Advanced Energy(US:AEIS) Jing Ji Guan Cha Wang·2026-02-11 13:43Core Insights - Advanced Energy Industries (NASDAQ: AEIS) reported record high revenue and profit for the fiscal year 2025, driven primarily by its data center business [1] Financial Performance - Total revenue for fiscal year 2025 reached $1.799 billion, representing a year-over-year increase of 21.37% - Net income attributable to shareholders was $149 million, showing a significant year-over-year growth of 165.16% - The gross margin for the year was 37.25%, with an operating margin of 10.85% - In the fourth quarter, revenue was $489 million, up 17.81% year-over-year and 5.63% quarter-over-quarter - Net profit for the fourth quarter was $52.5 million, with a net margin of 10.73% - The gross margin for the fourth quarter improved to 39.44% [2] Business Development - The growth was primarily driven by the data center business, which saw an 80% year-over-year increase - The semiconductor business experienced single-digit growth, while the industrial medical segment declined by 12% - In the fourth quarter, strong demand for data center power solutions offset weaknesses in other segments [3] Financial Condition - Operating cash flow for the year was $233 million, with free cash flow at $126 million - Capital expenditures as a percentage of sales increased to 5.97%, indicating the company's investment in capacity to meet AI data center demands [4] Future Outlook - The company anticipates that the semiconductor market will remain flat in 2026, but there will be strong demand for high-end processes driven by AI - The data center business's engineering resources are becoming a bottleneck, leading the company to selectively invest in high-return projects [5]