ACLSAxcelis Technologies, Inc.
Is the business good?
The checks split: earnings fully cash-backed (1.0×), but margins compressing.
Mixed fundamental signals. Nine pass/fail tests of year-over-year health from the filings.
Operating profit is fully backed by cash.
Operating margin has narrowed over the past few years, profitability per dollar of sales is eroding.
A balanced mix of margins, efficiency, and leverage. ROE 11% = margin × turnover × leverage.
Unless marked, from derived.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is ACLS?
Axcelis Technologies, Inc. keeps 10% of every revenue dollar as operating profit, against 10% for the median Semiconductor Equipment & Materials name.
Operating margin · Semiconductor Equipment & Materials median 10% · 12 months to Q2 2026
- Cash conversion
- 0.96×
Cash conversion · 0.99× a year ago · operating cash flow covers the operating profit after tax
- Share count, year on year
- −2.4%
Share count, year on year · bought back, each share owns more of the company
- R&D as % of revenue
- 13%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2020 | 12% |
| FY2021 | 19% |
| FY2022 | 23% |
| FY2023 | 24% |
| FY2024 | 21% |
| FY2025 | 14% |
Details›
- Gross margin12 months to Q2 2026
- 43%
- Operating margin12 months to Q2 2026
- 10%
- Net margin12 months to Q2 2026
- 11%
- Free cash flow margin
- 7.6%
- R&D as % of revenue
- 13%
- Revenue, trailing twelve months
- $866M
- Free cash flow, trailing twelve months
- $66M
- Net income, trailing twelve months
- $93M
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Customers and suppliers
Who buys from ACLS and who it buys from, as the companies report it.
- First customer11%
Share of revenue · FY2025 10-K
- Ten largest customers55%
Combined share of revenue · FY2025 10-K
None disclosed.
A company has to disclose every customer behind 10% or more of its revenue. Each share comes from the latest annual report of the company that states it and shows on both companies’ pages; ACLS’s own figures are from its FY2025 10-K. Smaller customers and suppliers go unreported.
Semiconductor Equipment & Materials
Ranks #2 of 17 by RyuScore