NASDAQ · ACLS
Axcelis Technologies, Inc.
Technology · Semiconductors
$132.33▲ 2.83% ($3.64)today
As of 3:38 PM ET
Market cap
$4.07B
P/E
44.40
EPS (TTM)
$2.98
Next earnings
Nov 3, 2026
Valuation
Cash-flow DCF
Verdict: expensive. Price above all scenarios.
The price needs 68.2% free cash flow growth a year for 5 years. Our scenarios assume 4.2–25.0%.
That's 3.6× its past 10-year pace.
Value per share
Base case
$36.30
Price used $132.33 is 3.6× this
USD · TTM ending Jun 30, 2026 · Price Sep 30, 7:38 PM UTC
FCFF base normalized by replacing latest capex with the company's trailing median capex-to-revenue ratio.
2 more notes
Working capital change smoothed: single-period ΔOWC exceeded ±5% of revenue and was capped to reduce timing noise.
Historical FCFF CAGR and the default growth rates are taken from the raw historical series. The valuation base is normalized for the current-period DCF.
Free cash flow each value needs
Free cash flow today $41.7M. The price needs $926M by 2036. Base case: $166M. At its recent pace: $241M. Bear to Bull: $60.8M to $242M.
Free cash flow today $41.7M. The price needs $926M by 2036. Base case: $166M. At its recent pace: $241M. Bear to Bull: $60.8M to $242M.
Free cash flow in 2036
today $41.7M
+$761Mmore than the Base case · 5.6×
Value per share · Base case
$36.30
Price $132.33
3.6× this
- Stage 1 growth, yrs 1–5
- 19.2%
- Stage 2 growth, yrs 6–10
- 10.6%
- Discount rate
- 15.5%
FCFF base normalized by replacing latest capex with the company's trailing median capex-to-revenue ratio.
2 more notes
Working capital change smoothed: single-period ΔOWC exceeded ±5% of revenue and was capped to reduce timing noise.
Historical FCFF CAGR and the default growth rates are taken from the raw historical series. The valuation base is normalized for the current-period DCF.
USD · TTM ending Jun 30, 2026 · Price Sep 30, 7:38 PM UTC
What each scenario assumes. Click a column to start from it.
Price vs Fundamentals
Why The Stock Is Moving
Note: The most recent financial data is over 3 months old. Metrics shown may not reflect the latest reporting period.
What changed
The stock rose 33.08% over the last year. Revenue declined 3.35% over the trailing twelve months. Operating margin moved from 17.81% to 10.33%. Free cash flow declined 46.51% over the trailing twelve months.
What the market seems to be pricing
The stock is rising despite deteriorating fundamentals and now sits at the 97th percentile of its historical P/FCF range. This is a momentum-driven move — the market may be front-running a recovery that has not yet appeared in reported numbers.
What would invalidate this read
Operating margin (currently 10.33%) would need to stabilize or improve to justify the move. Revenue is declining 3.35% — a trend reversal in the next report would be the key signal to watch. This read is wrong if the next period shows operating metrics turning the corner. At that point the price would be anticipating real improvement rather than running ahead of it.
Return analysis
Company profile
Axcelis Technologies, Inc. is a company dedicated to the creation, production, and maintenance of specialized ion implantation and other essential processing machinery used in the fabrication of semiconductor chips.
Market multiples
Stock splits
Every 4 shares became 1
Profitability & growth
Analyst consensus
10
Buy
2
Hold
1
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Nov 3, 2026
Q3 FY26 · EPS est $1.11 · Revenue est $230.08M
View
Institutional Sentiment
Axcelis Technologies, Inc. · ACLS
From Form 13F filings (managers with $100M+). Filings land up to 45 days after quarter end — read this as positioning context, not live fund flow.