deferred Charges Long-Term	42.76M	38.46M	32M	30.24M	36.92M
Other Long-Term Assets, Total	8.54M	2.59M	3.08M	4.3M	10.31M
Total Assets	548M	625M	753M	1.01B	1.28B
Liabilities
Accounts Payable, Total	25.34M	24.01M	38.02M	62.35M	54.4M
Accrued Expenses, Total	7.63M	24.56M	30.73M	35.54M	31.44M
Current Portion of Long-Term Debt	-	-	-	-	-
Current Portion of Leases	3.54M	3.33M	5.7M	6.6M	6.49M
Current Income Taxes Payable	294K	654K	887K	4.3M	6.16M
Unearned Revenue Current, Total	24.6M	21.22M	60.45M	123M	165M
Other Current Liabilities	7.25M	10.65M	14.35M	15.88M	21.95M
Total Current Liabilities	68.66M	84.43M	150M	248M	285M
Long-Term Leases	50.7M	49.34M	50.77M	52.12M	69.4M
Unearned Revenue Non Current	4.65M	1.84M	7.98M	31.31M	46.21M
Other Non Current Liabilities	4.65M	7.41M	5.39M	14.83M	16.35M
Total Liabilities	129M	143M	214M	346M	417M
Common Stock, Total	33K	34K	33K	33K	33K
Additional Paid In Capital	560M	570M	560M	550M	547M
Retained Earnings	-140M	-91.97M	-22.72M	119M	320M
Treasury Stock	-	-	-	-	-
Comprehensive Income and Other	-258K	3.44M	1.76M	-1.97M	-1.85M
Total Common Equity	419M	482M	539M	667M	865M
Total Equity	419M	482M	539M	667M	865M
Total Liabilities And Equity	548M	625M	753M	1.01B	1.28B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	33.09M	33.73M	33.25M	32.71M	32.63M
ECS Total Common Shares Outstanding	32.58M	33.63M	33.24M	32.78M	32.68M
Book Value / Share	12.87	14.32	16.21	20.36	26.46
Tangible Book Value	419M	482M	539M	667M	865M
Tangible Book Value Per Share	12.87	14.32	16.21	20.36	26.46
Total Debt	54.24M	52.67M	56.47M	58.71M	75.89M
Net Debt	-85.64M	-151M	-238M	-373M	-430M
Debt Equivalent Oper. Leases	38.35M	50.87M	48.07M	66.72M	102M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	95.87M	100M	134M	187M	231M
Inventories - Work In Process, Total	32.13M	33.87M	43.16M	35.07M	45.37M
Inventories - Finished Goods, Total	12.37M	26.96M	18.04M	20.02M	29.91M
Land - (BS)	7.36M	10.89M	15.88M	18M	21.8M
Machinery, Total	28.73M	30.77M	34.31M	34.73M	41.55M
Full Time Employees	960	1K	1.12K	1.39K	1.62K
Accumulated Allowance for Doubtful Accounts (Supple)	818K	-	-	-	460K
Order Backlog	99.3M	116M	461M	1.12B	1.21B

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	17.03M	49.98M	98.65M	183M	246M
Depreciation & Amortization - CF	3.98M	4.74M	5.52M	6.41M	7.47M
Depreciation & Amortization, Total	3.98M	4.74M	5.52M	6.41M	7.47M
Amortization of Deferred Charges, Total - (CF)	3.9M	5.2M	5.3M	5.2M	5.6M
(Gain) Loss From Sale Of Asset	-	-168K	-	-	-
Stock-Based Compensation (CF)	8.17M	10.48M	12.07M	13.44M	18.27M
Provision and Write-off of Bad Debts	818K	-	-	-	1.13M
Other Operating Activities, Total	6.1M	8.38M	24.01M	19.09M	-24.63M
Change In Accounts Receivable	-6M	-1.39M	-18.15M	-67.27M	-50.76M
Change In Inventories	-17.95M	-17.65M	-39.02M	-58.43M	-69.96M
Change In Accounts Payable	-19.15M	18.06M	22.05M	31.39M	-8.1M
Change in Unearned Revenues	6.67M	-6.22M	45.38M	86.37M	56.18M
Change In Income Taxes	-162K	332K	253K	3.49M	3.79M
Change in Other Net Operating Assets	-17M	-2.05M	-5.87M	-7.16M	-28.38M
Cash from Operations	-13.59M	69.7M	150M	216M	157M
Capital Expenditure	-11.97M	-7.43M	-8.72M	-10.68M	-20.66M
Sale of Property, Plant, and Equipment	-	168K	-	-	-
Investment in Marketable and Equity Securities, Total	-	-	-	-247M	-80.2M
Cash from Investing	-11.97M	-7.27M	-8.72M	-257M	-101M
Long-Term Debt Issued, Total	-	-	-	-	-
Total Debt Issued	-	-	-	-	-
Long-Term Debt Repaid, Total	-	-399K	-763K	-987K	-1.24M
Total Debt Repaid	-	-399K	-763K	-987K	-1.24M
Issuance of Common Stock	5.97M	9.43M	4.87M	2.91M	2.08M
Repurchase of Common Stock	-17.74M	-7.5M	-49.99M	-57.5M	-52.5M
Other Financing Activities, Total	-1.63M	-3.92M	-6.56M	-9.91M	-16.61M
Cash from Financing	-13.41M	-2.39M	-52.45M	-65.48M	-68.27M
Foreign Exchange Rate Adjustments	603K	-2.35M	2.43M	-2.21M	-139K
Net Change in Cash	-38.37M	57.7M	91.45M	-109M	-12.4M
Supplemental Items
Cash Interest Paid	5.21M	5.16M	5.09M	4.99M	4.87M
Cash Income Tax Paid (Refund)	1.03M	876K	1.5M	10.76M	54.22M
Levered Free Cash Flow	-20.91M	30.48M	97.06M	120M	82.2M
Unlevered Free Cash Flow	-17.68M	33.73M	100M	123M	85.54M
Change In Net Working Capital	36.9M	15.53M	-6.33M	24.06M	91.26M
Net Debt Issued / Repaid	-	-399K	-763K	-987K	-1.24M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	2.76	6.19	11.55	15.02	14.47
Return on Total Capital	3.25	7.2	14.09	20.09	19.93
Return On Equity %	4.12	11.09	19.33	30.36	32.15
Return on Common Equity	4.12	11.09	19.33	30.36	32.15
Margin Analysis
Gross Profit Margin %	42.03	41.85	43.24	43.67	43.45
SG&A Margin	19.34	16.69	14.21	12.11	11.43
EBITDA Margin %	8.22	13.23	20.05	23.78	24.17
EBITA Margin %	7.06	12.23	19.22	23.08	23.51
EBIT Margin %	7.06	12.23	19.22	23.08	23.51
Income From Continuing Operations Margin %	4.97	10.53	14.89	19.9	21.78
Net Income Margin %	4.97	10.53	14.89	19.9	21.78
Net Avail. For Common Margin %	4.97	10.53	14.89	19.9	21.78
Normalized Net Income Margin	3.81	7.36	11.36	13.92	15.4
Levered Free Cash Flow Margin	-6.1	6.42	14.65	12.99	7.27
Unlevered Free Cash Flow Margin	-5.16	7.11	15.11	13.37	7.57
Asset Turnover
Asset Turnover	0.63	0.81	0.96	1.04	0.99
Fixed Assets Turnover	7.28	8.79	11.19	13.81	13.22
Receivables Turnover (Average Receivables)	4.22	5.56	6.93	6.71	5.83
Inventory Turnover (Average Inventory)	1.48	1.83	2.11	2.37	2.33
Short Term Liquidity
Current Ratio	5.47	5.58	4.12	3.54	3.79
Quick Ratio	3.26	3.44	2.66	2.43	2.54
Operating Cash Flow to Current Liabilities	-0.2	0.83	1	0.87	0.55
Days Sales Outstanding (Average Receivables)	86.46	65.79	52.7	54.39	62.59
Days Outstanding Inventory (Average Inventory)	247.27	199.89	172.83	154.04	156.69
Average Days Payable Outstanding	53.23	30.44	27.62	32.38	30.29
Cash Conversion Cycle (Average Days)	280.51	235.24	197.9	176.04	188.99
Long Term Solvency
Total Debt/Equity	12.93	10.94	10.48	8.8	8.77
Total Debt / Total Capital	11.45	9.86	9.48	8.09	8.07
LT Debt/Equity	12.09	10.25	9.42	7.81	8.02
Long-Term Debt / Total Capital	10.7	9.24	8.53	7.18	7.38
Total Liabilities / Total Assets	23.48	22.9	28.45	34.17	32.53
EBIT / Interest Expense	4.7	11.14	26.33	38.08	49.71
EBITDA / Interest Expense	6.4	13.27	28.72	40.73	53.49
(EBITDA - Capex) / Interest Expense	4.08	11.84	26.91	38.81	49.63
Total Debt / EBITDA	1.64	0.76	0.41	0.26	0.27
Net Debt / EBITDA	-2.6	-2.18	-1.72	-1.64	-1.5
Total Debt / (EBITDA - Capex)	2.58	0.85	0.43	0.27	0.29
Net Debt / (EBITDA - Capex)	-4.08	-2.44	-1.83	-1.73	-1.62
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-22.51	38.37	39.59	38.88	22.89
Gross Profit, 1 Yr. Growth %	-19.75	37.76	44.24	40.27	22.28
EBITDA, 1 Yr. Growth %	-55.35	122.74	111.6	64.68	24.91
EBITA, 1 Yr. Growth %	-59.63	139.79	119.37	66.79	25.16
EBIT, 1 Yr. Growth %	-59.63	139.79	119.37	66.79	25.16
Earnings From Cont. Operations, 1 Yr. Growth %	-62.88	193.42	97.37	85.58	34.51
Net Income, 1 Yr. Growth %	-62.88	193.42	97.37	85.58	34.51
Normalized Net Income, 1 Yr. Growth %	-61.75	167.12	115.49	70.13	35.98
Diluted EPS Before Extra, 1 Yr. Growth %	-62.96	192	97.26	89.58	36.08
Accounts Receivable, 1 Yr. Growth %	6.38	3.72	20.2	62.6	28.39
Inventory, 1 Yr. Growth %	8.81	14.76	21.05	24.32	26.43
Net Property, Plant and Equip., 1 Yr. Growth %	28.94	3.52	15.52	9.93	45.26
Total Assets, 1 Yr. Growth %	-0.06	13.96	20.59	34.57	26.47
Tangible Book Value, 1 Yr. Growth %	2.72	14.82	11.91	23.8	29.62
Common Equity, 1 Yr. Growth %	2.72	14.82	11.91	23.8	29.62
Cash From Operations, 1 Yr. Growth %	-128.94	-612.75	115.47	43.56	-27.24
Capital Expenditures, 1 Yr. Growth %	153.85	-37.89	17.27	22.54	93.35
Levered Free Cash Flow, 1 Yr. Growth %	-157.4	-245.78	218.47	23.17	-31.24
Unlevered Free Cash Flow, 1 Yr. Growth %